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"We're entering this transition from a position of strength and bringing real-world experience to meet the demands of the AI factory".
Learn more about @Vertiv's alignment with @nvidia below.
https://www.tahawultech.com/channel/vertiv-confirms-strategic-alignment-with-nvidia/
#Vertiv #NVIDIA #tahawultech
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Khaleej Times
38 minutes ago
- Khaleej Times
Gold demand to hit new highs as central banks pivot away from dollar holdings
Central banks are diving headfirst into gold, driving demand to unprecedented heights as they pivot away from the US dollar in a bold de-dollarisation push. This strategic scramble for the yellow metal, fuelled by geopolitical tensions, economic uncertainty, and dwindling trust in traditional safe-haven assets, is set to propel gold demand to record levels in 2025, with prices soaring to new peaks. The current gold-buying spree is not happening in a vacuum. It coincides with a dramatic surge in gold prices, which have already risen 29 per cent year-to-date, hitting an all-time high of $3,500 per troy ounce in April. Despite the price rally, demand from central banks has remained resilient. Economists and precious metals analysts argue that the global gold rush — led by the very institutions that once anchored their wealth in dollars — reveals a profound transformation in the architecture of international finance. Metals Focus, a leading consultancy, reported that first-quarter buying in 2025 was in line with the 2022–2024 quarterly average, underscoring persistent demand even at elevated price points. The consultancy projects in its annual gold market outlook that central banks will snap up 1,000 metric tons of gold in 2025, marking the fourth consecutive year of robust official sector buying. While this forecast reflects an 8.0 per cent dip from the record 1,086 tonnes purchased in 2024, demand remains historically elevated, underscoring gold's enduring appeal as a politically neutral, non-liability-bearing reserve asset. Poland, Azerbaijan, and China lead the charge, with consistent inflows also noted into Iran, signaling sustained activity by the Central Bank of Iran. Metals Focus projects an average gold price of $3,210 per ounce in 2025 — a 35 per cent jump — fuelled by ongoing uncertainty and eroding confidence in the US dollar and Treasuries. The People's Bank of China has been a key player, boosting its gold reserves for the seventh straight month in May, adding 60,000 troy ounces to bring its total to 73.83 million fine troy ounces, according to recent data. This move reflects China's determined push to diversify holdings amid price fluctuations. Globally, sovereign players are acquiring roughly 80 metric tons of gold monthly, worth about $8.5 billion at current prices, analysts at Goldman Sachs Group Inc estimate. China's foreign-exchange reserves also edged up to $3.285 trillion in May from $3.282 trillion in April, signaling a broader strategy to bolster financial resilience. 'The drivers that have underpinned de-dollarisation in recent years remain firmly in place,' Metals Focus stated. President Trump's unpredictable policy stance, his public criticism of Federal Reserve Chair Jerome Powell, and the deteriorating US fiscal outlook have deepened doubts about the dollar and Treasuries as ultimate safe-haven assets. Elevated geopolitical tensions since the start of his administration have further dimmed the appeal of US assets, pushing central banks toward gold as a reliable hedge. This trend dovetails with broader concerns about the US dollar's waning global dominance. JPMorgan CEO Jamie Dimon and Tesla CEO Elon Musk have sounded alarms over fiscal instability and geopolitical risks, while Coinbase CEO Brian Armstrong has boldly suggested bitcoin could one day supplant the dollar as the global reserve currency. Meanwhile, alliances like Brics and the Shanghai Cooperation Organisation are accelerating de-dollarisation, increasingly conducting trade in national currencies to reduce reliance on the US dollar. Gold's allure extends beyond central banks. Investors, rattled by trade wars and uncertainty surrounding US assets, have flocked to the metal as a haven, propelling prices to near-historic highs. Though the rally cooled slightly with easing global trade tensions, bullion remains a cornerstone of stability in turbulent times. The World Gold Council notes that global gold demand, including jewelry, investment, and industrial uses, reached 4,899 tons in 2024, a record, and 2025 is poised to surpass this as central bank purchases sustain momentum. Exchange-traded funds backed by gold have also seen inflows, with holdings rising 5 per cent year-to-date to 3,200 tons, reflecting investor appetite. Looking ahead, the demand outlook remains robust. Metals Focus highlights that economic uncertainty, coupled with central banks' strategic shift, will keep gold in high demand. Emerging markets, wary of currency volatility and sanctions risks, are stockpiling gold to safeguard reserves. The International Monetary Fund reports that gold's share of global reserves climbed to 15 per cent in 2024, the highest in decades, and this trend is expected to persist. Analysts predict that if de-dollarisation accelerates, annual central bank demand could stabilise above 900 tons for the next five years, reinforcing gold's role as a cornerstone asset. They argue that central banks' relentless buying, paired with investor flight to safety, is rewriting the rules of global finance, positioning the yellow metal as the ultimate bulwark against uncertainty.
Emirates Woman
2 hours ago
- Emirates Woman
Apple's iOS 26 is the ultimate ‘it girl' upgrade you need, here's why
Apple's iOS 26 is the ultimate 'it girl' upgrade you need, here's why For the first time in over a decade, Apple is reinventing its operating system with iOS 26, a sleek, futuristic redesign—and it's tailor-made for the modern woman. Dubbed Liquid Glass, iOS 26 introduces luminous, translucent interfaces, intuitive camera upgrades, and AI-powered tools that streamline everything from global communication to fitness tracking. Here's how the update caters to the 'It Girl' lifestyle. The Aesthetic Overhaul Gone are the flat, static menus. iOS 26's Liquid Glass design features frosted, semi-transparent layers with dynamic, shape-shifting controls. Buttons respond to touch with fluid animations, while an all-clear mode offers a minimalist, elevated look—perfect for those who prioritize both style and function. The redesign extends across all Apple devices, ensuring seamless aesthetics whether you're on your iPhone, iPad, or Mac. Camera & Photos The Camera app gets a streamlined interface, making it easier to switch between video, photo, and panorama modes. Advanced settings remain accessible but tucked away for clutter-free shooting. Meanwhile, the Photos app reintroduces the beloved Library and Collections tabs—no more endless scrolling to find that Pilates progress pic or sunset snapshot. Real-Time Translation Texts in Messages auto-translate into the recipient's language, and FaceTime calls display live subtitles. Even phone calls become borderless: iOS 26 converts speech in real time, so you'll hear the conversation in your preferred language (iPhone 15 Pro and later). Ideal for jet-setters or multilingual group chats. Group Chats Custom backgrounds and in-chat polls finally bring order to decision-making on iMessages. Typing indicators show who's responding, sparing you from the dreaded 'Hello??' follow-ups. Fitness & Wellness While Apple didn't detail fitness-specific updates, the Liquid Glass redesign extends to Health and Activity apps, likely integrating smoother Pilates or yoga session logging. Pair it with Apple Watch's enhanced metrics for a holistic view of your routine. Spam Defense & Hold Assist Unknown texts now filter into a separate inbox, and calls from suspicious numbers are screened automatically. Hold Assist detects elevator music during calls and saves your spot in line—so you can mute, close the app, and return when a human answers. Karaoke Nights & Travel Ease Turn your iPhone into a mic for Apple TV karaoke, complete with animated lyrics and translations. For travelers, Wallet's redesigned boarding passes now share live flight updates—no more frantic 'Landed!' texts. How to get iOS 26? The official iOS 26 release arrives this fall, but you can try the public beta next month by going to Settings > General > Software Update > Beta Updates and selecting the iOS 26 Public Beta—just be sure to back up your iPhone first. While the beta offers an early look at Liquid Glass and new features, it may have bugs, so most users should wait for the stable September release, which will appear automatically in Software Update. (Pro tip: If you test the beta but want to revert, you'll need to erase your device and restore from a backup.) iOS 26 merges high-design aesthetics with pragmatic upgrades, from effortless translation to smarter messaging. While a revamped Siri is still in the works, this update ensures your iPhone is the ultimate 'It Girl' accessory. – For more on luxury lifestyle, news, fashion and beauty follow Emirates Woman on Facebook and Instagram Images: Supplied & Feature Image: Pinterest
The National
2 hours ago
- The National
UAE ranks first for AI maturity in Arab world, report says
The UAE ranks first in the Arab world in a new AI Maturity Index that examines country readiness for artificial intelligence, according to a new report from online learning platform Coursera. The 2025 Global Skills Report said the country's recent announcement of a UAE-US 5GW AI Campus - unveiled during US President Donald Trump's visit in May, along with the decision by UAE schools to begin teaching mandatory AI classes from age four - helped propel it to to the top in various areas of the report. 'The UAE is rapidly scaling AI learning and infrastructure to drive workforce transformation and regional innovation,' said Kais Zribi, Coursera's manager for Middle East and North Africa. 'Its strong performance on Coursera 's AI Maturity Index, combined with high rankings in overall skills proficiency, demonstrates the country's growing ability to close skill gaps, nurture future talent, and lead in AI readiness.' For AI maturity globally, the UAE ranked 32nd out of 109 countries, according to Coursera. Saudi Arabia ranked 37th place and Qatar placed 45th. Singapore, Denmark, Switzerland, the US and Finland ranked in the top five. In terms of overall AI skills proficiency, the UAE also ranked top in the Arab world. Coursera's report also said that with a 344 per cent increase in AI course enrolment compared to last year, the UAE outpaced the Middle East and North Africa regional average, as well as the global average AI courses selected on the company's learning platform. 'As digital transformation reshapes industries, the UAE is setting a powerful example of how nations can leverage education to build a competitive, inclusive digital economy that prepares its workforce for the future,' said Mr Zribi. Towards the end of last year, a similar report from Coursera projected that UAE interest in AI courses was on the path to grow significantly. Coursera's data for its 2025 Global Skills Report is based in part on the company's stats from its learning platform, along with 'third-party metrics to ensure a more comprehensive assessment, complementing the insights provided by Coursera data'. For the AI Maturity Index, data from the International Monetary Fund (IMF) and the Organisation for Economic Co-operation and Development (OECD) is used as well. Over the past decade, the UAE − the Arab world's second largest economy − has been open about its desire to be an AI front-runner as it diversifies its economy away from oil. The country's efforts have resulted in the establishment of start-ups as well as partnerships and investments from industry leaders like Microsoft, Nvidia and OpenAI. Through the creation of language models such as Falcon Arabic, the UAE has also sought to ensure aspects of Arabic culture are not left behind by the AI surge, with many large language models based on English-language data. AI Minister, Omar Al Olama.
