PIF-backed SURJ launches venue venture radia with Live Nation, OVG
Dubai, UAE -- SURJ Sports Investment Co, owned by Saudi Arabia's Public Investment Fund (PIF), has launched a joint venture...
Business
Youth account for over 30 percent of EWEC workforce, utility says
Dubai, UAE -- Abu Dhabi's Emirates Water and Electricity Company (EWEC) said young professionals now make up more than 30...
Business
Geostrategy
WTO pushes for reform, warns multilateralism ‘under attack’
Speaking on the first day of MC13, WTO Director-General Ngozi Okonjo-Iweala highlighted a need to "reform the multilateral trading system"...
- The WTO is hoping for progress, particularly on fishing, agriculture and electronic commerce during the meeting scheduled to run until Thursday in Abu Dhabi.
- But big deals are unlikely as the body's rules require full consensus among all 164 member states -- a tall order in the current climate.
Business
China discovers world’s largest metamorphic rock oilfield in Bohai Sea
BEIJING, CHINA – The China National Offshore Oil Corporation (CNOOC) has announced the recent discovery of the largest metamorphic rock...
- The Bohai 26-6 oilfield is situated approximately 170 kilometers from Tianjin Municipality.
- It has been anticipated that the average daily oil production will surpass 390 cubic meters.
Business
Goldman Sachs, Mubadala ink pact
The two firms have signed a $1 billion private credit deal.
- The partnership will be managed by Private Credit at Goldman Sachs Alternatives, with a dedicated team across multiple Asia Pacific markets.
- This mandate will enable both firms to continue scaling their investment activity in the large and growing Asia Pacific credit market.
Business
Disney and India’s Reliance to merge
The merger will create a powerful entertainment giant.
- The report of the deal comes as billionaire tycoon Mukesh Ambani readies to host Disney chief Robert Iger on March 1 for his son's wedding
- The deal is expected to see the media unit of Reliance and its affiliates hold at least a 61% stake in the merged entity, with Disney holding the rest
Business
Alcoa to buy Alumina in all-stock deal
The US aluminum producer will buy Alumina for US$2.2bn.
- Alcoa will offer 0.02854 of its own stock for each Alumina share, a 13 percent premium to the Australian group's Friday closing price
- Alumina shareholders would own 31.25 percent and Alcoa shareholders would own 68.75 percent of the combined company
Business
Commercial vehicle sales in China soar 79.6% in January
Beijing, China--China's commercial vehicle sales soared 79.6 percent year on year to 324,000 units in January, according to industry data....
- According to the China Association of Automobile Manufacturers, some 289,000 trucks were sold during this period, a rise of 81.8 percent
- Xinhua News Agency said nearly 35,000 coaches were sold last month, an increase of 63.4 percent compared with the same period of 2023
Business
Tech revolutionizes professional landscape for women
Women First Jobs offers tailored solutions for women in the UAE, overcoming societal norms and unequal access to opportunities, says...
- Women First Jobs offers tailored solutions for women in the UAE, overcoming societal norms and unequal access to opportunities, says its CEO Priyanka Sengar.
- The portal is committed to breaking down barriers to women's professional success, including pay disparity and limited leadership representation, she adds.
Business
Hyperloop progress: Racing ahead or falling behind?
Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023...
- Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023 despite significant investments.
- Despite significant investment, Virgin Hyperloop shut down in 2023, as technical challenges, safety concerns, and high costs continue to hinder hyperloop implementation.
Business
Hyperloop progress: Racing ahead or falling behind?
Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023...
- Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023 despite significant investments.
- Despite significant investment, Virgin Hyperloop shut down in 2023, as technical challenges, safety concerns, and high costs continue to hinder hyperloop implementation.
Geostrategy
WTO launches US$50m fund for women entrepreneurs in developing countries
ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund...
- The director general of WTO said the "ground-breaking initiative... embodies our collective commitment to empower women".
- The fund will help businesses run by women in developing countries to adopt digital technologies and increase their online presence.
PIF-backed SURJ launches venue venture radia with Live Nation, OVG
Dubai, UAE -- SURJ Sports Investment Co, owned by Saudi Arabia's Public Investment Fund (PIF), has launched a joint venture...
Business
Company News
Latest News
Europe hyperloop test hits new speed record in Dutch trial
The Hague, Netherlands -- A Dutch tech startup said Wednesday it had set a European speed record for its futuristic...
Geostrategy
Stocks climb eyeing US rate cut, political turbulence
A steep downward revision to US job creation cemented expectations that the Federal Reserve would begin lowering its benchmark rate...
Business
Mistral cements AI lead in Europe with cash infusion
Paris, France -- France's Mistral on Tuesday cemented its position as Europe's top AI hope against far larger US and...
Business
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Business
ADCB to raise $1.66bn
The rights issue aimed at boosting growth.
- The rights issue will increase ADCB's issued capital from AED 7.32 billion to AED 7.91 billion by issuing up to 592.2 million new shares.
- The new shares will be priced at AED 10.3 each, a 30% discount to ADCB’s closing share price on September 4, 2025.
Business
EGA H1 revenue $4.11bn
Net profit before GAC $445 million.
- The company's primary hot metal production remained steady at 1.34 million tons.
- EGA sold 1.37 million tons of cast metal to over 400 customers in more than 50 countries, up from 1.31 million tons in H1 2024.
Business
Tesla proposes package for Musk that could top $1 trillion
New York, United States -- Tesla unveiled on Friday a proposed compensation package for Elon Musk that could top $1...
- The plan potentially provides Musk -- already the world's wealthiest person -- with up to 12 percent of additional total company shares.
- Tesla's current market capitalization is just over $1 trillion, down somewhat from its peak following recent weak earnings.