Global Pulse

分类： business

  • Botim Money launches digital silver investing from Dh10

    Botim Money launches digital silver investing from Dh10

    In a significant expansion of its digital wealth ecosystem, UAE-based fintech platform Botim Money has launched fractional silver investing, enabling users to trade the precious metal with investments as low as Dh10. The new feature, accessible through the Botim app, allows eligible users to purchase, sell, and manage digital silver holdings without the traditional barriers associated with physical precious metals.

    This strategic move follows the remarkable success of Botim Money’s gold investment service, introduced in partnership with OGold in 2025, which has processed over 128,000 trades totaling more than Dh100 million in transaction value. The platform’s latest offering eliminates conventional obstacles such as high minimum purchase requirements, storage costs, and handling concerns that have historically limited retail participation in precious metals markets.

    Sacha Haider, Chief Operating Officer of Astra Tech and Botim, emphasized that fractional investing has removed traditional investment thresholds, creating accessible pathways for portfolio diversification. The initiative strengthens Botim’s partnership with OGold, an Emirati precious metals platform dedicated to digitizing gold and silver ownership.

    Bandar Alothman, Chairman and Founder of OGold, highlighted that the collaboration enables digital silver holdings to generate returns through structured investment solutions rather than remaining idle assets. The launch comes at a pivotal time for silver markets, with industry forecasts projecting a sixth consecutive annual supply deficit in 2026 of approximately 67 million ounces, alongside growing retail investment demand despite softer industrial consumption in certain segments.

    This development reflects the broader transformation toward digital-first financial services in the UAE, where fintech platforms are increasingly integrating accessible investment tools within everyday payment and remittance applications, particularly appealing to younger and first-time investors seeking inflation hedges and portfolio diversification options.

  • Food prices are surging in Russia. Is the war hitting Russians in the pocket?

    Food prices are surging in Russia. Is the war hitting Russians in the pocket?

    Russia’s economy is exhibiting clear signs of distress as persistent inflation, directly linked to the nation’s military engagement in Ukraine, severely impacts the cost of living for ordinary citizens. Comprehensive analysis reveals a troubling economic trajectory characterized by soaring prices for essential goods, diminishing household budgets, and growing financial uncertainty.

    Economic pressures have become increasingly palpable since the beginning of 2026, with official statistics from Rosstat, Russia’s federal statistics service, indicating a sharp 2.3% surge in supermarket prices within just one month. This acceleration follows a pattern of steady price increases that began with the full-scale invasion of Ukraine nearly four years ago, though the effects remained somewhat masked until recently by substantial government spending and wartime economic activity.

    The BBC’s longitudinal price monitoring study, tracking an identical basket of 59 basic goods in Moscow since 2019, demonstrates the cumulative impact: the cost has escalated by 18.6% since 2024, rising from 7,358 roubles to 8,724 roubles. This aligns closely with Rosstat’s documented food inflation rate of 18.1% over the same two-year period.

    Particularly affected are fruit and vegetables, which have increased nearly 15% since 2024 due to Russia’s dependence on imports and vulnerability to rouble fluctuations and supply chain disruptions. More dramatically, dairy products—typically domestically produced—have skyrocketed by 41% over two years, reflecting critical challenges within Russia’s agricultural sector including rising farm costs, expensive credit, and labor shortages.

    The recent implementation of a value-added tax increase from 20% to 22% on January 1, 2026, explicitly intended to finance defense and security expenditures, has further exacerbated price pressures. This fiscal measure directly links consumer price inflation to military funding priorities.

    Personal accounts from Moscow residents illustrate the tangible consequences. Alexander, an advertising professional, witnessed his monthly food budget jump 22% in one month. Nadezhda, a 68-year-old pensioner, now allocates her entire monthly pension of 32,000 roubles exclusively to food, forcing the postponement of other essential expenses. Kristina, a marketing specialist, reports that her home-cooked dinner costs have more than doubled, compelling her family to rely on savings for basic groceries.

    Despite Central Bank Governor Elvira Nabiullina’s previous assertions about approaching balanced economic growth, independent economists express concern. The convergence of falling oil prices—a critical revenue source for the federal budget—and stringent US sanctions disrupting energy exports to key markets like India threatens to widen Russia’s budget deficit beyond planned levels.

    With limited borrowing options due to high interest rates and international reluctance to finance a nation engaged in active conflict, Russian authorities face difficult choices between further tax increases or spending cuts. Economic experts including Tatiana Mikhailova, an economist at Penn State University, warn of impending economic stagnation and potential GDP decline, noting that oil price volatility consistently poses recession risks for Russia’s commodity-dependent economy.

    The collective evidence points to a deteriorating economic environment where military priorities continue to dictate fiscal policy at the expense of household financial stability, with no immediate relief in sight for consumers bearing the brunt of wartime economic management.

  • Warren Buffett’s company invests in the New York Times six years after he sold all his newspapers

    Warren Buffett’s company invests in the New York Times six years after he sold all his newspapers

    In a striking reversal of his previously bearish stance on print media, Warren Buffett’s Berkshire Hathaway has unveiled a substantial $350 million investment in The New York Times Company. The move, disclosed in Berkshire’s quarterly SEC filing covering Buffett’s final quarter as CEO, signals a notable shift in perspective toward media enterprises with successful digital transformation strategies.

    The investment comes precisely five years after Buffett liquidated Berkshire’s entire newspaper portfolio, famously declaring the traditional industry “toast” in 2020. At that time, however, he had acknowledged that nationally recognized brands like The New York Times or Wall Street Journal might still thrive through digital adaptation.

    Northwestern University’s Medill School of Journalism Chair Tim Franklin described the investment as “a full circle moment for Berkshire Hathaway in reinvesting in news and a huge vote of confidence in the business strategy of the New York Times.” Franklin emphasized that the Times has evolved beyond its print origins into a multifaceted digital enterprise, boasting popular assets like Wordle, The Athletic sports platform, and over 12 million digital subscribers.

    The filing also revealed Berkshire’s continued positioning in energy markets, adding approximately 8 million Chevron shares to reach over 130 million shares total. This expansion preceded President Trump’s order for the arrest of Venezuela’s president, which subsequently boosted oil stocks. Chevron, as the only major U.S. oil company with significant Venezuelan operations producing roughly 250,000 barrels daily, has seen its stock surge nearly 19% since early 2026.

    Meanwhile, Berkshire continued reducing positions in previously favored holdings, selling approximately 50 million Bank of America shares while maintaining 81 million, and trimming its massive Apple stake by about 10 million shares while retaining nearly 228 million.

    The quarterly filing doesn’t specify whether Buffett personally authorized the Times investment or if it was executed by one of Berkshire’s other investment managers. Given the $350 million size falls below Buffett’s typical $1 billion threshold for personal oversight, the decision may have originated from his successors. Nonetheless, the move has already influenced market behavior, with Times shares jumping nearly 3% in after-hours trading following the disclosure.

  • Israel’s largest cargo firm acquired by Saudi and Qatari-owned German shipping giant

    Israel’s largest cargo firm acquired by Saudi and Qatari-owned German shipping giant

    In a landmark maritime industry consolidation, German shipping conglomerate Hapag-Lloyd has formalized a $4.2 billion agreement to acquire Israel’s flagship cargo carrier ZIM. The transaction, pending final approval from Israeli authorities, represents one of the most significant developments in global shipping this year.

    The acquisition structure reveals complex international ownership ties. Hapag-Lloyd, ranked as the world’s fifth-largest container shipping line, counts Middle Eastern sovereign wealth funds among its principal stakeholders. Qatar Investment Authority maintains a 12.3% ownership stake while Saudi Arabia’s Public Investment Fund controls 10.2% of the German company.

    ZIM Integrated Shipping Services, established in 1945 following Israel’s founding, represents the nation’s largest maritime transport operator. Though privatized in the early 2000s, the Israeli government retains partial ownership through state-held shares. The Government Companies Authority has requested additional documentation before granting final approval.

    The acquisition framework includes notable operational provisions. Israeli private equity firm FIMI will partner with Hapag-Lloyd to manage ZIM’s domestic operations, with CEO Ishay Davidi emphasizing the strategic importance of maintaining “a strong independent Israeli shipping company.” The German carrier has committed to sustaining ZIM’s development center in Haifa with planned investments in cybersecurity infrastructure.

    Labor tensions have emerged as a significant complication. ZIM’s unionized workforce initiated immediate strike action following the announcement, halting all loading and unloading operations. Union chairman Oren Casspi declared vehement opposition, stating workers would “burn the company down” rather than accept the acquisition under current terms. Approximately 880 Israeli employees face potential job losses despite Hapag-Lloyd’s commitment to guarantee all positions for at least one year post-acquisition.

    The transaction’s completion timeline extends through 2026 due to regulatory processes, with Hapag-Lloyd representative Samer Haj-Yehia characterizing the acquisition as recognizing “national interest of the State of Israel” while ensuring financial resilience.

  • Dubai to inspect price stability of 9 goods on daily basis in Ramadan

    Dubai to inspect price stability of 9 goods on daily basis in Ramadan

    Dubai’s Department of Economy and Tourism (DET) has launched an intensified daily inspection regime targeting price stability for nine essential commodities throughout Ramadan 2026. The comprehensive monitoring program focuses on cooking oil, eggs, dairy products, rice, sugar, poultry, legumes, bread, and wheat—items deemed critical for household consumption during the holy month.

    Inspectors are utilizing specialized barcode-scanning devices that instantly verify whether merchandise prices remain within government-mandated ranges. According to UAE regulation, any price increase on these designated essentials requires formal approval from the Ministry of Economy and Tourism accompanied by justified rationale.

    Ahmed Ahli, Director of Tourism Activities Monitoring at DET, confirmed to Khaleej Times that while seasonal staples like samosas, Vimto, and dates aren’t price-controlled, they remain subject to reasonableness checks. The daily inspection protocol—also implemented during Eid, New Year’s Eve, and back-to-school periods—supplements regular monthly price verification routines.

    The initiative builds upon previous enforcement efforts that recorded 7,702 violations nationwide in 2025, with 93.9% of consumer complaints resolved within days. DET has already conducted 400 site visits and 10 supplier workshops emphasizing consumer rights obligations this season.

    A critical aspect of the inspections involves ensuring retailers transparently display loyalty program pricing. “Previously these were footnotes in small font,” Ahli noted. “Now we mandate clear, bold labeling indicating whether prices apply to all customers or specific program members.”

    The department emphasizes evidentiary requirements for consumer complaints, urging shoppers to retain receipts and documentation. Complaints without supporting evidence frequently face dismissal, according to officials. Consumers may submit grievances through the official portal (consumerrights.gov.ae) or hotline (600 545 5555).

    Alongside enforcement, DET continues consumer awareness campaigns including digital distribution of the ‘Consumer Rights Guide’ to encourage violation reporting. Last year’s nearly 100,000 requests included approximately 89,000 consumer complaints, though officials note not all complaints indicate merchant fault, sometimes reflecting misunderstandings or unmet expectations.

  • Shein under EU investigation over childlike sex dolls

    Shein under EU investigation over childlike sex dolls

    The European Commission has initiated formal proceedings against global fast fashion retailer Shein under the Digital Services Act (DSA), marking a significant escalation in regulatory scrutiny of the platform’s operations. The investigation will examine multiple alleged violations, including potential failures to prevent the sale of illegal products and concerns regarding platform design that may promote addictive user behavior.

    Central to the probe is the examination of systems designed to block prohibited items, with particular attention to content that could constitute child sexual abuse material. This follows previous reports to French authorities regarding the sale of childlike sex dolls on Shein’s platform, which the company states were immediately removed with accompanying seller bans and a complete prohibition on all sex doll sales regardless of appearance.

    The investigation will additionally assess the transparency of Shein’s algorithmic recommendation systems and the potential psychological impacts of its interface design. EC spokesperson Thomas Regnier expressed concerns about the ‘gamification’ elements and reward programs that may create addictive patterns, noting that while such features aren’t inherently problematic, their opaque algorithmic implementation raises regulatory questions.

    Under DSA provisions, Shein must disclose primary parameters governing product recommendations and provide users with non-profiling based alternatives. The formal investigation enables the Commission to pursue enforcement measures including potential fines of up to 6% of global annual revenue—a figure that could reach approximately $2.28 billion based on Shein’s reported $38 billion in 2024 sales.

    Shein has emphasized its cooperative stance with regulators, stating: ‘Protecting minors and reducing harmful content remains central to our operational philosophy. We have invested significantly in enhanced compliance measures, including comprehensive risk assessment frameworks and strengthened protections for younger users.’

  • Indian, Pakistani businesses top list of new firms joining Dubai Chamber in 2025

    Indian, Pakistani businesses top list of new firms joining Dubai Chamber in 2025

    Dubai’s commercial landscape witnessed unprecedented expansion in 2025 as the Dubai Chamber of Commerce reported substantial membership growth, predominantly driven by Asian business communities. Indian enterprises maintained their leading position with 18,486 new registrations, marking an 11% annual increase, while Pakistani companies followed closely with 9,138 new members, reflecting a robust 12% growth rate compared to 2024.

    The chamber’s comprehensive annual data revealed Egypt secured third position with 5,043 new companies, followed by the United Kingdom (2,733 companies, +5%) and Bangladesh (2,721 companies, +15%). The top ten was completed by Syria (1,907), China (1,583, +7%), Jordan (1,325), Türkiye (1,308), and the United States (1,054).

    Sectoral analysis demonstrated the real estate, renting, and business services domain dominated new membership activity, capturing 37.6% of all registrations. The wholesale and retail trade sector followed with 34.5%, while construction accounted for 17.2%. Social and personal services (7.9%) and transport, storage, and communications (7.2%) completed the sectoral distribution.

    Overall membership surged to 292,486 active companies by December 2025, representing a significant 13.2% annual growth from 258,318 in 2024. The total of 71,830 new registrations underscores Dubai’s continued attractiveness as a global business hub, particularly for Asian enterprises seeking international expansion opportunities.

  • No more OTP in UAE: Authentication through banks’ apps to prevent social media scams

    No more OTP in UAE: Authentication through banks’ apps to prevent social media scams

    The United Arab Emirates banking sector is undergoing a transformative security modernization, decisively moving away from traditional one-time passwords (OTPs) delivered via SMS or email. This strategic shift, mandated with a deadline of March 31, 2026, sees financial institutions replacing outdated methods with integrated in-app transaction authorization systems designed to be both faster and significantly more secure.

    The initiative is a direct response to a global surge in sophisticated fraud, particularly social engineering scams proliferating on social media platforms that have also victimized UAE residents. Banking executives and regulators identified the inherent vulnerabilities of SMS-based OTPs—such as interception and phishing—as a critical weakness. The new protocol mandates ‘hard authentication’ directly within a bank’s secured application, effectively creating a more robust barrier against unauthorized access.

    Raheel Ahmed, Group CEO of RAKBank, championed the decision as a necessary and correct move for the industry. He emphasized that the transition is not merely a technical upgrade but a fundamental enhancement of customer security. RAKBank itself has already successfully expanded its in-app authentication system to over 180,000 customers, reporting an impressive 80% authorization rate and a smooth, friction-free adoption process supported by educational videos.

    This cybersecurity enhancement is perfectly timed with the nation’s explosive growth in digital and e-commerce transactions, which are estimated to have surpassed a monumental $60 billion in 2025. Data from the Central Bank of the UAE further underscores this digital boom, showing a 22.57% increase in retail transactions under the UAE Funds Transfer System (UAEFTS) in 2024, with a total value of Dh7.4 trillion.

    Beyond immediate security benefits, this initiative is a powerful catalyst for the UAE’s broader vision of a cashless economy, driving greater digital banking app engagement. Acknowledging the digital divide, banks are implementing thoughtful support systems, particularly for elderly customers, to ensure technological literacy does not become a barrier to access. This comprehensive approach ensures the nation’s financial ecosystem remains both inclusive and at the forefront of cybersecurity innovation.

  • A-MAP Group and ADNOC Distribution renew strategic alliance to accelerate lubricants market leadership

    A-MAP Group and ADNOC Distribution renew strategic alliance to accelerate lubricants market leadership

    In a significant development for the automotive lubricants industry, A-MAP Group has officially renewed its strategic partnership with ADNOC Distribution, cementing a powerful collaboration designed to reinforce market dominance and drive sustainable growth across key regions.

    The enhanced alliance strategically combines ADNOC Distribution’s robust national energy platform with A-MAP Group’s extensive distribution infrastructure. This synergy is positioned to accelerate market expansion, optimize supply chain efficiency, and address the rapidly evolving demands of customers and sustainability standards throughout the UAE and international markets.

    Asad Badami, Managing Director of A-MAP Group, emphasized the partnership’s critical role within the company’s growth strategy. He highlighted A-MAP’s commitment to delivering strong infrastructure, extensive customer reach, and an unwavering focus on performance and operational reliability to support ADNOC Distribution’s objectives.

    Echoing this sentiment, Eng. Saber Mohammed Al Ammari, Vice-President of Lubricant, Base Oil & Specialty Products at ADNOC Distribution, underscored the value of their long-standing collaboration. He noted that the partnership has been fundamental in expanding the footprint of the ADNOC Voyager lubricant brand across the UAE. By leveraging trusted distributors like A-MAP, ADNOC can enhance its market penetration, streamline its supply chain, and deliver premium lubricant solutions tailored to the needs of modern drivers and fleet operators. Al Ammari stated that such large-scale collaboration is essential for fostering shared growth, building market resilience, and ensuring consistent value delivery across all served markets.

    Operational metrics reveal the scale of this partnership: A-MAP Group currently manages over 700 customer accounts for ADNOC Voyager lubricants within the UAE, supported by a massive logistics and warehousing capacity exceeding 270,000 square feet. Beyond domestic operations, the group is expanding its global influence, operating in more than 60 international markets, which solidifies its status as a scalable and globally interconnected distribution leader.

  • Ramadan in UAE: Hotels raise iftar, suhoor rates in 2026 amid upgraded offerings

    Ramadan in UAE: Hotels raise iftar, suhoor rates in 2026 amid upgraded offerings

    The United Arab Emirates hospitality sector is witnessing a significant transformation in Ramadan services for 2026, with hotels implementing strategic price increases alongside substantially upgraded culinary and experiential offerings. Industry executives confirm that iftar and suhoor rates have risen across mid-range to luxury establishments, marking a return to pre-pandemic demand levels with earlier booking patterns emerging throughout the market.

    According to Ayman Ashor, General Manager of Al Bandar Rotana and Al Bandar Arjaan by Rotana, the measured price adjustments reflect current market conditions and rising operational costs. “Any adjustment in rates is always matched with a richer experience,” Ashor emphasized. “This year, we have expanded our buffet selections, added more live cooking stations, and introduced new regional specialities alongside international favourites.”

    The market analysis reveals distinct trends between corporate and individual bookings. Corporate clients are demonstrating preference for banquet-style iftars designed for scale, particularly favoring venues offering flexibility and personalized settings for team gatherings. Meanwhile, individual bookings are increasingly experience-driven, with guests selecting venues based on ambiance, live music, standout culinary stations, and atmospheric settings.

    Northern Emirates are experiencing particularly strong recovery, with Iftikhar Hamdani, Area General Manager for Bahi Ajman Palace Hotel and Coral Beach Resort Sharjah, reporting that corporate and group iftars have returned to pre-Covid levels. “Guests are not only paying for a meal; they are paying for a complete Ramadan experience—from the moment they arrive until the end of the evening,” Hamdani noted, adding that Ramadan décor budgets have doubled compared to 2025.

    A notable shift in consumer behavior involves younger guests showing increased preference for traditional ambience and cultural authenticity. Hotels are responding by creating dedicated Ramadan tents, outdoor venues for suhoor, and implementing extended late-night timings with lounge-style seating arrangements.

    In Abu Dhabi, Rosewood Managing Director Remus Palimaru described “considered pricing adjustments” rather than significant increases, emphasizing the market’s mindfulness of Ramadan’s spiritual significance. “Pricing strategies are taking into account quality, atmosphere, and service as part of the full Ramadan offering,” Palimaru stated, confirming that any increases are matched by expanded or elevated offerings.

    The overall market demonstrates robust recovery with booking patterns occurring significantly earlier than previous years, indicating strong consumer confidence and anticipation for premium Ramadan experiences throughout the UAE hospitality sector.