France will block development of Facebook Libra cryptocurrency

French Economy and Finance Minister Bruno Le Maire said they will prevent the development of Libra. (File/AFP)
Updated 12 September 2019

France will block development of Facebook Libra cryptocurrency

  • “I want to be absolutely clear: in these conditions, we cannot authorize the development of Libra on European soil,” Le Maire said
  • Social media giant Facebook previously announced its new product, the Libra cryptocurrency

PARIS: France warned Thursday it will block development of Facebook’s planned Libra cryptocurrency in Europe because it threatens the “monetary sovereignty” of governments.
“I want to be absolutely clear: in these conditions, we cannot authorize the development of Libra on European soil,” Le Maire said at the opening of an OECD conference on virtual, crypto currencies.


Dubai announces $136 million extra stimulus package

Updated 24 October 2020

Dubai announces $136 million extra stimulus package

  • The announcement takes Dubai's total stimulus measures this year to 6.8 billion dirhams

DUBAI: Dubai has announced a new 500 million dirhams ($136.14 million) stimulus package to support the local economy, taking Dubai's total stimulus measures this year to 6.8 billion dirhams, the crown prince of the emirate said on Twitter on Saturday.
"The private sector is a major partner in Dubai's development process, and we have adopted a set of new exemptions for some fees and a reduction in rents for some sectors, as well as an extension of the validity of a previous set of exemptions from fees," said Sheikh Hamdan bin Mohammed Al-Maktoum.