Global Pulse

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  • Dubai: Gold prices inch slightly higher as markets open

    Dubai: Gold prices inch slightly higher as markets open

    Dubai’s gold market opened with modest gains on Wednesday as the precious metal continued its upward trajectory following a weekend of significant price increases. The benchmark 24K gold variety climbed to Dh521.75 per gram, marking a noticeable increase from Tuesday’s closing price of Dh516.75. Other variants including 22K, 21K, 18K, and 14K followed suit, trading at Dh483, Dh463.25, Dh397, and Dh309.75 respectively.

    International spot gold prices demonstrated even stronger momentum, reaching $4,337.96 per ounce by 10 AM local time with a 0.84% gain. Silver similarly outperformed with a substantial 4.46% surge to $66.28 per ounce.

    Market analyst Walid Koudmani of Naga highlighted that gold remains well-positioned for continued support as expectations for additional Federal Reserve rate cuts maintain their strength. “This week’s upcoming economic data could play a pivotal role in shaping future monetary policy expectations,” Koudmani noted. “A combination of stable inflation and weakening labor conditions could raise expectations of lower rates, further bolstering bullion.”

    The analysis comes just days after the US Federal Reserve implemented a 25 basis point rate reduction, bringing the target range to 3.5-3.75%. The central bank’s unexpectedly dovish stance under Chair Jerome Powell has subsequently weakened the US dollar, creating favorable conditions for gold pricing.

    Beyond monetary policy, Koudmani identified multiple factors driving gold’s appeal. Persistent geopolitical tensions spanning Eastern Europe, the Middle East, and emerging frictions in Asia continue to fuel risk aversion and safe-haven demand. Additionally, concerns regarding the Fed’s leadership transition and consistent central bank diversification away from the dollar provide structural support.

    The analyst projected a constructive medium-term outlook for gold, emphasizing that while the path might not be linear, macroeconomic conditions suggest meaningful upward price potential. Consistent ETF inflows and sustained central bank purchasing activity further reinforce the metal’s positive trajectory amid expectations of a lower interest-rate environment and global growth slowdown.

  • Myanmar’s military government charge hundreds with breaking election law as voting date nears

    Myanmar’s military government charge hundreds with breaking election law as voting date nears

    BANGKOK (AP) — Myanmar’s military regime has intensified its pre-election crackdown by charging over 200 individuals with violating the country’s stringent voting legislation ahead of this month’s controversial general election. The charges represent the latest escalation in the junta’s systematic suppression of political dissent surrounding the polls.

    According to state-run Myanma Alinn newspaper, Home Affairs Minister Lt.-Gen. Tun Tun Naung disclosed during a Tuesday meeting that authorities had identified and taken action against 229 people—201 men and 28 women—across 140 separate cases involving alleged attempts to sabotage the electoral process. The report provided minimal details regarding the identities of those charged or their current detention status.

    The controversial election law, enacted in July under military rule, imposes severe penalties including imprisonment terms ranging from three to ten years for activities deemed disruptive to the electoral process. More serious offenses carry potential death sentences, creating an atmosphere of intense political repression.

    Among those publicly identified in state media are prominent activists Tayzar San, Nan Lin, and Htet Myat Aung, who organized a December 3 protest in Mandalay, Myanmar’s second-largest city. The demonstration called for public rejection of the elections, abolition of military conscription laws, and release of political prisoners.

    The General Strike Coordination Body, a leading non-violent opposition organization, reported Wednesday that security forces arrested Htet Myat Aung in Mandalay and allegedly subjected him to abuse during detention. The organization expressed grave concerns about his imminent safety, though The Associated Press could not independently verify his condition.

    Those charged span diverse segments of society, including filmmakers, actors, comedians, children, members of pro-democracy militias (People’s Defense Forces), and representatives from ethnic armed groups engaged in conflict with the military. Most face accusations of destroying campaign materials, threatening election personnel, or posting critical comments on social media platforms. Local media outlets, including Myanmar Now, report that some defendants have received prison sentences extending up to 49 years.

    The military government spokesperson, Maj. Gen. Zaw Min Tun, stated during a Sunday briefing that international approval of the election process remains irrelevant to the junta’s objectives. “Those who want to criticize can do so,” Zaw Min Tun declared. “We will continue to pursue our original objective of returning to a multi-party democratic system.”

    The election faces widespread criticism for excluding Aung San Suu Kyi’s National League for Democracy (NLD), which was forcibly disbanded in 2023 despite achieving landslide victories in both the 2015 and 2020 elections. The military justified its 2021 takeover by alleging electoral irregularities in the 2020 polls, though independent observers found no substantive evidence supporting these claims.

    Suu Kyi, now 80, remains imprisoned under a 27-year sentence following convictions in multiple politically motivated cases. Recent reports expressing concerns about her health were dismissed by military authorities on Tuesday, who maintain she remains in good condition.

  • SMMC: Guaranteeing Madagascar’s supply chain resilience and international compliance

    SMMC: Guaranteeing Madagascar’s supply chain resilience and international compliance

    Under the strategic leadership of Director General Niriko Tsirenge, Madagascar’s Société de Manutention des Marchandises Conventionnelles (SMMC) has undergone a transformative restructuring since 2018 to strengthen national supply chain security. Operating from Toamasina, the nation’s primary maritime gateway, SMMC manages all non-containerized cargo including essential commodities such as cement, rice, industrial supplies, and vehicles.

    The company achieved a significant throughput of approximately 1.12 million tonnes in 2024, reflecting its critical role in maintaining national food security and supporting industrial development. This operational success stems from strengthened partnerships with key national stakeholders and an enhanced reputation for reliability.

    SMMC has embarked on an ambitious governance modernization program, currently in the final stages of ISO 9001 certification. This initiative represents a comprehensive overhaul of operational processes aimed at ensuring quality assurance and full traceability. Digital transformation of workflow systems further enhances operational transparency, creating more secure and predictable port operations.

    Environmental sustainability constitutes a cornerstone of SMMC’s development strategy. The company is engineering an ecological bulk hopper system to minimize dust pollution and reduce material losses, while simultaneously planning solar power installations to decrease its carbon footprint. As an active participant in the Resilience4Ports (R4P) initiative, SMMC aligns its operations with international climate objectives, demonstrating practical commitment to green port development.

    Human capital development receives equal priority, with continuous training programs in international standards including the International Ship and Port Facility Security (ISPS) Code. This investment in workforce excellence ensures safety, quality, and operational flexibility. At the Vohémar facility, where SMMC has assumed port authority responsibilities, these standards are being implemented through infrastructure rehabilitation and security upgrades to achieve full international compliance.

    The company functions as a strategic convener of port ecosystem stakeholders, regularly coordinating with customs authorities, municipal leadership, and commercial users to optimize trade facilitation. This collaborative approach enhances Madagascar’s position as a reliable node within regional supply chains.

    Through technical partnerships with globally recognized port complexes including Morocco’s Tanger Med, SMMC benchmarks international best practices for implementation in Madagascar. The organization remains focused on its fundamental mission: ensuring safe and transparent trade flows while securing the nation’s supply of strategic commodities and building modern, resilient port infrastructure for long-term development.

  • UK gives Abramovich last chance to give Chelsea sale proceeds to victims of Russia’s war in Ukraine

    UK gives Abramovich last chance to give Chelsea sale proceeds to victims of Russia’s war in Ukraine

    The British government has delivered a definitive ultimatum to sanctioned Russian billionaire Roman Abramovich, demanding he finally transfer the £2.5 billion ($3.25 billion) pledged from the sale of Chelsea Football Club to aid victims of Russia’s war in Ukraine. Prime Minister Keir Starmer’s administration declared on Wednesday that it is prepared to initiate legal proceedings to enforce the commitment, which has remained unfulfilled for over two years.

    The saga stems from the 2022 forced sale of the Premier League club after the UK government imposed sanctions on Abramovich due to his established connections with Russian President Vladimir Putin following the full-scale invasion of Ukraine. As a condition of the sale approval, Abramovich publicly vowed to establish a charitable foundation dedicated to supporting those affected by the conflict. Despite the transaction’s completion—which saw ownership transfer to a consortium led by American Todd Boehly and Clearlake Capital—the promised funds remain frozen in a UK bank account, legally still belonging to the oligarch but inaccessible without government approval.

    Prime Minister Starmer emphasized the urgency of the situation, stating, “The clock is ticking on Roman Abramovich to honor the commitment he made when Chelsea FC was sold. This government is prepared to enforce it through the courts, so that every penny reaches those whose lives have been torn apart by Putin’s illegal war.” The government’s statement noted that extensive negotiations to secure a voluntary release of the funds have ultimately failed, leaving litigation as the only remaining option. Abramovich, who acquired Chelsea in 2003 and presided over an era that included two Champions League and five Premier League titles, could not be reached for immediate comment.

  • Alleged Bondi shooter charged with 59 offenses by Australian police

    Alleged Bondi shooter charged with 59 offenses by Australian police

    Australian authorities have formally pressed 59 criminal charges against Naveed Akram, the 24-year-old individual allegedly responsible for the devastating mass shooting at Bondi Beach. The New South Wales police confirmed on Wednesday that Akram faces multiple severe charges, including 15 counts of murder and one count of committing a terrorist act.

    The tragic incident occurred during a Hanukkah celebration on Sunday, targeting the Jewish community’s festival gathering. Akram, who had been in a medically induced coma following the attack, regained consciousness on Tuesday and remains hospitalized under strict police supervision.

    Law enforcement officials continue their comprehensive investigation into the massacre that shocked the nation. The Bondi Beach area, typically known for its vibrant atmosphere and tourist attractions, has transformed into a solemn memorial site with countless floral tributes honoring the victims. Community members and officials have gathered at the beachfront pavilion to pay respects to those who lost their lives in what authorities are treating as a religiously-motivated terrorist attack.

    The extensive list of charges reflects the gravity of the offense and the thoroughness of the ongoing criminal investigation. Australian counterterrorism units are working closely with international partners to establish potential connections and motivations behind the attack. This case represents one of the most significant mass shooting incidents in Australia’s recent history, prompting nationwide discussions about public safety and religious tolerance.

  • India’s Modi visits Ethiopia and calls for renewed bilateral relations

    India’s Modi visits Ethiopia and calls for renewed bilateral relations

    ADDIS ABABA, Ethiopia — Indian Prime Minister Narendra Modi articulated a compelling vision for South-South cooperation during his landmark visit to Ethiopia on Wednesday, marking the first-ever trip by an Indian head of government to the African nation. Addressing Ethiopian parliamentarians in a special session, Modi emphasized the shared destiny of developing nations in reshaping global dynamics.

    “The Global South is actively scripting its own future, with India and Ethiopia united in this transformative vision,” declared the Prime Minister. “We envision a world where emerging nations advance not in opposition to others, but for the benefit of all—a world characterized by equitable development, accessible technology, and respected sovereignty.”

    The bilateral engagement yielded substantial agreements as both nations signed multiple memorandums of understanding covering diverse sectors. The partnership will encompass specialized training for United Nations peacekeeping forces, educational collaboration, and the establishment of a sophisticated data center within Ethiopia’s Ministry of Foreign Affairs infrastructure.

    Significantly, India committed to supporting Ethiopia’s navigation of its substantial international debt burden through the G20 Common Framework mechanism while pledging enhanced cooperation in counterterrorism efforts. The visit was further distinguished by Prime Minister Modi receiving Ethiopia’s highest civilian honor, the “Great Honor Nishan Ethiopia,” presented by Ethiopian Prime Minister Abiy Ahmed—marking the first time a foreign head of state has been accorded this recognition.

    This diplomatic advancement occurs against the backdrop of Ethiopia’s strategic reorientation following its 2022 admission as a full member of the BRICS coalition, which includes nations such as Iran and Egypt. This membership represents part of Ethiopia’s broader strategy to cultivate new international partnerships after emerging from a devastating two-year civil conflict in the Tigray region.

    The timing of strengthened India-Ethiopia relations coincides with deteriorating ties between Ethiopia and the United States. Washington suspended Ethiopia’s preferential trade access to American markets in 2022—a move that significantly impacted the country’s economic trajectory—and recently terminated humanitarian assistance programs following the cancellation of USAID-funded initiatives.

    Beyond governmental cooperation, India maintains substantial people-to-connections with Ethiopia, serving as a preferred destination for medical tourism and higher education among Ethiopians seeking quality services at accessible costs that remain challenging to obtain domestically.

  • Inviso Group: Powering Madagascar’s industrial and agricultural transformation

    Inviso Group: Powering Madagascar’s industrial and agricultural transformation

    ANTANANARIVO, MADAGASCAR – Emerging from humble beginnings as an automotive parts distributor three decades ago, Inviso Group has transformed into Madagascar’s premier industrial conglomerate, driving sustainable development across multiple sectors while maintaining deep local roots. Under the strategic guidance of Co-CEO Yanish Ismael, the company has evolved into a diversified powerhouse spanning plastics manufacturing, agriculture, real estate, construction, energy, automotive distribution, digitalization, and food production.

    The group’s foundational venture, Société Malgache de Transformation des Plastiques (SMTP), played a pivotal role in developing the nation’s water infrastructure through advanced PVC and pipe manufacturing. This initial success created a springboard for diversified expansion, all built within a fully localized ecosystem that now directly employs 3,000 Malagasy workers and indirectly supports approximately 20,000 livelihoods.

    “Our operational philosophy centers on local sourcing with global thinking,” Ismael states. “We maintain an unwavering belief that everything is achievable here in Madagascar.” This conviction manifests in the group’s ambitious new meat export initiative and comprehensive modernization of agricultural value chains through cutting-edge automation and digital technologies.

    Unlike conventional profit-driven enterprises, Inviso prioritizes long-term sustainable value creation over quick returns. The company maintains rigorous equipment upgrades to meet global technological standards while investing substantially in workforce training and skills transfer programs. Quality assurance forms another critical pillar, with all products undergoing stringent in-house testing and compliance with HACCP, Halal, and ISO certifications.

    Sustainability principles permeate Inviso’s operations, evidenced by ongoing solarization projects to reduce environmental impact. The company views certification not merely as regulatory compliance but as a strategic tool for long-term resilience. “True sustainability extends beyond environmental concerns to encompass creating enduring enterprises,” Ismael explains.

    Future ambitions include strengthened partnerships with the UAE and GCC nations, particularly in agri-food exports and industrial collaboration. With an ambitious decade-long growth strategy, Inviso plans to double its workforce while expanding its footprint across the African continent. “Madagascar represents a land of immense opportunity,” Ismael concludes. “Through visionary leadership and strategic partnerships, we can transform these opportunities into lasting prosperity.”

  • Six Canadian MPs denied entry by Israel to occupied West Bank

    Six Canadian MPs denied entry by Israel to occupied West Bank

    Israeli authorities have barred a delegation of six Canadian parliamentarians and 24 accompanying individuals from entering the occupied West Bank through the Allenby border crossing from Jordan. The incident occurred on Tuesday amid escalating diplomatic tensions between the two nations.

    Canada’s Foreign Minister Anita Anand confirmed the denial of entry, stating her ministry had formally expressed Canada’s objections regarding the treatment of its citizens. The delegation was participating in an observational trip sponsored by The Canadian-Muslim Vote (TCMV), a non-profit organization.

    Israeli Ambassador to Canada Iddo Moed justified the decision by citing TCMV’s alleged connections to Islamic Relief Worldwide, an NGO designated by Israel as a terrorist organization. The Israeli military coordination body Cogat stated the group arrived ‘without prior coordination’ and was denied entry ‘for security reasons.’

    Five of the barred MPs belong to the governing Liberal Party—Fares Al Soud, Iqra Khalid, Aslam Rana, Gurbux Saini, and Sameer Zuberi—while the sixth, Jenny Kwan, represents the left-leaning New Democratic Party. Kwan denounced the decision as ‘completely unacceptable’ and refuted suggestions that lawmakers presented any security risk.

    The National Council of Canadian Muslims (NCCM), whose staff members were part of the delegation, characterized the exclusion as ‘deeply troubling.’ CEO Stephen Brown accused Israel of implementing a ‘broader pattern’ of restricting access to independent observers seeking to witness conditions in occupied territories.

    Islamic Relief Canada CEO Tufail Hussain vehemently denied the terrorism allegations, calling them ‘baseless and dangerous’ assertions that endanger humanitarian workers and beneficiaries.

    This incident follows similar entry denials for British parliamentarians in 2024 and occurs against the backdrop of heightened Canada-Israel tensions since Canada’s September recognition of Palestinian statehood alongside other Western nations—a move Israeli Prime Minister Benjamin Netanyahu previously condemned as ‘disgraceful.’

  • Filmmaker Rob Reiner’s son faces murder charges, prosecutors weigh death penalty

    Filmmaker Rob Reiner’s son faces murder charges, prosecutors weigh death penalty

    Los Angeles County prosecutors are pursuing murder charges against Nick Reiner, the 32-year-old son of acclaimed Hollywood director Rob Reiner, following the brutal stabbing deaths of both his parents. The grim discovery was made Sunday afternoon at the family’s Brentwood residence, an affluent neighborhood in west Los Angeles.

    Authorities confirmed that Nick Reiner was apprehended without resistance hours after the bodies of his father, 78-year-old filmmaker Rob Reiner, and mother, 70-year-old photographer Michele Reiner, were found. The case has been transferred to the District Attorney’s Office, with formal charges of first-degree murder expected to be filed imminently.

    District Attorney Nathan Hochman addressed reporters, stating the charges could potentially carry capital punishment, though prosecutors have not yet determined whether to seek the death penalty. ‘Their loss is beyond tragic,’ Hochman remarked. ‘We will commit ourselves to bringing their murderer to justice.’

    While investigators confirmed a knife was used in the killings, they have disclosed neither a potential motive nor whether the murder weapon has been recovered. Preliminary reports from various media outlets indicate Nick Reiner had been seen arguing with his parents Saturday evening at a holiday gathering hosted by comedian Conan O’Brien.

    The defendant has publicly documented his extensive history with substance abuse, including periods of homelessness when refusing treatment. These experiences previously inspired the 2015 film ‘Being Charlie,’ which father and son co-wrote together. Nick Reiner remains in custody without bail pending medical clearance for his arraignment.

    Rob Reiner leaves behind an extraordinary Hollywood legacy spanning decades. He achieved early fame as Mike ‘Meathead’ Stivic on the groundbreaking television series ‘All in the Family’ before transitioning to directing iconic films including ‘This Is Spinal Tap,’ ‘The Princess Bride,’ ‘When Harry Met Sally…’, and ‘A Few Good Men.’ Beyond his cinematic achievements, Reiner was recognized for his political activism and support of Democratic causes.

    Michele Reiner, his wife of 36 years, was an accomplished photographer whose work included the cover image for Donald Trump’s ‘The Art of the Deal.’ The couple married in 1989 after meeting during production of ‘When Harry Met Sally…’

  • Why the world’s most visited museum has reached a breaking point

    Why the world’s most visited museum has reached a breaking point

    PARIS — The Louvre Museum, the world’s most visited cultural institution, faces an unprecedented institutional crisis as a prolonged staff strike reveals deep-seated operational failures compounded by a spectacular $102 million jewel theft. What began as a labor dispute has evolved into a comprehensive examination of the museum’s security protocols, structural integrity, and management competence.

    The current turmoil stems from multiple converging factors: chronic understaffing, deteriorating infrastructure, and security vulnerabilities dramatically exposed by the October daylight robbery of crown jewels. The heist, executed with startling efficiency as thieves escaped with approximately 30 seconds to spare, served as a catalyst for long-simmering staff grievances to erupt into full-scale industrial action.

    French parliamentary investigations revealed cascading security failures: only one of two surveillance cameras functioned properly at the break-in point, security personnel lacked adequate monitoring equipment, and police were initially dispatched to an incorrect location when alarms finally activated. Audits from 2017 and 2019 had previously identified these vulnerabilities, yet recommended corrective measures were never fully implemented.

    The physical plant itself presents additional challenges. Sections of the centuries-old palace have been deemed unsafe and closed to the public, including nine rooms in the Campana Gallery dedicated to ancient Greek ceramics. Technical reports cited ‘particular fragility’ in supporting beams, forcing staff relocations and ongoing closures. Unions point to incidents like November’s water leak that damaged hundreds of historical volumes as evidence of broader institutional neglect.

    Culture Ministry officials have attempted to resolve the standoff by proposing to cancel planned 2026 funding cuts, hire additional security and visitor services staff, and increase wages. However, unions have rejected these measures as insufficient, indicating that trust has deteriorated beyond simple solutions.

    The museum has partially reopened a limited ‘masterpiece route’ allowing access to iconic works like the Mona Lisa and Venus de Milo—a temporary measure that underscores how far normal operations have deteriorated. Pressure now focuses squarely on Louvre President Laurence des Cars, with the ministry appointing Philippe Jost, who oversaw Notre Dame’s restoration, to assist in reorganizing the museum’s operations.

    President Macron’s ‘New Renaissance’ renovation plan, launched in early 2025 to modernize the Louvre and address overcrowding, faces criticism for prioritizing high-profile projects over fundamental infrastructure and security needs. A proposed dedicated room for the Mona Lisa with separate entrance has become symbolic of what staff perceive as misplaced priorities, fearing it may lead to tiered access systems rather than addressing urgent safety concerns.

    Former director Jean-Luc Martinez, who led the institution from 2013 to 2021, recently told senators he believed the museum’s security plan was adequate during his tenure, stopping short of accepting personal responsibility for the documented failures. All four suspected robbers have been apprehended, but the stolen jewels remain missing, with Interpol listing them in its database of stolen art amid concerns they may be dismantled or smuggled internationally.