On Monday, in a historic development, Israel’s El Al Airlines will fly its first flight to the United Arab Emirates by a commercial carrier, said a spokesman for the airline. Ties between both countries have forged ahead as they surge ahead to normalize ties. The direct flight between Israel’s Ben Gurion Airport and the UAE’s…
SoftBank is seeking funds to create a second technology fund. According to two sources familiar with the matter at hand, the founder and CEO of Japan’s conglomerate SoftBank Group Corp is slated to attend an investment conference in Saudi Arabia next week. The development comes as the Japanese company is seeking to raise more funds…
SoftBank’s second fund has already secured funding from Standard Chartered Plc and Goldman Sachs Group Inc. According to a report from the Wall Street Journal, Japan’s SoftBank Group Corp will invest $40 billion in its second Vision Fund. SoftBank’s board will meet on Thursday to approve the commitment. SoftBank’s first, $100 billion Vision Fund was…
Abu Dhabi’s state-owned Mubadala Investment Co is aiming to invest between $5 million and $30 million in European startups. On Monday, as per a report from the Financial Times, Japan’s SoftBank Group has provided nearly 50% of the cash for the new $400 million fund by Abu Dhabi’s state-owned Mubadala Investment Co. Mubadala Investment Co,…
The development is a follow up on a 2016 agreement wherein HyperloopTT had signed up for a feasibility study with Abu Dhabi’s municipal affairs and transport department for the futuristic mass transit system. On Wednesday, Hyperloop Transportation Technologies (HyperloopTT) stated, it plans on building an ultra-fast hyperloop track in Abu Dhabi in the third quarter…
Aramco’s IPO is central to Saudi Arabia’s strategic plan on diversifying its economy. On Monday, the CEO of Saudi Arabia’s Aramco disclosed that it plans on spending around $300 billion over ten years in upstream oil and gas projects. “This is mainly upstream, onshore, offshore and joint ventures in the kingdom and out of the…
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