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Its decided! Donald Trump will be the 47th President of the United States of America, according to projections. For winning a second term at the White House, Donald Trump received a lot of ‘messages’ from different leaders of the world. Meanwhile, here is what may follow if he decides to act on all the promises he made during his rallies before the election. Lastly, Al Jazeera explores the idea why Trump’s second time in power will potentially be led by ‘revenge’.

Now, back to our and everyone’s favourite region for business at the moment, the Middle East.

Middle Eastern stock markets rose alongside global markets on Wednesday after Donald Trump reclaimed the US presidency. Majid Al Futtaim, the Middle East franchisee of Carrefour, announced the suspension of Carrefour operations in Jordan, replacing it with a new brand, Hypermax. Also, Saudi-based Mush Social secured $1.2 million in a Pre-Seed funding round, led by Nifal Consulting with support from Nahr Al-Jazeera Holding and angel investors.

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Middle East Markets Surge as Global Stocks Rally Following Trump’s Presidential Win

📰 What is it about?

• Middle Eastern stock markets rose alongside global markets on Wednesday after Donald Trump reclaimed the U.S. presidency. In the region, Abu Dhabi’s ADX index climbed 0.437% to close at 9,424.93, Dubai’s DFMGI index rose 0.47% to 4,616.28, and Saudi Arabia’s TASI index gained 0.65%, ending at 12,093.35. Egypt’s EGX30 index led regional gains, increasing 0.82% to reach 31,045.26.

• Investors across the Middle East are responding positively to Trump’s expected domestic policy focus, which could benefit U.S.-linked trade and infrastructure sectors. This optimism comes despite Trump’s known stance on trade tariffs, which has impacted emerging markets in the past.

💡 Why it matters?

• Trump’s win has sparked a significant market rally worldwide, with expectations for tax cuts and pro-business policies that would likely benefit U.S. companies. S&P and Nasdaq futures jumped over 2%, and small-cap stocks in the Russell 2000 index surged 6%.

• Meanwhile, the dollar index rose 1.4%, marking its largest single-day jump since early 2023. However, U.S. bond yields are climbing, as investors foresee a growing deficit under Trump’s policies.

• In Europe, stocks rallied, with the STOXX 600 index gaining 0.9%, though the euro dropped 2% to $1.070, its biggest daily fall since Brexit. Emerging markets, however, felt pressure: Mexico’s peso dropped 3% to a two-year low, and China’s offshore yuan slipped 1.5%. These declines reflect apprehension around new U.S. tariffs under Trump, which could impact international trade and emerging economies.

🔜 What’s next?

• As Trump prepares to assume office, Middle Eastern markets appear well-positioned to capitalize on renewed U.S. infrastructure and trade policy initiatives, though careful navigation of potential tariffs will be crucial.

• The rally in U.S. stocks and the dollar has weighed down oil prices, with U.S. crude down 1.8% to $70.68 per barrel and Brent slipping to $74.18. Gold also dipped 1.6% to $2,700 per ounce amid heightened dollar strength. However, Bitcoin surged to a record $75,397, up 7% on expectations that Trump may favor cryptocurrencies.

• Middle Eastern investors are closely watching these developments. While optimism in equities is strong, the volatility across commodities and currency markets suggests a cautious outlook, particularly as U.S. policies could introduce new trade risks for emerging markets.

• The region’s leaders will likely need to balance enthusiasm with a strategic approach to capitalize on U.S. policy shifts while mitigating any fallout from global economic adjustments.

📈 Markets

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Majid Al Futtaim Suspends Carrefour Operations in Jordan, Replaces it with New Brand Hypermax

📰 What is it about?

• Majid Al Futtaim, the Middle East franchisee of Carrefour, announced the suspension of Carrefour operations in Jordan, replacing it with a new brand, Hypermax. The decision came amid a long-standing boycott against Carrefour Jordan, led by Jordanian activists who criticized the retailer for perceived support of Israel's military activities in Gaza.

• Carrefour Jordan’s social media statement confirmed the closure without specifying reasons, while Carrefour itself declined to comment.

• Majid Al Futtaim stated that it “regularly reviews” its businesses to stay adaptable in response to market conditions. The replacement brand, Hypermax, will serve local preferences and focus on locally sourced products in all 34 of Carrefour’s former locations in Jordan. This move aligns with regional pro-Palestinian efforts, particularly the Boycott, Divestment, Sanctions (BDS) movement, which advocates for economic pressure on businesses with perceived ties to Israel.

💡 Why it matters?

• The closure appears to be a response to the ongoing boycott campaign in Jordan, supported by the BDS movement. Since Carrefour entered the Israeli market in 2022, the brand has been criticized in pro-Palestinian regions, leading to a noticeable decline in sales due to local boycotts. Activists considered the closure a success and cited the boycott’s impact on sales and Carrefour’s market position as key factors in the decision.

• Majid Al Futtaim’s introduction of Hypermax, a new Arab grocery brand, aims to align with local Jordanian values and preferences, likely aiming to restore consumer trust and address the backlash against Carrefour's brand association.

🔜 What’s next?

• The transition to Hypermax reflects a strategic pivot by Majid Al Futtaim to reduce friction in Jordan’s market and rebuild consumer loyalty with a brand perceived as locally oriented. Hypermax’s launch in Jordan may be the beginning of region-wide adjustments if consumer resistance against Carrefour continues in other pro-Palestinian countries.

• The BDS movement plans to intensify regional boycotts, which could pressure other companies in similar situations to reconsider their market strategies. For Majid Al Futtaim, this shift could serve as a test case, as Hypermax’s success in Jordan will likely determine if similar changes will occur in other Carrefour stores in the Middle East.

💭Quote of the day
“Play by the rules, but be ferocious.” - Phil Knight, Co-founder of Nike, Inc.

Mush Social Raises $1.2M Pre-Seed Round, Targeting User-Owned Virtual Assets and Global Expansion

📰 What is it about?

• Saudi-based Mush Social secured $1.2 million in a Pre-Seed funding round, led by Nifal Consulting with support from Nahr Al-Jazeera Holding and angel investors.

• This funding will enable Mush Social to further develop its platform, which blends social media with financial incentives for users through an innovative “Map” feature that allows users to earn interactive points and eventually gain financial returns on virtual assets.

💡 Why it matters?

• In a highly competitive social media market where established platforms dominate, Mush Social aims to differentiate itself by offering tangible rewards and ownership of digital assets. By leveraging financial incentives and asset ownership, the platform intends to drive higher user engagement and create value that extends beyond traditional social media interactions.

• Although Mush Social is relatively new and ranked low among 109 competitors, it’s positioning itself for long-term value with features that combine social engagement and financial benefits.

🔜 What’s next?

• With the Pre-Seed funding, Mush Social will invest in advanced technologies to enhance its interactive Map feature, aiming to create a unique user experience that sets it apart from competitors.

• The company plans to expand internationally by delivering a high-quality tech product that resonates across diverse markets. If successful, Mush Social’s model of turning social interactions into financial returns could pave the way for broader adoption of reward-based social platforms.

🔍In other news…

1. Mona Kattan’s Kayali joins forces with Oman’s Amouage.

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