Global Pulse

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  • Why investors in UAE are selling cryptocurrencies to buy gold, silver

    Why investors in UAE are selling cryptocurrencies to buy gold, silver

    A significant portfolio reallocation is underway among investors in the United Arab Emirates as capital rapidly exits cryptocurrencies in favor of traditional safe-haven assets. Financial analysts confirm a pronounced trend of investors liquidating digital currency positions to acquire gold and silver, driven by extreme market volatility and substantial crypto losses.

    According to Wael Makarem, Lead Financial Markets Strategist at Exness, retail investors who previously chased cryptocurrency hype are now abandoning positions. “Many who believed Bitcoin would continue its upward trajectory have now exited and turned to commodities, hoping to offset their crypto losses,” Makarem stated in an interview with Khaleej Times. However, he cautioned that the duration of this shift remains uncertain.

    The movement contrasts sharply with asset performance trends. Bitcoin has experienced a dramatic correction from its October 2025 peak of nearly $125,000, plunging to approximately $63,000 before modestly recovering to $67,000. Meanwhile, precious metals have surged to unprecedented levels, with gold surpassing $5,500 per ounce and silver exceeding $120 per ounce in January.

    Multiple factors are driving this divergence. Konstantinos Chrysikos, Director of Customer Relations at Kudotrade, cited China’s intensified regulatory crackdown and the Jeffrey Epstein scandal’s alleged crypto connections as significant pressure points. “China introduced a stricter regulatory regime which negatively impacted cryptocurrencies. Then the Epstein scandal further dented investor sentiment,” Chrysikos explained, noting that large-scale position liquidations have compounded the downturn.

    Institutional sentiment strongly favors precious metals, with major financial institutions maintaining bullish outlooks. JPMorgan Chase projects gold could reach $6,000 by 2027, while UBS has set a $6,200 target for 2025. This optimism is underpinned by sustained central bank purchasing, anticipated Federal Reserve rate cuts, and ongoing geopolitical tensions.

    The trend extends beyond retail investors, with institutions like Harvard University reportedly reducing Bitcoin exposure in favor of Ethereum and other assets. While short-term predictions remain challenging, analysts currently express greater confidence in commodities and precious metals over cryptocurrencies for near-term portfolio performance.

  • The rising risk of China turning Japanese

    The rising risk of China turning Japanese

    Global economists are observing concerning parallels between China’s current economic predicament and Japan’s catastrophic collapse three decades ago. While China’s skyline gleams with modern architecture and its electric vehicle industry dominates global markets, the nation stands at an economic precipitude mirroring Japan’s disastrous bubble burst in the early 1990s.

    The comparison reveals striking similarities in underlying mechanisms. Japan’s crisis, as analyzed by leading economic thinkers, emerged from a perfect storm of speculative excess, hidden debt burdens, and inadequate policy responses. Nobel laureate Paul Krugman’s liquidity trap theory described Japan as an economy whose nervous system had gone numb—zero interest rates failed to stimulate spending as traumatized households hoarded cash amidst deflationary expectations.

    Richard Koo’s balance sheet recession theory provides deeper structural insight, explaining how corporations became technically insolvent despite operational profitability, diverting profits toward debt repayment rather than expansion. Meanwhile, Richard Werner’s analysis in “Princes of the Yen” blamed the Bank of Japan’s credit control mechanisms for directing capital toward speculative sectors and deliberately allowing the bubble to burst.

    China now demonstrates alarming resemblances to pre-collapse Japan. The property sector, once China’s growth engine, has become a massive drag with developers like Evergrande symbolizing a bursting bubble far exceeding Japan’s experience. Middle-class families with approximately 70% of wealth tied to real estate feel increasingly poorer as housing prices decline, creating consumption slowdowns and deflationary pressures.

    China’s advantages include its centrally managed economic system, which maintains firm control over banking sectors and can instruct state-owned banks to support strategic industries. The country also retains urbanization potential absent in 1990s Japan. However, China faces unique challenges including demographic pressures of “getting old before getting rich,” fragile social safety nets, and rising geopolitical tensions with Western technology restrictions and trade barriers.

    President Xi Jinping’s promised “proactive” macroeconomic stance for 2026 includes large-scale stimulus through government bonds, consumption trade-in schemes, and massive infrastructure investments. While theoretically addressing both Krugman’s liquidity trap through demand boosting and Koo’s balance sheet recession through government acting as borrower of last resort, execution risks remain critical. If stimulus funds flow into unproductive projects, China may simply accumulate new bad debt atop existing obligations.

    Without comprehensive structural reforms, strengthened social safety nets, and transparent resolution of local government debt, China’s current measures may function merely as painkillers rather than cures. The global economy has significant stake in China learning from Japan’s experience—not in preventing bubble bursts (which has already occurred), but in acknowledging losses quickly and distributing them strategically for economic reset. How China navigates this crisis will determine whether it avoids Japan’s lost decades or enters its own prolonged economic stagnation.

  • Philippine VP Sara Duterte to run for president in 2028 elections

    Philippine VP Sara Duterte to run for president in 2028 elections

    In a decisive political maneuver, Philippine Vice President Sara Duterte has formally declared her intention to seek the presidency in the 2028 national elections. The announcement, delivered during a Wednesday morning press briefing in Manila, signals a dramatic escalation in the ongoing power struggle between the nation’s two most prominent political dynasties.

    “I offer my life, strength, and future in the service of our nation,” Duterte proclaimed, calling for a restoration of “courage, compassion for God, people and every Filipino family.”

    In a striking reversal, the Vice President opened her brief statement with a series of apologies—first for her instrumental role in helping President Ferdinand Marcos Jr. attain office, and subsequently for what she characterized as systemic failures under his administration. She expressed particular concern over government corruption, soaring commodity prices, inadequate wages, food insecurity, and deficiencies in the healthcare system.

    “I fear for the children and succeeding generations, the homeless, and for poor Filipinos who have no choice but drown in our country,” Duterte added.

    The declaration marks the complete collapse of the once-formidable ‘UniTeam’ alliance that brought Duterte and Marcos to power as running mates. Their political partnership endured for approximately one year before deteriorating over policy disagreements, culminating in Duterte’s resignation from her concurrent position as education secretary.

    The rivalry has since intensified through financial and legal channels. Marcos allies in Congress have systematically stripped Duterte’s offices of confidential and intelligence funds, citing allegations of questionable expenditures. This financial conflict has spawned multiple impeachment complaints against the Vice President, who faces three active complaints in the current legislative session.

    The political drama reached unprecedented levels when Duterte allegedly threatened retaliatory assassination against President Marcos, First Lady Lisa Araneta-Marcos, and former House Speaker Ferdinand Martin Romualdez should she come to harm. Although the Marcos-dominated House successfully impeached Duterte in early 2025, the Senate declined to conduct a trial, allowing her to remain in office.

    This presidential announcement sets the stage for a historic confrontation between the Duterte and Marcos political machines, with profound implications for Philippine governance and democratic institutions.

  • Indian university faces backlash for claiming Chinese robodog as own at AI summit

    Indian university faces backlash for claiming Chinese robodog as own at AI summit

    An Indian academic institution has sparked significant controversy at the prestigious India AI Impact Summit in New Delhi after allegations emerged that it presented a commercially available Chinese robotic dog as its own technological innovation. The incident unfolded when Professor Neha Singh of Galgotias University appeared in a viral video segment with state broadcaster DD News, claiming the quadrupedal robot named ‘Orion’ had been ‘developed’ at the university’s Centre of Excellence.

    Digital investigators quickly identified the machine as Unitree Robotics’ Go2 model, a commercially available robotic dog that retails for approximately 200,000 rupees ($2,200). The Chinese-made robotics platform has gained global recognition in tech circles for its advanced mobility and programming capabilities.

    In response to mounting criticism, Galgotias University issued an official statement denying any claims of having manufactured the robot directly, characterizing the social media reaction as a ‘propaganda campaign.’ The institution maintained that its demonstration aimed to showcase student programming efforts using ‘globally available tools and resources’ to develop practical AI skills.

    Professor Singh subsequently clarified her remarks, suggesting possible miscommunication: ‘It might be that I could not convey well what I wanted to say, or you could not understand well what I wanted to say.’

    The controversy escalated when summit organizers reportedly asked the university to vacate its exhibition stall, though faculty members stated they received no formal notification. News agency Press Trust of India documented that electrical power to the booth was disconnected hours later, with BBC correspondents confirming the darkened stall stood empty without university representatives.

    Adding to the organizational embarrassment, the viral video had initially been shared on IT Minister Ashwini Vaishnaw’s official X account before being deleted. IT Secretary S Krishnan addressed the incident, emphasizing that the controversy should not ‘overshadow’ the work of other participants. He stressed the importance of maintaining proper conduct codes given the international nature of the event with delegates from over 100 countries.

    The summit, inaugurated by Prime Minister Narendra Modi, represents India’s ambitious push to establish itself as a global AI hub. Despite early logistical challenges including overcrowding and entry management issues, organizers reported improved arrangements as the event progressed into its third day, with thousands of attendees engaging with exhibits and discussions on AI governance and innovation.

  • Look: India’s first masjid, built in 629AD during the lifetime of Prophet Muhammad

    Look: India’s first masjid, built in 629AD during the lifetime of Prophet Muhammad

    India’s oldest mosque, the Cheraman Juma Masjid in Kerala’s Kodungallur, has reopened following an extensive 30-month conservation project completed in 2022. Originally constructed in 629 AD during the lifetime of Prophet Muhammad, this architectural treasure represents one of the world’s oldest continuously functioning Islamic places of worship.

    The mosque’s remarkable history traces back to Cheraman Perumal, the then-King of Kerala, who embraced Islam and commissioned the mosque’s construction before departing for Mecca. Persian scholar and explorer Malik Bin Dinar played a pivotal role in overseeing the initial construction. The mosque has undergone several renovations throughout its 1,400-year history, with significant work occurring in the 11th century, approximately 300 years ago, and most recently in 1974 when an extension was added while preserving the ancient core structure.

    The recent conservation initiative was conducted under the Muziris Heritage Project, a governmental program dedicated to safeguarding Kerala’s historical and cultural landmarks. This comprehensive restoration aimed to revive the mosque’s traditional elegance while maintaining its architectural integrity.

    Kodungallur’s significance extends beyond religious boundaries, having emerged as a sanctuary during the Malabar rebellion of 1921 when Islamic scholars sought refuge from police atrocities. The region subsequently became the founding place of the Muslim Aikya Sangham in 1923, which rapidly expanded to establish nearly 1,500 educational institutions across Muslim-dominated areas of Cochin and Malabar.

    The local Mappila community, descendants of 7th-century Arab traders, have maintained the mosque’s traditions while fostering remarkable interfaith harmony. A mosque spokesperson noted that non-Muslim communities regularly contribute Iftar offerings during Ramadan, demonstrating the region’s distinctive cultural synthesis.

    Government officials emphasize that Kerala’s Muslim community has played a substantial role in regional trade, anti-colonial resistance, and cultural development, with their legacy enduring through the state’s language, cuisine, and socio-political evolution.

  • A fireworks ship explosion in China kills 12 people in the second such blast in days

    A fireworks ship explosion in China kills 12 people in the second such blast in days

    A devastating explosion at a fireworks retail outlet in China’s central Hubei province has resulted in 12 fatalities, marking the second major pyrotechnic incident during the nation’s Lunar New Year observances. The catastrophe occurred Wednesday afternoon in Xiangyang town, where emergency crews rapidly contained the subsequent blaze, according to official reports from Xinhua News Agency.

    Investigative teams have been dispatched to determine the precise cause of the explosion, though preliminary details remain scarce. This incident follows another tragic event just days earlier in Jiangsu province, where eight individuals perished and two sustained injuries from a fireworks-related accident. In that case, preliminary investigations suggested improperly discharged fireworks near the establishment triggered the blast.

    The timing of these incidents coincides with peak fireworks usage during Spring Festival celebrations, prompting heightened concerns from national authorities. China’s Ministry of Emergency Management issued an explicit warning on Tuesday, identifying fireworks as the predominant safety hazard during this annual period of festivity.

    Despite cultural traditions that incorporate pyrotechnics to ward off evil spirits and welcome prosperity, the government continues to emphasize safety protocols amid widespread public usage. These consecutive tragedies have reignited discussions about regulatory enforcement and public awareness regarding explosive materials during traditional celebrations.

  • India boots a private university from an AI summit over a robot dog controversy

    India boots a private university from an AI summit over a robot dog controversy

    An Indian educational institution faced public expulsion from a prominent artificial intelligence conference in New Delhi following allegations of misrepresenting commercially available Chinese robotics technology as its own innovation. Galgotias University was compelled to dismantle its exhibition booth at the India AI Impact Summit after university representative Neha Singh presented the Unitree Go2 robotic dog—a commercially available product manufactured by China’s Unitree Robotics—as an original creation developed by the university’s Centre of Excellence.

    The controversy emerged when digital investigators identified the exhibited robot as the mass-produced Unitree Go2 model, retailing for approximately $1,600 and commonly utilized in educational and research environments worldwide. While Singh subsequently asserted to journalists that she had never explicitly claimed the robot as the university’s proprietary invention, government officials familiar with the matter confirmed the incident had caused significant embarrassment for host nation India.

    In an official response, Galgotias University expressed profound distress regarding the situation, characterizing the criticism as a ‘propaganda campaign’ potentially detrimental to student morale and innovation initiatives. The university emphasized its commitment to utilizing global technologies for educational advancement.

    The incident occurred against the backdrop of India’s strategic positioning as an emerging global hub for artificial intelligence and advanced manufacturing, with the nation actively seeking to attract substantial international investment in these sectors. The summit itself encountered operational challenges, including reported thefts of exhibitors’ belongings and products, though organizers subsequently confirmed recovery of the missing items.

    The high-profile event attracted significant international participation, featuring addresses from numerous heads of state including French President Emmanuel Macron and Brazilian President Luiz Inácio Lula da Silva. The gathering also included prominent technology leaders such as Google CEO Sundar Pichai, Qualcomm’s Cristiano Amon, OpenAI’s Sam Altman, Microsoft’s Brad Smith, and AI pioneer Yann LeCun, with Indian Prime Minister Narendra Modi scheduled to deliver a keynote address.

  • Japanese PM Takaichi’s cabinet resigns

    Japanese PM Takaichi’s cabinet resigns

    TOKYO – In a scheduled governmental transition, Japanese Prime Minister Sanae Takaichi and her entire cabinet formally submitted their resignations during a Wednesday morning session. The collective resignation occurred during a cabinet meeting commencing at 9:00 AM local time, strategically timed before the parliamentary convocation for a new session later that afternoon.

    The constitutional procedure paves the way for the Diet to designate a new prime minister. Following the legislative vote, the newly appointed premier is anticipated to finalize ministerial appointments, with the chief cabinet secretary officially unveiling the governmental lineup.

    Political analysts project that Prime Minister Takaichi, who leads the dominant Liberal Democratic Party (LDP), will likely be reappointed to her position. This expectation stems from her party’s commanding majority, which controls over two-thirds of the seats in the influential lower house of parliament.

    Domestic media outlets indicate that the cabinet composition will probably remain largely unchanged, given the administration’s recent formation in October and the ruling coalition’s decisive victory in the February 8 general election. This political stability suggests continuity in Japan’s governance approach during Takaichi’s anticipated continued leadership.

  • Iran not to abandon peaceful nuclear technology, says president

    Iran not to abandon peaceful nuclear technology, says president

    Iranian President Masoud Pezeshkian has emphatically declared that Iran will not relinquish its peaceful nuclear technology, reinforcing the nation’s stance during a meeting with civil activists on Tuesday. The statement, reported by Iran’s semi-official Tasnim news agency, comes amid escalating regional tensions and a substantial US military buildup in West Asia.

    President Pezeshkian articulated Iran’s willingness to demonstrate the exclusively peaceful nature of its nuclear program while firmly rejecting any limitations on nuclear applications for medical treatment, industrial development, and agricultural advancement. He referenced Supreme Leader Ali Khamenei’s religious decree and established policies as the foundation for Iran’s continued rejection of nuclear weapons development.

    The presidential remarks coincided with the conclusion of the second round of indirect nuclear negotiations between Iran and the United States in Geneva. These delicate diplomatic exchanges, mediated by Omani Foreign Minister Sayyid Badr bin Hamad bin Hamood Albusaidi at Oman’s embassy in Switzerland, followed initial talks held in Muscat on February 6. The negotiations represent ongoing efforts to address international concerns about Iran’s nuclear activities while acknowledging the nation’s rights to nuclear technology under international agreements.

    The timing of President Pezeshkian’s declaration highlights the complex diplomatic landscape, where Iran seeks to balance technological sovereignty with international cooperation demands. His address to civil activists signals both domestic reassurance and international positioning regarding Iran’s nuclear ambitions amidst heightened geopolitical tensions.

  • Cross-Strait bonds shine in Spring Festival fireworks show

    Cross-Strait bonds shine in Spring Festival fireworks show

    A spectacular pyrotechnic spectacle illuminated the night sky on Tuesday as the coastal city of Xiamen in Fujian province and neighboring Kinmen island jointly hosted their annual Spring Festival fireworks display. The 30-minute exhibition, synchronized across both locations separated by less than two kilometers at their closest point, marked the commencement of the Year of the Horse with brilliant bursts of color reflected on the waters between them.

    This cross-Strait tradition, established in 1987, has evolved into a powerful symbol of cultural connectivity between mainland China and Taiwan. Waterfront areas on both sides attracted substantial crowds who gathered to witness the dazzling show accompanied by festive musical arrangements. Kinmen residents further enriched the celebrations with traditional lion dances, believed to usher in prosperity and good fortune for the lunar new year.

    The event held profound significance for attendees from both communities. Chang Yang-yang, a Kinmen native attending for the third time, emphasized the familial symbolism: “When both sides set off fireworks together, it shows we are one family.” This sentiment was echoed by Han Ying-huan, a Taiwanese entrepreneur based in Xiamen, who noted the shared aspirations for cross-Strait integration and national rejuvenation.

    Parallel celebrations occurred between Fuzhou, Fujian’s capital, and Matsu island, where communities exhibited lanterns demonstrating common folk traditions for the 24th consecutive year. These cultural exchanges coincide with revitalized cross-Strait tourism, with 2025 recording over 5 million mutual visits—a six-year peak. Fujian resumed group tours to Kinmen and Matsu in 2024, with Shanghai recently announcing similar initiatives.

    The event aligns with Beijing’s commitment to enhancing cross-Strait travel facilitation and promoting grassroots cultural exchanges. Peng O-ya, a Taipei native residing in Xiamen for three decades, shared the experience with Taiwanese relatives via video call, expressing hope for continued collaboration: “I hope that compatriots across the Strait can work hand in hand, strive together in this promising era, and jointly fulfill their beautiful aspirations.”