One of two things will happen as you scroll through these images: either you will reel at the sight of a classic muscle car in such an outlandish bluish-purple burple color, or you ll fall in love with those bold, sensual lines all over again in a new, gorgeous context.While the gray Shelby was headed to a German customer, this one is headed a bit further East, to a Sheikh in Saudi Arabia.Although the owner may well own faster, lighter, lower, and more expensive cars, but it doesn t get much more unique than a 1967 Burple Stang.Specific upgrades include Wilwood six-piston front and rear brakes, a VaporWorx fuel pump, Magnaflow exhaust, Rod and Custom suspension system, 225 front and 315 rear BFG Rival tires, and Carroll Shelby Signature seats and gauges.All told, there are thousands of dollars of modifications, but almost all of them are below the surface, maintaining the car s classic curb appeal.Like the other Shelby we shared, the final price paid for this custom project wasn t disclosed, but we do know that Classic Recreations charges a starting fee of $219,000 for your own rolling piece of history.
Combustion Professor Bengt Johansson has left Lund University ... Photographer: Mats Nygren Five questions to Bengt Johansson, professor of internal combustion engine technology, which in anger have left Lund and moved to Saudi Arabia. I have been about the same as students here in Lund, they come mainly from India and China. There are some advantages. It has 120 researchers in the field of combustion technology, and now they want to build a business in engine technology and that's where I come in. During the construction period was 60 000 people involved. But of course it is not paid less here than in Lund and also tax free.
Emerging-market stocks climbed for a second day as a rally in technology companies drove Taiwanese equities to the biggest gain in eight months and shares from China to Hungary advanced.The Taiex index led advances as Apple Inc. vendors such as Taiwan Semiconductor Manufacturing Co. surged.Hungarian equities were higher and 10-year government bonds rose after Fitch Ratings upgraded the nation s credit.The concerns among investors remain and the risk for Federal Reserves to raise its rate in June is still there.Fitch Ratings lifted Hungary s long-term rating one step from junk to BBB- on Friday, citing the country s current-account surplus and falling external debt.Equity indexes in Indonesia and South Korea gained at least 0.4 percent.Stock gauges in Saudi Arabia, South Africa and Russia sank at least 0.7 percent.
Max Levchin, your fellow founder at Paypal, told me back in 2007 you were concerned about the reaction, not in Silicon Valley, but among investors in your hedge fund from less tolerant places such as Saudi Arabia.Let us run through a few examples so that people can actually read the articles you find so illegitimate, and make their own judgment about their newsworthiness.Parker was stung more recently by criticism from his neighbors of the disruption to 10th St. in Manhattan when the street was dug up to get a Fios line to Bacchus House, the famous party venue where Parker had been planning to live.Valleywag covered that story, as well as his lavish and controversial wedding in the redwoods near Big Sur.Among the million posts published by Gawker and other properties since the company was founded, there have undoubtedly been occasions we overstepped the line.You said you wanted to even the legal playing field for people without your resources.
A day after Iran's statistics centre's site was breached, Saudi Arabia government websites were reportedly hacked intoIran's cyber police claim to have traced the hackers behind a recent government website breach to IP addresses in three Arab countries, including Saudi Arabia."We monitored a cyber attack on May 24 which was conducted from three countries and led by hackers in Saudi Arabia and they launched deceive attacks on the Statistical Centre of Iran and of course such an attack is not important technically," said Hadianfar.According to Al-Monitor, reports about the Iran statistics centre breach began emerging on 25 May, with many speculating that the extremist group IS Isis may have had a hand in the attack.However, Hadianfar dismissed any links to IS, saying: "The hacker already had a hacking record and was identified by FATA."Saudi Arabia sought to materialize its threats through such attacks but it was mostly a type of show-off."Referring to the hack on Saudi Arabian government websites, Hadianfar said the attack may have been orchestrated by some in an "emotional" move, stressing that Iran has not carried out any "organised" attack on Saudi websites, Tasnim News reported.
Photo: Satumaari Ventelä The price of oil falls the third day, when the Canadian oil producers launched production after forest fires. OPEC oil-producing countries will meet this Thursday in Vienna to discuss the possible restriction of production. Bloomberg analyst estimates that OPEC does not, however, expected to reach agreement on any kind of limitation of production. Saudi Arabia to stick to its strategy, which it wants to squeeze its competitors. North Sea Brent price for delivery in July has fallen 31 cents on Monday to $ 49.01 a barrel in London. On Friday, it fell to 27 cents.
View photosMoreThe logo of car-sharing service app Uber on a smartphone over a reserved lane for taxis in a street is seen in this photo illustration taken in Madrid on December 10, 2014.In a written statement, Uber co-founder and Chief Executive Officer Travis Kalanick called the investment a "vote of confidence in our business."It shows that the some of the most high-profile companies with mass consumer adoption -- among them also Snapchat, which last week disclosed a $1.81 billion funding raise -- can still demand investor dollars, even as other tech firms are downsizing to weather a funding drought.Uber has committed to investing $250 million in the Middle East and North Africa, where it has grown aggressively and is now operating in nine countries and 15 cities in the region.In the first quarter of the year, Uber had more than 395,000 active riders across the region, a five-fold jump from the first quarter of 2015, and 19,000 active drivers, representing a four-fold increase over the same period.Uber says it has operated in Saudi Arabia since early 2014 and about 80 percent of its more than 130,000 riders in that country are women.
The $3.5bn deal solidifies Uber's status as the world's most valuable tech startupRide-hailing app Uber has received its largest investment to date from Saudi Arabia's sovereign wealth fund.Uber hopes the deal with the PIF, which is valued over $100bn, will help expand into 70 countries while encouraging reforms in the conservative country."We appreciate the vote of confidence in our business as we continue to expand our global presence," said Travis Kalanick, the chief executive of Uber.Uber plans to use the money to expand both its geographical offering and its range of services.The company recently joined forces with Toyota to enable Uber drivers to lease their cars from the car maker, helping Uber grow its fleet of dedicated workers.From turning down the iPod to rejecting Google: The biggest mistakes in tech history
Of oil exports. Workers in the oil port in Iran Khargin on the island. OPEC leader in Saudi Arabia was not ready to decide on a limitation of production without Iran's participation. Photo: ZUMA WIRE Thursday's OPEC meeting is not expected to support higher oil prices. US oil production on the other hand is relatively agile to react to market changes, and the best areas of production may begin as early as increases if oil prices will last, and demand remains strong. In particular, Saudi Arabia, and Iran's strained relations probably complicate decision-making.
Image copyrightThe taxi service app Uber has attracted a $3.5bn £2.43bn investment from Saudi Arabia's Public Investment Fund.The money will help it to expand in the Middle East, where the company says 80% of its users in Saudi Arabia are women.The new money values the company at $62.5bn and will see a managing director at the fund, Yasir al-Rumayyan, take a seat on Uber's board.The investment from the Public Investment Fund, set up by the kingdom to develop the country and invest the revenues from its vast oil reserves, is part of Uber's most recent global money-raising round.RivalsSo-called ride-hailing apps, whereby vetted private car owners offer lifts to paying passengers, are expanding at a rapid pace around the world, despite certain cities banning the services amid fears over the standards and licencing of the drivers.Uber's deal with Toyota followed Apple's $1bn investment in Chinese ride-hailing service Didi Chuxing.
Uber plans to use the money to continue its international expansion in the region and elsewhere.Partnering with the Saudi government has long produced complicated relationships for American firms.Despite some recent reforms, the country continues to be accused of mistreating dissidents, discriminating against women and an unfair criminal justice system, according to Human Rights watch.In a news release, Uber and the government sought to show that the technology startup could help bring some reforms to the country.As Uber has told reporters repeatedly in recent years, this could help more women get to work and school.The country s government has said it wants to double the percentage of women in the workforce by 2030, which would bring it to 30%.
H. Armstrong Roberts/ClassicStock/GettyThe oil crisis of 1973 showed that Hubbert s key ideas were rightTHIS is a curious time to publish a biography of M. King Hubbert.Worse, after the supply crunch of 2008 that sent the price soaring to $147 per barrel and was widely mistaken for the global peak, the world is now swimming in oil once more, and the price languishes at around $50.In 1953, he was the first to figure out how fracking worked, showing that the fractures caused by injecting fluid into rock would spread vertically not horizontally as industry experts then believed.Forecast battleYou couldn t accuse this account of being pacy, though.This seemed to have arrived between 2005 and 2009, when global production stayed flat at between 82 and 83 million barrels per day mb/d , sending the price spiralling to $147 per barrel – up 15-fold on the previous decade.The chances of this have improved with the Paris climate agreement, as even Saudi Arabia seems to accept, having announced a $2 trillion fund to wean its economy off oil by 2030.
View photosMoreFILE - In this Dec. 16, 2014, file photo a man leaves the headquarters of Uber in San Francisco.AP Photo/Eric Risberg, File SAN FRANCISCO AP — Uber said Wednesday it is getting a massive cash infusion from Saudi Arabia.The oil-rich nation's sovereign investment fund is putting $3.5 billion into the global transportation company, and will get a seat on Uber's board of directors.Funding for new tech companies has been slowing down in recent months amid concerns that many startups have been over-valued.But San Francisco-based Uber has been able to raise billions of dollars as it pursues ambitious plans to expand around the world.The Saudi money is part of a larger round of funding by several investors, which valued Uber at $62.5 billion.
The money came in at Uber s valuation of $62.5 billion, which is the same amount at which it reportedly raised $2.1 billion late last year.The investment is part of Uber s series G round, but it s very large and noteworthy on its own.For perspective, that s more than publicly traded Twitter $6.47 billion, as of March 31 .Of course, Saudi Arabia is affiliated with oil, so for the investors, this deal can fairly be called strategic.The Saudi Arabian Public Investment Fund is excited to have completed this important strategic investment with Uber, an extraordinary company with an inspiring mission, Yasir Al Rumayyan, the Saudi Arabian Public Investment Fund s managing director, said in a statement.This ambitious and far-reaching plan presents a number of goals, including unlocking strategic sectors such as tourism and entertainment, boosting employment opportunities and women s participation in the workforce, and encouraging entrepreneurship.And Al Rumayyan is right to talk about return on investment — when San Francisco-based Uber finally goes public, the deal should have a considerable payout.Toyota also recently invested in seven-year-old Uber.Meanwhile, Uber s competitors have been picking up big sums of money lately, too.Apple put $1 billion into Didi Chuxing of China, while GM put $500 million behind Lyft.
Uber Technologies Inc. said Wednesday it raised $3.5 billion from the investment arm of Saudi Arabia, a grand gesture from the Middle East that represents the largest-ever U.S. funding round for a venture-backed company.The investment from Saudi Arabia s Public Investment Fund values the ride-hailing company at more than $66 billion, including the amount of cash raised in the recent round, Uber said in an emailed statement.Yasir Al Rumayyan, the managing director of Saudi Arabia s Public Investment Fund, is taking a seat on Uber s board.The company said it plans to work with the government to create more opportunities for women in the country.This is the largest slug of capital raised by Uber, topping an earlier $2.8 billion round, the previous U.S. record, according to Dow Jones VentureSource.Earlier this year, Alibaba Group Holding Ltd. BABA -6.48 % s affiliate, Ant Financial Services Group, raised $4.5 billion in a funding round, while China online retailer Meituan-Dianping collected $3.3 billion.
Uber CEO Travis Kalanick speaks to students during an interaction at the Indian Institute of Technology campus in Mumbai, India, January 19, 2016.Uber UBER.UL has raised $3.5 billion £2.4 billion from Saudi Arabia s sovereign wealth fund, the U.S. ride-hailing service said on Wednesday, gaining a crucial partner in its expansion into the Middle East.The investment from the Saudi Arabian Public Investment Fund was part of Uber s most recent financing round that valued the company at $62.5 billion, Uber said, making it the most highly valued venture capital-backed company in the world.Uber has committed to investing $250 million in the Middle East, where it has grown aggressively.The company says that 80 percent of Uber riders in Saudi Arabia are women.Reporting by Heather Somerville; Editing by Tiffany Wu
Image of a woman who would be subject to imprisonment or physical punishment should she enter that car behind the wheel: Uber.comUber, Silicon Valley s moral compass, just accomplished perhaps the greatest-ever feat of brand synergy: The New York Times reports that the transit company just banked a $3.5 billion funding round from the Saudi Arabian government, which prohibits women from driving under penalty of lashing.Not only are Saudi women banned from operating motor vehicles altogether, even accepting a ride from a man who is not your husband or brother can land you in hot water.In 2013, two Saudi women were apprehended after being caught driving, and although they were spared a whipping, they were held in police custody until their husbands could arrive and sign a form promising that they would never drive again.The investment round comes at a time when U.S. legislators are pushing for the release of a 28-page redaction from a 9/11 post mortem report that possibly indicates Saudi involvement in the terror attack, along with a movement that would allow 9/11 victims families to file lawsuits against Saudi Arabia.Now, Uber CEO Travis Kalanick will welcome a Saudi governmental representative to his board, the Times reports:As part of the investment, a managing director at the Public Investment Fund, Yasir Al Rumayyan, will take a seat on Uber s board, joining Uber s chief executive, Travis Kalanick, and other directors, including Arianna Huffington.This statement of values will probably not come as much relief to the women Uber riders who say they have fallen victim to sexual harassment and assault, nor to those who will be riding with Uber in the future.
Uber Technologies Inc. said it received its biggest investment to date, raising $3.5 billion from the Public Investment Fund of Saudi Arabia.The investment valued Uber at $62.5 billion, the same amount as its previous valuation, the company said.Lyft Inc., the second-largest ride-hailing company in the U.S., has raised at least $100 million from Saudi Arabian billionaire Prince Alwaleed Bin Talal s Kingdom Holding Co. As the Kingdom of Saudi Arabia s sovereign investment arm, we re focused on achieving attractive long-term financial returns from our investments, Al Rumayyan said in a statement.Uber expanded its previous financing round to include the investment from Saudi Arabia s Public Investment Fund.The money brings Uber s total balance sheet, including cash and convertible debt, to more than $11 billion, the company said.The cash infusion helps the company push off the need to go public.Uber is currently operating in nine countries and 15 cities in the Middle East and North Africa.The company said it has committed to investing $250 million in the region.Didi Chuxing, a Chinese ride-hailing company that s Uber s biggest global competitor, said last month that it raised $1 billion from Apple Inc. Alibaba Group Holding Ltd. and its finance affiliate invested another $400 million in the Chinese company.
Uber has raised $3.5 billion from a new investor: Saudi Arabia.The ride-hailing service announced on Wednesday that it has received a cash infusion from Saudi Arabia's Public Investment Fund, the main investment fund in the kingdom.The investment was part of Uber's most recent round of funding, which totaled more than $5 billion and valued the company at $62.5 billion.The Saudi portion of the funding represents Uber's largest investment from a single investor, and it brings Uber's total balance sheet of cash and convertible debt to more than $11 billion, the company said on Wednesday.Uber CEO Travis Kalanick said in a statement that the company is partnering with Saudi Arabia to support its economic and social reforms.Uber first began operating in the kingdom in 2014.This investment also falls in line with Saudi Arabia's recently announced Vision 2030, the kingdom's plan to reduce its dependence on oil during the next 15 years, Uber said.Yasir Al Rumayyan, managing director of the Public Investment Fund, will join Uber's board of directors.The deal will not cash out any of Uber's existing investors.NOW WATCH: Apple invested $1 billion in this Chinese companyLoading video...
The massive investment is remarkable even for Uber, which consistently has raised staggering amounts of cash at sky-high valuations while undergoing explosive global growth.Under terms of the deal, Uber will maintain its valuation of $62.5 billion and its position as the most valuable private company in the world."We appreciate the vote of confidence in our business as we continue to expand our global presence," Uber co-founder and CEO Travis Kalanick wrote in an emailed statement.File photo: A man leaves the headquarters of Uber in San Francisco.Last month Snapchat raised $1.8 billion, and San Francisco-based Uber has raised multiple previous rounds topping $1 billion.The ride-booking platform's most recent funding round is even more noteworthy given that many other tech companies are struggling to raise cash as investors tighten their belts, wary of inflated "unicorn" valuations.AdvertisementThe Saudi Arabian Public Investment Fund expects the $3.5 billion investment in Uber to aid the country in its goals of moving away from a dependence on oil, expanding opportunities for women and encouraging entrepreneurship.
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