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flynas signs $3.7bn deal with Airbus for 30 planes

RIYADH: Saudi Arabia’s budget airline flynas has signed a $3.73 billion agreement with Airbus to buy 30 aircraft, Saudi state TV reported on Monday. The deal was signed at the Paris Air Show by Bandar Al-Mohanna, flynas CEO and managing director, and Christian Scherer, Airbus chief commercial officer and head of international, in the presence of Saudi Minister of Transport and Logistics Saleh Al-Jasser, Abdulaziz Al-Duailej, president of General Authority of Civil Aviation, and Ayed Aljeaid, chairman of the board of NAS Holding.

Lucid Group aims to raise $3bn, with Saudi PIF as main investor.

RIYADH: Lucid Group plans to raise $3 billion through a stock offering, 66 percent of which will come from Saudi Arabia’s Public Investment Fund.  The California-based EV maker said Ayar Third Investment Co., which is its majority stockholder and an affiliate of the PIF, has agreed to buy as much as 265.7 million shares in a private placement for an estimated $1.8 billion,  It said the remainder will be raised from a public offering of 173.5 million shares of common stock.  

Bed Bath & Beyond files for US bankruptcy

One of the original big box retailers, it has had years of dismal sales and losses and said it will close all stores.

Tesla’s Profit Margins Decline, Shares Drop Due to Discounts

The Elon Musk-led EV maker has slashed prices several times since last year, sacrificing profit margins to drive sales.

Dominion & Fox News Settle $787M Defamation Case

The voting machine maker had launched a $1.6bn lawsuit against the news network for its coverage of 2020 US election.

Elon Musk Discusses Twitter ‘Ups and Downs’ in BBC Interview

The multi-billionaire defended his running of the company in a last-minute interview live from Twitter HQ.

Russia’s Nuclear Arsenal: Size and Control

Russian President Vladimir Putin has announced a deal to deploy tactical nuclear weapons to Belarus.

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