French artificial intelligence startup Mistral has unveiled its new open-weight model, Mistral Large 4, during an event in Abu Dhabi. Chief Executive Officer Arthur Mensch claimed the model outperforms Chinese alternatives in specific domains, including cybersecurity. The open-weight model is scheduled for general public release on October 27.
Ant International and HSBC have expanded their collaboration to provide real-time treasury management services across the Middle East using HSBC's Tokenised Deposit Service. The companies completed pilot transactions connecting the UAE and Hong Kong for domestic dirham and cross-border US dollar transfers. Ant International is HSBC's first corporate client in the Middle East to utilise the tokenised deposit infrastructure.
Kenmare Resources shares surged 36% after confirming a non-binding cash takeover proposal from Abu Dhabi-based International Resources Holdings RSC Ltd (IRH). The London- and Dublin-listed mineral sands producer stated that discussions are ongoing, though a firm offer remains uncertain. The market move values the titanium feedstock producer at approximately £220 million.
Speaking at the Ai Everything conference in Abu Dhabi, Mistral AI CEO Arthur Mensch stated that independence from the United States and China is driving the firm's growth across the Gulf and Asia-Pacific. Mensch claimed the company's latest model outperforms Chinese models in cybersecurity, pointing to substantial market demand for alternative technology suppliers.
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