Global Pulse

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  • UAE to host two-day trilateral peace talks between US, Russia, Ukraine

    UAE to host two-day trilateral peace talks between US, Russia, Ukraine

    The United Arab Emirates is poised to facilitate a critical diplomatic initiative by hosting two-day multilateral peace negotiations among the United States, Russia, and Ukraine. Scheduled for late January 2026, this strategic dialogue represents a significant development in international conflict resolution efforts regarding the ongoing Eastern European tensions.

    According to regional diplomatic sources, the UAE’s selection as neutral territory underscores its growing influence in global affairs and its capacity to mediate between conflicting international powers. The Gulf nation’s established relationships with all involved parties position it uniquely to foster constructive dialogue where previous venues have faced challenges.

    This diplomatic undertaking follows multiple previous attempts to establish sustainable communication channels between the conflicting nations. The extended duration of the talks suggests participants are preparing for substantive discussions beyond preliminary positioning, potentially addressing core security concerns and humanitarian considerations that have previously hindered progress.

    International observers note the timing coincides with increasing global pressure for conflict de-escalation amid evolving geopolitical dynamics. The participation of both US and Russian representatives at the negotiating table, alongside Ukrainian delegates, indicates potential openness to exploring alternative frameworks for stability in the region.

    The international community continues monitoring developments closely, recognizing that successful mediation could establish new precedents for conflict resolution in complex geopolitical environments while potentially reshaping regional power dynamics.

  • EFG Hermes tops LSEG MENA ECM Bookrunner rankings for second consecutive year

    EFG Hermes tops LSEG MENA ECM Bookrunner rankings for second consecutive year

    EFG Hermes, the premier investment banking institution within EFG Holding, has once again clinched the foremost position in London Stock Exchange Group’s (LSEG) MENA equity capital markets (ECM) bookrunner rankings for 2025. This achievement marks the second consecutive year the financial powerhouse has dominated the regional league tables, reinforcing its commanding presence across Middle Eastern and North African capital markets.

    LSEG’s comprehensive assessment methodology evaluates financial institutions based on two critical parameters: total capital proceeds raised throughout the assessment period and the aggregate number of successfully completed transactions. EFG Hermes demonstrated exceptional performance across both metrics during the 2025 review cycle.

    The investment bank’s transaction volume reached unprecedented levels with 12 completed ECM operations—precisely double the deal count of the second-ranked institution. These transactions spanned multiple regional exchanges including Tadawul, Nomu, Abu Dhabi Securities Exchange, Dubai Financial Market, Nasdaq Dubai, Muscat Stock Exchange, Bourse Kuwait, and the Egyptian Exchange.

    Mostafa Gad, Global Head of Investment Banking at EFG Hermes, emphasized that this industry recognition reflects the firm’s expanding regional footprint and enduring client relationships. “Our continued focus remains on executing sophisticated transactions that simultaneously advance client objectives while contributing to the broader development of MENA capital markets,” Gad stated, highlighting the institution’s unique capacity to navigate diverse regulatory environments.

    EFG Hermes established itself as the sole investment bank to execute ECM transactions across five key markets—Saudi Arabia, the UAE, Oman, Kuwait, and Egypt—during the assessment period. Beyond equity markets, the firm advised on 42 regional transactions encompassing 18 ECM deals, 16 debt capital market operations, and 8 mergers and acquisitions.

    The bank’s expertise extended across various ECM structures including initial public offerings, accelerated bookbuilds, and rights issues. Notable 2025 transactions included serving as sole financial advisor for the Jamjoom IPO in Saudi Arabia and joint global coordinator for the ADNOC Gas secondary offering—the largest placement in ADX history.

    Christopher Laing, Head of ECM at EFG Hermes Investment Banking, attributed the firm’s outstanding performance to its comprehensive research coverage and unparalleled access to institutional and family office investors throughout the region. The institution has maintained its position as the top trader on the Dubai Financial Market for eight consecutive years.

    This latest industry recognition solidifies EFG Hermes’ status as the preeminent equity capital markets facilitator in the MENA region amid sustained issuance activity across developing capital markets.

  • Chaos, defeat and repression: How Afcon drama drowned out Morocco’s Gen Z crackdown

    Chaos, defeat and repression: How Afcon drama drowned out Morocco’s Gen Z crackdown

    While Morocco captivated global attention hosting the African Cup of Nations tournament, a potent protest movement dubbed GenZ 212 highlighted the nation’s stark domestic tensions. The demonstrations, which swept across dozens of cities between September and December 2025, were initially sparked by public outrage over the deaths of eight women from botched caesarean sections at a public hospital in Agadir. This tragedy galvanized a youth-led movement demanding urgent reforms to Morocco’s chronically underfunded healthcare and education systems, alongside calls to address systemic corruption and enhance political rights.

    The government response was severe. Security forces shot and killed at least three protesters, while over 2,400 individuals were arrested during the unrest. Hundreds remain in custody, with many reporting brutal beatings and dire detention conditions. Omar, a relative of one detainee who spoke under pseudonym for security reasons, described overcrowded cells designed for ten people holding forty, where diseases spread rapidly.

    The timing of the protests created a striking contrast with Morocco’s ambitious sporting ambitions. As the government prepared to co-host the 2030 World Cup, investing $1.4 billion in new stadiums including plans for the world’s largest arena in Casablanca, protesters adopted a powerful chant: “The stadiums are here, but where are the hospitals?” This slogan encapsulated their critique of the state’s misplaced priorities.

    During the Afcon tournament, authorities implemented overwhelming security measures. Public spaces felt heavily monitored, gatherings were deemed suspicious by default, and political expression became significantly riskier. International attendees encountered stringent checks, including biometric passport registration on an app developed by a relative of the king’s closest aide.

    According to Jonathan Hill, director of the Institute of Middle Eastern Studies at King’s College London, hosting such mega-events forms part of Morocco’s strategy to gain international recognition and demonstrate economic strength. However, GenZ 212 members describe this as more than mere ‘sportswashing’—characterizing it as comprehensive propaganda masking systemic failures.

    Beneath the spectacle of sporting achievement lies a nation of profound inequality. The World Inequality Database indicates Morocco’s top 1 percent earn a similar proportion of national income as the bottom 50 percent. With hundreds still detained and sentences of up to 15 years being handed down for protest-related charges, analysts predict further social unrest is inevitable given the structural limits of Moroccan democracy.

    The movement maintains significant organizational capacity, with over 180,000 users on its Discord server continuing discussions. As one activist noted, the current calm represents not acceptance but ‘enforced calm through violence’—a temporary condition that cannot permanently suppress an educated, connected generation aware of the system’s repressive nature.

  • Award-winning Colibri Views by Major Developments in RAK nearly sold out in record time

    Award-winning Colibri Views by Major Developments in RAK nearly sold out in record time

    Major Developments’ premier residential project, Colibri Views, has achieved near complete sell-out status at unprecedented velocity within Ras Al Khaimah’s rapidly evolving urban core. The twin-tower development reports 100% absorption of studio and one-bedroom configurations, with only a limited inventory of two-bedroom residences and two exclusive penthouses remaining available at RAK Central.

  • US carries out first known strike on alleged drug boat since Maduro’s capture

    US carries out first known strike on alleged drug boat since Maduro’s capture

    In a significant escalation of its counter-narcotics operations, the United States military has confirmed conducting a lethal strike against a suspected drug trafficking vessel in the eastern Pacific Ocean. This operation, executed on Friday, represents the first such action since the high-profile raid that captured Venezuelan President Nicolás Maduro earlier this month.

    According to U.S. Southern Command’s official statement released through social media channels, the targeted boat was actively engaged in narco-trafficking operations. The military operation resulted in two fatalities with one individual surviving the attack. Search and rescue procedures were immediately initiated for the survivor through coordination with the U.S. Coast Guard.

    Accompanying visual evidence depicts a maritime vessel navigating through open waters before being engulfed in explosive flames. This development occurs amid intensified U.S. military focus on intercepting sanctioned oil tankers with connections to Venezuela, following the Trump administration’s audacious operation to apprehend President Maduro and transfer him to New York to face federal drug trafficking charges.

    The previous maritime strikes occurred in late December when military forces targeted five alleged drug-smuggling boats over a 48-hour period, resulting in eight casualties with numerous individuals abandoning vessels. The Coast Guard subsequently suspended its search operations days after these engagements.

    President Donald Trump has consistently defended these military operations, asserting their critical effectiveness in disrupting narcotics transportation routes through Caribbean and eastern Pacific corridors. During recent remarks at the World Economic Forum in Davos, Trump claimed unprecedented success, stating: “We’ve stopped — virtually stopped almost 100% of all drugs coming in by water.”

    Meanwhile, Maduro had previously characterized U.S. military actions as politically motivated attempts to remove him from power, allegations that gained renewed attention following the January 3rd large-scale strike in Caracas that resulted in his capture and extradition to the United States.

  • Israeli soldier’s videos show continued demolitions in Gaza after ceasefire

    Israeli soldier’s videos show continued demolitions in Gaza after ceasefire

    New evidence has emerged through social media posts by an Israeli soldier documenting the continued demolition of Palestinian homes in the Gaza Strip, occurring more than 100 days after the implementation of a ceasefire agreement. Middle East Eye has verified and analyzed three separate videos uploaded in late December by a soldier operating under the private Instagram account name Ariel Ashkenazi.

    One video, dated December 25th, was geolocated to the northern Gaza area of Beit Hanoun, showing extensive demolition operations. Subsequent posts on December 26th and 28th featured additional footage of destruction activities. The videos contained concerning captions, with two using the phrase ‘Aliyah Bet’ – a historical reference to illegal Jewish immigration to Palestine between 1921 and 1948. Another video carried the caption ‘the power of the Spartan,’ evoking imagery of brutal strength and enemy elimination.

    This terminology aligns with Israeli Prime Minister Benjamin Netanyahu’s September statement urging Israel to prepare to become a ‘super Sparta,’ referencing ancient Greek warfare tactics against Persia.

    The documented demolitions have occurred on both sides of the so-called ‘yellow line’ established by Israeli forces following the October ceasefire. This ceasefire was intended to conclude over two years of intense conflict in Gaza that resulted in approximately 71,000 Palestinian fatalities and the destruction of nearly 90% of the territory’s infrastructure.

    Despite the ceasefire agreement, reports indicate Israeli forces have killed at least 477 individuals and wounded more than 1,300 others since its implementation. According to Gaza’s Government Media Office, Israeli forces have committed at least 1,300 ceasefire violations, including approximately 200 incidents involving structural demolitions, 430 cases of gunfire directed at civilians, 66 incursions into residential areas, and more than 600 strikes.

    Throughout the Gaza conflict, Israeli soldiers have extensively recorded themselves engaging in activities that international experts suggest may constitute war crimes. Documented footage shows soldiers celebrating while detonating civilian structures including homes, universities, and mosques. Other videos reveal disturbing conduct including soldiers forcing bound and blindfolded prisoners to deliver humiliating messages, looting money from Palestinian homes, destroying humanitarian aid parcels with military bulldozers, and burning educational facilities while singing inflammatory songs. Additional content shows soldiers posing in women’s underwear taken from Palestinian residences.

  • Is China quietly winning the AI race?

    Is China quietly winning the AI race?

    In a significant shift within the artificial intelligence landscape, major U.S. technology firms are increasingly integrating Chinese-developed AI models into their core operations, challenging the long-standing dominance of American AI laboratories. Pinterest, the visual discovery platform with hundreds of millions of monthly users, has emerged as a prominent case study in this technological transformation.

    The San Francisco-based company has been experimenting with Chinese AI architectures, including the DeepSeek R-1 model launched in January 2025, to enhance its recommendation systems and shopping assistant capabilities. According to CEO Bill Ready, this strategic implementation has effectively transformed Pinterest into an AI-powered commerce platform, with the ‘DeepSeek moment’ representing a pivotal breakthrough in open-source AI development.

    Technical leadership at Pinterest reveals compelling advantages driving this adoption. Chief Technology Officer Matt Madrigal reported that open-source techniques employed from Chinese models demonstrate 30% greater accuracy than leading off-the-shelf alternatives while reducing operational costs by up to ninety percent compared to proprietary systems from U.S. developers like OpenAI.

    This trend extends well beyond Pinterest’s operations. Across the Fortune 500 landscape, Chinese AI models are gaining substantial traction. Airbnb has incorporated Alibaba’s Qwen model extensively to power its AI customer service infrastructure, with CEO Brian Chesky citing superior performance, speed, and cost-effectiveness as decisive factors.

    Hugging Face, the premier platform for AI model distribution, provides further evidence of this market shift. Product lead Jeff Boudier noted that Chinese models consistently dominate the platform’s trending rankings, with some weeks featuring four out of the top five training models originating from Chinese laboratories. In September, Alibaba’s Qwen surpassed Meta’s Llama to become the most downloaded large language model family on the platform.

    The competitive landscape has evolved rapidly since Meta’s release of its open-source Llama models in 2023, which initially established industry standards for bespoke applications. However, the underwhelming reception of Llama 4 and Meta’s subsequent collaboration with Alibaba, Google, and OpenAI for training new models signals a fundamental restructuring of AI development alliances.

    According to a recent Stanford University analysis, Chinese AI models have not only caught up but potentially surpassed their global counterparts in both capability metrics and user adoption rates. This development coincides with increased pressure on U.S. firms like OpenAI to prioritize revenue generation and profitability, potentially creating strategic openings for Chinese technological advancement in the open-source domain.

    Former UK deputy prime minister Sir Nick Clegg observed the paradoxical nature of this competition, noting that China appears to be democratizing AI technology more effectively than Western democracies despite their different governance models. The Stanford report further suggests that substantial government support has contributed significantly to China’s open-source AI achievements, while U.S. companies face increasing commercial pressures that may influence their development priorities.

  • Watch: Empty shelves and road preparations as US readies for winter storm

    Watch: Empty shelves and road preparations as US readies for winter storm

    A formidable winter storm system is poised to unleash severe weather across vast portions of the United States, prompting urgent preparatory actions from millions of citizens. Meteorological authorities have issued grave warnings, indicating that over 160 million individuals, nearly half the nation’s population, are projected to confront perilous conditions characterized by heavy snowfall, significant ice accumulation from freezing rain, and dangerously low temperatures.

    In anticipation of the severe weather event, residents in affected regions have engaged in widespread stockpiling of essential supplies. Reports from numerous grocery stores depict a familiar scene of crisis preparation, with shelves once holding bread, milk, eggs, and bottled water now largely barren. This consumer behavior reflects deeply ingrained protocols for winter emergency readiness across many American communities.

    Simultaneously, transportation departments and municipal workers are executing comprehensive road treatment strategies. Crews are preemptively applying brine and salt mixtures to major highways and secondary roads in an effort to prevent ice bonding to pavement surfaces. Officials are strongly advising against all non-essential travel once the storm commences, warning that whiteout conditions and treacherous ice may render roads impassable.

    The impending storm’s significant magnitude underscores the substantial challenges that extreme weather events pose to public infrastructure and safety systems. The coordinated response between government agencies and civilian preparation highlights the ongoing adaptation to increasingly volatile winter weather patterns affecting populated areas.

  • UAE offers condolences to Tunisia over victims of deadly floods

    UAE offers condolences to Tunisia over victims of deadly floods

    The United Arab Emirates has formally expressed its profound condolences and solidarity with the Republic of Tunisia in the wake of devastating floods that have claimed multiple lives and caused extensive damage. Through an official statement released by its Ministry of Foreign Affairs, the UAE conveyed its deepest sympathies to the families of the victims and the Tunisian people, alongside wishes for a swift recovery to all those injured.

    The catastrophe unfolded as torrential rains, described by the National Institute of Meteorology as the heaviest in over seven decades, battered the North African nation beginning Monday night. The relentless downpour continued through Tuesday night, with residual showers persisting into Wednesday, leading to widespread school and business closures and severe disruptions to transportation networks.

    Official reports confirm a death toll of at least five individuals. Four fatalities occurred in the town of Moknine within the Monastir governorate, while a fifth was reported in Nabeul. Furthermore, local media outlets have reported four fishermen as missing after one colleague was successfully rescued in the coastal town of Teboulba, south of Monastir.

    Tunisian emergency services have been engaged in a large-scale response effort. The civil defence agency reported that its teams have rescued approximately 350 people trapped by rapidly rising floodwaters since the onset of the crisis. Khalil Mechri, a spokesman for the civil defence, indicated that while the intensity of the severe weather has subsided, a high state of alert remains in effect across affected regions.

    Visual evidence from AFP and social media platforms depicts scenes of severe inundation, with homes and roadways submerged and vehicles left stranded. The regions of Monastir, Nabeul, and greater Tunis were among the hardest hit. President Kais Saied visited several affected areas, including Moknine and Teboulba, to assess the damage firsthand.

    This extreme weather event highlights critical vulnerabilities in Tunisia’s urban infrastructure. Drainage and stormwater systems, often antiquated and poorly maintained, are frequently overwhelmed during heavy rainfall, a situation exacerbated by waste clogging the networks. Furthermore, rapid urbanization has reduced ground permeability, increasing surface runoff and flood risk.

    The devastating floods present a stark paradox for Tunisia, a country that has been grappling with a severe seven-year drought intensified by climate change, which has led to a critical decline in national water reserves. Neighbouring Algeria has also experienced significant rainfall and flooding, with authorities there reporting two fatalities in western regions.

  • Spain refuses to join Trump’s Gaza ‘Board of Peace’ over breach of international law

    Spain refuses to join Trump’s Gaza ‘Board of Peace’ over breach of international law

    In a significant diplomatic development, Spanish Prime Minister Pedro Sánchez has formally declined an invitation for his country to participate in former U.S. President Donald Trump’s proposed ‘Board of Peace’ initiative. The decision, announced during a speech at EU headquarters in Brussels, reflects growing international concern about the board’s structure and objectives.

    Prime Minister Sánchez emphasized that Palestinian representation remains fundamental to any legitimate peace process, stating unequivocally that ‘The future of Palestine as a whole should be settled by Palestinians.’ This position aligns Spain with several key U.S. allies including the United Kingdom and France, all of which have expressed reservations about joining the controversial board in its current form.

    The initiative faced additional turbulence as Trump unexpectedly rescinded Canada’s invitation through a Truth Social post directed at Prime Minister Mark Carney. The public disinvitation came shortly after Carney delivered critical remarks about U.S. policy and hegemony at the World Economic Forum in Davos, though the Trump administration provided no explicit justification for the reversal.

    Conceived as an international organization aiming to ‘promote stability, restore dependable and lawful governance, and secure enduring peace in conflict-affected regions,’ the Board of Peace has drawn scrutiny for its vague mandate and potential to undermine existing international institutions. Critics argue the board’s composition—which includes Trump’s son-in-law Jared Kushner, former UK Prime Minister Tony Blair, and U.S. Secretary of State Marco Rubio—lacks appropriate Palestinian representation despite its stated focus on Gaza reconstruction.

    Notably, while the board proposes appointing a 15-member Palestinian technocratic committee to oversee Gaza’s transition, no Palestinians currently sit on its executive board. This omission has raised questions about the initiative’s commitment to genuine Palestinian self-determination.

    Despite European hesitancy, several Middle Eastern nations including Saudi Arabia, the United Arab Emirates, Qatar, Egypt, Turkey, and Jordan have reportedly agreed to participate alongside Israel. The development unfolds against the tragic backdrop of more than 71,500 Palestinian casualties in Gaza since October 2023, highlighting the urgent need for credible peace mechanisms that command broad international legitimacy.