Global Pulse

分类： business

  • Zuckerberg names banker, ex-Trump advisor as Meta president

    Zuckerberg names banker, ex-Trump advisor as Meta president

    Meta Platforms Inc. has announced the strategic appointment of Dina Powell McCormick, a seasoned banking executive and former Trump administration official, as its new President and Vice Chairman. The move signals a significant corporate realignment as the technology conglomerate accelerates its artificial intelligence infrastructure investments.

    Founder and CEO Mark Zuckerberg emphasized Powell McCormick’s unique qualifications for navigating Meta’s next growth phase, citing her extensive experience in global finance and international relations. Her appointment transitions her from Meta’s board of directors to a central operational role within the management team.

    In her expanded capacity, Powell McCormick will assume responsibility for Meta’s comprehensive AI infrastructure strategy, overseeing multi-billion-dollar investments in data centers and energy systems. A critical aspect of her role will involve forging partnerships with governments and sovereign wealth funds, particularly from the Middle East, which have emerged as crucial financiers in the global AI infrastructure race.

    Powell McCormick brings sixteen years of Goldman Sachs partnership experience, where she served on the management committee and led global sovereign investment banking. Most recently, she worked at BDT & MSD Partners, a financial advisory firm involved in securing U.S. investors for TikTok.

    The appointment continues Zuckerberg’s recent political alignment with conservative figures and policies, marking another high-profile Republican addition following Sheryl Sandberg’s departure in 2022. Former President Donald Trump publicly endorsed the selection, praising Powell McCormick’s service in his administration where she served as Deputy National Security Advisor shaping foreign policy.

    Powell McCormick is married to Pennsylvania Republican Senator Dave McCormick, further cementing her connections within conservative political circles. Her hiring reflects Meta’s intensified focus on securing the substantial capital required to compete in the increasingly expensive AI infrastructure landscape against other tech giants.

  • Etihad flies a record 22.4 million passengers in 2025, launches 16 new routes

    Etihad flies a record 22.4 million passengers in 2025, launches 16 new routes

    Abu Dhabi’s national carrier Etihad Airways has achieved unprecedented growth in 2025, transporting a record-breaking 22.4 million passengers throughout the year. This represents a substantial 21% year-on-year increase, marking the highest annual passenger volume in the airline’s operational history.

    The airline’s commercial performance demonstrated remarkable strength, with passenger load factors reaching 88.3% – an improvement of two percentage points compared to 2024 figures. This performance was particularly notable during December’s peak travel period, when the carrier transported 2.2 million passengers with an 87.6% load factor, representing a 28% increase over the same month in the previous year.

    Etihad’s expansion accounted for approximately half of the total passenger growth across the UAE aviation sector, underscoring its pivotal role in supporting Abu Dhabi’s tourism and economic development objectives. The airline’s growth strategy included the addition of 29 aircraft to its operating fleet during 2025, bringing its total to 127 aircraft – the largest fleet in the company’s history. This expansion included the introduction of Airbus A321LR aircraft, enabling the extension of premium cabin offerings to shorter and medium-haul destinations.

    Network development saw significant progress with the launch of 16 new routes, expanding Etihad’s global reach to 110 destinations by December 2025. CEO Antonoaldo Neves announced ambitious future plans, including a $10 billion investment over the next five years for new aircraft acquisitions and continued annual hiring of 2,500 personnel. Neves emphasized that the airline has doubled in size over the past three years and has dramatically improved its profitability standing within the aviation industry.

    The CEO attributed this success to sustained customer confidence in Etihad’s product and service quality, noting that the airline is ‘better positioned than ever’ to welcome visitors to Abu Dhabi while delivering exceptional travel experiences. Looking forward to 2026, the carrier remains committed to maintaining safety standards, enhancing customer service, and pursuing sustainable growth that benefits both Abu Dhabi and the communities it serves globally.

  • Dubai sells 500 homes valued at over $10 million in 2025, sets new record

    Dubai sells 500 homes valued at over $10 million in 2025, sets new record

    Dubai’s luxury real estate market has established an unprecedented global benchmark, closing 2025 with a historic 500 residential transactions valued above $10 million each. This remarkable performance, documented by property consultancy Knight Frank, represents a significant 15% increase from the 435 ultra-luxury homes sold in 2024. The market’s most exclusive segment—properties exceeding $25 million—witnessed even more dramatic growth, with 68 transactions completed compared to 46 the previous year, marking a 45% year-on-year surge.

    The fourth quarter of 2025 alone accounted for 143 premium property sales, generating a total transaction value of $9.05 billion annually. The market’s pinnacle transaction occurred in Business Bay’s Bugatti Residences by Binghatti, where a six-bedroom apartment commanded Dh550 million ($149.7 million).

    Faisal Durrani, Knight Frank’s Partner and Head of Research for Mena, attributes this explosive growth to Dubai’s evolving reputation as a sanctuary for global elites. ‘The emirate’s transformation from just 30 premium sales in 2020 to 500 today demonstrates its powerful appeal among high-net-worth individuals worldwide,’ Durrani noted. This attraction stems from Dubai’s exceptional quality of life, superior infrastructure, and government-led investment initiatives.

    Geographic distribution data reveals Palm Jumeirah as the preferred destination for luxury buyers, with 28 transactions in Q4 2025. Palm Jebel Ali followed with 22 sales, while La Mer (16), Jumeirah Second (13), and Tilal Al Ghaf (9) completed the top five locations.

    Will McKintosh, Regional Partner and Head of Residential for Mena at Knight Frank, emphasized Dubai’s unique market positioning: ‘The creation of comprehensive destination communities that integrate leisure, safety, and convenience into self-contained ecosystems has differentiated Dubai from other global gateway cities, attracting unprecedented attention from the world’s wealthiest individuals.’

    Supporting this luxury property boom, Dubai’s millionaire population has grown substantially, now hosting 86,000 millionaires, 251 centi-millionaires, and 23 billionaires according to mid-2025 data. World-class healthcare, education facilities, and unparalleled security continue to drive this demographic shift, cementing Dubai’s status as a premier global wealth hub.

  • Dubai gold prices at record high; 24K reaches Dh550 per gram

    Dubai gold prices at record high; 24K reaches Dh550 per gram

    Dubai’s gold market witnessed unprecedented price surges on Monday morning as 24-karat gold reached a historic high of Dh550.25 per gram, according to data released by the Dubai Jewellery Group. The remarkable rally saw 24K gold climbing Dh7 per gram while 22K gold simultaneously increased by Dh6.5 to reach Dh509.5 per gram.

    The price escalation extended across all variants, with 21K gold rising to Dh488.75, 18K to Dh418.75, and 14K to Dh326.75 per gram. This domestic surge mirrored global trends where spot gold breached the psychological barrier of $4,600 per ounce for the first time in history, trading at $4,568.13 with a 1.31 percent increase at 9am UAE time.

    Multiple geopolitical and economic factors are driving this bullion boom. Market analysts attribute the surge to heightened safe-haven demand amid escalating tensions between the US and Iran, with President Donald Trump threatening military action in response to protests within the Persian nation. Simultaneously, Federal Reserve Chairman Jerome Powell’s revelation that he faces federal criminal investigation regarding the central bank’s $2.5 billion headquarters renovation has created additional market uncertainty.

    Powell characterized the investigation as a governmental ‘pretext’ designed to pressure the Federal Reserve into implementing rate cuts. These combined factors have intensified investor anxiety, reinforcing gold’s status as a preferred asset during periods of economic instability and geopolitical turmoil.

  • Trump plan to cap credit card costs hits bank shares

    Trump plan to cap credit card costs hits bank shares

    Financial markets experienced significant turbulence following former President Donald Trump’s unexpected call for a drastic reduction in credit card interest rates. Through his Truth Social platform on Friday, Trump demanded that credit card companies implement a one-year cap of 10% on interest rates effective January 20, 2026, claiming this would prevent the American public from being “ripped off” by financial institutions.

    The announcement triggered immediate sell-offs across the banking and payment processing sectors. Barclays Bank, which maintains substantial U.S. credit card operations, saw its shares decline by 3.5%. Pre-market trading indicated similar downward trends for American Express (-4%), Visa (-1.2%), and Mastercard (-2%). Major U.S. banks including JPMorgan Chase and Bank of America also experienced declines of 3.2% and 2.5% respectively.

    Industry representatives responded with strong opposition. Five leading U.S. banking associations issued a joint statement warning that such a cap would severely restrict credit availability and prove “devastating” for millions of families and small businesses. They argued that the measure would ultimately drive consumers toward less regulated, more expensive alternative credit sources.

    Legal and political challenges emerged quickly. Democratic Senator Elizabeth Warren dismissed Trump’s proposal as insufficient, noting that actual implementation would require congressional legislation. She highlighted Trump’s previous efforts to dismantle the Consumer Financial Protection Bureau (CFPB), which oversees consumer financial products.

    The proposal revives earlier legislative efforts from Senators Bernie Sanders and Josh Hawley, who introduced bipartisan legislation in early 2024 to cap credit card rates at 10% for five years, though their bill has not advanced.

    Notably, the Trump administration had previously moved to eliminate an $8 cap on credit card late fees implemented by the Biden administration in April 2025. Billionaire investor Bill Ackman expressed support for the goal of reducing rates but warned that a 10% cap would likely cause widespread card cancellations as companies struggle to price subprime credit risk adequately.

  • Khaleej Times, Innovation City sign one-year KT Talks partnership

    Khaleej Times, Innovation City sign one-year KT Talks partnership

    In a significant development for the UAE’s media and technology sectors, Khaleej Times has entered into a landmark one-year partnership with Innovation City, Ras Al Khaimah’s premier technology free zone. The collaboration, formalized through the KT Talks branded-content platform, represents a strategic initiative to elevate discourse around technological innovation and entrepreneurship throughout the region.

    The agreement was ceremoniously signed by Charles Yardley, Chief Executive Officer of Khaleej Times, and Paul Dawalibi, Chief Executive Officer of Innovation City. This alliance marks the inaugural partnership for the newly launched KT Talks platform, signaling growing market demand for credible, thought-leadership-oriented branded content in the Middle East.

    KT Talks operates as Khaleej Times’ dedicated branded-content publishing ecosystem, providing partner organizations with comprehensive tools to create, curate, and distribute expert content using the same professional infrastructure employed by the newspaper’s editorial team. This integration ensures all published content maintains discoverability, transparency, and alignment with established journalistic standards.

    Innovation City serves as Ras Al Khaimah’s specialized hub for technology and innovation, facilitating the emirate’s strategic pivot toward a knowledge-based economy. The free zone supports startups, scale-ups, and multinational corporations operating across cutting-edge sectors including artificial intelligence, Web3 and digital assets, gaming and iGaming, robotics, and digital health. Through streamlined regulatory frameworks and enhanced access to talent networks, the zone plays a pivotal role in attracting foreign investment and driving economic diversification.

    Paul Dawalibi characterized the partnership as extending beyond mere infrastructure development, describing it as ‘building a movement’ aimed at establishing Innovation City as the Middle East’s definitive reference point for technological advancement. The collaboration will spotlight emerging founders, enterprises, and transformative ideas while shaping broader narratives about the region’s technological future.

    The partnership strategically targets founders, technologists, investors, and ambitious talent within the UAE and international audiences crucial to Innovation City’s expansion. Thought leadership will prioritize several high-growth sectors including artificial intelligence, gaming, Web3 digital assets, advanced software development, and applied research, while simultaneously highlighting human stories behind technological innovation.

    Charles Yardley emphasized the qualitative dimension of the partnership, noting that Innovation City’s status as first partner demonstrates market appetite for innovative storytelling approaches. The KT Talks platform enables organizations to share expertise directly with Khaleej Times’ readership while benefiting from the publication’s strong search visibility, organic website placements, and extensive social media reach.

    Participating organizations receive dedicated profile presence on khaleejtimes.com, where their thought-leadership content is hosted and promoted alongside regular newsroom coverage. All branded articles receive professional editorial support including structured ledes, SEO-optimized headlines, topic targeting, and expert consultation, ensuring authentic engagement with the UAE’s trusted readership base.

  • UAE: How driving in flooded areas affects insurance claims due to ‘negligence’

    UAE: How driving in flooded areas affects insurance claims due to ‘negligence’

    The United Arab Emirates insurance sector is demonstrating increased operational maturity by implementing stricter claims assessment protocols following severe weather events in April 2024 and December 2025. Industry leaders report a significant shift in how motor insurance claims are being processed, particularly regarding flood-related vehicle damage.

    According to Ralph Kabban, CEO of United Insurance Brokers (UIB), insurers are applying more rigorous policy interpretations with growing numbers of claims being rejected on grounds of policyholder negligence. This includes driving into known flooded wadis, designated high-risk zones, or heavily inundated roads where specific coverage exclusions typically apply.

    The market evolution is twofold: while insurers are enhancing their catastrophe-response frameworks, consumers are simultaneously becoming more informed about insurance products. Anas Mistareehi, CEO of eSanad, notes that customers now demonstrate greater awareness of policy exclusions, deductibles, and the critical importance of comprehensive motor and property coverage.

    This increased consumer sophistication has led to measurable behavioral changes. InsuranceMarket.ae’s deputy CEO Hitesh Motwani observed that improved warning systems and coordinated communication between government authorities and residents during the December 2025 rains significantly reduced risk exposure and subsequent insurance losses.

    Market data indicates a noticeable trend of motorists upgrading from basic third-party policies to comprehensive coverage, alongside increased uptake of home contents insurance among tenants. These shifts reflect heightened public awareness of climate-related risks following recent extreme weather events.

    The insurance sector has simultaneously strengthened its operational capabilities. Companies have developed surge capacity for claims assessment, improved intermediary coordination, and enhanced customer communication strategies during peak claim periods. Regulatory oversight from the Central Bank of the UAE has further reinforced the industry’s commitment to timely settlement of legitimate claims.

    Industry executives characterize the December 2025 weather event as a stress test that validated the market’s resilience while highlighting the importance of data-driven underwriting and proactive customer education in an evolving climate landscape.

  • China and the EU agree on steps to resolve their dispute over EV imports

    China and the EU agree on steps to resolve their dispute over EV imports

    In a significant development for global trade relations, China and the European Union announced on Monday a mutually acceptable framework to resolve their escalating dispute over Chinese electric vehicle imports. The breakthrough follows months of tension after the EU imposed tariffs of up to 35.3% on Chinese EV manufacturers earlier this year.

    The European Commission released a detailed guidance document outlining specific requirements for Chinese automakers seeking to export to EU markets. The framework establishes minimum import pricing structures and comprehensive investment commitments within European territories. According to EU officials, the varied nature of electric vehicles necessitated tailored pricing mechanisms to effectively address market distortion concerns while maintaining compliance with World Trade Organization regulations.

    China’s Commerce Ministry welcomed the agreement, stating it “not only ensures the healthy development of China-EU economic relations but also safeguards the rules-based international trade order.” The China Chamber of Commerce to the EU described the arrangement as facilitating a “soft landing” for what had become a potentially damaging trade confrontation.

    Industry analysts note that the compromise reflects the complex interdependence between the two economic powers. European manufacturers remain heavily dependent on Chinese battery technology, rare earth materials, and semiconductor components, creating what ING senior economist Rico Luman characterized as “a necessary balancing act to avoid frustrating the trade relationship.”

    The agreement emerges against a backdrop of remarkable market transformation. European imports of battery-electric vehicles skyrocketed from $1.6 billion in 2020 to $11.5 billion in 2023, with significant portions originating from Western automakers operating Chinese production facilities, including Tesla and BMW. Despite the previously imposed tariffs, Chinese-manufactured vehicles captured 6% of EU market share in early 2025, up from 5% during the same period in 2024.

    Projections from consulting firm AlixPartners suggest Chinese automakers could double their European market presence to approximately 10% by 2030, highlighting the continued importance of structured trade relationships for both parties involved.

  • Consumer and energy stocks lead broad market rally on the Australian exchange

    Consumer and energy stocks lead broad market rally on the Australian exchange

    The Australian equities market commenced the trading week on a robust upward trajectory, propelled by vigorous consumer sector performance and escalating commodity valuations. Market analysts attributed this bullish sentiment to resilient household expenditure patterns and geopolitical developments affecting global energy markets.

    The benchmark S&P/ASX 200 index advanced 41.60 points (0.48%) to settle at 8759.40, while the comprehensive All Ordinaries index gained 46.80 points (0.52%) closing at 9082.70. Concurrently, the Australian dollar demonstrated strength, appreciating to 66.95 US cents in foreign exchange trading.

    Market breadth remained decidedly positive with nine out of eleven sector classifications finishing in positive territory. Consumer discretionary stocks emerged as particularly strong performers, followed closely by consumer staples and energy securities. Notable gainers included retail conglomerate Wesfarmers (+1.44% to $82.23), electronics retailer Harvey Norman (+1.95% to $6.78), and appliance manufacturer Breville Group (+1.96% to $30.73).

    The consumer discretionary segment witnessed extraordinary momentum from Light & Wonder, whose shares skyrocketed 17.97% to $182.50 following the successful resolution of intellectual property litigation with gaming competitor Aristocrat Leisure. The settlement arrangement involves Light & Wonder remitting $190 million (US$127.5 million) to Aristocrat regarding proprietary mathematical algorithms utilized in game development.

    Consumer staples similarly demonstrated vigor with Woolworths Group ascending 0.76% to $30.31, Coles Group climbing 2.38% to $21.53, and Endeavour Group advancing 1.06% to $3.81. This retail surge coincided with the release of November expenditure data indicating household spending increased 1.0% monthly and 6.3% annually, substantially exceeding market expectations of 0.6% and 5.5% respectively.

    Russell Chesler, Head of Investments at VanEck, noted the spending resilience was particularly remarkable given the earlier commencement of seasonal discounting in October. Energy equities benefited from Brent crude’s 5% surge to $63 per barrel, driven by escalating geopolitical tensions. ANZ’s Head of G3 Economics Brian Martin highlighted increased military activities in Venezuela and sustained civil unrest in Iran’s oil-producing regions as primary catalysts for supply disruption concerns.

    Critical minerals companies experienced additional momentum following Treasurer Jim Chalmers’ announcement of overseas promotion efforts for Australian commodities. Notwithstanding the broad market optimism, Super Retail Group declined 5.28% to $14.89 after revising profit guidance downward, while Domino’s Pizza Enterprises gained 3.10% to $23.25 following executive leadership appointments.

  • UAE: Amazon Creators Foundry announced to help creators sell products online

    UAE: Amazon Creators Foundry announced to help creators sell products online

    In a significant move to bolster the creator economy, Amazon has unveiled the Creators Foundry initiative in collaboration with Creators HQ, the Middle East’s first dedicated creators’ hub. Announced during the fourth edition of the 1 Billion Followers Summit in Dubai, this program represents a strategic partnership between Amazon Ads and the UAE Government Media Office.

    The initiative establishes a comprehensive framework to empower UAE-based content creators by providing end-to-end support for launching and scaling product businesses on Amazon.ae. The program addresses the evolving nature of the creator economy, which is rapidly transitioning from content monetization to full-scale entrepreneurship.

    Eligible participants within the Creators HQ network will gain access to Amazon’s extensive infrastructure, seller tools, and global marketplace reach. The program includes specialized education covering retail fundamentals, product development strategies, digital marketing techniques, and brand building in the digital age. Participants will also receive mentorship opportunities and Amazon Ads credits to enhance their market visibility.

    A distinctive feature of the initiative enables creators to expand beyond local markets through Amazon’s global selling registration program, connecting them with hundreds of millions of international customers across Amazon’s worldwide store network.

    Alia Al Hammadi, Vice Chairperson of the UAE Government Media Office, emphasized the strategic importance of this initiative: “The UAE has established itself as a global destination for the creator economy, and Amazon Creators Foundry demonstrates how this vision translates into tangible opportunities for digital entrepreneurs. We’re nurturing a new generation of innovators who will shape the future of commerce and drive the growth of the UAE’s digital economy.”

    Rayan Karaky, Managing Director of Amazon Ads for EMEA and Southeast Asia, noted the transformative nature of the program: “The creator economy is entering a phase where influence meets innovation. Creators understand their audiences better than anyone—they know what truly resonates and what their communities want. Amazon Creators Foundry bridges the gap between these unique insights and commercial success.”

    The announcement coincided with the 1 Billion Followers Summit, which brought together over 15,000 content creators and influencers alongside 500 speakers representing a combined global audience of 3.5 billion followers. This initiative reinforces the UAE’s position as a leading global hub for the digital creator economy and innovation ecosystem.