The UAE has joined the US-led Pax Silica initiative that seeks to secure the AI and semiconductor supply chain, following the signing of a declaration at the Zayed National Museum in Abu Dhabi on Wednesday.
The coalition focuses on the advancement and innovation of compute, silicon, minerals and energy as shared strategic assets.
It was signed by UAE Minister of State Saeed Al Hajeri and US Under Secretary of State for Economic Affairs Jacob Helberg in the presence of UAE Minister of Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi.
Al Hajeri highlighted how the UAE is among the first countries invited to join the declaration, having attended the launch of Pax Silica in Washington last December.
He added that the UAE looks forward to work with the US and other signatory members to ensure that AI remains a driver for promoting prosperity.
Helberg emphasised on the significance of the strategic partnership as a representation of the structural shift in the economic system of the region, indicating the Gulf’s transition to a structure based on the foundations of sustainability.
He also extended an official invitation signed by US President Donald Trump and Secretary of State Marco Rubio for the UAE to participate in the Ministerial Meeting on Critical Minerals scheduled to be held in Washington in February.
Volkswagen's supervisory board has approved a transformation plan on Thursday that will include cutting another 50,000 jobs in its attempt to counter painful tariffs, overcapacity, and aggressive Chinese rivals.
The UAE Ministry of Economy and Tourism has outlined new regulations aimed at strengthening the fight against commercial fraud, protecting consumers and improving market oversight.
Apple is facing a £2 billion ($2.7 billion) London lawsuit brought on behalf of app developers over its app tracking rules, with the iPhone maker accused of abusing its power to unfairly impose greater restrictions on third parties.
Shares in online fast-fashion retailer Shein have fell 8 per cent in their first day of Hong Kong trade on Tuesday, with investors worried about the impact of setbacks that long delayed its listing and have undermined its competitive advantages.
Welcome to Pinoy Bulletin, your go-to source for staying informed about important announcements, exciting group activities, community events, and job opportunities!