Uber to invest $300m in Lucid amid plans to launch over 20,000 robotaxis in cities around the world
Americas
Latest in Americas
Bahrain
Bahrain announces $17bn investment package during White House meeting with Donald Trump
Prince Salman bin Hamad Al Khalifa met with US President Donald Trump to reinforce Bahrain-US ties, announce a $17bn investment boost
Ministry of Interior
UAE-led operation dismantles Amazon crime rings and seizes $64m in illicit assets
UAE-led operations lead to 94 arrests, $64m asset seizures, rescue of thousands of animals and gold mining gang disruption
Public Investment Fund (PIF)
PIF reportedly looking at two-thirds stake in prime Manhattan tower
The 1,200-foot tower, being developed by Related Company, is at 625 Madison Avenue, located just one block away from the Central Park
Democratic party
Zohran Mamdani secures democratic nomination for New York City mayor
The South Asian Muslim assembly member—known for his firm policy platform and progressive stance—has gained national attention as he secures the Democratic nomination for New York City’s next mayor
Donald Trump
Trump ‘very happy’ with China trade deal, says framework ‘done’
Though subject to final approval, the deal involves China supplying rare earths and magnets to U.S. companies while the United States would abandon threats to revoke visas for Chinese students
Aviation
Emirates, Bahamasair partner to launch Caribbean connectivity via Florida gateways
Emirates’ customers will enjoy baggage allowance when flying on Bahamasair to the three destinations
Aviation
Trump’s Middle East visit brings an order windfall for Boeing in May
With orders for 303 aircraft, it was the best month since December 2023; It includes a 160-aircraft order from Qatar Airways and 28 from Etihad
Canada
Saudi Crown Prince bin Salman invited to attend G7 meeting in Canada
Saudi embassy yet to confirm his attendance; Invitations to the Crown Prince and Indian PM Modi show a change in Canada’s diplomatic thinking
Donald Trump
President Trump imposes ban on 12 countries from travel to the US
Seven more countries face heightened restrictions; A few categories, including elite athletes and dual citizens, exempted from Trump’s US travel ban
Five Holdings
Dubai’s FIVE Holdings mulls IPO and listing in London or New York: Report
Founder and Chairman Kabir Mulchandani has always looked at Dubai for primary listing, but a Reuters report says it could be an international exchange
Bahrain
Investcorp exits 12 US residential multiple-occupancy assets
Exit was secured at a premium at a combined value of approximately $550 million; Assets were spread across five states
Donald Trump
Dollar, stocks and oil rally as US court deems Trump’s tariffs illegal
Markets worldwide heave a sigh of relief after the Court of International Trade ruled the US President has overstepped his authority
Donald Trump
Elon Musk announces Trump administration exit, says scheduled time ‘comes to an end’
Musk’s 130-day mandate as a special government employee in the Trump administration was set to expire around May 30
AI chatbot
Musk’s xAI to use Dubai-based Telegram to roll out its Grok chatbot
One-year deal, yet to be formalised, will see xAI paying Telegram $300mn and equity, and a share of revenue on subscriptions sold
Abu Dhabi National Energy Company
TAQA keen on ‘key’ US market as it explores acquisition opportunities
Group CEO Jasim Husain Thabet says he’d prefer to acquire a fully integrated company with generation, networks and a pipeline of growth
Donald Trump
Trump administration orders US to halt student visa interviews for foreigners
US embassies around the world told to put immediate halt to visa interviews for foreign students