- Smashi Business
- Posts
- 1BFS Day 1 Updates; Baidu in Dubai; Saudi Oil Flows To Asia; Red Sea Global Launches AI Fund
1BFS Day 1 Updates; Baidu in Dubai; Saudi Oil Flows To Asia; Red Sea Global Launches AI Fund
Saturday, January 10, 2026
Happy Saturday everyone!
Day 1 at 1 Billion Followers Summit in one word was “happening”. There was so much taking place that it was impossible to keep a track of everything, but we have the main highlights in our special section below.
In top stories of the day: Dubai’s RTA gave China’s Baidu first fully driverless testing permit, Saudi is increasing oil export amid falling prices to Asia and Saudi PIF-backed luxury destinations developer is venturing into a fund for AI startups. Why? Diversification!
China’s Baidu Secures Dubai’s First Fully Driverless Testing Permit
What’s it About?
Dubai’s Roads and Transport Authority has granted its first permit for fully driverless vehicle testing to Apollo Go, Baidu’s autonomous ride-hailing platform, allowing operations on designated public roads without a human safety driver.
Why it Matters?
The approval positions Dubai at the forefront of autonomous mobility in the region and deepens China’s role in Gulf transport innovation, as regulators test safety, reliability, and readiness for large-scale driverless services.
What’s Next?
Apollo Go plans to launch a commercial robotaxi service in early 2026 and scale its fleet to over 1,000 vehicles, supported by a new autonomous vehicle hub in Downtown Dubai, as the RTA expands testing across the city.
Smashi Business is a Media Partner at 1B Followers Summit
Day one of the 1 Billion Followers Summit 2026 in Dubai set a clear tone: impact matters more than influence alone.
Opening the summit, UAE Cabinet Affairs Minister Mohammad Al Gergawi described content as a force shaping public awareness, economies and communities, stressing that creators now carry responsibility alongside reach. Al Gergawi highlighted how algorithms and artificial intelligence are transforming the creator economy, noting that most creators now use generative AI and warning that those who fail to adapt risk being left behind. He pointed to initiatives such as the 1 Billion Acts of Kindness campaign with MrBeast and TikTok’s edutainment programme as proof that content can translate into real-world impact.
Creators echoed that message on stage. Emirati influencer Khalid Al Ameri argued that 1,000 loyal followers are more valuable than millions who do not engage, urging creators to prioritise trust, purpose and substance over empty virality. MrBeast reinforced the idea, saying influence without intention is meaningless, while sharing how his content has funded life-changing healthcare for thousands.
The day concluded with the announcement that 10 creators will join MrBeast in Ghana to build a village, underscoring the summit’s core message: content should change lives, not just generate views.
The 1 Billion Followers Summit 2026 is themed "Content for Good" and is organized by the UAE Government Media Office under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.
See our socials for what’s happening!
Markets
EGX 30 | 41,856.76 | Closed |
DFMGI | 6,225.94 | 0.433% |
ADX | 10,009.62 | 0.305% |
Tadawul | 10,473.23 | Closed |
Saudi Oil Sales To Asia Stay Strong After Third Consecutive Price Cut
What’s it About?
Saudi Arabia’s crude oil exports to Asia are set to remain above normal levels after Saudi Aramco cut prices for a third month, boosting February shipments to East Asia and India as global markets show signs of oversupply.
Why it Matters?
Lower prices make Saudi crude more competitive against regional spot grades, helping Aramco defend market share as oil benchmarks slump. The move signals continued pressure in global oil markets and growing competition among Middle Eastern exporters.
What’s Next?
If oversupply persists, further price adjustments are likely, intensifying competition in Asia. Weak spot market differentials and a contango structure suggest continued softness, while refiners may capitalize on cheaper Middle Eastern crude in coming months.
Red Sea Global Enters Venture Capital With AI-Focused Saudi Fund
What’s it About?
Red Sea Global has partnered with Abu Dhabi-based Bunat Ventures to launch a venture capital fund targeting artificial intelligence startups in Saudi Arabia, aiming to back around 25 companies and test their technologies across its luxury tourism developments.
Why it Matters?
The move highlights Saudi Arabia’s growing push into venture capital and AI, driven by state-backed investors seeking economic diversification, job creation, and innovation, as the kingdom positions itself as the Gulf’s most active VC market.
What’s Next?
Over the next three years, selected startups will pilot AI solutions within Red Sea Global’s operations, potentially accelerating commercialization, while reinforcing the Public Investment Fund-backed developer’s role in Saudi Arabia’s expanding technology ecosystem.
🦄 World of Startups
Egypt-based EdTech startup Business For Teens Bags Six-Figure Pre-Seed as It Prepares to Expand
Drive Finance Secures 2.4B in Ambitious Securitisation Drive
Falak Angel Network Invests in UNITS to Revolutionise Saudi Logistics Scene
UAE Advances Drone Delivery with Successful Pilot in Remote Liwa
Fawry Launches Holding Company to Power Expansion in Egypt’s Fintech Sector
HSBC and Presight Forge AI Partnership to Revolutionise Banking in UAE
👨💻From Smashi Business’ Desk
xAI just raised a massive $20B in its Series E round, with global heavyweights and Middle Eastern investors like QIA and MGX.
Kayali Cares has donated $250,000 to Doctors Without Borders to support lifesaving medical care in Sudan.
Revolut CEO Ambareen Musa announced a massive recruitment drive as the $75B fintech giant prepares to launch in the region.
‘A Country Kidnapped by a Decision’: Dubai Billionaire Condemns U.S. Capture of Venezuela’s President
