Author: Arabian Media staff
Image credit: Getty Images Cryptocurrencies tumbled on Thursday, December 11 and bitcoin fell back below the $90,000 threshold in a renewed signal of market jitters as fresh concerns about artificial intelligence profits weighed on technology stocks. Risk sentiment turned sour after US cloud firm Oracle’s profit and revenue outlook missed forecasts and executives flagged higher spending – a sign AI infrastructure outlays are not turning profits as quickly as investors had hoped. Read more-Experts outline next phase of digital finance at Bitcoin MENA Bitcoin was last down 2.5 per cent at $90,056.24, while ether tumbled 4.3 per cent to $3,196.62,…
Images: Getty Images Gulf central banks cut key interest rates by 25 basis points on Wednesday, mirroring a move by the US Federal Reserve to reduce rates by a quarter of a percentage point in another divided vote. The Fed signalled it will likely pause further reductions in borrowing costs with new projections indicating the median policymaker view of just one quarter-percentage-point cut in 2026, the same outlook as in September. The oil and gas exporters of the Gulf Cooperation Council generally follow the Fed’s lead on interest rate moves as most regional currencies are pegged to the dollar. Only the Kuwaiti dinar is…
Image credit: WAM/Website The Ministry of Human Resources and Emiratisation (MoHRE) in UAE has launched an upgraded version of the Wage Protection System (WPS), developed in collaboration with the Central Bank of the UAE and Al Etihad Payments, the national payments service provider owned by the Central Bank. The update is being implemented alongside several MoHRE-accredited financial institutions through their respective digital platforms, marking a significant step forward in the UAE’s ongoing push for smarter, more transparent labour market processes. Read more-Top jobs, bigger paychecks: UAE salary rise 2026 forecast revealed The enhanced system was rolled out under the ministry’s…
The region’s business landscape is being reshaped by a new kind of influence, one driven not only by boardroom decisions, market performance or company scale, but by the ability to build communities, spark conversations and move audiences at speed. In an era where social reach can amplify strategic vision, the region’s most dynamic founders, executives and creators now operate at the intersection of business leadership and digital impact. In this special feature, Gulf Business spotlights a selection of the UAE’s most recognisable business voices, individuals who command sizeable followings, shape public perception and increasingly drive regional dialogue across sectors such…
Image: Getty Images/ For illustrative purposes Abu Dhabi has launched a new fintech, insurance, digital and alternative assets cluster, known as FIDA, aiming to accelerate the development of next-generation financial and investment solutions and strengthen the emirate’s position as a global capital hub. The initiative, led by the Abu Dhabi Department of Economic Development (ADDED) and the Abu Dhabi Investment Office (ADIO), is part of the emirate’s long-term diversification strategy. By 2045, officials project FIDA will add $15.2bn to direct GDP, create 8,000 skilled jobs and attract at least $4.6bn in investment. Key highlights of FIDA FIDA combines high-growth areas…
One firm needs scale, the other ideas Source link
Australia is not the only country introducing stricter controls Source link
Image: Supplied Dubai’s Department of Economy and Tourism (DET) gathered more than 1,200 industry stakeholders on 9 December for its second and final City Briefing of 2025, outlining progress across the tourism economy and plans to support another year of growth. The event, held at Global Village courtesy of Dubai Holding Entertainment, brought together players from hospitality, aviation, retail and F&B, along with government representatives and media. DET used the session to underline the importance of public and private sector coordination in meeting the ambitions of the Dubai Economic Agenda, D33. In the presence of Helal Saeed Almarri, DG of…
Oboe, a learning startup from Anchor co-founders and former Spotify execs Nir Zicherman and Michael Mignano, said today it has raised $16 million in Series A funding led by a16z, with participation from existing investors Eniac, Haystack, Offline, and Factorial. The round also saw investments from individuals such as Adam D’Angelo, Garry Tan, Lenny Rachitsky, Mati Staniszewski, Mikey Shulman, Jared Hecht, and M.G. Siegler. That platform, which officially launched in September, allows users to define a learning goal and use AI to create a course for them. The startup’s fundraise comes three months after the app’s launch and a year…
Overview Energy emerged from stealth today with a plan to use the world’s solar panels as nighttime collectors of power beamed down from space. The startup plans to use large solar arrays in geosynchronous orbit — about 22,000 miles above the Earth where satellites match the planet’s rotation — to harvest sunlight. It will then use infrared lasers to transmit that power to utility-scale solar farms on Earth, allowing them to send power to the grid nearly round the clock. Overview has raised $20 million to date, and part of that money has gone toward an airborne demonstration of its…