Qatar adds Audi Formula One team to its sporting line-up Posted on 30/11/2024 Audi is set to make its Formula One debut in the 2026 season. (AFP pic) DOHA: Qatar is buying a significant minority stake in Audi’s Formula One team, the Gulf country’s estimated US$510 billion sovereign wealth fund and the German carmaker said today. The holding will be almost a third of the team, a source familiar with the matter told Reuters after the Qatar Investment Authority (QIA) deal with Audi was announced during the first day of the Qatar Grand Prix, the penultimate of the season. Financial terms of the deal, which builds on the Qatari state’s global sports portfolio, were not disclosed. The QIA also owns a 17% stake in Germany’s Volkswagen, which owns Audi. Audi, Volkswagen’s luxury brand, is set to make its Formula One debut in the 2026 season and turn Switzerland-based Sauber into its factory team, after flagging in March it would acquire 100% of the firm. Sauber is the only team yet to score a point in 22 Formula One races this season. Qatar’s other sporting holdings include France’s Ligue 1 club Paris St-Germain, which is owned by Qatar Sports Investments (QSI), a state-backed body founded by the emir of Qatar, Sheikh Tamim bin Hamad Al Thani. QSI also acquired World Padel Tour from its organisers Damm last year and unified the world’s professional tour under one entity, ending a power struggle in the sport. The Gulf state’s Sheikh Jassim bin Hamad Al Thani, son of a former prime minister, last year bid US$6 billion for English Premier League club Manchester United before dropping out. News
Rescued GISBH children: 28.6pc stunted, while 89 of them found to be suffering from anxiety Posted on 19/11/2024 SHAH ALAM, Nov 19 — The health screening results of the 266 children rescued from GISB Holdings Sdn Bhd (GISBH) in Selangor found that 26.8 per cent are stunted, said Menteri Besar Datuk Seri Amirudin Shari. He said the intensive screening and examination carried out by the Selangor State Health… Read More
Wong Chen clears air over call to mandate asset declaration for civil service Posted on 08/12/2024 Subang MP Wong Chen said the asset declarations should also be audited by an independent body. PETALING JAYA: Subang MP Wong Chen has clarified his call for mandatory asset declarations for civil servants, following Cuepacs’s remarks that members of the public service are already required to declare their assets. Wong… Read More
No charges yet in 1BestariNet case as MACC continues RM4b project probe, says deputy education minister Posted on 11/11/2024 KUALA LUMPUR, Nov 11 — No charges have been filed in court against the operators of the 1BestariNet project as the investigation remains ongoing, Deputy Education Minister Wong Kah Woh informed the Dewan Rakyat today. He said his ministry and the Cabinet are in discussions on how to address issues… Read More