Latest news with #WorldGovernmentsSummit2025
Daily Tribune
12-06-2025
- Business
- Daily Tribune
Pakistan PM Shehbaz Sharif Arrives in UAE for Official Visit
Pakistan's Prime Minister Muhammad Shehbaz Sharif arrived in the United Arab Emirates on Thursday for a one-day official visit. He was received at Abu Dhabi's Al Bateen Airport by Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and National Security Adviser. The visit comes at the invitation of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and is aimed at further strengthening bilateral relations between the two nations. Sharif is accompanied by several senior officials, including Deputy Prime Minister and Foreign Minister Ishaq Dar. This marks the Prime Minister's second visit to the UAE this year, following his participation in the World Governments Summit 2025 in Dubai earlier in February. The agenda for the current visit is expected to include discussions on regional and international developments, as well as enhanced cooperation in trade, investment, and energy. The UAE and Pakistan share strong diplomatic, economic, and cultural ties, with regular high-level exchanges reinforcing their longstanding relationship.
Gulf Today
02-06-2025
- Business
- Gulf Today
PCFC and Ghana to establish economic zone, digital incubator
The Ports, Customs and Free Zone Corporation (PCFC) and Government of Ghana have signed a landmark Memorandum of Understanding (MoU) to establish Ghana's first economic zone and digital incubator in Accra. The initiative aims to accelerate the country's transformation into a regional technology powerhouse, attracting investment into West Africa. The MoU was signed by Sultan Ahmed Bin Sulayem, Chairman of PCFC, and Samuel Nartey George, Ghana's Minister for Communication, Digital Technology and Innovation. Under the agreement, a 25 square kilometre area in Accra will be allocated to PCFC for the development of the economic zone. PCFC will lead the zone's operations and attract global technology firms, facilitating investment and business expansion. The MoU also includes joint efforts to establish digital infrastructure and property development within the zone. Sultan Ahmed Bin Sulayem affirmed that PCFC's commitment to supporting the UAE's global outreach and sharing Dubai's pioneering experience in innovation and economic development. 'This initiative underscores our strategic relationships worldwide and reinforces PCFC's role as a key contributor to Dubai's knowledge and innovation-based economy. We are focused on launching cutting-edge projects that promote sustainable growth, invest in human capital and advanced technology, to cement Dubai's status as a global hub for smart technologies and digital transformation.'' He also expressed his appreciation for the Government of Ghana's trust in PCFC's expertise and its warm reception of the initiative. 'This smart economic zone, combining innovation, technology, and logistics, will foster commercial growth and strengthen Ghana's industrial and technological infrastructure.'' Samuel Nartey George stated that the partnership will significantly bolster Ghana's economic position, transforming it into a regional technology hub in Africa. 'This initiative aligns with Ghana's vision for digital transformation and sustainable economic growth. The zone will play a pivotal role in attracting global businesses and talent, positioning Accra as a destination of choice on the international stage.' In February, The Ports, Customs and Free Zone Corporation, and Cordiant Capital, a global investor in infrastructure and real assets, signed a Memorandum of Understanding (MoU) to advance their strategic collaboration to strengthen Dubai's agriculture value chain and bolster its food security initiatives. Under the terms of the MoU, both parties will work together to explore opportunities to optimise end-to-end agricultural value chains from origin-producing countries to Dubai through infrastructure investments, strategic trade corridors, and supply chain solutions. The MoU was signed by Sultan Ahmed Bin Sulayem, Chairman of the Ports, Customs and Free Zone Corporation and Cédric Garnier-Landurie, Partner and Head of Agriculture Value Chain at Cordiant Capital, in a ceremony held at the World Governments Summit 2025 in Dubai. This partnership reinforces PCFC's commitment to developing innovative logistics and supply chain solutions aligned with Dubai's long-term vision for sustainable food security. The collaboration between PCFC and Cordiant Capital paves the way for the two parties to cooperate in: Building Next-Generation Cold Chain Networks: Implementing advanced cold-chain logistics systems that will maintain optimal freshness from farm to table, dramatically reducing food waste while ensuring consistent quality of perishable goods. Enhancing Dubai's Position as a Fresh Food Hub: Supporting Dubai's goal of becoming a global hub for fresh food distribution by leveraging PCFC's logistical capabilities and Cordiant's investment expertise in agriculture supply chains. Strategic Trade Corridors: Strengthening efficient, digitally enabled trade routes that optimize the movement of agricultural products while reducing transportation costs and environmental impact. Advancing National Food Security: Supporting Dubai's vision of becoming a leader in food security by investing in sustainable agricultural practices and cutting-edge supply chain solutions. Technology and Innovation: Deploying advanced technologies including IoT sensors, AI-powered analytics, and blockchain-enabled tracking systems to create unprecedented visibility and efficiency across the entire supply chain. These initiatives will support Dubai's ambitious food security strategy, which aims to enhance the emirate's agricultural self-sufficiency and diversify its food sources. The partnership leverages PCFC's unparalleled logistics expertise and Cordiant Capital's agricultural and infrastructure investment expertise to support fresh food supply chains in key markets. WAM
Express Tribune
22-02-2025
- Business
- Express Tribune
Pakistan, UAE DPMs discuss trade, defence
Deputy Prime Minister and Foreign Minister Senator Ishaq Dar held a bilateral meeting with his UAE counterpart Sheikh Abdullah bin Zayed Al Nahyan wherein they engaged in comprehensive discussions to further strengthen the longstanding bilateral fraternal ties. In the meeting held in Abu Dhabi at the invitation of the UAE deputy prime minister and foreign minister, the two sides explored avenues to enhance bilateral cooperation across key sectors, including trade, investment, energy, defense, and people-to-people connections, a Foreign Office press release said Saturday. The two leaders also exchanged views on regional and global developments of mutual interest, underscoring the importance of promoting peace, stability, and shared prosperity. Dar congratulated the UAE leadership on the successful organization of the World Governments Summit 2025, in Dubai from February 11-13, 2025, and commended the UAE's visionary initiatives in fostering global dialogue and cooperation. He reaffirmed Pakistan's commitment to deepening its multifaceted partnership with the UAE and highlighted the pivotal role of the Pakistani diaspora in the UAE, describing them as a bridge between the two nations. Senator Dar also expressed gratitude for the UAE's consistent support for Pakistan's economic development and progress. In response, Sheikh Abdullah bin Zayed Al Nahyan reiterated the UAE's steadfast commitment to strengthening its strategic relationship with Pakistan. He acknowledged Pakistan's significant contributions to regional stability and expressed appreciation for the positive role played by the Pakistani community in the UAE's development. The two leaders agreed to maintain a regular high-level engagements and consultations to further solidify bilateral ties and coordinate on regional and international issues of mutual concern. The meeting concluded on a positive note, with both dignitaries expressing optimism about the future of Pakistan-UAE relations and their shared vision for a prosperous, peaceful, and stable region.
USA Today
20-02-2025
- Business
- USA Today
Alibaba plans major AI investment as revenues rebound in third quarter
Alibaba plans major AI investment as revenues rebound in third quarter Show Caption Hide Caption Apple will use Alibaba AI tech in iPhones Apple Inc.'s iPhones will use Alibaba Group Holding Ltd.'s AI technology, the Chinese firm's chairman said, affirming reports the e-commerce pioneer had scored a coveted role in helping power the iPhone in the world's top mobile arena. Chairman and Co-founder Joe Tsai confirmed this during a panel at the World Governments Summit 2025 in Dubai. Bloomberg Alibaba on Thursday flagged plans to invest more in its "core businesses" of e-commerce and AI-powered cloud computing after reporting third-quarter revenues just above analysts' estimates on strong year-end sales. U.S.-listed shares of the company BABA.N were up 11% in early morning trading. Chief executive Eddie Wu, speaking to analysts, said AI was "the kind of opportunity for industry transformation that only comes around only once every few decades." He said Alibaba would invest more in AI and cloud computing over the next three years than it had in the past decade but did not put an exact figure on the investment amount. The company's revenue was 280.15 billion yuan ($38.58 billion) for the three months ended December 31, compared with 279.34 billion yuan expected by 17 analysts polled by LSEG. Chinese retailers such as Alibaba have cut prices and intensified promotional offers to revitalise consumer spending and drive sales at their core domestic e-commerce businesses. Healthy demand from international markets and increased spending by customers towards the year-end helped the company boost sales. China's annual Singles' Day sales event, a nationwide shopping festival in October and November, often viewed as a consumer sentiment barometer, ran longer than usual and led to a 26.6% rise in sales in major e-commerce platforms, according to data provider Syntun. Alibaba's domestic e-commerce business Taobao and Tmall Group produced revenue growth of 5% for the quarter and company executives said the division would continue to focus on market share stabilisation in the near future. 'AI juggernaut' Alibaba has kicked off 2025 as a winner in China's AI race, drawing in investors with strategic business deals. Its share price has risen more than 40% since the beginning of the year. "When it comes to Alibaba's AI strategy ... we aim to continue to develop models that extend the boundaries of intelligence," Wu said, adding that AI could eventually "have significant influence on or even replace 50% of global GDP". The inclusion of Alibaba co-founder Jack Ma in a meeting of private enterprise leaders chaired by China's President Xi Jinping this month, and photos of Ma shaking hands with Xi, has further raised investor confidence in Alibaba. "Alibaba has bagged a seat on the AI juggernaut and is now reaping rewards ... it's what is going on under the bonnet in terms of AI which is really moving the dial," said Susannah Streeter, head of money and markets at Hargreaves Lansdown. "Alibaba has carved out a significant niche in the rapidly expanding world of cloud computing, providing the backbone for AI operations," she added. Alibaba said it is teaming up with Apple to power iPhones sold in China with its AI solutions, solidifying its foothold in a market where homegrown rival DeepSeek is making waves with cost-effective models. Alibaba unveiled an upgraded version of its Qwen 2.5 AI model in late January, saying it outperforms DeepSeek-V3. Alibaba's Cloud Intelligence Unit's revenue grew 13%. The company's international e-commerce business, which includes cross-border player AliExpress, wholesale B2B site and other regional platforms, remained one of its fastest growing, with 32% revenue growth in the quarter. Alibaba last November announced the integration of its domestic Chinese and international e-commerce platforms into a single business unit, the Alibaba E-commerce Business Group, bringing together the Taobao and Tmall Group and the Alibaba International Digital Commerce Group. In further steps to streamline its focus on core businesses e-commerce and cloud, Alibaba in recent months has shed assets, including offloading department store chain in time for a $1.3 billion loss in December. ($1 = 7.2613 Chinese yuan renminbi) Reporting by Harshita Mary Varghese in Bengaluru and Casey Hall in Shanghai; Editing by Arun Koyyur and Jane Merriman
Zawya
20-02-2025
- Business
- Zawya
Visa and ADIB sign MoU at World Governments Summit 2025
The agreement seeks to establish a cooperation framework for Visa's Advanced Cybersecurity Capabilities, supporting ADIB's digital security strategy and reinforcing UAE's position as a global incubator for cybersecurity innovation. Dubai, UAE – Visa (NYSE: V), a global leader in digital payments, signed a Memorandum of Understanding (MoU) with Abu Dhabi Islamic Bank (ADIB) to collaborate on an enhanced threat intelligence solution and integrate its advanced cybersecurity capabilities with digital payments. This strategic partnership aims to bolster ADIB's cybersecurity architecture, enhancing security for ADIB cardholders' payments and transactions in the UAE. The MoU was signed at the World Governments Summit 2025, marking a significant step in fortifying the region's digital payment security framework. The agreement establishes a framework for ADIB's participation in Visa's Advanced Cybersecurity capabilities, leveraging AI-driven fraud prevention tools and real-time risk assessment technologies to enhance payment security and combat emerging threats. The agreement was officially signed by Mohamed Abdelbary, Group Chief Executive Officer at ADIB, and Dr. Saeeda Jaffar, Visa's Senior Vice President and Group Country Manager in the GCC region, marking a pivotal moment in the partnership. "As the cyber threat landscape continues to evolve alongside the rapid digitalization of financial services, we are committed to strengthening the security of the UAE's payments ecosystem,' said Dr. Saeeda Jaffar, Visa's Senior Vice President and Group Country Manager in the GCC region. 'At Visa, we continue to strategically invest in emerging technologies to help our partners build future-forward risk management strategies that speak to today's biggest challenges and opportunities. This agreement marks a major milestone in our efforts, and we are excited to collaborate with ADIB to pilot Visa cybersecurity solutions and reinforce the UAE's position as a global leader in cybersecurity innovation.' Mohamed Abdelbary, Group Chief Executive Officer at ADIB, added: "As we move forward with our 2035 vision with a focus on building a future ready bank, ensuring the highest standards of cybersecurity remains a top priority for ADIB. Our partnership with Visa reflects our proactive approach in integrating advanced cybersecurity technologies to safeguard our customers and deliver secure, seamless, and Sharia-compliant digital banking experiences. By enhancing our fraud prevention capabilities, this collaboration strengthens ADIB's commitment to protecting digital transactions while contributing to the UAE's vision of becoming a global leader in cybersecurity innovation.' Visa has been at the forefront of cybersecurity solutions, offering AI-powered risk detection and prevention services including Visa Advanced Authorization and Visa Risk Manager. The payment technology leader's authentication and transaction risk solutions help acquirers and merchants minimize fraud. As threats expand beyond payment transactions to target identities and information, Visa has launched a suite of solutions to safeguard credentials and information, protecting global money movement. This collaboration between Visa and ADIB underscores a shared commitment to driving innovation in payment security, ensuring the safety and integrity of digital transactions while supporting the UAE's vision of becoming a global leader in cybersecurity and financial technology. About Visa Inc. Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at About Visa, and @VisaCEMEA. Media Contact Anna Shulga Corporate Communications, GCC, Visa ashulga@ About ADIB ADIB is a leading bank in the UAE with AED 226 billion in assets. The bank also offers world-class online, mobile and phone banking services, providing clients with seamless digital access to their accounts 24 hours a day. ADIB provides Retail, Corporate, Business, Private Banking and Wealth Management Solutions. The bank was established in 1997, and its shares are traded on the Abu Dhabi Securities Exchange (ADX). ADIB has a strong presence in five strategic markets: Egypt, where it has 70 branches, the Kingdom of Saudi Arabia, the United Kingdom, Qatar, and Iraq. Named World's Best Islamic Bank by The Financial Times - The Banker publication, ADIB has a rich track record of innovation, including introducing the award-winning Ghina savings account, award-winning co-branded cards with Emirates airlines, Etihad and Etisalat and a wide range of financing products For media information, please visit or contact: ADIB Edelman Lamia Khaled Hariz Simon Hailes Head of Public Affairs Director of Financial Communications
