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Swiss cryptocurrency haven lands in $1 billion US lawsuit

Bloomberg All is not well in Crypto Valley. One of the highest profile digital-currency projects in Switzerland, a country that’s been among the most enthusiastic advocates for cryptocurrencies, is under fire from both outsiders and insiders over allegations of false marketing and mismanagement, prompting its president to resign. Now the Tezos Foundation, which raised $232 million in an initial coin ...

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Brexit rift among Tories revealed in leavers’ WhatsApp messages

Bloomberg A leak of WhatsApp chats from a Conservative Party group that favours a complete UK withdrawal from the European Union shows the breadth of animosity among factions in the governing party and the possible threat posed to a uneasy truce. The messages, published by BuzzFeed on March 10, are from the WhatsApp forum of the European Research Group, which ...

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Outsize gains in US employment show scope for economic growth

Bloomberg The US labour market still has plenty of room to run. That’s the message from government data on March 10, which gave multiple indications America’s jobs situation isn’t as tight as previously thought, sending stocks and bond yields higher. Employers added the most workers since mid-2016, the participation rate rose by the most in almost eight years despite downward ...

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China ties its future to Xi as congress repeals term limits

Bloomberg China’s parliament voted to repeal presidential term limits, allowing President Xi Jinping to keep power indefinitely in a formal break from succession rules set up after Mao Zedong’s turbulent rule. All but five of the almost 3,000 National People’s Congress dep-uties present on Sunday supported the measure to strike a constitutional provision barring the president from serving more than ...

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DSOA registers 11.2% revenue growth

Dubai / Emirates Business His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO) on Saturday announced that the integrated free zone technology park has achieved remarkable results in 2017 with a total revenue of AED590.5 million and growth of 11.2% compared to the previous year. Overall ...

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ERC, McDonald’s UAE join forces to support humanitarian causes

Abu Dhabi / WAM Emirates Red Crescent (ERC), and McDonald’s UAE have announced that they will join forces to promote humanitarian and societal values in support of the ERC’s charitable programmes within the UAE. Under an agreement signed by Dr. Mohammed Ateeq Al Falahi, Secretary-General of ERC, and Rafic Fakih, Managing Director and partner at McDonald’s UAE, ERC donation boxes ...

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‘Year of Zayed’ balloon launched in Jordan

Petra / WAM The ‘Year of Zayed 2018’ hot air balloon was launched by the Sharjah-based Al Qasimia University in the historic city of Petra in Jordan amidst a huge turnout of members of the public. Commenting on the launch, Dr. Rashad Salem, Director of the Al Qasimia University, said the launch serves the humanitarian message for which the UAE ...

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Shamma Al Mazrui among 7 young women ‘changing the world’

Abu Dhabi / WAM The CNBC news channel has listed Shamma bint Suhail Faris Al Mazrui, Minister of State for Youth Affairs, among the top seven ‘female activists under 23 who are changing the world’. The list comes in conjunction with this year’s International Women’s day, centred around the theme #PressforProgress, which urges women of all generations to use their ...

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US-China trade war hurts tech firms from Apple to Lenovo

Bloomberg A shudder reverberated through the global technology sector as the Trump administration considers tariffs on Chinese imports including consumer electronics. Under the most severe scenario being weighed, the US could impose tariffs on a wide range of Chinese imports from shoes and clothing to tech gadgets, said two people familiar with the matter, who asked not to be identified ...

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Jaguar owner wants to hire women in India but fewer are working

Bloomberg Jaguar Land Rover owner Tata Motors Ltd. had just about 200 women on the shop floor three years ago. Now, it has 10 times that number and is looking to hire more. In socially conservative India, that may be a tall order. Better educated women from wealthier families aren’t encouraged to work and it’s usually when a man’s salary ...

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