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currencies

Mysterious, lucrative or risky? The pros and cons of trading in bitcoin

"Is it a bubble that is about to burst?” Gregg Petersen, regional sales vice president for the Middle East and Africa at Veeam, a Swiss-based information technology company, told Zawya.

“If the cryptocurrencies continue to grow as fast as they are, I don’t think you will see them lasting for the next two years at this fast rate, I don’t think this is possible, the bubble will burst before then,” he added.

On the other hand, another technology expert, who spoke on condition of anonymity, told Zawya in an email interview on Thursday afternoon that bitcoin’s major advantage is “the potential returns that can be made even with relatively small investments”.

Sunday 17 December 2017- ZAWYA
culture

My Salaam: Hijabi model Halima Aden, Dubai Modest Fashion Week and Emirati astronauts going into space

Twenty-year-old hijabi model Halima Aden needs no introduction. The Somali-American teen last year made headlines as the first hijab wearing contestant in a popular pageant in the U.S.

The bold move catapulted her career to new heights, including being the first hijabi signed by a major modeling agency. My Salaam caught up with Halima, who was in Dubai last weekend to attend the Dubai Modest Fashion Week.

Moving away from fashion, this week we sat down with some of the organisers of the UAE Astronaut Programme, which plans to send four Emirati astronauts into space. Participation in the recently announced initiative is a once-in-a- lifetime opportunity that should not be missed.

Thursday 14 December 2017- ZAWYA
gcc

2018 outlook: GCC set for the fastest growth in three years - report

Economic growth in the Gulf region is set to improve next year, after two difficult years of low oil prices and government austerity measures, according to a report released on Wednesday.

In its 2018 forecast, global advisory firm Oxford Economics predicted that the six members of the Gulf Cooperation Council (GCC) will grow by 2.7 percent, compared to just 0.3 percent in 2017.

This is the fastest expansion in three years and comes on the back of rising oil prices, helping to ease government austerity measures put in place over the last few years, the report said.

The UAE’s economy, the second largest in the Arab world after Saudi Arabia, was also given the thumbs up by a senior International Monetary Fund official this week, who predicted that the country’s economy is expected to recover gradually next year, with no significant blow to growth expected from the introduction of a 5 percent value-added tax in January.

Thursday 14 December 2017- ZAWYA
markets

Priming the pump: ADNOC Distribution's IPO fuels Abu Dhabi stock market

The biggest stock market listing on the Abu Dhabi Securities Exchange in a decade is set to take place on Wednesday as shares in the fuel distribution arm of the Abu Dhabi National Oil Company (ADNOC) are listed.

In total, 1.25 billion (10 percent) of shares in Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) are being sold to investors at a price of 2.50 UAE dirhams per share, which has allowed the company to raise 3.125 billion ($851 million).

Wednesday 13 December 2017- ZAWYA
uae

Space time: What applicants need to know to win a seat on the UAE Astronaut Programme

Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum last week announced on his official Twitter account a new government-backed initiative to select, train and sponsor four UAE citizens to become astronauts and represent their country in space exploration trips.

The programme will be managed by Dubai’s Mohammed Bin Rashid Space Centre (MBRSC) and on Monday two of its top officials spoke about the programme’s timeline and application process.

“Participating in this programme carries an opportunity that will not be repeated and happens only once and our youngsters should benefit from it,” according to Yousuf Hamad AlShaibani, director general of MBRSC.

Tuesday 12 December 2017- ZAWYA
currencies

Bitcoin: Everything you need to know about the rise of the largest and best-known cryptocurrency

Trading in bitcoin futures began late on Sunday, opened at $15,460 in New York, before leaping to a high of $16,660. The cryptocurrency has skyrocketed to a record high this year, making a gravity-defying 15-fold gain since the start of the year and attracting institutional interest.

However, not everyone is convinced and Mark Haefele, global chief investment officer at UBS, said in an interview in November that “ultra-high net worth individuals are not investing in bitcoins but are very interested in it”.

Still confused? Reuters has compiled a factbox of everything you might not know about the largest and best-known cryptocurrency.

Monday 11 December 2017- ZAWYA
jobs

A long shot: MENA employers receive 1,000 applications per role - Bayt.com CEO

The Middle East and North Africa region has witnessed a massive growth in the number of jobseekers since 2011, but the number of jobs available has been declining, according to the chief executive of a regional jobs website, who described the trend as dangerous.

“From the moment we started in the Middle East, we were seeing worth of 400 applicants per job. But since the Arab Spring, we are generally seeing over 1,000 applicants per advertised job,” Rabea Ataya, the founder and CEO of Bayt.com said at the second annual UAE Security Forum held in Abu Dhabi on Wednesday.

Sunday 10 December 2017- ZAWYA
travel and tourism

My Salaam: Dubai Modest Fashion Week; Five mosques showcasing European Islam, and plan for Emirati astronauts announced

My Salaam covers fashion, food, travel, culture, entertainment and personalities that shape and affect the lives and lifestyles of young Muslims around the world.

The top stories covered this week include a look at some of the big names attending this week's Dubai Modest Fashion Week, a list of five beautiful European mosques, news of a pop-up modest-fashion store in The Netherlands and the UAE's bid to send Emiratis into space.

Thursday 7 December 2017- ZAWYA
real estate

Going down: Dubai homes fall in value to lowest level in four years - report

Capital values in Dubai's residential property market have dropped to their lowest level in four years, according to a new report by property consultancy Cluttons.

Consultancy Cluttons said the emirate's residential market "remains in a state of flux", with performance depending on the location and price band in question. Comparing current unit prices to those at the peak of the market in the third quarter of 2008, it found that Burj Khalifa apartments had fallen in value by 71.2 percent.

Thursday 7 December 2017- ZAWYA
uae

Women in business: Sharjah summit highlights challenges, but also sets pledges by global firms aimed at improving empowerment

The first Women's Economic Empowerment Global Summit (WEEGS) took place in Sharjah this week in conjunction with United Nations (UN) Women - a UN organisation responsible for promoting gender equality and female empowerment.

The event featured panel discussions on the challenges facing women in fields such as technology, science, media, marketing, transport, travel, energy and environment, as well as the signing of pledges by global organisations like P&G and Citi aimed at supporting women-owned businesses.

Wednesday 6 December 2017- ZAWYA
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