Global Pulse

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  • London Business School publishes case study on Floward, unveiled at Riyadh launch event

    London Business School publishes case study on Floward, unveiled at Riyadh launch event

    London Business School has formally unveiled an extensive case study examining the remarkable growth trajectory of Floward, the premier online flowers and gifts delivery enterprise operating across the Middle East, North Africa, and the United Kingdom. The official presentation occurred during a prestigious launch event in Riyadh, Saudi Arabia, signaling LBS’s formal establishment within the Kingdom.

    The ceremony, held under the patronage of Dr. Majid bin Abdullah Al-Qasabi, Saudi Arabia’s Minister of Commerce, convened an audience of senior public and private sector leaders, distinguished academic faculty, and LBS alumni. This gathering not only celebrated the school’s expanded presence but also emphasized the strengthening relationship between the institution and Saudi Arabia’s dynamic business and innovation environment.

    A dedicated panel discussion featured Floward’s Chairman and CEO, Abdulaziz B. Al Loughani, and Impact46 CEO Abdulaziz Al-Omran, a key early investor. The session was expertly moderated by Professor Luisa Alemany, the author of the case study. The analysis delves into Floward’s strategic evolution from a regional startup into a rapidly expanding e-commerce leader, scrutinizing its pivotal business decisions, unique operational framework, ingrained culture of innovation, and its transformative impact on the gifting sector throughout its markets.

    In his remarks, Al Loughani, an LBS alumnus, described the recognition as a profoundly proud milestone. He expressed that having the company’s narrative integrated into an academic curriculum by an institution that was instrumental in his own professional development is a testament to Floward’s journey and its unwavering dedication to innovation and growth. He extended gratitude to Professor Alemany and the LBS community, while attributing the success to the entire Floward team.

    Abdulaziz Al-Omran of Impact46 echoed these sentiments, highlighting the critical role of sustained investor-founder collaboration in fostering regional innovation. The publication of this case study is a component of LBS’s wider initiative to bolster business leadership and facilitate knowledge exchange in Saudi Arabia, efforts that are closely aligned with the Kingdom’s ambitious national transformation agenda and its flourishing entrepreneurial ecosystem.

  • Ramaphosa dismisses US move to exclude S. Africa from G20 Summit in Miami

    Ramaphosa dismisses US move to exclude S. Africa from G20 Summit in Miami

    South African President Cyril Ramaphosa has strongly criticized the United States’ decision to exclude South Africa from the 2026 G20 Summit in Miami, labeling the move as ‘regrettable’ and based on ‘misinformation and distortions.’ In a statement issued on Thursday, Ramaphosa emphasized that South Africa is a full and active member of the G20, participating in its own right and not by invitation from any single nation. He reiterated that South Africa joined the G20 through the consensus of all member countries and remains dedicated to fostering multilateral cooperation. Ramaphosa expressed disappointment over the persistent punitive measures by US President Donald Trump, despite ongoing efforts to reset diplomatic relations. The diplomatic tension escalated after Trump accused South Africa of failing to address alleged human rights abuses and mishandling the G20 presidency transition—claims firmly denied by Pretoria. Ramaphosa urged G20 members to uphold the forum’s consensus-based principles, warning that unilateral actions could undermine its credibility and inclusiveness.

  • Abu Dhabi rents surge 14% as demand from expats outpaces housing supply

    Abu Dhabi rents surge 14% as demand from expats outpaces housing supply

    Abu Dhabi’s residential rental market is experiencing significant upward momentum, with apartment rents surging 14.2% year-on-year in Q3 2025 according to Cavendish Maxwell research. This substantial growth stems from a perfect storm of demographic expansion and supply limitations that continue to reshape the capital’s real estate landscape.

    The driving forces behind this rental escalation include robust population growth, particularly among expatriates and the expanding workforce, creating unprecedented demand for housing. Despite new apartment supply entering the market throughout the year, exceptionally high absorption rates have maintained critically low vacancy levels, sustaining upward pressure on rental prices across the emirate.

    Market analysis reveals a distinct performance divergence between property types. Apartments significantly outpaced villas in rental growth, recording a 12.8% annual increase compared to villa rents which grew at a more moderate 5.6% pace. According to Haider Tuaima, Managing Director and Head of Real Estate Research at ValuStrat, rental values demonstrated notable strength with the rental index advancing 2.3% quarterly and 9.3% annually.

    The supply pipeline presents a complex picture. Developers are projected to deliver approximately 8,000 new residential units by end-2025, with an additional 12,800 anticipated in 2026. However, industry experts caution that actual deliveries frequently fall short of initial projections. Andrew Laver, Associate Director at Cavendish Maxwell Abu Dhabi, notes that ‘based on recent handover trends, we could see fewer-than-planned properties being delivered in the next couple of years.’ This staggered delivery approach, historically typical for Abu Dhabi, allows gradual market absorption and prevents sudden stock increases.

    The sales market mirrored rental sector strength, with Q3 2025 recording robust transaction volumes exceeding 6,400 residential unit sales totaling Dh20.5 billion. Off-plan purchases dominated the market, accounting for Dh16.3 billion of total sales value. Market analysts anticipate both sales and rental prices will continue their upward trajectory in the near term, though growth rates will vary across locations as new supply enters specific market segments.

  • Brazilian police crack down on $4.8B tax evasion and money laundering scheme

    Brazilian police crack down on $4.8B tax evasion and money laundering scheme

    SAO PAULO — Brazilian authorities have initiated a sweeping law enforcement operation targeting a sophisticated financial crime network within the nation’s fuel industry. The operation, launched Thursday, represents one of the most significant actions against organized financial crime in recent years.

    Federal police executed 126 search and seizure warrants across five Brazilian states, targeting individuals and corporate entities allegedly involved in a massive tax evasion and money laundering scheme. According to Brazil’s Federal Revenue Service, the organization under investigation constitutes the country’s largest tax debtor, with outstanding liabilities exceeding 26 billion reais (approximately $4.8 billion).

    The criminal network employed a complex web of domestic companies, investment vehicles, and offshore entities to conceal illicit profits. While officials have not publicly identified specific targets, local media reports indicate the investigation centers around Grupo Fit, a prominent fuel refinery conglomerate. The company has not responded to media inquiries regarding the operation.

    Finance Minister Fernando Haddad characterized Thursday’s actions as a continuation of recent efforts to dismantle criminal elements within Brazil’s fuel supply chain. This latest operation follows August revelations where authorities identified 40 fuel-sector investment funds allegedly used to hide assets for members of the Primeiro Comando da Capital (PCC), Brazil’s most powerful organized crime syndicate.

    Investigators have uncovered a sophisticated capital flight pattern involving U.S.-based entities. Federal authorities identified more than 15 offshore operations in the United States that funneled approximately 1 billion reais ($186 million) back to Brazil for purchasing equity stakes and real estate assets.

    Minister Haddad specifically highlighted Delaware as a jurisdiction exploited for money-laundering operations, describing it as ‘a tax haven in the United States’ facilitating ‘a serious international triangulation scheme.’ One recent transaction involved 1.2 billion reais ($223 million) directed to funds in the American state.

    The scheme operated through loans issued to these offshore funds—suspected to be never intended for repayment—with the money subsequently returning to Brazil as ostensibly legitimate investments. Haddad emphasized that ‘the money sent abroad is not legitimate’ and represents illicit funds being laundered through the financial system.

    Amid ongoing tariff negotiations with the United States, Minister Haddad has committed to President Luiz Inácio Lula da Silva to pursue enhanced international cooperation with American authorities against organized crime and money laundering networks.

  • Over 20,000 from home and abroad take part in first sci-tech intl month

    Over 20,000 from home and abroad take part in first sci-tech intl month

    The inaugural International Month of Science and Technology, organized by the China Association for Science and Technology, has successfully concluded, marking a significant milestone in global scientific collaboration. The event, which ran throughout November 2025, brought together over 20,000 experts from more than 110 countries and regions, fostering a platform for cross-border, cross-disciplinary, and cross-cultural exchange. Zhang Bin, Deputy Director of the Department of International Cooperation at the association, emphasized the event’s alignment with the principles of building a shared future for humanity and advancing global initiatives. Over 60 activities were conducted, focusing on strategic emerging industries, advanced manufacturing, digital and information communication technologies, energy and materials, ecology, and space. The event yielded substantial outcomes, including the establishment of specialized organizations, the development of industry standards, and the signing of bilateral cooperation agreements. This landmark initiative has set a new benchmark for international scientific cooperation, paving the way for future advancements in technology and innovation.

  • Nigeria’s president declares emergency and beefs up forces following abductions

    Nigeria’s president declares emergency and beefs up forces following abductions

    LAGOS, Nigeria — Nigerian President Bola Tinubu has declared a nationwide state of emergency in response to escalating security crises marked by mass abductions of schoolchildren and intensified attacks against civilians. The presidential declaration, announced Wednesday, activates constitutional powers reserved for national crises.

    The security overhaul includes plans to recruit 20,000 additional police officers, expanding the national force to 50,000 personnel. Tinubu has further authorized intelligence agencies to deploy specialized forest guards to protect vulnerable remote territories from armed militant groups. “My fellow Nigerians, this is a national emergency, and we are responding by deploying more boots on the ground, especially in security-challenged areas,” Tinubu stated.

    The declaration follows two major abduction incidents last week in Kebbi and Niger states, where gunmen seized approximately 325 students. While Kebbi’s 25 abductees have been rescued and reunited with families, search operations continue for the remaining 300 children taken in Niger state.

    International attention has intensified following former U.S. President Donald Trump’s remarks alleging Christian persecution in Nigeria and threatening potential intervention. These developments have highlighted the critical security situation confronting Africa’s most populous nation.

    Security analysts express skepticism about the effectiveness of Tinubu’s approach. Confidence McHarry, senior security analyst at Lagos-based geopolitical consultancy SBM Intelligence, cautioned that merely increasing security personnel fails to address underlying drivers of conflict. “The ruling elites are yet to awaken to the major reality that the issue has gone beyond throwing bodies at the problem,” McHarry told The Associated Press, emphasizing the need to address government accountability, local grievances, and troop welfare.

    Nigeria faces threats from multiple armed factions including religious extremist organizations like Boko Haram and its splinter group Islamic State West Africa Province, alongside criminal syndicates conducting kidnappings for ransom. This represents the first nationwide security emergency since 2013, when Nigeria concentrated emergency measures in the northeast region to counter emerging terrorist threats.

  • In pics: aftermath of Hong Kong building fire

    In pics: aftermath of Hong Kong building fire

    China Daily Information Co (CDIC) has established stringent copyright protection measures for all content published across its digital platforms. The company’s comprehensive policy explicitly prohibits the unauthorized republication or utilization of any materials, including textual content, photographs, and multimedia information, without obtaining prior written authorization from CDIC.

    The copyright notice emphasizes the company’s exclusive ownership rights over all published content while specifying technical recommendations for optimal user experience. The organization recommends browsers with 1024*768 resolution or higher for optimal website performance.

    CDIC maintains formal publishing credentials, including Multimedia Online Publishing License 0108263 and Registration Number 130349, underscoring its official status as a content provider. The company’s website features dedicated sections for organizational information, advertising opportunities, contact details, and employment services for both domestic and expatriate professionals.

    The copyright framework aligns with standard intellectual property protection practices while ensuring content integrity across China Daily’s digital properties. The policy serves as both a protective measure for the company’s intellectual assets and a clear guideline for appropriate content usage by third parties.

  • ‘Hang in there’: Agonising wait for the missing after Hong Kong blaze

    ‘Hang in there’: Agonising wait for the missing after Hong Kong blaze

    A catastrophic fire that engulfed a public housing complex in Hong Kong’s Tai Po district has resulted in at least 75 fatalities, with approximately 300 residents still unaccounted for, marking the territory’s deadliest blaze in six decades. The tragedy unfolded on Wednesday afternoon when flames rapidly consumed seven of eight tower blocks at Wang Fuk Court, a subsidized housing estate built in 1983.

    The devastation has exposed critical safety failures, including the absence of functioning fire alarms and the use of highly flammable materials during recent renovations. Authorities have arrested three construction executives for “gross negligence” after discovering substandard plastic sheeting and polystyrene insulation on scaffolding that accelerated the fire’s spread.

    Personal accounts reveal harrowing escapes and unbearable losses. Forty-five-year-old Mr. Chung received a final desperate call from his wife trapped in their 23rd-floor apartment with their cat. “Hang in there,” were his last words to her before communications ceased. After 24 hours of waiting, he now believes she perished in the smoke-filled flat.

    The disaster disproportionately affected elderly residents, who comprise nearly 40% of the complex’s population. Many were physically unable to evacuate quickly through thick, toxic smoke that filled corridors within minutes. Seventy-two-year-old Grandma Chan escaped only after receiving an urgent call from her daughter abroad, while 82-year-old Grandma Wu abandoned her mahjong game when alerted by family calls rather than building alarms.

    The Hong Kong government has announced immediate relief measures, including HK$10,000 payments to displaced families and a HK$300 million assistance fund. However, for survivors like Kyle Ho, who invested his family’s savings into their apartment, the future remains uncertain despite gratitude for their survival.

    As firefighters continue their search operations, insisting they “haven’t given up” on finding survivors, the community mourns and demands accountability for one of Hong Kong’s most devastating urban disasters.

  • As ‘Stranger Things’ Season 5 premieres, Netflix crashes

    As ‘Stranger Things’ Season 5 premieres, Netflix crashes

    Netflix’s infrastructure succumbed to overwhelming global demand on Wednesday as millions of subscribers simultaneously attempted to stream the premiere of Stranger Things’ final season. The platform experienced significant service disruptions across the United States and India shortly after the first four episodes launched at 5:00 PM Pacific Time.

    The outage triggered immediate frustration among dedicated fans who had awaited the series’ conclusion for three years, with social media platforms flooding with complaints about inaccessible content. Despite technical preparations that included a 30% server capacity expansion announced by co-creator Ross Duffer hours earlier, the streaming service temporarily failed under unprecedented viewership pressure.

    Netflix’s technical team responded rapidly to the crisis, with company representatives confirming to People magazine that full service restoration occurred within approximately five minutes of the initial crash. The incident highlighted the extraordinary anticipation surrounding the cultural phenomenon’s finale season.

    Season 5 transports viewers to fall 1987, continuing the narrative after a modest time jump from Season 4’s spring 1986 setting. The concluding chapter features the original Hawkins ensemble—including Millie Bobby Brown, Finn Wolfhard, and David Harbour—confronting the supernatural threats of the Upside Down one final time.

    The streaming platform has scheduled the remaining episodes for strategic holiday releases, with episodes 5-7 debuting on Christmas Day and the series finale arriving on New Year’s Eve, ensuring maximum viewer engagement through the season’s conclusion.

  • Putin sees US peace plan as a starting point as he warns Ukraine’s army to withdraw

    Putin sees US peace plan as a starting point as he warns Ukraine’s army to withdraw

    Russian President Vladimir Putin has characterized recent U.S. proposals to resolve the Ukraine conflict as a potential foundation for negotiations, while simultaneously delivering a stark military ultimatum to Ukrainian forces. Speaking to journalists concluding his Central Asian visit to Kyrgyzstan, the Kremlin leader emphasized the critical nature of precise diplomatic language, stating “Every word matters” when discussing potential pathways to peace.

    The Russian president framed former U.S. President Donald Trump’s peace framework not as a finalized agreement but as “a set of issues put forward for discussion.” However, Putin coupled this diplomatic overture with a severe military warning: “If Ukrainian troops withdraw from the territories they occupy, hostilities will cease. If they don’t withdraw, we will achieve this by force.”

    This development occurs amid heightened diplomatic activity, with U.S. special envoy Steve Witkoff scheduled to visit Moscow and U.S. Army Secretary Dan Driscoll potentially traveling to Kyiv. The initial U.S. proposals, which European officials noted appeared disproportionately favorable to Russian interests, underwent revision during Sunday’s Geneva negotiations between American and Ukrainian delegations.

    European leaders, increasingly concerned about regional security stability amid Russian aggression, are actively seeking greater involvement in peace discussions. Analysts interpret Putin’s strategy as attempting to outlast Western commitment to Ukrainian defense efforts, particularly as the Trump administration has previously indicated willingness to abandon negotiation efforts without visible progress.

    Despite Russian claims of battlefield momentum, independent military analysts from the Institute for the Study of War challenge Moscow’s narrative of inevitable victory. Their assessment indicates Russian forces continue struggling to capture strategic cities in Donetsk Oblast, with recent advances representing opportunistic gains rather than sustained operational success.

    The diplomatic landscape further complicated as Russia ordered the closure of Poland’s consulate in Irkutsk, a retaliatory measure following November’s shutdown of Russia’s diplomatic mission in Gdansk. This diplomatic friction unfolds against continued military violence, with overnight drone exchanges resulting in casualties and infrastructure damage across conflict zones.

    Ukraine faces additional challenges beyond battlefield pressures, with President Zelenskyy’s administration confronting significant corruption allegations and substantial financial shortfalls. While the International Monetary Fund approved an $8.1 billion four-year assistance package, this support covers merely a fraction of Ukraine’s projected $153 billion budgetary and military requirements through 2027.