Business of Sport PGA Tour renews threat of ‘disciplinary action’ The PGA Tour on Wednesday reiterated a warning to members who choose to compete on the LIV Golf Invitational Series and said those who do feature on the Saudi-funded breakaway circuit would be “subject to disciplinary action”. The field for the inaugural LIV Golf event — to be held June 9-11 at Centurion Club outside […] June 2, 2022
Business of Sport Formula One appoints Shaila-Ann Rao as new interim head Shaila-Ann Rao, who was previously a special advisor to Mercedes team boss Toto Wolff, took over as interim head of Formula One at the governing FIA on Wednesday in place of departed Peter Bayer. The Paris-based FIA, which voted in Emirati Mohammed Ben Sulayem as president last December to succeed departing Frenchman Jean Todt, thanked […] June 2, 2022
Analysis Banking & Finance How London became the Islamic finance capital of the West London has in recent years cemented its position as a vital hub for Islamic finance thanks to history, circumstance and a concerted effort by the government to support the sector. With its strong financial infrastructure and burgeoning fintech space, the UK capital is primed to dominate Western Islamic finance for the foreseeable future. “London and […] June 2, 2022
Markets Finland and Sweden to continue NATO talks with Turkey Finland and Sweden said on Wednesday they would continue a dialogue with Turkey over their bids for NATO membership, but did not say whether there had been progress on overcoming Ankara’s objections to their joining the military alliance. The Nordic neighbours applied to join NATO last month in response to Russia’s invasion of Ukraine, but […] June 1, 2022
Nearly a fifth of UK monkeypox cases linked to travel Nearly a fifth of monkeypox cases reported in the United Kingdom are linked to travel, Britain’s UK Health Security Agency(UKHSA) said on Wednesday. Recent foreign travel to a number of different countries in Europe within 21 days of symptom onset has been reported by 34 confirmed cases, or 18 percent of the 190 cases of […] June 1, 2022
Energy UN nuclear watchdog urged to rebuke Iran, draft resolution shows IAEA reported scant progress with Iran on uranium traces Report came after three-month process to revive dialogue West previously held off of sending resolution to Board Iran bristles at such moves, could hurt talks on 2015 deal The United States, France, Britain and Germany are pushing for the U.N. nuclear watchdog’s Board of Governors to […] June 1, 2022
Markets What’s eating meal delivery stocks? Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. Whatever happened to these lockdown winners? Meal delivery companies had a great run in the early days of the COVID-19 epidemic and strived as growth and tech stocks led the rebound from the COVID-19 market crash. Things couldn’t be more different […] June 1, 2022
Manufacturing UK manufacturing growth hits 16-month low in May British manufacturing activity expanded in May at the weakest rate since January 2021, as producers of consumer goods struggled against a worsening cost-of-living crunch, a survey showed on Wednesday. The final estimate of the S&P Global UK Manufacturing Purchasing Managers’ Index (PMI) fell to 54.6 in May from 55.8 in April, unchanged from a preliminary […] June 1, 2022
Tourism Qatar Airways ready to see $1bn Airbus dispute through to trial Qatar Airways is ready to see its legal dispute with Airbus over flaws with the protective skin of A350 wide-body jets through to trial, the Gulf carrier said on Tuesday. Qatar Airways is suing the European planemaker in a UK court for $1 billion in damages after grounding about two dozen of its A350s experiencing […] June 1, 2022
Business of Sport Dustin Johnson to headline this month’s Saudi-backed golf tour in London Garcia and Westwood also included in the 48-man field Mickelson could still make it as six spots still open PGA Tour’s Canadian Open ‘disappointed’ with Johnson’s decision Former world number one Dustin Johnson and past major champion Sergio Garcia were listed among competitors for the opening LIV Golf Invitational Series event in a field released […] June 1, 2022
Analysis Energy Gulf to see revenue boost from oil price uplift, Russia embargo EU leaders have said they will block most Russian oil imports by sea by the end of the year, a move expected to keep oil prices at their highest since the last peak in 2014 and buoy GCC economies. June 1, 2022
Energy Russia’s Lavrov meets Gulf ministers, oil and Ukraine on agenda Russian Foreign Minister Sergei Lavrov will visit Saudi Arabia on Wednesday where he will meet with foreign ministers of the Gulf Cooperation Council countries (GCC). Lavrov is expected to meet with ministers of Saudi Arabia, the UAE, Oman, Kuwait, Bahrain and Qatar in the GCC headquarters in Riyadh. It was unclear what the meeting will […] May 31, 2022
Business of Sport Roman era ends as Abramovich completes sale of Chelsea FC Roman Abramovich has completed the sale of Chelsea FC to an investment group led by Todd Boehly and Clearlake Capital, the Premier League club said on Monday. The consortium, which won the bid to acquire the London side earlier this month, received approval from the Premier League and the British government last week. A final […] May 30, 2022
Lifestyle Dubai ranked most overworked city in the world Dubai is the most overworked city in the world, according to a new global report out this week – but a workplace culture expert said this could be due to the type of workers the emirate traditionally attracts. Kisi, a New York-based cloud-based security systems provider, looked at the work-life balance in 100 global cities. […] May 27, 2022
Lifestyle Ecclestone denies arrest for carrying illegal gun Former Formula One supremo Bernie Ecclestone today denied he had been arrested in Brazil and said an illegal gun found in his luggage before boarding a flight was never used and had no ammunition. The 91-year-old Briton, now in Portugal, said a “silly, tiny little incident” had caused a lot of aggravation as he and […] May 27, 2022
Business of Sport Bahrain’s Investcorp ends talks for AC Milan buyout Investcorp and US fund Elliott have ended talks over the buyout of Italian soccer champions AC Milan, a top executive of the Bahrain-domiciled asset manager said. Reuters last week reported that Investcorp had put on hold its plans to purchase the club, which is owned by Elliott, clearing the way for US investment firm RedBird […] May 27, 2022
Tourism Qatar Airways and Airbus set for $1bn court battle in London Airbus and Qatar Airways are heading towards a three-month summer trial next year after a UK judge granted the airline a relatively quick timetable while dismissing its procedural claims in a bitter safety and contractual dispute. The judge told a division of London’s High Court there was “public interest” in the outcome of the dispute, […] May 27, 2022
Banking & Finance Cryptocurrencies face regulation to avoid illicit dealings Cryptocurrency firms, many of which lined the main street in Davos this week, were told they will need to clean up their act before gaining complete acceptance from the World Economic Forum’s old guard. “The future of crypto, I’m sorry to say, looks regulated to me,” said Nela Richardson, senior vice president and chief economist […] May 27, 2022
Analysis Lifestyle Move over Hollywood, it’s Arab time at Cannes film festival The Middle East is one of the big talking points among the international film set at this year’s Cannes Film Festival, especially the presence of Saudi Arabia which unveiled big-ticket incentives to lure Hollywood and Bollywood producers to the kingdom. “I think in the past [the Middle East] always had some sort of presence but […] May 27, 2022
Lifestyle Rocketman’s jet-pack set to take off in the Gulf A British technology firm which has developed jet suits allowing users to fly at altitudes of up to 12,000 feet has already sold some of its products in the region and is keen to set up a training facility in the Gulf. Based in Wiltshire, South-West England, Gravity Industries was launched in March 2017 and […] May 27, 2022
Analysis Qatar promise may trigger deluge of Gulf investments in UK More Gulf sovereign wealth funds could make huge investments in the United Kingdom following a £10 billion commitment from Qatar. On Tuesday the UK and Qatar signed a new Strategic Investment Partnership which will see the emir state invest billions over the next five years in key sectors of the UK economy including fintech, zero […] May 26, 2022
Opinion British Business Group membership rise reflects growing interest in the UAE The growth of the networking association is linked to the UAE's handling of the pandemic, and a post-Brexit drive to expand beyond Europe May 25, 2022