Global Pulse

分类： business

  • Breather for buyers as Dubai gold prices fall, lose nearly Dh14 per gram in 6 days

    Breather for buyers as Dubai gold prices fall, lose nearly Dh14 per gram in 6 days

    Dubai’s gold market experienced a notable downturn this week as prices continued their descent for the second consecutive trading session. The precious metal’s decline, attributed primarily to a strengthening US dollar and subdued trading activity across Asian markets, has created favorable conditions for both retail consumers and strategic investors.

    According to the latest data from the Dubai Jewellery Group, 24K gold opened Tuesday’s trading at Dh596.75 per gram, representing a significant drop from Monday’s closing price of Dh602.0 per gram. This downward trajectory has persisted for six consecutive days, cumulatively reducing gold prices by nearly Dh14 per gram across all variants.

    The price correction has extended across all gold categories, with 22K, 21K, 18K, and 14K gold now trading at Dh552.5, Dh529.75, Dh454.25, and Dh354.25 per gram respectively. This broad-based decline has generated renewed interest among jewelry shoppers in the UAE, particularly those planning purchases for upcoming weddings and special events.

    Concurrently, international spot gold prices reflected the trend, trading at $4,941.18 per ounce with a 1% decline as of 9:10 AM UAE time on Tuesday. Market analysts interpret this correction as a potential buying opportunity, with many investors increasing their exposure to both physical bullion and digital gold assets.

    Vijay Valecha, Chief Investment Officer at Century Financial, provided expert analysis of the underlying market dynamics. ‘Recent US CPI data offered limited relief,’ Valecha noted. ‘While headline CPI benefited from energy price movements and core inflation moderated slightly due to softer shelter components, underlying details remain concerning. Core goods inflation has shown signs of firming, potentially indicating early effects of tariff implementations.’

    The Federal Reserve’s monetary policy outlook has consequently adjusted, with Fed funds futures currently pricing approximately 62.1 basis points of cuts by year-end—equivalent to roughly two and a half quarter-point adjustments. This anticipated easing cycle, potentially beginning in June and extending through the second half, traditionally provides support for gold valuations.

    Valecha further highlighted gold’s complex behavior during equity market stress periods, noting that ‘in times of extreme equity market distress, the precious metal sometimes experiences correlated declines as investors liquidate liquid assets to cover losses elsewhere.’ This characteristic underscores gold’s dual role as both a safe-haven asset and a liquid financial instrument.

  • Stake raises Dh113.7 million in Series B funding; Emirates NBD, Mubadala buy share

    Stake raises Dh113.7 million in Series B funding; Emirates NBD, Mubadala buy share

    Dubai-based real estate investment platform Stake has successfully concluded an oversubscribed Series B funding round, raising $31 million (Dh113.77 million) from a consortium of prominent regional investors. The investment was led by Emirates NBD bank and Mubadala Investment Company, with additional participation from Property Finder, Ellington Properties, Middle East Venture Partners (MEVP), STV NICE, Wa’ed Ventures, and GFH Partners.

    This latest injection of capital brings Stake’s total funding to date to $58 million (Dh213 million), significantly strengthening its position in the digital real estate investment sector. The platform, founded in the UAE in 2021 and expanded to Saudi Arabia in 2024, has built a substantial community exceeding 2 million users from 211 nationalities.

    Neeraj Makin, Group Head for Strategy, Analytics and Venture Capital at Emirates NBD, emphasized the strategic importance of the investment: “Real estate remains a foundational component of global investment portfolios, yet there is an opportunity to improve how many investors access and gain transparency into these assets. Our strategic investment in Stake represents a significant step in expanding our digital investment capabilities.”

    The funding will primarily support Stake’s expansion in the Saudi market, which the company identifies as a strategic growth opportunity. Since entering Saudi Arabia, Stake has already closed three real estate funds, attracting 6,930 international investors and channeling over SAR 416 million into the local real estate sector.

    Co-founder and co-CEO Rami Tabbara commented on the institutional backing: “To have institutions like Emirates NBD, Mubadala, Property Finder, MEVP, Wa’ed Ventures, GFH Partners, STV and Ellington Properties join us is a reminder that our region believes in ambitious ideas and in the power of technology to transform industries.”

    In a significant regulatory development, Stake has received In-Principle Approval from Dubai’s Virtual Assets Regulatory Authority (VARA) to advance regulated tokenization of real estate assets in collaboration with Property Finder. This positions the company at the forefront of blockchain integration in Middle Eastern real estate markets.

    To date, Stake has facilitated over 250,000 investments across 500-plus properties and four private real estate funds, distributing more than Dh55 million in rental income and surpassing Dh1.4 billion in real estate transactions.

  • Air India Express unveils new Hyderabad-Dubai non-stop flights

    Air India Express unveils new Hyderabad-Dubai non-stop flights

    Air India Express has officially announced the launch of non-stop flight services connecting Hyderabad and Dubai, marking a significant expansion of its Gulf network. The new route, scheduled to commence operations on March 29, 2026, represents a strategic realignment within the Air India Group’s restructuring initiative that will see numerous Middle Eastern routes transition to its low-cost subsidiary.

    The airline confirmed that passengers booking these flights will have access to its premium ‘Gourmair’ hot meal service starting at just ₹500. This development comes alongside the carrier’s ongoing ‘Xpress More Sale,’ offering substantial discounts of up to 20% on both domestic and international routes, with approximately five million seats available at promotional fares.

    Hyderabad’s Rajiv Gandhi International Airport already serves as a operational hub for Air India Express, with existing connections to multiple Gulf destinations including Abu Dhabi, Bahrain, Dammam, Doha, Jeddah, Kuwait City, Muscat, and Sharjah. The addition of Dubai flights further solidifies the airline’s position in the competitive India-Gulf aviation market.

    The promotional sale, which began with early access through the airline’s digital platforms on February 1, officially ran from February 2-5, 2026. Bookings made during this period are valid for travel between February 11 and December 31, 2026, covering the carrier’s entire route network.

  • Powering industrial diversification efforts

    Powering industrial diversification efforts

    Brunei Fertilizer Industries (BFI) has rapidly transformed into a strategic national asset since its establishment in 2013, demonstrating remarkable success in advancing Brunei’s economic diversification agenda. Operating Southeast Asia’s largest single-train fertilizer facility, the company converts domestic natural gas into high-value ammonia and urea products for export across Asia, Africa, and the Americas.

    Under CEO Dr. Harri Kiiski’s leadership, BFI has achieved industry recognition as one of only 30 stewardship champions within the International Fertilizer Association’s 500-member network. The company boasts an exceptional safety record of over 4.2 million injury-free working hours while establishing itself as a reliable supplier with premium-quality products.

    The enterprise has significantly contributed to national workforce development, increasing Bruneian employment from 70% to 78% of its workforce. Through targeted graduate recruitment programs, BFI has developed 160 young professionals into key operational roles, aligning with Brunei’s Wawasan 2035 development vision.

    Technologically, BFI utilizes world-class licensed processes producing 2,200 tonnes of ammonia and 3,900 tonnes of urea daily. The company is advancing into specialty fertilizers containing inhibitors, micronutrients, and biostimulants to address regional food security challenges and soil health issues, particularly zinc deficiency affecting women and children.

    Environmental sustainability remains central to operations, with modern processes optimizing energy efficiency, reducing water intensity, and limiting emissions. The company explores future opportunities in carbon capture, storage, and green energy integration through the ASEAN grid.

    Strategically positioned at market center with superior logistics capabilities, BFI offers 30-40% lower transport emissions compared to Middle Eastern producers. The company now serves as a confidence anchor for investors in chemicals, energy transition, and advanced manufacturing, positioning Brunei as an emerging hub for future-oriented industries.

  • Japan’s Kashiwazaki-Kariwa nuclear plant resumes power transmission

    Japan’s Kashiwazaki-Kariwa nuclear plant resumes power transmission

    In a landmark development for Japan’s energy sector, Tokyo Electric Power Company (TEPCO) has successfully recommenced electricity generation and transmission from its Kashiwazaki-Kariwa nuclear facility in Niigata prefecture. This reactivation marks the first operational resumption of a TEPCO-controlled nuclear unit since the catastrophic Fukushima Daiichi incident in March 2011.

    The Number 6 reactor at the plant initiated power delivery to the Tokyo metropolitan grid at 10:00 PM local time on Monday, ending an approximate 14-year suspension of nuclear energy distribution. The restart follows extensive safety evaluations and represents a pivotal moment in Japan’s gradual return to nuclear power generation.

    According to the operational timeline, TEPCO will incrementally increase the reactor’s output capacity to 50% of its maximum 1.35-million-kilowatt potential before implementing a temporary shutdown later this week. This planned pause will facilitate comprehensive testing of the power-generation infrastructure. Provided all systems perform within expected parameters, the utility company anticipates elevating output to full capacity and initiating commercial operations by March 18.

    The Kashiwazaki-Kariwa facility, situated approximately 220 kilometers northwest of Tokyo, holds distinction as the world’s largest nuclear power plant by potential generation capacity. Despite its technical significance, the reactor’s reactivation has encountered substantial opposition from local communities and seismic experts who contend the plant resides above an active geological fault line, raising ongoing safety concerns.

  • Shein faces EU investigation over illegal products and addictive design features

    Shein faces EU investigation over illegal products and addictive design features

    The European Commission has initiated formal proceedings against fast-fashion retailer Shein under the Digital Services Act (DSA), marking a significant escalation in regulatory scrutiny of the online marketplace. European regulators are examining whether the platform has adequately prevented the sale of unlawful merchandise and protected consumers from potentially addictive interface designs.

    This investigation follows previous enforcement actions in France, where authorities discovered prohibited items including firearms, knives, machetes, and child-like sex dolls available through Shein’s platform. Although French attempts to restrict access to the website were previously blocked by judicial authorities, the matter has now been elevated to EU-level scrutiny.

    The probe will specifically assess Shein’s compliance mechanisms regarding three critical areas: prevention of illegal product sales, mitigation of addictive platform features that employ reward systems for user engagement, and transparency of algorithmic recommendation systems that suggest products to consumers without adequate explanation.

    Shein faces potential substantial financial penalties or mandatory operational modifications should the investigation conclude with a non-compliance determination. The company has publicly committed to cooperating with regulators, emphasizing substantial investments in DSA compliance measures including enhanced youth protection protocols and comprehensive risk assessment frameworks.

  • Nigeria and Kenya lead Africa’s push for electric vans assembled from Chinese EV kits

    Nigeria and Kenya lead Africa’s push for electric vans assembled from Chinese EV kits

    Across Africa’s largest economies, a transformative shift in transportation is underway as e-mobility companies establish local assembly operations for electric vehicles through strategic Chinese partnerships and innovative financing models. Nigeria and Kenya are emerging as continental leaders in this green transportation revolution, leveraging imported Chinese kits to build electric vans and taxis tailored for African markets.

    In Nigeria, Saglev—a joint venture between Stallion Group and China’s Sokon Motor—has commenced assembly of 18-seater electric passenger vans using components from Dongfeng Motor Corp. The Lagos-based manufacturer aims to produce up to 2,500 vehicles annually, with plans to expand to 17 electric models for West African markets. CEO Olu Falaye heralded this development as “a major step in Nigeria’s transition toward clean, fossil-free transportation,” marking the first mass transit EV assembled locally in sub-Saharan Africa.

    Simultaneously in Kenya, Rideence Africa has invested $2.46 million in a partnership with Associated Vehicle Assemblers (AVA) to produce electric taxis and minibuses using kits from Jiangsu Joylong Automobile and Beijing Henrey Automobile Technology. Managing Director Minnan Yu emphasized the company’s evolution “from operator to manufacturer,” with ambitions to create a “Kenya-rooted new-energy mobility company serving Africa.”

    The economic advantages are substantial: EV charging costs average approximately $3 for 200 kilometers compared to over $15 for petrol equivalent distances. However, the transition faces infrastructure challenges, particularly regarding reliable power sources. Saglev addresses this by planning solar-powered charging stations to ensure consistent energy supply.

    Innovative financing models are crucial to adoption. Rideence leases taxis to drivers for about $18 daily, while BasiGo-Kenya Vehicle Manufacturer requires a deposit plus 20 cents per kilometer driven. These pay-as-you-drive and lease-to-own options overcome financial barriers in markets where credit access is limited and upfront vehicle costs are prohibitive.

    Despite progress, EVs remain a tiny fraction of Africa’s vehicle population—approximately 30,000 compared to millions of fossil-fuel vehicles. The continent produced just 1.1 million vehicles total in the previous year, with 90% manufactured in Morocco and South Africa. Nevertheless, industry experts like Dennis Wakaba of Kenya’s Electric Mobility Association note that scaling local assembly has already reduced costs, making EVs increasingly accessible to transport operators across the continent.

  • Shares fall in Japan, while most of Asia’s markets are shut for the Lunar New Year holiday

    Shares fall in Japan, while most of Asia’s markets are shut for the Lunar New Year holiday

    Tokyo’s financial markets experienced a notable downturn on Tuesday, with the benchmark Nikkei 225 index declining approximately 1% to settle at 56,237.65 by midday. This pullback occurred against a backdrop of limited regional trading activity, as numerous Asian markets remained closed in observance of Lunar New Year celebrations.

    The market retreat appears driven by multiple factors, including profit-taking activities following the Nikkei’s recent record-breaking performance. Investor sentiment was further dampened by disappointing economic indicators released Monday and a substantial 6.2% decline in shares of technology conglomerate SoftBank Group, which exerted significant downward pressure on the overall index.

    This market correction follows a substantial rally triggered by Prime Minister Sanae Takaichi’s decisive electoral victory on February 8. However, recent polling data indicates diminishing public enthusiasm for the administration’s economic revitalization strategy, which centers on increased government expenditure and tax reduction measures.

    Meanwhile, Australia’s S&P/ASX 200 demonstrated modest growth, advancing 0.3% to reach 8,964.10. Conversely, India’s Sensex experienced a slight 0.1% decrease, while Thailand’s SET index registered a marginal decline of less than 0.2%.

    Commodity markets presented a mixed landscape, with benchmark U.S. crude oil gaining 65 cents to $63.54 per barrel, while Brent crude, the international standard, declined 29 cents to $68.36. Precious metals faced substantial selling pressure, with gold prices falling 1.4% and silver experiencing a more pronounced 3.4% decrease. Cryptocurrency markets also saw declines, with Bitcoin dropping 0.6% to approximately $68,500.

    Currency markets witnessed the U.S. dollar weakening slightly against the Japanese yen, trading at 153.17 yen compared to 153.51 yen previously. The euro also softened against the dollar, declining to $1.1841 from $1.1852.

    This market activity follows mixed European trading on Monday and a closure of U.S. markets for the Presidents Day holiday, with American exchanges scheduled to resume operations on Tuesday.

  • UAE in pole position as global wealth migration surges

    UAE in pole position as global wealth migration surges

    A significant structural shift in global wealth distribution is underway as high-net-worth individuals increasingly seek jurisdictions offering fiscal predictability and political stability. According to fresh data from financial advisory firm deVere Group, approximately 35% of affluent investors are actively considering relocation to lower-tax, policy-stable environments, signaling a fundamental transformation in international wealth management strategies.

    The United Arab Emirates has positioned itself as the primary beneficiary of this capital migration trend, attracting entrepreneurs, investors, and ultra-high-net-worth families through its zero personal income tax regime, robust legal framework, and world-class infrastructure. The country’s Golden Visa program and long-term residency options have further enhanced its appeal as a secure base for internationally mobile capital.

    Industry analysts confirm the acceleration of what has been termed the ‘Great Wealth Migration,’ with defensive wealth preservation strategies now driving relocation decisions rather than purely expansion-oriented motives. Nigel Green, CEO of deVere Group, emphasizes that wealthy individuals are systematically reassessing their geographic bases in response to tax changes, geopolitical tensions, and policy unpredictability in traditional wealth centers.

    Property markets in Dubai and Abu Dhabi have played a crucial role in attracting global capital, with luxury real estate transactions reaching record levels over the past three years. Knight Frank’s research indicates that Dubai has firmly established itself as a leading destination for private capital and family offices, offering a unique combination of tax efficiency, regulatory transparency, and lifestyle advantages.

    Henley & Partners’ Private Wealth Migration Report consistently ranks the UAE as the world’s leading destination for millionaire inflows, a trend expected to continue through 2026. The country’s strategic location between East and West, coupled with its status as a global aviation and financial hub, provides unparalleled connectivity for internationally mobile families and businesses.

    Wealth managers note that clustering around policy-stable jurisdictions is becoming more pronounced, with the UAE standing out for its regulatory clarity and consistency. Full foreign ownership provisions, streamlined business setup processes, and sophisticated financial services infrastructure are encouraging entrepreneurs to shift both personal and corporate bases to the country.

    As geopolitical and fiscal uncertainties persist across traditional wealth centers, the UAE’s rise as a global magnet for capital and talent is projected to accelerate further, reshaping the landscape of international wealth management for years to come.

  • Overseas Filipinos send home record Dh130.76 billion ($35.63 billion) in 2025

    Overseas Filipinos send home record Dh130.76 billion ($35.63 billion) in 2025

    The Philippine economy received a substantial boost as remittances from overseas workers reached unprecedented levels in 2025, according to the Bangko Sentral ng Pilipinas (BSP). The central bank reported that cash transfers from Filipinos working abroad surged to $35.63 billion (Dh130.76 billion), marking a significant 3.3% increase from the $34.49 billion recorded in 2024.

    These financial inflows represent far more than personal support mechanisms—they constitute a critical economic foundation for the nation. Accounting for approximately 7.3% of the country’s gross domestic product, remittances have evolved into both a household income stabilizer and a reinforcement for the Philippines’ foreign currency reserves.

    Geographic analysis reveals the United States as the predominant source of these transfers, contributing 39.7% of total remittances. Singapore followed with 7.3%, while Saudi Arabia and Japan accounted for 6.6% and 5% respectively. The United Arab Emirates and United Kingdom jointly occupied the fifth position, each contributing 4.6% to the overall remittance volume.

    The year-end period demonstrated particularly robust activity, with December 2025 witnessing a 4.2% year-on-year increase, reaching $3.52 billion in single-month transfers. This surge followed the $2.91 billion recorded in November, indicating strengthened financial support during the holiday season.

    This sustained growth pattern underscores the deepening economic interdependence between the Philippine diaspora and their home nation, highlighting how overseas employment continues to function as both individual livelihood strategy and national economic stabilizer.