Latest news with #Dubai-headquartered
Yahoo
6 days ago
- Business
- Yahoo
NWTN Receives Nasdaq Staff Delisting Determination for Non-Compliance with Listing Rule 5250(c)(1)
DUBAI, United Arab Emirates, May 28, 2025 (GLOBE NEWSWIRE) -- NWTN Inc. (Nasdaq: NWTN), a Dubai-headquartered Intelligent New Energy Vehicles (NEV) and smart technology company ('NWTN' or the 'Company'), today announced that it received a determination notice from the staff (the 'Staff') of The Nasdaq Stock Market LLC ('Nasdaq') informing the Company that as a result of the Company's failure to file its Annual Report on Form 20-F for the fiscal year ended December 31, 2024 (the '2024 Annual Report') with the Securities and Exchange Commission (the 'SEC') and comply with Nasdaq Listing Rule 5250(c)(1), the Company's securities will be delisted from Nasdaq in accordance with Nasdaq Listing Rule 5814(d)(4)(B) (the 'Delisting Determination'). Unless the Company requests an appeal of the delist determination by May 28, 2025, trading of the Company's ordinary shares and warrants will be suspended at the opening of business on May 30, 2025 and a Form 25-NSE will be filed with the SEC, which will remove the Company's securities from listing and registration on Nasdaq. The Delisting Determination does not result in the immediate suspension of trading or delisting of the Company's securities, and the Company has requested (i) a hearing to appeal the Delisting Determination and (ii) an extended stay of the trading suspension until a Nasdaq Hearings Panel has rendered a decision on the appeal. There can be no assurance that the Nasdaq Hearings Panel will grant the Company's request for continued listing or stay the suspension of the Company's securities. The Company recognizes that trust is earned through transparency and adherence to robust standards, and that its shareholders deserve consistent and transparent financial disclosures. The Company is committed to implementing an enhanced governance framework that delivers timely and accurate reporting. The Company filed its Annual Report for the fiscal year ended December 31, 2023 on April 28, 2025 and its interim report for the six months ended June 30, 2024 on May 12, 2025, and it is working diligently to file the 2024 Annual Report as soon as practicable. However, there can be no assurance that the Company will be able to regain compliance with this requirement or will otherwise maintain compliance with other Nasdaq listing criteria. ABOUT NWTN NWTN is a global innovator in smart EVs, green energy solutions, and autonomous driving technologies, headquartered in Dubai, UAE. For further information, please visit: FORWARD-LOOKING STATEMENTS This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are characterized by future or conditional verbs such as 'may,' 'will,' 'expect,' 'intend,' 'anticipate,' believe,' 'estimate' and 'continue' or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information. These forward-looking statements include, but are not limited to, NWTN's expectations as to the filing of the 2024 Annual Report, compliance with the Nasdaq Listing Rules and NWTN's ability to regain compliance. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to risks that (i) the requests for a Hearings Panel hearing and an extended stay of the suspension may not be granted, (ii) even if a Panel hearing is granted, the Hearings Panel may agree with the Delisting Determination and NWTN's securities may be removed from listing and registration on Nasdaq, (iii) NWTN may not be able to maintain compliance with any other applicable listing requirements, and face delisting, and (iv) the other risk factors contained in NWTN's filings with the SEC, which are available for review at Forward-looking statements speak only as of the date they are made. New risks and uncertainties arise over time, and it is not possible for NWTN to predict those events or how they may affect NWTN. If a change to the events and circumstances reflected in NWTN's forward-looking statements occurs, NWTN's business, financial condition and operating results may vary materially from those expressed in NWTN's forward-looking statements. Readers are cautioned not to put undue reliance on forward-looking statements, and NWTN assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. CONTACT Investor RelationshipsEmail: pr@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mid East Info
26-05-2025
- Business
- Mid East Info
Dubai-Headquartered CG Hospitality Partners with Marriott for Global Brand Launch - Middle East Business News and Information
CG Hospitality and Marriott International Launch Series by Marriott™ with The Fern Brand Portfolio in India Dubai-headquartered CG Hospitality strengthens presence in India, with plans for the Middle East growth CG Hospitality Global, the hospitality arm of CG Corp Global and majority stakeholder in Concept Hospitality Private Limited (CHPL), proudly announced a landmark collaboration with Marriott International for the Global Launch of Series by Marriott™— A new midscale and upscale collection brand. This historic move is anchored by the affiliation of The Fern portfolio, one of India's most respected eco-sensitive hotel chains. Founded in 1996 by Param Kannampilly, CHPL has grown into one of India's most respected hotel management companies. This partnership marks a major milestone for India's hospitality sector. The Fern, The Fern Residency, and The Fern Habitat will be integrated into Marriott's global ecosystem. With over 120 operating hotels under various brands, in 90 cities and 40 additional properties in the pipeline at CHPLA, the deal is expected to add up to 84 Fern branded hotels and approximately 6,000 rooms to Marriott's India portfolio—making it one of the most significant multi-unit transactions in the country's hospitality landscape. The agreement includes a strategic equity investment by Marriott in CHPL and an exclusive long-term co-branding relationship for The Fern brands in India. Fern hotels will now benefit from Marriott's global distribution platforms, digital systems, and the Marriott Bonvoy™ loyalty program with 237 Million members, while retaining their independent spirit and regional identity. This collaboration reflects CG Hospitality's long-standing belief in the strength of regionally rooted brands with global potential. CG Hospitality, headquartered in Dubai, has nurtured Fern into a leading name in eco-sensitive, high-quality hospitality. Having already established a strong footprint in the UAE with landmark properties such as Taj Jumeirah Lake Towers, the partnership now takes that vision global, amplifying the reach and capabilities of The Fern across the Middle East and beyond. Rahul Chaudhary, Managing Director & CEO, CG Corp Global & CG Hospitality Holdings, said: 'This strategic collaboration represents more than just a portfolio expansion—it's the alignment of two shared visions to redefine the mid-market hospitality landscape. At CG Hospitality, we've long championed sustainable, responsible, and accessible hospitality, particularly through Fern's pioneering presence across India's Tier 2 and Tier 3 cities. With this partnership, we're now setting our sights on taking The Fern to 500 hotels by 2030, and arguably making The Fern brands, the biggest in this segment, in India, while expanding CG Hospitality's footprint to 650 hotels globally. Marriott's global scale, trust, and loyalty ecosystem will be a powerful catalyst in achieving this ambitious vision. Together, we're not only strengthening India's hospitality infrastructure but enabling a regional eco-sensitive brand to thrive on the global stage. This is a defining moment for The Fern and a bold new chapter for Indian hospitality.' This collaboration reflects a shared commitment to scaling responsibly and serving consciously, particularly across emerging and culturally rich destinations in India. 'Series by Marriott furthers Marriott's commitment to delivering lodging offerings in the right place at the right price with basics done well,' said Anthony Capuano, President and CEO of Marriott International. 'Creating a new, regional collection brand will further Marriott's reach among value-conscious travelers, provide additional choice for our existing Marriott Bonvoy members and guests, and offer more affiliation opportunities for local owners. We are thrilled to launch Series by Marriott through our founding deal with CHPL. This deal will help meaningfully expand Marriott's leading position in India, a key market for the company. We see this multi-unit conversion deal as a strong foundation as we look to accelerate growth of the Series by Marriott collection in additional markets around the world. The Fern portfolio throughout India is highly regarded and CHPL's commitment to operational excellence and meeting the needs of regional travelers embodies the spirit of the Series by Marriott brand.' CG Hospitality currently operates a diverse portfolio of 195 Hotels, Resorts, and Wellness destinations across 12 countries and 127 destinations. This partnership underscores CG Hospitality's role as a global enabler for Indian hospitality brands and its continued investment in the future of India's travel and tourism industry and in high-growth regions such as the Middle East. CG Hospitality and Marriott International recently also signed an agreement to convert The Farm at San Benito in the Philippines into an Autograph Collection resort, marking the brand's debut in the country and a significant step in expanding the wellness-focused property to international markets. ABOUT CG CORP GLOBAL CG Corp Global, the Global face of Nepal's first and only Multi-Billion-Dollar Conglomerate with an exceptional legacy of 140 years across 4 generations. CG Corp Global has 261+ brands, 202+ companies, over 20,000 employees, and is spread across 32 countries with an industry-leading foray into Fast-Moving Consumer Goods (FMCG), Banking, Power, Hospitality, Real Estate, Telecom, Cement, and education amongst others. CG Hospitality Global, a hospitality arm of CG Corp Global, has a diversified portfolio of more than 195 Hotels & Resorts across 12 countries and 127 destinations with over 12,000 keys. CG Hospitality's successful joint ventures include partnerships with globally renowned hospitality brands such as IHCL (A Tata Enterprise) through its Taj, Taj Safari, and Vivanta brands, Jetwing, Radisson, Hilton, and Fairmont brands. By 2027, this portfolio is expected to grow to over 650 hotels and 30,000 keys. CG Hospitality's diverse portfolio features some of the most iconic properties and destinations across the globe. This includes Taj Exotica Resort & Spa (Maldives), Jetwing Vil Uyana & Taj Samudra (Sri Lanka), The Farm at San Benito (Philippines), Meghauli Serai – A Taj Safaris Lodge (Nepal), Taj Jumeirah Lakes Towers (Dubai, UAE) and Fairmont The Norfolk & Fairmont Mara Safari Club (Kenya), Double Tree by Hilton JFK Airport in New York amongst others. CG Hospitality also owns one of the largest management companies in India through Concept Hospitality (CHPL)/Fern Hotels, which manages over 120 mid-market to luxury hotels through its own brands under Fern, Zinc, and Beacon. This portfolio is set to grow to 500 hotels by 2027.
New Straits Times
26-05-2025
- Business
- New Straits Times
Aircraft giant Titan launches operations in Malaysia
KUALA LUMPUR: Global aircraft management company, Titan Aviation has officially launched its operations in Malaysia. In a statement today, the United States (US) and Dubai-headquartered company aims to deliver its renowned operational excellence and industry-leading safety standards to aircraft owners and high-net-worth individuals seeking private aviation solutions. "The addition of Malaysia as a regional hub enhances the company's ability to offer aviation services in Southeast Asia's second-largest aviation hub that continues to grow as a business and tourism centre," it said. Its managing director, Captain Sakeer Sheik said Malaysia is a critical gateway in Southeast Asia—not just geographically, but in terms of demand for bespoke, trustworthy private aviation services. "Our presence here allows us to support aircraft owners, charter clients, and business travellers with unmatched responsiveness, technical depth, and operational transparency," he said. Sakeer noted that the Malaysian government and its local authorities are welcoming of new players in the country to offer a variety of aviation services adhering to global standards. Titan Aviation also said the new Malaysian base will offer a wide range of services, including aircraft management, private jet chartering, aircraft sales and acquisition, Continuous Airworthiness Maintenance Organisation (CAMO) and technical services, as well as staffing solutions. It also offers Malaysian clients preferential insurance terms, faster claims and lower premiums through its group fleet coverage. "Whether it's managing a Gulfstream for a Malaysian corporate or arranging a last-minute charter to Hong Kong or Jakarta, our team here is equipped and empowered to deliver," added Sakeer. Founded in 2004, Titan Aviation manages a growing fleet of over 30 aircraft and helicopters globally—including Gulfstream jets and the Dassault Falcon—and operates across the US, Europe, the Middle East, and South and Far East Asia, including Indonesia, Cambodia, Singapore, and India.
Yahoo
08-05-2025
- Business
- Yahoo
Major news sends Coinbase stock rallying
Coinbase (Nasdaq: COIN) has agreed to acquire Deribit for roughly $2.9 billion, The Wall Street Journal reported on May 8. The deal would mark the largest acquisition in the history of the crypto industry. Valued at $2.9 billion, the transaction consists of $700 million in cash and 11 million shares of Coinbase Class A common stock. While Coinbase is the largest crypto exchange in the U.S., Dubai-headquartered Deribit is the world's leading crypto options and futures exchange. In fact, Deribit processed $1.2 trillion in trading volume in 2024. 'We're excited to join forces with Coinbase to power a new era in global crypto derivatives,' Deribit CEO Luuk Strijers said. 'As the leading crypto options platform, we've built a strong, profitable business, and this acquisition will accelerate the foundation we laid while providing traders with even more opportunities across spot, futures, perpetuals, and options – all under one trusted brand. Together with Coinbase, we're set to shape the future of the global crypto derivatives market," Strijers added. Coinbase had been competing with another U.S.-based exchange Kraken for months to acquire Deribit. As reported earlier, Kraken announced the acquisition of NinjaTrader, the futures trading exchange, for $1.5 billion. Notably, the federal regulator dropped the securities violations case against Coinbase on Feb. 27. The company's stock which fell as much as 18% following President Donald Trump's "Liberation Day" announcement of tariff hikes has been able to recover. COIN was trading at $207.25 at the time of writing, up 5% a day. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Sun
01-05-2025
- Business
- The Sun
Why do Chelsea now have a shirt sponsor and what is DAMAC?
CHELSEA have announced a new front-of-shirt sponsor with DAMAC for the rest of the season after 50 games without one - but only for a maximum of seven matches. The Blues had spent most of the season without a sponsor but on Wednesday afternoon announced on their social media channels their partnership with the firm. 2 2 In a statement released on the club website, it read: "Chelsea Football Club today announces a new, long-term global partnership with Dubai-headquartered DAMAC Properties which becomes our Official Property Development Partner. "DAMAC will also feature on Chelsea FC's front of shirt for the rest of the season." Amira Sajwani, managing director of sales & development of DAMAC Properties, said: "This launch marks the first of an elite collection that celebrates not just the passion of Chelsea FC but its enduring legacy, innovative spirit and relentless pursuit of excellence. "This initiative goes beyond celebrating the beautiful game; it sets a new benchmark for those who expect nothing less than the exceptional, every time." The West Londoners have dabbled with rumours of a potential long-term sponsor since leaving Three in 2023, with Jordan brand - the sponsors of Paris Saint-Germain - the last name touted for a collaboration. The DAMAC logo will make its first appearance on Chelsea shirts during Thursday's Conference League semi-final first leg against Djurgarden and for the women's team starting at Tottenham on May 4. However, it's expected that the sponsor won't be a permanent addition as the club will continue their search for one ahead of the Club World Cup. Why didn't Chelsea have a shirt sponsor? As stated, Chelsea had a sponsorship with sports technology brand Infinite Athlete from October 2023 until the start of this season, but failed to agree on an extension. That left the club rocking shirts without a front-of-shirt-sponsor for much of this season as the only side in the division not to be attached. The main reason regarding the absence of a sponsor was the lack of elite continental football being offered at Stamford Bridge. The Blues have found themselves in the Conference League - Europe's third-tier club competition - and with that have been significantly shifted outside from the elite status of European football. The credibility of a sponsor for the Conference League wouldn't command the fee that Chelsea would want and vice versa. However, the reward of having a shirt sponsor regardless of the mega wealth available to the club as showcased in under the ownership group led by Clearlake Capital and US billionaire Todd Boehly remains imperative. Profit and Sustainability and Financial Fair Play rules can be pretty dense, but essentially ask clubs to function more as businesses, which puts the onus on club's revenue streams. What is DAMAC? As stated on the company website, DAMAC was established in 1982 with its origins in catering and logistics. The DAMAC Group of Companies has expanded to encompass a diverse portfolio across various industries, including property development and real estate, data centres, retail and fashion, hospitality, capital markets, and logistics. In short, Chelsea's new shirt sponsor are one of the Middle East's largest real estate developers. The most high-profile involvement the company has had in football is their eight-year long relationship with Cristiano Ronaldo's Al-Nassr FC.
