UAE launches world’s most powerful small AI models
The UAE’s Technology Innovation Institute (TII) has launched Falcon 3, the latest advance in its open-source large language model (LLM) series, marking a significant breakthrough in AI.
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Dubai hotel digitises the ‘What if?’ question
Dubai’s Al Habtoor Palace, the flagship property of the Al Habtoor City Hotel Collection, has announced a partnership with IDeaS, a leading provider of hospitality revenue management solutions.
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Public-private partnership drives Dubai logistics platform
Dubai’s Roads and Transport Authority (RTA) has partnered with TruKKer, a leading digital logistics platform, to launch Logisty, a cutting-edge initiative aimed at transforming the freight transport sector and solidifying Dubai’s status as a key logistics hub in the region.
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Real Estate
200-unit eco resort deal for Al-Ahsa, KSA
Dan Company, a PIF firm focused on ecotourism, has partnered with Abdulmohsen Al-Tamimi Contracting Company to build the first luxury resorts in Al-Ahsa, Saudi Arabia. This marks another milestone in the nation’s growing tourism and hospitality sectors.
Economy
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KSA acquires 15% stake in Heathrow Airport
Saudi Arabia’s Public Investment Fund (PIF) and French investment firm Ardian have completed the acquisition of a 37.6% stake in Heathrow Airport Holdings for $4.1bn.
Entrepreneur
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UAE fintech secures $500m funding from Citigroup
Citigroup has provided a $500m financing facility to Abu Dhabi’s Astra Tech. The funding is in the form of asset-backed securitisation and will support Astra Tech’s subsidiary Quantix and its CashNow consumer lending platform.
Economy
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Bahrain roars into 2025 F1 season with double duties
Bahrain will once again host Formula 1 pre-season testing. This marks the fifth consecutive year the Kingdom has been selected for this event, further cementing its reputation as a premier motorsport destination in the Middle East.
Economy
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Trillion-dollar push for global mineral growth ahead of Riyadh conference
A new report titled Shaping the Future of Minerals estimates that $5.4tr in capital investment will be required to sustain and expand mining and processing facilities worldwide.
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Standard Chartered grows its UAE HQ
The British multinational bank Standard Chartered has announced plans to expand its private banking team in the UAE by 20%. This move is part of the bank’s broader effort to enhance its services for high-net-worth clients in the region.
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With its $500bn wealth fund, Qatar targets US, UK, Asia
The Qatar Investment Authority (QIA) has announced it will substantially increase its investment activities, focusing on high-return opportunities in sectors including technology, healthcare, real estate and infrastructure in the US, UK and Asia.