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After receiving $145 million from Binance.US's operator by 2021, Sigma Chain spent $11 million on buying a yacht, the SEC complaint said, without elaborating. It is unclear from the SEC complaint how much money Zhao is alleged to have drawn from Merit Peak and Sigma Chain. The SEC also said Zhao used Merit Peak to direct more than $16 million to fund Binance's purportedly independent U.S. affiliate Binance.US. Binance used its BUSD holdings to meet customer withdrawals by selling them for dollars as needed, Reuters reported in May. The SEC complaint also identified Binance Labs, a venture capital arm of Binance, as part of the exchange's plan to increase demand for BNB.

Persons: Zhao, Binance, Benoit Tessier LONDON, Changpeng Zhao, John Reed Stark, Stark, Binance's, Angus Berwick, Tom Wilson, Lisa Barrington, Hadeel Al, Elisa Martinuzzi, Alexander Smith Organizations: Viva Technology, Porte de, REUTERS, Binance, Securities and Exchange Commission, SEC, Swiss, Sigma Chain, Reuters, Silicon, Internet, Futures Trading Commission, U.S . Justice, Reuters Graphics, Silvergate Bank, Merit, Sigma, Binance Labs, Thomson Locations: Porte, Paris, France, Binance, U.S, Virgin Islands, Dubai, London, Hadeel Al Sayegh

☆ Dubai ruler announces plan for mothballed second palm-shaped island
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

DUBAI, May 31 (Reuters) - Dubai’s ruler on Wednesday announced a new plan for the Palm Jebel Ali, a man-made palm-shaped island that has been dormant since 2009 following a real estate crash, and is double the size of the functioning Palm Jumeirah. State-owned company Nakheel, which was taken over by the government in 2011 as part of a $16 billion (10 billion pounds) rescue plan in the aftermath of Dubai’s 2009-2010 real estate crash, is the developer of the islands. Nakheel in November secured 17 billion dirhams ($4.63 billion) in financing as it accelerates plans for new waterfront projects including Dubai Islands, another man-made island project formerly known as Deira Islands. The real estate market in Dubai, the Middle East's financial and tourism hub, began its recovery in early 2021 as the government moved to quickly reopen its economy and airports. Reporting by Yousef Saba; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Sheikh Mohammed bin Rashid Al Maktoum, Yousef Saba, Emelia Sithole Organizations: Wednesday, Thomson Locations: DUBAI, Jebel Ali, UAE, Dubai, Ukraine, Nakheel, Deira

☆ Just what is phygital art, and why is Dubai going big on it?
▼ + stars: | 2023-05-29 | by ( Mark Tutton | ) edition.cnn.com time to read: +8 min

CNN —“Phygital art” may not be the most elegant phrase in the English language, but it is generating a buzz in certain circles. The Art Dubai international fair has a digital component exploring new media and technology trends, including phygital works. Separately, Christie's hosted its Art + Tech Summit at Art Dubai this year. Pablo del Val: Phygital works of art can also be NFTs, but a phygital work of art doesn’t necessarily need to be an NFT. Cedric Ribeiro/Getty Images Europe/Getty Images for Art DubaiWhy is phygital art important to you?

☆ The United Arab Emirates Is Heading for the Asteroid Belt
▼ + stars: | 2023-05-29 | by ( Kenneth Chang | ) www.nytimes.com time to read: +1 min

Building off the success of its Hope spacecraft, which is still circling and studying Mars, the United Arab Emirates announced on Monday plans for an ambitious follow-up mission: a grand tour of the asteroid belt. “The asteroid belt mission was the right amount of challenge,” said Sarah al-Amiri, chairwoman of the United Arab Emirates Space Agency. “Interesting science relevant to the science community, good opportunities for collaboration.”The spacecraft, named MBR Explorer after Sheikh Mohammed bin Rashid al-Maktoum, the ruler of Dubai and prime minister of the United Arab Emirates, is scheduled to launch in 2028. In February 2030, the spacecraft will arrive at Westerwald, a 1.4-mile-wide asteroid, zipping past at 20,000 miles per hour on its way to visit six more objects in the asteroid belt between Mars and Jupiter. “We would get a more detailed look at the surface of the asteroid,” said Hoor al-Mazmi, the science lead for the mission.

In a statement on Saturday, the RSF accused the army of violating the ceasefire and destroying the country's mint in an air strike. Those who remain in Khartoum are struggling with failures of services such as electricity, water and phone networks. On Saturday, Sudanese police said they were expanding deployment and also called in able retired officers to help. Services have collapsed and chaos has spread in Khartoum," said 52-year-old Ahmed Salih, a resident of the city. The RSF has denied reports that its soldiers are engaged in sexual assaults or looting.

☆ Why an empty sand plot in Dubai sold for a record $34M
▼ + stars: | 2023-05-23 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +6 min

The sale – for 125 million dirhams (AED) – marks a whopping 242% gain over his original purchase price of 36.5 million AED, or just under $10 million, in 2021. Jumeirah Bay Island is also home to plenty of sandy beaches and a marina for dozens of yachts, high-end restaurants, a gym and a spa center. Jumeirah Bay Island, on the other hand, is much smaller at just 0.22 square miles, and is considered more exclusive. Current listings show an empty plot for sale on Jumeirah Bay Island for 90 million AED, or about $24.5 million. A three-bedroom, four-bathroom apartment in the Bulgari complex on the island is being offered for 60 million AED, or about $16.3 million.

☆ 6 essential tips for surviving long flights, from a former Air Force pilot who now flies one of the longest commercial flights in the world
▼ + stars: | 2023-05-18 | by ( Claire Turrell | ) www.businessinsider.com time to read: +5 min

Emirates pilot Yusri Abu Bakar used to be in the Singapore Air Force before switching to commercial. He now flies an A380, piloting one of the longest flights in the world from Dubai to New Zealand. A former Republic of Singapore Air Force pilot, Yusri Abu Bakar pivoted from flying an F-16 fighter jet to an A380 as a commercial pilot for Emirates airline out of Dubai, where he is based. Yusri flies this long-haul flight two or three times a month, in line with regulations regarding how many hours a pilot can fly a month. Pack noise-canceling headphones and an eye maskPacking a well-thought-out carry-on can improve your long-haul flight experience, Yusri said.

"I am moving freely around my forces, I am present in Bahri, I am present in Omdurman, I am present in Khartoum, I am present in Sharq al-Nil," Hemedti said. "They are spreading rumours that Mohamed Hamdan has been killed, and these are all lies that show that they are being defeated ... 'FALLING APART'Residents report a rise in looting and lawlessness after police vanished from the streets at the outset of the conflict. On Monday an employee of Sharq el-Nil hospital said the southern part of the facility had been hit by an air strike. On Sunday Burhan froze the bank accounts of the RSF and affiliated firms, and replaced the central bank governor.

[1/3] A man walks while smoke rises above buildings after aerial bombardment, during clashes between the paramilitary Rapid Support Forces and the army in Khartoum North, Sudan, May 1, 2023. Riyadh and Washington earlier welcomed the "pre-negotiation talks" between the army and the RSF, and urged them to actively engage following numerous violated ceasefires. But both sides have made it clear they would only discuss a humanitarian truce, not negotiate an end to the war. Turkey's foreign minister said Turkey would move its embassy from Khartoum to Port Sudan following the attack. White House national security adviser Jake Sullivan was travelling to Saudi Arabia at the weekend for talks with Saudi leaders.

[1/3] Smoke rises above buildings after an aerial bombardment, during clashes between the paramilitary Rapid Support Forces and the army in Khartoum North, Sudan, May 1, 2023. "It's been four days without electricity and our situation is difficult," said 48-year-old Othman Hassan from the southern outskirts of the city. Despite multiple ceasefire declarations, the army and the paramilitary Rapid Support Forces (RSF) appeared to be fighting for territory ahead of proposed talks. The army and RSF, which had shared power after a coup in 2021, have accused each other of breaching a string of truces. The U.N. has pressed the warring sides to guarantee safe passage of aid after six of its trucks were looted.

☆ Dubai's stunning skyline shown in surreal, dramatic images
▼ + stars: | 2023-05-01 | by ( Nadia Leigh-Hewitson | ) edition.cnn.com time to read: +3 min

Now, artist Baber Afzal is capturing the city-state’s famous towers and spires in a new light through a series of stunning images that marry architecture, environment, and atmosphere. Afzal, 40, uses a combination of landscape and architectural photography, and visual art techniques, to illustrate the city of Dubai as he sees it. “Awareness of the climatic conditions gave birth to a unique editing style and technique to express my visions.”A Pakistani native, Afzal first started making art in 2007. “I gravitated toward the editing aspect since shifting color and contrast values really fascinated me.”Photographer and visual artist Baber Afzal captures Dubai in a unique light in his ethereal images. He believes that technology will play a significant role in the future of the art scene in Dubai.

[1/2] A view shows a damaged car at Martyr Muhammad Hashem Matar Street in Bahri, Khartoum North, Sudan, April 30, 2023, in this still image taken from video obtained by Reuters. Hundreds of people have been killed and thousands wounded since a long-simmering power struggle between the Sudanese army and the paramilitary Rapid Support Forces (RSF) erupted into conflict on April 15. Violence has rocked the capital Khartoum and risks reawakening war in the vast Western region of Darfur scarred by a two-decade old conflict, despite numerous ceasefire pledges. We are extremely concerned by the immediate as well as long-term impact on all people in Sudan and the broader region," he said. In Khartoum, the army has been battling RSF forces entrenched in residential areas.

He said no timeline had been set for talks. The prospects of negotiations between the leaders of the two sides have so far seemed bleak. "They both think they will win, but they are both sort of more open to negotiations, the word 'negotiations' or 'talks' was not there in their discourse in the first week or so," he said. While the sides had made statements that the other side had to "surrender or die," Perthes said, they were also saying, "ok we accept ... some form of talks". Jeddah had been offered as a venue for "military-technical" talks while Juba had been offered as part of a regional proposal by East African states for political talks.

At about 8.30 a.m. shooting started at the Soba military camp in the south of Khartoum, according to three eyewitnesses and an advisor within Dagalo's paramilitary Rapid Support Forces (RSF). Burhan's air force was studying where the RSF was gathered, using coordinates provided by the army, two military sources told Reuters, describing plans that have not previously been reported. The RSF, meanwhile, had been locating more and more gunmen at Soba and other camps across Khartoum, the same military sources said. The army also established a small committee of senior generals to prepare for a possible conflict with the RSF, the same sources said. Both the army and the RSF were quick to blame the other publicly for sparking the violence and attempting a power grab.

☆ Foster + Partners has designed a flying taxi 'vertiport' for Dubai
▼ + stars: | 2023-04-26 | by ( Flo Cornall | ) edition.cnn.com time to read: +2 min

The design was developed in collaboration with advanced air mobility (AAM) company Skyports Infrastructure, and endorsed by Sheikh Mohammed Bin Rashid Al Maktoum, ruler of Dubai, according to Foster + Partners. It would be located next to Dubai International Airport (DXB) and integrate with existing airport networks, as well as surrounding transport hubs. Foster + PartnersSky-bound taxisSheikh Mohammed Bin Rashid Al Maktoum tweeted in February that air taxi stations will start operating in Dubai within the next three years. The Emirate has long planned for a flying taxi service. RELATED: Driverless flying taxi service set to launch in DubaiIn 2022, the Chinese XPeng X2 successfully completed the first public test flight of its two-seater flying car at Dubai’s GITEX technology expo.

The army and the paramilitary RSF, which are waging a deadly power struggle across the country, had both issued statements saying they would uphold a three-day ceasefire from Friday for Islam's Eid al-Fitr holiday. The army has air power but the RSF is widely embedded in urban areas including around key facilities in central Khartoum. Burhan said the army was providing safe pathways but that some airports including in Khartoum and Darfur's largest city Nyala were still problematic. [1/5] People gather to get bread during clashes between the paramilitary Rapid Support Forces and the army in Khartoum North, Sudan, April 22, 2023. The army on Friday accused the RSF of raiding the prison, which the paramilitary force denied.

[1/5] People gather to get bread during clashes between the paramilitary Rapid Support Forces and the army in Khartoum North, Sudan, April 22, 2023. The army and the paramilitary RSF, which are waging a deadly power struggle across the country, had both issued statements saying they would uphold a three-day ceasefire from Friday for Islam's Eid al-Fitr holiday. The army has air power but the RSF is widely embedded in urban areas including around key facilities in central Khartoum. The army said the United States, Britain, France and China would evacuate diplomats and other nationals from Khartoum "in the coming hours". The army on Friday accused the RSF of raiding the prison, which the paramilitary force denied.

[1/2] Smoke rises from burning aircraft inside Khartoum Airport during clashes between the paramilitary Rapid Support Forces and the army in Khartoum, Sudan April 17, 2023. Gunfire was heard in Bahri and residents reported violent clashes west of Omdurman where they said the army had moved to block the arrival of RSF reinforcements. Some of the most intense fighting has been focussed around the compound housing the army HQ and the residence of Sudan's military ruler, General Abdel Fattah al-Burhan. The army controls access to Khartoum and appeared to be trying to cut off supply routes to RSF fighters, residents and witnesses said. More people have been leaving the capital with most able to pass but some stopped at checkpoints, according to residents and social media posts.

[1/4] People gather at the station to flee from Khartoum during clashes between the paramilitary Rapid Support Forces and the army in Khartoum, Sudan April 19, 2023. Guterres and senior officials from the U.S., Saudi Arabia, Qatar, Turkey and Egypt called Sudan's army chief General Abdel Fattah al-Burhan to urge an end to violence. Urging a three-day ceasefire, he said civilians trapped in conflict zones should be allowed to escape and to seek medical treatment, food and other supplies. Witnesses in the city of El-Obeid, east of Darfur, described clashes between the army and RSF troops and widespread looting. Many other local people remain trapped, along with thousands of foreigners in a city that has become a war zone.

The army's high command said it would continue operations to secure the capital and other regions. Khartoum residents were asked to limit their electricity usage, as the state's distribution authority said the servers that manage online purchases of power had gone out of service. Many residents planned to travel south to rural areas of Khartoum state or Gezira state if the ceasefire had held. The outbreak of fighting pitting Sudan's military leader General Abdel Fattah al-Burhan against RSF chief General Mohamed Hamdan Dagalo, followed rising tensions over a plan for the RSF's integration into the regular military. Reporting by Khalid Abdelaziz in Khartoum, Nafisa Eltahir; Writing by Aidan Lewis; Editing by Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.

"The hospitals now serving the wounded are so few, with limited number of doctors, so there's overcrowding of wounded," said Esraa Abou Shama, a doctor at Sudan's health ministry. Over four days of fighting nine hospitals in Sudan have been hit by artillery and 16 forcibly evacuated, the Sudanese Doctors' Union said, with none still providing a full service inside the capital. His hospital's water and cooking gas tanks have been hit, many staff fled, and diesel fuel for the power generator is almost exhausted, he said. Staff cannot access the morgue because of the fighting, so dead bodies are stored in rooms with air conditioning turned up. "We all have the same problems - electricity, water, staff.

LAUNCESTON, Australia, April 18 (Reuters) - There is an increasing disconnect between the forecasts for strong global oil demand growth this year, led by Asia, and the reality of weakening margins for refined fuels. The profit from turning a barrel of Dubai crude into refined products at a typical Singapore refinery dropped to $2.53 a barrel on Monday. The falling margins on refined fuels may result in refiners in Asia processing less, especially as crude costs continue to rise. Despite the current problems facing refiners, both OPEC and the International Energy Agency (IEA) are sticking to bullish forecasts for crude demand growth in 2023. OPEC is also maintaining a bullish view for 2023 oil demand growth, keeping its forecast for an increase of 2.32 million bpd in its latest monthly report.

The regular army and the rival paramilitary Rapid Support Forces (RSF) issued statements accusing each other of failing to respect the ceasefire. "We have not received any indications here that there's been a halt in the fighting," United Nations spokesman Stephane Dujarric told a news briefing in New York. The fighting has triggered what the United Nations has described as a humanitarian catastrophe, including the near collapse of the health system. Fighting also raged in the west of the country, the United Nations said. [1/7] Satellite image shows a closer view of a burning building at the Merowe Airbase, Sudan, April 18, 2023.

From a vantage point in his home, Motasim said that earlier on Tuesday he could see RSF troops aiming anti-aircraft missiles from the street below. Residents from other districts said shops had been looted and people ejected from homes by armed men. In the well-heeled Khartoum 2 district, an area that is home to embassies and RSF offices, residents said RSF troops had stormed homes and raided supermarkets. RSF buildings and bases are dispersed across the capital, often in densely populated areas that have become a focus for fighting. Elsewhere in the capital area, several people told Reuters they saw RSF troops dispersing quickly into streets of residential districts when airstrikes began.

[1/3] Smoke rises from the tarmac of Khartoum International Airport as a fire burns, in Khartoum, Sudan April 17, 2023 in this screen grab obtained from a social media video. U.S. Secretary of State Antony Blinken said an immediate ceasefire was needed, saying that view was shared by the international community. By Sunday it appeared that the army was gaining the upper hand in the fighting in Khartoum, using air strikes to pound RSF bases. Sudan has been affected by rising levels of hunger in recent years as an economic crisis has deepened. The WFP says it reached 9.3 million people in Sudan, one of its largest operations globally.

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