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UAE and Saudi Arabia have announced their intention to create a joint cryptocurrency in order to strengthen cooperation, the WAM news agency reports. The news was announced at a meeting of the Emirates-Saudi Coordination Council in Abu Dhabi. The council was created by countries last year. It is headed by the Crown Prince of Abu Dhabi and the Crown Prince of Saudi Arabia. The leaders of the countries hope that the introduction of a joint cryptocurrency will facilitate payments between citizens of states and affect the development of technology. Countries also hope to assess cybersecurity risks and the impact of the single currency on monetary policy. For now, cryptocurrency will be available only to the central and commercial banks of the UAE and Saudi Arabia. The parties began to focus on bilateral integration after the diplomatic crisis around Qatar. Countries will also simplify customs procedures and conduct joint exercises to assess the sustainability of supply in crisis and natural disaster situations.
The self-driving car company Waymo LLC and Fiat Chrysler Automobiles NV (FCHA.MI) signed a partnership deal on Wednesday to fully develop self-driving cars, pickups, and SUVs. Waymo, an Alphabet Inc. (GOOGL.O) unit, and Fiat Chrysler said ...
Oil prices steadied on Tuesday, stuck in narrow ranges as investors pinned hopes on fuel demand recovery amid renewed lockdowns due to rising coronavirus cases. Prices were supported by positive news on vaccine development as medical institutions ...
On Monday, U.S. international banking giant Goldman Sachs (G.S.) said that it would resume negotiations with the Malaysian government this week to hammer out a multi-billion dollar financial settlement lost in a scandal at sovereign fund 1Malaysian ...
Glenmark Pharmaceuticals Ltd was given a notice by the Drug Controller General of India (DCGI) on overpricing and false claims of its generic version of favipiravir, FabiFlu, according to local media reports, sending the company’s ...
June had seen Japan’s exports recording a double-digit decline for four consecutive months. This suggests that the novel coronavirus pandemic tipped the world’s third-largest economy into its sharpest postwar slump, highlighting ...
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