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☆ These are the top business-development execs competing to hire elite portfolio managers at hedge fund giants Citadel, Millennium, Point72, and more
▼ + stars: | 2024-05-08 | by ( Alex Morrell | ) www.businessinsider.com time to read: +34 min

Unlike business development in corporate America, which focuses on growing a company's prospects with partners and clients, hedge fund BD teams specialize in scouting, evaluating, and wooing investment talent. AdvertisementFew have been involved in hedge fund BD longer than Jennifer Blake, Balyasny's global head. The fund's BD department remains in close contact with PMs after they join as a resource and advisor. Vernon Yuen/Getty Images$61 billion AUM2,200+ employeesAdvertisementKen Griffin's Citadel has outperformed not just its immediate rivals but every other hedge fund. He runs a team of about 20 as head of business development in the Americas, the largest region of the largest player in this space.

Persons: —, Griffin's, Izzy Englander's, Goldman Sachs, Headcount, execs, Dmitry Balyasny, Brendan McDermid, Jennifer Blake, Balyasny's, Morgan Stanley, Dmitri Balyasny's, Blake, it's, Federico Chavarria, Balyasny, Dave Matz, Smith Hanley, Alistair Jacobs, Dave Black, Peter Appel, Federico Chavarria MD, Andrew McHugh, Jules Biolsi, Michael Platt, he's, BlueCrest, Michael Grad, Grad, Jake Lindsay, Mungo Strachan, BlueCrest's, Brevan Howard Brevan Howard, Alan Howard, Ringo Chiu, Brevan Howard, Alan Howard's, Aran Landy, Brevan, Abu, It's, Landy, Howard, Peter Hornick, David Abbou, Jonathan Candy, Gregoire Vidal, Vidal, Tim Williams, Andy Silver, Gautam, Ken Griffin, Vernon Yuen, Ken Griffin's, Griffin, Matt Giannini, Giannini, headhunter, Matt, I've, — Thomas DeAngelis, Lindsay Previdi, Rice, Dore, Eleanor Sharkey, Melinda Urban, Mark Hansen, Julian Ulmer, Mathur, Adam Sharkie, Michael Page, Eisler, Edward Eisler, Sam Wisnia, Chris Milner, Milner, Hilary Curran, Hilary Curran Global, Rebecca Zisser, Michael Gelband, Hornick, Jeff Gelband, Mike Tiano, Eric Han, Garrett Berg, Liu, APAC Blackstone, Euan Shand, Kevin Carroll, Emily, Needham, Ostendorf, Ben Levine, Stefan Renold, LMR, Marcus Fairhurst, He'd, LMR's, Izzy, Ronda, Singh, Mark Meskin, Justin Gmelich, Steve Keller, Benjamin Williams, Madhvani, Paritosh Singh, Ben Williams, Kristina Tully, Steven Cohen, Point72, Shayanne, Steve Cohen's, Harry Schwefel, Chandler, Steve Cohen, JT Shields, They're, Schwefel, Alyssa Friedman —, Chandler Bocklage, Reid Murphy, Jae Yang, Japan Goldman Sachs, Alyssa Friedman, Jackie Dai, Gabriel Sanders, Ajay, Steven Schonfeld, Michael Nagle, Steve Schonfeld's, Ryan Tolkin, Schonfeld, doesn't, Akshay Aggarwal, Alex Burns, Ryan McCort, Colin Lancaster, Mitesh, Sameer Buch, Brittany Lynch, DMFI, Goldman, Verition, Nicholas Maounis, Josh Goldstein, Brian Townes, Townes, Elizabeth Xiang MD, Vir, Steve Satenstein, Chris Svoboda, Will England, Thomas DeAngelis, DeAngelis, Jonathan Brenner, hasn't, Maureen Reed, John Sullivan, Brenner, Walleye's Organizations: Service, Management, Wall, Business, Balyasny, Balyasny Asset Management, Quadra Advisors, SAC, Macquarie, BD, UBS, Grad, Financial Times, Michael, Lascaux, Howard BD, Brevan, Argentum Advisors, BH Digital, McKinsey & Company, JPMorgan, Ken Griffin's Citadel, Citadel, Citadel's, decamping, Chicago, Citadel BD, Walleye Capital, of Surveyor, Millennium, Capital, Credit, Ashler, Rice, Deutsche Bank, LMR Partners, London, Dore Partnership, Soros, Soros Fund, Ronda Churchill, Bloomberg, Getty, Guggenheim, Industry, MLP, Americas Guggenheim, Americas Citadel, SAC Capital, SEC, Point72 Academy, Citigroup, BD Energi, Japan, EMEA, APAC BNP, Schonfeld, PAAMCO, KKR, DMC Partners, Topwater, LinkedIn, New, New Holland Capital, BD —, Walleye, Lehman Brothers, Hutchin, Putnam Investments, ~$ Locations: America, Asia, Balyasny, Blackstone, New Holland, Abu Dhabi, BlueCrest, Europe, Graticule, ExodusPoint, Hornick, Freestone, New York, Schonfeld, Brevan, he's, Aberdeen, Hong Kong, Zurich, Glasgow, Dubai, Americas, Point72, quant, Verition, London, Greenland, Minnesota, Citadel

☆ Russians are so desperate to see Western pop stars, they are paying to go on 'concert vacations' abroad
▼ + stars: | 2024-05-08 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +3 min

The company has sold 150 concert vacations since last year, according to The Telegraph. Russian music fans, however, appear to be so desperate to see their favorite artists that they are paying thousands to go on "concert vacations" abroad. A spokesperson for the operator told The Telegraph that it had sold 150 concert vacations since it launched its packages in the fall of last year. One of the packages — a five-day trip to see Ed Sheeran perform in Belgrade, Serbia, in August — costs around $1,123. "Western superstars don't perform in Moscow anymore," Jonny Tickle, a British man living in Moscow, wrote on X.

Persons: Ed Sheeran, James Blunt, —, Snoop, Sheeran, Jonny Tickle, Taylor Swift, Dua Lipa, Adele, Tickle, Guy Berryman, hadn't, Coldplay, Svyatoslav Vakarchuk, Elzy, Vakarchuk Organizations: The, Service, Express, The Telegraph, Scorpions, Ukraine, Europa, Coldplay, Russian Express Locations: Russian, Europe, Russia, Ukraine, Zagreb, Croatia, Dubai, Belgrade, Serbia, Moscow, British, Dua, Munich, Budapest, Vienna, Ukrainian, Brussels

☆ Atlantis The Royal, Dubai: Inside the Middle East’s ‘best’ hotel
▼ + stars: | 2024-05-07 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +9 min

Atlantis, The Royal Atlantis, The Royal: The double-height bar is perfect for sunset cocktails — although you won't be making your own drinks, as there's a 24-hour bartender ready to make your favorites. Atlantis, The Royal Atlantis, The Royal: The triple-height library provides a secluded space to work, read or relax. Atlantis, The Royal Atlantis, The Royal: The entertainment room is kitted out with a 98-inch LED screen for a home cinema experience. Atlantis, The Royal Atlantis, The Royal: Every room has stunning views — including the marble-clad bathrooms. Atlantis, The Royal Atlantis, The Royal: Guests can enjoy designer amenities made by French fashion house Hermès, as well as bespoke gold toothbrushes, combs and brushes.

Persons: Swedish House Mafia —, there’s, ”, Tom Roelens, There’s, Cabana, Rebecca Cairns, Kendall Jenner, “ We’ve, we’ve, Graff, bathrobes, Jay Z, Louis, Valentino —, “, it’s, Estiatorio Milos, Costas Spiliadis, — Organizations: CNN, Swedish House Mafia, Royal, Atlantis Resorts, Dolce, Gabbana, cabanas, Atlantis, “ Royal, Nobu, —, Chefs, Sky Locations: Dubai, Beyoncé, isn’t, Arabian, Atlantis Royal Dubai

☆ Oil edges up after Israel strikes Gaza, while truce talks continue
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: +1 min

Oil rig and pump of H&P Rig 488 in Stanton, Texas, on June 8, 2023. Oil prices ticked up early on Tuesday after Israel struck Rafah in Gaza while negotiations for a ceasefire with Hamas continued without resolution. Israeli forces struck Rafah on Gaza's southern edge from the air and ground and ordered residents to leave parts of the city, which has been a refuge for more than a million displaced Palestinians. Riyadh's move to raise the official selling prices for its crude sold to Asia, Northwest Europe and the Mediterranean in June also supported prices, signaling expectations of strong demand this summer. The world's top exporter hiked its flagship Arab Light crude oil price to Asia to $2.90 a barrel above the Oman/Dubai average in June, the highest since January and at the upper end of traders' expectations in a Reuters survey.

Persons: Israel Organizations: Brent, U.S, West Texas, Hamas Locations: Stanton , Texas, Israel, Rafah, Gaza, Israeli, Asia, Northwest Europe, Oman, Dubai

☆ Emirates' chairman has a message for Boeing: 'Get your act together'
▼ + stars: | 2024-05-07 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

With 245 passenger planes and five 778 freighters on order, Emirates is Boeing's largest customer in terms of wide-body jets. Emirates airlines Boeing 777-31H(ER) takes off from Los Angeles international Airport on January 13, 2021. Al Maktoum, who sits at the helm of the world's largest long-haul airline and helped launch it in 1985, echoed the sentiments of many other airline CEOs when it comes to expectations for Boeing. Asked if he had a message for the plane maker, Al Maktoum said: "I always say, you know, get your act together and just do it. The chairman did not indicate that Emirates would cancel the Boeing orders or move them to its French rival, Airbus .

Persons: We're, it's, Sheikh Ahmed bin Saeed Al Maktoum, CNBC's Dan Murphy, Bauer, Griffin, Al Maktoum Organizations: United Arab Emirates, Dubai's, Emirates, Arabian, Boeing, Los Angeles, Airport, Aaronp, CNBC, Airbus, Alaska Airlines Flight, National Transportation Safety Board, NTSB, Reuters Locations: DUBAI, United Arab, Dubai, Emirates, Los, Alaska, Portland , Oregon, U.S

☆ Saudi Arabia needs peace in the Middle East for its $500 billion Neom megaproject to succeed
▼ + stars: | 2024-05-07 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

In March 2023, Iran and Saudi Arabia brokered a deal to re-establish diplomatic relations. Related storiesThe US and Saudi Arabia are in the final steps of a new agreement on security guarantees and civilian nuclear assistance, Reuters reported last week. Many of Neom's projects aimed at capturing the luxury tourism market are located along the Red Sea coast. Set to open next year, Neom's luxury island resort of Sindalah is advertised as an "exclusive gateway to the stunning Red Sea." Saudi officials are already fighting to combat claims that Neom is facing delays and setbacks.

Persons: —, it's, Israel, Kristian Coates Ulrichsen, Ulrichsen, Robert Mogielnicki, Mogielnicki, Neom Organizations: Saudi, Service, Neom, New York Times, Reuters, Rice, Baker Institute for Public Policy, Gulf States Institute, Bloomberg, Business Locations: Saudi, Dubai, Israel, Gaza, Iran, Saudi Arabia, China, Palestinian, Israeli, Red, Jeddah

☆ Nigerian artist Dotun Popoola’s stunning metal sculpture shows ‘the beauty of Black women all over the world’
▼ + stars: | 2024-05-06 | by ( Leah Collins | ) edition.cnn.com time to read: +6 min

CNN —Celebrating the beauty of Blackness and protesting “environmental decadence” for a cleaner, waste-free future: that’s the vision of award-winning Nigerian metal sculptor and visual artist Dotun Popoola. Popoola’s most recent sculpture is a 12-foot-tall, 882-pound piece depicting the decorated head and neck of an African woman, inspired by his wife. “The work showcases the beauty of Black women all over the world,” Popoola said of the piece, which he began in 2022. “The amount of support shown by women all over the world made me shed tears of joy in my studio. If you keep doing what you do, one day you’ll be in the spotlight and the world will be watching.”

Persons: Dotun Popoola, ” Popoola, “, ” Dotun Popoola, ”, Adeola, Popoola, Naomi Campbell, I’d, Tera DuVernay, Ava DuVernay, “ Tera, “ I’ve, Wynton Marsalis, Bryan Stevenson, Irinkemi Asake, “ Mr, ” It’s, Popoola’s, I’m Organizations: CNN, Popoola Studios, Legacy Museum, Equal, Initiative, Obafemi Awolowo University, Art Locations: Nigeria, Lagos, Montgomery , Alabama, America, Alabama, Dubai, Qatar, India, Americas, South Dakota, Africa, Osun State, Southwest Nigeria

☆ From 25 years in prison to just four months: Inside the final verdict on a crypto billionaire CEO archrivalry
▼ + stars: | 2024-05-05 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +18 min

Combination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance. A month earlier, on the opposite coast in downtown Manhattan, FTX's Sam Bankman-Fried received a 25-year prison sentence for his crimes. At the beginning of his trial, SBF sported a fresh haircut and wore suits, but by its end, his curls were wild again. Cryptocurrency exchange Binance founder and CEO Changpeng Zhao speaks at a Binance fifth anniversary event in Paris, France, July 8, 2022. watch nowMoney makes all the differenceUnlike SBF, CZ didn't have his wealth wiped out by bankruptcy of the crypto company he founded.

Persons: Sam Bankman, Zhao Changpeng, Mike Segar, Benjamin Girette, Changpeng Zhao, FTX's Sam Bankman, Fried, Zhao, Binance's Zhao, FTX's, Toyotas, Braden Perry, Perry, Manfred, SBF, Michael Lewis, Lewis, Sam didn't, Amr Alfiky, Sam, Caroline Ellison, —, Zhao's, Yi He, Binance, David Ryder, Yang, Rachel Zhao, Yesha Yadav, Yadav, Mark Bini, Lewis Kaplan, Bankman, Kaplan, perjured, Neama Rahmani, Rahmani, Tre Lovell, Zhao hasn't, Lovell, weren't, FTX Organizations: Reuters, Bloomberg, Getty, Department of Justice, CFTC, Stanford University's, Bankman, CZ, Staff, Reuters Prosecutors, Alameda Research, Vanderbilt University, Wall Street, CNBC, FTX, Emergency Economic, Justice Department, DOJ Locations: Seattle, Manhattan, California, Hong Kong, Bahamas, Palo Alto, U.S, New York City, Alameda, Seattle , Washington, Paris, France, Angeles, Binance, Dubai, Delaware

☆ Brazil floods: At least 29 people killed as heavy rain and flooding lashes Brazil
▼ + stars: | 2024-05-03 | by ( Michael Rios | Lianne Kolirin | ) edition.cnn.com time to read: +2 min

CNN —At least 29 people have been killed and a further 60 are missing as heavy rain and flooding hit the Brazilian state of Rio Grande do Sul this week. Residents and a dog are evacuated from a flooded area in the city center of São Sebastião do Cai, Rio Grande do Sul State, Brazil, on May 2, 2024. Rio Grande do Sul has been increasingly hit by extreme weather events in recent years. Volunteers use a fishing boat to rescue residents trapped inside their houses in São Sebastião do Cai, Rio Grande do Sul state. The proportion of high-intensity hurricanes, or tropical cyclones, has increased due to the warmer global temperatures, according to the UN.

Persons: Cai, Carlos Fabal, Luiz Inácio Lula da Silva, “, ”, Eduardo Leite, Anselmo Cunha, Lizzy Yee, Omar Fajardo Organizations: CNN, Authorities, Getty, Volunteers, UN Locations: Rio Grande do Sul, Rio Grande do Sul State, Brazil, AFP, Dubai, Asia, Kenya, São

☆ I'm a Palestinian startup founder. I wanted to do my part for my home country, but now we have to leave.
▼ + stars: | 2024-05-03 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +9 min

The Palestinian startup sceneOur business is based in Ramallah, where Raya lives. If starting a company in Ramallah could benefit the community by creating jobs and further building on the small startup scene there, we wanted to try. When "The Middle Frame" goes through a hard time in the future, we can look back at that screenshot. In the future, when our business is stable in a different market, we could maybe have a smaller operation in the Palestinian market. The Palestinian startup ecosystem needs more examples of successful startups in the wider region to support the startups in Palestine and more investment bodies to support the early-stage startups.

Persons: Mohammad Alnobani, Alnobani, —, We'd, Raya, creatives, We're, I'd, I've, We've, Raya's, we've, it's Organizations: West Bank, Hamas, Service, Young, Palestine, Israel, Getty, UAE Locations: Gaza, Alnobani, Ramallah, Palestinian Territories, Amman, Jordan, Jerusalem, Belfast, Palestinian, Israel, Saudi Arabia, Nablus, Qatar, London, Boston, East, North Africa, it's, Egypt, Europe, Ramallah —, Dubai, Jordanian, Iran, UAE, Palestine

☆ Abu Dhabi AI firm Presight buys majority stake in technology joint venture AIQ
▼ + stars: | 2024-05-02 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

A general view of the city skyline at sunset from Dhow Harbour on February 5, 2015 in Abu Dhabi, United Arab Emirates. DUBAI — Abu Dhabi artificial intelligence firm Presight bought a 51% stake in AIQ, a joint technology venture between the Abu Dhabi National Oil Company (ADNOC) and G42, a major Abu Dhabi-based AI and cloud company. The new ownership structure will see ADNOC holding 49% of the company and giving it a valuation of $1.4 billion, according to a joint company press release. ADNOC will in turn get a 4% stake in Presight, as it aims to integrate AI into more of its operations and services. AIQ uses AI and machine learning to improve processes in the oil and gas industry.

Persons: Presight, ADNOC, CNBC's Dan Murphy, Chris Cooper, We've, Cooper Organizations: United, United Arab Emirates, Abu Dhabi National Oil Company Locations: Harbour, Abu Dhabi, United Arab, DUBAI, AIQ, Presight, ADNOC

☆ Dubai rain: Flights cancelled, schools and offices shut as storm hits UAE just weeks after deadly floods
▼ + stars: | 2024-05-02 | by ( Mostafa Salem | Abbas Al Lawati | ) edition.cnn.com time to read: +2 min

The floods also killed at least 19 others in Oman, including 10 children whose school bus was swept away in the deluge. A driver navigates a flooded road following a rainstorm in Dubai on May 2, 2024. Scientists linked the record rainfall that hit the UAE and Oman two weeks ago to climate change. Over a period of less than 24 hours during that event, the UAE experienced its heaviest rainfall in since records began 75 years ago. Dubai experienced the equivalent of more than a year and a half’s worth of rain in that time.

Persons: Rouhana, Abu Dhabi, CNN’s Brandon Miller Organizations: United Arab Emirates CNN — Emirates, United Arab Emirates, REUTERS, CNN, Residents, Authorities, UAE Locations: Abu Dhabi, Dubai, Oman, UAE, Ras Al, Khaimah, Abu, El

☆ Opinion: If Trump wins, I might leave America for good
▼ + stars: | 2024-05-01 | by ( David A. Andelman | ) edition.cnn.com time to read: +9 min

In a growing number of cases, that reason can be traced to one proximate source — former President Donald Trump. Or more precisely — how he has torn apart America and our democracy that, for my nearly 80 years on this planet, I have cherished. To be sure, there are reasons for Americans to make the move beyond the prospects of a second Trump presidency. “There’s a feeling of safety that you have and a feeling of belonging in Mexico,” Kahn continued. But as a good American I went, ‘no, I don’t want to go to the hospital.

Persons: David A, CNN Paris CNN — I’ve, Donald Trump, Pamela, “, ‘, ’ ”, Adrian Leeds, Adrian, we’ve, ” Leeds, “ It’s, it’s, ” Patricia Casaburi, they’ve, ”, ” Tony Kahn, ” Kahn, Kahn, Gordon Kahn, J, Edgar Hoover, “ I’m, I’m, I’ve, he’s, Trump, Daniel Tostado, Skyler Schmanski, He’d, Schmanski, ’, ” Schmanski, Giorgia Meloni, you’re, Casaburi Organizations: CNN, French Legion of, The New York Times, CBS News, CNN Paris CNN, Adrian Leeds Group, Citizen Solutions, Trump, PBS, NPR, America, Hollywood, FBI, Mexico City, Global Citizens Solutions Locations: Europe, Asia, Paris, France, Seine, Tuileries, America, London, Dubai, Mexico City, Mexico, ” Paris, Marseilles, American, Spain, Portugal, Greece, Italy, Brazilian

☆ Dubai reveals massive plans for the world’s busiest airport
▼ + stars: | 2024-04-30 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +7 min

A mammoth airport in Saudi Arabia has already set records for size, but new plans in Dubai are ratcheting up the race to be the world’s busiest airport by passenger volume. Saudi Arabia’s King Fahd International Airport currently wears the crown as the largest airport in the world by area. “It will be five times the size of the current Dubai International Airport, and all operations at Dubai International Airport will be transferred to it in the coming years,” Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai, said Sunday when outlining Dubai Aviation Engineering Projects’ strategic plan. The other, Dubai International Airport, was just ranked the No. Dubai AirportsAt present, Dubai World Central’s primary role is as a center for aircraft maintenance, repair and overhaul – “MRO” in industry parlance.

Persons: Saudi Arabia’s King, Atlanta’s, Jackson’s, It’s, Al Maktoum, Markus Mainka, That’s, ” Sheikh Mohammed bin Rashid Al Maktoum, ”, Sheikh Mohammed bin Rashid Al Maktoum, X, Paul Griffiths, Abu Dhabi’s, Foster Organizations: CNN, Saudi, Saudi Arabia’s King Fahd International, King Fahd, Atlanta’s Hartsfield, Jackson, Al, Al Maktoum International, Dubai International Airport, Dubai International, Dubai Aviation Engineering, Emirates Cargo, UAE, Emirates, Dubai Airports, Hamad International Airport, Kuwait International, Partners, Sharjah International Airport, Air Locations: Gulf States, Saudi Arabia, Dubai, Bahrain, Hartsfield, Al Maktoum, Saudi, Qatar, Muscat , Oman, Gulf, Kuwait, British, Dubai’s, Sharjah

Cryptocurrency exchange Binance founder and CEO Changpeng Zhao speaks at a Binance fifth anniversary event in Paris, France, July 8, 2022. Former federal prosecutor Neama Rahmani agrees, adding that Zhao's personal wealth won't be affected by his sentence. That's a different siutation from Sam Bankman-Fried, the controversial ex-CEO and founder of crypto exchange FTX. Bankman-Fried received a 25-year prison term for crimes connected to the operation of his crypto exchange. "Negative long-term impact on Binance will diminish the value of CZ's investment in the crypto exchange," said Yadav.

Persons: Changpeng Zhao, Reuters Changpeng Zhao, Zhao, Gabriel Abed, Richard Jones, Tre Lovell, Neama Rahmani, David Ryder, Binance, Braden Perry, Sam Bankman, Joshua de Vos, de Vos, Fried, Yesha Yadav, That's, Forbes, he's, Lucas Kiely, Kiely —, —, Yadav, it's Organizations: Staff, Reuters, CNBC, U.S, U.S . Department of Justice, District, Toyota, Bloomberg, Getty, Bank, Commodity Futures Trading Commission, Vanderbilt University, Department, Securities and Exchange Commission, SEC Locations: Paris, France, Seattle, Zhao, Binance, Los Angeles, Seattle , Washington, Dubai, U.S, bitcoin, Iran

☆ Asia's first spot bitcoin and ether ETFs debut in Hong Kong
▼ + stars: | 2024-04-30 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

Dado Ruvic | ReutersHong Kong on Tuesday launched six spot bitcoin and ether exchange traded funds — becoming the first in Asia to offer retail investors the ability to trade the cryptocurrencies at spot prices. The cryptocurrency ETFs were issued by three Chinese firms — China Asset Management, Bosera Asset Management, and Harvest Global Investments — on the Hong Kong exchange. Spot bitcoin ETFs by ChinaAMC, Bosera HashKey and Harvest were above 3% higher in early trading, but subsequently gave up some gains to trade by about 1.5% higher. The three ether ETFs were trading above 1% in the morning, but fell into negative territory by the late afternoon. The spot crypto ETFs had received regulatory approval under the provision of virtual asset management services, but crypto futures ETFs have been trading on the HKEX since late 2022.

Persons: Dado Ruvic, Bosera, Bitcoin, Antoni Trenchev, Nexo, Trenchev, Han Organizations: Reuters, Tuesday, China Asset Management, Bosera Asset Management, Harvest Global, Hong, Hong Kong's Securities, Futures Commission, ChinaAMC, U.S . Securities, Exchange Commission, CNBC, Stock Exchange of Hong, ., Harvest Global Investments Locations: Reuters Hong Kong, Asia, China, Hong Kong, U.S, Singapore, Dubai, Japan, South Korea, Stock Exchange of Hong Kong

☆ Dubai's new airport will be five times the size of its current one and aims to be the largest in the world
▼ + stars: | 2024-04-30 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

Digital render of the planned entrance of Dubai's Al Maktoum International Airport, set to be the biggest in the world upon completion. DUBAI, United Arab Emirates — Dubai's leadership approved a 128 billion dirham ($35 billion) plan to build a new passenger terminal at the emirate's Al Maktoum International Airport, which will make it five times bigger than Dubai's main international airport in terms of size — and the biggest in the world. For reference, Dubai International Airport in 2023 serviced 86.9 million passengers, the second-highest in the world after Atlanta's Hartsfield-Jackson International Airport in the U.S.All of the operations at Dubai International Airport, currently the second-busiest in the world by passenger traffic, will be transferred to it in the coming years, the statement said, adding that the new airport will have 400 aircraft gates and five parallel runways. An entirely new city will be built around the airport, which the Dubai ruler said will create demand for housing for a million people. Dubai will be the world's airport, its port, its urban hub, and its new global center."

Persons: Dubai's Al, United Arab Emirates —, Al, Sheikh Mohammed bin Rashid Al Maktoum, Atlanta's, Sheikh Maktoum, Sheikh Ahmed bin Saeed Al Maktoum, Al Maktoum Organizations: Dubai's Al Maktoum International Airport, United Arab Emirates, Al Maktoum International Airport, Al Maktoum International, Dubai International Airport, Atlanta's Hartsfield, Jackson International Airport, U.S, The Dubai Media Office, Dubai's, Emirates Airline, Dubai Locations: Dubai's, Dubai's Al Maktoum, DUBAI, United Arab, Al Maktoum, Dubai, UAE, @emirates

☆ Even as He Faces Prison Time, Binance’s Founder Plans a Comeback
▼ + stars: | 2024-04-30 | by ( David Yaffe-Bellany | Cade Metz | ) www.nytimes.com time to read: +1 min

And he chatted about start-ups with Sam Altman, the chief executive of OpenAI. After pleading guilty to a money-laundering violation in November, Changpeng Zhao, the founder of the cryptocurrency exchange Binance, did not sit still. A federal judge denied his request to return home to Dubai, but Mr. Zhao, 47, was free to roam the United States. When he pleaded guilty, Mr. Zhao, once the most powerful figure in the global crypto industry, resigned as Binance’s chief executive and agreed to pay a $50 million fine. But Mr. Zhao, who goes by the initials CZ, is already looking to the future.

Persons: Sam Altman, Changpeng Zhao, Zhao, Forbes Organizations: OpenAI Locations: Montana, U.S, Telluride, Colo, Moab , Utah, Dubai, United States, Seattle

☆ G7 agrees to shut down coal plants by 2035, UK minister says, in climate breakthrough
▼ + stars: | 2024-04-29 | by ( Angela Dewan | ) edition.cnn.com time to read: +3 min

CNN —Ministers from the Group of Seven nations have agreed to shut down all their coal plants by 2035 at the latest, a UK minister said on Monday, in a climate policy breakthrough that could influence other countries to do the same. Putting an end date on coal — the most climate-polluting fossil fuel — has been highly controversial at international climate talks. Many of the other G7 nations already have national plans in place to phase out the fossil fuel. “Coal might be the dirtiest, but all fossil fuels need to be ultimately phased out,” he said. Energy, environment and climate ministers are meeting in Turin for talks that are expected to end on Tuesday.

Persons: ” Andrew Bowie, ”, Dave Jones, “ Organizations: CNN, Japan, Department for Energy Security, CNBC, Turing, UK Ministry for Energy, US State Department, Energy, European Union Locations: Italy, COP28, Dubai, France, Canada, United States, Japan, Turin, Germany, United Kingdom, China, India, Saudi Arabia, Russia

☆ Dubai is pumping $35 billion into building what it says will be the world's biggest airport
▼ + stars: | 2024-04-29 | by ( Matthew Loh | ) www.businessinsider.com time to read: +2 min

Sheikh Mohammed bin Rashid Al Maktoum, the emirate's ruler, said the upgraded Al Maktoum International Airport will feature a capacity of 260 million passengers, the world's largest. "Dubai will be the world's airport, its port, its urban hub, and its new global center." Related storiesBy comparison, the world's busiest airport in 2023, the Hartfield-Jackson Atlanta International Airport, saw 104.6 million passengers that year. AdvertisementMost international flights now operate out of Dubai International Airport, which some 87 million passengers visited in 2023. The Al Maktoum International Airport, also known as Dubai World Central, was opened in 2010 with one terminal.

Persons: —, Sheikh Mohammed bin Rashid Al Maktoum, Sheikh Mohammed, Al Maktoum, Al Organizations: Dubai, Service, Al, Al Maktoum International, Jackson Atlanta International Airport, Dubai International Airport, Al Maktoum International Airport Locations: Dubai, Al Maktoum

☆ Saudi Arabia wants big spenders for the first part of its Neom megaproject
▼ + stars: | 2024-04-28 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

Saudi Arabia plans to open the first part of its Neom megaproject this year. Saudi Arabia is pushing to distinguish itself in the high-end luxury market to compete with Dubai. AdvertisementSaudi Arabia plans to open the first region of its Neom megacity by the end of the year. Neom recently ended investor roadshows in China by confirming the luxury island resort would open this year, Arab News reported. A rendering of The Line, part of the Neom project planned by Saudi Arabia.

Persons: —, Neom, roadshows, It's, Marriott Bonvoy, Chadi, MDLBEAST, Kristian Coates Ulrichsen, Saudi Arabia hasn't, Ulrichsen, Saudi Crown Prince Mohammed bin Salman's Organizations: Dubai, Service, Arab News, Marriott, United, Rice, Baker Institute for Public Policy, Emirates, Saudi, Bloomberg, Business Locations: Saudi Arabia, Sindalah, China, Saudi, Vives, Dubai, United Arab Emirates, Saudi Crown, Gulf Kingdom

☆ Rival airlines Emirates and Etihad are both flying their luxe Airbus A380s to the US. See how the superjumbos compare.
▼ + stars: | 2024-04-28 | by ( Taylor Rains | ) www.businessinsider.com time to read: +1 min

Etihad Airways and Emirates both fly luxe Airbus A380 superjumbos between New York and the UAE. Both of the UAE airlines offer unique luxuries like an onboard bar and lounge — and even a shower. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementEtihad's luxurious A380 will rival UAE carrier Emirates, the world's biggest operator of the behemoth double-decker. Here's how the cabin products on Etihad's A380 compare to those on Emirates' refurbished superjumbos.

Persons: —, John F Organizations: Etihad Airways, luxe Airbus, Emirates, UAE, Service, Airbus, New, Kennedy International, The, Boeing, Etihad Locations: Emirates, New York, UAE, Abu Dhabi, The UAE, JFK, Dubai . Emirates

☆ Dubai property boss says floods were overexaggerated: 'Things like that happen in Miami regularly'
▼ + stars: | 2024-04-28 | by ( Matt Clinch | ) www.cnbc.com time to read: +1 min

Flash floods that formed led to water engulfing cars, in some areas fully submerging them, leading hundreds of drivers to abandon their vehicles on roads to escape the rising water levels. The deluge also closed schools and businesses, grounded hundreds of flights, and destroyed cars, businesses and other property. Damac's Sajwani conceded there was chaos at the airport, but said the UAE had recovered much faster than other nations would have. "Fine, we get some, in one of the malls, some damage. He explained that he arrived in Dubai from London just a few hours after the rains had stopped, and visited all the major properties that belong to his company.

Persons: Hussain Sajwani, Damac's Sajwani, CNBC's Dan Murphy, it's Organizations: Damac, United, UAE, Energy Locations: United Arab, UAE, Riyadh, Saudi Arabia, Dubai, London

How the U.S. Humanitarian Pier in Gaza Will WorkA humanitarian pier the U.S. military will bring to the Gaza Strip is currently being assembled and is expected to be ready to receive initial shipments of food and other aid early next month, according to military officials. Pier At the pier, loaded aid trucks are driven to Gaza’s shore. Gaza Strip EMPTY TRUCKS return to the pier Humanitarian partners will pick up aid near the shore to take it into the Gaza Strip. Pier At the pier, loaded aid trucks are driven to Gaza’s shore. Gaza Strip EMPTY TRUCKS return to the pier Humanitarian partners will pick up aid near the shore to take it into the Gaza Strip.

Persons: Juan Camilo Jimenez Garces, Trucks, OCHA, U.N, David Satterfield, Israel Organizations: United Nations, U.S . Agency for International Development, Military, Aid, Spanish, BANK, New York Times Ships, Army, New York Times, Food, WFP GAZA, United Nations Office, Humanitarian, New York Times Aid, Hamas, U.S Locations: U.S, Gaza, Larnaca, Cyprus, Dubai, Kenya, Europe, CYPRUS Larnaca, BANK GAZA, ISRAEL EGYPT, LEBANON, Israel, United States, Med, ISRAEL Rafah, Shalom, Egypt, Israel’s

☆ Meet the Dubai artist whose work has sold for millions — and turns down 99% of prospective buyers
▼ + stars: | 2024-04-26 | by ( Lucy Handley | In | ) www.cnbc.com time to read: +2 min

watch nowContemporary artist Sacha Jafri prides himself on his unique way of working. The artist Sacha Jafri at his studio in Dubai, U.A.E. He said he goes into a meditative state when creating his work. So, I'm in a meditative state, I'm in a complete trance, I have no clue what I'm doing. Artist Sacha Jafri painting on the helipad at the Burj Al Arab Jumeirah hotel in Dubai.

Persons: Sacha Jafri, Jafri, I've, Andre Abdoune, Emad Salehi Organizations: Oxford, Ruskin School of Art, CNBC, Burj, Burj Al Arab Jumeirah Locations: Dubai, London, U.S, British, U.A.E, Burj Al Arab

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