Public-Private collaboration is crucial to tackling physical inactivity crisis: WFSGI CEO Emma Zwiebler
Emma Zwiebler, CEO of the World Federation of the Sporting Goods Industry (WFSGI), sat down exclusively with TRENDS at the...Business
Masdar targets 100 GW of clean energy by 2030
Abu Dhabi, UAE - Fatima Al Suwaidi, Head of Development & Investment (APAC) at Masdar, has affirmed the company's ambitious...Business
DTC sets IPO offer price range
Final offer price will be fixed through a book-building processThe company announced that the offer price range had been set between US$0.49 (AED1.80) and US$0.5 (AED1.85) per share.
This implies a market capitalization at the time of listing of between US$1.2 billion (AED4.5 billion) and US$1.25 billion (AED4.6 billion).
SAMA, Central Bank of China sign $7bn currency swap agreement
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has signed a three-year currency swap agreement with the Central Bank...he agreement is part of the financial cooperation between the two central banks, which works to strengthen collaborations based on mutual interests.
Currency swaps are agreements between two parties to exchange a certain amount of one currency for another and then reverse the exchange at a later date.
US regulator files charges against Kraken crypto exchange
The action against Kraken by the financial markets regulator will likely pour cold water on the hopes of many firms...The proceedings against Kraken began on Monday in federal court in San Francisco, targeting Payward and Payward Ventures, the two legal entities behind the exchange
Kraken's business model is "rife with conflicts of interest that placed investors’ funds at risk," Director of the SEC’s Division of Enforcement, Gurbir Grewal, said in a statement
With X’s Musk under fire, Biden joins rival Threads
The White House confirmed it had launched Threads accounts for the president, First Lady Jill Biden, Vice President Kamala Harris,...Meta launched Threads in July, in a bid to depose Musk's X, as the go-to platform for celebrities
Biden's debut comes after his spokesman slammed Musk for the "promotion" of an anti-Semitic conspiracy theory
ADNOC and Santos sign agreement to build joint platform for net-zero goals
Abu Dhabi, UAE--ADNOC and Santos have signed a strategic collaboration agreement (SCA) to build a joint global-carbon-management platform that could...The agreement will allow companies to advance critical carbon capture and storage (CCS) technologies required to speed up the decarbonisation
They will look to ramp up the carbon management technologies of the future in order to safely transport, capture and store carbon, helping markets to decarbonise
UAE a key player in global financial landscape: NYSE vice-chairman
Abu Dhabi, UAE--The UAE has solidified its stature as a key player in the global financial landscape, through launching economic...He believes the UAE’s financial markets have significant potential and flexibility, combined with its continuous commitment to innovation and development
He said the UAE's commitment to developing its financial infrastructure and attracting foreign investments makes it a significant market in the MENA region
L&T energy hydrocarbon unit clinches mega deal in the Middle East
New Delhi, India - The L&T Energy Hydrocarbon (LTEH), hydrocarbon business unit of Larsen & Toubro (L&T), said on Monday...The scope of work comprises engineering, procurement, construction and installation of a new large offshore platform
In October also, LTEH secured a major contract worth over Rs 15,000 crore ($20 billion) from a Middle Eastern client
OpenAI staff threaten mass exodus to join ex-CEO Altman
In a fast-moving sequence of events, Altman, who was ousted by the board on Friday, has now been hired by...In a letter released to media, the vast majority of OpenAI's 770-strong staff suggested they would follow Altman unless the board responsible for his departure resigned
A key Artificial Intelligence executive at Microsoft confirmed that they all were welcome from OpenAI if the board that removed Altman doesn't resign
Dubai Financial Market, Nasdaq Dubai, Shanghai Stock Exchange sign MoU
Dubai, UAE--The Dubai Financial Market (DFM), Nasdaq Dubai, and Shanghai Stock Exchange (SSE) have signed a memorandum of understanding (MoU)...The MoU will enhance ties between Dubai and China's capital markets, marking a significant milestone in cross-border collaboration
The two bourses will jointly explore to develop products, introduce companies and issuers to the advantages of each market
ACWA Power starts commercial ops at phase 2 of Dubai’s Noor Energy
RIYADH, SAUDI ARABIA – ACWA Power Co said it received the initial commercial operation certificate from the Dubai Electricity & Water Authority...The second phase is part of a 950 MW solar CSP independent power project, the company said .
The financial impact from the full capacity (950 MW) is expected to show starting from the first quarter 2024.
