CRISPR Therapeutics has faced a challenging market, with shares down 23% year-to-date despite recent regulatory approvals for its gene-editing medicine, Casgevy, which treats sickle cell disease and beta-thalassemia. The Biden administration's new Medicaid initiative aims to improve access to Casgevy, potentially expanding its market significantly. With a projected peak annual sales exceeding $2.2 billion, the company is well-positioned for future growth, although it currently reports minimal revenue.
CRISPR Therapeutics has faced a 23% decline in stock value this year despite recent regulatory approvals for its gene-editing medicine, Casgevy, which treats sickle cell disease and beta-thalassemia. The high cost of $2.2 million per treatment poses accessibility challenges, but a new U.S. government plan aims to help Medicaid patients afford it, potentially expanding access for many. However, the company reported only $1.6 million in revenue in the first nine months, indicating slow uptake of Casgevy.
UBS's CEO, Sergio Ermotti, emphasizes the bank's commitment to growth in the Middle East, driven by strong economic fundamentals rather than optimistic projections. Following its merger with Credit Suisse, UBS aims to double its growth trajectory in the region, capitalizing on the influx of wealthy individuals and ongoing economic diversification efforts in Gulf countries. The bank is focused on optimizing its operations and expanding its wealth management services, particularly in Saudi Arabia and the UAE, while integrating Credit Suisse's client base.
UBS aims to double its growth in the Middle East, focusing on economic fundamentals rather than optimistic scenarios, according to CEO Sergio Ermotti. The bank is integrating its operations post-Credit Suisse merger and anticipates significant growth driven by wealth creation and an influx of affluent individuals to the region. With a strong presence in Dubai and Abu Dhabi, UBS is poised to leverage opportunities in the evolving financial landscape of the Gulf.
Bahrain's Crown Prince Salman bin Hamad Al Khalifa has become the first recipient of a Crypto.com card powered by Mastercard, marking a significant milestone for the country's digital finance sector. This partnership allows transactions at over 150 million locations globally and offers an 8% reward on spending, showcasing Bahrain's commitment to innovative financial technologies. The move positions Bahrain as a fintech hub in the region, potentially attracting more companies and investments while influencing other nations in the Gulf Cooperation Council.
BitOasis, a Dubai-based cryptocurrency trading platform, has secured a full virtual asset service provider license from the Virtual Assets Regulatory Authority, following its acquisition by Indian exchange CoinDCX. This milestone allows BitOasis to enhance its existing services for retail and institutional investors in the MENA region. The firm, which previously held a provisional permit, aims to expand its product offerings and comply with regulatory requirements in the UAE.
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Singapore Gulf Bank is aiming to raise at least $50 million in a funding round and plans to acquire a stablecoin payments firm next year. The bank, established by the Whampoa Group and licensed in Bahrain since February, is negotiating with a Middle East sovereign wealth fund and other investors to sell an equity stake of less than 10% by early 2025.
Climate change responsibility is complex, with China as the largest current emitter, followed by the US and India. Historically, the US leads with 24% of emissions, while China accounts for 14%. Per capita emissions reveal that smaller, oil-dependent nations and Australia have the highest individual contributions, complicating climate finance discussions.
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