City Abu Dhabi Financial News
23.01 / 22:59
CEO
Strategy
Align
Research
wellness
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International
UAE President Sheikh Mohamed bin Zayed Forms AI Council to Shape Future Technologies
In another pro-tech initiative, the United Arab Emirates (UAE) President Sheikh Mohamed bin Zayed Al Nahyan has announced the creation of an Artificial Intelligence and Advanced Technology Council (AIATC).
23.01 / 01:43
wellness
testing
Updates
International
Visa issues: England cricketer of Pakistan origin still stuck in UAE; Test starts on January 25
cricket operations, is staying with Bashir. The ECB, under coach Brendon McCullum's guidance, is urgently liaising with Indian authorities for a solution. They are hopeful; updates may come soon.
21.01 / 15:45
Election
hospital
reports
PM Modi changes political agenda before every Lok Sabha elections: Shashi Tharoor ahead of Ayodhya Ram Temple opening
PM Modi fought the 2014 general elections on the issue of development, but was forced to change the issue to ‘national security’ in 2019 as people faced a lot of trouble during demonetisation. As the central government failed to protect India from China, PM Modi is again shifting the political agenda before the 2024 Lok Sabha elections. "So this time round, the only thing they have is their original cause -- Hindu Hriday Samrat.
21.01 / 14:27
security
Election
hospital
reports
patient
PM Modi shifts political agenda every poll year; failed to protect borders from China: Shashi Tharoor
Congress Working Committee member and MP Shashi Tharoor on Sunday accused Prime Minister Narendra Modi of shifting the political agenda every election year and alleged that the BJP-government at the Centre was unable to protect the nation's borders from Chinese encroachment. The hard hitting accusations from the MP from Thiruvananthapuram came on the eve of the Ram Temple consecration ceremony at Ayodhya on Monday. Tharoor said that Modi contested and won in the 2014 Lok Sabha polls in the name of development and in 2019 in the name of national security by ordering surgical strikes on Pakistan.
21.01 / 08:59
BLOCK
Research
Trade
country
electronic
reports
gatherings
Low
Chances to reach consensus on WTO dispute settlement body reforms 'low' in next meet: GTRI
consensus next month on reforming the dispute settlement system of the global trade body as there are wide differences over the issue between developed and developing countries, a GTRI report said on Sunday. The trade minister of the 164-member World Trade Organisation (WTO) will gather in Abu Dhabi in February for the 13th ministerial conference (MC) to resolve different issues such as reforms in dispute settlement mechanisms, agriculture-related matters and a moratorium on customs duties on e-commerce trade.
19.01 / 17:59
Citi
pandemic
Universities
information
2020
Schools
Destinations
Brookfield weighs investment in Dubai’s GEMS Education
Brookfield Asset Management Ltd. is in talks to invest in Dubai-based GEMS Education, one of the world’s largest private school operators, people familiar with the matter said.
19.01 / 01:21
Provident
security
Food
Trade
poverty
country
information
No farm issues until food stocks issue is resolved: India before WTO talks
NEW DELHI : India will not negotiate on any farm issue at the World Trade Organization (WTO) until the body finds a permanent solution to the issue of public stocks of foodgrains, a government official said, signalling a hardening of position ahead of the world body’s next ministerial meeting. India wants the matter settled as it prepares for the WTO’s 13th ministerial meeting in Abu Dhabi from 26-29 February. The ‘ministerial’ is the highest decision-making forum at the 164-member rule-setting body.
16.01 / 13:25
markets
Provident
ETF
Trade
Arthur Hayes
Bitcoin
Spot ETFs
Spot Bitcoin ETFs Present New Trading Opportunities Amid Global Price Swings: Arthur Hayes
Former BitMEX CEO Arthur Hayes believes the emergence of spot Bitcoin (BTC) exchange-traded funds (ETFs) would be a game-changer for traders worldwide.
09.01 / 22:01
Booking
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Trade
President
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country
social
bin
PM Modi holds roadshow with UAE Prez Mohamed bin Zayed Al Nahyan in Ahmedabad
Narendra Modi held a 3 km-long roadshow from Sardar Vallabhbhai Patel Airport to Gandhinagar, along with UAE president Mohamed bin Zayed Al Nahyan, on Tuesday. Nahyan is in Ahmedabad to attend the tenth edition of Vibrant Gujarat Global Business Summit, which will start on Wednesday.
06.01 / 11:58
COST
UPS
Citi
Aviat
Hallmark
travelers
International
AAI-Delhi airport feud risks stalling India growth story with air train impasse
The Airports Authority of India (AAI) and Delhi International Airport Ltd (DIAL), the operator of the Indira Gandhi International Airport in the national capital, are locked in a tussle over the development of a proposed air train. This train is designed to connect the airport’s three terminals, its cargo hub, and Aerocity, a zone hosting numerous hotels and office complexes. Two key issues dominate the debate: the project's financing and the number of stops the air train should have.
04.01 / 18:38
Target
ByteDance
NVIDIA
SpaceX
wellness
innovations
Relationships
valuation
OpenAI in Advanced Funding Discussions Targeting Over $100 Billion Valuation
The innovative company OpenAI, which is responsible for the well known ChatGPT, is now in the preliminary phases of a potential game-changing fundraising round. Recent sources indicate that the corporation is now engaged in conversations to seek fresh money with a value of at least $100 billion. This represents a huge increase from the company's previous valuation of $90 billion which was disclosed. This monumental financial move, if successful, could elevate OpenAI to become the second-most valuable startup in the United States, trailing only behind Elon Musk's SpaceX, which is valued at $180 billion. Additionally, it would position OpenAI as the third most valuable privately-held company worldwide, behind ByteDance and SpaceX.
02.01 / 03:50
FIVE
Digital
Manufacturing
President
country
Inside
innovations
Welcome to the era of AI nationalism
The hottest technology of 2023 had a busy last few weeks of the year. On November 28th Abu Dhabi launched a new state-backed artificial-intelligence firm, AI71, that will commercialise its leading “large language model" (LLM), Falcon. On December 11th Mistral, a seven-month-old French model-builder, announced a blockbuster $400m funding round, which insiders say will value the firm at over $2bn.
31.12 / 06:56
Cooper
Strategy
stage
information
reports
India, UAE set stage for joint military exercise ‘Desert Cyclone’ in Rajasthan
India and the UAE is scheduled to take place in Rajasthan from January 2 to January 15. As reported by ANI, the joint manoeuvres during 'Desert Cyclone 2024' aim to boost interoperability through the exchange of knowledge and best practices in urban operations.
27.12 / 10:09
country
Adani Energy forms JV with Abu Dhabi's IHC-backed firm for smart-meter business
Adani Energy Solutions has partnered with a business backed by Abu Dhabi's International Holding Company (IHC) in order to expand its smart meter business in India and around the world, the company announced in a statement on Wednesday. The UAE-based Esyasoft Holdings, which is primarily controlled by IHC, a current investor in Adani group firms, was acquired by a subsidiary of the Indian power distribution company, according to the announcement. Adani Energy has received contracts to install 20 million smart meters from several electricity distribution companies in India; the company did not disclose the amount of investment. Adani Energy stated in a statement that it hoped to use Esyasoft's network in more than 10 countries to develop globally through the joint venture and to bolster its local smart meter business. In an effort to increase the operational effectiveness and long-term financial viability of power distribution businesses, the Indian government has been pressuring the installation of smart metres and introduced the Revamped Distribution Sector Scheme last year. Smart meters give consumers access to real-time data on energy usage, enabling them to make educated decisions about their usage. According to a statement by Adani Energy, the Indian government intends to build 250 million meters nationwide by 2025; of those, tenders for 80 million meters have not yet been released, suggesting room for expansion.
26.12 / 01:59
Citi
Citizens
Aviat
Airlines
President
country
travelers
India seeks four for each extra seat allowed to Dubai airlines
India has sought four seats for its carriers against every extra seat it allows Dubai-based airlines to operate to the country, according to people with knowledge of the matter. The demand is said to be unprecedented as international aviation trade is typically a bilateral process, based on the reciprocal exchange of rights by states. Under the bilateral air service agreement inked between the United Arab Emirates (UAE) and India in January 2014, airlines of both nations are allowed to operate a total of 66,000 seats per week between Dubai and 15 Indian cities.
25.12 / 10:00
Target
Strategy
economy
country
information
reports
shock
First rupee payment for oil to UAE: India looks for more deals, no targets: Officials
crude oil purchased from the UAE is helping the world's third largest energy consumer push for taking the local currency global, as it looks for similar deals with other suppliers, officials said, adding internationalisation is a process and there are no targets. With the nation more than 85 per cent dependent on imports for meeting its oil needs, India has been pursuing a three-pronged strategy of buying from the cheapest available source, diversifying sources of supply and not breaching any international obligation like the price cap in case of Russian oil. While the strategy helped save billions of dollars, when it ramped up imports of Russian oil that was shunned by some in West post Ukraine war, it is looking to settle trade in rupees instead of dollars in a bid to cut transaction costs by eliminating dollar conversions. India in July signed an agreement with the UAE for rupee settlement and soon after Indian Oil Corporation (IOC) made payments for purchase of a million barrels of crude oil from Abu Dhabi National Oil Company (ADNOC) in Indian rupees. Some of the Russian oil imports too have been settled in rupee. Officials said the default payment currency for import of crude oil has been the US dollar for several decades and the currency traditionally has liquidity as well as lower hedging cost. But to boost the rupee's role in cross-border payments, the Reserve Bank of India allowed more than a dozen banks to settle trades in rupees with 18 countries since last year. Since then, India has been encouraging big oil exporters such as the UAE and Saudi Arabia to accept the Indian currency for trade settlements, officials said, adding the first success happened in August this year when IOC made the rupee
24.12 / 11:36
coinbase
Coinbase secures crypto license in France amid broader global push
Coinbase Global secured registration with the French markets regulator on Thursday, as it seeks to expand globally under its Go Deep, Go Broad strategy. France's AMF watchdog has given Coinbase virtual asset service provider (VASP) approval, a green light for the company to operate digital currency services. Registration will allow Coinbase to offer its full suite of retail, institutional and ecosystem products and services to users in the country. «Achieving VASP status in France allows us to continue to grow globally in the best possible way, onboarding the next one billion people into crypto, while ensuring consumers' assets are secure and that compliance is prioritized,» said Daniel Seifert, vice president and regional managing director, EMEA, at Coinbase. Coinbase had also said earlier this year it was in discussions with the Financial Services Regulatory Authority in the Abu Dhabi Global Market over a potential license for a regulated exchange.
24.12 / 08:07
Twitter
Binance
Digital
Platform
Strategy
show
Department
The Crypto Queen Pulling the Strings at Binance
U.S. authorities toppled the king of crypto. But the queen is still standing.
24.12 / 06:58
Provident
Booking
Airlines
economy
country
reports
travelers
International
Christmas Sale: Vistara extends discounts on domestic and international flights. Details here
₹1924 (Dibrugarh-Guwahati) for economy class. Premium economy class (Dibrugarh-Guwahati) ticket flights start at ₹2324. For those seeking the ultimate in luxury, business-class prices start at ₹9924, guaranteeing a journey with spacious seats and personalized service.
23.12 / 20:49
Citi
Ball
Continental
awards
Celebrity
Man City confirmed as world's best club in 2023 after winning fifth trophy
Pep Guardiola is happy to call Manchester City the best in the world this year, but an all-time great team? That debate must wait for years if not decades. «Right now, I don't know,» Guardiola said after City cruised to its first Club World Cup title by easily beating Fluminense 4-0 on Friday, lifting a fifth domestic and international trophy in 2023. Guardiola is the first coach to win the FIFA club title with three different teams and compared City's status to the great Barcelona side he led to be champion of Spain, Europe and the world in 2011. «If people talk about the team 25 or 30 years later it means you're a really good team,» he said. «Today is nice.
23.12 / 16:01
Citi
Williams
Porsche
China's Nio launches flagship EV to take on Maybach, Panamera
XIAN (Reuters) — Chinese electric car maker Nio (NYSE:NIO) on Saturday unveiled a flagship model featuring self-developed technologies including semiconductors, betting they would help prop up earnings, as a bruising price war and slowing car demand weigh on profitability.
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