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Why Latin American markets are leading global returns in 2026

Latin American financial assets have emerged among the best-performing markets worldwide at the start of 2026, driven by an unusual alignment of positive political catalysts, strong commodity prices, and renewed global appetite for emerging markets.

Equities and currencies across the region have sharply outpaced developed markets, reversing several years of relative underperformance.

The shift in sentiment has been triggered by a sequence of closely timed developments.

A sustained upswing in commodity prices — particularly industrial and precious metals — has strengthened the outlook for South America’s export-driven economies.

And while the full consequences of the recent US seizure of Venezuela’s Nicolás Maduro have yet to play out, some investors view the ousting as positive. A number hope the move will reduce geopolitical tail risks long associated with the region.

Adding to the momentum, the announcement of the EU–Mercosur trade agreement revived expectations of deeper trade integration between Europe and Latin America, even as doubts remain over its full implementation.

Global macro conditions have also played a decisive role. Major investment banks, including Bank of America and AllianceBernstein, indicate that a weaker US dollar in 2026 is boosting the appeal of emerging market assets.

Historically, periods of dollar weakness have coincided with strong emerging market performance, as capital shifts toward countries where returns are higher.

Countries most exposed to metals markets have been the primary beneficiaries. Chile and Peru — key producers of copper, silver and gold — have enjoyed substantial windfall gains from the metals rally.

Chile, the world’s largest copper exporter, shipped 14.9 million tonnes of the metal in 2024, according to ITC Trade Map data.

Latin America shines among top-performing global markets

Performance data compiled by CountryETFTracker show that five Latin American countries now rank among the world’s ten best-performing equity markets over the past three months.

Chilean stocks are up 36.6% since mid-October, making them the best-performing investable equity market globally via exchange-traded funds. Simultaneously, the Chilean peso has appreciated more than 8% over the past two months, reflecting improved terms of trade and renewed portfolio inflows.

Argentina has been another standout, with a 27.45% rally in equity markets since October. Investors have responded positively to the liberalisation reforms introduced by President Javier Milei, who took office in December 2023.

The International Monetary Fund, in its latest Regional Economic Outlook, credited the Milei administration with enacting “an ambitious package of market-oriented reforms” targeting productivity, regulatory simplification, and fiscal sustainability.

The IMF noted that, if sustained, these reforms could yield substantial medium-term gains by opening Argentina’s economy and improving investor confidence. That’s despite the fact that such austerity forms were particularly unpopular with the general public when first announced, triggering protests in Argentina.

Beyond Chile and Argentina, Peru has posted equity gains of around 27%, with the Peruvian sol now trading at its strongest level relative to the dollar in over five years.

Elsewhere, equities in Colombia rose about 16%, and Brazil has rounded out the regional leaders with a 12.9% rally.

By contrast, the US S&P 500 has gained just 4.8% over the same period, while Germany’s DAX is up around 5%, underscoring Latin America’s marked relative outperformance.

EU–Mercosur agreement signals strategic shift for Latin America

The long-awaited EU–Mercosur trade agreement, more than two decades in the making, is set to be formally signed on 17 January in Paraguay, marking a turning point in relations between Europe and South America.

For the founding members of the Mercosur bloc — Argentina, Brazil, Paraguay and Uruguay — the accord represents their first major trade agreement with an external partner, opening preferential access to a market of nearly 450 million EU consumers.

“The approval of the EU–Mercosur trade agreement is a landmark moment, creating the largest free trade area in the world by population,” Ángel Talavera, head of European macro at Oxford Economics, said in a note.

Combined, the EU and Mercosur economies account for around a quarter of global GDP and roughly 780 million people.

For Latin American markets, experts say the significance goes beyond improved agricultural access to Europe. The agreement is expected to lower tariff and non-tariff barriers on industrial inputs, particularly benefitting manufacturing-heavy economies such as Brazil and Argentina by reducing costs, improving competitiveness and strengthening supply-chain integration.

According to a study by Banco Santander, the deal is poised to transform trade and investment flows across South America. The EU already accounts for close to €370bn in foreign direct investment into Mercosur and over €125bn in annual trade.

Brazil’s Institute for Applied Economic Research expects the deal could lift Brazil’s GDP by around 0.5 percentage points and raise investment by 1.5 percentage points annually, reflecting stronger export prospects and increased foreign direct investment.

Estimates from Real Instituto Elcano and the Bank of Spain suggest EU–Latin America trade could expand by up to 70% over time, while intra-regional trade within Latin America could rise by as much as 40%.

A turning point for Latin America?

Latin America’s recent strong performance in global financial markets seems to reflect more than just cyclical tailwinds.

Rising commodity prices, easing geopolitical risks, and a weaker US dollar have all helped draw global investors back to the region after years of underperformance.

At the same time, reform momentum in countries such as Argentina and renewed trade links with Europe have improved perceptions of policy stability and long-term growth potential.

While challenges remain and many of the economic benefits will take time to materialise, markets are increasingly viewing Latin America as a relative bright spot among emerging economies.

For now, the region’s combination of high returns, improving fundamentals, and strategic relevance in global trade is proving hard for investors to ignore.

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After Maduro: Is the US driving global instability? | Donald Trump

America First foreign policy means that the United States is becoming a country that opposes the rule of law, free trade and collective security, argues Ian Bremmer, president of the risk analysis firm Eurasia Group.

Bremmer tells host Steve Clemons that the international system built by the US over decades “was going to reach a geopolitical bust” regardless of the advent of President Donald Trump.

Washington’s decision to project power in Venezuela, coupled with rhetoric threatening Greenland, “makes the US more unreliable for its allies”, according to Bremmer, “and a much bigger driver of geopolitical risk on the global stage”.

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Pope Leo XIV warns against ‘zeal for war’ amid global tensions

Jan. 9 (UPI) — Pope Leo XIV warned that “war is back in vogue” in his State of the World address Friday to ambassadors who are accredited to the Holy See.

The annual meeting is one of the most significant events in the Vatican’s yearly calendar and helps to define its diplomatic positions for the year, according to Vatican News.

The pope took the moment to reference the United States’ recent capture of Venezuelan President Nicolas Maduro and his wife, Cilia Flores.

“The principle established after the Second World War, which prohibited nations from using force to violate the borders of others, has been completely undermined,” he said.

“I renew my appeal to respect the will of the Venezuelan people, and to safeguard the human and civil rights of all, ensuring the stability and concord,” the pope added.

He called for an “immediate cease-fire” in Ukraine and expressed his support for a two-state solution to bring peace to the Middle East, while giving Palestinians a “future of lasting peace and justice in their own land.”

Pope Leo lamented what he called a decline in multilateralism and global cooperation, leading to peace instead of armed conflict.

“They do not, therefore, wish to have peace, but only the peace that they desire,” he said.

He said such a global mentality led to two world wars during the 20th century, but eventually produced the United Nations, which the pope said is tasked with “safeguarding peace, defending fundamental human rights and promoting sustainable development.”

Among other topics mentioned were a rising risk of nuclear war and the emergence of artificial intelligence.

He urged a renewed effort to control the proliferation of nuclear arms as the New START Treaty is scheduled to expire in February amid efforts by North Korea and Iran to join the ranks of nuclear powers and Russia’s repeated threats to use nuclear arms against Ukraine and others if compelled to do so.

Meanwhile, the emergence of AI “requires appropriate and ethical management” to ensure it is used to better the world and its societies and does not cause harm, Pope Leo said.

He also addressed matters involving migration, human trafficking and crime and cautioned against “undermining the dignity of migrants and refugees.”

Then he addressed the need for greater communication to help people of differing backgrounds to more effectively communicate and establish meaningful connections, rather than remaining divided by language and using it to cause harm instead of doing good in the world.

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U.S. will exit dozens of international organizations as it further retreats from global cooperation

The Trump administration will withdraw from dozens of international organizations, including the U.N.’s population agency and the U.N. treaty that establishes international climate negotiations, as the U.S. further retreats from global cooperation.

President Trump on Wednesday signed an executive order suspending U.S. support for 66 organizations, agencies and commissions following his instructions for his administration to review participation in and funding for all international organizations, including those affiliated with the United Nations, according to a White House statement on social media.

Most of the targets are U.N.-related agencies, commissions and advisory panels that focus on climate, labor and other issues that the Trump administration has categorized as catering to diversity and “woke” initiatives, according to a partial list obtained by The Associated Press.

“The Trump Administration has found these institutions to be redundant in their scope, mismanaged, unnecessary, wasteful, poorly run, captured by the interests of actors advancing their own agendas contrary to our own, or a threat to our nation’s sovereignty, freedoms, and general prosperity,” the State Department said in a statement.

Trump’s decision to withdraw from organizations that foster cooperation among nations to address global challenges comes as his administration has launched military efforts or issued threats that have rattled allies and adversaries alike, including capturing autocratic Venezuelan leader Nicolás Maduro and indicating an intention to take over Greenland.

This is the latest U.S. withdrawal from global agencies

The administration previously suspended support from agencies like the World Health Organization, the U.N. for Palestinian refugees known as UNRWA, the U.N. Human Rights Council and the U.N. cultural agency UNESCO as it has taken a larger, a-la-carte approach to paying its dues to the world body, picking which operations and agencies they believe align with Trump’s agenda and those which no longer serve U.S. interests.

“I think what we’re seeing is the crystallization of the U.S. approach to multilateralism, which is ‘my way or the highway,’” said Daniel Forti, head of U.N. affairs at the International Crisis Group. “It’s a very clear vision of wanting international cooperation on Washington’s own terms.”

It has marked a major shift from how previous administrations — both Republican and Democratic — have dealt with the U.N., and it has forced the world body, already undergoing its own internal reckoning, to respond with a series of staffing and program cuts.

Many independent nongovernmental agencies — some that work with the United Nations — have cited many project closures because of the U.S. administration’s decision last year to slash foreign assistance through the U.S. Agency for International Development, or USAID.

Despite the massive shift, the U.S. officials, including Trump himself, say they have seen the potential of the U.N. and want to instead focus taxpayer money on expanding American influence in many of the standard-setting U.N. initiatives where there is competition with China, like the International Telecommunications Union, the International Maritime Organization and the International Labor Organization.

The global organizations from which the U.S. is departing

The withdrawal from the U.N. Framework Convention on Climate Change, or UNFCCC, is the latest effort by Trump and his allies to distance the U.S. from international organizations focused on climate and addressing climate change.

UNFCC, the 1992 agreement between 198 countries to financially support climate change activities in developing countries, is the underlying treaty for the landmark Paris climate agreement. Trump — who calls climate change a hoax — withdrew from that agreement soon after reclaiming the White House.

Mainstream scientists say climate change is behind increasing instances of deadly and costly extreme weather, including flooding, droughts, wildfires, intense rainfall events and dangerous heat.

The U.S. withdrawal could hinder global efforts to curb greenhouse gases because it “gives other nations the excuse to delay their own actions and commitments,” said Stanford University climate scientist Rob Jackson, who chairs the Global Carbon Project, a group of scientists that tracks countries’ carbon dioxide emissions.

It also will be difficult to achieve meaningful progress on climate change without cooperation from the U.S., one of the world’s largest emitters and economies, experts said.

The U.N.’s population agency, which provides sexual and reproductive health across the world, has long been a lightning rod for Republican opposition and Trump himself cut funding for the agency during his first term in office. He and other GOP officials have accused the agency of participating in “coercive abortion practices” in countries like China.

When President Joe Biden took office in January 2021, he restored funding for the agency. A State Department review conducted the following year found no evidence to support these claims.

Other organizations and agencies that the U.S. will quit include the Carbon Free Energy Compact, the United Nations University, the International Cotton Advisory Committee, the International Tropical Timber Organization, the Partnership for Atlantic Cooperation, the Pan-American Institute for Geography and History, the International Federation of Arts Councils and Culture Agencies and the International Lead and Zinc Study Group.

The State Department said additional reviews are ongoing.

Lee and Amiri write for the Associated Press. Amiri reported from the United Nations. AP writer Tammy Webber reported from Fenton, Mich.

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Editorial: Africa at the Fault Line of a Failing Global Order

Africa is burning, not metaphorically, but in measurable realities of conflict, collapse, and abandonment. Old wars refuse to end, new crises are born faster than diplomacy can name them, and the continent has become the gravitational centre of global disorder. This is not accidental. It is the consequence of a world order that has lost both its moral authority and its will to act reasonably. 

Across Africa, unresolved conflicts metastasise into permanent emergencies. From the eastern Democratic Republic of Congo, where rebellion has become cyclical rather than exceptional, to Nigeria, where life has become short and brutal, even for schoolchildren, to the broader Sahel, where state authority continues to retreat.

West Africa alone has recorded more military coups and counter-coups in recent years than any other region in the world, a stark signal of democratic erosion and widespread disillusionment with governance models that no longer deliver security or dignity.

At the same time, global terrorist organisations once concentrated in the Middle East, such as Al-Qaeda and the so-called Islamic State, have strategically relocated their operational centres to Africa. This shift is not because Africa is inherently prone to extremism, but because prolonged neglect, weak international engagement, and fragmented security cooperation have created fertile ground. Terrorism has followed power vacuums, not cultures.

Climate change compounds these failures. Shrinking water sources, desertification, and unpredictable weather patterns are intensifying violent competition over land and livelihoods in countries like Nigeria. Farmer–herder conflicts, insurgent recruitment, and forced displacement are increasingly linked to environmental stress. Africa, which has contributed the least to global carbon emissions, is paying one of the highest prices for climate inaction.

Meanwhile, the continent’s once-vibrant wildlife and ecological heritage are being depleted at alarming rates, seen as collateral damage of conflict, illegal exploitation, and weak global enforcement. The loss is a planetary failure dressed up as a regional problem.

Yet the world’s response is disturbingly muted.

The traditional self-appointed guardians of international order – the global ombudsmen who once spoke the language of human rights, rule of law, and humanitarian responsibility – are increasingly selective, inconsistent, or complicit in many wars. While African conflicts smoulder with minimal global outrage, these same powers are actively involved in or defending genocide in Gaza. International law, once presented as universal, is now applied with geopolitical discretion.

More troubling still is the open disregard for sovereignty and legal norms by states that brand themselves as “civilised democracies”. From extraterritorial military actions to extraordinary renditions and unilateral interventions, practices once condemned when carried out by authoritarian regimes are now normalised by democratic ones—often without consequence. 

This double standard carries profound implications for Africa. It weakens already fragile states, delegitimises global institutions, and reinforces the perception that African lives and laws matter less in the global calculus. When rules are enforced selectively, power, not justice, becomes the governing principle.

The world today is not merely facing a crisis of conflict; it is facing a crisis of leadership.

What is missing is rational, principled global leadership that upholds the rule of law not only within national borders but across them; leadership that does not excuse violations when committed by allies; leadership that understands Africa not as a theatre of endless emergencies but as a central pillar of global stability. Africa, long treated as the periphery of global concern, may yet prove to be the mirror in which the world’s moral failure is most clearly reflected.

Africa faces a crisis of conflict, with unresolved wars and new emergencies worsening due to a global order lacking moral authority and effective action.

The continent experiences numerous military coups, terrorism relocation, and environmental challenges exacerbating violence and displacement.

Despite Africa’s minimal contribution to global emissions, it bears severe climate consequences and wildlife exploitation is rampant. However, the international community’s response is subdued, with traditional powers displaying selective and inconsistent involvement.

This double standard undermines global institutions and underscores a leadership crisis, highlighting the need for principled global action that respects Africa’s importance to global stability.

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Egypt tops Africa, UAE leads Middle East in 2024 Global Soft Power Index – Middle East Monitor

Egypt has been ranked as the leading African country in global soft power influence for 2024, according to a report by Business Insider Africa. The report, based on the Global Soft Power Index published by Brand Finance, places Egypt 39th worldwide with a soft power score of 44.9 points.

South Africa and Morocco follow Egypt in the continent’s rankings, securing second and third place with scores of 43.7 and 40.6 points, respectively. The index also noted that “Egypt secures the gold for its ‘rich heritage’” while the UAE ranks number one in the Middle East and 10th globally. Globally, the US leads with a record-high score of 78.8 points, an increase from 74.8 in 2023.

The Global Soft Power Index assesses the perceptions of all 193 UN member states, evaluating countries based on eight pillars: business and trade, international relations, education and science, culture and heritage, governance, media and communication, sustainable future, and people and values.

Soft power is defined as a country’s ability to influence others through attraction and persuasion rather than coercion. Countries like Egypt are leveraging diplomacy, culture, and education to enhance their global reputation and build goodwill.

Meanwhile, China which sits on third place on the global index has been expanding its influence in Africa over the past decade and is currently hosting the China-Africa forum, with African leaders keen to explore investment and loan opportunities. China, the world’s number two economy, is Africa’s largest trading partner, with bilateral trade hitting $167.8 billion in the first half of this year.

READ: Egypt’s Al-Azhar condemns Israeli offensive in occupied West Bank

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China bets on province the size of Belgium to reshape global trade

As of December 2025, new laws came into effect making Hainan a separate customs zone and consolidating a favorable regulatory environment in the southernmost province of China.

The move contrasts with the current global trend of protectionism, as many countries move to tighten trade rules and investment controls.

Hainan is now effectively the world’s largest free trade port by area. Encompassing over 35,000 square kilometers, it is roughly fifty times bigger than Singapore and even slightly bigger than Belgium.

China is attempting to offer a solution for the “growing uncertainties in the global economy” and trying to replicate the success of Singapore, with a free trade port the size of a European nation.

According to the state-run Xinhua news agency, the launch of “special customs operations” is not merely a policy tweak but a fundamental restructuring of how the island province interacts with international markets.

The unique framework, instituted by the Chinese Communist Party, could make Hainan the most business-friendly jurisdiction in the world.

This is not the first time the state-led economy, described as a socialist market economy, takes a page from the capitalist playbook to boost its global dominance.

Special economic zones (SEZs) have been successfully implemented in China since the late 1970s, as part of the country’s economic open-door policy. These SEZs allow Beijing to experiment with capitalist mechanisms, in limited areas, while maintaining broader state control over the economy.

In 2020, the CCP unveiled a comprehensive plan to shift Hainan from a mere special economic zone to a strategic hub designed to rival Hong Kong, Singapore and Dubai.

Creating a completely separate trade and investment system for the province was the objective until the end of 2025. Going forward, the party projects that Hainan will reach “institutional maturity” by 2035 and achieve a “strong global influence” by the middle of the century.

First line open, second line controlled

The province comprises Hainan Island and various smaller islands in the South China Sea, and now operates under a “two-line” customs system designed for greater openness while maintaining domestic security.

The first line marks the boundary between Hainan and the global economy, where most trade barriers have been removed. Under the new legislation, the majority of goods can enter the province freely, with a significantly expanded list of zero-tariff imports covering raw materials, equipment and consumer products.

The second line functions as a filter between Hainan and mainland China. There, standard customs rules apply, with goods subject to tariffs and controls intended to protect domestic markets.

However, the system creates a powerful incentive for manufacturers. Goods entering Hainan that achieve at least 30% added value within the province can enter mainland China duty-free, a policy designed to encourage additional production on the islands rather than using it solely as a transit hub.

For example, Australian beef can be imported into Hainan duty-free. Then, if the beef is sliced and packaged for China-destined hotpot products on the island province itself, it can enter mainland Chinese supermarkets with the same exemptions.

China’s strategic gateway

The scope of the CCP’s plans for Hainan extends well beyond customs arrangements.

The province applies a flat corporate tax rate of 15%, lower than those in Hong Kong (16.5%), Singapore (17%) and mainland China (25%).

Hainan is now also operating under a distinct regulatory framework in several other areas, which differs significantly from regulation on the mainland.

For instance, if a pharmaceutical product or medical device is approved by one of many regulatory agencies anywhere in the world, it can be used on the island province despite being banned on the mainland.

Similarly, companies registered in Hainan can apply for broader internet access, allowing them to bypass the so-called “Great Firewall of China”, a system of laws and technologies enforced by the CCP to control online activity nationwide.

Foreign companies can also open special bank accounts in Hainan, with capital flows exempt from mainland foreign-exchange controls, while foreign universities are permitted to establish campuses without a Chinese partner.

Visa-free entry to the province has also been expanded from 59 to 86 countries, now including the United States, Germany and Australia, as well as several countries in the Middle East and South America.

Visitors can stay for up to 30 days without a visa for business, medical treatment or tourism, as the authorities also promote the island province as a major travel destination.

Amid rising tensions in the global economy, Hainan serves as China’s “pressure valve” offering a low-tax, zero-tariff, high-access gateway to Asia-Pacific markets.

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Photos: Global stories of 2025 in pictures | Gaza News

From Israel’s genocide in Gaza and the Russia-Ukraine war to devastating global weather events – including floods, storms and earthquakes – this year was defined by turmoil and humanitarian crises.

Prolonged violence in Sudan, marked by attacks by the Rapid Support Forces (RSF), added to the mounting civilian toll and displacement across the country.

The year also saw heightened tensions between India and Pakistan, a deadly blaze in Hong Kong, United States and Israeli attacks on Iran, revelations from the Epstein files, and waves of “Gen Z” protest movements across multiple regions.

Together, these developments dominated international headlines, reflecting deepening political instability, social unrest and growing humanitarian needs worldwide.

View the gallery below for powerful photographs that documented and encapsulated these pivotal 12 months.

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How Christmas has evolved into a global holiday

Christmas is a Christian holiday that observes the birth of Jesus. But did you know that the earliest followers of Jesus did not annually commemorate his birth? Or that Santa Claus is inspired by the acts of kindness of a fourth-century Christian saint? And have you heard about the modern-day Japanese tradition of eating Kentucky Fried Chicken on Christmas?

Since the early 20th century, Christmas has evolved from a religious holiday to a hugely popular cultural holiday observed by Christian and secular people across the globe who gather with families, exchange gifts and cards and decorate Christmas trees.

Here’s a look at the history, beliefs and the evolution of Christmas:

Origins and early history of Christmas

Early followers of Jesus did not annually commemorate his birth but instead focused on commemorating their belief in his resurrection at Easter.

The story of the birth of Jesus appears only in two of the four Gospels of the New Testament: Matthew and Luke. They provide different details, though both say Jesus was born in Bethlehem.

The exact day, month and even year of Jesus’s birth are unknown, said Christine Shepardson, a professor at the University of Tennessee who studies early Christianity.

The tradition of celebrating Jesus’ birth on Dec. 25, she said, only emerged in the fourth century.

“It’s hard to overemphasize how important the fourth century is for constructing Christianity as we experience it in our world today,” Shepardson said. It was then, under Emperor Constantine, that Christians began the practice of gathering at churches instead of meeting at homes.

Some theories say the date coincides with existing pagan winter solstice festivals, including the Roman celebration of Sol Invictus, or the “Unconquered Sun,” on Dec 25.

While most Christians celebrate Christmas on Dec. 25, some Eastern Orthodox traditions celebrate the holy day on Jan. 7. That’s because they follow the ancient Julian calendar, which runs 13 days behind the Gregorian calendar, used by Catholic and Protestant churches as well as by much of the secular world.

Rowdy medieval celebrations

For centuries, especially during the Middle Ages, Christmas was associated with rowdy street celebrations of feasting and drinking, and for many Christians, it “was not in good standing as a holiday,” said Thomas Ruys Smith, a professor of American literature and culture at the University of East Anglia in England.

“Puritans,” he said, “were not fond of Christmas.”

But in the 19th century, he said, Christmas became “respectable” with “the domestic celebration that we understand today — one centered around the home, the family, children, gift-giving.”

The roots of modern-day Christmas can be traced back to Germany. In the late 19th century, there are accounts of Christmas trees and gift-giving that, according to Smith, later spread to Britain and America, helping to revitalize Christmas on both sides of the Atlantic.

Christmas became further popularized with the publication of “A Christmas Carol” by Charles Dickens in 1843, and the writings of Washington Irving, who was a fan of St. Nicholas and helped popularize the celebration of Christmas in America.

The first Rockefeller Center Christmas tree was put up by workers in 1931 to raise spirits during the Great Depression. The tradition stuck as the first tree-lighting ceremony was held in 1933 and remains one of New York City’s most popular holiday attractions.

America’s secular Santa is inspired by a Christian saint

St. Nicholas was a fourth-century Christian bishop from the Mediterranean port city of Myra (in modern-day Turkey). His acts of generosity inspired the secular Santa Claus legend.

The legends surrounding jolly old St. Nicholas — celebrated annually on Dec. 6 — go way beyond delivering candy and toys to children. He is believed to have interceded on behalf of wrongly condemned prisoners and miraculously saved sailors from storms.

Devotion to St. Nicholas spread during the Middle Ages across Europe and he became a favorite subject for medieval artists and liturgical plays. He is the patron saint of sailors and children, as well as of Greece, Russia and New York.

Devotion to St. Nicholas seems to have faded after the 16th century Protestant Reformation, except in the Netherlands, where his legend remained as Sinterklaas. In the 17th century, Dutch Protestants who settled in New York brought the Sinterklaas tradition with them.

Eventually, St. Nicholas morphed into the secular Santa Claus.

It’s not just Santa who delivers the gifts

In the U.K., it’s Father Christmas; in Greece and Cyprus, St. Basil (who arrives on New Year’s Eve). In some parts of Italy, it’s St. Lucy (earlier in December) and in other Italian regions, Befana, a witch-like figure, who brings presents on the Epiphany on Jan. 6.

Instead of a friendly Santa Claus, children in Iceland enjoy favors from 13 mischievous troll brothers, called the Yule Lads. They come down from their mountain cave 13 days before Christmas, according to folklore.

Christian traditions of Christmas

One of the oldest traditions around Christmas is bringing greenery — holly, ivy or evergreen trees — into homes. But determining whether it’s a Christian tradition is harder. “For many people, the evergreen can symbolize Christ’s promise of eternal life and his return from death,” Smith said. “So, you can interpret that evergreen tradition within the Christian concept.”

The decorating of evergreen trees is a German custom that began in the 16th century, said Maria Kennedy, a professor at Rutgers University—New Brunswick’s  Department of American Studies. It was later popularized in England and America.

“Mistletoe, an evergreen shrub, was used in celebrations dating back to the ancient Druids — Celtic religious leaders — some 2,000 years ago,” Kennedy writes in The Surprising History of Christmas Traditions.

“Mistletoe represented immortality because it continued to grow in the darkest time of the year and bore white berries when everything else had died.”

Other traditions include Christmas services and Nativity scenes at homes and churches. More recently, Nativity scenes — when erected on public property in the U.S. — have triggered legal battles over the question of the separation of church and state.

Christmas caroling, Kennedy writes, can also be traced back to European traditions, where people would go from home to home during the darkest time of the year to renew relationships within their communities and give wishes for good luck, health and wealth for the forthcoming year.

“They would recite poetry, sing and sometimes perform a skit. The idea was that these acts would bring about good fortune to influence a future harvest,” Kennedy writes.

Kentucky Fried Chicken for Christmas in Japan

Among the many Christmas traditions that have been adopted and localized globally, there’s one that involves KFC.

In 1974, KFC launched a Christmas campaign where they began to sell fried chicken with a bottle of wine so it could be used for a Christmas party.

KFC says the idea for the campaign came from an employee who overheard a foreign customer at one of its Tokyo restaurants saying that since he couldn’t get turkey in Japan, he’d have to celebrate Christmas with Kentucky Fried Chicken.

“That really stuck,” Smith said. “And still today, you have to order your KFC months in advance to make sure that you’re going to get it at Christmas Day.”

Henao writes for the Associated Press.

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What’s next for the global economy in 2026? | Business and Economy

2025 was the year of tariffs and a global shift in economic power.

Two words that largely define the economy right now: Global reordering.

President Donald Trump’s Tariffs have landed as a shock to global trade. This is 2025.

Major economies are rewriting their playbooks, and alliances are being redrawn.

From Africa’s minerals boom to the global AI race, countries are scrambling for influence – even as debt piles up.

They are spending more, borrowing more and making tough choices from defence to climate policy and labour shortages.

And through it all, people are bearing high costs.

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How did a middle-aged British man in a bathrobe become a global DJ sensation?

A different type of British invasion had EDM fans in a trance at the Queen Mary in Long Beach.

Armed with turntables, social media-star-turned-professional-party-starter Fish56Octagon made his U.S. festival debut Nov. 21 and 22 at Insomniac’s Dreamstate SoCal, where he performed alongside some of the world’s most preeminent electronic artists, including Tiësto, Paul Oakenfold, Gareth Emery, Ferry Corsten and Chicane.

Fish, as he’s called, is a 46-year-old from the London suburbs who joined TikTok on a drunken whim after being introduced to the app by friends in 2021. Now boasting over a million followers across platforms, he’s seen his life flip because of that choice — quitting a full-time marketing career to become a DJ, produce music and play sets at some of the world’s biggest music festivals in the four years since he uploaded his first video.

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Though his initial post was about his watch collection, the self-described “petrol head” quickly went deep into creating content about cars and made a successful side hustle within a couple years. Crossover between auto enthusiasts and the music lovers in his audience meant the dance songs he used to soundtrack his car videos and sporadic vinyl-haul unboxings spawned passionate discussion in the comments about the classic rave songs Fish was sharing with the world.

He also benefited from an accidental, scroll-stopping visual hook repeated across videos born from his employer asking him to ensure it didn’t look like he was posting during business hours: middle-aged, thin and bald, dropping dad moves in front of his sprawling Technics decks and pumping his fists to the beat between bites of Weetabix biscuits, all while wearing a red and black dressing gown (what Americans would call a robe), gifted to Fish’s wife by his mother.

Screen shot of Fish DJing on TikTok in his bathrobe

Screen shot of Fish DJing on TikTok in his bathrobe

(TikTok)

“That gown is elegant,” wrote a fan in the comments.

“It was legit my mum’s but she found it too hot,” Fish responded.

“You the same build as your mum” another person wrote back, punctuating the comment with a sweating smiley face emoji.

Fish also began to livestream on TikTok late into the night, playing his own mixes for the first time in 20 years.

“I remember seeing people commenting on the Live going, ‘Mate, we were watching you before we went out. We’ve just gone on a whole night out in our city, come back and you’re still here playing,’” Fish said. “I just love it. Sharing and being able to get out those obscure records. Sometimes it’s the big anthems everyone knows and sometimes it’s a tune that was an anthem to me.”

He’s had a decades-long education in electronic music. Fish was introduced to the genre on the cusp of his teen years through an episode of the British detective show “Inspector Morse.” One episode took place in the illegal rave scene and he thought it looked like fun to party in an old warehouse.

Fish’s taste quickly developed by listening to pirate radio and vinyl. He pieced together his first setup with two hi-fi record players his dad had in the attic. Only one had pitch control. He learned to beatmatch by plugging a player into each side of his amplifier and using the balance knob to fade between them. He was given Soundlab DLP-1 belt-driven turntables for his birthday and his obsession accelerated over the next several years.

Fish56Octagon performing at the Dreamstate music festival in Long Beach.

Fish56Octagon performing at the Dreamstate music festival in Long Beach.

(Niyaz Pirani)

“By then I was just spending every penny that I had on vinyl building my record collection up. It was all rave music, early old school, hardcore jungle, and then happy hardcore, drum and bass around that sort of time, early to mid-’90s,” he said. “I played quite a few house parties.”

He became a de-facto resident DJ in college, spinning vinyl in the student union, and dabbled in music production at the same time. He eventually sold his analog kit and synthesizers when he switched to Ableton. He downsized his record collection as he converted them to MP3s.

The demands of his post-college marketing career meant the DJ dream disappeared for many years. That was until his TikTok Live sets gave him a second chance as club promoters reached out in the hope of booking him. Fish admits a lack of confidence caused him to stay on the sidelines. It was an offer in February 2024 to play a solo show at Hidden in Manchester — about the same time he switched his channel over entirely to music — that got him out of his house and onto a stage.

“Even if I wasn’t sure that people would come, I knew that anyone that did come would be coming to see me,” he said. “ … I ended up putting a night on where I played for five hours straight, just me from the start to the end. When the tickets went on sale, it sold out a good couple of months before the event.”

Fish wondered if it was a one-off event or the beginning of a life-changing run. Then the offers came in from other big U.K. cities — FishTales in Newcastle; acid techno at Beaverworks in Leeds; raves in Liverpool and Birmingham. He hired an agent. Dropped some merch.

“Not sure how this happened! But I’m here for it and hope you are too,” he wrote online.

A 20-date summer tour featured three different sets at the famed Glastonbury Festival, and appearances at Reading and Creamfields. He also traveled to Ireland, Scotland and Malta, marking his first time playing professionally outside of England.

He quit his day job in August 2024 to DJ and focus on music production full time with the support of his wife, children and parents.

“They support me even though it comes at a cost that I can’t always spend as much time with them, but they understand that I’m following my dream, following my passion, and doing something positive,” he said.

He’s gained an appreciation as a historian of the genre. Fish’s followers have grown to include Skrillex, David Guetta, Disclosure, Bicep and more of the artists he has admired and now counts among his peers.

“For about the first year, I often would wake up in the morning — I’m gonna get a little bit emotional just talking about this — but I’d wake up in the morning and just think, ‘Wow, that was all a dream, wasn’t it?” he said. “Then I look at my phone. I can see that actually it was real.”

Fish attributes his success to social media, though he said it’s a mistake to think just having social media followers guarantees bookings and the upward trajectory of one’s career.

“They’re actually a function of each other. It’s because I was making content that proved to be popular about music that I managed to build up a following and have those opportunities come my way,” he said. “I’ve now played, getting on for, 200 professional gigs at various clubs, festivals, events, raves, all around the world.”

Fish waited until November 2025 to make his first trek to North America with an 11-date run featuring his first U.S. festival booking. He chose Dreamstate because he’s always had a special place in his heart for trance and the emotional connection people have with the music.

“I love all dance music, but trance is the one that can kind of tug at your heartstrings a bit with those melodies, and the chord progression, and the way that the beats can be so crisp when they come in, and the way the bass hits,” he said.

Fish performed Friday night on “The Vision.” It’s the same stage played by legends Chicane and Paul Oakenfold this year and Darude last. He also co-headlined an hour-long B2B with Night 1 Dreamstate headliner Gareth Emery early Sunday morning, as the top-billed act for the festival’s afterparty in the Grand Salon of the iconic Queen Mary.

He made his way to LAX after stepping off stage at 3 a.m. to fly to New York and play the last three hours of a 24-hour rave.

Two men taking a selfie

Chicane and Fish56Octagon run into each other in the lobby of the Long Beach Hilton after playing the same stage Night 1 of Dreamstate.

(Niyaz Pirani)

Fish has tour dates in New Zealand and Australia toward the end of the year, plus the largest show of his career March 28 at London’s O2 Academy Brixton. He’s also releasing music for himself and others under his record label Octagon Discs.

As his audience multiplies, Fish’s earliest followers remain enthralled by his seemingly infinite rise.

“How did the dude who recommends second-hand cars get to this. So happy for you dude,” one fan wrote in the comments of his Dreamstate recap video post.

“Music was my number 1 passion but i thought I was too old. Thanks for the support bro,” Fish replied.

“Amazing,” another chimed in. “But I would not recognize u in the wild without the bathrobe.”

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Can India catch up with the US, Taiwan and China in the global chip race? | Technology News

In October, a small electronics manufacturer in the western Indian state of Gujarat shipped its first batch of chip modules to a client in California.

Kaynes Semicon, together with Japanese and Malaysian technology partners, assembled the chips in a new factory funded with incentives under Indian Prime Minister Narendra Modi’s $10bn semiconductor push announced in 2021.

Modi has been trying to position India as an additional manufacturing hub for global companies that may be looking to expand their production beyond China, with limited success.

One sign of that is India’s first commercial foundry for mature chips that is currently under construction, also in Gujarat. The $11bn project is supported by technology transfer from a Taiwanese chipmaker and has onboarded the United States chip giant Intel as a potential customer.

With companies the world over hungering for chips, India’s entry into that business could boost its role in global supply chains. But experts caution that India still has a long way to go in attracting more foreign investment and catching up in cutting-edge technology.

Unprecedented momentum

Semiconductor chips are designed, fabricated in foundries, and then assembled and packaged for commercial use. The US leads in chip design, Taiwan in fabrication, and China, increasingly, in packaging.

The upcoming foundry in Gujarat is a collaboration between India’s Tata Group, one of the largest conglomerates in the country, and Taiwan’s Powerchip Semiconductor Manufacturing Corporation (PSMC), which is assisting with the plant’s construction and technology transfer.

On December 8, Tata Electronics also signed an agreement with Intel to explore the manufacturing and packaging of its products in Tata’s upcoming facilities, including the foundry. The partnership will address the growing domestic demand.

Last year, Tata was approved for a 50 percent subsidy from the Modi government for the foundry, along with additional state-level incentives, and could come online as early as December 2026.

Even if delayed, the project marks a pivotal moment for India, which has seen multiple attempts to build a commercial fab stall in the past.

The foundry will focus on fabricating chips ranging from 28 nanometres (nm) to 110nm, typically referred to as mature chips because they are comparatively easier to produce than smaller 7nm or 3nm chips.

Mature chips are used in most consumer and power electronics, while the smaller chips are in high demand for AI data centres and high-performance computing. Globally, the technology for mature chips is more widely available and distributed. Taiwan leads production of these chips, with China fast catching up, though Taiwan’s TSMC dominates production for cutting-edge nodes below 7nm.

“India has long been strong in chip design, but the challenge has been converting that strength into semiconductor manufacturing,” said Stephen Ezell, vice president for global innovation policy at the Washington, DC-based Information Technology and Innovation Foundation (ITIF).

“In the past two to three years, there’s been more progress on that front than in the previous decade – driven by stronger political will at both the central and state levels, and a more coordinated push from the private sector to commit to these investments,” Ezell told Al Jazeera.

Easy entry point

More than half of the Modi government’s $10bn in semiconductor incentives is earmarked for the Tata-PSMC venture, with the remainder supporting nine other projects focused mainly on the assembly, testing and packaging (ATP) stage of the supply chain.

These are India’s first such projects – one by Idaho-based Micron Technology, also in Gujarat, and another by the Tata Group in the northeastern Assam state. Both will use in-house technologies and have drawn investments of $2.7bn and $3.3bn, respectively.

The remaining projects are smaller, with cumulative investments of about $2bn, and are backed by technology partners such as Taiwan’s Foxconn, Japan’s Renesas Electronics, and Thailand’s Stars Microelectronics.

“ATP units offer a lower path of resistance compared to a large foundry, requiring smaller investments – typically between $50m and $1bn. They also carry less risk, and the necessary technology know-how is widely available globally,” Ashok Chandak, president of the India Electronics and Semiconductor Association (IESA), told Al Jazeera.

Still, most of the projects are behind schedule.

Micron’s facility, approved for incentives in June 2023, was initially expected to begin production by late 2024. However, the company noted in its fiscal 2025 report that the Gujarat facility will “address demand in the latter half of this decade”.

Approved in February 2024, the Tata facility was initially slated to be operational by mid-2025, but the timeline has now been pushed to April 2026.

When asked for reasons behind the delays, both Micron and Tata declined to comment.

One exception is a smaller ATP unit by Kaynes Semicon, which in October exported a consignment of sample chip modules to an anchor client in California – a first for India.

Another project by CG Semi, part of India’s Murugappa Group, is in trial runs, with commercial production expected in the coming months.

The semiconductor projects under the Tata Group and the Murugappa Group have drawn public scrutiny after Indian online news outlet Scroll.in reported that both companies made massive political donations after they were picked for the projects.

As per Scroll.in, the Tata Group donated 7.5 billion rupees ($91m) and 1.25 billion rupees ($15m), respectively, to Modi’s Bharatiya Janata Party (BJP) just weeks after securing government subsidies in February 2024 and ahead of national elections. Neither group had made such large donations to the party before. Such donations are not prohibited by law. Both the Tata Group and the Murugappa Group declined to comment to Al Jazeera regarding the reports.

Meeting domestic demand a key priority

The upcoming projects in India – both the foundry and the ATP units – will primarily focus on legacy, or mature, chips sized between 28nm and 110nm. While these chips are not at the cutting-edge of semiconductor technology, they account for the bulk of global demand, with applications across cars, industrial equipment and consumer electronics.

China dominates the ATP segment globally with a 30 percent share and accounted for 42 percent of semiconductor equipment spending in 2024, according to DBS Group Research.

India has long positioned itself as a “China Plus One” destination amid global supply chain diversification, with some progress evident in Apple’s expansion of its manufacturing base in the country. The company assembles all its latest iPhone models in India, in partnership with Foxconn and Tata Electronics, and has emerged as a key supplier to the US market this year following tariff-related uncertainties over Chinese shipments.

Its push in the ATP segment, however, is driven largely by the need to meet the growing domestic demand for chips, anticipated to surge from $50bn today to $100bn by 2030.

“Globally, too, the market will expand from around $650bn to $1 trillion. So, we’re not looking at shifting manufacturing from China to elsewhere. We’re looking at capturing the incremental demand emerging both in India and abroad,” Chandak said.

India’s import of chips – both integrated circuits and microassemblies – has jumped in recent years, rising 36 percent in 2024 to nearly $24bn from the previous year. An integrated circuit (IC) is a chip serving logic, memory or processing functions, whereas a microassembly is a broader package of multiple chips performing combined functions.

The momentum has continued this year, with imports up 20 percent year-on-year, accounting for about 3 percent of India’s total import bill, according to official trade data. China remains the leading supplier with a 30 percent share, followed by Hong Kong (19 percent), South Korea (11 percent), Taiwan (10 percent), and Singapore (10 percent).

“Even if it’s a 28 nm chip, from a trade balance perspective, India would rather produce and package it domestically than import it,” Ezell of ITIF said, adding that domestic capability would enhance the competitiveness of chip-dependent industries.

Better incentives needed

The Modi government’s support for the chip sector, while unprecedented for India, is still dwarfed by the $48bn committed by China and the $53bn provisioned under the US’s CHIPS Act.

To achieve scale in the ATP segment for meaningful import substitution – and to advance towards producing chips smaller than 28nm – India will need continued government support, and there is a second round of incentives already in the works.

“The reality is, if India wants to compete at the leading edge of semiconductors, it will need to attract a foreign partner – American or Asian – since only a handful of companies globally operate at that level. It’s highly unlikely that a domestic firm will be competitive at 7nm or 3nm anytime soon,” Ezell said.

According to him, India needs to continue focusing on improving its overall business environment – from ensuring reliable power and infrastructure to streamlining regulations, customs and tariff policies.

India’s engineers make up about a fifth of the global chip design workforce, but rising competition from China and Malaysia to attract multinational design firms could erode that edge.

In its latest incentive round, the Indian government limited benefits to domestic firms to promote local intellectual property – a move that, according to Alpa Sood, legal director at the India operations of California-based Marvell Technology, risks driving multinational design work elsewhere.

“India already has a thriving chip design ecosystem strengthened by early-stage incentives from the government. What we need, to further accelerate and build stronger R&D muscle – is incentives that mirror competing countries like China [220 percent tax incentives] and Malaysia [200 percent tax incentives]. This will ensure we don’t lose the advantage we’ve built over the years,” Sood told Al Jazeera.

Marvell’s India operations are its largest outside the US.

The Trump effect

India’s upcoming chip facilities, while aimed at meeting domestic demand, will also export to clients in the US, Japan, and Taiwan. Though US President Donald Trump has threatened 100 percent tariffs on semiconductors made outside the US, none have yet been imposed.

A bigger concern for India-US engagement – so far limited to education and training – is Washington’s 50 percent tariff on India over its Russian crude imports. Semiconductors remain exempt, but the broader trade climate has turned uncertain.

“Over half the global semiconductor market is controlled by US-headquartered firms, making engagement with them crucial,” Chandak said. “Any alignment with these firms, either through joint ventures or technology partnerships – is a preferred option.”

The global chip race is accelerating, and India’s policies will need to keep pace to become a serious player amid growing geo-economic fragmentation.

“These new 1.7nm fabs are so advanced they even factor in the moon’s gravitational pull – it’s literally a moonshot,” Ezell said. “Semiconductor manufacturing is the most complex engineering task humanity undertakes – and the policymaking behind it must be just as precise.”

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Exploring Technology, Mind, and Health with Global Academy

The Technology Mind Health half-day summit, hosted by the Global Academy for Future Governance (GAFG) and its partners, brought together interdisciplinary leaders, researchers, and thinkers to explore the intersection of digital technologies and human psychological well-being. Reflecting the Academy’s foundational mission to enhance the development of governments, businesses, academia, civil society, and consumers through ethical and human-centered deployment of technology, the event underscored that technological progress, when governed thoughtfully, can strengthen individual and collective mental health rather than undermine it.

What made this event truly unparalleled on a global scale was its extraordinary diversity, uniting every geography and every generation under the Global Academy’s platform. No other gathering brings together both the developing and the developed world in such a format—not only in its audience but also among its speakers.

The summit indeed offered a genuinely equal platform across continents and age groups: from seasoned experts and leading professionals to the youngest participant, just 11 years old. All stood side by side, engaged in a shared mission to confront one of the most urgent issues of our time, the relationship between technology, mind, and health, and to collectively explore the challenges and chart future pathways.

Or, as the Development-8 Secretary-General, Isiaka A. Imam, urged previously, the emerging digital world must be co-written by all nations, not inherited by a few. These are words that were further detailed by Charles Oppenheimer, who warned that AI is a new primordial fire, powerful enough to uplift humanity or to undo it. 

Mission and Framing

Founded to advance the ‘3M’ matrix (maximum good for maximum species over maximum time), mindful, measurable, and mutually beneficial technological integration across sectors, the Global Academy for Future Governance promotes sustainable progress free of hidden social, environmental, and health costs. Its interdisciplinary, multispatial, cross-sector mandate aligns with pressing global needs to distinguish substantive technological challenges from hype and to strengthen frameworks that enable early identification and mitigation of risks.

The Technology Mind Health summit of early December 2025 opened with a warm introduction delivered by Dr. Philippe Reinisch, GAFG co‑founder. He highlighted this gathering as the inaugural event for the newly created GAFG and emphasized the importance of bridging technology and society with human enhancement, including human mental wellness.

Acting as the GAFG host, Jesinta Adams, Assistant Director-General of GAFG, spoke passionately about the central role different generations play at the intersection of technology and mind health. 

Voices from Leadership and Thought

The event began with a prerecorded (unauthorized) address by Dr. Khaled El‑Enany Ezz, a candidate for UNESCO Secretary‑General. This powerful note reflected on humanity’s current crossroads amid rapid technological change, underscoring rising challenges related to health, wealth inequality, and psychological well‑being. He emphasized education as the essential tool for guiding technological deployment with wisdom, extending beyond technical mastery into cultural and ethical literacy. His message was clear: “Use technology as a tool rather than a master.”

Following this, Vladimir Norov, former Foreign Minister of Uzbekistan and former Secretary‑General of the Shanghai Cooperation Organisation, addressed the Summit. He drew attention to expanding societal risks, including threats to mental health, social cohesion, privacy, and equitable access, but urged attendees to consider the transformative potential of AI when governed ethically. Highlighting examples from medical innovation in Central Asia, Norov stressed three core principles for beneficial technological integration: human‑centered design, ethical governance, and resilience building. He concluded, “Technology does not replace us but elevates us.” 

Expert Contributions on Mind, Health, and Technology

Closing on the high level, the keynote addresses and the substantive section as the central part of the Summit have started with Dr. KaT Zarychta, a specialist in technology, innovation, and holistic health. She opened by comparing artificial intelligence to the human mind, reminding audiences that AI cannot feel, empathize, or emotionally self‑correct. She argued that the most effective path forward lies in human‑AI collaboration, where evidence‑based digital tools support rather than supplant human capacities. Dr. Zarychta closed with a call to co‑create a world where psychological well‑being is nurtured and protected in tandem with technological innovation.

As the next speaker, Marisa Peer, RTT founder and bestselling author, focused on the role of social media as a source of disconnection and psychological distress. She highlighted the platforms’ addictive dynamics and their proliferation of unrealistic ideals that fuel dissatisfaction and self‑doubt. She urged reimagining digital spaces as tools for learning, growth, and mental enrichment—enabling technology to expand, not contract, human potential.

Prof. John A. Naslund, co‑director of the Mental Health for All Lab at Harvard Medical School, addressed the global mental health crisis, particularly rising depression rates. He introduced the EMPOWER Model, a psychosocial behavioral intervention framework emphasizing community‑based support and scalable delivery. Naslund highlighted the model’s adaptability, from teenagers to adults, and its multilingual expansion, demonstrating how evidence‑driven designs can strengthen resilience across populations.

Dr. Malek Bajbouj, Head of Psychiatry and Psychotherapy at Charité Berlin, examined psychological health in contexts of conflict, pandemics, and ecological anxiety. He described the accelerating demand for mental health support and positioned trustworthy digital tools as essential if governed ethically. According to Dr. Bajbouj, resilient mental health systems rest on population‑wide strategies, transparent communication, and sustained trust in public institutions.

From Uruguay, Professor María Castelló of the Clemente Estable Research Institute investigated neurological and psychological effects of prolonged technology use, especially in youth. She highlighted concerns about brain development, anxiety, depression, and unhealthy digital habits. Yet Castelló also acknowledged potential cognitive benefits, such as enhanced memory, behavioral functioning, and multitasking skills. Her call to action called for policies that address digital inequities and mental health from a neuro‑social perspective rather than one‑size‑fits‑all approaches. 

In her part, Prof. Birgitta Dresp-Langley identified excessive childhood exposure to digital environments as a central factor underlying a range of growing health concerns. Prolonged screen time indoors reduces children’s exposure to natural daylight, which is essential for healthy visual development, sleep regulation, and metabolic balance. This deficit is linked to increasing rates of early myopia, obesity, sleep disorders, depression, and behavioral difficulties, with risks emerging even in very young children.

French professor Dresp-Langley proposes a unifying biological model in which reduced daylight and increased artificial light disrupt vitamin D and melatonin production, leading to deregulation of serotonin and dopamine pathways in the developing brain. These neurochemical changes resemble those seen in addictive disorders and may result in long-term cognitive, emotional, and behavioral consequences. She concluded her detailed writing contribution to the Summit by concluding that urgent awareness, preventive policies, and increased outdoor activity are needed to mitigate these risks.

Youth Engagement and Future Directions

The event culminated with the announcement of winners from the Technology Mind Health Essay Competition, led by Theodora Vounidi (Balkan Youth Initiative founder). Contestants (aged 14-18 and 18-28) discussed the correlation between digital technology and mental health and the need for balance between analog and digital time, as well as the newly formed ‘always online’ (sub-)culture.

With 40 global submissions comprising about 60 writers, as some elected to work in teams, including from the youngest entrant at age 11 (demoiselle Tess), the competition highlighted both the breadth of youth engagement and the global relevance of the human technology dialogue.

First place was awarded to Nikos Galitsis from Greece, second place to Claudio Monani from Italy, and third place was awarded to Kenedy Agustin from the Philippines, while fourth place was secured by a participant from India. Fifth place was awarded to the youngest entrant from Singapore. The top three winners of the competition were given the opportunity to present their work, offering insightful perspectives on the emerging intersection of technology and mental health. 

Main takeaways & future outlook

The Technology Mind Health summit highlighted a crucial truth—as encapsulated in the closing remarks by Prof. Anis H. Bajrektarevic, GAFG cofounder, “technological advancement is inevitable, but its impact on humanity is not predetermined—it depends on the collective choices we make.”

Across sessions, speakers emphasized that technology can either be a catalyst for psychological well-being or a source of disruption, depending on how it is designed, governed, and integrated into society. Ethical frameworks, evidence-based policies, and human-centered governance are essential to ensure that digital tools empower rather than diminish individual and collective mental health.

Equally important is the role of education, intergenerational dialogue, and global collaboration. As the GAFG summit demonstrated, solutions require insights from every sector, culture, and age group—from seasoned professionals to the youngest participants. By fostering awareness of risks such as digital overexposure, social media-induced stress, and inequitable access, while simultaneously encouraging innovative approaches for mental wellness, society can navigate the technological landscape thoughtfully.

Ultimately, the responsibility to shape a future where technology enhances rather than undermines human flourishing lies with all stakeholders—governments, academia, civil society, businesses, and individuals alike.

By successfully conducting such a complex and content-rich event, the GAFG demonstrated its true capability to provide flexible, impartial, and highly engaging solutions for the FAST technology to both the public and private sectors.

In recognition of the summit’s success and the youth essay competition’s impact, the Global Academy for Future Governance (GAFG) has decided to annualize both the Technology-Mind-Health Summit and the essay competition (with its BYI partner), ensuring ongoing dialogue and engagement at the intersection of technology, meridians, generations, and mental well-being.

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Mirae Asset Securities: Embedding Innovation at the Core of Global Private Banking

As Korea’s largest securities firm, managing USD 393.6 billion in client assets as of Q2 2025, Mirae Asset Securities has established itself as a global institution known for sophisticated investment capabilities and consistently high-quality service. Size is not its only strength; the company sees innovation as a strategic imperative—and is pursuing both organic and inorganic pathways to build a financial ecosystem that anticipates the future.

AI as the Engine of Organic Transformation

Artificial intelligence sits at the heart of Mirae Asset Securities’ transformation efforts. The firm has recruited global top-tier technology talent, overhauled its organisational culture, and embedded AI applications directly into frontline wealth-management operations.

These investments are yielding results. Clients can now access real-time global market information with automatic translation, improving the quality and speed of decision-making. Data shows that investors who use the firm’s AI-driven tools exhibit a 15% higher rate of active investment decisions than those who do not.

Two flagship systems, the Mirae Asset AI Wealth Assistant and the PB Desk Assistant, deliver personalised recommendations, alerts, and investment insights. AI systems have studied roughly 400 internal work manuals, enabling instant guidance on procedures and documentation. For private bankers, the impact is substantial: average preparation time for consultations has dropped to one-quarter of the previous level, directly enhancing the quality of client engagement.

To sustain this momentum, the company launched an AI Digital Finance Expert Program with KAIST(Korea Advanced Institute of Science Technology) and offers a suite of internal training programmes, including online learning through Udemy for all wealth-management and private banking employees. The goal is clear: build a workforce capable of leading, not just responding to, industry change.

Acquisitions Fuel the Next Wave of Innovation

Mirae Asset Securities’ commitment to innovation also extends beyond Korea’s borders through targeted acquisitions and strategic investments. Recent deals by affiliate Mirae Asset Global Investments include the acquisition of Stockspot, an Australian robo-advisor, and the creation of Wealth Spot, an AI-driven asset-management company in New York. These ventures strengthen the firm’s own AI investment models, supporting internally managed robo-advisory assets that now total approximately USD 2.6 billion.

The firm is also collaborating closely with Global X— Mirae Asset Global Investments’s U.S. ETF subsidiary—on AI-enhanced market strategies and expansion into Asia’s fast-growing technology markets, including China Core ETFs.

In a major push into emerging markets, Mirae Asset Securities recently acquired 100% of India’s Sharekhan. Today, roughly 60% of its employees and nearly half its clients are based overseas, reinforcing its position as a global private bank with almost USD 400 billion in client assets.

Shaping the Future Through Digital Assets

Alongside AI, digital assets represent the next major pillar of innovation. Mirae Asset Securities was the first Korean securities company to complete Phase 1 of a Security Token Offering (STO) platform under the Financial Services Commission’s regulatory sandbox.

It is now building a blockchain-based system that integrates issuance, investment, payment, and settlement—supported by partnerships with SK Telecom, Hana Financial Group, and a working group of 23 global service providers.

Mirae Asset 3.0: A Group-Wide Re-Targeting

Mirae Asset Group—which includes Mirae Asset Securities—is taking another bold leap forward following two earlier eras: 1.0, marked by its founding and the pioneering of mutual funds, and 2.0, defined by global expansion and ETF leadership. In October 2025, the Group declared the beginning of a new 3.0 era, advancing toward a future in which traditional and digital assets converge, powered by innovation in Web3 and digital assets.

While innovation inherently involves risk, Mirae Asset Group continues to move forward with unwavering conviction, guided by the long-term global strategy and leadership of its Founder & Global Strategy Officer (GSO).

Anchored by this vision, the Group surpassed KRW 1,000 trillion in client assets in just 28 years since its founding (as of July 2025).

In a global market where many institutions speak of innovation, Mirae Asset Group demonstrates what true innovation looks like—bold, disciplined, and relentlessly future-focused.

As a permanent innovator, the Group—and Mirae Asset Securities—will continue to evolve in ways that draw heightened attention from the world of global private banking.

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