VISIT ABU DHABI

The RBA said evidence that AI has lifted productivity or caused broad job losses remains limited. It warned disappointing investment returns could trigger sharp asset-price repricing.

Mitsui Chemicals will buy chip-materials maker JSR for 1.84tn yen ($11.61bn), backed by a 200bn-yen DBJ investment. Mitsui plans to fund the deal with bridge loans, debt and a share sale.

Dubai opened the six-lane, 1,650-metre Al Khaleej Street Tunnel with capacity for 12,000 vehicles an hour. The wider corridor is expected to cut journey times to 16 minutes by 2030.

UAE non-oil foreign trade rose 10.1% to AED2.945tn in the first nine months of 2026. Non-oil exports increased 21.6% to a record AED705.8bn.

Russia will send senior diplomats and military officials to trilateral talks with the US and Ukraine in Abu Dhabi. The Tuesday-Wednesday meeting will be the first such talks since February.

Reuters found all 15 environmental groups it surveyed use AI while voicing concern about data-centre emissions and resource use. One wildlife survey cut image analysis from nine months to hours.

Bloomberg reported that SoftBank and ABB are exploring a China carve-out after Beijing blocked their $5.4bn robotics deal. China accounts for about 30% of ABB's robotics business.

Berkshire repurchased $9.6bn of stock in the third quarter and about $2bn more in October. Operating profit fell 6% to $12.71bn as insurance earnings weakened.

Burjeel Medical City administered the Gulf's first Exdensur treatment for chronic sinusitis with nasal polyps. The biologic is designed to control inflammation for up to six months.

Abu Dhabi real estate transactions rose 76.1% to AED171.26bn in the first nine months of 2026. Foreign investment in designated zones increased 131% to AED86.11bn.

Taiwan will close its Papua New Guinea office and halt new spot LNG purchases, blaming Chinese pressure. Its purchases represented about a third of PNG's LNG exports.

Swiss dental company vVardis is seeking up to $228.6m in a US IPO at a $4.37bn valuation. Its flagship non-invasive tooth-decay treatment grew sales 112%.

Permira agreed to buy a majority stake in US home-services platform Flint Group. Sources valued the deal above $1.5bn, with closing expected by end-2026.

Google acquired Crusoe's Wyoming data-centre site after announcing a $17bn investment in the project. The campus will be Google's first data centre in the state.

BYD's Yangwang U9 Xtreme reached 503.17kph on a secured Al Dhafra section of the E11. ADIO and other Abu Dhabi entities supported the record attempt.

DEWA and Acwa signed AED1.76bn agreements for Hassyan desalination phase two. The 60 MIGD project will lift Dubai's total capacity to about 735 MIGD by 2029.

The FDA granted accelerated approval to J&J's Rybrevant Faspro for advanced head and neck cancer. In a 102-patient trial, 42% saw tumours shrink or disappear.

Wendy's rejected a $1.4bn take-private offer led by Trian as undervaluing the chain. Its new rights plan limits investors from crossing a 15% stake.

Kalepa raised $75m in a Series B led by Updata Partners at a $470m valuation. The insurance AI company plans to expand products, markets and headcount.

UAE Verify has issued 42.926 million trusted digital documents since 2022. The blockchain platform now supports 88 document types from 32 government entities.

ADIPEC 2026 recorded more than 50,000 deals worth $67bn, up 26.4% year on year. The Abu Dhabi event drew 240,000 attendees from 170 countries.

Evommune licensed ex-China rights to Hinova’s experimental autoimmune drug EVO570 for $30m upfront and up to $1.1bn in milestones. It plans a mid-stage rheumatoid arthritis study in 2027.

Tencent released Hy4, an AI model trained only on defensive cybersecurity uses and designed to limit cyber and biological risks. The company plans to publish its model weights and safety report.

ADNOC Gas and EtihadWE agreed to explore gas supply for new power capacity in the Northern Emirates. The plan would create new domestic demand while supporting reliable electricity generation.

Emaar Properties plans to offer Dh15 a share for the 21% of Emaar Development it does not own, a deal worth up to $3.43bn. The offer values the construction arm at Dh60bn.

Amgen’s third-quarter sales rose 8% to $10.4bn and adjusted earnings increased 14% to $6.45 a share. It raised its 2026 revenue outlook to $38.9bn to $39.7bn.

Meta is raising $15bn through a five-part US bond sale to fund AI infrastructure. The company expects 2026 capital expenditure of $135bn to $145bn, largely driven by AI.

Lonza agreed to buy five US manufacturing sites from Merck KGaA, lifting its US network to nine locations. The sites add cancer and gene-therapy capabilities and about 1,100 employees.

UBS Investment Bank joined ADX as its second international remote trading member. The arrangement gives UBS clients direct access to Abu Dhabi-listed securities and local trading and settlement.

XRG agreed to buy Shell’s interest in Australia’s North West Shelf LNG project for $1.45bn. Its first Australian LNG investment gives the Abu Dhabi company access to Asia-Pacific demand and existing infrastructure.

Cerus said Intercept-treated red blood cells matched conventional cells for transfusion effectiveness in a late-stage trial. The US system remains experimental and unapproved.

Stonepeak completed its purchase of a 65% Castrol stake from BP, which retains 35%. BP will use $6bn in after-tax proceeds to reduce debt and strengthen its finances.

Abu Dhabi entities signed four OpenAI agreements spanning government, energy and investment. A live pilot is using UAE-based AI infrastructure to assess food-import compliance.

ADIA, Avolon and I Squared launched Constellation Aviation, which plans to buy 22 aircraft worth $1.4bn. The fleet is leased to 17 airlines in 15 countries.

Alpha Dhabi’s nine-month revenue rose 6.1% to AED58.3bn and net profit reached AED12.8bn. Total assets grew 10% to AED236.4bn, with cash and bank balances of AED36.5bn.

OPEC+ kept December output targets unchanged as Gulf exports remain disrupted by the Iran war. The full group will meet on 29 November to decide its 2027 production framework.

HSBC plans to open an AI and emerging technology institute in Hong Kong in early 2027. It is also rolling out AI training to its roughly 200,000 employees worldwide.

Affle agreed to acquire ad-tech company Perion for $11.70 a share, valuing it at about $420m. The price is a 34.5% premium, with completion expected in early 2027.

Dubai RTA’s 2.5-year AI strategy covers 40 products across 11 business areas. It targets over AED300m in annual value and 50% of operations and services moving to agentic AI.

Dubai will add single- and multiple-entry tourist visa applications to Visit Dubai in November. An invitation-only Access Club will offer repeat visitors exclusive services and benefits.

Dubai widened Al Satwa planning rules, allowing mixed-use and denser residential projects. Consolidated plots of at least 1,000sqm may build ground plus eight floors at FAR 3.5.

Iranian negotiators met Qatari mediators in Doha as diplomats sought to prevent renewed US strikes. Qatar proposed a seven-day trust-building plan between Washington and Tehran.

Deaths in Congo’s Ebola outbreak passed 5,000 as infections topped 10,000 across eight provinces. The Bundibugyo strain has no approved vaccine or treatment.

Inovio won its first FDA approval for Voceryq, a DNA immunotherapy for recurrent respiratory papillomatosis. The company expects shipments within 60 days.

Etihad Rail sold 120,000 tickets in its first month linking Abu Dhabi, Dubai, Al Dhaid and Fujairah. Two Al Dhafra stations are due to open on 30 November.

Abu Dhabi’s 2PointZero tripled nine-month net profit to AED8.59bn as revenue reached AED33.7bn. The group held AED15.7bn in cash and AED155bn in assets.

G20 foreign ministers were set to issue only a chairman’s statement as divisions blocked consensus. Disputes over Ukraine, Iran, tariffs and the South China Sea are raising fuel and trade uncertainty.

Sun Pharma’s quarterly revenue rose nearly 12% to Rs161.99bn, while specialty-drug sales grew 6.9% to $356m. A Rs12.69bn one-off charge linked largely to Organon cut reported profit.

Hackers drained $6.3bn from Binance transaction wallets, mostly in 20 minutes. Stablecoin issuers froze about half the assets, while Binance said its protection fund and company resources will cover losses.

Dubai Financial Market’s nine-month traded value rose 22% to AED162bn as average daily value reached AED883m. Its investor base exceeded 1.3m, with overseas investors 72% of new registrations.

Dubai South and Phoenix Aviation will build a wide-body aircraft services centre at MBRAH by Q1 2029. Its 35,000sqm hangar will accommodate three aircraft, adding specialist MRO capacity.

Eli Lilly raised its 2026 revenue forecast by $5bn to $91bn-$92bn as Mounjaro and Zepbound demand drove a quarterly beat. More than 500,000 patients joined its Medicare obesity-drug pilot.

Canada will invest up to C$1.6bn in Cohere’s C$7bn funding round, valuing the AI lab near C$36bn. Cohere plans to fund models, regulated-industry products and computing infrastructure.

Thrive Holdings agreed to take ADT private for $7.6bn in cash, or $10 a share. The offer carries a 35% premium and is expected to close in the first quarter of 2027.

ADI Foundation and Zamanat signed an MoU to explore $150m of tokenised private credit. Initial work covers vessel finance, SME credit, trade receivables and sukuk.

Mubadala-backed Investcorp raised more than $7bn in fiscal 2026 and reached $64bn of assets under management. It aims to secure at least $7bn again this year despite regional disruption.

Geron halted a late-stage Rytelo trial after monitors said it was unlikely to improve overall survival. The setback affects its only commercial drug, although no new safety concerns emerged.

Google launched Gemini 4 Carbon for coding and cybersecurity work. It says the model generates secure code at more than twice Gemini 4 Argon's success rate and will initially serve selected defenders.

GE Vernova agreed to buy high-voltage equipment maker Trench Group for $9bn. The deal adds a $5bn backlog and expands grid capacity as data centres and electrification drive power demand.

ADGM placed crypto mining under its Registration Authority as a licensable commercial activity. The framework sets governance, ownership and blockchain-address disclosures based on operating risk.

ADNOC Drilling reported nine-month revenue of $3.7bn and net profit of $1.07bn. A $350m third-quarter dividend and new Drill-to-Operate strategy broaden its growth and shareholder-return plans.

Exit polls left Benjamin Netanyahu's and Gadi Eisenkot's blocs without a governing majority. The deadlock points to prolonged coalition talks, with smaller parties holding the balance.

Novartis booked $2.2bn in charges after two late-stage drug setbacks. Strong demand for cancer and multiple-sclerosis medicines still allowed it to raise its full-year profit outlook.

Nvidia will invest $3bn in Meta's equity offering as the companies deepen work on Muse AI models and agents. The partnership aims to improve performance, lower costs and strengthen safety tools.

Ares Capital agreed to buy Apollo's MidCap Financial Investment in a $2.6bn cash-and-stock deal. The tie-up expands Ares' direct-lending portfolio to more than 800 companies.

Satellite images show an oil spill from a damaged tanker widening off the UAE. Beach closures across northern emirates highlight growing environmental and maritime-security risks.

Canada and the UAE signed a CEPA expected to enter force in 2027. It will cut or remove tariffs on more than 99% of current Canadian exports and deepen investment ties.

Merck’s sac-TMT cut death risk by 32% in a late-stage endometrial cancer trial, extending median survival to 19 months. The FDA accepted the drug for priority review, with a decision expected by June 2027.

HealthSpan Partners will take Surgery Partners private for $5.7bn including debt, with Bain retaining a major stake. The $23.50-a-share offer carries a 49% premium and is expected to close in early 2027.

Banks and Blackstone lined up $63bn to finance Broadcom AI chips and networking gear for Anthropic. A new vehicle will buy the equipment and lease it to the Claude developer, with deliveries starting in 2027.

An Abu Dhabi investment platform launched an LNG fund targeting a $1.2bn initial close. The ADGM vehicle will pursue energy and infrastructure opportunities in the UAE and selected regional markets.

Apollo will buy nearly 10% of Mubadala Capital, while it and other investors commit $5bn across the unit’s strategies. The transaction is due to close in the fourth quarter.

Brazil’s electoral court declared Luiz Inácio Lula da Silva the winner of a historic fourth presidential term. He beat Flávio Bolsonaro by more than four million votes.

Roche’s divarasib cut the risk of death by 44% versus existing treatments in a late-stage lung cancer trial. Median survival reached nearly 18 months, compared with 12 months in the control group.

SpaceX closed $40bn of callable debt to fund GPU deliveries in the first half of 2027, Elon Musk said. The financing underlines the capital intensity of the AI infrastructure race.

The UAE-Benin trade agreement is expected to lift UAE exports by more than $1bn and Benin’s exports by over $100m by 2033. It liberalises about 97% of current bilateral trade.

ADNOC unveiled more than Dh60bn in UAE manufacturing opportunities through 2030, covering over 200 products and critical spares. Procurement reforms aim to accelerate local investment, jobs and supply-chain resilience.

Western Sydney International Airport opened after a A$5.6bn investment and will operate around the clock. The facility can handle more than 80m passenger movements annually.

Audi plans a $4bn Georgia assembly plant with capacity for 200,000 SUVs a year. The project is expected to create about 4,500 jobs, with production starting in the early 2030s.

Amgen’s Imdelltra combined with AstraZeneca’s Imfinzi cut the risk of death by 58% in a lung-cancer trial. Median survival reached 21.1 months versus 12.7 months with Imfinzi alone.

Moonshot removed cyber-related training data from Kimi K3.1 Pro before releasing its weights. Its internal vulnerability benchmark fell to 81% from 90.5%, while general coding gains were preserved.

MoIAT will present ICV, financing and technology incentives at the Make it with ADNOC Forum. The initiative links procurement demand with investment and manufacturing opportunities under Operation 300bn.

Abu Dhabi’s new private-education Emiratisation policy aims to add more than 2,000 UAE nationals to teaching roles over five years. Five school operators have committed to recruit hundreds of Emirati educators.

Ukraine, Russia and the US agreed to technical-level peace talks in Abu Dhabi in the first half of November, Zelenskiy said. Ukraine is ready to discuss a full ceasefire or narrower energy and maritime deals.

Six-year trial data showed Novartis’s Kisqali cut the risk of death by 19% in high-risk early breast cancer. Survival reached 91.9% with Kisqali and hormone therapy versus 89.7% with hormone therapy alone.

Pathos AI raised $237m at a roughly $3bn valuation alongside a drug-development collaboration with Bristol Myers and Tempus AI. The partners will apply AI and patient data to neurological research.

Inflexion will sell a majority stake in testing and safety group Celnor to Goldman Sachs Alternatives at a reported €1bn valuation. Inflexion will retain a minority stake as Celnor expands in the US and Europe.

Dubai CommerCity and HSITPL will help technology firms expand between Dubai, Hong Kong and mainland China. Support will cover business setup, office space, mentorship and investor access.

DIFC Innovation Hub’s Geospatial Accelerator selected 10 international scale-ups from 73 applications across 24 countries. They will build pilots with UAE entities in maritime safety, insurance and public safety.

France reported the first human case of livestock-borne Shamonda virus in a severely immunocompromised patient who died. The WHO said wider spread is unlikely.

Microsoft’s step-by-step diagnostic AI was more than twice as accurate as general physicians on over 300 complex cases. Researchers will next test it for emergency-room triage.

LSEG agreed to buy credit-data firm Octus for $3.54bn, its biggest acquisition in seven years. The debt-funded deal adds private-market data as AI pressures its core business.

ADCB’s nine-month net profit rose 27% to Dh10.296bn, while operating income gained 10% to Dh18.306bn. Assets reached Dh890bn and net customer loans increased 18%.

The UAE and Greece signed 18 agreements and partnerships worth €12.75bn. Abu Dhabi also plans a further €15bn of investment in Greece, adding to €4bn committed in 2022.

The US ordered non-emergency staff and families to leave Saudi missions after Houthi attacks. Strikes killed one person at Dammam airport and two at an oilfield.

The FDA granted accelerated approval to AstraZeneca’s Ultomiris for adults with IgA nephropathy. The drug reduced excess urine protein by 43.4% versus placebo after 34 weeks.

Critical PHP vulnerabilities found with AI forced government websites offline as agencies urged urgent patching. About 1.5m of 2.6m detected hosts run versions without a fix.

EQT agreed to buy molecular-testing company Qiagen for €9.6bn ($10.78bn). ADIA and CPPIB affiliates are participating, and the deal is expected to close in mid-2027.

DEWA achieved 75% of its targets across 21 services within three months, including 16 powered by AI. It is working to reach 100% of the targets over the next three months.

Abu Dhabi plans more than Dh300bn of investment in water and power infrastructure through 2035. It aims for clean sources to provide 60% of electricity generation by then.