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Wall Street Journal
3 days ago
- Business
- Wall Street Journal
Asian Currencies Consolidate; U.S. Steel, Aluminum Tariffs May Buoy
0036 GMT — Asian currencies consolidate against the dollar in the morning session, but may be buoyed by President Trump's announcement to double U.S. tariffs on imports of steel and aluminum to 50% from June 4. 'The USD is at the lower end of fair value, according to our metrics,' three members of CBA's Global Economic & Markets Research say in a research report. 'The risk is U.S. trade policy changes pull the USD below the fair value range,' the members add. The ICE USD Index is down 0.1% at 99.20; USD/JPY edges 0.1% lower to 143.67; USD/PHP is little changed at 55.80. (
Qatar Tribune
28-05-2025
- Business
- Qatar Tribune
QEF concludes with concrete outcomes, global impact
Tribune News Network Doha The fifth edition of the 'Qatar Economic Forum, Powered by Bloomberg' concluded in Doha last week with strong international turnout, high-level conversations, and concrete outcomes that reinforced Qatar's growing role as a global convening power. Held from May 20 to 22 under the high patronage of His Highness the Amir Sheikh Tamim bin Hamad Al Thani, the Forum welcomed over 3,000 in-person attendees from more than 90 countries and featured more than 120 speakers, including global leaders, CEOs, policymakers, and government officials. Across the three-day program, more than 20 Memoranda of Understanding (MoUs) were signed and over 300 meetings were held, demonstrating the Forum's role in advancing partnerships and enabling cross-border collaboration. With over 280 members of the press representing more than 80 local and international outlets, the event also garnered widespread media attention, amplifying its reach across regional and global platforms. This year's edition, themed 'The Road to 2030: Transforming the Global Economy,' explored global shifts across geopolitics, investment, energy security, technology, and sports and entertainment. Through more than 40 sessions, the Forum convened high-level discussions on development, economic transformation, and the evolving role of the Gulf in shaping the decade ahead. 'The 2025 Forum was a high-level strategy meeting for the global economy, offering a window into how global leaders are thinking about a number of topics, from geopolitics to investment. It revealed their priorities, the shifts they anticipate, and how they are preparing for the years ahead,' said Sheikh Dr. Abdulla bin Ali Al Thani, Chairman of Media City Qatar and the Organizing Committee of the Forum, on the closing of this year's edition. 'This is what Qatar stands for: open dialogue, meaningful partnerships, and a belief that progress happens when we come together across borders and sectors. Convening voices at this level is a conscious choice to stay ahead of the shifts already unfolding. With our partners, we are committed to building this platform year after year as a steady part of Qatar's role on the global stage.' Karen Saltser, CEO of Bloomberg Media, added 'The fifth edition of the Qatar Economic Forum stood out for its clarity and conviction. We saw global leaders speak candidly about the forces shaping our world, from capital flows to technology and trade. Through our collaboration with Media City Qatar, Bloomberg Media is helping bring these critical conversations to a global audience, while continuing to deepen our presence in Doha as this platform grows in reach and impact.' As the 'Official Partner' of the Forum, Media City Qatar announced three strategic agreements during the event aimed at expanding international partnerships, strengthening Qatar's media ecosystem, and advancing the creative economy. Bloomberg Media announced it will be deepening its presence in Qatar with an expanded studio setup in Doha, following five successful years of producing the global 'Qatar Economic Forum, Powered by Bloomberg.' Media City Qatar and Microsoft signed a Memorandum of Understanding during the event to advance digital innovation in Qatar's media and creative technology sectors, with a focus on entrepreneurship, training, and startup support. Meanwhile, a Cooperation Agreement signed with Qatar Development Bank will enhance Qatar's creative and cultural industries by fostering innovation, nurturing global talent, and unlocking new opportunities for media startups. Additionally, during the Forum, Media City Qatar also hosted an exclusive networking event, bringing together key voices from the media, technology, and creative industries to connect, exchange ideas, and build meaningful relationships. As this year's edition comes to a close, preparations are already underway to build on its impact and continue positioning Doha as a global stage for economic dialogue and innovation, with next year's Forum set to take place from 12 to 14 May 2026.
Qatar Tribune
20-05-2025
- Business
- Qatar Tribune
Amir inaugurates Qatar Economic Forum
Satyendra Pathak Doha His Highness the Amir of the State of Qatar Sheikh Tamim bin Hamad Al Thani patronised the opening of the fifth edition of the Qatar Economic Forum, Powered by Bloomberg, held under the theme 'The Road to 2030: Transforming the Global Economy,' at Katara Towers – Raffles and Fairmont Hotels – on Tuesday morning. HH the Amir emphasised that the Qatar Economic Forum has evolved into a prominent global platform and a vital gathering place for experts, thought leaders and decision-makers. HH the Amir extended his best wishes for the success of the forum and for all participants. In a post on X platform, HH the Amir said: 'Today, I was pleased to inaugurate the fifth edition of Qatar Economic Forum. Since its inception nearly four years ago in partnership with Bloomberg, the forum has grown into an influential global platform and a hub for experts, thought leaders, and decision-makers. I followed with great interest some of the discussions and perspectives shared on critical economic, geopolitical, and technological topics. I wish the forum success and good luck to all participants.' Prime Minister and Minister of Foreign Affairs HE Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani delivered the opening address. The opening ceremony was attended by President of the Republic of Benin Patrice Talon. Also in attendance were Prime Minister and Minister of Foreign Affairs HE Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, Speaker of the Shura Council HE Hassan bin Abdullah Al Ghanim, along with ministers representing sisterly and friendly countries, heads of diplomatic missions accredited to the State of Qatar, high-ranking officials, parliamentarians, intellectuals, economists, business leaders, media professionals, representatives of regional and international organizations, and guests of the forum.
Qatar Tribune
20-05-2025
- Business
- Qatar Tribune
Amir patronises opening of Qatar Economic Forum
DOHA: His Highness the Amir of the State of Qatar Sheikh Tamim bin Hamad Al Thani has patronised the opening of the fifth edition of the Qatar Economic Forum, Powered by Bloomberg, held under the theme 'The Road to 2030: Transforming the Global Economy', at Katara Towers - Raffles and Fairmont Hotels. Prime Minister and Minister of Foreign Affairs HE Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani delivered the opening address. The opening ceremony was attended by President of the Republic of Benin HE Patrice Talon. Also in attendance were Prime Minister and Minister of Foreign Affairs HE Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, Speaker of the Shura Council HE Hassan bin Abdullah Al Ghanim, along with ministers representing sisterly and friendly countries, heads of diplomatic missions accredited to the State of Qatar, high-ranking officials, parliamentarians, intellectuals, economists, business leaders, media professionals, representatives of regional and international organizations, and guests of the forum.
Asharq Al-Awsat
20-05-2025
- Politics
- Asharq Al-Awsat
From the ‘Past' of Summits... to the Economy of ‘State Builders'
Let us forget, for a moment, that the president of the United States is the most powerful political leader in the world, and that he can annihilate humanity at the press of a button or obliterate the global economy with an 'executive order.' For a moment, let us put that to one side and focus, instead, on two undeniable truths that we must address as Arabs during these extraordinary times in our contemporary history. First, we have the truth of Arab affairs as they currently are, not as we would like them to be. Second economic, technological, strategic, and ideological shifts are sweeping the globe at astonishing speed. The Arab states met on Saturday at a summit hosted by Baghdad, a city that had once been the capital of the greatest empire in history. Sadly, it hosted the 34th Arab League summit under unfavorable circumstances that underlined the inertia of our Arab nation more than they showcased a capacity for overcoming existential challenges. To begin with, state representation was modest. Several Arab capitals have reached the conviction that betting on joint Arab action is futile, with some even rejecting the very idea of a single shared Arab identity. Still, no one is willing to admit it explicitly and bear the consequences. Indeed, the deep-seated distrust brewing 'beneath the ashes' has become apparent to anyone keenly following regional issues and impending decisions. Having practiced obfuscation, denial, disregard, and willful neglect, we have become adept at papering over these truths, undermining most initiatives and political approaches that have any real substance or impact. The Arab failure to address chronic flashpoints and crises reflects this. Although some signs of a breakthrough have emerged, tentatively and timidly, in Syria and Lebanon, it is painfully clear that the Arab states have no shared strategy for alleviating the pain of Palestinians in Gaza and the West Bank. No practical approach for curbing Iranian influence has been developed either, be it Iran's more recent foothold in Yemen or its longstanding hegemony in Iraq, where Tehran-backed militias still have the final say on the ground. And certainly, there are no signs of an imminent end to the chaos in Libya, the escalating crisis in Sudan, or the chronic conflict between Algeria and Morocco. For all these reasons and others, Arab officials have concluded that there is no longer a need to burden the institution of the Arab League with tasks it can no longer undertake - that is, anything beyond the usual generous expressions of fraternity and solidarity and ritualized performative indignation. As for the second truth - the astonishing pace of economic, technological, strategic, and ideological global change - it will affect us. In fact, it has already begun to shape our lives in the Arab world and beyond. I began this piece by stating that the US president is the most powerful 'political' leader in the world to set the stage for developments we must be prepared for and learn to live with. In my humble opinion, there was someone far more important than the 'politician' Trump, despite the success of his Gulf tour. They are the architects of America's future, its global influence, and its political establishment: the executives and investors of technology companies and the industries of the future, particularly artificial intelligence. Among them are Elon Musk, who has now become bigger than a 'kingmaker,' and executives from major corporations, such as NVIDIA, Google, OpenAI, BlackRock, Uber, Blackstone, and others that dominate the Fortune 500 list. These are the people leading the charge of America's war against future challengers, chief among them China. Whereas China synergizes the efforts of the public and private sectors in building its techno-economic arsenal, however, Trump's Washington seems to be armed solely with the power of the private sector, gradually eliminating every non-consumerist role for human beings. To put it plainly: Washington seeks neither obstacles nor restraints nor regulatory standards on investment. It has no legal or organizational framework for investment and regulation, firmly opposing any regime or legislative framework that could slow the pace of liberalization and economic openness. This is a crucial dimension of its struggle for the future, particularly with China, that has major political implications for an era in which interest trumps ideology. The very concept of the state itself is now in doubt. The logic of accountability has become a burden on efficiency. The principle of civil liberties has become just a matter of opinion. The idea of a democracy safeguarded by a constitutional political system has become a contentious issue. At best, it is now debatable and applied with discretion. How could things be otherwise? Indeed, the budgets of the giant corporations waging this global battle far exceed those of sovereign states. This brings me back to an American saying I first heard during my freshman year at university: 'If ideology was the weapon of 20th-century wars, then technology is the weapon of 21st-century wars.' It's no coincidence, then, that the phrase 'America's business is business' (though it was said in a different context) is associated with Republican President Calvin Coolidge (who served from 1923 to 1929), a staunch believer in minimizing the role of the state in the economy, see non-interference in market mechanisms at the criteria for assessing government efficiency. In the world of the future, which is rushing toward us faster than we had ever been prepared for, we fear that our societies, unless our cultural awareness and patterns of thinking change, might not succeed in avoiding the pain and enormous costs that these transformations threaten. We could pay a very high price for maturity.
