Uncategorized
DO FISCAL STIMULUS MEASURES SUPPORT THE US MARKET GROWTH, AND IS A DEFAULT POSSIBLE?

Authored by Michael Smirnow, Chief Investment Officer, Arabian Capital Gulf
With the dirham pegged to the US dollar and UAE investors exposed to global markets, decisions made by the Federal Reserve and the US government can influence local borrowing costs, liquidity, and investment sentiment. Michael Smirnow, Chief Investment Officer, Arabian Capital Gulf After the global financial crisis, U.S. authorities tried to stimulate the economy primarily through monetary measures: the Federal Reserve cut interest rates to zero and launched quantitative easing (QE) for the first time, purchasing assets to provide market participants with liquidity.
As a result, the Fed’s balance sheet grew to USD 8 trillion by 2021. However, between 2008 and 2020, the U.S. economy did not experience rapid growth, and inflation regularly remained below the target level. Everything changed in 2020, when the government entered the stimulus fray for the first time in many years. While the Fed’s accommodative monetary policy primarily helped large banks and market participants, at the onset of the pandemic the U.S. government began distributing money to households and increasing budget expenditure across nearly all areas.

Compared with monetary measures, these fiscal stimulus measures proved to be a significantly more powerful tool for stimulating the economy; however, they increased government debt by the aforementioned 61%. Against this backdrop, we expect the next few years to be shaped primarily by fiscal stimulus, with government action, rather than the Federal Reserve, becoming the key factor for investors. Indeed, while the private sector ran large deficits before 2008, the deficit now lies with the government, while private-sector indebtedness is declining. In the years following the pandemic, the largest government deficits coincided with the strongest growth in financial markets. This is unsurprising, since a public-sector deficit becomes private-sector income. This dynamic enabled the U.S. economy to remain resilient in 2023-2024 despite the Fed’s record pace of interest-rate increases. Whichever U.S. political party is in power will continue along this path; Trump is also doing the same through legislation known as the “Big Beautiful Bill.”
As long as inflation in the United States remains under control, this race will continue. The current balance between monetary and fiscal stimulus vividly illustrates this argument. On the one hand, the U.S. Federal Reserve is adopting an increasingly neutral stance and is clearly in no hurry to cut interest rates or introduce new stimulus programmes. On the other hand, the Treasury is entering the fray: as yields on long-term U.S. bonds confidently exceed 5%, the Treasury has launched a program to buy back its long-term debt. In effect, this gives the bond market the same kind of stimulus the Fed previously delivered.
Thus, the balance of power is changing, but the direction remains the same: the United States still needs accommodative monetary conditions. If these are not achieved through monetary measures, they will be achieved through fiscal ones.
(Arabian Gulf Capital (AGC) holds a Category-1 Investment Firm license issued by the Central Bank of Bahrain and provides tailored investment solutions to individual, corporate, and institutional clients.)
Uncategorized
Kenz ‘de’ Rasasi Debuts at Beautyworld Middle East 2026 with a New Expression of Rasasi Heritage
Kenz ‘de’ Rasasi, a new fragrance house born from the rich heritage of Rasasi, made its debut at Beautyworld Middle East 2026, marking a bold new chapter for one of Dubai’s established names in perfumery. Unveiling eight fragrance collections, the house is taking the treasures of Rasasi into new territory, combining decades of fragrance expertise with refined design, craftsmanship and a vision shaped for a new generation of fragrance consumers.

The name Kenz ‘de’ Rasasi translates as “The Treasures of Rasasi,” reflecting the house’s approach to its heritage. Built on Rasasi’s longstanding perfumery expertise, the house revisits selected flagship creations, refining their original compositions and reimagining their presentation for today’s discerning, younger consumers. The approach combines the richness of established fragrance craftsmanship with luxury, offering a new expression of heritage through carefully considered scents, design and storytelling.
Conceptualised and creatively driven by Mr. Anis Abdul Razak, Owner of Rasasi Perfumes and Chairman of AAR Group, Kenz ‘de’ Rasasi draws on decades of perfumery expertise to reinterpret selected creations for a new generation. Guided by the philosophy “Inspired by legacy, built for the future,” the house gives heritage-inspired fragrances a distinctive identity through refined compositions, custom bottle designs and elevated materials, creating a fresh expression of Rasasi’s fragrance heritage.


“Kenz ‘de’ Rasasi brings together the treasures we have built over generations and gives them a new identity. We wanted to preserve the soul of these creations while introducing them to a generation that appreciates authentic quality, individuality and thoughtful design. At its heart, the house is about carrying forward what we have built while embracing what lies ahead: inspired by legacy, built for the future.”
With the global luxury fragrance market valued at approximately USD 16 billion, Kenz ‘de’ Rasasi is positioning its launch around the opportunity to take Rasasi’s fragrance heritage to a wider international audience. By combining the richness of established perfumery with accessible luxury, contemporary design and storytelling, the house aims to connect with younger consumers across global markets while giving familiar Rasasi creations a new relevance.
Commenting on this occasion, Mr. Ismail Anis Abdul Razzak, Deputy Chairman and Co-Founder of AAR Group, said, “The launch is rooted in the story of Dubai and the UAE’s growing influence on the global luxury and fragrance landscape. Rasasi has grown alongside Dubai, understanding the preferences, traditions and aspirations of the markets we come from. Kenz ‘de’ Rasasi allows us to take that heritage forward in a way that speaks to a new generation across international markets. We are bringing the craftsmanship and richness of our heritage into a new expression, ensuring that quality, elegance and individuality remain at its heart. Our ambition is to build a fragrance house that can resonate with our patrons, offering quality and elegance at an accessible level of luxury.”
The official unveiling was further marked by the presence of Bollywood superstar Salman Khan, who joined Mr. Anis Abdul Razak at the Kenz ‘de’ Rasasi booth as Chief Guest. His presence brought an added cultural and emotional dimension to the occasion, connecting the Dubai-born house with audiences across the region and beyond. As a familiar and influential figure across India, the UAE and international markets, Salman’s participation added further significance to a launch centred on taking a regional fragrance legacy to a global audience.
At Beautyworld Middle East, Kenz ‘de’ Rasasi unveiled eight fragrance collections, with custom bottle redesigns, elevated materials and tactile packaging that reinterpret Rasasi’s artistry through a modern lens. The collection includes Beyond Hawas, Hawas Apex, Hawas Desire, La Yuqawam Terrabotanica, Daareej, Shuhra, Rimal, and Tobacco. Every element has been developed to create a complete fragrance experience while maintaining a clear connection to the house’s origins. Inspired by legacy, built for the future, Kenz ‘de’ Rasasi is looking to give the treasures of Rasasi a new place in the world of fragrance.
Uncategorized
RX Coffee Apothecary Offers a Sweet Reward for Early Screening This Pinktober
This Pinktober, RX Coffee Apothecary is adding a little sweetness to an important cause with a simple gesture designed to recognize those taking a proactive step towards their health.

As part of its Pinktober initiative this October, RX is offering a complimentary Strawberry Softie to customers who present proof of breast cancer screening. Available across all RX outlets throughout the month, the gesture is RX’s way of acknowledging and supporting those who have prioritised their health and taken an important proactive step.
Through the initiative, RX aims to raise awareness around the importance of early screening and preventive health, while using an everyday coffee stop as an opportunity to spark meaningful conversations. By engaging its community in a simple and approachable way, RX hopes to reinforce the message that taking the time to get screened can make a meaningful difference.
Adding to its Pinktober offerings, RX has also introduced Pinktober Tart, priced at AED 45. The Pinktober initiative is available throughout October across all RX outlets, including Dubai Mall, Jumeirah, City Centre Mirdif and City Centre Al Zahia. Because sometimes, taking an important step for your health deserves a little something sweet.
Uncategorized
DINE IN PINK FOR A PURPOSE AT GRAZER, MÖVENPICK HOTEL APARTMENTS DOWNTOWN DUBAI THIS OCTOBER

This Pinktober, Grazer at Mövenpick Hotel Apartments Downtown Dubai is turning pink for a purpose with the launch of a limited-edition Pink Menu in support of Al Jalila Foundation.
Available until 31 October 2026, the month-long initiative invites guests to sip, savour and give back, with 25% of sales from the Pink Menu, excluding applicable taxes and fees, donated to Al Jalila Foundation.
Created especially for Pinktober, the menu features a selection of vibrant pink-inspired creations, including three refreshing drinks, three pastries and three savoury dishes. Pink drinks and pastries are priced at AED 30 each, while savoury dishes are available à la carte from AED 55 to AED 75.
Adding another touch of pink to the experience, guests who wear pink while dining at Grazer will receive 10% off their total bill, encouraging diners to show their support while enjoying the specially curated menu with friends and family.
Open daily from 8:00 AM to 11:00 PM, Grazer welcomes families and younger guests to take part in the initiative, with children also able to order from the Pink Menu at the same prices.
Through the Pinktober campaign, Grazer and Mövenpick Hotel Apartments Downtown Dubai aim to turn an everyday dining experience into an opportunity to give back, bringing the community together over good food and a meaningful cause throughout October.
-
Trending12 months agoOPPO A6 Pro 5G Review: Reliable Daily Driver
-
Tech News2 years agoDenodo Bolsters Executive Team by Hiring Christophe Culine as its Chief Revenue Officer
-
VAR1 year agoMicrosoft Launches New Surface Copilot+ PCs for Business
-
Automotive2 years agoAGMC Launches the RIDDARA RD6 High Performance Fully Electric 4×4 Pickup
-
Tech Interviews3 years ago
Navigating the Cybersecurity Landscape in Hybrid Work Environments
-
Tech News1 year agoNothing Launches flagship Nothing Phone (3) and Headphone (1) in theme with the Iconic Museum of the Future in Dubai
-
VAR2 years agoSamsung Galaxy Z Fold6 vs Google Pixel 9 Pro Fold: Clash Of The Folding Phenoms
-
Hospitality2 years agoGulfood 2025 30th Edition Kicks Off Today, Setting New Benchmarks in F&B Growth and Innovation


