Abu Dhabi's Aabar Investments on Tuesday said it will pay $280m (€196.1m) for a 32% stake in Virgin Group's commercial spaceline, Virgin Galactic, in a move that will advance the oil-rich emirate's plan to become a hub for scientific research and innovation.

The deal will see Aabar and Virgin enter into a strategic partnership to create the world's first commercial spaceline, the companies said in a joint statement.

Aabar to buy 32% stake in Virgin's commercial spaceline

Zawya Dow Jones

Northrop Grumman

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Coutts hires ex-JPMorgan banker James Todd as next private client boss

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

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US law firm hires private equity specialist from key client

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The pact imposes a baseline tariff of 15% on the U.S.’s biggest trading partner.

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Bosses aren’t just unapologetic about staff cuts. Many are touting shrinking head counts as accomplishments in the AI era.

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Many in the Gen Z generation missed out on critical experiences during the pandemic. Bosses should be filling in those gaps.

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The president turned a rare visit to the U.S. central bank into political theater that included hard hats and a back slap.

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The Davos founder rejected preliminary findings of misconduct, including improper travel expenses and gifts.

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The European Union still wants a deal, but with U.S. demands growing, the bloc is getting ready to push back.

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