logo
Gamers line up for Nintendo Switch 2 on launch day

Gamers line up for Nintendo Switch 2 on launch day

Dubai Eye05-06-2025
Gaming fans queued up for the launch of Nintendo's Switch 2 on Thursday amid pent-up demand for the more powerful next-generation gaming device.
"The level of demand seems to be sky-high," said Serkan Toto, founder of the Kantan Games consultancy.
In the Ikebukuro shopping district of Tokyo, dozens of successful applicants to a sales lottery by electronics retailer Bic Camera lined up before the store opened to collect their devices.
"I feel like I'm going to cry," Yumi Ohi, a 30-year-old delivery contractor, told Reuters. Ohi had missed out in other lotteries and had come from Saitama prefecture, adjacent to Tokyo, to receive her Switch 2.
Nintendo has sold 152 million Switch home-portable devices since launching in 2017. It became a games juggernaut with titles, including two The Legend of Zelda titles and COVID-19 pandemic breakout hit Animal Crossing: New Horizons.
The Switch 2 bears many similarities with its predecessor but offers a larger screen and improved graphics and debuts with titles including Mario Kart World.
"The much larger audience of Switch users should translate to stronger adoption in the opening part of its lifecycle," said Piers Harding-Rolls, an analyst at Ampere Analysis.
"Nintendo is better prepared this time around" to deal with the high demand, he said.
The launch of the $499.99 Switch 2 is a test of Nintendo's supply chain management during US President Donald Trump's trade war.
Nintendo last month forecast sales of 15 million Switch 2 units during the current financial year, as well as 4.5 million Switch units.
President Shuntaro Furukawa said Nintendo will strengthen production capacity to respond to strong demand and focus on sales promotion in an effort to exceed the forecast.
"Given it's a special occasion, I wanted to buy (the Switch 2) right away on its release date," said Shinichi Sekiguchi, a hotel receptionist in his thirties.
Nintendo said it received 2.2 million applications for its Switch 2 sales lottery on its My Nintendo Store in Japan. Pre-orders at Target sold out in less than two hours. "You are looking at weeks or months until you can walk into a store and buy a Switch 2," said Toto of Kantan Games.
Investor expectations for the new device are similarly lofty.
Nintendo's shares, which closed down 2 per cent in Tokyo, have gained 28 per cent this year.
Concerns include whether momentum for the Switch 2 will be sustained after hardcore gamers have upgraded.
"The volume of first-party games on offer at launch isn't as strong as it could be, so some more casual users may wait and see how the games available build over the next one to two years before making the leap," said Ampere's Harding-Rolls.
Ampere forecasts Switch 2 sales to exceed 100 million units in 2030.
Mario Kart World has a US sticker price of $79.99, generating debate over the price of games. Nintendo is also attracting third-party titles to the system.
"I've been around since the era of the Super Nintendo Entertainment System and games from (that period) were expensive too so I think it's somewhat within the acceptable range," said Akitomo Takahashi, a salesman in his forties.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

ECB keeps rates steady as it awaits clarity over trade
ECB keeps rates steady as it awaits clarity over trade

Khaleej Times

time15 hours ago

  • Khaleej Times

ECB keeps rates steady as it awaits clarity over trade

The European Central Bank left interest rates unchanged on Thursday after cutting eight times in a year, biding its time while Brussels and Washington negotiate over trade. The ECB cut its policy rate to 2% last month, halving it from 4% a year earlier, after taming a surge in prices that followed the end of the COVID-19 pandemic and Russia's full-scale invasion of Ukraine in 2022. With inflation now back at the ECB's 2% goal and expected to stay there, policymakers chose to stay put on Thursday, just as trade talks between the European Union and Donald Trump's U.S. administration appeared to be in their final stretch. The ECB's policy-making Governing Council painted a balanced picture of the economy, with near-term uncertainty over trade offset by public investment further down the road. "Partly reflecting the Governing Council's past interest rate cuts, the economy has so far proven resilient overall in a challenging global environment," the ECB said. "At the same time, the environment remains exceptionally uncertain, especially because of trade disputes." As ECB President Christine Lagarde and her colleagues were in the middle of their meeting late on Wednesday, EU diplomats said the two sides were heading towards a deal that would result in a broad tariff of 15% on U.S. imports of European Union goods. This would be roughly halfway between the ECB's baseline and severe scenarios for the euro zone economy presented last month, but milder than Trump's threatened 30%. The ECB's estimate showed that higher U.S. tariffs would result in lower growth and, depending on the extent of EU retaliation, inflation in the euro zone over the medium term. "If the two sides indeed conclude such a deal, it would support our call that the euro zone economy can regain momentum from the fourth quarter onwards and that the ECB will not need to cut rates further," Berenberg economist Holger Schmieding said. In its statement the ECB said it would decide "meeting by meeting ... based on its assessment of the inflation outlook and the risks surrounding it". Money markets were still pricing in a further interest rate reduction, probably by March, as inflation was seen at risk of going too low. Even the ECB's baseline projection from June, which incorporates 10% tariffs from the United States, saw price growth below 2% over the next 18 months. "Even in the case of a benign outcome (i.e. U.S. tariffs around 10%) we still see scope for further easing as the disinflation process broadens," MUFG's Europe economist Henry Cook said. The euro zone economy is showing some tentative sign of acceleration but growth remains modest. Companies, while still optimistic about an upturn ahead, report starting to feel the pinch from tariffs on their profits. On the bright side, euro zone banks have seen rising loan demand and policy uncertainty has not yet translated into an economic or market downturn. After a short-lived selloff in April investors have taken the trade turmoil in their stride, with European equity indices close to new highs also thanks to Germany's newly found appetite for spending. In fact, erratic policy-making in the United States, including Trump's relentless criticism of the Federal Reserve, has lured foreign investors to euro zone assets. That briefly pushed the euro to its highest level against the dollar since September 2021 at $1.1829 earlier this month. ECB board member and outspoken hawk Isabel Schnabel even said the central bank should watch out for price hikes caused by tariffs and that the bar for further cuts was "very high". But the euro's appreciation has unnerved other policymakers, who fear a stronger currency would make European exports less competitive and contribute to pushing down inflation. "On that front, we would expect Christine Lagarde to strike a reassuring tone, reminding people that the ECB does not target exchange rates but that any resulting downward pressure on inflation will be addressed, if necessary," Julien Lafargue, chief market strategist at Barclays Private Bank, said.

17,600 Afghans hosted by UAE prior to departure to final destinations
17,600 Afghans hosted by UAE prior to departure to final destinations

Al Etihad

timea day ago

  • Al Etihad

17,600 Afghans hosted by UAE prior to departure to final destinations

24 July 2025 23:34 ABU DHABI (WAM)As part of its humanitarian commitment and swift response during crises, the United Arab Emirates hosted 17,619 Afghans who were evacuated from Afghanistan since August 2021, before their resettlement in third countries. This step was carried out in cooperation with international partners to support the Afghan people amid the exceptional circumstances the country Emirates Humanitarian City in Abu Dhabi received the Afghan evacuees, providing high-quality services and facilities before their departure to 21 final destinations. The total cost of the hosting amounted to Dh 1.384 billion ($ 367 million), providing a comprehensive framework for dignified temporary accommodation that met the full range of needs, particularly those of children, the elderly, and UAE also facilitated the evacuation of 41,000 individuals from Afghanistan, including Afghan citizens and foreign nationals residing in the country. Driven by its commitment to supporting friendly nations, the UAE responded to requests for assistance in evacuating their citizens from Afghanistan and facilitating their eventual return their stay, the UAE provided all essential needs to Afghan nationals, including healthcare, logistical and diplomatic services, and communications, in addition to shelter and food – ensuring their comfort, dignity, and well-being. Financial assistance was also provided to help families rebuild their lives in their final facilitate the resettlement process, all necessary departure services were provided within the Emirates Humanitarian City. This included the establishment of 17 embassy offices, along with offices for the U.S. Citizenship and Immigration Services (USCIS), the International Organisation for Migration (IOM), U.S. Customs and Border Protection (CBP), and two offices for international non-governmental the healthcare domain, the UAE undertook extensive efforts to care for residents of the Emirates Humanitarian City – including Afghans and foreign nationals – especially during the COVID-19 crisis. These efforts included providing necessary vaccines and preventive treatments, with a total of 34,923 vaccines administered to all residents by specialised medical comprehensive healthcare services were offered to more than 303 newborns, while successfully completing over 303 surgeries across various specialities, including three critical cases treated abroad. In total, more than 254,572 medical services were provided throughout their temporary the field of educational and vocational training, the UAE provided education to more than 3,764 Afghans, including approximately 800 children enrolled in nurseries with school transportation and continuous follow-up. Authorities also organised more than 39 educational courses, in addition to vocational training and development workshops, which benefited 2,589 Afghan Emirates Humanitarian City facilities include outdoor courtyards, several playgrounds and entertainment facilities dedicated to children, women, and the elderly, in addition to a preventive healthcare centre. Residents also have access to the necessary means for sustenance, including medicine, food, and other essential supplies, reflecting the values and traditions of Emirati UAE is among the leading countries in providing aid to Afghanistan, and has spared no effort in assisting the Afghan people. This reflects the country's humanitarian message, rooted in values of peace, consolidating coexistence, tolerance, and the principles of human fraternity. In addition, the UAE is committed to reinforcing solidarity with nations enduring the most challenging its founding, the UAE has prioritised human dignity and people's well-being as a cornerstone to the country's approach – regardless of ethnic, religious, or geographical backgrounds. This value aligns with the country's noble humanitarian principles, which have become a global symbol of generosity and giving. Notably, the UAE ranks among the top donor countries to Afghanistan. Over the past three years alone, the UAE has provided Dh 740 million in humanitarian and relief aid, including the establishment of an air bridge to deliver hundreds of tonnes of relief and food supplies, which benefited more than one million people – primarily children, the elderly, and women. The UAE also provided medical assistance during the COVID-19 pandemic and opened 10 maternity and women's healthcare centres across seven Afghan provinces.

5 years after COVID, pharma shares languish
5 years after COVID, pharma shares languish

Gulf Today

timea day ago

  • Gulf Today

5 years after COVID, pharma shares languish

Global healthcare stocks have not been this cheap in decades and fund inflows into the sector are picking up, yet the shares remain in the doldrums, highlighting uncertainty over drug pricing policies since Donald Trump returned to the White House. Pharma companies' earnings outlook is being obscured by concerns over revived "most-favored-nation" drug pricing rules in the lucrative US market and potential 200% tariffs on pharma imports into the US. Money flooded into drugmakers' shares during the COVID-19 pandemic but more recently there has been an exodus as investors shifted into Big Tech, leaving the sector cheap but unloved, reported Reuters. At 15.9 times forward earnings, healthcare trades 11% below its long-term average and 20% below global equities, its steepest discount in 16 years, just above a record discount in 2009, based on LSEG Datastream data. "We've moved from cautious optimism to cautious pessimism," said Stephanie Aliaga, global market strategist at J.P. Morgan Asset Management in New York. "Valuations have gotten even cheaper, but for a reason," she added, referring to intensifying US policy risks. But some investors are starting to look past the Washington policy fog and at long-term positive drivers, such as aging populations, RNA-based therapeutics, and breakthroughs in weight-loss and diabetes drugs, Reuters reported. Alberto Conca, CIO at Swiss wealth manager LFG+ZEST, has been adding exposure to pharma, biotech and medtech in recent weeks, drawn by strong cash-flow yields and the prospect of US rate cuts boosting this rate-sensitive sector. Interest rate cuts typically support healthcare by lowering R&D funding costs and boosting the value of future cash flows. "These are quality companies with good growth and defensive features being priced as if we're heading into an 'Armageddon scenario', which I believe is unlikely," he said. UK-based M&G Investments has also been selectively adding to healthcare, according to its latest allocation report. Healthcare funds have seen net inflows since 2024, more than reversing the outflows from late 2022 through 2023, fund tracker EPFR data shows. Although year-to-date, inflows total $7.2 billion, down 41% from last year. Innovation is accelerating, pipelines are maturing and M&A is showing signs of picking up — yet stock prices are unmoved. Whether that represents a buying opportunity or a value trap hinges on how and when the policy uncertainty clears, investors said. Historically, healthcare has traded at a modest premium to world stocks, thanks to its defensive profile and steady earnings. But that narrative has unravelled under political pressure from Washington and investors' love of Big Tech. Over the past three years, US healthcare has underperformed the S&P 500 by more than 60 percentage points, making it the worst sectoral performer on Wall Street. Its valuation has deepened to a near-record 27% discount, from parity to the S&P in 2023. "Markets don't like uncertainty, and that shows up in valuations," said Eddie Yoon, healthcare sector leader and portfolio manager at Fidelity Investments in Boston. "Being cheap isn't necessarily a reason to buy. You need a catalyst." For now, that catalyst is elusive. The policy uncertainty makes it difficult to forecast future earnings, he said, though he hopes for more clarity by year-end - potentially also paving the way for more M&A in the industry. Talks with the Trump administration have yet to clarify how and when drug prices will fall, executives from Eli Lilly and Merck said at a May industry conference.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store