ARMS CALL

The U.S. approved the sale of $25.8 billion worth of air defense interceptors and other weapons to its Middle East partners, three times the amount disclosed last week. Secretary of State Marco Rubio gave emergency approval for the sales to the UAE, Qatar, Bahrain, Kuwait and Israel on May 1, Bloomberg reports. Last week, the U.S. administration said it had approved expedited sales of $8.6 billion in weapons. Despite the move to speed up delivery of munitions amid the conflict with Iran, there are doubts about how quickly the U.S. will be able to produce and deliver large orders, given its depleted stockpiles and the slow pace of manufacturing. 

CAPITAL MOVE

Singapore’s Hillhouse Investment Management, U.S.-based Bain Capital and London’s Rokos Capital Management are among the global financial firms that have established or expanded in Abu Dhabi Global Market since the beginning of the Iran war. The new arrivals are a sign that the country remains attractive to foreign hedge funds and asset managers despite the regional conflict, Zawya reports. Capital Group, which manages $3.3 trillion globally, is also preparing to open its first office in the free zone, which marked its 10-year anniversary last month. In Dubai, U.S. multi-strategy hedge fund Citadel, overseeing $67 billion in assets, is expected to begin operations at the Dubai International Financial Center. 

ADNOC: ADNOC, the UAE’s national oil company, has become the first partner in the nation’s $272 million National Industrial Resilience Fund, which aims to strengthen supply chain resilience, expand local manufacturing and link procurement demand with targeted financing for priority industries.

Public Investment Fund: Acwa Power secured $226 million from the Asian Development Bank, Asian Infrastructure Investment Bank and Standard Chartered Bank for its 300-megawatt Bash II wind farm in Uzbekistan.

Public Investment Fund: Faisal Sultan, President of PIF-backed Lucid Motors in the Middle East, told Asharq Al-Awsat that Saudi Arabia’s electric vehicle market is “witnessing strong and accelerating momentum,” despite being at an early stage.

Mubadala: Bios-IDs, a unit of the Abu Dhabi sovereign wealth fund, signed an agreement with U.S.-based L-Nutra to market nutrition products in the Gulf region.

Mubadala: Health-tracking device brand WHOOP and Mubadala announced a strategic partnership that includes a $75 million investment from the Abu Dhabi sovereign fund to advance preventive healthcare and health innovation in the UAE.

International Holding Co.: Syed Basar Shueb, CEO and Managing Director of IHC, told The National that the fund’s almost doubling of first-quarter income compared to the same period last year “tells you about the resilience we have built in the system.”

💵 Health Venture: UAE-based real estate firm Arada acquired an 80% stake in Reem Hospital as part of a $545 million investment to expand the healthcare provider across the UAE and make a strategic move into the sector.

🧪 Methanol Money: Abu Dhabi’s TA’ZIZ Methanol Company, a joint venture between government-owned TA’ZIZ and Swiss-based Proman, secured $2 billion in financing for a methanol plant, with backing from 11 regional and international banks.

🏫 School Stakes: Qatar’s Lesha Bank said it will acquire a 51% stake in Sharaka Education Holdings for about $53 million through its education subsidiary.

🎲 Gaming  Delay: Wynn Resorts CEO Craig Billings confirmed to analysts on a call that the company expects a modest delay to the opening of its new casino resort in the UAE, Bloomberg reports.

✈️ Shrinking Bonus: Emirates airline reduced employee bonuses to 20 weeks of salary from 22 weeks last year after disruptions from the Iran war lowered annual profit below initial projections.

💰 Debt Adviser: HSBC has been appointed an International Primary Dealer by Saudi Arabia’s Ministry of Finance and NDMC, allowing it to connect foreign investors with local government debt instruments amid growing global interest in the Kingdom’s economic transformation.

🏡 Buyers’ Market: Dubai’s residential property market is becoming more buyer-friendly as villa prices stabilize, sales slow, and sellers grow more open to negotiation, The National reports.

🎒 Posh Tots: Private schools in the U.K. have seen a jump in interest from families leaving the Gulf since the outbreak of the Iran conflict, the Financial Times reports.

UAE President Sheikh Mohamed bin Zayed met in Abu Dhabi with Egyptian President Abdel Fattah Al Sisi on Thursday. The pair walked through Yas Mall and visited an Egyptian fighter jet detachment stationed in the UAE.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, attended the 2026 commencement ceremony of Mohamed bin Zayed University of Artificial Intelligence on Thursday.

Sheikh Hamdan bin Mubarak, Chair of the UAE Football Association, affirmed the association’s full support for Gianni Infantino’s candidacy for the presidency of the International Federation of Association Football (FIFA) for the new electoral term 2027-2031.

Eric Trump and Donald Trump Jr. have invested in American Ventures, a Dominari Holdings unit, which has raised about $1 billion to back U.S. firms in AI, crypto, drones, and other strategic industries aligned with Trump administration priorities, the Financial Times reports.

Mariam Al Mheiri, Vice Chair and Managing Director of 2PointZero, met with Evan Spiegel, co-founder and CEO of Snap Inc., at the headquarters of Snapchat in Los Angeles. 

Dr. Sultan Al Jaber, the UAE’s Minister of Advanced Technology and CEO of ADNOC, inaugurated a new $54 million paper mill in Abu Dhabi on Thursday.

Ray Dalio, Founder of Bridgewater Associates, appeared on an episode of The New York Times’ “Interesting Times” podcast to discuss his views on how growing deficits, the wealth gap and political division are contributing to a tumultuous future for the U.S.

Arvind Krishna, Chairman and CEO of IBM, said the company wants to be seen by Saudi Arabia as a partner in the large-scale industrial and institutional execution of AI integration in the kingdom, speaking in an interview with Asharq Al-Awsat in Boston.

Mohammed Al-Rumaih, CEO of the Saudi Exchange, said the inclusion of its domestic bonds in two global indexes could draw billions of dollars of fresh money to the local debt market, Bloomberg reports. 

👠 In The Bag: The Louvre Abu Dhabi scored a starring role alongside Meryl Streep in the blockbuster movie “The Devil Wears Prada 2.” A bag designed in collaboration with luxury Italian leather goods company Dellaluna was seen tucked under Streep’s character Miranda Priestly’s arm in a red carpet scene, The National reports. The maxi clutch, called the Louvre Abu Dhabi Bag, is made in the Venetian brand’s signature embossed leather, inspired by the pattern of the museum’s Jean Nouvel-designed dome. The bag was officially launched on Wednesday at the Venice Biennale.

📷 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 he 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.

OPEC LOW

OPEC oil production has fallen to the lowest level in 36 years. As the Iran war disrupted exports and infrastructure across the Gulf, supplies sunk by 420,000 barrels a day in April to 20.5 million barrels, according to a Bloomberg survey. The report reflects the shutdown of oil shipping in the Gulf that has sent prices for jet fuel, diesel and gasoline skyrocketing. It was released on Tuesday, almost a week after the UAE announced it would leave OPEC following years of friction with Saudi Arabia and other members over production quotas. The survey showed that Kuwait had the biggest losses last month – producing less than a third of pre-conflict levels – followed by Iran.

FLIGHT DELAY

The commercial launch of Riyadh Air, the new carrier backed by Saudi Arabia’s Public Investment Fund, is facing delays because of hold-ups in certification of its new jets by the U.S. Federal Aviation Administration. The airline was supposed to start taking delivery of its Boeing  787 widebody aircraft last year, but only a handful of the planes have been assembled and they are still awaiting certification, Bloomberg reports. The certification process has dragged on for months longer than expected and the FAA has not given a fresh timeline for final approvals, the news agency reports. Riyadh Air, which has not yet given an exact date for its planned 2026 launch, signed deals for more than 39 Boeing 787-9 models, with options for 33 more. It also has orders for 100 narrow and widebody aircraft from Airbus, which are yet to be delivered.

Mubadala: CredibleX, a UAE lender specializing in AI-driven financing for small businesses, raised $15 million in a Series A funding round led by the Abu Dhabi sovereign wealth fund.

Mubadala: Mubadala said it has made a minority investment in Power Factors alongside existing investor Vista Equity Partners to support the global expansion of its renewable energy management platform.

Oman Investment Authority: Oman’s sovereign wealth fund has invested in Elon Musk’s brain chip firm Neuralink.

Saudi Aramco: Asmo, a joint venture between the Saudi oil giant and DHL Supply Chain, has started building its first large logistics hub at King Salman Energy Park in Saudi Arabia.

EDGE: Lockheed Martin signed an agreement with the Tawazun Council for Defense Enablement to establish an advanced microelectronics design and assembly facility in the UAE, to be built in partnership with Abu Dhabi defense group EDGE.

Public Investment Fund: Saudi Arabia’s PIF is selling its first U.S. dollar bond since the start of the Iran conflict, Bloomberg reports.

🏥 Healthcare Buyout: Saudi Arabia’s Dr. Soliman Fakeeh Hospital Co. agreed to acquire Dr. Mohammed Bin Rashed Al Faqih & Partners Co. in a deal valued at about $425 million amid consolidation in the kingdom’s private healthcare sector.

🚧 Rebalancing Riyadh: The Royal Commission for Riyadh City has awarded $637 million in infrastructure contracts under a program aimed at providing affordable residential land to Saudi citizens.

🚗 Scrap Station: Stellantis, an Amsterdam-based car maker, has opened its first Middle East and Africa vehicle dismantling centre in Casablanca.

🔗 Aluminum Expansion: Egypt signed a strategic partnership with Trafigura to expand the Nag Hammadi Aluminum Complex, investing up to $900 million through the Metallurgical Industries Holding Company subsidiary, Egyptalum.

🛍️ Trust Building: Brookfield Asset Management is forming a joint venture with Alshaya Group to develop a 480,000-square-foot mixed-use project in Dubai Hills, in a bid of  confidence in the long-term strength of the Dubai property market.

₿ Crypto Acceleration: Wall Street giant BNY is collaborating with Finstreet and the ADI Foundation to launch regulated digital asset custody services within the Abu Dhabi Global Market.

🏰 Happiest News: Plans to build Disneyland Abu Dhabi remain on track despite the Iran conflict, with Disney CEO Josh D’Amaro saying in a letter to shareholders that the “strategic logic” of the UAE project remains unchanged. 

🚢 Port Pressure: The UAE’s eastern ports of Fujairah and Khor Fakkan have become the Gulf’s main trade lifeline since the Strait of Hormuz was effectively shut, with truck and container traffic surging even after Iranian drone attacks targeted Fujairah facilities, Reuters reports.

💵 Selling Assets: Italy’s UniCredit said it has reached a preliminary agreement to sell part of its Russian subsidiary to a private investor in the UAE for an undisclosed amount, The Wall Street Journal reports.

UAE President Sheikh Mohamed bin Zayed met today in Abu Dhabi with Sheikh Mohammed bin Abdulrahman Al Thani, Prime Minister and Minister of Foreign Affairs of Qatar. He also met with Nikos Christodoulides, President of Cyprus. On Wednesday, Sheikh Mohamed met with Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, at the Make it the Emirates expo in Abu Dhabi. He also met with John Mahama, President of Ghana, on the sidelines of the event.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, co-chaired with Sheikh Mohammed bin Abdulrahman Al Thani, Prime Minister and Minister of Foreign Affairs of Qatar, the seventh session of the UAE-Qatar Joint Higher Committee, held today at the Zayed National Museum in Abu Dhabi.

Sheikha Al Mayassa bint Hamad, sister of Emir of Qatar Sheikh Tamim bin Hamad, attended the opening of the new Qatar Pavilion at the Venice Biennale.

French President Emmanuel Macron said in a post on X that he spoke with Iranian President Massoud Pezeshkian and “condemned the unjustified strikes against Emirati civilian infrastructure and several ships.”

Saad Rafiq Al Hariri, the former Lebanese Prime Minister, was seen at the Make it in the Emirates exhibition in Abu Dhabi on Wednesday.

Mohamed Alsuwaidi, UAE Minister of Investment, said during a fireside chat at the Make it in the Emirates expo that the UAE’s economic landscape is driven more by the private sector than the government.

Mohamed Sultan Salim Al Habsi was appointed CEO of Oman Investment Bank.

🏅 Prized Landmark: Abu Dhabi’s newly-launched Zayed National Museum was named one of the World’s Most Beautiful Museums at the international architecture and design award Prix Versailles, presented at UNESCO Headquarters in Paris. Designed by Norman Foster of Foster + Partners and inspired by the wing of a falcon, the UAE’s national museum’s five steel towers soar elegantly above the Saadiyat cultural district, while also functioning as thermal chimneys to naturally regulate airflow within the building.

📷 Photo of the Day

May 11-13, Abu Dhabi. Ai Everything. A one-day summit combined with a two-day expo explores how AI and humans can work together. ADNEC.

May 12-14, Dubai. Airport Show & Global Airport Leaders Forum. Bringing together top airport suppliers, aviation leaders, and thousands of professionals. Dubai World Trade Center. 

May 12-14, Abu Dhabi. Abu Dhabi Infrastructure Summit. The event brings senior government leaders, global investors, developers, contractors, policymakers, and technology providers to discuss the future of smart cities, urban development, and sustainable infrastructure. ADNEC. 

May 15-17, Dubai. Art Dubai. Annual event taking place in Dubai, bringing artists from the region and the Global South. Madinat Jumeirah.

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

May 19-21, Damascus. Big5 Construct Syria. The inaugural edition of the platform for reconstruction and development. Syria Expo Center.

May 19-21, Riyadh. Middle East Museums & Heritage Expo. Saudi Arabia’s first dedicated museum, heritage and cultural development trade show. Riyadh Front Exhibition & Convention Center.

May 8-24, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments, game launches and free activities citywide, including GameExpo 2026. Dubai World Trade Center. 

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

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.

FALLING SHORT

Saudi Arabia has posted its biggest quarterly budget deficit since 2018 in a sign of the challenges faced by the Middle East’s largest economy in the wake of the Iran war. The budget shortfall of 125.7 billion riyals ($33.5 billion) is more than double that for the same period last year. Despite the kingdom attempting to rein in some of its spending on big-budget projects and splashier investments like LIV Golf, expenditure rose about 20% to $103 billion during the quarter. While the conflict has caused disruption and damage to some infrastructure, Saudi Arabia has now diverted most of its oil exports to the Red Sea port of Yanbu and is benefiting from the higher oil price, meaning it could see improved revenues and a smaller shortfall for the second quarter if it maintains export levels, Bloomberg reports.

MILKEN FINALE

As the Milken Institute’s Global Conference 2026 wraps up today in Los Angeles, Gulf executives will be talking about attracting investment, gaming and the region’s role in the current conflict with Iran. A morning session on the UAE features Emirates NBD Chief Investment Officer Maurice Gravier, while Mubadala Co-CEO of Private Equity Camilla Languille joins a discussion on the growing influence of private capital in global markets. Laura Miele, whose Electronic Arts is being acquired by Saudi Arabia’s Public Investment Fund, appears at a gaming industry session and Tel Aviv Stock Exchange Chairman Eugene Kandel will discuss Israel’s capital market. Speaking on Monday, Dubai Economic Development Corp. CEO Hadi Badri said the emirate has learned from previous crises to work on improving logistics and infrastructure. “Now we’re saying: Don’t waste this challenge. Let’s turn it into an opportunity.

Mubadala: The Abu Dhabi sovereign wealth fund will co-invest $300 million with New York-based investment company Stonepeak to build the world’s largest shipping container leasing platform.

ADNOC: The UAE national oil company is preparing to launch shale-style oil and gas projects using hydraulic fracturing and horizontal drilling after the UAE’s exit from OPEC, Reuters reports.

AD Ports: Abu Dhabi-based LifePharma signed a $190 million agreement with AD Ports Group to build a pharmaceutical manufacturing platform aimed at boosting local drug production.

AD Ports: AD Ports Group signed an agreement with CMA Terminals, Khalifa Port container terminal and CMA CGM Group to expand inland reach across the UAE and the wider region via its rail-linked cargo network.

LIV Golf: The ailing league has appointed law firm Gibson Dunn & Crutcher, investment bank Ducera Partners and business advisory firm AlixPartners as it scrambles to find investors following the PIF’s departure.

Public Investment Fund: The PIF has opened an office in Shanghai, its second outpost in mainland China, Bloomberg reports.

🛠️ New Venture: The UAE plans to become a key producer of the advanced material Graphene, which is used in batteries, sensors and computer chips, after Dana Gas partnered with the U.K.’s Levidian to develop the Sharjah Graphene Park.

✈️ Defense Push: Brazil’s Embraer is pursuing new defense contracts across the Middle East after securing an aircraft order from the UAE, targeting regional demand for military transport and surveillance platforms, Reuters reports.

💳 Security Bet: A unit of UAE telecom company e& said it invested in U.S.-based payments security company MagicCube’s $10 million fundraising.

💰 Overland Route: Trade across the Oman-Saudi Arabia border has surged to record levels, nearly tripling to $830 million in March, as companies reroute goods like fertilizers, food, and machinery overland.

🌙 Record Sukuk: The International Islamic Liquidity Management Corporation raised $1.5 billion from its latest Islamic bonds offering, considered to be the largest single issuance in over a decade.

🛡️ Defense Fund: Top leaders in Abu Dhabi have held preliminary talks on creating a new defense-focused investment vehicle which would be mandated to take stakes in companies worldwide to diversify supplies for the UAE, Bloomberg reports. Among those reported participating were Crown Prince Sheikh Khaled bin Mohammed and Mubadala CEO Khaldoon Al Mubarak..

🛳️ Ship Hit: French shipping group CMA CGM said several crew members of the San Antonio container ship were injured and the vessel sustained damage when it was attacked by Iran in the Strait of Hormuz on Tuesday.

🛂 Visa Drop: Turkish President Recep Tayyip Erdoğan and Saudi Crown Prince Mohammed bin Salman are set to eliminate visa requirements between their countries to ease travel and strengthen economic ties following years of strained relations, Reuters reports.

🥗 Food Stamp: UAE’s First Abu Dhabi Bank and Emirates NBD, as well as Bahrain’s Arab Banking Corporation, are most likely to support Egypt’s request for $700 million from GCC banks to cover essential food imports.

💵 Big Wins: The Comprehensive Economic Partnership Agreements, which the UAE has put in place with 36 countries so far, enabled the UAE’s non-oil foreign trade to surpass $1 trillion in 2025.

🧑🏽‍🚒 Fighting Fire: Firefighters contained a blaze this morning at an under-construction 50-storey tower in Dubai Marina’s The Residences Al Habtoor Grand, which is owned by UAE conglomerate Al Habtoor Group.

UAE President Sheikh Mohamed bin Zayed met with Kyriakos Mitsotakis, Prime Minister of Greece, today. Sheikh Mohamed also held a phone call this week with Israel’s Prime Minister Benjamin Netanyahu, Bloomberg reports.

Kuwait’s Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah met with the GCC’s Secretary-General Jasem Mohamed Al-Budaiwi at the Bayan Palace in Kuwait on Tuesday.

Sheikh Hamad bin Mohammed, Ruler of Fujairah, Sheikh Mohammed bin Hamad, Crown Prince of Fujairah, and Sheikh Theyab bin Mohamed, Deputy Chairman of the Presidential Court for Development and Fallen Heroes’ Affairs, and Chairman of Etihad Rail, visited Fujairah passenger station, the first completed passenger station on the UAE’s Etihad Rail network.

Yousef Al Otaiba, UAE Ambassador to the U.S., wrote in the Financial Times that leaving OPEC is not a commercial calculation alone, but reflects structural changes in energy markets. “The UAE has the capacity to contribute to global energy security and international economic stability at a moment when that security and stability is genuinely at risk. We intend to do so,” he said.

Ukrainian President Volodymyr Zelensky said he offered Bahrain a joint drone production deal during talks in Manama with Crown Prince Salman bin Hamad Al Khalifa. Zelensky seeking Gulf funding and cooperation to expand Ukraine’s defense manufacturing capacity amid the war with Russia.

Mohammed Alabbar, Emirati businessman and founder of Emaar Properties, visited Damascus on Tuesday, as he explores a potential $50 billion investment in two major construction projects.

Mohammed El-Kuwaiz, Chairman of the Saudi Capital Market Authority, told Al-Eqtisadiahthat the authority is prioritizing domestic listings over dual listings to curb capital outflows.

Abdulla Balalaa, UAE Assistant Minister of Foreign Affairs for Energy and Sustainability, took part in the 5th Istanbul International Water Forum on Tuesday.

🏰 Making Magic: A soaring crystalline castle inspired by “Frozen,” a branded hotel and a turn-of-the-century Main Street inspired by the fictional Middle East city of Agrabah from “Aladdin” are among the likely features of Disneyland Abu Dhabi, which is being built on Yas Island. Jim Shull, a former Disney theme park designer and creator of the Disney Journey YouTube channel, gave The National insight into how the features of the new park would be decided. “Abu Dhabi will want something that feels like a Disneyland, yet at the same time something that’s unique to them … something that you can only come to Abu Dhabi to see,” he said.

📷 Photo of the Day

May 4-7, Abu Dhabi. Make It In The Emirates. The UAE industrial promotion board’s annual event marks its fifth anniversary. ADNEC.

May 11-13, Abu Dhabi. Ai Everything. A one-day summit combined with a two-day expo explores how AI and humans can work together. ADNEC.

May 12-14, Dubai. Airport Show & Global Airport Leaders Forum. Bringing together top airport suppliers, aviation leaders, and thousands of professionals. Dubai World Trade Center. 

May 12-14, Abu Dhabi. Abu Dhabi Infrastructure Summit. The event brings senior government leaders, global investors, developers, contractors, policymakers, and technology providers to discuss the future of smart cities, urban development, and sustainable infrastructure. ADNEC. 

May 15-17, Dubai. Art Dubai. Annual event taking place in Dubai, bringing artists from the region and the Global South. Madinat Jumeirah.

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

May 19-21, Damascus. Big5 Construct Syria. The inaugural edition of the platform for reconstruction and development. Syria Expo Center.

May 19-21, Riyadh. Middle East Museums & Heritage Expo. Saudi Arabia’s first dedicated museum, heritage and cultural development trade show. Riyadh Front Exhibition & Convention Center.

May 8-24, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments, game launches and free activities citywide, including GameExpo 2026. Dubai World Trade Center. 

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

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.

MILKEN MORNING

In Beverly Hills, where the Milken Institute’s Global Conference 2026 enters Day 3 this morning, the embattled Middle East is front and center. One session today focuses on the GCC states, featuring interviews with Hadi Badri, CEO of the Dubai Economic Development Corp., and Qatar’s Finance Minister Ali Al Kuwari. Other speakers include Majid Al Suwaidi, CEO of Altérra, Ahmed Al Zaabi, Chairman of the Abu Dhabi Global Market. At a panel talk on Monday, Mubadala Deputy Group CEO Waleed Al Mokarrab Al Muhairi said disruption from the war won’t divert the sovereign wealth fund from its strategy of directing more money to the U.S., which he termed the best investment destination from a “risk-reward” perspective.

WIND POWER

Masdar is bolstering its expansion in the Iberian market with the purchase of another major stake in wind and solar assets. The Abu Dhabi green energy company has agreed to buy a 49% stake in Spanish energy group Repsol’s largest renewables portfolio, according to a Spanish media report. The Minerva project includes 13 wind farms and six solar farms, with 706 megawatts of installed capacity, and is valued at about 850 million euros ($996 million). The deal is in its final stages and is likely to be formalized within weeks, newspaper Cinco Dias reported on Monday. Masdar has been snapping up European assets, with a strong focus on Spain. In October, it finalized its purchase of a 49.99% stake in a $432 million portfolio of four solar plants from Endesa.

Public Investment Fund: Strauss Zelnick, the CEO of video-game publisher Take-Two Interactive, which counts the PIF’s Savvy Games Group as a major shareholder, told Bloomberg the November launch of “Grand Theft Auto VI” under its Rockstar Games subsidiary was “terrifying” because expectations were so high for what is anticipated to be one of the biggest entertainment launches of all time. 

LIV Golf: American sports investors say the PGA rival is in “free fall” after the PIF said it would pull out at the end of the 2026 season, leaving the league to scramble for private investors and the sale of its 13 teams, The Athletic reports.

Public Investment Fund: Emaar Economic City, majority owned by the PIF, awarded a $146 million infrastructure contract for Industrial Valley and the Special Economic Zone on Saudi Arabia’s Red Sea coast to Nesma and Partners, which is 30.1% owned by the PIF.

ADNOC: TA’ZIZ, a joint venture between ADNOC and L’imad Holding, announced $28.5 billion in long-term agreements at the Make it in the Emirates forum.

⛏️ Mining Bonanza: Saudi Arabia said mining investments doubled to $11.7 billion in 2025, with a 220% jump in mining licenses.

🛣️ China Road: Chinese companies have been awarded a $5 billion construction project by Saudi Arabia to build a 130-kilometer (80-mile) road connecting the southern cities of Abha and Jazan.

👷 Tunnel Vision: Parsons Corp. has been awarded a nine-month contract on the Dubai Loop, a futuristic underground transport project being built by Elon Musk’s The Boring Company.

📈 IPO Return: Saudi Arabia’s first IPO since the start of the Iran War is expected to raise $55 million for IT services provider Dar Albalad for Business Solutions Co.

💻 Privacy-Preserving: OPAQUE, an AI company headquartered in San Francisco, acquired advanced cryptographic systems from the UAE’s Technology Innovation Institute.

🛡️ AI Defense: Cisco has acquired Israeli startup Astrix to bolster its cybersecurity offerings for AI systems, targeting risks tied to autonomous agents and enterprise automation.

💼 Hedge Move: London-based Man Group, the world’s largest publicly traded hedge fund firm with about $229 billion in assets under management, has applied for a license to operate within Abu Dhabi Global Market, The National reports.

💰 Fresh Start: Capital Group, a global asset manager that manages $3.3 trillion in assets worldwide, is relocating Benno Klingenberg Timm, head of institutional business for Europe and Asia, to Abu Dhabi, where he will also take on the role of head of the firm’s local office.

✈️ Traffic Slump: Passenger traffic at Dubai International Airport fell 66% in March as the Iran war disrupted global travel.

🍦 Frozen Dessert: Dairy Queen, the U.S.-based ice cream chain, said it has paused Middle East expansion plans and that shipping restrictions meant it had to search for alternative routes for products that weren’t made locally.

💵 Cashing Out: A declining monetary base and rising interbank lending rates indicate the UAE banking system is under strain and the central bank will likely intervene again to help lenders, Arabian Gulf Business Insight reports. 

UAE President Sheikh Mohamed bin Zayed received phone calls on Monday from regional leaders, including Saudi Arabia’s Crown Prince Mohammed bin Salman, Bahrain’s King Hamad bin Isa Al Khalifa, and Qatar’s Sheikh Tamim bin Hamad, condemning Iran’s latest attacks on the UAE.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, met with Georges Elhedery, Group CEO of HSBC Holdings, in Abu Dhabi on Monday.

Prince Faisal bin Farhan, Saudi Arabia’s Minister of Foreign Affairs, received his Singaporean counterpart Dr. Vivian Balakrishnan at the ministry’s branch in Jeddah on Monday.

Sheikh Saqr bin Omar Al Qasimi, a member of the Ras Al Khaimah royal family, was appointed CEO of Marjan Development, a unit of one of the UAE’s biggest real estate entities, Marjan Group.

Kristalina ​Georgieva, IMF Managing Director, said on Monday that inflation was already picking up and the global economy could face a “much worse ‌outcome” if the war in the Middle East drags on into 2027 and oil prices hit around $125 per barrel.

Abdul Aziz Al Ghurair, Chairman of Mashreq Bank, told The National that banks are ready to support expansion in the UAE and lenders were posting strong results despite the Iran war.

Hamad Al Marar, Managing Director and CEO of EDGE Group, said the UAE defense group had contracts under execution exceeding $25 billion.

🌎 Artistic Direction: Dubai arts platform Art Jameel is preparing to present a dual country exhibition in the UAE and Saudi Arabia. The two-part group show, titled “Global Positioning System,” will run at Hayy Jameel in Jeddah from May 20 to Oct. 17 and at Jameel Arts Center in Dubai from May 9 to Oct. 4. Bringing together more than 40 artists from around the world, the exhibition explores how navigation systems shape contemporary life, Arab News reports.

📷 Photo of the Day

May 3-6, Los Angeles. Milken Institute Global Conference 2026. The Milken Institute’s flagship annual event brings together leaders across health, finance, business, technology, philanthropy, and public policy. The Beverly Hilton & Waldorf Astoria Beverly Hills.

May 4-7, Abu Dhabi. Make It In The Emirates. The UAE industrial promotion board’s annual event marks its fifth anniversary. ADNEC.

May 11-13, Abu Dhabi. Ai Everything. A one-day summit combined with a two-day expo explores how AI and humans can work together. ADNEC.

May 12-14, Dubai. Airport Show & Global Airport Leaders Forum. Bringing together top airport suppliers, aviation leaders, and thousands of professionals. Dubai World Trade Center. 

May 12-14, Abu Dhabi. Abu Dhabi Infrastructure Summit. The event brings senior government leaders, global investors, developers, contractors, policymakers, and technology providers to discuss the future of smart cities, urban development, and sustainable infrastructure. ADNEC. 

May 15-17, Dubai. Art Dubai. Annual event taking place in Dubai, bringing artists from the region and the Global South. Madinat Jumeirah.

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

May 19-21, Damascus. Big5 Construct Syria. The inaugural edition of the platform for reconstruction and development. Syria Expo Center.

May 19-21, Riyadh. Middle East Museums & Heritage Expo. Saudi Arabia’s first dedicated museum, heritage and cultural development trade show. Riyadh Front Exhibition & Convention Center.

May 8-24, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments, game launches and free activities citywide, including GameExpo 2026. Dubai World Trade Center. 

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

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.

DESERT DETOUR

MSC, the world’s largest ocean cargo carrier, is launching a new Europe-Gulf shipping service that uses sea, rail and trucking routes to get around the blockaded Strait of Hormuz. The new line will run from Antwerp through the Suez Canal to Red Sea ports before moving goods overland across Saudi Arabia, Arabian Gulf Business Insight reports. The shift comes as the U.S.-Iran blockade has disrupted supply chains and threatened a sea corridor that handles about 20% of global oil and gas flows. MSC said the hybrid network, which will begin operating May 10, aims to maintain reliable transit times to major Gulf hubs, including Abu Dhabi, Dubai and the Saudi Port of Dammam.

BANKING LAUNCH

Reem Finance, a subsidiary of Abu Dhabi’s newly formed Judan Financial, has secured a community banking license and converted into a digital bank. Reem Finance will target segments including small and medium-sized enterprises, fintechs and digital wallets, Bloomberg reports. Its board has appointed Sara Al Binali, a former banker at First Abu Dhabi Bank, as CEO. The move underscores the growing ambitions of Judan, which was created in February by International Holding Co., the vast conglomerate led by UAE National Security Advisor Sheikh Tahnoon bin Zayed. Judan, which folded in asset managers Chimera Investments and Lunate Capital, has continued to pursue high-profile deals despite the regional conflict. In March, it bought a majority stake in Alpha Wave Global, which has holdings in AI companies including SpaceX, Anthropic and OpenAI.

G42: California chipmaker Cerebras, which counts UAE tech investor G42 and Abu Dhabi’s Mohamed bin Zayed University of Artificial Intelligence as its biggest customers, is seeking to raise as much as $3.5 billion in its IPO, Bloomberg reports.

ADNOC: The UAE’s national oil company plans to fast-track about $55 billion in project awards between 2026 and 2028 as it accelerates expansion following the UAE’s exit from OPEC.

ADNOC Drilling: The company completed its acquisition of an 80% stake in MB Petroleum Services, a drilling and oilfield services joint venture with MB Holding Company with operations in Oman, Kuwait, Saudi Arabia, and Bahrain.

Public Investment Fund: HUMAIN, the AI company backed by the Saudi sovereign wealth fund, expanded its work with Amazon Web Services by launching a new global initiative to accelerate enterprise adoption of generative AI.

NEOM: Saudi Arabia is promoting the PIF-owned port of NEOM as a hub connecting the Gulf with Europe and Africa that enables shippers to avoid the blockade of the Strait of Hormuz, the Financial Times reports.

Abu Dhabi Investment Office: The government agency launched a new branding campaign with the tagline: “Beyond Capital.” ADIO says in a LinkedIn post that Abu Dhabi will be presented as “an ambitious city that doesn’t just attract capital; it multiplies it. A place where businesses don’t just land, they grow.”

🪖 Go Ahead: The Trump administration approved sales of $8.6 billion in military equipment to Middle East allies, including the UAE, Qatar and Israel.

🚧 Building North: Alef Group has awarded approximately $204 million in construction contracts to launch the final phase of its Hayyan development in the UAE’s northern emirate of Sharjah.

📸 Doha Hub: Media City Qatar has surpassed 500 licensed companies, a 60% increase since early 2026 and a fivefold growth since 2024.

💰 Meme Dreams: U.S. retailer GameStop is pursuing support from Middle Eastern sovereign wealth funds for its $56 billion bid to acquire eBay.

💵 Debt Doubts: IFFCO Group, a Dubai-based food conglomerate which owns the London Diary ice cream brand, is facing provisional liquidation after stalled restructuring talks over its $2 billion debt, The Financial Times reports. 

🤐 Silent Treatment: Saudi Arabia is holding off on responding to the UAE’s exit from OPEC, opting instead for a longer-term approach to managing the cartel amid disruptions from the Iran war, the Financial Times reports

🕋 Pilgrim Pinch: The Iran war is driving up costs for Indian Muslims to make the Hajj pilgrimage to Mecca, with higher airfares and disrupted logistics making the journey significantly more expensive this year, The New York Times reports.

🛡️ Laser Defense: Israel provided the UAE with a version of its new Iron Beam laser-based air defense system to help protect it from missile and drone attacks from Iran, the Financial Times reports.

🌐 Satelite Seizure: The Iranian state news agency Fars reported the seizure of hundreds of Starlink-connected devices across multiple provinces.

UAE President Sheikh Mohamed bin Zayed is the subject of a Financial Times profile exploring the independent course he has charted from other Gulf states, including his decision in April to leave OPEC.

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, launched the primary tunneling works for the $5.6 billion Dubai Metro Blue Line project.

U.S. President Donald Trump said on Sunday that the U.S. will begin guiding stranded ships through the Strait of Hormuz, calling the operation a “humanitarian gesture.”

Scott Bessent, U.S. Treasury Secretary, said on Sunday that the U.S. is “suffocating” Iran’s leadership through an economic blockade launched alongside its military offensive.

Changpeng Zhao, known as CZ, the founder of crypto exchange Binance, told The National that the UAE’s strategy has positioned it among the most advanced countries globally in regulating digital assets, and he expects it to be “the center for money.”

Ammar Taleb Hajeyah was appointed as Chief Investment Officer of InvestGB, the investment arm of Gulf Bank.

🤖 Reel Deal: Seattle-based filmmaker James Gerde has described the UAE’s approach to artificial intelligence as a “big breath of fresh air.” Gerde, whose work blends motion capture with AI-driven visual transformation, is part of the AI x Arts Fellowship, a year-long program at Abu Dhabi’s Mohamed bin Zayed University of Artificial Intelligence that combines technical experimentation with philosophy and cultural immersion. “To be able to come out to a place that is so gung-ho about technological advancement, but also thinking about how it connects to art and history, is incredible,” he told The National.

📷 Photo of the Day

May 3-6, Los Angeles. Milken Institute Global Conference 2026. The Milken Institute’s flagship annual event brings together leaders across health, finance, business, technology, philanthropy, and public policy. The Beverly Hilton & Waldorf Astoria Beverly Hills.

May 4-7, Abu Dhabi. Make It In The Emirates. The UAE industrial promotion board’s annual event marks its fifth anniversary. ADNEC.

May 11-13, Abu Dhabi. Ai Everything. A one-day summit combined with a two-day expo explores how AI and humans can work together. ADNEC.

May 12-14, Dubai. Airport Show & Global Airport Leaders Forum. Bringing together top airport suppliers, aviation leaders, and thousands of professionals. Dubai World Trade Center. 

May 12-14, Abu Dhabi. Abu Dhabi Infrastructure Summit. The event brings senior government leaders, global investors, developers, contractors, policymakers, and technology providers to discuss the future of smart cities, urban development, and sustainable infrastructure. ADNEC. 

May 15-17, Dubai. Art Dubai. Annual event taking place in Dubai, bringing artists from the region and the Global South. Madinat Jumeirah.

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

May 19-21, Damascus. Big5 Construct Syria. The inaugural edition of the platform for reconstruction and development. Syria Expo Center.

May 19-21, Riyadh. Middle East Museums & Heritage Expo. Saudi Arabia’s first dedicated museum, heritage and cultural development trade show. Riyadh Front Exhibition & Convention Center.

May 8-24, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments, game launches and free activities citywide, including GameExpo 2026. Dubai World Trade Center. 

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

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.

GOLF RETREAT

LIV Golf is seeking new investors after Saudi Arabia’s Public Investment Fund said on Thursday it will stop funding the league beyond the 2026 season because the investment “no longer aligns with its priorities.” The Saudi sovereign wealth fund, which has poured more than $5 billion into LIV since 2022, has retreated from a range of other costly projects over recent months, including scaling down its desert ski resort at Trojena and the massive cube-shaped Mukaab development in Riyadh. Beyond LIV Golf, the PIF said it will continue to provide backing for “current and future investments in various sports as a priority sector.” U.S. President Donald Trump, who has hosted LIV Golf events at his resorts, called on the PGA Tour to lift its boycott of players who left for the new league’s sky-high compensation packages.

AI WARNING

The Middle East could account for roughly a quarter of global AI infrastructure spending over the next five years, Thiel Capital Managing Director Jack Selby says. If geopolitical instability forces delays or cancellations of investments in data centers and other large-scale AI projects, the ripple effects could damage the industry’s highly leveraged tech and infrastructure firms, Selby said in a CNBC interview. “I think markets have underappreciated how important the Middle East region is for CAPEX spending as it relates to AI and AI infrastructure,” Selby said. “If the Middle East starts taking some of these projects offline,” he said, “the impact on the market could be much, much, much larger than what is currently priced in.” 

International Holding Co.: IHC-backed Orbit Works announced plans to invest $1 billion over the next five years to expand its satellite network.

ADNOC: Borouge, a joint petrochemical venture of ADNOC and Austria’s OMV, reported a 45% drop in first-quarter net profit due to logistics disruptions, which cut revenue and increased freight costs.

G42: Hany ElGohary was appointed as Senior Vice President-Head of Enterprise at Abu Dhabi’s AI firm G42.

📈 Korea Pact: The UAE and South Korea have enacted their first Comprehensive Economic Partnership Agreement, cutting tariffs on over 90% of trade and strengthening investment and private sector cooperation.

💰 ETF Intro: The Abu Dhabi Securities Exchange introduced trading in the U.S.-based KraneShares Wahed Alternative Income Index ETF.

🇪🇬 Gas Bill: UAE-based Dana Gas received an additional $20 million from Egypt, fully settling all overdue receivables following ongoing payments and a strengthened 2024 concession agreement.

🏛️ New Rules: Dubai International Financial Centre is proposing amendments to its regulations to improve structuring options and expand the role of corporate service providers. 

🤝 Bahrain Merger: National Bank of Bahrain has submitted a merger proposal to the Bank of Bahrain & Kuwait, with negotiations expected to take place on May 5. 

💻 AI Zone: Oman plans to establish a Special Artificial Intelligence Zone in Muscat to boost its tech sector, offering incentives under free-zone laws.

👍 Go-Ahead: Rokos Capital Management said it will open an Abu Dhabi office after securing a full license and office space.

🌐 Blockchain Hub: Ripple, the provider of blockchain-based enterprise solutions across traditional and digital finance, said it will open a Middle East and Africa regional headquarters in the Dubai International Financial Centre.

💷 Funding Round: Starcloud, a two-year-old startup developing orbital data centers, is in talks with investors to raise at least $200 million at a valuation of about $2.2 billion, The Information reports.

UAE President Sheikh Mohamed bin Zayed met with Nechirvan Barzani, President of the Kurdistan Region of Iraq, on Thursday in Abu Dhabi.

Sheikh Mohammed bin Rashid, Vice President and Prime Minister of the UAE and Ruler of Dubai, honored the winners of the ‘Erth Dubai Awards’ for cultural and social documentation. Attending the ceremony was Sheikh Hamdan bin Mohammed bin Rashid, Crown Prince of Dubai and UAE Minister of Defense.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, met with Jean-Noël Barrot, France’s Minister for Europe and Foreign Affairs, on Thursday in Abu Dhabi.

Ali al-Zaidi, Iraq’s Prime Minister-designate, was invited to visit the White House by U.S. President Donald Trump after he forms a new government, as the US seeks to limit Iran’s influence on its neighbor. 

Bandar Alkhorayef, Saudi Minister of Industry and Mineral Resources, met with Benjamin Gallezot, France’s Interministerial Delegate for Strategic Minerals and Metals Supplies.

Gianni Infantino, President of the FIFA soccer federation, said on Thursday that Iran would take part in the World Cup this summer. 

🌶️ Salsa Strain: The Strait of Hormuz shutdown is creating havoc for Dubai’s usually bustling restaurant scene, shrinking reservations, raising costs and forcing chefs to get creative just to keep their kitchens open. At Mexican restaurant Lila Molino, chef Shaw Lash is swapping in local vegetables to replace the imported avocados, tomatillos, chilies and herbs that go into her zesty salsas and fajitas, Reuters reports. Lash is also focusing on her popular home fajita kits and a bespoke grocery line.

DEEPING RIFT

The UAE’s decision to quit OPEC has exposed a widening split with Saudi Arabia, reflecting years of tension over oil quotas, regional conflicts and competing visions for Gulf leadership. But the rupture extends beyond petroleum policy disputes into the personal relationship between UAE President Sheik Mohamed bin Zayed and Saudi Crown Prince Mohammed bin Salman, Reuters reports. “What we’re seeing now is a kind of breakdown between the two most powerful leaders in the Gulf,” Fawaz Gerges of the ​London School of Economics told the news agency. U.S. President Donald Trump praised the UAE for leaving OPEC, saying the move would help lower global energy prices as markets adjust to looser supply coordination.

SLOWING GROWTH

Saudi Arabia’s quarterly economic growth slowed to its weakest pace since mid-2024, as the kingdom deals with the Iran war’s impact on oil. Gross domestic product grew 2.8% year-on-year in the three months through March, according to preliminary data from the General Authority for Statistics – down from 5% in the previous quarter. The oil sector’s growth eased sharply to 2.3% from 10.8%. Non-oil activity also slowed to 2.8% from 4.3% in the prior quarter, Bloomberg reports. “The playbook that the Saudi authorities deployed at the beginning of the crisis allowed them to be more resilient,” said Jihad Azour, the International Monetary Fund’s Middle East and Central Asia director, though the IMF has trimmed its 2025 growth forecast to 3.1%. 

Public Investment Fund: Moody’s issued a report on Wednesday about the Saudi sovereign wealth fund, praising its strategic shift toward “sustained value creation, improved capital efficiency and more targeted investment allocation across key sectors.”

L’imad Holdings: AD Ports Group, which is majority owned by Abu Dhabi’s L’imad sovereign wealth fund, signed an agreement with Azerbaijan Transport and Communications to explore strategic collaboration across ports, shipping, logistics, and digital trade.

Mubadala: The Mubadala Foundation has become the Zayed National Museum’s first partner in a public-private collaboration that will deliver over 20 initiatives over five years, focused on youth development and community engagement.

₿ Crypto Takeover: Rain Financial, a cryptocurrency exchange firm regulated by the Abu Dhabi Global Market and the Central Bank of Bahrain, acquired Digital Ma’arefa, a Saudi-based financial media company.

🏠 Real Output: Egyptian developer Delta Capital for Urban Development and Emirates Global Real Estate Investment will roll out a portfolio of mixed-use projects across Egypt, with total investments estimated at $500 million.

💼 Private Push: Lazard is buying private-markets adviser Campbell Lutyens for about $575 million to expand its private capital advisory business, Bloomberg reports.

🩺 Medical Focus: AIdoc, an Israeli startup that uses AI to help radiologists interpret medical imaging more accurately, raised $150 million in a funding round led by Goldman Sachs Alternatives.

📈 Output Push: OPEC members are expected to approve another oil output increase when they meet on Sunday without the UAE’s participation, Reuters reports.

🤝 Trade Resilience: Despite friction over OPEC, trade ties between Saudi Arabia and the UAE remain strong, underpinned by deep economic integration and mutual investment across key industries, Reuters reports.

🇷🇺 Moscow Signal: Russia said it hopes the UAE’s exit won’t diminish cooperation between the remaining members of OPEC+.

💰 All Welcome: Dubai removed the minimum property value requirement for investor residency visas and cut thresholds for joint owners to expand access to residency in the emirate. 

💵 Investment Round: Morocco’s hydrocarbons and mining agency launched its first fundraising round as a public company, seeking support for a proposed $25 billion pipeline to transport North African gas to Europe.

UAE President Sheikh Mohamed bin Zayed held a phone call on Wednesday with Ali Al Zaidi, the new Prime Minister of Iraq.

Qatar’s Emir Tamim Bin Hamad met with Greek Prime Minister Kyriakos Mitsotakis in Athens, and the two agreed to bolster cooperation across trade, energy and defense.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, met with Scott Gilmore, Canada’s Prime Minister’s Senior Advisor on Foreign, Defense, and Security Policy, on Wednesday in Abu Dhabi.

Sheikh Hamad bin Thamer Al Thani, Chairman of Qatar Media Corp., met with Arnaud Pescheux,  Ambassador of France to Qatar, on Wednesday.

U.S. Senator Cory Booker, a New Jersey Democrat, introduced legislation to strengthen antitrust enforcement over large mergers completed during U.S. President Donald Trump’s second term, aiming at Paramount’s acquisition of Warner Bros. Discovery.

Samir Tannir was hired by Citigroup to lead its Middle East operations as the bank deepens its coverage of Gulf sovereign wealth funds and regional deal flow, Bloomberg reports. Tannir was most recently head of HSBC’s regional banking division.

Khalil El Bawab, the Head of Local and Regional Markets at Beltone Holding, said subsidiary Beltone Asset Management will launch two new investment funds in May, Zawya reports.

Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, said the country’s new Supply Chain Resilience Program will target 150 key goods, aiming to strengthen economic security, local manufacturing, and readiness for global disruptions.

عربي Arabic First: The UAE is working on a new law to expand the use of Arabic across public and private life. The legislation would formalize requirements for Arabic in schools, media and business as part of an effort to reinforce the nation’s cultural heritage, Arabian Business reports.

April 28-May 1, Dubai. World Token Summit. The event brings together regulators, founders, fund managers, and architects of the on-chain economy. Zaabel One.

May 3-6, Los Angeles. Milken Institute Global Conference 2026. The Milken Institute’s flagship annual event brings together leaders across health, finance, business, technology, philanthropy, and public policy. The Beverly Hilton & Waldorf Astoria Beverly Hills.

May 4-7, Abu Dhabi. Make It In The Emirates. The UAE’s industrial promotion board celebrates its fifth anniversary. ADNEC.

May 11-13, Abu Dhabi. Ai Everything. A one-day summit combined with a two-day expo explores how AI and humans can work together. ADNEC.

May 12-14, Dubai. Airport Show & Global Airport Leaders Forum. Bringing together top airport suppliers, aviation leaders, and thousands of professionals. Dubai World Trade Center. 

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

May 19-21, Damascus. Big5 Construct Syria. The inaugural edition of the platform for reconstruction and development. Syria Expo Center.

May 19-21, Riyadh. Middle East Museums & Heritage Expo. Saudi Arabia’s first dedicated museum, heritage and cultural development trade show. Riyadh Front Exhibition & Convention Center.

May 8-24, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments, game launches and free activities citywide, 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.

CHINESE MARKET

Chinese investors have proposed a $2 billion logistics and trade city in Egypt’s Eastern Suez economic zone. The project, modeled after China’s massive wholesale Yiwu Market, would span 3 million square meters (32 million square feet) and include showrooms, a hotel, a school and a hospital. It is projected to create around 150,000 jobs. Chinese companies presented details of the project to Hussein Eissa, Egypt’s Deputy Prime Minister for Economic Affairs, in Cairo on Monday, Arabian Gulf Business Insight reports.

WAR RELIEF

Qatar has introduced emergency support measures to help foreign businesses affected by disruptions from the U.S.-Israeli war with Iran. The government is providing financial relief, including rent waivers, payment deferrals, flexible tax deadlines, and extended reporting requirements, through the Qatar Financial Center and the Qatar Free Zones Authority. Invest Qatar is offering up to 40% in support for emergency expenses. The agency is also holding weekly investment seminars and maintaining a 24/7 hotline. 

Saudi Aramco: The world’s biggest oil company is extending the suspension of liquified petroleum gas shipments from its Juaymah export facility through May after structural damage cut off supplies, tightening fuel availability for key Asian buyers, Bloomberg reports.

Public Investment Fund: Saudi Real Estate Refinance Co., a unit of the sovereign wealth fund,  is expanding efforts to deepen the kingdom’s housing finance market, Arab News reports.

ADNOC: The Abu Dhabi oil company has set its May official selling price for Murban crude at $110.75 per barrel, up from $69.45 in April.

🛢️ Libya Bet: Chevron signed a preliminary agreement with Libya to assess shale oil and gas potential.

💰Construction Loan: Kuwait’s Mabanee increased a loan to complete its Aventura mixed business and residential complex by 31% to $429 million.

📉 Bond Slide: MENA bond issuance fell to $48.1 billion in the first quarter of 2026, down 12% year-on-year.

💻 Data Platform: Dubai-based Taranis Capital will develop and operate carrier-neutral data centers across Saudi Arabia in partnership with Emaar Executive Company, valued at $2 billion.

📸 Content Fund: The UAE launched a 5 million-dirham ($1.36 million) Social Content Fund launched by Creators HQ in partnership with Alfan, which will initially support 50 content creators through funding, training programs, advanced filming equipment and state-of-the-art studios.

📈 Energy Surge: The World Bank forecasts energy prices could jump 24% in 2026 if the Middle East war continues to disrupt supply.

👍 Green Light: Citadel, a U.S. hedge fund firm that oversees $67 billion in assets, received regulatory permission to begin operations at the Dubai International Financial Center.

🛠️ Pipeline Lift: JPMorgan Chase and two Kuwaiti lenders are joining HSBC in a $6 billion financing syndicate for potential buyers of a stake in Kuwait Petroleum Corp.’s crude pipeline network.

✈️ Modern Flying: Saudi budget airline, Flynas, is teaming up with Airbus to adopt Evidence-Based Training and the MATe Suite, a digital training program, becoming the first Saudi airline to implement the training methods.

Saudi Crown Prince Mohamed bin Salman chaired a GCC summit in Jeddah on Tuesday with King of Bahrain Hamad bin Isa Al Khalifa, Qatar’s Emir Sheikh Tamim bin Hamad, Kuwait’s Crown Prince Sheikh Sabah Al-Khaled Al-Hamad  and Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs. It was the GCC’s first in-person gathering since the war began.

UAE President Sheikh Mohamed bin Zayed held a phone call with Ulf Kristersson, Prime Minister of  Sweden, during which they discussed ways to strengthen cooperation between the two countries.

Sheikh Mohammed bin Abdulrahman, Qatar’s Prime Minister and Minister of Foreign Affairs, held a phone call with Iraq’s new Prime Minister Ali al-Zaidi on Tuesday.

Sheikh Maktoum bin Mohammed, UAE Minister of Finance and Chairman of the Dubai International Financial center, met with executives from CVC Capital Partners to discuss investment opportunities.

Prince Faisal bin Farhan, the Saudi Foreign Minister, held a phone call with Antonio Guterres, Secretary-General of the United Nations, on Tuesday.

Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports and Chairman and Chief Executive, Emirates Airline & Group, chaired a Dubai Health Board meeting on Tuesday to discuss research conducted by Dubai Health.

Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, and Managing Director and CEO of ADNOC, met in Doha with Saad Sherida, Qatar’s Minister of State for Energy Affairs and Managing Director and CEO of Qatar Energy, on Tuesday.

Ursula von der Leyen, President of the European Commission, warned the continent during a European Parliament session in Strasbourg on Wednesday of the repercussions they will endure as a fallout from the U.S.-Israeli war in Iran.

Khalid Al-Otaibi, Secretary General of the Kuwait-based Arab Energy Organization, said that Arab oil producers must invest in crude storage facilities to ensure uninterrupted exports to the global markets following the closure of the Strait of Hormuz.

Emma Cloney was appointed Senior Vice President, International Sales & Strategy, and General Manager, Ireland, at Abu Dhabi’s Core42. 

🎭 Dark Laughs: Across the Middle East, people are turning to memes and social media jokes as a coping mechanism for the stress of the ongoing war. One video clip from a story about the wave of black humor in The New York Times shows a young man awakened at his parents’ house by an overnight missile barrage and being told by his mother, “Are you serious? – “You’re wearing a T-shirt and not even wearing socks?”

April 27-28, Riyadh. Start Smart Saudi. The forum seeks to gather leading investors and ambitious entrepreneurs seeking to fuel the next stage of their startup growth. The Garage.

April 28-May1, Dubai. World Token Summit. The event brings together regulators, founders, fund managers, and architects of the on-chain economy. Zaabel One.

May 3-6, Los Angeles. Milken Institute Global Conference 2026. The Milken Institute’s flagship annual event brings together leaders across health, finance, business, technology, philanthropy, and public policy. The Beverly Hilton & Waldorf Astoria Beverly Hills.

May 4-7, Abu Dhabi. Make It In The Emirates. The UAE’s industrial promotion board celebrates its fifth anniversary. ADNEC.

May 11-13, Abu Dhabi. Ai Everything. A one-day summit combined with a two-day expo explores how AI and humans can work together. ADNEC.

May 12-14, Dubai. Airport Show & Global Airport Leaders Forum. Bringing together top airport suppliers, aviation leaders, and thousands of professionals. Dubai World Trade Center. 

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

May 19-21, Damascus. Big5 Construct Syria. The inaugural edition of the platform for reconstruction and development. Syria Expo Center.

May 19-21, Riyadh. Middle East Museums & Heritage Expo. Saudi Arabia’s first dedicated museum, heritage and cultural development trade show. Riyadh Front Exhibition & Convention Center.

May 8-24, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments, game launches and free activities citywide, 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.

GULF SQUEEZE

Gulf states appear to be headed toward their worst economic downturn since the pandemic as the Iran war disrupts oil exports, damages infrastructure and chokes shipping through the Strait of Hormuz. Economists surveyed by Reuters sharply cut their 2026 growth forecasts, with Qatar, Kuwait and Bahrain now expected to contract while UAE growth stalls. Saudi Arabia and Oman face downgrades as tourism, retail and other non-oil sectors weaken. Oil prices have risen about 40% since the conflict began, fueling inflation even as governments draw on reserves and sovereign wealth to cushion the economic hit. The projections, based on economist surveys and input from institutions including S&P Global and Goldman Sachs, point to a potential rebound in 2027 if the conflict eases, supported by energy revenues and public investment.

STUDIO STAKES

Paramount has asked the U.S. regulators for approval of the backing from three Gulf sovereign wealth funds for its planned takeover of Warner Bros. Discovery. Under the deal, Saudi Arabia’s Public Investment Fund, the Qatar Investment Authority and Abu Dhabi’s L’imad Holding are set to hold a combined 38.5% stake in the new company. In its petition to the Federal Communications Commission, Paramount notes that buyers David Ellison and his father Larry Ellison, as well as RedBird Capital, will control all voting shares in the company, and that the sovereign funds are only acquiring non-voting shares, according to the Hollywood Reporter. Paramount says the foreign funding is essential to complete the $111 billion deal.

Abu Dhabi Investment Authority: A unit of the sovereign wealth fund took part in a fundraising round by Singapore-based TeraHop, a supplier of high-speed optical transceivers for data centers.

ADNOC: The UAE’s national oil company is planning to invest tens of billions of dollars in a U.S. natural gas business, with its international investment arm, XRG, reviewing 29 deals to build a vertically integrated global gas portfolio, the Financial Times reports.

Public Investment Fund: Saudi Agricultural and Livestock Investment Co., a wholly owned subsidiary of the PIF, raised its stake in Singapore-based Olam Agri to 80% in a $1.9 billion deal.

Canada Strong Fund: Canada is launching a new sovereign wealth fund starting with $18.4 billion of assets under management as it seeks to make the economy less dependent on the U.S. 

☁️ Cloud Software: Vodafone Qatar acquired Doha-based startup MaktApp, a subscription-based cloud software for business management, through its subsidiary Infinity Fintech Ventures.

🍔 High Five: Saudi-listed Alamar Foods secured a $22.7 million Islamic-compliant loan from Saudi Awwal Bank to finance its acquisition of the Five Guys fast-food franchisee in the kingdom.

🌐 Speeding Up: Emirates airline has installed Starlink Wi-Fi on its Boeing A380 aircraft, using three antennas for faster onboard connectivity.

🎈Falling Short: Japan’s helium imports from Qatar plunged to a year-low in March due to Middle East disruptions, even as overall imports rose on increased U.S. supply.

🤖 Quant Bet: Igor Tulchinsky, founder of WorldQuant, is launching a new fund to back early-stage AI, robotics and biotech startups in Israel with investments of up to $1 million per company, Calcalist reports.

🏙️ London Calling: London’s high-end housing market is trying to lure wealthy buyers back from the UAE as the Iran war dents Dubai’s property sector, but U.K. taxes, weaker returns and tighter regulations continue to make the British capital less attractive, the Financial Times reports.

🛥️ Yacht Passage: A $500 million superyacht linked to Russian billionaire Alexey Mordashov crossed the heavily restricted Strait of Hormuz from Dubai to Oman, raising questions about how it secured clearance, Reuters reports.

🛢️Going Up: Oil prices could climb toward $120 a barrel if the war drags on, with Goldman Sachs raising forecasts as supply disruptions from the Middle East tighten global markets and increase risks to energy-dependent economies, the Financial Times reports.

🚫 Surrender Passports: Bahrain said it revoked the citizenship of 69 people accused of “glorifying or sympathizing with the hostile Iranian acts, ⁠or engaging in contacts with external parties.”

🙅‍♂️ Dangerous liaisons: India said Middle East tensions are complicating talks with the U.S. and Iran to protect its $120 million investment in Iran’s Chabahar port, where it holds a 10-year development deal and has sought sanctions waivers.

Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai, visited Al Barakah Dates Factory, the world’s largest privately-owned dates factory, on Monday.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, met with Omid Nouripour, Vice-President of the German Federal Parliament, on Monday in Abu Dhabi.

Prince Faisal bin Farhan, Saudi Foreign Minister, held separate phone calls on Monday with Qatar’s Foreign Minister Sheikh Mohammed bin Abdulrahman, Sayyid Badr bin Hamad, Oman’s Foreign Minister, and Badr Abdellatty, Egypt’s Foreign Minister. 

József Várad, CEO of Wizz Air, accused Gulf carriers of neglecting safety risks by continuing flights during the Iran war, saying some airlines are “operating based on political pressure,” the Financial Times reports.

Abdulaziz Alwasil, Saudi Arabia’s representative to the UN, warned on Monday of the risks to global trade and energy security from the ongoing stalemate in the Strait of Hormuz.

Ali Al Zaidi was nominated by Iraq’s President Nizar Amedi on Monday as a compromise candidate for Prime Minister and given the task of forming the next government.

RJ Scaringe, CEO of electric car maker Rivian – which is backed by the Saudi Arabia’s Abdul Latif Jameel family, earned $403 million for his work at the electric-truck maker last year, about 13 times more than the next-best-paid U.S. car boss, the Financial Times reports.

Ahmed Al-Khateeb, Saudi Arabia’s Minister of Tourism, inspected hotel facilities for pilgrims in Mecca on Monday as part of the preparations for the annual Hajj season next month.

Sadeq Alfardan was appointed as a Partner, and Jonny Mulligan as a Senior Advisor, at NorthStar Insights, a political risk and strategic communications consultancy.

👗 Fashion Pivot: Middle East fashion designers from Dubai to Beirut are coping with wartime disruptions by working around supply chain breakdowns, transport obstacles and safety risks. Some labels are shifting production and relying on regional networks to keep their businesses functioning, the Financial Times reports. Others are using the crisis to expand into international markets as local demand weakens.

April 27-28, Riyadh. Start Smart Saudi. The forum seeks to gather leading investors and ambitious entrepreneurs seeking to fuel the next stage of their startup growth. The Garage.

April 28-May1, Dubai. World Token Summit. The event brings together regulators, founders, fund managers, and architects of the on-chain economy. Zaabel One.

May 3-6, Los Angeles. Milken Institute Global Conference 2026. The Milken Institute’s flagship annual event brings together leaders across health, finance, business, technology, philanthropy, and public policy. The Beverly Hilton & Waldorf Astoria Beverly Hills.

May 4-7, Abu Dhabi. Make It In The Emirates. The UAE’s industrial promotion board celebrates its fifth anniversary. ADNEC.

May 11-13, Abu Dhabi. Ai Everything. A one-day summit combined with a two-day expo explores how AI and humans can work together. ADNEC.

May 12-14, Dubai. Airport Show & Global Airport Leaders Forum. Bringing together top airport suppliers, aviation leaders, and thousands of professionals. Dubai World Trade Center. 

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

May 19-21, Damascus. Big5 Construct Syria. The inaugural edition of the platform for reconstruction and development. Syria Expo Center.

May 19-21, Riyadh. Middle East Museums & Heritage Expo. Saudi Arabia’s first dedicated museum, heritage and cultural development trade show. Riyadh Front Exhibition & Convention Center.

May 8-24, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments, game launches and free activities citywide, 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.

IN A NUTSHELL

The war in Iran has sent pistachio prices soaring to an eight-year high just as global demand surges for pistachio-based treats like Dubai chocolate. As conflict has disrupted shipping routes and trade, exporting the crop from Iran – one of the world’s largest producers – has become increasingly difficult, tightening an already strained market.Even before the conflict, global pistachio supply was under strain due to weaker 2025 harvests in the U.S., and Turkey, with drought hitting Iran particularly hard, The Financial Times reports. Sanctions, domestic unrest and communications shutdowns further have disrupted Iran’s exports, making it harder to coordinate sales and slowing trade. 

MAKING IT

The UAE has launched a 1 billion-dirham ($272 million) National Industrial Resilience Fund. Announced on Sunday by Sheikh Mohammed bin Rashid, the UAE’s Vice President and Ruler of Dubai,  the initiative aims to strengthen supply chains, expand local production and increase the use of artificial intelligence across industries. The fund is being launched in advance of next week’s annual “Make it in the Emirates” forum in Abu Dhabi,  and officials say it will prioritize key sectors of the economy such as food security, manufacturing, pharmaceuticals and advanced technology. The government will also be promoting thousands of locally made products through retail platforms connected to the “Make it in the Emirates” initiative.

AMERICAN JOURNEY

UAE’s Mohammed bin Hamad, Faisal Al Bannai meet with Trump at Mar-a-Lago

Two UAE business leaders who advise President Sheikh Mohamed bin Zayed on security and technology matters visited U.S. President Donald Trump at Mar-a-Lago in Palm Beach, Florida,. They also made a swing through the U.S. to meet with SpaceX founder Elon Musk, investors Marc Andreessen and Ben Horowitz, and defense firm Anduril.

Sheikh Mohammed bin Hamad Al Nahyan, Chairman of Abu Dhabi Airports, and Faisal Al Bannai, Chairman of state-owned defense conglomerate EDGE Group, made the trip to the Trump’s residence and resort over the weekend, The Circuit’s Jonathan Ferziger reports. Both hold senior advisory posts in the UAE Presidential Court.

The two also met separately with Jared Kushner, founder of Miami-based private equity firm Affinity Partners and Trump’s son-in-law. In California, they visited Anduril, with which EDGE signed an agreement in November to form a joint drone aircraft venture.

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Public Investment Fund: Diriyah Co., which is owned by the Saudi sovereign wealth fund, awarded a $490 million contract to a joint venture between Hassan Allam Construction and Al-Bawani Co. to build the Saudi Arabia Museum of Contemporary Art in Riyadh’s Diriyah district.

Oman Investment Authority: Mohammed Al Murshidi, Chairman of the Omani sovereign wealth fund, met with Abdusalam Abdi Ali, Somalia’s Minister of Foreign Affairs and International Cooperation, who is looking for investment  from the OIA.

Dubai Holding: Nakheel, a unit of government-owned Dubai Holding Real Estate, awarded contracts worth almost $1 billion to Dubai-based Ginco General Contracting and United Engineering Construction to build 544 villas on Palm Jebel Ali.

📺 Knowledge Expansion: Saudi Research & Media Group has secured a three-year contract to operate and manage Al Thaqafiya Channel, which specializes in culture and the arts

🚂 Auto Tracks: Etihad Rail Freight has completed the first train shipment of Nissan passenger vehicles for the Al Masaood Automobile dealership from the UAE’s Eastern Coast to the Industrial City of Abu Dhabi. 

💎 Mine Guardians: The Democratic Republic of Congo will establish a paramilitary force to police its mines, funded by the U.S. and UAE, with an initial investment of $100 million and plans to hire 20,000 people by 2028.

💰New Ventures: Oman’s Public Authority for Special Economic Zones and Free Zones secured $521 million in new investments, which will be developed in the Special Economic Zone at Duqm, Salalah Free Zone, and Khazaen Economic City.

🧬 AI Molecule: Hong Kong–based Insilico Medicine has produced a new experimental drug, YXEN-MLLX-01, which was designed using generative AI to target disease-driving proteins and block the biological signals that cause illness, with backing from Abu Dhabi Investment Office and Department of Health – Abu Dhabi.

🤝 Industrial Drive: Saudi Arabia’s Ministry of Industry and Mineral Resources signed three agreements at the Hannover Messe 2026 conference in Germany to advance electrical manufacturing, smart grid technologies, and industrial localization.

📈 Phased Recovery: Shipping of oil, gas and other commodities could take months to return to normal even if the Strait of Hormuz reopens, according to shipping analytics firm Kpler.

💸 New Bond: Dubai-based Emirates NBD Bank is preparing to issue a U.S. dollar-denominated Additional Tier 1 bond, the first such Middle Eastern bank deal since the start of the war, Bloomberg reports.

UAE President Sheikh Mohamed bin Zayed met with Ajit Doval, India’s National Security Adviser, in Abu Dhabi on Saturday. Sheikh Mohamed also met with Mohamed Ould Cheikh El Ghazouani, President of Mauritania, who is on a working visit to the UAE.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, held a phone call with U.S. Secretary of State Marco Rubio on Sunday.

Prince Faisal bin Farhan, the Saudi Foreign Minister, held a phone call with Abbas Araghchi, Iran’s Foreign Minister on Sunday. Prince Faisal also spoke with Amir Khan Muttaqi, Afghanistan’s Foreign Minister and Abdu Latif bin Rahid, Bahrain’s Foreign Minister.

Sheikh Hamdan bin Mohammed bin Rashid, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defense, and Chairman of the Executive Council of Dubai, reviewed several specialized projects being implemented by Dubai’s Roads and Transport Authority, which include the rapid intervention vehicle.

Sheikh Nawaf bin Mubarak Al Thani, Qatar’s former Director of Defense Intelligence Operations, was among more than 2,500guests, including U.S. President Donald Trump, when shots were fired at the White House Correspondents Dinner in Washington, D.C. on Saturday.

Sayyid Badr Hamad Al Busaidi, Oman’s Foreign Minister, said he held “constructive talks” on the Strait of Hormuz with Abbas Araghchi, Iran’s Minister of Foreign Affairs.

Dr Anwar Gargash, Diplomatic Adviser to the UAE President, said the Gulf’s strategy to contain Iran has “failed miserably,” warning of Iran’s long-term threat to the region.

Jassim AlSane, co-head of MENA Investment Banking at Goldman Sachs, told Zawya that the bank has recommended a “re-prioritizing” of certain sectors amid a regional slump in dealmaking.

Mark Dowding, Chief Investment Officer for Fixed Income of RBC Bluebay Asset Management told Bloomberg that Europe faces recession if the Strait of Hormuz crisis isn’t resolved within a month.

Erik Koornneef, was appointed Executive Director, Research, at the Institute for Healthier Living Abu Dhabi.

Bilal Baloch, a partner of UAE-based Shorooq, told Arabian Gulf Business Insight that Gulf startups and venture capital have what it takes to mature and grow as the Iran conflict and the advent of artificial intelligence reshuffle business and geopolitics.

📖 Reading in Rabat: Morocco is preparing to host the International Book and Publishing Fair this week, capitalizing on its designation as UNESCO’s World Book Capital for 2026. The fair is expected to draw hundreds of exhibitors from 50 countries, and Moroccan organizers hope it will position Rabat as a hub for regional publishing and translation deals, The New Publishing Standard reports.

April 27-28, Riyadh. Start Smart Saudi. The forum seeks to gather leading investors and ambitious entrepreneurs seeking to fuel the next stage of their startup growth. The Garage.

April 28-May 1, Dubai. World Token Summit. The event brings together regulators, founders, fund managers, and architects of the on-chain economy. Zaabel One.

May 3-6, Los Angeles. Milken Institute Global Conference 2026. The Milken Institute’s flagship annual event brings together leaders across health, finance, business, technology, philanthropy, and public policy. The Beverly Hilton & Waldorf Astoria Beverly Hills.

May 4-7, Abu Dhabi. Make It In The Emirates. The UAE’s industrial promotion board celebrates its fifth anniversary. ADNEC.

May 11-13, Abu Dhabi. Ai Everything. A one-day summit combined with a two-day expo explores how AI and humans can work together. ADNEC.

May 12-14, Dubai. Airport Show & Global Airport Leaders Forum. Bringing together top airport suppliers, aviation leaders, and thousands of professionals. Dubai World Trade Center. 

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

May 19-21, Damascus. Big5 Construct Syria. The inaugural edition of the platform for reconstruction and development. Syria Expo Center.

May 19-21, Riyadh. Middle East Museums & Heritage Expo. Saudi Arabia’s first dedicated museum, heritage and cultural development trade show. Riyadh Front Exhibition & Convention Center.

May 8-24, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments, game launches and free activities citywide, 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.