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Hong Kong leader John Lee on Tuesday said criticism of city conglomerate CK Hutchison’s sale of its Panama Canal ports deserved “serious attention”, after Beijing authorities repeatedly slammed the deal. The business empire of Hong Kong’s richest man, Li Ka-shing, sold most of its port operations — including those in the canal — to a US-led consortium this month following pressure from US President Donald Trump. But Beijing has upped pressure on the firm since, with two Chinese government offices managing Hong Kong affairs republishing newspaper articles last week blasting the transaction and questioning whether CK Hutchison sided with the…

Al-Khasakiya Market in Jeddah, with over 200 years of history, remains a vibrant cultural and commercial hub reflecting the city’s rich heritage.Jeddah, March 18, 2025 – Steeped in history and brimming with cultural significance, Jeddah’s old markets offer a remarkable window into the city’s rich heritage, where the past seamlessly intertwines with the present. These markets, with their timeless charm and vibrant atmosphere, provide an unforgettable experience for visitors as they navigate through bustling shops and narrow alleyways, each turn revealing the city’s deep-rooted commercial and cultural diversity. Among the many iconic markets in Jeddah, Al-Khasakiya stands out as a…

Alamy via Reuters Base Exchange in Rio de Janeiro expects regulatory approval by year-end before launching in early 2026 Mubadala Investment Company, Abu Dhabi’s sovereign wealth fund, is in talks with global banks and market makers to form a consortium with up to 10 partners providing liquidity for a new stock exchange in Rio de Janeiro, two people familiar with the matter said. In return, those partners would receive equity that would modestly dilute Mubadala’s current 73 percent stake in the planned bourse, to be called the Base Exchange, the sources said, noting that the fund would remain as the…

stc group, Saudi Arabia’s leading digital enabler, has been ranked as the third strongest telecommunications brand globally in the 2024 Brand Finance Telecom 150 Report.Developed by Brand Finance, the world’s leading independent brand valuation consultancy, the Telecom 150 Report is a dedicated industry ranking that assesses the world’s top 150 strongest telecoms brands.Utilizing the Brand Strength Index (BSI), the “Strongest Telecom Brand” ranking evaluates key factors such as resilience, customer perception, and the depth of a brand’s relationship with its audience.This achievement highlights stc group’s ability to outperform competitors in building trust, engagement, and lasting connections with its customers.Mohammed R.…

Safe-haven gold firmed on Monday, trading near an all-time high scaled in the previous session, while the market’s focus shifted to the US Federal Reserve’s meeting this week. Spot gold added 0.5% to $2,997.84 an ounce, as of 1141 GMT. Prices hit a record high of $3,004.86 on Friday amid geopolitical uncertainty. US gold futures eased 0.2% to $3,006.10. “We expect prices to edge higher on a similar trajectory with dips bought as FOMO (fear of missing out) trades support the market,” said Ross Norman, an independent analyst, Reuters reported. “In short, we would be surprised not to see the…

Alamy/Jeff Gilbert via Reuters Connect The Rolls Building in London, where high-value commercial cases are heard. The Kuwait pension fund trial is expected to last one year Allegations of money laundering Man Group and EFG among accused They have denied all the claims Kuwait’s public pension fund has accused asset manager Man Group, Swiss bank EFG and others of laundering bribes paid to its late director as a $1 billion trial begins at London’s High Court. The Public Institution for Social Security, which operates Kuwait’s social security and pension scheme, is also suing the estate of Fahad Al Rajaan, its director from 1984 to 2014. A…

The dollar hovered near a five-month low against major peers on Monday, bruised by President Donald Trump’s erratic trade policies and soft economic data, at a time when other currencies, including the euro, benefit from domestic drivers. The euro was last at $1.0905, up 0.2% on the day, and heading back towards the $1.0947 it hit last week, its highest since October 11. The Japanese yen was also marginally stronger on the day at 148.48 per dollar, again after hitting its strongest in five months last week at 146.5 to the dollar. That left the dollar index, which measures the…

Shutterstock Men at the Kuwait City souq. Kuwait last sold dollar-denominated bonds in 2017 Cabinet backs draft public debt law Historically had little need to borrow Analysts expect ‘strong demand’ for bonds Kuwait has moved a step closer to selling debt on the international markets again after the cabinet approved a draft decree that should help the country fund multibillion-dollar infrastructure projects. Historically the country has had little need to borrow thanks to its oil revenue and relatively unambitious spending plans. Kuwait last sold dollar-denominated bonds in 2017 (see below). Its debt-to-GDP ratio is less than 3 percent, comfortably the…

Reuters/Diego Vara An egg farm in Brazil. Saudi Arabia wants to reduce its reliance on imported foods Shares rise to SAR65 within hours Fourth company to list in 2025 Umm Al Qura likely to be next The share price of poultry producer Entaj has risen by 30 percent on its first day of trading, the maximum daily increase allowed on the Saudi stock exchange. Entaj – formally known as the Arabian Company for Agricultural and Industrial Investment – is the fourth company to list on Saudi Arabia’s main market this year. Its shares jumped from SAR50 ($13.33) to SAR65 within…

Witt Jacques/Reuters Saudi Arabia and Russia may be privately thinking of an alliance with the US that would rip up conventional thinking on oil, according to Jim Burkhard of S&P Global Could the rapprochement in US-Russian relations under President Trump lead to a fundamental reordering of the global oil market? Jim Burkhard, who leads crude research for S&P Global, certainly thinks it could. At last week’s CERAWeek conference of energy leaders in Houston, he caused a stir at one panel session by suggesting that Saudi Arabia, the US and Russia, which between them hold a commanding 40 per cent of…