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☆ Parents paying for college 'is the norm,' expert says. Here's how students can contribute
▼ + stars: | 2023-05-10 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Kevin Dodge | The Image Bank | Getty ImagesWho pays for college, and howMost students and their parents rely on a combination of resources, Sallie Mae's data shows. Even now, there is still plenty of merit-based aid available and free scholarship matching services to help students find it. It's also not too late for families struggling to afford college next year to apply for financial assistance or ask the college financial aid office for more money. Set financial expectations earlywatch now"When it comes to who is responsible for paying for college, it really is a family decision," said Sallie Mae spokesman Rick Castellano. "Setting expectations and involving students in the college planning process ensures everyone enters this major decision with eyes wide open," he said.

☆ UAE cancels Airbus H225M helicopters deal, Breaking Defense reports
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: 1 min

DUBAI, May 9 (Reuters) - The United Arab Emirates has pulled out of a 2021 deal with Airbus (AIR.PA) to procure a dozen H225M Caracal multirole helicopters for about 800 million euros ($880.6 million), Breaking Defense magazine reported on Tuesday. Breaking Defense quoted Muammar Abdulla Abushehab, an official at the UAE's defence and security acquisitions authority, as saying the decision was not political but was based on financial and technical reasons. Airbus said it had no immediate comment when contacted by Reuters. The UAE government media office did not immediately respond to a request for comment. ($1 = 0.9084 euros)Writing by Lisa Barrington Additional reporting by Tim Hepher Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Standard Chartered CEO says big U.S. recession unlikely
▼ + stars: | 2023-05-08 | by ( Yousef Saba | ) www.reuters.com time to read: +3 min

[1/2] The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. REUTERS/Peter NichollsDUBAI, May 8 (Reuters) - Standard Chartered (STAN.L) Chief Executive Bill Winters said on Monday he sees a big recession in the United States as unlikely, although a period of negative growth was possible. "I think it's less the question of a massive decline in the U.S. - I think that's very, very unlikely," Winters said at conference in Dubai, adding the economy was "extremely strong". I think unlikely. First Abu Dhabi Bank, the UAE's biggest lender, earlier this year had considered a bid to take over Standard Chartered, but later said it was no longer doing so.

☆ The UAE had a fantastic year in 2022, UAE’s economy minister says
▼ + stars: | 2023-05-08 | 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 EmailThe UAE had a fantastic year in 2022, UAE’s economy minister saysAbdullah bin Touq al-Marri, the UAE's economy minister, speaks to CNBC's Dan Murphy at the Dubai Fintech Summit.

☆ Etihad Airways signs deal to allow bookings using AI within chat app BOTIM
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +2 min

DUBAI, May 2 (Reuters) - Etihad Airways, Abu Dhabi's state carrier, on Tuesday signed an agreement with technology firm Astra Tech that allows customers to make flight bookings using artificial intelligence within chat app BOTIM, Astra Tech said. Astra Tech has said its GPT is the first that works in the Arabic language. "Through the BOTIM GPT module developed by Astra Tech, flights and other travel-related services are integrated into the Botim app, offering a convenient and innovative way for customers to book Etihad flights," Astra Tech said. Astra Tech bought BOTIM last year for an undisclosed sum from about 12 investors, Astra Tech founder and BOTIM CEO Abdallah Abu Sheikh told Reuters last month. BOTIM is one of the top three digital remittance providers in the UAE, one of the other services the app provides, Sheikh said.

☆ UAE's Aldar Properties to hold off further Egypt investments for now
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +2 min

DUBAI, May 3 (Reuters) - Aldar Properties (ALDAR.AD) will hold off any further investments in Egypt until conditions there stabilise, a senior executive said, as the Abu Dhabi real estate developer reported a 22% jump in first quarter profit on Wednesday. Aldar issued a bourse statement later on Wednesday to reaffirm its commitment to being a long term investor in Egypt. He said the company would only tap debt markets opportunistically, and was in a comfortable liquidity position, with 6.1 billion dirhams in free cash and 4.4 billion dirhams available in undrawn facilities. Aldar reported net profit of 836 million dirhams ($228 million) in the first quarter, up 22% year on year, while revenue rose 14% to 3.1 billion dirhams. Increased demand from overseas and resident expatriate buyers resulted in record quarterly development sales of 4.5 billion dirhams.

☆ Iran seizes second oil tanker in a week in Gulf, US Navy says
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +3 min

DUBAI, May 3 (Reuters) - Iran has seized a second oil tanker in a week on Wednesday in Gulf waters, the U.S. Navy said, the latest escalation in a series of seizures or attacks on commercial vessels in Gulf waters since 2019. In Iran's first response, Tehran's prosecutor announced the oil tanker was seized on a judicial order following a complaint by a plaintiff, the judiciary's Mizan news agency said. The incident comes after Iran on Thursday seized a Marshall Islands-flagged oil tanker in the Gulf of Oman called the Advantage Sweet. The Niovi oil tanker seized on Wednesday had been travelling from Dubai toward the UAE's Fujairah port when it was forced by IRGCN boats to change course towards Iranian territorial waters, the Navy said. Since 2019, there have been a series of attacks on shipping in the strategic Gulf waters at times of tension between the United States and Iran.

BERLIN, May 3 (Reuters) - U.S. climate envoy John Kerry said on Wednesday China has invited him to visit "in the near term" for talks on averting a global climate change crisis even as diplomatic relations between the world's two biggest greenhouse gas emitters remain tense. The United States and China must work together to address climate change, Kerry said in an interview with Reuters on the sidelines of a conference on global warming in Berlin. China, for example, first must issue its plan to reduce methane emissions and advance in the transition away from coal, Kerry added. "We're not pointing fingers and we're not out there trying to, you know, make this part of the other issues that are out there" between the United States and China, Kerry added. "This (climate change) is a free-standing issue which affects China as it affects the United States."

☆ Most Gulf markets fall as Fed seen hiking rates
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +2 min

May 1 (Reuters) - Most major stock markets in the Gulf fell in early trade on Monday, dragged lower by expectations the Federal Reserve will increase interest rates, although the Qatari index bucked the trend. The Fed is predicted to raise rates by another 25 basis points this week. The U.S. central bank has raised its policy rate by 475 basis points since March last year from the near-zero level to the current 4.75%-5.00% range. Dubai's main share index (.DFMGI) fell 0.1%, hit by a 1.1% fall in Emirates NBD Bank (ENBD.DU) and a 0.8% decrease in utility firm Dubai Electricity and Water Authority (DEWAA.DU). In Qatar, the index (.QSI) bucked the trend to trade 0.5% higher, with telecoms firm Ooredoo (ORDS.QA) up more than 5%.

The changes will update the current fee structure on the majority of loans originated by mortgage lenders in the US. Prior to these fee changes, that same borrower would been charged a fee equal to 0.75% of the loan amount. On a $300,000 loan, that's the difference between a $375 fee and a $2,250 fee. While fees have generally been reduced for borrowers with lower scores compared to the old fee structure, those with low scores will still pay higher fees than those with high scores. DTI fee changes coming August 1Another fee change is set to go into effect on August 1, after its implementation was postponed following pushback from the mortgage industry.

☆ Russian sales of weapons to India are being held up by a dispute over which currency to use
▼ + stars: | 2023-04-24 | by ( Jason Ma | ) www.businessinsider.com time to read: +2 min

Deliveries of Russian weapons to India have been on hold due to a currency dispute. Russia is the top supplier of weapons to India, which uses the Su-30 fighter and T-90 tanks. Meanwhile, Russia won't take Indian rupees because of exchange-rate volatility, the report added. Russia is the top supplier of weapons to India, which uses the Su-30 and MiG-29 fighter jets as well as T-90 tanks, among other Russian-made arms. Last month, India complained that Russia isn't delivering weapons it owes because it's throwing everything at Ukraine.

☆ Italy's antitrust takes steps against Meta in music rights case
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: 1 min

MILAN, April 21 (Reuters) - Italy's antitrust authority said on Friday it had taken measures against Meta Platform (META.O) over an alleged abuse of its position in the country, in a probe involving the rights to music posted on the group's platforms. Last month, Meta, which owns Facebook, Whatsapp and Instagram, failed to reach a deal with the Italian society of authors and publishers SIAE, to renew copyright licenses. As a result, all songs under SIAE's books have been blocked on its platforms since March 16. The watchdog said Meta's conduct was harming competition in the market and ordered the tech giant to resume talks with SIAE. Reporting by Federico Maccioni, editing by Gavin JonesOur Standards: The Thomson Reuters Trust Principles.

☆ Real-Estate Agents Face a Reckoning As Housing Market, Home Sales Slow
▼ + stars: | 2023-04-19 | by ( James Rodriguez | ) www.businessinsider.com time to read: +14 min

Just as the housing market goes through booms and busts, so do the ranks of real-estate agents. This has left real-estate agents fighting over a dwindling pool of listings. That makes the job of a local real-estate agent trickier and more nuanced than it was a year ago. "What makes a good real-estate agent and what makes a successful real-estate agent have almost no crossover." She joined a women's support group for real-estate agents on Facebook, where she found many others were experiencing similar challenges.

☆ UAE, Qatar set to restore diplomatic ties and reopen embassies after bitter feud
▼ + stars: | 2023-04-18 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

DUBAI, United Arab Emirates — The United Arab Emirates and Qatar are moving toward restoring diplomatic ties and reopening embassies in each other's countries, just over two years after the lifting of a blockade on Qatar that encapsulated bitter political discord between the two and in the wider Gulf region. The deal to end the three-and-a-half-year political and economic blockade of Qatar by Saudi Arabia, Egypt, the UAE and Bahrain took place in January of 2021, with states vowing to restore relations for the benefit of the region. The UAE expressed similar aims in a statement from a government official. "The UAE's foreign policy is primarily focused on building bridges, economic cooperation and regional deescalation. "At present, the activation of diplomatic ties, which will include the reopening of embassies, is under process between both countries."

OSLO, April 12 (Reuters) - A court in Oslo on Wednesday began hearing a gender discrimination case brought by an employee at Norway's $1.4 trillion sovereign wealth fund against her employer. Elisabeth Bull Daae, head of trading analytics at Norges Bank Investment Management, is suing the unit of the central bank managing the fund for 16 million crowns ($1.54 million) in compensation and damages. The central bank, which pushes the firms it invests in to have more women on their boards and to combat all forms of discrimination, denies the allegations. Or are we in front of a clear, systematic case of pay discrimination based on gender?" The lawyer representing the fund said the relationship between employee and employer had broken down despite its efforts to improve it.

☆ UAE's e& takes $400 mln majority stake in ride-hailer Careem's Super App
▼ + stars: | 2023-04-10 | by ( Lisa Barrington | ) www.reuters.com time to read: +1 min

DUBAI, April 10 (Reuters) - Emirates Telecommunications Group Company (EAND.AD) has agreed to take a 50.3% stake in a super app managed by Careem, Uber Technologies' (UBER.N) Middle East subsidiary, in a transaction valued at $400 million, e& said in a filing on Monday. The Super App will be managed by Careem founders Mudassir Sheikha and Magnus Olsson, said the company, formerly known as Etisalat Group and now called e&. The ride-hailing business will be separated from the Careem Super App business and will be fully owned by Uber, but will still be available on the super app. Careem began seeking outside investors last year to help finance its Super App, which offers services outside its core ride-hailing business such as food delivery, bike rentals, digital payments and courier services. Uber and Careem's co-founders Sheikha, Olsson and Abdullah Elyas have the remaining stakes in the super app, a Careem spokesperson said.

☆ Russia protests to Canada over envoy's remarks about dead blogger
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +1 min

April 7 (Reuters) - Moscow formally protested to Canada on Friday after the country's U.N. envoy described a murdered Russian blogger as "a vitriolic propagandist" and a hate-monger, the foreign ministry said. In a statement, Russia's foreign ministry said it summoned a senior Canadian diplomat to strongly protest about Rae's remarks, which it described as "yet another manifestation of the Russophobia being fomented in Canada." He was a vitriolic propagandist, a spreader of hate and misinformation with a criminal record. Russian investigators have charged Darya Trepova, a 26-year-old St Petersburg resident, with terrorist offences over the killing of Tatarsky. Russia's health ministry said 42 others were injured in the blast.

☆ Energy trader Gunvor posts record $2.36 bln net profit in 2022
▼ + stars: | 2023-04-05 | by ( Ahmad Ghaddar | ) www.reuters.com time to read: +2 min

Companies Gunvor Group Ltd FollowLONDON, April 5 (Reuters) - Gunvor Group posted a record net profit of $2.36 billion in 2022 with a strong performance across all trading desks, the energy trader said in a statement on Wednesday. Gunvor's rivals also had a bumper year amid high price volatility and as Russia's war in Ukraine reshaped global commodity flows, with Vitol and Mercuria previously posting record net profits of $15 billion and $2.98 billion, respectively. Gunvor said its trading volumes fell to 165 million tonnes in 2022 from 240 million tonnes the previous year, due primarily to reduced trading in natural gas, but expected volumes to rebound in the coming year. "The performance was broad-based across all geographies and all desks, including refining and shipping," Gunvor said. Last month, CEO Torbjorn Tornqvist told Reuters that it was considering whether to book a provision in the 2022 year.

☆ Iran appoints first UAE ambassador since 2016 as Gulf relations improve
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

CAIRO, April 4 (Reuters) - Iran said on Tuesday it had appointed an ambassador to the United Arab Emirates for the first time since 2016, amid a realignment of relations between Gulf states and Iran. The move comes after the UAE in August moved to upgrade ties and said it was returning its ambassador to Tehran. The UAE downgraded relations with Iran after Saudi Arabia severed ties with Iran in January 2016 after Iranian protesters stormed the Saudi embassy in Tehran following Riyadh's execution of a prominent Shi'ite cleric. The UAE, which has business and trade ties with Iran stretching back more than a century, started re-engaging with Tehran in 2019 after attacks in Gulf waters and on Saudi energy sites. Iran's newly appointed ambassador Reza Ameri had served as the director general of the Iranian expatriates office in the foreign ministry, Iranian state media said.

☆ Italy probes Meta over abuse of position in music rights case
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

MILAN, April 5 (Reuters) - Italy's antitrust authority said on Wednesday it would investigate Meta Platform (META.O) over the possible abuse of its position in talks over the rights to music posted on Meta's platforms and potentially hurting competition in the sector. According to the antitrust regulator, Mark Zuckerberg's company may have "unduly interrupted the negotiations for the stipulation of the licence for the use on its platforms" of SIAE's music rights, it said in a statement. Last month, Meta, which owns Facebook, Whatsapp and Instagram, failed to reach a deal with SIAE to renew the copyright license. Protecting the copyrights of songwriters and artists is an important priority for us," a spokesperson for Meta said on Wednesday. The investigation involves Meta Platforms Inc, Meta Platforms Ireland Limited, Meta Platforms Technologies UK Limited and Facebook Italy S.r.l.

☆ Up to 1 mln people 'disappeared' in Iraq in last half century - UN
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +2 min

GENEVA, April 4 (Reuters) - Up to 1 million people have been "disappeared" in Iraq during a tumultuous last half century spanning the dictatorial rule of Saddam Hussein, U.S.-led military occupation and the rise of Islamic State militants, the United Nations said on Tuesday. The U.N. Committee on Enforced Disappearances urged Iraq, which has one of the highest numbers of missing people in the world, to seek victims and punish perpetrators. But that was hampered by the lack of definition of enforced disappearance as a crime in Iraqi law, its report said. "The UN Committee on Enforced Disappearances urged Iraq to immediately establish the basis to prevent, eradicate and repair this heinous crime," it said. Up to 290,000 people, including some 100,000 Kurds, were forcibly disappeared by Hussein's "genocidal campaign" in Kurdistan between 1968 and 2003, the U.N. report said.

☆ Five storylines to follow at this week's Masters
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +4 min

[1/8] Golf - The Masters - Augusta National Golf Club - Augusta, Georgia, U.S. - April 3, 2023 Scottie Scheffler of the U.S. in action on the 12th hole during a practice round REUTERS/Brian SnyderAUGUSTA, Georgia, April 3 (Reuters) - Five storylines to follow as the best players in the world descend upon Augusta National Golf Club this week for the April 6-9 Masters. SCHEFFLER SEEKS RARE REPEATWorld number one Scottie Scheffler, who arrived at Augusta National last year as the hottest player on the planet, returns in top form and looking to become only the fourth player to successfully defend a Masters title. No player has won the Masters in consecutive years since Tiger Woods accomplished the feat in 2001-02 and prior to that only Nick Faldo (1989-90) and Jack Nicklaus (1965-66) have pulled off the Augusta double. Among those competing will be a prominent group of LIV Golf players that, in addition to British Open winner Cameron Smith, include former Masters champions Phil Mickelson, Dustin Johnson, Sergio Garcia, Patrick Reed, Bubba Watson and Charl Schwartzel. The hole has played to an historical scoring average of 4.77 that makes it the easiest hole at Augusta National.

☆ This award-winning chef has a philosophy that can be applied to any career
▼ + stars: | 2023-03-31 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +4 min

Chef Shinobu Namae was awarded the "Icon" award for his contributions to the food world at the Asia's 50 Best Restaurants 2023. The 50-year-old chef tells CNBC Make It about his culinary philosophy and what motivates him to keep learning. Shinobu Namae Chef, L'Effervescence"That is the starting point for my job as a chef: If we do not care about ingredients, we don't cook well. If we don't care about our staff, we don't have a strong team and we will be in trouble," Namae said. "If we don't care about the customer — when a chef just cooks what he likes or she likes … the business won't be successful."

☆ UAE leader breaks with tradition, appoints son as crown prince
▼ + stars: | 2023-03-30 | by ( Natasha Turak | ) www.cnbc.com time to read: +4 min

Sheikh Khaled bin Mohammed bin Zayed Al Nahyan, the UAE leader's eldest son, is now the oil-rich Middle Eastern country's crown prince, effectively next in line for its leadership. Sheikh Tahnoon was already named chair of the $790 billion Abu Dhabi Investment Authority, the emirate's main sovereign wealth fund, earlier in March. Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of the Emirate of Abu Dhabi. He described the decision as "formalizing the leverage Abu Dhabi has over Dubai, and how little Dubai will be allowed to say in foreign policy." Prime Minister and Vice-President of the United Arab Emirates and ruler of Dubai Sheikh Mohammed bin Rashid al-Maktoum attends the Global Women's Forum in Dubai, United Arab Emirates, February 16, 2020.

☆ UAE's ruler breaks with tradition and appoints his son as crown prince
▼ + stars: | 2023-03-30 | 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 EmailUAE's ruler breaks with tradition and appoints his son as crown princeUAE President Sheikh Mohammed bin Zayed al-Nahyan passed over his brothers, promoting them to senior roles and effectively pushed them out of the succession. CNBC's Hadley Gamble reports.

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