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HSBC chair Sir Mark Tucker stated that "globalisation as we knew it may have now run its course," citing trade and geopolitical tensions that could reshape economic ties among regional groups and trade blocs. He emphasized that while the world won't regress into de-globalisation, new opportunities will arise, particularly among the expanding Brics group, which now includes additional countries like Iran and the UAE. Tucker noted that economic connectivity between Asia and the Middle East is expected to increase significantly in the coming years.
Palm Jebel Ali has been relaunched with a new masterplan, making it more than twice the size of Palm Jumeirah. The master-developer Nakheel is actively releasing new homes, with premium properties currently priced from Dh30 million.
Saudi Arabia's sovereign wealth fund, alongside five regional counterparts, is set to control $18 trillion in assets by 2030, bolstered by aggressive investments, particularly in Asia and Africa. Gulf funds are enhancing their capabilities and expanding their global footprint, with significant investments in China amid a strategic shift from Western markets. As competition intensifies, these funds are focusing on performance and governance, employing around 9,000 professionals to drive innovation and efficiency.
Dubai's off-plan property prices may soon reflect changing land values, raising questions about the potential decline in land prices during the next market cycle. Historical data shows a 20% drop in land prices from 2014 to 2020, followed by a five-fold increase in the subsequent bull market, which is now experiencing a cooling phase. The current narrative suggests this slowdown could be seasonal or temporary.
Mike Huckabee, nominated by President Trump as ambassador to Israel, faces a Senate confirmation hearing amid renewed conflict in Gaza. Known for his strong pro-Israel stance, Huckabee opposes a two-state solution and has previously supported annexation of the West Bank. His confirmation could further complicate U.S. policy in the Middle East, especially as Israeli military actions escalate.
Abu Dhabi Global Market (ADGM) has partnered with Chainlink to enhance blockchain regulation and tokenisation frameworks. This collaboration aims to promote regulatory compliance and the utility of tokenised assets, with plans for educational events on blockchain standards and interoperability. ADGM's CEO emphasized the goal of establishing a global benchmark for transparency and security in the blockchain space.
Seviora Group, a Singapore-based asset management firm owned by Temasek, has launched its Middle East office in Abu Dhabi Global Market, managing US$54 billion in assets. The new hub aims to enhance its presence in Asia and beyond, led by Sadiq Hussain, who will focus on regional investor engagement. CEO Jimmy Phoon emphasized the strategic importance of this expansion for fostering partnerships with local investors.
Warner Bros. Discovery is investing $57 million for a 30% stake in Dubai-based OSN Streaming Limited, aiming to enhance its presence in the Middle Eastern entertainment market. The partnership will focus on producing high-quality local content and expanding OSN's reach globally. This investment aligns with WBD's strategy to grow its streaming services, targeting 150 million global subscribers by 2026.
UAE-based fintech enza has raised $6.75 million in seed funding to enhance Africa's digital payments landscape, focusing on financial inclusion through its cloud-native technology. With operations in Egypt, Nigeria, and South Africa, enza aims to expand its reach and innovate payment solutions for local markets.Meanwhile, Yango Group has launched a $20 million venture fund, Yango Ventures, to support early-stage startups in emerging markets, including MENA and Africa. The fund seeks to empower entrepreneurs with resources and mentorship to drive community transformation and economic growth.
Paysky, a leading digital fintech solutions provider, has secured $6.75 million to enhance Africa's fintech infrastructure. Recognized among Forbes Middle East’s Top 50 Fintech Companies for the third consecutive year, the company operates in 18 countries and processed over $3.9 billion in transactions in 2024. Its innovative offerings include national payment systems, the Yalla Super App, and various digital payment solutions aimed at driving financial inclusion and digital transformation across the region.
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globalisation may be ending as trade tensions reshape economic ties
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