Global oil prices rose as the U.S. and Iran traded threats amid their seven-month war, stoking maritime security concerns in the Strait of Hormuz and Red Sea. A commercial vessel was hit in the Strait of Hormuz, leaving one crew member dead, while talks on a seven-day reopening proposal remain preliminary. Chinese President Xi Jinping has called for the conflict to be resolved through negotiations.
Brent crude climbed back over $105 a barrel amid warnings of expanding conflict between the United States and Iran. Maritime risks mounted following a fatal commercial ship strike in the Strait of Hormuz and threats to Red Sea energy routes. Diplomatic discussions during the United Nations General Assembly have produced little sign of a peace deal.
Arthur D. Little's 2026 Global Electric Mobility Readiness Index ranks the UAE 22nd globally and first in the Gulf with a score of 53. China ranked first worldwide with a score of 106, having achieved vehicle parity alongside Norway. The report found that ecosystem integration and public charging infrastructure are now defining global EV adoption competitiveness.
Chinese technology firm Alibaba announced plans to enlarge its data centre facilities in the United Arab Emirates alongside several other international markets over the next 12 months. The expansion is part of a plan to surpass 20 gigawatts of global data centre capacity by 2032 to support artificial intelligence workloads. The company also introduced a new AI chip called Zhenwu V900.
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