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.