Hong Kong and Dubai: Forging a New Silk Road of Finance and Innovation
Hong Kong and Dubai, two dynamic global hubs, share a common foundation built on trade, transformation, and the free flow of capital. This connection echoes the historical Silk Road, where ambitious and resilient merchants connected East and West. Today, this same instinct to connect and grow continues to define both cities.
The synergy between these two financial powerhouses is evident. Hong Kong serves as a crucial gateway to East Asia, while Dubai acts as a global super-connector, bridging Europe, Africa, the Middle East, and India. Both are vibrant cultural mosaics and thriving financial centers, propelled by talent, capital mobility, and world-class infrastructure rather than abundant natural resources. They are both committed to investing in connectivity, innovation, and their people to maintain their competitive edge.
Dubai's strategic approach is yielding significant results. The city has consistently ranked first globally for greenfield foreign direct investment for the past four years, attracting 1,117 projects in 2024 alone, with FDI inflows increasing by 30 percent.
The Dubai International Financial Centre (DIFC) has experienced remarkable growth, with a 38 percent increase in the number of innovation companies in 2024, reaching 1,245 firms and generating thousands of new jobs. This growth firmly establishes DIFC as one of the fastest-growing fintech ecosystems worldwide. Guided by the Dubai Economic Agenda D33, the city aims to double its economy, expand trade, and secure a position among the world's top financial centers.
For Hong Kong's tech founders, family offices, and small and medium-sized enterprises, this collaboration translates into enhanced speed and scale. The United Arab Emirates-Hong Kong double taxation treaty and numerous trade agreements make Dubai an accessible jurisdiction for establishing, operating, and expanding cross-border businesses.
Several Hong Kong firms are already expanding their presence in Dubai. Hex Trust has launched HT Markets MENA, while Kerry Logistics has reduced Asia-Europe lead times by up to 40 percent through its regional hub in Dubai. Firms like Welwing Capital are also actively raising capital from Dubai. These ventures represent long-term strategic commitments rather than mere exploratory tests.
Policy alignment is strengthening the ties between the two cities. A memorandum of understanding between Dubai and Hong Kong's Financial Services and the Treasury Bureau connects regulators, exchanges, and financial institutions across various sectors, including fintech, green finance, and family offices. Agreements with major financial institutions such as HSBC, Standard Chartered, and the Hong Kong Monetary Authority further solidify this partnership.
For family offices, this collaboration presents a compelling twin-city model. Dubai offers unparalleled access to the Middle East, Africa, and South Asia, while Hong Kong provides deep connections to China and East Asia. Together, they provide seamless global coverage supported by regulatory clarity, established investment channels, and comprehensive lifestyle infrastructure.
This partnership transcends mere market access. Dubai and Hong Kong are forging a new chapter in a story that began on the Silk Road, driving global commerce and innovation.
Colombia's National Mourning: A Call for Unity and Justice
The public funeral of Colombian senator Miguel Uribe Turbay has resonated deeply with Colombians worldwide, marking a significant moment of national mourning. Amidst the sorrow, the Colombian people, alongside the President of the Republic, are calling for unity, reconciliation, and justice. A collective demand has emerged for the arrest and prosecution of those responsible for this heinous crime.
President Gustavo Petro Urrego, speaking from Bahía Solano, issued a powerful appeal to the nation, urging Colombians not to fall into the trap of violence. He emphasized that Senator Uribe's murderers, like those responsible for the deaths of so many Colombians over the decades, must not prevail. He warned that hatred in the heart of a Colombian only empowers the murderers, transforming that hatred into another form of killing.
This moment of national significance underscores Colombia's ongoing pursuit of peace and justice, highlighting the nation's determination to overcome violence and build a more unified future.
The Human Cost of Endless Conflict: A Plea for Justice and Compassion
The profound human cost of ongoing conflicts is a growing concern. The experiences of soldiers and civilians alike reveal the deep psychological and moral wounds inflicted by war.
One poignant example is the account of an Israeli soldier's mother, representing a group of soldiers' mothers, who described the "broken" and "finished" state of soldiers deployed to Gaza after two years of trauma, desperately needing time to heal.
This echoes the themes explored in Jonathan Shay's book, Achilles in Vietnam: Combat Trauma and the Undoing of Character, which examines the psychological and moral wounds of war suffered by Vietnam veterans. Shay highlighted the crucial role of time and safety to mourn in ancient warfare, elements that were absent in the Vietnam War.
Furthermore, the immense suffering of Palestinians, particularly the children of Gaza, cannot be ignored. As psychiatrist Samah Jabr has pointed out, there is no "post" in "post-traumatic stress disorder" for the children of Gaza, who live under constant threat and trauma.
The world's leaders should reflect on the paths taken to address global problems. The staggering US defense budget, nearing US$1 trillion, contrasts sharply with cuts in funding for foreign aid. The dominance of US-based companies among the world's top five arms manufacturers raises further questions about priorities.
It is imperative to choose justice and compassion to break cycles of violence, preventing future generations from being lost to war. A shift towards diplomacy, conflict resolution, and humanitarian aid is essential to create a more peaceful and just world.
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