MINERAL MAPPING

Egypt plans to conduct its first nationwide aerial geological survey in more than 40 years to identify gold, copper and other mineral reserves as it seeks to attract foreign mining investment. Spain’s Xcalibur Smart Mapping will work with Egypt’s Nuclear Materials Authority to carry out the project. Energy Minister Karim Badawi said the survey will cover areas including Egypt’s Eastern and Western deserts and the Sinai Peninsula. The aim is to create a “modern, highly accurate mining database” to help investors identify commercially viable mineral deposits faster and with lower exploration risk, he said.

KEEPING FAITH

Saudi Arabia has welcomed more than 1.5 million foreign pilgrims for Hajj this week, despite the Iran conflict, exceeding the number of both international visitors last year and the resulting air-travel interruptions. The influx is evidence for the kingdom that its investments in religious tourism and property development around the holy cities of Mecca and Medina are paying off despite the broader drop-off in travelers to the region. Security forces in the country are on high alert amid the regional tensions and face the added complication of tens of thousands of worshippers coming from Iran and Iraq, where drone and missile barrages against the kingdom and its Gulf neighbors have originated.

Investment Corp. of Dubai: Alec Holdings, a subsidiary of the Dubai government fund, secured a $1.7 billion contract to design, procure and build the technically complex Sphere Abu Dhabi entertainment venue on Yas Island, set to open in 2029.

NEOM: Saudi Arabia’s megaproject development company has terminated a $1.6 billion contract won by Italy’s Webuild to construct a 57-kilometer high-speed rail link between its Oxagon and The Line sites, with the project only 20% complete.

MGX: Sheikh Tahnoon bin Zayed, Chairman of MGX and the UAE’s National Security Advisor, led the Abu Dhabi-based AI investment fund’s second board meeting of the year.

Qatar Investment Authority: Qatar Holding, an affiliate of the QIA, sold a $77 millionstake in Indian billionaire Gautam Adani’s Adani Energy Solutions.

💉 Healthcare Expansion: UAE developer Arada plans to invest $544.5 million to build an 800-bed healthcare network, expanding Reem Hospital into four locations across the country as part of a diversification strategy.

⛽ Clean Fuel: ENOC Group and Abu Dhabi-based Allied Biofuels Holding are working together to explore the offtake and distribution of Sustainable Aviation Fuel and e-SAF from a planned Uzbekistan facility.

💰 Muscat Bonds: Oman’s Sohar International Bank raised about $69 million by issuing mandatory convertible bonds.

⚙️ Steel Trade: India’s Jindal Saw plans to invest $390 million to build an integrated iron and steel plant in Oman’s Sohar to boost steel pipe production for domestic use and exports.

🛰️ Shadow Network: Iran’s Revolutionary Guards used a UAE-based company to procure advanced Chinese satellite communications equipment linked to its drone program, according to leaked contracts and shipping records reviewed by the Financial Times.

✈️ Green Light: Australia has expanded air services agreements with the UAE and Qatar to allow up to seven weekly flights each to the upcoming Western Sydney International Airport.

💺 Flight Boom: Etihad Airways will expand service between Tel Aviv and Abu Dhabi to six daily flights starting June 15, making Israel the airline’s busiest route with 42 weekly flights as demand for connections to Asia surges, Ynet reports.

🇨🇭 Risky Business: A little-known Swiss trading company played a key role in an oil supertanker’s transit through the Strait of Hormuz in a high-stakes gambit earlier this month, Bloomberg reports.

UAE President Sheikh Mohamed bin Zayed took part in a call on Sunday with U.S. President Donald Trump, King Hamad bin Isa Al Khalifa of Bahrain, Qatar’s Sheikh Tamim bin Hamad, Saudi Crown Prince Mohammed bin Salman, Jordan’s King Abdullah II, Egyptian President Abdel Fattah El-Sisi, Turkish President Recep Tayyip Erdoğan, and Field Marshal Asim Munir, Chief of Army Staff of Pakistan.

Sheikh Mohamed’s views on the Iran war and the UAE’s plans for the Middle East are analyzed by journalist Robert Worth in an interview with Le Grand Continent.

Sheikh Mohamed held a phone call with Qatar’s Emir Sheikh Tamim bin Hamad on Saturday.

Sheikha Shamma bint Sultan, President and CEO of Frontier25, a climate action advisory organization, called for stronger collaboration to accelerate global climate action.

Dr. Thani Al Zeyoudi, UAE Minister for Foreign Trade, said during a panel discussion at GLOBSEC Forum 2026 in Prague that the war with Iran has pushed Gulf countries to compress a decade-worth of logistics redesign into years. 

Abdulla Balalaa, UAE Assistant Minister for Energy and Sustainability Affairs, met with Amina J. Mohammed, Deputy Secretary-General of the United Nations, to discuss ways to further strengthen cooperation.

Jarrah bin Mohammed, Spokesperson for the Saudi Minister of Industry and Mineral Resources, said in a post on X that the kingdom issued 80 new mining licenses in March, which is more than double the number in February.

Pep Guardiola is leaving Manchester City, after 10 years of managing the Premier League soccer club owned by UAE Vice President Sheikh Mansour bin Zayed.

Andrés Iniesta will manage Dubai-based Gulf United FC, his first head-coaching role since retiring from professional soccer in 2024. 

🏺 Knockout Views: The ancient pyramids of Giza have long been used as a scenic backdrop to concerts, hosting stars from Frank Sinatra to the Red Hot Chili Peppers. Now, Egypt is turning to boxing, orchestrating a series of bouts dubbed “Glory in Giza,” in front of the 4,000-year-old monuments in an attempt to boost luxury tourism and generate hard-currency revenue, Bloomberg reports.

📷 Photo of the Day

June 1-4, Baghdad. Iraq Oil and Gas Technology Exhibition. Exploring industry-leading solutions propelling the oil, gas, and energy sectors into the future. Baghdad International Fairground.

June 3-4, Dubai. MENA Investor Conference. Capital market trends, GCC macro outlooks, and investment opportunities in the Middle East and North Africa. The Ritz Carlton DIFC. 

June 5-7, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments and game launches, including GameExpo 2026. Dubai World Trade Center. 

June 10-11, Doha. Project Qatar. The international construction and building materials exhibition showcases cutting-edge innovations and sustainable solutions. Doha Exhibition and Convention Center.

June 15-18, Cairo. Africa Health Excon. An annual event that brings together leaders and policy makers in health care. AlManara International Conference Center. 

June 17-19, Rome: FII Priority Europe. Saudi Arabia’s Future Investment Initiative holds a conference focusing on European business links with the Middle East. Cavalieri, Waldorf Astoria Hotel.

June 17, Tashkent. Investopia Global – Tashkent. The UAE’s flagship investment conference lands in Uzbekistan, bringing together leaders from government and the private sector to create new investment opportunities. Venue TBA.

June 23-24, Abu Dhabi. Forbes Middle East Building the Future Summit. Industry leaders, investors, architects, and innovators explore the trends and technologies shaping the next era of real estate. Conrad Etihad Towers.

June 24, Dubai. Energy & Sustainability Summit. The summit aims to drive forward the effective decarbonization of the Middle East’s construction and energy sectors, in support of Net Zero agendas, and their short- and long-term goals. Habtoor Grand Beach Resort & Spa.

June 23-25, Cairo. Big5 Construct Egypt. Exploring the latest products, innovations and technologies in the construction industry. Egypt International Exhibition Center.

NO BONUS

Qatar Airways has told its 60,000 employees that they will not get bonuses this year, as it “prioritizes long-term stability” amid flight disruptions caused by the Iran conflict. The state-owned carrier has been the worst affected in the region by a number of suspended flights and is operating at less than 60% of its usual schedule, Bloomberg reports. By comparison, Emirates reduced this year’s staff bonus by just two weeks to 20 weeks of salary. The bonus cuts come even as airline staff have worked through high-stress conditions, with Iran repeatedly targeting airports and surrounding infrastructure with drones and missiles earlier in the conflict. Qatar Airways posted a more than 7% decline in annual net profit on Wednesday, but said it was making progress on rebuilding its global schedule.

DIGITAL WIN

Abu Dhabi’s International Holding Co. has executed a $30 million transaction using blockchain technology developed by the ADI Foundation, a part of its Sirius digital arm. The transaction using DDSC, a UAE dirham-backed stablecoin built on the ADI Chain, represents a “defining milestone” for the stablecoin system in the UAE and shows that it can handle high-value financial flows, IHC said in a statement. The company said it will now focus on increasing institutional adoption, expanding use cases and building cross-border payment and trade corridors linking the Middle East with key global markets. ADI Foundation, launched two years ago, is a philanthropic initiative closely tied to Abu Dhabi’s broader push to expand its influence in financial technology and data infrastructure, an effort spearheaded by Sheikh Tahnoon bin Zayed, Chairman of IHC and the UAE National Security Advisor.

Abu Dhabi Investment Authority: ADIA was named among the funds backing CVC Capital Partners’ voluntary offer to take Italian drugmaker Recordati private in a potential $12 billion deal, in one of the biggest European healthcare transactions this year.

Abu Dhabi Investment Authority: Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and Chairman, chaired ADIA’s first Board of Directors meeting for 2026 on the company’s 50th anniversary.

G42: Core42, a G42 company, has raised $550 million in structured trade finance from HSBC to expand its AI cloud and compute infrastructure across the U.S. and Europe.

Mubadala: Acelen, owned by Abu Dhabi’s Mubadala sovereign fund, has secured $1.5 billion from a consortium led by HSBC and International Finance Corporation to begin building a $3 billion biofuels refinery in Bahia, Brazil.

Mubadala: Mubadala Energy is expected to announce a final investment decision within months for its Tangkulo gas development in Indonesia’s South Andaman block.

Masdar: Masdar signed a deal with China’s Sungrow to supply 7.5GWh of battery storage and 2.6GW of solar inverter capacity for Abu Dhabi’s 24/7 gigascale solar project.

Public Investment Fund: Video-game publisher Take-Two Interactive, which counts the PIF’s Savvy Games Group as a major shareholder, has confirmed a Nov. 19 release date for “Grand Theft Auto VI,” expected to be one of the top-selling video games of all time, with a marketing campaign to begin this summer.

🛢️ Oil Discovery: Egypt has announced its largest oil and gas discovery in 15 years: a Western Desert well with an estimated 330 billion cubic feet of gas and 70 million barrels of oil equivalent.

🏦 Support Provided: Emirates NBD has provided a $100 million loan to Luxembourg-based CPI Property Group to cover deferred payments on its Dubai luxury property portfolio.

💰 Investing Inwards: Egypt’s Sky Investments Holding plans to invest $300-$350 million in logistics over three years, mainly expanding East Port Said Port and developing new projects in Ain Sokhna and Alexandria as part of a broader $500 million investment plan.

🏗️ Border Post: Two consortia of Omani and Saudi companies have secured contracts worth $192 million to develop infrastructure in an economic zone near the Omani-Saudi border, Arabian Gulf Business Insight reports.

👍 Thumbs Up: Cantor Bank, part of the New York financial services firm Cantor Fitzgerald, has been granted approval to operate within the Abu Dhabi Global Market.

🪙 Crypto War: One of the Iranian regime’s key financiers secretly moved billions of dollars through Binance, the world’s largest crypto exchange, despite repeated red flags, The Wall Street Journal reports.

⚓ Port Plot: Abu Dhabi National Company for Building Materials is exploring an integrated logistics hub at Oman’s Port of Salalah to expand re-exports of building materials to markets including India, China and East Africa.

💼 Touch Down: Dutch legal firm TMF Group will begin operating within the Dubai International Financial Center.

🗓️ New Dates: Dubai’s flagship tourism industry expo, Arabian Travel Market, postponed due to the Iran conflict, has been rescheduled again to Sept. 14-17.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Deputy Prime Minister and Minister of Defense, approved a $400 million economic relief package to support the city’s business and tourism sectors, including suspending the hotel tax. 

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, met with Julia Klöckner, President of the German Bundestag, Omid Nouripour, Vice President of the Bundestag, and Armin Laschet, Chairman of the Bundestag’s Foreign Affairs Committee, on Thursday as part of his working visit to Germany.

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, held a phone call on Thursday with Asaad Al-Shaibani, his Syrian counterpart.

Mohamed Alabbar, the Emirati founder of Emaar, said his Noon e-commerce platform will cut staff numbers in half in the next three months, as he hires artificial intelligence agents across his companies.

Arif Amiri, CEO of DIFC Authority, met with Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund, on Thursday.

Yogesh Mehta, Founder of Petrochem, spoke with Arabian Gulf Business Insight about the effects of the Iran war, saying that with both imports and exports curbed, manufacturers have had to limit production. “The crisis has taken two wheels off the car,” he said.

🎥 Movie Magic: From the winding alleys of Al Seef to the gleaming skyline of One&Only One Za’abeel, Dubai is more than a backdrop in Tom Clancy’s “Jack Ryan: Ghost War,” The National reports. The latest installment in the espionage thriller franchise, which was shot in early 2025 in collaboration with the Media Council and Dubai Department of Economy and Tourism,  premiered on Prime Video on Wednesday. The film sweeps through Dubai Marina’s glittering waterfront and the desert’s vast silence, blending contrast into cinematic scale. Cameras also capture Emirates Towers, Gate Avenue in DIFC, and Burj Park.

📷 Photo of the Day

June 1-4, Baghdad. Iraq Oil and Gas Technology Exhibition. Exploring industry-leading solutions propelling the oil, gas, and energy sectors into the future. Baghdad International Fairground.

June 3-4, Dubai. MENA Investor Conference. Capital market trends, GCC macro outlooks, and investment opportunities in the Middle East and North Africa. The Ritz Carlton DIFC. 

June 5-7, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments and game launches, including GameExpo 2026. Dubai World Trade Center. 

June 10-11, Doha. Project Qatar. The international construction and building materials exhibition showcases cutting-edge innovations and sustainable solutions. Doha Exhibition and Convention Center.

June 15-18, Cairo. Africa Health Excon. An annual event that brings together leaders and policy makers in health care. AlManara International Conference Center. 

June 17-19, Rome: FII Priority Europe. Saudi Arabia’s Future Investment Initiative holds a conference focusing on European business links with the Middle East. Cavalieri, Waldorf Astoria Hotel.

June 17, Tashkent. Investopia Global – Tashkent. The UAE’s flagship investment conference lands in Uzbekistan, bringing together leaders from government and the private sector to create new investment opportunities. Venue TBA.

June 23-24, Abu Dhabi. Forbes Middle East Building the Future Summit. Industry leaders, investors, architects, and innovators explore the trends and technologies shaping the next era of real estate. Conrad Etihad Towers.

June 24, Dubai. Energy & Sustainability Summit. The summit aims to drive forward the effective decarbonization of the Middle East’s construction and energy sectors, in support of Net Zero agendas, and their short- and long-term goals. Habtoor Grand Beach Resort & Spa.

June 23-25, Cairo. Big5 Construct Egypt. Exploring the latest products, innovations and technologies in the construction industry. Egypt International Exhibition Center.

DISCOUNT ROLLS

Tariffs on British goods entering the Gulf, from the luxury Rolls-Royce cars favored by royalty to the chocolate and butter that line the aisles of Waitrose supermarkets in Abu Dhabi and Dubai, will be dropped under the terms of a new trade deal. The Gulf Cooperation Council signed the milestone free-trade agreement with the United Kingdom on Wednesday, strengthening economic ties between post-Brexit Britain and the six-member bloc that comprises the UAE, Saudi Arabia, Bahrain, Kuwait, Qatar and Oman. The deal, announced by U.K. Prime Minister Keir Starmer on Wednesday, is expected to add as much as $5 billion to the U.K. economy and will eventually strip away $780 million in duties a year. The GCC nations combined are the U.K.’s 10th-largest trade partners, accounting for about $71 billion in bilateral trade.

DAMASCUS MOMENT

The UAE is accelerating its push into Syria, treating the country as a strategic gateway for expanding trade networks and regional influence. Central to this strategy are Syrian ports, particularly Tartus and Baniyas, which are increasingly viewed as alternatives to Gulf maritime routes and as anchors in a wider logistics corridor linking the Eastern Mediterranean to Europe and Iraq. The approach is being pursued through large-scale capital commitments, including an estimated $11 billion investment by Emaar Properties in Damascus and coastal projects, as well as a $800 million port expansion deal by DP World at Tartus, Foreign Policy reports.

ADNOC: The state energy company said that the UAE’s new crude pipeline bypassing the Strait of Hormuz is about 50% complete and being fast-tracked to double export capacity via Fujairah by 2027, Reuters reports.

Public Investment Fund: Saudi Awwal Bank has agreed to a $1.7 billion financing deal with PIF-backed construction firm AlBawani.

Dubai Holding: Dubai Holding Asset Management, a unit of Dubai Holding, has awarded a $185 million contract to Group AMANA to build the 390-home Lantana Hills gated community in Dubai Science Park.

Qatar Investment Authority: The QIA and COFIDES, Spain’s state-owned financial institution, announced a joint $330 million fund to invest in green transition, digital transformation and technological innovation projects in Spain.

Mubadala: Mubadala’s assets under management increased by 17% to $385 billion in 2025.

Mubadala Capital: Infrastructure investor I Squared Capital is among the firms that have advanced to the second phase of bidding to acquire a $5 billion Brazilian port owned by Trafigura Group and Mubadala Capital, Bloomberg reports.

🛍️ Going South: Dubai South and UAE retail conglomerate Majid Al Futtaim will jointly develop a $16.9 billion retail and living community near Al Maktoum International Airport.

💰 Funding Round: The Exploration Company, a UAE-linked European aerospace startup, is seeking $200 million in new funding from global and UAE sovereign investors to advance its rocket engine development and space projects.

🦄 Unicorn Play: Morocco’s credit guarantee agency Tamwilcom is signing agreements to provide “millions of dirhams” to three local gaming startups in a state-sponsored attempt to create 1-2 new companies worth at least $1 billion by 2032.

🛡️ High Growth: The GCC insurance market is projected to reach $61.8 billion by 2030, growing at 4.9% annually with Saudi Arabia leading regional expansion.

📉 IPO Doubts: The Indian IPO of Jio Platforms, a unit of Mukesh Ambani’s Reliance Industries, is facing delays and valuation concerns amid geopolitical tensions and market volatility.

💼 Consulting Slump: Saudi Arabia has stopped giving new work to consultants as the Iran war rattles its finances, the Financial Times reports.

🏘️ Property IPO: Dubai Investments expects to go ahead with listing its real estate unit Dubai Investments Park on the emirate’s stock exchange before the end of 2026, Arabian Gulf Business Insight reports.

UAE President Sheikh Mohamed bin Zayed met with a delegation of Al Ain Football Club players and staff, following the team’s victory in the ADNOC Pro League.

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, launched a batch of AI agents to be used in tax auditing and customer service.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, met with German Chancellor Friedrich Merz in Berlin on Wednesday. Sheikh Abdullah also met with Alexander Dobrindt, the German Minister of the Interior.

Sheikh Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister of Bahrain, met with Jihad Azour, Director at the International Monetary Fund of the Middle East, North Africa and Central Asia.

Dr. Thani Al Zeyoudi, UAE Minister of Trade, outlined the country’s aggressive logistics infrastructure expansion plans, speaking at a meeting with the UAE India Business Council. 

Louis Margueritte, CEO of Business France, told The National “nearly 500 decision-makers from the Gulf” are expected at next month’s Vision Golfe Forum in Paris.

Kamran Abbas was appointed CEO of real estate and facilities management company International Real Estate Partners.

🎤 Race Stage: U.S. pop-rock group Imagine Dragons has been added to the lineup for the after-race concert series at this year’s Abu Dhabi F1 Grand Prix. The band, known for hits including “Believer,” “Radioactive,” “Demons” and “Thunder,” will headline Saturday, Dec. 5 at Etihad Park. The race weekend runs from Dec. 3 to Dec. 6 at Yas Marina Circuit.

📷 Photo of the Day

June 1-4, Baghdad. Iraq Oil and Gas Technology Exhibition. Exploring industry-leading solutions propelling the oil, gas, and energy sectors into the future. Baghdad International Fairground.

June 3-4, Dubai. MENA Investor Conference. Capital market trends, GCC macro outlooks, and investment opportunities in the Middle East and North Africa. The Ritz Carlton DIFC. 

June 5-7, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments and game launches, including GameExpo 2026. Dubai World Trade Center. 

June 10-11, Doha. Project Qatar. The international construction and building materials exhibition showcases cutting-edge innovations and sustainable solutions. Doha Exhibition and Convention Center.

June 15-18, Cairo. Africa Health Excon. An annual event that brings together leaders and policy makers in health care. AlManara International Conference Center. 

June 17-19, Rome: FII Priority Europe.Saudi Arabia’s Future Investment Initiative holds a conference focusing on European business links with the Middle East. Cavalieri, Waldorf Astoria Hotel.

June 17, Tashkent. Investopia Global – Tashkent. The UAE’s flagship investment conference lands in Uzbekistan, bringing together leaders from government and the private sector to create new investment opportunities. Venue TBA.

June 23-24, Abu Dhabi. Forbes Middle East Building the Future Summit. Industry leaders, investors, architects, and innovators explore the trends and technologies shaping the next era of real estate. Conrad Etihad Towers.

June 24, Dubai. Energy & Sustainability Summit. The summit aims to drive forward the effective decarbonization of the Middle East’s construction and energy sectors, in support of Net Zero agendas, and their short- and long-term goals. Habtoor Grand Beach Resort & Spa.

June 23-25, Cairo. Big5 Construct Egypt. Exploring the latest products, innovations and technologies in the construction industry. Egypt International Exhibition Center.

TAKING FLIGHT

Riyadh Air’s first commercial flight will finally take off on July 1, after delays in Boeing aircraft deliveries repeatedly pushed off its debut. The Saudi flag carrier has started selling tickets for its daily Riyadh-London service, which will be operated using its new Boeing 787-9 fleet. Backed by billions of dollars from the Public Investment Fund, Riyadh Air is aimed at business and luxury travelers, competing directly with Gulf rivals Emirates and Qatar Airways. British Airways, meanwhile, has postponed the restart of flights to Dubai, Doha and Tel Aviv until Aug. 1 because of the Iran war, while also cutting planned service levels and permanently dropping Jeddah from its route network.

FAIRWAY FALLOUT

Saudi-backed LIV Golf has begun preparing for the end. The upstart league that’s losing its funding from the Public Investment Fund is making contingency plans for a possible U.S. bankruptcy filing if it fails to secure new investors before the season ends in August, Bloomberg reports. LIV executives are seeking private equity firms, family offices and wealthy investors while also considering restructuring options if fundraising efforts fail, the news agency says. The league says revenues have doubled this year and insists its team-based golf model still has long-term potential despite ongoing financial losses and failed merger talks with the PGA Tour.

Public Investment Fund: Elon Musk’s rocket maker SpaceX could file publicly for an IPO as soon as today, after appointing Goldman Sachs as its lead bank in what could be the biggest stock market listing of all time. Saudi Arabia’s PIF holds a stake of just under 1% in SpaceX via its AI firm Humain and has been in talks to invest more in the stock market debut. Other Gulf funds have stakes, including Abu Dhabi’s AI investment vehicle MGX, which is backed by Mubadala and G42.

Public Investment Fund: The Saudi sovereign wealth fund is in talks with potential investors to sell a minority stake in Newcastle United to help finance stadium and infrastructure expansion plans that could cost more than $1.3 billion, Reuters reports.

MGX: Abu Dhabi’s MGX participated in a $2.1 billion Series B funding round for Isomorphic Labs, a U.K.-based drug design and development company.

Lunate: The Abu Dhabi-based alternative investment manager backed Manara Ventures, a $70 million Islamic-compliant fund, to support startups in Jordan.

ADNOC: The UAE national oil company’s logistics arm ADNOC Distribution  and Americana Restaurants formed a strategic partnership to expand restaurant and convenience retail offerings across roadside fuel stations.

Masdar: The Emirati renewable company is reportedly withdrawing from Spain’s Moeve-led 300MW Onuba green hydrogen project, the first phase of the planned 2GW Andalusian Green Hydrogen Valley.

QatarEnergy: Qatar’s state-owned oil company has entered Uruguay’s upstream sector by acquiring interests in three offshore exploration blocks from Shell.

📈 Doha IPO: Estithmar Holding, a Qatari conglomerate that’s part of the billionaire Al-Khayyat family’s empire, is working with Rothschild & Co. on a potential initial public offering of its healthcare unit Apex Health, Bloomberg reports.

🏠 Estate Sale: A 39-bedroom Bel Air mansion listed for $400 million, the most expensive U.S. home on the market, is being sold by a member of Qatar’s royal family.

📉 Scaling Back: Saudi Arabia cut its U.S. Treasury holdings by $10.8 billion to $149.6 billion in March, while the UAE reduced its portfolio by $5.8 billion to $114.1 billion.

⛏️ Mining Venture: Dubai-based Averi Finance is in talks with South African mining company Mantengu over a reverse takeover that would list Averi in Johannesburg, Bloomberg reports.

🏡 Broker Beachhead: Century 21 Real Estate established its Middle East regional headquarters in Dubai, using the emirate as a base for expansion across Gulf property markets.

🏘️ Shutting Down: Dubai’s real estate brokerage sector is undergoing rapid consolidation as a market slowdown is expected to force up to 30% of the emirate’s roughly 8,000 agencies to shut down in the coming months, Arabian Business reports.

🏀 Ball Drama: Liwa North America and CEO Paul Edalat claim in a lawsuit against the NBA that he helped initiate a deal with Emirates but was later excluded from final negotiations and left uncompensated, with the NBA denying liability and the dispute now continuing in federal court.

🏢 New Bureau: Swedish strategic communications consultancy Kreab Worldwide opened its first Middle East office in Riyadh, under the name “Kreab Saudi Arabia.”

🚂 Choo Choo: Etihad Rail has completed its first passenger station in Fujairah’s Madinat Al Hilal area  ahead of passenger service launches later this year.

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, honored the winners of the 2nd edition of the Zero Bureaucracy Award at a ceremony on Tuesday.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, UAE Deputy Prime Minister, Minister of Defense and Chairman of the Supreme Space Council, approved a $272 million international space cooperation program.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, met with Johann Wadephul, Germany’s Minister for Foreign Affairs, during a working visit by the UAE top diplomat to Berlin.

Sheikh Rashid bin Abdullah Al Khalifa, Bahrain’s Minister of Interior, visited the Tasleeh Holding stand during the International Exhibition for National Security and Resilience in Abu Dhabi. 

Jasem Albudaiwi, Secretary-General of the Gulf Cooperation Council, said that a Free Trade Agreement between the GCC and the United Kingdom will be signed in London today.

Alexus Grynkewich, U.S. Air Force General and NATO’s Supreme Allied Commander for Europe, said on Tuesday that NATO is not drawing up any plans for a potential mission in the Strait of Hormuz and would need a political decision to do so.

Mazen bin Mohammed Johar, CEO of Jeddah Airports Company, met with Sean Chiao, CEO of Singapore’s Surbana Jurong Group, to explore collaboration to support the airport’s expansion and development plans.

Yahya Shaheen Alhammadi was appointed Managing Director at defense company Raytheon Emirates, a subsidiary of U.S.-based multinational defense and aerospace company RTX.

⌚ Cuckoo Clock: A global shopping frenzy over a new watch collaboration has forced retailers in Dubai to cancel launch events and move stock off-site to avoid the chaotic scenes that have unfolded elsewhere, The National reports. The much-hyped Swatch x Audemars Piguet Royal Pop watch launched on May 16, but competition for the watches became so intense across cities around the world that police intervened to disperse crowds, in some cases using tear gas and dogs. In Dubai Mall and Mall of the Emirates, launches were cancelled before they even started, and the watches remain unavailable while retailers re-evaluate how to release them in an organized fashion.

📷 Photo of the Day

May 18-20, Muscat. Oman Petroleum and Energy Show. Examining the future of sustainable energy and Oman Vision 2040. Oman Convention & Exhibition center.

May 19-21, Abu Dhabi. International Exhibition for National Security & Resilience. This conference focuses on cybersecurity, policing, national security, emergency response, and advanced security technologies. ADNEC.

June 1-4, Baghdad. Iraq Oil and Gas Technology Exhibition. Exploring industry-leading solutions propelling the oil, gas, and energy sectors into the future. Baghdad International Fairground.

June 3-4, Dubai. MENA Investor Conference. Capital market trends, GCC macro outlooks, and investment opportunities in the Middle East and North Africa. The Ritz Carlton DIFC. 

June 5-7, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments and game launches, including GameExpo 2026. Dubai World Trade Center. 

June 10-11, Doha. Project Qatar. The international construction and building materials exhibition showcases cutting-edge innovations and sustainable solutions. Doha Exhibition and Convention Center.

June 15-18, Cairo. Africa Health Excon. An annual event that brings together leaders and policy makers in health care. AlManara International Conference Center. 

June 17-19, Rome: FII Priority Europe.Saudi Arabia’s Future Investment Initiative holds a conference focusing on European business links with the Middle East. Cavalieri, Waldorf Astoria Hotel.

June 17, Tashkent. Investopia Global – Tashkent. The UAE’s flagship investment conference lands in Uzbekistan, bringing together leaders from government and the private sector to create new investment opportunities. Venue TBA.

June 23-24, Abu Dhabi. Forbes Middle East Building the Future Summit. Industry leaders, investors, architects, and innovators explore the trends and technologies shaping the next era of real estate. Conrad Etihad Towers.

June 24, Dubai. Energy & Sustainability Summit. The summit aims to drive forward the effective decarbonization of the Middle East’s construction and energy sectors, in support of Net Zero agendas, and their short- and long-term goals. Habtoor Grand Beach Resort & Spa.

June 23-25, Cairo. Big5 Construct Egypt. Exploring the latest products, innovations and technologies in the construction industry. Egypt International Exhibition Center.

AI CAPTAIN

The UAE will train 80,000 government workers in the use of AI agents as part of a plan to deliver at least half of government services using the technology within two years. The training program will target AI capabilities in five categories: leadership, technical skills, specialist roles, the general workforce and support for trainers. Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, unveiled the plans during a meeting of the UAE Cabinet at Qasr Al Watan palace in Abu Dhabi on Monday. He said the goal was to “be the best government in the world” at adopting Agentic AI.

DESERT EXPRESS

Saudi Arabia’s ultra-luxurious Dream of the Desert unveiled its Riyadh headquarters and announced the appointment of Raffaele Breschi as General Manager and CEO of Arsenale International, overseeing the project. The train was conceived as the kingdom’s answer to the Orient Express and built by Italy’s Arsenale Group. Passengers will pay between $4,000 and $28,000 for the 1,300-kilometer (810-mile) trip through the Saudi desert. The train evokes a gilded vision of Arabian travel, with interiors conceived by architect and interior designer Aline Asmar d’Amman. Each coach features plush sleeper cabins with private bathrooms, marble-accented dining cars serving regional cuisine, and lounges adorned with brass, walnut, and desert-hued fabrics.

Mubadala: Bahrain-based Investcorp Capital, backed by the Abu Dhabi sovereign wealth fund, acquired a diversified U.S. industrial real estate portfolio comprising 19 properties valued at more than $200 million.

Public Investment Fund: Taiba Investments Co., a PIF-backed company, finalized a $633 million deal to develop three hotels owned by Osool Integrated Real Estate in central Madinah.

Qiddiya: The Saudi entertainment city being built by the PIF picked Google Cloud to run its digital systems.

Aramco: Saudi Arabia’s national oil company teamed up with France-based Pasqal to launch the kingdom’s first quantum computer, which Aramco said would be used in efforts to accelerate lower‑carbon fuel development.

AD Ports Group: The Abu Dhabi-owned international ports operator agreed to acquire MBS Logistics, expanding its freight forwarding and logistics network.

Qatar Investment Authority: Doha has launched a $30 million Tech Venture Fund run by Qatar Science and Technology Park under the Qatar Foundation. The first set of partners includes Dubai-based Global Ventures and VentureSouq, as well as San Francisco’s Builders VC, U.S./U.K.-based White Star Capital, and Singapore’s Golden Gate Ventures.

☀️ Sun Power: Oman Nama Power and Water Procurement has signed a major renewables power deal to curb gas reliance, Arabian Gulf Business Insight reports.

🏋️ Money Muscle: UAE-based company GymNation  secured a $100 million investment facility from HPS Investment Partners, part of BlackRock, to expand in the Gulf. 

✈️ Mega Hangar: Emirates broke ground on a $5.1 billion engineering facility in Dubai, which is being delivered by China Railway Construction Corporation.

🚖 Robotaxi Cover: Dubai Insurance was selected as the insurer for Dubai Taxi Co.’s new autonomous taxi fleet

📈 ETF Trailblazer: SAB Invest, the investment arm of Saudi Awwal Bank, became the first market maker for ETFs on Saudi Arabia’s Tadawul Exchange  under new stock market rules.

🚦 Green Light: AI-powered digital Islamic finance platform Mal has secured preliminary approval from the Central Bank of the UAE to launch a bank.

🏰 Palace Living: Abu Dhabi’s opulent Emirates Palace Mandarin Oriental is planning to build 35 private mansions within its grounds. 

🌴 Dubai Style: Indonesia plans to create a tax-free financial center in Bali’s Kura Kura Special Economic Zone, modeled on the Dubai International Financial Centre, the Financial Times reports. 

✈️ Flight Path: Israel has put forward a proposal for Emirates airline to fly direct flights between Tel Aviv and New York, Jewish Insider reports.

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, chaired a UAE Cabinet meeting in the attendance of Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister and Chairman of the Presidential Court; Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defense; and Lt. Gen. Sheikh Saif bin Zayed, Deputy Prime Minister and Minister of Interior.

Sheik Mohammed has inaugurated the Dubai Electricity and Water Authority’s new headquarters in the Al Jaddaf neighborhood.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, met withYvette Cooper,  U.K. Foreign Secretary, on Tuesday, during his working visit to London.

Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director of ADNOC, said in a post on X that a drone assault on the Barakah nuclear plant on Sunday was a “terrorist attack on a peaceful project…, and on the right of every nation to build, to progress, and to deliver clean energy to its people.” 

Robert Smith, Chairman and CEO of Vista Equity Partners, said in a social media post that he met at the Milken Global Summit in Los Angeles earlier this month with Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Global Market, as the firm was preparing to establish an office in the financial center.

Bill Winters, CEO of Standard Chartered Bank, said that cutting 8,000 jobs is not just a cost-cutting move. “It’s replacing, in some cases, lower-value human capital with the financial capital and investment capital we’re putting in,” he told the Financial Times.

Dunja Gottweis, Director of Art Dubai – which wrapped up on Monday – told Artsy that despite being delayed due to the ongoing war in the region, “Our galleries, collectors, and partners have come together and really shown up.”

Archer Fu was appointed Senior Vice President, East, at Aramex, the shipping and logistics company acquired by ADQ.

Saqr Ghobash, Speaker of the UAE Federal National Council, will lead the Council’s delegation on an official visit to the European Parliament in France’s Strasbourg from May 19 to 22.

🎥 Courting Hollywood: Saudi Arabia is raising the stakes in its bid to become a global hub for film production, offering to pay back the majority of production costs and accelerate payouts to attract major productions to the kingdom. In an announcement at the Cannes Film Festival, the Saudi Film Commission said it would increase cash rebates from 40% to 60% of eligible expenditure, improve disbursement processes and create a “more supportive operating environment.”

📷 Photo of the Day

May 18-20, Muscat. Oman Petroleum and Energy Show. Examining the future of sustainable energy and Oman Vision 2040. Oman Convention & Exhibition center.

May 18-19, Riyadh. Stadium and Sports Innovation Summit. The future of stadiums, smart sports infrastructure, and sports innovation in Saudi Arabia. Hyatt Regency Al Olaya.

May 19-21, Abu Dhabi. International Exhibition for National Security & Resilience. This conference focuses on cybersecurity, policing, national security, emergency response, and advanced security technologies. ADNEC.

June 3-4, Dubai. MENA Investor Conference. Capital market trends, GCC macro outlooks, and investment opportunities in the Middle East and North Africa. The Ritz Carlton DIFC. 

June 5-7, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments and game launches, including GameExpo 2026. Dubai World Trade Center. 

June 17-19, Rome: FII Priority Europe: Saudi Arabia’s Future Investment Initiative holds a conference focusing on European business links with the Middle East. Cavalieri, Waldorf Astoria Hotel.

June 17, Tashkent. Investopia Global – Tashkent. The UAE’s flagship investment conference lands in Uzbekistan, bringing together leaders from government and the private sector to create new investment opportunities. Venue TBA.

LAND CORRIDOR

The UAE emirate of Sharjah and Oman have launched a new sea-and-land logistics corridor to diversify Gulf trade routes amid the Strait of Hormuz blockade. The arrangement allows goods to cross borders more easily, giving access to Oman’s east coast ports of Sohar, Duqm and Salalah, The National reports. Since the outbreak of the Iran war, Gulf countries have ramped up trucking routes to allow free movement of goods via alternative routes. Dubai’s new “green corridor” with Oman has become a vital trade artery, with customs declarations surging from 12,000 in March to almost 100,000 in April.

TALENT WAR

Swiss multinational bank UBS Group AG has lost several senior wealth management bankers in the Middle East, less than two years after hiring them. Among those departing are Rana Al Emam and Ali Khunji, who joined UBS from HSBC Holdings in 2024 to expand the bank’s wealth business in Abu Dhabi, Bahrain, and Saudi Arabia. Al Emam moved to Banco Santander, while Khunji joined J. Safra Sarasin earlier this year, Bloomberg reports. The moves are a visible indicator of the intense competition for talent in regional wealth management, though some firms have been recently scaling back since the war with Iran started.

Public Investment Fund: The PIF has been named the official tournament supporter of the 2026 FIFA World Cup in North America and Asia, with the partnership to cover initiatives worldwide, including grassroots movements, youth, women’s football, education and infrastructure, Reuters reports. 

ADQ: Abu Dhabi-listed developer Modon Holding, appointed by ADQ, and U.S.-based ultra-luxury hospitality company Montage Hotels & Resorts, launched Montage Ras El Hekma within the $35 billion Ras El Hekma master plan on Egypt’s Mediterranean coast.

Masdar: The Abu Dhabi green energy company is pushing ahead with the deployment of $45 billion globally despite the Iran war, with plans to deliver 100 gigawatts of capacity by 2030.

AD Ports: AD Ports Group launched the Consortium of UAE Shipbuilders, led by Noatum Maritime, to unite national maritime companies and strengthen collaboration, procurement and competitiveness.

Mubadala: Luca Molinari, Co-CEO of Private Equity at Mubadala, was a guest on Mubadala’s podcast The Exchange, in which he reflects on today’s investment environment.

🔋 Hydrogen Push: Saudi Arabia Refineries Co. signed a deal with China’s Ally Hydrogen Energy to develop a green ammonia plant and hydrogen equipment hub in Jazan Industrial City.

💧 Delta Expansion: Egypt unveiled a $15 billion “New Delta” megaproject aimed at expanding agricultural land and boosting food security through large-scale desert reclamation and infrastructure investment.

💵 Insurance Money: Private equity firm BlueFive Capital will invest $34 million in troubled Saudi-listed insurer Gulf General Cooperative Insurance.

💰 Investing India: The UAE pledged $5 billion in investments across key sectors in India, including energy, defense, infrastructure, shipping and advanced technology, following Prime Minister Narendra Modi’s visit.

🌍 Eying Africa: Power International Holding, owned by the Qatari billionaire Al-Khayyat family, is targeting major African infrastructure projects, including Ethiopia’s planned $12.5 billion airport and a 400-kilometer highway in the Democratic Republic of Congo.

⚓ Sailor Strain: Commercial sailors operating in Gulf shipping lanes are facing mounting danger and exhaustion as the Iran conflict disrupts maritime routes and raises security risks across the region, the Financial Times reports.

🫩 Qatar Challenge: The growing pressure on Qatar’s economy from the Iran war is making it difficult for the country to preserve its role as a stable Gulf financial and diplomatic hub, The New York Times reports.

🏦 Beyond War: Asset managers and hedge funds are expanding in the Middle East and opening new offices, saying the Iran conflict won’t alter their long-term regional commitment, the Financial Times reports.

🚢 Saving Hormuz: Defense firms are preparing to deploy autonomous mine-clearing drones in and around the Strait of Hormuz to reopen shipping lanes, the Financial Times reports.

UAE President Sheikh Mohamed bin Zayed met with Australian Defense Minister Richard Marles on Saturday in Abu Dhabi.

Saudi Crown Prince Mohammed bin Salman and Qatar’s Emir Sheikh Tamim held a phone call on Friday to discuss regional developments. 

Sheikh Shakhboot bin Nahyan, UAE Minister of State at the Ministry of Foreign Affairs, took part in a closed roundtable at Investopia Europe on how the UAE and Italy can multiply private capital into priority African markets.

Jassem Al Zaabi, Group CEO and Managing Director of L’imad Holding, has become central to Abu Dhabi’s efforts to manage its oil wealth amid rising geopolitical risk, Bloomberg reports.

Mohamed Alabbar, the Emirati founder of Emaar Properties, announced that his e-commerce platform Noon plans to launch operations in Syria.

Roberto Mancone was appointed CEO of du Pay, the digital financial services arm of UAE telecom company du.

Lana Nusseibeh, UAE Minister of State, met with Arsenio Dominguez, Secretary General of the International Maritime Organization, on Saturday to discuss Iran’s threats to vessels and seafarers in the Strait of Hormuz.

Dr. Thani Al Zeyoudi, UAE Minister of Foreign Trade, attended the CEO Forum Africa in Rwanda, where he led a delegation of business executives and government officials.

Mohammad Al Hawi, Undersecretary at the UAE Ministry of Investment, led delegates from the UAE to the Investment Summit in Maryland, where they met with U.S. Deputy Under Secretary for International Trade Diane Farrell.

🎮 Game On: Emirati company Red Dunes Games has gone from indie start-up to global player in just four years, growing a catalogue of diverse titles, from publishing 1990s anime-inspired hit “Samurai Pizza Cats: Blast from the Past!” to developing an original game inspired by the UAE’s pearl-diving heritage. The firm was founded by two friends who met in college 25 years ago and charted separate career paths across film, animation, cybersecurity and nuclear energy before finally starting their dream company together, The National reports. “We want people to know that high-quality games can come from Emirati leadership,” Co-Founder Sultan Al Darmaki said.

📷 Photo of the Day

May 15-17, Dubai. Art Dubai. A special edition of the annual event taking place in Dubai, bringing together artists from the region and the Global South. Madinat Jumeirah.

May 15, Milan. Investopia Global – Milan. The UAE investment conference series lands in Europe with a high-level delegation of leaders from companies including EDGE Group, 2PointZero and Khazna Data Centers. Palazzo Mezzanotte. 

May 18, Paris. Investopia Roundtable – Paris. A high level B2B/B2G investment roundtable in Paris that will bring together about 30 senior government officials, business leaders, and investors. Embassy of the UAE in Paris.

May 18-20, Muscat. Oman Petroleum and Energy Show. Examining the future of sustainable energy and Oman Vision 2040. Oman Convention & Exhibition center.

May 18-19, Riyadh. Stadium and Sports Innovation Summit. The future of stadiums, smart sports infrastructure, and sports innovation in Saudi Arabia. Hyatt Regency Al Olaya.

May 19, Abu Dhabi. International Exhibition for National Security & Resilience. This conference focuses on cybersecurity, policing, national security, emergency response, and advanced security technologies. ADNEC.

May 19-21, Abu Dhabi. World Utilities Congress. Global policymakers, industry leaders and innovators discuss transforming the utilities sector into resilient, low‑carbon systems. ADNEC. 

June 3-4, Dubai. MENA Investor Conference. Capital market trends, GCC macro outlooks, and investment opportunities in the Middle East and North Africa. The Ritz Carlton DIFC. 

June 5-7, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments and game launches, including GameExpo 2026. Dubai World Trade Center. 

June 17-19, Rome: FII Priority Europe: Saudi Arabia’s Future Investment Initiative holds a conference focusing on European business links with the Middle East. Cavalieri, Waldorf Astoria Hotel.

June 17, Tashkent. Investopia Global – Tashkent. The UAE’s flagship investment conference lands in Uzbekistan, bringing together leaders from government and the private sector to create new investment opportunities. Venue TBA.

LNG EQUITY

Abu Dhabi’s Mubadala Energy will provide equity financing for a $13 billion liquified natural gas export plant being built on the U.S. Gulf Coast by Caturus, a subsidiary of Kimmeridge Energy Management Co. Mubadala Energy, which already owned a 24% stake in Houston-based Caturus, is backing the project alongside EOC Partners, BlackRock Inc., Canadian Pension Plan Investment Board and a fund managed by Ares, Bloomberg reports. The investment comes as the Gulf’s sovereign wealth funds have continued to push ahead with foreign deal-making, despite the uncertainty surrounding the Iran conflict and the blockade of the Strait of Hormuz, which is blocking oil and gas flows from the region. The UAE, in particular, reaffirmed its plans to invest more than $1 trillion in the U.S. 

OMAN IPO

Oman India Fertiliser Co. is weighing an IPO that could value the company at more than $2.5 billion, potentially making it one of the Sultanate’s biggest stock offerings. The fertilizer producer, which is backed by the Oman Investment Authority and the Indian government, is planning to raise several hundred million dollars, with shareholders selling a combined stake of about 25%, Bloomberg reports. It comes amid a rally in fertilizer prices driven by the regional conflict and would offer a welcome boost for both the Muscat exchange and the wider Middle East region, where deal flow had already started to slow down before the war began. Société Générale, Arqaam Capital Ltd. and Bank Muscat SAOG are among the arrangers working on the deal. 

G42: Shares in California-based chipmaker Cerebras, which counts UAE tech investor G42 among its biggest customers, soared 68% on the first day of trading on the Nasdaq, valuing the company at $67 billion.

G42: Presight signed an agreement with the Ministry of the Interior of Montenegro to develop a next-generation AI-powered “Smart Nation” platform to oversee infrastructure, traffic management, public safety, and integrated emergency response systems.

Mubadala: Emirates Global Aluminium is in advanced talks to buy a stake in Omani rival Sohar Aluminium as it expands outside the UAE and adapts after Iran-related disruptions forced major production cuts and shipping changes, Reuters reports. 

DP World: The Dubai-owned port operator said it remains bullish on African expansion despite inflation pressures linked to the Iran war and will keep investing in countries including Mozambique and Congo, Bloomberg reports.

Masdar: Masdar and German energy company RWE received U.K. approval for the 3-gigawatt Dogger Bank South offshore wind projects.

💰 Retail Finance: Gulf retail group Brands For Less secured a $68 million sustainability-linked Islamic financing facility from Emirates Islamic to support its operations and working capital needs.

🚧 Housing Investments: VIE Communities, an Emirati-Egyptian joint venture, launched operations in Egypt with two mixed-use developments in New Cairo valued at a combined $2.8 billion.

⚖️ Nearing Settlement: Indian billionaire Gautam Adani and his nephew Sagar have agreed to pay a total of $18 million to settle U.S. Securities and Exchange Commission allegations that they made false and misleading representations about Adani Green Energy, Bloomberg reports.

🤖 Expanding Reach: Vista Equity Partners, a U.S. tech-focused private equity company, opened an office in Abu Dhabi Global Market.

👍 Good News: Senegal is nearing a new agreement with the International Monetary Fund after talks to resolve its debt issues, Abdullah Almusaibeeh, the President of Riyadh-based lender Arab Bank for Economic Development in Africa, said in a Bloomberg Television interview.

🏭 Smelter Plans: Commodity trader Trafigura is considering a $900 million aluminum smelter project in Egypt that would rely on renewable energy, part of Cairo’s push to attract industrial investment.

UAE President Sheikh Mohamed bin Zayed welcomed Indian Prime Minister Narendra Modi upon his arrival in the UAE for an official visit on Friday.

Sheikh Mohamed met with a delegation from the UAE defense company EDGE Group on Thursday. 

Sheikh Mohamed and Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, met with Will Ahmed, CEO of Whoop, last week in Abu Dhabi, according to an Instagram post by the Egyptian-American entrepreneur. 

Sheikh Khaled chaired a meeting of the Executive Committee of the ADNOC Board of Directors, held at the company’s headquarters in Abu Dhabi today.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, met with the U.K.’s Deputy Prime Minister David Lammy in London on Thursday, where they discussed the repercussions of the ongoing conflict with Iran.

Richard Attias, the events impresario who consults for Saudi Crown Prince Mohammed bin Salman, accompanied U.S. President Donald Trump to Beijing, Intelligence Online reports.

Bob Diamond, the former Barclays CEO, praised the response in the Gulf to the Iran war, saying, “I probably have more confidence today in the leadership and the future of the economies like Qatar and the UAE.”

Mariam Almheiri, Vice Chair and Managing Director of 2PointZero, a subsidiary of Abu Dhabi’s International Holding Co., appeared on Morning Joe to discuss the company’s anti-poverty efforts with New York’s Global Citizen.

Nabil Sultan was appointed CEO of Dubai-based dnata, Loadstar reports. Sultan joins dnata from Emirates Cargo. 

Dwayne Lysaght and Alberto Piana were appointed as Co-Heads of Investment Banking for the EMEA region at U.S. investment bank JPMorgan, as part of a wider leadership shuffle.

Omran Sharaf, UAE Assistant Foreign Minister for Advanced Science and Technology, led a delegation to the U.S. to discuss further cooperation across critical, emerging, and advanced technologies.

🎭 Abu Dhabi Orb: An international version of the blockbuster Sphere Vegas is expected to open on Abu Dhabi’s Yas Island by 2029. The $1.7 billion Sphere Abu Dhabi is being built between Yas Mall and SeaWorld Abu Dhabi and will have a capacity of 20,000 people. It will be used for concert residencies, combat sports and business conferences.

📷 Photo of the Day

May 15-17, Dubai. Art Dubai. A special edition of the annual event taking place in Dubai, bringing together artists from the region and the Global South. Madinat Jumeirah.

May 15, Milan. Investopia Global – Milan. The UAE investment conference series lands in Europe with a high-level delegation of leaders from companies including EDGE Group, 2PointZero and Khazna Data Centers. Palazzo Mezzanotte. 

May 18, Paris. Investopia Roundtable – Paris. A high level B2B/B2G investment roundtable in Paris that will bring together about 30 senior government officials, business leaders, and investors. Embassy of the UAE in Paris.

May 18-20, Muscat. Oman Petroleum and Energy Show. Examining the future of sustainable energy and Oman Vision 2040. Oman Convention & Exhibition center.

May 18-19, Riyadh. Stadium and Sports Innovation Summit. The future of stadiums, smart sports infrastructure, and sports innovation in Saudi Arabia. Hyatt Regency Al Olaya.

May 19, Abu Dhabi. International Exhibition for National Security & Resilience. This conference focuses on cybersecurity, policing, national security, emergency response, and advanced security technologies. ADNEC.

May 19-21, Abu Dhabi. World Utilities Congress. Global policymakers, industry leaders and innovators discuss transforming the utilities sector into resilient, low‑carbon systems. ADNEC. 

June 3-4, Dubai. MENA Investor Conference. Capital market trends, GCC macro outlooks, and investment opportunities in the Middle East and North Africa. The Ritz Carlton DIFC. 

June 5-7, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments and game launches, including GameExpo 2026. Dubai World Trade Center. 

June 17-19, Rome: FII Priority Europe: Saudi Arabia’s Future Investment Initiative holds a conference focusing on European business links with the Middle East. Cavalieri, Waldorf Astoria Hotel.

June 17, Tashkent. Investopia Global – Tashkent. The UAE’s flagship investment conference lands in Uzbekistan, bringing together leaders from government and the private sector to create new investment opportunities. Venue TBA.

AI RAISING

AI Chipmaker Cerebras Systems, a central partner in the UAE’s AI ambitions, has raised $5.5 billion ahead of its listing on the Nasdaq today, in the biggest IPO in the U.S. this year. The California-based startup, which counts UAE tech investor G42 and Abu Dhabi’s Mohamed bin Zayed University of Artificial Intelligence among its biggest customers, priced its shares at $185 each, valuing the company at about $40 billion. G42, which is chaired by UAE National Security Advisor Sheikh Tahnoon bin Zayed, bought about 1% of Cerebras for $40 million in 2021, meaning it stands to reap a substantial paper windfall in the IPO. Earlier this year, Cerebras made a $10 billion deal to supply Sam Altman’s OpenAI with more than 750 megawatts of computing power over three years.

MERGING TRAFFIC

Dubai Taxi Company has agreed to acquire rival National Taxi for $395 million, strengthening its position in the UAE market. The deal will lift DTC’s Dubai market share to 59% and expand its presence into Abu Dhabi, with the combined fleet expected to exceed 14,000 vehicles. National Taxi operates more than 2,700 vehicles across Dubai, Abu Dhabi, and Al Ain.  The deal will also see the integration of digital platforms as DCT expands its driverless taxi services, following its partnership with China’s Baidu to launch more than 1,000 autonomous vehicles on Dubai’s roads.

Masdar: The Abu Dhabi green energy company has signed a deal with JinkoSolar, one of China’s biggest solar suppliers, to purchase 2 gigawatts of solar modules for the world’s first gigascale round-the-clock renewable energy project in Abu Dhabi.

Saudi Aramco: Saudi oil production plunged another 651,000 barrels a day in April to 6.3 million barrels daily, the kingdom’s lowest output since 1990, Bloomberg reports.

ADNOC: Youssef Salem, CFO of ADNOC Drilling, a subsidiary of ADNOC, told Arabian Gulf Business Insight that the company is accelerating the expansion of its Gulf fleet despite the ongoing geopolitical issues. “There has been significant underinvestment in oil and gas capacity globally,” he said.

ADNOC: An ADNOC Logistics & Services tanker struck by two Iranian drones off Oman released a small amount of bunker fuel into the sea while remaining anchored for repairs. 

M42: The Abu Dhabi medical company and Sweden’s Diaverum have launched a free AI-powered kidney health assistant offering personalized, multilingual education and tools.

Oman Investment Authority: Asyad Group said that Muscat Airport Free Zone signed an agreement with Nama Real Estate to build and operate a 25,000-square-meter business complex, officially launching development within the zone.

💶 Gulf Entry: Andreessen Horowitz, the U.S. venture capital firm, is making its first Gulf investment by leading a $25 million Series A round in Riyadh-based fintech software startup Stitch.

🚧 New Development: Aldar Properties has acquired a $290 million residential and retail development in Dubai Studio City from SRG to build a rental community by 2028.

💻 Local AI: The UAE Cyber Security Council and CPX Holding have launched the UAE Cyber Factory initiative to develop sovereign AI-powered cyber defense technologies.

💷 Islamic Guarantee: Dubai-based developer Arada secured its first sustainability-linked $100 million Islamic financing facility from First Abu Dhabi Bank, guaranteed by SACE.

🤝 Board Expansion: Executives from Alphabet, Coca-Cola, ExxonMobil and BlackRock joined an expanded board of the U.S.-Saudi Business Council, Arab News reports.

✈️ Flight Fallout: Middle East airlines and airports are facing more than $1 billion in losses from the Iran war, an Airports Council International survey found.

🛡️ NATO Outreach: NATO plans to invite the UAE, Qatar, Kuwait and Bahrain to next month’s summit in Ankara as the alliance weighs Gulf security cooperation and maritime protection strategies amid the Iran war, Bloomberg reports.

☎️ Fiber Surge: Israeli telecoms company Bezeq said it plans to lay a new subsea cable linking Europe and Asia, reducing dependency on the Strait of Hormuz.

UAE President Sheikh Mohamed bin Zayed held a phone call with Syrian President Ahmed al-Sharaa.

Sheikh Mohamed and Qatar’s Emir Sheikh Tamim bin Hamad held a phone call on Wednesday to discuss regional developments.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, chaired the Ministerial Council for Artificial Intelligence and Development meeting that took place at Qasr Al Watan in Abu Dhabi on Wednesday.

Bill Ford, CEO of General Atlantic, said the buyout firm continues to see opportunities with Gulf sovereign wealth funds when looking past the Iran war, telling Bloomberg: “The capital providers in the region are still making commitments, they’re still actively engaged with us.”

Cristiano Ronaldo, the billionaire footballer who plays for Saudi Pro League team Al Nassr, told Bloomberg that the reason why he bought a stake in LiveModeTV, the international streaming channel linked to Brazil’s CazéTV, is to expand into digital media ahead of the next World Cup and put “sports out there for everyone.”

Hunter Hunt, Co-President of Hunt Consolidated, said damage to oil infrastructure from the Iran War “has been everybody’s worst-case nightmare scenario of planning,” Bloomberg reports.

Anwar Gargash, ​an ⁠adviser to ‌the UAE President, ​said on Wednesday ​that the country remains ​committed to political solutions ⁠and diplomacy amid regional tensions, while stressing ​the ‌country’s right to ⁠defend its ⁠sovereignty.

Jasem Albudaiwi, GCC Secretary-General, said on Wednesday that the security of the council members is “indivisible,” calling for intensified coordination against regional threats.

🎥 On Set: Arab films are making a strong showing at this year’s Cannes Film Festival, which kicked off Tuesday, drawing global stars, filmmakers and investors to the glittering French Riviera. This year’s lineup includes features by Moroccan, Palestinian and Yemeni directors, as well as shorts from Tunisia, Syria, Algeria, Lebanon, Morocco and Sudan, The National reports. Among the standouts is Oscar-winning Egyptian-French filmmaker Arthur Harari’s “The Unknown.” The film, competing in the main competition, follows a photographer who wakes up in the body of an unknown woman.

📷 Photo of the Day

May 15-17, Dubai. Art Dubai. A special edition of the annual event taking place in Dubai, bringing together artists from the region and the Global South. Madinat Jumeirah.

May 15, Milan. Investopia Global – Milan. The UAE investment conference series lands in Europe with a high-level delegation of leaders from companies including EDGE Group, 2PointZero and Khazna Data Centers. Palazzo Mezzanotte. 

May 18, Paris. Investopia Roundtable – Paris. A high level B2B/B2G investment roundtable in Paris that will bring together about 30 senior government officials, business leaders, and investors. Embassy of the UAE in Paris.

May 18-20, Muscat. Oman Petroleum and Energy Show. Examining the future of sustainable energy and Oman Vision 2040. Oman Convention & Exhibition center.

May 18-19, Riyadh. Stadium and Sports Innovation Summit. The future of stadiums, smart sports infrastructure, and sports innovation in Saudi Arabia. Hyatt Regency Al Olaya.

May 19, Abu Dhabi. International Exhibition for National Security & Resilience. This conference focuses on cybersecurity, policing, national security, emergency response, and advanced security technologies. ADNEC.

May 19-21, Abu Dhabi. World Utilities Congress. Global policymakers, industry leaders and innovators discuss transforming the utilities sector into resilient, low‑carbon systems. ADNEC. 

June 3-4, Dubai. MENA Investor Conference. Capital market trends, GCC macro outlooks, and investment opportunities in the Middle East and North Africa. The Ritz Carlton DIFC. 

June 5-7, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments and game launches, including GameExpo 2026. Dubai World Trade Center. 

June 17-19, Rome: FII Priority Europe: Saudi Arabia’s Future Investment Initiative holds a conference focusing on European business links with the Middle East. Cavalieri, Waldorf Astoria Hotel.

June 17, Tashkent. Investopia Global – Tashkent. The UAE’s flagship investment conference lands in Uzbekistan, bringing together leaders from government and the private sector to create new investment opportunities. Venue TBA.

HQ FOR SALE

Saudi Aramco is seeking to raise at least $10 billion from the sale of real estate assets in a deal which could include its sprawling Dhahran campus in the Eastern Province. The property houses the state-owned oil giant’s headquarters and a community housing thousands of employees. If it goes ahead, the deal would be among the biggest in Aramco’s history, nearing the $11 billion lease agreement signed last year by a BlackRock-led group for facilities that serve Aramco’s Jafurah gas project, Bloomberg reports. The company is also working on deals that include the sale of stakes in its oil export and storage terminals, gas-fired power plants and water infrastructure business, the news agency reports.

DAMASCUS REVIVAL

Syria is front and center on the agenda of Dubai developer Mohamed Alabbar, who is planning to invest some $18 billion in the country’s war-blighted economy. The Emaar founder said in multiple interviews that he is assessing projects along the Syrian coast and around Damascus. “I think [it’s] time for somebody like me to come in and put my teeth in,” Alabbar told The National. Meanwhile, Syria’s President Ahmed al-Sharaa met with UAE Trade Minister Thani Al Zeyoudi on Tuesday to discuss expanding commercial ties.

Mubadala: The Abu Dhabi sovereign wealth fund invested $325 million in Ørsted’s Hornsea 3 offshore wind project in the U.K., which is expected to become the world’s largest offshore wind farm.

ADNOC: ADNOC Drilling said it is ready to help the UAE raise oil production capacity beyond 5 million barrels per day if requested after the country’s exit from OPEC.

Public Investment Fund: Riyadh Air, the new flag carrier controlled by the PIF, launched the Nawat Cabin Crew Program to train thousands of Saudis as it prepares for commercial launch.

Public Investment Fund: Rory McIlroy, the Masters champion, said he “is glad I was wrong” about previously trying to convince the PGA Tour to work on a deal with the PIF, after the Saudi sovereign fund pulled its support for LIV Golf.

Qatar Investment Authority: The QIA and Brookfield are refinancing the Two Manhattan West office tower with a $1.9 billion Commercial Mortgage-Backed Securities loan.

International Holding Co.: AI giant Anthropic, which is backed by Gulf sovereign funds including IHC’s Judan Financial and the Qatar Investment Authority, is in talks to raise $30 billion at a $900 billion valuation, Bloomberg reports.

⚓ Maritime Help: India on Tuesday launched the $1.5 billion Bharat Maritime Insurance Pool, backed by a $1.4 billion sovereign guarantee, to ensure uninterrupted maritime insurance coverage amid the Iran conflict.

🚛 Keep On Truckin’: Middle East trucking platform TruKKer secured an Islamic-compliant loan of up to $300 million from Abu Dhabi Commercial Bank to fund its regional expansion.

🛢️ Syria Block: QatarEnergy, TotalEnergies and ConocoPhillips signed an agreement with the Syrian Petroleum Co. to review offshore oil and gas potential in Syria’s Block 3 near Latakia.

🪖 Discreet Attack: Saudi Arabia secretly launched multiple retaliatory strikes inside Iran during the war, marking the kingdom’s first known direct military action on Iranian soil, Reuters reports. 

🏠 Team Houses: Abu Dhabi developer Aldar Properties will build five new residential communities, including on an undeveloped island within the northern coast, under a public-private partnership model.

🛢️ Idle Ships: Satellite images show oil shipments from Iran’s main export terminal appear to have come to a standstill over several days, Bloomberg reports.

🚘 Ticket Bots: Dubai’s public parking operator Parkin is installing more than 500 AI-powered curb and pole cameras, including at the Burj Khalifa, in a high-tech drive to boost parking enforcement, The National reports.

UAE President Sheikh Mohamed bin Zayed held a phone call with U.S. President Donald Trump on Tuesday. Sheikh Mohamed also held a phone call with Saudi Arabia’s Crown Prince Mohammed bin Salman. 

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, reviewed progress on a project to transform 50% of UAE government sectors and services within two years by deploying agentic AI.

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

Saudi Princess Reema Bandar Al Saud, Saudi Arabia’s Ambassador to the U.S., met with ambassadors from the GCC and Jordan on Tuesday at a luncheon hosted by Under Secretary of State Jacob Helberg at the U.S. State Department.

Suhail bin Mohammed Al Mazrouei, UAE Minister of Energy and Infrastructure, said during a discussion at Abu Dhabi Infrastructure Summit that the UAE capital will lead the country’s largest wave of infrastructure spending over the next four years.

Dorothee Blessing, Investment banking coverage chief, Kevin Foley, global head of capital markets, and Jared Kaye, global co-head of the financial institutions group, will be appointed co-heads of global investment banking at JPMorgan Chase & Co., the Financial Times reports.

James Hogan, the former Etihad Airways CEO who helped build the Gulf aviation model, told Arabian Gulf Business Insight it will take between 12 months and two years for Gulf airlines to recover from the Iran war.

Tariq Atiq was named CEO of Nizwa Bank after he joined the Omani lender late last year as deputy chief executive.

📽️ Movie Magic: The Red Sea Film Foundation announced its six honorees for its Women in Cinema Gala, an annual event held at the Hotel Du Cap, as the Cannes Film Festival kicked off on Tuesday. The gala spotlights the contributions of female filmmakers, creators, actors and executives to the entertainment industry. This year’s lineup includes Moroccan filmmaker Laïla Marrakchi, Nigerian actress-producer Genevieve Nnaji, Indian actress-singer Tara Sutaria, Rwandan filmmaker Marie-Clementine Dusabejambo, Indonesian filmmaker Kamila Andani and Saudi actress-writer Aixa Kay, Deadline reports. 

📷 Photo of the Day

May 12-14, Abu Dhabi. Abu Dhabi Infrastructure Summit. Discussing the future of smart cities, urban development, and sustainable infrastructure. ADNEC. 

May 15-17, Dubai. Art Dubai. A special edition of the annual event taking place in Dubai, bringing together artists from the region and the Global South. Madinat Jumeirah.

May 15, Milan. Investopia Global – Milan. The UAE investment conference series lands in Europe with a high-level delegation of leaders from companies including EDGE Group, 2PointZero and Khazna Data Centers. Palazzo Mezzanotte. 

May 18, Paris. Investopia Roundtable – Paris. A high level B2B/B2G investment roundtable in Paris that will bring together about 30 senior government officials, business leaders, and investors. Embassy of the UAE in Paris.

May 18-20, Muscat. Oman Petroleum and Energy Show. Examining the future of sustainable energy and Oman Vision 2040. Oman Convention & Exhibition center.

May 18-19, Riyadh. Stadium and Sports Innovation Summit. The future of stadiums, smart sports infrastructure, and sports innovation in Saudi Arabia. Hyatt Regency Al Olaya.

May 19, Abu Dhabi. International Exhibition for National Security & Resilience. This conference focuses on cybersecurity, policing, national security, emergency response, and advanced security technologies. ADNEC.

May 19-21, Abu Dhabi. World Utilities Congress. Global policymakers, industry leaders and innovators discuss transforming the utilities sector into resilient, low‑carbon systems. ADNEC. 

June 3-4, Dubai. MENA Investor Conference. Capital market trends, GCC macro outlooks, and investment opportunities in the Middle East and North Africa. The Ritz Carlton DIFC. 

June 5-7, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments and game launches, including GameExpo 2026. Dubai World Trade Center. 

June 17-19, Rome: FII Priority Europe: Saudi Arabia’s Future Investment Initiative holds a conference focusing on European business links with the Middle East. Cavalieri, Waldorf Astoria Hotel.

June 17, Tashkent. Investopia Global – Tashkent. The UAE’s flagship investment conference lands in Uzbekistan, bringing together leaders from government and the private sector to create new investment opportunities. Venue TBA.

RED SEA AMMONIA

Jordan has signed a $1 billion agreement to build its first utility-scale green ammonia plant, as the kingdom pushes to establish itself as a regional hub for clean fuels and green hydrogen exports. The project, led by Jordan Green Ammonia Co., a Polish-Emirati consortium backed by Dutch expertise, will use off-grid solar power with up to 550 megawatts of renewable generation capacity to produce 100,000 tonnes of green ammonia annually. Located in Aqaba, the facility is expected to begin operations in 2030 and underscores the strategic importance of the Red Sea port as a gateway for exporting low-carbon energy products. Officials said the development would cut more than 200,000 tonnes of carbon emissions a year while attracting foreign investment, advanced technology and skilled jobs to Jordan’s emerging green industrial sector.

DEALS OFF

The Gulf’s rise as a global dealmaking powerhouse is facing its toughest test in years, as fees, IPOs and cross-border transactions all retreat in tandem, the Financial Times reports. After a strong first quarter which saw investment bank revenues on track to surpass $1 billion for the first time in almost two decades, fees are now down 14% for the first four months of the year, according to figures from data platform Dealogic. More than $106 billion in North American and European deals contingent on Gulf commitments remain incomplete and the highly-anticipated IPO of Emirates Global Aluminium, valued at more than $10 billion, has been pushed to at least next year, the newspaper reports. “In the short term, heightened uncertainty has created a more cautious environment, with some IPOs and cross-border transactions delayed as investors reassess risk and valuation expectations,” Jelena Janjusevic, a finance professor at Heriot-Watt University Dubai, said. 

Qatar Investment Authority: QIA and General Atlantic have expanded their strategic partnership, with the sovereign wealth fund committing $500 million to General Atlantic’s global growth equity investment strategies.

G42: Ashish Koshy, CEO of Inception, an AI company owned by G42, said in an interview that talent shortages and slow adoption are the main constraints on the UAE’s AI ambitions.

ADNOC: ADNOC Gas said the UAE’s key Habshan Gas Processing Plant, damaged during the Iran war, is operating at 60% capacity and is not expected to fully recover until 2027, Bloomberg reports.

Abu Dhabi Investment Authority: Innio Holding, backed by private equity firm Advent International and ADIA, filed for a U.S. IPO amid strong investor demand for industrial companies tied to booming AI-driven data center spending.

Mumtalakat: Singapore Gulf Bank, a company co-owned by Bahrain’s sovereign fund Mumtalakat and Whampoa Group, announced a partnership with Standard Chartered to enhance multi-currency and cross-border payment services across emerging markets in the Middle East and Asia.

🏭 Projects Pipeline: Abu Dhabi has unveiled a $15 billion public-private partnership pipeline of 24 transport, infrastructure, and social sector projects, led by the Abu Dhabi Investment Office and Abu Dhabi Projects and Infrastructure Centre, with rollout planned for 2026 and 2027.

🫙 Bottle IPO: A bottling company controlled by the billionaire Olayan family is among a raft of companies pressing ahead with plans to list in Saudi Arabia, potentially helping Riyadh’s stock exchange rebound and filling a gap in regional IPOs, Bloomberg reports. 

⛏ Digging Deep: Oman-based Mawarid Mining has secured a $166 million Islamic-compliant financing facility to develop Oman’s first underground copper mine.

⚡ Joining Forces: Oman power producers Al Batinah Power Company SAOG and Al Suwadi Power Company SAOG are looking into a possible merger of their operations. 

🚀 Secret Retaliation: The UAE carried out missile strikes on Iranian targets, including an oil refinery on Lavan Island, in response to Iran’s barrages, The Wall Street Journal reports.

💵 Forging Ahead: Arada’s CEO Ahmed Alkhoshaibi said the company plans to launch new projects in Dubai and Ras Al Khaimah this year, including a downtown development, despite market uncertainty linked to the Iran war.

💰 New Venture: Al Ramz Corporation has launched ARAM Capital Partners, a wholly owned subsidiary based in Abu Dhabi Global Market that will provide research-driven investment solutions across GCC and MENA markets.

🏢 Property Dive: Saudi Arabia’s real estate market has weakened sharply, with first-quarter transactions dropping by half and March sales falling nearly two-thirds year-on-year as regional tensions hit buyer sentiment.

⚓ Quiet Down: Qatar is asking ships at its main liquefied natural gas export facility to turn off their transponders as a safety measure amid the threat of attacks from Iran, Bloomberg reports.

UAE President Sheikh Mohamed bin Zayed held a phone call with Ukrainian President Volodymyr Zelenskyy on Monday.

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, discussed the latest regional developments with his Iranian and Pakistani counterparts in separate calls on Monday.

Prince Faisal arrived in the U.K. on Monday, where he is expected to meet with Yvette Cooper, the Secretary of State for Foreign, Commonwealth and Development Affairs.

Sheikh Theyab bin Mohamed, Chairman of Etihad Rail, met with Shadi Malak, CEO of Etihad Rail, along with a number of the company’s senior leaders and employees, at Qasr Al Watan in Abu Dhabi on Monday to review final preparations for its freight and passenger rail projects, with passenger services set to launch later in 2026.

India’s Prime Minister Narendra Modi, will make an official visit on Friday to the UAE,  where he is expected to meet with the country’s leaders before embarking on a six-day tour of Europe.

Nicolas Sibuet was appointed as Chief Financial & Corporate Development Officer of Dubai-based logistics company Aramex.

Raja Al Mazrouei was appointed to the advisory board of Board Intelligence, a board technology and advisory firm.

🏁 Desert Rally: An intrepid group of motoring enthusiasts and their historic cars have completed a 13-day, 5,000-kilometer (3,106-mile) rally across the Saudi Arabian desert in one of the most demanding endurance rallies in the global calendar, even as this year’s Formula 1 Jeddah Grand Prix was shelved amid the outbreak of the Iran war. Among them was Spanish-British aristocrat, entrepreneur, and rally organizer Tomas de Vargas Machuca, driving a 1907 Itala, The Telegraph reports. The 120-year-old car drew plenty of attention from locals as it limped its way up the famed Sha’ar Pass, one of the most hazardous roads in the Kingdom, at 14-miles-per-hour and eventually puttered across the finish line in a respectable fifth place.

📷 Photo of the Day

May 11-13, Muscat. Oman Design and Build Week. Oman’s largest construction, design, and real estate event. Oman Exhibition and Convention Center. 

May 12-14, Abu Dhabi. Abu Dhabi Infrastructure Summit. Discussing the future of smart cities, urban development, and sustainable infrastructure. ADNEC. 

May 15-17, Dubai. Art Dubai. A special edition of the annual event taking place in Dubai, bringing together artists from the region and the Global South. Madinat Jumeirah.

May 18-20, Muscat. Oman Petroleum and Energy Show. Examining the future of sustainable energy and Oman Vision 2040. Oman Convention & Exhibition center.

May 18-19, Riyadh. Stadium and Sports Innovation Summit. The future of stadiums, smart sports infrastructure, and sports innovation in Saudi Arabia. Hyatt Regency Al Olaya.

May 19, Abu Dhabi. International Exhibition for National Security & Resilience. This conference focuses on cybersecurity, policing, national security, emergency response, and advanced security technologies. ADNEC.

May 19-21, Abu Dhabi. World Utilities Congress. Global policymakers, industry leaders and innovators discuss transforming the utilities sector into resilient, low‑carbon systems. ADNEC. 

June 3-4, Dubai. MENA Investor Conference. Capital market trends, GCC macro outlooks, and investment opportunities in the Middle East and North Africa. The Ritz Carlton DIFC. 

June 5-7, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments and game launches, including GameExpo 2026. Dubai World Trade Center. 

June 17-19, Rome: FII Priority Europe: Saudi Arabia’s Future Investment Initiative holds a conference focusing on European business links with the Middle East. Cavalieri, Waldorf Astoria Hotel.

June 17, Tashkent. Investopia Global – Tashkent. The UAE’s flagship investment conference lands in Uzbekistan, bringing together leaders from government and the private sector to create new investment opportunities. Venue TBA.