Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai, has launched the official operations of fully autonomous RT6 taxi vehicles developed by Baidu Apollo Go, marking a major milestone in Dubai’s smart mobility journey.

The launch signals a significant step in the emirate’s push to integrate advanced technologies into its transport ecosystem and reflects Dubai’s broader vision to position itself at the forefront of future mobility solutions, a WAM report said.

Sixth-generation autonomous taxi technology

The RT6 vehicle represents the sixth generation of autonomous taxi technology developed by Baidu Apollo Go and has been specifically designed for large-scale commercial deployment.

Read more-RTA issues first fully driverless permit, Baidu Apollo Go launches operations centre

The vehicle is equipped with more than 40 advanced sensors, including high-precision LiDAR systems, multi-band radars, and high-resolution cameras. These systems allow the vehicle to continuously monitor its surroundings, detect obstacles, anticipate traffic patterns, and respond dynamically to changing road conditions.

Officials explained that the combination of hardware and software enables the vehicle to make real-time driving decisions while maintaining a high level of safety and reliability.

AI-driven software powers urban navigation

At the core of the autonomous taxi’s operation is an advanced software ecosystem that integrates real-time data, high-definition mapping, and deep-learning algorithms. This allows the vehicle to navigate complex urban environments, interact with intersections, pedestrians, cyclists, and other vehicles, and comply with traffic laws at all times.

The system is designed to operate efficiently in dense city settings, reflecting Dubai’s focus on deploying future-ready technologies that can scale across the emirate’s transport network.

The deployment in Dubai builds on extensive operational experience, with Baidu Apollo Go’s autonomous vehicles having completed more than 150 million kilometres of safe driving and conducted over 10 million autonomous trips across several cities.

Officials said this experience has contributed to the development of mature, scalable operational models capable of supporting large-scale commercial services, providing a strong foundation for the rollout in Dubai.

RTA and Baidu partnership accelerated implementation

The operation of the driverless taxi service is the result of close cooperation between Dubai’s Roads and Transport Authority (RTA) and Baidu Apollo Go. The partnership began following a meeting during the World Governments Summit 2025, where both sides explored opportunities for collaboration in autonomous mobility.

The discussions focused on leveraging Baidu’s global expertise while aligning with Dubai’s strategy to accelerate the adoption of advanced transport technologies.

Progress moved quickly, culminating in the signing of a Memorandum of Understanding and the launch of operational trials on selected roads across the emirate. The transition from planning to implementation was completed in approximately 10 months, reflecting Dubai’s agile regulatory framework, efficient decision-making, and advanced smart infrastructure.

First Apollo Go operations centre outside China

As part of its expansion, Baidu Apollo Go inaugurated an autonomous vehicle operations and control centre in Dubai, marking the company’s first such facility outside China.

The centre, located at Dubai Science Park, spans 2,000 square metres and serves as a fully integrated hub for managing the autonomous fleet. It includes a command and control centre, simulation and training rooms, and operational and maintenance facilities.

The facility enables daily fleet management, continuous vehicle monitoring, software updates, safety testing, and rapid response to operational requirements. It also supports maintenance and technical inspections to ensure consistent performance and safety.

Plans are in place to expand Baidu Apollo Go’s autonomous fleet in Dubai to more than 1,000 vehicles in the coming years.

Strengthening Dubai’s smart mobility ecosystem

Serving as a critical link between smart road infrastructure, vehicle systems, and decision-making centres, the new operations centre enhances the readiness of Dubai’s ecosystem for the gradual expansion of autonomous taxi services.

Officials said the development represents a major milestone in Dubai’s efforts to build a smart, sustainable mobility system driven by innovation, artificial intelligence, and partnerships with leading global companies.

The initiative is expected to contribute to improved quality of life, increased transport efficiency, and the reinforcement of Dubai’s position as a global leader in shaping the future of mobility.

Sheikh Hamdan marks milestone with autonomous ride

To mark the occasion, Sheikh Hamdan took a ride in one of the fully autonomous vehicles to the venue of the World Governments Summit at Madinat Jumeirah. The journey highlighted the readiness of driverless transport to operate in real urban environments and on roads open to live traffic.

Officials briefed Sheikh Hamdan during the ride on the vehicle’s operating mechanisms, which rely on an integrated system powered by artificial intelligence, advanced sensing technologies, and autonomous decision-making software. The system is designed to ensure safe, seamless mobility while complying fully with traffic regulations and safety standards.

The milestone paves the way for the public launch of the autonomous taxi service in the first quarter of 2026.

The launch was attended by Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, and Mattar Al Tayer, director-general and chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA).

The presence of senior government officials underscored the strategic importance of autonomous mobility within Dubai’s broader economic and technological development agenda.

Bitcoin tumbled through the key $70,000 level on Thursday as a slide in the world’s largest cryptocurrency showed no signs of stopping.

Bitcoin fell by as much as 3.8 per cent to a low of $69,858, its weakest since November 2024, when Republican Donald Trump won the US presidential election, having signalled his intention to support crypto on the campaign trail.

Bitcoin has already fallen nearly 8 per cent for the week, taking its losses for the year so far to nearly 20 per cent. Ether, which was down nearly 2 per cent at $2,090, is down close to 30 per cent this year.

Markets ‘fear a hawk’ with Warsh

The latest rout in cryptocurrencies, which has come hard and fast, was triggered, analysts say, by the nomination of Kevin Warsh as the next Federal Reserve Chair, due to expectations he could shrink the Fed’s balance sheet.

Cryptocurrencies have widely been regarded as beneficiaries of a large balance sheet, having tended to rally while the Fed greased money markets with liquidity, a support for speculative assets.

Read more-US probes crypto platforms over suspected Iran sanctions evasion

“The market fears a hawk with him,” said Manuel Villegas Franceschi from the next generation research team at Julius Baer. “A smaller balance sheet is not going to provide any tailwinds for crypto.”

The global crypto market has lost nearly $1.9trn in value since hitting a peak of $4.379trn in early October, based on data from CoinGecko, with some $800bn wiped out in the last month alone.

To be sure, cryptocurrencies have struggled for months since a record crash last October sent bitcoin tumbling from a peak as leveraged positions got washed out.

That has left investors less keen on digital assets and sentiment towards the industry fragile.

“We believe this broader decline is mainly driven by massive withdrawals from institutional ETFs. These funds have seen billions of dollars flow out each month since the Oct 2025 downturn,” Deutsche Bank analysts said in a note to clients.

They added that US spot bitcoin ETFs witnessed outflows of more than $3 billion in January, following outflows of about $2bn and $7bn in December and November respectively.

“This steady selling in our view signals that traditional investors are losing interest, and overall pessimism about crypto is growing,” the analysts said.

Broader issues in tech sector

Bitcoin’s fortunes have been tied to the broader tech sector for some time. The price tended to rise, particularly on the back of investor enthusiasm over artificial intelligence.

This week’s rout in global software stocks has accelerated the slide in the value of bitcoin, ether and other tokens.

Market watchers are starting to question if this decline marks the start of a steeper correction.

“Concerns are being raised around the crypto miners and whether we could be looking at forced liquidations if prices continue to fall, which could lead to a vicious cycle,” Jefferies strategist Mohit Kumar said in a note.

“Our view on crypto has always been that it should be never more than a very small portion of the overall portfolio. However, it is also an asset class that is heavily owned, particularly by retail investors, and hence adds to the overall market risk.”

Riyadh Air and Mastercard said on Wednesday they have signed a strategic global partnership covering consumer payments, business-to-business transactions and travel technology, as Saudi Arabia’s new national carrier builds its commercial ecosystem ahead of launch.

The partnership includes the development of Riyadh Air-branded Mastercard credit and prepaid cards, an airline-branded virtual card programme for travel trade settlements, and the co-development of a joint centre of excellence to design and scale new payment and travel solutions.

Riyadh Air said it will introduce airline-branded digital credit and prepaid cards aimed at the next generation of travellers.

The cards will allow users to earn flights, upgrades, lifestyle rewards and experiences through everyday spending.

The digital-first products are expected to roll out to Saudi residents in late 2026 and will be integrated into the Riyadh Air mobile application.

Mastercard and Riyadh Air to create an integrated, digitally-native ecosystem

“This partnership reflects Mastercard’s role in creating meaningful solutions, paving the way for smart, secure and seamless payments,” said Dimitrios Dosis, president for Eastern Europe, the Middle East and Africa at Mastercard. “Together with Riyadh Air, we are creating an integrated digitally-native ecosystem that delivers value at every touchpoint—for guests, travel agents, airlines and hospitality partners—while reinforcing Saudi Arabia’s role as a global travel hub.”

Riyadh Air said it will also become the first airline globally to introduce an airline-branded virtual card programme for travel agents and other business-to-business transactions, aimed at improving efficiency, security and reconciliation in travel trade settlements.

“Our deep collaboration with Mastercard clearly reflects not only our commitment to be a digital native airline but also our strong confidence in our future trajectory,” said Adam Boukadida, CFO at Riyadh Air. “It allows us to build a travel experience that is seamless, digital and distinctly differentiated. We are fortunate to be in a highly unique situation where we can implement many different solutions at the same time, from integrated payments and rewards to premium airport experiences and innovative virtual payment solutions. This collaboration enables us to deliver exceptional journeys for our guests around the world.”

As part of the agreement, the two companies will establish a joint centre of excellence focused on designing, testing and scaling new solutions using data insights, emerging technologies and real-world use cases.

The partnership comes as Saudi Arabia accelerates investment in aviation, tourism and infrastructure as part of its economic diversification strategy.

According to Mastercard’s Travel Trends Report 2025, passenger traffic in Riyadh has risen sharply, reflecting the kingdom’s growing role as a global travel and business hub.

Riyadh Air is owned by Saudi Arabia’s Public Investment Fund and was launched in 2023. Mastercard operates in more than 200 countries and territories worldwide.

Read: Riyadh Air introduces cargo unit to boost air freight operations

Indian technology shares slid sharply on Wednesday, with major IT services firms experiencing some of their steepest one-day declines in recent years as fears over potential disruption from artificial intelligence rippled through global markets.

The Nifty IT index dropped more than 7 per cent on February 4, marking its worst session since March 2020, as concerns over the impact of AI and weakness in overseas technology stocks weighed on sentiment. Heavyweights such as Infosys, Tata Consultancy Services, LTIMindtree and others saw share prices fall up to 8 per cent, dragging the broader IT sector lower, according to Indian media reports.

AI headlines trigger global tech sell-off

The slide in Indian stocks followed a sharp sell-off in US and European software and data analytics equities after U.S. artificial intelligence startup Anthropic unveiled new AI plug-ins for its Claude platform designed to automate tasks across areas such as legal work, data analysis and compliance. Investors interpreted the developments as raising the possibility that AI could reduce reliance on traditional software and labour-intensive IT services, triggering a broad risk-off reaction in tech stocks, Reuters reported.

Global software stocks more broadly lost ground, with analysts and traders citing the potential for AI to blur the lines between assistive technologies and autonomous workflow execution — a development that sent ripples through the professional services ecosystem.

Outsourcing exposure and ripple effects

Indian IT firms are heavily exposed to overseas demand, particularly from the US and Europe, where many clients outsource software development, maintenance and business process services. As global counterparts saw selling pressure, Indian IT shares were pulled down by related moves in ADRs (American depository receipts) and overseas market weakness.

All major constituents of the Nifty IT index ended the session in the red, with losses ranging between approximately 5 per cent and 8 per cent across large-cap names including Infosys, TCS, Wipro and HCLTech.

The sell-off also occurred against a backdrop of already stretched valuations in the sector and a stronger Indian rupee — two factors that can pressure revenue expectations for export-oriented companies that bill in foreign currencies.

Market participants noted that while the immediate trigger was headlines around AI advancements abroad, domestic investors were quick to reassess near-term risks amid ongoing discretionary tech spending uncertainties in major client markets.

Read: Why the Indian rupee is suddenly climbing after the US trade deal

The Washington Post has announced sweeping layoffs that will see roughly one-third of its workforce exit the company, as the storied US newspaper accelerates a major restructuring of its newsroom and scales back coverage in several areas.

The cuts, confirmed on Wednesday, affect employees across departments, with sports, local and international news among the hardest hit. The move marks one of the most significant rounds of job losses in the publication’s recent history and underscores the mounting financial and structural pressures facing legacy news organisations.

Owned by billionaire Jeff Bezos, the Washington Post has grappled with declining digital traffic, rising competition, and shifting reader behaviour, even as it continues to produce high-impact investigative and national reporting.

In a detailed note to staff, executive editor Matt Murray said the layoffs were part of a broader effort to “reposition The Post” for a rapidly changing media environment shaped by evolving consumption habits, platform decline and the emergence of AI-generated content.

“For the immediate future, we will concentrate on areas that demonstrate authority, distinctiveness, and impact and that resonate with readers,” Murray wrote, outlining a sharper editorial focus on politics, national affairs, national security, science, health, technology, climate, business, investigations, and culture.

He acknowledged the human cost of the decision, describing the day as “painful” and the actions as “difficult,” while arguing that the company’s structure was still rooted in an era when it was a dominant local print product.

“Our organic search has fallen by nearly half in the last three years,” Murray noted, adding that platforms which once helped digital news outlets thrive were now in “serious decline,” while AI-driven experiences were reshaping user expectations at speed.

The layoffs also resulted in the near-total dismantling of the Post’s international team, according to staff accounts. Among those affected was Ishaan Tharoor, a senior foreign affairs columnist and son of Indian Congress leader Shashi Tharoor.

In a post on X, Ishaan Tharoor said he had been laid off “along with most of the International staff,” calling the moment heartbreaking for the newsroom and praising the journalists who served the Post’s global coverage.

“I launched the WorldView column in January 2017 to help readers better understand the world and America’s place in it,” he wrote, adding that he was grateful to the half a million subscribers who followed the column over the years.

Murray said the Post would continue to invest in journalism that “breaks news, explains the world with authority and fairness, and empowers people with knowledge,” but stressed that the organisation could no longer attempt to be “everything to everyone.”

The Washington Post is the latest major media organisation to undergo deep restructuring as news publishers worldwide confront falling search traffic, platform dependence, cost pressures and a fragmented digital audience — challenges that are forcing even the most established institutions to rethink how journalism is produced, distributed and monetised.