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Brookfield raises $2B for PIF-backed Middle East fund

The Brookfield Middle East Partners fund’s first close will help it capitalize on growing opportunities in the region, as sovereign wealth funds continue to aggressively chase deals despite the ongoing Iran conflict

Iraq revives Syria oil pipeline plan to diversify export routes

The project would provide Iraq with a second direct Mediterranean export route, reducing its reliance on Gulf shipping lanes and the disruption-prone Iraq-Turkey pipeline

Blackstone to open Kuwait office after $16B oil pipeline deal

Blackstone’s commitment to a physical presence in the country comes even as Kuwait, which hosts multiple U.S. military facilities, has faced repeated threats from Iran

Saudi Arabia’s food delivery scene reshaped by Uber buyout

The U.S. rideshare and delivery giant is taking direct control of some of the Middle East’s biggest food and grocery delivery networks via its $14.8 billion takeover deal for Berlin-based Delivery Hero

PIF-backed The Helicopter Co. expands into private jets with Bombardier deal

The Helicopter Co. signed a letter of intent for the purchase of five Challenger 3500s, five Global 5500s and two Global 8000s at England’s Farnborough International Airshow, with options for 48 more aircraft

Quick Hits

The Daily Circuit: Saudi Prince buys into Lucid + U.S.-UAE AI task force

ROYAL INTERVENTION

Saudi Prince Alwaleed bin Talal takes 5% stake in Lucid

ITALIAN SUMMER

Red Sea Global expands overseas with Sardinia resort

CLUB MED

Iraq revives Syria oil pipeline plan to diversify export routes

SAUDI FUND

Brookfield raises $2B for PIF-backed Middle East fund

The Daily Circuit: Brookfield raises $2bn + Iraq’s pipeline plans

SUEZ ROUTE

Saudi Arabia reroutes more oil through Suez Canal amid Hormuz disruption

NEW TOWN

Blackstone to open Kuwait office after $16B oil pipeline deal

The Daily Circuit: Blackstone’s Kuwait move + Oil flows via Suez

NEW DRIVER

Saudi Arabia’s food delivery scene reshaped by Uber buyout

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