By P. Sudhir The 24th Congress of the CPI(M), which concluded at Madurai on April 6 with a massive rally, was notable in many respects. There were changes both in the agenda and content of the Congress discussions. First of all, a Political Review Report which reviewed the implementation of the political-tactical line adopted at […]
Inks three signings in Q1 2025 to add 600 units under the Oakwood brand, bringing Ascott’s current portfolio in India to ~6,100 units Introduces lyf, The Crest Collection and The Unlimited Collection brands to cater to the evolving needs of next-gen travellers and address the growing demand for authentic Indian heritage and cultural experiences MUMBAI, INDIA / SINGAPORE – Media OutReach Newswire – 10 April 2025 – […]
The much-anticipated auction of ‘REAL’, a memecoin associated with mixed martial arts champion Conor McGregor, concluded without meeting its $1 million minimum bid. Organized by Real World Gaming , the auction aimed to capitalize on McGregor’s global appeal to fund innovative gaming projects. Despite expectations, the initiative did not attract the necessary financial backing.
Real World Gaming, formerly known as Balthazar DAO, rebranded in June 2022 to better align with its mission of integrating blockchain technology into the gaming industry. The organization focuses on developing next-generation wagering games and has been actively involved in the Web3 gaming space. The ‘REAL’ token was envisioned as a bridge between the gaming community and cryptocurrency enthusiasts, offering unique experiences and governance rights within the RWG ecosystem.
The auction’s failure to secure the minimum bid reflects the volatile nature of the cryptocurrency market, particularly concerning celebrity-endorsed tokens. While some memecoins have experienced significant surges, others have struggled to gain traction. The ‘REAL’ token’s underperformance may be attributed to several factors, including market saturation with similar offerings and growing investor skepticism toward celebrity-backed cryptocurrencies.
In contrast, other sectors within the cryptocurrency market have shown remarkable growth. Meme coins and real-world assets have led market gains in 2024. Leading meme coins such as Dogecoin , Shiba Inu , dogwifhat , Pepe , Bonk , and Floki Inu have seen their prices surge by an average of 338% year-to-date. Notably, dogwifhat’s value increased from less than $0.02 at the beginning of 2024 to around $1.80, reaching an all-time high of $4.58 in April. Similarly, real-world assets like Mantra and Ondo have experienced substantial gains, with increases of 1,570% and 380%, respectively.
Matein Khalid We are now living “ten days that shook the world” in real life, as John Reed did that fateful autumn long ago in Lenin’s shadow as the Bolshies stormed the Winter Palace in October 1917 before he was resurrected to begin his next life as the chairman/CEO of Citicorp in 1984. Is this just a magic realism joke? No. The fall of Tsar Nicki and […]
Amazon.com Inc. is contemplating a substantial $15 billion investment to establish approximately 80 new logistics facilities across urban and rural areas in the United States. This initiative marks a significant shift from the company’s post-pandemic construction slowdown and aims to enhance its delivery infrastructure nationwide. The proposed expansion includes a mix of delivery hubs and large fulfillment centers equipped with advanced robotics technology. Amazon has invited potential […]
By Nitya Chakraborty What is happening to the “Neighbourhood First” policy of the Indian Prime Minister Narendra Modi in the year 2025? Modi is an expert in coining attractive slogans whether those finally work or not. For South Asia, he opted for Neighbourhood First and for South East Asia and ASEAN nations Act East. At […]Hotel establishments across the United Arab Emirates reported revenues of approximately AED37.1 billion from January to October 2024, reflecting a 4% increase compared to the same period in 2023. The hotel occupancy rate also experienced growth, reaching nearly 78%, up 2.7% from the corresponding period last year. Abdulla bin Touq Al Marri, Minister of Economy and Chairman of the UAE Tourism Council, highlighted that these figures underscore […]
Matein Khalid Thank God last night was just a manic Monday and not Black Monday, even though I saw doomsday options trade in the index futures market on Sunday night and the VIX was 60 at the open. This is 100% evidence that some major financial institution is in distress because 60 VIX is a 3-sigma event that I have seen only in 9/11, the GFC and […]
SINGAPORE – Media OutReach Newswire – 8 April 2025 – Juspay, a global leader in payment infrastructure for enterprises and banks, has secured $60 million as part of its Series D funding round in a combination of primary and secondary investments. This investment round was led by Kedaara Capital with participation from existing investors Softbank and Accel. Juspay has expanded its global footprint across Asia-Pacific, Latin America, […]
Goldman Sachs has increased the probability of a United States recession in the next 12 months to 45%, aligning with a wave of revised risk assessments by major investment banks as escalating trade tensions and tighter financial conditions unsettle global markets. The adjustment from Goldman’s previous estimate of 35% reflects the firm’s assessment that a sharp tightening in financial conditions and heightened policy uncertainty will significantly hinder […]
The United Arab Emirates has reaffirmed its position as the global leader in Fibre to the Home connectivity, achieving a penetration rate of 99.3%. This marks the eighth consecutive year the nation has topped international rankings, surpassing technological hubs such as Singapore, Hong Kong, China, and South Korea. The FTTH Council’s latest annual report highlights this milestone, underscoring the UAE’s commitment to advancing its digital infrastructure.
The FTTH Council’s analysis encompassed data from 20 countries with FTTH availability exceeding 50%. Singapore secured the second position with a penetration rate of 97.1%, followed by Hong Kong at 95.3%, China at 92.9%, and South Korea at 91.5%. The UAE’s leading status reflects the nation’s strategic emphasis on developing next-generation digital infrastructure to support its economic and technological ambitions.
Central to this achievement is e& UAE, formerly known as Etisalat, which has played a pivotal role in enhancing the country’s connectivity landscape. The company has consistently invested in and developed world-class infrastructure for both 5G and fibre networks. Masood M. Sharif Mahmood, CEO of e& UAE, stated that the UAE’s proactive strategies and investments in fibre connectivity are a testament to the nation’s visionary leadership and its confidence to empower people to thrive in the digital age.
The UAE’s focus on fibre connectivity is integral to its broader digital transformation agenda. The nation has continuously invested in innovation and next-generation technologies to expand and enhance its infrastructure. This robust network forms the backbone of a digital ecosystem that supports various advanced technologies, including augmented reality, robotics, and artificial intelligence.
The high FTTH penetration rate offers tangible benefits to both consumers and enterprises. For consumers, it translates to high-speed internet access, facilitating seamless experiences in gaming, streaming, and other bandwidth-intensive applications. Enterprises, on the other hand, can leverage this infrastructure to support advanced use cases, applications, and technologies, thereby driving digital transformation across various sectors.
Beyond performance enhancements, fibre connectivity contributes to energy efficiency and sustainability goals. It is also critical in advancing hyperscalers, 5G Advanced, data centre connectivity, smart cities, and AI-driven initiatives. The UAE’s commitment to fibre connectivity aligns with its vision to become a global hub for innovation and technology.
Cryptocurrency exchange FTX has disqualified approximately 392,000 customer claims after users failed to verify their identities by the March 3 deadline, potentially nullifying claims exceeding $2.5 billion. This action affects a substantial portion of creditors seeking restitution following FTX’s collapse in November 2022.
FTX creditor advocate Sunil Kavuri estimates that claims under $50,000, totaling around $655 million, and larger claims amounting to approximately $1.9 billion are subject to disqualification due to Know Your Customer violations. The KYC process, a standard compliance measure in the financial industry, requires users to provide personal identification information to prevent fraud and money laundering.
FTX’s bankruptcy proceedings have been complex and protracted. In October 2024, U.S. Bankruptcy Judge John Dorsey approved the company’s wind-down plan, allowing FTX to utilize up to $16.5 billion in recovered assets to fully repay customers. The plan prioritized customers with claims of $50,000 or less, aiming to reimburse 98% of such claimants within 60 days of the plan’s effective date.
The repayment process commenced on February 18, 2025, targeting the “convenience class” of creditors with claims under $50,000. Distributions were facilitated through cryptocurrency firms Kraken and BitGo, with customers expected to receive funds within one to three business days. FTX Recovery Trust Plan Administrator John J. Ray III acknowledged the significance of this milestone but emphasized the ongoing nature of recovery efforts.
The next phase of repayments is scheduled to begin on May 30, 2025, addressing larger claims exceeding $50,000. FTX has amassed an $11.4 billion cash reserve to fund these payments. Bankruptcy attorney Andrew Dietderich informed the court that while minor creditors have started receiving payments, the first distribution to major debt holders is set for late May.
Despite these efforts, some creditors have expressed dissatisfaction with the repayment terms. Concerns have been raised about reimbursements being based on cryptocurrency valuations from November 2022, when prices were significantly lower. For instance, Bitcoin was trading at approximately $16,000 during that period, compared to its current value exceeding $100,000. This discrepancy means that creditors might receive only 10–25% of their crypto’s current value.
By K Raveendran Donald Trump and Narendra Modi never seem to tire of expressing admiration for each other, their mutual regard forming an odd but undeniable transnational political camaraderie. What binds them is not simply shared ideology but a similar worldview shaped by populism, nativism, and a flair for dramatic, often reckless, decision-making. Modi’s ‘Atmanirbhar […]
SINGAPORE – Media OutReach Newswire – 4 April 2025 – MyRepublic, one of Asia-Pacific’s leading digital-first telcos, announced the launch of Pocket Rocket Adventures, an industry-first initiative that introduces unique gamification mechanics into the customer experience journey for their broadband and mobile subscribers. The game, accessible via the MyRepublic mobile app available from April, marks a significant step in the company’s broader strategy to drive engagement, loyalty, […]
By Nitya Chakraborty Brazil’s President Luiz Inacio Lula da Silva, better known globally as Lula has launched a major initiative to meet the U.S. President Donald Trump’s unilateral tariff offensive by joining hands with Chinese President Xi Jinping and the Russian President Vladimir Putin, apart from taking assistance from South Africa and a few other […]Dubai-based Edgnex Data Centers, a subsidiary of the Damac Group, has acquired Finnish data center company Hyperco, marking a significant expansion into the Nordic region. The financial terms of the deal have not been disclosed. Hyperco operates data centers in Finland and Sweden, leveraging the region’s sustainable energy resources, mature digital ecosystems, and high connectivity. The company’s three co-founders and existing team will continue to lead operations […]
MACAU SAR – Media OutReach Newswire – 3 April 2025 – Galaxy Macau™, the world-class luxury integrated resort (hereinafter referred to as “Galaxy Macau”), offers diverse cultural experiences year-round, creating unparalleled journeys for guests from around the globe. In honor of the Songkran Festival, the traditional Thai New Year celebration, Banyan Tree Macau at Galaxy Macau will present a series of star-studded Thai culinary delights and rejuvenating […]
A significant proportion of Chief Information Officers are exceeding their allocated budgets for cloud infrastructure and applications, according to a recent survey conducted by Azul, a company specialising in Java platforms. The study, which gathered insights from 300 CIOs across the United States, found that 83% reported spending an average of 30% more than initially anticipated, while a mere 2% managed to stay under budget. Despite these […]
Gears up to launch Aspire Yield SINGAPORE – Media OutReach Neswire – 3 April 2025 – ASG2 Pte Ltd, a subsidiary of Aspire, a Singapore-headquartered all-in-one finance platform for modern businesses, today announced that it has secured the Capital Markets Services Licence (CMS) from the Monetary Authority of Singapore (MAS). The licence will enable Aspire to better serve businesses in Singapore by widening its offering to include […]
Where Classical Majesty Met Modern Magic The “Voice of God” Ignites Galaxy Arena MACAU SAR – Media OutReach Newswire – 2 April 2025 – Galaxy Arena, Macau’s new cultural landmark, hosted an unforgettable evening on March 29 as the world’s most beloved tenor, Andrea Bocelli, staged his debut solo concert in the city. Presented by Galaxy Macau™, the highly anticipated event drew a sold-out crowd of adoring […]
Featuring the revolutionary Odyssey 3D, the updated Odyssey OLED G8 with the industry’s first 4K 240Hz screen, and the new ultra-wide Odyssey G9, the new Odyssey monitor line-up is set to deliver unparalleled experiences for all gamers SINGAPORE – Media OutReach Newswire – 2 April 2025 – Samsung Electronics Singapore is bringing its 2025 Odyssey monitor line-up to Singapore. Featuring the revolutionary Odyssey 3D, the stunning Odyssey […]
HONG KONG SAR – Media OutReach Newswire – 1 April 2025 – Henderson Land Development Company Limited (“Henderson Land” or “the Group”) (Stock code: 12) actively supports and promotes the development of the arts in Hong Kong. By curating diverse artistic experiences, the Group strives to delight and inspire art lovers and the public at large. The Group has transformed the Lambeth Walk Rest Garden into the […]
By Nantoo Banerjee If in the United States, the world’s second largest federal democracy, the number of seats in the House of Representatives could remain capped at 435 since 1913, there is no reason to justify the latest delimitation exercise to freshly fix the number of seats and boundaries of territorial constituencies in each state […]EDGNEX Data Centers, the digital infrastructure arm of DAMAC Group, has solidified its position in the European market with the acquisition of Hyperco, a data centre company founded in Finland. The acquisition marks a significant step in EDGNEX’s strategy to enhance its global footprint, particularly within Europe, which is known for its robust digital infrastructure and commitment to sustainability. Hyperco operates cutting-edge data centres across Finland and […]
