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Microsoft bets $10 billion on AI expansion across Gulf states

Microsoft President Brad Smith plans an 'aggressive spending schedule' as the company expands in the UAE, Saudi Arabia, Kuwait and Qatar

Stockholm-based EQT establishes Gulf foothold in Abu Dhabi

EQT, which manages $389 billion in client assets, joins a growing lineup of global investment firms that are setting up shop in the ADGM

Saudi Arabia pushes off its Red Sea Film Festival to 2027

The decision comes just days after neighboring Dubai announced plans to revive its own film festival in December 2027 after a decade-long break

Hilton to build more Middle East hotels amid wartime recovery

The hospitality giant saw its regional revenues plunge by about 30% in the second quarter, but it expects a return to prewar levels next year

UAE may lead Gulf oil exporters amid repairs to Saudi pipeline

Fixing damage from drone strikes could keep the pipeline closed for six weeks, costing the kingdom tens of billions of dollars in oil revenue

Quick Hits

persian problems

UAE central bank cracks down on Bank Melli Iran, citing violations

growth agenda

Microsoft bets $10 billion on AI expansion across Gulf states

The Daily Circuit: Microsoft pledges ‘aggressive’ Gulf spending + Tighter Saudi IPO rules

financial hub

Stockholm-based EQT establishes Gulf foothold in Abu Dhabi

GAS GAMBIT

Saudi Aramco plans new gas division ahead of LNG expansion

The Daily Circuit: Sweden’s EQT enters Gulf market + Alibaba expands in UAE

ai companion

Private data centers find a market among wealthy Gulf residents

reel delay

Saudi Arabia pushes off its Red Sea Film Festival to 2027

The Daily Circuit: Red Sea Film Festival postponed + QIA-JPMorgan deal

The Daily Circuit: Qatar’s new wealth division + Eagle Hills’ $12B Maldives deal

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