UAE
UAE firm acquires 49% stake in Trump-linked crypto venture
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A UAE investment firm backed by a powerful royal has purchased a 49% stake in World Liberty Financial, a cryptocurrency company tied to the Trump family, for $500 million just days before Donald Trump's second inauguration. The deal, reportedly aimed at securing access to US AI technology, has sparked ethics concerns amid ongoing crypto legislation. Critics, including Senator Elizabeth Warren, have called for congressional scrutiny over potential conflicts of interest.
A $500 million investment by a UAE royal family member into a Trump family cryptocurrency company has sparked accusations of corruption and conflicts of interest. The deal, finalized days before Donald Trump's January 2025 inauguration, involved World Liberty Financial and has drawn scrutiny from ethics experts. Critics question whether subsequent US policy decisions favoring the UAE, such as allowing Nvidia AI chip imports, were influenced by the investment.
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A trade delegation from the UAE's Ras Al Khaimah is in Hong Kong promoting its first integrated resort, featuring the country's inaugural casino operated under the brand of Hong Kong-listed Wynn Resorts. The group highlights Hong Kong's role as a key gateway to Asia and China. The project is scheduled to open in 2027.
The third-place playoff of the FIFA Arab Cup Qatar 2025 between Saudi Arabia and the United Arab Emirates was suspended and abandoned because of severe lightning storms near the stadium. Instead of rescheduling, FIFA's committee declared the match a 0-0 draw, allowing both teams to share third place and split the prize money equally. This unusual decision has drawn scrutiny over the handling of competitive fixtures.
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South Korean Industry Minister Kim Jung-kwan met with his United Arab Emirates counterpart Sultan Al Jaber in Seoul on Thursday to discuss expanding cooperation in artificial intelligence and energy sectors. The meeting follows up on the leaders' summit held in Abu Dhabi last November. Both sides agreed to South Korea's involvement in the UAE's Stargate project and to increase joint oil stockpiling for energy stability.
Roman Novak, a convicted Russian cryptocurrency fraudster, and his wife Anna were abducted and killed in the United Arab Emirates after a failed ransom attempt targeting his digital assets. The couple disappeared during an investor meeting near Hatta in early October, leading to a joint investigation by Russian and UAE authorities. Seven suspects have been arrested in connection with the brutal crime.
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Nathaniel Raymond from Yale urges Sweden to use its influence to make the UAE stop arms support to the RSF militia in Sudan. Satellite images reveal ongoing massacres in Al-Fashir, where over 200,000 people are trapped. The Swedish government defends its arms exports but prioritizes humanitarian aid.
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