A version of Chinese startup DeepSeek’s flagship AI model is by far the least expensive to run on benchmark tests among well-known models globally and more than 100 times cheaper to run than Anthropic’s Claude Fable 5, according to a research firm.

DeepSeek, which sources have said is preparing for a potential IPO, officially released its V4-Flash model on Friday, its latest attempt to regain momentum by doing what it is best known for – offering ultra-low-cost AI alternatives.

The startup’s R1 model became a global sensation in early 2025, triggering a selloff in global technology stocks and raising questions about the large amounts US companies were spending on AI.

DeepSeek’s V4-Flash charges $0.14 per million input tokens and $0.28 per million output tokens, according to research firm Artificial Analysis. A token is a unit of data used to measure AI usage.

San Francisco-based Artificial Analysis estimated V4-Flash’s average cost at 3 cents per test, compared with 86 cents for Kimi K3 from Chinese rival Moonshot AI, $1.86 for OpenAI’s GPT-5.6 Sol and $3.15 for Claude Fable 5.

The comparison provides a more realistic measure of value than pricing alone because it accounts for the amount of data a model must process and generate to complete a task. A model with low headline price can still prove expensive if it requires significantly more steps to produce an answer.

DeepSeek once commanded most of the headlines about Chinese AI development but was quickly besieged by many domestic rivals including other startups such as Moonshot, MiniMax and Z.AI as well as tech giants like ByteDance and Alibaba. All are vying with US tech firms for global adoption, targeting businesses seeking cheaper ways to deploy AI at scale.

Artificial Analysis said DeepSeek’s V4-Flash model scored 50 out of 100 on its Intelligence Index, which combines results from nine benchmarks spanning coding, reasoning and workplace-style assignments.

That’s the same score as Google’s Gemini 3.6 Flash, and one point behind Meta’s Muse Spark 1.1 and GLM-5.2 from Z.AI which is also known as Zhipu.

Moonshot’s Kimi K3, however, scored a 57 while Anthropic’s Claude Opus 5, Fable 5, and OpenAI GPT-5.6 scored nine or more points higher.

DeepSeek is also preparing a more powerful version of its model, called the V4-Pro. It has not given a date for that version’s official release.

Separately on Monday, Alibaba unveiled its largest and most capable artificial-intelligence model to date, the Qwen3.8-Max, which is not far behind in size when compared with an offering from domestic rival Moonshot AI launched last month.

EFG Hermes has ranked first across five Middle East and North Africa (MENA) markets in the first half of 2026, according to the company, citing official exchange data.

The EFG Holding subsidiary said its securities brokerage division topped the rankings on the Egyptian Exchange (EGX), Boursa Kuwait, the Dubai Financial Market (DFM), Abu Dhabi Securities Exchange (ADX) and Nasdaq Dubai. It also claimed the number one position across the UAE on a combined basis.

The company said the results reflect continued investment in trading technology, execution infrastructure and regional market expertise as capital markets across the GCC and wider MENA region continue to deepen and attract greater institutional and retail investor participation.

In the UAE, EFG Hermes led all three exchanges, recording a 48.52 per cent market share on DFM, 38.92 per cent on ADX and 65.69 per cent on Nasdaq Dubai. Across the UAE as a whole, the brokerage achieved a 42.87 per cent market share, moving up from second place in FY2025, according to the company.

The firm also climbed to first place in Kuwait, where its market share increased to 41.56 per cent from 33.19 per cent in FY2025. In Egypt, EFG Hermes retained its long-standing leadership position on the EGX with a 29.60 per cent market share, up from 27.76 per cent in FY2025.

“Ranking first across five MENA markets in the first half of 2026 is a powerful endorsement of the trust our clients place in EFG Hermes and the strength of the platform we have built across the region,” said Ahmed Waly, group head of brokerage at EFG Hermes.

“This is not a one-market story; it is the result of years of investment in talent, technology, execution quality and deep client relationships across our footprint. We are particularly proud of the momentum we have seen in the GCC, where we moved to first place in Kuwait, ADX, Nasdaq Dubai and the UAE combined, while continuing to cement our leadership positions in Egypt and Dubai.”

Waly said the firm’s brokerage business continues to combine advisory services with technology-driven execution, supported by investments in electronic and algorithmic trading, institutional connectivity and stock borrowing and lending capabilities.

Beyond the markets where it secured the top ranking, EFG Hermes also finished among the top 10 brokers in Saudi Arabia during the first half of the year. The company said it ranked tenth in the Kingdom with a 6.53 per cent market share, reflecting continued investment in its Saudi platform.

The latest performance builds on a strong FY2025, during which EFG Hermes expanded market share across several GCC markets while investing further in digital execution tools, algorithmic trading capabilities and prime brokerage services.

The company said it remains focused on expanding investor access, improving execution efficiency and supporting the development of deeper, more liquid and globally connected capital markets across the MENA region.

Dubai Future Foundation (DFF) and autonomous vehicle technology company Oxa have launched a joint venture, SHIFFT, to establish the Autonomous Logistics Future Lab in Dubai, aiming to develop and deploy autonomous logistics technologies as the emirate seeks to strengthen its position as a hub for intelligent logistics services.

The initiative, launched under the Dubai Research, Development and Innovation (RDI) Ecosystem, will serve as a platform to develop, test and validate autonomous logistics technologies before bringing them to commercial deployment.

The first phase of the project will focus on autonomous vehicle solutions for ports and airports, with the partners targeting the first commercial deployment in Dubai before the end of 2027.

According to DFF, SHIFFT will contribute to the objectives of the Dubai Economic Agenda (D33), including the goal of doubling Dubai’s foreign trade by 2033.

The joint venture will integrate autonomous driving technologies with worksite data collection, analysis and operational intelligence through an integrated logistics platform designed for deployment across industrial environments.

Khalifa Al Qama, chief of Dubai’s RDI Ecosystem, overseen by Dubai Future Foundation, said the initiative was intended to accelerate the adoption of advanced logistics technologies while creating economic opportunities.

Lab to help develop advanced logistics solutions

“Through this lab, we aim to develop new intelligent logistics solutions that create economic opportunities while accelerating the adoption of advanced technologies and their practical applications. The initiative reflects Dubai’s commitment to strengthening its position as a global hub for the future of logistics services by transforming promising technologies into real-world solutions that deliver tangible economic and operational impact,” he said.

Paul Newman, founder and CEO of Oxa, said the venture would accelerate the commercial deployment of autonomous technologies for industrial vehicle fleets.

“This joint venture with Dubai Future Foundation will accelerate the development and commercial deployment of Industrial Mobile Autonomy technologies, enabling new levels of efficiency, reliability and safety for operators of industrial vehicle fleets,” he said.

According to the partners, SHIFFT will use configurable autonomous driving software, cloud-based fleet management systems and specialised autonomy hardware that can be integrated with existing industrial vehicles and equipment, enabling deployment across logistics environments.

The Dubai RDI Ecosystem was established under the directives of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence and Chairman of the Board of Trustees of Dubai Future Foundation. It serves as the umbrella framework for the emirate’s research, development and innovation initiatives, supporting government and private sector organisations in developing advanced technologies and future industries.

Read: Dubai logistics sector sets global benchmark for efficiency, industry group says

Boursa Kuwait Securities Company reported a net profit of KD13.74m ($44.7m) for the first six months of 2026, as the exchange operator said its business remained resilient despite regional tensions.

The company said total operating revenues reached KD23.39m for the six months ended June 30, while operating profit stood at KD17.11m.

Earnings per share were 68.42 fils.

Chairman Bader Naseer Al-Kharafi said Boursa Kuwait was among the best-performing exchanges in the region during the period, adding that the recovery in second-quarter earnings reflected the resilience of its business model despite market challenges.

He said the company’s strategy continued to advance its transformation into a multi-asset exchange through the launch of its fixed-income platform and the introduction of exchange-traded funds (ETFs).

CEO Mohammad Al-Osaimi said the Boursa Kuwait All-Share Total Return Index recorded growth despite market volatility.

He added that total trading value reached KD9.82bn during the first half, with institutional investors accounting for 70.08 per cent of market activity and international investors representing 18.79 per cent of total value traded.

Boursa Kuwait announced the results following a meeting of its board of directors held on July 30. The financial statements cover the six months ended June 30, 2026.

Emirates NBD has agreed to acquire HSBC Bank Egypt’s retail banking business, expanding its presence in one of the group’s core regional markets, subject to regulatory approvals and customary closing conditions.

The acquisition will be carried out through Emirates NBD Egypt, the lender’s wholly owned Egyptian subsidiary.

Under the agreement, Emirates NBD Egypt will acquire HSBC Egypt’s retail banking portfolio, including its associated branch and ATM network, customer base and relevant employees.

The bank said the transaction would strengthen Emirates NBD Egypt’s position in the country’s retail and premium banking segments while enhancing connectivity across the UAE-Egypt corridor.

Financial terms of the deal were not disclosed.

Egypt is a strategically important market for Emirates NBD and a key pillar of the group’s regional growth strategy, the lender said.

“Our investment reflects our continued confidence in Egypt’s dynamic market and its long-term growth prospects. We look forward to further expanding our footprint in the country and contributing to Egypt’s continued economic growth and development,” Hesham Abdulla Al Qassim, vice chairman and MD of Emirates NBD and chairman of Emirates NBD Egypt, said in a statement.

Group chief executive Shayne Nelson said the acquisition represented an important milestone in the execution of the bank’s regional growth strategy.

“The transaction strengthens our presence in one of the group’s core markets and supports our ambition to continue growing our customer franchise in Egypt,” Nelson said.

Amr ElShafei, chief executive and MD of Emirates NBD Egypt, said the acquisition would enhance the bank’s ability to serve customers across the country.

“We look forward to welcoming HSBC‘s customers to Emirates NBD Egypt, offering seamless financial solutions, comprehensive digital banking services and a customer-focused banking experience,” he said.

Emirates NBD operations in the region

Emirates NBD has operations in the UAE, Egypt, India, Türkiye, Saudi Arabia, Singapore, the UK, Austria, Germany, Russia and Bahrain, and representative offices in China and Indonesia, with a total of 1,425 branches and 4,948 ATMs / SDMs.

As of June 30, the group had total assets of about $360bn and reported first-half net profit of about $3.5bn.

Emirates NBD Egypt serves customers through a network of 64 branches across Egypt and had total assets of about $5bn as of June 30.