Bitcoin fell to a 3-1/2-month low on Friday, dragged by uncertainty about US President Donald Trump’s tariff plans and crypto policy and flagging investor confidence after a $1.5bn hack in rival coin ether.

Bitcoin, the world’s largest cryptocurrency by market value, was last down more than 5 per cent on the day at $79,666, trading below $80,000 for the first time since November 11.

Read-Bitcoin blasts past $106,000 on Trump’s pro-crypto stance

“Bitcoin’s fall below $80k shows that positive sentiments from a crypto-friendly administration and high-profile endorsements have run their course,” said Joshua Chu, Co-Chair of the Hong Kong Web3 Association.

The world’s largest cryptocurrency has shed a quarter of its market value since mid-December, when it topped $105,000 on optimism that the Trump administration would champion a strategic bitcoin fund and loosen regulation.

Beyond a flurry of appointments of crypto-friendly officials when he took office, there has been little concrete news around that policy for investors.

Read more-Melania Trump launches cryptocurrency meme coin

“Momentum ran out when there was no fresh news to keep driving the bullish narrative,” said Kyle Rodda, senior financial market analyst at Capital.com.

“On top of that, given the move in Mag 7 stocks we’ve seen, which is also a story of momentum slowing and valuations deflating, bitcoin, which still trades as a ‘higher beta tech’ play, is being dragged down by sell-off in Wall Street tech stocks.”

Ether ETH=, the second-largest cryptocurrency by market value, was down nearly 6 per cent at $2,149.38, around its lowest since January 2024.

In addition, investors have been pulling money out of bitcoin-backed exchange-traded funds.

Global investors have been jittery on signs the so-called exceptionalism of the US economy might be fading, while Trump prepares to impose tariffs that have stoked fears of higher global inflation and slower growth.

Trump has indicated he plans to slap a 25 per cent levy on imports from Canada and Mexico from early March, and more tariffs on China. In a sign of unease, safe-haven US Treasury prices have rallied sharply, sending yields to three-month lows.

The crypto world has also been nervous after Dubai-headquartered Bybit, the world’s second-largest exchange after Binance, said on February 21 that hackers had stolen ether worth around $1.5bn.

Bybit caters to more than 60 million users worldwide and offers access to various cryptocurrencies, including bitcoin and ether.

Blockchain research firm Elliptic said the hack was probably the single largest known theft of any kind.

“It’s a combination of macro forces. The Fed only planning one rate cut, more tariffs, uncertainties around geopolitics and war, and the ByBit hack didn’t help confidence either,” said Reuben Conceicao, chief strategy officer at digital wallet firm Metasig. “It is hard for people to be excited and pump BTC when there are bigger issues at play.”

The Dubai Government Human Resources Department (DGHR) has approved flexible working hours and remote work policy for Dubai government employees during the Holy Month of Ramadan 1446 Hijri (2025).

According to a Wam report, the approval follows the directives of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence and Chairman of The Executive Council of Dubai.

Read-Ramadan 2025: UAE council calls residents for sighting crescent moon

The policy grants Dubai government employees up to three flexible working hours, provided they complete 5.5 hours from Monday to Thursday and three hours on Friday.

The employees are also permitted to work remotely for up to two days a week, depending on the job requirements, work conditions, and the nature of their responsibilities.

However, this particular policy mandates that employees in question should coordinate with their direct managers to ensure that operations would be carried out smoothly and maintain productivity, ensuring absolutely no disruption to the daily tasks that are to be performed in the interest of public service.

This particular policy aligns with the leadership’s announcement of 2025 as the “Year of Community” and reflects Dubai Government’s commitment to fostering an optimal work environment while promoting community values.

This particular initiative is part of Dubai’s ongoing commitment to creating the best possible work environment for government employees, enhancing their comfort, and motivating them to increase productivity.

Additionally, it also encourages the private sector entities to adopt similar measures during Ramadan that are tailored to the specific needs of businesses and ensure the seamless continuity of their operations.

Students in public schools across Abu Dhabi will transition to remote learning on Fridays during the holy month of Ramadan.

As reported by WAM, this move is part of the ‘Ramadan with Family’ initiative, which focuses on engaging students in activities that foster family connections, instil the core values of Ramadan, and enhance key skills.

How will the initiative benefit students?

This initiative enables students to participate in activities at home alongside their families, nurturing a supportive environment filled with the spirit of Ramadan.

Read- Ramadan 2025: UAE announces working hours for private sector

The Ministry clarified that the initiative, set to begin on the first Friday of Ramadan, applies to all students, with the exception of those scheduled for exams on Fridays. These exams will be held in person as per their approved timetables.

However, parents who prefer their children to attend school on Fridays will have the option to do so, provided they manage transportation to and from school. The teaching staff will supervise students and ensure the continuity of their regular school schedule.

How will the initiative impact teachers?

Although the initiative primarily concerns students, teachers and the teaching staff will continue to follow their usual schedules during Ramadan.

How is the Ministry supporting this transition to remote learning on Fridays?

The Ministry has also prepared a detailed guidance manual for students and parents who choose to opt for remote learning on Fridays. This manual is designed to facilitate a seamless transition to online education.

The guide offers clear instructions on how students can make the most of Fridays during Ramadan, aligning with the month’s values. It also includes curriculum-based cultural and religious activities to foster both educational and moral growth.

This initiative reflects the UAE leadership’s vision of cultivating an inspiring family and community environment during Ramadan. It aims to strengthen family bonds, promote social harmony, and allow individuals to fully embrace the spiritually enriching atmosphere of the holy month.

Ravi Ravichandran, president of Ford Middle East, discusses the company’s latest milestone in the region — a new, cutting-edge Parts Distribution Center (PDC) in Dubai South. This 41,792-square-metre facility is set to transform Ford’s operations by significantly enhancing parts availability, reducing delivery times, and elevating customer service.

With a focus on sustainable mobility and innovation, Ravichandran also shares Ford’s growth plans for the region, its expanding electric vehicle portfolio and the company’s role in the region’s evolving automotive landscape.

Ford recently inaugurated a new PDC in Dubai South. Can you share the strategic significance of this new facility for Ford’s operations in the Middle East, and how will it improve parts availability and customer service in the region?

We are incredibly proud of this major milestone, which is a testament to Ford’s significant investments in the Middle East. since 2011, we’ve nearly doubled our parts distribution footprint, underscoring our commitment to the region, our customers in the Middle East and Sub-Saharan Africa, and of course, our distributor partners.

The new, state-of-the-art 41,792-square-metre facility is designed to significantly improve parts availability, optimise inventory management, and expedite delivery times. By consolidating our operations into a single facility, we streamline processes, enhance service efficiency and accuracy, and increase our capacity.

These improvements are expected to provide enhanced service levels and reduced wait times, thereby elevating customer satisfaction and building greater trust in our brands and our distributors.

Why is the Middle East, and specifically the UAE, such a critical market for Ford? What makes the region a key focus for your company’s expansion and long-term growth plans?

The Middle East – and the UAE in particular – is a vital growth market for Ford. The region’s strategic importance is bolstered by the visionary leadership of the UAE, as embodied in the UAE Vision 2031, which emphasises sustainable economic diversification and future-focused development. This vision aligns perfectly with Ford’s commitment to innovation and sustainable mobility solutions.

Similarly, Saudi Arabia’s transformative Saudi Vision 2030 presents remarkable opportunities for growth and modernisation, making it an exciting market for companies like Ford. We are deeply committed to supporting both nations and their ambitious futures.

Our success in the Middle East is built on strong, long-standing partnerships with established and respected local distributors such as Al Tayer Motors, Al Jazirah Vehicles Agencies, Mohammed Yousuf Naghi, and Ford Alghanim. These family-run businesses possess a deep understanding of the market and a strong commitment to customer satisfaction, which are invaluable assets. Their expertise, combined with Ford’s global reach and innovative products, creates a powerful synergy that benefits customers across the region.

With a rich history of over 40 years in the Middle East, we look forward to continuing to build on this legacy of success, working in partnership with the governments and people of this vibrant region.

Ford’s new Parts Distribution Center (PDC) is designed to streamline parts supply and logistics. How will this facility help Ford better serve its customers across the Middle East, particularly in terms of reducing lead times and improving after-sales services?

The PDC leverages streamlined processes, advanced technology, and a strategic location to significantly enhance customer service across the Middle East. The facility is designed to ensure faster delivery times with a maximum of 24 hours required from the moment an emergency part request is made until it is located, packaged and invoiced. This rapid response is made possible by the 20 dedicated container docks, which allow for simultaneous operations, and significantly expedite order processing, ultimately leading to faster delivery times for our customers.
The new PDC represents a significant upgrade over its predecessor, offering a 20 per cent increase in capacity. This expansion allows us to store approximately 100,000 parts, ensuring we are well-equipped to meet the demands of our customers.

Additionally, the facility employs industry-first drone technology for depot safety management, which improves site safety, security, and stock accuracy through aerial monitoring and inventory management.

These advancements make the PDC future-ready, and capable of delivering around one million pieces to customers across the region each month. This capability ensures that we can provide efficient and reliable service, meeting the needs of our customers with improved parts availability and enhanced after-sales support.

How does Ford plan to meet the growing demand for both high-performance and environmentally friendly vehicles in this region?

We’re committed to delivering products and services that align with the evolving needs of customers across the Middle East, and the UAE is no exception. The demand for vehicles that balance innovation and eco-friendliness is increasing, and we are prepared to meet this demand with a diverse portfolio of 15 nameplates from both Ford and Lincoln, offering a wide range of choices to suit various preferences and needs.

To cater to the UAE market, we’re introducing a range of models that resonate with the region’s desire for sustainable performance and luxury. The Ford Territory Hybrid combines popular SUV attributes with a fuel-efficient hybrid powertrain appealing to those seeking sustainable performance.

For enthusiasts of exhilarating, zero-emission driving, the all-electric Mustang Mach-E offers iconic Mustang muscle with instant torque and breathtaking acceleration. These models, alongside the F-150 Hybrid, Taurus Hybrid, and Lincoln Nautilus Hybrid, demonstrate our commitment to offering a diverse electrified portfolio.

Furthermore, the upcoming launch of Ford Connected Services this year will enhance the ownership experience by connecting drivers to their vehicles like never before, offering increased convenience and personalisation.

What is Ford’s EV strategy for the Middle East, including new model introductions, and how does Ford view the region’s evolving EV landscape, considering both challenges and opportunities?

Ford is incredibly optimistic about the future of EVs in the Middle East. We recognise the growing consumer interest in EVs, coupled with supportive government policies and increasing investment in charging infrastructure, as key drivers propelling this momentum.

Our strategy involves launching a new portfolio of New Energy Vehicles in the region, underscoring our commitment to providing customers with a wide range of choices for sustainable mobility. We believe a greater adoption of EVs presents significant opportunities for economic growth, job creation, and a cleaner environment.

While challenges such as charging infrastructure development and consumer education remain, we are confident that through collaboration and innovation, the Middle East region can successfully navigate this shift towards a more sustainable automotive future.

Our efforts aim to align with these opportunities, ensuring that Ford remains at the forefront of the evolving EV landscape in the region.

How is Ford leveraging advanced technologies such as connectivity, autonomous driving, and smart features to enhance the driving experience for customers in the Middle East?

At Ford, we are always exploring new ways to elevate the driving experience for our customers, both in the Middle East and globally. This year, we are excited to introduce FordPass, our mobility app with Connected Services, to the Middle East, starting with the UAE, followed by Saudi Arabia. This technology enables drivers to remotely control various vehicle functions, access vehicle health reports, and even locate their parked car, significantly enhancing convenience and connectivity.

Our commitment to the Middle East extends beyond simply introducing global technologies. We recognise the unique driving conditions in the region, such as extreme temperatures, challenging terrains, and specific traffic patterns and customer needs.

Our dedicated engineering team based in Dubai plays a crucial role in adapting and testing our vehicles. They conduct rigorous and comprehensive local testing programs to push our vehicles to their limits in real-world Middle Eastern environments. This ensures that features like climate control, engine performance, and driver-assist technologies are optimised for the specific demands of this market.

By combining local expertise with our global technological advancements, we deliver a driving experience that is not only innovative and connected but also perfectly tailored to the needs of our customers.

What are Ford’s key strategic priorities in the Middle East?

The previous was an exceptional one for Ford in the Middle East, with sales doubling since 2022, driven by strong market share gains in key countries such as Saudi Arabia, UAE, Kuwait, Qatar, and Bahrain. As we look toward 2025 and beyond, our key strategic priorities include expanding our vehicle lineup and services to meet the evolving preferences of our customers in the region.

We are committed to introducing exciting new vehicles such as our first all-electric model, the Mustang Mach-E, alongside the launching of FordPass, to enhance the customer experience and broaden our customer base. These initiatives aim to elevate the service experience and provide customers with the innovative and sustainable mobility solutions they desire.

The new PDC will play a critical role in supporting our regional growth and enhancing the aftersales experience for our customers. By improving parts availability, optimising inventory management, and expediting delivery times, the PDC ensures that our customers receive exceptional service and support, reinforcing our commitment to delivering excellence in the Middle East.

As Dubai welcomes Great List, an international city guide catering to high-quality dining experiences, Gulf Business sat down with its founder, Alexander Sysoev, to explore its unique offering.

Dubai is a hub for businesspeople who value exceptional dining, whether for meetings, networking, or leisure. How does Great List cater to this audience, and what sets it apart from other dining guides?

The primary purpose of Great List is to highlight venues where food, design, atmosphere, and service all meet the readers’ highest standards. Our team of experts dedicates their time to conducting multiple anonymous restaurant visits, typically between three to four times, to thoroughly review the customer experience and ensure a comprehensive evaluation. If at any point a restaurant fails to meet our carefully listed criteria, the venue does not make it onto Great List’s website.

We also offer tailored categories to suit various occasions, whether you’re meeting colleagues at a café, celebrating a deal at a smart casual venue, or hosting a potential business meeting at one of our recommended spots. Our features showcase only the finest establishments.

Can you name a few F&B places featured on Great List that will excite international visitors or impress Dubai’s seasoned food lovers?

Here’s a personal selection from the list, offering a great variety across different categories:

Fine Dining: The newly opened FZN by Björn Frantzén, Row on 45, the omakase menu at Takahisa, and the latest tasting menu at Trèsind Studio.

Smart Casual: Highlighting homegrown brands such as Adaline for its fantastic supper club, Bungalo 34 for its vibrant beachside experience, Mimi Kakushi for its unique atmosphere and bar, and Jun’s with its complex, multi-layered flavours.

City Café: Sufret Maryam and Em Sherif for their classic Levantine cuisine, Tribal for its organic ingredients, The Grey—where there’s always a queue outside, and Brix Café, which recently represented the UAE in Davos.

Do your recommendations cover the entire UAE, or are you initially focusing on Dubai?

At present, we are focused on Dubai, but we are actively exploring expansion opportunities in Abu Dhabi. Additionally, we have recently launched a guide for Doha (Qatar) and operate in six major cities across Russia.

Does Great List provide insights beyond just where to eat—such as the best dishes to order, exclusive chef insights, or other recommendations? (OR: Many business travellers and executives seek seamless, high-quality dining experiences. What features do you offer to assist them?)

When the concept of Great List was first developed, a strong focus was placed on incorporating unique elements to make it both personal and insightful. For example, the “Chef Recommends” section was introduced to highlight the personal recommendations of chefs, featuring four to five signature dishes from each venue. Additionally, exclusive video content with chefs is shared on Instagram (@greatlistguide) to further engage the audience.

Recognising the importance of those working behind the scenes, nearly every restaurant profile includes details about the restaurateur and chef, offering insights into their background and adding a personal touch to the platform.

Another key aspect was ensuring diners feel well-prepared for their experience. This led to the introduction of a dedicated “Dress Code” section, along with other helpful features such as recommendations on the best tables to book and curated playlists from the restaurants.

Are there any upcoming developments for Great List, such as expansion into other Middle Eastern cities or new features for Dubai users?

Looking ahead, we plan to expand Great List to more countries in the region, as well as launch new editions in Bangkok, Singapore, and Hong Kong. Additionally, we are receiving growing interest from CIS countries.

We will also be hosting culinary events featuring top chefs from the cities included in our guide. For example, this summer, we plan to bring chefs from Dubai and Doha to Moscow, while in the autumn, we aim to roll out even more extensive events showcasing top chefs in every country where the guide is available.

Looking further ahead to 2026, we have the vision to create the Great List Club—a combination of a concierge service and a premium privilege programme.