By Nitya Chakraborty The New Year 2025 has started in the backdrop of the restoration of the ruling party BJP’s confidence following its electoral successes in the state assembly elections in Maharashtra and Haryana and completely overshadowing the Samajwadi Party in the assembly by polls in Uttar Pradesh. The Party leadership of the BJP and […]
Elevating Urban Living with Holistic Wellness and Timeless Elegance: Proud Real Estate Redefines Luxury with Romm Convent, Bangkok’s Premier Wellness Residence in the Heart of Convent-Sathorn BANGKOK, THAILAND – Media OutReach Newswire – 30 December 2024 – In the bustling heart of Bangkok’s prestigious Convent-Sathorn area, Proud Real Estate Plc. introduces Romm Convent, a beacon of luxury wellness living designed for the discerning urbanite. Amidst a thriving […]
These days, laptops are such a part of our lives. It has indeed helped in giving us the lead to keep connected, productive and entertained as well. Amongst best-selling reliable and versatile laptops available in the market is HP, which is marked with performance and durability. Despite always having a price tagged when it comes to buying a brand-new HP laptop. This is where refurbished HP laptops […]
Dubai Taxi Company PJSC (DTC), a leading mobility solutions provider in Dubai, has unveiled an ambitious corporate strategy for 2025–2029, aiming to maintain its leadership in the taxi market while expanding into new sectors such as limousine services and delivery. The company also plans to explore untapped markets across the UAE and the broader region. The strategy targets double-digit growth across DTC’s portfolio, coupled with a high […]
By Anjan Roy Thirty-three years are half a lifetime. Thirty-three years ago, Dr Manmohan Singh stepped into a high-profile limelight, well after his formal retirement from a senior government job. When he died last Friday at the age of 92, he was considered India’s greatest finance minister and the architect of India’s modern economy. There […]By Manish Rai While on my recent visit to Iraqi Kurdistan, I visited several frontline positions of the Peshmerga forces, where they are facing the Iraqi Army and active ISIS cells. Firstly, I visited Brigade 14 headquarters near Dibak, approximately 60 km from the Kurdistan capital, Erbil. There, I met with Brigadier General Almi Mzuri; he is a seasoned soldier who worked in the Iraqi Army for […]
By Dr. Gyan Pathak The Indian National Congress has postponed the grand convention – Jai Gandhi, Jai Bhim, Jai Samvidhan – on the second day of the Extended Congress Working Committee Meet at Belagavi in Karnataka. Instead, a condolence meeting was held to mourn the sad demise of the former Prime Minister Manmohan Singh. But […]Equinix, a leading global digital infrastructure company, has announced an agreement to acquire BT Group’s data center operations in Ireland for €59 million. The transaction encompasses two carrier-neutral facilities located in Dublin’s Citywest and Ballycoolin areas, collectively covering approximately 150,000 square feet. Subject to regulatory approvals, the deal is anticipated to conclude in the first half of 2025. This strategic move aligns with BT’s ongoing shift towards […]
Abu Dhabi’s tourism industry is experiencing significant growth, marked by a substantial increase in visitor numbers and a corresponding expansion of its workforce. From January to October 2024, the emirate welcomed 4.8 million hotel guests, surpassing pre-pandemic figures and achieving a 26 percent increase in international arrivals compared to 2023.
This surge in tourism has been accompanied by a notable rise in employment within the sector. The World Travel & Tourism Council (WTTC) forecasts that by the end of 2024, the UAE’s travel and tourism sector will employ nearly 833,000 individuals, reflecting an increase of more than 23,500 jobs from the previous year.
Abu Dhabi’s ambitious Tourism Strategy 2030 aims to further elevate the sector’s contribution to the economy. The strategy sets a target of attracting 40 million visitors and generating 178,000 new jobs by 2030, which would bring the total employment in the tourism sector to approximately 366,000.
The emirate’s hotel industry has mirrored this upward trend. In the first five months of 2024, Abu Dhabi hotels received over 2.4 million guests, generating revenues totaling AED 3.18 billion. The distribution of hotel guests during this period was as follows: 498,700 in January, 507,400 in February, 433,700 in March, 500,080 in April, and 471,800 in May.
The UAE’s broader tourism sector has also demonstrated robust performance. In the first half of 2024, hotel establishment revenues across the seven emirates increased by 7 percent to reach AED 24.6 billion. The number of hotel guests during this period reached approximately 15.3 million, reflecting a 13 percent growth compared to the same period in 2023.
Abu Dhabi’s commitment to enhancing its tourism offerings is evident in its strategic initiatives and investments. The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) has been instrumental in promoting the emirate as a premier global destination, focusing on cultural tourism, heritage preservation, and the development of world-class attractions. Notably, more than 3.9 million visitors have engaged with Abu Dhabi’s cultural sites, museums, and landmarks, underscoring the increasing importance of cultural tourism as part of the city’s diverse offerings.
The private sector has also played a pivotal role in this growth trajectory. Etihad Airways, the state-owned Abu Dhabi carrier, reported a 66 percent increase in net profit for the first nine months of 2024, earning AED 1.4 billion compared to AED 814 million in the same period the previous year. This financial upturn is attributed to a 35 percent increase in passenger traffic, with the airline transporting 13.6 million passengers over the year.
The expansion of the tourism sector has had a positive ripple effect on employment. The WTTC forecasts that by 2034, the sector will contribute more than AED 275 billion to the UAE economy, accounting for almost 11 percent of the GDP, and is projected to employ over 928,000 people across the country, with one in nine residents working in the sector.
Abu Dhabi’s strategic vision for tourism is not only focused on increasing visitor numbers but also on enhancing the quality of experiences offered. The emirate is investing in infrastructure development, regulatory improvements, and the advancement of digital transformation in civil aviation to support the ongoing travel recovery and ensure seamless and secure cross-border mobility.
MOSCOW, RUSSIA – Media OutReach Newswire – 24 December 2024 – Wildberries, a leading e-commerce platform in Eurasia, will increase its warehouse capacity by more than twofold in 2025 to support its dynamic growth. The Company is currently finalizing the construction of warehouse complexes with a total area of more than 2.3 million square meters (equivalent to over 320 football fields) in its regions of operation. Most […]
Employers in the ICT and Creative Media Industries Place Greater Emphasis on Soft Skills; Growing Recognition for Higher Diploma Graduates’ Competencies HONG KONG SAR – Media OutReach Newswire – 20 December 2024 – Led by Hong Kong Baptist University (HKBU) and funded by The Hong Kong Jockey Club Charities Trust, the Jockey Club Multiple Pathways Initiative – CLAP-TECH Pathway (CLAP-TECH) has conducted its second annual survey, exploring […]
Despite significant challenges posed by extreme weather conditions in Indonesia and Australia, Delta Dunia Group reported a stable revenue of USD 1.35 billion during 9M 2024. EBITDA for 9M 2024 declined by 16% YoY to USD 252.3 million, impacted by weather-related production declines and planned investments. Net loss significantly improved to USD 17.4 million, down from USD 26.6 million reported in 1H 2024, despite a 20% increase […]
As the new year approaches and the book on an eventful year in the energy world closes, 2025 looks set to bring more volatility, geopolitical tension and policy evolutions. Elections in almost all major global economies in 2024 have set the stage for a shifting policy landscape next year, most notably in the US, as President-elect Donald Trump outlines his priorities and plans for the incoming administration. […]
Dusit Princess Chiang Mai reopens with a fresh new look, enhanced guest experiences, and participation in the ‘Get Ready for Northern Tourism Campaign. dusitD2 Fagu, Shimla, the first Dusit-branded hotel in India, makes its debut in the Himalayas. BANGKOK, THAILAND – Media OutReach Newswire – 18 December 2024 – Dusit Hotels and Resorts, under Dusit International, one of Thailand’s leading hotel and property development companies, is welcoming […]
The Middle East’s mergers and acquisitions (M&A) landscape has demonstrated remarkable resilience and growth in the first half of 2024, with total deal values reaching $49.2 billion across 321 transactions. This performance contrasts sharply with the global M&A market, which has experienced a downturn during the same period. A significant portion of this activity is attributed to sovereign wealth funds (SWFs) and government-related entities (GREs) in the […]
KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 18 December 2024 – 2024 has been a year of contradictory events, significant economic changes, and major political shifts. On a positive note, it was the year when global central banks finally managed to tackle inflation, partly induced by the negative and far-reaching effects of the COVID pandemic and partly by the more recent geopolitical events. After holding borrowing […]
By Nitya Chakraborty Leftwing Democratic senator Bernie Sanders is a veteran self proclaimed socialist who has been consistently fighting for drastic cut in the budget of the U.S. military since his election as a young senator from Vermont decades ago. In the November elections, he won his seat for the fourth time for another six […]The Arab Coordination Group (ACG), an alliance of ten prominent development finance institutions, has pledged up to $10 billion by 2030 to address the escalating challenges of land degradation, desertification, and drought. This significant commitment was announced during the Ministerial Dialogue on Finance at the 16th session of the Conference of the Parties (COP16) to the United Nations Convention to Combat Desertification (UNCCD), held in Riyadh, Saudi […]
MicroStrategy has further cemented its position as one of the largest corporate holders of Bitcoin, completing the acquisition of an additional 15,350 BTC for $1.5 billion, translating to an average price of approximately $100,386 per Bitcoin. This latest purchase marks a significant move for the company, reinforcing its bullish stance on the cryptocurrency as part of its long-term strategy.
The firm, led by Michael Saylor, now holds a total of 439,000 BTC, valued at around $27.1 billion. This represents a major commitment to the digital asset class, with an average purchase price of $61,725 per Bitcoin. The recent acquisition comes amid a highly volatile period for Bitcoin, reflecting MicroStrategy’s ongoing belief in the asset’s potential to appreciate over time despite fluctuations in market prices.
This move is part of MicroStrategy’s broader strategy, which has seen it steadily accumulate Bitcoin over several years. The company began its Bitcoin acquisition spree in August 2020, making waves with its decision to adopt Bitcoin as its primary treasury reserve asset. At the time, it was one of the first major publicly traded companies to make such a bold commitment. Since then, MicroStrategy has continued to expand its holdings, with the total now approaching half a million BTC.
The firm’s investment strategy has been both aggressive and disciplined. The recent purchase of 15,350 BTC is one of the largest single acquisitions the company has made, a testament to its confidence in Bitcoin’s future. With a BTC yield of 46.4% quarter-to-date and 72.4% year-to-date, the performance of its holdings has demonstrated significant growth, providing strong returns on investment amid the digital currency’s price movements. Despite the volatility of Bitcoin’s market, these figures underline MicroStrategy’s strategy of holding long-term, seeing fluctuations as temporary rather than risks to the investment.
MicroStrategy’s focus on Bitcoin has not been without its critics, especially given the volatility that the cryptocurrency market can exhibit. Yet, the company’s commitment to holding its Bitcoin rather than liquidating it has helped the firm weather some of the market’s downturns. For instance, when Bitcoin’s value dropped significantly in mid-2022, many investors reassessed their positions, yet MicroStrategy maintained its stance, reaffirming its strategy.
The recent surge in Bitcoin’s price in the latter part of 2023 and into 2024 has only bolstered MicroStrategy’s position. While Bitcoin’s market value has fluctuated over time, with sharp dips followed by recoveries, the price stability seen recently suggests that its adoption as a store of value is gaining broader acceptance. The digital currency has seen increasing interest from institutional investors, signaling a shift in market sentiment towards Bitcoin as a long-term asset rather than a speculative instrument.
MicroStrategy’s massive Bitcoin position has also had implications for the company’s financial health. The firm has financed many of its Bitcoin purchases through a combination of cash reserves and debt offerings, including a significant issuance of convertible senior notes. This strategy has allowed MicroStrategy to leverage its position in the cryptocurrency without diluting its equity.
As Bitcoin adoption continues to grow among institutional investors and corporations, the role of companies like MicroStrategy in shaping market trends becomes more apparent. Their buying patterns not only influence Bitcoin’s price movements but also signal to other investors the viability of cryptocurrency as part of a diversified investment portfolio.
The corporate adoption of Bitcoin, exemplified by MicroStrategy’s approach, has also sparked broader discussions about the future of digital currencies and their integration into the global financial system. While many countries are still grappling with the regulatory implications of cryptocurrencies, the rising influence of institutional players points to an inevitable shift towards digital assets in the broader financial ecosystem.
Despite the challenges of regulatory uncertainty and market volatility, MicroStrategy’s bet on Bitcoin has proven to be a long-term strategy rather than a short-term speculation. The firm’s actions illustrate a deep belief in Bitcoin as a foundational asset for the future, even as the broader market adjusts to its unpredictable nature.
By Nantoo Banerjee China’s sudden change of mind to uphold peace and tranquility with India at the Line of Actual Control (LAC) and work for early resolution of outstanding issues should not be read beyond these words as framed at the joint declaration at the end of the 30th meeting of the Working Mechanism for […]
By Dr. Nilanjan Banik On November 30, Mr. Donald Trump posted a threat on his social media, warning that if BRICS countries abandon the US dollar, they would face a 100% tariff. This is not a new threat; similar warnings have also been directed at other regions, including nearshore friendly countries such as Mexico and […]
On November 10, 2024, Dubai hosted the second Russian Design Forum, a key event for design and architecture professionals organized by Olga Melnikova. The Forum, which gathered more than 250 Russian-speaking professionals, became an important platform for sharing experience and establishing contacts in the international design environment. Special attention was paid to the development of design in the Emirates, where Russian designers are confidently asserting themselves, setting […]
New supply to weigh on office sector rental levels, while core retail high street rents continue to recover Grade A office year-to-date (YTD) net absorption as at mid-November recorded 1 million sq ft, with overall rents down by 5.9% in the same period. Rents are forecast to experience further downwards pressure in the 7%–9% range in 2025. Prime retail high street store leasing momentum slightly picked up […]
Increasing global insolvency levels heighten risks for executives. The febrile geopolitical landscape poses liability challenges for global corporations caught up in world events. “AI washing” is an emerging risk trend, leading to securities class action lawsuits. D&O market remains competitive but a step up in scrutiny of corporate conduct around the globe means loss potential is still high. SINGAPORE – Media OutReach Newswire – 5 December 2024 […]
