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Twitter ‘goes’ crypto

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Twitter, one of the most popular social media platforms, is building a new division, called Twitter Crypto.

In a statement, the social media giant said it has appointed Tess Rinearson to lead the division that will set the strategy for the future of crypto at Twitter.

Rinearson said on Twitter that her team would be working with Bluesky, an independent Twitter-funded effort to produce a decentralized social network standard.

Twitter’s iOS users have already been given the facility in September to send and seek tips for bitcoin, the world’s largest cryptocurrency. The company now seeking to incorporate decentralised technology into its products and infrastructure. It also announced to explore crypto payments for other features like its Ticketed Spaces, saying all people do not want to accept traditional currencies.

The social media company’s move comes amid the Web 3.0 movement, which is challenging Big Tech companies that store user data. While in the web3 ecosystem, decentralised applications run on public blockchains without collecting data by any one party.

Before Twitter, Reddit and Discord have also hinted to support web3 to explore ways to integrate with decentralised apps.

It is also essential to know the difference between centralised and decentralised apps. Centralised apps are controlled by a single company and are run by a single server. While decentralised apps are run by many companies or servers and are preserved from being crashed or hacked.

The company said Rinearson will work under Twitter chief technology officer Parag Agrawal, and the team will help drive Twitter’s push toward decentralizing social media.

Twitter CEO Jack Dorsey has been a vocal proponent of cryptocurrency, especially Bitcoin. In March, he displayed a Bitcoin clock while testifying before Congress and opened a new Bitcoin business unit for Square in July.

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Dubai issues new law to regulate the construction and contracting sector 

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In a major move to enhance governance and transparency in the construction and contracting sector, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has issued Law No. (7) of 2025 regulating contracting activities across the emirate.

The new legislation introduces a unified regulatory framework aimed at standardising contractor classification, improving oversight, and reinforcing accountability across the sector. It is designed to align with Dubai’s strategic vision for sustainable development and global best practices in urban planning and infrastructure.

Oversight Committee to Lead Sector Reform

A central provision of the law is the establishment of a new Contracting Activities Regulation and Development Committee, which a representative from Dubai Municipality will chair. The committee will include members from various government entities involved in the sector.

The committee will be tasked with:

  • Approving and supervising contracting activities
  • Defining regulatory responsibilities across entities
  • Proposing new policies and legislative updates
  • Resolving jurisdictional conflicts
  • Establishing a sector-wide code of ethics
  • Coordinating with public and private stakeholders

Digital Transformation of Contractor Registry

Dubai Municipality has been appointed as the lead authority to manage the sector’s transformation. It will establish and operate a fully integrated electronic platform for all contracting activities in the emirate. The platform will be linked to the existing Invest in Dubai portal and serve as the official contractor registry.

The Municipality is also responsible for:

  • Issuing professional competency certificates
  • Creating a code of conduct for the industry
  • Classifying contractors in construction, building, and demolition
  • Enforcing compliance with approved classification and operating capacity

Law Applies Across Zones, with Specific Exemptions

The law applies to all contractors operating in Dubai, including those in free zones and special development zones, such as the Dubai International Financial Centre (DIFC). However, contracting activities related to airport infrastructure and other exceptions approved by the Executive Council are excluded.

Penalties and Compliance Deadlines

The law imposes strict penalties for non-compliance:

  • Fines ranging from Dh1,000 to Dh100,000
  • Repeat violations may result in doubled fines up to Dh200,000
  • Additional measures include license suspension, contractor downgrading, and removal from the registry

Contractors currently operating in Dubai must regularise their status within one year of the law’s implementation. This deadline may be extended by the committee for an additional year if necessary. Contractors with expiring registrations during this period can renew them by submitting a pledge to comply with the law.

Law Effective in Six Months

The new law will take effect six months after its publication in the Official Gazette, and any conflicting legislation will be annulled.

This initiative marks a significant step in reinforcing Dubai’s position as a global hub for world-class infrastructure, while ensuring higher levels of efficiency, transparency, and professionalism in the contracting industry.

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Royaloak launches in UAE bringing Indian design excellence to gulf

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Royaloak Furniture, one of India’s largest organised furniture retail chains, has announced its entry into the UAE market as part of a broader international expansion strategy. With an operational history spanning over 15 years and a customer base exceeding 5 million, the brand has opened three stores in the UAE—located in RAK Mall (Ras Al Khaimah), Lulu Mall (Fujairah), and Silicon Central Mall (Dubai)—each spanning nearly 20,000 square feet.

The move comes at a time when the UAE’s furniture and home décor industry is witnessing steady growth, driven by a combination of increased real estate development, rising urbanisation, and a growing population of design-conscious consumers. According to industry estimates, the UAE furniture market was valued at approximately USD 5.1 billion in 2024 and is projected to reach USD 5.4 billion by 2033, growing at a CAGR of 4.18%.

Royaloak’s entry adds momentum to the region’s expanding mid-to-premium furniture segment. The brand is known for its “Country Collection” that showcases curated pieces inspired by American, Italian, and Malaysian designs. The company sources products from manufacturing hubs across Asia and Europe, aiming to balance aesthetic appeal with functional quality.

“Our UAE expansion is aligned with market demand and retail opportunity,” said Mathan Subramaniam, Co-Founder and Managing Director of Royaloak. “What sets us apart is a vertically integrated model—from sourcing to distribution—which ensures both product consistency and affordability. With our dedicated warehouse in the UAE, we are equipped to provide fast, reliable delivery and a localised shopping experience.”

The stores are designed to cater to a wide demographic—offering furniture for living rooms, bedrooms, offices, dining areas, and outdoor spaces, in addition to home décor and mattresses. Each outlet is supported by Arabic-speaking staff to ensure culturally attuned customer service.

In tandem with its retail footprint, Royaloak has launched a dedicated UAE e-commerce platform, while also partnering with Amazon UAE and Noon to strengthen its omnichannel presence. The brand’s UAE entry is not just an expansion strategy but also a commitment to job creation and customer-centric innovation in one of the Middle East’s most competitive retail landscapes. The company plans further expansion across the Emirates in the coming year

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UAE announces fuel prices for June 2025

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The UAE fuel price committee on Saturday announced petrol and diesel prices for the month of June 2025.The Fuel Prices Monitoring Committee has kept the prices unchanged from the month of May.

Super 98 petrol will cost Dh2.58 a litre, compared to Dh2.58 a litre in May, while Special 95 will cost Dh2.47 a litre, compared to Dh2.47 a litre the previous month.

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E-Plus category petrol will be available for Dh2.39 a litre, compared to Dh2.39 a litre in May, while diesel will now cost Dh2.45 a litre, compared to Dh2.52 a litre the previous month.

The UAE deregulated fuel prices in 2015, aligning them with market fluctuations.

Fuel prices in the UAE are tied to movements in the global oil market, which has experienced significant volatility since the beginning of the year.

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