EGYPTIAN SHORES

Skidmore, Owings & Merrill, the U.S. architecture firm behind Dubai’s Burj Khalifa, will lead the masterplan of Qatari Diar’s $30 billion Alam Al Roum smart-city project on Egypt’s Mediterranean coast. The massive development will include more than 7 kilometers (4.3 miles) of private beachfront and be supported by a consortium of global design and engineering firms, Arabian Gulf Business Insight reports. Qatari Diar, owned by the Qatar Investment Authority, has committed $3.5 billion to the project. The move comes as Gulf-backed coastal developments accelerate in Egypt, with Abu Dhabi’s Modon leading the Ras El Hekma master development.

MOROCCAN SOJOURN

Morocco plans to add 60,000 hotel beds before it co-hosts the 2030 FIFA World Cup with Spain and Portugal, increasing the country’s lodging capacity by about 20%. Tourism Minister Fatim-Zahra Ammor said the tournament is an opportunity to speed up long-term growth rather than a goal in itself, Reuters reports. The government is investing more than $20 billion in rail, roads, airports, stadiums and other infrastructure ahead of the event. Morocco, which welcomed nearly 20 million visitors last year, aims to attract 26 million tourists annually by 2030.

Mubadala: Mubadala Capital, the alternative asset management arm of the Mubadala sovereign wealth fund, has agreed to acquire the outstanding securities of French leisure operator Pierre et Vacances through an all-cash tender offer of approximately 900 million euros ($1.1 billion).

Dubai Investment Co.: Dubai Investments Industries agreed to acquire an 80% stake in Clemenceau Medical Center through a share-swap transaction.

Public Investment Fund: The Saudi sovereign wealth fund, along with Jared Kushner’s Affinity Partners and private equity firm Silver Lake, is expected to win unconditional approval from the European Commission for its $55 billion acquisition of Electronic Arts after the end of its preliminary review on July 30, Reuters reports.

SABIC: Saudi Basic Industries Corp. signed a project development agreement with China’s Rongsheng Petrochemical that could give SABIC a 50% stake in a major new petrochemicals complex in Zhejiang province.

G42: A veteran CIA officer sent to Abu Dhabi helped address Washington’s concerns over G42’s ties to China, clearing the way for closer U.S.-UAE cooperation on advanced artificial intelligence technologies, The Wall Street Journal reports.

✍️ Destination Jeddah: Saudi-based ALMA Destination signed agreements with the Jeddah Municipality and the National Water Co. to establish long-term management of public infrastructure and operate water treatment facilities across its 3.125 million square meter.

💰 Logistics Zone: Saudi Arabia’s Ports Authority, Mawani, signed seven agreements worth nearly 1 billion riyals ($267 million) to develop and expand logistics centers at Jeddah Islamic Port and Al-Khumra Logistics Zone.

📈 Oil Jump: Oil prices climbed above $90 a barrel for the first time in over a month as escalating U.S.-Iran strikes heightened fears of energy market disruption.

🇰🇼 Kuwait Under Fire: Iran struck a Kuwaiti oil facility, a power and desalination plant and an army barracks in one of the heaviest attacks on the Gulf state since the conflict began,

✈️ Low Altitude: Ryanair’s quarterly profit fell 34% to about $625 million as Middle East tensions forced lower fares while rising fuel costs pushed expenses higher, the Financial Times reports.

🛢️ Energy Expansion: An Egyptian consortium of Petrojet and Enppi has been shortlisted by Petroleum Development Oman to bid for its $6 billion project portfolio.

Saudi Crown Prince Mohammed bin Salman held a phone call on Sunday with Lebanese President Joseph Aoun. On Tuesday, Aoun will make his first White House visit to present President Donald Trump with a plan to disarm Hezbollah and press Israel to complete its withdrawal from southern Lebanon.

Sheikh Abdullah bin Zayed, the UAE Minister of Foreign Affairs, held a phone call with Jordan’s Foreign Minister Ayman Safadi on Sunday. Sheikh Abdullah also held a phone call with Sergey Lavrov, Russia’s Minister of Foreign Affairs, on Saturday.

Prince Abdullah bin Khalid bin Sultan, Saudi Ambassador to the U.K., met with Richard Deverell, Director of Royal Botanic Gardens, Kew, and Mark Chadwick, Kew Reach’s CEO, at the Saudi Embassy in London.

Sheikha Fatima bint Tahnoon, daughter of UAE National Security Advisor Sheikh Tahnoon bin Zayed –  who oversees many of Abu Dhabi’s biggest companies and sovereign wealth funds – is the founder Sahm Holding, a government-backed firm that is active in helping businesses use artificial intelligence, Intelligence Online reports. 

Khaldoon Al Mubarak, Group CEO of Mubadala and Chairman of the Manchester City football club, was among the prominent UAE figures who attended the FIFA World Cup finals on Sunday at MetLife Stadium in East Rutherford, N.J. Also spotted were Mariam bint Mohammed Almheiri, Head of the International Affairs Office at the UAE Presidential Court; Sayed Basar Shuaib, CEO of International Holding Co.; Mohammed Al Mubarak, Chairman of Aldar Properties; Khalfan Belhoul, CEO of the Dubai Future Foundation and Vice Chairman of the Dubai Sports Council; and Fouad Darwish, CEO of Palms Sport.

Said Bakhache, the IMF’s mission chief for the UAE, said in a report that while “the country’s banking sector’s exposure to real estate is contained, evolving market conditions warrant continued monitoring.”

Vijay Pereira, Senior Partner of Irish whiskey maker Marrowbone Lane, told Arabian Gulf Business Insights that the company is launching a UAE-based global platform that uses stablecoins and blockchain tokenization to let retail investors buy fractional stakes in whiskey casks.

Lt. Gen. Mazyad Al-Amro, commander of the Royal Saudi Air Defense Forces, met with Lt. Gen. Patrick D. Frank, deputy commander of U.S. Central Command, on Sunday.

🏺 Pharaoh’s Guide: Egypt’s best-known archaeologist, Zahi Hawass, has become one of the biggest attractions at Cairo’s Grand Egyptian Museum, where the 79-year-old celebrity historian is mobbed by visitors when he turns up. In an interview with the Financial Times, Hawass reflects on his decades as the public face of Egyptology, from guiding former U.S. President Barack Obama through the pyramids to debunking theories that aliens built them.

📷 Photo of the Day

August 18-19, Dubai. Middle East Event Show. Bringing together professionals from the events industry. Dubai World Trade Center.  

August 28-Sept. 6, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition. An annual event celebrating traditional Emirati heritage and culture. ADNEC Center.

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

August 31-Sept. 3, Riyadh. LEAP Expo Riyadh. A major tech trade show for the Middle East, which includes a global startup live pitch event. RECC Malham.

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Center.  

Sept.1-3, Doha. Qatar Event Show. Brings together the events industry through a three-day program featuring exhibitions, conferences, workshops and networking opportunities.. Doha Exhibition & Convention Center.

Sept. 11-13, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles. ADNEC Center.  

Sept. 13-18, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC Center.

Sept. 17-19, Abu Dhabi. International Real Estate & Investment Show 2026. An event targeting investors and consumers rather than trade visitors. ADNEC Center.

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. ADNEC Centre.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center. 

IRAQ EXPANSION

Chevron is in advanced talks with Iraq to sign preliminary agreements that move it closer to investing in two of the country’s biggest oil fields. The non-binding accords cover the giant West Qurna-2 field and the Nasiriyah field, and signal the U.S. oil company’s intention to negotiate final commercial deals, Bloomberg reports. Chevron is also studying a pipeline through Syria that would allow Iraqi oil exports to bypass the Strait of Hormuz, reducing reliance on one of the world’s busiest shipping routes. The talks come after Iraqi Prime Minister Ali Al-Zaidi met Chevron executives in Houston and President Donald Trump said “massive” new U.S.-Iraq oil partnerships would be announced soon.

AFRICA LINK

The Abu Dhabi Securities Exchange is expanding its push into Africa by bringing the Botswana Stock Exchange into its Tabadul cross-border trading platform. Botswana will become the first African exchange connected to the network, giving investors in both markets direct access through local brokerages. Tabadul, launched in 2022 by ADX and the Bahrain Bourse, now links 11 exchanges with a combined market capitalization of more than $1 trillion, over 700 listed companies and 11 million registered investors. The agreement boosts Abu Dhabi’s efforts to position itself as a gateway for investment flows between the Middle East and Africa.

Kuwait Direct Investment Promotion Authority: Beijing-based China State Construction Engineering Corp. has won a $233 million contract to build the KDIPA’s 55-story headquarters tower in Kuwait City, with completion expected by 2028. 

EDGE Group: The UAE’s government-owned defense conglomerate agreed to acquire Brazilian aerospace company AKAER, a maker of electro-optic, infrared and space-related technologies.

L’Imad Holding: The Abu Dhabi sovereign wealth fund’s Modon Holding will develop a Nammos-branded luxury resort at Egypt’s Ras El Hekma, adding homes, stores and wellness facilities to the UAE-backed $35 billion project. 

🏗️ Canal Growth: Egypt’s Suez Canal Economic Zone signed seven investment agreements spanning logistics, manufacturing and clean energy, including Agility’s $35 million logistics hub and China’s Zenith Group’s $300 million tire components factory.

🕳 Digging Deeper: Saudi Arabia’s Ades Holding has won drilling contracts totaling $229 million in the U.K. and Nigeria.

🏠 Plush Stay: A luxury Emirates Hills villa known as “The Palace” has been leased for a record-breaking $4.6 million for one year, making it Dubai’s most expensive rental property to date.

🤝 Trade Reset: Lebanon and Syria said they agreed to begin renegotiating decades-old trade pacts in the coming months as the neighbors seek to rebuild economic ties after Bashar al-Assad’s ouster and restore key export routes to Jordan and the Gulf.

💰 Retrieving Focus: UAE’s telco group e& is pulling back from its global expansion plans as new CEO Masood M. Sharif Mahmood refocuses on its core telecommunications business, Reuters reports.

🔋 Clean Sources: Surging energy costs and grid instability due to the conflict with Iran have boosted global demand for rooftop solar and home batteries, Bloomberg reports.

🍞 Hormuz Dilemma: Iran and Oman could raise about $6.8 billion annually by charging oil tankers transit fees through the Strait of Hormuz, based on a proposed $1-per-barrel levy that has been discussed but not formally agreed upon, according to Oxford Economics.

UAE President Sheikh Mohamed bin Zayed held a phone call with Oman’s Sultan Haitham bin Tariq to discuss regional developments. 

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, held a phone call with Kuwait’s Minister of Foreign Affairs, Sheikh Jarrah Jaber Al-Ahmad Al-Sabah.

Sheikha Latifa bint Mohamed, chairperson of the Dubai Culture & Arts Authority and a member of the Dubai Council, met with Roxie Houge, acting U.S. Consul General, during the American University of Dubai’s 29th Commencement Ceremony.

Edward Winter, formerly of BlackRock and Macquarie, has been hired by the Abu Dhabi Investment Council as chief investment officer to lead its real assets business.

Mohamed Nedham Khonji was appointed as chairman of Bahrain Family Leisure Co., which owns restaurants, cafés and a central kitchen for food delivery services. 

Abdullah Al-Swaha, Saudi Minister of Communications and Information Technology, held several meetings in South Korea with government ministers and heads of investment and technology firms.

Antoine Delcourt, Belgium’s Ambassador to the UAE, received the First-Class Order of Independence presented by Noura Al Kaabi, UAE Minister of State, on behalf of the UAE President Sheikh Mohamed bin Zayed, on the occasion of the end of his tenure.

🎲 Game On: Louvre Abu Dhabi is opening “A Board Game Adventure,” a new Children’s Museum exhibit tracing 5,000 years of games from ancient Egypt to the new era of artificial intelligence. Opening Saturday, the interactive show combines 24 historical objects with digital challenges to explore how chess, mancala, ludo and other games have connected cultures across generations, The National reports. Among the earliest pieces on display is Mehen, also known as the Game of the Snake, which was played in ancient Egypt between 4,000 and 5,000 years ago. Its spiral board took the form of a coiled serpent, with pieces moving towards its head.

📷 Photo of the Day

August 18-19, Dubai. Middle East Event Show. Bringing together professionals from the events industry. Dubai World Trade Center.  

August 28-Sept. 6, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition. An annual event celebrating traditional Emirati heritage and culture. ADNEC Center.

August 31-Sept. 3, Riyadh. LEAP Expo Riyadh. A major tech trade show for the Middle East, which includes a global startup live pitch event. RECC Malham.

Sept. 11-13, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles. ADNEC Center.  

Sept. 13-18, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC Center.

Sept. 17-19, Abu Dhabi. International Real Estate & Investment Show 2026. An event targeting investors and consumers rather than trade visitors. ADNEC Center.

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. ADNEC Centre.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center. 

BANKERS ON BOARD

JPMorgan is accelerating its expansion across Europe, the Middle East and Africa, hiring 30 senior bankers by year-end. The recruits will support the firm’s effort to facilitate $1.5 trillion in financing for industries tied to national security, including up to $10 billion of its own capital, Reuters reports. JPMorgan has doubled its workforce in the Middle East, North Africa, Turkey and Poland over the past two years and plans to increase staffing in those markets by another 60% over the next five years. The bank also said it has expanded lending in the Middle East as the U.S.-Iran conflict prompted some competitors to pull back from the region. 

CYBER SLEUTHS 

Saudi Arabia will host the world’s largest “Capture the Flag” cybersecurity competition in Riyadh during its Black Hat Middle East and Africa 2026 event in December, offering more than $210,000 in prizes and bringing together 150 finalist teams. The competition will feature games designed to develop cybersecurity technical skills, foster innovation and attract global talent, Arab News reports. Black Hat MEA drew more than 45,000 visitors last year from over 140 countries.

Saudi Aramco: BlackRock and Vanguard increased their holdings in the world’s biggest oil company to record levels in the first half of 2026, adding 30.6 million shares that gave their combined stake a market value of about $3.2 billion. Meanwhile, Halliburton secured a multi-year contract from Aramco to deliver integrated stimulation and completion services using AI to improve operational efficiency and reliability.

Public Investment Fund: Saudi Downtown Co., a subsidiary of the Saudi sovereign wealth fund, hired Ansab General Contracting to develop infrastructure, roads and street lighting in the kingdom’s eastern city of Al-Khobar.

Oman Investment Authority: Future Fund Oman, an OIA portfolio, announced 105 strategic projects and investments worth $1.7 billion.

💵 Green Funding: IFC, the private sector arm of the World Bank, will invest up to $100 million and provide up to $690,000 in financing for Jordan Kuwait Bank’s second green bond to fund climate-focused projects.

🏠 Expanding Houses: Orascom for Real Estate secured a $356 million 10-year syndicated loan from CIB, Banque Misr, and NBE to fund its O West project in West Cairo.

🤝 Military Deals: The U.S. State Department approved a series of potential military sales to Saudi Arabia worth almost $2 billion and to Kuwait worth $484 million.

✈️ Aircraft Market: Airbus is in talks to sell additional A330neo widebody aircraft to Saudi low-cost carrier Flynas with a possible announcement at next week’s Farnborough Airshow, Reuters reports. 

🛠️ Iraqi Export: The U.S. is backing efforts by Iraq and Syria to revive the Kirkuk-Baniyas crude pipeline that enables export of Iraqi oil to Europe, with American companies expected to support its reconstruction.

📁 Activist Disclosure: The U.S. Securities and Exchange Commission is requiring activist hedge funds to disclose their backers, potentially exposing Gulf family offices that quietly co-invest in U.S. markets, The National reports.

💰 Eyeing Africa: A wave of more than $9 billion in Gulf investment announcements over the past 18 months signals growing investor interest in Algeria, led by Qatar’s $3.5 billion Baladna dairy project.

UAE President Sheikh Mohamed bin Zayed met with Qatar’s Emir Sheikh Tamim bin Hamad Al Thani on Wednesday to offer his condolences on the death of the former Emir, Sheikh Hamad bin Khalifa Al Thani.

Sheikh Sultan bin Ahmed, Deputy Ruler of the northern emirate of Sharjah and President of the University of Sharjah, inaugurated the university’s Innovation Hub on Wednesday, which is part of the strategic partnership between the University and UAE telco group e&.

Prince Faisal bin Farhan, the Saudi Foreign Minister, met with Syrian Foreign Minister Asaad Al Shaibani in Riyadh on Wednesday.

Sultan Ahmed Bin Sulayem, the former Chairman and CEO of DP World, has taken direct control of Malaysia’s MMC Port Holdings as Executive Chairman, assuming day-to-day leadership after the company’s chief executive stepped down.

Ahmed Alsuwaiyan, Governor of Saudi Arabia’s Digital Government Authority, wrapped up visits to Hong Kong and China, where he met government officials and technology leaders to discuss cooperation on AI, digital governance and public digital infrastructure.

Suhail Al Mazrouei, Minister of Energy and Infrastructure and Chairman of the UAE Logistics Integration Council, chaired the council’s second meeting of 2026 on Wednesday.

Andi Syamsuddin Arsyad, an Indonesian entrepreneur close to President Prabowo Subianto, who is known for funding free trips to Mecca for Muslim countries, is the subject of a Bloomberg profile.

Syed Basar Shueb, CEO of Abu Dhabi’s International Holding Co. and Vice Chairman of Alpha Dhabi Holding, was spotted in the U.S. attending a FIFA World Cup match with his son.

🔮 Beyond Tomorrow: Dubai’s Museum of the Future will close to visitors in mid-September to replace all of its major exhibitions, with a completely redesigned visitor experience set to open in early 2027. The overhaul will retire the museum’s original exhibits more than four years after its 2022 debut and introduce a new narrative and interactive displays, The National reports. Museum officials said the refresh was always part of the plan to keep pace with advances in science, technology and society.

📷 Photo of the Day

August 18-19, Dubai. Middle East Event Show. Bringing together professionals from the events industry. Dubai World Trade Center.  

August 28-Sept. 6, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition. An annual event celebrating traditional Emirati heritage and culture. ADNEC Center.

August 31-Sept. 3, Riyadh. LEAP Expo Riyadh. A major tech trade show for the Middle East, which includes a global startup live pitch event. RECC Malham.

Sept. 11-13, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles. ADNEC Center.  

Sept. 13-18, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC Center.

Sept. 17-19, Abu Dhabi. International Real Estate & Investment Show 2026. An event targeting investors and consumers rather than trade visitors. ADNEC Center.

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. ADNEC Centre.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center. 

IRAQ CONNECTION

President Donald Trump said the U.S. will announce “massive” new oil deals with Iraq within days after hosting Prime Minister Ali al-Zaidi at the White House. The agreements would support Iraq’s efforts to boost oil and gas production after the Iran war disrupted exports and strained government finances. The Oval Office meeting on Tuesday came as Iraq presses OPEC for higher production quotas to make up lost sales and has raised the possibility of eventually leaving the producer group, like the UAE. Trump, meanwhile, ​discarded the idea of charging a 20% fee ‌on all cargo shipped through the Strait of Hormuz, and said he would instead solicit investment deals with the ​Gulf states.

PROPERTY SLUMP

A property boom in the UAE emirate of Ras Al Khaimah is losing momentum as project delays, rising construction costs and the Iran war take their toll. Years of expansion following the announcement of the Wynn Al Marjan Island casino resort in 2022 have left developers facing a crowded pipeline, with registered projects more than doubling. Several developments have been delayed, canceled or put on hold as contractors confront supply chain disruptions, Arabian Gulf Business Insight reports. Government data shows the slowdown is spreading, with sales values dropping 55% year-on-year in January and mortgage activity plunging 88%.

Mubadala: Bahrain’s Investcorp, which is backed by the Abu Dhabi sovereign wealth fund, said its U.S.-based Guardian Fire Services portfolio company acquired Nebraska’s Midwest Protection Services.

International Holding Co.: The Abu Dhabi-owned conglomerate’s ePointZero unit completed its $2.25 billion acquisition of Traverse Midstream Partners, gaining minority stakes in the Rover Pipeline and Ohio River System in its first investment in U.S. natural gas infrastructure.

L’Imad Holding Co.: PureHealth, backed by the Abu Dhabi sovereign wealth fund, is teaming up with Aldar Properties to develop health-focused communities that integrate wellness, preventive care and technology into residential neighborhoods across the UAE.

Abu Dhabi Investment Authority: ADIA acquired a 0.89% stake in Indian building materials supplier SG Mart for $7.6 million and also participated as an anchor investor in SBI Funds Management’s $1.2 billion IPO.

🚽 Waste Opportunity: Saudi-based Alkhorayef Water and Power Technologies Company has secured $44 million in contracts to provide services for water and wastewater facilities across the Al Khobar and Riyadh regions. 

🏘️ Property Appeal: Real estate transactions in the UAE emirate of Sharjah reached AED29.5 billion ($8 billion) for the first half of 2026, up 9.3% on the same period last year.

 🦖 Rex Record: Speculation is mounting over the identity of the mystery buyer of a Tyrannosaurus Rex skeleton named Gus, which sold for $50.1 million at Sotheby’s, Bloomberg reports. Stan, the T. Rex sold to a UAE entity for $31.8 million in 2020, was recently put on display at the Natural History Museum Abu Dhabi.

✈️ Flight Risk: The European Union Aviation Safety Agency has raised its threat level for airlines traveling through the Middle East, instructing airlines to avoid crossing through the air spaces of Bahrain, Kuwait, Qatar, the UAE and the Gulf of Oman until July 29, Bloomberg reports.

💼 New Arrival: Monaco-based wealth manager Azura Partners has opened an office in Abu Dhabi Global Market. 

🪙 Digital Approval: U.K. fintech Revolut has received in-principle approval from Dubai’s Virtual Assets Regulatory Authority, moving a step closer to securing a full license to launch cryptocurrency services in the UAE.

✅ Delisting Syria: The U.S. decision to remove Syria from its list of state sponsors of terrorism clears a major obstacle to Gulf trade and investment, AGBI reports.

Qatar’s Emir Sheikh Tamim bin Hamad Al Thani continued to receive foreign leaders offering condolences on the passing of the late Sheikh Hamad bin Khalifa Al Thani at Lusail Palace on Tuesday and Wednesday. Guests included Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court; Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs; Jordan’s Crown Prince Hussein bin Abdullah II; German President Frank-Walter Steinmeier; French Prime Minister Sebastien Lecornu; and Prince Edward, the Duke of Edinburgh. Sheikh Tamim also received a phone call from U.S. President Donald Trump on Tuesday.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, held a phone call with Nabil Fahmy, Secretary-General of the League of Arab States.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the Board of Directors of Abu Dhabi Fund for Development , chaired the fund’s first board meeting for the year at Qasr Al Watan in Abu Dhabi.

Noor bint Ali Alkhulaif, CEO of Bahrain’s Economic Development Board, talked to Fortune about the agency’s efforts to win investors despite mounting headwinds, amid her five-day visit to the U.K. aimed at deepening economic ties.

Lana Nusseibeh, UAE Minister of State, has told The National that the Strait of Hormuz must be reopened using diplomatic and defensive means.

Khalifa Mohammed Alshehhi was appointed CEO of Neurovia AI, an AI visual data processing and compression technology company of Robo.ai. 

🎸 Rock On: Saudi Arabian alternative rock band Gimmix is embarking on a first international tour, taking its blend of energetic rock, indie and hip-hop through Finland and the Baltic region this week. Founded in 2017 – the same year that Saudi Arabia lifted its decades-long ban on large-scale live music in public – the band has steadily become one of Saudi Arabia’s best-known alternative acts, even opening for Guns N’ Roses in Riyadh last May. That appearance “definitely raised our expectations of ourselves and what we’re capable of,” founding member Abdullah Aldhamin told Arab News.

📷 Photo of the Day

August 18-19, Dubai. Middle East Event Show. Bringing together professionals from the events industry. Dubai World Trade Center.  

August 28-Sept. 6, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition. An annual event celebrating traditional Emirati heritage and culture. ADNEC Center.

August 31-Sept. 3, Riyadh. LEAP Expo Riyadh. A major tech trade show for the Middle East, which includes a global startup live pitch event. RECC Malham.

Sept. 11-13, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles. ADNEC Center.  

Sept. 13-18, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC Center.

Sept. 17-19, Abu Dhabi. International Real Estate & Investment Show 2026. An event targeting investors and consumers rather than trade visitors. ADNEC Center.

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. ADNEC Centre.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center. 

RED SEA CRESCENT

The UAE is moving ahead with plans to transform a piece of Jordan’s Red Sea beachfront. MAG Group, a subsidiary of ADQ’s AD Ports Group, said it will begin development of the Marsa Zayed resort in the southern port city of Aqaba, which abuts the Saudi border. In the first phase, MAG will begin construction on what will be called the Zayed Riviera with four residential towers, a yacht club, and restoration of the Aqaba Minaret. The Jordanian project could potentially link to similar planned resorts in Saudi Arabia, Egypt and Israel that form a border-traversing horseshoe around the Red Sea.

COURTING WEALTH

Dubai is adding luxury mansions and penthouses, some priced higher than $120 million, targeting wealthy buyers with extravagant features like cinemas, spas and private elevators. Despite prices moderating across Dubai’s property market after a surge since 2021, high-end developments continue along prime beachfront locations, Bloomberg reports. “On a per square foot basis, prices in the emirate are a third of New York’s and a fifth of London’s,” Mahdi Amjad, founder of Omniyat, a developer of ultra-luxury apartments, told the news agency. While wealthy buyers are pushing back on price hikes after years of increases, demand remains ahead of supply.

Public Investment Fund: Umm Al Qura for Development & Construction Co., a PIF company that has been behind one of the most significant projects in Mecca, plans to proceed with an IPO on the Tadawul stock exchange, Bloomberg reports.

M42: The Abu Dhabi-owned company, operated through G42 Healthcare and Mubadala Health, signed an agreement with Bahrain’s Royal Medical Services to provide heart and lung transplants as part of Abu Dhabi’s “Hayat” organ donation program.

Mubadala: Mina Hamoodi, Mubadala’s Head of Healthcare, held an onstage discussion with Christopher Boerner, Board Chair and CEO of Bristol Myers Squibb, about how AI and digital advancements are accelerating innovation and improving patients’ wellbeing, appearing at the JPMorgan Healthcare Conference in San Francisco last month.

🏢 Property Backer: Apollo Global Management said on Friday it will invest $500 million in Abu Dhabi-based Aldar Properties, calling the deal “one of the region’s largest-ever corporate hybrid private placements.” Apollo has invested about $1.9 billion in Aldar since 2022.

📈 IPO Fever: Saudi Arabia’s Derayah Financial will seek to raise $400 million in an IPO for a 20% stake in the online brokerage sold out minutes after subscriptions opened on Sunday.

♻️ Clean Methanol: Abu Dhabi’s Ta’ziz has awarded a $1.7 billion contract to Samsung E&A to build the UAE’s first methanol plant in Al Ruwais Industrial City, with a capacity of 1.8 million tonnes per annum. The plant will be powered by clean energy and will be completed by 2028.

💰 Closed Chapter: The Saudi Electricity Co. will settle $1.5 billion past obligations to the kingdom after an executive panel approved a final settlement related to discrepancies in fuel and electric power charges.

🖨️ 3D Investor: Fortissimo, an Israeli private equity fund, signed an agreement to invest $120 million in 3D printing company Stratasys, increasing its stake to 15.5%.

🤝 Summit Site: Saudi Arabia and the UAE are being considered as sites for a possible summit meeting between U.S. President Donald Trump and Russian President Vladimir Putin, Reuters reports.

💸 New Deal: ADNOC confirmed ongoing negotiations with Austria’s OMV to merge their companies Borouge and Borealis and create a global polyolefins group.

🎥 Media Operation: CNN is expanding its Middle East presence with a new Qatar Media City operation to complement its Abu Dhabi HQ, Dubai base and regional bureaus.

🏗️ High-Rise: Dubai-based Refine Development Management unveiled a $12 billion project pipeline and a new sales gallery ahead of major 2025 launches.

📞 Big Calls: Saudi Arabia’s STC Group has become the largest publicly traded telecom operator in the MENA region, surpassing UAE’s e&, Saudi Arabia’s Mobily, Qatar’s Ooredoo, and the UAE’s Emirates Integrated Telecommunications, with a market capitalization of $57.7 billion, Forbes reports.

Saudi Crown Prince Mohammed Bin Salman held talks withSyria’s interim President Ahmed Al-Sharaa on Sunday, focusing on broad economic cooperation between the two countries, as well as on security and political issues connected to the post-Assad era. It was the new Syrian leader’s first official foreign trip.

Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi, UAE National Security Advisor and Chairman of the Artificial Intelligence and Advanced Technology Council, issued a directive on Friday to reconstitute the Board of Trustees of the Mohamed bin Zayed University of Artificial Intelligence with Khaldoon Al Mubarak, CEO of Mubadala and a member of the Abu Dhabi Executive Council as Chairman.

Sheikh Mohammed bin Abdulla Al Thani, Qatar’s Minister of Transport, signed an agreement with his Libyan counterpart to update a 2004 bilateral agreement and enable Qatar’s national carrier to expand its network.

Sheikh Nahyan bin Mubarak, UAE Minister of Tolerance and Coexistence, received the Indian yogi Sadhguru at his majlis gathering in Abu Dhabi on Sunday.

Hend Al Otaiba, the former UAE Ambassador to France, met with Anna Wintour in Dubai, lauding the Vogue editor-in-chief in an Instagram post for her global influence “not only in shaping the media landscape but in setting a precedent for women in leadership.”

Jared Kushner, founder of Miami-based Affinity Partners and son-in-law of President Trump, courted Albanian Prime Minister Edi Rama on a yacht four years ago, building a relationship that ultimately led to his announcement in December of a $1.4 billion island resort on the Albanian coast, the Financial Times reports in a new profile of Kushner.

Scott Sheffield, the former CEO of Pioneer Natural Resources, is the subject of a profile in Texas Monthly as he tries to defend himself against accusations by the U.S. Federal Trade Commission that he worked with OPEC to fix prices.

Scott Minerd, the former Chief Investment Officer of Guggenheim Partners who died of a heart attack Dec. 21, 2022, days after a 17-hour flight home from seeing the World Cup in Qatar, is the subject of a story in Vanity Fair about the fight over his $400 million estate.

Jackie Lee Robinson, a former NBA player, has left a trail of jilted backers after promising to build a $5 billion sports arena and resort in Las Vegas with billions of dollars raised from well-capitalized investors, including Qatar, and failing to begin construction, the Los Angeles Times reports.

Feb. 1-8, Abu Dhabi: Mubadala Abu Dhabi Open. Top women tennis stars compete in WTA 500 tournament. International Tennis Centre, Zayed Sports City.

Feb. 3-6, Dubai. Medlab Middle East 2025. The show attracts exhibitors whether global  giants or emerging startups to discuss digital health solutions. Dubai World Trade Centre.

Feb. 4-5, Doha. Seatrade Maritime Qatar Conference and Exhibition. Conference brings industry experts, decision-makers, shipping companies and leaders in technology, energy, finance and investment. Sheraton Grand Doha Resort.

Feb. 4-6, Abu Dhabi & Dubai. Ai Everything Summit. The event brings in artificial intelligence experts and the world’s brightest researchers and builders of new tech. St. Regis Saadiyat Resort and Dubai Exhibition Center. 

Feb.5, Dubai. Energy Industry Conference. Over 500 CEOs, CFOs, risk managers, investors, insurers, government representatives, and more—at the Energy Industry Conference to discuss energy transition. Intercontinental Festival City.

Feb. 9-12, Riyadh. Leap 2025. Riyadh’s tech event that brings in tech innovators and leading experts from around the world to discover new ideas, build new partnerships, and connect with inspiring mentors and investors. Riyadh Front Expo Centre.

Feb. 11-13, Dubai. World Government Summit 2025. Annual event brings in world leaders and business leaders from the region and outside to discuss the most pressing matters. Madinat Jumeirah.

Feb. 14-16, Munich Security Forum. Known as one of the world’s leading forums for debating international security policy. Hotel Bayerischer Hof.

Feb. 17-21, Abu Dhabi: IDEX 2025. Military contractors from around the world show their wares at one of the most prominent international defense exhibitions. ADNEC Center.

Feb. 17-21, Dubai. Gulf Food. In its 30th edition, the exhibition brings in many more companies to show their work on food and the industry’s use of technology. Dubai World Trade Center. 

Feb. 18-19, Abu Dhabi. The Future of Asset Management Middle East. A two-day conference that gathers leading executives from top asset management companies in the Middle East region. The Ritz-Carlton, Grand Canal.

 Feb. 22-23, Miami, Fla. FII Priority. Saudi Arabia’s Future Investment Initiative connects U.S. and Middle Eastern investors. Faena Hotel & Forum, Miami Beach.

Feb. 25, Dubai. Family Office Summit 2025. Global fund leaders managing $1 trillion in assets will meet under the theme, “Taking Money Out of Cash.” Ritz Carlton Jumeirah Beach.

Feb.25-March 1, Dubai. WCA World 2025. The conference brings together some of the world’s biggest independent freight forwarders. Dubai World Trade Centre.

March 17-19, Dubai. Dubai International Horse Fair. A gathering of the equestrian industry and horse lovers from around the world. Dubai World Trade Centre.

Feb. 3-11, Abu Dhabi, UAE: Mubadala Abu Dhabi Open. WTA brings top women tennis players to the nine-day tournament. International Tennis Center, Zayed Sports City. 

Feb. 9-11, Abu Dhabi, UAE: Middle East Comic Con. Nerds unite for the biggest pop culture gathering in the region. Abu Dhabi National Exhibitions Center.

Feb. 12-14, Dubai, UAE: World Governments Summit. Artificial intelligence takes center stage this year at the global gathering. Madinat Jumeirah.

Feb. 12-13, Riyadh, Saudi Arabia: Global Smart City Forum. AI and smart city experts convene to discuss the future of these cities and their impact on communities. The Arena.

Feb. 16-18, Munich, Germany: Munich Security Conference. Defense industry, foreign policy and national security leaders gather for annual summit. Hotel Bayerischer Hof.

Feb. 19-20, Riyadh, Saudi Arabia: Saudi Capital Markets Forum. A gathering of government ministers, banks and local publicly traded companies to discuss integrating emerging markets with established financial systems. King Abdullah Financial District.

Feb. 21-22, Dubai, UAE: Step Conference. The Dubai edition of the leading tech festival for emerging markets. Internet City.

Feb. 22-23, Miami Beach, FL: FII Priority Miami. A summit on disruptive technology and investment trends hosted by the Future Investment Initiative Institute. Faena Hotel Miami Beach.

Feb. 26-29, Doha, Qatar: Web Summit Qatar. A Middle East edition of the technology crowd mega-event, gathering investors, entrepreneurs and business leaders. Doha Exhibition and Convention Centre. 

Feb. 28-29, Abu Dhabi, UAE: Investopia. A gathering of investors hosted by SALT and Investopia, an investment platform launched by the UAE Ministry of Economy and backed by Mubadala and the Department of Economic Development. St. Regis Saadiyat. 

March 1, Abu Dhabi, UAE: Abu Dhabi Family Office Summit. One of the largest meetings in the region for family office leaders and investors. Saadiyat Rotana.  

March 4-7, Riyadh, Saudi Arabia: LEAP. A global technology conference for developers, startups, investors, C-suite and media. King Abdul Aziz International Conference Center.

March 5-6, Doha, Qatar: International LNG Forum. Gathering of industry leaders and key stakeholders to discuss the future of gas in a key export market. InterContinental Doha Beach.