Leveraging the spillover effect of the China International Import Expo (CIIE), Baihe Town in Shanghai’s Qingpu District has successfully launched the Hongqiao Cross-Border E-Commerce and Industrial Belt Pilot Zone. This innovative zone integrates streamlined business services with a cutting-edge digital warehouse-port-distribution system, significantly enhancing logistics efficiency. While the primary focus remains on export activities, the zone is also actively collaborating with international exhibitors to explore import opportunities. This dual approach aims to support businesses in achieving global expansion and fostering international trade partnerships. The initiative underscores Shanghai’s commitment to advancing its e-commerce infrastructure and strengthening its position as a global trade hub.
分类： business
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HSBC to take $1.1 billion hit after Luxembourg court ruling in Madoff case
HSBC Holdings announced on Monday that it will record a $1.1 billion provision in its third-quarter financial results following a partial loss in a Luxembourg court appeal related to Bernard Madoff’s infamous Ponzi scheme. The bank, which served as a service provider to several funds invested in Madoff’s fraudulent operations, faced a lawsuit from Herald Fund SPC in 2009 seeking restitution for assets lost in the scheme. Last Friday, the Luxembourg Court of Cassation rejected HSBC’s appeal regarding securities restitution but accepted its appeal on a separate cash restitution claim. HSBC plans to file a second appeal with the Luxembourg Court of Appeal and, if unsuccessful, will contest the amount to be paid. The bank cautioned that the final financial impact could differ significantly from its current estimate. HSBC, Europe’s largest bank by assets, disclosed in July that Herald Fund, now in liquidation, sought restitution of securities and cash worth $2.5 billion plus interest or damages of $5.6 billion plus interest. The provision is expected to impact HSBC’s common equity tier 1 (CET1) capital ratio by approximately 15 basis points, adding to the 125 basis points impact from its $13.6 billion acquisition of Hang Seng Bank. Analysts suggest the charge may slightly dampen investor sentiment but note the impact is limited due to HSBC’s suspension of dividend payments for the next three quarters. HSBC’s Hong Kong-listed shares remained flat in morning trading, underperforming the 1% rise in the Hang Seng Index. Madoff’s Ponzi scheme, one of the largest financial frauds in history, was estimated at $64.8 billion and remained undetected for years until his confession in December 2008. Madoff died in April 2021 while serving a 150-year prison sentence. HSBC previously settled with Kalix Fund in 2012 for an undisclosed amount over losses tied to Madoff’s collapse.
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Pakistan central bank holds interest rate at 11% for fourth time in a row
The State Bank of Pakistan (SBP) has decided to keep its benchmark interest rate unchanged at 11% for the fourth consecutive time, signaling confidence in the country’s economic recovery. This decision, announced on Monday, comes as recent floods had a less severe impact on crops than initially feared, while inflation, growth, and foreign exchange reserves continue to show positive trends. The central bank emphasized that its policy aims to sustain price stability, with earlier rate reductions still influencing the economy. Analysts unanimously anticipated the rate hold, reflecting broader optimism about Pakistan’s macroeconomic conditions. The SBP revised its GDP growth forecast for fiscal year 2026 to the upper half of its earlier 3.25–4.25% range, citing improved crop yields, industrial activity, and high-frequency indicators. However, inflation is expected to remain above the 5–7% target range for the next few months before stabilizing within it in the following fiscal year. Risks such as volatile global commodity prices, energy price adjustments, and uncertainties around food prices were highlighted. The bank also noted that post-flood rehabilitation spending is likely to be managed within budgeted resources, urging fiscal discipline to ensure long-term sustainability. Foreign exchange reserves are projected to rise to $15.5 billion by December 2025 and $17.8 billion by June 2026, supported by official inflows. Since peaking at 22% in June 2024, the SBP has reduced rates by 1,100 basis points, with the last cut in May.
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SAMANA Developers unveils SAMANA Hills South 3 after extraordinary sells out of SAMANA Hills South 1 & 2
SAMANA Developers, a renowned Dubai-based real estate firm, has announced the launch of its latest residential project, SAMANA Hills South 3. This new development, located in the rapidly growing Dubai South district, will offer 147 high-quality units, catering to international investors seeking secure assets near one of Dubai’s key economic zones. The project follows the successful sellout of its predecessors, SAMANA Hills South 1 & 2, solidifying the developer’s reputation as a leading off-plan developer in the region. Spanning 95,195.92 square feet, the development features a mix of studio, one-bedroom, and two-bedroom apartments, with starting prices from Dh639,000. The estimated handover is set for October 2028, providing a clear timeline for capital appreciation. Imran Farooq, CEO of SAMANA Developers, highlighted Dubai’s robust real estate market, citing Dh54.3 billion in sales last month. He emphasized the strategic location of SAMANA Hills South 3, which benefits from the expansion of Al Maktoum International Airport and nearby business hubs. The project is designed as a resort-style sanctuary, offering over 30 luxury amenities, including an Aqua Gym and Spa, Wellness Lounge, swimming pool, and Outdoor Cinema. With its investor-friendly payment plans and prime location, SAMANA Hills South 3 is poised to attract significant interest from both local and international buyers.
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ADCB posts strong Q3 earnings, launches AI transformation to drive future growth
Abu Dhabi Commercial Bank (ADCB) has announced impressive financial results for the third quarter of 2025, with a net profit of Dh3.09 billion, reflecting a 29% year-on-year increase. The bank’s profit before tax also rose by 18% to Dh3.17 billion. Over the nine-month period, ADCB achieved a net profit of Dh8.1 billion, an 18% increase compared to the same period in 2024. This strong performance was driven by a 25% year-on-year growth in operating income, which reached Dh5.88 billion for Q3. Non-interest income surged by 32% to Dh2.07 billion, while net interest income grew by 21% to Dh3.81 billion. The bank’s cost-to-income ratio improved significantly to 27.6%, attributed to digital automation and operational efficiencies. ADCB’s balance sheet remained robust, with total assets increasing by 17% to Dh744 billion. Net loans grew by 17% to Dh401 billion, and customer deposits rose by 19% to Dh482 billion, supported by a 27% increase in current and savings account (CASA) deposits. The bank’s capital adequacy ratio stood at 16%, with a Common Equity Tier 1 (CET1) ratio of 12.7%. The non-performing loan (NPL) ratio improved to a record low of 1.86%, while provision coverage increased to 187.3%. In a strategic move to bolster future growth, ADCB launched an AI transformation program aimed at unlocking Dh4 billion in financial value through enhanced revenue, cost efficiencies, and risk management. The initiative will also improve customer experience, fraud detection, and cybersecurity. ADCB’s retail and corporate banking divisions continued to perform strongly, with retail banking adding over 80,000 new customers in Q3, 67% of whom were acquired digitally. CASA deposits in retail rose by Dh18 billion year-on-year, while Islamic financing accounted for 59% of new loan acquisitions. Corporate and investment banking expanded its international footprint, with loans outside the UAE rising by 35% year-to-date. ADCB also announced a rights issue to raise up to Dh6.1 billion, with Mubadala Investment Company PJSC, the bank’s majority shareholder, confirming full participation. ADCB Egypt contributed significantly to the group’s performance, posting a net profit of EGP 3.86 billion for the first nine months of 2025, a 31% year-on-year increase, with loan growth of 50%. The bank’s commitment to sustainability and national priorities was highlighted in its 2025 Green Bond Report, which showed a 19% increase in its Eligible Green Loan Portfolio. ADCB also received the Nafis Diamond Award for its Emiratisation efforts, with UAE nationals comprising 40% of its workforce and 98% of branch managers. Looking ahead, ADCB remains focused on its five-year strategy to double net profit to Dh20 billion, targeting a return on equity of around 15% for the full year. With continued investment in digital and AI capabilities, the bank is positioning itself as a data-led institution ready to deliver long-term value for shareholders and contribute to the UAE’s dynamic economy.
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Buybacks take backseat as AI drives record US capex spending
In a significant shift in corporate priorities, U.S. companies are increasingly diverting capital from traditional shareholder payouts like dividends and buybacks to fund artificial intelligence (AI) innovation. This trend reflects a growing recognition among investors that long-term growth, driven by AI, is more critical than immediate profits. Goldman Sachs has revised its forecast for U.S. share buyback growth down to 9% from 12%, anticipating that AI-driven investments will dominate corporate spending well into 2026.
Capital expenditure plans by S&P 500 companies have surged to a record $1.2 trillion in 2025, the highest since Trivariate Research began tracking the data in 1999. The top nine companies alone account for nearly 30% of this spending. Despite record shareholder returns of $1.65 trillion in the 12 months ending June 2025, including $653.86 billion in dividends and $997.82 billion in buybacks, investors are prioritizing companies with robust AI strategies.
Tech giants like Alphabet, Meta, Microsoft, and Oracle have seen double-digit stock price gains this year, outpacing broader market performance. In contrast, Apple, despite leading in capital returns, has lagged due to concerns over its AI innovation efforts. The AI investment wave is not limited to Silicon Valley, with sectors such as banking, healthcare, and consumer staples also embracing the technology. JPMorgan Chase, for instance, is investing $2 billion annually in AI development, while companies like Northrop Grumman and Lockheed Martin are integrating AI into defense systems.
While analysts remain cautious about labeling the current AI boom a bubble, many warn that the trend could face challenges as companies increasingly rely on debt and complex deal-making. Lisa Shalett, Chief Investment Officer at Morgan Stanley Wealth Management, predicts that by the second half of 2026, investors may begin questioning whether the promise of AI is fully priced into the market.
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Amazon says India’s e-commerce exports top $20 billion, despite US tariffs
Amazon announced on Monday that Indian sellers on its platform have collectively surpassed $20 billion in e-commerce exports, including nearly $7 billion in 2025 alone. This milestone comes despite the imposition of new U.S. tariffs on certain Indian goods, which doubled to 50% in August. The tariffs, a response to India’s oil purchases from Russia, have posed short-term challenges for thousands of Indian artisans and small businesses. However, Amazon remains optimistic about long-term growth, setting an ambitious target of $80 billion in exports by 2030. The company’s Global Selling program, launched in 2015, has enabled over 200,000 Indian sellers across 200 cities to reach customers in 18 global markets, including the U.S., Britain, Germany, and Canada. Smaller cities like Panipat, Bhadohi, Karur, and Erode have emerged as significant contributors, with exports from these regions growing rapidly. Categories such as health, beauty, home, apparel, and toys have seen annual growth exceeding 35%. Amazon’s head of Global Selling India, Srinidhi Kalvapudi, emphasized the structural nature of this growth, stating that e-commerce exports are still in their early stages. India’s 2023 trade policy and simplified e-commerce export rules by the Reserve Bank of India have further supported this expansion, positioning Indian brands for global success.
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Aster DM Healthcare eyes top-tier status in India with aggressive expansion and strategic merger
Aster DM Healthcare is making significant strides to secure a top-tier position in India’s healthcare sector through an aggressive expansion strategy and a landmark merger. Backed by a substantial investment of Rs26 billion, the company has already allocated Rs4 billion toward infrastructure development and facility upgrades. This initiative is part of a broader plan to increase its bed capacity from the current 5,199 to over 7,800 in the coming years, with a notable presence in Andhra Pradesh, where it operates 889 beds.
Financially, Aster India has demonstrated robust growth, achieving a 20% compound annual growth rate (CAGR) in revenues over the past five years, culminating in Rs41.38 billion in FY25. Operating EBITDA has grown even more impressively, surging at a 38% CAGR to Rs8.06 billion during the same period, reflecting operational efficiency and increasing patient volumes.
Aster’s strategic ambitions are further highlighted by its merger with Quality Care India Limited (QCIL), announced in November 2024. This merger, pending regulatory approvals, is set to consolidate Aster’s position as one of the top three hospital operators in India by capacity. Post-merger, the combined entity aims to scale up to over 14,190 beds, significantly expanding its reach across tier-1 and tier-2 cities.
Dr. Azad Moopen, Founder Chairman of Aster DM Healthcare, and Alisha Moopen, MD & Group CEO, recently met with Andhra Pradesh Chief Minister N. Chandrababu Naidu during his UAE visit to discuss investment plans and healthcare opportunities in the state. Dr. Moopen emphasized the company’s dual focus on infrastructure and innovation, stating, ‘Our goal is not just to expand but to transform healthcare delivery through technology and strategic partnerships.’
With a clear growth roadmap, strong financial performance, and a transformative merger on the horizon, Aster DM Healthcare is well-positioned to become a dominant force in India’s healthcare landscape.
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Abu Dhabi-based Titian acquires stake in Swedish biotech firm
Abu Dhabi-based Titian Capital, through one of its group companies, has acquired a significant stake in Swedish biotechnology firm Cellcolabs AB. This strategic investment aims to bolster Cellcolabs’ technical development, expand its global presence, and enhance its scientific workforce. While financial specifics remain undisclosed, the partnership underscores Titian’s commitment to advancing regenerative medicine and cellular therapies. Cellcolabs specializes in the large-scale production of mesenchymal stem cells (MSCs), derived from healthy donors’ bone marrow, and leverages over two decades of research from Stockholm’s Karolinska Institute. Its products are utilized by academic institutions and biotech firms developing treatments for inflammatory, degenerative, and immune-related conditions. Kayaan Unwalla, Managing Director of Titian Capital, emphasized the transformative potential of stem cell technologies in improving patient outcomes. Dr. Mattias Bernow, CEO of Cellcolabs, highlighted the partnership’s role in accelerating the transition of stem cell therapies from research labs to clinical applications. Titian Capital, a UAE-based private family office, has diverse interests in life sciences, AI, digital advertising, and infrastructure, further solidifying its position as a key player in global innovation.
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ICAP’s CFO conference in Dubai focuses on financial leadership through agility and innovation
The Institute of Chartered Accountants of Pakistan (ICAP) hosted its 5th CFO Conference Middle East 2025 in Dubai, uniting global finance leaders, policymakers, and industry innovators. Held under the theme “Quantum Leap: Agility & Competitive Edge,” the event underscored the transformative role of agility, innovation, and sustainability in reshaping financial leadership across borders. With over 500 executives in attendance, the conference reinforced ICAP’s mission to foster a resilient, technology-driven, and globally interconnected finance community. Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, delivered a keynote address on the UAE and GCC’s roadmap for transformative growth, emphasizing economic diversification and innovation. ICAP President Saif Ullah highlighted the critical role of CFOs in navigating disruption and driving innovation in an increasingly complex business environment. Khurram Schehzad, Advisor to Pakistan’s Finance Minister, stressed the importance of strategic financial agility and data-driven policymaking to enhance economic resilience. The event featured panel discussions on topics such as inclusive finance, capital market agility, and the integration of sustainability and technology in next-gen finance leadership. Jean Bouquot, President of IFAC, emphasized the need for continuous upskilling among finance professionals to remain relevant in a rapidly evolving landscape. The conference concluded with acknowledgments to sponsors and participants, including Platinum Sponsors Mashreq Bank and Abu Dhabi Securities Exchange, for their pivotal support in making the event a success.