Vegetable oil pushes global food prices to seven-month high in Nov

• Global palm oil prices climbed further amid concerns about lower-than-expected output due to excessive rainfall in Southeast Asia.
• The Sugar Price Index decreased 2.4 percent, influenced by harvest activities in India and Thailand and improved sugarcane crop prospects in Brazil following recent rains.

Abu Dhabi’s Hub71 startups secure $1.90 billion in funding, says CEO

• The ecosystem is now hosts over 300 startups from around the world and has forged 150 partnerships to support these companies in attracting investments.
• Ahmad Ali Alwan, CEO of Hub71, said it has received over 2,500 applications for its programmes.

ADNOC signs deal with PETRONAS

• The LNG will primarily be sourced from the Ruwais LNG project, which is currently under development in Al Ruwais Industrial City, Abu Dhabi.
• Deliveries are expected to start in 2028 upon commencement of its commercial operations.

Bitcoin passes $100,000 mark for first time, outshining wavering stock markets

• The digital asset has now soared more than 50 percent since the election of Donald Trump, who has vowed to make the US the "bitcoin and cryptocurrency capital of the world."
• The historic level was broken after Trump picked crypto proponent Paul Atkins to take over as chair of the Securities and Exchange Commission, the markets regulator.

OECD warns of protectionism weeks before Trump return

• Trump has threatened blanket tariffs of at least 10% on all imports and since his election has vowed to slap 25% import tariffs against Canada and Mexico, the US trade partners.
• "Increases in trade-restrictive measures could raise costs and prices, deter investment, weaken innovation and ultimately lower growth," the OECD warned in its economic outlook.

France, Saudi Arabia to co-chair June meet on creating Palestinian state: Macron

• Macron said that France and Saudi Arabia have the "will to move forward" on a deal to sell Rafale fighter jets to the Kingdom.
• Discussions had already been underway for Riyadh to acquire the French-made jets and, though no definitive announcement was expected during Macron's visit.

Tech firms aiming for smaller, leaner AI models

Macron attends PIF-hosted Riyadh One Planet Sovereign Wealth Funds meet

• Discussions at the summit focused on the pivotal role of sovereign wealth funds as global investors in addressing climate challenges among others.
• Key action tracks were identified to enhance investment decision-making for climate action, boost efficiency and impact within the global financial system.

Developing countries paid $1.4 trillion to service their debts in 2024

• The World Bank report noted that high interest rates have been a key driver of the rising cost of servicing foreign debt.
• Rates charged by private creditors were even worse, rising to a 15-year high of six percent -- an increase of more than one percentage point.

How Eco-Conscious Practices Are Shaping the Future of Luxury Spas?

• The region boasts a unique combination of cutting-edge technologies and world-class spa facilities.
• Today’s consumers are looking for more than lavish amenities; they want brands that stand for something and align with their values.