STANDPOINT by Atique Naqvi

Cryptocurrencies have gained popularity across the world. Facebook revives Libra plans; Value of global crypto market to reach US$1.6 trillion While the Facebook is re-thinking its plan to launch digital currency Libra, India’s highest court has lifted a ban on cryptocurrency today. India’s Supreme Court on Wednesday allowed trading in virtual currency, cryptocurrency and the likes of Bitcoin. However, the court’s decision might be over-shadowed by the upcoming bill proposed by India’s federal government. The draft bill seeks to prohibit mining, holding, selling, trade, issuance, disposal or use of cryptocurrency in India, and the violation could result in hefty fines and imprisonment of 10 years. For now, the supporters of cryptocurrency may rejoice as the draft bill might come in a distant future and may be toned down a tad bit after Supreme Court’s decision. The court ruled in favor of the Internet and Mobile Association of India, which was representing the inter...

The insurance market for small and medium enterprises (SME) in Dubai is likely to see significant growth in the first two quarters of 2020 owing to the positive sentiment around Expo 2020 and increased economic activity, a senior insurance executive said. Shrinking profits of SMEs have curtailed the spending power of such businesses in the past 12 to 24 months resulting in slow growth for SME insurance market, said a senior AXA Gulf executive. Speaking to Zawya on the sidelines of Smart SME MENA conference in Dubai last Wednesday, Lee said the growth opportunities in the SME insurance market is a result of strong initiatives by both Dubai and Abu Dhabi Governments. Click here to read from the original article on Zawya news website - a Thomson Reuters company.