A report from Microsoft's Institute for AI Economy shows that the UAE leads global generative AI adoption with a 73.3% usage rate among its working-age population in Q2 2026. Singapore ranked second at 64.3%, while the worldwide average stood at 18.8%. The rankings measure adoption among working-age adults rather than investment volume or company counts.
Luckin Coffee appointed Philip Yifei Bao of Abu Dhabi's Mubadala Investment Company to its board on October 8, 2026. The move follows Mubadala's participation alongside Centurium Capital in an investment valued at approximately $1 billion. The Chinese coffee company has reached 100 outlets in Singapore and is evaluating expansion into the Gulf region.
China Briefing reported key transfer pricing updates across Asia and the Middle East for the second quarter of 2026. In the UAE, Ministerial Decision No. 96 of 2026 adopted the latest OECD Pillar Two guidance, while Singapore clarified rules for share-based compensation and Vietnam issued Decree No. 255/2026/ND-CP. Foreign-invested enterprises are advised to review existing intercompany pricing policies against the revised frameworks.
Singapore state investor Temasek plans to open offices in Abu Dhabi and Riyadh in the first half of 2027, pending regulatory approvals. The expansion will increase Temasek's global network to 15 offices across 11 countries, serving as strategic hubs for the firm and its portfolio companies. The move introduces heightened competition for regional investments and partnerships alongside Gulf sovereign wealth funds.
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