Guangzhou Baiyun International Airport has officially launched its state-of-the-art Terminal 3 and a fifth runway, marking a significant milestone in its expansion efforts. The new facilities, which began operations on Thursday, solidify the airport’s status as one of the world’s busiest aviation hubs. With the addition of Terminal 3 and the new runway, the airport now boasts three terminals and five runways, significantly enhancing its operational capacity. The upgrades increase the airport’s annual passenger handling capacity to 140 million and its cargo capacity to 6 million metric tons. Officials emphasized that these developments are crucial to meeting the escalating travel demands within the Guangdong-Hong Kong-Macao Greater Bay Area, which already sees an annual passenger volume exceeding 120 million. The expansion is expected to further strengthen the region’s connectivity and economic growth, positioning the airport as a key player in global aviation.
分类： business
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Dubai: Gold prices hold steady, 24K sees slight rise to Dh479
In the wake of the US Federal Reserve’s second consecutive quarter-point interest rate reduction, gold prices in Dubai remained steady, with 24K gold experiencing a slight increase to Dh479 per gram on Thursday morning, up from Dh476 the previous day. This stability follows a week of market volatility after gold reached record highs on October 20. Globally, spot gold prices were recorded at $3952.79 per ounce, while silver stood at $47.52 at 9:30 AM UAE time. Other gold variants in Dubai, including 22K, 21K, and 18K, were priced at Dh443.50, Dh425.25, and Dh364.25 per gram, respectively. Ole Hansen, Head of Commodity Strategy at Saxo Bank, noted that the recent correction in gold prices is marginal compared to the significant rally the metal has experienced over the past year. Hansen emphasized that while the correction is notable, it remains relatively small given the extent of the rally. He suggested that the market is currently in a consolidation phase and predicted that gold prices could eventually climb higher, potentially reaching $5,000 by 2026. However, Hansen cautioned that it is too early to determine whether the correction has concluded or if further adjustments are on the horizon.
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What tariffs has Trump announced and why?
In a bold move to reshape global trade dynamics, former US President Donald Trump has implemented a series of tariffs on imported goods from various countries. Trump asserts that these measures will invigorate American manufacturing, create jobs, and reduce the US trade deficit. However, critics argue that the tariffs could lead to higher consumer prices and disrupt the global economy. Tariffs, essentially taxes on imports, are calculated as a percentage of a product’s value. For instance, a 10% tariff on a $10 item adds $1 to its cost, raising the total to $11. These taxes are paid by importers, who may pass the additional costs onto consumers or reduce their import volumes. Trump’s strategy aims to encourage the purchase of American-made goods and increase government revenue. He has also used tariffs as leverage in negotiations, demanding that countries like China, Mexico, and Canada take stronger actions to curb illegal drug trafficking and migration. Despite facing legal challenges and amendments, Trump’s tariffs have significantly impacted global trade. For example, China and the US have threatened each other with tariffs exceeding 100%, though a temporary truce was extended until November. Canada faces a 35% tariff on most goods, while Mexico deals with a 30% tariff, both under the USMCA agreement. Other countries, including India, Brazil, and South Africa, have also been subjected to varying tariff rates. The UK has negotiated the lowest tariff rate of 10%, primarily affecting its automotive and pharmaceutical exports. Trump’s tariffs have also targeted specific products, such as branded drugs, steel, and furniture, with rates ranging from 25% to 100%. The elimination of the $800 exemption for low-cost imports has further complicated the trade landscape, affecting millions of packages shipped daily. Despite initial economic volatility, the US economy has shown resilience, with consumer spending increasing by 2.5% in the year to June 2025. However, the International Monetary Fund (IMF) warns that US tariffs continue to have a negative impact on global economic stability. As negotiations persist, the long-term effects of Trump’s tariff strategy remain uncertain.
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Apparel Group enters real estate with KORA Properties; first project in Dubai Maritime City
AppCorp Holding, the parent company of the renowned Apparel Group, has announced its strategic entry into Dubai’s thriving real estate market with the launch of KORA Properties. This premium real estate development firm is set to debut its first project in Dubai Maritime City on November 12, 2025. The move aligns with Dubai’s ambitious Real Estate Sector Strategy 2033, which aims to elevate the sector’s market value to Dh1 trillion. KORA Properties will focus on creating high-end residential and commercial spaces, as well as niche developments in healthcare and hospitality. Nilesh Ved, Chairman of AppCorp Holding, emphasized that KORA Properties is committed to crafting living spaces that transcend mere construction, offering ‘Timeless Living’ that nurtures dreams and fosters growth. This venture marks a significant step in AppCorp’s diversification strategy, expanding its portfolio beyond retail and lifestyle into high-value sectors. Established in 1996, Apparel Group has grown into one of the region’s largest retail conglomerates, representing over 85 global brands across 2,500 stores in 14 countries. With KORA Properties, AppCorp is poised to become a multi-sector holding company, blending its expertise in fashion with innovative real estate development.
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‘Dh2,700 profit in silver’: UAE investors cash in on metal cheaper than gold
In the United Arab Emirates, silver is emerging as a lucrative investment option, offering substantial returns to both small and large investors. With its lower cost compared to gold and expanding industrial applications, silver has captured the attention of the investment community. Ashraf Malik, a Dubai-based businessman, exemplifies this trend. On September 1, 2025, Malik invested Dh9,614 in two kilograms of silver, purchasing it at Dh4,807 per kilogram. By October 20, silver prices had surged to Dh6,192 per kilogram, allowing Malik to sell his holdings for Dh12,384 and secure a profit of Dh2,770—a remarkable 30% return in less than two months. Malik remarked, ‘I didn’t expect such a quick rise. The returns were good enough to show silver can really be rewarding.’ The surge in silver prices is not an isolated phenomenon. According to Khaleej Times, silver has outperformed gold in 2025, with prices jumping from $28.78 per ounce in 2024 to nearly $50, a 73% increase. In contrast, gold prices rose by 52% during the same period. This trend has been fueled by silver’s growing industrial use in sectors such as technology, solar panels, and electronics, as well as its appeal as a more affordable alternative to gold. Retailers in the UAE have reported a significant uptick in silver demand. Chintan Patni, senior manager at Jewel Trading, noted, ‘There has been a massive increase in silver buyers as prices have continued to rise.’ During Diwali, the demand was so high that temporary shortages occurred. Vivek J, retail head at Malabar Gold and Diamonds, added that silver is becoming a preferred choice for investors seeking to diversify their portfolios or start with smaller investments. Analysts predict that silver’s upward trajectory will continue in the near to medium term, making it an attractive option for investors looking to capitalize on its potential.
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Expert: China’s market is reshaping East Asia’s economic integration
The burgeoning influence of China’s market is fundamentally transforming the economic integration of East Asia, according to Choi Pil-soo, a distinguished professor of Chinese trade and commerce at South Korea’s Sejong University. In a recent statement, Choi highlighted that the future of regional cooperation depends on the synergistic development of ideas, technology, and talent. He underscored the critical role of cross-border collaboration among industry, government, and academic sectors in driving sustainable growth. This evolving dynamic signals a shift in the economic paradigm of East Asia, with China’s market playing a pivotal role in shaping the region’s economic future.
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India to impose 30% import duty on yellow peas from November 1
In a significant move to safeguard domestic agricultural interests, the Indian government has announced a 30% import duty on yellow peas, effective November 1, 2025. According to a government notification issued late on Wednesday, shipments with a bill of lading dated on or before October 31, 2025, will be exempt from this duty. This decision comes after domestic farmers raised concerns over the influx of cheap imports, which have been exerting downward pressure on local prices. Previously, India had allowed duty-free imports of yellow peas until March 31, 2026. As the world’s largest importer of yellow peas, India primarily sources this commodity from Canada and Russia. The new tariff is expected to provide relief to local farmers by reducing competition from imported goods and stabilizing market prices.
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Europe’s economy shows modest growth of 0.2%, held back by laggard Germany
Europe’s economy expanded by a modest 0.2% in the third quarter of 2023, according to official data released on Thursday. The growth in the eurozone, comprising 20 countries, was constrained by higher U.S. tariffs and lackluster performances from key economies like Germany and Italy, both of which narrowly avoided technical recessions. Germany’s economy stagnated with zero growth in the July-September period, following a 0.2% contraction in the second quarter. Italy similarly recorded zero growth after a 0.1% decline in the previous quarter. Germany’s manufacturing and export-driven economy faces multiple challenges, including elevated energy prices, competition from Chinese producers, a shortage of skilled labor, and bureaucratic inefficiencies. Additionally, Europe is grappling with the impact of a 15% tariff imposed by the U.S. on European goods and ongoing uncertainty surrounding potential tariff hikes. Despite the weak growth, the European Central Bank (ECB) has maintained its key interest rates at 2%, signaling no immediate plans for further cuts. This stance contrasts sharply with the U.S. Federal Reserve, which recently reduced its benchmark rate by a quarter percentage point and is considering additional cuts. ECB President Christine Lagarde has emphasized that monetary policy is ‘in a good place,’ with annual inflation at 2.2% in September, close to the bank’s 2% target. Analysts predict that the ECB’s next rate adjustments may involve moderate increases in late 2024, driven by anticipated growth from German infrastructure and defense spending.
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Watch: US and China’s different reports of their trade meeting
The recent trade negotiations between the United States and China have sparked significant attention, particularly due to the starkly different ways the two nations have portrayed the event. The BBC’s Laura Bicker delves into the contrasting narratives presented by both sides. While the US emphasized progress and the enforcement of trade agreements, China highlighted mutual understanding and cooperation. These divergent accounts underscore the ongoing complexities in US-China trade relations, reflecting broader geopolitical tensions. The reports also reveal how each country strategically frames its diplomatic engagements to align with domestic and international objectives. This analysis sheds light on the intricate dynamics of global trade diplomacy and the challenges of achieving consensus between economic superpowers.
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Calls for commitment to fair trade echo at APEC meeting
The APEC CEO Summit, held in Gyeongju, South Korea, underscored the critical need for fair trade, investment liberalization, and multilateral cooperation to address global economic challenges. South Korean President Lee Jae-myung, speaking at the opening ceremony, emphasized APEC’s historical role in fostering free trade and driving regional economic growth. He called for collective efforts to achieve sustainable development and equitable prosperity, particularly in the face of rising protectionism and inward-looking policies. The summit, themed ‘Building a Sustainable Tomorrow,’ also introduced an ‘AI for All’ initiative, aiming to integrate artificial intelligence as a cornerstone of APEC’s future agenda. U.S. President Donald Trump highlighted the robust growth prospects of the U.S. economy and engaged in bilateral discussions with Lee. The event, organized by the Korea Chamber of Commerce and Industry, brought together over 1,700 business leaders from 21 member economies to discuss pressing issues such as digital transformation, carbon neutrality, and global economic uncertainties. Chey Tae-won, chairman of the Korea Chamber of Commerce and Industry, stressed the importance of deepening trade and investment ties among APEC members to ensure regional prosperity. OECD Secretary-General Mathias Cormann warned of the adverse effects of trade tensions and policy uncertainty, urging APEC economies to resolve disputes through dialogue. Experts, including Choi Pil-soo of Sejong University, cautioned against unilateral trade measures that could undermine the global trade system, advocating for adherence to the WTO’s most-favored-nation principle.