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☆ 'Porous' sanctions haven't stopped Russia's war, but there's still more the West can do to squeeze its economy
▼ + stars: | 2024-03-10 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +5 min

According to Peach, sanctions haven't halted money from non-Western countries flowing to Russia. Even G7's bid to curb export income through a $60 per barrel cap on the price of oil hasn't really hobbled Moscow's oil trade. The West has reduced imports of Russian energy significantly but Russia has largely re-routed oil exports to Asia." Peach wrote that the West could squeeze Russian energy more by slapping secondary sanctions on third-party purchases of oil and gas from the country. AdvertisementBut it's unlikely for the West to take this path, he added, given Russia's energy dominance and the risk of sparking volatility that could end up antagonizing partners like India.

Persons: —, Vladimir Putin, Owen Matthews ,, Putin, Liam Peach, Peach, Matthews, Russia mobilizes Organizations: Service, Business, Capital Economics, Export, Central Bank of Russia, Russia, China Goods Trade, SA Locations: Ukraine, Moscow, Russia, Nord, Turkey, UAE, Asia, Europe, Russian, China, Dubai, American, India

☆ As Israel’s Ties to Arab Countries Fray, a Strained Lifeline Remains
▼ + stars: | 2024-03-10 | by ( Vivian Nereim | ) www.nytimes.com time to read: +1 min

Only a few years ago, plenty of citizens of the United Arab Emirates were willing to speak warmly about their country’s budding ties with Israel. Two women, Emirati and Israeli, posed for a photograph holding hands atop a skyscraper in Dubai. American, Emirati and Israeli officials predicted that their deal, called the Abraham Accords, would spread peace across the Middle East. But now, as Israel’s monthslong bombardment of Gaza fuels anger around the region, Emirati fans of the deal are increasingly hard to find. Some Emiratis, although frustrated with the accords, said they were afraid to speak publicly, citing their authoritarian government’s history of arresting critics.

Persons: Israel, “, ” Organizations: United Arab, Emirates, Abraham Accords Locations: United Arab Emirates, Israel, U.S, Dubai ., Gaza

☆ Meet the heavy metal-drumming CEO bringing back cheap transatlantic travel, and learning from the mistakes of his airline's failed predecessors
▼ + stars: | 2024-03-10 | by ( Pete Syme | ) www.businessinsider.com time to read: +8 min

Birgir Jónsson is the CEO of Play, an Icelandic airline offering cheap transatlantic flights. Jónsson told BI how Play keeps costs low, and how important volcanoes are to Icelandic tourism. From 2014 to 2015, he was the deputy CEO of Wow Air, an Icelandic ultra-low-cost carrier that went bankrupt in 2019. AdvertisementHis foray into the sector began as CEO of Iceland Express, which was acquired by Wow. While other airlines had to avoid the country's airspace — lengthening journey times — Play got planes at discount prices.

Persons: —, Jónsson, Icelandair, it's, York's, New Orleans —, Etienne De Malglaive, Los Angeles —, They're Organizations: Jónsson, Service, Wow, Iceland Express, Icelandic Post, Southwest, Ryanair, York's Stewart, Airbus, North, British Airways Flight, Nasdaq, Russia Locations: Icelandic, Europe, New York, London, Reykjavík, Romanian, Manhattan, Iceland, New Orleans, Eyjafjallajökull, India, Los Angeles, California, Dubai, Russia

DUBAI, United Arab Emirates (AP) — Saudi oil giant Aramco on Sunday reported it made $121 billion in profit last year, down from its 2022 record due to lower energy prices. It had reported a $161 billion profit in 2022, likely the largest ever reported by a publicly traded company. “The decrease mainly reflects the impact of lower crude oil prices and lower volumes sold, and weakening refining and chemicals margins,” the company said in its filing. The energy giant had planned a conference call Monday to discuss its results. The crown prince hopes to use the oil wealth to pivot the kingdom off oil sales, such as with his planned $500 billion futuristic desert city, called Neom, and other projects.

Organizations: United Arab Emirates, Sunday, Aramco Locations: DUBAI, United Arab, Saudi, Aramco

☆ Oil prices edge higher after U.S. stocks build less than expected
▼ + stars: | 2024-03-07 | by ( ) www.cnbc.com time to read: +1 min

Oil prices ticked higher on Thursday after U.S. crude inventories rose less than expected last week and fuel stocks saw large draws. Oil prices ticked higher on Thursday after U.S. crude inventories rose less than expected last week and fuel stocks saw large draws. Brent crude futures rose 15 cents to $83.11 a barrel by 0021 GMT, while U.S. West Texas Intermediate crude futures rose 18 cents to $79.31 a barrel. The benchmarks edged up about 1% on Wednesday after crude inventories rose for a sixth week in a row, building by 1.4 million barrels, about two-thirds of the 2.1 million-barrel rise analysts had forecast in a Reuters poll. Gasoline and distillate stocks fell more-than-expected, the EIA data also showed.

Persons: Jerome Powell Organizations: Brent, U.S, West Texas, U.S . Federal Locations: U.S ., U.S, Beijing, Saudi Arabia, Asia, Oman, Dubai

☆ A revived luxury cruise line wants you to spend 4 ½ months at sea sailing to 27 countries for $84,000
▼ + stars: | 2024-03-07 | by ( Brittany Chang | ) www.businessinsider.com time to read: 1 min

On January 11, 2026, the cruise line says its Crystal Serenity will head west from California to Pacific Islands like Bora Bora. Crystal says its 2026 world cruise will stop at Dubai. Lu ShaoJi/Getty ImagesThen, it's off to New Zealand and Australia before hitting destinations like Hong Kong, Mumbai, and Bali, Indonesia.

Persons: Lu ShaoJi Locations: California, Pacific, Bora, Dubai, New Zealand, Australia, Hong Kong, Mumbai, Bali, Indonesia

☆ Etihad Airways signals possible IPO after 2023 revenue rebound
▼ + stars: | 2024-03-06 | by ( Dan Murphy | ) www.cnbc.com time to read: +2 min

Abu Dhabi's Etihad Airways is gearing up for a potential initial public offering after increasing revenue in 2023 on the back of a 40% boost in passenger numbers. Asked about a possible listing, Etihad Airways Group CEO Antonoaldo Neves told CNBC on Tuesday, "I'm working to be ready, whenever it's the time." Talk of an IPO has been swirling after it was reported that ADQ, the Abu Dhabi-based investment company that owns Etihad Airways, was in discussions with banks about going public as soon as this year. "It's not for me to confirm the shareholder decisions," Neves said, while also signaling efforts to prepare the airline. If it materializes, an IPO would enable Etihad to tap capital markets to fund future growth and expansion plans.

Persons: Abu, Antonoaldo Neves, Neves, ADQ, Raffael Quintas Organizations: Abu Dhabi's Etihad Airways, Etihad Airways Group, CNBC, Etihad Airways, Etihad, Emirates, Portuguese, TAP, Azul Airlines Locations: Abu Dhabi, Dubai, New York, Azul

☆ The UAE is a global leader in diamond trading. Now, it wants to grow them, too
▼ + stars: | 2024-03-06 | by ( Ana De Oliva | ) edition.cnn.com time to read: +7 min

The United Arab Emirates (UAE) is a global leader in diamond imports and exports, but it does not have any diamond mines. In 2022, he co-founded Dubai-based 2DOT4 Diamonds, becoming the first to produce, cut, and polish lab-grown diamonds in the UAE. “The mined diamond, you don’t control it, the Earth is doing it.”To grow a diamond, you start with a diamond, either lab-grown or mined, explains Sabeg. Last year, the country underwent a tax reform in the sector and pledged extra funding to further expand its man-made diamond industry. “Sixty years ago, if you tell someone this is a synthetic or a lab-grown diamond, they won’t even look at it,” he adds.

Persons: CNN —, Mohamed Sabeg, ”, ” Mohamed Sabeg, Paul Devitt, It’s, Everest —, CNN “, Paul Zimnisky, Ahmed Bin Sulayem, Bin Sulayem, “, Zimnisky Organizations: CNN, International Gem Society, United Arab Emirates, Dubai Multi Commodities Center, HRA Locations: Russia, South Africa, UAE, Dubai, 2DOT4, US, China, India, CNN India, Emirate

☆ Dubai’s bar scene is being redefined by artisanal champagnes
▼ + stars: | 2024-03-05 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +12 min

While the city has over 13,000 restaurants, its bar scene has largely been confined to Michelin fine dining, nightclubs, and boozy brunches. Look through the gallery and see the region's other top restaurants, as selected by 50 Best list group. The 50 Best has unveiled its 2024 list of the best restaurants in the Middle East and North Africa (MENA). Al Muntaha, which was recognized by Star Wine List as having the best sparkling wine list in the UAE earlier this year, has 166 labels on its champagne list, including around 60 recently added grower champagnes, says Lacroix. Tina HillierAnd the culture around drinking is largely focused on dining or special occasions, with little in between, says Krister Bengtsson, founder of Star Wine List.

Persons: Lana —, Nicolas Caupain, ”, boozy, Caupain, Raz Rahav, Tala Bashmi, Em Sherif, Yasmina Hayek, Fawzi Al Mulki, 3Fils, Khufu's, Solemann Haddad, Moonrise, Gregoire Berger, Berger, Himanshu Saini, Pol Roger, Queen Elizabeth II, Winston Churchill, champagnes, Larmandier Bernier, Ulysse Collin, Samuel Lacroix, Al Muntaha, Lacroix, “, Josette, Veuve Clicquot, Dom Pérignon, Millau, Lana, Tina Hillier, Krister Bengtsson, it’s, Bengtsson, ” Bengtsson, Jean Imbert, — Organizations: CNN, High Society, United Arab, Michelin, Middle, Gulf, Jordanian, Trèsind, Burj, Star Wine, Arabian, BOCA, Michelin Star, Wine, UAE Locations: Dorchester, Dubai, Emirate, Islam, United Arab Emirates, UAE, East, North Africa, Tel Aviv, Tala, Manama's, Bahrain, Beirut, Giza, Cairo, Ossiano, Atlantis, BOBY, Africa, Emirates, Swedish, Dubai’s, Paris, London , New York, French

☆ Want an A-lister like Rihanna to perform at your wedding? Here's how much it could cost you.
▼ + stars: | 2024-03-05 | by ( Madeline Berg | ) www.businessinsider.com time to read: +5 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Advertisement"If you can afford it, why wouldn't you fly in your favorite artist to perform your favorite songs rather than simply listening to covers?" He had Beyoncé perform at a celebration for his daughter's 2018 wedding, and the next year had The Chainsmokers and Chris Martin at his elder son's wedding festivities. "Generally speaking, you will never beat the thrill of having a major artist perform at your wedding. That means stars may be more amenable to playing at a wedding or corporate party than previously.

Persons: Rihanna, Anant Ambani, Radhika Merchant, —, Bill Gates, Mark Zuckerberg, Ivanka Trump, India's, Mukesh Ambani, hasn't, Stuart McNeill, Craig David, Elton John, Nile Rodgers, Lady Gaga, Flo Rida, Sting, Andrea Bocelli, Kardashian, Chris Martin, it's, Ambani, Beyoncé, Alison Laesser, Alison Bryan, Keck, Usher, you'd, McNeill Organizations: Service, Business, Knightsbridge, Davos, Keck, Spotify, Apple, Forbes Locations: Gujarat, India, Baden, Chicago, New York, Dubai

☆ British Airways is spending $9 billion to help make it the world's favorite airline once again after years of slumping popularity
▼ + stars: | 2024-03-05 | by ( Pete Syme | Taylor Rains | ) www.businessinsider.com time to read: +4 min

Read previewBritish Airways unveiled a host of new initiatives at a media event in London on Monday, as part of a $9 billion "transformation." The UK flag carrier was named the world's best airline by Skytrax in 2006, but its reputation has since faltered. With a new seat design, new routes, and upgrades to the Airbus A380, here's how BA is changing. British Airways is rolling out the new seat design to its Airbus A320neo and A321neo jets, used on its short-haul flights. The business-class configuration on BA's new short-haul seats.

Persons: —, Sean Doyle, Pete Syme, it's, There's, that's, Neil Chernoff, Francisco —, Chernoff Organizations: Service, British Airways, Skytrax, Business, Airbus, Delta Air Lines, Boeing, Washington Dulles, Dubai Airport, Beta Locations: London, Dallas , Los Angeles, Miami, Dubai, Johannesburg, South Africa, Boston, Washington, Singapore, London Heathrow, Malaysian, Kuala Lumpur, London Gatwick, Bangkok

The Houthi attack involved bomb-carrying drones and one anti-ship ballistic missile, the U.S. military's Central Command said. The U.S. later launched an airstrike destroying three anti-ship missiles and three bomb-carrying drone boats, Central Command said. Gen. Yahya Saree, a Houthi military spokesman, acknowledged the attack, but claimed its forces targeted two American warships, without elaborating. Despite more than a month and a half of U.S.-led airstrikes, Houthi rebels have remained capable of launching significant attacks. Smoke poured out of one container aboard the vessel, which also showed scorch marks from the impact from a Houthi missile.

Persons: Yemen's, Carney, Arleigh Burke, Yahya Saree, ” Saree, Smoke Organizations: United Arab Emirates, —, Hamas, U.S . military's, Command, U.S, Central Command, MSC Sky, Mediterranean Shipping Co Locations: DUBAI, United Arab, U.S, Red, Gaza, Brig, Israel, Iran, Kolkata, Gulf, Aden, Switzerland, Singapore, Djibouti

DUBAI, United Arab Emirates (AP) — The Middle East franchisee of Starbucks said Tuesday it has begun firing around 2,000 workers at its coffee shops across the region after the brand found itself targeted by activists during the ongoing Israel-Hamas war in the Gaza Strip. Alshaya runs about 1,900 Starbucks branches in Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Qatar, Saudi Arabia, Turkey and United Arab Emirates. Since the beginning of the war on Oct. 7, Starbucks has found itself alongside other Western brands targeted by pro-Palestinian activists over the war. “We do not use our profits to fund any government or military operations anywhere — and never have.”In October, Starbucks sued Workers United, which has organized workers in at least 370 U.S. Starbucks stores. Starbucks isn't the only brand targeted by activists in the war.

Persons: Alshaya, “, Boycotters Organizations: United Arab Emirates, East, Starbucks, Reuters, Workers United, Israel, McDonald's Locations: DUBAI, United Arab, Israel, Gaza, Kuwait, Bahrain, Egypt, Jordan, Lebanon, Morocco, Oman, Qatar, Saudi Arabia, Turkey, United Arab Emirates, Seattle, U.S

☆ An Indian science graduate was promised a job in Dubai but was tricked into fighting for Russia, reports say
▼ + stars: | 2024-03-03 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +3 min

One person said his brother had been promised a job in Dubai but ended up on the front lines in Ukraine. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSome Indian nationals are being tricked into fighting for the Russian army after having been promised jobs in Dubai, Le Monde reported. About 20 Indians are thought to have fallen victim to similar schemes and are now caught on the front lines in Russia.

Persons: —, Le Monde, Aazad Yousuf Kumar, Baba Vlogs, Faisal Khan, Kumar's, Sajad Ahmad Kumar, Le Organizations: Russian, Service, Telegraph, United Arab Emirates, Indian Embassy, India's Ministry, External Affairs Locations: Dubai, Ukraine, Le, Russia, India, Russian, Rostov, Donetsk, Moscow, New Delhi

☆ Hot on the trail of cherry blossoms — peak times for 2024
▼ + stars: | 2024-03-02 | by ( Forrest Brown | ) edition.cnn.com time to read: +4 min

Editor’s note: Sign up for Unlocking the World, CNN Travel’s weekly newsletter. CNN —In travel news this week: Circling the calendar for peak cherry blossoms, a very rare peek at post-pandemic North Korea and the insightful confessions of a Vegas habitué. While peak bloom can still be up in the air, the dates for the National Cherry Blossom Festival are solidly locked down: March 20-April 14. Meanwhile, Japanese forecasters are out with their own cherry blossom, or sakura, predictions. 02:06 - Source: CNNIn the best of times, a visit to communist North Korea was a rarity.

Persons: Brandon Griggs, He’s, Willy Wonka Organizations: CNN, Washington , D.C, Bloom Watch, National Cherry Blossom, –, Air Albania, AAA Locations: Korea, Netherlands, France, Washington ,, Japan, Wharf, Kochi, Tokyo, wintry Sapporo, Dubai, Atlanta, Air, London, India, United States, North Korea, Russia, Pyongyang, Masikryong, North, Las Vegas, Sin

☆ Dubai jet suit race: Real-life ‘superheroes’ take to the sky in inaugural event
▼ + stars: | 2024-03-01 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +7 min

Against a backdrop of skyscrapers and super yachts, the airborne athletes competed in the inaugural Jet Suit Race Series, an event organized by the Dubai Sports Council and Gravity Industries, the manufacturers of the jet suit. Browning compares the 1,700-horsepower jet suit to “the power of a Bugatti Veyron” sports car in a 30-kilogram (66-pound) backpack. The jet suit uses aviation fuel or diesel, and can go at speeds of up to 136 kilometers per hour (85 miles per hour), Browning’s own record. In 2020, there was a fatal jetpack accident in Dubai, though it was not a Gravity suit.) Test pilots take off in Gravity Industries jet suits ahead of the inaugural race, in Dubai in February 2024.

Persons: Superlatives ”, ”, Richard Browning, “, Browning, Toby Patterson ‘, Browning’s, Toby Patterson “, Issa Kalfon, Paul Jones, Freddie Hay, Kaflon, Ahmed Al Shehhi, Al Shehhi, he’s, it’s Organizations: CNN, Dubai Sports Council, Gravity Industries, CAA, FAA, Royal Marines, Great North Air Ambulance Service, Industries, British Royal Navy, Commando Royal Marines, JetPack Aviation Locations: Dubai, “ City, Superlatives, UAE, Lake District, California

☆ A new company is shipping Arctic ice from Greenland to chill posh drinks in Dubai
▼ + stars: | 2024-03-01 | by ( Laura Paddison | ) edition.cnn.com time to read: +5 min

The startup company, Arctic Ice, shipped its first container of around 22 tons of Greenland ice to Dubai this year for sale to high-end bars and restaurants. Founded in 2022 by two Greenlanders, Arctic Ice has an interesting — and controversial — business model. Arctic Ice claims it’s offering a novel way to harness a natural resource, carving out new economic opportunities and raising awareness of the Arctic. Various attempts have been made over the past few decades to bring back natural ice commercially, but with little success. But perhaps inevitably for a business model that involves shipping a diminishing natural resource halfway across the world, Arctic Ice has attracted controversy.

Persons: ”, Malik V, Rasmussen, ” Rasmussen, “, Jennifer Francis, Francis, It’s, Jason Box Organizations: CNN, glitzy, Climate Research, Geological Survey Locations: glitzy Dubai, Dubai, Nuuk, Greenland, Europe, people’s freezers, Norway, Denmark

☆ Dubai wants to build the biggest airport in the world. Here’s how that’s going
▼ + stars: | 2024-02-29 | by ( Miquel Ros | ) edition.cnn.com time to read: +9 min

To put that in perspective, that’s nearly 63 million more travelers than the world’s current busiest airport, Hartsfield–Jackson Atlanta International, handled in 2022 and nearly 100 million more than Dubai International. philipus/Alamy Stock PhotoThe recent Dubai Air Show, held at a purpose-built venue at Al Maktoum International Airport in 2023, offered some intriguing hints about what’s ahead for DWC – and some insights into Dubai Airports’ long-term strategy. “We have prioritized expansion and investments at DXB to meet our customers’ requirements and plans,” Paul Griffiths, Dubai Airports CEO, tells CNN. Changing the business modelNew artist renderings haven't been released in a decade, but Dubai Airports CEO Paul Griffiths says the team will soon be working on ambitious new designs. It will have capacity for 185 million passengers per year, or almost seven times the number it handled in 2022.

Persons: Al Maktoum, it‘ll, that’s, Hartsfield –, let’s, DWC, ’ Al Maktoum, DWC –, ” Paul Griffiths, ”, Griffiths, ” Griffiths, “, haven't, Paul Griffiths, “ We’re, Mohammed bin Rashid, Nadine Itani, Abu Dhabi’s, Foster Organizations: CNN, Al, Al Maktoum International Airport, Dubai World, Dubai Airports, Dubai International, Al Maktoum International, Hartsfield, Hartsfield – Jackson Atlanta International, Emirates Cargo, UAE, ‘, ’ Al Maktoum International, Dubai Air, Dubai, AFP, Traveller, Emirates, University of Surrey, Hamad International Airport, Kuwait International, Partners, Sharjah International Airport, Air, Riyadh Air Locations: Budapest, Al Maktoum, Dubai, Dubai’s, Eastern Europe, Russia, Central Asia, Emirates, England, India, Middle, Europe, Qatar, Muscat , Oman, Bahrain, Gulf, Kuwait, British, Sharjah, Saudi Arabia, Riyadh, Saudi

☆ I'm a budget traveler who flew first class using airline miles. It was amazing but I wouldn't spend money on it.
▼ + stars: | 2024-02-29 | by ( Lauren Poffenbarger | ) www.businessinsider.com time to read: +8 min

I used points from credit-card bonuses to travel first class on Emirates and had a luxurious flight. AdvertisementAfter years of low-budget traveling, my fiancé and I decided to use airline points and flew in Emirates first class from the Maldives to Dubai. Without miles, this first-class flight is usually about $3,000. I used to think flying first class was reserved for the wealthyFlying in Emirates first class was a luxurious experience for me. I wouldn't spend actual money on it, but redeeming our miles for this luxurious first-class experience felt like the best use of our points.

Persons: —, Lauren Poffenbarger, Dom Pérignon, we'd, Bowers, Wilkins, foodie, Hennessy Paradis, Lauren Poffenbarger I'm Organizations: Emirates, Service, Citi, American Express, Bulgari, Dubai International, BMW Locations: Maldives, Dubai, Emirates, Bulgari cologne, Lauren Poffenbarger Emirates

☆ Dubai Airports CEO expects passenger traffic to exceed 90 million by the end of the year
▼ + stars: | 2024-02-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDubai Airports CEO expects passenger traffic to exceed 90 million by the end of the yearPaul Griffiths, CEO of Dubai Airports, says it's "seeing a change in the demographic of passengers. We're seeing younger travelers, less for business purposes, more for leisure."

Persons: Paul Griffiths Organizations: Email Dubai Locations: Dubai

☆ Dubai photographer reveals the UAE’s hidden wildlife
▼ + stars: | 2024-02-28 | by ( Arya Jyothi | ) edition.cnn.com time to read: +5 min

CNN —In a country best known for its soaring skyscrapers, modern architecture and sprawling desert, wildlife isn’t always what comes to mind when people think of the United Arab Emirates (UAE). Originally from India, Karingattil moved to Dubai 17 years ago and began photographing wildlife shortly after, specializing in macro photography, using extreme close ups. With the UAE’s president recently extending the country’s “Year of Sustainability” into 2024, Karingattil uses wildlife photography as a method of capturing the country’s biodiversity and sharing it with others. For Karingattil, conservation is an important aspect of wildlife photography, which he believes can serve as a powerful tool for advocacy. “By removing litter and debris, we can reduce the impact of human activities on the natural world.”

Persons: Anish Karingattil, Karingattil, ” Karingattil, “, ”, Herping, Andrew Gardner, Gardner, couldn't, Anish Karingattil Gardner Organizations: CNN, United Arab Emirates, “, Sustainability ”, Accounting, Biodiversity Conservation, Emirates Nature, Biological Diversity, Emirates Locations: UAE, Dubai, India, Emirates, dugongs, Australia

☆ The hottest housing markets for the super rich in 2024
▼ + stars: | 2024-02-28 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

While luxury real estate has been buffeted by many of the same pressures as the rest of the market — low supply, slow sales, rising prices — the ultra-high-end has fared slightly better. With interest rates stabilizing and possibly falling this year, real estate experts say there are early signs that luxury supply may be growing, which could lead to more sales. The report forecasts that the best-performing U.S. luxury market this year for price growth will be Miami, with an expected increase of 4%, according to the report. New York ranked second in the U.S., with expected price growth of 2%, followed by Los Angeles with 1% growth. Globally, the top market for luxury real estate is expected to be Auckland, New Zealand, with projected price growth of 10% in 2024.

Persons: Douglas Elliman, Frank Wealth, Robert Frank, Liam Bailey, Knight Frank Organizations: Miami, New York Locations: U.S, Los Angeles, Auckland, New Zealand, Mumbai, Dubai, Madrid, Sydney, Stockholm

☆ Bank CEO shrugs off U.S. war on 'woke' capital, says ESG investing is good for business
▼ + stars: | 2024-02-27 | by ( Sam Meredith | Www.Linkedin.Com In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Bill Winters, Chief Executive Officer at the Standard Chartered Bank, attends a panel session of the World Governments Summit in Dubai on February 12, 2024. Ryan Lim | Afp | Getty ImagesStandard Chartered chief executive Bill Winters says environmentally conscious investing can be good for business, dismissing the impact of a U.S. crusade against mission-driven investments. In the United States, for example, Republican lawmakers have decried ESG as a form "woke capitalism" that seeks to prioritize liberal goals over investment returns. But one of the stats that I love is the biggest renewable power center in the United States is the state of Texas, right? Signage atop the Standard Chartered Plc headquarters building, center, in Hong Kong, China, on Monday, Feb. 19, 2024.

Persons: Bill Winters, Ryan Lim, ESG, Winters, CNBC's, — Organizations: Standard Chartered Bank, World Governments, Afp, Getty, Standard, Democratic, Chartered Plc, Bloomberg Locations: Dubai, U.S, United States, Texas, Hong Kong, China

☆ Opinion | Israel Is Losing Its Greatest Asset: Acceptance
▼ + stars: | 2024-02-27 | by ( Thomas L. Friedman | ) www.nytimes.com time to read: +2 min

And if Biden is not careful, America’s global standing will plummet right along with Israel’s. I don’t think Israelis or the Biden administration fully appreciate the rage that is bubbling up around the world, fueled by social media and TV footage, over the deaths of so many thousands of Palestinian civilians, particularly children, with U.S.-supplied weapons in Israel’s war in Gaza. Hamas has much to answer for in triggering this human tragedy, but Israel and the U.S. are seen as driving events now and getting most of the blame. That such anger is boiling over in the Arab world is obvious, but I heard it over and over again in conversations in India during the past week — from friends, business leaders, an official and journalists both young and old. That many civilian deaths in a relatively short war would be problematic in any context.

Persons: I’ve, Biden, Narendra Modi, —, Benjamin Netanyahu Organizations: Biden, U.S, Israel, West Bank Locations: New Delhi, Dubai, Amman, Gaza, Hamas, Israel, U.S, India

☆ Goldman Sachs and Abu Dhabi's Mubadala ink $1 billion partnership to invest in Asia Pacific
▼ + stars: | 2024-02-26 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

DUBAI, United Arab Emirates — Goldman Sachs and Abu Dhabi sovereign wealth fund Mubadala on Monday signed a $1 billion private credit partnership to co-invest in the Asia-Pacific region, with a particular focus on India, the institutions said in a joint statement. The separately managed account, termed the "Partnership," will be managed by Private Credit at Goldman Sachs Alternatives, with a staff based on the ground in various markets across the region. It will invest the long-term capital in "high quality companies ... across the private credit spectrum" across a number of Asia-Pacific markets. The UAE in October 2023 announced a target to invest $75 billion in India over a period of time, while Saudi Arabia set an investment target in the country of $100 billion. "India, in particular, stands out as a key market with significant opportunities in private credit, and where Goldman Sachs has strong exposure and capabilities," said Fabrizio Bocciardi, Mubadala's head of credit investments, in a press release.

Persons: United Arab Emirates — Goldman Sachs, Goldman Sachs, Fabrizio Bocciardi Organizations: United Arab Emirates, Monday, Private Credit, Goldman Sachs, Abu Dhabi Global Market, United Arab Locations: DUBAI, United Arab, Abu Dhabi, Asia, Pacific, India, United Arab Emirates, UAE, Saudi Arabia

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