LONDON: HSBC has no plans to launch a cryptocurrency trading desk or offer the digital coins as an investment to customers, because they are too volatile and lack transparency, its CEO Noel Quinn told Reuters.
Europe’s biggest bank’s stance on cryptocurrencies comes as the world’s biggest and best-known, Bitcoin, has tumbled nearly 50 percent from the year’s high, after China cracked down on mining the currency and prominent advocate Elon Musk tempered his support.
HSBC’s stance also contrasts with rival banks such as Goldman Sachs, which Reuters in March reported had restarted its cryptocurrency trading desk.
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Abu Dhabi National Oil Company announced the development of a 1,000-kilotonne blue ammonia facility at its downstream industrial hub of Ruwais on Monday.
But what is blue ammonia and what role does it have in the UAE s rapidly-evolving hydrogen strategy?
What is ammonia?
Ammonia is a chemical compound that is important to the global fertiliser industry. It consists of nitrogen and hydrogen and is formed with one molecule of the former and three of the latter.
Apart from fertilisers, ammonia has a variety of other uses - in pharmaceuticals, textiles, cleaning products and for wastewater treatment. The production of ammonia is a lucrative market valued at $72.8 billion last year, according to the Ammonia Market 2021 report.
‘I could live anywhere in the world I choose to stay in Saudi Arabia,’ says Abdurahman Afia
The reality is Saudi Arabia has one of the largest numbers of female entrepreneurs in the world and an incredible number of Saudi ladies now graduate from university
Updated 30 min 58 sec ago
SALEH FAREED
May 24, 2021 23:05
JEDDAH: A British expatriate who has lived in Saudi Arabia for more than two decades is showcasing the changing face of the country to hundreds of thousands of followers around the world and dispelling some of the misconceptions about life in the Kingdom
Abdurahman Afia was born and grew up in London. He moved to Saudi Arabia with his wife, Khadija, in 2000, and their four children 26-year-old Abdullah, 24-year-old Abdurahman, 20-year-olds Anas and Aisha were raised there.
World must seize the moment to end Israeli occupation
Chris Doyle
May 24, 2021 21:57
A man searches for belongings under the rubble of a building that was destroyed in Israeli air attacks in the northern Gaza Strip. (Reuters)
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Israelis are starting to relax after another Benjamin Netanyahu-Hamas ceasefire. After 11 days of violence, Israelis can restart their lives and get out of the shelters. Next week should also see a return to pre-pandemic normality. That is welcome. But not for one second should anyone suggest this is a ceasefire and calm for Palestinians. This is the typical error of world leaders and politicians, whose energies will fade away within days if the precedent of the many previous wars on Gaza is adhered to.
US media coverage of Israel-Palestine conflict is changing
Kerry Boyd Anderson
May 24, 2021 22:26
CNN’s Ben Wedeman reports in the midst of violent clashes between Israeli forces and Palestinian protesters in the West Bank. (Screengrab CNN)
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The latest round of Israeli-Palestinian violence highlighted shifts in how the US media reports on the topic and how Americans talk about it. These shifts are important, even if they are not yet likely to significantly shape US policy.
Media coverage of the Israeli-Palestinian conflict has shifted significantly in the last 10 to 15 years. However, it is important to understand that the starting point was a profoundly pro-Israel viewpoint. The spectrum of perspectives and information reported by US media and allowed in mainstream conversations has expanded. Twenty years ago, the spectrum of mainstream reporting, academic discussions and conversations within the foreign policy world was very limited. At one