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Why the New Abu Dhabi MGX AI Fund Changes Global Tech Forever

The technology sector just witnessed a seismic shift. With the announcement that Abu Dhabi’s tech investment vehicle, MGX, has raised a staggering US$49 billion for a dedicated artificial intelligence fund, the global tech landscape has officially entered a new era. This is not just another venture capital pool; the Abu Dhabi MGX AI fund represents a massive institutional validation of AI as the defining economic engine of the next century. By eclipsing its original US$45 billion target, MGX isn't merely participating in the tech boom-it is aggressively positioning itself to dictate its direction. What makes the new Abu Dhabi MGX AI fund a game-changer? In my view, the sheer scale of this fund alters the venture capital ecosystem entirely. Raising US$49 billion in a climate where some tech stocks are experiencing volatility shows incredible contrarian conviction. This capital gives MGX unmatched structural leverage. The fund allows Abu Dhabi to anchor the most capital-intensive pr...

Ishaq Dar first foreign minister in 13 years to officially visit Dhaka

 


Deputy Prime Minister Ishaq Dar arrived in Dhaka on Saturday for an official two-day trip, marking the first state visit by a foreign minister to Bangladesh in 13 years, the Foreign Office (FO) said.

Ever since a popular uprising in Bangladesh saw Sheikh Hasina’s government being toppled in August of last year, there has been a thaw in ties between Islamabad and Dhaka, with trade and bilateral relations seeing a marked improvement.

According to a press release by the FO, Dar arrived in Dhaka today “on a landmark official visit from August 23-24” on the invitation of Bangladesh’s government.

was received by Bangladesh Foreign Secretary Ambassador Asad Alam Siam, High Commissioner of Pakistan to Bangladesh Imran Haider, High Commissioner of Bangladesh to Pakistan Muhammad Iqbal Khan and officials of the Pakistan High Commission, it said.

The press release added, “During the visit, the deputy prime minister will hold important meetings with the Bangladeshi leadership, including Chief Adviser Professor Muhammad Yunus, Adviser for Foreign Affairs Mr Md Touhid Hossain, and Adviser for Commerce Mr SK Bashir Uddin.

“Discussions will encompass the entire spectrum of bilateral cooperation including regional and international issues of mutual interest.”

FM Dar received a delegation of the National Citizen Party (NCP), led by General Secretary Akhtar Hossain. He appreciated the NCP leadership’s vision for reform and social justice and emphasised the need for greater interaction between the youth of Pakistan and Bangladesh.

The delegation members apprised FM Dar on different facets of countrywide political mobilisation in 2024. The FO said the two sides also discussed possibilities to promote cultural exchanges between Pakistan and Bangladesh in the days ahead.

The deputy PM also held a meeting with a delegation of Bangladesh’s Jamaat-i-Islami, led by Naib Amir Dr Syed Abdullah Mohammed Taher.

“The ways to strengthen Pakistan-Bangladesh relations and the recent developments in the region were two key areas of discussion. The DPM/FM lauded the courage and steadfastness of the Jamaat leaders and activists in the face of hardships and difficulties,” the FO said.

Earlier today, the FO wrote on X that Dar embarked on a “historic visit to Bangladesh” as the deputy premier departed from the Nur Khan Airbase in Rawalpindi. “In Dhaka, he will hold important meetings with Bangladeshi leaders,” it added.

“The visit is a significant milestone in Pakistan-Bangladesh relations as a Pakistani foreign minister is visiting Bangladesh after a gap of around 13 years,” the FO highlighted.

The last time a foreign minister paid an official visit to Dhaka was in November 2012, when Hina Rabbani Khar made a six-hour visit to Bangladesh to formally invite then-prime minister Sheikh Hasina to a summit in Islamabad later that month.

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