Money & Business - Gulf Insider

1 week ago

‘Take the Badge Off’: Former Ferrari Boss Slams New $635k EV That Company Thinks Will Attract ‘Younger Buyers’

One week after Ferrari unveiled its first-ever all-electric car, called the Luce, the design continues to divide analysts. Some referred to the new model as a “mix between a Honda Accord EV and a Tesla,” while others said that Tesla’s Model S Plaid was far superior. The latest report from Goldman analysts provided new details about their most recent visit to Ferrari’s headquarters in Maranello. Last Friday, Ferrari hosted an investor day, which analyst Christian Frenes attended. He spoke with top Ferrari executives just days after the Luce reveal event in Rome earlier in the week. Frenes said management framed the Ferrari Luce as an “additive range model designed to expand the customer base.“ Management reaffirmed the Luce as a strategic entry point to engage new demographics and regions, particularly in markets with higher BEV penetration such as Asia and the Nordics while also targeting a new and younger customer group. The exterior design intentionally distinguishes the EV from existing ICE and PHEV models. Management also reaffirmed it remains aligned with its “technological neutrality” approach continuing to sell V12s and V8s to those interested. Beyond design, Ferrari’s battery-powered, four-door, five-seat Luce has another problem: its price tag – a staggering […]

1 week ago

Investor Guide 2026 Introduces Dedicated Property Ownership Provisions

Investor Guide 2026 outlines registration requirements for non-resident firms Dubai: Saudi Arabia has introduced new requirements for non-resident foreign companies seeking to own property in the Kingdom without establishing or conducting economic activities, as part of regulatory updates contained in the Investor Guide 2026. The Ministry of Investment said the new framework is intended to provide greater clarity for foreign entities pursuing real estate ownership while supporting the implementation of the Kingdom’s updated investment regulations. Under the requirements according to Okaz newspaper, foreign companies must submit a commercial registration certificate issued in their home country, together with articles of incorporation translated by accredited translators and authenticated through Saudi diplomatic channels. Companies are also required to provide documentation authorising a representative to act on their behalf in Saudi Arabia. The ministry said applicants must appoint an individual representative through a certified power of attorney to complete registration procedures. Foreign companies that do not possess an identification document recognised under Saudi regulations will also be required to obtain a digital identity through Saudi diplomatic missions abroad. For annual registration renewals, companies must confirm that no changes have occurred to their ownership structure or management since their registration with the Ministry of Investment. The […]

1 week ago

Binance Co-Founder Yi He Joins Fortune’s Most Powerful Women List in a First for Crypto

Yi He, Co-CEO and Co-Founder of Binance, has been named to Fortune’s annual Most Powerful Women in Business list in 2026, becoming the first crypto-native executive to appear on the global ranking. The recognition places her among 100 of the world’s most influential women in business leaders and marks a milestone for the digital asset industry as it becomes more deeply integrated into the global economy. A Historic First for Crypto Fortune’s Most Powerful Women list has traditionally featured leaders from major multinational corporations and long-standing institutions. Yi’s debut on the list this year reflects both the growing influence of crypto and Binance’s role in shaping the future of finance and technology. Yi co-founded the company in 2017 and has been central to its product vision, culture, and user-first approach ever since. In December 2025, she was appointed Co-CEO alongside Richard Teng, creating a dual-leadership structure that pairs her strategic and product expertise with his regulatory and operational leadership. Together, they guide Binance’s global strategy as the company enters its next phase of growth. “Being named to Fortune’s Most Powerful Women list feels meaningful — not just for me, but for crypto as a whole,” said Yi He. “A few years ago, a […]

1 week ago

ZEC Crashes As Zcash Admits ‘Critical Counterfeiting Vulnerability’ Exposed By Claude

Authored by Martin Young via CoinTelegraph.com, The price of ZEC fell on Thursday after further details were disclosed of a critical counterfeiting vulnerability in Zcash’s Orchard pool that could theoretically allow a bad actor to mint an unlimited amount of ZEC. According to a post on X, security engineer Taylor Hornby, who was engaged by Shielded Labs, discovered the bug on May 29 and disclosed it to the Zcash Open Development Lab (ZODL), which deployed an emergency response to fix the vulnerability with a hard fork activated on June 3. However, there are new concerns about the extent to which the vulnerability, which has existed since May 2022, has been used, leading Zcash to fall more than 30% over the past 24 hours to $410 at the time of writing. Its market capitalization has shrunk by more than $3 billion. However, BitMEX co-founder Arthur Hayes said on Friday it is unlikely that ZEC has been illegally minted this way, though he acknowledged “it cannot be formally cryptographically proved impossible.” “Sadly, due to the Orchard Pool exploit, I had to dump our entire ZEC bag,” he said. “The Holy Trinity is dead,” he added, referring to Zcash and the two other tokens he sold this week, Hyperliquid (HYPE) and […]

1 week ago

Iran Oil Exports Plunge To Four Year Low As Blockade Tightens, While Inflation Soars To World War 2 Levels

If it was indeed Trump’s intention to starve Iran’s economy of oil export revenue, the plan may just be working: Iran’s oil exports fell to their lowest level in at least six years in May as the US naval blockade has succeeded in choking off crude shipments and leave tens of millions of barrels stranded at sea. According to shipping data from Vortexa, Iran exported just 209,000 barrels per day of crude oil and condensate in May, down from 1.34 million bpd in April and nearly 1.9 million bpd in March. Kpler had estimated May exports slightly higher at 260,000 bpd, but still the lowest level since the height of the Trump administration’s “maximum pressure” campaign in 2019-2020. When the blockade first took effect in April, analysts expected Tehran to lean on floating storage while waiting for an opportunity to move barrels, which it did with ease as it had control of the strait thanks to its own blockade (much to our surprise, as we asked back in early March why the US didn’t do the same). But storage is no longer growing. According to Kpler, floating inventories have fallen from roughly 190 million barrels in late April to about 147 […]

1 week ago

EU Could Lose 1.3 Million Jobs Due To Energy Price Surge From Iran War

Up to 1.3 million jobs across the EU are at risk because of the ongoing war in the Middle East, European Commissioner for jobs Roxana Mînzatu said on Wednesday. “Due to the war in the Middle East, up to 1.3 million jobs are at risk, particularly in energy-intensive industries,” Mînzatu said at a press conference. “Let me also underline that increased energy costs will have a particular negative impact on lower-income households in Europe, which is why we recommend that all member states take targeted measures so that they can support vulnerable groups,” the Commissioner added. According to the report, the EU automotive sector could face the biggest layoffs of up to 600,000. Construction, metals, chemicals, transport could lose 56,000 jobs. Some 85,000 jobs in battery projects could be at risk and 58,852 jobs ⁠in solar manufacturing. Another 4,500 jobs could go in the steel sector because of low-carbon measures. In a stagflationary double whammy, Low-income ⁠households could spend an additional 1.4% of income on transport fuel. As Euronews reports, the warning came during the presentation of the 2026 Spring Semester Package, a bi-annual publication by the EU executive that provides guidance to the 27 member states on the bloc’s economic priorities. The conflict […]

1 week ago

Standard Chartered Sees Bitcoin Bottom “Almost In” As Crypto Crashes To 3-Month-Lows

After a brutal week for bitcoin (down over 20% in the last 9 days), Standard Chartered said the worst may soon be over for the largest cryptocurrency and the broader digital asset market. The bank’s Global Head of Digital Assets Research, Geoffrey Kendrick, said in a note entitled “The Low Is Almost In”, the bitcoin market is close to a bottom, arguing that structurally resilient spot exchange-traded fund holdings and an anticipated large buyback by Strategy make a compelling case that the worst of the current sell-off is over. “This week has been painful in crypto. There is really no other way of putting it,” Kendrick wrote in a client note on Thursday. “But I think when we look back at the end of 2026 with BTC at $100,000 and ETH at $4,000, we will say this was the buying zone we all wanted.” Bitcoin was trading around $64,000 at the time of writing, down roughly 2% on the day (after bouncing back from deeper losses), 14% on the week, 22% over the past month, and more than 40% over the past year. Ether was flat on the day (also bouncing back from 6%-plus losses earlier, and 26% over the past month, […]

1 week ago

Bahrain-Based Indian Expat Wins Dhs20 Million In Big Ticket Abu Dhabi’s Live Draw

An Indian expatriate living in Bahrain has become the latest multi-millionaire after winning Dhs20 million in the Big Ticket draw held in Abu Dhabi on Wednesday. Krishna Kumar Syamala Ravindran was revealed as the grand prize winner, walking away with an Dhs20 million win, as MD Ranu Miah Miah claimed the keys to a brand-new Range Rover Velar. Kumar, a 43-year-old businessman from Kerala, has been living in Bahrain for the past 23 years while his family remains back home. He has been participating in Big Ticket draws for the last seven years. Reflecting on his journey, Krishna shared, “I started participating around the time COVID began, nearly seven years ago. Sometimes I would purchase tickets with a small group of friends, and other times I would take part on my own. This winning ticket was purchased independently.” Recalling the winning moment, he added, “I actually missed the call at first because my phone was switched off. When I eventually found out that I had won, I was in complete shock. I was literally shaking and still find it hard to believe.” Krishna also noted that the winning ticket had been selected entirely at random. Speaking about his plans, he […]

1 week ago

Quantum Computing: Hype Or The Real Deal?

The word “quantum” is defined as “an amount,” with its Latin root meaning “how much.” In physics, a quantum is the smallest discrete unit of any physical property. The adjective form, as in “quantum leap,” describes a sudden, significant, and fundamental change. It is also a perfect adjective for coining the next potential technological innovation—quantum computing. Quantum computing is being hailed as the next technology to revolutionize computing, following in AI’s footsteps. The headlines below, though confusing for non-quantum experts, are quite impressive: Google Unveils ‘Mind-Boggling’ Willow Chip, Solving 10-Septillion-Year Problem in Minutes World’s First 10,000-Qubit Processor Achieves 100x Leap in Qubit Count JUPITER Supercomputer Breaks World Record with 50-Qubit Quantum Simulation Caltech Physicists Build Massive 6,100-Qubit Neutral Atom Array A Photon Was Teleported Across 270 Meters in Stunning Quantum Breakthrough But promising headlines loaded with industry jargon have a long history of appearing well ahead of reality. Accordingly, let’s better understand what quantum computing is, why it matters, and whether the hype is justified and worth investing in. To understand quantum computing, we need to first understand what bits are. Every classical computer, from your smartphone and the laptop on your desk to El Capitan, the world’s most […]

1 week ago

Saudi Non-Oil Private Sector Growth At Its Fastest Pace In Three Months

RIYADH — Saudi Arabia’s non-oil private sector activity posted growth at its fastest pace in three months during May, signaling a strong recovery from the slowdown recorded in March. Companies attributed this rebound to the restoration of normal business conditions following earlier disruptions linked to the regional conflict, the resumption of previously suspended work contracts, and stronger domestic demand. The Riyad Bank Saudi Arabia’s Purchasing Managers’ Index (PMI) rose to 52.8 points in May 2026, representing a 2.5 percent increase and reflecting a notable improvement in the business environment. The non-oil private sector recorded stronger performance in May, with the index indicating a sharp increase in output driven by firmer domestic demand and more stable supply chains. However, growth in new orders remained modest amid another steep decline in exports. Business optimism also remained subdued, while rising input costs continued to exert significant upward pressure on output prices. According to the report, the index remained well below its long-term historical average of 56.8 points, with some companies reporting that ongoing geopolitical tensions in the region had continued to restrain the pace of growth. Despite the strong increase in output, demand conditions appeared relatively muted in May. New orders expanded overall, […]

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Search Here

‘Take the Badge Off’: Former Ferrari Boss Slams New $635k EV That Company Thinks Will Attract ‘Younger Buyers’

Investor Guide 2026 Introduces Dedicated Property Ownership Provisions

Binance Co-Founder Yi He Joins Fortune’s Most Powerful Women List in a First for Crypto

ZEC Crashes As Zcash Admits ‘Critical Counterfeiting Vulnerability’ Exposed By Claude

Iran Oil Exports Plunge To Four Year Low As Blockade Tightens, While Inflation Soars To World War 2 Levels

EU Could Lose 1.3 Million Jobs Due To Energy Price Surge From Iran War

Standard Chartered Sees Bitcoin Bottom “Almost In” As Crypto Crashes To 3-Month-Lows

Bahrain-Based Indian Expat Wins Dhs20 Million In Big Ticket Abu Dhabi’s Live Draw

Quantum Computing: Hype Or The Real Deal?

Saudi Non-Oil Private Sector Growth At Its Fastest Pace In Three Months

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