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The Emerging Tech Summit

The Emerging Tech Summit isn’t your run-of-the-mill summit; it’s a

Ryanair Announces Major Expansion in Morocco for 2023/2024 Season

Ryanair’s comprehensive expansion in Morocco for the 2023/2024 season is set to make a significant mark on the aviation industry. With over 840 weekly flights and 10 new routes connecting Moroccan destinations to major European cities, this venture highlights the airline’s confidence in the Moroccan market. The focus on sustainability is evident through the introducing of eco-friendly Boeing 737 Gamechanger aircraft, aligning with global trends in environmentally responsible aviation. Additionally, this expansion is not just about increasing capacity; it’s about strengthening the partnership between Ryanair and the Kingdom of Morocco, promising economic growth and job creation in the Marrakech area. Morocco’s aviation sector is on a promising trajectory towards becoming a key player in the global aviation landscape.

Qatar Airways Expands Its Saudi Arabian Network: New Destinations and Increased Frequencies

Qatar Airways is set to enhance its presence in Saudi Arabia, with plans to introduce new flights to AlUla, Tabuk, and the reopening of Yanbu. The airline’s expansion aims to provide travelers with more choices and convenient access to these Saudi cities, each offering unique cultural and natural attractions. With this strategic move, Qatar Airways solidifies its commitment to offering diverse travel options and strengthening connectivity within the Gulf region. Passengers can look forward to exploring AlUla’s rich history, the vibrant city of Yanbu, and the captivating allure of Tabuk. This expansion aligns with Qatar Airways’ global growth strategy, ensuring travelers enjoy seamless journeys worldwide.

BPI’s Vybe E-Wallet Emerges as a Game-Changer in the Philippine Banking Landscape

BPI, the Bank of the Philippine Islands, aims for exponential growth with the launch of Vybe, its innovative mobile wallet. The Ayala Group-owned bank plans to attract over 50 million customers by 2028, leveraging Vybe’s convenient payments and rewards system. As the banking sector thrives amidst rising interest rates, BPI reports a record-breaking net income of P39.6 billion in 2022. With the official release scheduled for October, Vybe will compete with other e-wallets like GCash, further enriching the digital banking landscape in the Philippines. BPI’s strategic approach to digital expansion positions them as a leader in the country’s financial sector.

Fidelity Bank Empowering Nigerian Businesses and Facilitating Global Trade Connections

Fidelity Bank’s FITCC Houston is set to ignite the global trade scene and empower Nigerian businesses. With a focus on promoting export trade and facilitating partnerships, this event promises to be a game-changer for entrepreneurs and industry leaders. FITCC Houston opens doors to new horizons and positions Nigerian businesses on the international map by providing a platform for collaboration, investment opportunities, and market access. Take advantage of this exceptional opportunity to expand your business, network with industry experts, and showcase your innovations to a global audience. The countdown to FITCC Houston has begun, and the stage is set for Nigerian businesses to shine on the world stage.

Ominvest-Led Consortium Proposes Revised Offer to Acquire Majority Stake in Ahli Bank

In a game-changing move for Oman’s banking sector, a consortium led by Ominvest has proposed a revised offer to acquire a majority stake in Ahli Bank. With an enhanced cash offer, this strategic alliance aims to fuel growth opportunities and reshape the financial landscape. As the acquisition progresses, the potential implications for Ahli Bank and the broader banking industry in Oman are poised to unlock new horizons of competitiveness and collaboration. Stay tuned to witness the transformative journey of Ahli Bank and its impact on Oman’s financial future.

Annual Investment Meeting launch Arab China Unicorn Investment Conclave

The 12th edition of The Annual Investment Meeting (AIM) hosted the China Top 50 Unicorns. The event took place at the Innovation and Technology Track located at the Abu Dhabi National Exhibition Centre, and brought together investors, startups, and innovators from the UAE and China.

Unlocking the Future of ESG Investments

The rise of environmental, social, and governance (ESG) investments has seen an increase in demand for such products in the asset management market. However, concerns around the lack of clear ESG standards and the potential for “greenwashing” have regulators proposing new rules and guidance. Asset managers must ensure their ESG products deliver genuine outcomes to meet regulatory standards, but face challenges in finding enough investable opportunities in the market. The creation of high carbon transition funds by large institutional investors may offer a solution to the traditional divestment approach, contributing to real economy emission reductions. Firms launching new ESG products must stay ahead of the evolving regulatory environment, with KPMG’s Asset Management team offering effective ESG strategies and regulatory analysis to stay competitive.

Analysis: From Meta to Microsoft, AI’s big moment is here

This week, chief executives across the sector packed earnings calls with mentions of the heavily hyped technology, which until recently existed more in the background than as a solid contributor to the bottom line.

Sony hikes FY profit forecast by 4.5% on foreign exchange boost

Sony Group Corp hiked its full-year operating profit forecast on Tuesday by 4.5% to 1.16 trillion yen ($7.84 billion) as the boost from foreign exchange fluctuations at units including the music business offset gaming weakness.

Ubisoft shares tumble as Tencent deal seen dampening buyout prospects

Shares in Ubisoft Entertainment (UBIP.PA) tumbled on Wednesday after it announced a deal that sees China’s Tencent Holdings (0700.HK) raise its stake in the company, a move which analysts say dampens the prospect of a full sale of the French game maker.

Sony to buy mobile game developer in push beyond consoles

Sony Group Corp (6758.T) on Monday said it will acquire Helsinki and Berlin-based mobile games business Savage Game Studios for an undisclosed amount as part of a major push by the Japanese conglomerate beyond console gaming.

Exclusive: Tencent plans to divest Meituan stake worth $24 billion

China’s Tencent Holdings (0700.HK) plans to sell all or a bulk of its $24 billion stake in food delivery firm Meituan (3690.HK) to placate domestic regulators and monetise an eight-year-old investment, four sources with knowledge of the matter said.

Sony trims profit forecast after games business falters

Sony Group Corp (6758.T) trimmed its profit forecast on Friday after a weak first quarter for its PlayStation business, which it blamed on waning consumer interest due to a lack of new games and an easing of COVID-19 constraints dampening stay-at-home gaming.

Euro holds near 2-week high, awaits ECB and Nordstream clarity

The euro held near two-week highs versus the dollar on Wednesday on expectations of a bigger ECB interest rate increase this week than earlier anticipated and a Reuters report that a key Russian gas pipeline would reopen on time after maintenance.

With IPOs on ice, banks’ stock offering fees plummet

Recession fears and Russia’s invasion of Ukraine sent a chill through equity capital markets (ECM) in the second quarter, depriving bankers of lucrative fees for arranging stock sales such as initial public offerings (IPOs).

Analysis: Shorts circle GameStop and AMC, sensing retail fatigue

Bearish investors are ramping up bets against meme stocks GameStop Corp (GME.N) and AMC Entertainment Holdings Inc (AMC.N), spotlighting how short sellers have grown bolder during a broader market selloff that has pummeled risky post-pandemic favorites once beloved by retail traders.

S&P, Dow futures edge higher ahead of GDP data; Nvidia slides

Futures tracking the Dow and S&P 500 rose on Thursday, ahead of data that will likely offer clues on how the U.S. economy fared amid persistently high inflation, while shares of Nvidia fell after the chipmaker’s dismal outlook.

Trending now: Netflix’s forecast as competition heats up

Netflix Inc (NFLX.O) is expected to report its slowest quarterly revenue growth in nearly eight years on Tuesday, but the focus will be on its forecast in the run-up to new seasons of popular titles including “Stranger Things” and “Ozark”.

GameStop seeks share split amid renewed meme-stock hype

Video game retailer GameStop Corp (GME.N) said on Thursday it would seek shareholder approval for a stock split, aiming to become the latest U.S. company to make it easier for retail investors to own its shares.

Nintendo shares slump 6% on ‘Legend of Zelda’ delay

Nintendo Co (7974.T) shares slumped 6% in Tokyo trading after the Kyoto-based gaming firm said it was pushing back the release of the hotly awaited sequel to “Legend of Zelda: Breath of the Wild” to spring 2023 from this year’s planned debut.

Analysis: U.S. stock rally defies economic unease

As a stunning rebound in U.S. stocks charges on, investors are questioning how long the surge can continue in the face of a hawkish Federal Reserve, warnings of recession from the bond market and geopolitical uncertainty.

Top trading houses speak at commodities conference

Executives from the world’s largest trading houses and mining companies are at the FT Commodities Global Summit this week, discussing market trends, cyber security and the impact of the conflict in Ukraine.

Sony to buy ‘Destiny’ videogame developer Bungie in $3.6 bln deal

Sony Interactive Entertainment (6758.T) will acquire Bungie Inc, the original creator of the “Halo” videogame and developer of “Destiny”, in a deal valued at $3.6 billion, making it the latest in a wave of consolidations sweeping the gaming sector.

U.S. FTC to review Microsoft’s $68.7 bln deal for Activision – Bloomberg News

The U.S. antitrust review of Microsoft Corp’s (MSFT.O) $68.7 billion proposed acquisition of “Call of Duty” maker Activision Blizzard Inc (ATVI.O) will be handled by the Federal Trade Commission (FTC), Bloomberg News reported late on Monday, citing a person familiar with the matter.

Europe falls again after brutal week for stock markets

Europe’s main bourses fell again on Friday as worries about a sudden stop to central bank stimulus and rising tensions between Western powers and Moscow continued to drive world stocks to one of their worst ever starts to a year.

Robinhood says it is in ‘strong position’ to face unlikely market events

Robinhood Markets Inc (HOOD.O) on Tuesday highlighted steps it has taken to avoid imposing trading restrictions and said it was in a “strong position” to support customers through unlikely market events, in a blog post published almost one year after a social-media-fueled rally that rattled markets.

Analysis: Biden’s regulatory agenda to take shape in 2022

Next year will be a turning point for U.S. financial policy as Democratic President Joe Biden’s new regulators ready a slew of rule changes that are set to create headaches for Wall Street and corporate America.

Russian loans company Arifmetika plans Canada listing in 2022

Russia’s Arifmetika Financial Solutions, which provides small loans to individuals, plans to start trading in Canada in early 2022 and aims to raise about $100 million in the next 12-18 months, the head of its parent company OR Group (ORUP.MM) said.

Pandemic have-a-go investors force shake-up in UK wealth market

The explosion in DIY investing since the start of the pandemic has led to a scramble among Britain’s more traditional asset managers and banks to buy or build online platforms that give consumers more direct control of their investment portfolios.

Reddit jumps on IPO bandwagon with confidential filing

Reddit Inc, whose message boards became the go-to destination for day traders during this year’s meme stock frenzy, said on Wednesday it had confidentially filed for an initial public offering with U.S. securities regulators.

Nissan to spend $17.6 bln over 5 years in electrification push

Nissan Motor Co (7201.T) announced it will spend 2 trillion yen ($17.59 billion) over the next five years to accelerate vehicle electrification, aiming to catch up with rivals in one of the fastest growth areas for the automobile industry.

Who’s building the metaverse?

Facebook (FB.O) changed its name last week to Meta Platforms Inc to signal its focus on the metaverse, which it thinks will be the successor to the mobile internet.

Marketmind: Margin pressures

Margin pressures for companies and higher prices for shoppers: That’s the message so far from the earnings season.

Factbox: Fun facts from the U.S. SEC report on January’s GameStop saga

The U.S. securities regulator released its long-awaited post-mortem into January’s GameStop saga, in which retail traders banded together on social media and piled in to GameStop and other “meme” stocks in an attempt to punish hedge funds that had bet against the company, sending its shares soaring.

Factbox: Universal to list as music streaming picks up

Vivendi (VIV.PA), the French media conglomerate, is spinning off Universal Music Group, the largest part of its business and the label behind singers such as Taylor Swift, in a listing on the Euronext stock exchange in Amsterdam.

Marketmind: Transitory faith in transitory inflation

Say your economy is growing at about 5% annually, it just hit a 10-year inflation high of 3% read more amid labour shortages and enjoys negative yields on benchmark government bonds .

Robinhood shares tumble after PayPal news, SEC scrutiny of key revenue stream

Shares of Robinhood Markets Inc (HOOD.O), a popular gateway for trading meme stocks, tumbled nearly 7% on Monday on news that PayPal Holdings Inc (PYPL.O) may start an online brokerage and a report saying regulators were looking at a possible ban on a practice that accounts for the bulk of the company’s revenue.

Marketmind: Who’s rocking the boat now?

From Fed boss Jerome Powell on Friday to the Cleveland Fed’s Loretta Mester on Monday, the doves have been out in force, sending the dollar to two-week lows, Treasury yields below 1.3% and putting the S&P 500 (.SPX) on track for its longest monthly winning streak since 2018.

CME denies media report of $16 bln takeover bid for rival Cboe

CME Group Inc (CME.O), the world’s biggest futures exchange operator, on Wednesday denied a media report that it approached rival Cboe Global Markets Inc (CBOE.Z), home to the VIX volatility index, with a $16 billion all-share takeover offer.

Lighter winds slow progress at offshore firms Orsted, RWE

Orsted (ORSTED.CO) and RWE (RWEG.DE), the world’s two largest offshore wind players, both suffered from lighter winds in the first half of the year, highlighting how profits in the booming industry remain tied to weather conditions.

Dollar drifts higher as markets await jobs data for Fed clues

The dollar was supported on Friday in the lead up to the release of U.S. employment data, as markets braced for the numbers that could make the case for faster U.S. policy tightening at a time when action in Europe and Japan remains distant.

Robinhood’s meme stock status fuels IPO uncertainty

Robinhood Markets Inc (HOOD.O) thrived thanks to the popularity of so-called meme stocks such as GameStop Corp (GME.N) with retail investors. Becoming a meme stock itself comes with trading volatility that is giving pause to some potential investors in its initial public offering.

Robinhood says U.S. watchdogs probing staff meme stock trading, registration

Robinhood Markets Inc disclosed on Tuesday it has received inquiries from U.S. watchdogs asking whether employees traded GameStop Corp. (GME.N) and AMC Entertainment Holdings, Inc. (AMC.N) before the online broker publicly announced it was restricting trading in those and other meme stocks on Jan. 28.

Monopoly-maker Hasbro revenue surges as TV, film business bounces back

Toymaker Hasbro Inc (HAS.O) posted a better-than-expected 54% jump in quarterly revenue, helped by rising demand for its “Dungeons & Dragons” tabletop game, while its film and television production unit rebounded after a year of pandemic-led shutdowns.

China regulator bars Tencent from exclusive rights in online music

China’s market regulator on Saturday said it would bar Tencent Holdings Ltd (0700.HK) from exclusive music copyright agreements and fined the company for unfair market practices in the online music market after its acquisition of China Music Corporation.

NDB Bank: Pioneers in providing innovative financial solutions for Sri Lanka’s national development

NDB’s vision is “to be the driving force for a financially empowered Sri Lanka”, supported by the mission “to be the catalyst in the financial services industry by creating superior shareholder value and contributing to the national development through the empowerment of individuals with innovative financial solutions delivered by an inspired and dedicated team committed to excellence”.

Robinhood seeks up to $35 bln valuation in mega U.S. IPO

Robinhood Markets Inc is targeting a valuation of up to $35 billion in its initial public offering in the United States, the company revealed in a Monday filing, setting the stage for one of the most highly anticipated stock market listings this year.

Japan goes nuclear in bid to stay cool during Summer Olympics

Japan has rebooted extra power plants, including a long-dormant nuclear reactor, and taken other steps to avoid a power crisis as temperatures soar and demand for cooling surges, especially in Tokyo, where the Olympics begin on Friday.

AMC, GameStop shares fall to half of their June peaks

Shares of cinema operator AMC Entertainment (AMC.N) and video game retailer GameStop Corp (GME.N) fell sharply on Wednesday and were both trading below half their recent peak prices, testing the fortitude of the stocks’ retail shareholders.

World’s deepest pool for diving opens in Dubai

The world’s deepest swimming pool for underwater diving has opened in Dubai, where people can descend 60 metres (197 ft) to a sunken city-themed landscape and play arcade games.

England’s Black players face racial abuse after Euro 2020 defeat

Black players in the England soccer team have been subjected to a storm of online racist abuse after their defeat in the final of Euro 2020, drawing wide condemnation from the squad’s manager, royalty, religious leaders and politicians.

Robinhood IPO faces threat of retail snub on Reddit

Online brokerage Robinhood Markets Inc, which helped enable the “meme stock” frenzy earlier this year and later attracted flak for its handling of the trading mania, is facing pushback on social media forums against its initial public offering.

As meme stock momentum fades, AMC, GameStop fall

Shares in so-called meme stocks with a following among retail investors lost ground on Wednesday, with AMC Entertainment (AMC.N) shares down 8.1%, on track for their fourth straight day of declines, and GameStop Corp (GME.N) falling 4.9%.

NFT sales volume surges to $2.5 bln in 2021 first half

The market for non-fungible tokens (NFTs) surged to new highs in the second quarter, with $2.5 billion in sales so far this year, up from just $13.7 million in the first half of 2020, marketplace data showed.

GameStop lures Amazon talent with grand plans and no frills

GameStop Corp (GME.N) Chairman Ryan Cohen made a point of doing away with corporate excess such as a company plane and used the allure of rebuilding the videogame retailer to recruit Amazon.com Inc’s (AMZN.O) Australia chief Matt Furlong as chief executive, according to people familiar with the process.

Online trading group CMC plans expansion into wealth management

British online trading group CMC Markets (CMCX.L) on Thursday set out plans to launch a wealth management platform, going head to head with existing players such as Hargreaves (HRGV.L) and AJ Bell (AJBA.L), after reporting a doubling in annual profits.

U.S. stocks end lower ahead of inflation report

Wall Street ended a see-saw session lower on Wednesday as market participants awaited inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy.

GameStop gains as traders await quarterly report

GameStop’s (GME.N) stock jumped 7% on Wednesday before the company was due to release its quarterly results, which a cult following of individual investors will scrutinize for progress in the videogame retailer’s turnaround amid this year’s rally in its shares.

AMC, other ‘meme’ stocks jump; regulator signals concern

Shares of AMC Entertainment Holdings Inc (AMC.N) and other “meme stocks” jumped on Monday, extending a rally in social-media favorites into a third week as message boards hummed with talk of squeezing Wall Street short-sellers.

S&P closes nominally lower as investors wait for a catalyst

The S&P 500 (.SPX) ended a languid session slightly in the red on Monday, with investors standing by on news of a global minimum corporate tax rate, lingering inflation fears, and a lack of market-moving economic news.

Apple adds virtual IDs on iPhone, video plans that rival Zoom, Teams

Apple Inc (AAPL.O), facing accusations from rivals that it has too much control over its App Store, on Monday outlined plans to increase user privacy and keep consumer data out of other companies’ hands, laying out features including expanded video conferencing and storing virtual government IDs on iPhones.

Wall St dips as investors weigh G7 tax deal risk

The S&P 500 eased on Monday, although it remained 0.5% away from its all-time high, as a deal by the world’s richest nations on a global minimum corporate tax overshadowed bets on a full economic reopening.

Dogecoin jumps on news of launch on Coinbase Pro

Dogecoin, a meme-based cryptocurrency popular among retail investors, surged on Wednesday, benefiting from news that digital asset exchange Coinbase (COIN.O) will make the crypto unit available to its users on its trading platform.

HSBC exits loss-making U.S. retail banking as part of Asia pivot

HSBC (HSBA.L) announced it is withdrawing from U.S. mass market retail banking by selling some parts of the money-losing business and winding down others, a long-awaited move as the lender steps up a shift in focus to Asia, its biggest market.

GameStop, AMC extend rallies, gouging short sellers

Shares of GameStop (GME.N) and cinema operator AMC Entertainment (AMC.N) rallied to their highest levels in months on Wednesday, with some market-watchers saying the recent surge was forcing bearish investors to unwind their bets against the video game retailer.

GameStop jumps more than 16% as ‘meme’ stocks roar higher

Shares of GameStop (GME.N) soared 16.3% on Tuesday after hitting their highest level since late March, and other so-called “meme” stocks also rallied as investors shifted back into the retail favorites that had notched big gains earlier in the year.

Hyundai raises hydrogen game as new trucks roll into Europe

South Korea’s Hyundai Motor (005380.KS) plans to ship a new series of fuel-cell trucks to Europe later this year, turning up the heat on rivals in a battle to test the viability of hydrogen-powered heavy goods transport.

Veteran stock picker to join ‘Son-chan’ on SoftBank board

The nomination of Koei Tecmo (3635.T) chair Keiko Erikawa to SoftBank Group’s (9984.T) board adds a veteran games industry executive known for her stock-picking skill, bringing an authoritative voice after the loss of senior industry figures.

NFT enthusiasts hold firm despite crypto price plunge

This week’s cryptocurrency price plunge eroded the dollar-based value of NFTs and raised the cost of buying and selling them, in what could be a setback for the burgeoning digital asset market. But NFT collectors are not bailing out.

Tencent Q1 profit rises 65% as online gaming revenue climbs

Chinese gaming and social media giant Tencent Holdings Ltd (0700.HK) reported a forecast-beating 65% rise in quarterly profit on Thursday, driven by a surge in users for its video games in China and international markets.

Buyers beware as “altcoin” frenzy bruises bitcoin

Bitcoin’s smaller rivals are eroding its share of the $2 trillion digital currency market. Of the dozens snapping at its heels, most have little use beyond financial trading – but few of the investors fuelling their rise seem bothered.

IOC reassures anxious Japan Olympics will be safe

The International Olympic Committee (IOC) reassured an anxious Japan on Wednesday that the Tokyo Olympics would be safe for athletes as well as the host community, amid mounting opposition to the Games and fears it will fuel a spike in COVID-19 cases.

NBA roundup: Anthony Davis drops 42 in Lakers win

Anthony Davis had 42 points and 12 rebounds and the Los Angeles Lakers made 13 shots from 3-point range to overwhelm the Phoenix Suns in a 123-110 win on Sunday night in Los Angeles.

Confronting the risks: corporate debt in the wake of the pandemic

As European economies emerge from lockdowns, it is becoming clearer that corporate debt has reached critical levels. A new French scheme, in which the state guarantees portfolios of subordinated debt, shows how financial support could be targeted better.

Tesla is taking the Stock market by storm

Tesla is an American electric vehicle and clean energy company based in California. The main focus of Tesla is serving electronic machines. A senior research analyst Craig Irwin says Tesla’s stock is hyped. When its stocks are priced at $150, he believes it should be worth $700. Tesla’s stocks are expected to be a game-changer in the stock market.

GameStop hires Amazon executive as chief growth officer in e-commerce shift

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Integration into global value chains can reduce child labour

By 2025 the UN aims to have eliminated child labour, a practice that affects roughly 10% of the world’s children and severely impedes sustainable development. But reaching that target will require a clear understanding of how global value chains interact with child labour. This column analyses 26 developing countries from 2007–2015 and concludes that countries participating in global value chains experienced reductions in child labour except in cases when an increase in exports was accompanied by additional imported content from third countries.

The spread of Covid-19 and attending football matches in England

The rapid spread of the Covid-19 virus meant that by mid-March 2020, the UK government had stopped outdoor sports from being played in England. Since then, football has resumed behind closed doors, and whether fans should be allowed to attend matches is now the subject of much debate. This column examines whether football matches held in England across February and March helped to spread Covid-19. It finds that attendance at matches resulted in an increase in cases and deaths and concludes that extreme caution should be applied to reopening football to spectators and that there should be close monitoring of any gradual re-opening of stadiums.

The Emerging Tech Summit

The Emerging Tech Summit isn’t your run-of-the-mill summit; it’s a

Ryanair Announces Major Expansion in Morocco for 2023/2024 Season

Ryanair’s comprehensive expansion in Morocco for the 2023/2024 season is set to make a significant mark on the aviation industry. With over 840 weekly flights and 10 new routes connecting Moroccan destinations to major European cities, this venture highlights the airline’s confidence in the Moroccan market. The focus on sustainability is evident through the introducing of eco-friendly Boeing 737 Gamechanger aircraft, aligning with global trends in environmentally responsible aviation. Additionally, this expansion is not just about increasing capacity; it’s about strengthening the partnership between Ryanair and the Kingdom of Morocco, promising economic growth and job creation in the Marrakech area. Morocco’s aviation sector is on a promising trajectory towards becoming a key player in the global aviation landscape.

Qatar Airways Expands Its Saudi Arabian Network: New Destinations and Increased Frequencies

Qatar Airways is set to enhance its presence in Saudi Arabia, with plans to introduce new flights to AlUla, Tabuk, and the reopening of Yanbu. The airline’s expansion aims to provide travelers with more choices and convenient access to these Saudi cities, each offering unique cultural and natural attractions. With this strategic move, Qatar Airways solidifies its commitment to offering diverse travel options and strengthening connectivity within the Gulf region. Passengers can look forward to exploring AlUla’s rich history, the vibrant city of Yanbu, and the captivating allure of Tabuk. This expansion aligns with Qatar Airways’ global growth strategy, ensuring travelers enjoy seamless journeys worldwide.

BPI’s Vybe E-Wallet Emerges as a Game-Changer in the Philippine Banking Landscape

BPI, the Bank of the Philippine Islands, aims for exponential growth with the launch of Vybe, its innovative mobile wallet. The Ayala Group-owned bank plans to attract over 50 million customers by 2028, leveraging Vybe’s convenient payments and rewards system. As the banking sector thrives amidst rising interest rates, BPI reports a record-breaking net income of P39.6 billion in 2022. With the official release scheduled for October, Vybe will compete with other e-wallets like GCash, further enriching the digital banking landscape in the Philippines. BPI’s strategic approach to digital expansion positions them as a leader in the country’s financial sector.

Fidelity Bank Empowering Nigerian Businesses and Facilitating Global Trade Connections

Fidelity Bank’s FITCC Houston is set to ignite the global trade scene and empower Nigerian businesses. With a focus on promoting export trade and facilitating partnerships, this event promises to be a game-changer for entrepreneurs and industry leaders. FITCC Houston opens doors to new horizons and positions Nigerian businesses on the international map by providing a platform for collaboration, investment opportunities, and market access. Take advantage of this exceptional opportunity to expand your business, network with industry experts, and showcase your innovations to a global audience. The countdown to FITCC Houston has begun, and the stage is set for Nigerian businesses to shine on the world stage.

Ominvest-Led Consortium Proposes Revised Offer to Acquire Majority Stake in Ahli Bank

In a game-changing move for Oman’s banking sector, a consortium led by Ominvest has proposed a revised offer to acquire a majority stake in Ahli Bank. With an enhanced cash offer, this strategic alliance aims to fuel growth opportunities and reshape the financial landscape. As the acquisition progresses, the potential implications for Ahli Bank and the broader banking industry in Oman are poised to unlock new horizons of competitiveness and collaboration. Stay tuned to witness the transformative journey of Ahli Bank and its impact on Oman’s financial future.

Annual Investment Meeting launch Arab China Unicorn Investment Conclave

The 12th edition of The Annual Investment Meeting (AIM) hosted the China Top 50 Unicorns. The event took place at the Innovation and Technology Track located at the Abu Dhabi National Exhibition Centre, and brought together investors, startups, and innovators from the UAE and China.

Unlocking the Future of ESG Investments

The rise of environmental, social, and governance (ESG) investments has seen an increase in demand for such products in the asset management market. However, concerns around the lack of clear ESG standards and the potential for “greenwashing” have regulators proposing new rules and guidance. Asset managers must ensure their ESG products deliver genuine outcomes to meet regulatory standards, but face challenges in finding enough investable opportunities in the market. The creation of high carbon transition funds by large institutional investors may offer a solution to the traditional divestment approach, contributing to real economy emission reductions. Firms launching new ESG products must stay ahead of the evolving regulatory environment, with KPMG’s Asset Management team offering effective ESG strategies and regulatory analysis to stay competitive.

Analysis: From Meta to Microsoft, AI’s big moment is here

This week, chief executives across the sector packed earnings calls with mentions of the heavily hyped technology, which until recently existed more in the background than as a solid contributor to the bottom line.

Sony hikes FY profit forecast by 4.5% on foreign exchange boost

Sony Group Corp hiked its full-year operating profit forecast on Tuesday by 4.5% to 1.16 trillion yen ($7.84 billion) as the boost from foreign exchange fluctuations at units including the music business offset gaming weakness.

Ubisoft shares tumble as Tencent deal seen dampening buyout prospects

Shares in Ubisoft Entertainment (UBIP.PA) tumbled on Wednesday after it announced a deal that sees China’s Tencent Holdings (0700.HK) raise its stake in the company, a move which analysts say dampens the prospect of a full sale of the French game maker.

Sony to buy mobile game developer in push beyond consoles

Sony Group Corp (6758.T) on Monday said it will acquire Helsinki and Berlin-based mobile games business Savage Game Studios for an undisclosed amount as part of a major push by the Japanese conglomerate beyond console gaming.

Exclusive: Tencent plans to divest Meituan stake worth $24 billion

China’s Tencent Holdings (0700.HK) plans to sell all or a bulk of its $24 billion stake in food delivery firm Meituan (3690.HK) to placate domestic regulators and monetise an eight-year-old investment, four sources with knowledge of the matter said.

Sony trims profit forecast after games business falters

Sony Group Corp (6758.T) trimmed its profit forecast on Friday after a weak first quarter for its PlayStation business, which it blamed on waning consumer interest due to a lack of new games and an easing of COVID-19 constraints dampening stay-at-home gaming.

Euro holds near 2-week high, awaits ECB and Nordstream clarity

The euro held near two-week highs versus the dollar on Wednesday on expectations of a bigger ECB interest rate increase this week than earlier anticipated and a Reuters report that a key Russian gas pipeline would reopen on time after maintenance.

With IPOs on ice, banks’ stock offering fees plummet

Recession fears and Russia’s invasion of Ukraine sent a chill through equity capital markets (ECM) in the second quarter, depriving bankers of lucrative fees for arranging stock sales such as initial public offerings (IPOs).

Analysis: Shorts circle GameStop and AMC, sensing retail fatigue

Bearish investors are ramping up bets against meme stocks GameStop Corp (GME.N) and AMC Entertainment Holdings Inc (AMC.N), spotlighting how short sellers have grown bolder during a broader market selloff that has pummeled risky post-pandemic favorites once beloved by retail traders.

S&P, Dow futures edge higher ahead of GDP data; Nvidia slides

Futures tracking the Dow and S&P 500 rose on Thursday, ahead of data that will likely offer clues on how the U.S. economy fared amid persistently high inflation, while shares of Nvidia fell after the chipmaker’s dismal outlook.

Trending now: Netflix’s forecast as competition heats up

Netflix Inc (NFLX.O) is expected to report its slowest quarterly revenue growth in nearly eight years on Tuesday, but the focus will be on its forecast in the run-up to new seasons of popular titles including “Stranger Things” and “Ozark”.

GameStop seeks share split amid renewed meme-stock hype

Video game retailer GameStop Corp (GME.N) said on Thursday it would seek shareholder approval for a stock split, aiming to become the latest U.S. company to make it easier for retail investors to own its shares.

Nintendo shares slump 6% on ‘Legend of Zelda’ delay

Nintendo Co (7974.T) shares slumped 6% in Tokyo trading after the Kyoto-based gaming firm said it was pushing back the release of the hotly awaited sequel to “Legend of Zelda: Breath of the Wild” to spring 2023 from this year’s planned debut.

Analysis: U.S. stock rally defies economic unease

As a stunning rebound in U.S. stocks charges on, investors are questioning how long the surge can continue in the face of a hawkish Federal Reserve, warnings of recession from the bond market and geopolitical uncertainty.

Top trading houses speak at commodities conference

Executives from the world’s largest trading houses and mining companies are at the FT Commodities Global Summit this week, discussing market trends, cyber security and the impact of the conflict in Ukraine.

Sony to buy ‘Destiny’ videogame developer Bungie in $3.6 bln deal

Sony Interactive Entertainment (6758.T) will acquire Bungie Inc, the original creator of the “Halo” videogame and developer of “Destiny”, in a deal valued at $3.6 billion, making it the latest in a wave of consolidations sweeping the gaming sector.

U.S. FTC to review Microsoft’s $68.7 bln deal for Activision – Bloomberg News

The U.S. antitrust review of Microsoft Corp’s (MSFT.O) $68.7 billion proposed acquisition of “Call of Duty” maker Activision Blizzard Inc (ATVI.O) will be handled by the Federal Trade Commission (FTC), Bloomberg News reported late on Monday, citing a person familiar with the matter.

Europe falls again after brutal week for stock markets

Europe’s main bourses fell again on Friday as worries about a sudden stop to central bank stimulus and rising tensions between Western powers and Moscow continued to drive world stocks to one of their worst ever starts to a year.

Robinhood says it is in ‘strong position’ to face unlikely market events

Robinhood Markets Inc (HOOD.O) on Tuesday highlighted steps it has taken to avoid imposing trading restrictions and said it was in a “strong position” to support customers through unlikely market events, in a blog post published almost one year after a social-media-fueled rally that rattled markets.

Analysis: Biden’s regulatory agenda to take shape in 2022

Next year will be a turning point for U.S. financial policy as Democratic President Joe Biden’s new regulators ready a slew of rule changes that are set to create headaches for Wall Street and corporate America.

Russian loans company Arifmetika plans Canada listing in 2022

Russia’s Arifmetika Financial Solutions, which provides small loans to individuals, plans to start trading in Canada in early 2022 and aims to raise about $100 million in the next 12-18 months, the head of its parent company OR Group (ORUP.MM) said.

Pandemic have-a-go investors force shake-up in UK wealth market

The explosion in DIY investing since the start of the pandemic has led to a scramble among Britain’s more traditional asset managers and banks to buy or build online platforms that give consumers more direct control of their investment portfolios.

Reddit jumps on IPO bandwagon with confidential filing

Reddit Inc, whose message boards became the go-to destination for day traders during this year’s meme stock frenzy, said on Wednesday it had confidentially filed for an initial public offering with U.S. securities regulators.

Nissan to spend $17.6 bln over 5 years in electrification push

Nissan Motor Co (7201.T) announced it will spend 2 trillion yen ($17.59 billion) over the next five years to accelerate vehicle electrification, aiming to catch up with rivals in one of the fastest growth areas for the automobile industry.

Who’s building the metaverse?

Facebook (FB.O) changed its name last week to Meta Platforms Inc to signal its focus on the metaverse, which it thinks will be the successor to the mobile internet.

Marketmind: Margin pressures

Margin pressures for companies and higher prices for shoppers: That’s the message so far from the earnings season.

Factbox: Fun facts from the U.S. SEC report on January’s GameStop saga

The U.S. securities regulator released its long-awaited post-mortem into January’s GameStop saga, in which retail traders banded together on social media and piled in to GameStop and other “meme” stocks in an attempt to punish hedge funds that had bet against the company, sending its shares soaring.

Factbox: Universal to list as music streaming picks up

Vivendi (VIV.PA), the French media conglomerate, is spinning off Universal Music Group, the largest part of its business and the label behind singers such as Taylor Swift, in a listing on the Euronext stock exchange in Amsterdam.

Marketmind: Transitory faith in transitory inflation

Say your economy is growing at about 5% annually, it just hit a 10-year inflation high of 3% read more amid labour shortages and enjoys negative yields on benchmark government bonds .

Robinhood shares tumble after PayPal news, SEC scrutiny of key revenue stream

Shares of Robinhood Markets Inc (HOOD.O), a popular gateway for trading meme stocks, tumbled nearly 7% on Monday on news that PayPal Holdings Inc (PYPL.O) may start an online brokerage and a report saying regulators were looking at a possible ban on a practice that accounts for the bulk of the company’s revenue.

Marketmind: Who’s rocking the boat now?

From Fed boss Jerome Powell on Friday to the Cleveland Fed’s Loretta Mester on Monday, the doves have been out in force, sending the dollar to two-week lows, Treasury yields below 1.3% and putting the S&P 500 (.SPX) on track for its longest monthly winning streak since 2018.

CME denies media report of $16 bln takeover bid for rival Cboe

CME Group Inc (CME.O), the world’s biggest futures exchange operator, on Wednesday denied a media report that it approached rival Cboe Global Markets Inc (CBOE.Z), home to the VIX volatility index, with a $16 billion all-share takeover offer.

Lighter winds slow progress at offshore firms Orsted, RWE

Orsted (ORSTED.CO) and RWE (RWEG.DE), the world’s two largest offshore wind players, both suffered from lighter winds in the first half of the year, highlighting how profits in the booming industry remain tied to weather conditions.

Dollar drifts higher as markets await jobs data for Fed clues

The dollar was supported on Friday in the lead up to the release of U.S. employment data, as markets braced for the numbers that could make the case for faster U.S. policy tightening at a time when action in Europe and Japan remains distant.

Robinhood’s meme stock status fuels IPO uncertainty

Robinhood Markets Inc (HOOD.O) thrived thanks to the popularity of so-called meme stocks such as GameStop Corp (GME.N) with retail investors. Becoming a meme stock itself comes with trading volatility that is giving pause to some potential investors in its initial public offering.

Robinhood says U.S. watchdogs probing staff meme stock trading, registration

Robinhood Markets Inc disclosed on Tuesday it has received inquiries from U.S. watchdogs asking whether employees traded GameStop Corp. (GME.N) and AMC Entertainment Holdings, Inc. (AMC.N) before the online broker publicly announced it was restricting trading in those and other meme stocks on Jan. 28.

Monopoly-maker Hasbro revenue surges as TV, film business bounces back

Toymaker Hasbro Inc (HAS.O) posted a better-than-expected 54% jump in quarterly revenue, helped by rising demand for its “Dungeons & Dragons” tabletop game, while its film and television production unit rebounded after a year of pandemic-led shutdowns.

China regulator bars Tencent from exclusive rights in online music

China’s market regulator on Saturday said it would bar Tencent Holdings Ltd (0700.HK) from exclusive music copyright agreements and fined the company for unfair market practices in the online music market after its acquisition of China Music Corporation.

NDB Bank: Pioneers in providing innovative financial solutions for Sri Lanka’s national development

NDB’s vision is “to be the driving force for a financially empowered Sri Lanka”, supported by the mission “to be the catalyst in the financial services industry by creating superior shareholder value and contributing to the national development through the empowerment of individuals with innovative financial solutions delivered by an inspired and dedicated team committed to excellence”.

Robinhood seeks up to $35 bln valuation in mega U.S. IPO

Robinhood Markets Inc is targeting a valuation of up to $35 billion in its initial public offering in the United States, the company revealed in a Monday filing, setting the stage for one of the most highly anticipated stock market listings this year.

Japan goes nuclear in bid to stay cool during Summer Olympics

Japan has rebooted extra power plants, including a long-dormant nuclear reactor, and taken other steps to avoid a power crisis as temperatures soar and demand for cooling surges, especially in Tokyo, where the Olympics begin on Friday.

AMC, GameStop shares fall to half of their June peaks

Shares of cinema operator AMC Entertainment (AMC.N) and video game retailer GameStop Corp (GME.N) fell sharply on Wednesday and were both trading below half their recent peak prices, testing the fortitude of the stocks’ retail shareholders.

World’s deepest pool for diving opens in Dubai

The world’s deepest swimming pool for underwater diving has opened in Dubai, where people can descend 60 metres (197 ft) to a sunken city-themed landscape and play arcade games.

England’s Black players face racial abuse after Euro 2020 defeat

Black players in the England soccer team have been subjected to a storm of online racist abuse after their defeat in the final of Euro 2020, drawing wide condemnation from the squad’s manager, royalty, religious leaders and politicians.

Robinhood IPO faces threat of retail snub on Reddit

Online brokerage Robinhood Markets Inc, which helped enable the “meme stock” frenzy earlier this year and later attracted flak for its handling of the trading mania, is facing pushback on social media forums against its initial public offering.

As meme stock momentum fades, AMC, GameStop fall

Shares in so-called meme stocks with a following among retail investors lost ground on Wednesday, with AMC Entertainment (AMC.N) shares down 8.1%, on track for their fourth straight day of declines, and GameStop Corp (GME.N) falling 4.9%.

NFT sales volume surges to $2.5 bln in 2021 first half

The market for non-fungible tokens (NFTs) surged to new highs in the second quarter, with $2.5 billion in sales so far this year, up from just $13.7 million in the first half of 2020, marketplace data showed.

GameStop lures Amazon talent with grand plans and no frills

GameStop Corp (GME.N) Chairman Ryan Cohen made a point of doing away with corporate excess such as a company plane and used the allure of rebuilding the videogame retailer to recruit Amazon.com Inc’s (AMZN.O) Australia chief Matt Furlong as chief executive, according to people familiar with the process.

Online trading group CMC plans expansion into wealth management

British online trading group CMC Markets (CMCX.L) on Thursday set out plans to launch a wealth management platform, going head to head with existing players such as Hargreaves (HRGV.L) and AJ Bell (AJBA.L), after reporting a doubling in annual profits.

U.S. stocks end lower ahead of inflation report

Wall Street ended a see-saw session lower on Wednesday as market participants awaited inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy.

GameStop gains as traders await quarterly report

GameStop’s (GME.N) stock jumped 7% on Wednesday before the company was due to release its quarterly results, which a cult following of individual investors will scrutinize for progress in the videogame retailer’s turnaround amid this year’s rally in its shares.

AMC, other ‘meme’ stocks jump; regulator signals concern

Shares of AMC Entertainment Holdings Inc (AMC.N) and other “meme stocks” jumped on Monday, extending a rally in social-media favorites into a third week as message boards hummed with talk of squeezing Wall Street short-sellers.

S&P closes nominally lower as investors wait for a catalyst

The S&P 500 (.SPX) ended a languid session slightly in the red on Monday, with investors standing by on news of a global minimum corporate tax rate, lingering inflation fears, and a lack of market-moving economic news.

Apple adds virtual IDs on iPhone, video plans that rival Zoom, Teams

Apple Inc (AAPL.O), facing accusations from rivals that it has too much control over its App Store, on Monday outlined plans to increase user privacy and keep consumer data out of other companies’ hands, laying out features including expanded video conferencing and storing virtual government IDs on iPhones.

Wall St dips as investors weigh G7 tax deal risk

The S&P 500 eased on Monday, although it remained 0.5% away from its all-time high, as a deal by the world’s richest nations on a global minimum corporate tax overshadowed bets on a full economic reopening.

Dogecoin jumps on news of launch on Coinbase Pro

Dogecoin, a meme-based cryptocurrency popular among retail investors, surged on Wednesday, benefiting from news that digital asset exchange Coinbase (COIN.O) will make the crypto unit available to its users on its trading platform.

HSBC exits loss-making U.S. retail banking as part of Asia pivot

HSBC (HSBA.L) announced it is withdrawing from U.S. mass market retail banking by selling some parts of the money-losing business and winding down others, a long-awaited move as the lender steps up a shift in focus to Asia, its biggest market.

GameStop, AMC extend rallies, gouging short sellers

Shares of GameStop (GME.N) and cinema operator AMC Entertainment (AMC.N) rallied to their highest levels in months on Wednesday, with some market-watchers saying the recent surge was forcing bearish investors to unwind their bets against the video game retailer.

GameStop jumps more than 16% as ‘meme’ stocks roar higher

Shares of GameStop (GME.N) soared 16.3% on Tuesday after hitting their highest level since late March, and other so-called “meme” stocks also rallied as investors shifted back into the retail favorites that had notched big gains earlier in the year.

Hyundai raises hydrogen game as new trucks roll into Europe

South Korea’s Hyundai Motor (005380.KS) plans to ship a new series of fuel-cell trucks to Europe later this year, turning up the heat on rivals in a battle to test the viability of hydrogen-powered heavy goods transport.

Veteran stock picker to join ‘Son-chan’ on SoftBank board

The nomination of Koei Tecmo (3635.T) chair Keiko Erikawa to SoftBank Group’s (9984.T) board adds a veteran games industry executive known for her stock-picking skill, bringing an authoritative voice after the loss of senior industry figures.

NFT enthusiasts hold firm despite crypto price plunge

This week’s cryptocurrency price plunge eroded the dollar-based value of NFTs and raised the cost of buying and selling them, in what could be a setback for the burgeoning digital asset market. But NFT collectors are not bailing out.

Tencent Q1 profit rises 65% as online gaming revenue climbs

Chinese gaming and social media giant Tencent Holdings Ltd (0700.HK) reported a forecast-beating 65% rise in quarterly profit on Thursday, driven by a surge in users for its video games in China and international markets.

Buyers beware as “altcoin” frenzy bruises bitcoin

Bitcoin’s smaller rivals are eroding its share of the $2 trillion digital currency market. Of the dozens snapping at its heels, most have little use beyond financial trading – but few of the investors fuelling their rise seem bothered.

IOC reassures anxious Japan Olympics will be safe

The International Olympic Committee (IOC) reassured an anxious Japan on Wednesday that the Tokyo Olympics would be safe for athletes as well as the host community, amid mounting opposition to the Games and fears it will fuel a spike in COVID-19 cases.

NBA roundup: Anthony Davis drops 42 in Lakers win

Anthony Davis had 42 points and 12 rebounds and the Los Angeles Lakers made 13 shots from 3-point range to overwhelm the Phoenix Suns in a 123-110 win on Sunday night in Los Angeles.

Confronting the risks: corporate debt in the wake of the pandemic

As European economies emerge from lockdowns, it is becoming clearer that corporate debt has reached critical levels. A new French scheme, in which the state guarantees portfolios of subordinated debt, shows how financial support could be targeted better.

Tesla is taking the Stock market by storm

Tesla is an American electric vehicle and clean energy company based in California. The main focus of Tesla is serving electronic machines. A senior research analyst Craig Irwin says Tesla’s stock is hyped. When its stocks are priced at $150, he believes it should be worth $700. Tesla’s stocks are expected to be a game-changer in the stock market.

GameStop hires Amazon executive as chief growth officer in e-commerce shift

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Integration into global value chains can reduce child labour

By 2025 the UN aims to have eliminated child labour, a practice that affects roughly 10% of the world’s children and severely impedes sustainable development. But reaching that target will require a clear understanding of how global value chains interact with child labour. This column analyses 26 developing countries from 2007–2015 and concludes that countries participating in global value chains experienced reductions in child labour except in cases when an increase in exports was accompanied by additional imported content from third countries.

The spread of Covid-19 and attending football matches in England

The rapid spread of the Covid-19 virus meant that by mid-March 2020, the UK government had stopped outdoor sports from being played in England. Since then, football has resumed behind closed doors, and whether fans should be allowed to attend matches is now the subject of much debate. This column examines whether football matches held in England across February and March helped to spread Covid-19. It finds that attendance at matches resulted in an increase in cases and deaths and concludes that extreme caution should be applied to reopening football to spectators and that there should be close monitoring of any gradual re-opening of stadiums.