Marhaba folks! 🌟

Hope you're having a great day! In today's edition, we're covering:

• 🤖🌍 UAE President Discusses AI Strategy with Microsoft, BlackRock, and Nvidia CEOs in Washington 💡

• 💼🌍 Richest African Aliko Dangote to Establish Family Office in Dubai Amid Rising UAE Appeal 🏙️

• 🚖🤖 WeRide and Uber Partner to Bring Autonomous Vehicles to UAE Roads 🇦🇪

Let's dive in! 👇

🤖🌍 UAE President Discusses AI Strategy with Microsoft, BlackRock, and Nvidia CEOs in Washington 💡

📰 What is it about?

• UAE President Sheikh Mohamed met with Satya Nadella (Microsoft), Larry Fink (BlackRock), and Jensen Huang (Nvidia) to discuss advancements in AI and modern technology.

• The discussions focused on opportunities for UAE-US collaboration in AI, emphasizing recent partnerships like G42 and Microsoft, and the Global AI Infrastructure Investment Partnership involving Microsoft, BlackRock, and UAE-based MGX.

💡 Why it matters?

• The UAE’s commitment to AI is critical for boosting national development and creating economic opportunitiesglobally.

• By fostering international partnerships with tech giants, the UAE is positioning itself as a global leader in AI innovation and responsible tech use.

• These collaborations, particularly with firms like BlackRock and Nvidia, enhance global investment in AI and advanced technology, supporting economic growth and prosperity.

🔜 What’s next?

• Continued collaborations between the UAE and top tech firms like Microsoft, Nvidia, and BlackRock will accelerate AI development.

• UAE will strengthen its AI infrastructure to support its ambitions of becoming a global tech hub.

• Potential for further investments and new strategic partnerships aimed at global AI innovation and responsible tech deployment.

📈 Markets

💼🌍 Richest African Aliko Dangote to Establish Family Office in Dubai Amid Rising UAE Appeal 🏙️

📰 What is it about?

• Aliko Dangote, Africa’s wealthiest individual with a fortune of $13.2 billion, announced plans to open a family officein Dubai.

• The office will focus on global investments and portfolio diversification beyond his industrial empire, Dangote Industries, which spans cement, sugar, salt, and oil refining.

• His daughter Halima moved to Dubai last month to oversee the family office, based in their long-standing Dubai premises.

💡 Why it matters?

• Dubai has become a hotspot for high-net-worth individuals due to its favorable tax regime, strategic location, and attractive financial environment.

• The decision reflects the challenges African billionaires face, such as the weakening Nigerian naira, which has depreciated over 50% in the last year.

• This move signals the growing importance of family offices in Dubai as a hub for global investments and co-investment opportunities.

🔜 What’s next?

• Dangote’s family office will look for co-investment opportunities with other families or institutions offering specialized expertise.

• Dubai is expected to see continued growth in family offices and high-net-worth individuals relocating, solidifying its position as a global wealth hub.

• This trend could inspire more African billionaires to diversify their assets and move operations to regions like the Middle East.

Quote of the day
“If you believe it will work, you'll see opportunities. If you believe it won't, you will see obstacles.” - American author and motivational speaker Wayne Dyer

🚖🤖 WeRide and Uber Partner to Bring Autonomous Vehicles to UAE Roads 🇦🇪

📰 What is it about?

• WeRide and Uber have formed a strategic partnership to integrate autonomous vehicles into the Uber platform in the UAE.

• The first phase of the collaboration will launch in Abu Dhabi later this year, allowing users to request a WeRide Robotaxi via the Uber app.

• WeRide already operates the UAE's largest robotaxi fleet through its TXAI app and holds the country’s only national license for self-driving vehicle testing and operations.

💡 Why it matters?

• This partnership is a major milestone in the adoption of self-driving technology, moving the UAE closer to becoming a global leader in future mobility.

• By integrating autonomous vehicles with Uber's vast platform, it opens the door to mainstream access to hassle-free, driverless rides in urban areas.

• The initiative aligns with the UAE’s ambitious goals to advance AI-driven solutions and transform public transportation.

🔜 What’s next?

• The service will launch in Abu Dhabi later this year, with the potential to expand across the UAE.

• As autonomous vehicles become more widely available, it could reshape urban transportation and set the stage for future innovations in driverless technology across the region.

In other news…

1. In a policy reversal, Telegram to share user data of criminals for investigation.

2. Ever dreamed of traveling to space? Saudi Arabia will host a test flight of HALO Space's stratospheric balloon soon.

3. Israel sent evacuation warning via hacked calls to resident in Beirut and other parts of Lebanon.

The Latest from the Smashi Business Studio

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