Chevron $53bn Hess deal in danger
Rivals' challenge to the control of a key oil asset can derail the acquisition.Company News Business
UAE, Georgia sign Comprehensive Economic Partnership Agreement
The UAE and Georgia signed a joint statement confirming the successful conclusion of negotiations towards the UAE-Georgia Comprehensive Economic Partnership...Comprehensive Economic Partnership Agreement (CEPA) signing took place in Georgia’s capital Tblisi during a UAE delegation's visit to the country.
The free trade agreement or CEPA will lay the foundation for deeper, stronger and more integrated economic relations between the UAE and Georgia.
Abu Dhabi to host world’s largest autonomous racing league from 2024
Abu Dhabi, UAE -- The United Arab Emirates capital, Abu Dhabi, will host the world's largest autonomous racing league, with...The first autonomous car race will take place at Yas Marina Circuit in the last quarter of 2024 as the first in a series of autonomous vehicle races.
The league will feature the Dallara-built Super Formula cars, the usage of which has been enabled by Japan Racing Promotion (JRP).
Presight IPO oversubscribed
The G24 data analytics firm received $496 million in its offering.Presight offered 1.35 billion shares, equivalent to 24.24% of its paid-up capital.
The company is expected to begin trading on the Abu Dhabi Exchange on Mar 27, 2023.
Dubai records weeklong real estate transactions worth $2.72 billion
Dubai, UAE -- A total of 3,903 real estate transactions worth AED 10 billion ($2.72 billion) were conducted during the...A total of 208 plots were sold for AED 1.12 billion, while 2,906 apartment and villa sales totaled AED 6.25 billion.
The top three transactions were three lands in Al Jadaf sold for AED 38.5 million, AED 38.5 million, and AED 37 million respectively.
OECD raises global growth forecast as inflation eases, recovery ‘fragile’
The OECD raised its global economic growth forecast as inflation eases and China emerges from Covid restrictions, but warned of...Organization for Economic Co-operation and Development says rate increases are still needed to fight inflation.
OECD cited uncertainty over the course of the war in Ukraine, the risk of renewed pressure on energy markets.
NBF approves dividend for 2022
The profit of 6% of paid-up capital will be paid as bonus shares.The bank’s shareholders also approved the Chairman’s and Directors’ Reports, and the Internal Shari’ah Supervision Committee Report for NBF Islamic.
The shareholders confirmed the appointment and remuneration of the bank’s external auditors, PricewaterhouseCoopers (PwC) for 2023.
Crypto-linked bank failures fuel regulation debate
Global finance was rocked by the collapse of Silicon Valley Bank last week, and the digital currency sector was hit...The global crypto market stands at more than $1 trillion and has risen sharply in recent months, although it remains far below its 2021 peak of $3 trillion
Illicit transactions using cryptocurrencies more than doubled last year to almost $21 billion, according to specialist crypto firm Chainalysis
Microsoft adds ChatGPT technology to Excel, Outlook
The Redmond, Washington giant has been swiftly adopting language-based AI, showing less caution than its rivals despite early problems such...Microsoft’s latest chatbot, called Copilot, will put ChatGPT-like abilities to work in offices, churning out meeting transcripts, calendar entries or PowerPoint slides instantly
Microsoft is pouring billions of dollars into OpenAI, the company that is building the technology that powers ChatGPT and that released its latest version, GPT-4, on Tuesday
Qatari delegation visits Man Utd as bidding war for Premier League club intensifies
The rival bidders, Qatari businessman Sheikh Jassim Bin Hamad Al Thani and British billionaire Jim Ratcliffe were invited to visit...Qatari businessman Sheikh Jassim Bin Hamad Al Thani and British billionaire Jim Ratcliffe, founder of the INEOS chemicals company, have made separate offers to buy United
There will be another day of presentations and tours at United on Friday, with boyhood United fan Ratcliffe who will be joined by INEOS co-owners Andy Currie and John Reece
Conflict may get us before climate, warns Professor Rangan
A multi-plural world that embraces diversity and contradictions is crucial for peaceful coexistence free of conflicts, Prof Subramanian Rangan of...A multi-plural world that embraces diversity and contradictions is crucial for peaceful coexistence free of conflicts, Subramanian Rangan of INSEAD tells TRENDS in an interview
Businesses need to revise their models to integrate income and impact, market and society, and humanity and nature. Also, education is key in using technology responsibly, he adds
