UAE’s eCommerce Market is expected to reach $11.01 billion in 2024. With the rise of eCommerce, events like Cyber Monday are gaining traction. Cyber Monday is an online shopping event that occurs on the Monday after the Thanksgiving holiday in the US. Let’s understand more about Cyber Monday and the year’s biggest furniture sale. The Origin of Cyber Monday Cyber Monday began in the USA in 2005. […]
Exploring the Unique Characteristics of Tsuen Wan and Sha Tau Kok and Presenting Hong Kong’s Diverse Tourism Experience HONG KONG SAR – Media OutReach Newswire – 25 November 2024 – “Design District Hong Kong” (#ddHK) creative tourism project, organised by the Tourism Commission of Hong Kong, is set to return from 12 December 2024 to 14 February 2025, bringing visitors from around the world to explore the […]
“Engineered for Sustainability: Hong Kong’s Contribution to United Nations Sustainable Development Goals” Showcasing over 40 Sustainable Engineering Projects HONG KONG SAR – Media OutReach Newswire – 25 November 2024 – The Hong Kong Institution of Engineers (“HKIE”) launched an eBook, Engineered for Sustainability: Hong Kong’s Contribution to United Nations Sustainable Development Goals, which introduces Hong Kong engineering industry’s progress towards achieving the United Nations Sustainable Development Goals […]
Reducing waste by collaborating with the World Green Organisation and a local farm to upcycle materials for farming use HONG KONG SAR – Media OutReach Newswire – 25 November 2024 – Mead Johnson Nutrition Hong Kong (“Mead Johnson”) is re-introducing the “We CAN Protect the Future” formula cans recycling program today, inviting parents and the community to join forces in promoting recycling and resource recovery. Additionally, the […]
The United Arab Emirates is navigating turbulent global geopolitical shifts, thanks to a series of robust economic policies that have helped the country weather external pressures, according to analysts. A combination of strategic diversification, government initiatives, and regional investments has fortified the nation’s resilience, enabling it to maintain stability in the face of rising global uncertainties. Despite increasing geopolitical tensions that have disrupted global supply chains and […]
“Connecting Global Experience, Strengthening Local Partnerships” HONG KONG SAR – Media OutReach Newswire – 25 November 2024 – The Social Enterprise Summit (SES 2024) officially opened at the Hong Kong Convention and Exhibition Centre. With the theme of “Connecting Global Experience, Strengthening Local Partnerships”, it emphasised the importance of synergy through collective intelligence, leveraging global insights and expertise to cultivate local partnerships, and foster innovative and transformative […]
HONG KONG SAR – Media OutReach Newswire – 22 November 2024 – The spirit of Christmas has come alive at Pacific Place and Starstreet Precinct! Welcome to ChristmasVille, the tranquil village that bursts into life every Christmas, igniting your inner holiday spirit. From today to 2 January, join our larger-than-life monsters from the village as they take you on a stroll through their beautiful evergreen cove and […]
Openreads, a new open-source mobile app, is revolutionizing the way readers track their books. The app, designed for avid readers and book lovers, offers a customizable platform to organize, catalog, and review books from an extensive library. As the popularity of digital platforms continues to rise, Openreads provides a refreshing alternative by giving users complete control over their data while supporting the open-source community. The app’s clean […]
iShopChangi is throwing a year-end bash like no other! From now till December, get ready to snag spectacular deals of up to 60% off. Find everything from tech treasures to exclusive holiday beauty gift sets for early birds, perfect for gifting or treating yourself. Plus, stand a chance to score an exclusive Puffy Bag (Charcoal) with a Sanrio charm in an exclusive colour when you shop online […]
Tickets Now Available via Urbtix HONG KONG SAR – Media OutReach Newswire – 22 November 2024 – The seventh edition of “No Limits”, co-presented by the Hong Kong Arts Festival (HKAF) and The Hong Kong Jockey Club Charities Trust, opens on 21 February 2025. Continuing its mission to promote inclusion through arts, No Limits 2025 offers a series of innovative performances and activities featuring numerous outstanding artists […]
Whimsical White Christmas KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 21 November 2024 – Are you dreaming of a white Christmas? This holiday season, Avenue K Shopping Mall fulfils your dreams with its theme of ‘Whimsical White Christmas‘ right in the heart of KL. From 15th November to 25th December, Avenue K will transform into a winter wonderland adorned with breathtaking decorations and elegant illuminations. Avenue […]
Collect FunStamps on the New 7-Eleven App and Redeem for FREE HONG KONG SAR – Media OutReach Newswire – 21 November 2024 – Christmas is just around the corner and 7-Eleven is inviting all of your favourite Pixar pals to celebrate with you! 10 beloved characters – including Joy, Sadness, Anger, Disgust, Mike, Sulley, Buzz Lightyear, Lotso, Alien and Woody – are here to spread cheer with […]
KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 21 November 2024 – As a critical resource in the global economy, oil is integral not only to the energy sector but also to industries such as transportation, manufacturing, and agriculture. Changes in its prices impact inflation rates, production costs, and global trade. For instance, oil price increases can accelerate global inflation. This effect ripples through various sectors, with […]
Highlights of FY24/25 Half-Year Results Group sales US$1,854 million – down 4% compared to first half of the prior financial year Gross profit US$438 million or 23.6% of sales (compared to US$430 million or 22.2% of sales in the first half of the prior financial year) Adjusted EBITA US$177 million or 9.5% of sales (compared to US$180 million or 9.3% of sales in the first half of […]
Teresa Goody Guillén, a veteran legal expert with a background at the U.S. Securities and Exchange Commission (SEC), is reportedly one of the top candidates under consideration by former President Donald Trump for a potential leadership role at the agency. Known for her extensive experience in regulatory matters, Goody Guillén’s candidacy is being discussed amidst the need for leadership in the SEC, which plays a critical role […]
The MOU will establish the Security Technology Experience Centre (STEC), a dedicated hub for delivering training and upskilling initiatives to security professionals SINGAPORE – Media OutReach Newswire – 20 November 2024 – Canon Singapore (Canon Singapore Pte. Ltd.) today announced a strategic partnership with Temasek Polytechnic to advance the professional development of security personnel in Singapore. The Memorandum of Understanding (MOU), signed between both parties and witnessed […]
Trend to join and support France’s much-anticipated AI Action Summit in February HONG KONG SAR – Media OutReach Newswire – 19 November 2024 – Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cybersecurity leader, today announced it will partner with Paris Peace Forum to play a pivotal role in guiding global leaders as they establish secure frameworks for AI adoption and implementation. Committed to advancing security […]
By Dr. Nilanjan Banik Donald Trump made history by winning a larger share of Black and Hispanic votes compared to 2020, and by becoming the first since George W. Bush to win based on popular votes. There had already been indications of Trump winning, although not by such a decisive margin. Initially, the US betting […]
Shoppers can enjoy 12 days of exciting deals from top local and international brands, including Dyson, De’Longhi, SMEG, Bose, Hasbro, Bioderma and more Celebrate Black Friday at Amazon.sg Holiday Playground with exciting activities during selected time periods on 22 and 23 November at SuperPark Singapore SINGAPORE – Media OutReach Newswire – 18 November 2024 – (NASDAQ: AMZN) – Amazon Singapore today unveiled an exciting lineup of Black […]
The global economic outlook for emerging markets (EMs) faces mounting pressure, with US trade policies under former President Donald Trump continuing to disrupt trade and growth patterns. Citigroup analysts predict that these shifts, primarily driven by tariffs and protectionist measures, will exacerbate the challenges that EMs already grapple with, such as inflation, currency instability, and volatile capital flows. However, one country in the Middle East stands resilient: Saudi Arabia. The kingdom’s economic diversification efforts and strategic positioning in global markets have placed it in a favorable position despite ongoing global economic turbulence.
Trump’s trade war, initiated during his presidency, was centered on tariffs and trade barriers, primarily targeting China, but with ripple effects felt across various sectors and regions. As the Biden administration seeks to reverse some of these policies, analysts remain concerned about the long-term effects of trade disruptions that began during the previous administration. Trade relationships between the US and major economies have been restructured, pushing supply chains into new configurations and altering global market dynamics.
Citigroup’s latest forecast outlines how these global shifts impact emerging markets in particular, given their high exposure to US tariffs and trade restrictions. Countries in Asia, Latin America, and Africa are expected to see a slow recovery, as protectionist policies strain international trade and hinder foreign direct investment (FDI) inflows. For these nations, the US-China trade tensions have underscored their vulnerability to global supply chain disruptions. Export-dependent countries, particularly in the manufacturing and agriculture sectors, may face reduced market access to some of their largest trading partners, further hindering growth prospects.
Yet, some countries are managing to navigate these headwinds with relative ease. Saudi Arabia, buoyed by its ongoing economic reforms under the Vision 2030 initiative, appears to be one of the more resilient players in the face of these global shifts. The kingdom has significantly reduced its reliance on oil exports by developing non-oil sectors such as tourism, entertainment, and technology. Moreover, its vast sovereign wealth fund, the Public Investment Fund (PIF), has strategically invested in sectors poised for growth, such as green energy, healthcare, and artificial intelligence.
Saudi Arabia’s successful diversification strategies have positioned it to weather the storm of changing global trade conditions. Citigroup’s analysis highlights that while the US’s trade policies could dampen global economic growth, Saudi Arabia’s economic stability remains largely intact. The kingdom’s ability to maintain steady oil revenues, coupled with its ambitious reform agenda, has placed it at the forefront of efforts to build a more diversified, future-proof economy. Additionally, Saudi Arabia’s participation in major international investment initiatives, such as the Belt and Road Initiative and the G20 summit, further solidifies its standing as a key global economic player.
While many emerging markets struggle with inflationary pressures and a rising cost of living, Saudi Arabia has implemented strategic fiscal policies that keep inflation levels manageable. The country’s introduction of VAT and other tax reforms have helped bolster its financial resilience. Furthermore, the government’s commitment to large-scale infrastructure projects, such as NEOM, a futuristic city being built with cutting-edge technology, signals a strong push toward positioning the kingdom as a global hub for innovation.
However, despite these favorable conditions in Saudi Arabia, Citigroup warns that other emerging markets are not as fortunate. Nations heavily dependent on exports to the US and China, such as Mexico, Brazil, and South Africa, face significant challenges as they cope with reduced demand and trade restrictions. For these countries, the combination of trade disputes, inflationary pressures, and weaker currency values is likely to hamper economic growth in the short to medium term. Analysts also point out that the global interest rate hikes prompted by the Federal Reserve’s tightening policy may further strain emerging market economies, particularly those with substantial debt burdens.
For some countries, the trade environment under Trump’s policies has created structural weaknesses that continue to hinder growth. The slowdown in global demand for goods and services, coupled with rising costs for raw materials and energy, has impacted countries dependent on commodity exports. As a result, the broader emerging markets community is facing an uncertain recovery trajectory, with little optimism for a swift rebound.
Saudi Arabia’s resilience, however, is noteworthy in this context. The kingdom’s emphasis on economic diversification has shielded it from some of the more detrimental effects of global trade disruptions. This shift towards a more diversified economy has not only safeguarded the country’s economic standing but has also attracted international investors, further securing its position as a pivotal player in the global marketplace.
Dedicated to Promoting the Development of eVTOL Technology and Boosting the Low-altitude Economy in Hong Kong and the Greater Bay Area of China HONG KONG SAR – Media OutReach Newswire – 18 November 2024 – To support the Hong Kong Government’s initiative to develop the low-altitude economy, the Centre for Intelligent Multidimensional Data Analysis (CIMDA) at the City University of Hong Kong (CityU), a member of the […]
By K Raveendran Chief Justice Sanjiv Khanna’s tenure has had an eventful start with the Supreme Court delivering the landmark ‘bulldozer justice’ verdict that grabbed global headlines. That the verdict was delivered by a bench comprising Justices B R Gavai and K V Vishwanathan, of which the chief justice was not a part, is a […]
HONG KONG SAR – Media OutReach Newswire – 14 November 2024 – The Hong Kong Tourism Board proudly announces that this year’s Wine & Dine Festival attracted 155,000 Hong Kong residents and tourists. The Taste France pavilion was a major highlight, drawing crowds thanks to its engaging booth partners, dynamic activities, and a dedicated area for tastings and discussions. We are thrilled to share outstanding results from […]
SINGAPORE – Media OutReach Newswire – 15 November 2024 – Woh Hup, an esteemed name in the world of Asian sauces, proudly marks its 88th anniversary this year. Known for its delicious sauces, concentrated stocks, and instant noodles, Woh Hup has embarked on a remarkable journey fueled by a passion for crafting recipes that have stood the test of time, beloved by both professional chefs and homemakers. […]
