India, European EFTA bloc sign $100 billion free trade deal

• EFTA was established in 1960 to promote free trade and economic integration between its members. In 2021, it was the 10th largest trader in the world in terms of merchandise.
• In recent years, India has signed trade agreements with Australia and the United Arab Emirates. A long-talked-about trade deal with Britain is also said to be in the final stages.

Sharjah real estate transactions hit $844 million in February: Report

• The total number of transactions carried out during February had reached 4,458 transactions.
• The sales transactions reached 1,048 representing 23.5 percent of the total number of transactions.

Expanding Israeli settlements a ‘war crime’: United Nations

• "Such transfers amount to a war crime that may engage the individual criminal responsibility of those involved," Turk said in a report to the UN Human Rights Council.
• Reported Israeli plans to build another 3,476 settler homes in the West Bank colonies of Maale Adumim, Efrat and Kedar "fly in the face of international law", he said.

Foreign banks in Dubai to pay 20% annual tax under new law

• It stipulates that the 9% tax that went into effect last year will be deduced from the 20% annual tax if the foreign bank pays the tax under the country's corporate tax law.
• Violators will be fined up to AED500,000 ($136,150) and AED1 million in case of repeat violations within two years.

UAE launches first legally established financial ombudsman unit 

• Sanadak's focus is on safeguarding consumers rights and resolving complaints that arise from dealings with financial institutions and licensed insurance companies.
• Sanadak reduces the need to take claims to courts and judicial authorities, thereby bolstering consumer confidence and elevating the protection of financial consumer rights.

LEAP 24 concludes with $13.4bn investments, record participation

Fraud and volatility fears persist as bitcoin barrels on

• On Tuesday, bitcoin - the most widely used cryptocurrency - reached its all-time high, topping $69,191, surpassing its previous high set in November 2021
• The launch of a new investment vehicle - bitcoin-indexed exchange traded funds (ETFs) in the US last January - has further spurred prices.

US all set for Biden-Trump rematch as Haley bows out of race

• Impeached twice, beaten by seven million votes in 2020 and facing 91 felony charges in four trials, Trump has a profile unlike any US presidential election candidate in history
• Biden is now expected to use his State of the Union speech in less than 48 hours to paint the election as a stark choice between himself and an existential threat to the country

Investments approach $13bn as LEAP 2024 hits halfway stage

• The world's most attended technology exhibition, unveiled another raft of investments totaling over US$888 million on Wednesday.
• Investcorp launched of a US$500 million growth stage fund, while Oasis Capital launched Fund II with capital of US$100 million.

Egypt’s IMF loan increased by $5bn after central bank floats pound

• Amid dire foreign currency shortages, the parallel market rate had surged to 70 pounds to the dollar earlier this year, sending consumer prices soaring.
• In an attempt to rein in inflation, the central bank also raised its key deposit rate by six points on Wednesday, to a record high of 27.25 percent.