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Subscribe to enjoy similar stories. Two chip-making giants have discussed building huge factory complexes in the United Arab Emirates that could transform the industry in the coming years and become a cornerstone for artificial-intelligence investments in the Middle East. Top executives at Taiwan Semiconductor Manufacturing Co., the world’s largest chip maker, have visited the U.A.E.

Etihad Airways Group CEO Antonoaldo Neves has the precarious job of balancing growth with profitability and margins as the Abu Dhabi-based airline seeks to save $150 million in costs a year while doubling its size. In a conversation with ET’s Forum Gandhi and Anirban Chowdhury, Neves talks about Etihad’s plans for India, which is among its top three markets globally. Edited excerpts: You joined Etihad in 2022 as it narrowed losses and made management changes. With a half-year profit and shifting in its strategy, what were your main focus areas? What milestones did you achieve? We see Etihad’s journey in three phases. The first 15 years focused on creating a global brand and expanding. Then, for five years, the airline was restructured and downsized to 60 planes. Now, we are ramping up again… We have 92 aircraft in our fleet. In 2022, we broke even. Now, in phase three, we’re planning the airline’s future and restructuring the network to be more profitable, shifting from ultra-long haul to mid-haul and prioritising point-to-point operations from Abu Dhabi. We also aim to double our capacity in India, utilising the available seats in bilateral agreements, and we’re pleased with our performance here. You’re one of the few premium airline CEOs discussing costs. You have previously mentioned a target of $100-150 million in annual cost cuts. How do you balance growth with these cost reductions?

Skyscanner data in June showed that flight bookings for today — September 18 — jumped 189 per cent compared to the previous day, suggesting that Indian fans were eager to soak up the pre-race atmosphere in Singapore ahead of this weekend’s Singapore Grand Prix (September 22). Similarly, the platform also saw a 188 per cent jump in flight bookings for the Abu Dhabi Grand Prix in December. Skyscanner data also showed a surge in hotel bookings for the race weekends. “As sports fever intensifies in India, we’re witnessing a growing desire among fans to travel and experience global sporting events first-hand,” said Mohit Joshi, travel trends and destination expert at Skyscanner. “Our search volume data from July 14 to August 10 showed that the New Delhi – Singapore route has seen a 1,030 per cent increase in searches for travel in the month of September compared to the previous month [June 16 to July 13], coinciding with the Singapore Grand Prix.”

Barcelona’s trophyless campaign last season was when it was spanked not once, but twice, by the formerly modest Girona. Girona dealt Barcelona a pair of stinging 4-2 defeats as the club partly owned by Manchester City’s Abu Dhabi ownership emerged as one of the surprise packages of European football. It finished the Spanish league in third place, just behind Barcelona in second, and classified for the Champions League for the first time. Those embarrassing losses to a fellow Catalan club played a part in the downfall of Xavi Her nández as Barcelona's coach.

FanCode has signed a three year deal with T Ten Global for streaming rights of Zim Afro T10, Abu Dhabi T10 and Lanka T10. The second edition of Zim Afro T10 will start on September 21 and is expected to produce nine days of high-quality cricket, with the likes of David Warner, Dawid Malan, Yasir Shah, Carlos Brathwaite, and Colin Munro, all in the mix. The tournament will put the spotlight on cricket’s fastest format at the Harare Sports Club. The six franchises in the tournament are the Harare Bolts, Bulawayo Brave Jaguars, Cape Town Samp Army, Durban Wolves, Jo’Burg Bangla Tigers and the NYS Lagos.

MAITRI interface on Tuesday will facilitate VTC under the framework agreement between India and the UAE on the India-Middle East-Europe Economic Corridor (IMEEC). The Virtual Trade Corridor (VTC) will be an integral part of IMEEC. Benefits of VTC include reduction of administrative processes and time, reduction of logistics and transport costs, and enhancing ease of doing business . MAITRI is a Master Application for International Trade and Regulatory Interface that integrates multiple Indian operational portals to facilitate interfacing with UAE portals.

A hedge fund investor has bought political magazine The Spectator for 100 million pounds or $131 million

India and the UAE have inked a pact that provides a framework for giving services for operation and maintenance of nuclear plants in the emirate. The Memorandum of Understanding was signed by Bhuwan Chandra Pathak, Chairman and Managing Director of the Nuclear Power Corporation of India Limited (NPCIL), and Mohamed Al Hammadi, the Managing Director and Chief Executive Officer of the Emirates Nuclear Energy Corporation (ENEC) of the UAE. The MoU was inked during the ongoing visit of Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan to India. Al Nahyan held talks with Prime Minister Narendra Modi on Monday.

An Omani state-run oil and gas company says it will make an initial public offering of its exploration and production business, potentially seeking billions in a major move toward privatization in the sultanate

India is set to host the crown prince of Abu Dhabi, Sheikh Khaled bin Mohammed bin Zayed Al Nahyan, early next week as it seeks to cultivate the next generation leadership in the key Gulf state. Sheikh Khaled, the eldest son of UAE President Sheikh Mohammed bin Zayed, has been groomed for leadership through his membership of the Abu Dhabi Executive Council and the main national security body since 2016. In 2016, he was appointed head of national security. In January 2017, he was named the deputy national security adviser. In March 2023, he was appointed as the crown prince of Abu Dhabi, which holds the president's post since the creation of the UAE.

₹4,000 crore. Canada Pension Plan Investment Board (CPPIB), the other final bidder, too had submitted a binding bid for the deal run by JP Morgan. Cube Highways will now be given exclusivity to close the deal for the portfolio of five road assets totalling 230 km.

Mint. The startup sought a valuation of more than $300 million compared with about $76 million in the previous round, the people said. “Minimalist also approached L Catterton, but the US-based private equity firm did not proceed with the discussions," one person said.

Binance Holdings Ltd. is hiring 1,000 people this year with many earmarked for compliance roles as the crypto exchange’s annual spending to meet regulatory requirements, including US oversight under a plea deal, tops $200 million.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Binance Holdings Ltd. is hiring 1,000 people this year with many earmarked for compliance roles as the crypto exchange’s annual spending to meet regulatory requirements, including US oversight under a plea deal, tops $200 million. Chief executive officer Richard Teng, who is visiting the US to talk to monitors and officials, outlined the employment goals for the world’s largest crypto trading platform in an interview with Bloomberg News in New York on Wednesday. “I’ve been a regulator all my life,” Teng said. “Government agencies are important.” He declined to say whether he has met with the securities and exchange commission during his trip. The SEC is suing Binance and wasn’t part of the US settlement.

Jimmy has nearly 10 years of experience as a journalist and writer in the blockchain industry. He has worked with well-known publications such as Bitcoin Magazine, CCN, Business2Community, and...

₹230 crore in FY23, Purplle in a statement in July announced that it is operationally profitable. The company also said that it is currently spending on growing its online platform faster than the industry, while scaling offline stores and improving profitability. Earlier, in June, eyewear brand Lenskart, which has seen a series of fundings over the past year, also closed its latest round of $200 million from Temasek and Fidelity through a secondary share sale.

Aug 19th, Panama – Gate Ventures, the venture capital arm of Gate.io, and the Blockchain Center in Abu Dhabi, a global hub for Web3 technologies, are pleased to unveil Falcon Gate Ventures, a $100 million fund aiming to drive Web3 innovation in the coming years. This joint venture initiative takes a global stance to support Web3 builders that are committed to reshaping the world in the digital age.

IIT Delhi's Abu Dhabi campus will offer two undergraduate courses from the new academic session commencing in September, Director Rangan Banerjee announced on Thursday. The offshore campus, established in 2023, currently offers only postgraduate courses. The two new undergraduate (UG) courses are Computer Science Engineering and Energy Engineering. A total of 60 students will be admitted to the two courses. This will include 20 students who have qualified JEE (Advanced) 2024 and 40 picked through a new entrance test called the Combined Admission Entrance Test (CAET), Banerjee said at a press conference.

Vedanta will save Rs 1,000 crore in interest costs each year after utilising the entire proceeds from its recent fund raising to repay debt, chief financial officer Ajay Goel said. In its earnings for the June quarter, the company has seen profit surge by more than 50%, while margins are at a seven-quarter high. «In the current fiscal, we will save around ₹750 crore in interest costs, and after that we will have the benefit of ₹1,000 each year,» Goel told ET. The natural resources major raised ₹8,500 crore through a qualified institutional placement-its first ever- ast month. The fundraising involved several prominent investors such as Abu Dhabi Investment Authority, Goldman Sachs AMC, Nippon Mutual Fund, SBI Mutual Fund, UTI Mutual Fund and ICICI Mutual Fund.

A Canadian graphite miner has moved its headquarters outside the country to attract new investment as the federal government raises the bar for certain foreign companies to buy into Canada’s critical minerals sector.