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  • Reuters

    US plans $75 million grant to Absolics for advanced chip packaging

    The US Commerce Department said on Thursday it plans to grant $75 million to Absolics for constructing a 120,000-square-foot facility in Georgia that will supply advanced materials to the country's semiconductor industry. The planned award to the semiconductor packaging provider, an affliate of SKC Co, which in turn is part of South Korea's second-largest conglomerate SK Group, is to come from the U.S. government's $52.7 billion U.S. semiconductor chips manufacturing and subsidy fund. The funds will develop technology for advanced packaging, marking the first commercial facility to support the semiconductor supply chain with a new advanced material.

  • Associated Press

    Toronto awarded WNBA's first franchise outside US, with expansion team set to begin play in 2026

    Toronto has been awarded the WNBA's first franchise outside the United States, with the expansion team set to begin play in 2026. The team will be owned by Larry Tanenbaum-led Kilmer Sports Ventures. Tanenbaum also is the chairman and a minority owner of Maple Leaf Sports and Entertainment, which owns several Toronto sports franchises, including the NBA's Raptors and NHL's Maple Leafs.

  • Reuters

    Iran's President Raisi to be buried in Mashhad

    Iran's late President Ebrahim Raisi is set to be buried in the holy city of Mashhad on Thursday, four days after he was killed in a helicopter crash along with foreign minister Hossein Amirabdollahian and six other people. Raisi's coffin was flown to Mashhad in northeast Iran after a funeral procession was held for him on Thursday morning in the eastern city of Birjand, where thousands paid their respects as his remains were driven through the streets in a motorcade. A guard of honour stood to attention as the plane carrying Raisi's coffin arrived in Mashhad, his hometown, where he will be laid to rest at the gold-domed Imam Reza shrine, the holiest Islamic site in Iran and revered by Shi'ite Muslims as the resting place of the 9th century Imam Ali al-Reza.