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K Raveendran The Dubai International Financial Centre’s (DIFC) enactment of the world’s first comprehensive digital assets law this week marks a milestone, not just for the world of cryptocurrency and blockchain technology, but also for Dubai’s ambitions within the knowledge economy. This bold move positions Dubai as a frontrunner in regulating and facilitating the growth of this nascent asset class, potentially solidifying its position as a global […]

Hong Kong is ranked 10th – the only other Asian market in the top 10 most connected list Globalization reached a record high, despite pandemic and geopolitical conflict Current level of globalization at only 25 percent, citing large potential to continue growing global flows Evidence points to robust intra-Asia trade flows and intercontinental trade demand between Asia and the West SINGAPORE – Media OutReach Newswire – 13 […]

The cryptocurrency market is abuzz with renewed optimism as Bitcoin, the world’s leading digital currency, experiences a significant surge in daily investment. Data indicates that capital inflows into Bitcoin have reached $2 billion, a level last witnessed during previous bull markets. Analysts predict that this trend is likely to continue, potentially reaching even greater heights, fueled by the much-anticipated introduction of spot exchange-traded funds (ETFs). Spot ETFs […]

Saudi Arabia is poised for a metamorphosis. Long known for its oil reserves and conservative traditions, the kingdom is now setting its sights on a future gleaming with innovation and futuristic megacities. This ambitious vision, spearheaded by Crown Prince Mohammed bin Salman’s “Vision 2030” plan, aims to diversify the economy, attract foreign investment, and position the country as a regional leader in technology and sustainability. The centerpiece […]

South Korea’s National Tax Service (NTS) is taking a significant step towards clamping down on cryptocurrency tax evasion with the development of a virtual asset tax system. This system, expected to be operational by 2025, aims to enhance transparency in the burgeoning virtual asset market and ensure fair taxation practices. The move comes amidst a global surge in cryptocurrency investment, fueled in part by the recent approval […]

Elon Musk, a prominent figure in the technology industry, has reignited discussions about artificial intelligence (AI) with his recent predictions on its development. In a social media post, Musk suggested that AI could surpass the cognitive abilities of individual humans within the next year. He further projected that by 2029, AI might even exceed the collective intelligence of all humanity combined. These statements echo similar sentiments expressed […]

BlackRock’s iShares Bitcoin Trust (IBIT), launched in February as part of a wave of U.S. spot Bitcoin ETFs, has surpassed a major milestone in its holdings. The fund now manages over 200,000 bitcoins (BTC), reflecting a strong investor appetite for the world’s leading cryptocurrency. This rapid accumulation highlights the growing interest in Bitcoin among institutional investors. BlackRock’s ETF, designed to provide a more traditional investment vehicle for […]

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SINGAPORE – Media OutReach Newswire – 13 March 2024 – To strengthen platform security and provide more diverse services to the market, renowned cryptocurrency exchange DAOX has announced the hosting of an Asia-Pacific developer conference in May. With the rapid development of blockchain and cryptocurrencies, DAOX Exchange, as a decentralized digital securities asset trading service platform, is committed to providing users with a secure and reliable trading […]

Music streaming giant Spotify is making a splash in the world of blockchain technology. In a move designed to streamline artist compensation, Spotify has acquired Mediachain, a Brooklyn-based startup specializing in blockchain solutions for the music industry. This acquisition signals Spotify’s intent to leverage blockchain’s secure and transparent ledger system to revolutionize how artists are paid for their work. The current system for compensating artists on streaming […]

The Dubai Multi Commodities Centre (DMCC) witnessed a surge in new companies in 2023, solidifying its position as a leading business hub. With a record-breaking year nearly achieved, DMCC welcomed a staggering 2,692 new businesses, bringing the total number of companies in its district to over 24,000. This significant growth is attributed to a combination of factors. The launch of new industry-specific ecosystems catered to diverse business […]

Jamie Dimon, CEO of financial giant JPMorgan Chase, reignited the debate on Bitcoin’s legitimacy during a recent interview. While acknowledging the right to invest in the cryptocurrency, Dimon expressed skepticism about its underlying value and potential benefits. “I don’t know what the bitcoin itself is for,” Dimon remarked, drawing a comparison to cigarettes. “I’ll defend your right to buy a bitcoin, just like I’d defend your right […]

NTT Innovation Alliance Program creates a collaborative platform in Hong Kong, leveraging the company’s expertise and docomo business’ success in Hong Kong and Japan to co-create within a diverse tech ecosystem that encompasses enterprises, partners, universities and startups to commercialize future-ready solutions from Proof-of-Concept to the Go-to-Market stage. Partners in the program thus far include leading innovation hubs Cyberport and HKSTP, research center LSCM, academic research partners […]

The Bureau of Labor Statistics released its latest Consumer Price Index (CPI) data today, indicating a slight moderation in inflation. Year-over-year inflation came in at 3.1%, down from 3.5% in January. This is also marginally better than the forecasted rate of 3.2%. The monthly increase in prices remained steady at 0.4%, meeting analysts’ expectations. The report offers some relief to the Federal Reserve as it navigates the […]

HONG KONG SAR – Media OutReach Newswire – 12 March 2024 – The Jockey Club Multiple Pathways Initiative – CLAP-TECH Pathway (CLAP-TECH), funded by The Hong Kong Jockey Club Charities Trust, celebrated its fifth anniversary on Friday, 8 March. The ceremony was attended by over 130 industry partners and representatives from participating secondary schools, who shared how the programme has inspired students to pursue their dreams and […]

Dubai’s real estate market is experiencing a surge in demand thanks to the emirate’s Golden Visa program, which offers investors a 10-year residency permit. This influx of interest is causing a shift in both buyer behavior and developer strategies. Industry insiders report a growing trend of investors increasing their budgets to meet the minimum investment threshold of AED 2 million (USD 545,000) required for the Golden Visa. […]

The United Arab Emirates (UAE) has taken a significant step towards bolstering its position as a global leader in artificial intelligence (AI) adoption. On February 20, 2024, the UAE Artificial Intelligence, Digital Economy, and Remote Work Applications Office (UAE AI Office) signed a collaborative agreement with the United Nations Development Programme (UNDP). This partnership aims to propel advancements in AI research and development (R&D) while empowering talent […]

India’s IT hub, Bengaluru, is grappling with its most severe water shortage in its history. The city, founded by Kempe Gowda nearly 500 years ago, finds itself echoing the water woes of Cape Town in 2018. Over 30 localities are now on a strict alternate-day water supply, raising fears of a “Day Zero” – the day the taps run dry. Experts point to a confluence of factors […]

BENGALURU, INDIA – Media OutReach Newswire – 12 March 2024 – VinAI is thrilled to announce its participation in the prestigious CAEV Expo in Bengaluru, India, on March 14-15, 2024. At the Expo, VinAI will showcase InteriorSense and SurroundSense, two advanced AI solutions for Next-generation Smart Mobility. Jelly View – Transparent car view feature. VinAI booth will be located at booth number HB 102-103 at the Karnataka […]

Global fund managers are pouring more money into China, signaling a growing sense of optimism in the world’s second-largest economy. This surge in investment comes amid a backdrop of China’s industrial advancements and supportive government policies aimed at attracting foreign capital. Hu Qimu, a deputy secretary-general at the digital-real economies integration Forum 50, attributes the investor enthusiasm to China’s ongoing industrial upgrade and its commitment to economic […]

The price of Bitcoin, the world’s leading cryptocurrency, has experienced a remarkable surge in 2019. From its year-opening value of around $3,500, Bitcoin skyrocketed to over $10,000 in just a few months. This dramatic rise has fueled optimism among analysts, with some predicting a continued upward trajectory in the coming years. One such analyst, a former skeptic who has become a vocal proponent of Bitcoin, believes the […]

The U.S. Department of the Treasury has proposed a new tax framework for digital assets, targeting both environmental impact and tax avoidance within the cryptocurrency industry. The plan, which aligns with President Biden’s previously outlined budgetary goals, introduces a novel 30% excise tax on the electricity consumption of cryptocurrency miners. Additionally, the proposal aims to close existing loopholes exploited through wash trading, a practice where investors buy […]

In a significant development aimed at mitigating the potential pitfalls of artificial intelligence (AI), the United States, China, and the European Union announced a collaborative effort to establish a framework for global AI governance. This initiative comes amidst growing tech tensions between these economic powerhouses, highlighting a shared recognition of the need for international cooperation in navigating the complexities of advanced AI. The primary focus of this […]

Ransomware detections fall 14% as alternative attack strategies evolve HONG KONG SAR – Media OutReach Newswire – 12 March 2024 – Trend Micro Incorporated (TYO: 4704; TSE: 4704) a global cybersecurity leader, today revealed a 10% annual increase in total threats blocked in 2023 and warned that attackers are using more advanced methods to target fewer victims with the potential for higher financial gains. To read a […]

Reddit, the popular online forum known for its vibrant communities and user-driven content, is reportedly gearing up for an initial public offering (IPO) later this year. According to Bloomberg, the company intends to sell 22 million shares, aiming to raise a total of $748 million in capital. This move marks a significant milestone for the platform, which has fostered a passionate and engaged user base since its […]

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