BUSINESS

UAE's Deal-hungry IHC Plans Health And IT Business IPOs

Abu Dhabi Grand Prix
International Holding Company plans to sell 20% of its technology unit in an initial public offering next year, its CEO told Reuters, adding that the UAE's IHC is aiming for a first quarter IPO of Pure Health to raise more than $1 billion.
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Israeli billionaire Idan Ofer, owner of the shipping firm which operates the tanker Pacific Zircon that was hit by a projectile off the coast of Oman that Israel has blamed on Iran, is seen here in 2010

Israel, US Blame Iran As 'Drone Strike' Hits Tanker Off Oman

The Pacific Zircon was "hit by a projectile approximately 150 miles off the coast of Oman" on Tuesday, Singapore-based firm Eastern Pacific Shipping which operates the vessel said in a statement, adding that there were no reports of casualties or any leakage of the cargo.
Illustration shows words stock graph and representation of cryptocurrencies

Explainer-What's Next In FTX's Bankruptcy

Crypto exchange FTX filed for Chapter 11 bankruptcy protection in the United States on Friday following its precipitous collapse, saying it could owe money to more than 1 million creditors.
Oil tankers container ships

Iran Releases Two Greek Tankers Seized In May

Iran has released two Greek-flagged tankers that it seized in the Gulf in May, the Greek shipping ministry said on Wednesday, ending a months-long diplomatic impasse which has strained relations between Athens and Tehran.
Investment guru Warren Buffett's Berkshire Hathaway confirmed it has bout close to $5 billion American Depository Receipts in TSMC

Chip Giant TSMC Shares Surge On Buffett Stake

Shares in Taiwan's TSMC soared on Tuesday after Warren Buffett's Berkshire Hathaway confirmed it had taken a close to $5 billion stake in a major boost of confidence for the semiconductor giant.
Senegal's President Macky Sall, seen here at the COP27 climate conference in Egypt on November 8, said he wanted 'a just and fair green transition'

Western Thirst For African Gas Raises Alarm At COP27

European countries have been scrambling for alternative sources of gas after the continent's former top supplier, Russia, slashed exports in apparent retaliation for Western sanctions over Moscow's invasion of Ukraine in February.

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