Plus (formerly Plus.ai), a leading provider of self-driving truck technology, announced it has added $220 million in new financing co-led by FountainVest Partners and ClearVue Partners, with participation from Quanta Computer Inc., Phi Zoyi Capital, and Millennium Technology Value Partners. The company’s existing investors including Sequoia Capital China, SAIC Capital, and Full Truck Alliance (FTA) also participated. This investment is an extension of the $200 million round announced last month, which was led by CPE and Guotai Junan International.The additional funds will enable Plus to further expand its global operations and commercial deployment plans across the U.S., China, Europe and…
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ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC), announced the acquisition of two additional Very Large Crude Carriers (VLCC), bringing the total number of VLCCs added to its fleet in 2021 to eight. The VLCC fleet expansion plays a significant role in supporting ICE Murban Futures, which is expected to boost trading of the UAE’s flagship Murban crude oil, enabling it to reach new customers and markets around the globe. The launch of Murban Futures contracts will also allow ADNOC L&S to further improve its vessel capacity utilization in…
La Lu gourmet chocolates, delightfully delicious creations fashioned from the finest ingredients in Italy intended to satiate the most discerning of tastes, luxuriously smooth in finish and ultra-refined in texture, crafted into a fascinating array of products is now available in the Middle East in time for the holy month of Ramadan. The chocolates can be ordered online from the company’s website. A passion for all things chocolate is what drives the inspiration behind each of La Lu gourmet Foods’ products. Designed by the finest Italian master chocolatiers, to offer chocolate lovers and those with a yen for the finest confectioneries,…
Cleveland Clinic Abu Dhabi has carried out UAE’s first deep brain stimulation operations saving the lives of four Emirati nationals from Parkinson’s disease. The surgeries, which each lasted between four and eight hours, took place over just four days following comprehensive evaluations to ensure the patients were good candidates for the surgery. The complex surgery can significantly reduce the symptoms patients experience, reducing their need for medication and improving their quality of life. The electrodes are controlled by a small device implanted under the patient’s skin.During the surgery, neurosurgeons implant electrodes into precise areas of the brain to block rogue…
Results from TransLink’s industry-leading trial show that copper is effective at killing bacteria on high-touch transit surfaces. Based on sample-testing performed on transit and in a lab, the trial concludes that select copper products on transit are durable and kill up to 99.9 per cent of all bacteria within one hour of the bacteria’s contact with the surface.Phase one of the pilot, which was fully funded by Teck Resources Limited, began in November 2020 and lasted five weeks on two buses and two SkyTrain cars. To expand on phase one’s results, a second phase will be launched in the coming…
For the first time in three years, the Central Bank of the UAE sold gold bullions worth AED1.7 billion in January 2021, bringing its gold reserve down to AED11.17 billion from a record high of AED12.86 billion in December 2020. The move came to capitalize on the near-record prices hit by the precious metal in world markets, in a bid to soften the impact of global economic challenges.Statistics issued by the apex bank showed that its reserves of gold grew exponentially since 2015, which is the year when it decided to resume its reserves of gold and foreign currencies, most…
DMCC – the flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has entered into a memorandum of understanding (MoU) with the Securities and Commodities Authority (SCA) to establish a regulatory framework for businesses offering, issuing, listing, and trading crypto assets in DMCC. The agreement will see businesses dealing with crypto assets gain access to bespoke licenses offered by the DMCC Crypto Centre, first-class customer service, a range of incentives, and the strong business regulatory framework developed by DMCC.Working closely with DMCC’s on-boarding teams, the SCA will issue approvals for crypto-related businesses looking to set…
Giatec, world leader in concrete testing technologies, has announced the release of the SmartBooster. This intuitive device extends the range of users’ smartphones’ Bluetooth signal, making it possible to connect to the company’s award-winning SmartRock® wireless concrete sensors from up to 50% further away. This makes it easier and safer for contractors to collect concrete data.A smartphone is designed to only communicate with devices in close proximity. With the SmartBooster device and an extended Bluetooth signal, real-time data from multiple SmartRock sensors across a user’s jobsite are automatically collected. This provides contractors and project managers constant access to data and…
The talented team of watchmakers and designers at OLTO-8 just launched a unique mechanical watch for those who seek individuality and bold style. The motorsport inspired Infinity II watch boasts superb craftsmanship, precise timekeeping and iconic design. This stunning new watch has caught the attention of watch enthusiasts and style influencers and is now available on Kickstarter.Motorsports and watchmaking have always enjoyed a close relationship. Both endeavors demand high performance, cutting-edge technology, and a commitment to excellence. The Infinity II watch is a testament to those qualities. It’s an impressive combination of mechanical perfection and timeless style.Infinity II is an…
The Ministry of Presidential Affairs has expressed its condolences on the death of His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, who passed away on Wednesday, 24th March 2021. In a statement, President His Highness Sheikh Khalifa bin Zayed Al Nahyan expressed his sincere condolences and sympathies to Al Maktoum family, asking Allah Almighty to grant them patience and solace to bear their loss. The UAE President has announced a three-day mourning period and ordered that the UAE national flag be flown at half-mast starting today (Wednesday) and be raised next Saturday, 27th…