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- Dubai’s Driverless Taxi Deal; UAE’s AI Regulation Push; and Saudi’s $2.1 Trillion Corporate Surge
Dubai’s Driverless Taxi Deal; UAE’s AI Regulation Push; and Saudi’s $2.1 Trillion Corporate Surge
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Monday, July 7, 2025
Happy Monday everyone!
From driverless taxis to AI regulation and trillion-dollar valuations, the MENA region is making bold moves on the global stage. Dubai has partnered with China’s Pony.ai to begin autonomous taxi trials, eyeing a full rollout by 2026. Meanwhile, the UAE and World Economic Forum have launched a global platform to reshape how governments regulate emerging tech like AI. Over in Saudi Arabia, the Kingdom’s top 10 listed firms have hit a combined $2.1 trillion valuation, led by Aramco’s continued global expansion. Today’s roundup spotlights how the region is blending innovation, regulation, and capital to shape the future economy.
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Dubai Strikes Deal With Pony.ai To Launch Autonomous Taxi Trials, Targets 2026 Rollout
🔹 What Is It About
Dubai’s Roads and Transport Authority (RTA) has partnered with Chinese autonomous vehicle firm Pony.ai to begin driverless taxi trials by the end of 2025. A commercial launch is planned for 2026, aligning with Dubai’s goal to automate 25% of all transport by 2030. The agreement was signed by RTA and Pony.ai executives in the presence of top officials, marking a key milestone in the city’s autonomous transport roadmap.
🔹 Why It Matters
The partnership reinforces Dubai’s ambitions to lead in smart mobility, enhance road safety, and improve public transport connectivity. RTA chief Mattar Al Tayer said autonomous taxis will elevate quality of life and reduce traffic risks. Pony.ai, which has logged over 25 million kilometers of autonomous driving globally, brings Level 4 self-driving technology—capable of operating without human input in defined areas—to the emirate.
🔹 What’s Next
Pilot details, including routes and fleet size, remain undisclosed, but the RTA says trials will begin by year-end. This collaboration joins previous Dubai trials with Cruise and Volocopter, as well as UAE-wide autonomous initiatives in aviation, defence, and logistics. As software and hardware evolve, Dubai is positioning itself as a global testbed for sustainable, tech-enabled urban mobility.
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EGX 30 | 32,913.73 | +0.28% |
DFMGI | 5,753.27 | Closed |
ADX | 9,981.50 | Closed |
Tadawul | 11,315.73 | +0.63% |
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UAE And World Economic Forum Launch Global Platform To Rethink AI Regulation
🔹 What Is It About
The UAE and World Economic Forum have launched the Global Regulatory Innovation Platform (Grip) to help governments worldwide keep pace with emerging technologies like AI. Announced in Geneva, Grip aims to design agile regulatory tools for the “Intelligent Age” by bringing together policymakers, tech experts, and industry leaders.
🔹 Why It Matters
As AI, biotech, and digital finance rapidly evolve, traditional regulatory models are becoming outdated. Grip’s mission is to bridge the widening gap between innovation and governance. UAE Minister Maryam Al Hammadi said future-ready regulation is essential for quality of life and economic sustainability.
🔹 What’s Next
Over the next two years, Grip will produce a global regulatory playbook, a readiness index for nations, and a sandbox hub for testing frameworks. Backed by the UAE’s AI-first agenda and supported by BCG, the platform cements the country’s leadership in tech governance and its role in shaping global regulatory norms.
Saudi’s Top 10 Listed Firms Reach $2.1 Trillion Valuation, Led By Aramco’s Dominance
🔹 What Is It About
Saudi Arabia’s 10 largest publicly listed companies have reached a combined market capitalization of $2.1 trillion, according to Forbes Middle East. Topping the list is Saudi Aramco, valued at $1.7 trillion. The ranking spans energy, banking, telecom, industrials, and utilities—sectors that generated $133.9 billion in net profits in 2024, reflecting the strength of the Kingdom’s capital markets and diversified economic growth.
🔹 Why It Matters
The milestone underscores the Tadawul’s status as the world’s fastest-growing stock exchange in 2024, with listings doubling and liquidity rising 40%. Aramco's global expansion and record earnings anchor the list, while five banking giants show strong profit growth and digital ambitions. This elite group illustrates Saudi Arabia’s economic transformation under Vision 2030, with major moves in fintech, energy, mining, and capital markets.
🔹 What’s Next
These companies are expanding their global footprints through sukuks, international deals, and strategic investments. Aramco is deepening ties with the U.S. and China, while banks like Al Rajhi and SNB scale digital services. Industrial players such as Maaden and SABIC are powering non-oil exports. As reforms continue, the Saudi corporate landscape is set for even greater influence on global capital flows.
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