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Substantial infrastructure investments and policy reforms across Southeast Asian airports are required to unlock billions of dollars in economic value and millions of regional jobs over the coming decades.Airports and the air connectivity they enable supported 23.3mn jobs and contributed $244bn to GDP across the Association of Southeast Asian Nations in 2025, according to a comprehensive study by Airports Council International Asia-Pacific & Middle East (ACI APAC & MID).Direct airport-related activity alone supported 1.6mn jobs, generated $55bn in regional GDP, and contributed $36bn in total tax revenues to member state governments during the reference year, the study found.According to scenario-based modelling by the industry association, full implementation of the Asean Single Aviation Market (ASAM) could generate 6mn additional intra-regional passengers, representing an 11.6% increase over 2025 traffic levels.ACI APAC & MID stated that complete market liberalisation could unlock an additional 450,000 jobs and $4.3bn in cumulative GDP gains through expanded trade, tourism, and direct aviation activities.Stefano Baronci, director general of ACI APAC & MID, stated that while member states have made historic strides with the market framework, significant scope remains to unlock its full potential.Baronci pointed out, “To fully realise the opportunities ASAM has created, states must address remaining challenges around market access and traffic rights, starting with further opening of air connectivity to secondary cities, so that more local economies can benefit from increased traffic.”He explained that lagging airport infrastructure development represents a core factor limiting liberalisation, directly affecting the ability of airlines to capitalise on regional market opportunities.“With traffic expected to more than double in the Asean region in the next decade, supporting sustainable funding for airport expansions is of vital importance,” Baronci said.The study estimates that $108bn in airport investment will be required by 2036 to accommodate passenger growth, followed by an additional $233bn between 2037 and 2056 as regional demand reaches 2.9bn passengers.ACI APAC & MID stated that this represents a total investment requirement of approximately $341bn over the next 30 years.Baronci emphasised that meeting this demand will require airports to mobilise significant capital investment over the coming decade to expand capacity, modernise infrastructure, and maintain long-term competitiveness.“Asean members must work together to accelerate implementation of existing air services agreements and address remaining capacity, regulatory and operational barriers to support sustainable aviation growth,” he said.Regional low-cost carriers experienced substantial expansion under the framework, accounting for 51% of intra-regional seats in 2025 compared to 29% in 2008. Air travel facilitated the arrival of 84.8mn international tourists across member states in 2025, generating $127bn in visitor spending and accounting for two-thirds of total international tourism expenditure.Singapore, Malaysia, and Thailand recorded the largest airport-related economic contributions in terms of GDP, generating $22.6bn, $11bn, and $7.7bn, respectively. Vietnam, Indonesia, and Malaysia led the region in total employment impact from airport operations, generating approximately 368,000, 335,000, and 283,000 jobs.Overall airport throughput across the 10 member states exceeded 700mn passengers and nearly 9mn tonnes of air cargo during 2025, according to ACI APAC & MID. 

A major shareholder in Novartis has called for a shake-up of the Swiss drugmaker's board to improve corporate governance after its shares suffered a record fall this week following back-to-back trial setbacks.David Samra, managing director at top 20 investor Artisan Partners and founding partner of International Value Group, said the board needed to strengthen its oversight of acquisitions, calling for action from board chairman Giovanni Caforio."I think he needs to make changes at the board level. One of them should be on improving the team that's doing these deals because clearly they have been uninspiring at best," Samra told Reuters in an interview. "I think that the board needs to improve their oversight of acquisitions... they need to bring in better talent on the board to do that and have an acquisition committee."Samra, however, said he did not blame CEO Vas Narasimhan, who has overseen a 60% share price rally since he took over in 2018 despite a tough global environment with US tariffs under President Donald Trump, and conflict from Ukraine to Iran.On Tuesday, a muscle-wasting disorder drug acquired through Novartis' $12bn takeover of US firm Avidity failed a late-stage study, sending the company's shares tumbling more than 10% and wiping nearly $30 billion off its market value.Novartis' stock, which had been up some 20% year-to-date before this week's slide, had already fallen a day earlier after results from heart drug pelacarsen disappointed investors.Artisan is the first investor to publicly call for board changes, though others have voiced concerns about Novartis' M&A strategy to Reuters. Public pressure from activist shareholders can often encourage other investors to push for change."If you do a $12bn deal and it goes to zero, the management needs to be penalised for that," Samra said, while noting that other promising drugs could still emerge from the Avidity acquisition.Novartis said in a statement that its financial guidance was unchanged by recent setbacks and that it had a "broad" pipeline of medicines."We continue a disciplined and shareholder friendly approach to capital allocation by investing in the organic business, pursuing value-creating bolt-ons, and returning capital to shareholders through a growing annual dividend and share buybacks," it said.Samra also cited Novartis' 2024 acquisition of German biotech MorphoSys as a disappointing deal. Investor enthusiasm faded after Novartis wrote down the value of the acquisition only months later.Many analysts have viewed the latest setbacks as a test of CEO Narasimhan. But Samra said Narasimhan had done a "very good job" running the business, and instead questioned whether the board had exercised sufficient scrutiny over deals."The acquisition track record is not very good," Samra said, arguing that deals had destroyed value. "The party is over."Samra also urged the board to overhaul Novartis' compensation structure, saying it relies too heavily on adjusted performance measures that exclude writedowns rather than reflecting "real economic outcomes." 

 The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice from August 23-27 reached QR351,804,441. Meanwhile, the total sales contracts for residential units in the Real Estate Bulletin for the same period stand at QR59,382,006. The weekly bulletin issued by the Department shows that the list of real estate properties traded for sale included vacant land, residences, residential buildings, commercial shops, and residential units. Sales were concentrated in the municipalities of Al Rayyan, Doha, Al Wakrah, Umm Salal, Al Daayen, Al Khor, Al Thakhira, Al Shamal, and Al-Shahaniya, and areas of Lusail 69, The Pearl, Al Wukair, Al Kharaej, Al Gharafa, and Al Meshaf. 

 The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice from August 16-20 reached QR314,467,100, reports QNA. Meanwhile the total sales contracts for residential units in the Real Estate Bulletin for the same period stood at QR55,826,746. The weekly bulletin shows that the list of real estate properties traded for sale has included vacant land, residences, residential buildings, commercial shops, and residential units. Sales were concentrated in the municipalities of Al Rayyan, Doha, Al Wakrah, Umm Salal, Al Daayen, Al Khor, Al Thakhira and Al Shamal, and areas of Lusail 69, The Pearl, Al Wukair, Al Kharaej, Al Gharafa, Al Sakhama, Al Ebb, and Ghar Thuaileb. 

The banking sector is undergoing one of the most significant periods of transformation in its history, according to QNB Group. Financial institutions across the world are navigating changing customer expectations, technological disruption, evolving regulatory frameworks, and increasingly interconnected economies. Within this environment, leadership has become a critical differentiator, requiring the ability to adapt, create sustainable value, and guide institutions through complexity and change, QNB stated.QNB Group’s current phase of growth and transformation is increasingly shaped by a strategic focus on innovation, sustainability, and strengthening the group’s international capabilities throughout key markets and business functions. As the banking industry continues to evolve, the group’s broader strategy remains embedded within its operations, customer propositions, and long-term growth agenda.Behind every phase of transformation is a generation of leaders helping organisations navigate change, unlock opportunities, and deliver sustainable growth. According to QNB, women leaders are contributing to critical functions including risk management, corporate and institutional banking, treasury, and digital banking. Their impact spans markets from Qatar and Singapore to Tunisia and Egypt, reflecting both the scale of QNB’s international footprint and the depth of expertise supporting future-ready banking throughout the organisation.According to the World Economic Forum, women currently hold between 19% and 23% of senior leadership positions within the global financial services sector. At QNB Group, sustained investment in talent development, leadership progression, and building a high-performing organisation continues to support stronger female representation across both its workforce and leadership pipeline. Today, women represent 49% of QNB Group’s workforce, alongside 34% representation across senior leadership and middle management roles — figures that remain above international industry averages.For Dr Fatma Abdulla al-Suwaidi, Group Chief Risk officer at QNB Group, leadership should ultimately be defined by competence, performance, and the ability to create impact.“I believe people should be evaluated based on their capabilities, qualifications, and passion, not their gender. What matters is competence, dedication, and the ability to deliver,” she said.Having spent nearly 25 years within several critical risk functions at QNB Group, al-Suwaidi believes the future of banking increasingly depends on how institutions navigate complexity, transformation, and emerging risks within a rapidly evolving global environment.“Risk management is not something separate from decision-making; it is embedded within it. We are here to contribute to business and support growth. When we identify opportunities from a risk perspective, we highlight them to the business. For example, in areas such as green financing or products that support climate-related initiatives, risk management can help identify opportunities that align with Environmental, Social, and Governance (ESG) objectives while also creating business value,” she said.Looking ahead, al-Suwaidi believes areas such as artificial intelligence, climate risk, ESG, and cybersecurity will continue to reshape how financial institutions operate and compete globally.“AI will be one of the defining forces shaping the next phase of transformation within the banking industry. At the same time, areas such as climate risk, ESG, and cybersecurity are evolving rapidly and will continue shaping the future of banking. While these are often viewed primarily as risks, they also create new opportunities for growth, innovation, and financing solutions,” she said. In Singapore, where competition within corporate and institutional banking remains intense, Constance Au, senior vice president for Corporate and Institutional Banking at QNB Singapore, believes sustainable growth is built through credibility, consistency, and long-term relationships.She said, “I have never approached business from a purely transactional perspective. Instead, I focus on building genuine, long-term relationships with customers because those relationships are what ultimately sustain growth and trust.”Over the past several years, her focus has centred on strengthening QNB’s market positioning in Singapore while deepening long-term client relationships throughout the region. In her role, Au works closely with multinational corporations and entities, helping strengthen QNB’s presence across key markets in Asia.“Clients know that when we commit to something, we deliver. Equally, when something is not possible, we are transparent about it. That sincerity and consistency are fundamental to how we build trust with customers and create lasting value for both the bank and its clients,” she said. Operating within one of Asia’s most competitive banking markets also requires resilience, agility, and the ability to adapt to evolving customer and market expectations.“When circumstances become challenging, leaders must remain resilient, continue looking for opportunities, and guide their teams forward with confidence,” she said.That need for adaptability is becoming increasingly important as digital transformation continues reshaping how financial institutions engage with customers and deliver banking services.This shift is particularly visible in Egypt, where Dahlia Swellem, director for Digibank, oversees the QNB Bebasata digital banking platform under QNB Egypt and is co-leading the establishment of ez Bank, one of the group’s most transformative initiatives through the development of digital banking ecosystems designed around customer-centricity, accessibility, and innovation.“In a digital bank, the mobile application effectively becomes the face of the bank. The customer journey must be seamless, intuitive, and personalised,” she said. Having spent nearly two decades across retail, commercial, and marketing in banking, Swellem believes successful digital banking models must balance technology with trust, simplicity, and human-centred experiences.As digital banking ecosystems continue evolving throughout the region, she believes long-term success will depend on agility and the ability to continuously evolve alongside technological advancements, with the aim of meeting and exceeding customer expectations.“The market is evolving rapidly, and if organisations stop innovating or trying new approaches, they risk being overtaken,” she said.At the same time, digital transformation requires leaders capable of navigating increasingly complex ecosystems involving regulators, consultants, technology providers, and cross-functional teams.“Leadership in this space requires adaptability, fairness, accountability, and the willingness to continuously reassess and evolve,” she added.Alongside innovation and customer transformation, maintaining resilience and financial stability remains equally critical to supporting sustainable growth within financial institutions.For Fatma Ben Hafsa, head of Treasury at QNB Tunisia, treasury functions are playing an increasingly strategic role as markets become more interconnected and volatile.“For us, long-term value creation relies on a carefully managed balance between profitability, risk management, and active support for the Bank’s overall strategy,” she said.Her role focuses on ensuring financial resilience through liquidity management, funding optimisation, foreign exchange activities, and correspondent banking relationships, while also supporting the Bank’s broader strategic ambitions.As financial markets continue evolving, she believes treasury functions will increasingly rely on digitalisation, enhanced forecasting capabilities, and stronger international collaboration to strengthen competitiveness and support long-term stability.“These developments represent real opportunities to strengthen the Bank’s financial position, optimise balance sheet management, diversify funding sources, and improve competitiveness,” she said.As QNB Group continues to advance its growth ambitions across regional and international markets, leadership expertise remains central to navigating an increasingly dynamic banking landscape. Through their expertise, commitment to excellence, and leadership, these women continue to contribute to the Group’s long-term success and help shape the future of banking across the markets it serves.

Netflix shares sank more than 10% on Friday after the company forecast another quarter of slower revenue gains and scaled back viewership data, fueling fears that its industry-beating growth may have peaked.The stock was close to a two-year low, with the decline set to wipe out $35bn from Netflix's market value of about $313bn, if losses hold.In its latest disclosure pullback, the streaming giant cut the frequency of its viewing-hours report to once a year from twice starting 2027, following last year's scrapping of subscriber counts, leaving investors in the dark as the business faces greater competition from traditional media as well as YouTube. "Whenever you take away a data point from investors when results aren't as good as they have been you will get punished by the market," said Ben Barringer, head of technology research at Quilter Cheviot.Netflix's failed pursuit of Warner Bros earlier this year has also raised doubts about its next phase of growth amid slow adoption of an ad-supported streaming tier that the company has long touted as a big growth driver.The stock has lost 44% since hitting an all-time high in June 2025, including an over 20% fall just this year. After a strong content slate in 2025 that included the final season of its hit sci-fi series "Stranger Things" and South Korean drama "Squid Games", analysts said the company also has a weaker content line-up this year that could weigh on growth."Pulling back engagement reporting at the exact moment engagement is in the spotlight gives off a strong ‘nothing to see here’ vibe," said Forrester research director Mike Proulx. Keeping subscribers hooked is crucial for Netflix as it has long traded at a premium to other media companies that command a smaller streaming subscriber base and are grappling with the ongoing declines in cable TV.Netflix trades at nearly 20 times expected earnings over the next 12 months, compared with 13.5 times for Walt Disney and 6.6 times for Comcast, underscoring the premium investors place on the streaming giant.Still, at least 18 analysts cut their price targets after Netflix forecast quarterly revenue and earnings below Wall Street expectations. The median target, however, remains about 40% above Thursday's closing price. 

Al Meera Consumer Goods Company (almeera) is eyeing expansion plans, which include adding more branches across Qatar, developing private labels, and expanding partnerships with local suppliers to provide high-quality products at competitive prices.This was announced during almeera’s Ordinary General Assembly, presided over by almeera chairman Essa Hilal al-Kuwari, where shareholders approved the board’s recommendation to distribute cash dividends of 40% of the nominal share value, equivalent to QR0.40 per share.Al-Kuwari said, “In 2025, almeera continued to achieve positive results that reflect the strength of its business model and its ability to sustain growth. We remain committed to developing our services and enhancing the shopping experience to meet the expectations of all customer segments.”He added: “We remain committed to supporting local products and enhancing quality standards and food safety, contributing to the national economy and strengthening food security, in line with Qatar National Vision 2030.”In 2025, total consolidated sales reached QR2.91bn, marking a 3.6% year-on-year increase. Gross profit rose by 13.7% to QR566.8mn. Rental income from outlets reached QR79.9mn, while net profit amounted to QR143.2mn, resulting in earnings per share of QR0.69, reflecting a 16.5% growth. 

For centuries, gold has been the go-to haven asset in times of political and economic uncertainty. Its status as a reliably high-value commodity that can be transported easily and sold anywhere offers a sense of safety when everything else is in turmoil.Not everyone’s a fan. Famed investor Warren Buffett has called the precious metal a “sterile” asset, telling Berkshire Hathaway Inc shareholders in a 2011 letter that “if you own one ounce of gold for an eternity, you will still own one ounce at its end.” Nonetheless, investors have sought refuge in bullion amid President Donald Trump’s expanding trade war, record US debt levels sparking concerns about the country’s fiscal health, and growing encroachment on the independence of the Federal Reserve. Investors have piled into gold-backed exchange-traded funds this year, with total holdings at the start of September reaching their highest point since June 2023, according to data collected by Bloomberg.The rush to gold has prompted the precious metal to keep setting new price records in 2025, extending a ferocious run from last year. Bullion punched through $3,500 per troy ounce to reach a new all-time high in early September, fuelled by expectations the Fed will cut US interest rates.Why is gold considered a safe haven?For modern investors, it’s primarily because of gold’s stability and liquidity rather than any intrinsic utility.Gold has a track record of increasing in value in times of market stress. It’s also seen as a hedge against inflation, when the purchasing power of currencies is eroded. Inflation worries are front of mind for many right now as the duties Trump has imposed on imports into the US risk increasing prices across the global economy.US inflation, in particular, is in the spotlight as Trump piles pressure on the Fed to lower interest rates. Gold, which pays no interest, typically becomes more attractive in a lower-rate environment, as the opportunity cost of holding it versus interest-earning assets decreases.The safe-haven status of gold has also been elevated as Trump’s trade agenda shakes trust in other typical shelters from market gyrations — namely the US dollar and government bonds — and threatens to end the idea of American exceptionalism.Gold has historically been negatively correlated with the dollar. Because bullion is priced in dollars, when the greenback weakens, gold becomes cheaper for holders of other currencies. The dollar reached a three-year low against other major currencies in July and remained subdued by the end of August.Beyond market movements, owning gold is deeply rooted in Indian and Chinese cultures — two of the world’s largest markets for the metal — where jewellery, bars and other forms of bullion are passed down through generations as a symbol of prosperity and security. Indian households own about 25,000 metric tons of gold, more than five times what’s stored in the US depository at Fort Knox.Physical buyers are famously sensitive to prices, but when gold’s appeal to investors in financial markets starts to fade, buyers of jewellery and bars often step in to grab a bargain, putting a floor under prices in the process.What was driving the gold price up before Trump re-entered office?The metal’s blistering price rally since the start of 2024 was partly driven by huge purchases by central banks, particularly in emerging markets as they seek to reduce their dependency on the US dollar, the world’s primary reserve currency. Gold helps diversify a country’s foreign exchange reserves and guard against currency depreciation.Central banks have been net buyers of gold for the past 15 years, but the speed of their purchases doubled in the wake of Russia’s invasion of Ukraine. As the US and its allies froze Russian central bank funds held in their countries, it underscored how foreign currency assets are vulnerable to sanctions.In 2024, central banks bought more than 1,000 tons of bullion for the third year in a row, according to the World Gold Council, and they hold around a fifth of all the gold that’s ever been mined. That pace of buying has since slowed somewhat in the face of higher prices.What could halt gold’s rally?Following a nearly uninterrupted upward march in the gold price since early last year, there could eventually be some consolidation as investors banks their gains. A major de-escalation of Trump’s tariffs and a peace deal between Russia and Ukraine could also spur a price decline.But central banks have been the most important pillar of support for gold’s bullish momentum, meaning they have the power to do the most damage if they trim their reserves.There’s no indication any large holder is considering this. The central banks of developed economies have sold very little gold in recent decades compared to the 1990s, when persistent sales sent bullion prices down by more than a quarter over the decade. Amid concerns that those unco-ordinated sales were destabilising the market, the first Central Bank Gold Agreement was struck in 1999, under which signatories agreed to limit their collective sales of bullion.Does gold being a physical asset cause any issues for investors?Owning gold typically isn’t free. Because it’s a physical object, holders have to pay for storage, security and insurance.Investors buying gold bars and coins will usually pay a premium over the spot price. There can be geographic price differentials too and traders take advantage of these arbitrage opportunities.That’s what happened earlier this year when fears that Trump could introduce tariffs on bullion imports pushed gold futures on New York’s Comex significantly above spot prices in London. There was a worldwide dash among those in possession of the physical metal to shift it to the US to capture the large premium and potentially hundreds of millions of dollars in profit.That arbitrage trade came to an abrupt halt in April, when the Trump administration indicated that bullion would be exempt from duties. The market had a brief scare that this wouldn’t be the case, after US Customs and Border Protection said in August that certain gold bars are subject to Trump’s “reciprocal tariffs.” However, Trump himself then weighed in to say that gold wouldn’t face import taxes.Gold is usually relatively simple to shift, stashed away in the cargo holds of commercial aircraft, unbeknown to the holiday and business travellers in the cabin above. But it’s not as straightforward as loading up a jet from Heathrow Airport to JFK thanks to a quirk in the global gold market: different size requirements. In London, 400-ounce bars are the standard, while for Comex contracts, traders must deliver 100-ounce or 1-kilogram bars.That means bullion being sent to Comex warehouses has to first go to refiners in Switzerland to be melted down and recast to the correct dimensions, before journeying on to the US. This creates a bottleneck when there’s a particular rush to rejig the location of bullion stocks.

Meituan’s shares dropped the most since April after warning of losses this quarter from a price-based battle with Alibaba Group Holding Ltd and JD.com Inc, wiping out a combined $27bn in market value from the three Internet commerce leaders.China’s food delivery leader issued its dire prediction after reporting “irrational competition” eradicated most of its profit in the June quarter. That spooked investors already nervous about deepening losses in the online arena, prompting a series of downgrades on Meituan. Shares in Alibaba and JD both slid about 5%, while Meituan was down 13% at one point. The Hang Seng Tech Index led losses in Asia on Thursday, slumping as much as 2.3%.The plunge in profitability illustrates how Meituan is facing its greatest challenge in years from twin rivals that — till recently — had largely ceded the domestic meal sector. That changed in 2025 when JD.com, pursuing growth during a consumption downturn, and Alibaba’s Ele.me began offering generous subsidies to cash-strapped diners.The Beijing-based company now expects “significant losses” for its core local commerce business including food delivery in the current quarter, Chief Financial Officer Chen Shaohui told analysts on a post-earnings call on Wednesday.“We expect there will be continued fierce competition in the near term,” Chen said. “That will bring negative impact on our financial results.”The three-way battle in the food arena eroded profitability across the sector and forced Meituan to defend its core business on multiple fronts. This month, JD.com reported a halving in net income for the quarter. Alibaba has posted muted growth and is set to report earnings on Friday.In past months, the trio has invested billions of dollars in incentives and in hiring delivery riders. This strategy backfired with investors, who sold off shares in Meituan and JD.com, erasing roughly $100bn of their combined market value at one point.Following a warning from industry regulators, the three corporations in August pledged to cease their “disorderly competition” and avoid a self-destructive price war.Faced with margin pressure at home, Meituan is looking overseas. Its own aggressive pricing strategy forced Deliveroo Plc to retreat from Hong Kong after a decade of operating in the city.