Global

Industry News

Hermes Sales Hit by Chinese Spending Curbs and Dubai Retail Disruptions

Hermes International reported flat constant-currency revenue in its region that includes China for the third quarter, trailing analyst expectations of 1.6% growth. The performance was weighed down by Chinese consumer spending cutbacks and regional conflict disrupting shopping destinations such as Dubai. Following the announcement, Hermes shares fell up to 9% in Paris, extending year-to-date declines to 41%.

Industry News

China’s Energy Mix Shift Reshapes Arabian Gulf and Global LNG Export Outlook

Slowing Chinese demand growth for liquefied natural gas is impacting expansion plans for multi-billion-dollar export facilities in the Arabian Gulf and the United States. Forecasters including JPMorgan, Wood Mackenzie, and S&P Global Energy lowered China's projected early 2030s LNG demand growth by 14 million to 22 million tons.

China–UAE News

Hermès Q3 Sales Slow as China Weakness and Middle East Disruption Hit Demand

Hermès International SCA reported slowing third-quarter sales as revenue flatlined in its key market region including China, missing analyst expectations. The luxury sector's anticipated recovery has been hampered by domestic headwinds in China alongside conflict in the Middle East that disrupted shopping hubs such as Dubai. Hermès shares fell as much as 9% in Paris, marking a 41% decline year-to-date.

China–UAE News

UAE Leads 30-Nation Crackdown on AI Fraud Involving China and Leading Tech Companies

The UAE Ministry of Interior led 'Operation Confrontation Ghost', a global initiative uniting 30 countries—including China—and 13 private sector firms such as Huawei and Mastercard to combat cross-border digital fraud. The three-month operation identified over USD 39 billion in scam-linked assets and cryptocurrencies. Law enforcement agencies carried out more than 960 arrests and shut down 29 fraud centres worldwide.