As AI joins the workforce, who gives it authority?
The first generation of enterprise generative AI largely answered questions, summarised documents and produced content. A human usually remained responsible...
Opinion
UAE records solid first-quarter growth as non-oil sectors account for nearly 80% of GDP
Real GDP rose to $132.0 billion at constant prices in the January-March period, while non-oil GDP expanded 4.8 percent, increasing...
Economy
Geostrategy
Saudi, UAE startups join World Economic Forum’s global tech cohort
Saudi Arabia was represented by intella, which develops Arabic-language speech recognition and analytics tools, and Nommas Technologies, which provides AI-powered...
- World Economic Forum's 2026 Technology Pioneers recognizes early-stage companies developing technologies with the potential to reshape industries and societies.
- The cohort underscores a shift in global innovation patterns, with emerging economies playing a larger role in frontier technologies.
Economy
PIF assets reach $910 billion by 2025 end, below Vision 2030 target
According to the latest Vision 2030 annual report, the real non-oil GDP reached $892 billion against a target of $904...
- The figure represents substantial growth for the sovereign wealth fund but remains below the programme's target of $1.09 trillion.
- The sovereign wealth fund is the main financial engine behind Vision 2030, Saudi Arabia's plan to reduce dependence on oil revenues.
Economy
Saudi Arabia’s economy expands as oil and non-oil sectors grow
According to the General Authority for Statistics (GASTAT), all major economic sectors recorded positive annual growth during the quarter, reflecting...
- Oil and non-oil activities each increased 2.9% from a year earlier, underscoring balanced contributions to economic expansion.
- By regulatory sectors, the oil sector expanded 2.8% YoY in Q1 2026, while the non-oil sector grew 2.6%. The private sector posted growth of 2.8%.
Business
Microsoft data highlights Qatar’s rapid Artificial Intelligence growth
The finding place Qatar among the top ten countries globally for practical AI usage. Qatar's AI market reached approximately $59...
- Experts say governance, regulation and workforce skills will determine the long-term success of Qatar's AI ambitions.
- Several institutions have played a leading role in advancing AI adoption, including Qatar Foundation for Education, Science and Community Development.
Economy
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...
- SAFE attributed May's increase primarily to exchange-rate valuation effects and changes in prices of global financial assets.
- China remains the world's largest holder of foreign exchange reserves, providing a key buffer against market volatility and external shocks.
Economy
UN food organization sees global cereal output falling in 2026/27
Dubai, UAE -- Global cereal production is expected to decline by 2% in the 2026/27 season to 2.982 billion tons,...
- Record 2025/26 harvests helped build global cereal inventories despite forecasts of tighter supplies in the coming season.
- Lower wheat and barley trade volumes are expected to offset stronger maize and rice shipments worldwide.
Economy
Energy costs push OECD inflation to highest level this year
Dubai, UAE -- Annual inflation across the Organisation for Economic Co-operation and Development (OECD) accelerated to 4.4% in April from...
- Energy inflation reached 13.2% across the OECD, with 31 member countries reporting higher energy costs during April.
- U.S. inflation rose to its highest level since May 2023, while Britain's core inflation fell to four-year lows.
Economy
Fragmenting world economy raises costs beyond geopolitical rivals
A report published by the World Economic Forum (WEF) and consulting firm Oliver Wyman found that fragmentation accelerated through 2025...
- Annual economic losses from fragmentation already total up to $307 billion as tariffs and investment restrictions proliferate globally.
- Emerging economies outside major geopolitical blocs could suffer output losses nearly twice the global average under escalation scenarios.
Business
ChatGPT surpasses 1 billion monthly active users in May
Dubai, UAE -- OpenAI's ChatGPT surpassed 1 billion monthly active users in May, becoming the fastest application to reach the...
- Sensor Tower estimates ChatGPT reached one billion monthly users roughly three years after launching in late 2022.
- Growing enterprise adoption and multimodal capabilities have helped fuel demand amid intensifying competition across artificial intelligence markets.
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...
- Trade remained the largest non-oil contributor, accounting for 16.9 percent of GDP, ahead of finance sectors.
- Officials highlighted investments in technology, innovation and digital economy initiatives as drivers of future readiness.
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As AI joins the workforce, who gives it authority?
The first generation of enterprise generative AI largely answered questions, summarised documents and produced content. A human usually remained responsible...
Opinion
Company News
Latest News
Bain identifies four priorities for sovereign wealth funds as assets approach $30 trillion
State-backed investors are expanding beyond traditional investment models, increasing exposure to alternatives, AI and direct deals while balancing returns with...
Economy
Saudi Arabia rises to 13th in global competitiveness rankings
The Kingdom ranked 13th out of 70 economies assessed in the annual report, improving from 17th place a year earlier...
Economy
Saudi Arabia’s inflation rises to 1.8 percent in May on higher rents
Dubai, UAE -- Saudi Arabia’s annual inflation rate rose to 1.8% in May 2026, up from April, as higher housing,...
Economy
Most Read
Business
AI success in life sciences depends on people as much as technology: Bain
Organizations creating the most value from AI are not necessarily those deploying the most technology. Instead, they are redesigning workflows,...
- Organizations achieving the strongest AI outcomes prioritize a handful of enterprise-wide initiatives rather than dispersing resources across numerous experiments.
- Workforce adoption remains the biggest challenge, prompting successful companies to invest heavily in change management, skills development and leadership engagement.
Geostrategy
Saudi, UAE startups join World Economic Forum’s global tech cohort
Saudi Arabia was represented by intella, which develops Arabic-language speech recognition and analytics tools, and Nommas Technologies, which provides AI-powered...
- World Economic Forum's 2026 Technology Pioneers recognizes early-stage companies developing technologies with the potential to reshape industries and societies.
- The cohort underscores a shift in global innovation patterns, with emerging economies playing a larger role in frontier technologies.
Economy
PIF assets reach $910 billion by 2025 end, below Vision 2030 target
According to the latest Vision 2030 annual report, the real non-oil GDP reached $892 billion against a target of $904...
- The figure represents substantial growth for the sovereign wealth fund but remains below the programme's target of $1.09 trillion.
- The sovereign wealth fund is the main financial engine behind Vision 2030, Saudi Arabia's plan to reduce dependence on oil revenues.