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That renders as arabic .اتصالات wich basically means ".telecommunication".

It's Punycode. Basically non-ascii characters are removed and the numbers/letters at the end encode what they were and what position they were in.

This was part of the panic of similar looking Unicode characters being used in phishing attacks.

Correct, it’s an encoding for characters from different alphabets https://en.m.wikipedia.org/wiki/Internationalized_domain_nam...

wallmart got 一号店

wonder how much 八号店 is going for