Share trading in China has been suspended after the markets plunged more than 7%. It’s the second time this week that falling prices triggered the so-called ‘circuit breaker’ mechanism, introduced on Monday. Investors are spooked by the depreciating yuan and disappointing manufacturing data. Moves by the Chinese Central Bank are fuelling fears that the world’s second largest economy is slowing down. Brent crude prices have also hit new 11-year lows due to concerns about oversupply.
DP World launches 36-hour Dubai-Iraq sea link
DP World has launched a 36-hour maritime service linking Dubai’s Mina Rashid with Iraq’s Umm Qasr Port, offering a faster alternative to overland trucking.
Parkin expands into Abu Dhabi under partnership with DAMAC
The paid parking operator Parkin has signed a five-year agreement with DAMAC Properties to manage around 3,600 parking spaces across the developer’s communities in Dubai and Abu Dhabi.
Dubai hosts Sustainable Bio International Forum
The Sustainable Bio International Forum, hosted by Dubai on Friday under the theme “From the UAE…to a Greener World”, discussed the future of sustainable bioenergy and its role in supporting a low-carbon circular economy.
TerraUSD creator Do Kwon sentenced to 15 years over $40 billion crypto collapse
Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, was sentenced on Thursday to 15 years in prison for what a judge called an "epic fraud".
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