Category: 3. Business

Chinese AI app DeepSeek could be facing another ban, this time in Germany. Data protection official Meike Kamp has filed a formal request with both Apple and Google to remove DeepSeek from digital storefronts.

Kamp, the Commissioner for Data Protection and Freedom of Information, has accused the app of sending personal data to China, a violation of European Union law.

The United Nations Office for Disaster Risk Reduction (UNDRR) has released a free to use Resilience Maturity Assessment (ReMA) tool[1] to evaluate and enhance organizations’ capacity to withstand disruptions and adapt to change.

The assessment tool was developed by UNDRR and the Corporate Chief Resilience Officers (CCRO) network through consultations with a diverse range of stakeholders. It features a straightforward, checkbox-style assessment that benchmarks resilience maturity across six core pillars of resilience, and offers targeted improvement guidance, including practical templates and resources to support enhancement efforts.

The assessment’s six pillars of resilience are policy and governance, leadership and culture, organization, capacity, operating model, and value chain. Practitioners are asked up to three questions on each pillar, for example, value chain measures the ability to meet client obligations and supply chain resilience. Final scores are measured on 1-4 basis, and scores falling short of full marks offer suggestions to improve. For example, a supply chain level 3 score produced recommendations including ‘Consider the risks and cost benefits/drawbacks of diverse suppliers against single suppliers with better pricing’.​

Alongside the guidance, relevant templates are included to support and enhance implementation, as well as benchmarking against specific sectors or regulations for meaningful measurements that are scalable across industries.

The ReMA tool is particularly valuable given that BCI research[2] shows one-third of organizations (33.3%) do not use any specific performance indicators to measure resilience. This highlights the current challenges in standardising resilience measurement and the need for more effective, data-informed approaches.

The Resilience Framework 1.0

Last year the BCI released the Resilience Framework 1.0, a strategic guidance and framework cycle that organizations can use to ensure resilience is strategically led, clearly defined, and aligned with an organization’s realities for long-term effectiveness. It is aimed at top leadership and based on guiding fundamental concepts in the form of eight core principles, with a cycle to help implement them in a structured way,

The Resilience Framework and the UNDRR’s ReMA are grounded in the same principles. Both emphasise the importance of leadership, clear direction, comprehensive understanding, collaboration, strategic planning, adaptability, and continuous improvement in building resilience. The Resilience Framework serves as an in-depth strategic resource for leadership, while the ReMA resource is designed with a more practical, operational approach focused on measuring and enhancing resilience within operational environments.

As global resilience tools, both are designed for repeated use and offer structured support to professionals working to strengthen resilience and, with research showing global operational resilience programmes have increased 10% on last year[3], the need for good quality guidance is clear.  Used together, these tools can enhance resilience programmes from strategic leadership to boots-on-the-ground implementation.

Advocating for globally relevant resources

The BCI is an advocate for innovative, globally relevant tools that organizations of all sizes, sectors, and locations can use to assess, measure, and strengthen their resilience. Building resilience is a continuous endeavour, and tools such as ReMA play a vital role in guiding organizations as they strengthen and adapt over time, developing their resilience capabilities and responding effectively to emerging risks in the disruptive environment of evolving global change.

More on

“India certainly is in discussions with the United States. It is going to be in the interest of the United States to make sure that a deal is worked out and that it benefits both sides. India is a very important counter point for geopolitical purposes to China. And so, the United States is going to be somewhat easier on India than it has been on some of the other countries,” says Ed Yardeni, Yardeni Research.

Several developments overnight, one with respect to tariff where US has gone ahead and now probably announced a deal with Vietnam. Tell us what does this mean for several other countries and do you expect US to sign deals with other countries as well ahead of that July 9 tariff deadline?
Ed Yardeni: We will hear about a few more deals, but I do not think we are going to have all of the deals and maybe not even half the deals. Looks like they are happening, but rather slowly. So, on July 9th the president may just impose some tariffs, negotiations continue to go on, and maybe by doing that the negotiations will speed it up.

Now, let us stay with the tariff deadline that we were talking about. I wanted to understand what is your view on India’s position in this global investment landscape, especially the kind of defence developments that we have had. How do you see India placed versus the other emerging markets given that tariff deadline is looming on July 9th?
Ed Yardeni: Well, India certainly is in discussions with the United States. It is going to be in the interest of the United States to make sure that a deal is worked out and that it benefits both sides. India is a very important counter point for geopolitical purposes to China. And so, the United States is going to be somewhat easier on India than it has been on some of the other countries.But also wanted your thoughts on the kind of impact tariff could have on inflation and consequently its impact on the bond market. How do you assess the situation as of now?
Ed Yardeni: Well, at this point we have all been surprised that we have not seen much of any impact of tariffs on inflation. Looking at the latest numbers through May, inflation has been remarkably moderate. The Fed Chairman Powell has said that he does not anticipate that there could be inflation showing up at summer months, in other words, the data for June, July, August.

And I agree with that. We will see some upward pressure on inflation. And, of course, we also have the very weak dollar. Though very weak dollars also going to put some upward pressure on inflation. But I would point out at the same time that there is a lot of deflation coming out of China.
China just continues to produce more than they can consume and they are dumping it in global markets everywhere and that is keeping a lid on a lot of inflation around the world. So, I do not think inflation is going to be a serious problem. I think it will be a problem for the next few months. It is probably one of the reasons that the Fed will hold off on any easing move anytime soon.
Now I want to talk about the markets. Now you had some time ago said that the geopolitical crisis are 2025’s dominant bull market and that one could look to rotate into safe heaven assets like gold and defence stocks. But do you still hold that view given the kind of rally we have seen in the US benchmark indices, especially driven by tech stocks?
Ed Yardeni: Well, I have been bullish on this market since November of 2022. The bull market started in the United States in October of 2022. And back then I was recommending and still recommend overweighting information technology, overweighting communication services, industrials, and financials.

Those have all worked out very well. It was painful, of course, during the correction because they fell most sharply but they have also come back most quickly. I also came up with the idea of overweighting energy, but so far that has not worked out and I have kind of scaled back on that recommendation.

And on a global asset basis, gold has been excellent way to a portfolio against the risk that tariffs represent, against the geopolitical risk especially. Defence stocks still look very good to me on a global basis. So, there is still plenty of opportunities in this market which is still very much a bull market here and by the way in India too.

Salary criteria

What should investors keep in mind?

Manoj Nair, the Gulf News Business Editor, is an expert on property and gold in the UAE and wider region, and these days he is also keeping an eye on stocks as well.

Manoj cares a lot for luxury brands and what make them tick, as well as keep close watch on whatever changes the retail industry goes through, whether on the grand scale or incremental.

He’s been with Gulf News for 30 years, having started as a Business Reporter. When not into financial journalism, Manoj prefers to see as much of 1950s-1980s Bollywood movies. He reckons the combo is as exciting as it gets, though many will vehemently disagree.

European stocks open higher

U.S. lifts chip software restrictions on China

UK government borrowing costs fall

Here are the opening calls

What to keep an eye on

Hong Kong
CNN
 — 

The administration of US President Donald Trump has lifted restrictions on exports of chip design software to China, as Washington and Beijing work to dial down hostilities as part of a recent trade agreement.

All three leading chip design software companies – Synopsys, Cadence and Siemens – said they were notified by the US Commerce Department that the export curbs introduced in May had been rescinded.

The United States cut off sales of critical software tools used to design semiconductors to China as part of retaliation for Beijing effectively choking off rare earth exports, which reignited acrimony between the two countries following a trade truce struck in Geneva in mid-May.

The companies’ announcements signal steps by the world’s two largest economies toward implementing a trade agreement formalized last week that centered on rare earths. Under the deal, the US would lift its export curbs on chips software, the chemical ethane and other goods, while China would approve the exports of rare earths to the US.

US firm Cadence and Germany’s Siemens confirmed to CNN that the export control restrictions are no longer in place, while Synopsys, also American, said in a statement that a previous letter issued by the Commerce Department regarding the curb has been rescinded.

Cadence and Synopsys said they are in the process of restoring access to the restricted software and tools in China, and the latter is working to “assess the impact of export restrictions related to China on its business, operating results and financials.”

Meanwhile, Siemens has restored full access to software and technology under previous export controls, and resumed sales and support to Chinese customers, a company spokesperson said.

Experts have said Washington’s export controls on chip-designing software, or Electronic Design Automation (EDA) software, would have devastating implications for China’s semiconductor industry as they are essential for creating new microchips. And the trio of companies controls 70% of China’s EDA market, according to a report by Chinese state-run news agency Xinhua earlier this year.

The chip software curb was a brief escalation in the US effort to ramp up restrictions on China’s access to semiconductor-related technologies that began during Trump’s first term. The moves aim to prevent Beijing from leveraging American technology to bolster its military and AI capabilities.

On Wednesday, the Trump administration also sent a letter to American ethane producers to rescind export restrictions that had previously halted shipments of the chemical to China, Reuters reported. Just under 50% of American exports of ethane – which is primarily used to produce plastics – went to China last year, according to CNN’s calculation of data from the US Energy Information Administration.

At the height of its trade war with the US in April, China leveraged its global dominance in the rare earths supply chain and imposed new licensing requirements on the exports of seven types of rare earth minerals and several magnets – needed for everything from everyday electronics and vehicles to big-ticket weapons like fighter jets. China controls 90% of the global processing of rare earths.

But despite a 90-day trade truce with the US announced after the Geneva talks in May, Beijing did not loosen these controls, drawing ire from Washington. That had renewed tensions between the two countries, threatening to scuttle the temporary trade agreement to bring down the tit-for-tat tariffs, before the two sides met again in London last month.

Following the London meeting, China agreed to allow and speed up the flow of rare earths under its current licensing regimes, while the US would lift the related “countermeasures,” including export controls on chip software, ethane and jet engines.

But the latest deal did not appear to address the still-high tariffs both countries imposed on each other, and the truce is set to expire in August. US tariffs on Chinese goods remain at around 55%, according to Trump, a figure the White House said includes a 10% “reciprocal” tariff the US placed on trade partners in April, 20% tariffs imposed on China for what Trump said was its role in flow of illegal fentanyl into the US, and pre-existing duties.

By contrast, Trump said on social media after the London talks that China’s tariffs on the US goods would be set at 10%. It was unclear if that figure refers only to new tariffs since April, as Beijing too has already imposed duties on US goods, including in retaliation for the fentanyl levies. Chinese officials did not dispute Trump’s characterization of the deal when asked by reporters.

We are excited to partner with Saudi Post, who operate an unparalleled distribution network in Saudi Arabia, to create an integrated logistics solution that addresses the growing demand for efficient eCommerce fulfilment in the country, Our extensive, global ocean network, along with the newly opened Integrated Logistics Park, would combine with Saudi Post’s extensive domestic network, positioning us to deliver world-class logistics services that support businesses looking to enter or expand in the Saudi market.

The strategic collaboration between SPL and Maersk is pivotal in streamlining cross-border e-commerce flows to and from The Kingdom of Saudi Arabia and the wider GCC, enhancing connectivity, reliability, and growth opportunities across the region.