Abu Dhabi ports have seen a 15.7% increase in non-oil trade during the second quarter of this year. Figures released by the emirate’s statistics centre show a surge in foreign demand for precious metals. It comes as analysts predict GCC economies to grow by 3.4% in 2015. Due to falling oil prices, countries with fewer financial buffers are witnessing problems related to low growth performance. Saudi Arabia and the UAE are less impacted, with strategies under way to promote non-oil trade.
Amazon in talks to invest in OpenAI
Amazon.com Inc is in discussions to invest in OpenAI, the developer of ChatGPT, in a potential deal that could value the artificial intelligence company at over $500 billion, a source familiar with the matter said on Tuesday.
DXB to welcome over 4.2 million guests over next two weeks
Dubai International Airport (DXB) is gearing up to accommodate a surge in travellers over the next two weeks, marking one of the busiest travel periods of the year.
UAE, India review strategic partnership during joint sessions in Abu Dhabi
The UAE and India have reviewed the progress of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries that aim to advance bilateral trade towards a shared goal of $100 billion.
Mubadala, Barings launch $500 million global real estate debt partnership
Abu Dhabi-based Mubadala Investment Company and global investment manager Barings have announced the launch of a $500 million global real estate debt partnership.
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