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News

semafor.com
semafor.com > article > 09 > 10 > 2026 > gulf-corporate-profits-in-second-quarter-show-growing-divide-between-economies

Gulf corporate profits in second quarter show growing divide between economies

2+ day, 18+ hour ago   (174+ words) Listed companies in Saudi Arabia and Abu Dhabi are growing quickly, benefiting from higher oil prices and their ability to keep energy exports flowing. Gulf corporate profits in second quarter show growing divide between economies Corporate profits in the second…...

semafor.com
semafor.com > article > 09 > 10 > 2026 > abu-dhabis-mubadala-takes-stake-in-chinas-luckin-coffee-with-1b-deal

Abu Dhabi’s Mubadala takes stake in China’s Luckin coffee with $1B deal

2+ day, 18+ hour ago   (172+ words) Private equity firm Centurium Capital has contributed to the $1 billion investment alongside Mudabadala’s minority stake into China’s Luckin Coffee. Abu Dhabi sovereign wealth fund Mubadala has taken a stake in China’s Luckin Coffee as part of a $1 billion investment…...

semafor.com
semafor.com > article > 09 > 09 > 2026 > abu-dhabis-adgm-now-holds-more-than-100-billion-in-ai-money

Abu Dhabi’s ADGM now holds more than $100B in AI money

3+ day, 18+ hour ago   (167+ words) Abu Dhabi tech vehicle MGX, which closed its first fund in July at $49 billion, is the largest, according to ADGM. Abu Dhabi’s financial hub ADGM says entities licensed there now hold more than $100 billion in AI-focused investment, as it…...

semafor.com
semafor.com > article > 09 > 08 > 2026 > saudi-wealth-fund-takes-its-capital-pitch-to-wall-street

Exclusive: Saudi wealth fund takes its capital pitch to Wall Street

4+ day, 14+ hour ago   (398+ words) Saudi Arabia’s sovereign wealth fund is set to meet some of Wall Street’s biggest firms in New York this week as it seeks foreign backing for its spending plans amid cash constraints at home. The Saudi delegation is not fundraising…...

semafor.com
semafor.com > article > 09 > 08 > 2026 > chinese-carmaker-rox-begins-production-in-abu-dhabi

Chinese carmaker ROX begins production in Abu Dhabi

4+ day, 19+ hour ago   (167+ words) The brand, which moved its global headquarters to the UAE last year, plans to have production capacity for 20,000 vehicles in 2027. Chinese carmaker ROX has started producing its ADAMAS SUV in Abu Dhabi, with the first vehicles coming off a new…...

Semafor
semafor.com > article > 09 > 08 > 2026 > diplomacy-in-focus-as-gulf-leaders-visit-berlin-beijing

Diplomacy in focus as Gulf leaders visit Berlin, Beijing

4+ day, 19+ hour ago   (207+ words) Semafor Diplomacy in focus as Gulf leaders visit Berlin, Beijing Beijing and Berlin are on the itineraries of Gulf leaders this week, with diplomacy and economic resilience in focus as the Iran war grinds on. UAE President Sheikh Mohamed bin…...

semafor.com
semafor.com > article > 09 > 07 > 2026 > ubers-unicorn-partner-moove-mulls-nigeria-exit

Uber’s unicorn partner Moove mulls Nigeria exit

5+ day, 17+ hour ago   (160+ words) The company, which began offering new cars to Nigerian Uber drivers five years ago, is set to leave the country as Uber’s shock exit makes its business untenable. Moove, the Nigeria-born unicorn that has been Uber’s vehicle financing partner…...

semafor.com
semafor.com > article > 09 > 04 > 2026 > the-switzerland-of-ai-saudi-arabias-big-ai-bet

The ‘Switzerland’ of AI: Saudi Arabia’s big AI bet

5+ day, 19+ hour ago   (437+ words) HUMAIN CEO Tareq Amin recognizes Saudi Arabia’s latest effort to transform its economy for what it is: an audacious bet that it can join the US and China as a global AI superpower. Ahead of US President Donald Trump’s visit…...

semafor.com
semafor.com > article > 09 > 07 > 2026 > saudi-arabian-data-center-firm-races-to-export-compute-from-neom

Exclusive: Saudi Arabian data center firm races to export compute from NEOM

5+ day, 20+ hour ago   (306+ words) AI data center builder DataVolt, linked to Saudi billionaire Mohammed Abunayyan, plans to complete a 100-megawatt facility in NEOM within 13 months, focused entirely on exporting compute capacity. The data center will cost around $1 billion and has already broken ground. Rajit…...

semafor.com
semafor.com > article > 09 > 04 > 2026 > 300k-falcons-fly-off-the-shelves-in-abu-dhabi

$300k falcons fly off the shelves in Abu Dhabi

1+ week, 1+ day ago   (172+ words) Bred on the same American farm, an ultra-white gyrfalcon chick went for 1.1 million dirhams ($300,000) while a pure-white gyr fetched 1.5 million dirhams. The Gulf is on a multi-million dollar falcon shopping spree, with two prized birds trading for eye-watering prices in…...