VideoLAN, the creator of the popular media player VLC, has marked its 20th anniversary with a bold leap forward in the tech world. The open-source project, renowned for its adaptability and reliability, has achieved a remarkable milestone by successfully integrating its player with the Lunar Reconnaissance Orbiter , enabling users to view space exploration footage in real-time. This move not only celebrates VLC’s two decades of innovation […]
National Central Cooling Company PJSC , a leading district cooling provider in the United Arab Emirates, has successfully issued a $700 million five-year green sukuk. This strategic move underscores the company’s commitment to sustainable financing and positions it prominently within the rapidly expanding green finance sector. The sukuk, structured under Regulation S, carries a fixed profit rate of 5.29% per annum, with payments scheduled semi-annually. Initially marketed […]
Abu Dhabi National Oil Company has formalised a 15-year sales and purchase agreement with Japan’s Osaka Gas, committing to supply up to 0.8 million tonnes per annum of liquefied natural gas from its Ruwais LNG project. This definitive contract transitions a prior heads-of-agreement into a binding commitment, marking the inaugural long-term LNG supply arrangement between the two corporations. The Ruwais LNG facility, currently under development in Al […]
GEMS Education, a prominent Dubai-based private school operator, has unveiled plans to invest approximately $300 million over the next two to three years to drive organic growth. CEO Dino Varkey detailed this strategic initiative, emphasizing the company’s intent to capitalize on the region’s burgeoning population and the influx of affluent residents. This substantial investment aligns with GEMS Education’s broader strategy to enhance its educational offerings and infrastructure. […]
DP World has achieved a significant milestone in 2024, processing a record 1.3 million vehicles across its Dubai terminals. This figure represents a 53.6% increase from the previous year and stands as the highest volume in the company’s history. The flagship Jebel Ali Port was pivotal in this achievement, managing nearly 960,000 units and reinforcing its status as the region’s premier automotive hub. The remaining vehicles were […]
Oil prices fell on Friday, heading for their first monthly decline since November, as global economic growth uncertainties and potential fuel demand reductions weighed on the market. The more active May Brent crude futures slipped 31 cents, or 0.4%, to $73.26 a barrel by 6:48 a.m. Saudi time, while U.S. West Texas Intermediate crude futures were at $70.04 a barrel, down 31 cents, or 0.4%. The front-month […]
GRVT, a pioneering hybrid cryptocurrency exchange, has announced a strategic partnership with CoinRoutes, a leading cryptocurrency order execution management system . This collaboration aims to provide institutional traders with seamless access to advanced on-chain trading strategies, addressing the growing demand for secure and efficient decentralized finance solutions.
In January 2025, mainstream decentralized exchanges experienced a significant surge in trading volumes, reaching a record $454.1 billion—a 40% increase from December 2024’s $323.89 billion. This uptick underscores the escalating interest from institutional investors in decentralized trading platforms. GRVT’s unique hybrid model, which combines the security of self-custody with the speed of centralized exchanges, positions it as a compelling option for institutions seeking compliant and high-performance trading venues.
Through this integration, institutional clients can now access GRVT directly via CoinRoutes’ interface, unlocking a suite of sophisticated trading tools. These include smart order routing and execution algorithms designed to optimize trades across multiple liquidity pools, real-time market data dashboards for informed decision-making, and proprietary transaction cost analysis to assess and enhance execution quality. Additionally, the platform supports automated spread and multi-product trading, enabling complex strategies across various assets and trading pairs, as well as cross-exchange arbitrage and token farming opportunities.
To further incentivize institutional participation, GRVT and CoinRoutes are introducing a two-phase program. The initial phase offers exclusive signup bonuses for new institutional users onboarding through CoinRoutes. The subsequent phase provides volume-based incentives and rebates, encouraging high-frequency and large-scale trading activities.
The Group recorded US$3.52 million in total comprehensive income for FY2024 as compared to a total comprehensive loss of US$8.47 million for FY2023 The turnaround was mainly due to an increase of US$6.53 million in other income and gains, primarily driven by a US$5.96 million reversal of an impairment loss on the share of results of the Group’s 43.88%-owned associated company, Spackman Media Group Limited The reversal […]
The Open Network has witnessed a remarkable expansion in its ecosystem, primarily driven by the rapid adoption of Tether’s USDT stablecoin. Since its integration in April 2024, the circulating supply of USDT on the TON blockchain has soared to approximately $1.5 billion within a span of ten months, marking the fastest growth of any stablecoin on a blockchain to date.
This swift adoption underscores the synergistic partnership between TON and Tether, aiming to enhance peer-to-peer payment solutions, especially within Telegram’s extensive user base. The seamless integration of USDT has not only bolstered transaction volumes but also significantly increased user engagement within the TON ecosystem.
In response to this burgeoning demand, Tether has introduced the Legacy Mesh system, a bridge-free multichain liquidity solution. Launched on February 11, 2025, the Legacy Mesh connects USDT deployments across multiple blockchain networks, including TRON, Ethereum, Arbitrum, Ink, Berachain, and TON. This initiative aims to unify the $138 billion USDT market, facilitating seamless liquidity movement and enhancing the overall efficiency of stablecoin transactions.
The decentralized finance landscape on TON has also experienced substantial growth. Protocols such as STON.fi and DeDust.io have been instrumental in this expansion, with daily average trading volumes on TON’s decentralized exchanges escalating from just over $2 million to $21.4 million by December 2024. USDT plays a pivotal role in this ecosystem, accounting for over 25% of decentralized exchange volumes, thereby providing users with a stable medium of exchange and a reliable store of value.
Further enriching the TON ecosystem, Factorial Finance, a TON-based lending protocol, announced the launch of USDT borrowing services against Toncoin on February 19, 2025. This development offers users enhanced financial flexibility, allowing them to leverage their Toncoin holdings to access USDT liquidity. Since its inception, Factorial Finance has attracted over $11 million in total value locked, reflecting the growing confidence of users in TON’s DeFi offerings.
The strategic collaboration between TON and Tether has not only accelerated the adoption of USDT but has also positioned TON as a formidable player in the blockchain arena. The rapid growth trajectory of USDT on TON exemplifies the increasing demand for stable and efficient digital payment solutions, particularly within platforms boasting large user bases like Telegram.
Umm Al Qura for Development and Construction, the developer behind Makkah’s transformative Masar Destination project, has set its initial public offering price at SAR 15 per share. This pricing, at the upper limit of the anticipated range, reflects robust investor interest, with institutional orders surpassing expectations. The IPO’s institutional tranche witnessed an oversubscription rate of approximately 241 times, amassing orders totaling around SAR 473 billion from both […]
The Gulf region’s strategic importance in global supply chains is increasing as the US seeks to secure critical minerals vital for technology and clean energy. With an eye on reducing dependence on China, the US is now pivoting towards the Gulf, an area rich in natural resources and energy infrastructure, to diversify its supply of rare earth elements and minerals. Recent geopolitical shifts have made it clear […]
Dubai’s real estate market witnessed a 0.57% decline in property prices in January 2025, marking the first downturn since mid-2022. This shift suggests a potential stabilisation in a market that has seen consistent growth over the past two years.
According to Property Monitor’s latest report, the average price per square foot in January stood at AED 1,484 . Despite the price reduction, the month recorded 14,413 transactions, the highest-ever sales volume for January. However, this figure represents a 4.6% decrease compared to December 2024.
The median prices for different property types were reported as follows: apartments at AED 1,350,000, townhouses at AED 2,610,000, and villas at AED 6,915,888. These figures indicate a slight moderation in prices across various segments.
Industry experts attribute this price correction to several factors, including an increase in housing supply and a natural market adjustment following a prolonged period of rapid price escalation. The surge in property values over the past two years has been partly driven by an influx of high-net-worth individuals seeking luxury residences in Dubai.
In response to the growing demand, developers have accelerated construction projects. Notably, nearly 9,000 villas are slated for completion by the end of this year, with an additional 19,700 expected by 2025. This expansion aims to address the housing needs of a population projected to reach 5.8 million by 2040.
While the luxury segment has been a significant driver of the market, there are emerging concerns about affordability for middle-income residents. The rapid appreciation in property values has led to increased living costs, prompting discussions about sustainable growth and the necessity for diverse housing options.
Uber, in partnership with Dubai’s Roads and Transport Authority , has unveiled ‘Uber School,’ a transportation service tailored for students aged eight and above. This initiative aims to provide families with a cost-effective and secure solution for daily school commutes. Operating between 6 AM and 6 PM, Uber School aligns with standard school hours and accommodates extracurricular activities. Parents can anticipate savings of up to 35% on […]
SHANGHAI, CHINA – Media OutReach Newswire – 27 February 2025 – Chinese animated blockbuster Ne Zha 2 has taken Hong Kong by storm, topping the city’s box office charts for four consecutive days since its release. As of now, its cumulative earnings in Hong Kong have surpassed $2.07 million, securing its position as 2025’s highest-grossing film in the region. The premiere of the Chinese animated blockbuster “Ne […]
Singapore’s fintech investment recalibrated to US$1.3 billion in 2024, in line with global shifts toward sustainable growth. Crypto and blockchain investment increased 22 percent in H2’24 to US$267 million, driven by AI-integrated solutions. AI-powered fintech surged, with investment jumping from US$24 million in H1’24 to US$160 million in H2’24, reflecting demand for regtech and automation. H2’24 fintech deal value grew 41 percent, reflecting a shift toward high-value, […]
SINGAPORE – Media OutReach Newswire – 27 February 2025 – As Southeast Asia emerges as a hub for conversational commerce, Crescendo Lab is redefining customer engagement with AI-powered solutions. With the conversational AI market projected to exceed $18 billion by 2026 and messaging adoption surpassing 90% in Asia, seamless communication is now essential for businesses. Expanding into Singapore, Crescendo Lab integrates AI-powered tools with WhatsApp, empowering local […]
Finnish mobile game developer Seven Stars has successfully completed a seed funding round, co-led by Spintop Ventures and Behold Ventures, with Sisu Game Ventures joining as a new investor. The investment aims to bolster the company’s mission to redefine the mobile gaming landscape. Established in 2022, Seven Stars is led by CEO Alex Le Bell, with key figures including CTO Olli Aurola and Creative Director Markus Tuppurainen. […]
Saudi Arabia’s Public Investment Fund is reportedly in preliminary discussions to acquire a stake in the aerostructures unit of Leonardo SpA, Italy’s prominent aerospace and defence company. This potential investment aligns with PIF’s strategic objective to diversify Saudi Arabia’s economy by expanding its footprint in the global aerospace sector. The aerostructures division of Leonardo is responsible for the design and manufacturing of critical components for both civil […]
Saudi Basic Industries Corporation , a global leader in diversified chemicals, has unveiled plans to implement cost-cutting strategies and explore new investment avenues following an unexpected net loss of 1.89 billion riyals in the fourth quarter of 2024. This loss surpasses the 1.73 billion riyals deficit recorded during the same period in 2023 and contrasts sharply with analyst forecasts, which had anticipated a profit exceeding 1 billion […]
International Holding Company has unveiled its financial results for 2024, showcasing a substantial 54.2% increase in revenue, reaching Dhs92.7 billion, up from Dhs60.1 billion in 2023. This impressive growth is attributed to strong performances across various sectors, notably real estate and construction, marine and dredging, and hospitality and leisure. The company’s net profit stood at Dhs25.7 billion, indicating a strategic shift towards value-driven investments. Total assets expanded […]
SINGAPORE – Media OutReach Newswire – 27 February 2025 – Prepare for an interstellar cinematic journey as “HEAVENS: The Boy and His Robot,” a groundbreaking sci-fi adventure from Singapore, 12 years in the making, achieves two unprecedented milestones. On February 28, 2025, this visionary film will be the first Singaporean movie to enjoy a wide special re-release in Japan, screening simultaneously in 50 Aeon Cinemas across the […]
By K Raveendran Tension is mounting over the Centre’s plan for offshore sand mining, with the issue rapidly evolving into yet another flashpoint between the Modi government and opposition-led coastal states. At the heart of the controversy lies not just the environmental and economic concerns raised by the affected communities but also the underlying political […]Nvidia Corporation’s stock has experienced a notable decline, influenced by production delays of its Blackwell AI chips and potential new export restrictions from the Trump administration. The company’s shares fell by 2.7% to $126.73 ahead of its quarterly earnings report, as investors express concern over these developments. The Blackwell series, Nvidia’s next-generation AI chips, has encountered significant setbacks due to overheating issues when multiple units are interconnected […]
The stock market may grab all the headlines, but behind the scenes, savvy investors are making serious moves into corporate bonds. Once seen as the dull cousin to equities, corporate bonds are having a moment as a growing number of investors recognize their ability to deliver attractive returns, stability, and a tactical hedge against volatility. If you’re not paying attention, you’re missing out on what could be […]
