Dubai stock market hits 11-year high as salik and air arabia surge

Decentralized finance (DeFi) protocol Ethena and tokenization firm Securitize have announced their partnership with Arbitrum’s tech and data availability network Celestia for their upcoming Converge chain. This Ethereum-compatible blockchain project is focused on real-world assets and is set to launch its mainnet in the second quarter of this year.

The Converge chain aims to have fast block times, allowing users to pay gas fees through Ethena’s USDe and USDtb tokens, while ensuring security through its Converge Validator Network. The project plans to launch a testnet in the coming weeks, followed by the mainnet before the end of Q2, according to Carlos Domingo, co-founder and CEO of Securitize.

The public rollout timeline will also depend on third-party integrations such as Anchorage and Fireblocks, as well as partnerships with other DeFi applications. Converge, unveiled last month, seeks to bridge the gap between tokenized real-world assets (RWA) and the DeFi space, leveraging Ethena and Securitize’s existing ecosystems.

Ethena has established itself as a DeFi powerhouse with its USDe stablecoin, while Securitize has tokenized assets worth billions from traditional finance giants. The Converge chain’s performance is supported by a custom sequencer for an Arbitrum-powered blockchain and Celestia as the data availability layer. This combination aims to enhance throughput on EVM-based networks.

The network will utilize Ethena’s USDe and USDtb tokens as gas tokens for transaction costs and will support both permissionless and permissioned applications. Additionally, the Converge Validator Network (CVN) will act as the chain’s security council, with validators required to stake ENA, Ethena’s governance token.

Overall, the partnership between Ethena, Securitize, and the Converge chain is expected to drive growth in USDe, USDtb, and other related products, bringing new opportunities in the DeFi space.

Pavel Durov, the founder and CEO of Telegram, has been granted permission by French authorities to leave France temporarily amidst an ongoing investigation into criminal activities allegedly facilitated through his messaging platform. Durov, who had been under judicial supervision since his arrest in August 2024, departed for Dubai on Saturday, March 15, 2025, with authorization to remain abroad for several weeks. France 24

The TON token pumped 20% after the news. Neither Durov or Telegram have made any public comment following initial reports from various media outlets.

The investigation centers on accusations that Telegram has been used to enable organized crime, including drug trafficking and money laundering. French prosecutors allege that Durov’s platform has not sufficiently cooperated with law enforcement efforts to curb these illegal activities. Following his arrest, Durov was required to post a €5 million bail and was prohibited from leaving France until the recent court approval. Reuters

This development has heightened tensions between France and Russia, especially in the context of the ongoing conflict in Ukraine. The case has also sparked discussions about the balance between protecting free speech on digital platforms and ensuring compliance with law enforcement to prevent criminal misuse. Reuters

Durov’s temporary relocation to Dubai, where Telegram is headquartered, raises questions about the future direction of the platform and its policies regarding content moderation and cooperation with international authorities. As the investigation continues, the tech community and users worldwide are closely monitoring the situation for further developments.

Ford has dramatically reduced vehicle prices in Argentina, slashing costs by up to 18% after President Javier Milei took an axe to the country’s steep automobile taxes. The libertarian leader eliminated the first tier of the “luxury tax” entirely and cut the second tier from 35% to 18%, a move expected to boost sales and encourage investment in the struggling auto sector.

Several of Ford’s most popular models are now significantly more affordable. The Bronco Sport and Kuga Hybrid saw 15.5% price reductions, while the iconic Mustang V8 dropped 18%. Even high-performance and electric models benefited—the Bronco V6 is now 13% cheaper, and the all-electric Mustang Mach-E is down 8.5%.

But Milei’s reforms don’t stop there. In a bid to modernize Argentina’s vehicle market and encourage sustainable transportation, his government is also eliminating import tariffs on 50,000 low-cost electric and hybrid vehicles per year. This measure is expected to drive further price drops, making Argentina a more attractive market for global automakers.

Ford’s South America President, Martín Galdeano, has praised the shift, citing lower financing costs, rising wages, and tax cuts as key factors revitalizing the industry. With these reforms, Argentina’s auto market is poised for a major resurgence, potentially attracting more foreign manufacturers looking to expand their footprint in Latin America.