Mubadala-backed satellite launching firm Virgin Orbit to go public via SPAC merger – GCC Business News — www.gccbusinessnews.com
Highlights:
– Virgin Orbit will merge with NextGen Acquisition Corp. II, a SPAC that holds $383 million in the capital, which is expected to close by the end of 2021.
– The deal would give Virgin Orbit up to $483 million in capital, depending on how many shares in NextGen are redeemed by shareholders.
– The funds will go toward scaling up the manufacturing of the startup’s LauncherOne rocket and to support the expansion of its “space solutions business” and new product development initiatives, the company said.
– The companies expect the deal to close by the end of the year.
– The space economy is developing rapidly and Virgin Orbit is well-positioned to benefit through its ability to competitively launch at any time, from any place on Earth to any orbit and inclination.
– The company’s most recent successful launch, conducted on June 30, precisely delivered satellites for commercial and national security customers.
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Highlights:
– But there are other business lines which essentially are one-man – or one-woman – operations. And they require different sorts of licenses.
– On Monday, Abu Dhabi’s Masdar City announced its intentions loud and clear by launching three business license packages, with the least costly one set at Dh1,000.
– For Package A, the registered business owner can club two activities under that single license and only have to pay Dh1,000 to get started. But this does not come with a visa.
– Jurisdictions such as DIFC and Abu Dhabi Global Market (ADGM) are now the go-to places for fintech ventures, whether it is someone offering ‘open banking’ solutions or a consumer-focussed buy now, pay later’ portal.
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Living at AlJurf
Find Out More About Living at AlJurf
AlJurf Gardens harnesses nature’s raw beauty and combines it with refined heritage-inspired architecture and contemporary design to present a sanctuary of wellness and calm.
Throughout the villa spaces, the refined and controlled raw beauty of nature is repeated in different scales, to showcase its exquisiteness across every typology of homes, gardens and courtyards.
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China Eyes Afghanistan’s $1 Trillion of Minerals With Risky Bet on Taliban — www.bloomberg.com
Highlights:
– Afghanistan is sitting on deposits estimated to be worth $1 trillion or more, including what may be the world’s largest lithium reserves — if anyone can get them out of the ground. Four decades of war — first with the Soviet Union, then between warring tribes, then with the U.S. — prevented that from happening.
– Afghanistan, in turn, has what China most prizes: opportunities in infrastructure and industry building — areas in which China’s capabilities are arguably unmatched — and access to $1 trillion in untapped mineral deposits.”
– The U.S. maintains sanctions on the Taliban as an entity, and it can veto any moves by China and Russia to ease United Nations Security Council restrictions on the militant group.
– Leaders of the militant group have said they want good international relations, particularly with China.
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Letter Requesting Donation for School
Our school “Lady of the Tower School for the Sisters of the Holy Family” is located in Bekaa- Lebanon in the district of Deir El Ahmar. — atiejelmouallem.com
Its ultimate goal is our children’s spiritual and educational lives.
From 1932 till now, our school still taking care of poor children, but due to the economic circumstances in Lebanon in general, and in our school in particular, we require your generous attention in the form of donations.
Your donation and help can bring a smile to thousands of faces by helping them to achieve a good life and to continue their learning in our school.
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Global Coffee Supply Dealt Fresh Blow by Vietnam’s Virus Curbs – Bloomberg — www.bloomberg.com
Highlights:
– World coffee supplies are suffering a fresh setback from stringent travel curbs imposed in the second-biggest grower Vietnam.
– Global coffee prices have been on a tear amid mounting threats to supplies from South America to Asia. Drought and frost ravaged crops this year in top grower Brazil, which produces the premium arabica variety, adding to the widespread logistics issues in Vietnam and Indonesia.
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Hottest Hedge Funds 2021: FIFTHDELTA, Brevan Howard Demand Show Hedging Is Back – Bloomberg
Highlights:
– Across the industry, a record 1,144 hedge funds have stopped accepting new money, the most since data tracker Preqin started compiling the information.
– Crucially, those closures are happening at some of the biggest and sought-after firms.
– The reality is the best performers are dictating terms,” Ivan Iliev, head of alternative funds at Julius Baer, said in an interview.
– Of course, only a small fraction of the 8,000 or so hedge funds globally are in a position to be demanding.
– As a group, hedge funds are off to their best start since 1999 after posting their biggest gains in a decade in 2020. Industry-wide assets, which had stagnated for years, surged past $4 trillion, according to data compiled by Preqin.
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Michael Burry’s Pretty Big Short Hinges on Treasuries Sinking – Bloomberg — www.bloomberg.com
Highlights:
– His Scion Asset Management held $280 million of puts on the iShares 20+ Year Treasury Bond ETF at the end of June, according to a regulatory filing released this week, an increase from $172 million three months earlier.
– The options contracts would make money if TLT, as the exchange-traded fund is known, falls as Treasury yields go up — something that hasn’t happened lately as fear of the delta variant drives investors into Treasuries.
– Every aspect of the economic data we look at, from the labour markets to inflation, are all tending to look pretty healthy,” which should cause yields to rise over coming months, said Guneet Dhingra, head of U.S. interest-rate strategy at Morgan Stanley.
– Burry’s bearish bond bet is largely in line with the calls of most Wall Street strategists.
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