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AIX Investment Group steps into Formula 1 with Pierre Gasly

Pierre Gasly, currently racing for the BWT Alpine F1 Team, is known for his talent, strategic mindset, and ability to perform under pressure

Gulf Business
Gulf Business

11 April, 2025

AIX Investment Group steps into Formula 1 with Pierre Gasly
Image credit: Supplied

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AIX Investment Group has announced its official sponsorship of Formula 1 driver Pierre Gasly for the 2025 season.

As part of this partnership, AIX Investment Group’s logo will be prominently featured on the side panel of Gasly’s helmet throughout the Formula 1 World Championship, beginning with the Bahrain Grand Prix.

Pierre Gasly, currently racing for the BWT Alpine F1 Team, is known for his talent, strategic mindset, and ability to perform under pressure.

“From his early days in karting to his Grand Prix victory at Monza, Gasly has consistently demonstrated the skill, determination, and ambition that defines a Formula 1 competitor. As a key figure on the grid, his journey continues to inspire fans and set a benchmark for excellence in motorsport,” said AIX Investment Group in a statement.

The company says this collaboration marks a shared commitment to performance, innovation, and global exposure. As Gasly competes on the world stage, AIX Investment Group is expecting to benefit from elevated global exposure and visibility, strengthening its presence across key markets and audiences.

“This partnership represents a step forward in our motorsport journey, from supporting young talent through our Formula 2 and Formula 3 teams, AIX Racing, to now having a presence in Formula 1,” said Morne Reinecke, Director at AIX Investment Group. “It’s a key milestone and a meaningful step toward continued growth.”

Apple airlifts 1.5m iPhones from India ‘to beat’ Trump tariffs

Analysts have warned that US prices of iPhones could surge, given Apple’s high reliance on imports from China, the main manufacturing hub of the devices

Reuters
Reuters

10 April, 2025

Apple airlifts 1.5m iPhones from India ‘to beat’ Trump tariffs
Image credit: Apple

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Tech giant Apple chartered cargo flights to ferry 600 tonness of iPhones, or as many as 1.5 million, to the United States from India, after it stepped up production there in an effort to beat President Donald Trump’s tariffs, sources told Reuters.

Read- Apple announces major retail expansion in Saudi Arabia

The details of the push provide an insight into the US smartphone company’s private strategy to navigate around the Trump tariffs and build up inventory of its popular iPhones in the United States, one of its biggest markets.

Surge in iPhone prices

Analysts have warned that US prices of iPhones could surge, given Apple’s high reliance on imports from China, the main manufacturing hub of the devices, which is subject to Trump’s highest tariff rate of 125 per cent.

That figure is far in excess of the tariff of 26 per cent on imports from India, but which is now on hold after Trump called a 90-day pause this week that excludes China.

Apple “wanted to beat the tariff,” said one of the sources familiar with the planning.

The company lobbied Indian airport authorities to cut to six hours the time needed to clear customs at the Chennai airport in the southern state of Tamil Nadu, down from 30 hours, the source added.

‘Green corridor arrangement’

The so-called “green corridor” arrangement at the airport in the Indian manufacturing hub emulated a model Apple uses at some airports in China, the source said.

About six cargo jets with a capacity of 100 tons each have flown out since March, one of them this week just as new tariffs kicked in, the source and an Indian government official said.

The packaged weight of an iPhone 14 and its charging cable come to about 350 grams (12.35 oz), Reuters measurements show, implying the total cargo of 600 tons comprised about 1.5 million iPhones, after accounting for some packaging weight.

Apple and India’s aviation ministry did not respond to a request for comment. All the sources sought anonymity as the strategy and discussions were private.

Apple sells more than 220 million iPhones a year worldwide, with Counterpoint Research estimating a fifth of total iPhone imports to the United States now come from India, and the rest from China.

Trump consistently increased US tariffs on China, to stand at 125 per cent by Wednesday, from 54 per cent earlier.

At the 54 per cent tariff rate, the $1,599 cost of the top-end iPhone 16 Pro Max in the United States would have surged to $2,300, calculations based on projections by Rosenblatt Securities show.

Sunday shifts

In India, Apple stepped up air shipments to meet its goal of a 20 per cent increase in usual production at iPhone plants, attained by adding workers, and temporarily extending operations at the biggest Foxconn India factory to Sundays, the source added.

Two other direct sources confirmed the Foxconn plant in Chennai now runs on Sundays, which is typically a holiday. The plant turned out 20 million iPhones last year, including the latest iPhone 15 and 16 models.

As Apple diversifies its manufacturing beyond China, it has positioned India for a critical role. Foxconn and Tata, its two main suppliers there, have three factories in all, with two more being built.

Apple spent about eight months to plan and set up the expedited customs clearance in Chennai, and Prime Minister Narendra Modi’s government asked officials to support Apple, one senior Indian official said.

Foxconn shipments from India to the United States surged in value to $770m in January and $643m in February, compared to the range of $110m to $331m in the prior four months, commercially available customs data shows.

More than 85 per cent of the January and February air shipments of Foxconn were offloaded in Chicago, Los Angeles, New York and San Francisco.

Dubai’s RTA adopts new technology for road assessment

The technology also enables safe and efficient inspection of elevated assets along highways and major roads

Gulf Business
Gulf Business

10 April, 2025

Dubai’s RTA adopts new technology for road assessment
Image credit: WAM

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Dubai’s Roads and Transport Authority (RTA) has adopted the latest LiDAR (Light Detection and Ranging) technology to assess the condition of roads and enhance the accuracy of data used in digital twin platforms.

Read-Dubai’s RTA launches new policy: Zero waiting time for 82 services

This initiative supports the development of preventive, predictive, and proactive maintenance strategies, while underscoring RTA’s continued efforts to integrate advanced smart technologies into the management and maintenance of road assets. These efforts ensure the sustainability of the road network and reinforce traffic safety across Dubai.

LiDAR Technology: Functions and advantages

“LiDAR technology provides a remarkable boost in performance and speed, delivering up to 300 per cent improvements compared to traditional visual inspections. This advancement reflects RTA’s commitment to accelerating digital transformation and leveraging cutting-edge technologies to enhance the quality of Dubai’s road infrastructure, while ensuring its efficiency, resilience, and long-term sustainability. The initiative aligns with the leadership’s vision of positioning Dubai as a smart and sustainable global city,” said Hussain Al Banna, CEO of the Traffic and Roads Agency at RTA.

LiDAR offers superior accuracy and speed in evaluating road assets, delivering up to 95 per cent accuracy compared to conventional methods. It also contributes to the enhancement of data quality, facilitating more informed and efficient maintenance decisions.

“The technology also enables safe and efficient inspection of elevated assets along highways and major roads, such as lighting poles, traffic signals, and road signs, thereby improving road safety and reducing risks associated with manual inspections,” Al Banna added.

How does the technology assess roads?

LiDAR enables the daily assessment of up to 80 km of roads, representing a 96 per cent improvement over traditional methods, which typically cover only 3 km.

This capability ensures continuous monitoring of asset conditions and regular updates to data records. Assessments can be carried out while in motion at speeds ranging from 30 to 100 km/hr, without disrupting traffic flow. With a sensing range of up to 80 meters, the technology ensures comprehensive coverage of various road assets.

This advanced technology delivers highly accurate data and detailed analysis of asset conditions, supporting the long-term sustainability of the Asset Condition Index (ACI). It enables precise scheduling of maintenance activities, particularly predictive maintenance, and helps prioritise interventions based on clearly defined strategic criteria. Ultimately, this approach reinforces the sustainability and operational efficiency of Dubai’s road infrastructure.

Dubai’s food scene: Emirate ranks second globally as gastronomy capital

Dubai also topped the list for offering the most variety of dining experiences, ahead of Paris and Singapore

Gulf Business
Gulf Business

10 April, 2025

Dubai’s food scene: Emirate ranks second globally as gastronomy capital
Image credit: WAM

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The Dubai International Brand Tracker has revealed the emirate’s prominent standing in the gastronomy and culinary arts sector.

Data from the first half of 2024 shows that Dubai ranked second globally, behind Paris, as a leading global capital for food, restaurants, and culinary arts, surpassing other prominent destinations such as London, New York, and Tokyo.

Read-Great List debuts in Dubai: A curated dining guide for business and leisure

Dubai also topped the list for offering the most variety of dining experiences, ahead of Paris and Singapore.

Dubai’s status as a destination for food tourism

Dubai’s growing status as a leading destination for food tourism and one of the world’s fastest-growing gastronomy capitals in 2024 has been highlighted in the third annual Dubai Gastronomy Industry Report, issued by the Dubai Department of Economy and Tourism.

According to a WAM report, the findings also reflect the latest trends, major achievements, and key milestones in the emirate’s food and restaurant sector over the past year, including the issuance of 1,200 new restaurant licenses across various categories and cuisines.

These achievements reflect Dubai’s multicultural identity and reinforce its commitment to offering a diverse range of options that cater to the tastes of both residents and visitors.

Food lovers survey results

The latest edition of the “Gastronomy Always On” campaign report by the Dubai Department of Economy and Tourism yielded positive results, with customer satisfaction reaching 62 percent. The results were based on a survey conducted among food lovers and restaurant-goers in Dubai during September and October 2024.

The report included feedback from more than 1,100 respondents from various demographic groups in Dubai. The sixth edition revealed shifts in food preferences and tastes.

The report highlighted high satisfaction levels based on key factors that residents consider when choosing a dining destination. These include:

  • Variety (70 per cent satisfaction, up 3 per cent from the fifth edition)
  • Innovation (61 per cent, up 2 per cent)
  • Cultural heritage (58 per cent, up 1 per cent)
  • World-class chefs (64 per cent, up 2 per cent)

“Dubai’s food and restaurant sector is a key pillar of the emirate’s tourism strategy and ambitious vision. Its continued growth reflects the wise leadership’s vision to achieve the objectives of the Dubai Economic Agenda D33, which aims to make the emirate the best city in the world to live, work, and visit,” said Ahmed Al Khaja, CEO of Dubai Festivals and Retail Establishment at the Department of Economy and Tourism.

The 2024 Gastronomy Industry Report reaffirms Dubai’s leading position as a global center for gastronomy and culinary arts and highlights the diversity of its food offerings and unique restaurant concepts, inspired by the approximately 200 nationalities residing in Dubai, Al Khaja emphasized.

Role of social media

Social media and digital platforms have played a significant role in promoting Dubai’s culinary offerings and enhancing engagement with food lovers.

According to data from the Dubai Department of Economy and Tourism, 70 percent of restaurant-goers in the UAE seek recommendations from social media before choosing a restaurant to visit.

Dubai residents place great importance on hygiene when selecting a dining destination, aligning with the city’s commitment to best practices and enhancing the sense of reassurance among diners.

The survey showed that 50 percent of respondents considered hygiene the most important factor, followed by cuisine type (49 per cent), ambiance (43 per cent), service quality (42 per cent), and value for money (38 per cent).

Online reviews and feedback from diners also play an increasingly significant role in restaurant selection, influencing everyday meal choices (27 per cent) and special occasions (34 per cent).

Google data also recorded 741,500 online searches related to Dubai’s food and beverage offerings during the first seven months of 2024. This shows a 23.5 per cent increase compared to 600,500 searches during the same period the previous year.

Abu Dhabi slashes speed limit on these 2 key roads

The updated speed limits will kick in on April 14

Gulf Business
Gulf Business

10 April, 2025

Abu Dhabi slashes speed limit on these 2 key roads
Image: WAM/ For illustrative purposes

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Motorists travelling to Abu Dhabi will need to ease off the accelerator as authorities move to reduce speed limits on two major highways by 20 kilometres per hour, effective April 14.

The Abu Dhabi Integrated Transport Centre (Abu Dhabi Mobility) confirmed the updated speed regulations on social media platform X. The move aims to enhance road safety.

Speed limit cut on the following roads

Under the revised rules, speed limits on the Abu Dhabi–Sweihan Road (E20) will drop from 120km/h to 100km/h, while the Sheikh Khalifa bin Zayed International Road (E11) will see a reduction from 160km/h to 140km/h.

The speed limit on Sheikh Khalifa bin Zayed International Road (E11) will be reduced from 160 km/h to 140 km/h, effective April 14th, 2025. pic.twitter.com/JBD4ky4xR9

— أبوظبي للتنقل | AD Mobility (@ad_mobility) April 9, 2025

The speed limit on the Abu Dhabi – Sweihan Road (E20) will be reduced from 120 km/h to 100 km/h, effective April 14th, 2025. pic.twitter.com/0jae8YJS42

— أبوظبي للتنقل | AD Mobility (@ad_mobility) April 9, 2025

The changes are part of broader traffic safety measures being introduced across the emirate, with authorities urging drivers to remain vigilant and adhere to the new limits once they come into effect.

Read: New update on Dubai’s variable parking tariff policy; see details

Trump’s stunning tariff pause focuses trade war on China

The upheaval erased trillions of dollars from stock markets and led to an unsettling surge in US government bond yields

Reuters
Reuters

10 April, 2025

Trump’s stunning tariff pause focuses trade war on China
Image credit: Getty Images

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US President Donald Trump’s stunning decision to pause the hefty duties he had just imposed on dozens of countries sent battered global stock markets surging on Thursday, even as he ratcheted up a trade war with China.

Trump’s turnabout on Wednesday, which came less than 24 hours after steep new tariffs kicked in on most trading partners, followed the most intense episode of financial market volatility since the early days of the Covid-19 pandemic.

Read- Markets rebound as Trump imposes 90-day pause on tariffs

The upheaval erased trillions of dollars from stock markets and led to an unsettling surge in US government bond yields that appeared to catch Trump’s attention.

“I thought that people were jumping a little bit out of line, they were getting yippy, you know,” Trump told reporters after the announcement, referring to jitters sportspeople sometimes get.

US stock indexes shoot higher

US stock indexes shot higher on the news, with the benchmark S&P 500 index closing 9.5 per cent higher, and the relief continued into Asian trading on Thursday with Japan’s Nikkei index surging 8 per cent.

European futures also pointed to big gains, but there were already signs the rally may be short-lived with US stock futures trading lower. Oil prices also fell around 1 per cent, extending a grim spell fuelled by fears that the trade tensions could push the global economy towards recession.

Since returning to the White House in January, Trump has repeatedly threatened an array of punitive measures on trading partners, only to revoke some of them at the last minute. The on-again, off-again approach has baffled world leaders and spooked business executives.

US Treasury Secretary Scott Bessent asserted that the pullback had been the plan all along to bring countries to the bargaining table. Trump, though, later indicated that the near-panic in markets that had unfolded since his April 2 announcements had factored in to his thinking.

Despite insisting for days that his policies would never change, he told reporters on Wednesday: “You have to be flexible.”

Pressure on China

But he kept the pressure on China, the world’s No. 2 economy and second biggest provider of U.S. imports. Trump immediately hiked the tariff on Chinese imports to 125 per cent from the 104 per cent level that kicked in on Wednesday.

Chinese companies that sell products on Amazon are preparing to hike prices for the US or quit that market due to the “unprecedented blow” from the tariffs, the head of China’s largest e-commerce association said.

Beijing may again respond in kind after slapping 84 per cent tariffs on US imports on Wednesday to match Trump’s earlier tariff salvo. It has repeatedly vowed to “fight to the end” in the escalating trade war between the world’s top two economies.

“The US and China are currently in a powerplay game of brinkmanship,” said ING global head of markets Chris Turner.

Beijing said it had held talks with the European Union and Malaysia on strengthening trade in response to the tensions, although Australia said it had rebuffed an offer from China, its top trading partner, to work together to counter the tariffs.

“We are not going to be holding hands with China in respect of any contest that is going on in the world,” Deputy Prime Minister Richard Marles told Sky News.

Hopes of state support helped prop up Chinese stocks on Thursday, even as its yuan currency fell to its weakest level since the global financial crisis.

Goaded China

Trump’s reversal on the tariffs imposed on other countries is also not absolute. A 10 per cent blanket duty on almost all US imports will remain in effect, the White House said. The announcement also does not appear to affect duties on autos, steel and aluminum that are already in place.

Trump’s tariffs had sparked a days-long selloff that erased trillions of dollars from global stocks and pressured US Treasury bonds and the dollar, which form the backbone of the global financial system. Canada and Japan said they would step in to provide stability if needed – a task usually performed by the United States during times of economic crisis.

Analysts said the sudden spike in share prices might not undo all of the damage. Surveys have found slowing business investment and household spending due to worries about the impact of the tariffs, and a Reuters/Ipsos survey found that three out of four Americans expect prices to increase in the months ahead.

Goldman Sachs cut its probability of a recession back to 45 per cent after Trump’s move, down from 65 per cent, saying the tariffs left in place were still likely to result in a 15 per cent increase in the overall tariff rate.

Treasury Secretary Bessent shrugged off questions about market turmoil and said the abrupt reversal rewarded countries that had heeded Trump’s advice to refrain from retaliation. He suggested Trump had used the tariffs to create maximum negotiating leverage. “This was his strategy all along,” Bessent told reporters. “And you might even say that he goaded China into a bad position.”

Bessent is the point person in the country-by-country negotiations that could address foreign aid and military cooperation as well as economic matters. Trump has spoken with leaders of Japan and South Korea, and a delegation from Vietnam met with U.S. officials on Wednesday to discuss trade matters, the White House said.

Bessent declined to say how long negotiations with the more than 75 countries that have reached out might take.

Resolution with China

Trump said a resolution with China was possible as well. But officials have said they will prioritise talks with other countries.

“China wants to make a deal,” Trump said. “They just don’t know how quite to go about it.”

Trump told reporters that he had been considering a pause for several days. On Monday, the White House denounced a report that the administration was considering such a move, calling it “fake news.”

Earlier on Wednesday, before the announcement, Trump tried to reassure investors, posting on his Truth Social account, “BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!”

Later, he added: “This is a great time to buy!!!”

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