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Morgan Stanley has initiated a $5 billion debt offering for xAI Corp., founded by Elon Musk, to support general corporate purposes. This financing package, which includes term loans and secured notes, underscores the significant capital needs for AI infrastructure development.xAI's valuation has reached $113 billion, positioning it among the highest-valued private AI companies, reflecting investor confidence in AI's growth potential despite limited current revenues. The dual financing strategy aims for rapid expansion while minimizing shareholder dilution, marking a shift towards more complex financial instruments in the AI sector.
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Budget airline flynas has confirmed the number of retail investors participating in its IPO. Manoj Nair, the Gulf News Business Editor, brings extensive experience in property, gold, and stock markets, while also having a passion for luxury brands and the evolving retail industry. Outside of financial journalism, he enjoys classic Bollywood films from the 1950s to 1980s.
Chime Financial, a San Francisco-based digital bank, plans to go public with an IPO targeting a valuation of up to $9.47 billion by offering 32 million shares priced between $24 and $26. Despite a significant markdown from its peak private valuation of $25 billion in 2021, the company has seen steady user growth, now boasting 8.6 million active members, indicating a strong shift towards mobile-first financial services. The IPO comes amid a recovering market, with investors increasingly favoring companies demonstrating sustainable business models.
The Amundi MSCI Eastern Europe Ex Russia UCITS ETF has risen 17.64% over the past year, underperforming the average fund's 20.74% return. In January 2025, top-performing ETFs included the L&G Gold Mining UCITS ETF, which returned 20.18%, and the UBS (Irl) ETF PLC - Solactive Global Pure Gold Miners UCITS ETF, with a 16.55% return.
Shoppers in the UAE are facing a sudden increase in gold prices, with a Dh7 rise occurring just as Eid Al Adha promotions begin, lasting until June 9. Manoj Nair, Gulf News Business Editor, closely monitors trends in luxury brands and the retail industry, drawing on his extensive experience in financial journalism. Outside of work, he enjoys classic Bollywood films from the 1950s to 1980s.
China has accused the US of violating a trade agreement and plans to take action to protect its interests, criticizing new US restrictions on AI chip exports and student visas. The ongoing trade tensions reflect a historical pattern of temporary deals followed by renewed conflicts, highlighting deeper structural issues in US-China relations. This multifaceted rivalry now extends beyond trade to encompass technology and geopolitical concerns, particularly regarding Taiwan.
NatWest Group has returned to full private ownership, a significant milestone described by the Chairman as an ‘inflexion point’ for both the bank and the broader economy. This transition marks a pivotal moment in the financial landscape, reflecting a shift towards stability and growth.
Japan’s Nikkei share average fell 1.3% to 37,470.67 amid concerns over escalating U.S.-China trade tensions and a stronger yen, which negatively impacted automakers. The yen rose 0.6% against the dollar, further pressuring exporter stocks, while the auto sector and chip-related shares saw significant declines. T&D Holdings, however, gained 4% following news of an activist investor acquiring a stake in the company.
UAE has introduced new licensing requirements for financial influencers on platforms like YouTube and TikTok, urging them to register proactively. Manoj Nair, Gulf News Business Editor with 30 years of experience, focuses on property, gold, and stock markets while also following retail industry trends. Outside of journalism, he enjoys classic Bollywood films from the 1950s to 1980s.
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