From Nixon to Trump: US presidential visits to the Gulf
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Al Etihad
19 minutes ago
- Al Etihad
Shares steady, yen up as markets unfazed by Japanese politics
21 July 2025 12:33 SYDNEY/LONDON (Reuters)European shares held steady and the yen firmed on Monday, as markets shrugged off the Japanese ruling coalition's defeat in upper house weekend elections and turned to focus on this week's US tech earnings and European Central Bank policy were also hoping for some progress in trade talks ahead of US President Donald Trump's August 1 tariff deadline, with US Commerce Secretary Howard Lutnick still confident a deal could be reached with the European were reports Trump and Chinese leader Xi Jinping were closer to arranging a meeting, though likely not until October at the earliest. European Commission President Ursula von der Leyen will meet Xi on pan-European benchmark STOXX 600 index was flat, while the UK's blue-chip FTSE 100 was up 0.1%. The euro was 0.1% higher at $ focus was on weekend news out of Japan, where the ruling coalition lost control of the upper house in an election on Sunday, further weakening Prime Minister Shigeru Ishiba's grip on power as a tariff deadline vowed to stay on, which along with a market holiday, limited the reaction. The yen was 0.5% firmer at 148.065 to the dollar and up 0.3% against the euro."The loss was within the range of expectations, and actually the outlook was even more pessimistic," said Nissay Research Institute chief economist Tsuyoshi Ueno."In terms of negotiations with the US, it is easy to doubt whether a government with such a weak foundation is reliable as a negotiating partner," he added. "For the Bank of Japan, if there is political instability, it will be difficult to raise interest rates, and pressure on the yen will continue."The BOJ still has a bias to raise rates further, but markets imply little chance of a move until late the Nikkei was shut, futures traded at 39,885, up on the cash close of 39,819. MEGA CAPS KICK OFF S&P 500 futures edged 0.2% higher, while Nasdaq futures were up 0.3%. U.S. indexes are already around record highs in anticipation of more solid quarterly earnings are gearing up for a host of big tech company results this week, including Google owner Alphabet, Tesla and IBM."They are going to be key for sentiment because frankly there's not a lot else to drive things," said Michael Brown, senior research strategist at Pepperstone."We saw the banks deliver decent results last week, so you'd certainly be looking for the big tech names to keep up with that to reinforce the bull case (for equities)," he also expect upbeat news for defence groups RTX , Lockheed Martin and General Dynamics. Higher government spending around the globe has seen the S&P 500 aerospace and defence sector rise 30% this year, while defence stocks in Europe have also hit record tech news, Microsoft issued an alert about "active attacks" on server software used by government agencies and businesses, urging customers to download security euro zone government bond yields eased ahead of euro zone PMI data and the European Central Bank meeting later this week, at which it is expected to leave rates at 2% following a string of euro dipped 0.5% last week, moving off a recent near-four-year top of $1.1830. The dollar index was a fraction lower at Treasury yields fell, leaving the yield on the benchmark 10-year note down 4.5 basis points at 4.286%. Bonds got a boost late last week after Federal Reserve Governor Christopher Waller repeated his call for a rate cut this of his colleagues, including Chair Jerome Powell, have argued a pause is warranted to judge the inflationary impact of tariffs and markets imply almost no chance of a move in July. A September cut is put at 61%, rising to 80% for reticence on rates has drawn the ire of Trump who threatened to fire the Fed chief, before backing down. The spectre of a potential political appointee who would seek to ease policy sharply has investors on edge. In commodity markets, gold firmed 0.5% to $3,365 an ounce , with all the recent action in platinum, which last week hit its highest since August 2014. Stock Markets Continue full coverage
The National
19 minutes ago
- The National
US envoy Tom Barrack in Beirut for Hezbollah disarmament talks
US envoy has arrived in Beirut for another round of talks with Lebanese leaders over the disarmament of Hezbollah. On his second visit to Lebanon in two weeks, Mr Barrack is meeting with President Joseph Aoun followed by Prime Minister Nawaf Salam. The US and Lebanon continue to exchange 'ideas' on a proposal that would ultimately lead to the disarmament of Hezbollah, with all weapons then coming under the control of the Lebanese state. Lebanon is also pushing for Israel to halt its daily attacks on the country and withdraw from the five strategic points in south Lebanon that it occupies. Hezbollah's Secretary General Naim Qassem has accused Mr Barrack of seeking to encourage the Lebanese army to disarm the group by force and provoke a civil war. He also struck a hard line over the weapons issue, arguing that Israel would expand its territorial control over parts of Lebanon without Hezbollah. 'We will not surrender or give up to Israel; Israel will not take our weapons away from us,' Mr Qassem said in a video speech at a commemoration for a senior Hezbollah commander killed in the war last year. In his previous visit, Mr Barrack, who is special envoy for Syria and US ambassador to Turkey, said he was satisfied with Lebanon's response to Washington's plan for the disarmament of Hezbollah. But he also insisted that Lebanon must not be left behind in a rapidly changing region. In their response to the US proposal, Lebanese authorities submitted a seven-page document calling for a full Israeli withdrawal from disputed territory, including Shebaa Farms, and reaffirming state control over all weapons while pledging to dismantle Hezbollah's arms in south Lebanon. In a recent interview with The National, Mr Barrack said time was of the essence. 'I honestly think that they are going to say, 'the world will pass us by'. Why? You have Israel on one side, you have Iran on the other, and now you have Syria manifesting itself so quickly that if Lebanon doesn't move, it's going to be Bilad Al Sham again,' he said, using the historical name for the Greater Syria region. That comment by Mr Barrack was widely interpreted as suggesting Lebanon risks being swallowed up into a Greater Syria, but the envoy later said he was merely trying to praise 'Syria's impressive strides". 'I can assure that Syria's leaders only want coexistence and mutual prosperity with Lebanon, and the United States is committed to supporting that relationship between two equal and sovereign neighbours enjoying peace and prosperity,' he said on X.
Gulf Business
an hour ago
- Gulf Business
Dubai property market breaks records: What's driving the Dhs431bn surge?
Image credit: WAM/ Website Dubai's real estate sector delivered an exceptional performance in the first half of 2025, reinforcing the emirate's position as a global leader in property investment and development. According to data from the Dubai Land Department (DLD), the number of real estate transactions surged to 125,538 in H1 2025, compared to 99,947 during the same period in 2024, marking a 26 per cent increase. The total value of transactions rose 25 per cent, reaching approximately Dhs431bn, up from Dhs345bn a year earlier, Read- The overall volume of real estate procedures—including sales, leases, and other transaction types, exceeded 1.3 million in the first six months of the year. The strong numbers reflect growing investor confidence and continued demand across Dubai's diverse real estate segments. Surge in investment and new buyers The investment landscape remained robust, with 94,717 investors completing 118,132 deals worth around Dhs326bn in H1 2025. That represents a 26 per cent increase in investor participation and a 39 per cent rise in investment value, compared to Dhs234bn in the same period last year. New investors contributed significantly to this growth, with 59,075 first-time participants entering the market. Their investments totalled Dhs157bn, marking a 22 per cent rise in the number of new investors and a 40 per cent jump in capital inflow. UAE residents accounted for 45 per cent of these new investors, reflecting the success of government strategies aimed at converting tenants into homeowners and encouraging long-term stability in the market. Women played a growing role in driving activity, investing Dhs73.2bn across 34,792 transactions made by 30,487 female investors. This increase highlights the rising influence of women in shaping the sector and contributing to economic diversity. By nationality, GCC investors accounted for Dhs22.56bn, Arab investors Dhs28.4bn, and foreign investors Dhs228.35bn. These figures reinforce Dubai's global standing and its continued appeal among international buyers, driven by an advanced regulatory environment, strong infrastructure, and growth-focused initiatives. Top areas by transactions and value Several districts saw standout performance in terms of transaction volume. Al Barsha South Fourth led the market with 10,469 transactions, followed by Al Yalayis 1 (7,595) and Wadi Al Safa 5 (7,178). Other active locations included Business Bay (6,601), Dubai Marina (6,428), Airport City (5,569), Jebel Ali First (4,275), Al Thanyah Fifth (3,956), Burj Khalifa (3,670), and Meaisem First (3,643). The widespread activity highlights the depth and diversity of Dubai's real estate ecosystem. In terms of transaction value, Dubai Marina took the top spot at Dhs25.1bn, followed by Business Bay (Dhs22.5bn), Burj Khalifa (Dhs17.1bn), and Palm Jumeirah (Dhs16.96bn). Other high-value areas included Al Yalayis 1 (Dhs15.7bn), Meaisem Second (Dhs15.4bn), Wadi Al Safa 5 (Dhs15.3bn), Airport City (Dhs15.2bn), and Al Barsha South Fourth (Dhs14.9bn). Mohammed Bin Rashid Gardens also stood out with Dhs14.5bn in transaction value. The continued concentration of high-value deals in prime areas signals ongoing demand for luxury and mixed-use developments. Supporting a sustainable real estate ecosystem The Dubai Land Department remains focused on enhancing transparency, streamlining digital services, and improving legislative frameworks to ensure continued growth and investor trust. The department also reaffirmed its commitment to delivering the goals of the Dubai Real Estate Strategy 2033, aligned with the Dubai Economic Agenda D33. These initiatives aim to position Dubai among the top three global economic cities while ensuring the sustainability of the real estate sector as a vital pillar of economic diversification.
