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Gulf funds build future influence in backing Elon Musk’s ventures

The Mubadala fund is one of SpaceX’s largest investors, meaning the proposed merger would deepen its exposure to Musk by adding xAI’s assets

Qatar unveils $2 billion push for startups as Web Summit opens

The funds – Greycroft, Ion Pacific, Liberty City Ventures, Shorooq and Speedinvest – will open offices and help Doha develop as a technology hub

L’Imad takes over ADQ in shake-up of Abu Dhabi wealth funds

The three-year-old investment firm will now hold subsidiaries including Etihad Airways, Etihad Rail, Abu Dhabi Ports, McLaren and Modon

ADQ chief Mohamed Alsuwaidi steps down to steer Lunate

Lunate, launched in 2023 as an independent alternative investment manager backed by Abu Dhabi capital, manages about $115 billion in assets

Dubai International Financial Centre, an investment hub in the Middle East. (Photo: Getty Images)

DIFC plans $27B expansion to anchor Dubai as finance hub

Plans for the DIFC Zabeel District reflect growing demand from banks, hedge funds and tech firms for office space and homes for their employees

Quick Hits

Expanding Empire

Gulf funds build future influence in backing Elon Musk’s ventures

The Daily Circuit: Musk reverberations in Gulf + Mubadala Capital’s Waymo cash

RONALDO STRIKES

Cristiano Ronaldo sits out Saudi match amid reported PIF dispute

tech hive

Qatar unveils $2 billion push for startups as Web Summit opens

CODE PUSH

Lockheed opens Saudi software factory to boost tech industry

The Daily Circuit: Qatar nurtures startups + Lockheed’s Saudi software

HANDS UP

UAE tests making retail payments using facial, palm recognition

The Daily Circuit: L’Imad takes over ADQ + Manara-Glencore talks

SOVEREIGN overhaul

L’Imad takes over ADQ in shake-up of Abu Dhabi wealth funds

POWER SHUFFLE

ADQ chief Mohamed Alsuwaidi steps down to steer Lunate

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