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Bloomberg Rivian Automotive Inc., the electric-truck startup backed by Amazon.com Inc. and Ford Motor Co., is close to raising a new round of funding valuing it at about $25 billion, according to people familiar with the matter. Several existing Rivian investors are participating in the round, which will raise several billion dollars. Existing investors in company include Amazon, T. Rowe ...

Bloomberg Equifax Inc. agreed to acquire Kount Inc., which offers fraud protection for e-commerce retailers, for $640 million. The transaction is expected to close in the first quarter, Atlanta-based Equifax said in a statement Friday. Kount’s employees will continue to be based in Boise, Idaho, and will report to Equifax’s US information-solutions unit. The credit-reporting firm has been building out ...

Bloomberg Samsung Electronics Co. shares rise 7.1% to a record high in Seoul amid signs of a rebound in the memory-chip market and off the back of a surge in earnings. South Korea’s biggest company posted a 26% increase in operating income to 9 trillion won ($8.3 billion) for the three months ended December in preliminary results. That compares with ...

DUBAI / WAM Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has launched an economic stimulus package worth AED315 million. The new package raises the value of business incentives ...

BAHRAIN / WAM Investcorp, a Bahrain-based asset manager that counts Mubadala Investment Company as its biggest shareholder, announced on Wednesday that its portfolio company, Impero, a provider of online student safety and classroom and network management software, has acquired Netop, an international software solutions provider to the education sector and corporates, from Consolidated Holdings A/S. Terms of the transaction were ...

ABU DHABI / WAM The National Central Cooling Company (Tabreed) has announced the signing of an agreement with Miral to provide district cooling services to SeaWorld Abu Dhabi, a first-of-its-kind marine life theme park being developed by Miral on Yas Island. Tabreed will connect the new SeaWorld Abu Dhabi development to its existing Yas Island district cooling scheme and will ...

JEDDAH / WAM The Organisation of Islamic Cooperation (OIC) has welcomed the signing of Al Ula Declaration by the leaders of the GCC member states at the 41st GCC Summit which took place in Al Ula Governorate, Saudi Arabia. The OIC’s Secretary-General Dr Yousef bin Ahmad Al Othaimeen praised the efforts of the GCC’s leaders.

DUBAI / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (Dewa) has visited the hydroelectric power station in Hatta to review work progress of the project, which is the first of its kind in the GCC region. According to Dewa, the 250MW station will generate electricity by making use of the water stored in ...

Abu Dhabi / WAM Mubadala Investment Company, Abu Dhabi’s strategic investment vehicle, announced on Wednesday it will bring together six of its wholly-owned medical assets in the United Arab Emirates into an integrated network to serve patients seeking specialised care. Mubadala Health, the integrated healthcare network is focused on enhancing the patient experience, seeking innovative solutions, driving collaboration across the ...

SHARJAH / WAM Sharjah National Oil Corporation (SNOC) has announced the start-up of its new gas storage project. This follows a small-scale pilot phase using existing infrastructure that has been running since early 2017. The first gas was introduced to the project on January 1 following a turbulent year and marking a new era for SNOC. The project was completed ...