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Intelligence for the New World Economy

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Intelligence for the New World Economy
Semafor World Economy
Kelsey Warner

Kelsey Warner

Reporter

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Sam Altman calls off Abu Dhabi visit

As an investor and customer, the UAE has deep ties to OpenAI.
CEO of OpenAI Sam Altman on Capitol Hill.Kylie Cooper/Reuters

Blue Owl opens office in Abu Dhabi

Wall Street firms are still betting on the UAE capital despite uncertainty over the Iran war.
Abu Dhabi’s ADGM. Courtesy of ADGM.

Abu Dhabi continues to attract startup founders despite war

Organizers feared a subdued annual gathering for Abu Dhabi’s seven-year-old entrepreneurial center Hub71; the vibe at the event this week was anything but.
Abu Dhabi Department of Economic Development and Hub71 Chairman Ahmed Jesim Al Zaabi speaks at the Hub71 event in Abu Dhabi on June 9, 2026.Courtesy of Hub71

UAE employers plan to cut staff, pushed by uncertainty

A survey of 546 firms from US recruiting firm ManpowerGroup offers a rare forward-looking read on sentiment.
Power towers and cables with the Dubai skyline in the background.Amr Alfiky/Reuters

Abu Dhabi’s money man pledges accelerated US investment

Khaldoon Al Mubarak visited Washington, where he met with a number of Trump administration officials.
US Commerce Secretary Howard Lutnick with Khaldoon Al Mubarak. Courtesy of Embassy of the United Arab Emirates Washington DC

Abu Dhabi doubles down on French AI with fresh deals

A joint venture of MGX, state-owned investment bank Bpifrance, chipmaker Nvidia, and France’s AI champion Mistral announced a Campus AI expansion and total investment close to $9 billion.
Emmanuel Macron, president of France, and Khaldoon Al Mubarak, MGX vice chairman, at a signing for Campus AI. Courtesy of Emirates News Agency-WAM.

UAE telecom giant e& gives up plan to build a ‘super app’

The company agreed to sell 12.5% of Careem Technologies back to Uber for $100 million, reducing its majority holding.

UAE ups pre-IPO stake in Anthropic

Sovereign wealth fund MGX backed the AI startup’s $65 billion fundraise, further strengthening its position in the Claude developer.

The US relied on a spurned friend during the Iran war: Canada

The US embassy in the UAE had to improvise to help Americans without passports after its facilities came under fire.

Operating rooms get AI-equipped in the UAE

Abu Dhabi is licensing technology from Johnson & Johnson to gather more data on medical procedures and outcomes.

Qatar Airways expands Africa network

The Doha-based carrier will resume flights to the Seychelles and Kigali, add a daily service to Marrakesh, and launch a new route to Port Sudan.

Emirates Airways to build new mega-hangar

The $5.1 billion hangar — slated to be the Gulf’s largest steel building — is capable of servicing 28 planes at a time.

Abu Dhabi to build Sphere as part of tourism push

Like its sister site in Las Vegas, the Sphere Abu Dhabi will seat up to 20,000, and is part of the city’s efforts to show that its hospitality industry remains unbowed.

Mubadala-backed M42 pitches genomics capabilities to the world

The healthcare firm has gathered a large database of the UAE’s gene pool, which it is using for personalized care.

UAE AI development faces bottlenecks, executives say

While access to chips has been a focus for Gulf states, other factors are also delaying progress.

PepsiCo eyes local production boost in Abu Dhabi

PepsiCo franchisee Abu Dhabi Refreshment Company is spending $82 million on a new production facility in the UAE capital.

ADNOC Drilling taps AI to slash oil rig costs

The UAE national oil company subsidiary expects to invest approximately $1 billion in AI and technology in the coming year.

UAE visa rules exclude stablecoin salaries despite crypto push

Such policies matter more now than they did a few months ago, as the Gulf’s pitch to attract expatriates has been undermined by the Iran war.