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SoftBank Group is racing to close a $22.5bn funding commitment ‌to OpenAI by year-end through an array of cash-raising schemes, including a sale of some investments, and could tap its undrawn ‌margin loans borrowed against its valuable ownership in ‍chip firm Arm Holdings, sources said.The "all-in" bet on OpenAI is among the biggest yet by SoftBank CEO Masayoshi Son, as the Japanese billionaire seeks to improve his firm's position in the ⁠race for artificial intelligence. To come up with the money, Son ⁠has already sold SoftBank's entire $5.8bn stake in AI chip leader Nvidia, offloaded $4.8bn of its T-Mobile US stake, and slashed staff.Son has slowed ‍most other dealmaking at SoftBank's Vision Fund to a crawl, and any deal above $50mn now requires his explicit approval, two of the sources told Reuters. Son's firm is working to take public its payments app operator, PayPay. The initial public offering, originally expected this month, was pushed back due to the 43-day-long US government shutdown, which ended in November.PayPay's market debut, likely to raise more than $20bn, is now expected in the first quarter of next year, according to one direct source and another person familiar with the efforts.The Japanese conglomerate is also looking to cash out some of its holdings in Didi Global, the operator of China’s dominant ride-hailing platform, which is looking to list its shares ‌in Hong Kong after a regulatory crackdown forced it to delist in the US in 2021, a source with direct knowledge said. Investment managers at SoftBank's Vision Fund are being directed toward the OpenAI deal, two of the above sources said.SoftBank's scramble to marshal funds offers a window into the strain faced even by ‍the world's biggest dealmakers as they scramble to finance ⁠ambitious AI data centre projects ‌worth hundreds of billions of dollars.SoftBank declined to comment.OpenAI has not yet received the remaining funding, but expects the money to come in by the end of 2025, as stipulated in the contract, sources said.SoftBank has multiple sources of capital it could tap, including margin loans, cash on its balance sheet, stakes in listed companies, and corporate bonds or bridge loans, sources said. Son has strong reasons to draw on a range of funding mechanisms to fulfil those obligations.SoftBank secured a deal to invest in OpenAI at a $300bn valuation in April. Since then, the valuation of OpenAI has risen dramatically and the company is in talks to raise additional funding from investors, including Amazon, tripling its valuation to close to $900 billion, one of the sources added, which would give SoftBank a significant paper gain once the transaction is completed.A major pool of capital for SoftBank is its undrawn capacity of margin loans borrowed against its ownership of British semiconductor and software design company Arm Holdings. SoftBank recently expanded its margin loan capacity by $6.5bn, bringing the total undrawn capacity to $11.5bn. Arm’s stock ​has since tripled from its IPO price, providing SoftBank with ‌additional collateral headroom to expand its borrowing capacity.SoftBank reported parent-level cash of 4.2tn yen ($27.16bn) as of September 30. The group still owns about 4% of T-Mobile US, remaining the wireless carrier’s second-largest ⁠shareholder, a stake worth roughly $11bn at the end of September, ‍according to LSEG data. Despite investing at a less active pace, it has continued to back AI startups such as Sierra and Skild AI.Both OpenAI and SoftBank are investors in Stargate, a $500bn initiative to build AI data centres for training and inference that executives say is crucial to the US government's ambitions to keep ahead of China in AI.The rush to build data centres has also prompted tech giants including Meta Platforms to commit unprecedented sums to these buildouts - which need chips, power, cooling, and servers - and they have brought in deep-pocketed partners to spread the risk.Their hefty ​capital outlays have sparked concerns about what happens if the investments fail to bring commensurate returns, raising the spectre of an "AI bubble" bursting. SoftBank promised in April to invest up to $30bn in OpenAI - $10bn of which the startup would receive the same month. The rest of the payment was contingent on the AI startup transitioning to a for-profit corporation by the end of the year, an ambitious feat that OpenAI achieved in October.The new funding is crucial for covering OpenAI’s rising costs to train and run its AI models as competition from Alphabet's Google ratchets up. OpenAI CEO Sam Altman told employees recently that the company is now entering a "code red” phase to improve ChatGPT - delaying other product rollouts to fend off the momentum behind Google’s Gemini.In October, Altman said OpenAI aimed to build 30 gigawatts of computing capacity for $1.4tn. He said he ultimately wants OpenAI to add ⁠1 gigawatt of compute every week - an enormous target given that each gigawatt currently comes with a capital cost of more than $40bn. 

His Excellency CEO of the Qatar Free Zones (QFZ) Authority Sheikh Mohammed bin Hamad bin Faisal al-Thani said that Qatar National Day is a cherished national occasion to recall the values upon which the State of Qatar was founded, the values of faith, responsibility, and hard work, adding that these are the same principles that today guide the country towards achieving comprehensive development and enhancing its position on the global arena.Speaking to Qatar News Agency (QNA) on the occasion of the country's National Day, Sheikh Mohammed extended his warm congratulations to His Highness the Amir Sheikh Tamim bin Hamad al-Thani, the leader and patron of Qatar's advancement, and to His Highness the Father Amir Sheikh Hamad bin Khalifa al-Thani, whose foresighted vision laid the foundations for the country's development and put it on path towards a bright future.He added that recalling the role of the Founder Sheikh Jassim bin Mohammed bin Thani is not merely a remembrance of the founding history, but a reminder of today's responsibility towards the future, adding that loyalty and belonging in the context of institutions and the economy mean converting the national vision into tangible outcomes, which include quality investments, sustainable job opportunities, a diversified economy, and international leadership supported by trust and achievement.He noted that the authority continues to perform its role as a catalyst for the growth of value-added sectors, in line with the objectives of the Qatar National Vision 2030 (QNV 2030) and the Third National Development Strategy, particularly with regard to attracting foreign direct investment, developing human capital, and achieving environmental and economic sustainability.On a personal level, he said that Qatar National Day is a moment to reflect on and assess institutional responsibility in achieving real economic impact, and evaluating the extent of actual contribution to supporting the stability of the state and its sustainable growth, adding that it is also an occasion to renew the collective commitment to diligent, results-driven work that befits the aspirations of the nation and its leadership.Regarding the QFZ's most prominent achievements in 2025, he said that the authority continued its role in supporting the transition towards a diversified, knowledge-based economy, thanks to an investment base of more than 800 companies licensed in the free zones, providing over 12,000 jobs, with cumulative investments approaching $5bn by the end of 2025.He pointed out that this year marked a shift from attracting investments to operating advanced industrial and technological facilities.In the aviation sector, the Safran Group opened its regional office in the free zones in cooperation with Qatar Airways, enhancing the country's capabilities in aircraft engine maintenance and data analytics.In the logistics sector, FedEx Logistics opened a new facility at the Ras Bufontas Free Zone, thus, strengthening Qatar's position as a key hub for international trade and supply chains.For its part, Alfardan Automotive inaugurated an advanced logistics centre in Umm Alhoul Free Zone.In the maritime sector, the MARSA port project in Umm Alhoul Free Zone was advanced through the signing of two memorandums of understanding (MoUs), with Feadship, and with Marina Port Vell, enhancing Qatar's position as a regional hub for maritime services, marine industries, and luxury yachts.The QFZ also signed strategic agreements with global partners, most notably a strategic MoU with WuXi Biologics, the leading Chinese international company in biologics research, development, and manufacturing, an important step aimed at strengthening Qatar's pharmaceutical ecosystem, driving research, development, and innovation in this field, and cooperating in the local manufacturing of biologic products.QFZ's co-operation in 2025 also included signing an agreement with Samsung C&T Corporation to implement innovative projects in renewable energy and low-carbon digital infrastructure, as well as an MoU with Russia's BIOCAD to develop biologics research, development, and manufacturing facilities.At the local level, the Authority signed an agreement with Jusour to support training national talents to meet the needs of advanced sectors in the free zones.Regarding new projects supporting digital transformation and contributing to the growth of the emerging technology sector, he said that the QFZ continues to enable the state's digital transformation by developing advanced technological infrastructure that enhances the local economy's readiness for next-generation applications.The year 2025 has been pivotal in this regard, with the free zones witnessing an expansion in the presence of global and local digital companies, in addition to the growth of cloud infrastructure and data centres, he noted.The Google Cloud Center of Excellence emerged as one of the key pillars in building digital capabilities, offering specialised training programs this year in artificial intelligence, cloud computing, and data analytics, contributing to the development of national talent and support for the private sector.The free zones also saw digital companies such as Kingdee, Quantiphi, and Qcloud expand data centre capabilities in Ras Bufontas Free Zone, as part of building an integrated digital ecosystem that supports artificial intelligence and Internet of Things (IoT) solutions, forming a foundation for emerging technologies.Digital transformation also strengthens joint projects with Samsung C&T Corporation, which combine digital innovation and sustainability through the development of smart energy solutions and low-carbon infrastructure.Technological advancement has extended to the maritime sector, where the MARSA port project introduced advanced digital systems for marina management and marine maintenance, an initiative showcased during the QFZ's participation in the Monaco Yacht Show 2025.These initiatives contribute to supporting the implementation of Qatar's Digital Agenda 2030 and consolidating the position of the free zones as a leading platform for innovation and advanced technologies in the region.Regarding QFZ's key strategic priorities for the coming year, His Excellency said that the authority will focus on developing a more flexible and competitive investment ecosystem that supports achieving the targets of the Third National Development Strategy to reach $100bn in foreign direct investment over the coming years.The QFZ's priorities include enhancing the regulatory environment through the development of a dual licensing model, which allows companies to operate in the free zones and the local market through an integrated operational mechanism, enabling greater flexibility in expansion, production, and export.The Authority is also working to enhance its investment services by simplifying procedures, expanding digital services, and improving investor experience from establishment through to operation.As part of strengthening national competitiveness, QFZ is focusing on reinforcing economic and logistical integration between the free zones and national infrastructure at ports and the airport, creating a coherent operational network that facilitates the movement of goods and supports companies' expansion into regional and global markets.The authority also seeks to develop a regulatory and operational framework that enables investors to establish centres of excellence and research and development facilities in the free zones, in co-operation with universities and national institutions. This aims to enhance innovation, link future industries with applied research, and create high-quality job opportunities for Qatari talent.Sustainability remains a central pillar in the coming year's plans, adopting low-carbon energy solutions, enhancing environmental, social, and governance (ESG) standards, and ensuring that new projects align with the state's goals of improving energy efficiency and reducing carbon emissions.He concluded his statement to QNA by saying that these priorities aim to enhance the ability of the free zones to attract high-value investments, expand their contribution to driving economic growth, and consolidate the position of the State of Qatar as a leading global destination for investment and innovation.

Qatar Islamic Bank (QIB) has announced that its entire Private Banking team, along with members from the Product team, have successfully obtained the International Investments and Securities certification from the Chartered Institute for Securities & Investment (CISI).The achievement positions QIB among the first banks in Qatar to have a fully certified Private Banking team, further reinforcing its commitment to offering world-class expertise and qualified advisory in international investments and securities.The certification marks a significant milestone in QIB’s strategy to further elevate wealth advisory standards for high- and ultra-high-net-worth (HNWI/UHNWI) customers. It also underscores the Personal Banking Group’s commitment to strengthening its investment management and advisory capabilities, complementing QIB’s strong deposit franchise and paving the way for new avenues of sustainable growth.D Anand, general manager, Personal Banking Group at QIB, said: “This success belongs to the team. Our colleagues demonstrated exemplary teamwork, supporting one another throughout a rigorous process to ensure that everyone crossed the finish line together.“By building certified in-house wealth advisory and investment product management capabilities, the Personal Banking Group is now better positioned to serve our customers with greater depth, responsiveness, and insight.”The qualification assures HNWI and VHNWI customers that their portfolios are managed with discipline and in alignment with the highest global standards. QIB has proactively developed its Wealth Advisory and Investment Product Management capabilities to support the bank’s growth agenda across investment products, while maintaining a customer-first approach.Reaffirming its commitment to a prudent and Shariah-compliant wealth proposition, QIB continues to safeguard customers’ interests, strengthen governance, and drive sustainable growth. Building on its culture of collaboration and continuous learning, the bank will keep investing in certified human expertise and digital innovation to deliver superior client experiences and create long-term value for customers, shareholders and the wider community, in line with QIB’s business strategy, corporate governance and sustainability principles. 

The assistant undersecretary for Digital Industry Affairs at the Ministry of Communications and Information Technology (MCIT), Reem al-Mansoori, has affirmed that Qatar is steadily advancing toward strengthening its readiness for artificial intelligence (AI) and solidifying its future leadership in this field, relying on a clear national vision and long-term strategic investments in digital infrastructure.She said in the keynote address that AI is no longer an emerging technology but has become a decisive factor in revitalising the economy, transforming institutions, and accelerating societal progress.Al-Mansoori added that rapid developments, particularly in generative AI, are prompting governments and economic sectors to reimagine work methods, governance, and service delivery, pointing out that this brings great opportunities accompanied by significant responsibilities.The official said that Qatar’s interest in this field is based on the National Development Strategy and the Digital Agenda 2030, both of which define a unified vision centred on developing human capabilities, strengthening research and innovation, and steering AI to support economic diversification and improve quality of life.She noted that Qatar’s success in digital transformation is the result of decades of investment in digital infrastructure, connectivity, and reliable energy, in addition to global partnerships, making the country a competitive hub for high-performance computing and next-generation AI innovation.Al-Mansoori noted that Qatar is adopting an impact-driven approach in deploying AI, focusing on sectors capable of delivering national and regional value.She highlighted that the GovtAI Programme, led by the MCIT, serves as a unified framework enabling government entities to identify, test, and implement innovative solutions in collaboration with global technology partners.The official said that human capital is the main driver of digital transformation, highlighting that the State’s efforts will contribute to creating 26,000 jobs in the information and communications technology (ICT) sector by 2030 and building a robust knowledge-based economy.Al-Mansoori further stated that Qatar is building an AI ecosystem rooted in transparency, security, and ethical responsibility, while committing to protecting privacy, enhancing inclusivity, and ensuring that all segments of society benefit from these technologies.She noted that AI is reshaping the world at an unprecedented pace, and called on governments, the private sector, and the scientific community to co-operate with a shared vision to ensure a more sustainable and advanced future. 

Saudi Arabia’s sovereign wealth fund is looking to increase its investments in Japan to about $27bn by the end of 2030 as the kingdom looks to deepen ties in Asia and expand in areas from critical minerals to financial markets.The Public Investment Fund aims to deploy more capital after investing $11.5bn in Japan from 2019-2024, Governor Yasir al-Rumayyan said at the FII Priority Asia Summit in Tokyo Monday. He highlighted spending in public and private markets and predicted recently-launched exchange traded funds between Saudi Arabia and Japan will “go further”.“Asia is big for us. We want to have better ties, better relationships, better procurement process, access to the supply chain,” al-Rumayyan said. “Japan at some stage was one of the largest partners for Saudi Arabia and we want to get that back.”Japan is Saudi Arabia’s third-largest trading partner at present. The sovereign wealth fund expects its investments in the country to contribute as much as $16.6bn to Saudi Arabia’s gross domestic product, al-Rumayyan said. He also hopes to see more return investment to the kingdom in areas including travel and tourism.Those sectors are among six areas of priority for the $1tn PIF under its 2026-2030 investment strategy, which is set to be unveiled early next year. The board has approved that plan and will be hammering out details over the next few days at a summit on the Red Sea in Saudi Arabia, al-Rumayyan said.The comments suggest Japan will remain a priority for PIF global investment as the fund seeks to increase its annual deployment of capital to $70bn after this year. It allocated nearly $57bn across priority sectors in 2024.Saudi Arabia has been leaning more heavily into its relationships with Asian nations in recent years as it seeks to draw more foreign partners to help advance the country’s multi-trillion dollar Vision 2030 economic transformation programme.There’s been a strong emphasis on the financial sector, with multiple ETFs launched in markets including mainland China, Hong Kong and Japan to track Saudi assets over the last two years. Asian banks have emerged as major financiers for Saudi entities. In energy, Saudi Arabia is working with Japan on developing the market for blue ammonia.Additionally, the kingdom is developing Dragon Ball and anime theme parks at its Qiddiya mega entertainment city on the outskirts of Riyadh in partnership with Japan. The FII Tokyo conference held on November 30-December 1 was the second FII event ever held in Asia. 

The Qatar Financial Markets Authority (QFMA) has come out with a slew of measures, including doing away with multiple advisors for listing and determining the reference price through pre-listing auction in direct listing, as part of simplifying the procedures and attracting foreign investments.His Excellency Sheikh Bandar bin Mohammed bin Saoud al-Thani, Governor of the Qatar Central Bank and chairman of QFMA has issued QFMA’s board decision No 8 of 2025 concerning the offering and listing, and mergers and acquisitions (M&A) rules.The issuance of the new rules comes as part of the state's drive to stimulate the attraction of foreign investments, and in light of the QFMA's ongoing efforts to continuously review and develop the legislative structure regulating the Qatari capital market in line with the best practices and international standards.The QFMA merged all rules and regulations related to the offering and listing process, such as (rights issues, sukuk and bonds, funds units, book building and share buyback) into unified rules, while added a separate chapter for M&As.On offerings and subscriptions, the QFMA developed the book-building mechanism and required a single offering and listing advisor instead of the previous multiple roles (offering advisor, listing advisor); while in the case of listing, it added a mechanism to determine the reference price through a pre-listing auction in the case of direct listing.On sukuk and bonds, the QFMA made it mandatory for the company to appoint a trustee to protect the rights of investors in such instruments.The QFMA stipulated the requirement of two years before requesting the transfer to the main market from the junior bourse.About disclosure and transparency; the QFMA made it mandatory to disclose in both Arabic and English. It set additional controls and procedures in case of postponing disclosure to align with international practices and obliging companies to keep lists of insiders and prevent their trading during the ban period.In the case of restrictions of founders and major shareholders, the QFMA said in the direct listing on the second market, the sale of up to 30% was allowed during the first year.On M&A, it said the acquisition articles shall apply in the case of the acquisition of shares of a listed company (not in the case of the acquisition of a private company) and regulating the reverse acquisition mechanism. It made it mandatory of the compulsory offer when 90% is reached (minority consent is not required).As per the new rules, the REITs (real estate investment trusts) have been allowed to borrow up to 50% of gross asset value.The key objectives are simplifying the procedures for listing and offering companies on Qatari financial markets and facilitating them for the issuers, enhancing the growth and diversity of the national economy and contributing to the advancement of our capital markets to developed markets, and promoting dealers' confidence, developing regulations and procedures, and providing a safe and sustainable investment environment."Such new rules will contribute to addressing any challenges that may face the Qatari capital sector, and will contribute to enhancing the growth and diversity of the national economy, as well as contribute to enhancing the advancing of our capital markets to the rank of developed markets, especially in light of the development of the Qatari capital market and the qualitative leaps it has achieved over the past few years," Sheikh Bandar said.Dr Tamy bin Ahmad al-Binali, chief executive officer of QFMA, said it had presented the rules for public consultation in April last year, inviting all participants dealing in the Qatari financial markets to review the proposed new draft rules, express opinions on its contents, and provide their comments and suggestions.The desired objectives of any proposed legislative draft to develop the legislative structure of the Qatari capital market will only be achieved through fruitful co-operation and continuous support and assistance from all entities subject to the QFMA's jurisdiction, professionals dealing in the financial markets and companies listed therein, as well as investors dealing in the capital markets, according to him. 

Doha is steadily cementing its position as a competitive player in the global AI and technology race, supported by strategic investments from the Qatar Investment Authority (QIA), according to the Boston Consulting Group (BCG).These include the establishment of a $3bn global platform with Blue Owl Capital to accelerate international AI and cloud infrastructure expansion, as well as QIA’s participation in Anthropic’s $13bn funding round, BCG said in its report presented at the Mobile World Congress, which concluded Wednesday.These initiatives underscore Qatar’s commitment to advancing its digital capabilities and align closely with the ambitions of the Qatar Digital Vision 2030, it said in the report “AI Data Centers: An Opportunity in the Middle East”.“Qatar’s digital ambition is rapidly taking shape, driven by decisive leadership and a deep commitment to innovation. In line with Qatar National Vision 2030 and Qatar’s Third National Development Strategy, the country is harnessing AI and emerging technologies to cement its role as a competitive force in the global digital economy," said Harold Haddad, managing director and senior partner.The report revealed that the Middle East is rapidly positioning the region as a rising global nexus for AI data centre investment and innovation. As global demand for AI infrastructure accelerates, with data centre power needs projected to grow from 86GW (Gigawatt) in 2025 to 198GW by 2030, BCG finds that the Middle East has a uniquely competitive advantage in supplying scalable, cost-efficient AI compute capacity.Highlighting that the Middle East is not merely participating in the global AI infrastructure race; it is fast emerging as a critical new hub of AI data centre development; it said the region benefits from distinctive structural advantages.Its strategic geography places it within a 2,000-mile radius of over 3bn people, enabling it to serve Europe, Asia, Africa, and the Global South with non-latency-sensitive AI inferencing at scale.Competitive cost structures, including up to 50% lower leasing rates, low power tariffs, and advanced cooling systems adopted by regional operators, significantly reduce the total cost of ownership, BCG said, adding meanwhile, markets such as the UAE and Saudi Arabia continue to accelerate time-to-market for new data centres through fast-track development, dedicated investment teams, and special economic zone clusters such as Masdar City’s Stargate Campus."This momentum is reinforced by the region’s expansive land availability, scalable power ecosystems, and the planned ~720Tbps Fibre in the Gulf (FIG) submarine cable project," it said.Thibault Werlé, managing director and partner at BCG said the Middle East is undergoing a pivotal transformation as it positions itself to become a global hub for AI infrastructure."With strategic investments, progressive digital policies, and ambitious national visions across Qatar, the UAE, and Saudi Arabia, the region is building the foundation for scalable, next-generation AI compute," he added.The report outlines major national initiatives shaping the Middle East’s AI infrastructure landscape. Saudi Arabia has launched HUMAIN with a targeted 1.9GW AI data centre capacity, along with partnerships with NVIDIA, AMD, AWS, DataVolt, and Groq to develop multi-hundred-megawatt AI campuses, including the world’s largest AI compute centre.The UAE is advancing a 5GW AI campus in Abu Dhabi under the US-UAE AI Acceleration Partnership and is importing 500,000 GPUs for regional and US partners, supported by Microsoft’s $15.2bn AI and cloud infrastructure investment."Qatar’s strategic investments complement these national efforts and reinforce a GCC-wide push toward establishing a global AI compute corridor," the report said.With its strategic geography, favourable economics, and ambitious national digital agendas, the Middle East is uniquely poised to emerge as a global AI data centre powerhouse — particularly for regions requiring scalable and cost-efficient AI compute such as the Global South. 

Ahli Bank (a Qatari public shareholding company) successfully issued QAR 500 million in debt securities to international and local investors through ABQ Finance limited company (a special-purpose company) owned fully by Ahli bank.In a statement published on the Qatar Stock Exchange (QSE) website, the bank explained that the issuance is part of its USD 2 billion Medium-Term Note (MTN) program.

Qatar Chamber acting director general Ali Bu Sherbak al-Mansouri held a meeting with Linda Sultan, director general of the Tripoli and North Lebanon Chamber of Commerce, Industry, and Agriculture, to review trade and economic co-operation relations and ways to enhance them.The meeting, held in the presence of Ali Hamad al-Marri, director of the Department of Committees and Business Councils Affairs at the chamber, also reviewed means to promote joint and mutual investments that contribute to increasing trade exchange between Qatar and Lebanon.Al-Mansouri emphasised the depth of fraternal relations between Qatar and Lebanon, saying Qatari businessmen are keen to expand their investments in Lebanon. He also cited the ongoing co-operation between the business sectors of both countries.He stressed the chamber’s commitment to encouraging Qatari businessmen to explore investment opportunities in Lebanon, noting the strong and long-standing relations between the Qatar Chamber and the chambers of commerce in Lebanon.Similarly, Sultan praised the distinguished relations between both countries, expressing her aspiration to strengthen co-operation between the Tripoli and North Lebanon Chamber and the Qatar Chamber in various fields that serve the business communities in both countries.

The ninth edition of the Future Investment Initiative (FII9) conference sessions officially began Tuesday in Riyadh, Saudi Arabia, under the theme "The Key to Prosperity."In his opening remarks, Governor of the Public Investment Fund, Chairman of Saudi Aramco Board, and Chairman of the Board of Trustees of the FII Institute Yasir Al-Rumayyan hailed the conference as the world's preeminent gathering for those with the vision to translate ideas and investments into tangible global impact."Deals worth more than $250 billion have been concluded through this platform since the conference's inception less than a decade ago," he stated. "Together, we have come a long way, but this year we must take our impact to even greater heights."He stressed the gravity of the moment, noting that the collective power of capital represented by the decision-makers present "imposes a great responsibility on us, and at the same time, gives us a greater opportunity to shape the future of the global economy. We must assume this responsibility and seize this opportunity without delay."He pointed out that investors and companies now face a new economic reality and swift technological transformations. The old models that propelled us to this stage, he argued, can no longer keep pace. "Governments cannot correct the course alone, and the private sector cannot bear the burden alone," he said. "The solution lies in the combined efforts of governments and the private sector as true partners. We need a new model and global cooperation that keeps pace with a new era of shared prosperity."Al-Rumayyan emphasized that FII is the ideal platform to unite world leaders, investors, and decision-makers from diverse sectors. He cited that the global GDP has surpassed $111 trillion and is expected to grow by $2.8% this year. However, he highlighted a critical disconnect revealed in this year's FII annual priorities report. While 66% of people feel positive about their lives, only 37% are optimistic about the world's future, and 69% worry about job loss due to foreign competition, he said. "This gap between individual hope and collective doubt represents a warning," he cautioned.He proposed that technology could help bridge this divide, provided it is accessible to all. Yet, he noted, three out of four people fear that artificial intelligence will widen the educational gap between societies with educational opportunities and those without. "We cannot allow this to happen. We must confront the inequalities that have hindered progress," he asserted, noting that in 2025, nearly 10% of the world's population-approximately 808 million people-will live in extreme poverty. "With every challenge comes an opportunity to find solutions that serve all of humanity," he concluded.

Asian equities staggered into the weekend on Friday following a mixed week that saw an agreement on a Middle East ceasefire and huge new AI investments play off against the US shutdown and concerns about a tech bubble.In Tokyo, the Nikkei 225 closed down 1.0% to 48,088.80 points; Hong Kong — Hang Seng Index ended down 1.7% to 26,290.32 points and Shanghai — Composite closed down 0.9% to 3,897.03 points Friday.While some markets hit record highs along with gold and bitcoin, talk is growing that valuations among some companies may have run too high, sparking talk of a pullback.Buying sentiment got another boost this week from news that ChatGPT-maker OpenAI had signed multi-billion-dollar chip deals with South Korean titans Samsung and SK hynix as well as US firm AMD.The spending added to the hundreds of billions already pumped into the sector as firms look to get ahead on the sphere of artificial intelligence.That in turn has seen investors flood into the tech sector, sending stock prices rocketing — with US chip leader Nvidia topping a $4tn market capitalisation.However, there are rumblings that the rally could run out of steam, causing jitters on trading floors."Some areas of the market appear overheated," said Keith Lerner at Truist Advisory Services.Such worries have been part of the reason behind the rally in gold to a record above $4,000 on Wednesday.Alexandra Symeonidi, corporate credit analyst at William Blair, wrote: "Given the strong rally in tech stocks some market participants started to question the sustainability of the price momentum and were driving parallels with recent bubbles."So, while the overall market has been healthy, investors have been adding hedges in what is broadly considered to be a safe haven asset." Still, Pepperstone's Michael Brown remained upbeat on equities and saw plenty of upside."My view remains that dips in the equity complex should still be viewed as buying opportunities, with the 'path of least resistance' continuing to lead higher amid resilient underlying economic growth, robust earnings growth, and a looser Fed policy backdrop," he wrote in a commentary.Gold has since fallen sharply, helped by profit-taking as well as a breakthrough in Gaza peace talks and a strengthening dollar.All three main indexes on Wall Street ended in the red, and Asia largely followed suit.Hong Kong, Tokyo and Shanghai were among the biggest losers, while there were also retreats in Sydney, Singapore, Wellington, Bangkok and Manila. London was down, though Paris rose with Frankfurt.Seoul, however, rallied more than 1% thanks to a surge of more than 6% in Samsung on optimism about its AI chips and memory business.Mumbai and Jakarta were also up.On currency markets, the yen rose against the dollar after the junior partner in Japan's ruling coalition said it was leaving the alliance with the ruling Liberal Democratic Party.The move comes days after the LDP elected stimulus-friendly Sanae Takaichi as its new leader, putting her on course to become prime minister.Komeito chief Tetsuo Saito reportedly told Takaichi that her answers on the LDP's recent slush fund scandal were unsatisfactory. The move will likely make it difficult for the LDP to pass key legislation, including spending.Tokyo's Nikkei 225 stock surged this week on Takaichi's election, which stoked hopes for more stimulus measures and a push for easier monetary policies from the Bank of Japan. Futures in the index tumbled on Friday.Adding to the unease across markets is the standoff in Washington that is expected to see a US government shutdown run into a third week, with both sides showing no sign of backing down.Republican Senate Majority Leader John Thune indicated a weekend session was unlikely, according to news website Semafor. The Senate was due to be in session on Friday, with an eighth vote on the House-passed bill tipped to fail.Donald Trump repeated threats to slash government programmes popular with Democrats as he berated the party over the shutdown at a cabinet meeting."The Democrat shutdown is causing pain and suffering for hardworking Americans, including our military, our air traffic controllers and impoverished mothers, people with young children, people that have to live not the greatest of lives," he said.Democrats are privately preparing a shutdown lasting several more weeks, CNN reported, if Republicans do not agree to their demands to extend health care subsidies due to expire on December 31.

The dizzying investments in artificial intelligence infrastructure do not constitute a bubble but are rather today's "new normal" to meet rising user demand, Fidji Simo, OpenAI's de facto number two, said Monday."What I am seeing here is a massive investment in computing power, (with) us meeting (this need) for computing power so incredibly badly for a lot of use cases that people want," Simo told AFP in her first interview since she took office August 18 as Chief Operating Officer of OpenAI's applications, including its flagship model ChatGPT."From that perspective, I really do not see that as a bubble. I see that as a new normal, and I think the world is going to really switch to realizing that computing power is the most strategic resource."