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Colossal Biosciences says it plans to create a wooly mammoth calf born to an elephant surrogate

Saudi-backed startup aiming to bring back extinct species raises $200m

Colossal Biosciences, the US biotech backed by Saudi investor Prince Khaled bin Alwaleed, this month raised $200 million in new funding, which will finance its goal to resurrect extinct species such as the woolly mammoth and the dodo.  The newest fundraising round brings the Dallas-based startup’s total raised from investors to $435 million.  Based on […]

IonQ staff (CEO Peter Chapman on the right) at a display of the company's Ion Trap technology at the New York Stock Exchange last month

UAE secures access to advanced US quantum computer

Abu Dhabi’s Quantum Research Center (QRC) has expanded its agreement with IonQ, a US-listed quantum computing company, securing access to IonQ Forte, an advanced quantum computer. The deal places the UAE among a handful of users with access to such advanced systems, reflecting the Gulf state’s push to position itself as a global leader in […]

Akkad Holdings hopes its IV fluid manufacturing facility in Saudi Arabia will make up for a global supply shortage

US fund plans $200m factory in Saudi Arabia

US-based fund Akkad Holdings is to invest $200 million to build an intravenous fluid factory in Saudi Arabia. The facility will be based in King Abdullah Economic City (KAEC) in Mecca province. “We’re going to break ground hopefully in the next six months,” Dr Steven Shaya, managing director of the fund, told AGBI at the […]

Electronics, Hardware, Computer Under planned regulations, data centres will be 'fully protected, like embassies,' Saudi Arabia says

Foreign data centres will be secure, promises Saudi minister

A regulatory framework to protect foreign-owned data centres set up in Saudi Arabia is being planned that will treat them in a similar way to embassies, as the kingdom seeks to become a global destination for the industry. The Saudi finance minister, Mohammed Al-Jadaan, speaking at the World Economic Forum in Davos, outlined the country’s […]

American professional basketball player LeBron James arrives at the Los Angeles Premiere Of Peacock's 'Shooting Stars' held at the Regency Village Theatre on May 31, 2023 in Westwood, Los Angeles, California, United States. (Photo by Xavier Collin/Image Press Agency) Credit: Image Press Agency/Alamy Live News

NBA’s LeBron James joins PIF-backed electric raceboat series

Lebron James, the NBA basketball star, has signed up as team owner in the UIM E1 World Championship, the all-electric raceboat series. James was named as owner of Team AlUla, named after the ancient oasis city in Saudi Arabia, ahead of the start of the 2025 season on Saturday in Jeddah. The championship, now in […]

US President Donald Trump makes a special address remotely during the 55th annual World Economic Forum (WEF) meeting in Davos on January 23

Oil slips after Trump calls on Opec to lower prices

Oil prices were down on Friday after US President Donald Trump drew a direct link between persistently high inflation and global oil prices during video remarks before the World Economic Forum in Davos, Switzerland.  Trump said he intends to address the problem by boosting domestic production and by asking “Saudi Arabia and Opec to bring […]

MGX is part of Donald Trump's $500bn project to build data centres, and has aims to be part of the 'next technological revolution'

MGX could use Trump deal as springboard to global stage

UAE technology investment company MGX emerged on to the global stage this week when it was announced as one of the core backers of Donald Trump’s $500 billion Stargate artificial intelligence programme. Among the myriad announcements made in the opening days of Trump’s second stint as US president, was a $500-billion investment over four years […]

QIA is open to investing in joint ventures similar to the one announced this week between SoftBank, OpenAI, and Oracle

QIA alert to Trump’s tech push

The Qatar Investment Authority (QIA) is open to exploring further technology investment opportunities, as it expects a sharp increase in US tech deals under the Trump administration. The presence of Elon Musk, Mark Zuckerberg and Jeff Bezos at President Donald Trump’s inauguration suggests his government will be supportive of the tech industry, Mohammed Al Hardan, the head of technology, media […]

Oil refinery worker. Saudi Arabia and other Opec members could be forced to boost output to offset a short-term loss in income, says one expert

Trump’s oil policy ‘problematic’ for Gulf producers, economists warn

Gulf oil producers should be worried about President Donald Trump‘s energy policy, economists have warned, as it could widen their budget deficits. Oil prices have already dipped in response to Trump’s pledge on Monday to boost US hydrocarbon production and they could plunge far below the breakeven prices adopted by Gulf governments in their annual […]

A wind farm project east of Addis Ababa; Ethiopia’s renewable energy resources make it an attractive location for bitcoin mining operations

Abu Dhabi’s Phoenix Group signs Ethiopian power deal

Abu Dhabi-based technology conglomerate Phoenix Group has acquired an 80 megawatt (MW) power purchase agreement (PPA) in Ethiopia. It follows just weeks after the company launched a 50MW cryptocurrency mining facility in North Dakota in the US.  A PPA is usually a long-term electricity supply agreement. The deal, secured in partnership with UAE cybersecurity company […]

SoftBank CEO Masayoshi Son, Oracle co-founder Larry Ellison and OpenAI CEO Sam Altman listen to Donald Trump talking about the Stargate project at the White House

Gulf has a strong hand in Trump’s $500bn AI project

Two of the three tech giants that will spend billions of dollars building US artificial intelligence infrastructure in a partnership announced by President Donald Trump have been the recipients of significant Gulf investment. Japan’s SoftBank and US companies OpenAI and Oracle have committed $500 billion over four years to Stargate, an entity tasked with building […]

Amin Nasser, CEO of Aramco, at the Future Investment Initiative; he told Reuters oil demand this year will approach 106 million barrels per day

Aramco chief expects extra oil demand of 1.3m bpd

Saudi oil giant Aramco’s chief executive Amin Nasser said on Tuesday he sees the oil market as healthy and expects an additional 1.3 million barrels per day of demand this year. Speaking to Reuters on the sidelines of the World Economic Forum in Davos, Nasser was responding to a question on the impact of US President Donald Trump’s energy […]

Trump and tech

Tech and crypto make a mark as Trump takes charge

Donald Trump’s inauguration on Monday as the 47th President of the United States was an overt display of the evolving ties between technology, politics and finance.  The presence of tech industry titans and the cryptocurrency market’s dramatic response highlighted the strong relationship between Trump’s administration and the tech world, with potential long-term impacts for Gulf […]

Person, Worker, Adult

Turkey’s exports to US surge but tariffs are a threat

Turkey’s exports to the US rose by $1.26 billion year on year to more than $13 billion in 2024, official data shows. The chemical and chemical products sector accounted for the largest share of exports at $1.5 billion, state-run Anadolu Agency reported, citing data from the Türkiye Exporters’ Assembly (TİM). The automotive industry followed at $1.2 […]

Donald Trump, flanked by the first lady Melania Trump, Vice President JD Vance and US House speaker Mike Johnson, addressed energy and trade at his inauguration

Trump doubles down on energy and trade on first day in job

US President Donald Trump pushed forward with multiple, controversial campaign pledges on the first day of his second term in the White House, including on issues such as energy and trade that are bound to affect Gulf economies. Ascribing stubbornly high inflation to “massive” government overspending and “escalating” energy prices, Trump declared after his inauguration […]

The minerals and metals sector dipped slightly on Donald Trump's presidential election victory but has remained largely resilient to talk of tariffs

Trump’s bravado fails to spook minerals market – so far

Ordinarily, commodity markets tend to react strongly when leaders of major global economies announce plans for war and conquest. If those plans involve disrupting one of the world’s most important sea lanes and reversing centuries of peace with two major allies, you might even expect a certain panic. Yet, when US President-elect Donald Trump declined […]

Saudi Crown Prince Mohammed bin Salman and President Donald Trump during the latter's first term. An expectant Saudi Arabia is prepared to face the challenges and opportunities of his second

Trump inauguration: Saudi Arabia comes into focus

Saudi Arabia looms large as Donald Trump moves back into the White House for a second term as US president, and there are many opportunities for cooperation along with significant challenges. Since Trump was first elected in 2016, one would be “hard pressed” to name a more changed nation than Saudi Arabia, according to Richard […]