Rocco Forte Hotels, the renowned luxury hospitality brand, is poised to make its Middle Eastern debut with a meticulously curated 60-room hotel in Saudi Arabia’s Red Sea region. Sir Rocco Forte, the brand’s CEO and chairman, revealed that the project is in advanced discussions and is expected to materialize within the next two to three years. This move marks a significant step in the company’s expansion strategy, particularly in the Middle East and North Africa (MENA) region. The hotel will feature serviced villas and apartments, embodying the brand’s philosophy of delivering personalized luxury on a smaller scale. The Gulf Cooperation Council (GCC) region, which accounts for 8-10% of Rocco Forte’s clientele, is a key market for the brand, trailing only the United States and the United Kingdom. The company’s recent partnership with Saudi Arabia’s Public Investment Fund (PIF) has bolstered its financial strength and accelerated its growth trajectory. Forte emphasized the importance of establishing a regional hub in the Middle East, with potential expansions into Egypt, North Africa, and the Maldives. While discussions for properties in the UAE are ongoing, the brand’s model relies heavily on developer partnerships, particularly in high-cost locations like Dubai. Rocco Forte Hotels, currently operating 14 properties across Europe, aims to double its portfolio over the next five years while maintaining its family-led, personalized approach. The brand’s commitment to curated luxury, attention to detail, and intimate guest experiences sets it apart in the competitive luxury hospitality landscape. As the Middle East continues to experience robust economic growth, Rocco Forte’s entry into the region promises to elevate the standard of luxury hospitality, offering a unique blend of elegance and exclusivity.
分类： business
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German government to subsidize industry’s energy prices in bid to revitalize economy
In a decisive move to rejuvenate its sluggish economy, Germany’s governing coalition has agreed to subsidize energy prices for heavy industry over the next three years. Chancellor Friedrich Merz announced on Thursday evening that starting January 1, 2024, companies facing intense international competition will benefit from a reduced electricity price of approximately 5 euro cents (6 U.S. cents) per kilowatt hour, extending through 2028. This initiative aims to alleviate the financial burden on energy-intensive industries and enhance their global competitiveness. Talks with the European Union’s executive commission are nearing completion, with Merz expressing confidence in securing approval for the plan. Germany’s economy, the largest in Europe, has struggled with stagnation for the past two years, with minimal growth recorded. The coalition government, comprising the conservative Merz and the center-left Social Democrats, has prioritized economic revitalization since assuming office in May. Despite these efforts, recent data shows the gross domestic product (GDP) remained stagnant in the third quarter of 2023. Independent economic advisers predict a modest growth of 0.9% in 2024, following a slight 0.2% increase this year. High energy costs, competition from Chinese manufacturers, a shortage of skilled labor, and bureaucratic inefficiencies have further hindered economic progress. To address these challenges, the government has launched a comprehensive investment program, allocating 500 billion euros ($581.4 billion) over the next 12 years to modernize infrastructure, reduce red tape, and accelerate digitization. Economists like Carsten Brzeski of ING have praised the subsidy plan, noting its potential to provide both immediate relief and long-term stability for industries. Holger Lösch, deputy managing director of the Federation of German Industries, emphasized the importance of the subsidized price in maintaining the international competitiveness of energy-intensive companies. Finance Minister Lars Klingbeil estimated the cost of the measure at between 3 and 5 billion euros ($3.4 billion and $5.8 billion). Additionally, the coalition has agreed to reduce a tax on airline tickets starting in July, a long-standing demand of the air transport industry. Both measures will require parliamentary approval.
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Canada’s new budget aims to curb reliance on single market
In a bold move to reshape its economic strategy, Canada has unveiled a comprehensive federal budget aimed at reducing its reliance on the US market. Announced on November 4, 2025, by Prime Minister Mark Carney, the budget allocates over C$25 billion ($17.8 billion) to support industries impacted by US tariffs and trade disruptions, with an additional C$25 billion pledged by 2030 to enhance trade facilitation. The budget underscores Canada’s commitment to forging new economic and security partnerships beyond its southern neighbor. Carney emphasized that the era of deepening economic ties with the US has ended, stating, ‘Many of our former strengths — based on close ties to America — have become our vulnerabilities.’ The budget is seen as a confidence motion, and its failure to pass could trigger an early election, potentially unsettling markets. Economists like Mesbah Fathy Sharaf of the University of Alberta view the budget as a pragmatic response to a more protectionist global trade environment. Sharaf noted, ‘Canada is clearly looking East and West, such as Europe and the Asia-Pacific, for new opportunities.’ The budget also seeks to accelerate domestic economic activity through financial incentives and expedited project approvals. However, critics like Ron Stagg of Toronto Metropolitan University argue that the measures are largely defensive and short-term. Stagg remarked, ‘The government is hoping to increase economic activity within Canada by providing financial incentives and by fast-tracking approval for projects seen as of national importance.’ Despite the uncertainties, the budget signals Canada’s determination to diversify its economic relationships and assert greater independence on the global stage.
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Scholar warns of ‘weaponizing uncertainty’
A year after his election victory, US President Donald Trump’s economic policies are fulfilling campaign promises but are simultaneously weaponizing uncertainty, exacerbating global economic divisions and risks, according to Adam Posen, president of the Peterson Institute for International Economics. Posen described Trump’s approach as consistent yet incoherent, leading to patchwork outcomes that are not economically beneficial. He highlighted Trump’s core agenda, which includes a 15% across-the-board tariff, targeted duties on key industries like semiconductors and autos, and trade barriers that are ‘anti-China, but less anti-China than the hawks in either the Joe Biden administration or the Republicans wanted.’ Posen emphasized that Trump’s policies are characterized by hostility to foreigners, extreme skepticism toward trade and migration, fiscal excess, and the exercise of executive power. He noted that the negative impacts of tariffs and deportations take about a year to fully emerge, as shown by models created by senior fellows at the Peterson Institute. Businesses have faced prolonged uncertainty since the April 1 tariff announcement, with companies like Toyota and Caterpillar considering separate production in China. Despite the administration’s goal of deporting one million people yearly, the economy has not cratered due to ‘underground’ adaptation, with sectors like food processing and construction showing flat output and employment. Posen warned of a ‘stagflationary combination’ ahead, including shortages, inflation, and contraction, unless deportations stop. He also highlighted the role of artificial intelligence investments as an ‘exogenous salvation,’ with tech giants self-financing rapid AI spending from retained earnings, achieving early productivity gains. However, AI alone cannot mask structural issues, as tariff-hit industries will see rising domestic prices and falling output, employment, and growth. Posen’s article in Foreign Affairs noted that firms and governments are abandoning reliance on US ‘insurance’ and are self-insuring through non-dollar assets and localized investment. He also pointed out that US allies like the UK, Japan, South Korea, and Canada are suffering the most, while China has been able to stand up against the US and face Trump down.
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Shanghai a hot hub for addressing intl commercial disputes
Shanghai has solidified its position as a leading global hub for resolving international commercial disputes, according to senior officials from the city’s courts. This development comes as Chinese courts, with Shanghai at the forefront, have been recognized for their fairness and efficiency in handling such cases. The World Bank’s recent business ranking placed Chinese courts second in public recognition and third in perceived fairness among 103 global economies, highlighting Shanghai’s pivotal role in this achievement. Lu Weimin, deputy secretary of the Party leadership group and vice-president of the Shanghai High People’s Court, emphasized the city’s commitment to enhancing the quality and efficiency of foreign-related commercial trials, ensuring equal protection for both domestic and foreign investors. The establishment of the Shanghai International Commercial Court in December 2024 has been a cornerstone of this progress. In the first three quarters of 2025, the court handled 1,600 cases involving foreign commercial disputes and arbitration judicial reviews, with a total disputed amount exceeding 21.5 billion yuan ($3.02 billion). Parties involved in these cases hailed from 39 countries and regions. One notable case involved the efficient resolution of a Mongolian arbitration award application within 39 days, which was recognized as a typical example involving the Belt and Road Initiative by China’s Supreme People’s Court. To bolster its professional adjudication capabilities, the court established an international commercial expert committee, initially appointing 20 high-level experts, including eight from overseas. The Shanghai Maritime Court also reported an increase in cases, with 544 first-instance maritime cases accepted in the first three quarters of 2025, marking a nearly 20 percent increase. In terms of rulemaking, seven cases from Shanghai courts have been included in the official case database of the United Nations Commission on International Trade Law, providing a Chinese model for the accurate application of international conventions. The Shanghai International Commercial Court concluded the country’s first case referencing a document of the UN Convention on Contracts for the International Sale of Goods in February, contributing a Chinese example for the global uniform application of the convention. Additionally, Shanghai courts have excelled in the digitalization of cross-border litigation services, achieving a 100 percent electronic service rate for newly filed cases, with online hearings used in nearly 80 percent of them. The Shanghai Maritime Court explored a mechanism of comprehensive authorization for overseas litigation entities, which has been applied in 400 cases and reduced average processing time by about 30 days and litigation costs by nearly 10,000 yuan per case. Werner Schuppisser, a Swiss national and cofounder of a company bringing Swiss ice cream to Shanghai, shared his positive experience with the Shanghai Jing’an district court, which helped resolve a dispute and saved his company. Schuppisser praised the professionalism, efficiency, and impartiality of the Shanghai judges, which he believes provides a business environment that allows his firm to continue to grow.
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Hindujas to shift EV-bus plant to Ras Al Khaimah from UK
In a strategic move that underscores the UAE’s growing prominence in the global electric vehicle (EV) industry, the Hinduja Group’s Switch Mobility, the EV-bus division of India’s Ashok Leyland, is shifting its production base from the UK to Ras Al Khaimah (RAK). This relocation marks the first large-scale, dedicated manufacturing shift by a global EV bus company into the UAE, positioning the country as a hub for production and export. The decision reflects the emirate’s cost-efficient manufacturing ecosystem, regional market access, and ambition to serve Europe, the UK, and the GCC. The UK facility in Sherburn, deemed economically unviable, will be replaced by an upgraded RAK plant, with an investment of under $3 million. Ashok Leyland’s existing RAK facility, operational since 2008, has produced over 25,500 buses and sources over 55% of its parts locally. The upgrade for EV bus production transforms the plant into a regional manufacturing hub for high-voltage electric buses. For the Hinduja Group and Ashok Leyland, this move is a significant step in their global EV strategy, enabling cost reduction, streamlined logistics, and access to the UAE’s business-friendly environment. The UAE’s industrial policy and investment incentives align with manufacturers seeking logistics advantages into Europe, Africa, and Asia. While the UAE already manufactures EV parts and related technologies, this relocation is a rare instance of a global bus-maker shifting full production into the emirate. Trial runs of the buses are expected in the UAE and Saudi Arabia by summer 2025, with a commercial rollout in the GCC by Q4 2025. The shift also strengthens supply-chain linkages, with components flowing from India and beyond, turning the RAK facility into an integrated production node. This transition signals the UAE’s industrial pivot into sustainable mobility and advanced manufacturing, while the Hinduja Group moves from import-centric operations to locally grounded manufacturing with global reach. For Ashok Leyland, it consolidates its role as a global EV-bus player with production capabilities in India, the UK, and soon the UAE. The move also positions Switch Mobility to win large fleet contracts across the Gulf as regional governments accelerate the adoption of electric public transport vehicles.
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UAE’s creator economy emerges as entrepreneurial powerhouse
The United Arab Emirates (UAE) is witnessing a transformative shift in its creator economy, with content creators increasingly adopting entrepreneurial roles. A recent report by Visa, unveiled at Web Summit 2025, highlights this evolution, revealing that about one-third of UAE creators have launched new ventures following their content success. This underscores a robust entrepreneurial mindset within the region. The report, titled ‘Monetized: 2025 Creator Report,’ conducted in collaboration with Morning Consult, surveyed over 1,000 TikTok creators across five regions, including the UAE. It emphasizes a global trend where creators are transitioning from influencers to small business owners, driving commerce and community engagement. In the UAE, this trend is particularly pronounced, with most creators expressing confidence in the sector’s long-term viability and having clear plans for future expansion. Despite their ambitions, many UAE creators face financial challenges, relying on personal funds and credit cards to finance their work. Over 35% use secondary personal accounts to separate expenses, indicating a lack of dedicated business banking tools tailored for creators. Payment delays also remain a significant issue, with 42% receiving payments within a week, but late settlements often disrupting cash flow. Interestingly, UAE creators exhibit one of the highest levels of financial confidence globally, with 61% expressing optimism about managing their finances. However, their strong interest in financial education suggests a gap in specialized training that could help creators scale effectively. To address these challenges, Visa announced a pilot program in partnership with Karat Financial, a fintech firm specializing in creator-focused banking solutions. Initially launching in the US, the program aims to provide creators with credit cards and business banking services designed around their unique revenue models. Features under consideration include automated payment tracking, invoice reminders, and fraud-prevention tools. While the pilot will start in the US, Visa plans to gauge regional interest and expand to other markets, potentially including the UAE, by FY27. This move builds on Visa’s 2024 commitment to recognize creators as small businesses and provide them with the same financial tools available to traditional enterprises. The UAE’s creator economy is poised for significant growth, driven by high digital adoption, strong entrepreneurial spirit, and increasing brand collaborations. However, unlocking its full potential will require tailored financial solutions, faster payment systems, and educational resources that empower creators to manage their businesses with confidence. Visa’s latest initiatives—and its research-driven approach—signal a broader industry shift: the creator economy is no longer a niche; it’s a cornerstone of modern commerce. For UAE creators, the next chapter could be defined by how quickly financial ecosystems adapt to their needs.
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Mbank and East & West International Group lead the future of real estate payments with AE Coin
In a groundbreaking move, Al Maryah Community Bank (Mbank), the UAE’s first fully integrated digital bank, has partnered with East & West International Group (EWIG) to introduce AE Coin as a payment solution for real estate transactions. This collaboration signifies a transformative step in the practical application of blockchain technology within the real estate sector, offering buyers and tenants a secure, instant, and cost-effective payment method. AE Coin, the UAE’s first AED-backed stablecoin regulated by the Central Bank of the UAE, is now accessible through the AEC Wallet, powered by Mbank. This initiative underscores EWIG’s leadership in the UAE real estate market by pioneering blockchain-powered payments. The partnership aims to enhance transaction efficiency, transparency, and compliance within a regulated ecosystem. Dr. Hussein Abdelqader Harhara, General Manager of EWIG, emphasized the Group’s commitment to innovation and alignment with the UAE’s vision for a digital economy. Mohammed Wassim Khayata, CEO of Mbank, highlighted the collaboration as a milestone in accelerating blockchain adoption in high-value use cases. Ramez Rafeek, General Manager of AED Stablecoin, noted that this initiative marks the beginning of real-world blockchain adoption in real estate. The AEC Wallet is now available on iOS, Android, and AppGallery, enabling verified users to make instant payments for property transactions, rent, and other real estate services. This integration ensures seamless, real-time settlements within the UAE’s first regulated digital currency framework.
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Holcim UAE accelerates sustainable construction drive amid market expansion
Holcim UAE, formerly known as Lafarge Emirates Cement, is spearheading a transformative journey in the United Arab Emirates, focusing on sustainability, innovation, and strategic expansion. The recent rebranding aligns with Holcim Group’s global NextGen Growth 2030 strategy and the UAE’s Net Zero 2050 vision. Ali Said, CEO of Holcim UAE, emphasized that the rebranding is a platform to accelerate innovation, deepen partnerships, and advance sustainability in the construction industry. The company is the only fully integrated player in the market, managing the entire value chain from its quarry in Fujairah to job sites in Dubai, enabling significant carbon footprint reduction and the development of advanced low-carbon mixes. Holcim’s flagship products, EcoPlanet and ECOPact, reduce CO₂ emissions by at least 30%, with potential reductions of up to 70% depending on project specifications. The company is also pioneering thermal insulation concrete and exploring 3D concrete printing technology. Holcim’s commitment to sustainable construction is evident in landmark UAE projects such as Al Shera’a – DEWA Headquarters, Zuhha Island, and Etihad Rail. The company plans to expand into Abu Dhabi and Dubai South while enhancing its Fujairah plant to produce near-zero building materials. Holcim UAE is tackling emissions across all scopes, using alternative fuels, waste heat recovery systems, and partnering with Etihad Rail to reduce transport emissions. One of its most ambitious projects is a carbon capture and mineralization initiative with climate-tech firm 44.01, leveraging Fujairah’s ultramafic rock formations to permanently store CO₂. The pilot is underway, with plans to scale significantly by 2030. Holcim sees robust demand for sustainable materials as awareness grows among developers and consultants. The UAE’s visionary leadership and sustainability agenda align perfectly with Holcim’s global roadmap, positioning the company to shape a smarter, more circular, and more sustainable built environment.
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AFM Holding bets on tech and sustainability for next growth phase
AFM Holding Group, a diversified conglomerate with roots in IT solutions since 2000, is steering its next growth phase with a focus on technology-driven innovation and sustainable expansion. Founder and Chairman Maqsood Mohommad emphasized that technology is the core of AFM’s operations, stating, “Innovation isn’t a department—it’s part of our DNA.” The group has evolved into sectors such as intelligent transportation systems, renewable energy, real estate, and retail, leveraging advanced technologies like AI, automation, blockchain, and clean energy solutions. Mohommad highlighted the importance of investing in people, fostering teams that think creatively and challenge norms to keep AFM agile and future-ready. The year 2025 has been pivotal for AFM, marked by the expansion of its real estate portfolio, scaling of renewable energy ventures under its Geo Power brand, and entry into the retail space with new brands Miruna and Funky Souq. These initiatives are part of the unified strategy branded as One AFM. One Vision. One Plan. The renewable energy arm is accelerating projects aligned with the UAE’s clean energy goals, reinforcing AFM’s commitment to environmental responsibility. Looking ahead, AFM aims to deepen its real estate footprint, accelerate renewable energy investments, and scale digital and retail ventures, creating a connected ecosystem powered by technology. Talent development remains a priority, with investments in leadership that embodies integrity, innovation, and long-term thinking. Mohommad advised aspiring entrepreneurs to start with passion, embrace technology early, and build strong teams, emphasizing that diversification should align with shared values and long-term goals.