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Can Sun, FTX former general counsel, cooperated with the investigation that led to Sam Bankman-Fried’s conviction. Photo: Stephanie Keith/Bloomberg NewsA group of former FTX executives, including one who served as a key witness against Sam Bankman-Fried, are teaming up to build a new cryptocurrency exchange that aims to solve the problems that doomed their previous employer. Trek Labs, a Dubai-based startup led by the former FTX general counsel Can Sun , received a license from the emirate’s crypto regulator last month.
Persons: Sam Bankman, Stephanie Keith, Sun Organizations: Bloomberg, Trek Labs Locations: Dubai
Israel had delayed its ground attack to give some time for the hostage negotiations to be completed, according to two of the officials. “The only way of saving the hostages is if Israel continues its ground operation.”On Oct. 7, Palestinian attackers penetrated towns and military bases in southern Israel and killed roughly 1,400 people. The United States and Israel have long used Qatar as an intermediary to get messages to Hamas and to coordinate aid efforts in Gaza. Over the last week, Hamas has added a new condition for releasing civilian hostages — the delivery of fuel to collapsing hospitals across the Gaza Strip. Israel has prevented fuel deliveries into Gaza, claiming that Hamas uses it for its rocket attacks and that it has stockpiled fuel meant for civilians.
Persons: Yoav Gallant, Israel Organizations: Israel, New York Times, Hamas Locations: Gaza, Israel, Qatar, United States, Doha
Dubai ruler approves 246.6 billion dirham budget for 2024-2026
  + stars: | 2023-11-06 | by ( ) www.reuters.com   time to read: +1 min
Horse Racing - Dubai World Cup - Meydan Racecourse, Dubai, United Arab Emirates - March 30, 2019 Dubai's Ruler Sheikh Mohammed bin Rashid al-Maktoum, Prime Minister and Vice-President of the United Arab Emirates gestures from the podium during the trophy presentation for the Dubai World Cup Sponsored By Emirates Airline ... Acquire Licensing Rights Read moreDUBAI, Nov 6 (Reuters) - Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum approved a budget of 246.6 billion dirham ($67.14 billion) for the emirate's government in 2024-2026, the Dubai media office said on Monday. Expenditure for the fiscal year 2024 alone is estimated at 79.1 billion dirham, and public revenues at 90.6 billion dirham, the media office added. Of the estimated revenues, 85.1 billion dirham would be allocated to the budget, and the remaining 5.5 billion dirham would go to the general reserve, it said. Dubai, one of the seven emirates that constitute the oil-rich United Arab Emirates, is widely regarded as the trade and tourism hub of the Gulf region. ($1 = 3.6729 UAE dirham)Reporting by Nayera Abdallah; editing by Mark Heinrich and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.
Persons: Sheikh Mohammed bin Rashid al, Maktoum, Saleh Al Saleh, Al Saleh, Nayera Abdallah, Mark Heinrich, Barbara Lewis Organizations: Racing, Dubai, United Arab Emirates, United, Emirates Airline, Department, Finance, Thomson Locations: Dubai, United Arab, United Arab Emirates, DUBAI, Gulf, UAE
GENEVA (AP) — The near certainty that Saudi Arabia will host the 2034 men's World Cup unites two of the most influential men in world sports: the leader of soccer's governing body and the kingdom's crown prince. In the case of Saudi Arabia, U.S.-based journalist Jamal Khashoggi was slain inside the Saudi Consulate in Istanbul in 2018. The men’s World Cup should earn Switzerland-based FIFA more than $10 billion in almost entirely tax-free revenue. “Mohammed bin Salman wants Saudi Arabia to be a hub of anything and everything,” Middle East expert James Dorsey said. Then came the COVID-19 pandemic and FIFA canceled the planned June 2021 relaunch in China of its Club World Cup event.
Persons: Gianni Infantino, Prince Mohammed bin Salman, sportswashing, Jamal Khashoggi, Prince Mohammed, Infantino, King Salman, Prince Mohammed's, “ Abraham, , Donald Trump, ” Infantino, Mohammed's, Cristiano Ronaldo, “ Mohammed bin Salman, James Dorsey, Greece —, , Australia –, they’ve, James Johnson, , Yasser Al Misehal –, Organizations: GENEVA, FIFA, Australia, Qatar, White House, “ Abraham Accords, United Arab, Soccer, Newcastle, Russia, Saudi, ” Football Australia, ” FIFA, FIFA Council, Fox News Locations: Saudi Arabia, Persian, Saudi, U.S, Istanbul, Riyadh, Switzerland, Gulf, Israel, United Arab Emirates, Bahrain, Europe, Swiss, China, Qatar, United States, Canada, Mexico, Egypt, Greece, Africa, South America, Asia, Oceania, Saudi Arabian, Australia
G42, founded by the emirate of Abu Dhabi, said it would utilize OpenAI's generative AI models in areas including financial services, energy, healthcare and public services. Mubadala-backed G42 has been at the forefront of AI adoption in the UAE. Abu Dhabi's Advanced Technology Research Council (ATRC) also made its Falcom 40B large language model (LLM) open source for research and commercial use in May. G42 said it would use Microsoft's (MSFT.O) Azure data centers as part of its AI infrastructure to boost regional adoption. OpenAI CEO Sam Altman had visited Abu Dhabi in June as part of his AI "world tour", where he advocated for AI developments to be regulated by international bodies.
Persons: Dado Ruvic, OpenAI, Abu, Sam Altman, Arsheeya, Pooja Desai Organizations: REUTERS, United Arab, U.S, Cerebras Systems, Abu, Technology Research, Thomson Locations: Abu Dhabi, United Arab Emirates, UAE, Bengaluru
REUTERS/Ali Khara/File Photo Acquire Licensing RightsKABUL, Oct 14 (Reuters) - The Taliban will attend China's Belt and Road Forum next week, a spokesman said on Saturday, underscoring Beijing's growing official ties with the administration, despite its lack of formal recognition by any government. Taliban officials and ministers have at times travelled to regional meetings, mostly those focussed on Afghanistan, but the Belt and Road Forum is among the highest-profile multilateral summits it has been invited to attend. China has been in talks with the Taliban over plans, begun under the previous foreign-backed government, over a possible huge copper mine in eastern Afghanistan. Officials from China, the Taliban and neighbouring Pakistan said in May they would like Belt and Road to include Afghanistan and for the flagship China Pakistan Economic Corridor to be extended across the border to Afghanistan. China has boosted engagement with the Taliban, becoming the first country to appoint an ambassador to Kabul since the Taliban took power, and invested in mining projects.
Persons: Mullah Abdul Ghani Baradar, Wang Yu, Ali Khara, Xi, Haji Nooruddin Azizi, Akhundzada Abdul Salam Jawad, Azizi, Akhundzada, Mohammad Yunus Yawar, Charlotte, Joe Cash, William Mallard Organizations: Afghan, REUTERS, Rights, China Pakistan Economic, Taliban, Thomson Locations: China, Islamic Emirate, Afghanistan, Kabul, Rights KABUL, Beijing, Pakistan, China Pakistan, Charlotte Greenfield, Islamabad
Why superyacht builders are investing in solar
  + stars: | 2023-10-06 | by ( Sydney Boyo | ) www.cnbc.com   time to read: +5 min
Early tech adopters are investing in a new toy: solar-powered electric yachts. "I believe electric yachts and electric motors will be the main propulsion of pleasure yachts and even cargo vessels in the near future." The company says it has an order book of 160 million euros ($168 million), with prices ranging from 3.2 million euros for its 60-foot yacht to 30 million euros for the fully equipped version of its 120-foot vessel. "The smallest boat is around 1.5 million euros and on the upper range there really is no limit. "We think there is a sweet spot for solar electric boats between 50 and 120 feet," said Kress.
Persons: Mike Horn, Michael Köhler, it's, Heiki, Stephan Kress, Sunreef, Rafael Nadal, Fernando Alonso, Nicola Lapp, Kress Organizations: SuperYacht Times, of Yachting, ForSea Ferries, Allied Market Research, Silent Yachts, Yachts, Formula Locations: SuperYacht Times ', North America, Sweden, Austria, Italy, Turkey, Gdansk, Poland, Emirate, Ras Al Khaimah, Sunreef
CNN —The Taliban has welcomed Zhao Sheng as China’s new ambassador to Afghanistan during a lavish ceremony held at the presidential palace in Kabul on Wednesday. China is among a handful of countries, including Pakistan, Iran and Russia that have maintained a diplomatic presence in Afghanistan since the Taliban retook control of the country in 2021. In the palace ceremony, Taliban Prime Minister Mohammad Hasan Akhund shook hands with Zhao and “accepted the credentials of the new Chinese Ambassador,” the prime minister’s office said on X, formerly known as Twitter. China’s Ministry of Foreign Affairs said in a statement the appointment was the “normal rotation of China’s ambassador to Afghanistan” and was “intended to continue advancing dialogue and cooperation” between the two countries, according to Reuters. The ministry said, “China’s policy toward Afghanistan is clear and consistent.”CNN has reached out to China’s Ministry of Foreign Affairs.
Persons: Zhao Sheng, Mohammad Hasan Akhund, Zhao, , Mr Zhao Sheng, Zabiullah Mujahid, , Mujahid, Afghanistan ”, Qin Gang Organizations: CNN, Taliban, Honorable, China’s Ministry of Foreign Affairs, Reuters, Pakistan Economic Locations: Afghanistan, Kabul, Wednesday, China, Pakistan, Iran, Russia, China’s, Islamabad, Xinjiang
UAE lifts visa restrictions for Nigerians
  + stars: | 2023-09-11 | by ( Nimi Princewill | ) edition.cnn.com   time to read: +1 min
Abuja, Nigeria CNN —The United Arab Emirates has lifted a year-long visa ban imposed on Nigerian travelers, authorities in the West African country said Monday. The restriction placed by the UAE last October was lifted following negotiations between Nigeria’s new President Bola Tinubu and UAE leader Mohamed bin Zayed Al Nahyan. “Furthermore, by this historic agreement, both Etihad Airlines and Emirates Airlines are to immediately resume flight schedules into and out of Nigeria, without any further delay,” the statement added. Flights between both countries were stopped last year after Dubai’s Emirates airline suspended its operations in Nigeria citing trapped revenues. The UAE’s Dubai emirate has been a popular destination for Nigerian travelers for many years but visas to the West Africans and nationals of 19 other African states were halted last year for undisclosed reasons.
Persons: Bola Tinubu, Mohamed bin Zayed Al Nahyan, Bola Ahmed Tinubu, Ajuri Ngelale Organizations: Nigeria CNN —, United Arab, UAE, Etihad Airlines, Emirates Airlines, Dubai’s Emirates, West Locations: Abuja, Nigeria, United Arab Emirates, West, UAE, Abu Dhabi, Dubai
Trucks loaded with supplies to leave for Afghanistan are seen stranded at the Michni checkpost, after the main Pakistan-Afghan border crossing closed after clashes, in Torkham, Pakistan September 7, 2023. REUTERS/Fayaz Aziz/file photo Acquire Licensing RightsKABUL, Sept 10 (Reuters) - The Afghan Taliban criticised the closure of its main border crossing with Pakistan this week after clashes between security forces, saying the halt in trade would see heavy losses for businesses. The busy Torkham border crossing closed on Wednesday after Pakistani and Afghan Taliban forces started firing at each other, according to local officials. The statement said the incident had started after Pakistani security forces fired at Afghan Taliban forces fixing an old security outpost near the border. Disputes linked to the 2,600 km (1,615 mile) border have been a bone of contention between the neighbours for decades.
Persons: Fayaz Aziz, Mohammad Yunus Yawar, Charlotte Greenfield, Michael Perry Organizations: REUTERS, Rights, Afghan Taliban, Taliban administration's Ministry of Foreign Affairs, Thomson Locations: Afghanistan, Pakistan, Afghan, Torkham, Rights KABUL, Islamic Emirate
High-rise tower buildings along the central Sheikh Zayed Road in Dubai on July 3, 2023. Dubai's luxury home prices surged by nearly 50% in the year up until June, maintaining its top ranking for the eighth consecutive quarter, according to a new report by Knight Frank. According to data released Wednesday from the property consultancy firm, prices in Dubai have skyrocketed 225% since hitting a pandemic low during the third quarter of 2020. The Emirate kept its crown in the ranking for the eighth consecutive quarter. Taking second and third places were Tokyo, which saw an annual 26.2% rise, and Manila, which climbed 19.9%.
Persons: Knight Frank Locations: Dubai, Tokyo, Manila, Shanghai, Singapore
CNN —Taliban fighters have committed hundreds of extrajudicial killings since taking power in Afghanistan in 2021, despite a “general amnesty” meant to protect the previous government, according to the United Nations. International rights groups and bodies like the UN have accused the Taliban of unwinding progress in protecting human rights since seizing power. In interviews conducted with UN officials, individuals recounted beatings with pipes, cables, verbal threats and abuse at the hands of Taliban security force members. “Former government and security officials are entitled to the same human rights protections as all Afghans.”Turk, UN High Commissioner for Human Rights, called on the Taliban to punish offenders. “Afghans were able to regain their country, freedom, government and will,” Taliban deputy spokesperson Bilal Karimi previously told CNN.
Persons: , , Volker Turk, Abdul Khaliq, , Alia Azizi, hasn’t, UNAMA, ” Turk, Amir al, Hibatullah Akhundzada, Bilal Karimi, Roza Otunbayeva, ” Otunbayeva Organizations: CNN, Taliban, United Nations, United Nations Assistance, Afghan National Army, police, National Directorate of Security, UN, Human Rights, NATO, Taliban’s Locations: Afghanistan, Kabul, Herat, Emirate
REUTERS/Ali Khara/File Photo Acquire Licensing RightsAug 22 (Reuters) - More than 200 members of Afghanistan's former military, law enforcement and government have been killed since the Taliban took over, the U.N. mission in Afghanistan said on Tuesday, despite a "general amnesty" for old enemies. The mission said in a report it had recorded at least 218 extrajudicial killings with links to the Taliban from their takeover of Afghanistan in mid-2021 up to June. "In most instances, individuals were detained by de facto security forces, often briefly, before being killed," the U.N. Assistance Mission in Afghanistan (UNAMA) said. Senior Taliban leaders have said there is an amnesty for former government officials and members of the military by order of their supreme leader. In total, UNAMA had recorded 800 incidents of human rights violations connected with the Taliban against former government employees and military including arbitrary arrests, disappearance and torture.
Persons: Ali Khara, UNAMA, Charlotte Greenfield, Robert Birsel Organizations: REUTERS, Senior, Afghan National Defence and Security Forces, Thomson Locations: Emirate, Afghanistan, Kabul, Islamic Emirate
But she sank into depression since the Taliban closed tertiary institutions to women in December, requiring psychiatric treatment where she was recommended art therapy classes. But many women, particularly in urban areas, who gained opportunities in education and work during the 20-year presence of foreign troops and a Western-backed government are now struggling with a deep sense of despair and mental health challenges, Afghan women and mental health experts say. There are few reliable figures on mental health trends but anecdotally doctors and aid workers say more women are struggling with mental health in the wake of the orders restricting women's work and education. Not only did I make good friends here, I also receive art therapy," said a former university student at the class. Khushi said the art therapy gave her a respite from home and a little hope for the future.
Persons: Khushi, I'm, Charlotte Greenfield, Raju Gopalakrishnan Organizations: Health, Reuters, Thomson Locations: MAZAR, SHARIF, Afghanistan, Balkh province's, Islamic Emirate, Balkh's, Mazar
At least 16 people were killed and dozens more wounded on July 30 by a bomb blast at a political gathering of a radical Islamic party in northern Pakistan, police said. At least 55 people were killed and 135 were wounded in what one official said was a suicide attack. Jalil Jan, a spokesperson for the political party, told NBC News the death toll had risen to 55 and that some of the 135 injuries were critical. Party officials said Rehman was not in the rally. Rehman is considered to be a pro-Taliban cleric and his political party is part of the coalition government in Islamabad.
Persons: Farooq NAEEM, FAROOQ NAEEM, Nazir Khan, Maulana Fazlur Rehman, Khan, Jan, Azam Khan, Jalil Jan, Mohibullah Khan Yousufzai, Maulana Ziaullah, Abdur Rasheed, Maulana Jamaluddin, Rehman, Zabihullah Mujahid, Mujahid Organizations: Getty, Sunday, Senior, NBC News, Islam, NBC, Government, Islamic State Locations: Bajaur district, Pakistan, AFP, Bajur, Afghanistan, Khar, Peshawar, Islamabad, Islamic Emirate
The RTA is targeting the first of the two potential public share sales, in the Dubai Taxi Corporation, to take place around December or January, said the sources, declining to be named as the matter is not public. It has appointed Rothschild & Co to advise on a strategic review of its assets, which include its taxi and public parking businesses, Reuters reported on July 7, citing sources familiar with the matter. Dubai raised nearly $8.5 billion from five IPOs last year, fuelled by a government privatisation plan to list 10 state-linked companies to boost stock market activity. Companies in the region raised $21.9 billion through IPOs last year, more than half the total for the wider Europe, Middle East and Africa region, Dealogic data shows. Reporting by Hadeel Al Sayegh; Editing by Jan Harvey, John Stonestreet and Emma RumneyOur Standards: The Thomson Reuters Trust Principles.
Persons: Rothschild, Hadeel Al Sayegh, Jan Harvey, John Stonestreet, Emma Rumney Organizations: Transport Authority, Reuters, RTA, Dubai Taxi Corporation, Co, Nol, Dubai, Emirates, Companies, Thomson Locations: DUBAI, Dubai's, Dubai, Europe, Middle East, Africa
Al Ain, Abu Dhabi CNN —“Back! Al Ain Adventure ParkAl Ain Adventure Park has gained international recognition as a hub for sports professionals seeking to hone their skills in various disciplines. Al Ain Adventure ParkMaintaining a water park in the middle of a desert environment poses unique challenges that require meticulous upkeep and careful management. Al Ain Adventure Park reopened in December 2022 after a three-year hiatus caused by the coronavirus pandemic. Al Ain Adventure Park aims to offer a unique experience where action-packed water sports can coexist in the UAE’s harsh desert climate.
Persons: Al, ” Shrestha, , Shrestha, He’s Organizations: CNN, Abu Dhabi CNN, Al, Al Ain Adventure, International, Federation, Ain Adventure Locations: Al Ain, Abu Dhabi, Abu Dhabi’s Jebel Hafeet, Abu, Abu Dhabi’s, Nepal, Japan, India, UAE, Ain, Europe, Russia, Ras Al Khaimah
KUWAIT CITY, July 16 (Reuters) - Kuwait plans to establish a new sovereign fund to develop its local economy, spearhead mega projects, and attract funds from foreign investors and the private sector, according to a government plan seen by Reuters on Sunday. The government has tasked the Ministry of Finance and the Kuwait Investment Authority (KIA) with studying plans for the proposed fund, dubbed Ciyada, Arabic for sovereign, the document says. Ciyada Development Fund will be used to spearhead domestic investments, intended to fuel economic development and diversify Kuwait's economy, the document says. Ciyada would accelerate Kuwait's economic growth, promote transformation and progress in various fields of development, through strategic planning and implementation of major development projects, the document says. Abu Dhabi for instance in 2002 created Mubadala Development Co to diversify the emirate's economy and accelerate development.
Persons: Mubadala, Prince Mohammed Bin Salman's, Ahmed Hagagy, Hadeel Al Sayegh, David Holmes Organizations: KUWAIT CITY, Reuters, Sunday, Ministry of Finance, Kuwait Investment Authority, Ciyada, Kuwait Investment Office, Reserve Fund, Fund, Government, International Petroleum Investment Co, Mubadala, Saudi Arabia's Public Investment Fund, Thomson Locations: KUWAIT, Kuwait, Abu Dhabi
Dubai property prices surge at fastest pace since 2014
  + stars: | 2023-07-11 | by ( ) www.reuters.com   time to read: +1 min
DUBAI, July 11 (Reuters) - Dubai residential property prices in the year to June 30 rose at their fastest in almost a decade, climbing by 16.9%, while average rents jumped by 22.8%, property consultancy CBRE said on Tuesday. Its property market has boomed after a swift post-pandemic economic rebound and relaxed residency rules. In June 9,876 residential units were sold, up 18.8% from a year earlier, with off-plan sales jumping 44.9% while the secondary market's sales weakened by 0.5%, CBRE added. Average rent was up 22.8% in the year to June 30, slowing from the 24.2% growth recorded at the end of May. ($1 = 3.6729 UAE dirham)Reporting by Yousef Saba Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.
Persons: CBRE, Taimur Khan, Yousef Saba, David Goodman Organizations: Thomson Locations: DUBAI, Dubai, UAE
KABUL, July 11 (Reuters) - The Taliban administration said on Tuesday all activities by Sweden in Afghanistan must stop after the burning of the Koran outside a mosque in the Swedish capital last month. The order was likely to affect the Swedish non-governmental organisation, the Swedish Committee for Afghanistan, which has thousands of aid workers at work throughout the country in health, education and rural development. An Iraqi immigrant to Sweden burned the Koran outside a Stockholm mosque last month, causing outrage in the Muslim world. The Swedish Committee for Afghanistan did not immediately respond to a request for comment on the Taliban order. The Taliban administration did not provide details on which organisations would be affected.
Persons: Zabiullah Mujahid, Mohammad Yunus Yawar, Charlotte Greenfield, Raju Gopalakrishnan Organizations: Swedish Committee, United, Thomson Locations: KABUL, Sweden, Afghanistan, Swedish, Emirate, Iraqi, Stockholm
DUBAI, July 7 (Reuters) - Dubai's Roads and Transport Authority (RTA) has selected Rothschild & Co (ROTH.PA) to advise on the strategic review of its assets, two sources close to the matter said on Thursday. The transport regulator is considering an initial public offering of Dubai Taxi Corp and its public parking business, said the sources, who declined to be named as the matter is not public. The authority is expected to appoint Emirates NBD for the potential IPOs, two sources with knowledge of the matter said. Dubai raised nearly $8.5 billion from five IPOs last year, fuelled by a government privatisation plan to list 10 state-linked companies to boost stock market activity. The authority was also looking at potential options for its public parking assets and the Nol card, which passengers use to pay for public transport across the emirate.
Persons: Rothschild, Emirates NBD, Nol, Hadeel Al Sayegh, Yousef Saba, Jonathan Oatis, Josie Kao, Louise Heavens Organizations: Transport Authority, Co, Dubai Taxi Corp, RTA, Rothschild, Emirates, dnata, Reuters, Companies, Thomson Locations: DUBAI, Dubai's, Dubai, Europe, Middle East, Africa
June 27 (Reuters) - Over a thousand Afghan civilians were killed in bombings and other violence since foreign forces left and the Taliban took over in 2021, according to a report by the U.N.'s mission to Afghanistan released on Tuesday. Between Aug. 15 2021 and May this year 1,095 civilians were killed and 2,679 wounded, according to the U.N. Mission to Afghanistan (UNAMA), underscoring the security challenges even after the end of decades of war. Though armed fighting has fallen dramatically since the Taliban took over in August 2021 as the NATO-backed military collapsed, security challenges remain, particularly from the Islamic State. The militant group was responsible for the majority of attacks, according to the UNAMA, which also noted that the deadliness of attacks had escalated despite fewer violent incidents. Just over 1,700 casualties, including injuries, were attributed to explosive attacks claimed by Islamic State, according to UNAMA.
Persons: Charlotte Greenfield, Stephen Coates Organizations: Taliban, NATO, Islamic, Security, Thomson Locations: Afghanistan, Mission, Islamic State, Emirate
Gulf bourses end mixed on China growth concerns
  + stars: | 2023-06-20 | by ( Md Manzer Hussain | ) www.reuters.com   time to read: +2 min
China on Tuesday cut two benchmark lending rates by 10 basis points each. Dubai's benchmark index (.DFMGI) extended losses to a second straight session, ending 0.3% lower. Saudi Arabia's benchmark index (.TASI) inched up 0.1%, with Dr Sulaiman Al-Habib Medical Services (4013.SE) rising 0.7% and Company for Cooperative Insurance (8010.SE) climbing 2.3%. "Oil prices remained volatile as Chinese economic recovery continues to fuel concerns among traders, affecting oil demand expectations," said Daniel Takieddine, CEO MENA at BDSwiss. Outside the Gulf, Egypt's blue-chip index (.EGX30) fell 0.4%, extending previous session losses with financial and materials sectors trading in the red.
Persons: Dr Sulaiman Al, Daniel Takieddine, Brent, Md Manzer Hussain, Eileen Soreng Organizations: Emaar, Emirates Central Cooling Systems, Emirates, Qatar National Bank, Ezdan, Habib Medical Services, Company, Cooperative Insurance, Jamjoom Pharmaceuticals, Alpha, Commercial International Bank, Ezz, Thomson Locations: Dubai, Qatar, Saudi, Abu Dhabi, China, Beijing, Alpha Dhabi, Burjeel
REUTERS/Ali Khara/File photoJune 16 (Reuters) - The Taliban's acting governor of the Afghan central bank met China's ambassador this week to discuss banking relations and business, the bank's spokesperson told Reuters on Friday. Afghanistan's banking system has been severely hampered by U.S.-led sanctions, a drop in liquidity from frozen central bank assets and a cut in development spending. Regulatory risk concerns of international banks have also largely cut off the country's formal banking sector from the global financial system. "China has always supported the peaceful reconstruction of Afghanistan, provides sincere help to Afghanistan, and welcomes Afghanistan to join the Belt and Road Initiative," it said. Badri is a senior Taliban figure who became acting head of the central bank in March after stepping down as acting finance minister.
Persons: Mullah Abdul Ghani Baradar, Wang Yu, Ali Khara, Hassibullah Noori, Mullah Hidayatullah Badri, Badri, Charlotte Greenfield, Laurie Chen, Raju Gopalakrishnan, Frances Kerry Organizations: Afghan, REUTERS, U.S, Reuters, Initiative, Thomson Locations: China, Islamic Emirate, Afghanistan, Kabul, Afghan, Beijing, Taliban, Islamabad
DUBAI, June 15 (Reuters) - Abu Dhabi's artificial intelligence firm G42 and Israeli technology investment company Viola Group, which manages $5 billion in assets, on Thursday announced Global Valley, a joint venture to set up a new platform to meet demand for high-skilled tech talent. Based in the UAE capital, Global Valley will employ specialised tech-focused workers from around the world providing a variety of services, as well as help develop Abu Dhabi's local tech sector, a statement from the Abu Dhabi Investment Office, which provided support for the project, said. No figure for the value of the investments by any of the involved parties was provided in the statement. ADIO is a government vehicle tasked with expanding private sector investment into the emirate and helping diversify its economy. We are looking to diversify Abu Dhabi's economy, we want and are developing further platforms for growth.
Persons: Abu, Abdulla Abdul Aziz AlShamsi, Shamsi, Abraham, Rachna, Jason Neely Organizations: Viola Group, Abu Dhabi Investment Office, Tech, Reuters, Trade, UAE, Thomson Locations: DUBAI, UAE, Global, Abu Dhabi, Abu, Israel
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