Ripple, a company that uses blockchain to speed up digital payments, is opening a new regional headquarters at the Dubai International Financial Centre.
The US-based company said it chose the centre as its Middle East and North Africa base for its innovative regulations and reputation as a leading financial centre.
“Ripple is one of the most exciting client additions to DIFC this year. They are well-regarded globally for innovation in the finance industry and therefore is a perfect partner and client for DIFC,” said DIFC Authority chief executive Arif Amiri.
“Together, we will advance the use of blockchain in Dubai, UAE and the region, and accelerate the Emirates Blockchain Strategy 2021.”
Ripple is a FinTech company in San Francisco that created the world's third-most actively traded cryptocurrency, which originally shared the same name but has now been rebranded as XRP.
Ripple still holds billions of dollars of XRP tokens, which have appreciated in value by 38 per cent since the start of the year to $0.26412 on Saturday, according to the Bitstamp exchange, giving the cryptocurrency a market capitalisation of just over $12 billion.
The company, however, has increasingly focused on working with governments, banks and other organisations to try to replace some of the older systems that exist between networks of correspondent banks for cross-border payments with a simpler system based on blockchain.
In the Middle East, it has signed deals with the Saudi Arabian Monetary Authority, Saudi Arabia's central bank, allowing banks to use its technology, with UAE-based lender RAKBank and with currency exchange company UAE Exchange.
The Central Bank of the UAE unveiled new rules governing stored value facilities in an effort to boost the country's digital payment services last week.
The UAE's banking regulator said that through the new regulations, it aims to facilitate easier market access to FinTech companies and other non-bank payment providers while ensuring that customers' funds are safe.
The specs
Engine: 2.9-litre twin-turbo V6
Power: 540hp at 6,500rpm
Torque: 600Nm at 2,500rpm
Transmission: Eight-speed auto
Kerb weight: 1580kg
Price: From Dh750k
On sale: via special order
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The Birkin bag is made by Hermès.
It is named after actress and singer Jane Birkin
Noone from Hermès will go on record to say how much a new Birkin costs, how long one would have to wait to get one, and how many bags are actually made each year.
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Farage on Muslim Brotherhood
Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
TOURNAMENT INFO
Opening fixtures:
Friday, Oct 5
8pm: Kabul Zwanan v Paktia Panthers
Saturday, Oct 6
4pm: Nangarhar Leopards v Kandahar Knights
8pm: Kabul Zwanan v Balkh Legends
Tickets
Tickets can be bought online at https://www.q-tickets.com/apl/eventlist and at the ticket office at the stadium.
TV info
The tournament will be broadcast live in the UAE on OSN Sports.
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
HOW TO WATCH
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Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Teaching in coronavirus times
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