Aerial view of the Dubai Marina. DUBAI, United Arab Emirates — Demand for property in the United Arab Emirates’ glitzy commercial capital of Dubai hit a record high for the first two months of 2023, real estate services firm CBRE revealed in a report published Thursday. In February alone, Dubai’s residential market saw 8,515 transactions
Good morning. Welcome to jobs day. Forecasters think there were 205,000 jobs added in February. They thought something similar last month, before the real January number, more than half a million jobs, blew everyone away. Since then, many have taken to waving away strong January data as a warm-winter fluke. Another bumper payrolls report today
press release PRESS RELEASE. Plena Smart Wallet, which is one of the first self-custodial wallets to support Account Abstraction is thrilled to unveil its hotly anticipated referral program that offers rewards worth up to $1,000,000 in $Plena tokens. The program aims to incentivize users to invite their friends and family to join the platform while
Lego, the Danish toy company famous for its colorful plastic bricks, expects to diversify its entertainment offerings portfolio, targeting the metaverse. The company is preparing to present a virtual world in partnership with Epic Games, the gaming engine company, to continue increasing its market share and growth streak by entering new digital markets. Lego to
Hedera, the team behind distributed ledger Hedera Hashgraph, has confirmed a smart contract exploit on the Hedera Mainnet that has led to the theft of several liquidity pool tokens. Hedera said the attacker targeted liquidity pool tokens on decentralized exchanges (DEXs) that derived its code from Uniswap v2 on Ethereum, which was ported over for
Homeowners with mortgages, which account for roughly 63% of all properties, saw equity increase by 7.3% year over year, representing a collective gain of $1 trillion, for an average of $14,300 per borrower, since the fourth quarter of 2021, according to a recent home equity report. As home price growth continued its slow, steady decline
Xi Jinping began an unprecedented third term as China’s president on Friday, cementing the Chinese leader’s unchallenged grip on power amid growing tensions with the US and deepening economic challenges at home. In a solemn ceremony at Beijing’s Great Hall of the People, China’s most powerful leader since Mao Zedong was sworn in as head
Something is going very wrong for teenagers. Between 1994 and 2010, the share of British teens who do not consider themselves likeable fell slightly from 6 per cent to 4 per cent; since 2010 it has more than doubled. The share who think of themselves as a failure, who worry a lot and who are
The tired metaphor is that the chancellor will try to pull a rabbit out of the hat on Budget day. The sleight of hand is usually less delightful: he’ll stuff some frozen prawns behind the radiator and a turd underneath the sofa, and hope to make a getaway before anyone notices the stink. The game
Asian equities followed the US sharply lower on Friday, after investors on Wall Street sold off stocks over concerns about the health of the US banking sector. Hong Kong’s Hang Seng index was down 2.2 per cent, China’s CSI 300 shed 1 per cent, South Korea’s Kospi declined 1.1 per cent and Japan’s Topix lost
When Scotland’s first minister Nicola Sturgeon in March 2017 demanded a second referendum on independence from the UK, her Scottish National party launched an online drive to raise funds for the coming campaign. Six years later, that fundraising effort — and a police investigation into what happened to the money it brought in — are
Media mogul Steve Forbes, chairman of Forbes Media, has warned that the Federal Reserve is “inflicting unnecessary pain” on the U.S. economy with its interest rate hikes after Fed Chair Jerome Powell said the Fed is prepared to raise interest rates at a faster pace. He also pointed out “the fundamental flaw in central bankers’
Federal Reserve Chairman Jerome Powell has provided an update on the Fed’s central bank digital currency (CBDC) work in a hearing before the House Financial Services Committee. While stating that the Fed is “making progress on technological issues,” Powell stressed that “policy issues are equally important.” Fed Chair Powell on CBDC Progress During a hearing
Ethereum co-founder Vitalik Buterin’s latest salvo against “shitcoins” has ended up with him simply being sent more of it. Only days ago, the Ethereum developer made moves to sell over $700,000 of tokens previously airdropped to him, causing the price of these tokens to fall. Buterin has since continued his war on apparent “shitcoins.” In
United States Representative Tom Emmer believes the launch of programmable central bank digital currency in the country could strip American citizens of their financial privacy. Speaking on March 9 at the Cato Institute, a Washington D.C.-based libertarian think tank, Emmer explained that the programmable CBDC would be “easily weaponized” as a spying tool to “choke out
Bitcoin (BTC) briefly slipped below $20,000 for the first time in nearly two months, following the latest budget from United States President Joe Biden and the collapse of “crypto-bank” Silvergate. The price of BTC dipped to $19,945 on March 10 before recovering to hover just above $20,000, according to data from CoinMarketCap. Bitcoin had a
Bitcoin mining company Compass Mining claims to have found “three issues” in the ASIC design of the two new Antminer S19 miners, units that are primarily used to mine Bitcoin (BTC). These issues could result in the machines overheating and, in some cases, completely breaking down. The firm’s mining operations team warned in its March
The writer is a former global head of asset allocation at a fund manager Time and time again, betting against Japanese government bonds has cost traders untold fortunes. The pay-off for going short on JGBs has always looked tempting and risks asymmetric. Potential losses appear limited given that yields, which move inversely to prices, cannot
Our weekly roundup of news from East Asia curates the industry’s most important developments. South Korea invests another $51M in metaverse tech South Korea’s plans for metaverse domination are gathering pace. A March 8 document prepared by the Ministry of Science and Information and Communication Technology (ICT), the National IT Industry Promotion Agency and the
March started off on a low due to a resurrection of inflationary fears. On March 7, hawkish comments from United States Federal Reserve chairman Jerome Powell amplified the market’s expectation of a 50-basis point hike in the upcoming policy rate meeting on March 22 to March 23. On March 8, the U.S. government’s $1 billion
New applicants for unemployment aid in the US rose above 200,000 for the first time in eight weeks, running slightly counter to a recent string of strong labour market data. There were 211,000 initial jobless claims in the week ended March 4, up from 190,000 a week earlier, according to US labour department data released