Global Pulse

分类： business

  • YRD demonstration zone seeks to advance concerted institutional reform and innovation

    YRD demonstration zone seeks to advance concerted institutional reform and innovation

    The Yangtze River Delta Ecological Green Integration Demonstration Zone is poised to intensify its institutional reform agenda throughout China’s 15th Five-Year Plan period (2026-2030), according to official statements from a Thursday government press conference. This strategic initiative aims to foster cross-regional collaboration through innovative policy frameworks and sustainable development practices.

    Gu Jun, Director of Shanghai Municipal Development and Reform Commission and head of the zone’s executive committee, outlined the comprehensive roadmap emphasizing low-carbon transformation of traditional industries. The strategy includes establishing green industrial clusters and implementing carbon emission budgeting systems across key sectors. The zone will prioritize substantial development in next-generation information technology and green新材料 while actively planning for artificial intelligence and future energy advancements.

    A significant milestone was achieved on January 23 with official approval of a high-tech industrial development area within the demonstration zone. This designated area will concentrate on three strategic emerging industries: digital technologies, intelligent manufacturing, and green新材料, featuring corporate headquarters and green sci-tech innovation services.

    Major infrastructure projects are scheduled for deployment during the 15th Five-Year Plan period to support industrial transformation. These include Alibaba’s Yangtze River Delta intelligent computing base, China Mobile’s 5G data center for the region, and China Telecom’s computing center in Wujiang district.

    Established in 2019 across Qingpu district (Shanghai), Wujiang district (Suzhou, Jiangsu), and Jiashan county (Zhejiang), the demonstration zone has demonstrated remarkable economic performance. During the 14th Five-Year Plan period (2021-2025), the zone achieved an annual nominal GDP growth rate of 7.3%, reaching 571.6 billion yuan ($82.3 billion) in 2025.

    The zone’s innovation ecosystem has yielded significant results, with 161 institutional innovation measures developed over five years, including 61 replicated nationwide. In 2025 alone, nine new institutional innovations were released for national adoption while 15 innovative measures were promoted across the Yangtze River Delta region.

    High-tech enterprises have multiplied dramatically, growing to 3,713 by end-2025—a 2.4-fold increase since the zone’s inception. Cross-regional integration has deepened substantially, with over half of service contracts at Xiangfu Laboratory’s Jiashan facilities serving projects in Shanghai and Jiangsu.

    Complementing these efforts, a dedicated investment fund launched in October 2025 with an initial capitalization of 500 million yuan. According to Qu Wei, Deputy Head of Shanghai Municipal Commission of Science and Technology, this fund specifically targets green-low-carbon development and technological innovation projects.

  • AES Visionary Entrepreneurs’ Forum Season 2 to inspire UAE’s businessmen

    AES Visionary Entrepreneurs’ Forum Season 2 to inspire UAE’s businessmen

    The UAE’s business community is preparing for the highly anticipated AES Visionary Entrepreneurs’ Forum Season 2, scheduled for February 6, 2026, at the Khaleej Times headquarters in Dubai. This exclusive gathering will unite entrepreneurs, industry leaders, and innovative changemakers from across the Emirates for a morning of strategic networking and knowledge sharing from 10:00 AM to 12:00 PM.

    Organized by AES Edu Marketing & Events Network with Khaleej Times as exclusive media partner, the event underscores a shared commitment to strengthening the nation’s entrepreneurial infrastructure through meaningful collaboration and story amplification. The forum’s carefully designed program features curated panel discussions, recognition ceremonies, and networking sessions specifically tailored for AES community members.

    Central to the event’s agenda is the celebration of entrepreneurial success stories, leadership insights, and the growing importance of community-driven business models in today’s dynamic economic environment. The forum aims to transcend conventional business networking by fostering genuine connections that extend beyond transactional relationships.

    Leading this initiative is Ayesha Shaik, founder of AES Edu Marketing Events Networks FZE, recognized as one of the UAE’s most influential voices in education and entrepreneurship. As a serial entrepreneur, educator, and podcaster, Shaik conceived the platform to honor authentic business journeys while empowering emerging leaders.

    ‘Our vision centers on creating inclusive, value-driven environments where entrepreneurs can learn, grow, and collaborate with purpose,’ Shaik explained regarding the forum’s underlying philosophy. The AES network continues to focus on building supportive ecosystems that facilitate meaningful professional development and strategic partnership opportunities within the UAE’s vibrant business landscape.

  • Who is Kevin Warsh, Trump’s pick for Fed chair?

    Who is Kevin Warsh, Trump’s pick for Fed chair?

    In a move that could redefine the trajectory of U.S. monetary policy, former President Donald Trump has announced his nomination of Kevin Warsh to chair the Federal Reserve. The decision, revealed via Trump’s Truth Social platform, culminates weeks of intense speculation regarding the future of the current chair, Jerome Powell, who has faced mounting criticism from Trump over interest rate policies.

    Warsh, a 55-year-old economist who previously served as a Federal Reserve governor from 2006 to 2011, brings a complex background to the nomination. Currently a fellow at the conservative Hoover Institution and a board member at UPS, Warsh was previously considered for the Fed leadership during Trump’s first term. His nomination arrives amid extraordinary tension between the Trump administration and the central bank, highlighted by a criminal investigation into Powell’s congressional testimony regarding Fed building renovations.

    The appointment represents a pivotal test for the Federal Reserve’s cherished independence. Trump has repeatedly condemned Powell for what he perceives as insufficiently rapid interest rate cuts, creating unprecedented public friction between the White House and the central bank. Warsh himself has been an outspoken Fed critic, challenging the institution’s data-dependent approach and balance sheet management while recently advocating for what he terms ‘regime change’ at the central bank.

    Despite his historically hawkish reputation favoring higher interest rates to combat inflation, Warsh has recently positioned himself as advocating for lower rates in the near term. He has proposed shrinking the Fed’s balance sheet to reduce short-term rates, though some economists have questioned the theoretical foundation of this approach.

    Warsh’s personal connections to Trump’s circle add another dimension to the nomination. His marriage to Jane Lauder of the Estée Lauder cosmetics dynasty places him within Trump’s influential network, as his billionaire father-in-law Ronald Lauder remains a longstanding Trump donor and political ally.

    The nomination now advances to the Senate for confirmation, where it may encounter significant delays. Republican Senator Thom Tillis, a Banking Committee member, has previously stated he would oppose any Trump nominees until potential legal proceedings against Powell are resolved. Warsh was among four leading candidates for the position, alongside White House economic adviser Kevin Hassett, Fed governor Christopher Waller, and bond expert Rick Rieder.

    Financial markets responded cautiously to the news, with the dollar strengthening slightly and gold prices declining approximately 6% as rumors of the nomination circulated. Analysts described Warsh as a ‘relatively safe choice’ whose historical hawkishness might alleviate concerns about excessive political influence. Investors appeared relieved by the selection of an experienced candidate who commands respect across financial markets, though market participants will scrutinize Warsh’s actions intensely for signs of compromised Fed independence.

  • China aligns green finance with global standards, boosting renewable leadership

    China aligns green finance with global standards, boosting renewable leadership

    China has emerged as the world’s preeminent force in renewable energy generation and clean technology manufacturing through the strategic development of its sustainable finance system, which has progressively integrated international standards while maintaining distinctive national characteristics, according to a landmark United Nations Environment Programme report.

    The comprehensive analysis, drawing from systematic review of over 50 Chinese policy documents, reveals how China has constructed a multilayered green finance framework over the past eighteen years. This system blends historically steeped administrative approaches with innovative experimentation, fundamentally guided by the nation’s ecological civilization philosophy while simultaneously addressing both green transition objectives and broader socioeconomic development goals.

    Zhu Shouqing, China Policy Advisor at the UN Environment Programme Finance Initiative, presented these findings at the 2026 CSO Global Summit, highlighting how China’s financial mechanisms are systematically redirecting the economy from natural resource dependency toward innovation and capital-driven growth models. The report identifies a clear pattern of gradual transition and harmonization in China’s approach to sustainable finance.

    Over two decades, China has methodically embedded sustainability considerations into its national development framework, establishing economy-wide environmental goals while creating enabling conditions for green and low-carbon advancement. These measures demonstrate intentional alignment with global frameworks including the 2015 Paris Agreement, the 2022 Kunming-Montreal Global Biodiversity Framework, and the UN Sustainable Development Goals.

    The evolution of China’s green finance concept reflects this strategic balancing act. Initially focused primarily on environmental protection, the scope has significantly expanded to incorporate climate considerations, environmental factors, and broader social governance elements. This progression represents a shift from domestically-driven policy initiatives toward internationally integrated practices that maintain responsiveness to China’s unique developmental context and energy resource endowment characterized by coal abundance alongside oil and gas deficiencies.

  • Exxon Mobil reports strong quarterly profit on solid production at home and abroad

    Exxon Mobil reports strong quarterly profit on solid production at home and abroad

    ExxonMobil Corporation delivered a robust financial performance for the fourth quarter, surpassing analyst earnings projections despite falling short on revenue expectations. The energy behemoth reported quarterly earnings of $6.5 billion, equating to $1.53 per share. This performance, while strong, represents a decline from the $7.61 billion, or $1.72 per share, recorded in the same period the previous year.

    A critical metric for investors, adjusted earnings excluding one-time events, reached $1.71 per share. This figure exceeded the Wall Street consensus estimate of $1.68 per share, as compiled by Zacks Investment Research. The company maintains a policy of not adjusting its officially reported results for such non-recurring items.

    The quarter was notably driven by a significant uptick in production output. Net production rose to 5 million oil-equivalent barrels per day, a marked increase from 4.7 million in the third quarter. This surge was largely fueled by exceptional results from two key operational regions: the Permian Basin, which yielded 1.8 million oil-equivalent barrels per day, and projects in Guyana, which are rapidly approaching a gross production level of 875,000 barrels per day.

    However, total revenue for the quarter was reported at $82.31 billion, slightly below the analyst forecast of $83.18 billion. This revenue shortfall, combined with external geopolitical factors, seemingly influenced investor sentiment. Consequently, ExxonMobil’s stock experienced a pre-market dip of over 2% on the announcement day.

    The reporting period was also shadowed by geopolitical commentary from the White House. President Donald Trump indicated a predisposition to exclude ExxonMobil from future operations in Venezuela. This statement followed public skepticism from the company’s leadership regarding the viability of oil investments in the country following the political upheaval and ousting of former President Nicolás Maduro. Encouraging U.S. energy firms to invest and aid in rebuilding Venezuela’s crippled oil infrastructure remains a stated priority for the Trump administration.

  • How financial centres can reimagine the global dynamics of finance?

    How financial centres can reimagine the global dynamics of finance?

    Global financial centers are undergoing a fundamental transformation as they confront the limitations of aging infrastructure in an era of digital assets, AI innovation, and continuous operational demands. Historically, these hubs have driven remarkable economic growth—economies with international financial centers have achieved 3.3% annual per capita growth since the 1980s, significantly outpacing the global average of 1.4%. Yet their physical environments have largely remained static while the ecosystem of occupants has dramatically evolved.

    Today’s financial districts host not only traditional institutions but technology firms, data-intensive businesses, regulatory specialists, and AI-driven startups operating beyond cyclical patterns. This new reality demands infrastructure that supports closer coordination between regulators and firms across disciplines including FinTech, RegTech, data analytics, and artificial intelligence.

    The challenge extends beyond physical space to talent retention. Senior professionals and technologists now evaluate locations through a practical lens that considers commute times, housing options, and lifestyle amenities alongside professional networking opportunities. Single-use office zones are increasingly giving way to mixed-use environments that integrate residential space, education, hospitality, and public amenities to support round-the-clock activity.

    Dubai International Financial Centre (DIFC) exemplifies this evolution with its expansion into Zabeel District. Rather than creating a disconnected satellite, DIFC is developing a physically contiguous extension designed as a polycentric hub that maintains governance consistency while absorbing future demand. This strategic approach addresses the critical need for infrastructure, governance, and connectivity to scale together—preserving the proximity between institutions that fosters innovation and institutional trust.

    The Zabeel District represents a structural response to growth challenges, positioning DIFC as a regional driver of global finance’s next era. By implementing an integrated masterplan, the expansion supports emerging areas like advanced technology and AI within the same operational environment that made DIFC successful. This model demonstrates how mature financial centers must adapt to remain functional at scale while preserving their competitive advantages.

    As urban populations are projected to exceed two-thirds of humanity by 2050, the success of financial districts will increasingly depend on their ability to sustain density through thoughtful design of streets, public spaces, and pedestrian connections. For investors, mixed-use developments offer diversified income and long-term growth potential despite the challenges of capital investment, land acquisition, and regulatory navigation.

    The transformation underway at DIFC underscores a broader shift in global finance: competitiveness will be determined by whether districts can maintain operational effectiveness, governance coherence, and talent retention as they grow. Zabeel District represents not merely a real estate project but a strategic blueprint for reimagining finance’s global dynamics through integrated, future-ready design.

  • Europe sees modest growth, but the weaker dollar looms as a threat

    Europe sees modest growth, but the weaker dollar looms as a threat

    FRANKFURT, Germany — The European economy demonstrated unexpected durability during the final quarter of 2025, registering a 0.3% growth rate that matched previous quarter performance despite ongoing trade uncertainties. According to Eurostat’s Friday report, year-over-year expansion reached 1.3%, defying earlier recession predictions that emerged during heightened U.S. trade tensions.

    The moderate growth occurred following the resolution of tariff negotiations between the European Union and the United States, which established a 15% cap on import taxes. While not ideal for commercial operations, this agreement provided businesses with sufficient certainty to proceed with strategic planning. However, this stability was temporarily jeopardized in January when former President Trump threatened additional tariffs regarding Greenland, though these warnings were subsequently retracted.

    Economic activity within the services sector—encompassing diverse industries from personal care to healthcare—showed consistent improvement according to S&P Global’s purchasing managers index. Consumer spending resilience emerged from December’s reduced inflation rate of 1.9% and rising wages, though industrial exports continued facing challenges.

    A new economic challenge has materialized through the euro’s significant appreciation against the U.S. dollar, which has reached its weakest point in 4.5 years. This 14.4% currency shift over twelve months makes European exports less price-competitive in critical international markets. The dollar’s decline stems from concerns that proposed tariffs could hinder economic growth and that political pressure on Federal Reserve Chair Jerome Powell might undermine the institution’s inflation control capabilities.

    Financial analysts suggest the European Central Bank might implement interest rate reductions later this year should currency pressures persist. Meanwhile, Germany—the eurozone’s largest economy—recorded its strongest quarterly performance in three years with 0.3% growth, though the government has revised its 2026 growth forecast downward from 1.3% to 1%. The nation continues confronting multiple structural challenges including energy price volatility, skilled labor shortages, increased Chinese competition in automotive and machinery exports, and chronic infrastructure underinvestment.

    The broader 27-nation European Union mirrored the eurozone’s 0.3% quarterly growth, achieving 1.4% annual expansion. The euro currency union expanded to 21 members in January following Bulgaria’s accession.

  • Taiwan’s economy grows 8.6% in 2025, fastest rate in 15 years, turbocharged by the AI boom

    Taiwan’s economy grows 8.6% in 2025, fastest rate in 15 years, turbocharged by the AI boom

    TAIPEI, Taiwan — Taiwan’s economy has recorded its most robust annual expansion in 15 years, achieving an impressive 8.6% growth rate throughout the previous year. This exceptional performance, significantly surpassing economic forecasts, has been primarily driven by soaring exports in artificial intelligence technologies and increased shipments to the United States.

    The island nation’s statistical authority released advanced estimates indicating this represents the strongest economic performance since 2010. Taiwan’s strategic position as a manufacturing hub for AI servers, computer chips, and precision instruments has positioned it advantageously within the global technology supply chain. Export figures reveal a remarkable 35% annual increase, with shipments to the U.S. market surging by an extraordinary 78%.

    Recent trade agreements with the United States have further strengthened Taiwan’s economic prospects. The newly established trade deal reduces U.S. tariffs on Taiwanese imports from 20% to 15% in exchange for substantial investment commitments exceeding $250 billion in semiconductor and AI sectors within the United States.

    Leading technology corporations including Taiwan Semiconductor Manufacturing Company (TSMC) and Foxconn have reported record-breaking profits and revenues. TSMC, the world’s premier contract chipmaker and key supplier to Nvidia, continues to demonstrate formidable market presence, while Foxconn maintains critical manufacturing partnerships with both Nvidia and Apple.

    Despite current successes, economists project moderated growth in coming years due to higher baseline comparisons. Deutsche Bank forecasts approximately 4.8% economic expansion for 2026. Potential challenges include concerns regarding AI market sustainability, evolving U.S. trade policies under potential Trump administration changes, and ongoing geopolitical tensions with Beijing. China recently conducted substantial military exercises around Taiwan, reinforcing territorial claims over the self-governed island.

  • Urban regeneration in the UAE: Turning derelict spaces into community catalysts

    Urban regeneration in the UAE: Turning derelict spaces into community catalysts

    Beyond the gleaming skylines and master-planned developments for which it is renowned, the United Arab Emirates is quietly pioneering a transformative urban movement. A strategic shift toward adaptive reuse is converting derelict, underutilized, and forgotten properties across the nation into vibrant epicenters of community, culture, and commerce.

    This paradigm change, fueled by progressive zoning reforms and forward-thinking urban planning frameworks like the Dubai 2040 Urban Plan, is redefining urban growth. It positions adaptive reuse not as an alternative to development, but as a complementary strategy that prioritizes value creation over mere expansion. The central question evolving cities face—what to do with structures that have outlived their original purpose—is being met with innovative answers that unlock significant economic and social capital.

    Exemplifying this trend is the metamorphosis of Al Yaqoub Tower on Sheikh Zayed Road. Once a largely vacant icon known as Dubai’s ‘Big Ben,’ stalled by financial disputes, it is now being redeveloped into the AHS Tower, a premier Grade A+ commercial office building. Its remarkable success, with 95% of space pre-leased ahead of completion, demonstrates the potent viability of reactivating underperforming assets in prime locations, a move often more sustainable and effective than new construction.

    The movement extends beyond single towers to encompass entire districts. La Mer, a former popular beachfront retail destination, is being re-envisioned by Merex Investment into J1 Beach, a dynamic day-to-night lifestyle hub. This approach prioritizes long-term relevance and flexible, experience-driven placemaking over short-term trends.

    Nowhere is the cultural impact more palpable than in Al Quoz, where former industrial warehouses are being repurposed into creative studios, event venues, and small businesses, forming the burgeoning Al Quoz Creative Zone. This builds on the seminal success of Alserkal Avenue, proving regeneration can anchor permanent creative economies, not just temporary installations.

    In Abu Dhabi, the scope ranges from the historical restoration of Qasr Al Hosn to initiatives like MiZa in Mina Zayed, where historic warehouses are becoming mixed-use innovation spaces. Collectively, these projects signal a broader national direction: leveraging regeneration as a primary tool for balanced, people-centric urban development that weaves together heritage, environmental responsibility, economic vitality, and public life. This thoughtful renewal of the existing urban fabric is ultimately shaping more resilient, inclusive, and connected communities for the future.

  • Aster DM Healthcare gets order to convene meetings for approval of merger with Quality Care India

    Aster DM Healthcare gets order to convene meetings for approval of merger with Quality Care India

    In a significant development within India’s healthcare sector, the National Company Law Tribunal (NCLT) Hyderabad Bench has formally authorized Aster DM Healthcare Limited to convene crucial shareholder and creditor meetings regarding its proposed merger with Quality Care India Ltd. This judicial green light represents a pivotal milestone in one of the largest healthcare consolidation initiatives recently announced in the country.

    The tribunal has scheduled the decisive meetings to occur between February 27 and March 13, 2026, where stakeholders will vote on the merger proposition. The transaction has already secured essential clearances from the Competition Commission of India (CCI) and received no-objection certifications from relevant stock exchanges. Pending successful shareholder approval and fulfillment of remaining conditions, the organizations anticipate finalizing the merger by the first quarter of fiscal year 2027.

    The combined entity, to be named Aster DM Quality Care Ltd, will emerge as one of India’s top three hospital chains with an impressive network exceeding 10,360 beds nationwide. This new healthcare powerhouse will be jointly promoted by Aster’s founding promoters and global investment firm Blackstone, unifying four renowned healthcare brands: Aster DM, CARE Hospitals, KIMSHEALTH, and Evercare.

    Dr. Azad Moopen, Founder and Chairman of Aster DM Healthcare, expressed confidence in obtaining stakeholder approvals, emphasizing the strategic rationale behind the consolidation. “We remain committed to working toward a speedy completion of the merger,” stated Dr. Moopen. “Our focus will be on executing a disciplined integration strategy that leverages the complementary networks, clinical expertise, and operational strengths of both organizations.”

    The merger is positioned to create a more resilient healthcare delivery system capable of scaling efficiently while enhancing clinical excellence and accelerating innovation. Looking beyond the immediate consolidation, the combined entity has ambitious expansion plans aiming to increase bed capacity to approximately 14,715 beds in the coming years, significantly boosting access to quality medical care across India.