Nvidia faces fresh scrutiny over its role in a US chip-smuggling investigation, while Asian AI-linked shares rebound. The company is also under pressure from concerns around China exposure, even as investors return to chipmakers after the recent selloff. Al Dhabi Capital’s Rashmi Garg says she remains cautiously constructive on Nvidia.
Oil falls toward August lows as hopes for US-Iran diplomacy improve. Trump says military action against Iran may not be necessary, while talks continue around Hormuz and wider regional de-escalation. UAE adviser Anwar Gargash warns the region should still prepare for a prolonged period of uncertainty.
ADNOC Gas reports stronger-than-expected third-quarter profit, supported by growth across its businesses. CFO Peter van Driel says the company is still evaluating opportunities in Fujairah. FAB is also reported to be considering a multibillion-dollar rights issue.
Russia and Ukraine send delegations to Abu Dhabi for US-mediated talks, while Washington continues to push diplomacy with Iran.
Anthropic withdraws an IPO filing, adding to uncertainty around the AI funding cycle. Jane Fraser of Citi discusses the AI buildout and says sentiment around the technology appears more positive in China than in the US.
China’s imports expand at their fastest pace since 2021 and the trade surplus tops $1 trillion again. Moonshot is also reported to be renting Nvidia’s most advanced AI chips in China.
Elsewhere, QatarEnergy buys a 25% stake in a Chevron exploration block in Namibia, the Ugandan shilling weakens after rates are left unchanged, and Emirates President Tim Clark says the war has delayed his retirement plans. Guests includes Rashmi Garg, Al Dhabi Capital Senior Portfolio Manager and Peter van Driel, ADNOC Gas CFO.
Horizons Middle East & Africa is your daily spotlight on one of the world’s fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg.
Chapters:
00:00:00 – Introduction
00:04:51 – Nvidia Intervened in US Chip-Smuggling Probe
00:09:41 – Rashmi Garg, Al Dhabi Capital Senior Portfolio Manager
00:15:51 – Peter van Driel, ADNOC Gas CFO
00:28:36 – US-Iran Diplomacy Gains Momentum
00:31:49 – Russia, Ukraine Envoys Meet for Talks in UAE
00:34:31 – Anthropic Set to IPO Despite AI Concerns
00:38:20 – Jane Fraser, Citi Chair & CEO
00:42:10 – QatarEnergy Adds Chevron Block in Namibia
——–
More on Bloomberg Television and Markets
Like this video? Subscribe and turn on notifications so you don’t miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9
Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more.
Connect with Bloomberg Television on:
X: https://twitter.com/BloombergTV
Facebook: https://www.facebook.com/BloombergTelevision
Instagram: https://www.instagram.com/bloombergtv/
Connect with Bloomberg Business on:
X: https://twitter.com/business
Facebook: https://www.facebook.com/bloombergbusiness
Instagram: https://www.instagram.com/bloombergbusiness/
TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en
Reddit: https://www.reddit.com/r/bloomberg/
LinkedIn: https://www.linkedin.com/company/bloomberg-news/
More from Bloomberg:
Bloomberg Radio: https://twitter.com/BloombergRadio
Bloomberg Surveillance: https://twitter.com/bsurveillance
Bloomberg Politics: https://twitter.com/bpolitics
Bloomberg Originals: https://twitter.com/bbgoriginals
Watch more on YouTube:
Bloomberg Technology: https://www.youtube.com/@BloombergTechnology
Bloomberg Originals: https://www.youtube.com/@business
Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake
Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol
Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts