Arabian Post Staff -Dubai Heathrow’s chief executive has acknowledged that Istanbul Airport is poised to overtake the London hub as Europe’s busiest airport, intensifying pressure on the UK’s long-debated expansion plans. Thomas Woldbye told journalists that capacity constraints at Heathrow, coupled with Istanbul’s rapid growth and multi-runway architecture, were shaping a shift in continental air traffic rankings that could materialise as early as 2026 or 2027. This […]
Adoption of Bitcoin is expanding across institutions, banks, corporations and retail investors even as sharp price fluctuations continue to test market confidence, according to new research from River, a US-based Bitcoin financial services firm. River’s latest report argues that Bitcoin’s long-term trajectory is being shaped less by short-term volatility and more by structural shifts in how capital allocators, payment companies and sovereign actors perceive digital assets. The […]
HONG KONG SAR – Media OutReach Newswire – 25 February 2026 – Paul Chan, Financial Secretary of the Hong Kong SAR Government, delivered his 2026-27 Budget today (February 25), with a range of initiatives to support and diversify Hong Kong’s economic growth, boost innovation and technology (I&T), speed up development of the Northern Metropolis and proactively align with China’s National 15th Five-Year Plan.
The theme of the 2026-27 Budget, the fourth Budget of the current-term Government, is “Driving High-quality, Inclusive Growth with Innovation and Finance”.
Hong Kong SAR’s Financial Secretary, Paul Chan, delivers the 2026-27 Budget today (February 25)
“Over the past year, as a result of the booming economy and capital market, our tax revenue has increased. Coupled with the reinforced fiscal consolidation programme gradually bearing fruit, our public finances have improved sooner than expected,” Mr Chan said.
The Financial Secretary revealed that Hong Kong’s Consolidated Account was expected to register a surplus of $2.9 billion in the current fiscal year, instead of a deficit of about $67 billion as originally estimated. The Operating Account for 2025-26, which was originally estimated to record a deficit of about $3 billion, will register a surplus of $51.3 billion, he said.
It was also confirmed that Hong Kong’s economy expanded by 3.5% in 2025, with growth forecast to be between 2.5% and 3.5% for 2026.
Mr Chan noted that this year marks the beginning of the National 15th Five-Year Plan, and he stressed the need for Hong Kong to actively align with the Plan.
“Our country’s sustained high-standard two-way opening-up, coupled with scientific and technological innovation, have presented us with new opportunities,” he said. “We must embrace the 15th Five-Year Plan with an innovative mindset, fostering new quality productive forces in accordance with local conditions.”
Mr Chan set out a series of measures to drive I&T development, including establishing the Committee on AI+ and Industry Development Strategy; taking forward the Sandy Ridge data facility cluster project; promoting AI training; and accelerating digital intelligence transformation of the Government.
“We are pressing ahead with the industrialisation of AI and deepening its integration across various industries, while encouraging wider AI application, thereby achieving the target of adoption and utilisation by all,” he said.
The International Clinical Trial Academy will, he said, also be established to help enable the Chinese Mainland’s biomedicine technology to go global, attract foreign investment, and help develop Hong Kong into an international health and medical innovation hub.
To facilitate the development of new industrialisation, the Budget has earmarked resources for establishing in Hong Kong the first national manufacturing innovation centre outside the Mainland, and the New Industrialisation Elite Enterprises Nurturing Scheme will be launched.
The Government will promote the full integration of technological innovation and industrial innovation through key infrastructure, including the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, and the San Tin Technopole in the Northern Metropolis.
To support financial services, Hong Kong will proactively align with national development strategies, advance the internationalisation of the Renminbi, and continuously reform the securities market.
The Government will legislate this year to enhance tax regimes for family offices and funds, as well as establish licensing regimes for digital asset dealing and custodian service providers.
“Despite the complex and ever-changing external environment, Hong Kong’s financial market has performed strongly and our financial system remains robust,” Mr Chan said. “We will continue to consolidate our existing strengths, tap into emerging fields, strengthen market systems and risk control and deepen financial co-operation in the GBA (Guangdong-Hong Kong-Macao Greater Bay Area).”
Noting that Hong Kong saw a year-on-year 12 per cent increase in visitor arrivals last year, which had created business and job opportunities for related sectors, the Budget will allocate $1.66 billion (US$212 million) to the Hong Kong Tourism Board (HKTB).
“The HKTB will scale up its flagship events and promotion, introducing new elements and extending event duration, and organise more signature festive events to highlight Hong Kong’s East-meets-West uniqueness,” Mr Chan said.
The Budget also earmarks an additional funding of $1 billion (US$128 million) for the Built Heritage Conservation Fund to enrich city culture. Elsewhere, the Government will launch the Northern Metropolis Urban-rural Integration Fund as a pilot scheme to support rural tourism projects.
To further promote sports development in Hong Kong, the Financial Secretary will inject $1.2 billion (US$154 million) to the sports portion of the Arts and Sports Development Fund.
Mr Chan said that the global environment has remained volatile over the past year, and Hong Kong has continued to undergo economic transformation.
“Technological innovation, in particular the development of AI, has brought us a mix of opportunities and challenges. Yet, Hong Kong has always thrived amid changes and progressed through innovation. We must make full use of our strengths and leverage the resolute support of our country to speed up and scale up our economic development sustainably for creating better development opportunities for the people and enhancing their quality of life,” Mr Chan said.
For more details on the 2026-27 Budget, click here.
By K Raveendran The political sparring between Narendra Modi and Rahul Gandhi has entered a sharper and more consequential phase, with the balance of advantage appearing to tilt towards the Leader of the Opposition after an unexpected judicial intervention in the United States cast doubt on the durability of Donald Trump’s tariff regime. The rhetorical […]
OpenAI’s chief executive Sam Altman delivered a candid message to students at the Indian Institute of Technology Delhi, telling them that conventional career guidance may be of limited value as artificial intelligence reshapes the world of work. Speaking at an interactive session in Dogra Hall, Altman said that younger generations will have to trust their own instincts and adapt to fast-changing technological landscapes rather than relying on established rules or advice from older generations. His remarks underscored a broader debate about how work, education and ambition will evolve alongside accelerating AI developments.
Addressing a packed audience, Altman said that the “biggest mistake young people make” is listening too closely to traditional wisdom on careers passed down by their elders. He acknowledged that even he did not claim to have a firm grasp on the pace of change, urging students to cultivate independent judgment and flexibility instead. “For a predictor of what the world is going to be like going forward, I don’t think you should trust me for having good intuition of the rate of change,” he said, emphasising that those entering the workforce must be prepared to navigate uncertainty and disruption.
Altman’s comments reflected a growing consensus among technology leaders that the job market and the nature of work are undergoing fundamental transformation as generative AI and automation systems become more capable. Traditional professions that once seemed secure are being rethought, while new categories of employment linked to AI development, oversight and ethical deployment are emerging. Altman’s view was echoed elsewhere at global forums where he and other AI leaders have stressed the need for adaptability, lifelong learning and creative problem-solving.
During the session at the institute, Altman clarified that while parents and mentors remain important for personal values, their career advice – rooted in past paradigms – may not offer reliable direction amid rapid technological shifts. He said young people must develop what he called “agency,” a capacity to shape their own paths, learn from failure and recalibrate as conditions evolve. “Young people always figure this out best,” he told the students, highlighting the creative energy he sees in younger cohorts.
Altman also acknowledged that the rise of artificial intelligence will entail changes in employment structures, with some roles becoming obsolete even as new opportunities are created. He stressed that preparing for the future will require calculated risk-taking and an openness to reinventing career plans rather than adhering to criteria like stability and predictability alone. His advice resonated with students grappling with how to position themselves in a world where AI tools are becoming deeply integrated into industries from healthcare to finance.
Reactions to Altman’s remarks have been varied. Some students and observers praised his emphasis on independent thought and adaptability, seeing it as realistic guidance for navigating disruption. Others questioned whether the message might undermine confidence in tried-and-tested pathways into professions such as engineering, medicine and law that have long been valued for stability and societal contribution. This tension illustrates the broader uncertainty about how best to prepare for a future shaped by rapid technological evolution.
Altman’s visit to the institute took place against the backdrop of major international discussions about the role of artificial intelligence in economic and social life. In New Delhi last month, global tech leaders and policymakers gathered for a major AI summit focused on collaboration, governance and responsible innovation. Altman’s remarks at IIT Delhi dovetail with themes emerging from those dialogues, where experts have called for societies to rethink education systems, regulatory frameworks and workforce strategies to accommodate profound shifts driven by AI capabilities.
His message to students also reflects a generational contrast in attitudes towards technology and opportunity. Younger people, he suggested, have an inherent advantage when it comes to understanding and experimenting with emerging tools and platforms. As AI becomes more pervasive, Altman said, those who can integrate machine intelligence with human creativity and judgement will be best positioned to thrive, even as older models of career guidance lose relevance.
Lucid Group expects production growth in 2026 to moderate as it scales up its new Gravity sport utility vehicle and prepares a broader push into the midsize electric vehicle segment, cautioning that supply-chain risks and cost pressures could restrain expansion. The California-based electric vehicle maker has begun increasing output of the Gravity SUV at its plant in Casa Grande, Arizona, positioning the model as a cornerstone of […]
Arabian Post Staff -Dubai Khalifa Economic Zones Abu Dhabi has launched construction of a AED150 million baby food manufacturing facility aimed at strengthening food security, expanding local production and easing supply concentration risks in the Gulf’s infant nutrition market. The project, located within KEZAD’s industrial ecosystem in Abu Dhabi, is expected to produce a range of infant and toddler nutrition products, including powdered milk formula and fortified […]
Vast peatlands beneath the Congo Basin’s blackwater lakes are releasing carbon that has been locked away for millennia, according to new scientific findings that raise fresh concerns about the stability of one of the planet’s largest tropical carbon stores. Researchers studying Africa’s most extensive tropical peat complex have identified that a notable share of carbon dioxide escaping from the region’s dark, tannin-rich lakes originates from ancient peat […]
Jada Fund of Funds, a subsidiary of Saudi Arabia’s Public Investment Fund, is preparing to channel more capital into private credit as Gulf investors reposition their portfolios amid volatility affecting segments of the global lending market. Chief executive Bandr Alhomaly said the Riyadh-based fund has agreed to back India-headquartered venture debt manager Stride Ventures, marking a step in its strategy to widen access to alternative financing for […]
Paramount Skydance has raised its takeover offer for Warner Bros. Discovery to $31 per share, putting its bid in direct contention with Netflix and prompting the Hollywood giant’s board to reopen talks that could reshape the media landscape. Warner Bros. Discovery said it was reviewing Paramount’s enhanced proposal, which includes a higher regulatory termination fee and other financial incentives, even as it continues to recommend the existing […]
Arabian Post Staff -Dubai UAE has emerged as the fastest-growing market worldwide for artificial intelligence hiring, with demand for AI specialists accelerating sharply over the past year as Gulf economies deepen their technology push. New data from the RemotePass 2025 Hiring Report shows AI-related recruitment in the UAE climbed from 32 per cent of total tech hiring in 2023–24 to 48 per cent in 2024–25, marking […]
Any firm in the UAE must have a corporate bank account. It helps pay bills and conduct international operations. However, bank account opening in Dubai isn’t as easy as it first appears. Strict AML and verification procedures complicate the process and can delay the company’s launch for a significant period. Let’s explore how to avoid possible challenges. Key Details of Bank Account Opening in Dubai Account opening is allowed […]
South Korea’s Bithumb has added GoPlus to its Korean won market, prompting a swift surge of more than 20 per cent in the token’s price before gains eased amid heightened trading activity. The listing, announced by one of the country’s largest cryptocurrency exchanges by volume, allowed users to trade GPS directly against the won, expanding the token’s accessibility in a market known for strong retail participation. Within […]
Meta Platforms has struck a landmark long-term agreement with Advanced Micro Devices to buy tens of billions of dollars’ worth of AI processors and data-centre hardware over the next five years, a deal that could exceed $100 billion and reshape the competitive landscape for artificial-intelligence infrastructure. This multiyear pact will see Meta deploy up to six gigawatts of AMD-based computing capacity, starting with initial shipments in the second […]
Arabian Post Staff -Dubai A consortium led by Saudi Arabia’s sovereign wealth vehicle, the Public Investment Fund, alongside private equity firm Silver Lake and Affinity Partners has launched a strategic tender offer for about $1.5 billion of debt tied to Electronic Arts as part of efforts to reshape the financial structure underpinning its landmark acquisition of the gaming giant. The move could signal a shift in how major […]
Matein Khalid I dedicate this post to my dear friend Abdulla Saeed Al Naboodah who has Ferrari in his spirit, bloodstream as well as in his garages. I went gaga on the Ferrari IPO in 2015 as I viewed the world’s preeminent luxury car maker as unique since it restricted supply to an elite global community rather than peddled product to any joe who could afford a […]
Nigerian banks are entering 2026 with firmer balance sheets and improved capital buffers, positioning the sector for expansion as regulatory deadlines draw closer. Analysts at Lagos-based investment banking and research firm Chapel Hill Denham say the industry’s strengthened fundamentals provide a platform for earnings growth, credit expansion and renewed investor confidence. At the centre of this shift is the Central Bank of Nigeria’s recapitalisation directive, announced in […]
New Delhi has set a target of raising ₹1.79 trillion, equivalent to about $20 billion, through public listings of state-run enterprises by the 2029/30 financial year, signalling a recalibration of its privatisation strategy towards stake sales rather than outright transfers of ownership. The plan forms part of a wider asset monetisation programme aimed at generating $183.7 billion over the next four years, according to a report issued […]
Digital asset investment products recorded net outflows of about $288 million over the latest week of trading, extending a multi-week streak of capital withdrawals by institutional and retail investors from cryptocurrency-linked funds. This marks the fifth consecutive week of net selling in crypto fund flows, pushing total outflows to roughly $4 billion over this period and signalling ongoing pressure on risk assets within the digital-asset space. Despite […]
Bitmine Immersion Technologies, a publicly traded crypto-focused firm, has scaled its treasury to US$9.6 billion, driven predominantly by its growing Ethereum holdings and staking operations, officials announced as of 22 February 2026. The accumulation comes as the broader crypto market contends with persistent price weakness, yet Bitmine’s strategy underscores its intent to cement a dominant position within the Ethereum ecosystem and global crypto treasuries. Bitmine’s balance sheet […]
Arabian Post Staff -Dubai United Arab Emirates has published detailed electronic invoicing guidelines as authorities accelerate plans to introduce a nationwide digital billing system aimed at modernising tax compliance and improving transparency across the economy. The Ministry of Finance said the official reference document sets out the technical, operational and compliance framework that businesses must follow as the country moves towards mandatory eInvoicing. The guidance forms a […]
Arabian Post Staff -Dubai Kuwait Petroleum Corporation has opened preliminary discussions with a broad pool of global investors over the potential sale of a minority stake in its crude oil pipeline assets valued at about $7 billion, according to three people familiar with the matter, signalling a strategic shift that mirrors monetisation drives across the Gulf. The early-stage talks centre on infrastructure funds and private equity groups […]
A magnitude 5.7 earthquake struck off the coast of West Papua province in Indonesia on Tuesday, recording a shallow depth that had authorities monitoring a broad swath of Papua’s coastal communities for shaking effects, according to seismic data from international observatories. The German Research Centre for Geosciences and seismic networks reported the tremor’s epicentre in the Ceram Sea region of West Papua, with a hypocentral depth of […]
Krafton has appointed a new chief artificial intelligence officer as the South Korean games publisher accelerates efforts to embed advanced AI systems across its development studios and flagship franchises, including PUBG. The company confirmed that it has brought in a senior AI specialist with experience spanning large language models, machine learning infrastructure and applied gaming technologies to lead what it described as the next phase of its […]
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By K Raveendran The political sparring between Narendra Modi and Rahul Gandhi has entered a sharper and more consequential phase, with the balance of advantage appearing to tilt towards the Leader of the Opposition after an unexpected judicial intervention in the United States cast doubt on the durability of Donald Trump’s tariff regime. The rhetorical […]
