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The US Treasury Department has unveiled its long-awaited framework for taxing cryptocurrency transactions. The new regime, set to take effect in 2025, establishes clear reporting requirements for crypto brokers but postpones definitive rules for a specific segment of the industry:non-custodial wallet providers. Under the new guidelines, crypto brokers will be obligated to file 1099 forms with the Internal Revenue Service (IRS), mirroring the existing reporting structure for […]

OctaTrader’s Ideation Centre KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 28 June 2024 – Octa‘s mission as a global broker is to make trading more accessible and understandable. Catering to the most popular demands of the traders’ community, the Octa team has enhanced its proprietary trading platform, OctaTrader, by adding Space, a new toolkit in the OctaTrader ecosystem. Space is a customisable analytics hub built into […]

Al Mal Capital REIT (AMCREIT), the first real estate investment trust (REIT) on the Dubai Financial Market (DFM), has bolstered its educational sector holdings through the acquisition of Carnation Education LLC. Carnation Education holds the freehold land and buildings of Kent College Dubai, a well-established K-12 institution. This strategic move expands AMCREIT’s portfolio diversification and strengthens its presence across multiple emirates. The company now boasts assets in […]

Dubai-listed Shuaa Capital, a leading investment and financial services company in the region, is likely to hold its former largest shareholder and its auditors accountable for discrepancies identified in the company’s 2023 financial statements. The news comes after Shuaa disclosed significant errors in its 2023 financial reporting, prompting an investigation by the company’s board of directors. The investigation revealed that certain accounting practices by the former majority […]

French building materials giant Saint-Gobain has solidified its position in the international construction chemicals market by acquiring Dubai-based Fosroc for a cool $1. 03 billion. The all-cash deal, announced on June 27, 2024, is expected to close in the first half of 2025, following regulatory approvals. This acquisition marks a significant stride for Saint-Gobain’s ambitious growth strategy, particularly in high-growth regions. Benoit Bazin, Chairman and CEO of […]

HONG KONG SAR – Media OutReach Newswire – 28 June 2024 – HONMA Golf Limited (“HONMA”; together with its subsidiaries, the “Group”; HKEX stock code: 6858), one of the most prestigious golf brands worldwide, announces its consolidated annual results for the year ended 31 March 2024 (the “Period”). Financial Highlights Due to negative impact from global economic uncertainty and retail sentiments, the Group’s revenue decreased by 11.1% […]

MACAU SAR – Media OutReach Newswire – 28 June 2024 – As a significant extension of Galaxy Macau™ Integrated Resort (“Galaxy Macau”) in art and culture, GalaxyArt continues to explore and introduce both local and international arts’ representative works, presenting high-quality art exhibitions to tap into their interplay role as “Tourism plus Culture”. Organized by Galaxy Entertainment Group (GEG), the new exhibition, “Eggspression – An Immersive Art […]

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Dubai and Abu Dhabi, the glitzy emirates of the United Arab Emirates (UAE), have cemented their positions as regional leaders and climbed the ranks of the world’s most liveable cities according to the Economist Intelligence Unit’s (EIU) 2024 Global Liveability Index. The report, released on June 27th, highlights the UAE’s growing strength in liveability. Both Dubai and Abu Dhabi secured spots in the coveted “very high” liveability […]

The economic landscape of India and the United Arab Emirates (UAE) is poised for a significant transformation with the imminent launch of the India-UAE leg of the $20 billion transcontinental India-Middle East Europe Corridor (IMEC). This ambitious initiative, seen as a strategic counter to China’s Belt and Road Initiative, aims to streamline trade and bolster economic ties between the two nations. The initial phase of the project […]

Transforming the employee experience in a modern workplace and accelerating the adoption of digital access infrastructure in Asia’s commercial real estate HONG KONG SAR – Media OutReach Newswire – 28 June 2024 – Nan Fung Group (Nan Fung), a privately-held conglomerate with global interests in real estate development, has partnered with HID, a worldwide leader in trusted identity solutions, to introduce a new employee badge in Apple […]

British investors are being presented with an attractive opportunity in the burgeoning Saudi sports market, which is anticipated to reach a valuation of $22 billion by 2030. This invitation came during the UK-Saudi Sports Investment and Innovation Forum held in London, where a representative from the Saudi Ministry of Investment highlighted the vast potential of the Kingdom’s sports sector. The Saudi Arabian government is actively pursuing diversification […]

The United Arab Emirates (UAE) is set to become a major player in the Horn of Africa, leveraging its economic strength and geographical proximity to establish a foothold in the strategically important region. Analysts point to the UAE’s growing investments in logistics, maritime trade, and security partnerships as indicators of its ambitions. The Horn of Africa, encompassing countries like Ethiopia, Somalia, and Djibouti, sits at the crossroads […]

Saudi Arabia is taking a significant leap towards its renewable energy goals with the signing of Power Purchase Agreements (PPAs) for three colossal solar photovoltaic (PV) projects. ACWA Power, a leading developer and operator of power plants, joined forces with Badeel, a subsidiary of the Public Investment Fund (PIF), and SAPCO, a subsidiary of Saudi Aramco, to ink these landmark deals with the Saudi Power Procurement Company […]

Saudi Arabia’s drive for renewable energy has been significantly bolstered by a monumental agreement signed this week. ACWA Power, a prominent energy developer, joined forces with Badeel, a subsidiary of the Public Investment Fund (PIF), and SAPCO, the energy arm of Saudi Aramco, to sign Power Purchase Agreements (PPAs) with the Saudi Power Procurement Company (SPPC). This collaboration marks a significant stride in the kingdom’s ambitious goal […]

The Islamic bond market, also known as the sukuk market, in the Middle East and North Africa (MENA) region has experienced a significant surge in the first half of 2024. According to data from Bloomberg’s Capital Markets League Tables, issuance volume jumped by 48% compared to the same period last year, reaching a total of $6. 2 billion. This growth is attributed to a confluence of factors. […]

Vashi Dominguez, the charismatic jeweler who once dazzled on British television, has left a trail of financial ruin after his company collapsed, owing a staggering £170 million. The National’s investigation delves into the meteoric rise and fall of Vashi’s empire, uncovering a story of lost riches and unanswered questions. Dominguez, with his flamboyant personality and promises of revolutionizing the diamond trade, captivated investors, particularly those from the […]

Created the Responsible AI Committee in FY2022/23 and has built a 7-pillar governance framework to evaluate AI innovation across its pocket-to-cloud portfolio. Made progress toward and is on-track to meet its 2030 emissions reduction targets, in alignment to the Science Based Targets initiative’s net-zero standard. Reported an industry-leading 29% representation of women in technical teams, fueling innovation and its smarter technology for all vision. HONG KONG SAR […]

Freshworks, a customer service and IT software provider, announced the launch of a new data center in the United Arab Emirates (UAE) on June 27, 2024. This strategic move strengthens Freshworks’ presence in the Middle East and Africa (MEA) region, aiming to simplify access to its modern, AI-powered solutions for businesses. The data center, powered by Amazon Web Services (AWS), will serve as the hub for Freshworks’ […]

A recent surge in interest from international investors in India’s bond market has exposed underlying bureaucratic hurdles that could potentially impede further growth. This newfound enthusiasm stems from India’s attractive yields, particularly in comparison to developed economies with comparatively low returns. However, navigating the labyrinthine Indian regulatory framework is proving to be a significant challenge for foreign investors. According to Bloomberg, foreign investors poured a net sum […]

Arabian Post Staff -Dubai The Saudi Tadawul Group Holding Company (STG), a leading diversified capital markets group in the Middle East and North Africa (MENA) region, has solidified its position as a key market player by finalizing the acquisition of a 32. 6% stake in DME Holdings Limited. DME Holdings Limited is the parent company of the Dubai Mercantile Exchange (DME), a prominent international commodities exchange. This […]

The burgeoning world of tokenized assets presents a captivating landscape for investors, offering fractional ownership, increased liquidity, and streamlined transactions. However, this innovation also carries inherent risks that require careful navigation. By understanding these unique challenges and implementing robust mitigation strategies, investors can participate in this evolving market with greater confidence. One of the primary concerns lies in the nascent regulatory environment surrounding tokenized assets. Unlike traditional […]

KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 27 June 2024 – AI-driven solutions mushroom in the investment sector, driven by superior cost-efficiency and the general public’s unflagging interest in disrupting innovations. In this article, the experts at Octa, a global financial broker since 2011, describe the current landscape, dynamics, and directions of revolutionary changes that unfold before our eyes in FinTech and investing as AI technologies […]

The United Arab Emirates (UAE) is revamping its approach to infrastructure development and financial innovation through a two-pronged strategy. Recent government actions establish a more efficient framework for public-private partnerships (PPPs) and create a regulatory sandbox to foster financial technology (fintech) ventures. The Ministry of Finance (MoF) unveiled a Public-Private Partnership Manual outlining a standardized procedure for federal entities to collaborate with private businesses on strategic projects. […]

LONDON, UK – Newsaktuell – 26 June 2024 – A decline in effective national governance and the “long-term scars” caused by austerity measures and Brexit have stifled economic growth and undermined social cohesion in the United Kingdom, according to a study. Rishi Sunak and Ursula von der Leyen: British Prime Minister Rishi Sunak met with European Commission President Ursula von der Leyen to work on Brexit negotiations […]

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