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The crash of an Air India 787-8 Dreamliner jet minutes after taking off on Thursday poses another challenge for Boeing, whose new CEO has been trying to rebuild trust following a series of safety and production challenges. It was not clear what caused the crash, as air disasters can occur for a number of different reasons. The London-bound plane crashed in India’s western city of Ahmedabad, authorities said, in the world’s worst aviation disaster in a decade. The disaster, in which most of the 242 people on board were killed, muddies the efforts of CEO Kelly Ortberg to move past…

The crash of an Air India 787-8 Dreamliner jet minutes after taking off on Thursday poses another challenge for Boeing, whose new CEO has been trying to rebuild trust following a series of safety and production challenges. It was not clear what caused the crash, as air disasters can occur for a number of different reasons. The London-bound plane crashed in India’s western city of Ahmedabad, authorities said, in the world’s worst aviation disaster in a decade. The disaster, in which most of the 242 people on board were killed, muddies the efforts of CEO Kelly Ortberg to move past…

Oil prices fell on Thursday after sharp gains in the previous session as market participants assessed a US decision to move personnel from the Middle East ahead of talks with Iran over the latter’s nuclear-related activity. Brent crude futures were down $1.31, or 1.9%, at $68.46 a barrel at 1202 GMT, while US West Texas Intermediate crude was $1.32, or 2%, lower at $66.83 a barrel, Reuters reported. A day earlier both Brent and WTI surged more than 4% to their highest since early April. US President Donald Trump said the US was moving personnel because the Middle East “could…

The cost of insuring Israel’s debt against default rose on Thursday, and its bond prices and stock indexes slid, as regional security concerns spiked and the country’s own government wobbled. Israel’s five-year credit default swaps rose nine basis points (bps) from Wednesday’s close, to reach 107 bps, according to S&P Global Market Intelligence, while its international dollar bonds slid more than 1 cent, Reuters reported. The 100-year issuance, which matures in 2120, shed more than 1.3 cents before retracing some of the loss to be bid at 67 cents on the dollar, Tradeweb data showed. “A possibility of a more…

Oil prices fell on Thursday after sharp gains in the previous session as market participants assessed a US decision to move personnel from the Middle East ahead of talks with Iran over the latter’s nuclear-related activity. Brent crude futures were down $1.31, or 1.9%, at $68.46 a barrel at 1202 GMT, while US West Texas Intermediate crude was $1.32, or 2%, lower at $66.83 a barrel, Reuters reported. A day earlier both Brent and WTI surged more than 4% to their highest since early April. US President Donald Trump said the US was moving personnel because the Middle East “could…

As global investors remain cautious about debt in emerging economies, Saudi Arabia is increasingly seen as a stable and attractive investment destination. This confidence stems from its strong financial foundation and ambitious economic transformation plans. Karine Kheirallah, Head of Investment Strategy and Research for Europe, the Middle East, and Africa at State Street Global Advisors, one of the world’s largest asset managers, highlighted Saudi Arabia’s compelling macroeconomic story. She noted that while many countries struggle with high debt and rising servicing costs, Saudi Arabia maintains a relatively low debt-to-GDP ratio of 29.9% as of December 2024. Even with planned increases…

Amid the euphoria over AI, ChatGPT and the latest twist in the “Magnificent Seven” tech saga, take note: US homebuilder shares are down 35-40 percent in 2025. This doesn’t surprise me. A sharp rise in Treasury yields since March has strained the most credit-sensitive corner of the economy, housing, just as Tariffmania under Trump 2.0 guts global trade and consumer credit markets. Housing, not AI, is the ultimate leading indicator of the US economy. And right now, it’s sending out a loud recession SOS. So how should GCC investors position for a potential US recession this autumn? First, consider buying…

48% have no succession strategy MAF situation highlights issue Contribute 40% of GDP Almost half of entrepreneurs in the UAE have no formal succession strategy in place to protect their business or family wealth, according to a report from HSBC. This failure to prepare points to a structural risk in one of the country’s most vital economic segments. While 98 percent of UAE respondents are optimistic about their businesses, 48 percent have not put in place a plan for transferring their wealth or business assets, according to HSBC’s Global Entrepreneurial Wealth Report released earlier this month.  The findings come amid…

Ankara funding borrowing Rolling over existing bonds Issues new securities Ankara faces a busy summer of funding its borrowing programme, rolling over existing bonds and issuing new securities to bridge a widening budget deficit, as it contends with high interest rates and persistent inflation. On Tuesday, the finance and treasury ministry conducted three lira-denominated auctions of bonds and treasury bills with a combined value of $2.5 billion. The three offerings – a seven-year floating rate note, a nine-month treasury-bill, and a four-year fixed coupon bond – attracted bids from both public institutions and the private sector, drawn by the high…

4,000 firms flouting rules June 10 deadline $3,300 fine due Kuwait is expected to net nearly KD4.1 million ($13.5 million) from financial penalties imposed on 4,000 companies flouting transparency rules related to their ownership. The government had given more than 150,000 businesses operating in Kuwait until June 10 to disclose what it terms as “the actual beneficiary or owner” as part of a crackdown on money laundering. Kuwait’s Ministry of Commerce and Industry warned that companies would be subject to a penalty of KD1,000 ($3,300) if they failed to disclose the ownership information before the deadline. Nearly 4,100 businesses have…