Global Pulse

分类： business

  • Tim Ayres tight-lipped over China trade threat as steel dumping allegation probed

    Tim Ayres tight-lipped over China trade threat as steel dumping allegation probed

    The Australian government is navigating mounting pressure from its domestic steel industry to implement protective trade measures, while carefully managing the delicate prospect of a renewed trade confrontation with China. Industry Minister Tim Ayres has maintained a reserved public stance regarding potential tariffs and quotas on steel imports, despite urgent calls from manufacturers for intervention.

    The Albanese administration has initiated a formal investigation through the Productivity Commission to examine allegations of steel dumping practices. This probe follows November submissions from the Australian Steel Institute (ASI) requesting temporary emergency ‘safeguard’ provisions under World Trade Organisation regulations. The industry body cited a significant surge in low-priced steel imports that has reportedly forced over a dozen fabrication businesses in western Sydney to cease operations within the past eighteen months.

    According to reports, the proposed measures would establish an import quota of 400,000-450,000 tonnes for fabricated steel, with a substantial 50 percent tariff triggered once this threshold is reached. Minister Ayres emphasized the government’s commitment to supporting domestic manufacturing while distinguishing between general tariff regimes and specific anti-dumping mechanisms.

    In media appearances, Senator Ayres characterized last year’s tariff announcements by the US administration as ‘an unwelcome development,’ while affirming Australia’s intention to maintain a fit-for-purpose anti-dumping system. He acknowledged exercising particular caution regarding specific policy details due to the ongoing investigation, which is expected to continue for several weeks or months.

    The situation develops against a complex backdrop of international trade dynamics, including China’s recent invocation of WTO rules to implement country-specific tariffs and quotas on beef imports, including those from Australia. Ultimately, the decision to implement any safeguard measures would rest with Treasurer Jim Chalmers, following the Productivity Commission’s findings.

  • Eight Square Developers launches Nooré, a boutique residential development in Meydan District 11

    Eight Square Developers launches Nooré, a boutique residential development in Meydan District 11

    Dubai’s dynamic property landscape welcomes a new architectural contender as Eight Square Developers unveils Nooré, its inaugural boutique residential venture in Meydan District 11. This strategic launch signifies the developer’s formal inauguration into the UAE real estate sector, introducing a philosophy prioritizing architectural excellence, intentional design, and sustainable value.

    Inspired by its Arabic namesake meaning ‘light,’ Nooré embodies a design ethos centered on natural illumination. The development’s architectural blueprint maximizes daylight penetration, crafting luminous, proportionally balanced living environments that enhance resident well-being and elevate the domestic experience beyond conventional standards.

    The project distinguishes itself through its boutique, low-rise configuration—a deliberate departure from Dubai’s typical large-scale developments. This approach reflects Eight Square’s conviction that genuine real estate distinction emerges from design superiority rather than monumental scale. Leveraging 47 years of construction proficiency and over 15 years in development, the company integrates profound expertise in quality craftsmanship, structural durability, and market expectations into its UAE debut.

    CEO Shahnawaz Durrani articulated the vision: ‘Nooré represents our redefinition of contemporary luxury, focusing on fundamental elements that genuinely enhance living. True luxury transcends superficial finishes—it embodies spatial harmony, natural light, and environments that enrich daily life while ensuring enduring investor value.’

    Architectural highlights include an exceptional double-height entrance lobby—an unusual feature in low-rise residential projects—establishing an immediate impression of openness and refined aesthetics. Enhanced corridor widths throughout the building further contribute to a hotel-inspired ambiance prioritizing comfort and privacy.

    Investment considerations remain paramount in Nooré’s design strategy. Its boutique orientation, intelligent layout configurations, and resident-centric amenities are projected to sustain market demand, minimize vacancy cycles, and maintain robust rental returns, appealing equally to owner-occupiers and investment purchasers.

    The development’s striking façade—a collaborative creation with award-winning architects—blends Mediterranean influences with Gaudí-inspired elements, accented by natural wood detailing and travertine finishes. This curated material selection ensures architectural timelessness while creating a distinctive presence within Meydan’s evolving streetscape.

    Construction advances according to schedule with preliminary phases completed and structural work progressing under regulatory compliance. The project maintains its targeted Q2 2027 completion timeline.

    Durrani emphasized Dubai’s robust economic fundamentals, ongoing infrastructure expansion, and investor-oriented policies as key catalysts sustaining real estate momentum. Through Nooré, Eight Square Developers aims to establish new benchmarks for boutique residential living in District 11, merging architectural distinctiveness with lifestyle amenities and long-term value preservation.

  • Acube Abodes Realty breaks ground on Altair 52 at Dubai South

    Acube Abodes Realty breaks ground on Altair 52 at Dubai South

    DUBAI, UAE – Acube Abodes Realty has officially broken ground on its latest premium residential venture, Altair 52, situated within the rapidly expanding master community of Dubai South. This ceremonial event signifies the formal initiation of construction activities, underscoring the developer’s dedication to creating high-caliber, meticulously designed residential spaces.

    The project launch arrives during a period of exceptional growth for Dubai’s property sector, which recorded an unprecedented 215,700 sales transactions valued at Dh686.8 billion in the previous year, according to official data from the Dubai Land Department. Market analytics reveal developers delivered 42,784 residential units in 2025, marking a substantial 45% increase from 2024 figures, while new unit launches reached 177,624, representing a 6.1% year-on-year growth.

    Altair 52 emerges as a contemporary residential development characterized by its modern architectural design, space-efficient layouts, and comprehensive lifestyle amenities. Strategically positioned within Dubai South, the project offers exceptional connectivity to major transportation arteries and proximity to Al Maktoum International Airport. Its location provides convenient access to crucial commercial and logistics centers, including the Jebel Ali Free Port and Free Zone, which are poised for increased economic activity.

    The groundbreaking ceremony gathered senior executives from Acube Abodes Realty, project consultants, contracting partners, and key stakeholders, symbolizing a collaborative foundation built on strategic planning and execution excellence.

    Akshay Agarwal, Founder and CEO of Acube Abodes Realty, stated: ‘The commencement of Altair 52 represents a pivotal advancement in our developmental trajectory. Dubai South continues to establish itself as one of Dubai’s most promising destinations, and this project embodies our vision to create value-driven residences that harmonize design excellence, functional practicality, and long-term investment potential.’

    Market indicators suggest Dubai’s property landscape is anticipating approximately 120,000 new home deliveries in 2026, signaling a transition toward a more mature market characterized by enhanced buyer selection and potential price stabilization, though luxury segments maintain their strength.

    Demonstrating remarkable market confidence, master broker Golden Bricks has already secured sales for 70% of Altair 52’s residential inventory. This robust presales performance reflects both consumer trust in Acube Abodes Realty’s development capabilities and Golden Bricks’ formidable market presence and sales efficacy within the premium residential brokerage sector.

    Concurrently, Acube Abodes Realty has announced forthcoming launches of two additional projects – Altair 72 and Altair 92 – within Dubai South. Construction operations are currently progressing, with the developer reaffirming its commitment to timely project delivery, quality assurance, and customer satisfaction. Upon completion in 2027, Altair 52 will introduce 52 meticulously appointed studios, alongside one-, two-, and three-bedroom apartments complemented by extensive lifestyle facilities and amenities.

  • Elon Musk, Ryanair feud rages; airline’s boss dismisses takeover threat

    Elon Musk, Ryanair feud rages; airline’s boss dismisses takeover threat

    A highly publicized corporate dispute between tech billionaire Elon Musk and Ryanair CEO Michael O’Leary has escalated into a full-scale war of words, with the airline executive firmly rejecting Musk’s suggested takeover while acknowledging the controversy has generated unexpected business benefits.

    The clash originated when O’Leary publicly declined to implement Musk’s Starlink satellite internet service across Ryanair’s fleet of over 600 aircraft, prompting the SpaceX founder to label the executive an ‘utter idiot’ in response. Musk subsequently suggested on his social media platform X that he might acquire Europe’s largest airline by passenger numbers and install new leadership.

    At a specially convened press conference in Dublin—promoted by Ryanair as addressing ‘Musk’s latest Twitshit’—O’Leary delivered a pointed rebuttal. While welcoming potential investment from the world’s wealthiest individual, he emphasized that European Union ownership regulations strictly prohibit foreign control of airlines, making any acquisition attempt legally impossible.

    ‘O’Leary challenged Musk’s technical assertions regarding Starlink’s aircraft compatibility, particularly disputing claims that the satellite antennas wouldn’t create aerodynamic drag. Ryanair estimates implementing Starlink would incur approximately $250 million annually in operational costs, including significant additional fuel expenditures.

    Despite the heated exchange, O’Leary revealed the publicity has provided a substantial boost to ticket sales, with bookings increasing 2-3% over the past five days—a statistically significant uplift given Ryanair’s massive passenger volumes. The airline reported particularly strong demand for January-March travel, the final quarter of its fiscal year.

    Market response remained measured, with Ryanair shares gaining 2% on Wednesday but showing minimal overall movement throughout the controversy, indicating investor skepticism regarding Musk’s takeover seriousness. The billionaire has previously used social media polls to gauge public opinion before major business decisions, including his acquisition of Twitter.

    O’Leary disclosed that Ryanair had engaged in twelve months of negotiations with Starlink while evaluating onboard connectivity options. The discussions ultimately stalled due to fundamental disagreements about cost structure and projected customer adoption rates, with the companies holding vastly different expectations about passenger willingness to pay for WiFi services.

  • Arada triples home sales to Dh17.3b as UAE property boom powers record year

    Arada triples home sales to Dh17.3b as UAE property boom powers record year

    Dubai-based master developer Arada has achieved unprecedented growth in 2025, capitalizing on the United Arab Emirates’ thriving real estate market with home sales reaching Dh17.3 billion—triple its previous year’s performance. The company reported selling 5,140 residential units throughout the year, representing a remarkable 199% year-on-year increase from the 2,171 units sold in 2024.

    This extraordinary sales performance generated substantial financial gains, with total revenue surging 170% to Dh6.7 billion. Earnings before interest, depreciation, and amortization (EBITDA) experienced even stronger growth, climbing 174% to Dh1.6 billion. This financial upswing reflects intensified project activity, accelerated absorption rates, and expanding contributions from the company’s diversified portfolio including hospitality, retail, wellness, and entertainment sectors.

    Arada’s success stemmed from several strategic initiatives, including the high-profile launch of Akala in Dubai—promoted as the world’s inaugural precision wellness destination—and the rapid sales of Masaar 2 and Masaar 3 residential communities in Sharjah. The company accelerated its construction pipeline, awarding contracts worth Dh12.7 billion for developments including Madar Mall in Aljada, Armani Beach Residences on Palm Jumeirah, and the Anantara Sharjah Resort and Residences.

    The developer’s record-breaking year mirrors the broader UAE property sector expansion. Dubai Land Department data indicates property sales increased 29% in 2025, exceeding Dh680 billion—the highest annual total recorded. Sharjah demonstrated even more dramatic growth, with transaction values rising 64% year-on-year to Dh65.6 billion according to the Sharjah Real Estate Registration Department. Market analysts attribute this sustained growth to population expansion, business-friendly regulatory reforms, long-term visa programs, infrastructure investments, and continued economic diversification efforts.

    Concurrently, Arada pursued aggressive international expansion, committing Dh2.5 billion to acquire a 75% stake in British developer Regal (rebranded as Arada London) and securing an 80% holding in Thameside West, a mixed-use development in the UK capital. The company also advanced plans for its inaugural Sydney projects following its 2024 Australian market entry.

    Prince Khaled bin Alwaleed bin Talal Al Saud, Arada’s Executive Vice Chairman, stated that the company’s performance demonstrates strong buyer confidence in its long-term vision. Group CEO Ahmed Alkhoshaibi confirmed the company exceeded its Dh15 billion sales target by over 15% and is preparing for another active year with planned project launches across the UAE, UK, and Australian markets.

    Since its establishment in 2017, Arada has launched 11 projects in the UAE and delivered more than 10,000 homes. With a global development pipeline valued at approximately Dh130 billion, the company is currently developing around 55,000 units internationally, positioning itself to benefit from both the UAE’s ongoing real estate expansion and its growing global footprint.

  • Dubai real estate posts strongest year on record as market shifts toward sustainable growth

    Dubai real estate posts strongest year on record as market shifts toward sustainable growth

    Dubai’s property market achieved unprecedented milestones in 2025, registering a historic Dh546.8 billion in residential sales across 202,349 transactions according to Engel & Völkers Middle East’s Annual Market Report. This remarkable performance not only broke previous records but also signaled a fundamental transformation in market dynamics toward sustainable, fundamentals-driven growth.

    The market’s extraordinary expansion was characterized by broadening demand across all property segments and locations. Apartments continued to dominate transaction volumes, comprising 83% of all deals with 167,841 transactions valued at Dh328.5 billion – representing a 31.8% increase from 2024. This growth was fueled by robust off-plan activity alongside sustained demand in established communities, reflecting confidence in Dubai’s ongoing development pipeline.

    Off-plan sales emerged as a particularly significant driver, accounting for 64.8% of all residential transactions. This trend highlighted both persistent investor appetite and constrained availability of ready properties in the secondary market. Engel & Völkers emphasized that secondary market activity remained limited by supply constraints rather than weak demand.

    The villa segment demonstrated substantial growth with total sales value reaching Dh141.2 billion, a 30.5% year-on-year increase. Demand proved especially strong in the Dh4 million to Dh8 million price bracket, with families and long-term investors increasingly committing to new master-planned communities beyond traditional prime neighborhoods.

    Townhouses achieved record transaction volumes with 22,904 deals, increasing 4.6% from 2024, while sales value climbed to Dh74.4 billion. This performance underscored sustained demand for family-oriented housing options amid Dubai’s growing population and evolving lifestyle preferences.

    Dubai’s luxury property market remained exceptionally strong with 6,765 transactions exceeding Dh10 million. Palm Jumeirah maintained its leadership in the ultra-prime segment, while Jumeirah and La Mer consolidated their positions as key luxury hubs. The year witnessed several landmark transactions, including a Dh550 million off-plan penthouse at Bugatti Residences in Business Bay and a Dh425 million villa sale in Emirates Hills.

    Industry executives attributed Dubai’s market success to fundamental strengths including political stability, competitive tax environment, world-class infrastructure, and clear long-term vision. According to Daniel Hadi, Chief Executive of Engel & Völkers Middle East, 2025 represented a defining year that demonstrated both exceptional scale and evolving market maturity.

    Looking forward to 2026, market analysts anticipate a more selective phase characterized by consolidation and differentiated performance across segments. The overall outlook remains positive with expectations of stability, depth, and continued opportunity as growth becomes increasingly driven by sustainable fundamentals rather than transient momentum.

  • Sharjah Islamic Bank proposes 20% cash dividend as it posts net profit of Dh1.3 billion for 2025

    Sharjah Islamic Bank proposes 20% cash dividend as it posts net profit of Dh1.3 billion for 2025

    Sharjah Islamic Bank has demonstrated remarkable financial resilience by announcing a net profit of Dh1.32 billion for fiscal year 2025, representing a substantial 26% increase from the previous year’s Dh1.05 billion. This outstanding performance has prompted the Board of Directors to recommend a generous 20% cash dividend distribution, significantly higher than the 15% payout in 2024, pending shareholder approval at the upcoming General Assembly.

    The bank’s financial expansion was particularly evident in its asset growth, with total assets surging by 14% to reach Dh90.3 billion, compared to Dh79.2 billion at the close of 2024. This robust growth was primarily fueled by a notable 19.6% increase in customer financing, which climbed to Dh45.6 billion from Dh38.1 billion in the preceding year.

    Revenue streams showed impressive diversification as income from Islamic financing investments and sukuk grew by 4.7% to approximately Dh3.9 billion. Meanwhile, net fees and commission income experienced exceptional growth, skyrocketing by 50% to reach Dh598.8 million. This contributed significantly to the bank’s total operating income, which expanded by 14% year-on-year to approximately Dh2.5 billion.

    Despite strategic investments in human capital development and technological infrastructure that pushed general and administrative expenses to Dh897.5 million (a 15.2% increase), the bank maintained strong operational efficiency. Operating income before impairment provisions grew by 13.3% to Dh1.6 billion, underscoring effective cost management practices.

    The institution’s risk management framework yielded substantial improvements, with net impairment on financial assets remaining stable at Dh217.0 million. Notably, the non-performing financing ratio decreased significantly to 3.8% from 4.9%, while the coverage ratio strengthened to 109% from 99.5%, reflecting enhanced portfolio quality.

    Customer deposits reached Dh55.7 billion, resulting in a healthy financing-to-deposit ratio of 81.8%. The bank maintained strong liquidity buffers at 22.3% of total assets, amounting to Dh20.2 billion. Profitability metrics showed consistent improvement, with return on average assets reaching 1.55% and return on average equity climbing to 14.78%.

    In a strategic move to bolster future growth, the Board approved a proposal to increase the bank’s capital, subject to regulatory approvals. This initiative will enable existing shareholders to subscribe to new shares, strengthening the capital base while ensuring compliance with regulatory requirements and supporting sustainable long-term returns.

  • Trump sues JPMorgan for $5bn over account closure after Capitol riot

    Trump sues JPMorgan for $5bn over account closure after Capitol riot

    Former President Donald Trump has initiated a $5 billion legal action against JPMorgan Chase, the United States’ largest financial institution, alleging the bank unlawfully terminated his accounts for politically motivated reasons. The lawsuit, filed in Florida, names both the corporation and its longstanding Chief Executive Jamie Dimon as defendants.

    The legal complaint asserts that JPMorgan Chase inflicted “considerable financial and reputational harm” upon Trump and his business enterprises when it abruptly discontinued their banking relationships in 2021. This action occurred shortly after the January 6th Capitol riot, during which Trump supporters violently disrupted the congressional certification of presidential election results.

    Trump’s legal team contends the account closures represented a “key indicator of a systemic, subversive industry practice that aims to coerce the public to shift and re-align their political views.” The filing specifically alleges the bank acted upon “unsubstantiated, ‘woke’ beliefs that it needed to distance itself from President Trump and his conservative political views.”

    Additionally, the lawsuit accuses JPMorgan of trade libel for allegedly placing Trump’s name and those of his associated businesses and family members on a shared “blacklist” identifying individuals with histories of “malfeasant” activity—a measure reportedly authorized personally by Dimon.

    JPMorgan Chase has vigorously denied these allegations, with a spokesperson stating “the suit has no merit” and emphasizing that “JPMC does not close accounts for political or religious reasons.” The bank clarified that account termination decisions stem from assessments of “legal or regulatory risk for the company,” citing existing “rules and regulatory expectations” that compel such actions.

    The financial institution expressed support for administrative efforts “to prevent the weaponisation of the banking sector” while noting it has petitioned multiple administrations to modify regulations that create these contentious situations.

    This legal confrontation represents the latest escalation in tensions between Trump and Dimon, who has recently criticized several administration policies including proposed credit card regulations, immigration approaches, and posturing toward the Federal Reserve.

    The lawsuit emerges amid broader regulatory scrutiny concerning ‘debanking’ practices. Last month, federal regulators identified nine major banks that had made “inappropriate distinctions” among customers based on business activities, particularly affecting sectors including oil and gas, private prisons, and adult entertainment.

  • Latest addition to Shiziyang Bridge constructions brings main tower above 300 meters

    Latest addition to Shiziyang Bridge constructions brings main tower above 300 meters

    In a significant advancement for regional connectivity, the primary tower of the Shiziyang Bridge has exceeded the 300-meter construction threshold following the successful installation of a critical bridge segment on Thursday. This engineering marvel forms an integral component of the Shiziyang Link initiative within the rapidly developing Guangdong-Hong Kong-Macao Greater Bay Area.

    Project engineers revealed exceptional precision in the construction process, with current alignment measurements registering minimal deviation of under 3 millimeters. According to Zhang Jian, deputy manager of the T8 section at CCCC Second Harbor Engineering, the structure requires only 40 additional meters to achieve its planned summit of 342 meters.

    Upon completion, the monumental tower spanning the Pearl River estuary will approximate the vertical scale of a 110-story skyscraper, as confirmed by the Guangdong Transportation Group. The engineering team employs an innovative assembly technique, constructing each tower leg from 62 massive steel shell segments manufactured to exacting specifications.

    Chief Engineer Zhang Taike provided additional timeline details, indicating the tower is projected to reach its full height around April, with catwalk construction scheduled to commence during the latter half of the year. This infrastructure project represents a critical transportation link designed to enhance economic integration throughout China’s most dynamic regional economic zone.

  • Sharjah property prices not ‘peaked’ yet, set to rise over 10% in 2026

    Sharjah property prices not ‘peaked’ yet, set to rise over 10% in 2026

    Sharjah’s property market is poised for another year of significant growth, with industry executives projecting price increases exceeding 10% throughout 2026. This optimistic outlook emerged during the ACRES 2026 exhibition at Expo Centre, where market leaders identified multiple factors driving the emirate’s sustained real estate expansion.

    The recent legislative reform allowing all nationalities to invest in Sharjah’s real estate market has created unprecedented momentum. Amer Al Zarooni, General Manager of Asas Real Estate Company, confirmed that 2025 delivered record transactions with property values appreciating between 10-12%. He anticipates similar performance this year, projecting approximately 10% capital appreciation driven by dramatically increased foreign investor participation.

    Market stability remains a key differentiator for Sharjah. Unlike more volatile markets, Sharjah’s growth pattern demonstrates logical, steady progression rather than wild fluctuations. Lamia Al Jewaied, Head of Studies and Research Bureau at Sharjah Real Estate Registration Department, emphasized that property prices haven’t yet peaked, indicating continued strong returns for investors.

    Multiple structural advantages support this growth trajectory. The emirate’s central geographic location, family-oriented environment, and inclusive investment policies create a compelling market foundation. Government support through facilitative regulations and project encouragement further strengthens real estate company performance, according to Ali Mohammed Mousa, CEO of North Coast Real Estate.

    Specific market segments show particularly strong momentum. Raymond Khouzami, Vice Chairman of Al Thuriah Group, noted waterfront properties experiencing heightened demand with 2025 price increases reaching 20% in some cases. Construction material costs contributed to these increases, though high demand remains the primary driver.

    The convergence of demographic growth, tourism expansion, and supportive government policies creates ideal conditions for sustained market development. Noreen Nasralla, Senior Vice President for Marketing Strategy and Branding at Alef Group, highlighted market stability as a central government focus that will continue attracting both residents and investors throughout the coming year.