Electric vehicle (EV) manufacturer Rivian surprised the automotive world last week with the reveal of two new SUVs – the R3 and the performance-focused R3X. These new additions will be the smallest in Rivian’s lineup, potentially outshining their larger siblings in terms of popularity. The R3 takes the platform of the previously announced R2 SUV and shrinks it down even further. This results in a distinctive design […]
Investors are keeping a close eye on Bitcoin as Santiment, a blockchain intelligence firm, reveals a shrinking supply of the cryptocurrency on exchanges. This trend suggests a potential decrease in overall availability, which could influence Bitcoin’s price in the near future. The concept hinges on basic principles of economics: supply and demand. When a readily available good or service becomes scarcer, its value tends to rise as […]
Bitcoin mining, the process by which new bitcoins are created and transactions are verified on the blockchain network, is facing increased scrutiny due to its surging energy consumption. According to a recent report by Bloomberg, Bitcoin miners devoured a record 19.6 gigawatts (GW) of power last month, a significant jump from 12.1 GW in 2023. This insatiable demand for electricity has environmental advocates and some within the […]
Dubai property developer, Binghatti, successfully debuted its Islamic bond, or sukuk, on the Nasdaq Dubai exchange on March 1, 2024. This marked a significant milestone for both Binghatti and the regional financial landscape. The $300 million sukuk, the first real estate benchmark dollar-denominated issuance of its kind in the Middle East and North Africa ( iced at 9.625% with a three-year maturity date, offering investors an attractive […]
Providing peace-of-mind over hygiene and health concerns SINGAPORE – Media OutReach Newswire – 7 March 2024 – In a groundbreaking leap forward for disinfection standards and hygiene practices, SNAPCLEAN introduces a cutting-edge sterilisation machine designed to combat the ongoing threat of respiratory infections, flu outbreaks and other contact diseases like hand, foot, and mouth disease (HFMD) in the post-pandemic era. As communities worldwide grapple with the lingering […]
Arabian Post Special Dubai, a city known for its glitz and luxury, is facing a potential rent squeeze for its residents. The revision of the Real Estate Regulatory Authority’s (RERA) rent calculator, a tool used to determine permissible rent increases, is raising concerns about a significant rise in housing costs. This comes at a time when the cost of living in Dubai has already been steadily climbing, […]
Dubai has implemented a new tax regime for foreign banks operating within its borders. The law, issued by Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai, applies a 20% tax on the annual taxable income of foreign banks. This move signifies a shift in Dubai’s economic strategy, potentially impacting the emirate’s position as a financial hub. The new legislation specifically targets foreign banks operating outside […]
Larry Fink, CEO of BlackRock, the world’s largest asset manager, has caused a stir in the financial world by publicly endorsing Bitcoin. In a recent interview, Fink referred to the cryptocurrency as “digital gold,” highlighting its potential as a long-term store of value. This shift in stance from a previously skeptical BlackRock reflects a growing institutional interest in the digital asset class. Fink’s comments come amidst concerns […]
In a decision with potentially significant ramifications for the cryptocurrency industry, a court has authorized investors to proceed with a class-action lawsuit against Binance, the world’s largest cryptocurrency exchange. The lawsuit, filed in 2021, accuses Binance of misleading investors about its regulatory compliance and security measures. The plaintiffs allege that Binance misrepresented itself as a fully licensed exchange operating within legal frameworks. They claim this enticed them […]
On the eve of the so-called low season in the residential rental market in Dubai, experts from the rental and property management international company Colife have identified a new interesting trend. People are no longer afraid of the sizzling heat; demand among tenants is already evident both in the summer months and in the period from April, the month from which the so-called low season begins, when […]
A new study by AI startup Patronus AI raises concerns about copyright infringement by large language models (LLMs). The research focused on how frequently these powerful AI systems could generate content replicating copyrighted material. Patronus evaluated four prominent LLMs: OpenAI’s GPT-4, Anthropic’s Claude 2.1, Meta’s Llama 2, and Mistral’s Mixtral. The test involved prompting the models with questions related to popular copyrighted books. These prompts fell into […]
The Federal Bureau of Investigation (FBI) has revealed a significant rise in cryptocurrency investment fraud in 2023. According to their report, victims lost a staggering $3.94 billion to such scams, representing a 53% increase compared to the previous year. This surge comes amidst a broader decline in the cryptocurrency market, highlighting the evolving tactics of cybercriminals who continue to exploit investor interest in digital assets. While the […]
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Arabian Post Special Dubai, long a haven for international finance with its tax-friendly policies, has shaken things up with a new law imposing a 20% annual tax on foreign banks operating within the emirate. This move marks a significant shift and has far-reaching implications for both Dubai’s financial landscape and the strategies of foreign banks in the region. One key aspect of the law is its targeted […]
Nestled in the idyllic embrace of Fiji lies Kokomo Private Island, a 140-acre sanctuary promising an unparalleled escape. This award-winning resort caters to discerning travelers seeking a blend of luxurious amenities, unparalleled relaxation, and a deep connection with Fiji’s natural beauty. Kokomo’s exclusivity starts with its very access. A short seaplane ride from Nadi International Airport transports guests to a world away, where crystal-clear waters lap at […]
James M Dorsey The Gaza war has turned Palestine into a lightning rod for mounting frustration and discontent in Arab autocracies such as Egypt, Jordan, Tunisia, Algeria, and Morocco. Concerned that the war could mobilise segments of civil society, Saudi Arabia and the United Arab Emirates where any form of public protest is banned, have cracked down on expressions of solidarity with Gaza, including the sporting of […]
Rulers of the United Arab Emirates (UAE) sent messages of congratulations to King Hamad bin Isa Al Khalifa of Bahrain on the 25th anniversary of his accession to the throne. This momentous occasion, referred to as the Silver Jubilee, marks a significant milestone in Bahrain’s recent history. The messages, delivered by the Supreme Council Members and Rulers of each of the seven emirates, conveyed warm wishes and […]
Retail investors are returning to the cryptocurrency market, signaling a potential thaw after a chilly period in late 2023. Data suggests a significant rise in user engagement. Compared to traffic levels between August and October last year, cryptocurrency exchange websites have seen a surge of 45% in visitors. Market data platforms like CoinMarketCap and CoinGecko, which provide users with information on cryptocurrency prices and trends, have witnessed […]
A recent, widespread outage of major social media platforms, lasting for several hours, has sparked renewed discussions about our reliance on these digital tools. Millions of users across the globe found themselves disconnected from popular platforms like Facebook, Instagram, and Messenger, leading to both frustration and a wave of introspection. While the disruption itself was temporary, it served as a stark reminder of the profound role social […]
Do Kwon, the co-founder of Terraform Labs, whose cryptocurrency project TerraUSD (UST) experienced a dramatic collapse in 2022, may soon face legal proceedings in South Korea. This comes after a Montenegrin court recently ruled in favor of his extradition, though the final decision rests with the country’s Minister of Justice. South Korean authorities issued an arrest warrant for Kwon in May 2023, accusing him of fraud and […]
Driven by the looming threat of rising sea levels and a limited land area, Singapore is exploring the ambitious construction of a new landmass dubbed “Long Island.” This proposed project, if realized, would significantly reshape the country’s coastline and provide much-needed space for future development. Singapore, a densely populated island nation, faces a unique challenge: a significant portion of its land lies less than 5 meters above […]
Nigeria’s Securities and Exchange Commission (SEC) has announced an update to its guidelines for cryptocurrency service providers, aiming to curb criminal activity within the country’s digital asset market. This move follows a recent government action blocking access to several prominent cryptocurrency platforms, including Binance, Coinbase, and Kraken. The updated SEC guidance focuses on preventing “criminals” from registering as operators within the capital market, according to a report […]
Tether, the issuer of the world’s leading stablecoin USDT, has signed a Memorandum of Understanding (MOU) with Uzbekistan’s National Agency of Perspective Projects (NAPP). This collaboration signifies a significant step towards fostering crypto asset adoption and establishing a robust regulatory framework within the Central Asian nation. The MOU outlines a collaborative effort to explore and promote the development and adoption of various blockchain technologies in Uzbekistan. These […]
A Long Island community dedicated to vegan living has been left reeling after a local market, Cindy’s Snacks, revealed that the doughnuts they had been selling as homemade, vegan, and gluten-free were, in fact, none of the above. The discovery has sparked concerns about transparency and trust within the community, with many questioning the motivations behind the alleged misrepresentation. The revelation came to light after a customer, […]
The Commodity Futures Trading Commission (CFTC) is taking a step towards clearer regulation in the digital asset space. On Wednesday, the CFTC’s Global Markets Advisory Committee (GMAC) voted to advance a “digital assets taxonomy” for agency review. This framework aims to standardize the terminology used for various digital assets, including cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs). Proponents of the taxonomy believe it will bring much-needed […]
