Bybit Raises the Bar: VIP Program Upgrades Set to Redefine the Trading Experience

DUBAI, UNITED ARAB EMIRATES – Media OutReach – 21 July 2023 – Bybit, the world’s third most visited crypto exchange, has unveiled its newly revamped VIP program. With a focus on enhancing user satisfaction and optimizing trading opportunities, the revamped VIP program introduces a range of new features and benefits.

Notable changes include revised fee rates for takers and makers across different VIP tiers. Bybit has lowered the taker fee rates while increasing the maker fee rates to beat rival crypto exchanges by offering unparalleled value to VIP and PRO clients. The updated fee structure ensures that traders enjoy a more lucrative and exciting trading environment.

Bybit has also expanded its PRO levels from three to five tiers. Current VIP users can now instantly upgrade to PRO Level when the proportion of their API transactions exceeds 20%. PRO users benefit from a more favorable maker rate, ensuring a competitive edge in their trading activities.

The level thresholds have also been adjusted to better reflect user activity, with PRO3 encompassing a transaction volume range of 500M to 1B, PRO4 spanning 1B to 2B, and PRO5 catering to volumes exceeding 2B.

As part of the VIP program update, the fee rates for these grades have been fine-tuned to further benefit traders. Precisely, the rates have been adjusted as follows: 0.035% reduced to 0.03% for PRO3, 0.0325% reduced to 0.0275% for PRO4, and 0.03% reduced to 0.025% for PRO5.

Finally, Bybit has meticulously fine-tuned option levels and rates, ensuring an optimized trading experience for options traders.

“Our unwavering commitment at Bybit lies in equipping traders worldwide with the means necessary to best navigate the waters of the contemporary crypto market,” said Ben Zhou, co-founder and CEO. “The revamped VIP Program is a substantial stride toward realizing this vision, promising key service improvements for our clientele.”

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About Bybit

Bybit is a cryptocurrency exchange established in 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions, the Oracle Red Bull Racing team, esports teams NAVI, Astralis, Alliance, Made in Brazil (MIBR), and Oracle Red Bull Racing Esports..

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UAE Ministry of Energy and Infrastructure collaborates with DNV to establish Maritime Decarbonisation Centre

DUBAI, 21st July, 2023 (WAM) — In a groundbreaking move that solidifies the UAE’s status as a global leader in sustainability and energy transition, the UAE Ministry of Energy and Infrastructure (MOEI) has announced the establishment of the “UAE Maritime Decarbonisation Centre.” As the first-of-its-kind Centre in the MENA region and the fourth globally. This pioneering initiative, developed in collaboration with DNV marks a historic milestone not only for the UAE but also for the entire Middle East and North Africa (MENA) region and sets a new standard for maritime decarbonisation efforts worldwide. The official signing ceremony to commemorate this historic partnership took place at the International Maritime Organisation (IMO) headquarters in London, UK. The signing brought together high-level government officials, industry leaders, and international stakeholders to celebrate this momentous occasion. By leveraging the expertise of DNV and harnessing the UAE’s strategic geographic location and maritime influence, the Centre aims to drive research, innovation, and collaboration among key stakeholders to accelerate the adoption of sustainable practices, technologies, and policies in the maritime sector. Setting a new standard for maritime decarbonisation Commenting on this partnership, Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, said, “The UAE leads numerous global competitiveness indicators in the maritime sector. It ranks 3rd globally in the Bunker Supply Index, 5th as a key competitive maritime hub and 12th in the transport lines index. This is a result of the competitive business environment the UAE provides, which attracts major international maritime companies and makes the country’s ports a preferred destination for international shipping lines. However, we will not rest on our laurels; we want to occupy the top position in all international maritime indicators. We look forward to innovations and digital platforms to contribute to enhancing the UAE’s position and improving its global ranking.” Al Mazrouei added, “The establishment of the UAE Maritime Decarbonisation Centre reflects our unwavering commitment to addressing climate change and promoting sustainable practices within the maritime industry. By collaborating with DNV, we aim to leverage their expertise and global network to drive innovation and accelerate the adoption of decarbonisation technologies. This Centre will play a pivotal role in advancing our national and regional sustainability goals, while contributing to the global efforts in combating climate change.” Reinforcing the UAE sustainability goals The establishment of the UAE Maritime Decarbonisation Centre is a testament to the UAE’s unwavering dedication to achieving its ambitious sustainability goals outlined in the UAE Net Zero 2050 Strategy. By spearheading the maritime decarbonisation efforts, the UAE aims to drive greenhouse gas (GHG) reductions that exceed global ambitions, positioning itself as a leading force in the global fight against climate change. The Centre will serve as a hub for research, development, and implementation of innovative technologies and strategies to reduce CO2 emissions in the maritime industry. It will conduct joint-industry projects, incubator and accelerator programmes, and future talent development initiatives. Furthermore, it will provide access to funding opportunities, foster collaboration among industry stakeholders, and serve as a knowledge hub by publishing research and information. “We are very pleased to collaborate with the UAE’s Ministry of Infrastructure and Energy to establish the Maritime Decarbonization Centre,” said Knut arbeck-Nilssen, CEO of DNV Maritime. “Initiatives like the Centre are essential as we look to accelerate towards a decarbonised future. We need to build via cooperation, foster innovation, and scale local strengths into global leadership. With its strategic location and strong support from industry leaders, the Centre is poised to become a hub for maritime decarbonisation efforts.” A maritime hub for business excellence and innovation This initiative aligns perfectly with the UAE’s preparations for hosting COP28, where the nation will showcase its commitment to sustainability and energy transition on a global stage. The UAE Maritime Decarbonisation Centre will play a crucial role in strengthening the country’s position as a hub for sustainable innovation and global collaboration during COP28. Hessa Al Malek, Advisor to the Minister for Maritime Transport Affairs, the UAE Ministry of Energy and Infrastructure, said, “At the Ministry of Energy and Infrastructure, we seek to unify the maritime sector to build the UAE Maritime Cluster, and turn it into a powerhouse that enhances business growth opportunities and creates new capabilities for companies by bringing them together. Digital technologies are the best way to build this cluster, standardise information related to the maritime sector and develop innovative mechanisms to explore business opportunities that can benefit all stakeholders.” Al Malek added, “This partnership is yet another step to promote innovation in the maritime sector, which has become an international incubator for quality ideas. At the current stage, we focus all our innovations on building a sustainable and environmentally-friendly maritime sector. The UAE Maritime Decarbonisation Centre will serve as a vital hub for research, collaboration, and knowledge transfer in the field of maritime decarbonization. Through strategic partnerships and initiatives, we will focus on developing and implementing sustainable solutions that reduce greenhouse gas emissions and enhance energy efficiency in maritime operations. This Centre aligns with our vision of positioning the UAE as a global leader in the sustainable maritime sector and driving the transition towards a greener future. This partnership is complemented by many other quality projects and initiatives the Ministry of Energy and Infrastructure has already launched. These include the UAE Maritime Cluster initiative and the Maritime Network, which aims to build a global network of professionals and experts to enhance the competitiveness of the UAE’s maritime sector and market it globally, making use of the strong presence of international maritime companies in the UAE.

Source: Emirates News Agency (WAM)

UAE summons the Swedish Chargé D’Affaires to strongly condemn continuation of the Swedish government’s allowance of attacks on copies of Holy Quran

The Ministry of Foreign Affairs has summoned the Chargé D’Affaires at the Embassy of the Kingdom of Sweden to the UAE, and handed her an official note of protest against the repeated attacks and abuses on copies of the Holy Quran committed by extremists in the Kingdom of Sweden.

Moreover, the UAE strongly condemned the decision of the Swedish government to continue to allow such acts to occur. The UAE stressed that Sweden has disregarded its international responsibilities and demonstrated a lack of respect for social values in this regard.

The Ministry emphasized the importance of monitoring hate speech and expressions of racism that negatively impact peace and security. Furthermore, the Ministry expressed its rejection of the use of freedom of expression as justification for such heinous acts.

The Ministry underscored the UAE’s rejection of all practices aimed at undermining security and stability in contravention of human values and principles. The Ministry reaffirmed that hate speech and extremism contradict international efforts to spread the values of tolerance, coexistence and peace between peoples.

Furthermore, the Ministry stressed the need to respect religious symbols and avoid incitement and polarization at a time when the international community needs to work together to reaffirm a commitment to upholding the universal principles of tolerance and peaceful coexistence. The Ministry reemphasized that these principles should be promoted and implemented to achieve stability and sustainable development.

The Ministry underscored that the allowance of such heinous acts contradicts international norms and laws that prevent attacks on religions and religious symbols, and that hate speech and extremism contribute to the outbreak, escalation and recurrence of conflict worldwide.

Source: Ministry of Foreign Affairs and International Cooperation

Muslim World League condemns Quran burning in Stockholm

The Muslim World League condemned Friday the desecration of a copy of the Quran by an extremist in the Swedish capital, Stockholm, “in a disgraceful and provocative repetition of Muslim sentiments.” In a statement by the League’s General Secretariat reported by the Saudi Press Agency (SPA), the League denounced the “absurd and heinous practices that contradict all religious and human norms and principles.”

Source: Jordan News Agency

UK Announces Sanctions Against Companies, Individuals in Africa Linked to Wagner

The UK announced a package of sanctions against companies and individuals in three African countries, due to alleged links to the Russian private military company Wagner.

The UK Foreign Office said, in a statement, that the sanctions target 13 individuals and companies linked to Wagner, which the UK accuses of committing violations in Mali and the Central African Republic and threatening peace and security in Sudan. The statement pointed out that these measures would limit the financial freedom of the company’s representatives in these countries, by preventing UK citizens, companies and banks from dealing with them, in addition to freezing any of their assets that are kept in the UK and banning travel.

Source: Qatar News Agency

Qatar Affirms Developmental, Humanitarian Assistance Efforts Are Rooted in Its 2030 National Vision

The State of affirmed said its developmental and humanitarian assistance efforts are rooted in its 2030 National Vision, noting it aligns with its global peace, security and development commitments, guided by the 2030 Agenda for Sustainable Development principles, recognizing the transformative capabilities inherent in partnerships between the public and private sectors.

This came in a speech by HE Director of the International Cooperation Department at the Ministry of Foreign Affairs Shaheen Ali Al Kaabi, during the discussion of a round table, organized by the State of Qatar on re-defining partnerships between the public and private sectors and the 17th goal of sustainable development in humanitarian response. The roundtable was organized in partnership with the office of HE Special Adviser to the UN Secretary-General Dr. Ahmed Al Muraikhi. It was held on the sidelines of ahigh-level political forum, at the United Nations headquarters in New York, with the participation of Maria Francesca Spatoleso, who is the Assistant UN Secretary-General for Policy Coordination and Inter-Agency Affairs in the Department of Economic and Social Affairs.

Al Kaabi said that Qatar was pleased to host the discussion, adding that it was highly important given its focus on the private sector’s effective participation in responding to emergency. He affirmed that the State of Qatar looks forward to working closely with multilateral agencies and the private sector to face global challenges, enhance international cooperation, respond to humanitarian crises, contribute to achieving the goals of sustainable development by exploiting these partnerships to provide customized aid, financial assistance, and strategic support for emergency programs for the benefit of local communities around the world.

His Excellency pointed out that the State of Qatar has been continuously providing humanitarian and development assistance at the bilateral and multilateral levels, through the United Nations all over the world, especially to developing countries facing crises and natural disasters, explaining that this support comes through the Department of International Development at the Ministry of Foreign Affairs and the Qatar Fund for Development.

In this regard, His Excellency said that the State of Qatar announced in 2018 support for the core resources of the United Nations with a total amount of $500 million, which in itself is clear evidence of its commitment to multilateralism and global solidarity.

The long-standing partnership of the State of Qatar with the United Nations Office for the Coordination of Humanitarian Affairs continues to play a key role in strengthening preparedness and emergency response efforts, finding solutions to humanitarian and relief crises, and making large financial contributions to the humanitarian response funds of the UN Office for the Coordination of Humanitarian Affairs, including the Central Emergency Response Fund and the Yemen Humanitarian Fund. He also pointed out that the State of Qatar has become a member of the Advisory Board of the Central Emergency Response Fund, thanks to the large humanitarian contributions it has made, the total of which has so far reached nearly $20 million.

HE the Director of the International Cooperation Department at the Ministry of Foreign Affairs praised the partnership between the Qatar Fund for Development and the Education Above All Foundation, which aims to improve education for millions of children and youth, and their access to it in countries affected by crises, as more than 70 countries have benefited from the contributions of the State of Qatar, which invested investments exceeding one billion dollars, which included building schools, universities and kindergartens, supporting teachers, publishing curricula materials and books, and providing scholarships to students from developing countries. His Excellency stressed that these efforts were accomplished through strong cooperation with United Nations agencies, national and international organizations, and with private sector entities.

His Excellency referred to the partnership between the government of the State of Qatar, the Qatar Fund for Development, Qatar Charity, the Qatar Red Crescent Society, and the private sector in the State of Qatar, to provide humanitarian relief contributions around the world during the outbreak of the Corona pandemic (COVID-19), as the total governmental and non-governmental financial assistance provided by Qatar exceeded $256 million, distributed to about 88 countries, and assistance was provided to the World Health Organization, UNICEF, and the United Nations High Commissioner for Refugees.

In this context, His Excellency pointed out that the State of Qatar provided $20 million to support the GAVI Vaccine Alliance, and the Qatar Fund for Development committed $10 million to support the pre-market commitment of the COVAX and GAVI facility, which aimed to purchase 1.3 billion vaccine doses by the end of 2021.

His Excellency said that the cooperation of the State of Qatar with Islamic financial institutions to address urgent humanitarian challenges through Islamic financing mechanisms represents an ideal partnership in Qatar’s efforts in the field of humanitarian response. He noted that the State of Qatar has created funds and tools dedicated to mobilizing resources by establishing innovative partnerships with Islamic banks and institutions. He added that the State of Qatar’s unique approach allowed it to direct funds towards critical humanitarian projects, including the construction of health care facilities, schools and infrastructure for displaced communities. His Excellency stressed that this type of partnership not only allows the State of Qatar to mobilize resources, but also provides an alternative path in order to provide effective and socially responsible humanitarian assistance.

He also stressed the importance of taking into account local specificities in public-private partnerships, as empowering and building the capacities of local actors, including governments, civil society, womens groups and private entities, is critical to achieving an effective and context-sensitive humanitarian response. He said that achieving long-term development and resilience lies in the involvement of stakeholders in decision-making and implementation processes.

Source: Qatar News Agency