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Elon Musk’s $44 billion Twitter acquisition is allegedly being investigated by the US Federal Trade Commission (FTC) for possible antitrust violations. Musk must inform the FTC and the Justice Department of the purchase and wait at least 30 days before closing to allow for an examination into any antitrust problems, according to US merger legislation. […]
Prime Minister Justin Trudeau of Canada announced a major federal investment in Stellantis’ project funding, which will modernize assembly plants and boost electric car production (EV). By 2035, the Canadian government plans to have 100% of new light-duty vehicle sales be zero-emission vehicles (ZEVs). By 2050, the government wants to reduce carbon emissions to zero. Stellantis […]
With the opening of its Metaverse HQ in the dynamic virtual world of ‘The Sandbox,’ Dubai’s Virtual Assets Regulatory Authority (VARA) announced its entry into the Metaverse this Tuesday. VARA was created to provide a scalable operating framework for the virtual asset industry while also protecting market participants and investors. It intends to control the […]
The construction of the first Waste-to-Energy facility is completed in Sharjah, UAE. The project, Emirates Waste to Energy Company, is a joint venture between Masdar and Bee’ah, the Middle East’s leading, award-winning environmental management company. With the signing of the Joint Development Agreement at ADSW 2017, Bee’ah and Masdar officially declared their relationship. The project […]
Due to a persistent shortage of chips and other essential ingredients, some of the world’s largest tech and automotive businesses have had to reduce their goals for this year. Last year, roughly 540 metric tons of neon were consumed globally, primarily in semiconductor fabrication. Ingas and Cryoin, two Ukrainian enterprises, produce 45% to 54% of […]
Vy Capital and Sequoia Capital led a $675 million fundraising round for Elon Musk’s tunneling business Boring Co. According to a press release issued on Wednesday, the round values the firm at $5.675 billion. The round also included Valor Equity Partners, Founders Fund, 8VC, Craft Ventures, and DFJ Growth. The Boring Company (TBC) was founded […]
Netflix announced on Tuesday that it lost 200,000 paid customers in the first quarter, the first drop in over a decade, and warned of more difficulty coming. Netflix expects a 2 million paying subscriber drop in the second quarter globally. October 2011 was the last time Netflix lost subscribers. Following the revelation, the company’s stock […]
Emirates Airlines already has the first initiatives in the works. A launch is scheduled in the coming months, as part of its focus on expanding its digital reach. In the Metaverse, enthusiasts will be able to obtain collector and utility-based NFTs, as well as a variety of other experiences. Emirates is investing $10 million into […]
Amazon announced on April 5, 2022, a vast set of launch contracts with three launch providers – Arianespace, Blue Origin, and United Launch Alliance (ULA). The contract is to deploy its 3,236-satellite broadband mega constellation at 630 – 590 km from the surface of the earth. The plan is to have a total of 83 […]
Dubai’s government authorities are now mandated by law to provide digital services to their citizens. Law No. (9) of 2022 was issued by His Highness, the Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the United Arab Emirates. The law aims at bolstering the emirate’s digital transformation, […]
The global security software company McAfee announced that it will be acquired by a group of investors for over $14 Billion. The group is led by Permira Advisers LLC (“Permira”), Advent International Corporation (“Advent”), Canada Pension Plan Investment Board (“CPP Investments”), Crosspoint Capital Partners (“Crosspoint Capital”), GIC Private Limited (“GIC”) and Abu Dhabi Investment Authority […]
The social media giant Facebook has announced that it has changed its name to Meta, it said that it would better “encompass” what it does, as it broadens its reach beyond social media into areas like virtual reality (VR). The change applies only to the parent company that owns Facebook, Instagram and Whatsapp, this move […]
