City Abu Dhabi Financial News

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Nio raises $2.2B; Mullen’s third reverse split; and tearing it up with tariffs.

Elon Musk’s Space Exploration Technologies Corp., according to data from CBInsights. OpenAI declined to comment. The company is set to complete a separate tender offer in early January, which would allow employees to sell their shares at a valuation of $86 billion, Bloomberg previously reported.

OpenAI is in early talks to raise a fresh round of funding at a valuation at or above $100 billion, Bloomberg News reported on Friday, citing people with knowledge of the matter. The terms, valuation and timing of the funding round have not yet been finalised and could still change, the report said.

₹1924 (Dibrugarh-Guwahati) for economy class. Premium economy class (Dibrugarh-Guwahati) tickets flight starting at ₹2324. For those seeking the ultimate in luxury, business class the prices are starting at ₹9924, guaranteeing a journey with spacious seats and personalized service.

₹52,000 crore (more than $6 billion) in 2023 from global strategic investors, retirement, and insurance funds. This is nearly one-third of net foreign portfolio inflows (FPIs) into Indian equities this calendar year so far, reported Business Line. Investors acquired stakes in group firms for an amount of ₹52,570 crore during the period March to October, reveals the data sourced from Prime Database.

₹220.8 crore by selling shares to anchor investors on December 19, a day prior to the IPO launch. Prominent investors, including Abu Dhabi Investment Authority, Nippon Funds, ICICI Prudential Mutual Fund, Kotak Mahindra Trustee, Tata MF, Eastspring Investments, Bandhan MF, HDFC Life Insurance, Bajaj Allianz Life Insurance, and Max Life Insurance, expressed keen interest in the company.

(Reuters) — European shares rose on Tuesday led by technology and travel and leisure stocks, with investors gearing up for an inflation print out of the euro zone to gauge when interest rate cuts might begin next year.

By Emma Farge

Investing.com — U.S. futures largely edged higher Monday at the start of the final full trading week of the year, continuing the recent rally with more Fed policymakers due to speak.

Permanent Committee for Human Rights in the UAE, in cooperation and partnership with the General Women's Union and the UN Women Liaison Office for the Gulf Cooperation Council in Abu Dhabi, organised an event titled "Climate Change and Ways to Mitigate Gender-Based Violence" at the Women's Pavilion at COP28. Jamal Al Musharakh, the UAE's Permanent Representative to the United Nations and other international organisations in Geneva, delivered the opening speech and stressed that COP28 UAE placed the issue of women and gender equality in the context of climate action as a top priority. Furthermore, he added that the conference's allocation of a full day of the presidential programme to confront this issue underscored the criticality of elevating the role and participation of women in tackling climate change. The conference presidency was also keen to enhance the skills of national cadres and support the presence of women in its various activities, adding that the UAE negotiating team included many young talented women specialized in climate diplomacy and international negotiations, which affirms Emirati women's active role in achieving UAE sustainability. He maintained that the UAE is active internationally in addressing climate change, and as a member of the Human Rights Council, and in partnership with the United Kingdom, submitted a draft resolution on girls' education that was adopted by the Council at its 54th session without a vote.

The 28th Conference of Parties concluded Wednesday with a historic agreement to move away from fossil fuels – but what that means for sustainable investing is unclear at best.

Taipei Blockchain Week kicked off this week with around 2,000 people from the crypto community gathering on Thursday to hear industry players discuss blockchain trends ranging from Llayer 1’s role in Web3’s in 2024 to the future of decentralized finance (DeFi).

Global Guardian CEO Col. Dale Buckner comments on threats facing the U.S. in China and the Middle East.

There’s a common lament across the halls of Expo City Dubai, the 1,000-acre venue of CoP-28, the climate huddle: This event feels more like a slick trade show than an environmental summit. About 100,000 attendees—nearly three times the number who attended CoP-26 in Glasgow—are milling through the venue. Fossil fuel companies have more than 2,000 representatives in attendance, including Sultan Al Jaber, president of the conference and the chief executive officer of the Abu Dhabi National Oil Company, the UAE’s state-owned petroleum business.

At UN climate talks, cameras are everywhere

Binance has officially withdrawn its application for a financial license in Abu Dhabi, according to Reuters. This move is indicative of the exchange’s ongoing reassessment of its global operations and licensing requirements.

Phoenix Group, a United Arab Emirates Bitcoin mining firm, has disclosed a $380 million deal with WhatsMiner for hydro cooling mining equipment.

Binance has withdrawn an application for an Abu Dhabi licence, the latest sign that the giant crypto exchange is reassessing its global structure as regulatory pressures mount. The Binance unit, called BV Investment Management, pulled the application with Abu Dhabi's financial regulator, a spokesperson for Binance said on Thursday.

The Technology Innovation Institute in Abu Dhabi has launched a blockchain geared towards tracking carbon emissions and facilitating trading amid growing climate concerns.

By Aziz El Yaakoubi and Vladimir Soldatkin

Bitcoin traded close to $44,000 after notching its longest winning streak since May, a rally driven in part by expectations of looser monetary policy.