DUBAI: Saudi Arabia’s Public Investment Fund-backed Lucid Motors said it will be listed on Nasdaq exchange once its merger with Churchill Capital Corp IV (CCIV) is complete.
The US-based electric vehicle maker earlier announced it was merging with New-York-listed CCIV, a blank check company that is publicly listed on the New York Stock Exchange.
The merger comes as the carmaker prepares for the delivery of its first vehicle, Lucid Air, a 500-mile range luxury electric sedan that is powered by the company s proprietary electric powertrain technology.
The transaction is expected to provide additional growth capital for Lucid, which currently employs nearly 2,000 people, and plans to add around 3,000 more by the end of 2022.
DUBAI: European Union countries agreed on Wednesday to ease COVID-19 travel restrictions on non-EU visitors ahead of the summer tourist season, Reuters reported Ambassadors from the 27 EU countries approved a European Commission proposal from May 3 to loosen the criteria to determine “safe” countries and to let in fully vaccinated tourists from elsewhere, it said, citing
DUBAI: Jumeirah Group has completed a £100 million refurbishment of its European flagship hotel in London s Knightsbridge.
It comes as the UK emerges from lockdown despite the continued spread of the Indian variant of the coronavirus in some parts of the country.
The Carlton Tower Jumeirah will open its doors on June 1 2021 following an 18-month closure for refurbishment, the Dubai-based company said in a statement on Wednesday.
It reduced the number of rooms from 216 to 186 to offer guests more space and the new design includes London s largest naturally lit swimming pool. This landmark opening is set against the backdrop of a pandemic, which has seen the world and our beloved industry face extreme difficulty, said General Manager Aaron Kaupp.
CAIRO: Egypt will extend measures to contain the spread of the coronavirus, including early closing hours for shops, until the end of May, the cabinet said on Wednesday. Public parks and beaches will be allowed to reopen in two weeks’ time, with appropriate precautions. Since May 6, stores, malls and restaurants have had to close by 9 p.m.
CAIRO: Egypt on Tuesday inaugurated two new museums in two terminals of the Cairo International Airport. “On the occasion of International Museum Day, which falls on May 18 every year, the Ministry of Tourism and Antiquities and the Ministry of Civil Aviation have inaugurated two new museums at the Cairo International airport,” said Minister of Tourism and Antiquities Khaled