Dubai port operator DP World is buying a $50 million stake in US tech start-up Hyperloop One. Los Angeles-based Hyperloop One is gearing to build a futuristic transport system that will move people and goods through a vacuum tube at more than 1,000 kilometres per hour. Apart from DP World, 137 Ventures, French National Rail Company and GE Ventures have made their contributions, taking the total funding to $160 million.
TerraUSD creator Do Kwon sentenced to 15 years over $40 billion crypto collapse
Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, was sentenced on Thursday to 15 years in prison for what a judge called an "epic fraud."
BRIDGE Summit drives $200 million deal to boost UAE's media sector
A $200 million investment multi-dimensional partnership deal has been outlined at BRIDGE Summit 2025 that will position the UAE as the world’s new epicentre for compute, advanced media production and next-generation education.
ADCB successfully completes AED6.1 billion rights issue
Abu Dhabi Commercial Bank PJSC (ADCB) on Wednesday announced the successful completion of its AED6.1 billion rights issue, following the close of the subscription period on December 4.
UAE, Russia to strengthen economic ties
The United Arab Emirates and Russia have reaffirmed their commitment to deepening economic cooperation during a high-level meeting in Dubai.
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