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Saudi Aramco becomes world’s most valuable stock as Apple drops

Earlier this year, Apple boasted a market value of $3tn, about $1tn more than Aramco’s

Cover story: Dubai-based lawyer Shai Zamanian on how he is helping people migrate to the US

Zamanian aims to support families worldwide via immigration to the US. Here’s how he is bringing his goal to fruition

OPEC+ warns of response as Biden poised for oil reserve release

The Organization of Petroleum Exporting Countries and its allies will meet on December 2

New Arcapita venture to invest $2bn in US warehouses

The goal is to grow the portfolio to as much as $2bn in gross asset value across the top 25 US industrial markets

GlobalFoundries, Mubadala raise $2.6bn in top-of-range IPO

The listing is the third biggest on a US exchange this year

The US replaces China as world’s biggest Bitcoin miner

At the end of August, America accounted for 35.4 per cent of the global hash rate

Biden resists Afghan deadline pressure but seeks backup options

Biden promised his administration would spell out on Wednesday how many Americans remain in Afghanistan

Oil holds decline as investors track delta’s spread across China

West Texas Intermediate was slightly higher after slumping 3.6 per cent on Monday

Haiti president Jovenel Moise

Haiti’s President Moise assassinated in night attack on his home

First Lady Martine Moise was injured and is in the hospital

US issues new UAE travel advisory

The CDC issued a Level 4 Travel health notice for the UAE on Monday

Dubai investment firm FIM Partners considers raising SPAC

EFG Hermes agreed to buy a stake in FIM Partners in 2017

Johnson & Johnson Vaccine Administered At Colorado Fire Department

US recommends pausing J&J vaccinations on clotting concern

As of April 12, more than 6.8 million doses of the vaccine have been administered

Oil steady near $59 as Fed’s Powell points to economic growth

Futures in New York traded near $59 a barrel after dropping 3.5 per cent last week

Mubadala discusses GlobalFoundries IPO at $20bn value

Technology companies have already raised $20bn in US IPOs this year

Biden reverses Trump travel ban, halts wall construction

The new president issued a proclamation ordering a stop to construction of Trump’s wall along the border with Mexico

UAE issues advisory to citizens in US

The embassy advised its citizens to abide by the curfew decision

Oil extends gains on signs OPEC+ edging toward keeping cuts

The producer group is considering keeping additional supply off the market for three to six months

Bahrain’s Investcorp sells eight US properties for over $900m

The properties were garden and townhome-style apartment buildings located in major metropolitan areas

In pictures: First passengers make maiden voyage in hyperloop pod to mark testing milestone

Josh Giegel, co-founder and chief technology officer, and Sara Luchian, director of passenger experience, were the first people to ride

US election update: Biden’s tightest path may run through Nevada

Democratic nominee Joe Biden needs a win in one more state provided that other race calls stand

Dubai’s Amanat invests in US-based edtech firm BEGiN

The acquisition is Amanat’s first ever venture capital investment

Oil holds losses near $40 amid deteriorating demand outlook

Prices jumped 10 per cent last week after Saudi Arabia indicated it would defend the market

Abu Dhabi takes $615m stake in US LNG exporter

Houston-based Cheniere operates two export facilities: Corpus Christi in Texas and Sabine Pass in Louisiana

UAE, Bahrain sign historic peace accord with Israel in the US

According to the Abraham Accord signed on September 15, Israel will cease further annexation of Palestinian territories

US Secretary of State Mike Pompeo arrives in UAE

His visit to the UAE forms part of a broader Middle East tour

Apple makes Wall Street history by breaking $2 trillion barrier

The company has been buoyed by the broad adoption of mobile internet-connected devices, apps and other cloud services

Jim Hackett and Jim Farley Ford

Ford appoints Jim Farley to replace Jim Hackett as new CEO

Jim Farley will join the board of directors from October 1

Brooks Brothers

Menswear major and America’s oldest retailer, Brooks Brothers, goes bankrupt

The company listed assets and liabilities of at least $500m each in court papers

Saudi oil exports to US plunge to lowest level in 35 years

The kingdom has exported just one cargo to the US so far in June, equivalent to about 133,000 barrels a day

facial-recognition-faces

Amazon suspends use of facial recognition technology by US law enforcement for a year

Amazon said that the reason was to give the US Congress time to develop stronger regulations to govern the use of the technology