Latest news with #geopoliticalinstability
Bloomberg
30-06-2025
- Business
- Bloomberg
Dubai Property More Affordable Than London, New York
Live on Bloomberg TV CC-Transcript 00:00Now turning to the UAE, because despite its record of managing to thrive during global instability, the Iran Israel confrontation does pose one of the most stringent tests yet for the countries neutral and open for business stance. We can get more on this with Clementine Monaro, whose House and House sales director. Clementine, it's really good to have you with me. Thank you so much for stopping in. This conflict, I feel must have been the first time for a whole generation of ex-pats that they've been exposed to the risks in the Middle East, particularly when you had those strikes on the US airbase in Qatar. Do you think that it's going to have a lasting impact on sentiment in the region of people living here and moving here? Investment sentiment as well, that for the first time they've had to really think about their safety? I think last week certainly there were some uncomfortable conversations that we were having, both as management, how do we empower our team to have conversations with buyers and sellers? But the reality is when there is geopolitical instability in the region, it only makes Dubai look safer. Yeah, and anecdotally, house and House Holiday Homes Department had a huge increase in Iranians seeking shelter in Dubai. Okay, that's really interesting. So Dubai is seen as a safe haven and that continues. Maybe this is even beneficial. What's been driving Dubai's continued price growth then? This has been the underlying trend, even amid the global headwinds, even amid the, say, for dollar soft dollar as well. I think Dubai is just an incredibly safe place to want to be. The Times reports at 16 and a half thousand millionaires have left the UK and 9800 of those have landed into Dubai. And I think what that is talking of is just brilliant infrastructure. The ease of doing business here just is seen as a really safe place to come. We mentioned the UK. I wonder with my UK correspondent hat on how much that's to do with Dubai benefiting from the Labour government in the UK dismantling the non-dom regime? Absolutely. But that's definitely what we're seeing. And even just the education now here has really caught up health care. I think people, even with things like the private school fees, VAT that went on, still much cheaper to educate your children here and yet arguably you're getting the similar quality of education. And so you're forecasting for that trend to continue. We are okay because that's a real worry for the Chancellor if more than one in four non-dom actually leave the UK. So that's really interesting. And then how does Dubai actually stack up globally when it comes to value and investor appeal? Because of course there are lots of cities where the non-dom is, but other rich and mobile people could go nuts. It Dubai is still so affordable to buy blends out an average of $418 per square foot. If you look, that's nearly half of Paris, which is $700 per square foot. And then London, 1400 dollars a square foot. New York, 1650, Singapore topping out at 1750. So it's almost four times cheaper to live in Dubai than it is in London. And that's not including the fact that you're also not paying tax on your income here. And is it the luxury segment that's driving things or is it also the mass segment? And how does it pan out? I mean, those are those numbers are over a blended average. But what we are seeing is that the mid level has been pretty buoyant, although with the supply that's coming in the next couple of years. That's a segment to watch. But the prime segment is absolutely flying.
Yahoo
19-06-2025
- Business
- Yahoo
Uncertainty Drives Rotation Out of the US: Nomura's Nicholson
Geopolitical instability and ambiguity around tariff impacts are key factors shaping global markets, according to Gareth Nicholson, Nomura CIO and Head of Discretionary Portfolio Management. Ongoing uncertainty is also prompting a rotation of assets out from the US. He speaks on Bloomberg's The China Show. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
19-06-2025
- Business
- Bloomberg
Uncertainty Drives Rotation Out of the US: Nomura's Nicholson
Geopolitical instability and ambiguity around tariff impacts are key factors shaping global markets, according to Gareth Nicholson, Nomura CIO and Head of Discretionary Portfolio Management. Ongoing uncertainty is also prompting a rotation of assets out from the US. He speaks on Bloomberg's The China Show. (Source: Bloomberg)
Zawya
18-06-2025
- Business
- Zawya
Gold falls as investors await Fed verdict, keep close watch on Israel-Iran conflict
Gold prices eased on Wednesday as investors refrained from making significant bets ahead of the U.S. Federal Reserve's policy decision, while keeping a close watch on developments in the Israel-Iran conflict. Spot gold fell 0.3% to $3,379.10 an ounce as of 0951 GMT. U.S. gold futures fell 0.3% to $3,396.90. Attention is fixed on the Fed's two-day policy meeting, which concludes later in the day. The central bank is widely expected to keep rates steady but investors will look for signals on future cuts. Investors are also waiting to see what Fed Chair Jerome Powell has to say following the meeting. "Traders are holding back ahead of the Federal Reserve's interest rate decision later today, while a slight uptick in risk appetite in equity markets is weighing on gold," said Ricardo Evangelista, senior analyst at brokerage firm ActivTrades. S&P 500 futures added 0.3%, while Nasdaq futures gained about 0.4%. Meanwhile, the conflict between Israel and Iran continues to fuel geopolitical instability, which is keeping a floor under the market, Evangelista added. Thousands of people were fleeing Tehran on Wednesday after U.S. President Donald Trump said they should leave the capital, while a source said Trump was considering options that include joining Israel in attacking Iranian nuclear sites. The U.S. is deploying more fighter aircraft to the Middle East and extending the deployment of other warplanes, three U.S. officials told Reuters. "While gold prices could feasibly fall from current levels over the next six months ... strong demand from central banks and Chinese investors will limit any price falls and keep gold above the $3,000 per ounce level," said Hamad Hussain, assistant climate and commodities economist at Capital Economics. Elsewhere, spot silver fell 0.2% to $37.18 per ounce, platinum rose 1% to $1,275.39, while palladium was steady at $1,051.75. (Reporting by Anushree Mukherjee in Bengaluru. Editing by Jane Merriman)
Argaam
16-06-2025
- Business
- Argaam
BofA predicts gold price to rise to $4,000/ Ounce
Bank of America (BofA) forecasted that gold prices will rise to $4,000 per ounce over the next year amid geopolitical instability. The bank indicated that interest rate volatility and a weakening USD should continue to support gold prices as investors resort to safe-haven assets. The investors have allocated 3.5% of their investment portfolios to gold, which is still below the historic level recorded in 2011, noting that individual investors may allocate more capital as the price of the yellow metal continues to rise, the bank added. Despite increased central bank purchases of gold in recent years, the note indicates that they hold approximately 18% of their reserves in gold, which is below the historical levels recorded during the Bretton Woods era of the 1970s.
