Crypto Tycoon Arrest| Scoop

Global News?

US Finalizing Plans To Send Advanced Air Defense to Ukraine?

In a potentially decisive move, the United States was finalizing plans to send its advanced Patriot air defense system to Ukraine, while allies donated slightly over 1 billion euros ($1.05 billion) to aid Ukrainians in surviving the bitter winter.?

According to two officials who spoke to Reuters on Tuesday, Washington might decide to provide the Patriot as soon as this Thursday. The Patriot is regarded as one of the most sophisticated American air defense systems, and allies from around the world compete for it because it is frequently in short supply.

The plans were also covered by the Associated Press, which cited three officials who spoke on the record on the condition of anonymity because the decision had not yet been taken and was not yet final.

Tech Tiramisu?

Elon Musk to Launch Twitter Blue Subscription?

Twitter, owned by Elon Musk, will try to relaunch its premium Blue membership on December 13th. Users can pay $8 per month ($11 if they subscribe on iOS) to get early access to new features and, of course, a blue checkmark. The social media platform tried to introduce the new subscription service last month but scrapped the plan after a flurry of phony yet confirmed accounts inundated the network.

NASA’s Orion Spacecraft Successfully Returned?

Over the weekend, NASA's Orion spacecraft successfully landed on our planet, splashing down on Sunday in the Pacific. NASA expects that this will change with a subsequent 2024 journey that will take a group of astronauts around the Moon, even though this Artemis I mission was unmanned.

Market Sorbet

Saudi riyal remains stable amid global fluctuations

Investment Minister Khalid Al-Falih emphasized Saudi Arabia's stable monetary policy.

"All currencies around the world witnessed fluctuations except the Saudi riyal, thanks to the Kingdom’s wise economic policy that brought about stability for its currency. The debt rate in the entire world economy, even in the leading countries, is increasing. However, the debt rate in the Kingdom decreases to 25 percent,” he said while addressing the Saudi Budget Forum 2023 in Riyadh on Sunday.

Al-Falih described Saudi Arabia’s budget as “historic”, especially in light of the world's challenges.

According to the minister, the Kingdom has the highest economic growth in the world. He pointed out that the non-oil economy grew at a rate of 6 percent, which is contrary to those who attribute Saudi economic growth to oil prices alone.

Al-Falih praised the stability witnessed by the Kingdom in terms of legislation and policies and the empowerment of the private sector.

As a result of the Coronavirus crisis and the economic shocks that followed in the countries of the world, he stated that spending has grown by 9 percent and a surplus has been achieved, which he referred to as "rare" at the level of global economies.

He said political stability and clarity of vision are what investors seek worldwide. “Many sectors in the Kingdom are available for foreign investment. We focus on investments with a very high economic impact,” he added.

?Stockberry

Saudi stocks rebound ahead of Fed meeting; most Gulf markets retreat

Stock markets in the Gulf ended lower on Tuesday ahead of a U.S. inflation report, which could influence Fed policy for the year, while the Saudi index rebounded from a 20-month low. Markets expect a smaller 50 basis point hike from the Fed on Wednesday, followed by a slew of other central banks. But investors are focused is on its forward-looking commentary about monetary policy and the economy. There are several Gulf Cooperation Council countries, including Saudi Arabia, the United Arab Emirates, and Qatar, whose currencies are pegged to the dollar. Their policy moves closely follow the Fed, which exposes them to the direct effects of monetary tightening in the world's largest economy. The Abu Dhabi index fell 1% for a sixth straight session, weighed down by a 3.1% slide in First Abu Dhabi Bank, the country's biggest lender. The Abu Dhabi bourse continued to record price corrections. However, it could see a reversal if oil prices rebound more consistently in the future, Daniel Takieddine, CEO of MENA at BDSwiss, said. "The market could also react to the Federal Reserve's decision." Dubai's main share index dipped 0.5%, hit by a 1.9% fall in Emirates NBD Bank. Saudi Arabia's benchmark index, however, bucked the trend to close 1.9% higher, a day after it hit its lowest in 20 months. Oil - a key catalyst for the Gulf's financial markets - pared gains after rising by over $1 earlier in the session, as declining optimism over a Chinese oil demand recovery capped support from supply disruptions. Outside the Gulf, Egypt's blue-chip index jumped 2.9%, as most of the stocks on the index were in the positive territory including tobacco monopoly Eastern Company, which ended up 8.3%.

Cryptocandy

Disgraced cryptocurrency tycoon Bankman-Fried arrested in Bahamas

Disgraced cryptocurrency tycoon Sam Bankman-Fried was arrested in the Bahamas on Monday at the request of US authorities seeking to charge him after his FTX platform collapsed spectacularly. “Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the US Government, based on a sealed indictment filed by the southern district of New York,” said a tweet from Damian Williams, lead prosecutor for the district. But after reaching a valuation of $32 billion, FTX`s implosion was swift following a November 2 report on ties between FTX and Alameda, a trading company also controlled by Bankman-Fried. The report exposed that Alameda`s balance sheet was heavily built on the FTT currency -- a token created by FTX and with no independent value. FTX and 100 related entities filed for bankruptcy protection on November 11, reeling from customer withdrawals and short of some $8 billion. This invited scrutiny from regulators, prosecutors, and furious clients who had believed the hype about cryptocurrency. In the revelations, FTX is suspected of fraudulently propping up Alameda with billions of dollars that are now lost forever.

See you next Wednesday??