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Egypt at last opened the $1 billion Grand Egyptian Museum on Saturday as performers dressed in white tunics embroidered with designs inspired by ancient frescoes, greeted guests. "Today, as we celebrate together the opening of the Grand Egyptian Museum, we are writing a new chapter in the history of the present and the future," Egyptian President Abdel Fattah al-Sisi told a gathering of dignitaries, sitting in the museum's square. Cairo has pinned great hopes on the long-delayed museum, which is a key plank of plans to revive the tourism industry so vital to its troubled economy. It will be home to tens of thousands of objects dating back more than six millennia. The audience a the opening watched a spectacular display of light and music, with the pyramids towering in front of them. On giant screens above, scenes from celebrations in Tokyo and Rio de Janeiro played out against the backdrop of Egypt's ancient monuments. Dozens of performers dressed in elaborate Pharaonic costumes, their foreheads crowned with golden wreaths and sceptres in hand, played traditional tunes as a laser show depicting pharaohs and fireworks lit up the night sky above the museum. "It is a living testimony to the genius of the Egyptian human, who built the pyramids and inscribed on the walls the story of immortality," Sisi said, referring to the new institution. On Saturday morning, roads around the museum were cordoned off and security tightened ahead of the opening, with giant banners draped from buildings and strung across streets -- advertising the launch. "This is the dream that all of us imagined. We all dreamed that this project would be realised," Egyptian Prime Minister Mostafa Madbouly told a press conference in Cairo on Saturday. Set on a gentle slope overlooking the Giza Plateau, just beyond the shadow of the pyramids, the museum was built with major financial and technical support from Japan, and spreads across nearly half a million square metres. Madbouly said that the "largest part of construction, finishing and bringing this global landmark to its current form occurred during the past seven to eight years". More than two decades in the making, the GEM faced multiple delays due to setbacks related to political unrest, regional conflicts and the Covid-19 pandemic. The museum houses more than 100,000 artefacts, half of which will be on display, making it the world's largest collection devoted to a single civilisation, according to Egyptian officials. Inside, visitors will enter vast, light-filled halls with soaring ceilings and sand-coloured stone walls that echo the surrounding desert. At the centre of the main atrium stands an 83-tonne statue of Ramses II, the pharaoh who ruled Egypt for 66 years and presided over its golden age. Unlike the cramped, century-old Egyptian Museum in central Cairo, the GEM features immersive galleries, precision lighting, virtual-reality exhibits and even a children's museum. One highlight is a live conservation lab, visible through floor-to-ceiling glass, where visitors can watch restorers assembling a 4,500-year-old solar boat buried near Khufu's pyramid, built to carry his soul across the sky with the sun god Ra. The undisputed star of the show, however, is King Tutankhamun's collection of more than 5,000 objects, many displayed together for the first time. The museum opens to the public on Tuesday, showcasing thousands of funerary artefacts previously scattered across Egypt. Egypt's tourism sector, a vital source of foreign currency and jobs, has been repeatedly shaken over the past decade and a half, from the 2011 uprising to waves of unrest and sporadic terrorist attacks in the aftermath. In recent years, tourism has shown signs of recovery, with 15 million visitors travelling to Egypt in the first nine months of 2025 and generating $12.5 billion, up 21 percent from a year earlier. Egyptian tourism minister Sherif Fathy expected on Saturday total tourist arrivals to stand at 18 million by the end of this year. He told reporters the government expects the museum to draw five million visitors annually, adding that it currently welcomes 5,000 to 6,000 visitors each day. "We hope to increase that to 15,000 daily," said Fathy.

After years of delays, Cairo is finally set to open the Grand Egyptian Museum on Saturday -- a long-awaited, billion-dollar showcase of pharaonic grandeur that Egypt hopes will help revive tourism and boost its troubled economy. Seventy-nine delegations, including 39 heads of state and government, are expected at the ceremony, which begins at 7:30 pm local time (1730 GMT). Germany, Japan, Saudi Arabia, Belgium, Spain and Denmark will be among those sending representatives, according to a statement from the Egyptian presidency. In the nights leading up to the opening, shafts of light have illuminated both the pyramids and the museum's colossal facade -- a prelude to Saturday's spectacle. Set on a gentle slope overlooking the Giza Plateau, just beyond the shadow of the pyramids, the museum was built with major financial and technical support from Japan, and spreads across nearly half a million square metres. It houses more than 100,000 artefacts, half of which will be on display, making it the world's largest collection devoted to a single civilisation, according to Egyptian officials. Inside, visitors will enter vast, light-filled halls with soaring ceilings and sand-coloured stone walls that echo the surrounding desert. **media[375988]** At the centre of the main atrium stands an 83-tonne statue of Ramses II, the pharaoh who ruled Egypt for 66 years and presided over its golden age. Unlike the cramped, century-old Egyptian Museum in central Cairo, the Grand Egyptian Museum (GEM) features immersive galleries, precision lighting, virtual-reality exhibits and even a children's museum. One highlight is a live conservation lab, visible through floor-to-ceiling glass, where visitors can watch restorers assembling a 4,500-year-old solar boat buried near Khufu's pyramid. The undisputed star of the show, however, is King Tutankhamun's collection of more than 5,000 objects, many displayed together for the first time. The museum opens to the public on Tuesday, showcasing thousands of funerary artefacts previously scattered across Egypt. Setbacks More than two decades in the making, the GEM faced multiple hurdles, including political unrest, regional conflicts and the Covid-19 pandemic. Observers caution that its long-term success depends on stable tourism and strong supporting infrastructure. Egyptian archeologist Hussein Bassir said the museum's future hinges on "regular maintenance to preserve the building and its treasures". "If the current momentum is not maintained, the museum could quickly lose its appeal and visitor numbers could drop," he told AFP. Egypt's tourism sector, a vital source of foreign currency and jobs, has been repeatedly shaken over the past decade and a half, from the 2011 uprising to waves of unrest and sporadic terrorist attacks in the aftermath. **media[375986]** Elhamy al-Zayat, former head of the Egyptian Tourism Federation, told AFP the museum was part of a broader plan to transform the entire Giza Plateau. "Egypt has created an entirely new cultural and tourist zone" at the plateau, with a nearby airport and upgraded visitor facilities at the pyramids, he said. Roads leading to the plateau have been refurbished, digital ticketing introduced and air-conditioned electric buses now glide past the pyramids. In recent years, tourism has shown signs of recovery, with 15 million visitors travelling to Egypt in the first nine months of 2025 and generating $12.5 billion, up 21 percent from a year earlier. Officials believe the GEM alone could draw up to seven million visitors annually, potentially bringing total visitor numbers to 30 million by 2030. Yet some observers are cautious, saying regional instability, including the conflicts in Gaza and Sudan, as well as economic pressures, threaten to challenge the museum's potential to deliver a major boost for Egypt's tourism sector.

The Chinese planning season is in full swing. Ahead of the formal release of the 15th Five-Year Plan (running from 2026-2030) in March 2026, early signs coming out of the just-completed Fourth Plenum of the Communist Party of China suggest that it will be more of the same: a focus on continuing China’s extraordinary industrial and technological ascendancy, driven by what Chinese President Xi Jinping has called “new productive forces”. That would be a mistake in the following sense: China’s techno-industrial prowess is so well established that it is unnecessary to dwell on the obvious. The planning exercise should instead aim to tackle the country’s most daunting challenge: a long-awaited consumer-led rebalancing. To that end, the 15th Five-Year Plan should set an explicit target of boosting household consumption as a share of GDP from its latest reading of nearly 40-50% by 2035. By now, the debate over rebalancing has dragged on for decades. It was first raised in March 2007 by former Premier Wen Jiabao as the second of his now-famous “four uns” – unstable, unbalanced, uncoordinated, and unsustainable – that, he argued, jeopardised the seemingly strong Chinese economy. Of course, “unbalanced” is only an elliptical reference to the Chinese consumer. But in the context of all four uns, it raises what has since become the most important structural issue for the Chinese economy: the need to find new sources of growth. While Chinese authorities have been especially adept at addressing the first “un” (instability), as demonstrated during the global financial crisis of 2008-09 and the Covid-19 pandemic, the fourth “un” is where the rubber meets the road for the political promise of Xi’s Chinese Dream. If its economic growth is unsustainable, China will fall short of its aspirational goal of becoming a “great modern socialist country,” with living standards similar to advanced economies, by mid-century. According to my calculations, that will require China’s real per capita GDP growth to reach 5.75% per year over the 2030-49 period – a significant pickup from the 4.25% pace of 2022-30, but well short of the 8.4% average between 1981 and 2021. Achieving this won’t be easy, because many of China’s most powerful growth engines are tapped out. The beleaguered property sector is likely to remain under downward pressure for years to come. China’s seemingly resilient export sector will almost surely be buffeted by rising protectionism. Even all-powerful fixed-asset investment, which currently accounts for around 40% of Chinese GDP, is reaching its limit. By process of elimination, that puts the onus on the Chinese consumer to fill the gap. I have been hammering home this point since Wen first articulated the four uns, and others have come to the same conclusion. But while the Chinese government always mentions boosting consumer demand when discussing its economic challenges, it comes alongside a raft of other goals, from spurring employment growth and addressing income inequality to developing alternative energy and indigenous innovation. What an unbalanced Chinese economy actually needs is a single-minded focus on invigorating the Chinese consumer’s role as a more powerful driver of growth. I do not mean to suggest that China should walk away from all that it has accomplished over the past 50 years, especially its recent technological advances. Nor am I suggesting that China revert to its central-planning legacy in an attempt to steer its economy in a different direction. To me, a target and a plan are two different things: A plan provides a broad strategic framework, whereas a target specifies a numerical objective that is consistent with that plan. China can walk and chew gum at the same time – it can both plan and target. Admittedly, a household consumption-to-GDP ratio of 50% would be a tough target to hit; my estimates suggest that it would require household consumption to grow twice as fast as the rest of the Chinese economy. That outcome may seem unlikely, but it is doable, given the weakness expected in housing, exports, and fixed-asset investment. China’s consumption target should be viewed as akin to price-stability or full-employment goals in the West. We call them “mandates,” but that’s just another word for targets. Setting such targets is useful for the management of any economy, providing focus and encouraging accountability. The bottom line is that the time has come for China to establish an explicit household-consumption target. How Chinese leaders shape their policies to hit this target is of course up to them. I have long favoured strengthening the social-safety net to reduce high levels of fear-driven precautionary saving in a rapidly aging society. Others have focused on reforming the antiquated hukou (residency permit) system, especially for migrant workers, raising the retirement age, developing the “silver economy”, and, the government’s recent favourite, implementing trade-in campaigns for consumer durable goods. At this point, I care less about the debate over the most effective policies and more about the commitment to a specific rebalancing goal. Over the years, I have learned that China excels in tackling such challenges. If the 15th Five-Year Plan were to set a clear target of raising household consumption to 50% of GDP by 2035, I am confident that Chinese policymakers would then settle on the right mix of pro-consumption measures. A new target would go a long way toward forcing Chinese leaders to resolve what has become a tedious and now increasingly urgent debate. As Wen presciently warned almost 19 years ago, failure to rebalance the Chinese economy is not a sustainable option. – Project Syndicate Stephen S Roach, a faculty member at Yale University and former chairman of Morgan Stanley Asia, is the author of Unbalanced: The Codependency of America and China (Yale University Press, 2014) and Accidental Conflict: America, China, and the Clash of False Narratives (Yale University Press, 2022).

In the post-Covid world, lifestyle priorities have shifted dramatically, with travel emerging as a key avenue for personal wellbeing and self-care. Among the most notable developments in the tourism sector is the remarkable surge in women-only travel. More women than ever are seeking safe, empowering, and stress-free experiences that allow them to step away from the pressures of daily life, according to travel experts.This trend spans all age groups, with women traveling solo, with friends, or in small organized groups to destinations around the globe. Social media platforms such as Instagram, Facebook, TikTok, and Pinterest have become crucial sources of inspiration. They help women discover new destinations, share experiences, and connect with like-minded travellers.This surge reflects not only a desire for adventure but also a broader shift toward independence, empowerment, and redefining how women experience the world.Shahana Ilyas, a Qatar-based group leader who organises women-only travel adventures, shares her perspective:"Women carry many responsibilities in everyday life, and many seek a break from their hectic routines," she says. "As a group leader, I try to include as many participants as possible. I negotiate with travel agencies to ensure trips remain affordable for everyone."She adds, "Often, husbands encourage their wives to join these trips. They take care of responsibilities at home, including children, to provide their wives with a much-needed break. It’s a positive sign of the changing world today."This sense of camaraderie, encouragement, and shared empowerment is a defining feature of women-only travel. Many travellers report that women-only groups allow them to explore more freely, try new activities, and engage with cultures in ways they may not feel comfortable doing in mixed-gender groups.**media[375224]**Why women-only travel is boomingWomen-only group travel is experiencing a surge in popularity for several key reasons. These trips provide a safe and supportive environment where participants can connect, share experiences, and enjoy the companionship of like-minded travellers. While traveling in a group, women can explore new destinations with confidence, knowing they are in a secure and comfortable setting.Beyond safety, group travel offers opportunities for adventure, self-discovery, and empowerment. Many women increasingly value experiences over material possessions, and these trips allow them to step away from daily routines and fully immerse themselves in new experiences.Seena Manojkumar, who recently travelled to Georgia from Qatar with a group of seven women, shares her experience: "Our group had visited several Indian cities before, but we had always dreamed of exploring an international destination together. Visiting Georgia, taking photos in traditional Indian sarees, and sharing this experience was truly unforgettable."She adds, "Joining women-only trips has also given me the confidence to travel alone. I now feel capable of planning my own trips independently, without relying on anyone else."**media[375222]**A Boost to tourismIndustry experts note that this trend is contributing significantly to the global tourism economy. Hotels, airlines, and tour operators are tailoring services specifically for women, from female-only accommodations and guided tours to wellness retreats and networking travel experiences.Firos Nattu, Co-Founder and General Manager at GoMosafer, which organises many female-only trips from Qatar, attributes the surge to several practical and psychological factors:"Advancements in technology allow women to stay connected while travelling abroad," he says. "This reduces insecurity and gives peace of mind to participants and their families."He adds, "Group tours give women the freedom to explore their interests in a supportive, judgment-free environment. They can take a break from daily responsibilities and traditional roles.""Additionally, travel has become more accessible thanks to a wider range of flight options, lower fares to many international destinations, including European countries, and the availability of safe, private homestays," he says. "As a result, inquiries for female-focused travel packages have risen significantly, and we have successfully organized numerous trips for women’s groups from Qatar."More than just a tripBeyond sightseeing, women-only travel offers a range of mental and wellbeing benefits. It provides a safe, comfortable space for relaxation, social connection, and personal empowerment.Sara Ahmed, a Doha-based mental health expert, explains:"Women feel more at ease being themselves without worrying about being watched or judged," she says. "This leads to greater relaxation and enjoyment during the trip."She continues, "These trips allow participants to step away from daily pressures, focus on self-care, and reflect on personal growth. They offer a therapeutic escape that nurtures both mind and body. Such breaks help women return to their daily routines with a refreshed mind, enabling them to perform at their best—whether managing family responsibilities or excelling at work.As more women embark on these journeys, the trend is expected to continue shaping the global travel industry, providing opportunities for women to explore the world, build confidence, and recharge from the demands of modern life.

Mesaieed Petrochemical Holding (MPHC) – a holding company of Q-Chem, Q-Chem II and Qatar Vinyl Company – has reported a net profit of QR520mn for the nine-month (9M) ended September 30, 2025.MPHC’s operational performance has remained strong and adaptive, with overall production levels showing an improvement (+8%) in 9M-2025 from both segments, primarily attributed to enhanced plant reliability and increased operational efficiencies.However, net earnings fell 8% on an annualised basis, driven by lower average selling prices (-6%), negatively impacting revenue (-2%) to QR2.07bn. This price weakness was largely attributable to prevailing macroeconomic headwinds, softer global demand conditions, and overall market volatility.MPHC however achieved higher sales volumes (+4%) versus 9M-2024, supported by improved operational performance across both segments, contributing significantly to the overall volume growth.In line with the revenue decline, Ebitda (earnings before interest, taxes, depreciation and amortisation) shrank 18% against 9M-2024, on weaker top-line performance. Ebitda margins narrowed to 39%, reflecting the impact of reduced average selling prices across both segments.MPHC maintained a strong liquidity position, reflected in healthy cash and bank balances (of QR3.3bn).However, these balances fell, primarily due to the distribution of final dividends for 2024, the interim dividend for the first half of 2025, and MPHC’s financial contribution towards the PVC project. This reduction was partially offset by robust cash flow generation throughout the current reporting period.The petrochemical segment's net profit was QR477mn in 9M-2025, a 21% jump year-on-year despite challenging market backdrop. Strong operational execution — marked by higher production (+14%) and sales volumes (+9%) — combined with disciplined cost management to drive this performance. Revenues rose 3% year-on-year to QR1.57bn in 9M-2025.The chlor-alkali segment reported a net loss of QR14mn in January-September 2025 compared with net profit of QR68mn a year-ago period. The downturn was primarily driven by lower average selling prices (-15%), which fell to levels last seen during the peak of the Covid-19 pandemic.The price weakness was fuelled by persistent macroeconomic pressures, sluggish downstream demand, and reduced construction and industrial consumption. Additionally, elevated global inventory levels and declining crude prices further weighed on market sentiment.Sales volumes recorded a marginal decline (of 1%) despite higher (1%) production supported by improved plant availability and stronger operational performance. However, severe market challenges pushed the segment into a net loss position in 9M-2025, further pressuring margins.Highlighting that the global petrochemical industry faced significant challenges in 9M-2025, driven by structural overcapacity, weak demand, and rising sustainability pressures; MPHC said post-pandemic investments in new ethylene crackers, polyethylene, and derivative units have far outpaced demand growth, pushing operating rates for base chemicals like ethylene and propylene to multi-decade lows.

Direct flights between India and China have officially resumed after a five-year hiatus, marking a notable step towards normalisation of relations between the world’s two most populous nations, neighbours, and rapidly growing major economies.Earlier this week, an IndiGo flight departed from Kolkata and landed in Guangzhou after a three-and-a-half-hour journey, restoring a vital air link that had been suspended since early 2020 following the Covid-19 pandemic.The pause in flights was prolonged following a deadly border clash in the Himalayas that sharply escalated tensions between the two nuclear-armed neighbours.In recent months, however, both sides have taken concrete steps to ease frictions. The two countries reached an agreement last year on military disengagement along their disputed frontier and have since resumed high-level diplomatic dialogue for the first time in five years.Confirming the resumption of flights, a spokesperson for the Chinese Embassy in India announced on X, “Direct flights between China and India are now a reality.”Further connectivity is expected in the coming days. China Eastern Airlines will restart its Shanghai–Delhi service on November 9, while IndiGo plans to launch a new Delhi–Guangzhou route on November 10.According to India’s Ministry of External Affairs, the restoration of direct air links will “facilitate people-to-people contact” and contribute to “the gradual normalisation of bilateral exchanges.”The revival of air travel comes amid a broader improvement in India-China relations, a clear sign of thawing relations between the two nuclear-armed neighbours.Indian Prime Minister Narendra Modi made his first visit to China in seven years this August, followed by a reciprocal visit to India by Chinese Foreign Minister Wang Yi later that month.During his trip, Prime Minister Modi reaffirmed India’s commitment to advancing ties “on the basis of mutual trust and respect”, noting progress in stabilising border tensions and expanding cooperation.Earlier this year, the Chinese Ambassador to India revealed that China had issued over 80,000 visas in the first four months of 2025, reflecting a steady increase in exchanges. Reports indicated that the Chinese Embassy has also simplified short-term visa procedures by removing the requirement for online appointments and biometric data collection.Before the pandemic and the subsequent border tensions, air connectivity between the two nations was robust, with more than 500 weekly flights in 2019.Both Air India and IndiGo had operated services to China, while Chinese carriers such as China Eastern maintained regular routes to Indian cities.The reinstatement of direct flights is expected to deliver significant economic and social benefits with trade, business and education sectors in the two countries becoming huge and immediate beneficiaries.For industry, the move will streamline logistics by allowing direct shipments between the two countries, reducing both transit times and costs associated with third-country routing.Business travellers are likely to be among the biggest beneficiaries, as the restored connections will save valuable time and support closer commercial engagement.The change will also facilitate greater mobility for students—both Chinese students pursuing studies in India and Indian students attending universities in China.Analysts say the return of direct air links underscores a cautious yet meaningful warming in India-China relations, signalling a shared interest in rebuilding cooperation and restoring normalcy after years of strained ties.Prominent aviation analyst Ashwini Phadnis noted: “Given the push that the Indian and Chinese government have been giving for more people to people contact, the starting of direct flights between the two neighbours was a question of time. This was reached this month.”Phadnis said the genesis for the start of direct flights can be traced back to December 2024 when the meeting of the Special Representatives of the two countries – National Security Adviser Ajit Doval and Wang Yi, Member of the Political Bureau of the Communist Party of China Central Committee and Foreign Minister – in December in Berlin last year.“Probably, the biggest gainer will be industry as shipments will now arrive directly than coming through a third country which is a time consuming and expensive proposition. This move will also benefit the business community, which will now save time in travel. It will also help Chinese students wanting to come to India for further studies and Indian students wanting to study in China,” the New Delhi-based Phadnis said.Pratap John is Business Editor at Gulf Times. X handle: @PratapJohn.

Equipment is in place, registration and scrutineering is over and the world’s finest aquabike riders are now making their final preparations for the start of the Old Doha Port Grand Prix of Qatar Wednesday morning.The new venue is hosting the finale to this year’s UIM-ABP Aquabike World Championship under the auspices of the UIM and the guiding hands of Aquabike Promotion and the Doha Marine Sports Club (DMSC).**media[374833]**Riders and team personnel busied themselves with fine tuning their skis after the recent round of the series at Olbia in Sardinia. Ten years ago, the last Qatar race was held in Doha Bay along the Corniche adjacent to the iconic Sheraton Hotel. On this occasion, the Old Port area around the Corniche will host the weekend’s action.Quinten Bossche is the defending Ski Division GP1 World Champion and is making his first appearance in Qatar with the Grand Prix returning after that 10-year absence. He has three Moto wins and three retirements so far this season and is arguably one of the fastest racers on the UIM-ABP tour.**media[374832]**The Ostende-based Belgian said: “I have lost too many points in the championship to do something so I just need to do some good results. With some good luck, I could maybe still finish third. When you come here, especially as the World Champion, you come here for a victory. I try and do my best, set the boat up and finish all the races this time and go for the victory in the GP.“Personally, I would have loved to see the course on the other side (Doha Bay). I like the waves. I think, as a pro ski racer, that is what you like to battle against the weather. For me, that’s a big thing. I love waves and all of the challenge. It puts everybody back at zero. It’s pure skill and the ski doesn’t make a difference any more. I do think with the walls and the fact we have 23 riders (Ski GP1), it’s still going to be a rough race. Everyone has the same issues with the heat. Just stay hydrated and rest.”**media[374834]**Jessica Chavanne is the defending European champion and a former World Champion. Boat damage in Sardinia has now ruled her out of overall title contention but the French girl is looking forward to her first ever race weekend in Qatar. Speaking before a brief ski shakedown on Wednesday afternoon, she said: “I think it will be a good race. I had a delamination on the side of the ski in Sardinia and my hull was under the water. The marshals saved my ski and I had a big shock. That’s why I feel a bit sick. I am really grateful that I had nothing else (injury).“The first goal is to take pleasure. In Indonesia, I had the covid, in Olbia the problem with the hull and now I want to give everything I can and after that we will see. We will make a set-up for me to be more comfortable.”Thursday timetable sees the free practice sessions for the Runabout GP2 Asian Continental Championship fire into life from 09.30hrs and precede nearly two hours of practice for the Ski Ladies GP1, Ski Division GP1, Runabout GP1 and Freestyle competitors.Thursday afternoon will be dominated by the various qualifying and pole position sessions.

The S&P 500 is on course to have the most companies delivering sales beats in about four years this earnings season, with Corporate America seeming to cope just fine with the impact of tariffs.Almost 70% of index members to have reported so far have exceeded third-quarter sales estimates, according to a Bloomberg Intelligence earnings tracker. That’s the highest proportion of positive surprises since the post-Covid revival in the final three months of 2021.US companies appear to be fairly unscathed by tariffs so far, protecting their margins through a combination of price increases and cost cuts. Meanwhile, the magnitude of the sales beats is also near the highest since the post-pandemic boom: companies have exceeded estimates by 2.4% in aggregate, against a historical average of 0.5%, according to strategists at Deutsche Bank AG.“Sales beats have correlated well with inflation surprises historically and likely partly reflect the impacts of tariffs on pricing this time,” Deutsche Bank’s Bankim Chadha and Parag Thatte wrote in a note.Meanwhile, with readings on the US economy and job market still holding up, and further interest rate cuts from the Federal Reserve on the way, the profit outlook is looking increasingly brighter for 2026.“It’s early in earnings season, but this could be an initial indication that top line growth is firming into next year, in line with our view,” wrote Morgan Stanley strategists led by Michael Wilson. His team sees revenue beats running at double the historical rate as the “standout” feature of this earnings season.The view among most Wall Street strategists is that the strongest earnings and sales growth remains concentrated in megacap and technology stocks. But other sectors are delivering decent profit increases, helped by favorable comparables. Financials, real estate, materials and utilities are all showing double-digit earnings gains so far, according to Deutsche Bank strategists.Even so, the flurry of beats isn’t keeping everyone bullish. The current positive trend may not be easy to sustain, according to RBC Capital Markets strategist Lori Calvasina.“We think earnings are providing a solid foundation for the US equity market, but that it will be difficult to replicate the same kind of surge in earnings optimism that helped power markets higher in the last reporting season,” Calvasina said.There’s still a long way to go this season, with companies accounting for 50% of the S&P 500 market capitalisation due to report this week, including most of the large artificial intelligence hyperscalers like Microsoft Corp Alphabet Inc and Meta Platforms Inc.Still, the positive beginning is keeping sentiment upbeat, especially given encouraging news on trade negotiations, strong earnings from banks and financial firms and increased forecasts from a majority of companies.JPMorgan Chase & Co strategists led by Dubravko Lakos-Bujas note that about 66% of companies have had “double beats” of sales and net income compared with just 51% over the last four quarters, based on constant index constituents.They also note that that for 2026, EPS estimates have been revised up by 0.3% to $305.03, a 14.1% year-on-year increase. That “implies growth acceleration to above-trend next year,” according to Lakos-Bujas and his colleagues.

Qatar Red Crescent Society (QRCS) has completed a multi-specialisation medical convoy in Guyana, funded by Qatar Fund for Development (QFFD).During the seven-day mission, the volunteering medical team from Hamad Medical Corporation and Sidra Medicine examined a total of 140 patients and performed 48 major surgeries, in light of the needs specified by the Ministry of Health, as follows: 16 cardiac catheterisations, 13 cancer surgeries, four paediatric gastrointestinal surgeries, and 15 urology surgeries.Apart from the medical team, there was a delegation from QFFD and QRCS, headed by Mohamed Ahmed al-Beshri, assistant secretary-general, Communication and Resource Development at QRCS. Members of the delegation included Dr Izzadeen Gaffar, coordinator, Medical Convoys Project at QRCS and Yousef al-Mulla, acting director of Humanitarian Aid Department at QFFD. They were received by Mohamed Ibrahim al-Rumaihi, Chargé d’Affaires at the Embassy of Qatar in Guyana, who helped facilitate the delegation’s mission and coordinate with local authorities.Two training workshops were delivered by the gynaecology and urology consultants for 38 local doctors. In addition, 30 medical professionals received on-the-job training during the procedures,Georgetown Public Hospital Corporation was supported with the medical supplies and equipment needed for cardiac catheterisation and specialised surgeries, helping upgrade the hospital’s resources and ensure continued services following the end of mission.Dr Mohamed Irfaan Ali, President of Guyana, held a special reception for the Qatari delegation, in the presence of al-Rumaihi. He praised Qatar’s support for his country during the Covid-19 pandemic, through the deployment of a fully equipped field hospital and the provision of ventilators and vaccines.

Star Wars: Starfighter is filming in Britain, soundstages in Hungary are packed and post-production houses in Australia are humming, as the global film industry keeps rolling despite US President Donald Trump’s renewed threats to impose tariffs on movies made outside of the US. Trump has proposed levying a 100% tariff on films produced overseas to stem the loss of film jobs to production hubs around the world, reviving an idea he first broached in May. The initial call for tariffs jolted the film world, and temporarily halted projects and international movie finance deals as producers evaluated the potential impact of the levy on each project’s financial viability, two sources familiar with Hollywood motion-picture financing told Reuters. This time around, the reaction has been more muted. “Other than the initial flurry of ‘Oh, he’s said it again,’ people are not taking it as seriously as they did the first time around,” said Lee Stone, a partner at London law firm Lee & Thompson, who worked on the Emmy-winning Netflix show Adolescence. Trump initially called for a 100% tariff on movies produced outside the country in early May, to stave off the “very fast death” of the American film industry as incentives lured filmmakers to production hubs around the world. The announcement — just weeks before the Cannes Film Festival — caused a panic. “It was terrible timing. Everyone was saying, ‘What’s going to happen?’” said Stone, noting that Trump’s threat resulted in temporary paralysis. “I’m not getting the impression that there’s the same pause this time.” Newly released data from industry researcher ProdPro reveals that while overall spending is down 15% from last year, amid a pullback in scripted television series and big-budget feature films, there is no evidence that Hollywood is abandoning global production hubs. “We’re not seeing anything in the data that suggests studios are opting to film more of their production in the US because of concern about the tariffs,” said ProdPro CEO Alexander LoVerde. The US remains the industry’s largest production hub, accounting for $16.6bn in spending over the last 12 months, according to ProdPro. However, Hollywood studios and streaming services spent even more — $24.3bn — on film and television projects produced outside the US over that same period, ProdPro reported, as they took advantage of tax credits, lower labour costs and world-class soundstages. The United Kingdom has become a major beneficiary of the Hollywood exodus, attracting $8.7bn in film and scripted TV spending over the past year, including major film productions like Star Wars: Starfighter, the much-buzzed-about next entry in the “Star Wars” saga set for release in May 2027. Canada comes in a close second with $6.4bn, according to ProdPro’s most recent report on production trends. Other regions — Australia, Ireland, Hungary and Spain — together accounted for nearly one-quarter of all production. The Covid-19 pandemic and the Hollywood strikes by US writers and actors supercharged the exodus that began years earlier. “Australia became a bit of a production bubble where particularly in Queensland, productions could continue even as the rest of the world shut down,” said University of Melbourne film expert Kirsten Stevens. Prague increased its tax breaks from 20% to 25% in January, while Britain offers relief of 25.5% on qualifying films and TV productions, with a higher rate for animated films and a new credit for smaller independent films. In places like Central Europe, a deep filmmaking tradition and lower labour costs have attracted a long list of Hollywood films including the Russo brothers’ The Gray Man, Netflix’s Oscar-winning All Quiet on the Western Front in the Czech Republic, and Warner Bros Studios’ Dune: Part Three, which began shooting this summer in Hungary. “Hungarian soundstages are currently operating at full capacity with both international and domestic productions,” Csaba Kael, government commissioner for the development of the Hungarian Motion Picture Industry, told Reuters. Any change in US trade policy would take time to implement, Kael said. Hollywood studios have found that distributing work across multiple locations can accelerate the production timetable, allowing films to be completed faster and cheaper. “It’s not uncommon at high-end films that a bunch of work would come to Australia, but a bunch of work also might go to New Zealand and to London and to somewhere else,” said Mike Seymour, Emmy-nominated visual effects specialist and lecturer at the University of Sydney. “Sometimes the film is being worked on literally 24 hours a day because of all the time zones,” he said. For the moment, it is business as usual for filmmakers, said Stephen Weizenecker, an entertainment lawyer with Barnes & Thornburg in Atlanta. They are hoping to avoid any interruption that throws off the schedule of a production, which can result in actors, directors or even a filming location being unavailable. “The film industry dislikes uncertainty,” Weizenecker said. “Once it starts to hesitate, it means a project stops altogether.” A coalition of American film industry unions and guilds, joined by veteran actor Jon Voight, has asked Trump to consider implementing a federal tax incentive to put domestic film production on a more competitive footing with incentives offered in other countries. “What we really want is a national tax incentive that would be more effective than any tariffs,” one studio executive said. Meanwhile, a bill with bipartisan support, known as the CREATE Act, was introduced in the US Congress this past summer. It would extend a tax deduction for US productions, which is set to expire in December, and increase the cap on deductible costs. The looming threat of tariffs raises concern about the potential impact on the economy and livelihoods in production hubs around the world, if Trump follows through. “It is hard for anyone here to understand the likelihood of this coming into effect, but if it did, it would have a huge impact,” said a visual artist in the industry who declined to be named over fears of losing financing. “It would be devastating.” — Reuters

The global economy seems to be “doing better than feared” and has proven “more resilient than expected”, despite acute strains from multiple shocks around the world. According to the International Monetary Fund (IMF), the global economy is “adjusting to a landscape reshaped” by new policy measures. Some extremes of higher tariffs (triggered by US policies) were tempered, thanks to subsequent deals and resets. But the overall environment remains “volatile”, and temporary factors that supported activity in the first half of 2025 — such as front-loading — are “fading”, IMF noted recently. As a result, global growth projections in the latest World Economic Outlook (WEO) are revised upwards relative to the April (2025) WEO but continue to mark a downward revision relative to the pre-policy-shift forecasts. After a resilient start, the global economy is showing signs of a moderate slowdown, as predicted. Incoming data in the first half of 2025 showed robust activity. Global growth is projected to slow from 3.3% in 2024 to 3.2% in 2025 and 3.1% in 2026, with advanced economies growing around 1.5% and emerging market and developing economies just above 4%. Inflation is projected to continue to decline globally, though with variation across countries: above target in the United States — with risks tilted to the upside — and subdued elsewhere. Inflation in Asian economies was subdued, while it remained steady in the United States. This apparent resilience, however, seems to be largely attributable to temporary factors — such as front-loading of trade and investment and inventory management strategies — rather than to fundamental strength, the IMF noted. As these factors fade, weaker data are surfacing. The front-loading is unwinding, and labour markets are softening, it said. Pass-through of tariffs to US consumer prices, previously muted, appears increasingly likely. Advanced economies, traditionally reliant on immigration, are seeing sharp declines in net labour inflows, with implications for potential output. On an end-of-year basis, global growth is projected to slow down from 3.6% in 2024 to 2.6% in 2025. Advanced economies are forecast to grow about 1½ percent in 2025–26, with the United States slowing to 2%. On the other hand, the world trade volume is forecast to grow at an average rate of 2.9% in 2025–26 — boosted by front-loading in 2025 yet still much slower than the 3.5% growth rate in 2024 — with persistent trade fragmentation limiting gains. Further escalation of protectionist measures, including non-tariff barriers, could suppress investment, disrupt supply chains, and stifle productivity growth around the world. Larger-than-expected shocks to labour supply, notably from restrictive immigration policies by some Western countries, could reduce growth, especially in economies facing aging populations and skill shortages. The IMF’s global growth forecast (of roughly 3%) over the medium-term, is well below the 3.7% forecast before the Covid-19 pandemic. IMF Managing Director Kristalina Georgieva cited deep undercurrents of marginalisation, discontent and hardship around the world, and said the global economy faced an array of risks, including a potential market bubble around artificial intelligence. Uncertainty is at exceptionally high levels and continuing to climb, while demand for gold — a traditional safe-haven asset — is surging, Georgieva said. Clearly, the IMF has lifted its outlook for global growth this year, flagging a milder-than-expected economic hit, mainly from President Donald Trump’s tariff policies while warning of risks ahead.

The 11th edition of the Katara Festival for Arabic Novel continued Friday.The festival will continue until tomorrow, featuring seminars, discussion panels, and the launch of new publications.A seminar titled "The Novel and the Aesthetics of Translation" was held Friday, discussing the relationship between narrative creativity and linguistic and cultural context, and translation as a bridge between languages.Speaking at the seminar were novelist Mohamed Suleiman al-Shazly, translator Sameh Kroum, and translator Kholoud Amr, and it was moderated by Dr Hanaa al-Bawab.A dialogue session was held with writer Abdel Aziz al-Sayed about his novel *The Carnation Seller, moderated by journalist Mohamed Dahou.A seminar was also held on "The Novel: From Text to Reader: Marketing Mechanisms and the Horizon of Dissemination".Speakers were novelist Jalal Barjas, sales and marketing specialist Aya al-Zein, and digital marketing specialist Jibril Kahlout.The seminar addressed the writers’ relationship with their audience via social media, the role of literary awards in disseminating Arabic books, and the concept of digital marketing.Another seminar highlighted "The Novel and Television Drama in the Gulf: From Written Narration to Spoken Image".Speakers were writer Dr Marzouq Bashir, media personality Mirza al-Khuwailidi, director Rashid Malhas, and writer Mohammed al-Nashmi.The seminar was moderated by Dr Fahd al-Hindal.Meanwhile, the Katara Book Fair, held as part of the 11th Katara Novel Festival, witnessed the launch of the latest publications from some of the participating publishing houses.Katara Publishing House launched the book *Financial Oversight During Crises: A Reading of Lessons Learned from the Coronavirus Crisis" by Dr Salwa Hamed al-Mulla.The book addresses the impact of the coronavirus (Covid-19) pandemic and the challenges it has posed to the economy and productivity.Dar Rosa launched several of its recent publications, including *Coffee with a Little Fascism by Sheikh Nawaf bin Mubarak al-Thani, a book on digital photography by Abdullah al-Jassim, and *Fresh Thoughts by Jassim Abdulrahman al-Khouri.