Latest news with #USUAE
Arab News
2 days ago
- Business
- Arab News
UAE foreign minister holds talks with US counterpart in Washington
LONDON: UAE Minister of Foreign Affairs Sheikh Abdullah bin Zayed Al-Nahyan held talks on Wednesday with his US counterpart Marco Rubio at the US Department of State headquarters in Washington, D.C. The meeting focused on enhancing strategic ties to support shared interests, according to the Emirates News Agency. They assessed collaboration in the economic, commercial, scientific, advanced technology, and artificial intelligence sectors, along with the results of US President Donald Trump's recent visit to the UAE in May. Sheikh Abdullah said that the US is a key strategic ally of the UAE, and the UAE will work with the US to promote peace and stability both in the region and globally. During the meeting, Sheikh Abdullah and Rubio also discussed regional developments. The meeting was attended by Yousef Al-Otaiba, UAE ambassador to the US; Lana Zaki Nusseibeh, assistant minister for political affairs; Saeed Mubarak Al-Hajeri, assistant minister for economic and trade affairs; and Dr. Maha Taysir Barakat, assistant minister for medical affairs and life sciences at the Ministry of Foreign Affairs.
The National
19-05-2025
- Business
- The National
UAE Defence Ministry signs military partnership with US
The UAE's Ministry of Defence on Monday announced a major defence partnership with the US. The letter of intent was signed by Mohammed Al Mazrouei, Minister of State for Defence Affairs, and US Secretary of Defence Pete Hegseth at a ceremony held at the ministry's headquarters in Abu Dhabi. 'This letter of intent represents a joint commitment to develop a structured road map aimed at enhancing joint military co-operation, capacity development and achieving long-term defence alignment between the two countries,' read a joint statement released by the Pentagon on Monday. 'The two sides will collaborate on a phased framework to enhance bilateral force readiness, increase interoperability and deepen innovation-driven co-operation.' As part of the partnership, the US Defence Innovation Unit will work on a new strategic initiative with the UAE's Tawazun Council, the country's defence and security acquisitions authority. This collaboration will enable joint research and development while expanding industrial and investment partnerships, the UAE ministry said. A partnership with the Texas National Guard was also announced, with the UAE joining the US National Guard Partnership Programme. This will strengthen co-operation on integrated air and missile defence, cybersecurity, disaster response, and operational planning. It follows Us President Donald Trump's high-stakes tour of the Gulf last week, marking what regional observers view as a significant reset in relations between Washington and its Arab allies. The US leader secured $2 trillion worth of commercial deals and investment pledges for the US, the White House said, with a focus on sectors including aviation, artificial intelligence, technology, defence and energy. In a video posted on Sunday, Mr Trump spoke of a special relationship with the "amazing" UAE while predicting that the Emirates will become a global leader in artificial intelligence. 'You're an amazing country,' Mr Trump said. 'You're a rich country. You can have your choice, but I know you'll never leave my side, and you know the special relationship that we and our country has. We have now, I think, substantially over $10 trillion of investment, and now when I add the $1.4 trillion we easily break that number.' 'We really appreciate your confidence and investment, that's your biggest investment that you've ever made, and we really appreciate it. And we're going to treat you very, as you should be, magnificently,' he added. Speaking about President Sheikh Mohamed, he said: "You're a magnificent man and it's an honour to be with you.'
Yahoo
18-05-2025
- Business
- Yahoo
Wedbush Sees Strong Blackwell Ramp, Reiterates Outperform Rating on Nvidia (NVDA) Stock
We recently published a list of . In this article, we are going to take a look at where NVIDIA Corporation (NASDAQ:NVDA) stands against other trending AI stocks on Wall Street right now. US President Donald Trump wrapped up his tour of the Middle East today, concluding numerous high-profile deals and diplomatic engagements with countries such as Saudi Arabia, Qatar, and the United Arab Emirates (UAE). On his last stop of the Gulf tour, Trump inked a massive AI data centre project where the two countries will be partnering on an artificial intelligence campus. Trump noted that the United Arab Emirates and the United States had agreed on a path for the Gulf country to buy advanced AI semiconductors from U.S. companies. This marks a significant step forward in Abu Dhabi's efforts to become a global AI hub. The AI agreement 'includes the UAE committing to invest in, build, or finance U.S. data centres that are at least as large and as powerful as those in the UAE.' READ ALSO: and . Trump also pledged to strengthen U.S. ties to the United Arab Emirates, announcing deals with the Gulf state totalling over $200 billion. The two countries have agreed to deepen cooperation in artificial intelligence. The US and UAE have agreed to establish a 'US-UAE AI Acceleration Partnership' framework. Trump and Sheikh Mohamed also attended the unveiling of the new 5GW AI campus. This would be the largest outside the United States. However, the countries did not specify which AI chips from Nvidia or other companies could be included in the data centres. 'In the UAE, American companies will operate the data centers and offer American-managed cloud services throughout the region. The agreement also contains strong security guarantees to prevent diversion of U.S. technology.' For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. The hedge fund data is as of Q4 2024. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). A close-up of a colorful high-end graphics card being plugged in to a gaming Corporation (NASDAQ:NVDA) specializes in AI-driven solutions, offering platforms for data centers, self-driving cars, robotics, and cloud services. One of the most notable analyst calls on Friday, May 16, was for Nvidia Corporation. Wedbush reiterated the stock as 'Outperform,' stating that the supply chain checks show that Nvidia's Blackwell chip continues to ramp up. 'We believe Nvidia Blackwell builds continue to ramp: Our recent conversations, hyperscale reports, and CoreWeave's update all point to strength in forward capex.' Analysts on Wall Street currently have a consensus 'Buy' rating on the stock. The average price target of $160 implies a 18% upside, however, the Street-high target of $235 implies an upside of 75%. Overall, NVDA ranks 4th on our list of trending AI stocks on Wall Street right now. While we acknowledge the potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVDA and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: and . Disclosure: None. This article is originally published at . Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CBS News
16-05-2025
- Politics
- CBS News
Trump says he'll meet with Putin on Ukraine war "as soon as we can," amid low hopes for Ukraine-Russia talks
Trump applauds Middle East trip, says Ukraine talks won't progress until he, Putin "get together" Abu Dhabi, United Arab Emirates — President Trump said Friday that he's moving to set up direct talks with Russian President Vladimir Putin as soon as he can, after Putin opted to skip peace talks between Russia and Ukraine in Turkey. "I think it's time for us to just do it," Mr. Trump told reporters as he wrapped a four-day visit to the Middle East. Later, he told reporters on Air Force One, setting off on the journey back to Washington, that he might call Putin soon. "He and I will meet, and I think we'll solve it or maybe not," Mr. Trump said. "At least we'll know. And if we don't solve it, it'll be very interesting." President Trump attends the U.S.-UAE Business Council in Abu Dhabi, United Arab Emirates, May 16, 2025. Waleed Zein/Anadolu/Getty The president reiterated that he wasn't surprised by Putin's decision to skip the talks taking place Friday in Turkey. Putin didn't want to go because he's not there, Mr. Trump said. Meetings between Ukrainian and Russian delegations did get underway in Istanbul Friday, but there was little expectation of any breakthrough as Putin sent a lower-level delegation, drawing accusations from Ukraine and its European partners that Moscow wasn't really interested in a negotiated resolution to the war. Mr. Trump said he would hold a meeting with Putin, "as soon as we can set it up." "I would actually leave here and go," he said, noting that his daughter Tiffany just gave birth to her first child. "I do want to see my beautiful grandson." Ukrainian President Volodymyr Zelenskyy agreed to take part in the talks as Mr. Trump pressed for the leaders to find a solution to the war, ongoing since Russia's February 2022 full-scale invasion of Ukraine. But Putin spurned the call to meet face-to-face with Zelenskyy. Mr. Trump has pressed both sides to quickly come to an agreement to end the war. Zelenskyy has agreed to an American plan for an initial 30-day halt to hostilities, but Russia has not signed on and has continued to strike at targets inside Ukraine. Firefighters extinguish a fire at a plastic tableware business damaged by a Russian drone attack, May 15, 2025, in Velyka Chernechchyna, Sumy Oblast, Ukraine. Oleksandr Oleksiienko/ Images Ukraine/Getty "He didn't go, and I understand that," Mr. Trump said Friday of Putin's decision to skip the talks in Istanbul. "We're going to get it done. We got to get it done. Five thousand young people are being killed every single week on average, and we're going to get it done." The U.S. president told reporters on Thursday that a meeting between himself and Putin was crucial to breaking the deadlock. "I don't believe anything's going to happen, whether you like it or not, until he and I get together," Mr. Trump said. "But we're going to have to get it solved because too many people are dying." Speaking to reporters in Moscow on Friday, Kremlin spokesman Dmitry Peskov said any meeting between Putin and Mr. Trump would have to be "well prepared" for, but he said such an encounter was indeed necessary in Russia's view, as "a serious conversation on international issues is needed, including the Ukrainian crisis." Should the talks in Istanbul fail to make any progress, Zelenskyy said Friday that there should be a "strong reaction," as it would be clear, in his view, that Russia does not have any interest in ending the war.
Emirates 24/7
15-05-2025
- Business
- Emirates 24/7
UAE, United States: Historic ties propelling partnership towards bright future
Marking nearly half a century of robust and evolving diplomatic relations, the visit of the President of the United States Donald Trump to the United Arab Emirates underscores a pivotal moment in the enduring strategic partnership between the two nations. The visit is strategically designed to deepen bilateral cooperation across a spectrum of vital sectors, advancing the mutual aspirations of the two nations for development and shared prosperity. This significant occasion is further contextualised by the UAE's position as the United States' foremost trading partner in the Middle East and North Africa, as reported by the Ministry of Economy. White House Press Secretary Karoline Leavitt described the visit as a "historic return to the Middle East". Analysts view Trump's choice of the Gulf as his first stop once again as a reaffirmation of the region's critical role across various domains. Bilateral diplomatic relations were established shortly after the formation of the UAE in 1971, with the UAE Embassy in Washington inaugurated in 1974, followed by the opening of the US Embassy in Abu Dhabi the same year. The UAE–US cooperation spans multiple areas, most notably development, politics, security, economy, trade, military, and partnerships tied to the Abraham Accords. The two countries have successfully laid strong foundations for long-term economic collaboration and forged innovative partnerships in emerging fields such as artificial intelligence, food security, clean energy, space exploration, and other priority areas in science, education, and culture. Economic Relations The UAE and the US enjoy privileged economic and investment relations. According to the UAE Ministry of Economy, non-oil foreign trade between the two nations amounted to $32.8 billion in 2024. The US ranked as the UAE's 6th largest global trade partner and the top one outside Asia, accounting for 4 percent of the UAE's non-oil trade in 2024. The UAE is also a major investor in the United States, with investments estimated at $1 trillion, spanning sectors such as trade, aviation, manufacturing, energy, advanced technology, and artificial intelligence. Artificial Intelligence Collaboration between the UAE and the US in AI has seen remarkable progress, driven by a strategic vision focused on fostering innovation and expanding digital infrastructure, in line with harnessing AI technologies to shape humanity's future. In 2024, the two nations signed multiple partnership and investment agreements in technology and AI. In April 2024, G42, the UAE's leading AI technology holding company, and Microsoft announced a $1.5 billion strategic investment from Microsoft in G42. In June 2024, World Wide Technology, a leading US-based tech integrator, signed a strategic agreement with NXT-Global to establish and develop the first AI integration centre in Masdar City. In September 2024, the UAE and the US announced framework promoting AI cooperation. In February, G42 and Microsoft launched the 'Responsible AI Foundation,' the first of its kind in the Middle East, aimed at promoting responsible AI standards and best practices in the Middle East and Global South. In March, several agreements were announced. BlackRock, Global Infrastructure Partners, Microsoft, and UAE-based MGX — a leader in supporting and accelerating AI and advanced tech development — announced the inclusion of NVIDIA and xAI in the Global Partnership for AI Infrastructure Investment, which has since been renamed 'AI Infrastructure Partnership' (AIP). The partnership aims to raise $30 billion in capital from investors, asset owners, and companies, which in turn will mobilise up to $100 billion in total investment potential when including debt financing Additionally, the UAE's investment firm 'ADQ' and US-based Energy Capital Partners — the largest private firm in power generation and renewable energy — entered into a 50/50 joint venture to invest $25 billion in new power generation projects in the US. Space Sector The UAE's launch of the 'Hope Probe' in 2021 bolstered scientific cooperation in space exploration with the US, notably through a new mission to the asteroid belt in collaboration with the University of Colorado Boulder. Moreover, the UAE plays a key role in NASA's Lunar Gateway project, where it will develop a crew and scientist airlock module. The UAE also plans to send its first astronaut to lunar orbit. The module, vital for astronaut safety and mission operations, is scheduled for launch by 2030. Follow Emirates 24|7 on Google News.
