ABU DHABI / WAM Hub71, Abu Dhabi’s global tech ecosystem, has launched a partnership with Asia-Pacific based venture capital firm Investible, to support the growth of tech startups and early-stage companies in Abu Dhabi. Founders at Hub71 will benefit from access to Investible’s Early-Stage Funds, valued at approximately AUS$180 million funds under management collectively. Hub71 startups will also gain access ...

BLOOMBERG South Africa’s state power utility will miss a target to boost output from struggling coal-fired plants by the end of March, highlighting the poor state of equipment whose viability is being reviewed by German energy consultants. Eskom Holdings SOC Ltd., which is subjecting South Africa to its worst-ever electricity outages, told lawmakers in January it planned to increase production ...

BLOOMBERG China granted a key ministry new powers and created a bureau to oversee increasingly valuable data, shaking up oversight of its vast technology arena as Xi Jinping’s administration battles the US in areas from AI to semiconductors. The moves — part of a broader overhaul of official bodies to further consolidate Xi’s hold over the world’s second-largest economy — ...

BLOOMBERG Reliance Industries Ltd has tapped a top executive from McLaren Strategic Ventures as CEO for its newly-created financial services unit that is preparing for a listing in India, according to people familiar with the matter. Hitesh Sethia is due to join Jio Financial Services Ltd as its CEO and managing director, said the people, who asked not to be ...

BLOOMBERG Salaries for software engineers in Singapore rose by an average of 7.6% last year, with pay increases falling short of rent hikes after technology companies worldwide slashed jobs. Even as the increase slowed from a 22% surge a year earlier, the city-state’s tech salaries stand out among countries in South and Southeast Asia, according  to a report published by ...

BLOOMBERG Philippines’ core inflation bolted to the fastest pace in 24 years, a print that will likely convince policymakers to retain their tightening bias even as the headline measure slowed. The core gauge, which strips volatile food and energy costs, rose 7.8% in February from a year ago, quickening from 7.4% the prior month and clocking in the fastest increase ...

ABU DHABI / GULF TIME  Q Holding and ORA Real Estate Development Group signed a partnership agreement to develop a smart and sustainable city in the Ghantoot region of Abu Dhabi, UAE. The integrated city will span over 20 million square meters and will provide the community with residential, hotel, cultural, commercial, sporting and recreational services, all with a focus ...

BLOOMBERG The US Justice Department and Department of Transportation were expected to take action as soon as Tuesday to block JetBlue Airways Corp’s $3.8 billion takeover of Spirit Airlines Inc, according to people familiar with the case. The Justice Department is expected to file an antitrust lawsuit in federal court, alleging that the elimination of Spirit would increase ticket prices ...

BLOOMBERG Brazil’s battered airlines got some relief after striking agreements that eased investors’ concern over their liquidity amid deteriorating credit conditions in their home market. Azul SA’s American depositary receipts closed 41% higher at $5.85 in New York, the most on record, and bonds due in 2026 climbed 16 cents to 67.5 cents on the dollar. The moves follow an ...

BLOOMBERG KLM NV and several other airlines are going to court to challenge the Dutch government’s decision to reduce flight capacity at Amsterdam’s Schiphol airport. Delta Air Lines Inc and EasyJet Plc are among airlines joining forces with the Dutch arm of Air France-KLM, which accounts for close to 60% of traffic at Schiphol, to “safeguard the future capacity” of ...