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Abu Dhabi / WAM The Technology Innovation Institute (TII), the dedicated “applied research” pillar of Abu Dhabi’s Advanced Technology Research Council (ATRC), and Virgin Hyperloop (VH), on Tuesday announced their collaboration on research, innovation and localisation of the futuristic transportation method. The agreement was signed by Faisal Al Bannai, Secretary-General of the ATRC, and Sultan Bin Sulayem, Group Chairman and ...

Bloomberg The European market for initial public offerings (IPOs) raised more money than in 2019, defying the coronavirus crisis and nail-biting Brexit negotiations this year, led by firms that benefited from pandemic-induced lockdowns. European exchanges hosted 161 IPOs and counting, worth a combined $28.3 billion, surpassing the $26.7 billion raised over 136 listings in 2019, according to data compiled by ...

Bloomberg The Swiss economy will shrink this quarter and recover less quickly than previously expected in 2021 as renewed restrictions to stem the spread of Covid-19 pandemic in Europe and elsewhere weigh on global momentum. Switzerland’s State Secretariat for Economic Affairs sees gross domestic product (GDP) expanding 3.2% next year, slower than the 4.2% previously forecast. It said the situation is ...

Bloomberg Workplace productivity software startup ClickUp was valued at $1 billion in a $100 million investment, roughly five times its valuation in a funding round earlier this year. The new round was led by Georgian, a Canadian venture capital firm, with participation from Craft Ventures, which had invested earlier, too. San Diego-based ClickUp is one of several workplace software companies ...

Bloomberg UK job cuts jumped to the highest on record in the three months through October, raising more questions over Chancellor of the Exchequer Rishi Sunak’s refusal to extend job support programs until hours before they expired. Redundancies increased by a record 217,000 in the period, the Office for National Statistics said Tuesday. The number of people on payrolls was ...

Bloomberg Services from Alphabet Inc.’s Google experienced widespread outages around the world, temporarily preventing people from accessing Gmail, YouTube and other products. Errors ranged from a notice that “something went wrong” on YouTube, to “there was an error. Please try again later,” when attempting to log into the company’s mail product in New York. Google tools were failing to load ...

Bloomberg New York is headed towards a second full shutdown if Covid-19 cases and hospitalisations continue at their current pace, Governor Andrew Cuomo said. “If we do not change the trajectory, we could very well be headed to shut down” all non-essential businesses, Cuomo said at a virus briefing. The state reported 5,712 hospitalisations, an increase of more than 1,000 ...

ABU DHABI / WAM In a cabinet meeting, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved the formation of the National Human Rights Authority that aims to establish the country’s status in persevering human rights on regional and global spheres. The meeting, which took place in Abu ...

Bloomberg Oil came off session highs as the Organisation of Petroleum Exporting Countries (Opec) cut forecasts for oil demand again, pointing to uncertainties around the pandemic and the rollout of vaccines. Futures were little changed after rising as much as 1.9% in New York. The Opec in a monthly report reduced projections for global fuel consumption in the first quarter ...

BAHRAIN / WAM Bahrain’s Investcorp on Monday announced that it has acquired Sanos Group, a leading provider of specialised clinical trial services to the global pharmaceutical and biotechnology industry. Based in Denmark, Sanos is a global Contract Research Organisation (CRO) providing value-added services to pharma, biotech and research organisations to help plan and conduct clinical trials, a critical part in ...