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President of the 80th Session of the United Nations General Assembly Annalena Baerbock stressed that Qatar’s support for the the United Nations is a leading example, praising the country’s role as an international mediator in conflict resolution and its active contribution to social development. In statements to Qatar News Agency (QNA), Baerbock explained that the Second World Summit for Social Development in Doha underscores the need to move from promises to implementation through concrete action in areas such as education, employment, and social justice, thus contributing to achieving social benefits and healthcare for all people. She highlighted the importance of promoting social development and achieving global justice, noting significant progress in certain economic and social indicators despite ongoing challenges in other parts of the world. President of the 80th Session of the United Nations General Assembly said that the unemployment rate in Qatar stands at around 1%, while in some other countries it reaches 30%, reflecting the persistent gap among nations in benefiting from the fruits of social development. She stressed that failure to address crises such as hunger exacerbates displacement and migration, emphasising the need to break this vicious cycle by working on the three main pillars of the United Nations: peace and security, social development, and human rights. Baerbock added that the summit aims to accelerate progress toward achieving the 17 Sustainable Development Goals (SDGs), noting that all goals are interconnected and cannot be achieved in isolation, especially amid global climate challenges that affect food security. She also pointed to the importance of linking the Doha Summit with the Climate Change Conference to be held in the Amazonian city of Belem, Brazil, and the role of nationally determined commitments in reducing carbon emissions. She affirmed that investment in renewable energy benefits strong economies and enhances their competitiveness. The president of the UN General Assembly emphasised the importance of international co-operation to achieve social justice, explaining that global challenges know no borders, and that the experience of the Covid-19 pandemic demonstrated the necessity of international collaboration in providing vaccines and addressing health crises. In conclusion, the President of the 80th Session of the United Nations General Assembly Annalena Baerbock told QNA that supporting UN agencies, including the World Food Programme, is vital to preventing hunger and human suffering in countries such as Sudan, stressing that immediate funding and support are essential to ensuring a dignified life for people around the world.

The US Federal Reserve may soon need to grow its balance sheet through bond purchases and could consider shortening the average duration of its debt holdings, Federal Reserve Bank of New York President John Williams said yesterday. "The next step in our balance sheet strategy will be to assess when the level of reserves has reached ample" from the current state of "somewhat above ample", Williams said in the text of a speech prepared for delivery at the European Central Bank Conference on Money Markets 2025 in Frankfurt. When that happens, it will then be time to begin the process of gradual purchases of assets, Williams said. "Based on recent sustained repo market pressures and other growing signs of reserves moving from abundant to ample, I expect that it will not be long before we reach ample reserves," Williams added. At last week’s Fed meeting, the Fed announced that December 1 would bring an effective halt to a three-year-old process to shrink bond holdings acquired as part of an effort to support the economy and financial system during the Covid-19 pandemic. Williams also made the case for shortening the average duration of the Fed's government debt holdings since it focused past purchases on long-term bonds and its average duration was now "very long", much longer than the overall market. "Having a somewhat neutral or close to neutral maturity structure in a central bank balance sheet relative to what's out there in the market, it seems to make sense," Williams said in response to a question. "We're pretty long right now, very long in duration right now." From 2020, the Fed more than doubled the size of its overall holdings to a peak of $9tn on aggressive purchases of Treasury and mortgage bonds. Since 2022, it has been allowing a set amount of those securities to mature and not be replaced with the aim of leaving enough liquidity in the financial system to retain firm control over the federal funds target rate range, its main lever to affect the economy, while at the same time allowing for normal money market volatility. Recent signs of rising money market rates coupled with active use of Fed liquidity facilities indicated to the Fed it had gone far enough on shrinking holdings, hence its decision to hold the overall balance sheet steady at its current $6.6tn level. Some analysts expect the Fed could start to expand holdings via bond purchases in the first quarter. Williams cautioned that it’s tricky to know when the Fed has reached the level of reserves that will need it to start putting cash back into the system. "I am closely monitoring a variety of market indicators related to the fed funds market, repo market, and payments to help assess the state of reserve demand conditions,” he said. He cautioned that buying bonds to maintain the right amount of liquidity is not stimulus. "Reserve management purchases will represent the natural next stage of the implementation of the (Federal Open Market Committee's) ample reserves strategy and in no way represent a change in the underlying stance of monetary policy,” Williams said. He added that Fed rate control tools like reverse repo and the Standing Repo Facility have been working well, and he expects to see active usage of the latter facility, which lends cash to eligible firms, going forward.

Qatar University (QU) Health Sector celebrated the inspiring journey of Lolwa al-Baker, a Qatari graduate from the Physiotherapy Programme whose passion and perseverance exemplify the next generation of national health leaders.Her transformation from an uncertain first-year student to a confident future professional reflects the strength of QU’s academic environment in empowering students to reach their full potential, a statement said.Lolwa’s path to physiotherapy was one of discovery. Initially enrolled in biomedical sciences, she found her true calling late in her first year. “Something in my mind shifted towards becoming a physiotherapist,” she recalled. Drawn to patient care, rehabilitation, and the science of movement, she joined the Department of Rehabilitation Sciences with enthusiasm and purpose.During her studies, Lolwa gained extensive hands-on experience through clinical placements at institutions including Aspetar, Hamad Medical Corporation, and Sidra Medicine. “These placements are helping me map out my future and decide which areas I am keen to explore further,” she said. The experience strengthened her professional skills and affirmed her ambition to contribute meaningfully to Qatar’s healthcare sector.Her academic journey was not without challenges. Like many students, she faced uncertainty during her early university years, compounded by the Covid-19 pandemic. With the support of faculty, peers, and family, she learned to adapt and thrive. “Those early challenges helped me grow as a person and as a student,” she reflected.Initially, her family knew little about the physiotherapy profession, but her success helped increase awareness and understanding of its importance. “Their encouragement and belief in my abilities have been invaluable,” she added, emphasising the role of family support in her development.Lolwa values the diverse learning opportunities offered at QU Health, including Interprofessional Education (IPE) and collaborative activities that promote teamwork and holistic care. “Engaging with passionate peers and dedicated faculty has kept me inspired and motivated,” she said.Looking ahead, Lolwa aspires to specialise further — potentially in sports rehabilitation or paediatrics — and aims to create new opportunities for Qatari physiotherapists through professional associations and community initiatives. “I am dedicated to not only meeting but exceeding the expectations of the Qatari healthcare system,” she stated.Her story reflects QU’s mission to prepare skilled graduates who contribute to national development. Lolwa al-Baker stands as a role model for perseverance, purpose, and professional excellence, inspiring future generations of healthcare leaders in Qatar, the statement added.

Nancy Pelosi, a towering figure in US politics and the first woman to serve as speaker of the House of Representatives, announced Thursday that she will step down at the next election.Admired as a master strategist with a no-nonsense leadership style that delivered consistently for her party, the 85-year-old Democrat shepherded historic legislation through Congress as she navigated America's bitter partisan divide.In later years, she became a key foe of President Donald Trump, twice leading his impeachment and stunning Washington in 2020 when images of her ripping up his speech to Congress were beamed on live television around the world."I want you, my fellow San Franciscans, to be the first to know I will not be seeking reelection to Congress," she said in a video statement pointedly aimed at her hometown constituents."With a grateful heart, I look forward to my final year of service as your proud representative."Pelosi — whose term ends in January 2027 — was the first woman to lead a major political party in the US Congress.Despite entering political office later in life, she quickly rose through the ranks to become a darling of liberal West Coast politics and, eventually, one of the most powerful women in US history.She is in her 19th term and has represented her San Francisco-area district for 38 years. But her fame centers especially on her renowned skills at the national level, leading her party for two decades.As House speaker for eight years, she was second in line to the presidency, after the vice president, including during Trump's chaotic first term.She was revered for her ability to corral her often fractious caucus through difficult votes, including Barack Obama's signature Affordable Care Act and Joe Biden's infrastructure programs.Republicans painted her as the driving force behind a liberal elite that had turned its back on American values and was undermining the social fabric.The granddaughter of Italian immigrants, Pelosi was born in Baltimore where her father, Thomas D'Alesandro, was a mayor and congressman who schooled her in "retail politics" from a young age and staunchly backed Franklin Roosevelt's New Deal.Pelosi attended her first Democratic National Convention before hitting her teens and was pictured with John F Kennedy at his inaugural ball when she was 20.She moved to San Francisco and raised five children with businessman Paul Pelosi while delving into Democratic politics before being elected to Congress at age 47."Nancy Pelosi will be recorded as the greatest speaker in American history, the result of her tenacity, intellect, strategic acumen and fierce advocacy," said Adam Schiff, a colleague in the California House delegation before he moved up to the Senate.A San Francisco liberal and multimillionaire, Pelosi is far from universally popular.Her status as a hate figure for the right was brought in stark relief when an intruder, apparently looking for the speaker, violently assaulted her husband in the runup to the 2022 midterm elections.And during the 2021 assault on the US Capitol, supporters of then-president Trump ransacked her office, and a crowd baying for blood chanted "Where's Nancy?" as they desecrated the halls of Congress.Pelosi moved quickly after that to secure the second impeachment of Trump, whom she called the "deranged, unhinged, dangerous president of the United States."Her legislative achievements include steering through Obama's key health care reforms as well as massive economic packages after both the 2008 financial crisis and the Covid-19 pandemic."I say to my colleagues in the House all the time, no matter what title they have bestowed upon me — speaker, leader, whip — there has been no greater honor for me than to stand on the House floor and say, I speak for the people of San Francisco," Pelosi said.

AirAsia has signed a provisional accord with Bahrain to set up a Middle East hub in the Gulf country, expanding on its plans to create a global low-cost airline. Tony Fernandes, the Malaysian carrier group’s founder, made the announcement at an investor forum in Bahrain, confirming an earlier Bloomberg News report. The Malaysian entrepreneur’s Capital A Bhd signed a letter of intent with Bahrain’s transport ministry. “Bahrain will be a powerful launchpad for us in the Middle East,” Fernandes said in a statement. Bahrain said the deal reinforced the nation’s role as a strategic connector between Europe, the Middle East and Asia. The Malaysian budget carrier aims to operate more than 25 daily flights via Bahrain by 2030. The newly established hub will explore obtaining a local airline operating license to operate flights from Bahrain elsewhere in the Middle East, Central Asia, Africa and Europe. The move expands on an effort to strengthen the Malaysian carrier’s ties to the Middle East. Saudi Arabia’s sovereign wealth fund played the single biggest role in an AirAsia fund raising earlier this year, investing about $100mn, as the airline sought funds to reboot its growth ambitions after years of Covid-induced losses. AirAsia Group needs a Gulf hub to connect flights and passengers between Asia and Europe using its Airbus SE A321XLR aircraft. The longer-term plan is to have a fleet of 600 planes in 10 years, significantly more than the 255 in service now that are shared among its operating airlines across Southeast Asia. The company plans to expand destinations from 143 to 175 in the same period. Bahrain is working to grow its position as an aviation and logistics hub. The country’s national carrier has been on a mission to become profitable and expand its fleet, placing an order with Boeing Co for as many as 18 widebody jets during a meeting in Washington between Bahrain Crown Prince Salman bin Hamad al-Khalifah and US President Donald Trump in July.

President of the 80th Session of the United Nations General Assembly Annalena Baerbock stressed that the State of Qatar's support for the the United Nations is a leading example, praising the country's role as an international mediator in conflict resolution and its active contribution to social development.In statements to Qatar News Agency (QNA), the president explained that the Second World Summit for Social Development in Doha underscores the need to move from promises to implementation through concrete action in areas such as education, employment, and social justice, thus contributing to achieving social benefits and healthcare for all people.She highlighted the importance of promoting social development and achieving global justice, noting significant progress in certain economic and social indicators despite ongoing challenges in other parts of the world.President of the 80th Session of the United Nations General Assembly said that the unemployment rate in Qatar stands at around 1 percent, while in some other countries it reaches 30 percent, reflecting the persistent gap among nations in benefiting from the fruits of social development.She stressed that failure to address crises such as hunger exacerbates displacement and migration, emphasizing the need to break this vicious cycle by working on the three main pillars of the United Nations: peace and security, social development, and human rights.She added that the Summit aims to accelerate progress toward achieving the 17 Sustainable Development Goals (SDGs), noting that all goals are interconnected and cannot be achieved in isolation, especially amid global climate challenges that affect food security.She also pointed to the importance of linking the Doha Summit with the Climate Change Conference to be held in the Amazonian city of Belem, Brazil, and the role of nationally determined commitments in reducing carbon emissions. She affirmed that investment in renewable energy benefits strong economies and enhances their competitiveness.The President of the UN General Assembly emphasized the importance of international cooperation to achieve social justice, explaining that global challenges know no borders, and that the experience of the COVID-19 pandemic demonstrated the necessity of international collaboration in providing vaccines and addressing health crises.In conclusion, President of the 80th Session of the United Nations General Assembly Annalena Baerbock told QNA that supporting UN agencies, including the World Food Programme, is vital to preventing hunger and human suffering in countries such as Sudan, stressing that immediate funding and support are essential to ensuring a dignified life for people around the world.

Saudi Arabia's Aramco, the world's top oil exporter, reported a 2.3% fall in quarterly profit on Tuesday, citing a drop in crude and product prices, but its performance improved from the previous quarter as oil production rose. The kingdom has been pumping more crude as Opec+ unwinds voluntary production cuts after several years of cutting back to support the market. In October, crude oil futures fell for a third consecutive month, dropping more than 2% and hitting a five-month low, on fears of a supply glut and US tariff concerns. **media[377401]** Aramco reported net profit of 101.02bn riyals ($26.94bn) in the three-month period ended on September 30, down from 103.4bn riyals last year. However, net profit was up around 19% compared to the second quarter as revenues rose due to higher volumes and prices for both crude oil and refined and chemical products. "Our rule of thumb is that every 1mn barrels per day of additional crude oil production translates into an additional $11bn of annual operating cash flow based on 2025 average prices year-to-date," Aramco CFO Ziad al-Murshed told analysts. The company's total hydrocarbon production was 13.27mn barrels of oil equivalent per day (boepd) in the third quarter, compared to 12.8mn boepd the previous quarter. On Sunday, the Organisation of the Petroleum Exporting Countries and their allies, known as Opec+, agreed to a small oil output increase for December and a pause in increases in the first quarter of next year, in what some investors saw as a signal of oversupply in the market. Adjusted net profit, which does not include non-recurring items, at Aramco came in at $28bn during the third quarter, beating a company-provided median analyst estimate of $26.5bn. Aramco's shares rose by up to 1.1% after the earnings were published and closed up 0.7% at 25.76 riyals apiece. Aramco on Tuesday raised its 2030 sales gas production capacity growth target to about 80% above 2021 levels, up from its earlier goal of more than 60%. This increase is expected to bring total gas and associated liquids production to around 6mn boepd, Aramco said citing the expected contribution of its Jafurah field, which is central to Saudi Arabia's ambitions to become a major global player in natural gas. "As we develop our plans, we see (gas) demand growth increasing more than previously forecasted, including higher demand from additional uses such as AI data centres," CEO Amin Nasser said in the call with analysts. JPMorgan analysts said in a note that the upgraded guidance translated into a material increase of over 500,000 boepd. Aramco confirmed $21.3bn in total dividends for the third quarter, about $200mn of which is performance-linked. The dividends, which will be about one-third lower this year, are a critical source of income for the Saudi Arabian government, which owns 81.5% of Aramco shares directly and another 16% through its sovereign wealth fund PIF. The kingdom has invested billions to diversify its economy away from oil, which still generated 62% of government revenue last year. Free cash flow for the third quarter jumped 55% to $23.6bn from the previous three months, Aramco said, citing higher net cash from operating activities coupled with steady capital expenditures. The cash flow figure is only $2.3bn higher than the company's total dividend payout for the quarter. Total borrowing rose to $95.1bn as of September 30 from $80.9bn a year earlier, with Aramco raising $5bn from a bond in May and a further $3bn from a sale of Islamic bonds in September. Gearing was 6.3%, from 1.9% at the end of September 2024. Pfizer Pfizer reported a drop in third-quarter profits Tuesday as lower sales of Covid-19 products more than offset gains in other medications. Profits were $3.5bn, down 21% from the year-ago period. Revenues dipped 6% to $16.7bn. The big US drugmaker, which has been navigating a significant drop in coronavirus-related revenues, pointed to lower Covid-19 infections across the US and internationally, compared with the year-ago period. Pfizer also experienced a 20% fall in its vaccine revenues after US officials in the Trump administration narrowed guidance for getting the jabs in the US. Under Health and Human Services Secretary Robert Kennedy, Trump's administration has recommended that for people aged five through 64, only those with higher-risk conditions get a Covid vaccine. Lower sales in Covid-related products were partially compensated for by gains in other products. These include Eliquis, which is used to treat blood clots, and migraine drug Nurtec. Pfizer confirmed its full-year revenue forecast and raised somewhat its profit outlook. But Pfizer profits were also dented by a $1.35bn charge related to an agreement with 3SBio for exclusive rights to commercialise a cancer medication undergoing trials in China. Pfizer is embroiled in a takeover battle with Novo Nordisk for the purchase of obesity treatment maker Metsera. The Danish pharmaceutical giant last week announced an unsolicited bid for Metsera that topped Pfizer's $4.9bn merger agreement. Telefonica Shares in Spanish telecoms giant Telefonica fell sharply on Tuesday after it posted a net loss for the first nine months of the year and announced it would cut its dividend by half in 2026. The company booked a net loss of €1.08bn ($1.2bn) between January and September, compared with a profit of €954mn during the same period last year, weighed down by losses linked to asset sales in Latin America. Net profit in the third quarter fell to a lower-than-expected €217mn from €493mn in the same period last year due to one-off impairment charges on its Telefonica Tech unit, the company said in a statement. Telefonica said it would cut its dividend by half next year to 15 cents per share as part of a new five-year strategic plan as it seeks to reduce its debt. The company said it expects to achieve up to €2.3bn in savings in 2028, and €3.0bn by 2030, through "streamlined processes, digital transformation, and the sale of legacy network assets". "Telefonica's results continue to point to a weak business environment in a highly competitive sector, with limited short-term catalysts for a turnaround," Javier Cabrera, analyst at trading platform XTB, wrote in a note. "Telefonica's underperformance is not solely a reflection of the company itself, but also of the broader European telecom landscape." The dividend cut was hurting the company's share price but is a "necessary step" as it will "alleviate a significant financial burden" and free up funds than can be used to grow the business, Cabrera said. Philips Dutch electronics and medical device manufacturer Philips reported a slight gain in third-quarter net profits on Tuesday as it battles tariff uncertainty and ongoing litigation over faulty sleep apnoea machines. The firm banked €187mn in net profits in the third quarter, compared with €181mn it registered in the same period in 2024. In the second quarter of this year, Philips had posted profits of €240mn. "In this quarter we maintained our momentum," chief executive Roy Jakobs said in a statement. Traders welcomed the results, pushing the stock sharply higher at the opening bell. In the third quarter, sales came in at €4.3bn, the same as during the second quarter. Orders were up 8%, driven by what the firm said was "sustained double-digit growth" in the US. Philips continues to battle legal difficulties over a 2021 recall of DreamStation machines for sleep apnoea, a disorder in which breathing intermittently stops during sleep. It recalled millions of machines over concerns users were at risk of inhaling or swallowing pieces of toxic sound-absorbing foam and fears it could potentially cause cancer. The firm agreed in 2024 to pay $1.1bn to settle US lawsuits related to the recall, although it did not acknowledge liability. In September, sources close to the case told AFP that a magistrate in France was looking into whether Philips committed aggravated fraud in relation to the machines. The Paris prosecutor's office confirmed to AFP that it had received 104 complaints from individuals, two from associations, as well as an alert from France's medical device regulator. Philips said that probe, opened in June, concerned its actions during the 2021 recall and had no bearing on the quality of its current machines. In July, Philips said it expected a hit of between €150mn and €200mn this year from US tariffs. Ryanair Irish no-frills airline Ryanair on Monday announced a rise in net profit for its second quarter on increased ticket prices. Profit after tax jumped to €1.7bn ($2bn) compared with €1.4bn one year earlier, the Dublin-based carrier said in a statement. The group expects full-year traffic to increase more than 3% to 207mn passengers due to earlier-than-expected Boeing plane deliveries and strong first-half demand. Delays to Boeing aircraft delivery had caused Ryanair to cut its passenger growth target in the past year. Revenue jumped 8% to around €5.5bn. Fares increased 13% in the first half of its fiscal year, thanks in part to a favourable timing of Easter holidays in its first quarter. Ryanair chief executive Michael O'Leary said the company expects to "recover all of last year's seven-percent full-year fare decline". He added that Ryanair forecasts "reasonable net profit growth" in its 2026 fiscal year. The company said it has switched more capacity this winter to regions "cutting aviation taxes and incentivising traffic growth", such as Sweden, Slovakia, Italy, Albania and Morocco. BP British energy giant BP on Tuesday reported a sharp rise in net profit for the third quarter as higher oil output and cost-cutting helped offset a drop in crude prices. Profit after tax jumped to $1.16bn for the July-September period, compared with $206mn in the third quarter of 2024, BP said in an earnings statement. Stripping out exceptional items, underlying net profit dipped but beat analysts' forecasts. "We continue to make good progress to cut costs, strengthen our balance sheet and increase cash flow and returns," said chief executive Murray Auchincloss. "There is much more to do but we are moving at pace, and demonstrating that BP can and will do better for our investors," he added. In February, BP launched a major pivot back to its more profitable oil and gas business, shelving its once industry-leading targets on reducing carbon emissions and slashing clean energy investment. However, energy prices have come under pressure this year on concerns that US President Donald Trump's tariffs will hurt economic growth, while OPEC+ nations have produced more oil. British rival Shell last week reported a jump in third-quarter net profit as trading margins and sales volumes improved. France's TotalEnergies also posted soaring net profit, while US oil giants ExxonMobil and Chevron both reported lower earnings. As for BP, its latest quarter benefited from higher oil and gas production and improved refining margins. The company said it expects divestments for the full year to be higher than forecast, as it looks to simplify its business and boost performance. That comes after BP on Monday announced that it had agreed to sell stakes in certain US shale assets for $1.5bn. "The back-to-basics mantra is sticking," said Derren Nathan, head of equity research at Hargreaves Lansdown. He warned, however, that "patience will be needed for those hoping for a return to bumper payouts to shareholders".

Legal PerspectiveDue to increasing need to utilise new technologies in business, many new solutions are offered to help in this arena. We mention, in this connection, that RegTech, as a sub-industry of Fintech, is reaching high funding and it will continue to grow as businesses work hard to stay compliant with the new and existing regulations.The growth of this new industry is due to many factors and reasons including, among other things, noticeable volume of regulatory requirements, big fines in cases of non-compliance, clear activity in the use of technology especially after Covid-19, increased funding for RegTech companies, etc.This new technology, no doubt, offers safer, faster and more efficient workflows and therefore institutions are expected to increase spending on RegTech solutions to streamline their role and future business.It goes without saying that, the increased digitalisation, particularly in banking, has given rise to a number of challenges, both to regulators and likewise to executors. There has been a remarkable increase in the services provided. However, at the same time, there is also remarkable increase in new crimes, cyber-crimes, including data breaches, cyber hacks, risk of money laundering, and fraud.By using technology, the RegTech companies have started proving that they can do a better job than normal legacy systems particularly with reference to the detection of illegal activities. As we see, at present, RegTech companies operate in various areas of the financial and regulatory space.In the financial sector, as example, the regulators across the globe have come up with a number of mandates to increase transparency and reduce risk. The sheer volume of new norms for compliance added, increased or complicated the troubles facing the financial institutions. It has been noticed that, highly regulated industries such as the banking industry is facing ever-increasing regulatory compliance obligations.Herein, modern new technologies, such as artificial intelligence (AI), biometrics and machine learning, can be utilised by the banking and financial industries to address challenges for regulatory compliance. RegTech companies are using these technologies in their solutions to make regulatory compliance processes more efficient and effective.RegTech solutions have various applications such as financial crime detection and prevention, cybercrime supervision, tracking and recording compliance activities, centralisation and timely submission of regulatory filings and streamlining market review workflows.Needless to say that, they can help compliance departments achieve a greater return on investment by increasing operational efficiencies, reducing operational costs and mitigating the risk of breach of regulatory norms. It’s good to follow and adopt this new activity, however, the need for human professionals is irreplaceable and the professional minds along with the new machine’s abilities shall work in collaboration to benefit our society for a prosperous future.Dr AbdelGadir Warsama Ghalib is a corporate legal counsel. Email: [email protected]

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.