STAYING PUT

The UAE is expected to ease tax residency rules for expats who left amid the Iran conflict. Authorities are signaling that they’ll allow residents to spend longer periods abroad without losing their favorable tax status – in an effort, aiming to encourage their return, The Financial Times reports. The policy could be especially significant for Dubai, which has attracted high-net-worth individuals with its tax appeal. The adjustment reflects the UAE’s effort to protect its status as a global hub for mobile wealth and talent, the FT notes.

MUSK DEBUT

Elon Musk’s Starlink service launched today in the UAE, offering market-beating plans for both residential and business customers. The rollout illustrates Starlink’s expanding role in the Middle East, both as a major boost to connectivity and a growing source of tension, Gulf News reports. As adoption spreads across the Gulf, including upcoming in-flight Wi-Fi on Emirates Airlines, the service is stirring controversy in Iran. Authorities have seized hundreds of smuggled terminals over concerns about unrestricted internet access. Starlink is already available in more than 150 countries and territories.

Presight: The data analytics firm owned by Abu Dhabi-based G42 has begun deploying capital from its artificial intelligence investment fund, backing early projects aimed at expanding AI applications.

Public Investment Fund: PIF-owned Electronic Gaming Development Co. acquired a 5% stake in Capcom, the Japanese video game company, bringing the Kingdom’s total holding to about 10% alongside the PIF ’s existing stake.

NEOM: The PIF-owned mega-project has terminated a $1 billion tunnelling contract with Hyundai Engineering & Construction for its urban development in western Saudi Arabia, “The Line.”

Oman LNG: Oman has kept a limited stream of liquefied natural gas shipments moving despite the regional conflict, providing one of the few remaining Gulf export outlets as the war and shipping risks disrupt energy flows through the Strait of Hormuz, Bloomberg reports.

G42: Talal M. Al Kaissi, interim CEO of Core42, a G42 company, said he was “on the ground” at the NVIDIA GTC event in San Jose, Calif., for CEO Jensen Huang’s keynote address.

Saudi Aramco: Wa’ed Ventures, Aramco’s $500 million VC arm, has invested in Resemble AI, a California-based developer of AI voice generation and real-time deepfake detection.

📈 Price Shock: Middle East crude benchmarks surged to record highs as the Iran war disrupts tanker traffic and cuts supply, with Cash Dubai crude rising to $157.66 a barrel and Oman crude topping $152.

💶 Asian Pledge: Sumitomo Mitsui Banking Corp. asked Asian banks to reconfirm commitments to a $1.5 billion Saudi loan deal amid Iran conflict risks.

🏦 Bank Warning: S&P Global Ratings warned Gulf banks could face up to $307 billion in deposit outflows if the Iran war intensifies, though regulators say lenders remain well capitalized with hundreds of billions of dollars in liquidity buffers.

🔥 Power Shift: Israeli startup Niv-AI raised $12 million in a seed round led by Glilot Capital Partners to develop software that manages electricity use in data centers, helping AI processors run heavy workloads without overloading power grids.

💲Chilling Time: The UAE central bank introduced a resilience package allowing banks greater liquidity access, regulatory relief, and flexibility on loan classifications to support lending and the economy amid regional market strain from the Iran war.

🍷 Dry Capital: Syrian authorities imposed a ban on alcohol in Damascus as the government tightens social restrictions during wartime conditions, affecting restaurants, bars and nightlife in the capital.

🛢️ Refinery Hunt: Asian refiners are searching global markets for crude from Africa and the Americas as Middle East supplies shrink and shipping through Hormuz halts, forcing some plants to cut operating rates, Bloomberg reports.

UAE President Sheikh Mohamed bin Zayed held a phone call with Indian Prime Minister Narendra Modi to talk about the Iran conflict.

King Hamad bin Isa Al Khalifa of Bahrain received a phone call from the U.S. President Donald Trump to discuss issues connected to the war.

Qatar’s Emir Sheikh Tamim bin Hamad Al Thani met with King Abdullah II of Jordan on Tuesday to discuss war issues.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, spoke with Marco Rubio, the U.S. Secretary of State of the U.S., Khaled El-Enany, Director-General of UNESCO, and Sheikh Jarrah Al-Sabah, Minister of Foreign Affairs of Kuwait.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defense, met with Sébastien Bazin, Chairman and CEO of Accor Group.

Dr. Anwar Gargash, Diplomatic Adviser to the President of the UAE, discusses the rapidly evolving conflict involving Iran, Israel, and the United States in an online interview with the Council on Foreign Relations, and its implications for the Middle East.

Paul Griffiths, CEO of Dubai Airports, said in an interview with CNN that Dubai will bounce back very quickly from the war, adding that expansion Dubai airports will not be suspended. 

Hayyan Abdul Ghani, the Iraqi Oil ⁠Minister, told the state news ​agency on Tuesday that there is ongoing communication with Iran regarding allowing the passage of some Iraqi oil tankers.

Thani Al Zeyoudi, the UAE Minister for Foreign Trade, met with leaders of the gold industry in Dubai to discuss business continuity, supply-chain resilience and public-private collaboration.

Brandon Craig was appointed CEO of BHP Group, the world’s biggest mining company, which sells to steelmakers and other industrial buyers across the Middle East.

🦅  Museum Moment: Abu Dhabi’s Zayed National Museum has been named to TIME’s “World’s Greatest Places 2026” list, placing it among 100 destinations worldwide recognized for their cultural significance and visitor experience. Located in the Saadiyat Cultural District, the museum – crafted by architect Norman Foster to recall the shape of a falcon’s wings – traces 300,000 years of human history in the region and highlights the legacy of the UAE’s founder, Sheikh Zayed bin Sultan Al Nahyan.

March 23- 27, Houston, Texas. CERAWEEK. The annual event gathers global leaders to discuss energy transition, technology, and policy. Hilton Americas-Houston and George R. Brown Convention Center .

March 25-27, Miami Beach, Fla. FII PRIORITY Miami 2026. Saudi Arabia’s Future Investment Initiative holds an annual U.S. conference. Faena Hotel.

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC. 

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental. 

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 20-22, Riyadh. Future Aviation Forum. Exploring the future of air transport, sustainability, advanced air mobility, and artificial intelligence. King Abdulaziz International Conference Center.

April 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 24-26, 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.

DRUG DETOURS

Disruptions to Middle East airspace are forcing pharmaceutical companies to reroute cargo flights carrying temperature-sensitive medicines, raising concerns about delays to shipments of treatments, including cancer drugs. Airlines are diverting aircraft around closed corridors over Iran and parts of the Gulf, adding hours to delivery times and complicating cold-chain logistics, Reuters reports. Industry executives say longer routes increase the risk of temperature fluctuations that can damage sensitive biologic medicines. Companies are now shifting shipments through alternative hubs in Europe and Asia while monitoring supply risks if the conflict persists.

RIYADH IN MIAMI

Global investors, tech executives and, possibly, President Donald Trump, will converge on Miami Beach next week for the U.S. edition of Saudi Arabia’s annual Future Investment Initiative conference. FII PRIORITY Miami 2026 is a satellite event of the annual “Davos in the Desert”  gathering held in Riyadh and will take place under the shadow of the current conflict with Iran. As he did last year, U.S. President Donald Trump is expected to appear at the conference, while Donald Trump Jr. is among the scheduled speakers. Participants will include Princess Reema bint Bandar, Saudi Arabia’s ambassador to the U.S., and Yasir Al-Rumayyan, governor of the PIF sovereign wealth fund and chairman of Saudi Aramco. Other speakers include Saudi Finance Minister Mohammed Al-Jadaan, Humain CEO Tareq Amin, Diriyah Co. Group CEO Gerard Inzerillo, U.S. Middle East envoy Steve Witkoff and Meta President and Vice Chairman Dina Powell McCormick.

Mubadala: Abu Dhabi sovereign wealth fund Mubadala will acquire a 30% stake in Hong Kong-based Loscam International, a provider of pallet pooling and returnable packaging. 

Investment Corp. of Dubai: Emirates airline, which is owned by ICD, is operating some flights back to Dubai with extremely light loads as travelers avoid the Gulf, with some services from Prague and Budapest only about 5% to 10% full, Bloomberg reports.

G42: The Abu Dhabi-owned technology company signed a draft agreement with Boston-based Publicis Sapient to explore a joint venture to develop AI agent capabilities in the UAE and countries in Asia, Africa and South America.

🇬🇧 Summer Halt: British Airways has canceled all flights to the UAE, Bahrain and Jordan until at least June, and to Qatar until May.

🏠 Designer Homes: Zoya Developments launched Nuvé by Zoya, a $55 million residential project featuring 232 fully furnished units.

🚧 Construction Funds: Dubai-based construction and engineering company, Drake & Scull International, said 2025 revenues more than doubled to $61 million.

Circuit Chatter

🏖️ Business Down: The Gulf’s tourism sector faces a sharp short-term hit from regional conflict – triggering over 5,000 flight cancellations, airspace closures, and a projected 11%–27% drop in 2026 arrivals, according to Oxford Economics and Tourism Economics.

✈️ Flight Risk: Oman Air will introduce fuel and war risk surcharges across its cargo network f, citing volatile fuel prices and rising insurance costs in high-risk regions.

💉 Healthcare Logistics: Aramex has opened a certified regional healthcare and pharmaceutical hub in the Dubai South Free Zone to expand its capabilities in the growing life sciences supply chain sector.

🫂 Stronger Ground: The UAE will “emerge stronger” from the Iran conflict, based on how its diversified economy and strategic investments have enabled it to weather previous crises, entrepreneur Mishaal Gergawin writes in Semafor. 

UAE President Sheikh Mohammed bin Zayed met with King Abdullah of Jordan in Abu Dhabi on Monday to discuss the conflict with Iran. The meeting was also attended by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court.

Saudi Crown Prince Mohammed bin Salman received a phone call from Egyptian President Abdel Fattah El-Sisi on Monday.

Sheikh Abdullah bin Zayed, UAE Deputy Prime Minister and Minister of Foreign Affairs, held a series of calls with international officials, including Sheikh Mohammed bin Abdulrahman, Prime Minister and Minister of Foreign Affairs of Qatar; ⁠Prince Faisal bin Farhan, Minister of Foreign Affairs of Saudi Arabia; ⁠and Dr. Abdullatif bin Rashid, Minister of Foreign Affairs of Bahrain.

Behnam Gurban-Zada was appointed Executive Director, Islamic Finance and Banking of  Fasset, a banking and investment platform based in Dubai.

Ziad Malak was appointed Head of Investment Banking of SICO Capital, a provider of asset management, brokerage, and investment banking services in Riyadh.

Hisham Ezz El-Arab was appointed CEO of Egypt’s Commercial International Bank with an initial three-year contract. 

🎨 Canvas Boom: Saudi Arabia’s art market is gaining global attention after a painting by artist Safeya Binzagr sold for $2.1 million at a Sotheby’s auction in Riyadh, nearly double its estimate. Initiatives such as Riyadh Art, the Diriyah Contemporary Art Biennale and Desert X in AlUla  are helping expand the cultural sector, which the government aims to grow to about $48 billion by 2030, Arab News reports. Auction houses and collectors say Saudi artists are increasingly entering global art markets, though the industry still lacks mature financial infrastructure such as valuation data, funds and financing mechanisms.

March 23- 27, Houston, Texas. CERAWEEK. The annual event gathers global leaders to discuss energy transition, technology, and policy. Hilton Americas-Houston and George R. Brown Convention Center .

March 25-27: Miami Beach, Fla. FII PRIORITY Miami 2026. Saudi Arabia’s Future Investment Initiative holds annual U.S. conference. Faena Hotel.

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC. 

April 6-13, Dubai. Quantum Innovation Summit. Part of Global Quantum Week, focusing on quantum technology and applications. Grand Hyatt.

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental. 

April 7-9, Dubai. Middle East Energy. Discover what’s new in energy. Dubai World Trade Centre. 

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 11-20, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC.

April 20-22, Riyadh. Future Aviation Forum. Exploring the future of air transport, sustainability, advanced air mobility, and artificial intelligence. King Abdulaziz International Conference Center.

April 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 21-23, Dubai. UITP Summit 2026. A high-level event for the public transport sector looking at the future of urban mobility. Dubai World Trade Centre

April 24-26, 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.

FORMULA STUN

Formula One has canceled the Bahrain Grand Prix and Saudi Arabian Grand Prix scheduled for April because of the Iran conflict. The decision removes two key Middle East races from the early part of the 2026 season. Officials said concern for the safety of teams, drivers and fans made it impossible to proceed. Organizers are now assessing whether the races can be rescheduled later in the year if conditions improve. “Bahrain and Saudi Arabia are incredibly important to the ecosystem of our racing season ​and I look forward to returning to ​both as soon as circumstances allow.” FIA president Mohammed Ben Sulayem said.

WATER SECURITY

Security concerns are rising around desalination plants across the Middle East after an Iranian drone strike damaged a facility in Bahrain, and Iran saying a U.S. attack disrupted water supplies to villages near Iran’s Qeshm Island. Researchers at King Abdullah University of Science and Technology warn that desalination infrastructure – which supplies much of the Gulf’s drinking water – could become increasingly exposed during regional conflicts, Arab News reports. The Middle East and North Africa account for more than 53% of global desalination capacity, according to the World Bank, making the plants essential to daily life in one of the world’s driest regions. The incidents are raising fresh questions about how governments and utilities can protect water infrastructure during wartime

Public Investment Fund: ACWA Power, the renewable energy company owned by the Saudi sovereign wealth fund, raised its stake in the Shuaibah Water and Electricity Co. to 62% after buying a 32% holding held by the PIF’s Badeel water and electricity company, for $225 million.

TAQA: The Abu Dhabi National Energy Co. elected a new board, led by its new Chairman, Jassem Al Zaabi, who is also Chairman of the Abu Dhabi Department of Finance; and the new Vice Chairman, Dr. Sultan Al Jaber, who is the UAE’s Minister of Industry and Advanced Technology, as well as Group CEO of ADNOC.

DP World: The international port operator, majority-owned by the government of Dubai, set its 2026 capital expenditure budget at about $3 billion, focusing on port expansion, logistics infrastructure and digital systems.

Aramco: Saudi Aramco denied reports that it is in talks with Ukrainian companies to buy interceptor drones to defend its oilfields, Reuters reports.

💰Bond Demand: The UAE raised $300 million in its first dirham-denominated treasury bond auction since the start of the Iran conflict, for bonds maturing in Sept 2027 and Jan 2031.

💵Raising Funds: Red Sea International’s board will increase capital by $74.6 million to fund expansion, boost working capital, strengthen finances, and support future projects, with Alinma Capital as financial advisor.

🏭Industrial Facility: Construction of a $373 million dry gas-based bio-protein plant in Jubail Industrial City II by Saudi Industrial Investment Group will start in the second half of 2026.

🚀Shaken Haven: Dubai’s reputation as a safe refuge in the Middle East to do business and have fun has suffered a blow from the missile barrages coming from Iran, The Atlantic writes. “Iran does not like Dubai, because Dubai shows that doing the opposite of what Iran does yields good results,” the magazine says.

🖇️ Metal Halt: Aluminium Bahrain has begun a phased shutdown of three production linesto conserve raw materials and maintain operations amid war-related shipping disruptions.

🏨Hospitality First: Dubai hotels are being urged to keep prices stable despite a sharp drop in occupancy out of concern for the city’s premium image, Arabian Gulf Business Insights reports. 

🔥Punching Bags: The key UAE port of Fujairah, the country’s only export route outside the Strait of Hormuz, was hit by a drone strike, halting oil loadings as damage was assessed following a previous weekend attack, Bloomberg reports.

UAE President Sheikh Mohamed bin Zayed held a phone call on Sunday with Saudi Crown Prince Mohammed bin Salman, during which they discussed the war with Iran. Sheikh Mohamed also spoke with Spain’s King Felipe VI.

Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, met with Ethiopian Prime Minister Abiy Ahmed Ali on Saturday in Dubai.

Egypt’s President Abdel Fattah El-Sisi said his country has lost about $10 billion from global and regional crises affecting the Suez Canal since 2020.

Ukraine President Volodymyr Zelenskiy sent three teams to the Middle East to demonstrate Gulf states should buy Ukraine-made drone defenses.

Mostafa Madbouly, Egypt’s Prime Minister, said on Sunday that the government is implementing “flexible scenarios” to ensure the sustainability of supplies.”

Adrian Hamilton-Manns, CEO of Oman’s SalamAir, said that its operations within the region have been affected, while other networks, including those of the Indian subcontinent and Africa, continue to be operated normally.

Ahmad Bin Shafar, CEO of Emirates Central Cooling Systems, said the company’s future growth remains “materially de-risked” through its total contracted capacity.

Ashraf Bahaa, Chairman of Egypt’s South Valley Egyptian Petroleum, said the company plans to drill five exploration wells at an estimated value of $33 million.

🏺 Recovered Relics: Ancient artifacts looted from Iraq’s Duhok region after the 1991 Gulf War were traced to a private collection in Britain and returned to Baghdad following a joint investigation. Experts from the British Museum and officials from the Iraqi State Board of Antiquities and Heritage helped identify the objects and confirm they had been taken illegally during the conflict, The National reports. British authorities then arranged for the artifacts to be repatriated to Iraq as part of ongoing efforts to recover cultural treasures removed during decades of war and smuggling.

March 23- 27, Houston, Texas. CERAWEEK. The annual event gathers global leaders to discuss energy transition, technology, and policy. Hilton Americas-Houston and George R. Brown Convention Center .

March 25-27: Miami Beach, Fla. FII PRIORITY Miami 2026. Saudi Arabia’s Future Investment Initiative holds annual U.S. conference. Faena Hotel.

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC. 

April 6-13, Dubai. Quantum Innovation Summit. Part of Global Quantum Week, focusing on quantum technology and applications. Grand Hyatt.

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental. 

April 7-9, Dubai. Middle East Energy. Discover what’s new in energy. Dubai World Trade Centre. 

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 11-20, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC.

April 20-22, Riyadh. Future Aviation Forum. Exploring the future of air transport, sustainability, advanced air mobility, and artificial intelligence. King Abdulaziz International Conference Center.

April 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 21-23, Dubai. UITP Summit 2026. A high-level event for the public transport sector looking at the future of urban mobility. Dubai World Trade Centre

April 24-26, 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.

HELIUM SQUEEZE

Helium prices are surging after the Iran conflict disrupted Qatar’s natural-gas processing, exposing the fragility of a market that supplies industries from semiconductor manufacturing to medical imaging. Qatar produces roughly one-third of the world’s helium, and the shutdown of some gas facilities and shipping routes has sharply reduced supply. Spot helium prices have roughly doubled as buyers scramble to secure shipments, Reuters reports. The disruption highlights how the war’s strikes on Gulf energy infrastructure and transport routes are rippling into global technology and industrial supply chains. Qatari Energy Minister Saad al-Kaabi told the Financial Times last week that it would take “weeks to months” for deliveries to return ​to ​normal.

RIYADH SIDELINED

The Fanatics Flag Football Classic, a warm-up for the sport’s debut at the U.S.-hosted 2028 Summer Olympics, has been moved from Riyadh to BMO Stadium in Los Angeles because of security concerns tied to the Iran conflict. The game had been scheduled for March 21 at Riyadh’s Kingdom Arena as part of Saudi Arabia’s effort to host high-profile international sports competitions. Sponsored by sports merchandise company Fanatics, the game will feature Tom Brady and other NFL veterans and be broadcast by Fox Sports. It will include three 12-player teams, with Team USA’s reigning flag football world championship ​team facing two teams composed of current ​and former NFL stars, as well as athletes outside of football. 

Saudi Aramco: The world’s biggest oil company is in talks with Ukrainian firms SkyFall and Wild Hornets to buy interceptor drones to defend its oil fields from potential Iranian drone attacks, The Wall Street Journal reports.

Abu Dhabi Investment Authority: A unit of ADIA made an investment in Hong Kong’s Dignari Capital Partners, committing capital to its Asia-Pacific developed markets private credit fund focused on real estate-linked financing.

Qatar Investment Authority and ADIA: SoftBank-backed payments firm PayPay jumped nearly 20% on Thursday after its $880 million IPO, with ADIA and QIA among the company’s backers.

🏌🏽Golf Clubs: Dubai-based AKCEL Holding signed a $272 million deal with XRange Golf Entertainment to develop a network of technology-driven golf entertainment venues across the UAE.

🍕 Pizza Bid: Qatar-based Irth Capital offered about $47 a share to acquire Papa John’s in a deal that would take the U.S. pizza chain private at a value of $1.5 billion, Reuters reports.

🛢️ Libya Returns: TotalEnergies has restarted production at Libya’s Mabruk oil field for the first time in more than a decade after completing redevelopment work on the long-idle facility.

💶 Gulf Finance: A unit of Saudi Arabia’s Islamic Development Bank agreed to arrange up to $900 million in financing for Mauritania Saudi Mining and Steel Co.

💻 Not Bad: Wonderful, an Israeli startup that helps businesses set up AI agent platforms, raised $150 million in a Series B funding round, led by Insight Partners.

🏭 Aluminum Cutback: Norwegian producer Norsk Hydro will reduce output at its Qatalum smelter in Qatar rather than fully shutting operations as supply disruptions ripple through the Gulf metals industry, The Wall Street Journal reports.

📦 Trade Corridors: Saudi Arabia is opening logistics corridors to receive containers and goods from neighboring Gulf countries as authorities try to keep regional trade flowing despite shipping disruptions.

🏗️ Project Pause: UAE developers may scale back new real-estate projects amid regional uncertainty, though Fitch Ratings says the sector faces no immediate financial stability risks.

💰 Fighting Back: Kuwait urged the public to report anyone involved in unlicensed financial activities as part of a campaign to combat money laundering amid  the Iran conflict.

🗓️ Changing Calendar: AIM Congress, the flagship investment conference of the AIM Global Foundation, is the latest major business event pushing its dates from April to later this year. Crypto event Token2049  has been postponed until next year.

UAE Sheikh Mohamed bin Zayed received a phone call on Thursday from Syrian President Ahmed Al-Sharaa to discuss the impact of the Iran conflict..

Sheikh Abdullah bin Zayed, the UAE Minister of Foreign Affairs, met with Dr. Constantinos Kombos, the Minister of Foreign Affairs of Cyprus, on Thursday in Abu Dhabi.

Sheikh Mohammed bin Abdulrahman, Qatar’s Prime Minister and Minister of Foreign Affairs, received phone calls on Thursday from Canadian Foreign Minister Anita Anand and Spanish Foreign MinisterJose Manuel Alvarez.

Mishal Kanoo, Chairman of Dubai-headquartered Kanoo Group, said the UAE’s real estate boom is likely to slow down because of the war. “Honestly, the market had seriously overheated,” he told Arabian Gulf Business Insight. “If prices come down to something more reasonable, that’s not a bad thing.” 

Antoine Crombez was appointed Chairman of Airport International Group, the Jordanian operator of Queen Alia International Airport.

Eng. Ahmed Al Shamsi was appointed Group CEO of Trojan Construction; one of the largest construction groups in the Gulf region.

🖼️ Art Anxiety: French officials are raising concerns about the safety of artworks loaned to the Louvre Abu Dhabi amid the missile barrage from Iran, including masterpieces by artists such as Rembrandt and Leonardo da Vinci. The museum’s collection includes works such as La Belle Ferronnière, attributed to Leonardo, and other major paintings loaned from French institutions under the 30-year partnership that created the Abu Dhabi branch of the Louvre, Agence France-Presse reports.

March 25-27: Miami Beach, Fla. FII PRIORITY Miami 2026. Saudi Arabia’s Future Investment Initiative holds annual U.S. conference. Faena Hotel.

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC. 

April 6-13, Dubai. Quantum Innovation Summit. Part of Global Quantum Week, focusing on quantum technology and applications. Grand Hyatt.

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental. 

April 7-9, Dubai. Middle East Energy. Discover what’s new in energy. Dubai World Trade Centre. 

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 11-20, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC.

April 20-22, Riyadh. Future Aviation Forum. Exploring the future of air transport, sustainability, advanced air mobility, and artificial intelligence. King Abdulaziz International Conference Center.

April 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 21-23, Dubai. UITP Summit 2026. A high-level event for the public transport sector looking at the future of urban mobility. Dubai World Trade Centre

April 24-26, 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.

STAY HOME

Citigroup and Goldman Sachs told employees to leave their offices in Dubai following reports that Iran is targeting financial firms. The banks instructed staff to work remotely and avoid their buildings in the Dubai International Financial Centre after intelligence warnings that Western financial institutions could be potential targets, Bloomberg reports. Standard Chartered also instructed employees to exit its offices in the district, according to people familiar with the matter. The moves highlight how global banks are tightening security and activating contingency plans across the Gulf as threats linked to the Iran conflict begin to affect major business hubs.

INSECURITY BENEFITS

The nuclear industry could benefit from the current bout of global energy insecurity as attacks on three more cargo ships in the Gulf push oil prices toward $100. Boris Schucht, CEO of uranium enrichment company Urenco, told the Financial Times that a “nuclear renaissance” is underway, with the company holding a record $21.3 billion order book for uranium and fuel products. “The supply crisis in the Middle East will refocus policymakers and industry on energy security and the need to have some form of baseload power in countries that is independent from supply threats,” Schucht said. Analysts say the crisis is prompting governments from Europe to Japan to accelerate nuclear plans, while European Commission President Ursula von der Leyen called the continent’s earlier retreat from nuclear power a “strategic mistake.”

Public Investment Fund: The Saudi sovereign wealth fund is backing a push by the kingdom to host a major ATP Masters 1000 tournament, prompting men’s tennis to consider buying back smaller events and reshaping its global calendar, The Athletic reports.

Humain: The new Saudi AI company, which is majority-owned by the PIF, appointed Abeer Al Qadi as Chief Marketing Officer.

ADNOC Gas: The UAE-owned natural gas company selected Italy’s Tecnimont as the contractor to perform engineering, procurement and construction work for its $4 billion Ruwais NGL Train 5 project in Abu Dhabi, MEED reports.

Mubadala: Austria’s Laura Privatstiftung foundation, co-founded by investor Rene Benko, filed for insolvency after a court ruled it owed $1.2 billion to the UAE sovereign wealth fund.

👌 Concrete Acquisition: German building materials company, Knauf International received approval to acquire a 63% stake in Saudi Arabia’s United Mining Industries for $135 million, with plans to buy the remaining shares later.

🏦 Back in Business: The Central Bank of Syria’s account with the U.S. Federal Reserve Bank of New York has been reactivated for the first time since 2011, Ambassador Tom Barrack, the U.S. Special Envoy to Syria, said in an X post.

🏗️ Property Fund: A subsidiary of Egypt’s Talaat Moustafa Group and CI Capital launched the $154 million Awaed Real Estate Investment Fund to finance income-generating commercial real estate.

🔗 Crypto Probe: The U.S. Justice Department is investigating whether Iran used Binance’s cryptocurrency exchange to evade economic sanctions, The Wall Street Journal reports.

✈️ Dutch Departure: KLM canceled all flights to Dubai through March 28 as the Iran conflict disrupts regional airspace, joining a growing list of international carriers scaling back Gulf operations.

💶 Profiteering Crackdown: The Abu Dhabi Registration Authority issued 38 fines to businesses and 416 warning a for unjustified wartime price increases.

🏨 Short Break: Construction at the $5 billion Wynn Al Marjan Island Resort  and casiono in Ras Al Khaimah has resumed after a brief war-related pause, with the project still targeted to open next year.

Ð Simple Transactions: Crypto exchange Bybit announced that UAE users can now buy Bitcoin, Ethereum and other digital currencies directly with dirhams.

UAE President Sheikh Mohamed bin Zayed held a phone call with Russian President Vladimir Putin on Wednesday in which they called for an immediate halt to escalation of the war.

U.S. President Donald Trump told World Cup organizers FIFA on Wednesday that Iran’s team is welcome to compete at this summer’s tournament, which will take place in the U.S.,Mexico and Canada.

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, held a phone call about the Iran conflict with Kaja Kallas, the EU High Representative for Foreign Affairs and Security Policy.

Japanese Prime Minister Sanae Takaichi said her country could help clear mines in the Strait of Hormuz after the war ends. 

Naguib Sawiris, the Egyptian billionaire who resides in Dubai, posted a message  from an Egyptian friend on X, who returned to the UAE during the war out of a “sense of loyalty to a place that has been good to me and my family.”

Shamis Ali Khalfan Al Dhaheri, Chairman of the Department of Community Development – Abu Dhabi, visited Athar+, a specialized hub dedicated to nurturing social entrepreneurship.

🎼 Presidential Lyrics: The UAE National Orchestra has launched a new orchestral work titled “Men, Truly Men,” with lyrics written by UAE President Sheikh Mohamed bin Zayed honoring the country’s armed forces. The piece, composed by Mohammed Al Ahmad, has been arranged in a new orchestral distribution by Ahmed Al Mouji with an ensemble of 70 musicians and 30 vocalists, the Khaleej Times reports.

March 25-27: Miami Beach, Fla. FII PRIORITY Miami 2026. Saudi Arabia’s Future Investment Initiative holds annual U.S. conference. Faena Hotel.

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC. 

April 6-13, Dubai. Quantum Innovation Summit. Part of Global Quantum Week, focusing on quantum technology and applications. Grand Hyatt.

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental. 

April 7-9, Dubai. Middle East Energy. Discover what’s new in energy. Dubai World Trade Centre. 

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 11-20, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC.

April 20-22, Riyadh. Future Aviation Forum. Exploring the future of air transport, sustainability, advanced air mobility, and artificial intelligence. King Abdulaziz International Conference Center.

April 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 21-23, Dubai. UITP Summit 2026. A high-level event for the public transport sector looking at the future of urban mobility. Dubai World Trade Centre

April 24-26, 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.

April 29-30, Dubai. TOKEN2049 Dubai. A global gathering for the crypto ecosystem. Madinat Jumeirah.

FERTILIZER CRISIS

It’s not just oil. War with Iran is also making a range of chemicals critical for food production more expensive, including fertilizer components like urea and ammonia, Bloomberg reports.The Middle East is the source of some 45% of the global urea supplies, which cannot be stored for long periods. That means logistical disruptions such as the shutdown of the Strait of Hormuz can quickly tighten the market and send prices soaring. Western sanctions have curtailed imports of Russian fertilizers, while China has imposed export restrictions to protect domestic demand and support its farming sector, the news agency said. 

METROPOLITAN OASIS

Saudi Arabia’s ambition to build the world’s biggest urban park has received a $3.8 billion vote of confidence from foreign investors. The King Salman Park Foundation said on Tuesday that the new funds raise the total investment in the Riyadh mega-project to more than $5.3 billion. The development, launched in 2019 under Saudi Crown Prince Mohammed bin Salman’s Vision 2030 economic overhaul plan, calls for construction of offices, homes, hotels, schools and shopping centers within the 17 square-kilometer (6.6 square-mile) metropolitan oasis, along with the planting of more than 1 million trees. “Securing investment of this scale, supported by international capital and expertise, is an important milestone,” the foundation’s CEO George Tanasijevich said. 

Abu Dhabi Investment Authority:An ADIA unit is teaming up with Paris-based Ardian to launch a real estate secondaries platform that it says will focus on opportunities in the current market environment, characterized by a reset in valuations and increased demand for liquidity, Bloomberg reports.

ADNOC: The UAE state-owned energy firm shut down its Ruwais refinery in response to a fire at the facility following drone strikes. The facility was shut as a precautionary measure and all other operations at the complex were continuing normally, Reuters reports.

Oman Investment Authority: The sovereign wealth fund’s OQ Exploration & Production plans to spend about $800-900 million in 2026, $200 million less than last year, while buying new assets, CEO Mahmoud Al Hashmi said on Tuesday.

💵 Digital Uzbekistan: An Omani-led consortium is investing $130 million in Uzbekistan’s digital services ecosystem Uzum, with Oman Investment Bank serving as adviser.

🧑🏽‍🎨 Egyptian E-Commerce: U.S.-based adtech firm Converted acquired Mitcha, an Egyptian e-commerce platform.

 🎷 Backup Beat: Jazz, an Israeli startup that uses artificial intelligence to prevent data loss, raised $61 million in two funding rounds led by Glilot Capital Partners and Team8.

💰 Financial Targets: Banks and financial Institutions across the Middle East have become military targets for Iran, AP reports.

⛽ Gas Halt: Qatar’s Ras Laffan LNG plant, which supplies nearly 20% of global LNG, has halted exports for five days, the longest pause since 2008, after an Iranian drone attack.

🚢 No Can Do: The U.S. Navy has declined the shipping industry’s near-daily requests for military escorts through the Strait of Hormuz since the war with Iran began, citing the high risk of attacks, Reuters reports. 

🧳 Staying Home: The Middle East tourism sector is losing about $600 million a day due to flight cancellations, airspace closures and traveler concerns following regional strikes, The Financial Times reports.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, met with Zhai Jun, Special Envoy of the Chinese Government on the Middle East Issue.

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, held a phone call with U.S. Secretary of State Marco Rubio on Tuesday. Healso met with German Foreign Minister Johann Wadephul on Tuesday in Riyadh

Sheikh Hamdan bin Mohammed, the UAE Defense Minister and Crown Prince of Dubai, met with 300 heads of business in Dubai on Tuesday and declared that the UAE will “emerge stronger” from the present crisis.

Sameh El-Hefny, Egypt’s Minister of Civil Aviation, met on Tuesday with President Abdel Fattah Al-Sisi and Prime Minister Mostafa Madbouly to review plans for upgrading the country’s airports.

Ahmad Al-Hassan was appointed CEO and Managing Director for the GCC, overseeing ports and terminals, economic zones, digital technology and logistics.

Phil Lynagh was appointed CEO of Capital Group, a Saudi consulting firm for entertainment, sponsorships and communications.

🏇 Galloping Ahead: Organizers of the $30 million Dubai World Cup say the show will go on. Despite the shadow of war hanging over the region, preparations are continuing at Meydan Racecourse for the March 28 event – billed as the world’s richest day in horse racing. While leading contenders such as Forever Young and Banishing are present in Dubai, several stables in Europe and Japan are balking at the risk of shipping their horses to a warzone.

March 25-27: Miami Beach, Fla. FII PRIORITY Miami 2026. Saudi Arabia’s Future Investment Initiative holds annual U.S. conference. Faena Hotel.

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC. 

April 6-13, Dubai. Quantum Innovation Summit. Part of Global Quantum Week, focusing on quantum technology and applications. Grand Hyatt.

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental. 

April 7-9, Dubai. Middle East Energy. Discover what’s new in energy. Dubai World Trade Centre. 

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 11-20, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC.

April 20-22, Riyadh. Future Aviation Forum. Exploring the future of air transport, sustainability, advanced air mobility, and artificial intelligence. King Abdulaziz International Conference Center.

April 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 21-23, Dubai. UITP Summit 2026. A high-level event for the public transport sector looking at the future of urban mobility. Dubai World Trade Centre

April 24-26, 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.

April 29-30, Dubai. TOKEN2049 Dubai. A global gathering for the crypto ecosystem. Madinat Jumeirah.

DUBAI BUFFER

Dubai has managed to keep supermarket shelves stocked despite the Iran conflict by relying on large inventories, diversified suppliers and rapid logistics adjustments. Supermarket chains such as Carrefour, operated in the UAE by Majid Al Futtaim, increased orders and drew on existing warehouse reserves while sourcing additional products from Europe and India to offset delays from usual Gulf routes, Bloomberg reports. Iran, the top supplier of fresh fruit and vegetables to the UAE, has banned exports of all food and agricultural products until further notice. UAE Economy Minister Abdulla Bin Touq Al Marri said at a briefing in Abu Dhabi last week the country has strategic reserves of essential items to cover four to six months and keep prices stable.

GULF BOTTLENECK

About 1,000 vessels carrying roughly 20,000 crew members are unable to pass through the Strait of Hormuz amid fears of Iranian attacks, cutting traffic by nearly 90%. The International Maritime Organization says many of the ships are idling near the narrow waterway, while 2,474 vessels, including 178 oil tankers, have remained in the Gulf waters since March 5. IMO Secretary-General Arsenio Dominguez expressed “grave concern” after recent attacks killed at least seven seafarers and called on operators to exercise “maximum caution.” Roughly 20% of the world’s oil is transported through the Strait of Hormuz.

Public Investment Fund: The Saudi sovereign wealth fund’s Roshn Group signed a $177 million deal with Miskan Real Estate to develop a property in Riyadh.

International Holding Co.: Judan Financial, a subsidiary of Abu Dhabi’s IHC, acquired a 50.1% stake in Alpha Wave Global, a U.S.-based investment management firm.

Mubadala: Mubadala Bio announced the launch of two cardiovascular medications, Ticagrelor and Tirofiban, produced through its UAE subsidiaries.

📈 Coming Home: Shareholders of Dubai Residential REIT approved a $150 million dividend for the second half of 2025, which followed its May 2025 listing on the Dubai Financial Market.

🏨 Touch Down: Dubai-based Azizi Developments has broken ground on a 5-star hotel in its Azizi Riviera community, kicking off a $20.4 billion investment plan that includes 10 hotels.

🧠 AI Jackpot: Vast Data, an Israeli startup focused on AI infrastructure that includes Nvidia, Goldman Sachs and General Atlantic among its investors, raised $1 billion in a private equity funding round that valued the company at $30 billion, Calcalist reports.

✈️ Airport Builders: Companies from China, the U.S., Turkey, France, and Singapore are among 89 firms that expressed interest in developing Saudi Arabia’s Prince Naif bin Abdulaziz International Airport as part of an initial bidding process.

🏡 Cooling Down: Moody’s Ratings expects Dubai’s real estate sales to decline slightly and price increases to slow, while noting that the market’s overall fundamentals remain stable.

💰 Deficit Dreams: The surge in oil prices amid the Iran war could help narrow Saudi Arabia’s budget deficit if exports by Saudi Aramco continue, Tim Callen, a former IMF mission chief to Saudi Arabia, tells Arabian Gulf Business Insight.

UAE President Sheikh Mohamed bin Zayed and Vice President Sheikh Mohammed bin Rashid, Ruler of Dubai, met for an iftar meal with other members of the government and issued a statement pledging their “determination and capability” to overcome the challenges of being attacked by Iran.

Emir of Qatar Sheikh ​Tamim bin Hamad al-Thani spoke by phone with Canadian Prime Minister Mark Carney on Monday to discuss efforts to keep the Iran conflict from widening.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, visited Cyprus on Monday, where he met with President Nikos Christodoulides and West German Foreign Minister Johann Wadephul.

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, held a phone call with  New Zealand’s Foreign Minister Winston Peters.

Jasem Al-Budaiwi, the GCC Secretary-General, met with China’s special envoy for the Middle East, Zhai Jun, at the General Secretariat headquarters in Riyadh on Sunday.

Rayan Qutub, Head of the Logistics Council at the Jeddah Chamber of Commerce, said in an interview with Al-Eqtisadiah that disruptions in the Strait of Hormuz could push global shipping lines to reroute operations to Saudi Arabia’s Red Sea ports, potentially adding about 250,000 containers and 70,000 vehicles per month.

Omar Alsebeyi, acting CEO at Etihad Rail Freight, argues in an opinion piece that the future of UAE logistics will depend on transporting products by train.

🗿 Sculpture City: Riyadh will install 25 large-scale sculptures across public spaces in the Saudi capital that were made during  the city’s seventh Tuwaiq Sculpture Symposium. The two-month event that wrapped up last week turned Riyadh’s Tahlia Street into an open-air studio where Saudi and international artists carved works from granite, reclaimed metal and other materials, Arab News reports. The sculptures will join Riyadh’s permanent public art collection as the city expands efforts to incorporate contemporary art into its urban spaces.

March 25-27: Miami Beach, Fla. FII PRIORITY Miami 2026. Saudi Arabia’s Future Investment Initiative holds annual U.S. conference. Faena Hotel.

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC. 

April 6-13, Dubai. Quantum Innovation Summit. Part of Global Quantum Week, focusing on quantum technology and applications. Grand Hyatt.

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental. 

April 7-9, Dubai. Middle East Energy. Discover what’s new in energy. Dubai World Trade Centre. 

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 11-20, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC.

April 20-22, Riyadh. Future Aviation Forum. Exploring the future of air transport, sustainability, advanced air mobility, and artificial intelligence. King Abdulaziz International Conference Center.

April 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 21-23, Dubai. UITP Summit 2026. A high-level event for the public transport sector looking at the future of urban mobility. Dubai World Trade Centre

April 24-26, 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.

April 29-30, Dubai. TOKEN2049 Dubai. A global gathering for the crypto ecosystem. Madinat Jumeirah.

AUTO ACCESS

The trade pact negotiated last week by the UAE and Japan should strengthen Japanese auto exports by gradually removing tariffs. The agreement calls for the UAE to eliminate duties on many finished cars from Japan within seven years, easing costs for manufacturers such as Toyota, Nissan and Honda, Nippon reports. Japanese officials say the deal will help their companies compete more effectively with South Korean automakers, whose country already has a similar trade agreement with the UAE spaced over 10 years. The UAE has become Japan’s biggest trading partner in the Middle East and Africa, making the Gulf market increasingly important for Japanese car exports.

HORSE HAVEN

Qatar transported 75 competition horses and their grooms for refuge in Belgium after cancelation of the Longines Global Champions Tour of Doha due to the Iran conflict. Another 63 horses are scheduled to make the crossing from Qatar to the “Horse Inn” in Liege, Belgium, this week, Equnews reports. The Belgian facility is a hub for moving high-value sport horses for the Olympics and major tournaments, often in response to geopolitical crises. Meanwhile, leading European trainers and owners say they will delay decisions on sending horses to the $30 million Dubai World Cup meeting, watching security developments in the Middle East before committing runners to the March 28 event, TDN reports.

Saudi Aramco: The world’s largest oil company is offering ​some 4 ‌ million barrels of Saudi crude in ​rare tenders ​as the U.S.-Iran conflict ⁠disrupted exports from ​the Middle East, Reuters reports. 

ADNOC: The Abu Dhabi energy giant said it is adjusting offshore production while maintaining normal onshore operations and activating contingency protocols to ensure global delivery continuity.

Bapco Energies: Bahrain’s main energy company made a force majeure declaration, suspending operations that have been affected by the Iran conflict.

💰 Raising Capital: Dubai-based TruDoc Healthcare said it has raised $15 million in a Pre-Series B round backed by the Al Nahyan and Al-Ketbi families, and Pulsar Capital, to accelerate its goal of becoming the GCC’s largest virtual-first healthcare provider.

📊 Slowing Down: Startup funding in the MENA region fell to $327 million across 62 deals in February, down by 38% year-on-year.

💶 Dividend Due: Saudi investment company Savola Group proposed a dividend of $136 million for 2025 after reporting a 13% year-on-year increase in revenue.

✈️ Jet-Set Bet: Muscat Airport in Oman has asked private jet operators to avoid using the airport so it can prioritize government and commercial flights, as airspace closures disrupt regional travel and the airport becomes a key hub for European repatriation flights, The Financial Times reports.

🏗️ Risky Business: UAE homebuilders are likely to conserve cash after the Middle East geopolitical shock, with falling property viewings and heavy reliance on overseas demand creating risk despite near-term stability, Fitch Ratings said. 

⚡ Power Link: Tunisia’s share of the ELMED electricity interconnection project with Italy is estimated at $676 million and is expected to generate $83 million to $211 million annually, shared equally between all parties, according to Wael Chouchane of Tunisia’s Ministry of Industry.

UAE President Sheikh Mohamed bin Zayed held a phone call with U.S. President Donald Trump on Sunday to discuss the conflict with Iran and other regional issues. Sheikh Mohamed also held a call with Egypt’s President Abdel Fattah El-Sisi on Sunday.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, received a phone call from Sheikh Ahmad Al-Abdullah, Kuwait’s Prime Minister on Sunday.

Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai, met with Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, on Sunday. Also present were Sheikh Maktoum bin Mohammed, First Deputy Ruler of Dubai, UAE Minister of Finance, and Sheikh Ahmed bin Saeed Al Maktoum, CEO of Emirates Airline and Chairman of Dubai Airports.

Saad al-Kaabi, Qatar’s Energy Minister and CEO of QatarEnergy, told The Financial ‌Times that all Gulf energy producers would shut down exports within weeks if the Iran conflict continues ​and drives oil ⁠to $150 a barrel.

Khaled Mohamed Balama, Governor of the UAE Central Bank, said in a statement that the UAE’s banking systems had “very strong” levels of capital adequacy and liquidity.

Zubin Karkaria, CEO of VFS, the world’s largest visa processing company, told The Financial Times he is confident global migration will remain resilient despite tensions from the Iran conflict.

📚 Devouring Fiction: The Big Bad Wolf book fair has extended its Dubai run through March 15, offering more than 1 million English-language titles at discounts of up to 95%. Founded in Kuala Lumpur in 2009, Big Bad Wolf has grown into a touring book sale held in cities across Asia, Africa and the Middle East, The National reports. Outside the UAE, the Big Bad Wolf sale has also been staged in Saudi Arabia.

March 25-27: Miami Beach, Fla. FII PRIORITY Miami 2026. Saudi Arabia’s Future Investment Initiative holds annual U.S. conference. Faena Hotel.

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC. 

April 6-13, Dubai. Quantum Innovation Summit. Part of Global Quantum Week, focusing on quantum technology and applications. Grand Hyatt.

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental. 

April 7-9, Dubai. Middle East Energy. Discover what’s new in energy. Dubai World Trade Centre. 

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 11-20, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC.

April 20-22, Riyadh. Future Aviation Forum. Exploring the future of air transport, sustainability, advanced air mobility, and artificial intelligence. King Abdulaziz International Conference Center.

April 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 21-23, Dubai. UITP Summit 2026. A high-level event for the public transport sector looking at the future of urban mobility. Dubai World Trade Centre

April 24-26, 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.

April 29-30, Dubai. TOKEN2049 Dubai. A global gathering for the crypto ecosystem. Madinat Jumeirah.

ESCAPE ROUTE

Muscat International Airport has turned into a key evacuation hub from the Iran conflict for wealthy Gulf travelers, with a surge in business-jet departures. Since Feb. 28, more than 90 private jets have departed from the normally quiet Omani airport, Bloomberg reports. Private jet broker LunaJets received over 800 evacuation requests in 24 hours amid regional panic, arranging two large group flights from Muscat. Meanwhile, Etihad Airways, Emirates, flydubai and Air Arabia have begun restoring parts of their networks with reduced schedules as regional airspace restrictions ease, warning passengers that some journeys may take longer due to rerouted flight paths.

STALLED CARS

Neolix, a Chinese autonomous delivery vehicle maker, has suspended daily operations of its driverless vehicles in Abu Dhabi. The move comes amid rising regional tensions after Iran launched missile attacks on Israel during the sixth day of the U.S.-Israel war with Iran, Chinese media outlet Yicai reported on Thursday. The suspension complies with UAE government requirements and aims to ensure the safety of personnel and assets. Other Chinese autonomous vehicle firms are also adjusting operations, with WeRide pausing its robotaxi fleet in Dubai and Pony.ai briefly halting on-road testing in Doha and Dubai before resuming in Doha on Monday.

International Holding Co.: Abu Dhabi-based investment firm 2PointZero Group, an IHC company, has acquired a 60% stake in Italy’s ISEM Packaging Group for $192 million.

Qatar Investment Authority: The QIA joined a $500 million financing round for California-based commercial space station developer Vast.

EDGE Group: The Abu Dhabi-owned defense conglomerate signed a strategic agreement to help strengthen Ecuador’s national border protection systems.

Public Investment Fund: Saudi Arabian Mining Company, known as Maaden, said its 2025 net profit more than doubled, and the revenue rose by 19%.

💵 Strategic Plan: Lesha Bank, formerly known as Qatar First Bank, said on Friday it will acquire Guernsey-based aircraft lessor Amedeo Air Four Plus for $1 billion.

🏠 Building Block: Saudi Arabia’s Dar Al Majed Real Estate Company awarded a $20.5 million turnkey contract to Emarna Contracting Co. to build eight residential buildings.

💰 Staking Fund: Bahrain-based Investcorp closed a fund that buys minority stakes in private investment firms, securing more than $1.25 billion in commitments.

🚁 Drone Defense: The U.S. and Qatar are in talks with Ukraine about acquiring interceptor drones designed to shoot down Iranian-made Shahed UAVs, with Ukrainian specialists traveling to Doha and Abu Dhabi to share battlefield experience countering the systems, Reuters reports.

🤝 Trade Pact: The UAE and Japan finalized an economic partnership to strengthen bilateral relations and boost trade, investment and cooperation in sectors like technology, logistics, cybersecurity, healthcare, and education.

🗞️ Headline News: German media group Axel Springer has bought London’s Telegraph Media Group in a 575 million-pound ($765 million) deal, scuppering a proposed acquisition by the Daily Mail.

🇦🇪 Solid Ground: Regional business councils say the inflow of companies and wealthy individuals into the UAE is unlikely to be affected in the long term, despite possible short-term disruptions from the war with Iran, Arabian Gulf Business Insights reports. 

👑 Gold Lining: Gold is being sold at a steep discount in Dubai as traders struggle to move bullion out of the precious metals trading hub, Bloomberg reports.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Minister of Defense and Deputy Prime Minister, held a phone call on Thursday with Prince Khalid bin Salman, Saudi Arabia’s Minister of Defense.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, held a phone call with Sheikh Sabah Khaled AlHamad, Crown Prince of Kuwait.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, met with Italian Prime Minister Giorgia Meloni on Thursday. He also met with Antonio Tajani, Italy’s Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation.

Egypt’s President Abdel Fattah El Sisi said on Thursday that Egypt is continuing to try to launch a mediation effort that’s both sincere and honest to stop the Iran war.

Kristalina Georgieva, Managing Director of the International Monetary Fund, warned on Thursday that the Iran conflict will have effects on energy prices, market sentiment, growth and inflation if it is prolonged.

George Prokopiou: The Greek billionaire’s Dynacom is making a fortune as one of the few legal tanker operators willing to sail to and from the Gulf, the Financial Times reports.

Hisham Okasha, CEO of Banque Misr, was named Chairman of Egyptian investment bank CI Capital, succeeding Ahmed Issa, Egypt’s former minister of tourism.

Dr. Maryam Ali Ficociello was appointed as CEO of the Saudi Red Sea Authority. 

Khalaf Al Habtoor, the Emirati billionaire and founding Chairman of the Al Habtoor Group, criticized the U.S. for drawing the Gulf region into conflict with Iran.

📚 Literary Gathering: Dubai’s weeklong “Ramadan Nights by the Creek” program wraps up on Saturday outside the Mohammed Bin Rashid Library, featuring poetry readings, live oud performances, and craft workshops. The festival also features a Ramadan market along the waterfront and a dedicated Food Street with cooking demonstrations of traditional Emirati cuisine.

March 25-27: Miami Beach, Fla. FII PRIORITY Miami 2026. Saudi Arabia’s Future Investment Initiative holds annual U.S. conference. Faena Hotel.

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC. 

April 6-13, Dubai. Quantum Innovation Summit. Part of Global Quantum Week, focusing on quantum technology and applications. Grand Hyatt.

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental. 

April 7-9, Dubai. Middle East Energy. Discover what’s new in energy. Dubai World Trade Centre. 

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 11-20, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC.

April 20-22, Riyadh. Future Aviation Forum. Exploring the future of air transport, sustainability, advanced air mobility, and artificial intelligence. King Abdulaziz International Conference Center.

April 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 21-23, Dubai. UITP Summit 2026. A high-level event for the public transport sector looking at the future of urban mobility. Dubai World Trade Centre

April 24-26, 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.

April 29-30, Dubai. TOKEN2049 Dubai. A global gathering for the crypto ecosystem. Madinat Jumeirah.