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L’imad, BlackRock, Temasek, ADNOC to co-invest $30 billion

The massive combination of capital indicates the ambitious agenda of the L’imad sovereign fund, which last year acquired most of ADQ’s holdings

Abu Dhabi cultivates an island of museums to dazzle investors

As the Guggenheim Abu Dhabi prepares to open later this year, the UAE capital sees its burgeoning Saadiyat Cultural District as a creative driver of economic growth

Dubai’s ruling family boosts Emaar stake in $6.5B transfer

Dubai’s real estate prices have taken a dip amid two months of missile and drone attacks from Iran, some of which damaged buildings in the city center

Aramco’s Nasser sees slow recovery of oil when Strait opens

Saudi petroleum giant reports 26% jump in first-quarter profit, driven by higher crude prices, as traders race to price in war risk, supply shortages

DP World rolls out war-risk insurance for Iran-blocked cargo

Policies, which cover shipping, air freight and trucking routes, also apply to Red Sea, which has periodically been blocked by Yemen’s Houthi rebels

Quick Hits

SOVEREIGN PUSH

L’imad, BlackRock, Temasek, ADNOC to co-invest $30 billion

AI RAISING

Cerebras raises $5.5B ahead of Nasdaq debut in landmark IPO

MERGING TRAFFIC

Dubai Taxi to purchase its rival National Taxi for $395 million

The Daily Circuit: L’imad’s $30B fund with BlackRock + Cerebras reaches Wall St.

football fever

Khaldoon Al Mubarak opens Manchester City Women’s new $13.5 million training center

ARABIAN FREEWAY

Gulf trucks cruise desert corridor as war chokes Strait of Hormuz

The Daily Circuit: Trucking across Saudi Arabia + Aramco’s $10B property sale

royal holdings

Dubai’s ruling family boosts Emaar stake in $6.5B transfer

RED & Green

Jordan signs $1 billion deal for green ammonia plant in Aqaba

The Daily Circuit: Emaar’s royal infusion + Partners Capital opens in Abu Dhabi

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