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Bitcoin continues to pull away from stocks

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As the Ukraine war intensifies, cryptocurrencies continue to pull away from stocks.
Investors are looking for safe havens. Bitcoin jumped 18 per cent over the past three days, while the MSCI AC World Index has fallen in nine of the past 10 sessions, Bloomberg reported.
Proponents of Bitcoin dub it as a hedge against conflict and inflation, and cite its borderless nature and fixed supply.
Crypto’s image was hit when a crypto rout started in November. It sent Bitcoin plunging 52 per cent and there were concerns about central bank tightening.
It has made broad gains in digital tokens the past few days. This has revived the hope that they offer a shield against governments that can seize other types of assets.
It’s “fascinating that, after a week into geopolitical uncertainty, Bitcoin is outperforming gold, which is known as a safe-haven asset,” an analyst at UK-based digital asset broker GlobalBlock, Marcus Sotiriou, told Bloomberg.
On Wednesday, gold slipped 0.2 per cent, after rallying since late January.
There is likelihood of a crypto rebound and therefore, retail investors are piling in.
Most of the accumulation in Bitcoin over the last week came from smaller investors, according to data from Glassnode.
“This geopolitical environment is certainly a tailwind for crypto,” Jonathan Cheesman, head of over-the-counter and institutional sales at crypto-derivatives exchange FTX, reportedly told Bloomberg.
“This situation highlights the use case for a decentralised, neutral, algorithmic safe haven.”

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Salik’s next move: Smart parking coming to Dubai Silicon Oasis, DAFZ and Dubai CommerCity

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Salik is taking another step beyond toll collection, announcing plans to introduce smart parking and vehicle access systems across three of Dubai’s major economic zones.

Under a new agreement with the Dubai Integrated Economic Zones Authority (DIEZ), the company will explore parking optimisation and access control solutions covering more than 21,000 parking spaces at Dubai Airport Freezone (DAFZ), Dubai Silicon Oasis and Dubai CommerCity.

The proposed systems are designed to improve traffic flow, reduce congestion, prevent misuse of parking spaces and make it easier for businesses, employees and visitors to move around the free zones.

The partnership marks the launch of a new business vertical for Salik as it continues expanding beyond its traditional road toll operations into wider mobility and digital transport services.

What will change?

The companies plan to integrate their technology platforms to create a connected parking and vehicle access system across the three zones.

Planned features include:

  • Smart parking management
  • Automated vehicle access control
  • Improved traffic flow within free zones
  • Better use of available parking spaces
  • Unified operating standards across all three locations

Which areas are covered?

The project will span:

  • Dubai Airport Freezone (DAFZ)
  • Dubai Silicon Oasis
  • Dubai CommerCity

Together, the three locations offer more than 21,000 parking spaces serving businesses, residents, investors and visitors.

No timeline has yet been announced for when the new systems will be rolled out.

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New UAE rule: Emirates ID renewal now allowed one year before expiry

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The UAE has doubled the early renewal period for Emirates ID cards, allowing renewals up to 12 months before expiry under a new decision by the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP). Effective July 14, the change applies to UAE nationals for now.

Renew passport and Emirates ID together

The extended renewal window means citizens whose passport and Emirates ID expire around the same time can now renew both documents in a single transaction, reducing paperwork and saving time.

ICP said the initiative forms part of its strategy to simplify government services, improve customer experience and provide greater flexibility through digital services.

Supporting zero government bureaucracy

Major General Suhail Saeed Al Khaili, Director General of ICP, said the decision reflects the UAE’s commitment to delivering proactive government services while giving citizens more flexibility to complete transactions at a time that suits them.

He added that the initiative supports the UAE’s Zero Government Bureaucracy Programme by reducing procedural steps, improving service integration and using advanced digital technologies, including artificial intelligence, to streamline the customer journey.

The authority said the new policy is part of its wider effort to deliver integrated, digital-first government services while strengthening the UAE’s position as a global leader in identity and public service innovation.

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Dubai warns media against publishing false news after Downtown explosion claim

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Dubai authorities have warned media organisations against publishing false or unverified reports after claims circulated that explosions had been heard in Downtown Dubai.

In a statement posted on X, the Government of Dubai Media Office (GDMO) said the emirate would take the necessary legal measures against outlets that publish inaccurate information, in line with local and federal laws.

The warning came after a brief Reuters report cited witnesses claiming they had heard booms in Downtown Dubai on Thursday. The report did not identify the source of the sounds or confirm that any incident had taken place.

The Dubai Media Office rejected the claims, stating that no explosions had occurred in the Downtown area and describing the report as false.

Authorities also urged media organisations and the public to rely on official sources for information and avoid sharing rumours or unverified reports that could cause unnecessary confusion.

The statement reinforces Dubai’s long-standing approach to combating misinformation, particularly during fast-moving events, with authorities stressing the importance of accurate reporting and verification before publication.

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