Business
Dubai cements role as crypto hub at TOKEN2049 conference
Crypto industry gathers in Dubai amid mixed sentiment on Trump and market outlook.
DUBAI, May 1: Thousands of cryptocurrency enthusiasts gathered in Dubai on Wednesday for the TOKEN2049 conference, as optimism about the industry’s future remains high despite growing uncertainty around U.S. President Donald Trump’s pro-crypto policies.
The two-day event features a high-profile lineup of speakers, including CEOs from major global crypto firms, the heads of digital assets at BlackRock and Goldman Sachs, and Eric Trump, son of the U.S. president, who is scheduled to speak on Thursday.
President Trump, once a skeptic of digital currencies, has recently shifted his stance, pledging to ease regulations on the crypto sector and even launching his own cryptocurrency. This pivot sparked enthusiasm in the industry following a turbulent period in 2022 marked by the collapse of several major crypto firms.
However, the initial surge in cryptocurrency prices after Trump’s election victory has lost momentum. Bitcoin has dropped around 12% from its peak this year, with sentiment dampened by global trade tensions and concerns that Trump’s promised regulatory reforms are advancing more slowly than expected.
Despite this, the TOKEN2049 conference drew large crowds, with about 15,000 attendees expected. The atmosphere was lively, with music playing and even camels resting near the venue. Participants expressed a range of views on the impact of Trump’s policies.
“In the long term, it’s going to be good for crypto, but it really depends on the global economy,” said Miklos Veszpremi, COO of a web3-integrated streaming platform. “If tariffs start affecting countries, we could face some tough times.”
Still, the industry has seen a strong start to 2025. According to PitchBook, global venture capital investments in crypto firms reached $5.4 billion in the first quarter — the highest since mid-2022.
Among the attendees was Herbert R. Sim, wearing a bitcoin-themed jacket, who said it’s difficult to gauge the full impact of Trump’s policies. “So far, the progress has mostly been on the regulatory side. Things are easing up in America,” he noted, while navigating crowded marketing booths and outdoor attractions like zip lines.
Dubai and the wider United Arab Emirates are rapidly establishing themselves as crypto hubs. Major firms are expanding in the region, drawn by supportive regulation and business-friendly conditions. Binance, the world’s largest crypto exchange, announced in March a $2 billion investment from Abu Dhabi-backed MGX, strengthening its ties with the UAE.
Changpeng Zhao, Binance’s founder, received a warm welcome on the main stage. Zhao recently served a four-month U.S. prison sentence for violating anti-money laundering laws and stepped down as CEO as part of a $4.3 billion settlement with U.S. regulators. He remains a key shareholder in the company.
The UAE continues to embrace digital assets. Eric Trump revealed that bitcoin payments will be accepted for apartments in a newly announced Dubai tower by the Trump Organization, developed in partnership with a luxury real estate firm.
In parallel, Emirates NBD recently introduced crypto trading through its digital bank, Liv. The Dubai Multi Commodities Centre (DMCC), home to over 600 crypto companies, plans to launch a “crypto tower” in 2027 to support further industry growth.
“It’s much easier to do business here,” said German attendee Andre Liesenfeld, reflecting the growing sentiment among international crypto firms looking to the UAE as a strategic base.
Business
Gulf Bank Concludes Successful Participation in University Admission Fairs at Kuwait University and Abdullah Al-Salem University
KUWAIT CITY, Aug 12: As part of its ongoing commitment to supporting education and empowering Kuwaiti youth, Gulf Bank has successfully concluded its distinguished participation in the university admission fairs at Kuwait University and Abdullah Al-Salem University. The Bank actively engaged with new students, introducing them to its tailored banking solutions designed specifically for young people.
Gulf Bank took part in the interactive admission fair held at Kuwait University’s Sabah Al-Salem University City in Al-Shadadiya from 19 to 29 July 2025. The Bank’s booth attracted a high turnout from students and parents, who showed great interest in the banking services designed for university students.
Similarly, the Bank participated in the admission fair hosted by Abdullah Al-Salem University at its Khaldiya campus from 6 to 17 July 2025. Gulf Bank’s presence featured direct interaction with visitors, providing comprehensive information on student accounts and other tailored services.
These participations are part of Gulf Bank’s continuous efforts to strengthen engagement with youth and support them in the early stages of their academic journey. Alongside sharing information on academic majors and admission processes, the Bank also offered financial tips to help students manage their resources effectively from the start of their university life.
At both events, Gulf Bank showcased its red account, one of its leading banking solutions designed for customers aged 15 to 25. The account offers a wide range of benefits, including prepaid cards, exclusive discounts, rewards on purchases, and access to unique events and experiences that enrich both personal and professional growth.
Beyond its features, the red account serves as a platform to promote financial literacy among youth, equipping them with the knowledge and skills to make informed financial decisions early in life – positively shaping their future and fostering a generation that is financially aware and capable of managing resources effectively.
Gulf Bank’s team expressed pride in supporting students throughout their high school and university years, offering innovative banking services designed to keep pace with their fast-paced lifestyles.
Gulf Bank concluded its participation by thanking the administrations of both universities for organizing the fairs, which serve as valuable platforms to connect with youth. The Bank reaffirmed its commitment to continuing its support for educational and youth initiatives that contribute to Kuwait’s development and enhance the quality of life for its students and community.
KUWAIT / LODNON, Aug 12: Menzies Aviation, the leading service partner to the world’s airports and airlines, has announced it will deliver ground, air cargo and fuelling services at Mosul International Airport (OSM) in Iraq through MASIL, its joint venture with Iraqi Airways, Air BP and Al-Burhan Group.
One fully operational, MASIL will provide a full suite of aviation services at OSM, under a new 10-year license, further strengthening its footprint in the region. This builds on MASIL’s operations at Baghdad International Airport (BGW).
MASIL provided ground services for the presidential flight that signified the official reopening of OSM. The flight, attended by Iraq’s Prime Minister Mohammed Shia’ Al Sudani, represented a landmark moment in the airport’s history, which has been non-operational since 2014.
The milestone underscores the joint venture’s capabilities and readiness to support future air traffic at the revitalised airport.
Mosul International Airport has undergone extensive reconstruction and is now equipped with a main terminal, VIP lounge, and advanced radar surveillance system. The airport is expected to be fully operational within the coming months, supporting both domestic and international flights and handling an estimated 630,000 passengers annually.
The expansion marks a significant milestone in the continued growth of the MASIL joint venture across Iraq and demonstrates Menzies’ commitment to supporting the country’s aviation infrastructure and long-term development.
Charles Wyley, Executive Vice President Middle East, Africa and Asia, Menzies Aviation, said: “We’re proud to expand our presence in Iraq with new operations at Mosul International Airport through our MASIL joint venture. This is a major step in our journey to support the redevelopment of Iraq’s aviation sector and bring world-class standards to the country’s airports. Handling the presidential flight was a privilege and a clear signal of MASIL’s professionalism and reliability as a trusted service provider.”
Menzies Aviation and Iraqi Airways formed MASIL in 2021 to provide ground handling, cargo, and fuelling services. The joint venture includes operations at key airports including Baghdad and will soon include Mosul, as it continues to support the modernisation of Iraq’s aviation sector.
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