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UAE Launches ‘Markets of Tomorrow’ Initiative

The UAE government announced the signing of an agreement with WEF in the development of applications of the Fourth Industrial Revolution. (Asharq Al-Awsat)
The UAE government announced the signing of an agreement with WEF in the development of applications of the Fourth Industrial Revolution. (Asharq Al-Awsat)
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UAE Launches ‘Markets of Tomorrow’ Initiative

The UAE government announced the signing of an agreement with WEF in the development of applications of the Fourth Industrial Revolution. (Asharq Al-Awsat)
The UAE government announced the signing of an agreement with WEF in the development of applications of the Fourth Industrial Revolution. (Asharq Al-Awsat)

The UAE government has launched the "Markets of Tomorrow" initiative, in partnership with the World Economic Forum (WEF).

The initiative aims to develop new business accelerators that will prepare the UAE's national economy to embrace business activities focused on the new economy and boost its readiness to enter tomorrow's markets, utilizing the latest technological means.

The launch of the initiative is part of a comprehensive strategic partnership agreement between the UAE Ministry of Economy and WEF's New Economy and Society Center.

The UAE government also announced the signing of an agreement with WEF in the development of applications of the Fourth Industrial Revolution.

The deal was signed in the presence of Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, Deputy Managing Director of Dubai Future Foundation, Jeremy Jurgens, Managing Director & Head of the Forum's Center for the Fourth Industrial Revolution, and Sebastian Buckup, Head of Network and Partnerships, Member of the Executive Committee, WEF.

Al Olama stressed that the strategic partnership between the UAE government and WEF aims to serve communities by employing artificial intelligence, blockchain and various technologies of the future, and sharing innovative experiences and practices to provide supportive environments for the development of new ideas and projects that accelerate the process of scientific, technological, and cognitive progress.

Khalfan Belhoul, CEO of Dubai Future Foundation, said that the Center for the Fourth Industrial Revolution shapes new policies and strategies in areas such as artificial intelligence, blockchain and digital assets, among others.

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Business

LEAP 2026: Saudi Arabia Leads AI Era with Over $15 Bn in Technology Launches, Investments

LEAP 2026 kicks off in Riyadh on Monday under the theme "Into New Worlds." (SPA)
LEAP 2026 kicks off in Riyadh on Monday under the theme "Into New Worlds." (SPA)
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LEAP 2026: Saudi Arabia Leads AI Era with Over $15 Bn in Technology Launches, Investments

LEAP 2026 kicks off in Riyadh on Monday under the theme "Into New Worlds." (SPA)
LEAP 2026 kicks off in Riyadh on Monday under the theme "Into New Worlds." (SPA)

LEAP 2026, the fifth edition of the world's largest tech event, kicked off in Riyadh on Monday under the theme "Into New Worlds," bringing together leading technology and artificial intelligence (AI) figures, investors, and innovators from around the world.

The conference saw the announcement of major launches, investments, and partnerships worth more than $15 billion in AI and advanced technologies, strengthening Saudi Arabia's leadership in digital infrastructure and advanced computing and reinforcing its position as a global destination for technology investment in the intelligent era.

Saudi Minister of Communications and Information Technology Abdullah Alswaha said in his opening speech that the launches and investments were made possible through the support and empowerment of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister.

Saudi Arabia is steadily advancing toward leading the AI era in partnership with major companies, innovators, and investors from around the world, he added.

Alswaha stressed that Saudi Arabia has established a global model for turning technological ambitions and commitments into tangible achievements, underpinned by agility, reliability, and speed of execution.

Technology and national talent, particularly young people, are driving the Kingdom's progress, he went on to say.

The launches and investments are contributing to the development of an integrated AI ecosystem spanning energy, connectivity, semiconductors, data centers, accelerated computing, AI models, cloud services, and sector-specific applications, supporting the growth of the digital economy and enhancing its global competitiveness.

The conference is organized by the Ministry of Communications and Information Technology, the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP), and Tahaluf, a joint venture between SAFCSP, global events company Informa, and the Events Investment Fund.

LEAP 2026 will run until September 3 at the Riyadh Exhibition and Convention Center in Malham, featuring more than 1,000 speakers, 1,900 investors, 1,800 global technology brands, and 600 startups across 16 stages and more than 20 tracks exploring the future of AI, cloud computing, cybersecurity, smart cities, fintech, healthcare, space, gaming, and mobility.

Business

Saudi-Jordanian Business Council Recommends Boosting Economic Cooperation

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT
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Saudi-Jordanian Business Council Recommends Boosting Economic Cooperation

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT

Meetings of the Joint Saudi-Jordanian Business Council were held in Jordan’s capital, Amman, to strengthen bilateral partnerships, promote joint projects, and address obstacles to trade and investment flows, SPA reported.

The council’s sectoral committees recommended a package of practical measures and initiatives to strengthen economic and investment cooperation, boost bilateral trade, and facilitate the movement of investors, businesspeople, and goods between the two countries.

Business

Japan Seeks Record $55.6 bln Defense Budget, with AI Focus, Says Ministry

This photo shows an exterior view of the Defense Ministry of Japan with its sign at the main entrance in Tokyo on Sept. 17, 2021. (AP Photo/Hiro Komae, File)
This photo shows an exterior view of the Defense Ministry of Japan with its sign at the main entrance in Tokyo on Sept. 17, 2021. (AP Photo/Hiro Komae, File)
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Japan Seeks Record $55.6 bln Defense Budget, with AI Focus, Says Ministry

This photo shows an exterior view of the Defense Ministry of Japan with its sign at the main entrance in Tokyo on Sept. 17, 2021. (AP Photo/Hiro Komae, File)
This photo shows an exterior view of the Defense Ministry of Japan with its sign at the main entrance in Tokyo on Sept. 17, 2021. (AP Photo/Hiro Komae, File)

Japan's defense ministry requested a record budget of 8.9 trillion yen ($55.6 billion) on Monday as Tokyo looks to artificial intelligence to speed up decision-making in the face of a tense security environment.

But the final budget reportedly could reach 10 trillion yen as Tokyo undergoes a sweeping upgrade of its defense in order to navigate growing tension with neighbors such as China, North Korea and Russia.