Author: Emirates Insight
Do Kwon, the controversial founder of Terraform Labs and the architect behind the failed TerraUSD and Luna crypto assets, received a 15-year federal prison sentence on Thursday. US District Judge Paul A. Engelmayer, delivering the sentence in a Manhattan courtroom, described the misconduct as an “epic fraud.” Kwon, now 34, had earlier admitted to deceiving investors about the stability mechanisms of TerraUSD, a token marketed as a safeguard during periods of market turmoil. “Epic Fraud” During a hearing in Manhattan federal court, Engelmayer said “This was a fraud on an epic, generational scale. In the history of federal prosecutions, there…
With 12 more sleeps to Christmas, Melbourne-born Airwallex wins the 2025 Australian capital raising stakes with a massive $498 million Series G that values the fintech at $12 billion. Meanwhile, cybersecurity startup Kasada and sole trader accounting platform Hnry also booked $30 million and $26 million raises, respectively. Keep reading to learn more about six Australian and New Zealand startups that collectively raised more than $568 million in new funding this week. Airwallex: $498 million Airwallex cofounders Xijing Dai, Jack Zhang, Lucy Liu, and Max Li. Source: Supplied Melbourne-born fintech Airwallex has seen its valuation increase by 30% in just…
Samsung Electronics MENA and Amazon, have signed a Memorandum of Understanding (MoU) advancing their ongoing collaboration to enhance the customer experience,deepen digital integration, and deliver meaningful value through innovation and conveniencein the UAE and Saudi Arabia. As part of the MoU, Samsung and Amazon will work together across several key areas to strengthen customer engagement and operational synergy. The collaborationwill see both companies explore deeper integration between the Prime membership program and Samsung devices to deliver seamless digital experiences, while also making Samsung Care services more accessible throughout the customer journey, from product selection to checkout. Together, both companieswill offer…
Legendary Rammstein frontman Till Lindemann is set to perform at the Coca-Cola Arena on 4 January 2026, as part of his “Meine Welt Tour 2026.” This concert is not just another date on the tour – it marks Lindemann’s 63rd birthday, and he has chosen Dubai to celebrate with a unique, one-night-only show that promises to be an unforgettable experience. A Return to Dubai: This Time Without Restrictions Lindemann last performed in Dubai during the COVID-19 pandemic, when restrictions limited the potential for an explosive show. Now, audiences in Dubai will finally experience the full force of his theatrical performances, renowned for their provocative…
Expo City Dubai Authority and Emirates NBD, a leading banking group in the Middle East, North Africa, and Türkiye (MENAT) region, have teamed up to enhance the banking facilities available to Expo City’s diverse business community, boosting operational efficiency and enabling businesses to launch, scale and thrive. The partnership, formalised with the signing of a Memorandum of Understanding by Najeeb Al Ali, Executive Director, Expo City Dubai Authority and Hamad Zayed, Group Head of Business Banking at Emirates NBD, is a significant step in realising Expo City Dubai’s vision as a globally competitive, forward-thinking business hub. Helping ensure smooth, efficient…
In an official statement the Federal Authority for Government Human Resources said that January 1, 2026 will be a public holiday for all federal government employees. It represents the first official holiday of next year and will fall on a Thursday. UAE New Year holiday Furthermore, the authority has ruled that Friday, January 2 will be a remote work day. Unless a role requires physical presence in a workplace, employees will have the flexibility to work remotely. The Federal Authority for Government Human Resources announces the New Year’s Day 2026 holiday for the Federal GovernmentThe holiday will be on Thursday…
SpaceX and BlackRock recently shifted more than $296 million in Bitcoin (BTC) to Coinbase Prime, according to on-chain trackers at Lookonchain. The large transfers landed just hours before the U.S. Federal Reserve confirmed a 25-basis-point rate cut, adding fresh tension to an already shaky market. The timing has drawn traders into a debate over whether these moves signal strategic custody changes or preparations to sell amid heightened volatility. Fresh Transfers Raise Questions as Fed Decision Hits Markets According to Lookonchain, SpaceX moved another 1,021 BTC, worth around $94 million, to a Coinbase Prime-linked address on December 10, continuing a pattern…
1X found some big potential buyers for its humanoid robots designed for consumers — the portfolio companies of one of its investors. The robotics company announced a strategic partnership to make thousands of its humanoid robots available for EQT’s portfolio companies on Thursday. EQT is a large Swedish multi-asset investor, and its venture fund EQT Ventures, is one of 1X’s backers. This deal involves shipping up to 10,000 1X Neo humanoid robots between 2026 and 2030 to EQT’s more than 300 portfolio companies with a concentration on manufacturing, warehousing, logistics and other industrial use cases. 1X will sign individual deals…
Parkin, Dubai’s leading provider of paid public parking facilities, has signed a landmark five-year agreement with DAMAC Properties to manage approximately 3,600 parking spaces across the developer’s portfolio in Dubai and Abu Dhabi. The partnership marks Parkin’s first entry into the Abu Dhabi parking market and forms part of the company’s strategy to expand its footprint in developer-led parking solutions. The collaboration aims to enhance traffic flow, improve user convenience and elevate smart mobility standards across some of the UAE’s highest-profile communities. Parkin teams up with DAMAC Properties According to Parkin, the agreement covers around 500 on-street parking spaces in…
FIA President Mohammed Ben Sulayem marked the most important week in global motorsport and mobility in the Republic of Uzbekistan today with a pledge to bring about more positive change in both sectors worldwide. Ben Sulayem welcomed nearly 500 senior FIA delegates across motorsport and mobility from 149 countries to the FIA Annual General Assemblies in Tashkent, ahead of Friday’s 2025 FIA Presidential Election, and the FIA Awards. He said:“I am proud of the achievements we have realised over the last four years, and my focus remains on ensuring the FIA continues its transformation into an organisation that delivers meaningful…