The Enduring Legacy of Kate Spade’s Witty, Misunderstood Life
As the brands she founded seek to recapture her magic, the late designer’s husband and collaborators reflect on what made her special: ‘Katy was more subversive than anyone knew’
As the brands she founded seek to recapture her magic, the late designer’s husband and collaborators reflect on what made her special: ‘Katy was more subversive than anyone knew’
WALK INTO any Kate Spade or Frances Valentine store today, and you’d be forgiven for thinking the retailers are uncomplicatedly preppy—the kind of place where your mother might find an innocuous floral shift or clutch for a luncheon. But Katherine Noel Valentine Brosnahan Spade, the woman who co-founded those brands, was no Lilly Pulitzer during her outsize life, which was cut short by suicide in 2018.
With her partner, Andy Spade, she started Kate Spade with six boxy handbags in 1993. They weren’t married yet; she was the “Kate” and he was the “Spade.” The former fashion editor at Mademoiselle magazine and the brilliant adman made a dashing couple straight out of a Wes Anderson film: she with her chignons, heels and big jewellery, he with his Brooks Brothers—with-a-twist button-downs and jeans. They lived in pre-billionaire Tribeca; they drank martinis; everyone wanted in. Kate and Andy dreamed of a company they hoped would bridge the gap between L.L. Bean and Prada.
“We were just kids,” says Andy today from his new home in the San Francisco Bay Area. “We wanted to control our destiny so we just started a handbag company with no experience whatsoever.”
And boy, did they succeed. The household-name American brand would go on to include stationery, books, clothing, home goods, jewellery, shoes, the men’s line Jack Spade and licensing deals worldwide. Kate Spade’s nylon bags were coming-of-age talismans for girls and women at the turn of the 21st century, spawning oodles of Canal Street knockoffs. When Kate died, Vogue ’s Anna Wintour said, “There was a moment when you couldn’t walk a block in New York without seeing one of her bags, which were just like her; colourful and unpretentious.”
Yet despite the TikTok generation’s thirst for everything Y2K—from Fendi baguette bags to Juicy Couture tracksuits—Kate Spade’s brand heat under current owner Tapestry is lukewarm.
“Gen Zers and TikTok consumers are constantly looking to the ’90s and early aughts for trends,” says Casey Lewis, a consultant who writes “After School,” a youth-culture newsletter. “And so this seems like it would be prime time for a Kate Spade comeback.”
Some interest is bubbling up: Kate Spade recently reissued one small ’90s baguette bag with Urban Outfitters. Last year, it relaunched its original “Sam” bag. And prescient trendsetters are dusting off their vintage Kate Spade pieces. Yet a recent collaboration with Heinz ketchup left some consumers and analysts scratching their heads. Tapestry, which declined to comment, reported a 6% decrease in Kate Spade sales for the nine-month period ending in March 2024 compared with the previous year.
The challenge of evolving Kate’s aesthetic without her began while she was still alive, when the company she co-founded with Andy, Pamela Bell and Elyce Arons was sold to Neiman Marcus Group in 2006. The group, which had already bought 56 percent of the company in 1999, in turn sold it to Liz Claiborne. Coach, which is now Tapestry, acquired the brand in 2017 for $2.4 billion.

The enigma lies in decoding a fashion icon who was always more complex than polka dots or pink and green. Under Kate and Andy, the brand’s American joie de vivre was tempered with intellectual, offbeat references: architect Buckminster Fuller, Eames furniture, Rei Kawakubo. And along with joy and eclecticism, there was darkness. Her death at age 55 left behind a grieving husband, a 13-year-old daughter, Frances Valentine Beatrix Spade—and a towering style legacy that is often misunderstood.
After a company changes hands multiple times, and its founder dies, can its original vision endure?
“THE INTERPRETATION of [Kate’s] legacy is a little different from how she actually was,” says her co-founder Bell. “Because she was petite and so adorable, everyone associates her with the words cute or happy, and she was much more complicated and sophisticated than that.”
Andy, Kate, Bell and Arons all came from the Midwest. Their partnership coalesced at a summer share house in tony Amagansett, New York. Kate (friends called her Katy) was one of six kids from Kansas City, Missouri; Andy, the brother of comedian David Spade, was born in Birmingham, Michigan, and raised in Arizona. Kate and Andy both went to Arizona State University and met while working at the same Phoenix clothing store. Andy’s car broke down one day, and Kate offered him a ride.
“Katy was more subversive than anyone knew,” says Andy. “They just pigeonholed her as the girl next door. But she was a girl next door and a girl across the street, down the alley and across the hall.”
Kate wore avant-garde Japanese designs from Comme des Garçons and Sacai and hippie slips from Dosa. She loved dining on steaks at Raoul’s and Lucky Strike in SoHo, and hanging out with artists and weirdos. She played Bob Dylan loudly and read books by John Knowles and W. Somerset Maugham. She scoured Indian import stores in the East Village for brightly coloured silk tunics to wear with cigarette pants, pairing them with wild costume jewellery she’d picked up at the wholesalers on Sixth Avenue.
She and Andy also appreciated simplicity. As a design inspiration, the two often cited advice from The Elements of Style, Strunk and White’s manual for writers—“To achieve style, begin by affecting none.”
Kate’s niece Whitney Pozgay, a designer who worked at Kate Spade for years, describes the company culture as freewheeling and fun, with beer carts on Fridays and Phoenix and Björk on the sound system. She says Kate was bubbly and effervescent, coming down to the studio with her little dog Henry to tease, “Working hard or hardly working?”
In the early days, Kate and Andy gave each new employee a copy of Emily Post’s Etiquette. But in 2004, to put her own spin on propriety, Kate published three volumes: Manners, Style and Occasions. The advice offered was more madcap than proper: Admire the polka dots on a Wonder Bread package! Play “Electric Version” by the New Pornographers to start a party! Gift your beloved an Etch A Sketch for your iron wedding anniversary!
Writer Jill Kargman, who was Kate’s intern at Mademoiselle and stayed close with her, says the designer was a master of the written note, pairing formality with casualness and “sparkling chutzpah.” Whether in her correspondence or her style, she says, Kate had “total edge,” musing, “To think outside the box, you have to know what the box is. It’s like she studied the box, but then she flipped it a little bit and gave it a blood transfusion.”
The Spades were funny. When Kate and Andy hosted their first adult dinner party, the invitation went out with a copy of instructions for the Heimlich manoeuvre. While the brand was built on highlighting all the things Kate liked, she told Index magazine in 1998 that her customers were free to say: Who the hell cares what Kate Spade likes? (Andy says that David Spade always considered Kate to be funnier than all his comedian friends, including the late Chris Farley.)
Even the company’s signature—a small, humble black clothing label in the place of a logo—came from a place of irreverence: Kate thought the bag needed a little something, so right before the launch she put the inside label on the outside. For its first order, Barneys New York requested that the label be put back inside. But, Bell says, “Of course, after they became popular, they wanted them on the outside.”
As the brand took off, so did the couple’s social life. Although Andy, more than Kate, became a collector of bohemian downtown characters, she was always game. Gabi Asfour, co-founder of the artistic collective As Four, who once worked for the couple as a clothing designer, remembers staying up late drinking with the Spades at the Hôtel de Crillon during a trip to Paris. “What I loved is the clash of the roughness of downtown mixing with the cleanness of uptown,” he says.
That creative clash came through in the brand’s advertising, as masterminded by Andy alongside Julia Leach, now chief creative officer at Athleta. Andy commissioned filmmakers like Mike Mills and the Safdie brothers to direct shorts for the brand. The print ads, such as those photographed by artists Larry Sultan and Tim Walker, rarely did the basic job of displaying the handbags. The goal was something else entirely: to evoke feelings.
One campaign, shot by art-world chronicler Jessica Craig-Martin, was produced as an actual party at The Explorers Club in Manhattan, with Kate and Andy hosting. “The party was very real, totally madcap, and had been set up to elegantly fall apart in just the photogenic way I desired,” remembers Craig-Martin.
Another, by artist Tierney Gearon, depicted a day in the life of an elegant New England family: loading up the car, playing hide-and-seek, getting ready in the bathroom. Gearon says that although the pictures depicted a “perfect family,” she now finds them a little eerie.
Some collaborators have suggested that with these ads Andy was chasing a vision of perfection that is hard to achieve in real life. Today he says, “It definitely reflected how we felt as people.”
“It wasn’t trying to paint the picture-perfect version of white picket fences,” says Leach, who wrote scripts for these ads. She and Andy were thinking about John Updike’s and John Cheever’s stories about the beautiful flaws of American life.
KATE AND ANDY’S lightning in a bottle was all about giving glamour an off-kilter spin. Yes, an ad showing a kid seated on a toilet was weird, but it was playful—and just pretty enough. As Craig-Martin says, “The brilliance lay in the understanding of how the esoteric or sophisticated could be used to appeal to the mass market.”
Striking that balance without Kate and Andy’s input is tricky, and gets harder as the years go by.
“They get the ingredients, but not the recipe,” says Pozgay when discussing how her aunt’s style legacy is often interpreted. Yes, she loved pink, but it had to be the right pink, and perhaps shot through with a dark poppy-red stripe.
After selling the brand in 2006, Kate and Andy Spade agreed to stay on for six months to help with the transition. In the intervening years, the company has grown incrementally but lost some of its cultural cachet. This year, the Federal Trade Commission sued to block Tapestry’s $8.5 billion acquisition of Capri Holdings, which owns Michael Kors and Versace. In the meantime, Tapestry must prove its mettle with the heritage brands it already owns.
As for Frances Valentine, where Kate was working alongside her old friend and Kate Spade co-founder Arons when she died, the brand is owned by Andy, Arons and other investors, including venture-capital fund Sweater. The company reports 200 percent growth in its wholesale business from 2023 to 2024, and will launch at Dillard’s this fall. A recent visit to its small, quiet Sag Harbor, New York, store (one of nine) revealed preppy, retro classics like beaded sandals and beachy caftans. Arons is working on a forthcoming book about her friendship with Kate.
In the weeks following Kate’s death, sales surged at both Kate Spade and Frances Valentine. When a fashion designer or an artist dies, scarcity fuels demand—Alexander McQueen’s suicide in 2010 inspired a similar frenzy. It’s what happens after that bump that determines a brand’s longevity.
“How do you do justice to the spirit of the thing, but bring it to more people?” asks the chief creative officer of luxury resale retailer TheRealReal, Kristen Naiman, who worked at Kate Spade from 2014 to 2023. “That’s the name of the game when you scale something as special as what Kate and Andy made.”
While they were running the company, Andy would quote advertising executive Jay Chiat, who asked: How big can we get before we get bad? Today, he is at peace with how they handled the sale, which he equates with getting your teen child into college and then backing off.
“There are roots in that brand—Kate Spade—that are about values and people, and that’s what I wanted to do,” Andy says. “Build roots for the brand to exist forever. And I never looked back.”
During Kate and Andy’s time at Kate Spade, the company didn’t resort to one of the fashion industry’s lesser publicized strategies for growth: making products specifically targeted for outlet stores. Today, there is an extensive outlet network, including a newly launched dedicated e-commerce site. Kate Spade pajamas produced under a license were recently sold at Costco for less than $20.
“I think they have a lot of potential,” says Casey Lewis, the youth-culture consultant. “I would be shocked if they did not successfully make a comeback in the coming years, because the brand isn’t so watered down or so irrelevant that no one knows it at this point. They can just reclaim the cool.”
HANDBAGS ASIDE, Kate’s legacy also includes opening up conversations about mental health in fashion, a notoriously punishing industry.
When she died, the Kate Spade New York Foundation contributed $1 million immediately to mental-health and suicide prevention causes. “We really have the authentic responsibility to talk about it and to try to amplify it,” says Liz Fraser, Kate Spade’s current CEO. The company says it is now one of the world’s largest corporate donors to women’s mental-health initiatives.
During Kate’s time, such things weren’t spoken of. While the designer’s friends and family maintain that she was for the most part a genuinely happy, ebullient woman who loved her life and her family, everyone has their private struggles, and she was no different.
“Everyone’s like, ‘Well, what happened?’ ” says Bell. “I don’t think any one thing happened.”
Andy and Kate Spade were separated at the time of her death, but they were still very much a family unit with their daughter, known as Bea. “We loved each other very much and simply needed a break,” he said at the time.
Bell, who is a co-founder with Kenneth Cole of the Mental Health Coalition, says that she and Kate had a euphemism for therapists: “the contractor”—as in, someone who can fix you. “I regret that, because I think that we could have just said therapist…. I think we should have talked about it more openly,” she says.
The co-founder talks about how rough menopause can be on women and says that she’s been recommending Miranda July’s novel All Fours, which deals with that very topic, to everyone she knows: “I read it and I was like, I wish I knew this then.”
Kargman remembers thinking that Kate’s drinking had gone from celebratory to solitary in the last years of her life. She says, “I think I was already looking at it through the prism of slight worry, but never in a million years did I think she would take her life, not in a million years.” In a statement at the time of her death Andy said Kate was on medication for depression and anxiety but that there were no substance-abuse issues.
When a person becomes a brand, even when they are beloved, boundaries blur. Kate talked about adding “Frances Valentine” to her many names in 2016 to differentiate herself from the namesake brand she sold. But in a panel talk with Andy the following year, she seemed unsure about it. “I get confused,” she said. She ended up adding just “Valentine.”
One day, while shopping with Bea at a Kate Spade store after she had left the company, she was tickled when a sales associate asked if she was on the mailing list. She would have never cried, “I am Kate Spade.” When she appeared on her brother-in-law David’s sitcom Just Shoot Me in 2002, her only request was that her part become smaller.
While some might see a contradiction between a brand built on colour and optimism and the spectre of mental-health issues, Naiman thinks that makes the message behind Kate’s legacy all the more potent. She says, “I think that the deepest truth is that there’s something so powerful and incredible about saying that this person who made this incredibly joyous brand struggles.”
Today, Andy runs his Partners & Spade creative agency in California, and is still a partner in Frances Valentine as well as his pajama company, Sleepy Jones. He’s working on a sculpture show about Kate called Uncommon Flowers. He is, as ever, brimming with ideas, and very much still processing the death of the person he calls “the most beautiful woman I’ve ever seen.”
He chose the Bay Area, for one, to be off the grid: “It was purposeful to be disconnected, because my daughter and I didn’t want to be around the mayhem.”
In the early Kate Spade days, Andy would use the word mercury to describe a certain undefinable je ne sais quoi, a taste, a feeling. Recalling an old thermometer, he notes how you can’t put your finger on the quicksilver—it jumps at the merest touch. “I always thought we were mercury,” he says. “Just when they think they know who we are, it changes.”
Or as Kate herself put it, in 1998: “I mean, shit, we’re just doing what we like.”
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Qatar National Bank (QNB) is seeking to raise a $2 billion five-year senior unsecured term loan in the Asian market, according to LSEG’s Loan Connector. The facility, priced at 75 basis points over compounded SOFR, will refinance a $2 billion loan completed in 2023, with signing expected in September.
China is launching the first regular Arctic cargo route to Europe, offering faster journeys and lower fuel costs as melting ice and Red Sea risks reshape global shipping.

Shipping cargo through an Arctic shortcut never made economic sense—until now.
Climate change and war in the Middle East are flipping the math that previously kept ships plying longer routes from Asia to Europe. A Chinese company on Saturday is starting the first regular cargo service to Europe through Arctic waters, seeking to reap the benefits of quicker travel time and less fuel use.
The shipper Sea Legend will dispatch the Dubai Tower from Ningbo, China, to Felixstowe in the U.K. on what it calls the Arctic Express, following a route along Russia’s north coast. The voyage by the vessel, which is capable of carrying 1,740 20-foot containers, is the biggest commercial step in the Arctic since a Maersk containership first completed the route in 2018.
Global warming is a big factor behind the new route, but it is not the only one. Nearly half the Arctic region’s summer ice—an area four times the size of Texas—has melted over five decades, clearing a fairly reliable path in the summer months. Meanwhile, high oil prices and attacks by Houthi rebels in the Red Sea have made the traditional routes costlier and more dangerous.
Beyond that, Beijing has ambitions to play a role in the Arctic’s future, lending a geopolitical dimension to the Chinese company’s shipping route.
Last year Sea Legend completed a trial run from Asia to Europe in a record 20 days. That is roughly half the time of a voyage via Africa’s Cape of Good Hope that many carriers now take because of the Red Sea uncertainty.
Fuel accounts for 70% or more of the costs while at sea, said Alan Murphy, a former Maersk analyst who runs research firm Sea-Intelligence.
Saving fuel by shortening the journey doesn’t automatically make a route profitable. Insurance premiums for the Arctic are 40% higher than the Cape of Good Hope route, said Jonathan Steenberg, an economist at credit insurer Coface. Sea Legend’s Arctic vessels are relatively small. And even after warming, an icebreaker is still sometimes needed to help the cargo ship.
But if the ship can go without an icebreaker, Coface said the Arctic route is now cheaper than a Cape of Good Hope voyage in some circumstances. It estimated that at current oil prices of around $90, the cost of shipping liquid bulk such as liquefied natural gas could drop roughly 33% compared with the Cape of Good Hope route, while dry bulk goods such as cereals would cost about 8% less.
The route is only passable in the summer and fall. Sea Legend plans eight voyages between August and late October, before conditions get too icy.
“It’s not the Suez Canal but it’s a significant number for the Arctic. It shows there is potential,” said Malte Humpert, founder of the U.S.-based Arctic Institute and author of a book on Chinese shipping in the Arctic.
Even in summer, ships have to navigate around dangerous ice floes and deal with rapidly changing weather. By the end of the shipping season in October, the sky is dark most of the time.
A Russian tanker suffered serious damage to its hull while sailing along the Arctic route despite being assisted by an icebreaker, its insurer, AlfaStrakhovanie, said Thursday, adding that it paid out roughly $650,000.
Coface estimates 3.5% of trade among East Asia, Europe and North America will be able to use Arctic routes within the next five years, representing $64 billion in goods.
Last summer, a record 23 cargo ships transited the Northern Sea Route, which hugs Russia’s north coast. That is tiny compared with the Suez Canal, where more than 30 ships transited daily.
Western companies that want to follow in Sea Legend’s path have to navigate treacherous politics. Russia claims sovereignty over the entire Northern Sea Route and permits for ship traffic are issued by its state-controlled nuclear operator, Rosatom.
“Western companies are in a tricky position,” said Humpert of the Arctic Institute. “At what point do they jump back in the water? When does it become economically necessary, and how do you weigh that against environmental risks and the political dimension?”
An alternative Arctic route, the Northwest Passage that connects the Atlantic and Pacific oceans via the Canadian Arctic, is less passable because it is dominated by narrow waterways where ice gets bunched up. The highest number of cargo ships completing the passage in a year was 13, in 2023.
China has declared itself a near-Arctic state despite not having access to Arctic waters. It depends on Russia’s goodwill to use the Northern Sea Route.
“Beijing is concerned that if they don’t establish a significant strategic presence in the Arctic now, it’s going to be more difficult in the future,” said Marc Lanteigne, expert in polar geopolitics at the Arctic University of Norway in Tromsø. However, he said, “China needs to be careful not to give the impression that they are trying to challenge the strategic order in the Arctic.”
Sea Legend didn’t respond to requests for comment.
Any polar venture contributes to China’s quest to master Arctic travel. The country also has three icebreakers and a support vessel currently on a monthslong scientific expedition north of Greenland. Scientific and commercial voyages can yield data about natural resources awaiting below melting ice caps and information for positioning nuclear-armed submarines.
The sports-car maker delivered 279,449 cars last year, down from 310,718 in 2024.
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ADNOC Distribution’s Q2 profit nearly doubled to AED 1.32 billion, driven largely by higher fuel prices and inventory gains despite almost flat fuel sales.
Anyone who filled a fuel tank in the UAE this spring saw pump prices rise. ADNOC Distribution, which runs just over 1,000 fuel stations across the UAE, Saudi Arabia and Egypt, has now reported what that did to its accounts.
Second quarter net profit attributable to shareholders reached AED 1.32 billion, nearly double the figure from a year earlier and 70% above the first quarter. Revenue rose 52.8% to AED 13.2 billion.
Nagham Hassan, Market Analyst at etoro, explains that what sits underneath that growth is more interesting than the size of it. The company sold about 1% more fuel in total than a year ago while revenue rose more than half. Almost all of the increase came from charging more per litre, not from selling more litres. Retail volumes in the UAE and Saudi Arabia fell 2.6% against the same quarter last year.
The second quarter profit boost came from a timing effect on stored fuel. The company buys fuel wholesale, stores it in tanks, and sells it at current pump prices. When retail prices rise, fuel bought earlier at lower costs is sold at higher rates, creating a temporary profit gain.
Filings record this inventory gain at AED 738 million for the second quarter, against reported EBITDA of AED 1.76. By comparison, the first quarter produced an inventory gain of around AED 24 million. The year-over-year swing in inventory gains reached AED 701 million, which accounts for more than the total AED 638 million increase in net profit.
Stripping out inventory movements and one-off items reveals the company’s underlying EBITDA at AED 1.09 billion. This underlying measure grew 5.0% compared to last year, but dropped 2.5% compared to the first quarter, when underlying growth was running at 24%.
The company also opened stations faster than it sold fuel. The network grew more than 11% over the past year while average sales per site fell 11.9%. Aviation is the other oddity. Second quarter volumes jumped 64.2% year on year to 205 million litres while the segment’s gross profit fell 11.7% over the same three months, even though it rose 15.9% across the half year. The filings do not explain the gap.
The market had started repricing the stock months earlier. ADNOC Distribution slid around 12% from the start of January to a low in mid-March, then recovered steadily in the months since. It now trades in the 4 dirham range, roughly 18% above that March low and back above where it started the year. The market appears to have treated the higher oil price as a positive and priced it in gradually, well before the 5 August results confirmed it.
The company gave no earnings guidance. It reaffirmed 60 to 70 new stations this year and capital spending of $250 to $300 million, of which most is still to come. The quarterly dividend of 5.14 fils was maintained, with the policy extended to 2030, and a roughly $1 billion agreement to buy Shell’s South African downstream business is expected to close in 2027 and to add around 6% to earnings per share in its first full year.
Where it goes from here depends largely on oil prices. Higher pump prices worked both ways this quarter, lifting profit while costing the company some sales. Where that nets out depends on where crude settles, which has been hard to call all year.
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Central banks’ efforts to keep markets stable may be creating unintended risks. Emergency lending and market backstops have encouraged highly leveraged government bond trades, potentially lowering borrowing costs while increasing financial vulnerabilities that could require further intervention during the next crisis.
Central banks may be accidentally subsidizing government borrowing through their efforts to prevent a repeat of past market blowups, and policymakers are starting to worry that anticrisis lending facilities could even be interfering with their own monetary policy.
The source of the problem is the switch from central banks being the lender of last resort to, in 2008 and 2020, also being market makers of last resort, ensuring corporate—and government—debt markets keep functioning. During a crisis, support is often essential to prevent a downward spiral that destroys the financial system.
But backstopping markets removes a key risk and encourages more borrowing—especially for the hedge funds that now own trillions of dollars of U.S. Treasurys.
“Ironically, vulnerability is created by mechanisms that were introduced to reduce vulnerability,” said Huw Pill, the Bank of England’s chief economist, one of those growing concerned, in an interview. “So, it’s a bit like a whack-a-mole kind of story.”
Offering either an explicit or implied guarantee that government-funding markets will remain open and liquid means hedge funds have less risk of being unable to finance highly leveraged trades. This is particularly true for the overnight repurchase, or repo, market, where borrowers pledge bonds for cash. The result has been a huge expansion of two popular government bond trades, arbitraging Treasurys or British gilts against bond futures or swaps.
The scale is extraordinary: The Dallas Fed estimates hedge funds ended last year with $2.4 trillion of Treasurys, up from $600 billion a decade earlier. Because the profits on each trade are tiny, hedge funds have to leverage as much as 100 times to get worthwhile returns, creating new risks.
This might sound abstruse. But in 2020, it was the Treasury basis trade blowing up that forced the Fed to intervene. In 2025, signs of trouble in the swap trade pushed President Trump to retreat from his tariff plan.
Pill worries that the reassurance central-bank policy provides bleeds into monetary policy by boosting borrowing. This, in turn, keeps government-debt yields lower than they otherwise would be.
“There’s lots of gilts to be bought,” he says. “How do you support that buying of gilts? You make it attractive. How do you make it attractive? Well, there are some imperfections in the market. So those imperfections create profit opportunities, but they’re not very big. So how do you make them more meaningful? You allow leverage to build up.”
“That’s good for the government because it gets to sell the gilts at a lower [yield] than it otherwise would. It’s good for the financial sector because they’re able to extract these rents effectively. And it’s good for the central bank because the market seems to be liquid and functioning. But all of those things are true until they’re not true.”
When it goes wrong, the more leverage, the worse the problem. And the worse the problem, the more likely it becomes that central banks have to create yet more special tools to address it. That then spurs the next buildup of leverage.
Pill thinks more effort is needed to come up with a modern version of the Bagehot Doctrine. Walter Bagehot, the 19th-century editor of the Economist magazine, summed up the role of the central bank as being to lend to banks freely, against good collateral, at a penalty rate. Access to instant cash helps banks withstand runs. The fact the central bank is offering a backstop should make the run less likely, and shareholders are penalized, through the penalty rate, if it is used.
Tools for saving markets from drying up are more haphazard. In 2020 the Fed, BOE and others just bought lots of government debt to inject liquidity into markets. That worked because, even though quantitative easing is also a monetary policy tool, they also wanted easier money.
Unfortunately, that created what Pill described as a tinderbox, ignited by the energy crisis after Russia invaded Ukraine. The excess money creation from left over from emergency QE then fanned the flames of inflation. This made it much harder to calibrate monetary policy when central banks decided to tighten (although policymakers were also, in my view, far too slow to recognize inflation).
Pill points to the “temporary, targeted” BOE buying of gilts amid the forced selling by leveraged pension funds after Britain’s botched tax-cut plan in September 2022 as a successful model. At a time when the BOE was trying to tighten monetary policy, it intervened in a way that stopped the pension fund selling spiral and stabilized gilts. Yet the central bank maintained tight monetary policy.
Bagehot would recognize the goal: Reduce the encouragement to take risk, known as moral hazard, that offering guarantees in advance creates, but retain the ability to mount a rescue in a crisis.
Unfortunately, much of central banking is going backward on this. Moral hazard is increasing, even for banks. In the 2023 bank bailout, the Fed accepted less-than-full collateral, recognizing Treasury bonds at face value rather than their (much lower) market value.
The emergency rescue facility then became a funding facility that even healthy banks chose to tap—in effect easing monetary policy by the back door and prompting the Fed to tighten the terms before it ended. Something similar could be under way with Japan’s plans to use an emergency Fed loan facility to raise cash to prop up the yen without having to sell its hoard of Treasurys.
I don’t know how to break the cycle of crises needing rescues that lead to more leverage and new crises. And I’m concerned we’re firmly into the added-leverage phase of the latest cycle.
At least central bankers are still thinking about it, even if they don’t, so far, have good answers.
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Space42’s first-half results, with revenue up 15% and satellite-to-phone services on standard devices targeted for commercial rollout by the end of 2026, are the kind most space companies globally can’t show, and that’s what makes the regional story worth a closer look
Most listed space companies around the world are still burning cash in pursuit of the dream, so it says something that Space42, the Middle East’s flagship space firm just reported a USD$6.3 billion contracted backlog and more than USD$1.1 billion in the bank. Space42’s first-half results, with revenue up 15% and satellite-to-phone services on standard devices targeted for commercial rollout by the end of 2026, are the kind most space companies globally can’t show, and that’s what makes the regional story worth a closer look according to Josh Gilbert, Lead Analyst at etoro.
SpaceX’s first result as a listed company showed revenue of USD$7.8 billion, up 92% on a year ago, yet the company still lost more than USD$500 million and spent an extraordinary USD$18 billion on capex in a single quarter. The shares fell despite beating expectations, and that reaction says plenty about whom investors have patience for, because markets this year have been rewarding companies that can show cash coming back and punishing those that only spend it.
Space still makes up a small sliver of portfolios, although SpaceX as the poster child has likely changed that. Valuations are the sticking point for space companies, because most are spending aggressively ahead of profits and only a handful trade on a meaningful earnings multiple, so traditional metrics won’t tell you much. What they miss is how fast the picture can change, because in this sector one big contract or breakthrough can rewrite earnings expectations within a couple of quarters.
That’s exactly why the model in this region stands out. Contracts that run 15 years or more with a government counterparty are almost unheard of in this industry, and they give investors something the rest of the sector can’t, which is knowing where the revenue comes from years in advance. Space still gets talked about as tomorrow’s story, but the technology already sits behind navigation, telecommunications, logistics and agriculture. It’s the companies monetizing it that are young. This is where the comparison to AI firms fits: with heavy investment meeting enormous growth expectations, space companies are just a few years behind where the leading AI names are now.
Investors should judge these companies the same way they’d judge any other business, on free cash flow, backlog and margins, because launch headlines grab attention but tell you very little about who actually makes money. This is a sector with a long way to run, and the companies worth backing will be the ones proving it in the numbers, not on the launchpad.
Many of the most-important events have slipped from our collective memories. But their impacts live on.
Parts for iPhones to cost more owing to surging demand from AI companies.
The UAE and Saudi Arabia led MENA’s outbound investment in H1 2026, completing 119 deals worth $25.5 billion, according to EY. Overall, the region recorded 390 M&A deals worth $46.7 billion, while the UAE remained the top destination for inbound investment.
The UAE and Saudi Arabia remained the Middle East and North Africa (MENA) region’s most active outbound investors in the first half of 2026, according to global consultancy EY.
Outbound investment remained resilient, with 119 deals worth $25.5 billion completed during the first half of this year, the consultancy said in its MENA M&A Insights report.
Major transactions included Dubai Aerospace Enterprise’s acquisition of Macquarie AirFinance for $7 billion, and Saudi Electronic Gaming Holding Company’s acquisition of Shanghai Moonton Technology for $6 billion.
Domestic deal value reached $16 billion – more than four times the value recorded in the first half of 2026 compared to the same period last year – driven by several large transactions across real estate, power and utilities and technology.
However, merger and acquisition (M&A) deals in MENA fell in the first half of 2026 due to geopolitical developments. The region recorded 390 M&A deals worth $46.7 billion in the first half of 2026, compared to 434 deals worth $58.8 billion a year ago.
May and June accounted for 61% of Q2 2026 deal volume and 79% of deal value. Large transactions valued above $500 million contributed nearly three-quarters of total deal value between March and June.
The UAE continued to lead as MENA’s preferred destination for inbound investment, supported by its diversified economy and business-friendly regulatory environment.
Sovereigns such as the UAE’s Abu Dhabi Investment Authority and Mubadala, as well as Saudi Arabia’s Public Investment Fund, continued to play a pivotal role in shaping M&A activity across the region, the report said.
Following the successful launch of its Palais Collection, MAISON de SABRÉ has unveiled a new modular handbag system offering more than 720 styling combinations.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Qatar National Bank (QNB) is seeking to raise a $2 billion five-year senior unsecured term loan in the Asian market, according to LSEG’s Loan Connector. The facility, priced at 75 basis points over compounded SOFR, will refinance a $2 billion loan completed in 2023, with signing expected in September.
Qatar National Bank (QNB) has returned to the Asian loan market to raise a $2 billion five-year senior unsecured term loan, less than a year after securing a smaller facility, according to LSEG’s Loan Connector.
DBS Bank, HSBC, Industrial and Commercial Bank of China, Mizuho Bank and Standard Chartered have been mandated as lead arrangers and bookrunners for the bullet facility, which carries a margin of 75bp over compounded SOFR.
Mandated lead arrangers committing $200 million or more will receive an upfront fee of 90bp, while lead arrangers providing between $125 million and $199 million will earn 80bp.
Arrangers contributing $75 million to $124 million are offered 70bp, managers committing $50 million to $74 million will receive 60bp, and participants with smaller commitments are entitled to a fee of 55bp.
An additional 5bp early-bird fee is available to lenders that commit by August 28.
A virtual bank meeting is scheduled for August 17, with commitments due by September 11 and signing expected on September 23.
The proceeds will be used to refinance a $2 billion three-year loan completed in October 2023.
QNB’s last syndicated loan was a $1.5 billion five-year facility raised in October 2025 and was priced at 60bp over SOFR.
Qatar’s largest bank by market capitalisation, QNB is rated Aa2/A /A (Moody’s/S&P/Fitch).
Parts for iPhones to cost more owing to surging demand from AI companies.
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
RISE Global acts as the national economic platform to reinforce confidence at speed and scale, demonstrate Dubai’s collective market strength and translate D33 into investable opportunity. In other words, where the entire country speaks with one voice to global capital.
RISE Global is the global platform for investment capital and the future of urban development. RISE Global acts as the national economic platform to reinforce confidence at speed and scale, demonstrate Dubai’s collective market strength and translate D33 into investable opportunity. In other words, where the entire country speaks with one voice to global capital.
📅 Dates: 13-14 Oct 2026
📍 Location: Dubai World Trade Centre, Dubai, UAE
💡 Why attend?
Join us in Dubai World Trade Centre, for RISE Global from 13 – 14 October 2026. RISE Global is the global platform for investment capital and the future of urban development. RISE Global acts as the national economic platform to reinforce confidence at speed and scale, demonstrate Dubai’s collective market strength and translate D33 into investable opportunity. In other words, where the entire country speaks with one voice to global capital. The UAE projects one credible global story of strength, resilience, delivery and long-term “investability”.
RISE Global deepens relationships with sovereign funds, global institutions and developers that invest in Dubai, advocate for its market and support UAE organisations internationally. RISE Global builds a qualified, year-round pipeline connecting Dubai projects with the capital capable of sustaining Dubai’s next growth. RISE Global translates next-generation real estate, infrastructure, hospitality, logistics, data-centre and sustainable-city ambition into tangible investment and partnership opportunity.
This powerful and strategic platform for the real estate ecosystem to converge to define the cities of tomorrow. RISE Global is where the world’s real estate and infrastructure government leaders, institutional investors, forward-thinking architects and designers, innovators and industry powerhouses come together to forge the future of urban development. With $15T+ in AUM represented, 5,000+ high-profile leaders, 1,000+ bilateral meetings, 250+ global institutional investors and 100+ world-class speakers from 40+ countries, RISE is the #1 platform for driving global capital investment forward.
The time is now: total commitment will show the world the collective strength, depth and resilience of the UAE. Be part of this transformative event and witness the future of urban development unfold.
Be part of the future of urban development, register now.
The sports-car maker delivered 279,449 cars last year, down from 310,718 in 2024.
Interior designer Thomas Hamel on where it goes wrong in so many homes.
Egypt’s annual urban inflation rose to 14.9% in July, up from 14.3% in June, according to CAPMAS. While urban food and beverage prices fell 0.6% month-on-month, they remained 8.0% higher than a year earlier, highlighting persistent inflationary pressures despite signs of easing in monthly food costs.
Egypt’s annual urban consumer inflation accelerated to 14.9% in July from 14.3% in June, state statistics agency CAPMAS said.
* Nationwide annual inflation rose 13.0% in July compared with July 2025.
* Urban food and beverage prices fell 0.6% month-on-month in July, but were 8.0% higher than a year earlier.
* Nationwide, the all-items index rose 0.1% from June, with food and beverages slipping 0.1% month-on-month.
* Rural annual inflation reached 11.2% in July, with rural food and beverages up 7.8% year-on-year.
* Thirteen analysts polled by Reuters between July 29 and August 6 had forecast a range of 14.6% to 16.3%.
New research suggests that bonuses make employees feel more like a mere cog in a wheel.
Following the devastation of recent flooding, experts are urging government intervention to drive the cessation of building in areas at risk.
Gold miners are emerging as a compelling way to navigate market uncertainty, with analysts pointing to strong cash flows, attractive valuations and rising profit margins. As gold prices stabilize above US$4,000 an ounce, mining stocks could offer investors both downside protection and long-term upside.
Gold is one of the market’s go-to hedges in rocky times. Don’t forget that gold miners’ stocks are too.
The stock market’s gains in 2026 belie the rocky macroeconomic picture: elevated inflation, heightened geopolitical tensions, and jitters about the artificial-intelligence trade. That backdrop, in theory, should be the time for gold to shine. Instead, the price of the yellow metal has tumbled more than 5% so far, after last year’s blistering 65% rally. In part, the U.S. dollar’s recovery has stymied gold, which benefited from the greenback’s weakness in 2025.
Even with the precious metal’s recent weakness, gold mining stocks could be the best way to profit from this year’s uncertainty.
Gold miners “are a valuable hedge against macro risks that would likely be damaging for equities,” BCA Research’s Noah Weisberger and Rishabh Shah wrote this week.
Concerns about the Federal Reserve’s next moves to tackle inflation, the increasingly crowded AI trade, and steep valuations for tech stocks are just some of the drivers that could help gold’s price get on even footing— and lead to even bigger gains for miner stocks.
These stocks’ prices tend to outpace gold’s moves, because the companies have fixed operational costs. So when gold’s price rallies, their profit margins soar, and vice versa. For instance, the VanEck Gold Miners GDX +7.39% exchange-traded fund has fallen 11% this year as the metal has slumped.
Now, gold’s price just needs to stabilize to help miners’ stocks take off, and that seems to be happening. The precious metal has recently found support above the $4,000 level, and has stuck in a narrow range since the end of June. But its price rose ever so slightly in July, ending a four-month losing streak for the metal. Technical analysis also suggests that gold is due for a comeback.
Barron’s recently wrote that the pullbacks for both gold miners and the metal itself are overdone. Senior technical analyst Doug Busch noted that the VanEck ETF is on the “verge of a breakout” and has the potential to hit $11o in early 2027, up more than 40% from its current price.
Gold miners also have more than their role as a market hedge going for them. Their fundamentals are solid, too, says Chris Mancini, portfolio co-manager of the Gabelli Gold Fund.
“Precious metals miners are generating substantial amounts of free cash flow given profit margins of over $2,000 per ounce, and are returning this cash to shareholders through buybacks and dividends,” he said in an email.
“Buying the miners is a cheap way to get exposure to the price of gold,” he added. His fund owns Newmont NEM +6.71%, a Barron’s stock pick last year, and Agnico Eagle Mines as top holdings, as well as miners Northern Star Resources, Endeavour Mining, and Kinross Gold K+8.59%.
Miners are better businesses than they used to be, the BCA team added.
“Capex is more disciplined, margins are high and rising…and they are largely independent of the AI story,” Weisberger, BCA’s head of equities, and Shah, a senior analyst, wrote.
That last part is key. AI is disrupting the software industry and many other services and information-oriented businesses, and investors have piled into AI stocks. But ChatGPT, Claude, Grok, and other large-language models aren’t going to replace the need to mine for metals.
“Equity portfolios can benefit from exposure to quality that is uncorrelated to AI risk, and gold miners fit the bill,” the BCA team said.
They recommend that investors buy the VanEck Gold Miners ETF, which owns top miners such as Agnico, Barrick Mining ABX +7.24%, and Newmont.
An important bonus for big gold miners’ stocks is that their valuations are attractive after the gold’s pullback, too. The VanEck ETF is now trading at just a little more than nine times next year’s earnings estimates. That’s a big discount to its five-year average price-to-earnings ratio of 14, according to FactSet.
What’s more, the ETF is currently valued at a more than 50% discount to the S&P 500 SPX -0.17%, which is trading for about 19 times earnings estimates for 2027. Mining stocks have typically traded at just a 25% discount to the broader market over the past five years. So there is significant upside for the group if valuations move back toward normal levels.
One factor that complicates mining stocks as a market hedge, of course, is if stocks bounce back, which has been the case so far in August.
But both the market and economic outlooks remain cloudy, and investors remain nervous about the Fed’s next moves and AI stocks. Gold miners should do just fine, even if the anxious mood on Wall Street persists.
The sports-car maker delivered 279,449 cars last year, down from 310,718 in 2024.
Limassol will host WIKIEXPO CYPRUS 2026 on 6 November 2026, bringing together more than 5,000 professionals, 50+ speakers, and 50+ exhibitors from over 30 countries. The event will spotlight the latest trends in forex, fintech, payments, crypto, and AI, offering a platform for industry leaders, innovators, and investors to explore emerging technologies, share insights, and build strategic partnerships.
Mark your calendars for WIKIEXPO CYPRUS 2026, taking place on November 6, 2026 at the prestigious Parklane, a Luxury Collection Resort & Spa. As one of Europe’s most influential gatherings for the foreign exchange and fintech services industry, the event is set to welcome over 5,000 professionals, 50+ distinguished speakers, and 50+ exhibitors from more than 30 countries.
This year’s expo places a strategic focus on the core pillars that drive today’s financial markets, with dedicated tracks on:
Set in the heart of Cyprus – a global hub for forex brokers, payment processors, and regulatory technology firms – this expo offers an unrivalled platform for service providers, brokers, IBs, liquidity providers, payment gateways, and platform vendors to connect, showcase innovations, and forge cross-border partnerships. Backed by CySEC’s stringent oversight and EU-wide passporting privileges, this jurisdiction empowers firms to scale operations across the European Economic Area, all while staying ahead of the crypto and AI waves reshaping the industry.
Attendees will gain actionable insights through keynote addresses, panel debates, fireside chats, and dedicated networking sessions, all designed to address the real-world challenges and opportunities facing the FX, fintech, and digital asset ecosystem.
“Cyprus has long been recognized as a gateway between Europe, Asia, and Africa, with a robust regulatory environment and a thriving community of financial technology providers,” said Loki So, COO of WikiEXPO. “Our Cyprus edition is uniquely tailored to the FX, liquidity, payments, and platform-building sectors – but we also recognize that crypto and AI are no longer optional. We aim to bring together the entire value chain of service providers – from traditional brokers to cutting-edge DeFi protocols and AI-driven analytics firms – under one roof to drive responsible innovation and sustainable growth in this dynamic region.”
How to Participate:
The Only Official Free Registration Link:
https://www.wikiexpo.com/Cyprus/2026/en/?c=7iil3INU
Sponsorship & Exhibiting Opportunities:
Secure a prime booth or exclusive sponsorship package – ideal for liquidity providers, trading platform vendors, payment solution companies, regulatory tech firms, Web3 infrastructure projects, and AI fintech startups.
Contact Name: Loki So
Email Address: loki@wikiexpo.com
Telegram: https://t.me/Loki_wikiexpo_coo
LinkedIn ID: https://www.linkedin.com/in/loki-so-33826318a/
About WikiEXPO
WikiEXPO is a global hub for financial innovation, uniting visionaries and leaders in fintech, forex, and crypto industries. With a worldwide community of over two million followers, our iconic summits are held in global capitals including Dubai, Hong Kong, Cyprus, Bangkok, Singapore, Sydney, South Africa, and beyond. From cutting-edge startups to industry giants, we connect the brightest minds. After six years of rapid development, WikiEXPO has become one of the world’s largest and most influential event platforms in the forex, fintech, and digital asset space.
Past Speakers at WikiEXPO (selected):
We look forward to welcoming you to Limassol this November – where the FX, fintech, and crypto communities converge to shape the future of finance!
Following the successful launch of its Palais Collection, MAISON de SABRÉ has unveiled a new modular handbag system offering more than 720 styling combinations.
Saudi Arabia’s non-oil private sector continued to expand, marking a fourth straight month of growth despite a slight slowdown. Strong domestic demand supported business activity, while regional tensions and higher freight costs weighed on exports. Businesses remain optimistic that solid economic fundamentals and diversification efforts will sustain growth in the months ahead.
Saudi Arabia’s non-oil private sector growth eased slightly in July but remained in expansion territory for a fourth consecutive month, supported by rising order volumes despite a decline in export demand, a business survey showed.
The Riyad Bank Saudi Arabia Purchasing Managers’ Index registered 53.1 in July, down marginally from 53.3 in June, but holding well above the neutral threshold of 50.
Nearly 19% of firms reported an increase in output, compared with only 4% that saw a decline. New order volumes supported growth though the pace eased from June.
Regional conflict weighed on export orders. “Export orders declined for the fifth consecutive month as elevated freight costs and regional tensions weighed on international trade, although the pace of contraction eased compared with previous months,” the report said.
Input cost inflation eased to a four-month low but remained sharp relative to historical trends.
Companies continued to pass higher costs on to customers, leading to another sharp rise in output prices, though the increase was slightly softer than in June.
Staff expenses climbed at the strongest rate in five months, reflecting salary increases in response to inflationary pressures.
“The sustained expansion in domestic demand, resilient business activity and improving supply side conditions reinforce our expectation that Saudi Arabia’s non-oil economy will maintain solid growth momentum through the second half of the year, supported by strong underlying economic fundamentals and continued progress in economic diversification,” said Naif Al-Ghaith, Chief Economist at Riyad Bank
Non-oil private sector firms added jobs in July, but well below the levels seen in early 2026.
Looking ahead, business confidence for the year ahead softened from June’s five-month peak, with just 8% of non-oil private sector firms expecting output to grow.
Parts for iPhones to cost more owing to surging demand from AI companies.
Arab Bank Group reported a 7% increase in net profit to $571 million in the first half of 2026, supported by higher fee and commission income. The lender also expanded its balance sheet, with total assets rising to $80.3 billion and customer deposits reaching $58.8 billion.
Jordan-based Arab Bank Group has reported solid results for the first half of 2026 which rose to $571 million, up 7% over last year’s figure of $535.3 million, as the growth in fee and commission income helped offset a challenging regional and global operating environment.
Announcing the results the six-months period ended June 30, 2026, Arab Bank said the Group maintained its strong capital base with a total equity of $13.5 billion.
Its total assets increased 7% to $80.3 billion, while loans grew 6% to $42.1 billion.
The customer deposits rose 6% to $58.8 billion, while total equity stood at $13.5 billion.
On the solid results, Chairman Sabih Masri said the Group’s sustained positive performance in the first half achieved despite continuing regional and global uncertainty, reflects the strength of the bank’s strategy and the soundness of its fundamentals.
Masri said the bank continues to monitor regional development with vigilance and discipline, managing risk proactively while preserving the strength of its balance sheet and delivering solid, sustainable returns to shareholders.
He pointed out that the lender continued to monitor geopolitical developments closely while maintaining disciplined risk management and a strong balance sheet.
The bank, he said, was expanding its presence in key markets, including the resumption of operations in Syria, the launch of an Islamic banking window in Algeria and the continued development of its franchise in Iraq.
It is also strengthening its wealth management business through its Swiss unit, he added.
CEO Randa Sadik said revenue increased 3% in the first half, supported by strong growth in non-funded income, contributing to the increase in net profit.
The bank’s balance sheet continued to expand, reflecting its focus on financial strength and sustainable growth, she stated.
“The Group has maintained solid balance sheet growth of 7%, reflecting its ongoing focus on financial strength and sustainable growth. This performance underscores the Group’s commitment to delivering consistent value and supporting long-term business objectives,” she added.
The sports-car maker delivered 279,449 cars last year, down from 310,718 in 2024.
Zero income tax. No capital gains. Golden Visa pathways for investors. The UAE’s financial architecture is unlike anywhere else on earth.
The creators are navigating this ecosystem for millions of followers across the Gulf.
The financial questions being asked in Dubai and Doha are unlike those being asked anywhere else. Zero income tax. No capital gains levy. A Golden Visa scheme that is reshaping who chooses the Gulf as a permanent financial base. A crypto regulatory framework more coherent than most Western equivalents. DIFC and QFC sitting at the exact midpoint between the European and Asian trading day, managing capital from more than two hundred nationalities. The finance creators who navigate this environment for audiences of millions are not explaining a generic financial system. They are mapping one of the most deliberately advantaged economic architectures on earth.
This is not a ranking of the most followed accounts in the Middle East. It is a ranking of the voices most useful to the people actually living and building wealth in Dubai and Doha — expats encountering a tax-free salary for the first time, GCC nationals navigating Islamic finance requirements alongside global investment options, and international entrepreneurs who chose the Gulf specifically for what its financial structure makes possible.
| Dubai and Doha’s finance creators serve the most internationally complex financial demographic in the world. No generic personal finance content has ever been sufficient for this audience. |

1. Ahmed Sanad – @a.sanad.a · Investing & Financial Education, UAE
Ahmed Sanad is one of the UAE’s most recognizable investment educators, creating Arabic-first content around stock markets, long-term investing and Shariah-compliant wealth building. His videos simplify complex financial concepts, making investing more accessible to younger audiences across the Gulf. His audience represents a growing segment of first-time investors actively participating in the UAE’s expanding capital markets.

2. CA Anamika Rana – @ca_anamikarana · Finance & Tax Education, UAE
CA Anamika Rana combines accounting expertise with practical financial education, covering investing, taxation, global markets and personal finance through accessible digital content. As a chartered accountant, she focuses on helping professionals and entrepreneurs make informed financial decisions. Her audience includes business owners, expatriates and professionals navigating financial planning in the UAE.

3. Kartik Iyer – @financial.wingman · Personal Finance & Investing, UAE
Kartik Iyer creates educational content focused on investing, wealth creation and financial literacy, translating complex financial principles into straightforward advice for everyday investors. His background as a CFA Charterholder adds credibility to content covering markets, portfolios and long-term investing. His audience largely consists of young professionals beginning their investment journey across the UAE.

4. Sophia Bhatti – @sophiabwealth · Wealth Management, UAE
Sophia Bhatti shares insights into wealth management, investment strategy and long-term financial planning, drawing on years of experience advising high-net-worth individuals and families. Her content focuses on preserving and growing wealth rather than short-term market trends. Her audience includes affluent professionals, business owners and investors seeking sophisticated financial advice.

5. Keren Bobker – @financialuae · Personal Finance, UAE
Keren Bobker has become one of the UAE’s most trusted voices in personal finance through years of financial advisory work and regular commentary on household money management. Her content addresses budgeting, retirement planning, debt management and broader financial wellbeing. Her audience spans working professionals, families and expatriates seeking practical financial guidance tailored to life in the UAE.

6. Sandeep Jadwani – @sandeep_investmentadvisor · Investment Advisory, UAE
Sandeep Jadwani produces content centered on investment strategy, portfolio management and market trends, leveraging decades of experience in financial advisory services. His commentary frequently explores macroeconomic developments and their implications for investors. His audience includes experienced investors, executives and wealth-conscious professionals throughout the UAE.

7. William Jones – @will_investment_advisor · Investing & Wealth Creation, UAE
William Jones focuses on helping individuals build long-term wealth through disciplined investing and financial education. His content covers investment principles, financial independence and strategies for creating sustainable wealth over time. His audience primarily consists of professionals and aspiring investors looking to strengthen their financial future.

8. Wali Khan – @wali_2k · Personal Finance, UAE
Wali Khan creates educational content designed for younger professionals, covering budgeting, investing, productivity and financial discipline. His approachable style makes personal finance more accessible for audiences beginning their wealth-building journey. His community reflects a digitally native generation increasingly focused on financial independence and smarter money management.

9. Maria Jameel – @investmentwithmj · Investment & Wealth, UAE
Maria Jameel shares investment-focused content centered on wealth creation, financial opportunities and long-term portfolio growth. Her educational approach encourages individuals to make informed financial decisions while exploring different investment strategies. Her audience includes aspiring investors, entrepreneurs and professionals interested in expanding their investment knowledge.

10. Luiz Claudio – @iamcryptoguy · Crypto & Macro Investing, UAE
Luiz Claudio creates content exploring cryptocurrency markets alongside broader macroeconomic and investment trends. Drawing on more than 15 years of finance experience, he explains digital assets within the wider context of global investing rather than treating crypto as a standalone market. His audience includes technology-focused investors and individuals following alternative asset classes across the UAE.
The finance content ecosystem serving Dubai and Doha has matured significantly — and unevenly. The best creators have evolved from lifestyle-adjacent business commentary into genuine financial education: specific to jurisdiction, calibrated for a financially sophisticated international audience, and consequential for the real decisions their followers make. Kanebridge News ME covers the same territory editorially. These are the ten voices whose audiences it should be in conversation with.
Parts for iPhones to cost more owing to surging demand from AI companies.
Gold recovered above the US$4,000 mark after last week’s pullback, but analysts say the correction is masking a deeper shift in global demand. While short-term investors have reduced exposure, central banks and long-term buyers—particularly in China—continue to increase their gold holdings, reinforcing gold’s role as a strategic reserve asset.
Gold has climbed back above the psychologically important US$4,000 level after briefly falling below it last week. While prices remain modestly lower year-to-date and around 25% below January’s record high, the recent correction masks a significant shift in who is selling and who is buying, according to Nagham Hassan, Market Analyst at etoro.
“The recent weakness in gold has been driven primarily by changing interest rate expectations rather than a deterioration in the long-term investment case,” said Hassan. “Higher US real yields and a stronger dollar have weighed on prices, prompting selling from Western investors and futures traders. At the same time, central banks and long-term buyers, particularly in China, have continued accumulating physical gold.”
According to the World Gold Council, global gold ETFs have returned to net outflows, while COMEX open interest has fallen to its lowest level since 2009, highlighting reduced speculative positioning in the market.
However, official demand remains robust. The People’s Bank of China added 15 tonnes of gold in June, marking its largest monthly purchase since October 2023 and extending its buying streak to 20 consecutive months, taking official holdings to 2,346 tonnes.
The World Gold Council’s 2026 Central Bank Survey further reinforces this trend. Nearly 89% of reserve managers expect global central bank gold reserves to increase over the next year, while a record 45% plan to increase their own holdings. Gold has now overtaken US Treasuries as a share of global official reserves, with almost three-quarters of surveyed central banks expecting the US dollar’s share of reserves to continue declining over the next five years.
“This tells us that the de-dollarisation trend remains firmly in place,” Hassan added. “While short-term traders have reduced exposure, long-term institutional buyers continue viewing gold as a strategic reserve asset.”
China signals a growing focus on physical gold
Recent developments in China also point to a changing market structure. Several major Chinese banks, including ICBC, have announced they will discontinue retail paper and leveraged gold trading on the Shanghai Gold Exchange after 24 July 2026, while leaving physical gold ownership unaffected.
“Taken alongside Hong Kong’s continued expansion of physical vault capacity, these developments suggest an increasing emphasis on physical ownership rather than paper exposure,” Hassan explained.
Investor behaviour within China is also evolving. Chinese equity ETFs have experienced larger outflows than gold ETFs, while the Huaan Yifu Gold ETF has become China’s largest exchange-traded fund, overtaking the CSI 300 ETF for the first time.
Technical picture remains mixed
For active traders, Hassan notes that gold remains in a corrective phase.
“Gold continues to trade below a declining trendline while forming lower highs. The immediate support zone lies between US$3,958 and US$3,896. Holding this range could support a rebound, while a sustained break below would expose stronger support around US$3,513.”
On the upside, she says the first key resistance remains the descending trendline, followed by the 200-day moving average near US$4,493, which would need to be reclaimed to improve the medium-term outlook.
Long-term demand remains intact
Despite near-term volatility, Hassan believes the underlying structural story for gold remains positive.
“The current correction reflects changing expectations around interest rates more than changing conviction in gold itself. While Western investors have reduced exposure, central banks continue accumulating physical bullion at record levels, and Chinese investors are increasingly favouring physical ownership. The composition of gold buyers is changing, and that shift could prove more important than today’s price movements.”
Many of the most-important events have slipped from our collective memories. But their impacts live on.
Kuwait’s annual inflation rate rose 2.19% in June, driven by higher prices for food, transport, healthcare, education, clothing, and other consumer goods, according to official data. Food and beverages saw the largest increase at 5.55%, while miscellaneous goods and services climbed 5.8%.
Kuwait’s consumer price index (CPI), a key measure of inflation, increased by 2.19% year-on-year at the end of June, driven by higher prices across several main expenditure groups, official data showed on Monday.
The Central Statistical Bureau (CSB) said the annual inflation rate was mainly attributed to increases in the prices of food, healthcare, clothing, education, and miscellaneous goods and services.
According to the data, carried by KUNA, the food and beverages group recorded the highest annual increase, rising 5.55% compared with June 2025, while tobacco and cigarette prices remained unchanged.
The clothing and footwear index rose 0.89% year-on-year, while housing services increased 0.16%. Prices for household furnishings and maintenance climbed 1.11%, and the healthcare index advanced 1.03%.
The transport group posted a notable annual increase of 4.83%, while communications prices rose 1.03%. Recreation and culture recorded a 1.13% increase, and education prices were up 1.02%.
The CSB added that restaurant and hotel prices increased by 0.22% annually, while miscellaneous goods and services registered a 5.8% rise.
Two coming 2027 models – the first of the “Neue Klasse” cars coming to the U.S. early next year – have been revealed.