Business News from Thursday, August 13th, 2026

XRG, ADNOC’s international energy investment company, has announced its entry into Venezuela through the award of the offshore Loran licence, and the transfer of interest in the licence by PDVSA Gas.

Venture capitalist Joshua Kushner and former Disney CEO Bob Iger are set to purchase the Los Angeles Lakers, with the deal valued at a record $12.5 billion, according to sources familiar with the matter on Wednesday.