Alibaba Chairman Joe Tsai said that the Chinese tech company will partner with Apple on AI for iPhones sold in the China market, while speaking at the World Governments Summit in Dubai on Thursday.

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“They talked to a number of companies in China. In the end they chose to do business with us. They want to use our AI to power their phones. We feel extremely honoured to do business with a great company like Apple,” Tsai said.

Apple did not immediately respond to a request for comment.

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Rolling out AI tools in China is crucial for Apple as iPhone sales dipped in the holiday quarter, usually the US firm’s biggest period of sales. AI features are the chief selling point of its latest devices in other countries but were missing from models in China where regulations require a local partnership.

Alibaba has become a Chinese AI favourite among investors early in 2025, with its stock price up over 40 per cent so far this year.

The firm in late January released a new version of its Qwen 2.5 artificial intelligence model whose functionality it said surpassed that of DeepSeek-V3, which caused a stir earlier this year for its capability and low cost.

Elon Musk said on Thursday his AI chatbot, and ChatGPT challenger, Grok 3, is in the final stages of development and will be released in about a week or two.

“Grok 3 has very powerful reasoning capabilities, so in the tests that we’ve done thus far, Grok 3 is outperforming anything that’s been released, that we’re aware of, so that’s a good sign,” he said in a video call addressing the World Governments Summit in Dubai.

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The billionaire tech mogul founded xAI as a challenger to Microsoft-backed OpenAI and Alphabet’s Google. Musk also co-founded OpenAI.

On Monday, a consortium of investors led by Musk said it had offered $97.4bn to buy the assets of OpenAI’s nonprofit, in another salvo from the world’s richest man against the artificial intelligence startup.

OpenAI has said it wants to become a for-profit organization to secure the capital needed for developing the best AI models.

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Musk sued OpenAI CEO Sam Altman and others in August and has asked a U.S. district judge to block OpenAI’s attempt to transition to a for-profit entity. OpenAI said this week Musk’s bid clashes with his lawsuit.

“I think the evidence is there in that OpenAI has gotten this far while having at least a sort of dual profit, non-profit role. What they’re trying to do now is to completely delete the non-profit, and that seems really going too far.”

Musk, who was appointed by US President Donald Trump to oversee the so-called Department of Government Efficiency aimed at dramatically reducing the size of the federal workforce, said government spending could be reduced by $1tn or more.

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“Maybe the economy could grow at 4 or 5 per cent potentially, in terms of real useful goods and services output, and government spending can be reduced by about 3 or 4 per cent of the economy, about maybe a trillion dollars or more, and the net effect of that would be no inflation from 2025 to 2026 so that would be quite remarkable,” Musk said.

UAE AI Minister Omar Al Olama, who was interviewing Musk at the conference, said they would partner on “Dubai Loop”, an underground high-speed transport system.

Turning to international affairs, Musk told the Middle East audience the United States has been “pushy” in the past and it should “mind its own business”.

“I think we should, in general leave other countries to their own business,” he said.

Abu Dhabi Developmental Holding Company (ADQ) has inked a memorandum of understanding (MoU) with the International Finance Corporation (IFC), aiming to identify and pursue strategic, high-impact development projects across emerging markets globally.

IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets.

The MoU formalises a framework for collaboration that will leverage capital and expertise from both parties to fund impactful investments. The agreement will see ADQ and IFC explore co-investment opportunities in key sectors to drive sustainable economic growth.

ADQ to leverage infrastructure development experience

ADQ brings its proven track record in infrastructure development and supply chain resilience, while IFC offers its deep expertise in mobilizing commercial capital for sustainable investments. Together, the two organizations aim to identify and develop projects that bolster food security, promote agricultural innovation, and enhance healthcare infrastructure in emerging markets.

The partnership will also explore investments in critical infrastructure such as energy security, sustainability, transport and logistics, and real estate and urban development, to improve economic resilience, quality of life, and connectivity in developing regions. These investments are expected to foster greater competitiveness in a rapidly evolving global landscape.

Mohamed Hassan Alsuwaidi, MD and Group CEO of ADQ, expressed the significance of the collaboration, stating: “Partnering with IFC reflects our shared commitment to creating lasting value and driving sustainable impact across emerging and developing markets. By combining our strengths and expertise with IFC, we aim to extend the broad expertise of our portfolio companies to new markets. Our vision is to drive joint transformative infrastructure projects that have the ability to enhance the lives of communities while generating lasting value for local economies.”

Makhtar Diop, MD of IFC, highlighted the importance of sovereign wealth funds in driving sustainable growth. “This partnership underscores the crucial role of sovereign wealth funds in fostering sustainable growth in emerging markets. It also reflects the UAE’s leadership in driving South-South investments, enhancing economic cooperation, and creating opportunities globally.

“By combining IFC’s global expertise with ADQ’s strategic investments, we aim to mobilise private capital and accelerate transformative, long-term development across key sectors in emerging markets.”

ADQ: Strong regional presence

ADQ, established in 2018, manages a diverse portfolio spanning over 25 companies with operations across more than 130 countries. Its investments focus on vital sectors including energy and utilities, transport and logistics, food and agriculture, and healthcare and life sciences.

ADQ has a strong track record in building strategic alliances with governments worldwide, particularly in countries such as Egypt, Türkiye, Greece, Oman, and Jordan.

Meanwhile, IFC continues to support millions of people in emerging markets, providing access to electricity, improved sanitation, and greater food and nutrition security. Through strategic partnerships and innovative solutions, IFC’s initiatives continue to drive lasting economic and social impact worldwide.

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The UAE has achieved a remarkable position among the top 10 countries with the most AI companies per million population, UAE ranks among the top 10 nations globally for AI firms per capita.

The UAE has secured a position among the top 10 nations worldwide with the highest number of artificial intelligence (AI) firms per million people, underscoring its ambitions to become a global leader in AI and digital transformation, as revealed in the Global AI Competitiveness Index.

The report, a collaborative effort between the International Finance Forum (IFF) and Deep Knowledge Group, analysed over 55,000 AI companies worldwide.

The ranking highlights the UAE’s efforts to attract and develop AI-driven enterprises as part of its broader economic diversification strategy. The country has heavily invested in AI research, talent acquisition, and regulatory frameworks, positioning itself as a hub for innovation.

Dmitry Kaminskiy, general partner of Deep Knowledge Group stated: “The UAE’s ranking among the top 10 countries for AI companies per capita demonstrates how targeted investments are creating an ecosystem where AI innovation thrives. This is a blueprint for how nations can transform strategic vision into measurable impact.”

UAE sets an example with key digital initiatives

The UAE has introduced several national AI initiatives, including appointing the world’s first Minister of State for AI in 2017 and launching the National Strategy for Artificial Intelligence 2031, aimed at integrating AI across key sectors such as healthcare, finance, and education.

The ranking places the UAE alongside global technology powerhouses, reflecting its growing influence in the AI sector.

Analysts say the country’s business-friendly policies and AI-focused investments have contributed to the surge in AI startups and enterprises.

Industry experts expect AI adoption in the UAE to accelerate further as businesses and government entities increasingly integrate AI solutions into operations.

The Jordan Tourism Board (JTB) has reported that Jordan welcomed a record 1.32 million overnight visitors from the Gulf Cooperation Council (GCC) nations in 2024, marking a 15 per cent increase from the 1.15 million visitors in 2023.

The increase in the number of visitors was accompanied by a growth in the average length of stay, indicating that GCC travellers are spending more time exploring Jordan’s diverse attractions.

This trend was especially noticeable during the summer months and major holiday periods, with many visitors choosing to combine multiple destinations within their travel itineraries.

Key source markets for Jordan

According to a report published by WAM, the UAE’s state news agency, Saudi Arabia dominated the GCC market, accounting for the largest share of visitors with 1.158 million overnight arrivals in 2024. This represents a 17 per cent increase from 985,904 visitors in 2023. The summer months of July and August saw the highest levels of Saudi arrivals, with 156,400 visitors in July and 141,007 in August, showcasing a strong preference for Jordan as a summer travel destination.

The data also reveals a steady rise in the total number of GCC visitors during the summer months over the past three years. In July 2024, the number of visitors from the GCC reached 172,494, up from 146,474 in July 2023. In August, the number increased from 165,593 visitors in 2023 to 167,031 in 2024.

Kuwait remained the second-largest GCC source market, contributing 72,784 visitors in 2024.

The UAE also saw growth, with 18,378 visitors, an 11 per cent increase from the previous year. Qatar contributed 16,081 visitors, while Bahrain and Oman saw 34,309 and 22,716 visitors, respectively. Oman experienced a particularly strong growth rate of 12 per cent compared to the previous year, the report stated.

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