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Intelligence for the New World Economy

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Intelligence for the New World Economy

Semafor Gulf

Fossil fuels will power the AI revolution, Saudi Aramco CEO says

The surge in electricity demand driven by electric vehicles and data centers will be supported by fossil fuels rather than renewables, Amin Nasser said.
Amin H. Nasser, president and CEO of Saudi Aramco, in 2019. Hamad I Mohammed/Reuters.

PIF is backing Goop for Saudi women

Kayanee, the Riyadh-based athleisure and wellness brand, plans to expand in the Gulf, and beyond, next year.
Kayanee’s “Rib Collar Parka.” Courtesy of Kayanee.

Saudi set to give retail traders bigger IPO roles

Stock market seeks to give retail investors larger portion of new stock sales to help boost liquidity.
A Saudi trader monitors stocks at the Saudi stock market in Riyadh.Faisal Al Nasser/Reuters

Say ‘I do’ on Abu Dhabi’s super app

TAMM is rolling out virtual wedding ceremonies as the government services app aims to be a one-stop for practically everything.
The TAMM Factory in Abu Dhabi. Courtesy Department of Government Enablement.

Abraham Accords helped pave the path toward peace

The UAE’s quiet diplomacy was crucial to achieving the Trump Peace Initiative to end the war in Gaza.
US President Trump hosts leaders for Abraham Accords signing ceremony at the White House in Washington.Tom Brenner/Reuters

ADNOC announces plan to distribute $43B in dividends

The Abu Dhabi oil giant plans the distribution by 2030 across its six publicly listed companies.
Employees at ADNOC.Courtesy of ADNOC

Dubai notches another record quarter for luxury home sales

The city recorded 17 deals valued at more than $25 million, with the most expensive property being bought for more than $95 million.

Saudi drafts Uber founder, Nobel laureate, and property exec as citizens

The citizenships were granted as part of a yearslong drive by the kingdom to attract top global talent.

G42 leans on security in US chip talks

The Abu Dhabi AI conglomerate was struck a blow this week when US companies clinched UAE-bound chips.

Through high-end medicine you can live in the UAE… forever

AI-driven genomics and stem cell therapies are shaping a new market for health and longevity in the UAE.

Saudi’s new airline says not hit by PIF spending review

Riyadh Air sees no let up in government financial support as it launches its first routes.

KKR sees Gulf on the path to global financial hub status

The region must, however, boost productivity and unlock value in its companies to put its cities on par with Hong Kong, London, and Singapore.

Saudi heir’s private jet rant on welfare cuts sparks outrage

His comments came after his cousin, Human Resources Minister Ahmad Al Rajhi, suspended parts of the social security program.

Brookfield closes $20 billion Altérra-anchored fund

The fund’s close comes as energy demand is surging globally.

Saudi Arabia business delegation to visit Pakistan

Pakistan is hoping that the visit will lead to about $1 billion of much-needed investment into its economy.

Abu Dhabi to Dubai corridor slated for major development

Today, highway E11 crosses arid farm plots, industrial sites, and little else.

PIF hires banks for cybersecurity firm IPO

Saudi Arabia’s sovereign wealth fund hired Morgan Stanley and Riyad Capital to list tech firm SITE next year.

What history and game theory tell us about defense pacts

There are lessons for Gulf states as they consider defense pacts in a transformed region.