Daily Archives: July 17, 2024

Business & Investments, Technologies

Bitget dominates crypto market with highest market share surge in H1- CCData Report

Global, July 17, 2024 – Bitget, the leading cryptocurrency exchange and Web3 company, has revealed in-depth insights into its growing market share as highlighted by CCData in the 2024 H2 Outlook Report. With the growing credibility and performance of centralized crypto exchanges, it’s more evident now than ever that there’s a shift in paradigm in crypto space.

CCData highlights the roles of various CEXs are changing as they take up new functions and responsibilities. Among which, Bitget has witnessed the ‘largest uptic’ in market share by 38.4% growth followed by Crypto(dot)com and Bybit at 24.6% and 22.2% respectively. While bigger players such as Coinbase, OKX and KuCoin saw declines as compared to other growing CEXs.

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Technologies

CMF Phone 1 makes record-breaking sales of 100,000 units in just 3 hours

CMF, the sub-brand of London-based technology company Nothing, recently launched CMF Phone 1, CMF Watch Pro 2 and CMF Buds Pro 2. On the first day of sales, the company hit 100,000 CMF Phone 1 units sold in just 3 hours. For context, it took 24 hours for Nothing to hit this sales figure for Phone (2a) in March 2024.

Rishi Kishor Gupta, Regional Director of Middle East & Africa at Nothing commented: “In a remarkable feat, the CMF Phone 1 has exceeded all projections by achieving sales of 100,000 units within just three hours of its launch. This unprecedented achievement highlights the exceptional qualities of the CMF Phone 1, which integrates cutting-edge technology, elegant design, and outstanding value.

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Business & Investments

ADGM Announces Fee Revision for Commercial Licences Starting 2025

ADGM introduces another initiative in line with its efforts to support the seamless transition of Al Reem businesses to ADGM following its expansion to Al Reem Island last year.

  • Fee revision applies to all categories of licenses and will be applicable from 1st January 2025.

Abu Dhabi, UAE, 17th July 2024 – ADGM, the international financial centre of the UAE’s capital, has announced significant revisions to its licensing fee schedule as part of its transitional arrangements for Al Reem Island businesses.  Starting from 1st January 2025, ADGM will implement major reductions of 50% or more for obtaining non-financial and retail licences within its jurisdiction. This initiative aims to enhance ADGM’s business ecosystem, making it more attractive and accessible for various enterprises.

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Shopping & Promotions

DSS DAILY SURPRISES BRING ANOTHER WEEK OF UNBEATABLE BARGAINS FOR DUBAI SHOPPERS

Dubai, United Arab Emirates, 17July 2024:Dubai Summer Surprises (DSS) 2024 continues to bring incredible discounts and massive savings for residents and visitors with the third week of DSS Daily Surprises. Organised by Dubai Festivals and Retail Establishment (DFRE), the city’s favourite calendar of limited-time deals runs until 4 August, promising unbeatable deals on everything from fashion and accessories to beauty, homeware, and much more.

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Business & Investments

Tron Energy Technology Corporation and MAP-Tron-E, Sign MoU for Taiwanese IP Electric Bus Manufacturing in the UAE  

Dubai, UAE – July 17, 2024 – In a groundbreaking move towards sustainable transportation in the MENA region, Tron Energy Technology Corporation and MAP-Tron-E have signed a Memorandum of Understanding (MoU) to establish a joint venture dedicated to the development and manufacturing of electric vehicle (EV) buses. The MoU was signed at a formal event, last night, by Richard Huang, CEO of Tron Energy Technology Corporation, and Akshay Aggarwal, Director of MAP-Tron-E, marking a significant milestone in the UAE’s journey towards sustainability and reduced carbon emissions. 

From Left to Right: Ashrik Karan, Amit Kumar Garg, Pankaj Kaul, Chintan Sareen, Prabhakaran S, Sunil Solanki, Anil Aggarwal, Mr. Nitin Bansal.

Seated: Akshay Aggarwal and Richard Huang

This partnership aims to bring cutting-edge EV bus technology to the UAE, aligning with the nation’s commitment to environmental sustainability. The joint venture will focus on the manufacturing of electric buses across the MENA region, becoming one of the first manufacturers of electric buses in the UAE. The joint venture will also develop sustainable charging infrastructure to support faster adoption and easier use of the EV buses. This initiative is expected to revolutionize the regional transportation sector, promoting eco-friendly and efficient transit solutions. 

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