分类： business

Gold prices in Dubai are projected to surge to Dh550 per gram in the coming months, according to market experts. Despite a recent decline, the precious metal has experienced a remarkable rally this year, with prices soaring over 60% year-to-date. Jewellers and analysts remain optimistic about gold’s long-term prospects, citing strong demand from Asia, central bank purchases, and ongoing geopolitical tensions as key drivers. However, they caution that the market could witness significant fluctuations due to volatile global conditions, including trade wars and geopolitical uncertainties. On October 24, 24K gold was trading at Dh494.75 per gram in Dubai, down from a record high of Dh525 earlier this month. Experts attribute this dip to profit-taking and a temporary easing of geopolitical tensions. Varun Bafna, co-founder of Amari Capital, predicts gold will trade between Dh485 and Dh525 per gram in the next quarter, with a potential rebound to Dh540–Dh550 by early 2026 if US interest rate cuts materialise and global tensions persist. Anuraag Sinha, managing director of Liali Jewellery, notes that gold’s structural support remains intact, particularly as a hedge against inflation and macroeconomic stress. Meanwhile, Vijay Valecha, chief investment officer at Century Financial, warns of potential wild swings in gold prices, driven by heightened market volatility. Despite short-term fluctuations, the long-term outlook for gold remains bullish, supported by robust demand from both central banks and private investors.

In an unprecedented move, Iran has declared Ayandeh Bank, one of its largest private financial institutions, bankrupt. The announcement, made on Saturday, marks a significant development in a country already grappling with severe international sanctions. Established in 2012, Ayandeh Bank boasted an extensive network of 270 branches nationwide, including 150 in Tehran alone. However, the bank had been struggling with mounting debts, with accumulated losses reaching approximately $5.2 billion and liabilities of around $2.9 billion, as reported by the ISNA news agency. The state-owned Melli Bank has now absorbed Ayandeh Bank’s assets following a directive from the Central Bank of Iran, which has assured depositors of the safety of their savings. ‘The transfer from Ayandeh Bank to Melli Bank is now complete,’ stated Melli Bank director Abolfazl Najarzadeh on state television. The bankruptcy was attributed to ‘bad debts,’ with over 90% of the bank’s funds reportedly allocated to related parties or internal projects that failed to generate returns, according to Hamidreza Ghaniabadi, an official at the Central Bank of Iran. Ayandeh Bank had been involved in ambitious ventures such as the Iran Mall shopping complex in Tehran, which features an ice rink and cinemas. The collapse of Ayandeh Bank is not an isolated incident, as five other Iranian banks—Sarmayeh, Day, Sepah, Iran Zamin, and Melal—are also facing financial difficulties. This development comes amid renewed international sanctions on Iran, reimposed by the United Nations in September after the breakdown of nuclear talks earlier this year. The sanctions, a ‘snapback’ of measures previously frozen under the 2015 nuclear deal, have further strained Iran’s economy, which has been under pressure since the U.S. withdrew from the agreement in 2018.

Abu Dhabi has embarked on a groundbreaking initiative to address one of the most persistent challenges in renewable energy: its intermittent nature. The emirate has launched the world’s first gigascale project capable of delivering continuous baseload power solely from renewable sources. This Dh22-billion facility, set to become operational by 2027, will generate one gigawatt of clean electricity, enough to power hundreds of thousands of homes. The project pairs advanced solar technology with the world’s largest battery storage system, spanning an area comparable to Manhattan and featuring a 19-gigawatt-hour battery. This system will store energy generated during peak sunlight and dispatch it seamlessly through the night and during cloudy days, ensuring uninterrupted power supply regardless of weather conditions. The project, developed by Masdar and Emirates Water and Electricity Company, aligns with the UAE’s vision to decarbonize and innovate. It is expected to create over 10,000 jobs and establish new manufacturing facilities across the UAE. Upon completion, the facility will avoid approximately 5.7 million tonnes of carbon emissions annually, equivalent to removing over one million cars from the road. This initiative represents a significant leap forward in renewable energy, proving that continuous, reliable power from solar and wind is achievable. It also underscores the UAE’s leadership in global renewable energy development, with Masdar targeting 100 gigawatts of clean energy capacity by 2030.

The 2025 China Mining Conference and Exhibition, held in Tianjin, has solidified China’s role as a pivotal center for global mining collaboration. Delegates from Africa and other regions underscored a partnership model that transcends mere financial investment, focusing instead on sustainable and mutually beneficial development. The event brought together representatives from nearly 500 enterprises across 42 countries, who engaged in discussions on high-quality cooperation projects and cutting-edge mining technologies, aiming to unlock new opportunities for international collaboration. Che Changbo, secretary-general of the China Mining Association, highlighted the evolving global mining landscape, particularly in the context of China’s Belt and Road Initiative. He noted the deep integration between Chinese mining companies and resource-rich countries like the Democratic Republic of the Congo, which has ambitious development plans. Henrietta B. Rushwaya from the Zimbabwe Miners Federation emphasized the potential of partnering with Chinese companies, citing Zimbabwe’s vast mineral resources and the need for modern exploration equipment. The conference not only showcased China’s leadership in the mining sector but also reinforced the importance of international cooperation in driving innovation and sustainable development in the industry.

The MENA Investment Congress (MENA ICON 2025), organized by CFA Society Emirates, successfully concluded in Abu Dhabi this month, setting a new benchmark for attendance and impact. Over 400 investment professionals, policymakers, and industry leaders from across the globe gathered for two days of insightful discussions, thought leadership, and networking. This year’s event was the largest and most influential edition to date, featuring a stellar lineup of speakers who explored key themes shaping the future of finance, including artificial intelligence, innovation, private capital, and global macroeconomics.

A highlight of the congress was a special recorded address by Hamad Al Mazrouei, Chairman of ADGM Academy and Undersecretary of the Abu Dhabi Department of Economic Development. His inspiring message, broadcast online, highlighted Abu Dhabi’s leadership in driving innovation, talent development, and sustainable growth within the region’s financial ecosystem. This address added significant prestige and institutional backing to the event.

The congress culminated in a headline session featuring Ray Dalio, founder of Bridgewater Associates and Dalio Family Office. His fireside chat on global economic cycles, market resilience, and long-term investing captivated the audience and left a lasting impression. Other notable speakers included Eric Sim, Lynn Raebsamen, Dr. Aliya Babul, and Brian Corish, among others, who shared diverse perspectives on investment, technology, and innovation.

A central theme throughout the sessions was the transformative impact of artificial intelligence on investment strategies, risk management, and financial advisory practices. Discussions also focused on the evolving landscape of private capital, venture investing, and family offices, underscoring MENA’s growing prominence as a global investment hub.

William Tohme, CFA, President of CFA Society Emirates, remarked, ‘MENA ICON 2025 was more than a conference. It was a meeting of minds dedicated to shaping the future of finance. We are proud to have brought together such an extraordinary community of thought leaders, investors, and policymakers, and we thank all our partners and participants for making this edition truly exceptional.’

In a significant move to strengthen bilateral economic relations, delegations from China and the United States commenced high-level economic and trade talks in Kuala Lumpur on Saturday. The discussions, led by Chinese Vice-Premier He Lifeng, who is also a member of the Political Bureau of the Communist Party of China Central Committee, aim to address key issues in the economic and trade relationship between the two nations. The talks are based on the important consensus reached by the heads of state of China and the US during their phone conversations earlier this year, as stated by a spokesperson for China’s Ministry of Commerce. This meeting underscores the ongoing efforts by both countries to navigate complex economic challenges and foster mutual cooperation in trade and commerce. The outcome of these talks is anticipated to have a profound impact on global economic stability and the future trajectory of Sino-US relations.

In a significant development for global trade relations, China and the United States are set to initiate a new round of trade discussions in Kuala Lumpur, Malaysia, this Saturday. The talks come at a crucial juncture as both nations seek to address longstanding trade disputes and explore avenues for economic collaboration. Journalists are stationed at the venue to provide real-time updates as the negotiations unfold. This meeting is expected to build on previous dialogues, with a focus on reducing tariffs, enhancing market access, and fostering mutual economic growth. The choice of Kuala Lumpur as the venue underscores Malaysia’s growing role as a neutral and strategic hub for international diplomacy. The outcome of these talks could have far-reaching implications for global trade dynamics, particularly in the context of ongoing geopolitical tensions and economic uncertainties.

The international community is closely monitoring the latest round of economic and trade discussions between China and the United States, set to unfold in Kuala Lumpur, Malaysia, this weekend. The talks come at a critical juncture as the US continues to enforce unilateral tariff policies, sparking widespread debate and concern. Local Malaysians and tourists alike have voiced their opinions on the matter, expressing hope for a resolution that fosters global economic stability. The outcome of these consultations is anticipated to have far-reaching implications for international trade dynamics. As the two economic powerhouses engage in dialogue, the world awaits potential shifts in trade policies that could either alleviate or exacerbate existing tensions. The meeting also underscores the importance of bilateral cooperation in addressing global economic challenges, particularly in the wake of recent trade disputes and their ripple effects on various industries worldwide.