Latest from Economy ME
Economy ME
10 hours ago
- Business
- Economy ME
WHX Dubai, WHX Labs to gather 270,000 leaders from 180 nations to tackle global healthcare challenges
Informa has unveiled the launch of the world's largest healthcare event, following the decision to host two flagship gatherings simultaneously in 2026. From February 9 to 13, 2026, WHX Dubai (formerly known as Arab Health) and WHX Labs Dubai (previously Medlab Middle East) will convene over 270,000 healthcare leaders from 180 nations and more than 4,800 exhibitors, transforming Dubai into a global healthcare hub and a catalyst for medical advancement. For decades, these events have positioned Dubai at the core of global healthcare conversations. Set to occur concurrently in 2026, under the auspices of the UAE Ministry of Health and Prevention, they will merge to create the world's largest healthcare event—a city-wide opportunity for deal-making, networking, and knowledge-sharing that addresses universal healthcare and laboratory challenges. WHX Dubai will take place from February 9 to 12 at the Dubai Exhibition Centre (DEC) in Expo City Dubai, marking a historic milestone as the event will be held outside the Dubai World Trade Centre (DWTC) for the first time in its 50-year history. Record-breaking business value The exhibition will draw an international audience and serve as a global platform for innovation, allowing exhibitors to present solutions across nine diverse product sectors, including medical devices, imaging and diagnostics, and healthcare infrastructure. The 50th edition of this event, which occurred earlier this year, generated a record-breaking $2.57 billion in business value, with each exhibitor experiencing an average impact of $2.14 million. WHX Dubai 2026 is poised to enhance global health with a forward-thinking program that includes seven CME-accredited conferences and over 250 speakers. This edition will introduce four new certified boot camps and three dedicated stages: the Future X Stage for pioneering ideas; the Frontiers Stage, showcasing the latest advancements in science, wellness, and life sciences; and the Visionary Stage, where global leaders will offer insightful perspectives on investment, leadership, artificial intelligence, and ESG. As it marks its 25th anniversary in 2026, WHX Labs Dubai will occur from February 10 to 13 at DWTC. Under the theme '25 Years of Laboratory Innovation: Uniting Communities for Better Health,' the event will highlight excellence in laboratories, diagnostics, and precision medicine. Last year, WHX Labs Dubai generated $621 million in business, serving as a platform that connected key buyers, government ministries, and decision-makers driving diagnostics-related innovation and investment in the Middle East. Accelerating global healthcare solutions WHX Labs Dubai will showcase the latest advancements from across the medical lab ecosystem through eight product pillars. Additionally, the 25th Annual Laboratory Management and Medicine Congress will feature eight CME-accredited scientific conference tracks with 250 global thought leaders and laboratory specialists. Attendees can engage in industry-defining discussions at the WHX Labs Roundtables and partake in two new clinician conferences: the Precision Health Global Forum and the Antimicrobial Resistance Leadership Global Summit. Solenne Singer, senior vice president at Informa Markets, stated: 'WHX Dubai and WHX Labs Dubai are both well-established events with a proven track record of advancing knowledge and trade at both regional and global levels. We are delighted to host them concurrently to form the world's largest healthcare event, which will transform Dubai into a hub for the global healthcare ecosystem for five enlightening days. 'Dubai's unique position will enable bold ideas and breakthroughs to cross borders rapidly, accelerating the spread of solutions from one market to another while reinforcing the UAE's status as an international center for healthcare transformation. By hosting the world's largest healthcare event, our attendees will make a significant contribution to future advances in medical excellence and innovation in the UAE and beyond.'
Economy ME
14 hours ago
- Business
- Economy ME
Stock market update: Tariff jitters cause U.S. volatility; Asian and European markets show resilience
Stock markets across Asia, Europe, and the U.S. continued on Wednesday to reflect a complex environment where trade tensions, Fed policy uncertainty, and economic data releases interplay. Investors are adopting a cautious stance amid hopes for negotiation breakthroughs and the prospect of more accommodative monetary policy, while remaining alert to evolving geopolitical and inflationary pressures. Global stock markets are navigating cautious optimism amid mixed economic signals and tariff-related uncertainties. Asian markets exhibited modest gains and subdued trading following the release of U.S. economic data that dampened hopes for immediate Federal Reserve rate cuts, while European indices showed steady performance as investors weigh ongoing geopolitical and trade developments. Asian markets In Asia, Japan's Nikkei 225 rose by 0.6 percent to close at 40,777.45, buoyed by optimism ahead of key corporate earnings from major automakers and electronics giants. Australia's S&P/ASX 200 also advanced by 0.5 percent to 8,290, reflecting resilience despite regional tariff concerns. Meanwhile, South Korea's Kospi slipped slightly by 0.3 percent to 3,357 amid caution over the impact of U.S. tariffs on chipmakers. Hong Kong's Hang Seng index fell 0.2 percent to 24,947.57, and the Shanghai Composite in China edged up by 0.3 percent to 3,627.54. The broader MSCI Asia Pacific Index finished the session with a modest 0.2 percent gain, reflecting a cautious but constructive tone in the region as investors assess the implications of President Trump's ongoing trade policies and pending tariff announcements for key sectors such as semiconductors and pharmaceuticals. Read more: Stock markets display renewed optimism as investors embrace trade negotiation hopes European indices European stock markets continued to show resilience despite ongoing global uncertainties. Key indices such as the FTSE 100, DAX, and CAC 40 maintained steady levels, supported by stable commodity prices and improved corporate earnings outlooks. Market participants remain focused on upcoming economic indicators and the unfolding effects of trade negotiations between major economies. U.S. equities Turning to the U.S. equities market, the S&P 500 ended Tuesday at 6,299.19, down about 0.5 percent, continuing a volatile trend that saw sharp swings earlier in the week. The Dow Jones Industrial Average recorded a mild decline of 0.3 percent to finish at 44,736, while the Nasdaq Composite retreated 0.4 percent, closing near 20,550. Investors are digesting weaker-than-expected U.S. services sector data that raised doubts about the Federal Reserve's next moves on interest rates. This has injected caution into markets that had rallied on early week speculation of rate cuts following slack jobs numbers. The interplay of softening U.S. labor conditions and aggressive tariff policies is complicating the Federal Reserve's balancing act between controlling inflation and sustaining economic growth. Commodities showed mixed signals with oil prices modestly rebounding to around $65.47 per barrel for both WTI and Brent crude, following a four-day decline as OPEC+ prepares to increase production in September to regain market share amid supply concerns. Gold futures slightly retreated to $3,430.10 per troy ounce, while copper futures edged down marginally, reflecting varying investor appetite for safe-haven and industrial metals.
Economy ME
a day ago
- Business
- Economy ME
Empower posts 3.4 percent rise in net profit to $109.72 million in H1 2025
Emirates Central Cooling Systems Corporation (Empower) announced on Tuesday its financial results for the first half of 2025. The company reported a net profit after tax of AED403 million ($109.72 million), marking a 3.4 percent increase compared to the same period in 2024 Total revenue reached AED1,453 million, marking a 7.5 percent increase compared to the same period in 2024. Meanwhile, EBITDA reached AED719 million, with a growth of 3.6 percent and the pre-tax net profit amounted to AED442 million, marking 3.3 percent growth compared to the first half of last year. 'Empower's exceptional performance in the first half of 2025 reflects the strength of our integrated business model and the ability to efficiently adapt to changing market dynamics and customer needs. Our sustained success is driven by a forward-looking strategy, operational excellence and the ability to extract long-term value from the continued momentum in the real estate sector,' said HE Ahmad Bin Shafar, CEO of Empower. Consolidated revenues hit AED3.36 billion Empower reported consolidated revenues of AED3.36 billion for the twelve-month period from July 2024 to June 2025, compared to AED3.16 billion in the period from July 2023 to June 2024; an increase of 6.3 percent. EBITDA for the same period reached AED1.58 billion, compared to AED1.50 billion previously, reflecting a growth of 5.1 percent. Bin Shafar noted Empower's continued growth and development on all fronts, including the expansion of its infrastructure and project portfolio, and its consistent integration of innovation and digital transformation across operations. He reaffirmed the company's prominent presence in global district cooling forums, reflecting Empower's international leadership and commitment to sharing expertise in sustainable cooling. He further emphasised Empower's long-term commitment to creating added and sustainable value for all stakeholders, and to strengthening its position as a global benchmark in environmentally friendly district cooling. The Annual General Meeting, which was held in March with a quorum of 89.9 percent, approved the Board of Directors' recommendation to distribute cash dividends for the second half of 2024, amounting to AED437.5 million in total, equivalent to 4.375 fils per share or 43.75 percent of the company's paid-up capital, which was paid in April, 2025. 86 new contracts signed in H1 2025 The first half of 2025 witnessed a significant growth in Empower's business. The company signed 86 new contracts to supply over 99,000 refrigeration tons (RT) to various projects across Dubai. This boosted Empower's total contracted capacity to 1.86 million RT, reflecting growing demand among developers and building owners for the environmentally friendly district cooling solutions. Empower signed two major agreements during the first half of 2025. The first one is with DMCC , the leading international business district that drives the flow of global trade through Dubai, to supply district cooling services to the next phase of Uptown Dubai, for a capacity of 24,675 RT. The second one is for the Island project, by Wasl, to supply environmentally friendly district cooling services for a total cooling capacity of 23,853 RT. Moreover, the company's total connected capacity exceeded 1.6 million RT following the addition of approximately 38,000 RT during the reporting period. Empower also reported a notable increase in its service footprint, with the total number of buildings it serves reaching 1,684 in the first half of 2025. Read: UAE holds global youth dialogue to shape future of sustainable development beyond 2030 New district cooling plant in Al Sufouh 2 area announced Aligning with Empower's strategy to strengthen the district cooling infrastructure and expand its services in strategically important areas of Dubai, the company announced a new district cooling plant in Al Sufouh 2 area during the reporting period. The foundation work has already started for the new plant, while construction is scheduled to begin in the fourth quarter of 2025. This plant will be the first in a series of three future plant rooms that Empower plans to build in the area. The new plant will have a cooling capacity of 23,400 RT (RT) to serve several buildings, including the 'Innovation Hub,' one of the prominent landmarks in Al Sufouh.
Economy ME
a day ago
- Business
- Economy ME
AI surge fuels global dealmaking to $2.6 trillion in H1 2025, highest level since pandemic peak
Global dealmaking has reached $2.6 trillion, marking the highest level for the first seven months of the year since the peak during the 2021 pandemic era. This surge is driven by a quest for growth in corporate boardrooms and the notable impact of increased AI activity, which has managed to overcome the uncertainty created by U.S. tariffs. As of August 1, the number of transactions is 16 percent lower than at the same time last year, yet their value is 28 percent higher, according to Reuters, which cited data from U.K.-based financial services firm Dealogic. The report indicates that transactions will be bolstered by U.S. megadeals valued at over $10 billion. Among these are Union Pacific Corp's proposed $85 billion acquisition of smaller rival Norfolk Southern and OpenAI's $40 billion funding round led by Softbank Group. This upsurge will provide relief to bankers who began the year anticipating that the administration of U.S. President Donald Trump would initiate a wave of consolidation. However, his trade tariffs and geopolitical uncertainties caused companies to pause until renewed confidence within corporate boardrooms and the U.S. administration's anti-trust agenda shifted the overall mood. Shift from healthcare to tech sector in M&A In comparison to August 2021, when investors rebounding from pandemic lockdowns drove the value of deals to $3.57 trillion, this year's total is nearly $1 trillion, or 27 percent, lower. Nonetheless, dealmakers at JP Morgan Chase have expressed optimism, stating that more significant deals are on the horizon as executives adapt to ongoing volatility. While the healthcare sector led M&A activity in the years following the pandemic, the computer and electronics industry has generated more takeover bids in the U.S. and the United Kingdom over the past two years, according to Dealogic. Artificial intelligence is anticipated to further drive dealmaking. M&A activity has notably increased around data center usage, exemplified by Samsung's $1.7 billion acquisition of Germany's FlaktGroup, a specialist in data center cooling. The U.S. has emerged as the largest market for M&A, accounting for over half of global activity. Meanwhile, Asia Pacific's dealmaking has doubled compared to the same period last year, outpacing the EMEA region. Read more: M&A in MENA hits $115.5 billion in H1 2025, up 149 percent YoY Growth in high-value transactions Similarly, According to PwC's 2025 mid-year M&A industry trends report , global M&A volumes declined 9 percent in the first half of 2025 compared to the first half of 2024, but deal values increased by 15 percent, reflecting a clear shift towards larger deals. This report highlights that deals over $1 billion rose by 19 percent and those over $5 billion increased 16 percent year-over-year. The Americas dominated global M&A with $908 billion deal value, representing 61 percent of the global total in H1 2025. Notably, domestic investments in the Americas grew, with 91 percent of capital staying within the region. Asia Pacific buyers notably more than doubled their investments into the Americas, while EMEA buyers slightly decreased overall deal values but increased acquisitions in the Americas and Asia Pacific. Sectors leading megadeal activity include technology, banking and capital markets, and power and utilities (PwC).
Economy ME
2 days ago
- Business
- Economy ME
Dubai 24-carat gold price today up to AED407.50, global rates rise as U.S. jobs data boosts Fed rate cut
Gold prices edged up for the fourth straight session on Tuesday, supported by a weaker dollar and falling Treasury yields, as disappointing U.S. jobs data strengthened expectations for a rate cut in September. In Dubai, gold rates saw an increase, with 24-carat gold rising AED2.75 to AED407.50, and 21-carat gold climbing AED2.50 to AED377.50. Moreover, 21-carat gold saw an upward shift of AED2.50 to AED362.00, while 18-carat gold gained AED2 to reach AED310.25. Spot gold was up 0.1 percent at $3,375.89 per ounce as of 02:39 GMT (currently trading above $3,371.7). U.S. gold futures also advanced by 0.1 percent to $3,430.40 (currently trading above $3,425.00). The dollar index lingered near a one-week low, making gold more accessible to holders of other currencies. The yield on the benchmark 10-year Treasury note fell to a one-month low. U.S. employment growth was weaker than anticipated in July, while non-farm payroll figures for May and June were revised down by a staggering 258,000 jobs, indicating a decline in labor market conditions. Traders now perceive a 92 percent probability of a September rate cut, according to the CME FedWatch tool . San Francisco Fed Bank President Mary Daly remarked on Monday that, given the growing evidence of a softening U.S. job market and the absence of persistent tariff-driven inflation, the time for rate cuts is approaching. Technical resistance levels Gold, often regarded as a safe-haven asset during times of political and economic uncertainty, typically thrives in a low-interest-rate environment. On the trade front, President Donald Trump once again threatened on Monday to increase tariffs on Indian goods due to its purchases of Russian oil. New Delhi described his statements as 'unjustified' and pledged to safeguard its economic interests, exacerbating the trade divide between the two nations. In other markets, spot silver rose 0.1 percent to $37.44 per ounce, platinum gained 0.1 percent to $1,330.31, and palladium was up 0.2 percent to $1,204.25. Over the past month, gold's price has increased 1.19 percent and is up 41.66 percent year-to-date. Analyst forecasts by UBS and Goldman Sachs, as reported by Bullion by Post, project that gold could reach $3,700 per ounce by the end of 2025, while J.P. Morgan Research anticipates an average price of $3,675/oz in the final quarter of 2025, potentially rising toward $4,000/oz by mid-2026. According to the World Gold Council 's Mid-Year Outlook 2025, gold has surged 26 percent in U.S. dollar terms in the first half of 2025 and continues a record-setting pace. Read more: Dubai 24-carat gold price today falls to AED405.25, global rates slip amid weak U.S. jobs data Labor market updates On the U.S. bond market side, the 10-year Treasury yield was 4.21 percent, near a three-month low, and down 0.18 percentage points over the past month, reflecting investor repositioning amid weaker economic data. Demand for bonds has been reinforced by ongoing trade tensions and anticipation of Fed policy shifts, based on official data from Trading Economics and the U.S. Department of the Treasury. Regarding the U.S. labor market, July saw the addition of 73,000 net jobs with large downward revisions of 125,000 and 133,000 for May and June, respectively, according to the U.S. Bureau of Labor Statistics and further analysis by Employ America. The unemployment rate edged up to 4.2 percent. Over the past three months, job growth has averaged just over 35,000 per month, while the prime-age employment rate fell to 80.4 National Foundation for American Policy (NFAP) also noted that the labor force has decreased by 402,000 since its peak in April 2025, with a substantial drop in foreign-born workers, which adds pressure on economic growth and reduces labor supply. On the global trade front, President Trump's threatened to substantially raise tariffs on India over Russian oil deals, with India officially denouncing the move as 'unjustified and unreasonable.' India's Ministry of External Affairs stated it would take all measures necessary to protect its national interests, highlighting the broader geopolitical uncertainty that has contributed to gold's appeal as a safe-haven asset.
