Global stock markets have snapped back nicely after US President Donald Trump eased his proposed trade tariffs, while investors have also shrugged off rising Middle East tension. Yet uncertainty remains.
Some investors will be looking to play it safe, while others may be keen to go on the offensive.
Tony Hallside, chief executive at Dubai-based advisers STP Partners, sees “a meaningful window for investors to position themselves ahead of a broader shift in market dynamics”.
If you are looking to invest $10,000 (Dh36,725) over the next quarter, here are three potential strategies.
The first involves investing in the forgotten continent, the second targets a low-risk asset class that may swing back into favour, while the third looks towards two economic powerhouses due for a recovery.
As with any investment, always consider both the risks and rewards, and aim to hold for the long term. Mr Hallside says: “Don’t chase hot tips but look for structural plays that can deliver over a five to 10-year horizon.”
1. European stocks
Investors snubbed Europe for years as they chased the US bull market ever higher. That is now changing.
In April, BlackRock chief executive Larry Fink said Europe is finally “waking up” after years of stagnation and regulatory gridlock, predicting a productivity boom as the EU tears down internal trade barriers and embraces reform.
Others agree. Luca Paolini, chief strategist at Pictet Asset Management, says European economies will benefit from big fiscal programmes and deregulation, while the US slows. “This will spell the end of US stock market outperformance,” he predicted.
A survey by Natixis Investment Managers found that seven in 10 strategists expect European markets to beat the US in 2025. Almost half backed defence stocks to deliver the strongest returns as Europe rearms.
Vijay Valecha, chief investment officer at Century Financial in Dubai, also favours Europe as monetary policy becomes less restrictive. “Interest rate cuts are making new borrowing less expensive for firms and households, and loan growth is picking up,” he says.
The European Commission has announced a €150 billion ($175.8 billion) funding mechanism to support defence, with total spending potentially reaching €800 billion.
Germany’s €500 billion stimulus package is another long-term boost, he adds.
Mr Valecha says this is driving interest in domestic-focused European stocks, particularly in infrastructure, industrials, energy and defence. “Also, European equities remain relatively inexpensive compared to their US counterparts. This offers an attractive entry point for global investors.”
He suggests exchange-traded funds such as the Select STOXX Europe Aerospace & Defence ETF, which targets sectors powering Europe’s economic transformation.
Don’t completely abandon the US, Mr Hallside cautions. “There’s been a lot of noise around whether valuations are stretched, but given earnings resilience, free cash flow and US consumer strength, it’s hard to argue against staying invested.”
He suggests buying ETFs to track the S&P 500 or Nasdaq. “Use market dips as entry points,” Mr Hallside recommends.
2. Bonds are back
After years in the doldrums, fixed income is finally catching investors’ attention again.
With interest rate cuts on the horizon and equity markets looking fully priced, bonds offer both income and stability in an uncertain world.
Mr Valecha notes that while the US Federal Reserve held its funds rate at 4.25 per cent to 4.5 per cent in June, a cut in September is a near certainty.
"This would support long-dated US government bonds, or Treasuries, which are more sensitive to rate shifts. ETFs such as the iShares 20+ Year Treasury Bond ETF (TLT) offer exposure to this trade,” he explains.
He also sees promise in US municipal bonds. “State and local governments have maintained solid fiscal health. Elevated yields in municipal bonds provide attractive income opportunities.” He points to the Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (GBAB), which offers yields as high as 10 per cent.
Mr Paolini at Pictet is also keen. “Global investors should increase their overall exposure to bonds, which is now very low after a decade of very poor performance.” He sees value in emerging market debt, inflation-linked US Treasuries and developed market credit.
Mark Munroe, investment director at fund manager Aberdeen, says short-dated bonds are “in something of a sweet spot right now”. “They allow investors to lock into attractive yields that are higher than cash, while keeping volatility low.”
He adds that most investors now expect interest rates to come down gradually, and favours lower-risk investment grade corporate bonds.
The risks? Shifting inflation or tariff pressures could hit bonds. However, with yields still attractive, now is a good time to invest.
Options include the Vanguard Short-Term Treasury ETF, iShares 0–5 Years TIPS Bond ETF, or the iShares 0–5 Year Investment Grade Corporate Bond ETF.
Mr Valecha says safety seekers should not ignore gold either. “The precious metal is now more than just a safety play, it’s becoming a strategic asset. The price could hit between $3,600 and $3,800 in the medium term and possibly exceed $4,000 if current trends continue.”
Stick to a buy-on-dips strategy. Get exposure to gold through ETFs like SPDR Gold Trust (GLD) or physical gold, he says.
3. India and China
These two economic giants have had a rough ride lately, but experts suggest the worst may soon be over.
There is a meaningful window for investors to position themselves ahead of a broader shift in market dynamics
Tony Hallside,
chief executive, STP Partners
India’s growth story has been hit by a slowdown in consumer spending, tight liquidity and falling government expenditure, all worsened by fears of US tariffs.
Yet investment managers say valuations have now dropped to more reasonable levels, presenting a fresh entry point for long-term investors who can handle a little volatility.
Rita Tahilramani, investment director of the abrdn New India Investment Trust, views India’s slowdown “as temporary and cyclical in nature”.
“The Reserve Bank of India started its rate cutting cycle in February and is adding liquidity to the market,” she says.
"While earnings growth slowed in the most recent reporting season, we expect India to continue generating comfortable double-digit earnings growth going into next year."
Despite geopolitical risks, she remains bullish on India’s long-term potential, citing support for middle-class consumption, infrastructure investment and manufacturing incentives. “Any correction in share prices would be, in our view, a buying opportunity,” she adds.
Rob Burgeman, wealth manager at RBC Brewin Dolphin, has his eyes on China. “All of a sudden, it looks like an interesting place to invest,” he says, highlighting progress in artificial intelligence and signs that new tariffs may be less damaging than feared.
Mr Burgeman says the weaker US dollar, shifting supply chains and lighter debt loads should all work in favour of emerging markets. “What’s good for China is often good for the wider Asia Pacific region as well,” he adds.
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
Need to know
The flights: Flydubai flies from Dubai to Kilimanjaro airport via Dar es Salaam from Dh1,619 return including taxes. The trip takes 8 hours.
The trek: Make sure that whatever tour company you select to climb Kilimanjaro, that it is a reputable one. The way to climb successfully would be with experienced guides and porters, from a company committed to quality, safety and an ethical approach to the mountain and its staff. Sonia Nazareth booked a VIP package through Safari Africa. The tour works out to $4,775 (Dh17,538) per person, based on a 4-person booking scheme, for 9 nights on the mountain (including one night before and after the trek at Arusha). The price includes all meals, a head guide, an assistant guide for every 2 trekkers, porters to carry the luggage, a cook and kitchen staff, a dining and mess tent, a sleeping tent set up for 2 persons, a chemical toilet and park entrance fees. The tiny ration of heated water provided for our bath in our makeshift private bathroom stall was the greatest luxury. A standard package, also based on a 4-person booking, works out to $3,050 (Dh11,202) per person.
When to go: You can climb Kili at any time of year, but the best months to ascend are January-February and September-October. Also good are July and August, if you’re tolerant of the colder weather that winter brings.
Do not underestimate the importance of kit. Even if you’re travelling at a relatively pleasant time, be geared up for the cold and the rain.
Indika
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
MATCH INFO
Bayern Munich 2 Borussia Monchengladbach 1
Bayern: Zirkzee (26'), Goretzka (86')
Gladbach: Pavard (37' og)
Man of the Match: Breel Embolo (Borussia Monchengladbach)
ESSENTIALS
The flights
Fly Etihad or Emirates from the UAE to Moscow from 2,763 return per person return including taxes.
Where to stay
Trips on the Golden Eagle Trans-Siberian cost from US$16,995 (Dh62,414) per person, based on two sharing.
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
Results
1. Lewis Hamilton (Mercedes) 1hr 32mins 03.897sec
2. Max Verstappen (Red Bull-Honda) at 0.745s
3. Valtteri Bottas (Mercedes) 37.383s
4. Lando Norris (McLaren) 46.466s
5.Sergio Perez (Red Bull-Honda) 52.047s
6. Charles Leclerc (Ferrari) 59.090s
7. Daniel Ricciardo (McLaren) 1:06.004
8. Carlos Sainz Jr (Ferrari) 1:07.100
9. Yuki Tsunoda (AlphaTauri-Honda) 1:25.692
10. Lance Stroll (Aston Martin-Mercedes) 1:26.713,
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The specs
Engine: 6.2-litre V8
Transmission: seven-speed auto
Power: 420 bhp
Torque: 624Nm
Price: from Dh293,200
On sale: now
Recipe: Spirulina Coconut Brothie
Ingredients
1 tbsp Spirulina powder
1 banana
1 cup unsweetened coconut milk (full fat preferable)
1 tbsp fresh turmeric or turmeric powder
½ cup fresh spinach leaves
½ cup vegan broth
2 crushed ice cubes (optional)
Method
Blend all the ingredients together on high in a high-speed blender until smooth and creamy.
Springtime in a Broken Mirror,
Mario Benedetti, Penguin Modern Classics
Essentials
The flights
Emirates and Etihad fly direct from the UAE to Geneva from Dh2,845 return, including taxes. The flight takes 6 hours.
The package
Clinique La Prairie offers a variety of programmes. A six-night Master Detox costs from 14,900 Swiss francs (Dh57,655), including all food, accommodation and a set schedule of medical consultations and spa treatments.
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Greatest Royal Rumble results
John Cena pinned Triple H in a singles match
Cedric Alexander retained the WWE Cruiserweight title against Kalisto
Matt Hardy and Bray Wyatt win the Raw Tag Team titles against Cesaro and Sheamus
Jeff Hardy retained the United States title against Jinder Mahal
Bludgeon Brothers retain the SmackDown Tag Team titles against the Usos
Seth Rollins retains the Intercontinental title against The Miz, Finn Balor and Samoa Joe
AJ Styles remains WWE World Heavyweight champion after he and Shinsuke Nakamura are both counted out
The Undertaker beats Rusev in a casket match
Brock Lesnar retains the WWE Universal title against Roman Reigns in a steel cage match
Braun Strowman won the 50-man Royal Rumble by eliminating Big Cass last
Common OCD symptoms and how they manifest
Checking: the obsession or thoughts focus on some harm coming from things not being as they should, which usually centre around the theme of safety. For example, the obsession is “the building will burn down”, therefore the compulsion is checking that the oven is switched off.
Contamination: the obsession is focused on the presence of germs, dirt or harmful bacteria and how this will impact the person and/or their loved ones. For example, the obsession is “the floor is dirty; me and my family will get sick and die”, the compulsion is repetitive cleaning.
Orderliness: the obsession is a fear of sitting with uncomfortable feelings, or to prevent harm coming to oneself or others. Objectively there appears to be no logical link between the obsession and compulsion. For example,” I won’t feel right if the jars aren’t lined up” or “harm will come to my family if I don’t line up all the jars”, so the compulsion is therefore lining up the jars.
Intrusive thoughts: the intrusive thought is usually highly distressing and repetitive. Common examples may include thoughts of perpetrating violence towards others, harming others, or questions over one’s character or deeds, usually in conflict with the person’s true values. An example would be: “I think I might hurt my family”, which in turn leads to the compulsion of avoiding social gatherings.
Hoarding: the intrusive thought is the overvaluing of objects or possessions, while the compulsion is stashing or hoarding these items and refusing to let them go. For example, “this newspaper may come in useful one day”, therefore, the compulsion is hoarding newspapers instead of discarding them the next day.
Source: Dr Robert Chandler, clinical psychologist at Lighthouse Arabia
