Happy Thursday everyone!

The UAE’s non-oil foreign trade surged to AED 1.7 trillion in H1 2025—up 24% year-on-year—far outpacing global trade growth of just 1.75%. At DXB, passengers may soon keep laptops and liquids in bags as AI-powered security systems are trialled to speed up checks, according to CEO Paul Griffiths. Meanwhile, AI firm Anthropic is in talks to raise up to $5B at a $170B valuation, with CEO Dario Amodei confirming a strategic pivot toward accepting Gulf investment despite earlier ethical concerns.

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UAE Non-Oil Trade Hits AED 1.7 Trillion, Outpacing Global Growth By Wide Margin

🔹 What Is It About

The UAE’s non-oil foreign trade surged to AED 1.7 trillion in the first half of 2025—a 24% jump from the same period last year. This growth significantly outpaces the global trade average of 1.75%. Notably, trade with Switzerland rose 120%, followed by India (33%), Turkey (41%), the US (29%), and China (15%).

🔹 Why It Matters

The record figures reflect the UAE’s expanding global trade partnerships and its strategic shift away from oil dependency. With non-oil trade doubling over five years, the nation underscores its role as a key player in global commerce, supported by strong economic leadership.

🔹 What’s Next

Sheikh Mohammed bin Rashid hailed the results as a sign of the UAE’s accelerating development under President Sheikh Mohammed bin Zayed. With momentum building, the country is positioning itself for a “more beautiful and greater” economic future, grounded in robust international ties.

Markets

Soon, No More Laptop Or Liquid Removals At DXB Thanks To AI, Says CEO

🔹 What Is It About

Dubai International Airport (DXB) is trialling cutting-edge security technology that could soon allow passengers to keep laptops and liquids over 100ml inside their hand luggage at checkpoints. Paul Griffiths, CEO of Dubai Airports, was quoted Gulf News as saying that the new AI-powered systems are already being installed in both hold and passenger baggage screening areas. “We are already installing new machinery… which means that laptops and liquids can stay in bags,” he said.

🔹 Why It Matters

With DXB seeing record passenger numbers—46 million in the first half of 2025—efficiency is a top priority. Griffiths noted the AI will “profile some of the things that are in customer luggage” to make security checks even faster. He added, “AI making that decision… will be quicker, faster, more reliable, and, of course, doesn’t need to take holidays or a break.” The move mirrors similar upgrades at top European hubs and could drastically cut queue times.

🔹 What’s Next

The rollout will depend on trial results and machine deliveries, but Griffiths said the trials so far have been “very successful,” delivering “a much quicker and more reliable service.” As DXB targets 96 million passengers this year and eyes the 100 million mark by 2026, AI integration is expected to redefine passenger flow and experience. A full shift to the new terminal in Dubai South is also on the horizon, further enabling the use of such next-gen systems.

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Anthropic Eyes $5B Raise At $170B Valuation After CEO Acknowledges Gulf Investment Shift

🔹 What Is It About

Anthropic, the AI start-up founded by former OpenAI employees, is in advanced talks to raise up to $5 billion in a funding round led by Iconiq Capital, valuing the company at a staggering $170 billion — nearly triple its $61.5 billion valuation from just four months ago, both Bloomberg and FT reported separately. The round may include sovereign wealth funds from the Gulf and Asia, such as the Qatar Investment Authority (source told Bloomberg), Abu Dhabi’s MGX (FT reported), and Singapore’s GIC. Amazon and Lightspeed, existing investors, are also in discussions to participate.

🔹 Why It Matters

This marks a strategic pivot for Anthropic, which previously avoided funding from the Middle East over ethical concerns. In a recent memo to staff, CEO Dario Amodei acknowledged the shift, writing: “Unfortunately, I think ‘no bad person should ever benefit from our success’ is a pretty difficult principle to run a business on.” He also admitted that while such investments may “enrich dictators,” rejecting them outright could limit growth. The company’s annual recurring revenue has soared from $4B to $5B in July and may hit $9B by year-end, underlining the urgency for expansion funding.

🔹 What’s Next

If finalized, this round would make Anthropic the world’s third most valuable private tech company — behind only OpenAI ($300B) and SpaceX ($400B). It also signals a new chapter in AI capital flows, with leading start-ups increasingly reliant on sovereign wealth from outside Silicon Valley to fund compute-heavy large language model development. Iconiq is expected to contribute around $1 billion, with Anthropic reportedly requiring a minimum $200 million commitment per investor. A second lead investor may also be added as discussions continue.

👨‍💻From Smashi Business’ Desk

• Dreamers: From selling his car to pay salaries to leading a $10.9B real estate empire—Muhammad BinGhatti’s journey is one of bold vision and resilience.

• Dubai-born wellness brand Humantra has officially landed in over 1,200 Boots stores across the UK.

• Tabby founder, Palestinian entrepreneur Hosam Arab, speaks out on LinkedIn, condemning the starvation crisis in Gaza and calling for an end to the siege.

• Smashi Business Exclusive: House of Pops Eyes European Expansion

• From inventing Dubai Chocolate to sharing his journey from Burj Al Arab to TEDx, Chef Noel Catiz joined the Lovin Dubai Show to talk desserts, ideas, and his deep love for Kanafa Nabulsi

🔍In other news…

• UAE introduces advertiser permit to enhance quality, transparency in digital advertising practices 

• Slot machine suppliers line up for Wynn’s UAE casino

• Mena economy to expand more than expected, IMF says

• Alabbar-led Americana earnings climb despite higher tax burden

• UAE’s Space42 Signs Agreement With Microsoft And Esri For Africa's Mapping Initiative

• The Dubai Land Department is launching an accelerator programme targeted at proptech startups, which will offer up to $250,000 as seed capital

🏦Crypto Corner

• Michael Saylor — Executive Chairman of MicroStrategy and one of Bitcoin’s most vocal corporate advocates — will make his first-ever appearance in the UAE at Bitcoin MENA in Abu Dhabi.

• Hut 8, part of a American BTC which is partially owned by Donald Trump Jr. and Eric Trump, Gets Approval to Operate in Dubai Financial Hub

• Abu Dhabi Judicial Department now accept AE Coin

Follow Smashi Crypto to find out what’s news in the world of digital assets.

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