China’s foreign exchange reserves rise by $31bn to $3.44 trillion
Dubai, UAE -- China’s foreign exchange reserves rose to $3.4422 trillion at the end of May, their highest level in...
Economy
UAE GDP reaches $517 billion as economy grows 6.2 percent
Non-oil activities drove growth as construction, finance, real estate and transport sectors posted robust gains, underscoring diversification efforts and long-term...
Economy
Business
OpenAI big chip orders dwarf its revenues – for now
New York, United States - OpenAI is ordering hundreds of billions of dollars worth of chips in the artificial intelligence...
- In less than a month, the San Francisco startup behind ChatGPT has committed to acquiring a staggering 26 gigawatts of sophisticated data processors from Nvidia, AMD, and Broadcom
- Silicon Valley-based Nvidia has announced plans to invest up to $100 billion in OpenAI over several years to build the world's largest AI infrastructure
Geostrategy
China’s power paradox: record renewables, continued coal
Bangkok, Thailand -- Call it the China power paradox: while Beijing leads the world in renewable energy expansion, its coal...
- China accounted for 93 percent of new global coal construction in 2024, the Centre for Research on Energy and Clear Air (CREA) found.
- China wants 3,600 gigawatts of wind and solar by 2035, but that may not meet future demand, risking further coal increases.
Science
Non-Human Identities: How Agentic AI is creating a new, unseen frontier in enterprise cybersecurity risk
Adept at grasping context, planning and adaptive problem-solving, the agentic AI execute complex, multi-step processes with minimal human intervention or...
- In order to interact with different systems on our behalf, agentic AI has given rise to non-human identities (NHIs)
- The proliferation of NHIs in security blindspots, including leveraging cryptography assets, vastly increases the attack surface for malicious actors
Geostrategy
OpenAI halts MLK videos as deepfakes spark outrage
Washington, United States -- OpenAI has suspended its Sora 2 artificial intelligence tool from creating videos of civil rights icon...
- The slain civil rights leader's estate and OpenAI said the company would pause generations depicting King while it "strengthens guardrails for historical figures."
- Videos reanimating other dead figures including Malcolm X, Michael Jackson, Elvis Presley and Amy Winehouse have flooded social media since Sora 2's launch on September 30.
Geostrategy
Building a secure future: Key takeaways from WEF’s Dubai meetings
The Annual Meeting on Cybersecurity, held jointly with the Global Future Councils, focused on strengthening global cooperation to enhance digital...
- It convened over 500 experts from government, business, civil society and media, together with 150 of the world’s foremost cybersecurity leaders.
- Participants identified key innovations, policies and business models that could drive meaningful and sustainable economic growth.
Economy
Asian markets rally as Fed cut hopes trump trade war fears
Stocks jumped Wednesday as trade war fears were overshadowed by comments from Federal Reserve boss Jerome Powell that suggested the...
- After a volatile couple of days characterised by a fresh flare-up in China-US tensions, investors took the opportunity to jump back into the market and resume a months-long rally
- Powell has for most of the year walked a fine line between trying to keep a cap on US inflation while also supporting the labour market, even as he faced abuse from President Trump
Economy
IMF lifts 2025 global growth forecast, warns of ongoing trade ‘uncertainty’
In its flagship World Economic Outlook (WEO) report -- compiled before the most recent US-China tariff spat -- the IMF...
- The global inflation rate is expected to remain elevated at 4.2 percent this year, and 3.7 percent in 2026.
- The IMF raised its prospects for economic growth for the United States, the world's largest economy, by 0.1 percent this year and next, to 2.0 percent in 2025.
Business
WEF’s Dubai Summit tackles existential digital risks
DUBAI, UAE – A powerful confluence of more than 500 experts and 150 cybersecurity leaders has converged in Dubai for...
- The meeting will inform and drive collaborative solutions to shared challenges.
- This year’s meetings will provide much-needed space to navigate uncertainty, decode emerging trends and strengthen resilience.
Economy
Nobel economist warns of AI dangers amid “amazing possibilities”
Washington, United States - A winner of this year’s Nobel prize in economics warned Monday that artificial intelligence offers "amazing...
- The remarks from Canadian Peter Howitt, professor emeritus at Brown University in the United States, came amid growing concerns about how AI will impact society and labor market
- Howitt was one of three economists honored Monday by the Royal Swedish Academy of Sciences for work on how technology drives and affects growth
Economy
As Trump mulls imposing additional 100% tariff, China says will ‘fight to the end’ in trade war
China said on Tuesday it was ready to "fight to the end" in a trade war with the United States...
- "On the matter of tariff wars and trade wars, China's position remains consistent," an unnamed commerce ministry spokesperson said
- Concerns spiked over the weekend that the trade war between the world's top two economies will worsen after Trump announced extra 100 percent tariffs on all Chinese goods
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
China’s foreign exchange reserves rise by $31bn to $3.44 trillion
Dubai, UAE -- China’s foreign exchange reserves rose to $3.4422 trillion at the end of May, their highest level in...
Economy
Company News
Latest News
Battle of the Tech Hubs
Economy
Why the GCC should stop trying to build Silicon Valley and focus on owning it
Fahad AlSharekh says the GCC’s edge isn’t startup mimicry but global investment power — backing AI, infrastructure and category leaders...
UAE launches first 7-year Islamic Treasury Sukuk worth $150 million
Abu Dhabi, UAE -- The UAE Ministry of Finance said on Sunday it had launched its first-ever seven-year tranche of...
Business
GCC as the bridge in a fragmented global ad tech market
S4 Capital founder Martin Sorrell tells TRENDS digital dominance, AI disruption and consolidation are reshaping global advertising, urging agile, tech-first...
Most Read
Interview
UAE is shifting from attracting talent to unleashing it: Sheraa vice-chairperson
With national campaigns such as The Emirates: The Startup Capital of the World setting targets of training 10,000 Emiratis and...
- The most significant opportunity lies in closing the conversion gap: the space between generating knowledge and turning it into scalable enterprises.
- More than 18,000 young people have been upskilled through Sheraa, giving them the confidence and competence to navigate a rapidly evolving digital landscape.
Economy
Sovereign tech: Building a regional stack, not rival silos
As Gulf states race to build sovereign AI and cloud infrastructure, the real opportunity lies in pooling capital, standards and...
- Technical and compliance challenges are pushing GCC countries toward common governance constructs and vendor frameworks
- To boost talent mobility, GCC SWFs can underwrite regional AI academies, and visa standardization for tech talent
Interview
Gulf startup hubs: Converging strategies, diverging ambitions
Despite fierce branding as rivals, Gulf startup hubs share capital, policy, and talent structures that are quietly shaping distinct, globally...
- Shared infrastructure, capital flows, and policy choices bind these ecosystems together more than they divide them.
- The critical question for Gulf ecosystems is not whether they have capital or talent, but whether both are organized toward genuinely global ambition.