Technology

Saudi PIF trims Nintendo stake from 7.5% to 6.3% in second cut of month

A filing with Japan’s Finance Ministry said the move follows the sale of more than 17 million Nintendo shares, which concluded in October.

US President Joe Biden and UAE President Sheikh Mohamed bin Zayed Al Nahyan walk to the Oval Office for a meeting, where the two discussed AI and ending the war in Gaza on Sept. 23, 2024, in Washington.

Analysis

How new US AI framework could impact UAE, Saudi ambitions

The framework comes as the UAE has deepened its AI ties with the United States in recent months over a series of visits to Washington by senior Emirati officials.

Samuel Wendel

By Jack Dutton , Samuel Wendel

Visitors walk among displays at the UMEX Exhibition showcasing drones, robotics, and unmanned sytems at the Abu Dhabi National Exhibition Centre in Abu Dhabi on January 23, 2024. (Photo by Ryan LIM / AFP) (Photo by RYAN LIM/AFP via Getty Images)

Analysis

What UAE's Edge expansion into space means for country's military industry

Abu Dhabi has recently seen a significant boost in its domestic defense and aerospace capabilities, thanks to its nation-based conglomerate, EDGE. This month, the group launched its new space company, FADA, marking a milestone in enhancing the Emirati’s status in the strategic space sector.

Francesco Schiavi

By Francesco Schiavi

In Bologna, reporting on security, defense, economy, governance

AFP via Getty Images

Middle East startups see 34% uptick in global investors

Data firm MAGNiTT reported Tuesday that the Middle East far outperformed other markets and regions, including Africa and Southeast Asia, which saw steeper drops.

Latest News

UAE’s Sheikh Tahnoon discusses AI, tech with Jeff Bezos, Elon Musk in US

This combination of file photos created July 15, 2020, shows Tesla and SpaceX founder Elon Musk in Washington, DC, on March 9, 2020, and Amazon and Blue Origin founder Jeff Bezos in Washington, DC, Oct. 22, 2019.

United Arab Emirates

In White House visit, UAE leader seeks cooperation on Gaza and AI

MANDEL NGAN/AFP via Getty Images

United Arab Emirates

Sign up to our Daily Briefing

Keep up with Al-Monitor's top stories with a morning digest from across the region.

Analysis

Hezbollah’s exploding pagers to fuel widespread MidEast consumer electronic fears

Members of the Lebanese Shiite Movement Hezbollah salute during the funeral of a comrade who was killed the previous day by the explosion of a communication device, in Adloun south of Tyre in southern Lebanon on September 19, 2024.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Analysis

Pager attacks shake Hezbollah; are they prelude to Israel-Lebanon deal?

Hezbollah fighters carry the coffins of people killed after hundreds of paging devices exploded in a deadly wave across Lebanon the previous day, during their funeral procession in Beirut's southern suburbs on September 18, 2024. Hundreds of pagers used by Hezbollah members exploded across Lebanon on September 17, killing at least nine people and wounding around 2,800 in blasts the Iran-backed militant group blamed on Israel. (Photo by ANWAR AMRO / AFP) (Photo by ANWAR AMRO/AFP via Getty Images)

In Tel Aviv, reporting on national security, Israeli politics, defense

Guests attend the Global AI 2020 Summit in the Saudi capital, Riyadh, on Oct. 21, 2020.

With $40B fund, Saudi Arabia looks to become world leader in AI

The fund would make the Gulf state the world’s largest investor in AI and help the kingdom realize its Vision 2030 agenda to diversify the economy away from oil.

BILS Facebook announcement.

Israeli cryptocurrency exchange to launch shekel-backed stablecoin

Stablecoins, which are digital currencies that are pegged to stable assets such as fiat currencies, have a degree of appeal in the Middle East.

Women walks through the Museum of the Future in Dubai during the Artificial Intelligence Forum held on October 11, 2023. (Photo by Karim SAHIB / AFP) (Photo by KARIM SAHIB/AFP via Getty Images)

What to know about MGX, UAE’s latest AI investment firm

The launch of the AI-focused firm follows the UAE’s largest company appointing an AI bot to its board, as Abu Dhabi seeks to become a world player in artificial intelligence.

United Arab Emirates

Photo from LEAP 2024.

AI and cloud investments dominate Saudi Arabia's LEAP tech summit

Amazon Web Services and DataVolt were among the companies that made significant cloud investments in the kingdom, which is looking to become a global technology hub.

A picture shows the new Iranian drone "Mohajer 10" during Iran's defence industry achievements exhibition in Tehran on August 23, 2023. Iran unveiled on August 22 its latest domestically built drone that can fly at a higher altitude and for a longer duration with enhanced weapons capabilities, state media reported. (Photo by ATTA KENARE / AFP) (Photo by ATTA KENARE/AFP via Getty Images)

Iran showcases Shahed drones, missiles at Qatar's defense exhibition

This year’s Doha International Maritime Defence Exhibition and Conference features Iranian drones, Russian warships and delegations from across Asia and Africa.

The Ameca humanoid robot greets visitors at Dubai's Museum of the Future, on October 11, 2022. (Photo by Karim SAHIB / AFP) (Photo by KARIM SAHIB/AFP via Getty Images)

UAE's largest company IHC appoints AI bot to board

Several international companies have named AI-based entities to their leadership structures in recent years. The UAE is seeking to become a world leader in artificial intelligence.

Guests attend the Global AI 2020 (Artificial Intelligence) Summit in the Saudi capital, Riyadh, on Oct. 21, 2020.

Saudi tech giant expands investments into China, AI as part of $100B plans

Alat plans to invest $100 billion by 2030 to coincide with Crown Prince Mohammed bin Salman’s Vision 2030 plan to wean the kingdom’s economy off of its reliance on oil.

PIERRE-PHILIPPE MARCOU/AFP via Getty Images

Analysis

With Iran's cyberattacks on rise since Gaza war, Israel looks to private industry

Israeli experts warn that cyberattacks against Israeli companies, institutions and infrastructure have grown more frequent and sophisticated since Oct. 7.

Tal Pavel

In Modiin, Israel, reporting on Israel

Breaking | Last Updated: January 19, 2024, 5:15 am

Turkey’s first astronaut heads to space

Turks tune in to live national TV to watch Turkey’s first astronaut travel to space.

Emiratis attend the presentation of the UAE Space Agency's strategic frameworks on May 25, 2015, at the National Exhibition Center in Abu Dhabi.

New $4 billion AI space entity unveiled in UAE

Bayanat and Yahsat plan to merge into Space42 as the United Arab Emirates, Saudi Arabia and Oman all seek more opportunities in the space sector.

Abu Dhabi's crown prince, Sheikh Mohammed bin Zayed Al Nahyan, left, shakes hands with Chinese President Xi Jinping after witnessed a signing ceremony at the Great Hall of the People in Beijing, Monday, July 22, 2019.

Analysis

Will US pressure on UAE-China tech cooperation pay off?

Companies in the Gulf are feeling pressure from the United States over technological ties with China, according to one expert.

Adam Lucente

By Adam Lucente

In New York City, reporting on regional news, militancy, climate change

The Chinese and the Saudi flags adorning a street in Riyadh ahead of the Chinese president's visit to the Saudi capital, Dec. 7, 2022.

Saudi PIF ups investment in China’s Alibaba-backed tech fund

eWTP Arabia Capital invests in energy and technology start-ups across the Middle East, North Africa and Asia.