Bitcoin crosses $50,000 for first time since 2021
The cryptocurrency has enjoyed a strong run-in recent month, fueled by expectations US lawmakers would allow the creation of exchange-traded...Business
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CBJ asks local banks not to change interest rates on loans
The Central Bank of Jordan issues a circular asking local banks not to change interest rates on loans to individuals....The Central Bank of Jordan issues a circular asking local banks not to change interest rates on loans to individuals
CBJ’s decision comes in light of the current changes to interest rates and to ease the burden of repaying loans for individuals
WTO to lift Covid vaccine patents, but many doubt it will work
The World Trade Organization agreed Friday to temporarily lift patents on Covid-19 vaccines after two years of bruising negotiations, but...The unprecedented agreement, sealed by all 164 WTO members after late-night overtime talks, will grant developing countries the right to produce Covid vaccines for five years
Under the terms of the new deal, WTO members have six months to decide on whether to extend the measures "to cover the production and supply of Covid-19 diagnostics and therapeutic
TikTok says Oracle to keep US user data safe
TikTok on Friday said Oracle will store all the data from its US users, in a bid to allay fears...ByteDance employees have repeatedly accessed information about US TikTok users, according to a Buzzfeed news report
TikTok has been adamant that it has never given US user data to Chinese officials and that it would refuse if asked to do so
Gulf equities fall, imitating global stock markets
Equities in the Middle East imitated the global stock markets, falling as central banks raised interest rates to fight off...The UAE and Saudi central banks raised interest rates, hours after US Federal reserve increased its rate, the highest in nearly 30 years
Financial and energy sector shares dipped sharply, dragging down the Saudi Stock Exchange's main index by 2.2 percent on Sunday
Halal tourism eyes recovery as COVID-19 norms ease
The recovery process of the sector remains fragile and could be disrupted by the ongoing war in Ukraine, fuel price...The recovery process of the sector may get disrupted by the ongoing Ukraine war, fuel price rise, and other potential health threats, say experts.
The pre-pandemic projection of 230 million arrivals by 2026 will now be reached in 2028 with an estimated expenditure of USD$225 billion, they add.
UAE industry leaders attend program on AI industry applications
The second edition of Industry 4.0 and AI for Industrial Leaders that saw the participation of industry leaders in the...The Industry 4.0 and AI for Industrial Leaders is collaboration between Ministry of Industry and Advanced Technology and Mohamed bin Zayed University of Artificial Intelligence.
The program provides decision makers with the necessary technical knowledge to harness the power of AI in industry by determining optimum 4IR adoption strategies.
Venezuelan President calls on Qataris to invest in his country
President of Venezuela Nicolas Maduro, called on Qatari businessmen to invest in his country, to enjoy the benefits offered by...President of Venezuela Nicolas Maduro reviewed opportunities for tourism and investment cooperation
Maduro said his government has developed plans to promote 18 vital sectors for the economy
UAE highly values intellectual property system, fosters innovation: Al Marri
The UAE attaches great importance to developing the intellectual property (IP) system and encouraging innovators and creators and the country...UAE Minister of Economy Abdullah bin Touq Al Marri stated this during meetings with World Intellectual Property Organisation, UNCTAD, WEF officials.
The meetings were held on the sidelines of the UAE's participation in WTO's 12th Ministerial Conference (MC12) held recently in Geneva, Switzerland.
Staff shortages and strikes threaten pandemic recovery for airlines
Desperate to put the coronavirus pandemic behind them, airlines will hold talks on Sunday ahead of a potential summer of...In the past few weeks, delays and cancellations caused by a lack of staff at airports and strikes for better pay have wreaked havoc upon travellers.
In terms of Revenue Passenger Kilometres (RPKs), a measure of total distance flown by paying passengers, activity in April reached 62.8 percent compared with the same month in 2019
Abu Dhabi Ports, National Marine Dredging Company set up JV
The Abu Dhabi Ports Group inks deal with National Marine Dredging Company Group to set up a JV to conduct...AD Ports Group, NMDC Group to set up a JV to conduct offshore surveys and subsea services
The JV firm will offer geophysical and geotechnical, trenching and dredging support services
