TRUMP BELGRADE

Jared Kushner, founder of Gulf-backed Affinity Partners, is bringing the Trump name to Belgrade. Kushner tells Bloomberg in an interview published today that Affinity will team up with Mohamed Alabbar, founder of Dubai-based Emaar Properties, to develop a luxury hotel and apartment complex on the site of the former Yugoslav defense ministry in the Serbian capital. Kushner said he discussed the idea with Eric Trump, his brother-in-law and executive vice president at the Trump Organization, and they settled on the licensing deal. Hussain Sajwani, founder of Emaar rival Damac Properties, appeared with President-elect Donald Trump at his Mar-a-Lago resort last week and pledged to invest $20 billion to build data centers in the U.S.

UNDER THE SEA

The UAE, Italy and Albania are working together on a $1.1 billion venture that includes building a subsea cable to carry renewable energy produced in Albania to Italy. The deal signed Wednesday in Abu Dhabi will focus on large-scale renewable energy projects in Albania, including solar, wind, and hybrid systems involving battery storage, The National reports. It follows a preliminary joint venture agreement last year between Abu Dhabi green energy company Masdar and Albania’s KESH to develop renewable energy projects in Albania. Italian Prime Minister Giorgia Meloni said the deal “tangibly shows new forms of cooperation can be built even among seemingly distant partners – at least geographically speaking.”

DIGGING DEEP

Aramco and Saudi mining company Ma’aden will establish a joint venture to explore for lithium and other energy transition minerals. The two companies said on Wednesday that they aim to extract lithium from high-concentration deposits and explore cost-effective direct extraction methods, with commercial production potentially starting by 2027. The JV aligns with Saudi Arabia’s efforts to diversify its economy from oil, tapping into the kingdom’s mineral reserves in lithium, cobalt, and nickel. Ma’aden signed an agreement with the Public Investment Fund last year to establish a $50 million fund investing in international mining assets.

Public Investment Fund: Manara Minerals, a PIF-backed Saudi mining company, may invest in Pakistan’s Reko Diq mine in the next two quarters, Pakistani Petroleum Minister Musadik Malik said in an interview with Reuters.

Mubadala: KELIX Bio, a pharmaceutical unit wholly owned by the Abu Dhabi sovereign wealth fund, completed the acquisition of DiabTec, which produces diabetes treatments, from UAE drugmaker Julphar.

Lunate: The Abu Dhabi-owned alternative investment fund announced a venture with UAE-based Wio Invest that will enable automated purchasing of Lunate Chimera ETFs,  electronic trading fund securities.

🌽 Grain Reserve: AD Ports Group signed an agreement with Semurg Invest to develop the Sarzha Grain Terminal at Kuryk Port in Kazakhstan, with AD Ports owning 51% of the venture and providing a $50 million investment to nearly triple the terminal’s capacity.

💳 Making Payments: Bahrain’s Investcorp signed an agreement to acquire Epipoli, an international alternative payments provider, from Bregal Milestone and founder Gaetano Giannetto, who will remain a minority shareholder and continue leading the company.

💲Deep Pockets: A managed fund of the Dubai based Shuaa Capital secured a $300 million loan facility from National Bank of Fujairah and The Arab Energy Fund to support growth in its marine offshore support vessel segment.

📊 Data Power: Nvidia announced plans to build a 10,000-square-meter, 30-megawatt data center in Israel and support its growing AI development activities in the country.

🚦Green Light: Affinity Partners received regulatory approval to double its interest in Israeli insurer Phoenix, whose shares have risen 50% since the Gulf-backed fund made its initial $128.5 million investment in July, Bloomberg reports.

🔌  Tesla Arrives: U.S. electric car maker Tesla is expected to launch sales this quarter in Saudi Arabia, opening pop-up stores before establishing showrooms and service centers, Arabian Gulf Business Insight reports.

👋 Bye-bye: Kuwaiti lenders Boubyan Bank and Gulf Bank called off their merger plans after a major shareholder, Alghanim Trading, said it would divest its entire 32.7% stake in Gulf Bank to Warba Bank.

🚆 Fast Track: The UAE announced tenders for a contract to design and build station and civil work for Etihad Rail’s route connecting Abu Dhabi to Dubai, MEED reports. 

🤖 Greetings, Human: An AI-powered humanoid robot has been deployed as a concierge at Abu Dhabi’s five-star St. Regis Saadiyat Island Resort to check in guests and hand out gifts.

UAE President Sheikh Mohamed bin Zayed met separately with Bola Ahmed Tinubu, President of Nigeria, and Giorgia Meloni, Prime Minister of Italy, on Wednesday, during their visit to the UAE to participate in Abu Dhabi Sustainability Week. Sheikh Mohamed also met with Edi Rama, Prime Minister of the Republic of Albania.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council witnessed the signing of an agreement between the Mohamed bin Zayed Species Conservation Fund and Enggang Management Services to establish Southeast Asia’s first tiger reserve dedicated to protecting the critically endangered Malayan tiger and other rare species. Attending the ceremony were Malaysia’s Prince Tengku Hassanal Ibrahim Alam Shah, Regent of Pahang; and Sheikh Theyab bin Mohamed, Deputy Chairman of the Presidential Court for Development and Fallen Heroes’ Affairs, and Chairman of the International Humanitarian Affairs Council.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, met with Shavkat Mirziyoyev, President of Uzbekistan, on Wednesday to discuss sustainable development.

French President Emmanuel Macronwill visit Lebanon on Friday to meet the newly elected President Joseph Aoun, the French Presidency announced.

Saad bin Sherida al-Kaabi, Qatar’s Minister of State for Energy Affairs, took part in Abu Dhabi Sustainability Week. 

Essam Al Organi, CEO of Organi Group, said in an interview with Asharq Business that the group is looking to raise its investment in Egypt’s automotive and tourism sectors to $1 billion within the next five years.

Khalaf Al-Habtoor, Al-Habtoor Group Chairman, said in an interview with Arab News that the group is moving forward with plans to reopen its five-story mall in Beirut and relaunch the Habtoorland amusement park in Jamhour.

Jamal Al Awadhi has been appointed as the new CEO for UAE’s Al Hilal Bank, a subsidiary of ADCB Group, bringing over 20 years of senior leadership experience across diverse sectors, including financial services, media, information technology, and aviation.

Khalil Camille Aboufadel has been announced as a new CEO for Tadawul-listed Raydan Food Company after the previous CEO stepped down for personal reasons last November.

Jan. 13-18, Abu Dhabi. Abu Dhabi Sustainability Week. The conference brings together policymakers, corporate executives and environmental leaders to discuss the challenges of climate change. ADNEC.

Jan. 16-19, Dubai. Hero Dubai Desert Classic. Golf Tournament brings in world class athletes. Emirates Golf Club.  

Jan. 20-24, Davos, Switzerland. World Economic Forum. The annual WEF meeting brings world leaders and business executives together to discuss the world’s greatest policy challenges. Davos-Klosters.  

Jan. 27-30, Dubai. Arab Health. Premier healthcare event where attendees network with global leaders, discuss ground-breaking innovations and seek to shape the future of healthcare. Dubai World Trade Center. 

Jan. 27-28, Riyadh. Private markets in Saudi Arabia and GCC.  Exploring fundraising strategies, value creation and opportunities across private equity, credit and venture capital within Saudi Arabia and the broader Middle East. The Fairmont Hotel.

Jan. 27-30, Miami, Fla. iConnection Miami Alts. Networking event for fund managers and finance industry professions. Miami Beach Convention Center.

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

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

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

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

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

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

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

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

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

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

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