Forbes Middle East

Fenway Sports Group has agreed to sell a minority stake in Liverpool FC to a consortium led by investor Amit Bhatia and backed by Amazon founder Jeff Bezos, Facebook co-founder Eduardo Saverin and the Mittal family, according to a statement released Friday.Liverpool ownership FSG will retain majority ownership and operational control as the club pursues long-term growth.The cons...

Reliance Industries—controlled by Indian billionaire Mukesh Ambani—will partner with UK-based Rolls-Royce Holdings to develop fighter jet engines in India as the country’s largest conglomerate expands into military aviation.The duo said Friday that they will jointly design, develop and manufacture an indigenous combat engine for India’s Advanced Medium Combat Aircraft (AMCA) pro...

Reddit will join the S&P 500 next week, replacing a real estate investment trust on the index in a move that would force index-tracking funds managing trillions of dollars to buy shares in the social media platform, spurring automatic demand for the stock that has plunged so far this year.Key factsReddit, trading under the “RDDT” ticker, will be added to the S&P 500 befo...

The AI buildout could require so much borrowing that Wall Street’s bond market may not be able to finance it, creating a roughly $1 trillion gap that could be filled by private credit, Apollo’s chief economist said Friday.Key factsTorsten Slok, Apollo’s chief economist, wrote Friday that AI-related borrowing accounts for more than 40% of new long-term, investment-grade corporate...

Iraq’s oil exports have averaged 2 million barrels per day (bpd) since the start of August, boosted by new infrastructure and expanding export routes, state-run Iraqi News Agency reported Friday.New export routes plannedThe update follows the opening of a 130 million standard cubic feet per day gas processing plant at the Al-Faihaa oil field.Oil Minister Bassem Mohammed Khudair ...