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Disney announces new theme park in Abu Dhabi
The Walt Disney Company on Wednesday unveiled plans for a new theme park in the United Arab Emirates, underscoring the country's emergence as a financial and entertainment global hub. Disney's announcement came ahead of US President Donald Trump's visit to Saudi Arabia, Qatar and the United Arab Emirates next week.
New German finance minister says 'no time to lose'
Germany's new Finance Minister Lars Klingbeil said Wednesday there was "no time to lose" to jump-start Europe's beleaguered top economy, even as hardline US trade policies complicate his task. Klingbeil also said that he would speak with European finance ministers Wednesday and that a key challenge would be finding ways of boosting investment using EU institutions.
Weight-loss drugmaker Novo Nordisk slims sales forecast
Danish drugmaker Novo Nordisk, known for its blockbuster diabetes and weight-loss treatments Ozempic and Wegovy, cut its annual sales forecast on Wednesday, citing a decline in its US market share. Novo Nordisk's shares tumbled last month after Eli Lilly announced a successful clinical trial of diabetes and obesity treatment orforglipron.
Danish firm Orsted halts huge UK offshore wind farm project
Danish renewables firm Orsted said Wednesday it was shelving plans to build a massive wind farm off the UK coast due to rising costs, dealing a setback to Britain's clean energy goals. But Orsted said in a statement that the project "has seen several adverse developments", including rising supply chain costs, higher interest rates and an increased risk in building it on the planned timeline.
Distillery layoffs send shudders across remote Scottish island
When Scotland's windswept Isle of Harris welcomed its first commercial distillery a decade ago, it was about more than just whisky. He is from the nearby Isle of Scalpay, and remembers when there was "a thriving community" in this area decades ago with a prosperous port.
BMW upbeat on riding out US tariff chaos
German premium carmaker BMW said Wednesday that it expected to largely ride out the impact of US tariffs over the coming year, and that it hoped to soften their impact. In a statement, BMW said it expects "some of the tariff increases to be temporary, with reductions from July 2025."
Asian stocks rise as China-US trade talks boost optimism
Asian equities rose Wednesday after China and the United States said they would hold trade talks at the weekend, fanning optimism that the superpowers can row back eye-watering tariffs that have heightened recession fears.
Hit by Trump cuts, journalists at Dubai-based US channel face uncertain future
Sara, a Dubai-based journalist, joined the US-funded Alhurra TV news channel hoping for job security. Another Alhurra journalist in Dubai, who also did not want to be named, said he was facing an "uncertain professional future" after eight years at the channel.
Taiwan bicycle makers in limbo as US tariff threat looms
Weeks after Donald Trump's global tariff bombshell, Jeff Chen's factory in Taiwan is as busy as ever turning out carbon and alloy wheels for high-end bicycles bound for US and European markets. Taiwan bicycle industry expert Michelle Hsieh said the island's success in targeting the high-end market was down to "hidden champions" in the supply chain.
AFP
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