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Deutsche Bank predicts crypto freefall to continue while Binance put up resilient face

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A Deutsche Bank report has predicted more gloom for the cryptocurrency space even as the CEO of the biggest exchange, Binance, tried to firefight it with assurance at a DIFC Fintech Week event in Dubai.

Binance CEO Changpeng Zhao said the industry will overcome price drops, with bitcoin now trading around the $20,000 mark from a high of $68,000. But if an evaluation from the leading German bank is to be believed, the crypto market is facing mounting pressures and the freefall is expected to continue, although it did predict a 28,000 price for bitcoin by the end of the year.

Several cryptocurrencies were on the red on Thursday, with the global market cap falling by 1.71 percent to $889.81 billion as of 9:55am. Bitcoin was down 0.85 percent to $19,982.20 over the last 24 hours, while Ethereum fell 3.94 percent to $1,089.12.

In a report on Wednesday, DB said that it is unlikely for prices to stabilise, citing that there are no “common valuation models like those within the public equity system”. The market is also highly fragmented, it added.

“Some cryptocurrencies may drop in prices, and some projects may fail, but the industry will stay,” said Zhao, the founder of the world’s largest cryptocurrency exchange, in a pre-recorded message at the Fintech Week on Tuesday.

“In 2000, the dot com bubble saw many companies going bust, but the dot com technology (Internet) went on to survive.”

Zhao’s comments came just a few days after he announced that Binance has 2,000 positions for hiring, a sharp contrast to a slew of job cuts by companies operating in the digital currency space.

Recently, Bitcoin tumbled to a new 18-month low, dragging smaller tokens down with it and spurring a sharp fall in the digital currency market sparked by crypto lender Celsius freezing customer withdrawals.

bitcoin-price-historyZhao went on to say in his speech that blockchain is a proven technology and it is not a bubble that will pop.
“Many different innovations are coming into the crypto space. There are also failures in this industry, but failures are important in this industry. Failures allow us to learn from them and improve,” he said.

Zhao said that decentralised finance (DeFi), which includes now cryptocurrencies and non-fungible tokens (NFTs) enabled by blockchain technology, has been around for years, and it is going to stay.

“In the next 5 to 10 years, decentralised finance (DeFi) could be bigger than centralized finance (CeFi). That’s why we are making heavy investments in this area,” he said.

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Real estate

City Walk Northline: Dubai’s next stylish urban address to elevate everyday living

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Dubai’s most walkable lifestyle hub is getting a sleek new extension. Meraas, part of Dubai Holding Real Estate, has awarded a Dh440 million contract to GCC Contracting to develop City Walk Northline, a premium residential expansion that’s set to reshape life in one of the city’s most vibrant neighbourhoods.

Expected to be completed by 2027, City Walk Northline will feature three modern residential buildings that seamlessly blend with the area’s contemporary energy, offering residents a fresh take on urban living with more space, more light, and more lifestyle experiences right at their doorstep.

A new home in the heart of the action

City Walk Northline 1 will house 114 one- to three-bedroom apartments, while Northline 2 will feature two eight-storey towers with 190 units, all designed with open layouts, elegant finishes, and private terraces that extend the indoors into Dubai’s year-round sunshine.

Set between Jumeirah Street and Sheikh Zayed Road, the new development gives residents instant access to the best of the city, from Coca-Cola Arena and Dubai Mall to Jumeirah Beach, all just minutes away.

Designed for the way Dubai lives

The new residences will introduce a refined, minimalist aesthetic, inspired by City Walk’s architectural rhythm and landmarks such as The Green Planet and Central Park. Interiors will be bathed in natural light, with premium materials, sleek kitchens, and timeless design touches that balance comfort and style.

Residents can look forward to infinity-edge pools, modern gyms, shaded terraces, and stylish communal lounges, all designed to offer a private retreat from the city buzz while staying connected to its energy.

A community built around lifestyle

For residents, the expansion means even more walkable dining, leisure, and green spaces, reinforcing City Walk’s identity as a place where people can live, work, and play without ever needing to leave the neighbourhood.



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Automobile

Gopichand Hinduja: Honouring a visionary who strengthened the UAE–India business bridge

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The passing of Gopichand Hinduja, Co-Chairman of the Hinduja Group, marks the loss of a remarkable visionary whose leadership transcended borders and industries.  The chairman of the Hinduja Group and one of Britain’s wealthiest businessmen died in London on Tuesday, November 4, at the age of 85, according to PTI. Fondly known as ‘GP’ in global business circles, Hinduja had been unwell for several weeks and passed away in a London hospital, said sources.

Under his stewardship, the Hinduja Group evolved into a diversified multinational conglomerate spanning automotive, energy, banking, infrastructure, and technology, with a growing footprint in the Gulf region, particularly in the UAE.

He recognised the UAE not just as a commercial hub, but as a key growth market and a platform for innovation and sustainability. His belief in the nation’s vision of economic diversification inspired strategic collaborations that strengthened local industries while deepening India’s enduring partnership with the Emirates.

Hinduja also acknowledged the region’s dynamic reforms and its emergence as the ‘Capital of Global Wealth,’ aligning perfectly with the Group’s guiding philosophy of ‘think local, act global.’ Under his direction, the UAE became an essential regional hub for the Hinduja Group’s business expansions across the Asia-Pacific and beyond.

One of the Group’s most promising ventures in the region is Switch Mobility, formed through the merger of Ashok Leyland’s electric vehicle division and the UK-based Optare. The company exemplifies Hinduja’s long-term vision for a greener, smarter future. In line with the UAE’s sustainability goals and Saudi Arabia’s Vision 2030, Switch Mobility had planned trial runs of its electric buses and light trucks in both countries this year, signalling a new era of sustainable mobility in the Middle East.

Hinduja’s influence was never confined to business. He believed deeply in “business with a purpose”, emphasising philanthropy, education, and community empowerment as integral parts of success. His humility, spirituality, and people-first leadership style earned him respect across continents.

As the UAE continues to evolve as a hub for innovation and sustainable development, Gopichand Hinduja’s legacy endures in every partnership, investment, and idea that bridges nations for a better tomorrow. 

Gopichand Hinduja leaves behind his spouse Sunita, two sons Sanjay and Dheeraj, and daughter Rita.

Sources: India Today, Gulf News, PTI

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Announcements

DP World ILT20 Crowns ‘Habibi & Habibti’ as mascot winners

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The DP World International League T20 concluded its first-of-its-kind Mascot Design Competition this week. The competition was held from 4 July to 21 September. 

The competition captured the imagination of students across the UAE. With an overwhelming number of entries, the activation demonstrated the extraordinary creativity, enthusiasm, and energy that cricket inspires among young minds, making it a truly nationwide celebration of sport, culture, and community. 

The grand mascot unveiling was held at the Sheikh Rashid Auditorium, Indian High School, Oud Metha. The winning student, Levin Veeroy Fernandes, was officially announced, and his imaginative design (Habibi and Habibti) was transformed into the official mascot of the DP World ILT20, now set to become the face of the league for seasons to come. 

The event featured an exciting reveal ceremony, with the student’s design brought to life and presented in front of a vibrant audience, celebrating not only Levin’s creativity but also the remarkable participation of schools and students across the UAE. 

The DP World ILT20 extends its heartfelt thanks to all participants whose contributions made this initiative a resounding success. Each entry brought unique ideas and perspectives, reinforcing the league’s commitment to inspiring young minds and celebrating the spirit of cricket. 

DP World ILT20 CEO David White: “On behalf of team DP World International League T20, I want to thank all the participants for their efforts. For us, all of you are winners, we are delighted with the interest that the competition created across the UAE. 

“The DP World ILT20 is all about UAE and the development of the sport amongst present and future generations of cricketers. Sport and cricket in particular has helped bring together a number of communities and nationalities across the UAE. Cricket has a four-decade long legacy in the country and with the continued growth of the league, the future of cricket not only in the UAE but across the Gulf region is bright and exciting.”  

Indian High Schools Group CEO Shri Punit MK Vasu: “Our partnership with DP World ILT20 presents a remarkable platform for our learners to witness world-class cricket in Dubai while embracing the deeper lessons the sport imparts.  

“At The Indian High Group of Schools, we uphold the belief that cricket’s enduring spirit fosters respect, discipline, leadership, resilience, teamwork, and composure under pressure, values that cultivate not only accomplished athletes, but also well-rounded, future-ready individuals prepared to lead with integrity, ethics and purpose in a global arena.” 

The DP World International League T20 Season 4 will begin on Tuesday, 2 December – UAE National Day (Eid-Al-Etihad) with a blockbuster opening, the six-team, 34-match tournament will conclude with the final on Sunday, 4 January 2026. 

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