Electricity use in MENA is surging, with $44bn invested in 2024 and demand set to rise 50 per cent by 2035, IEA says, led by cooling and desalination
World
king charles
Trump in UK: King Charles lauds ‘special relationship’ at Windsor banquet, Starmer trade talks next
Royal pomp and splendour marked Donald Trump’s banquet with King Charles, but the visit now shifts from ceremony to politics as the US president set to meet Prime Minister for trade talks
US Federal Reserve
Poor job market and inflation push Fed to cut interest rate for first time in 2025
With only the new Fed Governor Stephen Miran dissenting, Fed almost unanimous in reducing short-term rate by a quarter per cent
Altera
Abu Dhabi’s MGX and Silver Lake acquire majority stake in Altera
Intel to retain 49% stake in the company, which is into programmable semiconductor solutions
Bernard Arnault
10 business secrets of the world’s richest billionaires every executive must know in 2025
Discover the business secrets of Elon Musk, Jeff Bezos, Bernard Arnault, Mark Zuckerberg, Warren Buffett, and other billionaires whose combined wealth tops $2.2tn — lessons every executive can use in 2025
Capital.com
UAE drives Capital.com to record $1.5tn global trading volumes in H1 2025
The UAE accounted for more than 70% of MENA trading activity as Capital.com reported record half-year volumes, underscoring the region’s rise as a global hub for online trading
AI
AI in 2025: Retail leads in success, healthcare struggles, banking takes cautious path
Lenovo’s CIO Playbook 2025 reveals retail leading in AI success, healthcare struggling with results, and banking sectors benefiting from a cautious approach
cepa
UAE–New Zealand deal to lift trade to $5bn by 2032
UAE–New Zealand trade deal takes effect, unlocking duty-free access and boosting bilateral trade to over $5bn by 2032
ADNOC
ADNOC signs 15-year LNG supply deal with IndianOil worth 1 million tonnes annually
By 2029, IndianOil is set to become ADNOC’s LNG customer with a total offtake of 2.2 mtpa
football
EXCLUSIVE: Will Fortnite kill football? Ex-Liverpool CEO talks gaming, sports and Saudi Arabia
In an exclusive interview with Arabian Business, the former Liverpool FC CEO and gaming veteran talks gaming, the legacy he left behind and more
Artificial intelligence
OpenAI to make ChatGPT changes following lawsuit over teenager’s death
“We’re continuing to improve how our models recognise and respond to signs of mental and emotional distress and connect people with care,” the company said
Abu Dhabi
Abu Dhabi’s AD Ports Group expands Angola commitments with new agreements
This includes MoUs to develop digital single logistics trade window, $6mn deal to expand truck fleet and cooperation in new sectors
Apple
Elon Musk’s xAI seeks billions in damages from Apple and OpenAI
In a lawsuit filed in Texas, xAI claims the Defendants have locked up markets to maintain their monopolies and prevent others from competing
Abu Dhabi National Energy Company
TAQA expands water treatment business with $1.2bn acquisition of GS Inima
The Spanish company is a global leader in water treatment and desalination with presence in 10 countries, including Brazil, Mexico, the US, and Oman
Dubai
Dubai fund FHV bets on $100 million push as global wealth migration fuels high-end dining boom
Fern Hospitality Ventures is in talks with Saudi family offices, wealthy Indian investors and Abu Dhabi-based funds, with larger sovereign investors expected to follow, founders say
DP World
Dubai’s DP World and ITOCHU partner to help Japanese businesses access Africa
Partnership to focus on fleet and logistics operations, supply chain optimisation, and distribution of commodities and food products
Aviation
Boeing reportedly close to a massive 500-aircraft deal with China
Bloomberg reports that China’s central authority have already started consulting domestic airlines about how many Boeing aircraft they’d need
