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New Straits Times
15 hours ago
- Business
- New Straits Times
MARKET PULSE AM AUG 11, 2025 [WATCH]
KUALA LUMPUR: News on the latest moves on the stock and crypto markets. Bursa Malaysia opened higher today, supported by Wall Street's rally last Friday, fuelled by a jump in Apple shares after the tech giant unveiled new US investment plans. The index is expected to move within the 1,550 to 1,560 range. Meanwhile, cryptocurrencies surged on news that US President Donald Trump may allow pension funds to invest in "alternative assets," potentially unlocking vast new capital for crypto. Bitcoin jumped to RM501,154, while Ethereum and Solana climbed to RM17,997 and RM765, respectively. That's it for Market Pulse.
IOL News
24-07-2025
- IOL News
One child dies in scholar transport accident in KZN
Following a tragic accident involving a scholar transport vehicle in Ndwedwe, KZN Transport MEC Siboniso Duma has launched an investigation into allegations of drunk driving, resulting in the death of a learner and injuries to several others. KwaZulu-Natal MEC for Transport and Human Settlements, Siboniso Duma, has launched an investigation following a tragic scholar transport accident that resulted in the death of a learner and left several others injured in Ndwedwe. It is alleged that the driver of the scholar transport vehicle was drunk at the time of the accient. Duma said he had received WhatsApp messages and a video from concerned community members on Tuesday night, alerting him about the driver, who according to the community appeared to be visibly intoxicated. 'Last night, I received WhatsApp messages from community members in Ndwedwe who informed me about a drunk driver of a scholar transport. I also received a disturbing video of the drunk driver and other photos,' he said. The MEC said he had 'immediately assigned a team to urgently visit the scene of a horrific accident caused by the same driver,' and also sent them to Montobella District Hospital to monitor the condition of the injured learners. According to the report he received on Wednesday, one learner had died after the minibus taxi rolled down an embankment. 'Six other learners were treated and discharged, while four were admitted with severe head and body injuries. The extent of the injuries suggests extensive medical treatment and rehabilitation,' he said. Duma said the department would take 'drastic action not only against the driver but also against the owner of this service provider'. He added that the Road Traffic Inspectorate and other law enforcement agencies had been mandated to conduct spot checks on scholar transport vehicles throughout the province. Parents and learners have been urged to report negligent drivers and those suspected of driving under the influence of alcohol or drugs to the department's toll-free number 0800 055 505 or WhatsApp line 060 105 5505. Duma also referred to a report presented to the Transport Portfolio Committee on Tuesday, which showed that the department was currently transporting 77,369 learners from 434 schools. 'The department is administering the learner transport services programme on behalf of the Department of Education with a budget of R341,154 million this financial year,' he said. However, Duma acknowledged the existing gap in service provision, revealing that 'the programme still has a backlog of 1 571 schools on the waiting list, as well as 234 907 learners requiring the service. We need more than R2 billion for this purpose.' THE MERCURY
Trade Arabia
08-04-2025
- Business
- Trade Arabia
Unique Properties closes landmark plot sale on Jumeirah Bay
Unique Properties, a major player in Dubai's ultra-luxury real estate market, said it has successfully closed yet another record-breaking transaction - a landmark AED182 million ($50 million) residential land sale on Jumeirah Bay Island. The prime land plot, spanning 25,441 sq ft, was sold at AED7,154 per sq ft, with the deal expertly facilitated by Vanessa Sevsky, adding to Unique Properties' extensive portfolio of high-profile transactions. Jumeirah Bay Island, also known as Billionaire Island, is an exclusive residential community off the coast of Jumeirah. Located near the prestigious Jumeirah neighbourhood, it features a curated collection of luxury waterfront properties. Developed by Meraas Holding, the island is connected to the mainland by a 300-m bridge and features some of the city's most sought-after plots. Spanning 6.3 million sq ft in the shape of a seahorse, the island is home to a mix of low-rise residences, luxury villas, a boutique resort, a world-class marina, and the prestigious five-star Bvlgari Hotel. The buyer, an ultra-high-net-worth individual, plans to build a custom home on the prestigious island. This sale is a testament to the firm's ability to navigate Dubai's cut-throat real estate market and secure premium opportunities for discerning investors. This achievement highlights Unique Properties' unwavering expertise and proven track record in securing premium assets for high-net-worth clients. On the transaction, Founder and CEO Arash Jalili said: "Securing a plot on Jumeirah Bay Island is a significant achievement, given its status as one of Dubai's most exclusive real estate locations. This deal was the result of months of strategic negotiations and planning to pinpoint the ideal opportunity." "In the end, we successfully acquired an outstanding plot for our client. This sale highlights our steadfast dedication to providing top-tier investment opportunities in Dubai's ever-evolving real estate market," he added. The buyer of the plot, he stated, was planning to develop a private residence, reflecting a growing trend among UHNWIs to build custom homes tailored to their preferences.
Khaleej Times
03-04-2025
- Business
- Khaleej Times
Prime residential plot in Dubai sells for record Dh182 million
In another landmark deal in Dubai's booming real estate market, a residential plot of land has been sold for Dh182 million (approximately $50 million) on the Jumeirah Bay Island. The prime land plot, spanning 25,441 square feet, was sold at Dh7,154 per square foot. The buyer, an ultra-high-net-worth individual, plans to build a custom home on the prestigious island. Unique Properties, a dominant force in Dubai's ultra-luxury real estate market, closed the transaction. The deal was facilitated by Vanessa Sevsky. Arash Jalili, Founder and CEO of Unique Properties said: 'Securing a plot on Jumeirah Bay Island is a significant achievement, given its status as one of Dubai's most exclusive real estate locations. This deal was the result of months of strategic negotiations and planning to pinpoint the ideal opportunity. In the end, we successfully acquired an outstanding plot for our client. This sale highlights our steadfast dedication to providing top-tier investment opportunities in Dubai's ever-evolving real estate market.' Jumeirah Bay Island, also known as Billionaire Island, is an exclusive residential community off the coast of Jumeirah. Located near the prestigious Jumeirah neighbourhood, it features a curated collection of luxury waterfront properties. Developed by Meraas Holding, the island is connected to the mainland by a 300-metre bridge and features some of the city's most sought-after plots. Spanning 6.3 million square feet in the shape of a seahorse, the island is home to a mix of low-rise residences, luxury villas, a boutique resort, a world-class marina, and the prestigious five-star Bvlgari Hotel. Dubai's real estate market has experienced a significant surge in demand for ultra-luxury properties, driven by an influx of international buyers seeking stability, luxury, and long-term investment opportunities. The city's low-tax environment, world-class infrastructure, and investor-friendly policies, such as the golden visa programme, have made it a magnet for global wealth. The buyer of the Dh182 million plot plans to develop a private residence, reflecting a growing trend among ultra-high-net-worth individuals to build custom homes tailored to their preferences. This shift away from pre-built properties highlights the desire for personalisation and exclusivity in Dubai's luxury real estate market. Armin Jalili, Partner at Unique Properties, said: 'In recent years, we've witnessed a clear shift in buyer behaviour — today's ultra-high-net-worth individuals are not just investing in Dubai; they're choosing to create their dream homes here. The desire for exclusivity and personalisation has never been stronger, and Dubai continues to offer unmatched opportunities in this space.'
Express Tribune
08-02-2025
- Business
- Express Tribune
Trade war pushes gold over Rs300,000/tola
Listen to article KARACHI: Gold prices continued their upward trajectory on Friday, surpassing the historic milestone of Rs300,000 per tola in Pakistan, driven by rising international market rates. In the local market, the price increased by Rs1,346/tola, reaching Rs300,046 for the first time in history. Similarly, the price of 10-gram gold rose by Rs1,154, settling at Rs257,241, according to figures released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The surge in gold prices has been attributed to heightened safe-haven demand amid ongoing trade war concerns, especially ahead of the key US payrolls report. Commenting on the trend, Adnan Agar, Director at Interactive Commodities, stated, "Gold has reached an all-time high today and is expected to remain strong in the future." This follows Tuesday's increase of Rs1,900, which took gold to Rs294,300, after Monday's Rs200 rise had already set a record of Rs292,400. Globally, gold prices rose on Friday and were on track for a sixth consecutive week of gains as escalating trade tensions between the US and China prompted investors to seek refuge in the safe-haven asset. Spot gold gained 0.5% to $2,871.59 per ounce as of 1606 GMT, up more than 2% this week after hitting a record high of $2,886.62 earlier in the session. US gold futures rose 0.7% to $2,897.50. US President Donald Trump kick-started a trade war this week as he imposed new duties on China, though he granted Mexico and Canada a one-month reprieve. Gold is often used as a safe investment during times of political and financial uncertainty. The gold market also seems to have been buoyed by continued growth in the People's Bank of China's gold holdings and a new Chinese programme allowing insurance funds to invest in gold, said Peter Grant, Vice President and Senior Metals Strategist at Zaner Metals. A labour department report showed the US economy added 143,000 jobs in January, compared with the 170,000 expected by economists. The unemployment rate stood at 4%, compared with expectations of 4.1%. Wage growth and declining job creation are challenging the Federal Reserve's ability to adjust rates, creating a complex yet potentially advantageous situation, said Bart Melek, Head of Commodity Strategies at TD Securities. A strong economy with full employment and easing inflation should allow the Fed to cut rates, but tariff uncertainties call for caution, Chicago Fed President Austan Goolsbee said. Meanwhile, the Pakistani rupee saw a slight appreciation against the US dollar in the inter-bank market on Friday, gaining 0.04%. By market close, the currency stood at 279.05 per dollar, marking an increase of 10 paisa, according to data from the State Bank of Pakistan (SBP). The rupee had previously closed at 279.15 on Thursday.
