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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Facebook may launch digital wallet

A series of recent Wall Street Journal reports said Facebook knew its Instagram photo sharing tool was hurting teenage girls' mental health,
  • Facebook said in 2019 it planned to introduce a cryptocurrency called Libra, which changed its name to Diem in 2020 after facing regulatory resistance.
  • Company says it would have preferred to release Novi alongside Diem, but the latter's timing was uncertain.

WASHINGTON: Facebook is ready to launch a digital wallet that would let users store cryptocurrencies, a senior company executive said in a US media interview Wednesday.

David Marcus, head of Facebook’s crypto unit, told The Information news site that company leaders “feel pretty committed” to launch the digital wallet called Novi this year.

Marcus said he would have preferred to release Novi alongside Diem, a digital currency tied to the dollar that the company is also developing, but Diem’s timing was uncertain.

“In theory, Novi could launch before Diem, but it would mean launching without Diem and that’s not necessarily something that we want to do,” Marcus told The Information.

“It all depends on how long it’s going to take for Diem to actually go live and that’s not something I’m personally looking after.”

In 2019 Facebook said it plans to introduce a cryptocurrency that at the time was called Libra. The project however faced regulatory resistance over concerns about security and reliability.

In December 2020 the Libra changed its name to Diem and moved its operations from Switzerland to the United States as part of a “strategic shift.”