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☆ Abu Dhabi's Mubadala commits $1 billion to Blue Owl Capital's credit platform
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

DUBAI, Sept 11 (Reuters) - Abu Dhabi state fund Mubadala Investment Company has committed $1 billion to U.S.-based Blue Owl Capital's credit platform under a strategic partnership announced by the two companies on Monday. The investment will initially focus on providing financing for technology companies, Mubadala and Blue Owl said in a statement. Blue Owl is an alternative investment manager with $150 billion in assets under management. Private credit funds are increasingly competing with banks, including for financing large company buyouts. I would advise that for the next maybe one year, the credit space would be an interesting space to deploy some investment," al-Mahmoud said at the time.

Persons: Fabrizio Bocciardi, QIA, Mansoor Ebrahim Al, Mahmoud, al, Hadeel Al Sayegh, Susan Fenton Organizations: Mubadala Investment Company, Asia Pacific, Qatar Investment Authority, Thomson Locations: DUBAI, Abu Dhabi, North America, Europe, Asia

Emirates airliners are seen on the tarmac in a general view of Dubai International Airport in Dubai, United Arab Emirates January 13, 2021. REUTERS/Abdel Hadi Ramah/File Photo Acquire Licensing RightsABUJA, Sept 11 (Reuters) - Emirates Airlines will resume immediate flight schedules to Nigeria and lift a visa ban on Nigerian travellers, following a meeting between the leaders of the two countries, the Nigerian presidency said on Monday. Tinubu stopped in Abu Dhabi on his way from G20 summit in India, where he wooed investors to Nigeria. Last month Tinubu said he wanted an immediate resolution to the disagreements with Emirates Airlines and visa issues by the Arab country. The UAE stopped issuing visas to Nigerians last year after Dubai's Emirates suspended flights due to an inability to repatriate funds from Nigeria.

Persons: Abdel Hadi Ramah, Bola Ahmed Tinubu, Emirates Mohamed bin Zayed Al Nahyan, Tinubu, Ajuri Ngelale, Ngelale, Chijioke Ohuocha, Felix Onuah, David Evans, Peter Graff, Richard Chang Organizations: Emirates, Dubai International, United Arab Emirates, Rights, Emirates Airlines, United, UAE, Dubai's Emirates, Etihad Airlines, Thomson Locations: Dubai, United Arab, Rights ABUJA, Nigeria, Emirates, Abu Dhabi, India, State, Nigerian

☆ Standard Chartered-owned crypto firm Zodia launches in Singapore
▼ + stars: | 2023-09-11 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Zodia Custody, a company that helps large institutions store their crypto, launched in Singapore on Tuesday in a bid to tap into the country's rapidly growing digital asset market. The development makes Zodia the first entity that is owned by and partnered with banks to provide digital asset custody services for financial institutions in Singapore, Zodia said in a news release. Zodia is also part-owned by SBI Digital Asset Holdings, the crypto division of Japanese bank SBI. "Singapore is a market that has been no stranger to the crypto world for a long time," Sawyer said. Standard Chartered has a "fantastic brand" in Singapore, Sawyer said, adding that the backing of such a large institution has helped boost its conversations with major financial firms.

Persons: Zodia, StanChart, Julian Sawyer, Sawyer, blockchain, Crypto, Zodia's, Coinbase Organizations: Standard Chartered, Northern Trust, SBI Digital Asset Holdings, SBI, CNBC, Starling, Chartered, Arrows, United, United Arab Emirates Locations: Singapore, British, Asia, Africa, Japan, Pacific, Abu Dhabi, United Arab, India

☆ New US-backed India-Middle East trade route to challenge China’s ambitions
▼ + stars: | 2023-09-11 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +8 min

It is comprised of two separate routes – an east corridor linking India to the Gulf Arab states and a northern corridor connecting the Gulf states to Europe. “I don’t think we would be here without you.”Goods and services would transit through the UAE, Saudi Arabia, Jordan, Israel and Europe. “The heart of the matter is that it is an alternative (to China’s BRI),” she said. Baharoon added that the project, if perceived as a “replacement” or “competitor” to China’s BRI, would fail to realize its potential. Despite pressure to choose sides, Gulf states have insisted that they maintain a balanced position that involves political and economic cooperation across the board, something that analysts say makes Gulf states strategically vital.

Persons: Joe Biden, ” Biden, Mohammed Bin Zayed, Narendra Modi, MBZ, Biden, ”, “, Xi Jinping, Cinzia Bianco, Bianco, China’s BRI, Beijing’s, China’s, Giorgia Meloni, Rome, Italy’s, Meloni, ‘, ” Mohammed Baharoon, Baharoon, Abu, ” Bianco Organizations: UAE CNN —, United Arab, Initiative, Group, European Union, UAE, Indian, US, European Council, Foreign Relations, Dubai Public Policy Research Center, CNN Locations: Abu Dhabi, UAE, India, Saudi Arabia, United Arab Emirates, East, Europe, Beijing, China, France, Italy, Germany, Gulf, Jordan, Israel, Salt Lake City , Utah, Vietnam, Berlin, Middle, Dubai, Brazil, Russia, South Africa, BRICS

☆ First Abu Dhabi Bank executive director says it prefers bonds to stocks right now
▼ + stars: | 2023-09-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFirst Abu Dhabi Bank executive director says it prefers bonds to stocks right nowOliver Kettlewell, executive director at First Abu Dhabi Bank, says there are "ominous signs" in the stock market despite a "rip-roaring" year so far.

Persons: Oliver Kettlewell Organizations: Abu Dhabi Bank, Abu Locations: Abu Dhabi

☆ New mosaic of Mars could enable humans to settle on another world
▼ + stars: | 2023-09-09 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

CNN —When the Perseverance rover landed on Mars in February 2021, it wasn’t alone. The instrument’s capabilities demonstrated that oxygen for life support systems and rocket fuel could be created on Mars rather than transported from Earth. The device is another tool enabling the eventual exploration of Mars by humans. Other worldsThis map of Mars, created by researchers at New York University Abu Dhabi, uses color photographs of the entire planet. That’s what researchers at New York University Abu Dhabi are aiming to do with the Mars Atlas.

Persons: Percy, Dimitra Atri, ”, Fujianvenator, Christopher Owen Hunt, Ralph Solecki, Arlette Leroi, Gourhan, Chris Hunt, Nicolas Reusens, Jack Zhi, ” Zhi, —, REx, Comet Nishimura, Ashley Strickland, Katie Hunt Organizations: CNN, New York University, NYU Abu Dhabi Center for Astrophysics, Mars, United, United Arab Emirates, Mars Research, Liverpool John Moores University, Amagusa, CNN Space, Science Locations: Mars, New York University Abu, New York University Abu Dhabi, United Arab, China, Fujian, Kurdistan, Iraq, United Kingdom, Japan, Israel

Reliance, whose interest in making semiconductors has not been previously reported, did not respond to repeated requests for comment. India's IT ministry and Prime Minister Narendra Modi's office also did not respond to requests for comment. The country does not as yet have any chip manufacturing plants, although India's Vedanta (VDAN.NS) and Taiwan's Foxconn (2317.TW) are both looking at building facilities. India's government has forecast the domestic chip market will be worth $80 billion by 2028 compared with $23 billion currently. But chip manufacturing is an industry that has historically been beset with boom and bust cycles and requires much expertise.

Persons: Amit Dave, Mukesh, Narendra Modi's, Modi, Vedanta, Taiwan's Foxconn, Arun Mampazhy, –, Foxconn, Munsif Vengattil, Aditya Kalra, Edwina Gibbs Organizations: Reliance Industries, Gujarat Global Trade, REUTERS, Reliance, Google, U.S, Vedanta, Ventures, Semiconductor, Intel, Orbit Ventures, Thomson Locations: Gujarat, Gandhinagar, India, DELHI, Abu Dhabi

The logo of German chemicals maker Covestro is pictured outside its headquarters in Leverkusen, Germany, July 26, 2019. The sign of change from Covestro's previous stance comes after two top-15 investors of the plastics and chemicals maker told Reuters last month that it should engage in formal takeover talks in the interest of its shareholders. The German group's shares were up 8.6% at 51.96 euros at 1445 GMT, their highest level in about 18 months. In August, ADNOC indicated to Covestro, which has not commented on the takeover approach, that it could raise its informal offer to 60 euros conditional on the German company entering formal talks, Reuters reported at the time. That non-binding offer would value Covestro, a maker of chemicals used in insulation, upholstery foams, coatings and transparent engineering plastics, at about 11.6 billion euros ($12.4 billion).

Persons: Wolfgang Rattay, Abu, ADNOC, Ludwig Burger, Urvi, Elisa Martinuzzi, Jason Neely Organizations: REUTERS, Abu Dhabi National Oil Company, Reuters, Covestro, BASF, Bloomberg News, Thomson Locations: Leverkusen, Germany, Abu Dhabi, Frankfurt, Bengaluru

FILE PHOTO: An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. Riyadh says it aims to stabilise the oil market by extending a voluntary oil output cut of 1 million barrels per day until the end of 2023. Declining oil production and revenue this year could see Saudi Arabia's economy shrink for the first time since 2020 at the height of the COVID-19 pandemic, although a hefty dividend from state oil producer Saudi Aramco (2222.SE) should provide a cushion for public finances. Last year the Saudi economy grew 8.7% and generated a fiscal surplus of 2.5% of GDP, its first surplus in nine years as oil soared to highs near $124. "Certainly, we see no signs that the Public Investment Fund's acquisition streak is cooling," RBC Capital Markets said in a note.

Persons: Ahmed Jadallah, Justin Alexander, Monica Malik, Alexander, James Swanston, PIF, Neil Quilliam, Quilliam, Rachna Uppal, Yousef Saba, Ahmad Ghaddar, Susan Fenton Organizations: REUTERS, Saudi Aramco, OPEC's, Khalij Economics, Abu, Abu Dhabi Commercial Bank, PMI, GlobalSource Partners, Capital Economics, International Monetary Fund, IMF, Public Investment Fund, Saudi, Public Investment, RBC Capital Markets, Reuters, Chatham House, Aramco, Riyadh bourse, Thomson Locations: Aramco, Saudi, Saudi Arabia, DUBAI, Riyadh, Ukraine, Abu Dhabi, Saudi Aramco, London, PIF

☆ How mapping Mars could help us live there
▼ + stars: | 2023-09-08 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +7 min

“It might sound silly, but maybe in the future it will be very common for people to go to Mars and even live there,” says Atri. EMM/EXI/Dimitra Atri/NYU Abu Dhabi Center for Astrophysics and Space ScienceDust and desertificationAstronomers have been mapping Mars for nearly two centuries. NASA’s Goddard Institute of Space Sciences is now using NYUAD’s map in its Mars 24 software, which maintains precise timings on Mars. The new images show details of Mars’ topography, like the Valles Marineris, which is known as the “Grand Canyon of Mars,” in stunning detail. But elsewhere, other researchers are already examining how innovations being developed to grow food on Mars could impact Earth.

Persons: Dimitra Atri, ”, Wilhelm Beer, Johann von Mädler, Giovanni Schiaparelli’s, NASA’s, Scott Dickenshied, Mars, Atri Organizations: CNN, Planet, NASA, European Space Agency, ESA, New York University Abu Dhabi, Mars, United, United Arab Emirates, Mars Research, NYUAD, NYU Abu Dhabi Center for Astrophysics, NASA’s Goddard Institute of Space Sciences, United Arab Locations: Texas, United Arab, Mars, Germany, Italian, Africa, United Arab Emirates, Canada

MANILA, Philippines (AP) — There will be no gold medal for the U.S. at this World Cup. Germany — the last unbeaten team left in the tournament at 7-0 — will play Serbia on Sunday (8:40 a.m. EDT) for the World Cup title. Serbia beat Canada in the first semifinal, getting to its second World Cup final in the last three tournaments; it lost 129-92 to the U.S. in the 2014 championship game. Germany had been 0-6 against the Americans in World Cup or Olympic competition, usually getting blown out in those games. Once again, even bringing the only roster filled with all NBA players wasn’t enough for the U.S. at the World Cup.

Persons: Andreas Obst, Franz Wagner, Obst, “, Austin Reaves, Anthony Edwards, Reaves, Jalen Brunson, ” Reaves, Daniel Theis, Theis, —, Reaves couldn't, Schroder —, Los Angeles Lakers — revel, ” ___ Organizations: it’s, ”, Germany —, Serbia, Canada, U.S, NBA, Americans, USA Basketball, Germany, Los Angeles Lakers —, “, AP Locations: MANILA, Philippines, FIBA’s, it’s Germany, Germany, U.S, ” U.S, Canada, Mikal Bridges, China, Abu Dhabi

The UAE introduced a new regulatory body to oversee commercial gaming on Monday, made up of casino and gambling experts from the United States. Gambling is currently illegal in the UAE, where some laws are based on the Quran, which forbids the practice. The new federal body, called the General Commercial Gaming Regulatory Authority (GCGRA), would create a “regulatory framework for a national lottery and commercial gaming,” according to Emirati state media WAM. “[GCGRA will] facilitate unlocking the economic potential of commercial gaming responsibly,” WAM said. “I look forward to establishing a robust regulatory body and framework for the UAE’s lottery and gaming industry,” Mullally said on his new appointment, according to WAM.

Persons: ” WAM, Kevin Mullally, Jim Murren, Mullally, ” Mullally, Ras Al Khaimah, Craig Billings, ” Billings Organizations: Abu Dhabi CNN —, United Arab, Gaming Regulatory Authority, Industry, MGM Resorts International, MGM, Gaming Laboratories, Wynn Resorts, United, WYNN, Wynn Hotels, Global, Caesars Entertainment, Royal, Royal Caribbean Cruise, UAE, Costa Cruises, Bloomberg Locations: Abu Dhabi, United Arab Emirates, UAE, United States, Ras Al, Dubai, Royal Caribbean, Singapore

With the win, Germany is assured of no worse than its second-best finish in basketball’s top two international events — the World Cup and the Olympics. The Germans were third in the 2002 world championships, an event now called the World Cup, and have never placed better than seventh at an Olympics. Latvia — which has been without the injured Kristaps Porzingis — can still finish as high as fifth in its first World Cup appearance. Germany's in the semifinal of the World Cup,” Germany's Moritz Wagner said. I'm going to enjoy this and then I'm going to think about the USA tomorrow.”___AP NBA: https://apnews.com/hub/nba and AP sports: https://apnews.com/sports

Persons: Franz Wagner, ” Germany's Johannes Thiemann, Andreas Obst, Dennis Schroder, Arturs Zagars, Davis Bertans, ”, Bertans, —, Kristaps Porzingis, “, Gordie Herbert, They’ll, ” Germany's Moritz Wagner, ___ Organizations: —, Basketball, Germany —, Olympics, ”, Tuesday, Manila American Cemetery, Latvia, USA, NBA, AP Locations: MANILA, Philippines, — Germany, United States, Germany, Latvia, U.S, Abu Dhabi, basketball’s, Olympics, Italy, Europe, ” Germany, Manila, Germany's

☆ Western officials arrive in the UAE amid push to deprive Russia of advanced microchips
▼ + stars: | 2023-09-06 | by ( Mostafa Salem | ) edition.cnn.com time to read: +5 min

The UAE has invested large sums in developing an artificial intelligence program and has a ministry dedicated to the technology. UAE ‘abides by UN sanctions’Russia is under a barrage of sanctions from the US and other Western nations following its full-scale invasion of Ukraine last year. Western officials have visited the UAE several times over the past two years to warn the regional business hub that helping Moscow evade sanctions wouldn’t be without consequences. The UAE central bank in March cancelled a license granted to Russia’s MTS Bank after it came under US and British sanctions. We look at BRICS from a geo-economic not a geo-political perspective, with the aim of strengthening our economic competitiveness,” a senior UAE official told CNN.

Persons: ”, AMD, “, Abu Organizations: Abu Dhabi CNN — Senior, United, European Union, CNN, Street, UAE, Nvidia, Reuters, AMD, US Department of Commerce, Financial Times, UAE’s Technology Innovation Institute, UN, US, “, MTS Bank, Moscow, BRICS, UAE hasn’t, New Development Bank Locations: Abu Dhabi, United Arab Emirates, Russia, Ukraine, United States, United Kingdom, Gulf, “, UAE, East, Saudi Arabia, Moscow, Iran, Washington, multipolarity, China, South Africa, BRICS

The India-led International Solar Alliance launched the Green Hydrogen Innovation Centre earlier this year, and India itself approved $2.3 billion for the production, use and export of green hydrogen. Global cooperation on green hydrogen manufacturing and supply is expected to be discussed by G-20 leaders at this week's summit in New Delhi. WHAT IS GREEN HYDROGEN? Boshell said just replacing this so-called gray hydrogen — hydrogen produced from fossil fuels — would ensure a long-term market for green hydrogen. And then we can add additional demand and applications of green hydrogen as a fuel for industries, shipping and aviation,” he said.

Persons: Francisco Boshell, Robert Howarth, Boshell, ” Organizations: Solar Alliance, Hydrogen Innovation, International Renewable Energy Agency, Energy, Commission, Cornell University, Action, International Energy Agency, AP Locations: BENGALURU, India, New Delhi, Abu Dhabi, Ithaca , New York

Traders have told Reuters the price could possibly be below an unofficial floor set by Russia's government to control domestic wheat prices. Other Russian wheat suppliers submitted offers on Friday at a free-on-board price of $265 per metric ton, believing it to be the set price floor, and a C&F price that exceeded $270 per ton. Traders told Reuters the price floor was not legally binding but that suppliers were expected to follow instructions from Russia's agriculture ministry. There is a lack of clarity in the market about the level of the Russian minimum floor price. GASC had also privately bought one cargo of Bulgarian wheat at $270 per ton C&F on Friday.

Persons: Mohamed Abd El Ghany, GASC, Sarah El Safty, Michael Hogan Organizations: REUTERS, Rights, General Authority for Supply Commodities, Solaris, Reuters, Traders, Abu, Abu Dhabi Exports Office, Thomson Locations: Al Qalyubia Governorate, Egypt, Rights CAIRO, Ukraine, Abu Dhabi, UAE

☆ Oil giant led by COP28 boss to spend an ‘eyewatering’ $1 billion a month on fossil fuels this decade, Global Witness says
▼ + stars: | 2023-09-04 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

UAE oil giant ADNOC — run by the president of the COP28 climate conference — is expected to spend more than $1 billion every month this decade on fossil fuels, according to new analysis by international NGO Global Witness. It comes ahead of the COP28 climate summit, with Dubai set to host the U.N.'s annual conference from Nov. 30 through to Dec. 12. The person overseeing the talks, Sultan al-Jaber, is chief executive of ADNOC (the Abu Dhabi National Oil Company) — one of the world's largest oil and gas firms. His position as both COP28 president and ADNOC CEO caused dismay among civil society groups and U.S. and EU lawmakers, although several government ministers have since defended his appointment. It means that ADNOC is forecast to spend nearly seven times more on fossil fuels through to 2030 than it does on "low-carbon solution" projects.

Persons: Sultan Al Jaber, Sultan al, Jaber Organizations: Abu Dhabi National Oil Company, UAE, Global, ADNOC, CNBC Locations: Abu Dhabi, Brussels, Dubai, Paris

☆ Oman's OQ Gas Networks plans Muscat's biggest IPO in almost two decades
▼ + stars: | 2023-09-04 | by ( Hadeel Al Sayegh | ) www.reuters.com time to read: +3 min

OQGN is Oman's exclusive gas transportation system operator, supplying natural gas to the country's power plants, freezones, industrial clusters, LNG complexes and other customers. OQ, directly and indirectly through Oman Energy Trading Company Limited and Oman Oil Services Limited, is offering up to 49% of the shares, the document said. The company plans to pay a semi-annual dividend in cash to investors after the offering. A first dividend of 33 million rials for the first nine months of 2023 is estimated to be paid around January next year, and a second dividend of 11 million rials for the last three months of 2023 will be paid around April, 2024. Reuters first reported the IPO plans for the company last May.

Persons: OQGN, Talal Al Awfi, Al Awfi, Hadeel Al Sayegh, Louise Heavens, Sharon Singleton, Ed Osmond Organizations: OQ Gas Networks, Reuters, Oman Telecommunications, Oman Energy Trading Company Limited, Oman Oil Services, OQ, Abraj Energy Services, Oman Investment Authority, OQ's, Thomson Locations: DUBAI, Oman, Abu Dhabi, Saudi Arabia

☆ Perfect 10 for Verstappen with record win in Italy
▼ + stars: | 2023-09-03 | by ( Alan Baldwin | ) www.reuters.com time to read: +4 min

The Dutch driver's victory on a sunny afternoon at Monza's "Temple of Speed" outside Milan was also Red Bull's 15th in succession -- another Formula One record that looks set to continue. Verstappen stretched his lead in the standings over Perez to 145 points with eight rounds remaining. Red Bull lead Mercedes in the constructors' championship by 310 points with Ferrari moving up to third. "Well done mate, you are on your own, that is history," team boss Christian Horner told Verstappen over the radio after he took the chequered flag. "Honestly, I spent the whole race pushing trying to keep the Red Bulls behind.

Persons: Max Verstappen, Claudia Greco, Red Bull, Perez, Red, Sainz, Sergio Perez, Spaniard Carlos Sainz, Verstappen, Bull, Mercedes, Christian Horner, Charles Leclerc, George Russell, Lewis Hamilton, Alex Albon, Williams, McLaren's Lando Norris, Aston Martin's Fernando Alonso, Valtteri, Liam Lawson, Oscar Piastri, German Sebastian Vettel's, Ferrari, Yuki Tsunoda's AlphaTauri, Leclerc, Ferraris, Alan Baldwin, Hugh Lawson, Ed Osmond Organizations: Prix, Autodromo Nazionale Monza, Prix REUTERS, Ferrari, Red, Mercedes, Alfa Romeo, New Zealand, McLaren, Red Bulls, Thomson Locations: Monza, Italy, MONZA, Milan, German, Abu Dhabi, Mexican

☆ Brazil Burger King brand owner's shareholders reject poison pill in win for Mubadala
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Aug 31 (Reuters) - Zamp (ZAMP3.SA), the owner of the Burger King brand in Brazil, said on Tuesday its shareholders rejected a proposal to include a poison pill in its internal bylaws, a win for Abu Dhabi state investor Mubadala which is building a large stake in the firm. The proposal that would implement a poison pill in addition to limit the voting power of a single shareholder to 15% was rejected 57.5% of the votes, Zamp said. The outcome is a key win for Mubadala, who raised its stake in the firm to 20.4% shortly after the proposal was unveiled in July, becoming Zamp's largest shareholder. At the time, Mubadala had 4.95% of the company and it offered 8.31 reais per share to buy a controlling stake. (This story has been corrected to fix the spelling of Mubadala in the headline)Reporting by Peter Frontini; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Zamp, Mubadala, Peter Frontini, David Gregorio Our Organizations: SAO PAULO, Burger King, Abu, Mubadala, Thomson Locations: Brazil, Abu Dhabi

☆ Mostafa Rajaee: Iran bans weightlifter for life for shaking Israeli athlete’s hand
▼ + stars: | 2023-08-31 | by ( Mostafa Salem | ) edition.cnn.com time to read: +2 min

Abu Dhabi CNN —An Iranian professional weightlifter received a lifetime ban from competing after shaking the hand of an Israeli athlete during an international competition, according to an Iranian state news agency. Weightlifting champion Mostafa Rajaee, 36, was filmed shaking hands and posing for a picture with Israel’s Maksim Svirsky at the World Master Weightlifting Championships in Poland this week, according to a video published by Iran’s state-run news agency IRNA Wednesday. Polmasters/YouTubeThe head of the expedition, Hamid Salehinia, was also removed from his position, state outlet Tasnim reported. In an Instagram post after the event, Rajaee thanked “everyone who helped me along the way [for finishing second]” but did not comment on either the handshake or his subsequent ban. Iran does not recognize Israel as a country and regularly issues hostile statements, while Iranian athletes have long been prohibited by the government from competing against Israelis.

Persons: Mostafa Rajaee, Israel’s Maksim Svirsky, Rajaee, Maksim Svirsky, Hamid Salehinia, “, Saeid Mollaei, Mollaei, Israel’s Sagi Muki, Matthias Casse, ” Organizations: Abu Dhabi CNN, IRNA, ”, International Judo Federation, International Chess Federation, FIDE, Iranian Chess Federation Locations: Abu Dhabi, Iranian, Poland, Israel, Iran, Belgium, Germany

☆ Swiss SEBA Bank gets approval-in-principle for Hong Kong crypto services
▼ + stars: | 2023-08-30 | by ( Georgina Lee | ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsHONG KONG, Aug 30 (Reuters) - Swiss crypto-focused SEBA Bank on Wednesday said it has received an approval-in-principle from Hong Kong's securities regulator that takes it only one step away from offering virtual asset services in the Asian financial hub. SEBA (Hong Kong), in a statement, said the Securities and Futures Commission will grant licences once it meets conditions for final approval. It will then be able to engage in securities dealing, including crypto-related structured products, and advise on and manage digital assets and traditional securities. Hong Kong is the third market in which the Zug-headquartered bank has sought a licence after Switzerland and Abu Dhabi. The approval-in-principle allows SEBA to prepare for operations as soon as it is licensed.

Persons: Dado Ruvic, HONG KONG, Georgina Lee, Christopher Cushing Organizations: REUTERS, Bank, Securities, Futures, Thomson Locations: HONG, Swiss, Hong Kong, cryptocurrencies, Zug, Switzerland, Abu Dhabi

☆ Astronomers solve the puzzle of an unusual pulsing dead star
▼ + stars: | 2023-08-30 | by ( Ashley Strickland | ) edition.cnn.com time to read: +4 min

The spinning dead star and the companion star that it closely orbits were first discovered in 2007. Once the pulsar began siphoning off material from the companion star, its characteristic pulsing beam disappeared. Instead, the pulsar entered a constant, alternating cycle of operating in what astronomers call “high” mode and “low” mode. They discovered that an exchange of matter between the pulsar and its companion star triggers the unusual behavior of the pulsar. As the pulsar tugs at its companion star, gas releases from the companion and forms a disk around the pulsar before slowly falling toward it.

Persons: ”, Maria Cristina Baglio, Francesco Coti Zelati, Coti Zelati, Sergio Campana Organizations: CNN, Astrophysics, New York University, Italian National Institute for Astrophysics, Institute of Space Sciences, Astronomers, Southern, Italian National Institute for Astrophysics ’, Observatory Locations: New York University Abu Dhabi, Barcelona, Spain, Chile

☆ Verstappen goes for a record 10th win in a row
▼ + stars: | 2023-08-30 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

Verstappen won the Italian Grand Prix from seventh on the starting grid last year with Ferrari's Charles Leclerc on pole but finishing second. Red Bull have won every race so far this season, 14 in a row including the 2022 finale in Abu Dhabi, and are again favourites at Monza's fast layout. Since Lewis Hamilton's fifth Italian GP win with Mercedes in 2018 no driver has managed a repeat victory in the former royal park outside Milan. Talk of a 'Monza jinx' may be premature but this is a season where straws are being clutched more desperately. For Gasly, who lives in Milan, it is effectively a home race and one with a special place in his heart.

Persons: Max Verstappen, Stephanie Lecocq, Max, Sergio Perez, Sebastian Vettel's, Red Bull, Verstappen, Ferrari's Charles Leclerc, Austrian Gerhard Berger, Michele Alboreto, Enzo Ferrari, Lewis Hamilton's, Leclerc, Pierre Gasly, Daniel Ricciardo, Ricciardo, Fred Vasseur, Ferrari, Carlos Sainz, Aston Martin, McLaren, McLaren's Lando Norris, Frenchman, Aston Martin's Fernando Alonso, Alan Baldwin, Pritha Sarkar Organizations: Prix, Dutch Grand Prix REUTERS, Monza, McLaren, Ferrari, Mercedes, Zandvoort, Imola, Aston Martin's, Thomson Locations: Zandvoort, Netherlands, Abu Dhabi, Milan, Hamilton, Italian, Asia, Americas, Middle East, Monza, Italy, London

☆ UAE's G42 launches open source Arabic language AI model
▼ + stars: | 2023-08-30 | by ( Max A. Cherney | ) www.reuters.com time to read: +2 min

Startup Cerebras System's new AI supercomputer Andromeda is seen at a data center in Santa Clara, California, U.S. October 2022. Rebecca Lewington/Cerebras Systems/Handout via REUTERS/File Photo Acquire Licensing RightsAug 30 (Reuters) - A group of engineers, researchers and a Silicon Valley-based chip company collaborated to release advanced Arabic language software that can power generative AI applications. The new large language model called Jais contains 13 billion parameters that was made from a big batch of data combining Arabic and English, a portion of which is from computer code. The new language model was created with the help of supercomputers produced by the Silicon Valley-based Cerebras Systems, which designs dinner plate-sized chips that compete with Nvidia's (NVDA.O) powerful AI hardware. The group trained the Jais model on a Cerebras' supercomputer called a Condor Galaxy.

Persons: Rebecca Lewington, Cerebras, Mohamed bin, Timothy Baldwin, Baldwin, Max A, Josie Kao Organizations: Cerebras, REUTERS, Systems, United Arab Emirates, University of Artificial Intelligence, Reuters, Condor Galaxy, Thomson Locations: Santa Clara , California, U.S, University, Abu Dhabi, San Francisco

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