
Dubai, Doha and Abu Dhabi airports redirected millions of passengers between West and Asia, handling 182 million travelers last year — three times Hong Kong's traffic — with Dubai alone recording 95.2 million passengers, establishing a hub-and-spoke model that reshaped global aviation flows.
AI-generated summary
For decades, Gulf superhubs have redirected millions of travelers between West and Asia through their airports, creating a hub-and-spoke model that scaled efficiently.
For decades, the Gulf superhubs of Dubai, Doha and Abu Dhabi performed an improbable trick. They redirected millions of people travelling between the West and Asia to connect through their airports. Last year, the three airports handled about 182 million passengers, three times the traffic at Hong Kong airport. Dubai alone handled 95.2 million, the highest ever recorded by an airport.
The Gulf’s hub-and-spoke model – funnelling passengers through a central airport to multiple destinations – created economies of scale that redesigned global commercial aviation flows through a routing system solid enough to become the new standard of travel between West and East.

IMF President Georgieva said in Singapore that the global economy is driven by both energy supply shocks and artificial intelligence shocks. AI-related trade accounts for more than one-tenth of global goods trade, but investment is concentrated in economies such as the United States, China, and India, exacerbating global inequality. At the same time, rising energy demand has led to high oil prices and public debt close to the highest level since World War II.

U.S. stocks closed lower on Wednesday, with the S&P 500 and Nasdaq ending their consecutive gains, and the Dow Jones Index falling 0.66%. U.S. Treasury bond yields climbed to their highest level since 2002, triggering concerns about inflation and debt. Banks and technology stocks led the decline, with TSMC ADR falling 2.09%.

Goldman Sachs analysts suggest that while China's exports remain strong in the near term, long-term growth is constrained by the absorption capacity of trading partners. Despite record trade surpluses, declining profit margins in sectors like automotive persist.

George Eva, chairman of the International Monetary Fund (IMF), said that the global economy is being affected by three major countercurrents: energy shocks, the rise of AI, and high public debt. The proportion of global public debt to GDP may exceed 100%. Coupled with the high energy prices caused by conflicts in the Middle East, the inflationary pressure and high interest rate environment will continue to test the economic resilience of various countries.

Bangkok is cleaning up after 300mm of rain caused significant flooding and hundreds of millions of dollars in damage. City officials are dredging canals to prepare for additional storms forecasted to arrive this Saturday.

Hang Seng Indexes Company is reforming the Hang Seng Tech Index to boost its relevance, as the index has fallen 23 per cent this year. The changes will focus on selecting emerging companies based on sales growth to better reflect forward-looking market trends.