Day: October 4, 2023

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Bybit Announces Participation in ETHMilan, Elevating the Conversation on the Future of Web3

DUBAI, UNITED ARAB EMIRATES – Media OutReach – 4 October 2023 – Bybit, the world’s third most visited crypto exchange, is thrilled to announce its participation in ETHMilan, one of the largest Web3 conferences in the world. The dates are Oct. 5-6, 2023 and the event will convene leading minds from blockchain and decentralized finance.

Bybit is a natural fit given its support of Web3 via its own Web3 wallet and integrations with decentralized exchanges and Ethereum staking pools. For starters, Bybit will run a workshop titled “What’s Behind the Next Bull Run?” with Luca Boiardi “The Crypto Gateway” and Valentina Marzioni “Ladyinfinance”.

In addition to the workshop, Bybit will have a dedicated booth at the event, providing attendees with an opportunity to engage directly with the Bybit team and learn more about Bybit’s role in bringing mass adoption to Web3 via products such as the Bybit Card, and bespoke institutional services. Bybit will also organize a Twitter contest, offering fans a chance to win free tickets to ETHMilan. Moreover, exclusive VIP promotions and a user registration reward package will further enhance the overall experience for participants.

“ETHMilan presents a significant opportunity for Bybit to engage with the innovators, leaders and stakeholders who will propel the blockchain industry forward,” said Ben Zhou, co-founder and CEO of Bybit. “By sharing our insights and fostering collaboration, we aim to contribute meaningfully to the discussions around building a more decentralized and inclusive financial system.”

About Bybit
Bybit is a cryptocurrency exchange established in 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions, the Oracle Red Bull Racing team, esports teams NAVI, Astralis, Alliance, Made in Brazil (MIBR), and Oracle Red Bull Racing Esports.

For media inquiries, please contact: media@bybit.com
For more information please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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SANA camera documents damage caused by Israeli aggression on Deir Ezzor

SANA -The Israeli air aggression that targeted the town of al-Hari and al-Bukamal border crossing in the Deir Ezzor countryside led to the destruction of a number of public facilities and citizens’ property.

The damage included the destruction of the Humaydah Bridge on the road connecting the city of al-Bukamal and the border crossing with Iraq, the water and electricity networks, in addition to causing damage to a number of residents’ homes and property.

SANA’s camera toured the areas affected by the aggression, and met a number of residents of the town of al-Hari.

The residents told SANA reporter that a state of panic struck children and women as a result of this aggression, and a number of livestock were injured by many shrapnel, in addition to the severely damage caused to the several houses and properties”

On Monday, the Israeli enemy carried out an air attack on some sites in the vicinity of Deir Ezzor, causing the injury of two soldiers in addition to material damage.

Source: Syrian Arab News Agency

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Head of Qatar Financial Information Unit: Qatar Achieved Highest Levels of Compliance in Combating Financial Crimes -1-

Lord Mayor of the City of London, Nicholas Lyons stressed the depth of relations between London and Doha as two key financial hubs, noting that financial services represent about 12 percent of his countrys gross domestic product. He pointed to the importance of regulation as the cornerstone of financial stability which prevents excessive risk-taking and ensures the ability of financial institutions to overcome economic recession. He added that the regulation ensures integrity, transparency and credibility, and enhances confidence and thus stimulates long-term growth.

He added that new innovations such as artificial intelligence, big data analytics, blockchain technology, and others pose new and major challenges.

He noted that compliance with anti-money laundering measures represents a high cost for businesses, with estimates indicating that money laundering costs the world between 2% and 5% of its GDP. He also said that regulatory approaches to combating money laundering vary globally and often lack transparency and efficiency, whose absence pose a challenge, given the lack of a global registry or clear guidelines for real-time data access.

He added that the UK Economic Crime and Corporate Transparency Bill aims to prevent organized criminals and fraudsters from using companies to abuse the open economies.

He warned of greenwashing, a deceitful marketing gimmick used by companies to exaggerate their environmental, social and governance (ESG)-friendly products, which harms the credibility of the broader market, noting that some ESG rating agencies have been recently slammed for their lack of data accuracy.

Meanwhile, Managing Director, Central and Eastern Europe, Middle East and Africa (CEEMA), for London Stock Exchange Group (LSEG), Sayed Nadim Najjar said that combating money laundering and related crimes is a challenge that requires an increasingly complex approach from both regulatory bodies and companies. He highlighted the importance of AI in battling money laundering, a practice that has plagued the world’s financial systems for decades.

The recent Crypto crash that erased over USD2 trillion in market value, serves as a stark reminder of the need for vigilant regulatory oversight. It also led to the unfortunate collapse of many cryptocurrency projects and investment funds, prompting a close digital asset scrutiny.

Najjar stressed the need to strengthen defense mechanisms against trade-based financial crimes, calling for a vigilant oversight to combat greenwashing, and ensure the environmental goals.

Former Chair of FIU, Egmont Group, Xolisile Khanyile said that compliance is essential to prevent crime infiltrating financial systems, protect the integrity of institutions, and support information-driven investigations, prosecutions and asset recovery.

Khanyile added that the implementation of the risk-based approach is still in its early stages in many countries, stressing the necessity of implementing the best preventive measures by the private sector.

She also stressed that asset recovery remains a challenge, with countries only recovering a small portion of their actual proceeds, calling for a more consistent criminal justice framework and encouraged partnerships to enhance cooperation and information exchange.

For his part, Executive General Manager and Chief Compliance Officer at Commercial Bank, Abdullah Al Fadli, stressed the increasing investment in compliance functions and regulatory technologies by institutions based in Qatar for sustainable programs to combat financial crimes. He said that a successful compliance program in the MENA region requires appropriate (needs-based) training and development to promote a sustainable culture of compliance.

Source: Qatar News Agency

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BFA participates in AFC 2023 Asian Cup workshop

Bahrain Football Association (BFA) delegation is to participate in the Asian Football Confederation (AFC) workshop for the 2023 Asian Cup.

The Asian Cup will be held in Qatar on January 12 – February 10.

The delegation will attend the workshop sessions that are organised and supervised by BFA, on October 4 – 6 in Doha.

The workshop includes many topics, including explaining the rules and regulations of the largest continental championship in many aspects such as technical, administrative, organisational, media, marketing, medical.

It also includes field visits to the stadiums that will host the matches, training fields, and residences.

The national team will play in Group E, which also includes the teams from South Korea, Malaysia, and Jordan.

Source: Bahrain News Agency

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Tamkeen Board of Directors holds Q3 2023 meeting

The Labour Fund (Tamkeen) held its third quarterly Board of Directors meeting for the year 2023, where the board reviewed the results achieved since the beginning of this year in accordance with the key performance indicators.

Tamkeen’s Chairman, Shaikh Mohammed bin Isa Al Khalifa, reiterated Tamkeen’s ongoing commitment to realising the vision of His Majesty King Hamad bin Isa Al Khalifa in making Bahrainis the first choice of employment in the labour market, in addition to the efforts of all the government stakeholders, under the leadership of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, collectively working as Team Bahrain to foster an environment that supports training and development for Bahrainis, thus enabling them to enter the labor market, access quality job opportunities and pursue entrepreneurship. He added that work is currently underway in coordination with the relevant government entities to introduce enhanced programs to support Bahrainis in the labor market.

He highlighted that the direction of the enhanced programs discussed during the meeting further emphasise Tamkeen’s pivotal role in affirming the positioning of the national workforce as the first choice of employment in the labor market and additionally enhancing their competitiveness locally and internationally. During the meeting, the Board reviewed updates about the programs and initiatives planned for the upcoming period which aim to support employment and career development for Bahrainis.

Maha Abdulhameed Mofeez, Tamkeen Chief Executive highlighted that Tamkeen supported more than 7,700 employment opportunities and more than 7,100 training opportunities through various programs and initiatives within the current year, and over 4,000 enterprises through various programs. These efforts place the organisation on track towards achieving its key performance indicators set for this year.

As part of ongoing training partnerships aimed at human capital development, Tamkeen also facilitated over 1,500 training opportunities in various fields including information technology, software engineering, data science, iOS applications development, 3D animation, game development and more. It is worth mentioning that these training programs achieved high success rates for graduates with 65% being either employed, promoted, or have start their own businesses as a result of completion.

When it comes to supporting enterprises and entrepreneurship, Tamkeen hosted six editions of StartUp Bahrain Pitch, an initiative aimed at connecting startups with potential investors and providing them with funding options and exposure through pitching events. During these pitching events, entrepreneurs present their concepts to a panel of judges featuring local and international investors and experts who select the winner of each event.

Tamkeen launched the second edition of the Young Entrepreneur (Mashroo3i 2.0) program which is aligned with efforts to encourage Bahraini youth to pursue entrepreneurship as a career path. The program enables participants to turn their concepts into viable businesses and launch them through training and an advisory bootcamp.

Source: Bahrain News Agency

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Shura committee hails open prisons programme success

The Shura Council’s Foreign Affairs, Defence and National Security Committee, chaired by Ali bin Mohammed Al Romaihi, has commended the Interior Ministry’s efforts which resulted in the graduation of the first batch of the beneficiaries of the Open Prisons Programme.

This reflects His Majesty King Hamad bin Isa Al Khalifa’s vision of consolidating rights and freedoms, as well as the humanitarian values and civilisational principles of the royal comprehensive development process, the committee said.

The panel asserted that the efforts of the Interior Ministry and the General Directorate of Verdict Enforcement and Alternative Sentencing to honour the programme graduates and sponsors add to the successes of the Alternative Sentencing project which has enhanced the kingdom’s human rights status and prestigious reputation, regionally and globally.

The panel noted that the initiatives of alternative sentencing and open prisons, implemented by the Ministry of Interior as per the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, have placed Bahrain among developed countries in the human rights field, adding to the kingdom’s rich record in preserving rights and freedoms, as confirmed by many international organisations.

The Shura committee extended thanks to General Shaikh Rashid bin Abdulla Al Khalifa, the Interior Minister, Shaikh Khalid bin Rashid Al Khalifa, the Director-General of Verdict Enforcement and Alternative Sentencing, and all the Ministry’s affiliates for their efforts to implement and ensure the success of the Open Prisons Programme and the Alternative Sentencing project.

Source: Bahrain News Agency

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Airline ‘flynas’ Receives 5 New Airbus A320neo, Increasing Fleet Size to 56

Saudi “flynas” airline announced the delivery of five A320neo aircraft to increase its all-Airbus fleet to 56 airplanes, reflecting a growth of more than 100% in the past two years.

The latest deliveries come as part of the expansion plan launched under the title “We connect the world with the Kingdom,” in line with the national strategy of civil aviation to reach 330 million passengers and 100 million tourists and increase the international destinations linked with the Kingdom to more than 250 by 2030.

With the delivery of the five new A320neo, the total number of airplanes received by flynas this year reached 11. A total of nineteen A320neo aircraft are scheduled for delivery by the end of the year.

The CEO and Managing Director of flynas, Bander Almohanna, said: “This new batch of aircraft reflects flynas’ commitment to achieving its strategy of growth and expansion by upscaling its fleet and multiplying the seating capacity of domestic and international flights in line with objectives of the Pilgrim Experience Program to streamline access to the Two Holy Mosques and the national strategy of civil aviation to enable national airlines to contribute to linking the world with the Kingdom.”

Almohanna added: “The company, over the next weeks, will receive eight new [air]planes as part of the batch scheduled for delivery in 2023 in a total of 19 aircraft, within an order of purchasing 120 aircraft from Airbus in a total amount exceeding 32 billion riyals.”

He indicated that flynas is preparing to launch its latest operations base in Madinah Airport before the end of 2023, making it the only carrier with four operations bases across the Kingdom.

flynas increased the number of its A320neo aircraft—the most advanced, environmentally friendly, and most fuel-efficient among single-aisle aircraft worldwide—to 39 aircraft, representing about 70% of its fleet, reinforcing flynas’ commitment to sustainability and environmental protection.

flynas connects more than 70 domestic and international destinations with more than 1,500 weekly flights, and it has flown more than 60 million passengers since its launch in 2007, with the aim to reach 165 domestic and international destinations, in line with the objectives of the Saudi Vision 2030.

Source: Saudi Press Agency

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Saudi Minister of Economy and Planning Meets with Portugal’s Minister of Agriculture and Food

Saudi Minister of Economy and Planning Faisal bin Fadel Al-Ibrahim, met here on Tuesday with the Portugal’s Minister of Agriculture and Food, Maria do Céu Antunes, on the sidelines of the sixth session of the Saudi-Portuguese Joint Committee.

The meeting dealt with promoting the economic relations and trade and investment cooperation between the two countries, along with a number of issues of common interest.

Source: Saudi Press Agency

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Saudi Vice Foreign Minister Meets with Speaker of Lower House of Tajik Parliament

The Saudi Vice Minister of Foreign Affairs, Eng. Waleed bin Abdulkarim El-Khereiji met here Tuesday with the Speaker of Lower House of Parliament of the Republic of Tajikistan, Zokirzoda Mahmadtohir Zoir at the headquarters of the Parliament in the Tajik capital, Dushanbe.

The meeting reviewed the bilateral relations and ways to enhance them in various fields, in addition to discussing aspects of parliamentary cooperation between the two countries in order to achieve common interests.

Source: Saudi Press Agency

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Saudi Hajj and Umrah Minister Begins an Official Visit to Morocco and Tunisia

Saudi Minister of Hajj and Umrah, Dr. Tawfiq bin Fawzan Al-Rabiah, began an official visit to the Kingdom of Morocco and the Republic of Tunisia.

Dr. Al-Rabiah will hold a series of meetings with a number of officials and relevant authorities in both countries to discuss the ways of facilitating the arrival procedures for Moroccan and Tunisian pilgrims and visitors to Kingdom of Saudi Arabia.

The visit comes within the international communication efforts to build bridges of communication with the Islamic world, and highlight unprecedented services and facilities that the Kingdom provides to pilgrims and visitors.

Source: Saudi Press Agency