The UAE’s President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi witnessed the signing and exchange of a series of agreements aimed at deepening the two countries’ strategic partnership during the UAE leader’s recent official visit to India, according to a joint statement by the UAE Ministry of Foreign Affairs (MoFA) and India’s Prime Minister’s Office.

The agreements and letters of intent cover sectors such as defence, energy, space cooperation, trade, investment and food safety.

UAE-India strengthen partnerships

Among the key outcomes was a Letter of Intent establishing a Strategic Defence Partnership, reflecting closer cooperation on security and defence industries.

The two sides also formalised space sector collaboration through a Letter of Intent between the UAE Space Agency and India’s national space promotion body, focusing on industry development and commercial opportunities.

In energy, ADNOC Gas and Hindustan Petroleum Corporation Limited signed a sales and purchase agreement, enabling long-term energy cooperation between the two countries.

Food security cooperation advanced through an agreement on food safety and technical requirements between relevant authorities.

The visit also saw a Letter of Intent on investment cooperation for the development of India’s Dholera Special Investment Region in Gujarat, to support infrastructure and industrial growth.

The leaders also discussed deepening collaboration in science and technology in the areas of artificial intelligence (AI) and emerging technologies.

Sheikh Mohamed’s visit came as both sides reaffirmed their Comprehensive Strategic Partnership Agreement, under which bilateral trade reached about $100bn in the 2024-25 fiscal year, with a mutual goal to double that figure by 2032, according to a joint statement issued by the Indian government.

OpenAI is expanding its efforts to convince global governments to build more data centers and encourage greater usage of artificial intelligence in areas such as education, health and disaster preparedness.

The initiative – called OpenAI for Countries – will expand the reach of its products and help close the gap between countries with broad access to AI technology and nations that do not yet have the capacity, the company said.

OpenAI also hopes to encourage deeper usage of its tools, adding that AI systems are capable of more complex tasks than many people realize.

“Most countries are still operating far short of what today’s AI systems make possible,” the company said in a report shared with Reuters.

OpenAI started the international initiative last year and appointed former British finance minister George Osborne to oversee the project in December. Osborne and Chris Lehane, OpenAI chief global affairs officer, are pitching government officials on the project this week in Davos.

The initiative is part of a broader strategy that has helped cement ChatGPT creator OpenAI at the vanguard of the modern AI boom. The company was most recently worth $500 billion and is exploring a public offering that could be worth as much as $1 trillion.

Eleven countries have signed up for OpenAI for Countries. Each deal is structured differently.

Estonia, for example, is embedding OpenAI’s education tool, ChatGPT Edu, into secondary schools across the country. In Norway and the United Arab Emirates, OpenAI is working with other companies to build data centers and become their first customer.

On Wednesday, OpenAI executives said they were hoping to work with governments in other areas, like disaster planning. In South Korea, OpenAI is exploring a deal with the government’s water authority to build a real-time, water-disaster warning and defense system against water problems driven by climate change.

In its report, OpenAI said its typical “power user” – or those in the 95th percentile – reaches for OpenAI’s advanced reasoning capabilities seven times more often than a typical user. There are also big gaps within countries.

For example, in Singapore, which has broad access to AI tools, people send more than three times more messages about coding than average, the report said.

Read: OpenAI rolls out GPT-5.2 in strategic response to AI competition

Qatar Investment Authority (QIA), the Gulf state’s sovereign wealth fund, and Goldman Sachs Asset Management have signed a memorandum of understanding to expand their strategic partnership with a target of up to $25bn in investments, QIA said on Tuesday.

Under the agreement, QIA aims to commit a combined total of $25bn to funds managed by Goldman Sachs Asset Management and related co-investment opportunities.

The sovereign fund will act as an anchor investor in a range of Goldman Sachs’ flagship and innovative strategies.

QIA said it will support Goldman Sachs across existing business areas and new growth opportunities, including direct investments.

The two institutions also plan to enhance cooperation on strategic advisory services, capital formation, mergers and acquisitions, and the development of Qatar’s economy and capital markets.

QIA chief executive Mohammed Saif Al Sowaidi said the deal builds on a longstanding relationship and provides access to investment opportunities in sectors such as artificial intelligence, fintech, digital infrastructure and private credit.

Goldman Sachs CEO David Solomon said the expanded partnership reinforces Doha’s position as a regional financial hub and creates opportunities to deepen engagement with global partners.

Goldman Sachs to increase workforce in Doha

As part of the arrangement, Goldman Sachs plans to grow its headcount in Doha, positioning the office as a strategic regional hub for asset management.

The agreement also envisages cooperation on initiatives to support national development objectives and attract foreign direct investment.

Goldman Sachs Asset Management oversees a broad portfolio of assets, including private equity, credit, infrastructure and real estate, and QIA is among the largest sovereign wealth funds globally.

Emirates Airline has signed an agreement with Dubai Investments Park (DIP) to acquire land for a new, purpose-built Cabin Crew Village, representing a multi-billion-dirham investment aimed at supporting the airline’s long-term growth and workforce needs.

The mixed-use residential development will accommodate up to 12,000 cabin crew members and is being delivered through a long-term lease arrangement. Groundbreaking is scheduled for Q2 2026, with the first phase expected to be completed by 2029.

The agreement was signed by Ali Mubarak Al Soori, Emirates’ chief procurement & facilities officer, and Khalid Bin Kalban, vice chairman and CEO of Dubai Investments, in the presence of Adel Al Redha, Emirates’ deputy president and chief operating officer; Abdulaziz Bin Yagub Al Serkal, CEO of Glass LLC, Dubai Investments; Omar Al Mesmar, general manager of Dubai Investments Park; along with senior executives from both organisations.

Purpose-built residential community

The Cabin Crew Village will comprise 20 contemporary residential buildings, each rising 19 floors, offering a mix of one-, two- and three-bedroom apartments designed specifically to support crew comfort, convenience and lifestyle needs.

Ali Mubarak Al Soori, Emirates’ chief procurement & facilities officer, said: “Our cabin crew are central to the experience Emirates delivers to customers. This investment is part of our broader commitment to supporting their wellbeing by offering living spaces designed around their needs and lifestyles. The Cabin Crew Village will provide everything our crew need within a single, thoughtfully planned development, with convenient access to everyday essentials, leisure facilities and communal spaces that foster a strong sense of community. The Cabin Crew Village also represents a strategic investment in Emirates’ future, supporting our transition plans to Al Maktoum International and continued growth in the years ahead.”

Lifestyle-focused amenities

Designed as a complete lifestyle destination, the development will feature a central multi-purpose hub with retail outlets, restaurants and food concepts, alongside fitness facilities, clinics, public spaces and landscaped parks.

Residents will be encouraged to embrace an active outdoor lifestyle, supported by walking trails, resort-style swimming pools, green spaces and landscaped grounds integrated throughout the community. Each residential building will also include dedicated on-site facilities to enhance convenience and accessibility.

Strategic location and long-term planning

Strategically positioned equidistant between Dubai International Airport and Dubai World Central, the Cabin Crew Village supports Emirates’ long-term operational strategy, including its planned transition to Al Maktoum International Airport.

Omar Al Mesmar, general manager of Dubai Investments Park, said: “Dubai Investments Park has evolved into a destination where global enterprises can bring ambitious projects to life within a fully integrated and future-ready environment. DIP’s collaboration with Emirates reflects the confidence that leading organisations place in its infrastructure and regulatory ecosystem and further reinforces its position as a hub for visionary investment. This development will enrich DIP’s dynamic community, supporting Dubai’s continued rise as a global centre for business and opportunity. DIP remains committed to enabling partnerships that create meaningful, long-term value for the emirate.”

The project further reinforces Dubai’s positioning as a global aviation and business hub, while underscoring Emirates’ continued investment in people, infrastructure and long-term operational resilience.

Read: Emirates carries 55.6 million passengers in 2025

Gold prices surged to a record above $4,800 per ounce on Wednesday, as investors sought the metal as a safe haven following a broad selloff in US assets amid heightened tensions between the US and NATO over Greenland.

Spot gold climbed 2.6 per cent to $4,885.11 per ounce by 0633 GMT, after scaling a record $4,887.82 earlier in the session. US gold futures for February delivery climbed 2.6 per cent to $4,888.20 per ounce.

Read more-Gold, silver hit record highs after Trump threatens tariffs on Europe over Greenland

“It’s the loss of trust in the US caused by Trump’s moves over the weekend to tariff European countries and increase coercion in trying to take Greenland. (The move in gold) reflects fears about global geopolitical (tensions),” said Kyle Rodda, a senior market analyst at Capital.com.

On Tuesday, Trump said there was “no going back” on his goal to control Greenland, refusing to rule out taking the Arctic island by force and lashing out at NATO allies.

He later said, “we will work something out where NATO is going to be very happy and where we’re going to be very happy.”

Meanwhile, French President Emmanuel Macron said Europe would not give in to bullies or be intimidated, in a scathing criticism of Trump’s threat of steep tariffs at Davos.

“I think crossing $4,800 just reinforces that people don’t want to sell gold before $5,000. It’s a combination of the traditional supporters for gold, which is rising debt, a weakening dollar and geopolitical uncertainty,” said Nicholas Frappell, global head of institutional markets at ABC Refinery.

The dollar index languished at a near one-month low after White House threats over Greenland triggered a broad selloff in US assets, from the currency to Wall Street stocks and Treasury bonds.