Media & Advertising Rupert Murdoch starts process to reunite Fox and News Corp Rupert Murdoch has started a process that could reunite his media empire, News Corp and Fox Corp disclosed on Friday, saying they would consider combining at his behest, nearly a decade after the companies split. Both have formed special committees to review proposals of a potential combination, they said. If a deal goes through, the […] October 16, 2022
Tech Gulf investors back $20m funding for ‘YouTube of the metaverse’ Los Angeles-headquartered social media startup VUZ, which describes itself as ‘the YouTube of the metaverse’ has raised $20 million from a range of Gulf-based investors and aims to use the new funding to expand into Asia. Founded in 2017, VUZ also has offices in Dubai and Riyadh, and is a social app which allows users […] October 14, 2022
Banking & Finance Twitter says Musk is under federal investigations over $44bn deal Elon Musk is being investigated by federal authorities over his conduct in his $44 billion takeover deal for Twitter Inc, the social media company said in a court filing released on Thursday. While the filing said he was under investigations, it did not say what the exact focus of the probes was and which federal […] October 14, 2022
Analysis Energy Emerging ‘consequences’ of the US-Gulf fallout over OPEC’s cuts OPEC+’s announcement last week of a two million barrel per day (bpd) production cut from November has rocked already fragile US-Gulf relations. Joe Biden pledged that “there will be consequences” for Saudi Arabia in the same week that the UAE president flew to Moscow to meet Vladimir Putin. In response to Biden’s threat of retaliation, […] October 13, 2022
Economy US national security seeks to contain China’s rise The White House rolled out a long-delayed national security strategy on Wednesday that seeks to contain China’s rise while re-emphasising the importance of working with allies to tackle challenges confronting democratic nations. The 48-page document, which was delayed by Russia’s invasion of Ukraine, includes no major shifts in thinking and introduces no major new foreign […] October 13, 2022
Opinion Energy OPEC+ cuts reopen wounds between West and GCC members Geopolitical dilemma: while the US is concerned about energy price hikes during the midterm elections, OPEC+ is acting to safeguard its own member interests October 11, 2022
Energy OPEC+ cuts: the media’s verdict Major stock markets in the Gulf rose in early trading on Thursday, joining the rise in oil prices following the announcement late on Wednesday October 5 that the oil alliance OPEC+ had agreed to cut production by about two million barrels per day, the largest reduction since 2020. OPEC+ agrees deep oil production cuts, Biden […] October 6, 2022
Opinion Energy Behind the scenes at the controversial OPEC+ meeting The West and GCC nations can now only gain from really engaging in geopolitics and markets with cool heads and open channels of communication October 6, 2022
Media & Advertising Elon Musk reverses course, ready to buy Twitter for $44bn Billionaire Elon Musk is proposing to proceed with his original $44 billion bid to take Twitter Inc private, security filings showed on Tuesday, calling for an end to a lawsuit by the social media company that could have forced him to pay up, whether he wanted to or not. An agreement would put the world’s […] October 5, 2022
HSBC eyes sale of ‘profitable’ Canadian business at premium HSBC is considering selling its business in Canada, worth billions of dollars and one of the biggest international banking brands in the country, as it looks to beef up returns as demanded by its largest shareholder. “We are currently reviewing our strategic options with respect to our wholly owned subsidiary in Canada,” the bank said […] October 5, 2022
Economy IMF says global recession can be avoided with right fiscal policies Global recession can be avoided if governments’ fiscal policies were consistent with monetary policy tightening, but likely there would be countries falling into recession next year, the International Monetary Fund’s managing director said on Monday. In the context of monetary policy tightening, fiscal policy cannot stay idle because the cost of living crisis is hitting […] October 4, 2022
Lifestyle Kim Kardashian pays $1.26m fine for paid Instagram crypto post Kim Kardashian has promoted everything from appetite-suppressing lollipops to melon-flavoured liqueur to toilet paper, but it was her foray into the murky world of cryptocurrencies that got her into hot water. The reality television star and influencer has agreed to settle charges of unlawfully touting a crypto security and to pay $1.26 million in penalties […] October 4, 2022
Health Moody’s says hospitals and utilities face high hacking risks Around $22 trillion of global debt rated by Moody’s has a ‘high’ or ‘very high’ exposure to the risk of cyber attack, the ratings agency said in a report on Thursday, with hospitals and utilities seen at the greatest risk. Out of $80 trillion worth of debt across 71 sectors that the rating agency monitors, […] September 30, 2022
Analysis Biden Middle East UAE reforms seen as magnet for further US investment A series of new economic and social reforms, known as the Projects of the 50, will make the UAE an even more attractive environment for American businesses. According to Danny E Sebright, president of the US-UAE Business Council, the UAE is already widely recognised by American businesses for these strengths. “Another important strength of the […] September 26, 2022
Banking & Finance US Fed set for big rate hike to test resilience of world’s central banks The Federal Reserve is expected on Wednesday to lift interest rates by three-quarters of a percentage point for a third straight time and signal how much further and how fast borrowing costs may need to rise to tame a potentially corrosive outbreak of inflation. The policy decision, due to be announced at 2 pm EDT […] September 21, 2022
Banking & Finance US expects more banks will cut off Russian payment system Mir Steps that Turkish lenders Isbank and Denizbank took to suspend the use of Russian payment system Mir make a lot of sense, a senior US administration official said on Tuesday, and said the United States expects more banks will cut off Mir over sanctions risk. Isbank and Denizbank on Monday announced separately they had suspended […] September 21, 2022
Turkey’s VP rebukes Pelosi for ‘biased’ remarks in Armenia Turkey’s vice president Fuat Oktay has branded Nancy Pelosi’s speech on clashes between Armenia and Azerbaijan “biased”, suggesting that her comments “sabotage diplomacy efforts”. The Speaker of the US House of Representatives visited Armenia this weekend, in an unprecedented show of American support for the country, which has been locked in conflict with its neighbour […] September 19, 2022
Tourism Israel’s El Al will begin Tel Aviv to Tokyo flights in March El Al Israel Airlines will start direct flights from Tel Aviv to Tokyo next March, it said on Monday – two years after the launch was delayed because of the Covid-19 pandemic. Israel’s flag carrier has been looking to expand eastbound flights since its second-quarter results showed a rebound from the slump in travel during […] September 19, 2022
Tourism Texas entertainment brand set to expand to the Middle East Dave & Buster’s, an entertainment and hospitality brand based in Dallas, is expanding to the Middle East. Following the signing of a 10-year franchise agreement with Saudi firm Abdul Mohsen Al Hokair Holding Group, the aim is to open the first of eleven venues next year. Founded in 1982 and headquartered in Coppell, Texas, the […] September 19, 2022
Lifestyle Marvel anti-heroes steal the show at Disney’s D23 fan convention The anti-heroes stepped into the spotlight Saturday at Walt Disney Co’s D23 Expo fan convention, as Marvel Entertainment announced casting for “Thunderbolts.” Marvel Studios chief Kevin Feige announced that actors Florence Pugh, Sebastian Stan, David Harbour and Julia Louis Dreyfus will join the cast of the new film, whose team of villains is akin to […] September 12, 2022
Lifestyle Music, acting and activism: Life Lessons with Stevie Van Zandt It is rare enough to have one career that becomes part of a pop-culture phenomenon. Stevie Van Zandt has two. As a musician, including as a member of Bruce Springsteen’s E Street Band, and as an actor with “The Sopranos,” Van Zandt has bottled lightning twice. For the latest in Reuters’ Life Lessons series, Van […] September 6, 2022
Health Pure Health to invest $500m in US hospitals giant Ardent Alpha Dhabi Holding's healthcare subsidiary will acquire a minority stake in Ardent, an acute care specialist that employs 26,000 people September 5, 2022
