News related to
financial

WikiFX launches SkyLine List – Create a “Michelin Guide” for Forex Info

BANGKOK, THAILAND – Media OutReach Newswire – 19 July 2024 – The foreign exchange information service platform WikiFX has launched SkyLine Ranking aiming to create a “Michelin Guide” for the foreign exchange information industry and help investors obtain accurate financial (foreign exchange) information. WikiFX’s SkyLine list’s first release and award ceremony will be held on September 7th at the WikiEXPO Bangkok Summit. For the first SkyLine ranking […]

U.S. Airlines Ground Flights Due to Communication Issues

Major U.S. airlines faced significant disruptions on Friday as widespread communication issues forced them to ground flights, causing delays and cancellations across the nation. This incident, part of a broader trend of system outages, also affected various sectors globally, including banks and media companies, highlighting the growing vulnerability of interconnected digital infrastructure. The grounding began early in the day when major airlines, including American Airlines, Delta Air […]

OxPay on the Verge of Adding Potentially Lucrative Business: Issuing Credit Cards

OxPay to expand its services by issuing credit cards, enhancing its position in the competitive fintech market. New CEO Yick Li Hsin leads the charge in exploring new markets and business opportunities. Strategic partnerships and collaborations aim to increase merchant acquisition and market presence. SINGAPORE – Media OutReach Newswire – 19 July 2024 – OxPay Financial Limited (SGX: TVV) (“OxPay” or the “Company”, and together with its […]

Online Rich Celebrates Its Fifth Anniversary, Achieving New Milestones in the Asian Market and Assisting Over 2100 Entrepreneurs in Achieving Success

HONG KONG SAR – Media OutReach Newswire – 19 July 2024 – Online Rich, an award-winning cross-border e-commerce entrepreneurship platform, marks its fifth anniversary this year. A key business unit of Good Timing Holding Limited, Online Rich specializes in providing a one-stop service for e-commerce startups, helping them build and expand their global business from scratch. Over the past year, Online Rich has not only conducted multiple […]

Global Tech Outage Disrupts Flights and Services

A massive technology disruption struck worldwide over the night of July 19, 2024, as Microsoft experienced a significant global outage affecting its online services. This unprecedented breakdown led to widespread service interruptions, impacting various sectors and prompting substantial disruptions in daily operations. The outage began late Thursday and persisted into Friday, creating chaos for users relying on Microsoft’s suite of products, including Office 365, Outlook, and Azure […]

Crypto Rally Breaks Away from U.S. Equities Trend

This Friday, the cryptocurrency market witnessed a significant rally, diverging sharply from its recent pattern of correlation with U.S. equities, which have continued their downward trajectory. The unexpected surge in digital assets has captured the attention of investors and analysts alike, raising questions about the factors driving this divergence and its implications for future market behavior. Over the past week, U.S. stock markets have experienced a series […]

Days Needed to Recover from Microsoft, CrowdStrike Outage

A recent major IT outage linked to Microsoft and CrowdStrike caused widespread disruptions globally, affecting banks, airlines, and numerous businesses. The outage, which started on July 19, led to significant delays and operational issues, particularly in Australia where initial reports of system failures emerged. CrowdStrike clarified that the outage was not the result of a cyberattack, but rather a faulty update. The disruption resulted in Windows “blue […]

Saudi Arabia’s Bahri exits Deutsche Bahn’s Schenker bid

Saudi Arabia’s national shipping carrier, Bahri, has withdrawn from the competitive bidding process to acquire Deutsche Bahn’s logistics subsidiary, DB Schenker. This move leaves three remaining contenders: Danish transport giant DSV, a consortium led by CVC Capital Partners, and the Danish shipping company Maersk. Bahri’s exit is a significant development in the sale process of DB Schenker, which Deutsche Bahn initiated to reduce its substantial debt, estimated […]

UAE Telecommunications Authority Addresses Microsoft IT Outage Impact

A significant IT outage affecting Microsoft services has caused widespread disruptions globally, including in critical sectors such as aviation, banking, and media. The UAE’s Telecommunications and Digital Government Regulatory Authority (TDRA) issued a statement on July 15, 2024, addressing the ongoing situation. The outage began on July 13, 2024, when an automated cleanup operation inadvertently deleted essential resources within Microsoft’s Azure cloud platform. This triggered a series […]

HKSTP Congratulates Record-breaking 641 Units of Graduates Comprehensive Support at Every Stage Fuels Start-Ups’ Global Aspirations

HONG KONG SAR – Media OutReach Newswire – 19 July 2024 – Hong Kong Science and Technology Parks Corporation (HKSTP) hosted the Graduation Party 2024 for its Ideation, Incubation, and Acceleration Programmes today. This year, a total of 641* startup units from 23 economies have successfully completed the Ideation, Incubation, Incu-Bio, and Acceleration programmes. Nearly 70% of the Incubation Programme graduates will continue their entrepreneurial journey at […]

CrowdStrike’s Credibility in Question Amid Global Windows Hitch

Arabian Post Staff The global disruption caused by a Windows software issue has raised significant concerns about the credibility of cybersecurity firm CrowdStrike. The incident, which paralyzed computer systems worldwide, was reportedly linked to a compatibility flaw between CrowdStrike’s endpoint security software and the latest Windows update. CrowdStrike, known for its cybersecurity solutions and proactive threat detection capabilities, found itself under scrutiny as users and businesses grappled with […]

Imposition Of 2 Per Cent Tax On Super Rich Is Imperative For Finding Resources For Jobs Generation

By Nitya Chakraborty Only four days are left for the presentation of the first budget of the Narendra Modi 3.0 government on July 23. The fundamentals of the economy are currently strong, but the distress areas include the huge unemployment problem with the educated youth and the women feeling the intensity of the distress most. […]

Abu Dhabi Commercial Bank Reports Strong Q2 Net Profit Growth

Abu Dhabi Commercial Bank (ADCB) has announced a significant increase in its net profit for the second quarter of 2024, exceeding market expectations. The bank reported a 20% rise in its net profit, attributing the growth to strong operating performance and improved economic conditions in the region. The financial institution’s net profit for Q2 2024 reached AED 1.7 billion, compared to AED 1.42 billion in the same […]

Middle East Embraces ESG Formats in Financial Issuance

The Middle East is witnessing a significant shift towards environmental, social, and governance (ESG) formats in financial issuance. This trend marks a growing alignment with global sustainability standards as issuers in the region increasingly prioritize ESG criteria in their financial strategies. This shift is driven by the rising awareness of the importance of sustainable finance, alongside pressures from international investors and regulatory frameworks pushing for greener and […]

EQT, ADIA Consortium Bids $1.6 Billion for Indian Biopharmaceutical Company

Arabian Post Staff -Dubai A consortium led by EQT and the Abu Dhabi Investment Authority (ADIA) has submitted a bid of $1.6 billion to acquire a prominent Indian biopharmaceutical company. This strategic move highlights the continued interest of global investors in India’s rapidly growing healthcare sector. The consortium, which includes EQT, a leading global investment firm with a focus on active ownership strategies, and ADIA, one of […]

Bitcoin Miners Shift to AI Hosting Amid Revenue Struggles

Facing dwindling revenues and declining profitability, bitcoin miners are increasingly turning to alternative sources of income. The downturn in the cryptocurrency market has left many miners grappling with financial difficulties, prompting them to explore new business avenues to offset losses. A growing number of these miners are now investing in and hosting artificial intelligence (AI) computing facilities, a shift that is beginning to bear fruit in their […]

The Corporate Engine Powering VinFast’s Global Push

HANOI, VIETNAM – Media OutReach Newswire – 19 July 2024 – In a bold move against the prevailing headwinds in the electric vehicle (EV) industry, VinFast, the young Vietnamese EV manufacturer, is forging ahead with its ambitious global expansion plans. While major players like Apple have recently abandoned their decade-long pursuit of an electric vehicle, and others are scaling back their ambitions, VinFast remains undeterred. Having already […]

AfDB Approves $1 Billion Loan to Boost Transnet

The African Development Bank Group (AfDB) has sanctioned a ZAR 18.85 billion ($1 billion) loan to Transnet, South Africa’s state-owned freight transport and logistics company, to support its recovery and growth initiatives. This 25-year loan, fully backed by the South African government, is a cornerstone of Transnet’s comprehensive five-year capital investment plan, valued at R152.8 billion ($8.1 billion). This plan aims to rejuvenate and expand the nation’s […]

IGC Subsidiary Entered into a Cooperation with Confiprosper Fintech

Accelerate commercialization of its algo-trading technology HONG KONG SAR – Media OutReach Newswire – 18 July 2024 – International Genius Company (“IGC” or the “Company“, together with its subsidiaries, the “Group“; stock code: 0033.HK) announced a business update: the Company’s Subsidiary, Deep Neural Computing Company Limited (“DNCC“), entered into a Cooperation Framework Agreement with Confiprosper Fintech Limited (“CFL“), a Hong Kong corporation. The Agreement aimed at leveraging […]

HKMA Launches Regulatory Sandbox for Stablecoin Testing

The Hong Kong Monetary Authority (HKMA) has initiated a groundbreaking regulatory sandbox aimed at facilitating the testing of stablecoin operations. Launched in March, this initiative provides prospective stablecoin issuers with a controlled environment to innovate and refine their technologies without immediate regulatory repercussions. Under the new framework, participants in the sandbox can conduct trials of their stablecoin operations under relaxed regulatory conditions. This move by the HKMA […]

Suez Canal Revenue Declines Amid Red Sea Route Avoidance

Egypt’s vital maritime artery, the Suez Canal, has faced a notable decline in revenue recently as international shipping companies opt to bypass the Red Sea route. This strategic shift comes amidst heightened geopolitical tensions and security concerns in the region. The Suez Canal, a critical conduit for global trade linking Europe to Asia via the Mediterranean and Red Seas, has historically been a linchpin of Egypt’s economy, […]

Bankrupt Crypto Lender BlockFi to Initiate Initial Crypto Payouts via Coinbase

Bankrupt cryptocurrency lender BlockFi revealed plans on Thursday to begin its initial cryptocurrency distributions through Coinbase starting July 2024. The company, which filed for bankruptcy earlier this year amidst regulatory scrutiny and financial woes, aims to kickstart the process of returning funds to its investors. BlockFi’s decision marks a pivotal moment in its bankruptcy proceedings, following months of negotiations with creditors and regulatory bodies. The firm, once […]

Sheikh Ammar Bin Humaid Al Noaimi Chairs Ajman Bank Board Meeting

His Highness Sheikh Ammar Bin Humaid Al Noaimi, Crown Prince of Ajman and Chairman of Ajman Bank Board of Directors, led a pivotal meeting today at the bank’s headquarters. The session focused on strategic initiatives aimed at enhancing the bank’s operational efficiency and expanding its service offerings in line with evolving market dynamics. Key discussions during the meeting revolved around bolstering Ajman Bank’s digital transformation efforts. Sheikh […]

Cryptocurrency Prices Plummet on WazirX Exchange

Cryptocurrency investors faced a tumultuous day as prices plummeted across major digital assets on the WazirX exchange. Bitcoin, the leading cryptocurrency by market capitalization, alongside stablecoin USDT, recorded significant discounts compared to global averages. This sharp decline sparked concerns among traders and analysts alike, reflecting broader market volatility. Bitcoin, known for its price stability relative to other cryptocurrencies, saw a marked drop of over 10% on WazirX, […]