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Dubai hosted the first public manned flight of Aridge’s Land Aircraft Carrier over Palm Jumeirah, a demonstration that showcases the vehicle’s dual-mode driving and flying capabilities and signals ambitions for the Gulf as an early adoption market.

The modular vehicle, combining a ground “mothership” with a detachable two-seat aerial unit, lifted off from the grounds near the Waldorf Astoria before reattaching and driving away. Aridge said the flight marks a milestone in its plan to roll out consumer deliveries in the Middle East by 2027.

Company executives reported that 600 units have already been pre-ordered by GCC firms, including UAE’s Ali & Sons Group, Kuwait’s Al-Sayer, and Qatar’s Almana, pushing the global tally past 7,000. The firm expects deliveries to begin in 2026 from a new facility in Guangzhou, capable of producing 10,000 vehicles annually.

Aridge’s modular design addresses a common challenge in flying car development: how to balance driving performance, storage, and aerial capability. The ground vehicle acts as a mobile energy platform and storage base, while the air module docks and undocks autonomously. The air unit’s control system uses a single-stick interface managing ascent, speed, and stability with built-in safety constraints such as geofencing.

This version is the fifth generation of the platform, evolving from earlier prototypes demonstrated in Dubai in 2022. For mass adoption, regulatory certification is pivotal: the UAE granted a special flight permit, allowing the test flights to proceed. Aridge’s air module has already received civil aviation type certification in China.

The startup forecasts a market worth of US $41 billion for China’s eVTOL sector by 2040, while projecting Middle East demand to reach about $11 billion. Executives say technological advances—shortened development cycles and lower costs—are making what once seemed science fiction increasingly viable.

Despite the showpiece flight, challenges remain. Integrating city air traffic management, ensuring safety for public use, and building air-ground infrastructure—such as landing pads, vertiports, and regulatory frameworks—are hurdles in most jurisdictions. Some analysts caution that even with promising prototypes, wide adoption may lag until certification, cost reduction, and public trust converge.

In the Gulf region, regulatory openness is proving advantageous: the UAE’s willingness to issue experimental permits positions it as a testbed, attracting innovators who might struggle to get approval elsewhere. Meanwhile, Aridge is lining up partnerships and agreements across the GCC to support sales, operations, and maintenance in local markets.

Intercontinental Exchange, which owns the New York Stock Exchange, is committing up to $2 billion in Polymarket, valuing the event-prediction platform at about $8 billion before the investment. ICE will serve as a global distributor of Polymarket’s event-driven data and will collaborate on tokenisation and related infrastructure.

Polymarket is gearing up for its return to U. S. markets following a multi-year regulatory hiatus. The firm acquired QCEX, a derivatives exchange and clearinghouse with CFTC licensure, for $112 million, enabling it to operate under U. S. regulation. The Commodity Futures Trading Commission has granted a no-action letter for event contracts, clearing a path for U. S. users to trade again.

Born in 2020 under the leadership of CEO Shayne Coplan, Polymarket permits users to wager on outcomes by purchasing “Yes” or “No” tokens. The market price implies a probability. Winning tokens settle at $1, while losing ones expire worthless. All trades occur via peer-to-peer smart contracts built on the Polygon blockchain.

Polymarket saw a surge in profile during the 2024 U. S. presidential campaign, when trading volume on election markets surpassed $3 billion. Its probability signals have since been picked up by mainstream outlets and financial analysts as indicators of public sentiment and forecasting.

ICE’s strategic investment reflects growing institutional interest in prediction markets. With control over NYSE infrastructure and deep data capabilities, ICE aims to monetise sentiment analytics and integrate such signals alongside traditional financial indicators. ICE has maintained that the investment will not materially affect its 2025 financials.

Coplan has acknowledged the significance of the tie-up, saying the partnership “marks a major step in bringing prediction markets into the financial mainstream.” Jeffrey Sprecher, ICE’s CEO, praised the union as an alignment between legacy market infrastructure and next-generation decentralised finance innovation.

Observers suggest that navigating regulatory risk is central to Polymarket’s success. Its three-year exit from U. S. users followed a 2022 settlement with the CFTC over unregistered derivatives operations. That settlement barred U. S. users from accessing the platform, and investigations into U. S. usage had been a cloud over the company. With the regulatory clearance and ICE backing, Polymarket is now executing a comeback in the U. S. domain.

Polymarket also attracted backing from 1789 Capital, a venture fund backed by Donald Trump Jr., which joined its advisory board earlier this year. Kalshi, a peer prediction market, won a favorable court ruling against the CFTC last year, setting precedents that influence Polymarket’s legal and operational landscape. The broader industry is watching closely, as the success or failure of this bet by ICE may signal whether prediction markets can transition from niche crypto tools to mainstream financial instruments.

Shayne Coplan, born in 1998 and a former dropout from New York University, is now recognised as the youngest self-made billionaire under the Bloomberg index following the deal. His trajectory illustrates the accelerating nexus among finance, tech and speculative market platforms.

Gold-backed digital tokens such as Paxos’s PAXG and Tether’s XAUT have shown greater resilience than much of the crypto market during a sweeping $19 billion liquidation event that struck major cryptocurrencies. While Bitcoin and Ether tumbling inflicted heavy losses across leveraged positions, these gold-pegged tokens either held value or gained modestly, driven by the ongoing rally in physical gold.

Bitcoin dropped about 8.5 per cent over 24 hours, and the broader crypto index fell roughly 12.75 per cent, but PAXG dropped a mere 0.23 per cent to around $3,998, while XAUT rose by 0.2 per cent to $4,010. That divergence reflects gold’s strength: the metal closed near $4,018 per troy ounce, bolstered by safe-haven demand in volatile markets.

The combined market capitalisation of gold-pegged tokens has now crossed $3 billion, with PAXG, XAUT and KAU as leading issuers. Trading volumes also surged, reaching about $640 million in a single day, reflecting investor flight into more stable digital assets. These tokens have returned over 50 per cent year to date, mirroring gold’s gain in 2025.

Gold’s atmosphere of strength rests on several pillars: strong inflows into physically backed gold ETFs, weakening U. S. dollar dynamics, inflation hedge demand and rising geopolitical fragility. The World Gold Council reports that global ETF holdings have now reached $472 billion, marking one of the strongest quarters ever in gold history.

Yet caution signs are mounting. Analysts and the World Gold Council warn the gold market may be entering overextended territory. With gold having risen across multiple weeks, technical indicators suggest the metal might be overbought and primed for a pullback. In particular, extreme deviation above its 40-week average raises the prospect of a reversal.

Adding fuel to this narrative is the entry of tokenisation infrastructure and institutional backing. Nasdaq-listed Prestige Wealth has raised $150 million to create a treasury vehicle for Tether’s gold reserves, aiming to layer blockchain transparency onto gold ownership. Meanwhile, the World Gold Council has floated a “Pooled Gold Interests” initiative in partnership with Linklaters and Hilltop Walk to democratise fractional ownership and tradability of vault-backed bullion.

Dubai — The Syrian Pavilion will make its first appearance at GITEX Expand North Star 2025, opening from 12 to 15 October, under the banner “Syria is Online.” This marks a milestone in Syria’s efforts to reconnect with the international innovation community and attract investment for its fledgling tech ecosystem.

The pavilion is being organised by SYNC, the Syria-Next Conference network, and backed by the Syrian Business Council and the U. S.–Syria Business Council. It aims to provide Syrian startups a platform to showcase digital solutions, engage in pitching sessions, facilitate panel discussions, and establish connections with global investors and industry partners.

Bassel Yassine Ojjeh, Chairman of SYNC and project lead for the pavilion, stated that the initiative intends to generate 25,000 tech-related jobs over five years through strengthened collaboration and external funding. He emphasised that GITEX offers “a vital step … to showcase Syrian talent and build partnerships that open doors for a new generation shaping the digital future.”

The pavilion will include startup pitch showcases, interactive tech talks, and networking forums. It plans to highlight projects in sectors such as fintech, AI, e-commerce, digital health and creative tech. Several Syrian entrepreneurs have already submitted entries, and a curated selection will present on the main stages of Expand North Star.

The move aligns with a broader expansion of national pavilions in this year’s GITEX edition. Brazil is participating as the Country Partner, and new delegations from Serbia, Hong Kong, Canada and Ecuador are set to join the global tech showcase. The event is expected to host over 1,800 startups and 1,000 investors managing over USD 1 trillion AUM, turning Dubai into a tech capital for dealflow.

Despite decades of conflict and economic sanctions, Syria retains a reservoir of technical talent across its population, especially among youth and diaspora communities. SYNC was founded with the objective of bridging Syrian innovators in Silicon Valley and the diaspora with on-ground talent, thereby facilitating collaboration, mentorship, and capital flows. The 2025 edition of SYNC was held in Damascus earlier this year, bringing together local technologists and overseas experts to discuss ecosystem development.

Still, Syrian tech ambitions face significant headwinds. Infrastructure deficits, internet connectivity constraints, regulatory uncertainties, difficulties in accessing cross-border payment systems, and war-induced economic fragmentation continue to challenge the sector’s scalability. International sanctions and distrust around financial compliance also complicate foreign investment.

To mitigate these risks, the pavilion’s backers aim to frame Syria’s entry into the tech market as more than symbolic. Organisers say they are structuring due diligence frameworks, matchmaking with vetted investors, and post-event follow-up mechanisms to sustain momentum beyond the exhibition.

Dubai has launched a new permit scheme that enables free-zone companies to conduct business within its mainland, a move designed to dismantle long-standing regulatory barriers between jurisdictions and unlock new commercial opportunities.

Under Executive Council Decision No. 11 of 2025, the “Free Zone Mainland Operating Permit” allows companies already holding a Dubai Unified Licence to apply for mainland access digitally via the Invest in Dubai platform. The permit spans six months, priced at AED 5,000, and may be renewed under the same terms. The scheme applies initially to non-regulated sectors such as technology, consulting, design, professional services and trading. Companies granted the permit must maintain distinct financial records for mainland operations and will incur a 9 per cent corporate tax on revenues generated onshore.

Dubai Business Registration and Licensing Corporation, part of the Dubai Department of Economy and Tourism, has partnered with the Dubai Free Zone Council to administer the framework. Ahmad Khalifa Al Qaizi Al Falasi, CEO of DBLC, described the initiative as a step toward “regulatory modernisation” and a more seamless investor experience. Dr Juma Al Matrooshi, Assistant Secretary-General at the Free Zones Council, said the permit enhances Dubai’s competitiveness by combining the flexibility of free zones with access to domestic markets.

Authorities expect the permit to benefit over 10,000 existing free-zone firms, adding 15–20 per cent to cross-jurisdiction business activity in its first year. Businesses can now tap domestic trading avenues and contend for government tenders previously off-limits to entities without a mainland presence. Existing free-zone staff may serve mainland operations, eliminating the need for new hiring under those permits.

Though the permit removes many structural hurdles, certain limitations and compliance obligations remain. Firms dealing in regulated activities—such as banking, healthcare, education or financial services—must still secure approvals from relevant regulators. The new scheme prohibits its use for entities within the Dubai International Financial Centre, which remains under a distinct legal regime.

The resolution introduces three permitted pathways: establishing a branch physically in the mainland, setting up a branch that operates out of the free zone, or obtaining a temporary permit for limited operations. All applications require consent from both DET and the corresponding free-zone authority. The permit regime mirrors the requirements of Resolution No. 11, which mandates separate bookkeeping and compliance under federal and local laws.

Dubai’s regulatory architecture has evolved in recent years: free zones traditionally offered full foreign ownership and streamlined processes, but lacked direct access to local markets. To counter that gap, companies often had to replicate operations via separate mainland entities or dual licences—a burden that increased costs and administrative duplication.

The new permit scheme thus signals a strategic pivot toward harmonising the city’s jurisdictional divide. Corporate law specialists note that simpler structures reduce overhead, ease governance challenges and mitigate tax or substance-test scrutiny. As one regional legal adviser put it, “Businesses can now use a single platform to expand rather than duplicating corporate filings.”

The pricing and validity terms are notable. The six-month, AED 5,000 permit is significantly more affordable and flexible than establishing a full mainland company, lowering the threshold for smaller firms and startups to experiment with onshore operations. The 9 per cent tax rate aligns with federal rules that apply to mainland income, while free-zone revenues remain eligible for preferential regimes.

By Nitya Chakraborty There is a big possibility of renewal of India-US bilateral ties impacting the ongoing trade talks following the proposed one on one meeting between the Indian Prime Minister Narendra Modi and the U.S. President Donald Trump during their presence in Kuala Lumpur to attend the summit of ASEAN members on October 26 […]

The article Trump-Modi Meet At ASEAN Summit In Malaysia Can Remove Irritants In Indo-US Ties appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Cryptocurrency markets endured a historic collapse as leveraged positions were liquidated en masse – over 1.6 million traders wiped out $19.13 billion in bets within 24 hours, data from Coinglass shows.

The crash accelerated sharply after U. S. President Donald Trump announced an additional 100 per cent tariff on Chinese imports and threatened export controls on critical software, heightening fears of a full-blown trade war. Bitcoin plunged more than 12 per cent from its recent highs, briefly sliding below $102,000 before rebounding above $113,000.

Before the sell-off, Bitcoin had breached a new all-time peak above $125,000, buoyed by institutional inflows into crypto exchange-traded funds. Governments and institutional investors had viewed digital assets as a hedge amid macroeconomic uncertainty.

Today’s market rout, however, exposed the fragility of overleveraged positions in a thinly capitalised market. In a single hour on Friday, more than $7 billion of liquidations occurred. The top losses were seen among long positions, particularly in Bitcoin and Ethereum derivatives, which accounted for a substantial share of the forced unwinds.

Institutional players and high-net-worth traders were swept up in the cascade. Market watchers noted that order books lacked the depth to absorb such a severe shock, triggering knock-on effects through futures and perpetual swap markets.

Beyond crypto, equity indices faltered under the weight of renewed global risk aversion. The S&P 500 dropped 2.7 percent, while tech stocks, sensitive to trade tensions, bore steep losses.

Some analysts likened the event to a “black swan” moment for crypto markets — a sudden shock revealing systemic vulnerabilities in a still nascent asset class. Traders operating with high leverage, little hedging, and aggressive margin policies found themselves particularly exposed.

Efforts to assess contagion effects to traditional finance are underway. Banks offering crypto derivatives and prime brokers are now scrutinising counterparty risks. Regulators in several jurisdictions may use today’s crash to justify stricter margin and leverage rules for crypto trading.

Reviewing policy implications, the tariff escalation marks a sharp pivot in U. S.–China trade strategy. Trump framed the measures as retaliation for China’s export curbs on rare earth metals, which are critical for tech manufacturing. The move signals willingness to escalate economic confrontation, with markets already pricing in broader disruption to global supply chains.

Despite the volatility, some investors are still betting on long-term resilience of digital assets. The week before the crash saw a record $5.95 billion flow into global crypto ETFs, led by U. S. allocations, suggesting that capital rotation into crypto remains strong over medium timeframes.

Liquidity providers and market makers face fresh trials. Some have temporarily withdrawn from funding markets or widened spreads to mitigate risk exposure. In highly volatile hours, arbitrage desks and algorithmic liquidity engines contributed to exaggerated price swings.

Wider sentiment has turned cautious: on-chain analytics show a rise in stablecoin inflows to exchanges, possibly reflecting flight from risk. Options markets registered growing demand for deep out-of-the-money puts, as traders brace for further downside.

Saudia’s inaugural direct passenger flight from Riyadh to Moscow landed on Friday at Sheremetyevo airport, signalling a new chapter in Saudi–Russian air connectivity. The airline plans to operate three weekly round-trip services, integrating tourism, business and diplomatic traffic between the two capitals.

The launch positions Saudia alongside Flynas, which commenced direct operations between Riyadh and Moscow’s Vnukovo airport in August with three weekly flights. Flynas is also slated to begin a Jeddah–Moscow route come December. The twin developments reflect a concerted push by both states to deepen bilateral ties through aviation links.

The Riyadh–Moscow air bridge is underpinned by the Saudi Tourism Authority and the Air Connectivity Program, designed to promote cross-border mobility and support Saudi Vision 2030. Saudia officials say ticketing and scheduling are aligned to accommodate business travellers, diplomats and leisure tourists. The route’s launch was celebrated in both capitals, where it was honoured with a water cannon salute at Sheremetyevo and a gala in Moscow attended by diplomatic representatives and aviation executives.

Russia has experienced a surge in travellers from Saudi Arabia. In 2024, over 52,400 Saudis visited Russia, a leap from just 9,300 the previous year, following Moscow’s August 2023 e-visa reform that enabled Saudis easier access. Likewise, Russian visitors to the Kingdom have grown steadily, aided by anticipatory visa liberalisation and reciprocal travel facilitation efforts.

Russian Foreign Minister Sergey Lavrov, during talks with his Saudi counterpart, described the launch as an enabler of “tourist exchanges and business contacts,” citing that growing demand warranted direct air links. On the ground, Sheremetyevo’s scheduling system already lists flights to Riyadh beginning mid-October, operating up to five times weekly.

The timing dovetails with a broader recalibration in Saudi foreign policy and energy diplomacy. The personal rapport between Crown Prince Mohammed bin Salman and President Vladimir Putin has been instrumental in facilitating cooperation within the OPEC+ framework. Cooperation in trade, energy and security has steadily flourished in recent years, and aviation ties now offer a tangible bridge between economies.

Saudia’s fleet expansion and network strategy underscore that the Moscow link is more than symbolic. The airline now serves over 100 destinations across four continents, with plans to expand to 145 destinations by 2030. Performance figures underscore ambition: in the first half of 2025, Saudia carried 17.5 million passengers and operated 100,000 flights.

The route is expected to spur ancillary sectors. Saudi tour operators are preparing Russia-focused packages including Moscow, St Petersburg, and beyond, while Russian travel agencies are packaging Saudi cities and pilgrimage circuits. Pilgrim traffic is especially significant: the Moscow launch could funnel more Russian pilgrims directly to Mecca or Medina via Riyadh.

Dubai — DOOGEE is rolling out a bold “Tech For Nature” showcase at GITEX GLOBAL 2025, positioning itself at the intersection of rugged devices and sustainability. From 13 to 17 October, the company will host its exhibit at booth A40 in Hall 13, where its outdoor-oriented hardware and eco-aware design features will be on full display.

DOOGEE describes the exhibit as centred around its “Tech Impact” zone, a curated space meant to demonstrate how its devices can withstand extreme conditions while serving the needs of explorers, scientists, and rescue personnel. The lineup includes models engineered for shock, heat, immersion, and drops — with features aimed at bridging utility and resilience.

Among the highlight products is the V Max Play, which pairs a high-capacity battery with a 200 MP main camera and integrates a mini projector for on-the-go displays. DOOGEE also plans to exhibit the S200 Ultra, built with aluminium-titanium alloy framing and a rear display for rapid glanceable information. Wearables and peripheral devices are similarly designed for outdoor resilience: the Anywise W1 Pro watch offers dual-band GPS, 5ATM water resistance, and offline map capability, while BoneAir Swim provides bone conduction audio under IP68 waterproof rating.

The firm frames “Tech For Nature” as both a mission and a product philosophy—suggesting that its devices should “coexist with nature” rather than merely tolerate it. In its public communications, DOOGEE emphasises use of sustainable materials and energy-efficient design elements. For instance, it references the use of recycled coffee grounds in casing composites and UV-responsive surfaces that shift hues with ambient light.

DOOGEE is no stranger to rugged or niche technology showcases. Earlier in 2025, the company participated in GITEX Europe, where it spotlighted AI-enhanced rugged devices and wearables built for industrial and outdoor environments. The Dubai event, by contrast, marks its largest commitment yet to the consumer-facing “outdoor tech” narrative.

Analysts note that DOOGEE is entering a competitive space where brands like CAT, Ulefone, and Blackview already target the rugged market segment. To distinguish itself, DOOGEE appears to lean into hybrid positioning: ruggedness plus eco credentials. “The idea is to appeal to users who don’t want to sacrifice environmental sensibility for durability,” commented one industry observer.

GITEX GLOBAL 2025 is itself a major platform: this 45th edition of the event draws participants across AI, quantum, data centres, and startup ecosystems. DOOGEE’s exhibit is aligned with the trend of hardware firms emphasizing sustainability, resilience, and experience-driven product showcases.

Visitors at booth A40 will have hands-on access to the full “Tech For Nature” suite, including tablets, phones, wearables, and audio gear. DOOGEE is also promoting discounts on first orders for attendees and encouraging media and partners to trial devices on-location. Beyond demonstration, the firm is signalling intention to gear up distribution and service channels in regions where demand for rugged outdoor gear is rising.