Tech Shares Drop While Alibaba Ups AI Spending | The Close 9/24/2025

Horizons Middle East & Africa is set to be a daily highlight for anyone interested in one of the world's most dynamic regions. Broadcasting live from Dubai, it promises to deliver the latest insights into global markets and engaging interviews, making it a valuable resource for professionals across the Gulf, Hong Kong, London, and Johannesburg. This initiative not only informs but also connects audiences with the pulse of the MEA region, emphasizing its growing significance in the global landscape.

Peter Mutharika has made a significant comeback by winning Malawi's presidential elections, marking a pivotal moment for the nation. His return is particularly noteworthy as he aims to address the corruption issues that plagued his previous administration. This development is crucial for Malawi, as it signals a potential shift towards greater accountability and governance, which could restore public trust and improve the country's political landscape.

Saudi Arabia's stock market is experiencing a surge as reports suggest the Kingdom may soon relax foreign ownership limits for listed companies. This potential change, which could raise the current cap of 49%, has investors excited about the influx of foreign capital into the Gulf nation. Frances Ames from Ajeej Capital shared insights on Bloomberg about how this shift could significantly impact capital markets in Saudi Arabia, highlighting the importance of foreign investment in driving economic growth.

Bloomberg's 'The Asia Trade' is your go-to source for essential insights as the trading day kicks off in Asia. Broadcasting live from Singapore and Sydney, hosts Avril Hong and Paul Allen provide expert analysis and commentary from key figures in the industry. This program is crucial for anyone looking to stay informed about the major developments that influence global markets.

Chinese tech firms are ramping up their AI initiatives, leading to a shift in investment perspectives, according to BNP Paribas' Jason Lui. Investors are now focusing on companies that innovate beyond just hardware, which is a promising sign for the future of the tech industry in China. This change in narrative could open up new opportunities for growth and development in the AI sector.

China's recent announcement to reduce greenhouse gas emissions by only 7% to 10% over the next decade has drawn criticism from experts who believe this target is insufficient for meaningful climate action. As the world's largest emitter, China's commitment is crucial for global efforts to combat climate change, and many argue that a more ambitious approach is necessary to achieve net zero emissions. This situation highlights the ongoing challenges in international climate negotiations and the need for stronger commitments from major polluters.

Stephen Hammer, the CEO of the New York Climate Exchange, recently discussed climate innovation at the Bloomberg Global Forum. His insights highlight the importance of innovative solutions in addressing climate change, a pressing global issue. This conversation is significant as it showcases leadership in the climate sector and emphasizes the role of collaboration and innovation in creating a sustainable future.

European Commissioner Jozef Sikela recently discussed global competitiveness and international partnerships at the Bloomberg Global Forum. His insights highlight the importance of collaboration in enhancing economic resilience and fostering innovation across borders. This conversation is crucial as it underscores the EU's commitment to strengthening its global position and building strategic alliances, which can lead to mutual benefits for all parties involved.

Alibaba's recent advancements in artificial intelligence have sparked renewed investor interest, making it the top-performing tech stock in China. With a market value of $420 billion, the company's innovative plans are not only boosting its stock price but also highlighting the growing importance of AI in the tech industry. This trend reflects a broader shift towards AI-driven solutions, positioning Alibaba as a leader in this competitive landscape.

Ambroise Fayolle, the Vice President of the European Investment Bank, recently shared insights on global development finance during a discussion at the Bloomberg Global Forum. This conversation is significant as it highlights the crucial role of financial institutions in addressing global challenges and fostering sustainable development. Fayolle's perspectives could influence future investment strategies and policies aimed at improving economic conditions worldwide.

Lane Dilg, OpenAI's Head of Strategic Partnership, recently discussed the future of global AI infrastructure and technology at the Bloomberg Global Forum. This conversation is significant as it highlights the importance of collaboration and innovation in shaping the tech landscape, ensuring that advancements in AI are beneficial and accessible worldwide.

In a recent discussion at the Bloomberg Global Forum, Sam's Club CEO Chris Nicholas shared insights on the business outlook and the role of AI in enhancing operations. His perspective highlights the positive trajectory of the company and the innovative strategies being implemented to adapt to changing market dynamics. This conversation is significant as it sheds light on how major retailers are leveraging technology to improve customer experiences and streamline processes.

Gas prices in Canada are experiencing a significant drop, thanks to seasonal changes and the removal of the consumer carbon price, which is leading to even greater savings for consumers. This is great news for drivers, as it means more money in their pockets during a time when fuel costs can be a burden. With prices heading towards some of the lowest levels of the year, many are hopeful that this trend could continue, making travel and commuting more affordable.

Baiterek National Holding has successfully completed a $500 million note offering, marking a significant milestone in its financial strategy. This move not only strengthens its capital base but also enhances its ability to support various development projects in Kazakhstan. The successful offering reflects investor confidence in the holding's future prospects and contributes positively to the financial market, showcasing the potential for growth and investment in the region.

DMG Blockchain has received a positive boost as Canaccord has assumed its stock rating with a 'Buy' recommendation and raised its target price. This is significant as it reflects growing confidence in DMG's potential for growth and profitability, which could attract more investors and positively impact the company's market position.

Rosenblatt has initiated coverage of Webull with a Buy rating and set a price target of $19. This is significant as it reflects confidence in Webull's growth potential and market position, which could attract investors looking for promising opportunities in the stock market.

Barclays has upgraded its rating for Kodiak Sciences following promising data on KSI-101, a treatment that shows potential in addressing significant medical needs. This upgrade reflects confidence in the company's future prospects and could attract more investors, highlighting the importance of innovative therapies in the pharmaceutical industry.

B.Riley has initiated coverage of the Blackstone Secured Lending Fund with a Buy rating, signaling strong confidence in the fund's performance. This is significant as it highlights the potential for investors to benefit from the fund's strategies in a challenging market, making it an attractive option for those looking to diversify their portfolios.