LEGAL LABOR

Saudi Arabia has scrapped a levy on hiring foreign workers in licensed industrial facilities as part of efforts to boost non-oil sectors. Industry minister Bandar Alkhorayef said the move would cut operating costs, boost competitiveness and help manufacturers expand production, while accelerating the adoption of automation and advanced technologies. The kingdom’s industrial base has expanded rapidly, with the number of factories rising from 8,822 in 2019 to more than 12,000 by the end of 2024, while industrial investment grew 35% to about $325 billion in the same period. Fees are understood to start from SAR 300 ($80) per month per foreign employee, with that rate varying depending on the ratio of foreign workers to nationals.

EGYPT ENERGY

Israel has approved its largest-ever natural gas export deal, paving the way for supplies to Egypt from the Chevron-operated Leviathan offshore field. The agreement – signed in August but held up for the final government okay until now, will see up to $35 billion of gas exported to Egypt by 2040. Egypt has increasingly turned to Israeli gas to meet demand after abandoning ambitions to become a regional supplier, spending billions of dollars on liquefied natural gas imports. CNN reports that Israel had delayed the official approval of the deal for months, eventually signing under pressure from the Trump administration, which has been trying to arrange a summit between Israeli Prime Minister Benjamin Netanyahu and Egyptian President Abdel Fattah el-Sisi.

Alterra: The UAE’s $30 billion climate fund is investing in Copenhagen Infrastructure Partners’ Growth Markets Fund II to support large-scale renewable energy projects across 15 markets in Asia, Latin America, Europe, the Middle East and Africa.

Public Investment Fund: Warner Bros. Discovery’s board formally rejected Paramount’s $108 billion hostile takeover bid, which was backed by PIF, the Qatar Investment Authority and Abu Dhabi’s L’imad Holding Co., saying it was riskier and inferior to a competing Netflix bid backed by the board.

Public Investment Fund: Middle East e-commerce platform Noon has raised $500 million in new funding from existing backers, including the PIF, as the company moves closer to a potential IPO.

Public Investment Fund: Center3, a subsidiary of Saudi telecom STC, is creating a new joint venture with the PIF-backed HUMAIN to develop and operate AI-focused data centers in Saudi Arabia with capacity of up to 1GW.

Qatar Investment Authority: Qatar is leveraging its cheap energy and sovereign wealth to accelerate its push into artificial intelligence through the launch of Qai, aiming to catch up with regional rivals as the Gulf diversifies beyond oil, Reuters reports.

ADQ: The Abu Dhabi fund and the Gates Foundation announced a partnership in Abu Dhabi to accelerate responsible AI and education technology adoption to improve learning outcomes for children across sub-Saharan Africa.

🏦 Private Credit: Ares Management is providing a $100 million net asset value financing facility to Dubai-based Patrimium, to step up their pursuit of private credit opportunities in the Gulf region.

☀️ New Energy: UAE-based AMEA Power has commissioned a solar plant in Tunisia’s Kairouan Governorate, the country’s first large-scale privately financed renewable project..

☕ Coffee Time: Saudi-listed cafe chain Ratio Speciality Co. has partnered with Silk Solutions to invest $26.6 million in the kingdom’s coffee sector to strengthen the supply chain and expand market opportunities.

🤖 Robot Raising: Planys Technologies, a Hub71-backed deep-tech startup specialising in underwater robotics, raised about $12 million in primary funding to support its next phase of global expansion.

⛏️ On The Ground: Egypt has launched a seismic survey covering nearly 10% of its territory as part of a $5.7 billion hydrocarbon exploration programme that includes drilling 101 oil and gas wells in 2026.

🤝 New Chapter: Barclays says its return to Saudi Arabia after 11 years reflects long-term commitment and confidence in competing effectively with major U.S. investment banks as deal-making in the Gulf continues to grow.

🚁 Double Up: California-based air taxi maker Joby Aviation said it plans to double its U.S. manufacturing capacity by 2027 and wants to start commercial passenger services in Dubai by early 2026.

📈 Market Debut: Abu Dhabi-listed Phoenix Group said its minority-owned Bitzero Holdings has debuted on the Canadian Securities Exchange.

✈️ Benefits Plus: Emirates is auctioning off rare Emirates Skywards Platinum membership numbers with Platinum tier benefits valid for 20 years, with all proceeds supporting vulnerable children through 14 NGOs in nine countries.

🛢️ Regional Digging: Oilfield services provider Action Energy Company, which debuted on Kuwait’s premier stock market on Wednesday, plans to expand regionally while maintaining a strong focus on its home market.

UAE President Sheikh Mohamed bin Zayed met with Ilham Aliyev, President of Azerbaijan, on Wednesday in Abu Dhabi to discuss a new strategic partnership between the two countries. Both presidents attended the opening of Games of the Future Abu Dhabi.

Sheikh Tahnoon bin Zayed, the UAE National Security Advisor and Chairman of Abu Dhabi’s International Holding Co., met with Dr. Subrahmanyam Jaishankar,  India’s Minister of External Affairs, on Wednesday. 

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, UAE Deputy Prime Minister, Minister of Defense, and Chairman of the Board of Trustees of the Dubai Future Foundation, ordered the establishment of an integrated ecosystem to advance research, development, and innovation across Dubai.

Sheikha Latifa bint Mohammed, Chairperson of the Dubai Culture and Arts Authority, commended World Arabic Language Day.

Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Group CEO of ADNOC, held meetings with representatives of the Japan Co-operation Centre for the Middle East and chief executives of several Japanese companies during a visit to Tokyo. Al Jaber, also held high-level meetings with senior government officials and private-sector leaders in Korea.

Mostafa Madbouly, Egypt’s Prime Minister, said on Wednesday that the country expects its non-oil merchandise exports to reach up to $50 billion by the end of the year.

Narendra Modi, India’s Prime Minister, is on a working visit to Oman to discuss a comprehensive partnership between the countries. 

Meg O’Neill was appointed CEO of BP starting April 1, making her the first female CEO in any of the world’s top five major oil companies. 

Ahmed Al Murad was appointed as CEO for HSBC Kuwait, succeeding Samer Alabed.

🌴 Date Design: In the Gulf, it’s a problem nearly as old as time: what to do with the pit after eating a date? Dates are commonly offered alongside small cups of fragrant traditional coffee as a gesture of hospitality on arrival at gatherings in the region. But many business travelers to the Gulf have been left awkwardly grasping the pit wondering whether to put it back on the tray, pocket it for later disposal or break off from an important conversation to go scouting for a trash can. Saudi product designer Njoud Alghamdi, Co-founder of Muntj Studio, brought a unique solution to last month’s Dubai Design Week with “Nawat,” an elegant wooden vessel with small openings to deposit pits out of sight. “The date pit holds a very special place for us at every table,” Alghamdi told Arab News. “We hope that reflects how friendly this object is.” 

Dec. 18-23, Abu Dhabi. Games of the Future. A forum to discuss trends and investment opportunities in digital gaming. ADNEC. 

Dec. 29-30, Dubai. World Sports Summit. Athletes, investors and decision makers discuss how sports can change the face of humanity. Madinat Jumeirah Arena.

Jan. 9-11, Dubai. 1Billion Summit. A gathering of global content creators discuss the latest trends. Emirates Towers, Museum of the Future, Dubai International Financial Center.

Jan. 11-15, Abu Dhabi. Abu Dhabi Sustainability Week.  With the theme “The Nexus of Next: All Systems Go,” ADSW will connect ambition with action across innovation, finance, and people, showcasing how the world can move forward with confidence. ADNEC. 

Jan. 12-14, Dubai. Intersec. Billed as the world’s premier event for security, safety, and fire protection. Dubai World Trade Center.

Jan. 12-15, Dubai. Dubai International Project Management Forum. Bringing together global leaders, policymakers, and innovators to explore how collaboration, innovation, and sustainability can unite diverse communities. Madinat Jumeirah.

Jan. 13-15, Riyadh. Future Minerals Forum. The conference aims to hold conversations among governments, investors, and innovators to secure the minerals essential for a sustainable, tech-enabled future. King AbdelAziz International Conference Center.

Jan. 13-15, Abu Dhabi. World Future Energy Summit. The annual event brings in policy makers and industry leaders to discuss the challenges of working towards net zero. ADNEC. 

Jan. 18-21, Riyadh. Big5 Construct Saudi. Latest trends and opportunities among construction companies operating in KSA. Riyadh Front Exhibition & Conference Center located at ROSHN Front.

Jan. 20-21, Dubai. 2026 BAFT MENA Forum. The event brings the region’s senior executives, influencers and industry experts to explore the forces redefining MENA’s financial ecosystem. Embassy Suites by Hilton Dubai Business Bay.

Jan. 20-22, Abu Dhabi. UMEX 2026. The Unmanned Systems Exhibitions and Conference  showcases the latest advances in autonomous systems, robotics, artificial intelligence, and training simulation. ADNEC.

Jan. 26-28, Riyadh. Saudi Franchise Expo. The exhibition brings local and international businesses who want to create franchising companies into the kingdom.The Arena Riyadh Venue for Exhibitions, Riyadh.

Feb. 1-4, Doha. Web Summit Qatar. Connecting a new generation of founders in the Middle East to investors, journalists and more around the world. Doha Exhibition and Convention Center.

Feb. 2-5, Doha. LNG2026. The 21st International Conference & Exhibition on Liquefied Natural Gas. Qatar National Convention Center. 

MISSED DELIVERY

The Saudi PIF-backed ghost kitchen startup run by former Uber CEO Travis Kalanick has shelved plans to list its Middle Eastern business and is instead weighing alternatives such as a private placement. The company had been considering a dual listing in Abu Dhabi and Saudi Arabia as early as 2026, targeting a valuation of about $2 billion, but any flotation could now be revisited only after a private deal, with no set timetable, Bloomberg reports. The rethink comes as the Gulf’s IPO market cools sharply, with tougher investor valuation demands and Saudi stocks under pressure from lower oil prices and concerns over public spending. CloudKitchens operates by renting kitchen space to restaurants and adds services like delivery coordination and maintenance.

PLASTIC FREE

The UAE is preparing to impose a ban on most single-use plastics widely used in the food delivery industry, under a major push to reduce pollution. From Jan. 1 it will be illegal to import, manufacture or trade a range of single-use plastic items, including cutlery, straws, beverage cups and lids, plates and food containers, including those made from styrofoam, The National reports. The Ministry of Climate Change and Environment sent a reminder on Tuesday urging all businesses to comply with the laws, which were previously announced. Rules around single-use plastic bags, which were banned in Abu Dhabi in 2022 and UAE-wide in 2024, will also be tightened. Studies have previously found that nine out of 10 turtles and five out of 10 camels found dead in the UAE had plastic in their stomachs.

International Holding Co.: 2Point Zero Group, a subsidiary of IHC, has fully acquired Cairo-based digital-first financial services company Maseera, after acquiring the outstanding 5% stake.

Mubadala: The Abu Dhabi sovereign wealth fund said on Wednesday it has closed the acquisition of Service Logic, a North Carolina-based heating and cooling services company functioning in partnership with Bain Capital.

Mubadala Capital: The asset management arm of Mubadala held its annual general meeting in Abu Dhabi, bringing investors, partners, and colleagues from across the globe for a weeklong retreat. 

Qatar Investment Fund: Soccer club Paris Saint-Germain, owned by Qatar Sports Investments, the sports arm of the QIA, has been ordered to pay former star striker Kylian Mbappé around 60 million euros ($70.6 million) in unpaid wages and bonuses by a labor court in Paris. 

Masdar: Abu Dhabi’s green energy company has withdrawn from the investor consortium that planned to take Indian clean energy company ReNew Energy Global private, Arabian Gulf Business Insight reports. The four-member consortium, led by Masdar, already controls almost two-thirds of ReNew.

Public Investment Fund: John Pagano, the Group CEO of Red Sea Global, was appointed Managing Director of AlUla Development Company, a fellow PIF company. He will continue his role at Red Sea Global.

🛢️ Asset Hunt: Saudi Arabia’s Midad Energy is among the frontrunners to buy $22 billion in global assets from Lukoil, amid sweeping U.S. sanctions against Russian oil companies, Reuters reports.

💰 Quant Bet: KKR is investing $220 million in Premialab, a Dubai-based provider of data, analytics and risk tools for quantitative investing, marking the private equity giant’s first growth-stage technology deal in the Middle East.

⚽ Stadium Surge: SGTM, one of Morocco’s biggest construction firms, jumped in its stock-market debut after raising $548 million to help build a flagship World Cup 2030 stadium. The country, meanwhile, secured $316 million in financing from the African Development Bank to upgrade its airports.

✈️ Airport Expansion: Syria is planning a five-year overhaul of its aviation sector centered on governance reforms, airspace redesign and a $31 million expansion of Damascus airport that would boost passenger capacity from 1.2 million to 31 million.

🌐 Cloud Core: Echo, an Israeli developer of an AI cloud operating system, raised $35 million in a Series A round led by the N47 Fund.

🤝 Partners Needed: Emirates Global Aluminum is seeking equity partners, including Mitsubishi Corp., for its planned $6 billion aluminum smelter in Oklahoma, Bloomberg reports.

🌀 Water Drive: Oman unveiled a $29 billion national investment plan for water infrastructure, targeting supply resilience, sustainable urban growth and economic diversification.

🛢️ Drilling Push: Egypt plans to drill 480 new oil and gas wells under a $5.7 billion exploration program, aiming to boost production and reach crude oil self-sufficiency within five years.

🏭 Clean Power: The UAE expects clean energy capacity to exceed 22GW by 2031, about 35% of baseload power, as it accelerates renewables, partly to meet rising data centre demand.

🚗 Cars Loans: J.P. Morgan Private Bank has launched a new lending business, allowing eligible collectors to borrow against classic, rare, or custom cars, a growing investment niche in the Gulf. 

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister, Chairman of the Presidential Court, chaired the Central Bank of the UAE’s board meeting, which was held on Tuesday at Qasr Al Watan palace in Abu Dhabi.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, UAE Deputy Prime Minister, Minister of Defense, and Chairman of The Executive Council of Dubai, met on Tuesday with more than 200 local dignitaries and families from Dubai’s Deira neighbourhood as part of the newly launched “Dubai Lunch” initiative, following an invitation from Emirati businessman Mohammed Juma Al Naboodah.

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, held a phone call with his Malaysian counterpart Mohamad Hasan on Tuesday.

Jared Kushner has emerged at the center of both high-profile diplomacy and dealmaking, spanning Israel–Hamas talks, Ukraine discussions and major corporate transactions, Bloomberg reports. Meanwhile, Kushner’s Affinity Partners is reported to be pulling out of Paramount Skydance’s bid for Warner Bros. Discovery. The hostile bid, backed by three Gulf sovereign funds, is expected to be rejected by Warner Bros. over concerns about financing and other terms.

Morten Wierod, President and Group Chief Executive of ABB, the global engineering company, told The National in an interview in Dubai that they expect strong growth in data center construction across the UAE and Saudi Arabia as it develops next-generation infrastructure through a partnership with U.S. chipmaker Nvidia.

Alaa AlMashhadi was appointed as Saudi Arabia Country Manager of The Bank of New York Mellon Corp., or BNY, and promoted to Managing Director.

Dr. Mohammed bin Abdulkarim Al-Issa, the Secretary-General of the Muslim World League and Chairman of the Organization of Muslim Scholars, met with UN Secretary-General Antonio Guterres.

Ousmane Dembele, a soccer star for the Qatari-owned Paris Saint-Germain club, won the men’s FIFA Best award at a ceremony in Qatar on Tuesday.

🎨 Doha Diary: Art Basel Qatar has revealed more details ahead of its inaugural event in February, with a first look at the Galleries sector and Special Projects program. The art fair will stage nine large-scale commissions across public spaces and cultural venues in Msheireb Downtown Doha, alongside exhibitions at 87 galleries, Arab News reports. Highlights include Indian video artist Nalini Malani’s monumental outdoor projection on the façade of M7 and U.S. multimedia artist Bruce Nauman’s immersive 3D video installation at the same venue. Art Basel Qatar runs from Feb. 5-7.

Dec. 18-23, Abu Dhabi. Games of the Future. A forum to discuss trends and investment opportunities in digital gaming. ADNEC. 

Dec. 29-30, Dubai. World Sports Summit. Athletes, investors and decision makers discuss how sports can change the face of humanity. Madinat Jumeirah Arena.

Jan. 9-11, Dubai. 1Billion Summit. A gathering of global content creators discuss the latest trends. Emirates Towers, Museum of the Future, Dubai International Financial Center.

Jan. 11-15, Abu Dhabi. Abu Dhabi Sustainability Week.  With the theme “The Nexus of Next: All Systems Go,” ADSW will connect ambition with action across innovation, finance, and people, showcasing how the world can move forward with confidence. ADNEC. 

Jan. 12-14, Dubai. Intersec. Billed as the world’s premier event for security, safety, and fire protection. Dubai World Trade Center.

Jan. 12-15, Dubai. Dubai International Project Management Forum. Bringing together global leaders, policymakers, and innovators to explore how collaboration, innovation, and sustainability can unite diverse communities. Madinat Jumeirah.

Jan. 13-15, Riyadh. Future Minerals Forum. The conference aims to hold conversations among governments, investors, and innovators to secure the minerals essential for a sustainable, tech-enabled future. King AbdelAziz International Conference Center.

Jan. 13-15, Abu Dhabi. World Future Energy Summit. The annual event brings in policy makers and industry leaders to discuss the challenges of working towards net zero. ADNEC. 

Jan. 18-21, Riyadh. Big5 Construct Saudi. Latest trends and opportunities among construction companies operating in KSA. Riyadh Front Exhibition & Conference Center located at ROSHN Front.

Jan. 20-21, Dubai. 2026 BAFT MENA Forum. The event brings the region’s senior executives, influencers and industry experts to explore the forces redefining MENA’s financial ecosystem. Embassy Suites by Hilton Dubai Business Bay.

Jan. 20-22, Abu Dhabi. UMEX 2026. The Unmanned Systems Exhibitions and Conference  showcases the latest advances in autonomous systems, robotics, artificial intelligence, and training simulation. ADNEC.

Jan. 26-28, Riyadh. Saudi Franchise Expo. The exhibition brings local and international businesses who want to create franchising companies into the kingdom.The Arena Riyadh Venue for Exhibitions, Riyadh.

Feb. 1-4, Doha. Web Summit Qatar. Connecting a new generation of founders in the Middle East to investors, journalists and more around the world. Doha Exhibition and Convention Center.

Feb. 2-5, Doha. LNG2026. The 21st International Conference & Exhibition on Liquefied Natural Gas. Qatar National Convention Center. 

AIR DEALS

Flydubai has signed up for 150 Airbus A321 Neo jets at the Dubai Airshow, marking its first Airbus order and a shift from its all-Boeing fleet. The company will use the planes to diversify its fleet and strengthen its long-term expansion plans, Sheikh Ahmed bin Saeed, Chairman of Flydubai and CEO and Chairman of Emirates, told reporters at the airshow on Tuesday.  Abu Dhabi carrier Etihad Airways placed an order for 32 wide-body aircraft from Airbus, including six A330 Neos, for delivery between 2028 and 2029. Etihad also agreed to lease nine A330-900s from Avalon beginning in 2027 to support its long-haul expansion. Meanwhile, Emirates President Tim Clark said he will hold off on ordering Airbus A350-1000 jets until engine durability and performance improve.

KING OF THE CASTLE

Mohamed Alabbar, founder of Dubai’s Emaar Properties, has purchased a 12th-century castle in the central Italian region of Umbria for $55 million and is planning to spend another $145 million turning it into “one of the most prestigious resorts in the world.” The developer behind the world’s tallest skyscraper, the Burj Khalifa, told Bloomberg the project at Castello di Antognolla would include a hotel, wellness and longevity center, luxury homes and a polo club and would hold fashion shows and competitions for chefs, truffles and wine. Alabbar has been increasing his international exposure and has already partnered with U.S. President Donald Trump’s son-in-law Jared Kushner to build Trump Tower Belgrade through his other company, Abu Dhabi-based Eagle Hills Properties. The extended property boom in Dubai and Abu Dhabi has seen many of the UAE’s cash-rich developers snapping up property in Europe and elsewhere to expand their glitzy brands overseas.

Public Investment Fund: The Hong Kong Monetary Committee started a $1 billion fund with the PIF to help Hong Kong and Greater Bay Area companies expand into Saudi Arabia, Bloomberg reports.

King Salman Park Foundation: The Saudi state-owned developer launched a $1 billion investment fund with Ajdan Real Estate and SEDCO Capital to develop homes, hotels, and offices in the massive park project, providing the land outside Riyadh while its private partners finance construction.

Qatar Investment Authority: San Francisco-based software firm Databricks, which is backed by the QIA, is seeking to raise funds at a valuation of $130 million, The Information reports.

💲 Mixed Developments: Saudi Arabia’s National Housing Company has signed two agreements worth $2.3 billion with Egypt’s Hassan Allam Holding and local developer Tilal Real Estate to develop mixed-use projects.

💉 HealthCare Funding: Aster DM Healthcare has secured $72 million from Emirates Development Bank to build two new Dubai hospitals.

🛢️ Oil Delivery: Saudi Arabia has delivered the first shipment of its 1.65-million-barrel crude oil grant to Syria under an agreement to support the country’s energy sector.

🚧 Road Work: Abu Dhabi Fund for Development has inaugurated the $23.6 million West Coast Road project in Mahé, Seychelles.

🌀 Cable Delay: Google and Meta have delayed parts of their planned Red Sea subsea internet cable projects, citing heightened security risks and political tensions in the region.

🪖 UN Force: The U.N. Security Council voted to adopt a U.S.-drafted resolution that would back Trump’s Gaza plan and authorize a stabilization force under a transitional Board of Peace.

🚁 Startup Contractors: The Pentagon’s shift toward buying weapons from startups has boosted prospects for electric air taxi makers Joby Aviation and Archer Aviation – both active in UAE ventures – to secure U.S. defense contracts, The Information reports.

☀️ Solar Tender: Kuwait invited bids for a 0.5-gigawatt solar project under its public-private partnership framework, part of its effort to address growing power shortages.

🕋 Mecca Investment: Saudi developer Arabian Dyar is seeking foreign buyers for 1,000 units in phase two of its $2.6 billion Dyar Al Haram project in Mecca ahead of next year’s new real estate law opening the market to international investors.

UAE President Sheikh Mohamed bin Zayed, met with Lee Jae-myung, President of South Korea at Qasr Al Watan palace in Abu Dhabi on Tuesday. The Korean President was escorted by Sheikh Theyab bin Mohamed, Deputy Chairman of the Presidential Court for Development and Fallen Heroes’ Affairs, on a visit to the Wahat Al Karama war memorial in Abu Dhabi on Monday.

UAE President Sheikh Mohamed bin Zayed, and Sheikh Tahnoon bin Zayed, the UAE National Security Advisor, met with Turki Al Sheikh, Chairman of Saudi Arabia’s General Entertainment Authority.

Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai, met with Stephanie Pope, Executive Vice President of The Boeing Company and President and CEO of Boeing Commercial Airplanes.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, toured several pavilions at Dubai Airshow 2025 on Monday. Sheikh Khaled met with Gérald Darmanin, French Minister of Justice on Tuesday.

Prince Yazid bin Farhan, Saudi Arabia’s envoy to Lebanon, led a delegation to Beirut on Monday, ahead of the Beirut One Conference which starts today, as the two countries consider ways to renew economic ties. Noura Al Kaabi, UAE Minister of State, is also in Beirut to attend the conference.

Khalfan Belhoul, CEO of the Dubai Future Foundation, used his opening speech at the Dubai Future Summit in Dubai to propose a new measure of national progress based on cognitive potential. “How do we protect deep focus and make it visible so that it’s valuable?” he said.

Saeed Ghumran Al Remeithi, Group CEO of Emsteel, called for collective industry action to strengthen competitiveness, navigate global trade challenges and accelerate decarbonization across the steel value chain. 

Michel Issa, the newly appointed U.S. Ambassador to Lebanon, traveled to Beirut on Monday to present his credentials to President Joseph Aoun.

Ahmed Saeed Al Qamzi, Ibraheem Al Sayed Mohamed Al Hashemi, Fatma Al Jabri and Saif Al Dhaheri were appointed as Assistant Governors at the Central Bank UAE. 

Michele Faissola, a senior executive of the former Qatari ruler Sheikh Hamad bin Khalifa Al Thani’s family office Dilmon, has relocated his residence from the U.K. to Italy, Bloomberg reports.

🎨 Last Orders: Abu Dhabi Art, one of the region’s most prominent art fairs, kicks off at Manarat Al Saadiyat tomorrow for its final outing before it relaunches as Frieze Abu Dhabi next year. The fair’s 17th and final edition in its current format brings more than 140 galleries representing 37 countries, with three special “Focus” sections highlighting artists from Turkey, Nigeria and the Gulf. Next year the fair will meld with Frieze, the organization behind some of the world’s biggest modern and contemporary art events, shifting its focus to curatorial excellence, emerging artists and large-scale installations.

Nov. 17-19. Doha. Qatar Entrepreneurship Conference (ROWAD). Qatar’s national entrepreneurship platform and a flagship Global Entrepreneurship Week event, connecting startups, SMEs, and ecosystem leaders. Doha Exhibition & Convention Center.

Nov. 17-21, Dubai. Dubai Airshow 2025. The biennial exhibition attracts aerospace companies from around the world to the UAE. DWC, Al Maktoum International Airport.

Nov. 18-19, Dubai. Dubai Future Forum. Drawing on the collective intelligence of global thinkers, futurists, and visionaries to explore what lies ahead and how we might navigate it with purpose and imagination. Museum of the Future.

Nov. 19-20, Dubai. Knowledge Summit. A global platform for knowledge production in the service of sustainable development. Dubai World Trade Center. 

Nov. 19-23, Abu Dhabi. Abu Dhabi Art. One of the region’s biggest art fairs marks its 17th and final year before it relaunches as Frieze Abu Dhabi next year. Manarat Al Saadiyat.

Nov. 24-27, Dubai. Big 5 Global. Addressing the challenges shaping the construction and urban development community today and tomorrow. Dubai World Trade Center.

Nov. 25-26. Riyadh. Global Sustainability Expo. Dedicated to advancing sustainability practices across industries. The Arena Riyadh.

Nov. 26-27, Abu Dhabi. CyberQ 2025. The UAE’s flagship summit for cybersecurity and quantum technologies. ADNEC Center.

Dec. 1-2, UAE. UAE National Day. A two-day public holiday to celebrate the UAE’s 54th National Day, also known as Eid Al Etihad. 

Dec. 4-5, Abu Dhabi. Milken Institute Middle East and Africa Summit. Investors, corporate executives and policymakers gather to discuss prospects for investment in the region. St. Regis Saadiyat Island. 

Dec. 7, Abu Dhabi. F1 Abu Dhabi Grand Prix 2025. The F1 season finale and one of the most hotly anticipated races in motorsport. Yas Marina Circuit. 

Dec. 8-9, Riyadh. Hydrogen Arabia Summit & Exhibition. The inaugural event is aimed at positioning the Kingdom as a hub for hydrogen and clean energy collaboration. Crowne Plaza Riyadh RDC.

Dec. 8-9, Abu Dhabi. Bitcoin MENA 2025. An event dedicated to advancing Bitcoin and blockchain understanding and adoption. ADNEC Center.

Dec. 8-10, Abu Dhabi. BRIDGE Summit. Bringing together media executives, innovators, academia and NGOs, policymakers, and thought leaders to redefine the media landscape. ADNEC Center.

Dec. 8-11, Abu Dhabi. Abu Dhabi Finance Week. The largest financial event in the region, brings together the world’s top minds to redefine and shape the future of global markets. The Grand Steps, Al Maryah Island.

DUBAI AIRSHOW

Emirates set the tone on Day 1 of the Dubai Airshow with a $38 billion order for 65 Boeing 777-9s, offering the aircraft giant a timely reprieve as it works to steady the long-delayed 777X program. Sheikh Ahmed bin Saeed, Chairman and CEO of Emirates Airline group, said at a press conference that the order is a “massive long-term commitment” to U.S. aerospace manufacturing. The airline will also roll out SpaceX’s Starlink across its fleet, with the first flight to offer the boosted Wi-Fi service on Nov. 23. Despite Boeing’s early lead, the bulk of the orders from one of the world’s biggest airshows is expected to be won by Airbus. The European planemaker is closing in on a deal to supply about 100 A321neos to Flydubai, a shift that would challenge Boeing’s long-standing dominance at the low-cost carrier. 

PINCHING PAY

Saudi Arabia is scaling back the generous salary premiums it once offered to foreign professionals in a bid to rein in costs and realign priorities under its Vision 2030 national economic strategy plan. Fiscal pressure from lower oil revenues is reinforcing the drive toward more measured packages for project managers and engineers, which often include both salary and housing stipends, Reuters reports. The move comes as the kingdom’s Public Investment Fund is pivoting away from costly megaprojects toward sectors like AI, logistics, and mining. Recruiters say offers adding 40% or even double pay are now rare, and compensation is being anchored more closely to market benchmarks and performance.

Abu Dhabi Investment Authority: The sovereign wealth fund is considering selling part of its 10% stake in Qatari telecom company Ooredoo QPSC, aiming to raise as much as $600 million, Bloomberg reports.

International Holding Co.: Samia Bouazza, the newly appointed Group CEO of 2PointZero Group, told The National that the company is working on creating the largest listed investment platform that powers the everyday life of consumers over the next decade.

Public Investment Fund: Saudi Arabia’s Qiddiya City will open the first Six Flags park outside North America at the end of this year, featuring the world’s tallest, longest and fastest roller coaster.

G42: Microsoft and G42 plan a 200-megawatt expansion of datacenter capacity in the UAE, delivered through Khazna Data Centers, a subsidiary of G42. 

🌴 Token Resort: The Trump Organization, run by U.S. President Donald Trump’s family, plans to build a luxury resort in the Maldives with Saudi developer Dar Global, and for the first time will “tokenize” the hotel-development project via blockchain, Bloomberg reports.

💸 Financial Expansion: Saudi brokerage platform Derayah Financial Company secured a $133 million Islamic compliant loan with Saudi National Bank to fuel its expansion. 

💂 London Calling: Sharjah developer Arada acquired an 80% stake in the $3.3 billion Thameside West waterfront development in London’s Royal Docks for $428 million.

✈️ Airways Facility: GE Aerospace will begin building a new $50 million facility at Dubai South’s Mohammed Bin Rashid Aerospace Hub next month.

🏠 Housing Demand: Real estate transactions in Abu Dhabi nearly doubled to $26 billion in the first nine months of 2025.

🗞️ Broadsheet Bust: U.S.-based private investment firm RedBird Capital Partners pulled out of a $671-million bid for Britain’s Telegraph Media Group, ending months of negotiations after an initial bid from Abu Dhabi-backed RedBird-IMI was blocked by the U.K. government.

📈 Peace Dividend: Israel’s economy surged in the third quarter of 2025 with annualized GDP growth of 12.4%, driven by a sharp rebound in consumer spending, exports, and investment after a war-disrupted second.

UAE President Sheikh Mohamed bin Zayed and Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, toured Dubai Airshow on Monday.

The UAE President will hold talks with South Korea’s President Lee Jae Myung, who is visiting the UAE today.

Emir of Qatar Sheikh Tamim met with Subrahmanyam Jaishankar, India’s Foreign Minister, at the Amiri Diwan in Doha on Sunday.Sheikh Mansoor bin Mohammed, Chairman of the Dubai Sports Council, crowned English golfer Matt Fitzpatrick as the champion of the DP World Tour Championship and also starred Northern Irish golfer Rory McIlroy with the Race to Dubai title for the seventh time in his career.

Saleh bin Nasser Al-Jasser, Saudi Minister of Transport and Logistic Services, inaugurated the new $163 million Agility Logistics Complex in Jeddah on Sunday.

Mohamed bin Mubarak, UAE Minister of State for Defense Affairs, opened the 12th edition of the Dubai International Air Chiefs Conference on Sunday in Dubai. 

Steven Greenway, CEO of Flyadeal, told Arabian Gulf Business Insights that delays from Airbus for the delivery of A321neo jets will force the company to use its existing fleet more than planned.

Yasir Al Rumayyan, Governor of Saudi Arabia’s Public Investment Fund, along with Yoshinori Kanehana, Chairman of Kawasaki Heavy Industries, Takeshi Hashimoto, President and CEO of Mitsui O.S.K. Lines, Karl Deppen, CEO of Mitsubishi Fuso Truck and Bus Corporation, and Gene Berdichevsky, co-founder and CEO of U.S. battery tech company Sila, will be among the participants in FII Priority Asia, to be held Nov. 30 -Dec.1.

🐪 Eye in the Sky: Traditional camel herding could be about to get a high-tech upgrade, after a research team from Saudi Arabia created an AI-powered drone system that can track livestock from the air, Arab News reports. Scientists at the King Abdullah University of Science and Technology developed the low-cost system using commercially available drones and cameras to enable camel herders to track their animals in real time and also capture data on migration patterns and habitats for researchers. Camels roam up to 50 kilometers a day through desert terrain, making tracking them a challenging job.

Nov. 17-19. Doha. Qatar Entrepreneurship Conference (ROWAD). Qatar’s national entrepreneurship platform and a flagship Global Entrepreneurship Week event, connecting startups, SMEs, and ecosystem leaders. Doha Exhibition & Convention Center.

Nov. 17-21, Dubai. Dubai Airshow 2025. The biennial exhibition attracts aerospace companies from around the world to the UAE. DWC, Al Maktoum International Airport.

Nov. 18-19, Dubai. Dubai Future Forum. Drawing on the collective intelligence of global thinkers, futurists, and visionaries to explore what lies ahead and how we might navigate it with purpose and imagination. Museum of the Future.

Nov. 19-20, Dubai. Knowledge Summit. A global platform for knowledge production in the service of sustainable development. Dubai World Trade Center. 

Nov. 24-27, Dubai. Big 5 Global. Addressing the challenges shaping the construction and urban development community today and tomorrow. Dubai World Trade Center.

Nov. 25-26. Riyadh. Global Sustainability Expo. Dedicated to advancing sustainability practices across industries. The Arena Riyadh.

Nov. 26-27, Abu Dhabi. CyberQ 2025. The UAE’s flagship summit for cybersecurity and quantum technologies. ADNEC Center.

Dec. 1-2, UAE. UAE National Day. A two-day public holiday to celebrate the UAE’s 54th National Day, also known as Eid Al Etihad. 

Dec. 4-5, Abu Dhabi. Milken Institute Middle East and Africa Summit. Investors, corporate executives and policymakers gather to discuss prospects for investment in the region. St. Regis Saadiyat Island. 

Dec. 7, Abu Dhabi. F1 Abu Dhabi Grand Prix 2025. The F1 season finale and one of the most hotly anticipated races in motorsport. Yas Marina Circuit. 

Dec. 8-9, Riyadh. Hydrogen Arabia Summit & Exhibition. The inaugural event is aimed at positioning the Kingdom as a hub for hydrogen and clean energy collaboration. Crowne Plaza Riyadh RDC.

Dec. 8-9, Abu Dhabi. Bitcoin MENA 2025. An event dedicated to advancing Bitcoin and blockchain understanding and adoption. ADNEC Center.

Dec. 8-10, Abu Dhabi. BRIDGE Summit. Bringing together media executives, innovators, academia and NGOs, policymakers, and thought leaders to redefine the media landscape. ADNEC Center.

Dec. 8-11, Abu Dhabi. Abu Dhabi Finance Week. The largest financial event in the region, brings together the world’s top minds to redefine and shape the future of global markets. The Grand Steps, Al Maryah Island.

STEALTH SCRUTINY

A Pentagon intelligence report warns that approving the F‑35 stealth-fighter sale to Saudi Arabia could compromise U.S. technological secrets, potentially allowing exposure of advanced capabilities to China. The U.S. under Donald Trump is assessing the kingdom’s request for up to 48 F-35s, a move that would reshape the military balance in the Middle East and challenge Israel’s qualitative military edge, The New York Times reports. If approved, Saudi Arabia would become only the second Middle Eastern country after Israel to operate F-35s. While the deal has cleared a key Pentagon hurdle, it still requires full approval from the White House, Cabinet and Congress, and carries risks of human-rights scrutiny and strategic backlash.

NEOBANK BILLIONS

UAE digital bank Wio is more than halfway to its goal of reaching 100 billion dirhams ($27 billion) in assets, just three years after it launched.  “The objective would be to get there in two to three years max,” Wio CEO Jayesh Patel told The National. With backing from Abu Dhabi sovereign wealth fund ADQ, telecoms company e&, First Abu Dhabi Bank and investment company Alpha Dhabi, Wio is now one of the fastest growing banks in the region. Just seven UAE banks have more than Dh100 billion in assets, which is regarded as the industry gateway to being considered a “big” lender in the UAE. FAB, the country’s biggest lender, has more than $1.3 trillion. The company will soon face competition from London-based fellow “neobanks” Revolut and Wise, which have both secured approvals to operate in the UAE in recent months.

ADNOC: Abu Dhabi’s state-owned oil firm received conditional approval from the EU for its $17 billion acquisition of German chemicals giant Covestro, the European Commission announced  on Friday.

Public Investment Fund: Saudi Arabia’s Midad Real Estate, PIF-owned Jeddah Central Development Co., and Kerzner International launched a $2 billion joint venture to bring the Atlantis and One&Only resort brands to the kingdom.

Qatar Investment Authority: The QIA joined a $275 million Series C funding round for California-based generative AI company d-Matrix, which valued the company at $2 billion.

International Holding Co.: Multiply Group, an investment unit of Abu Dhabi-owned IHC, launched Innovation Labs, which it said will drive digital growth and AI-led value creation.

💰 Capital Takeover: Investcorp Capital, the Abu Dhabi-listed alternative investments company, has acquired U.S.-based Kanawha Scales & Systems.

🛡️ Insurance Entry: UAE-based digital insurer Shory received authorization to operate in Saudi Arabia, bolstering its regional expansion strategy..

💻 Slack Upgrade: Salesforce has acquired Israeli startup Doti AI, founded by former Wix engineers, for about $100 million to integrate its artificial intelligence tools into Slack.

🤝 Trade Revival: Saudi Arabia plans to strengthen commercial relations with Lebanon imminently after progress in curbing drug smuggling, Reuters reports.

⚽ Target Venue: A unit of Saudi Arabia’s National Development Fund will establish a premium shooting sports complex in Qiddiya City.

💵 Relocating Staff: JPMorgan Chase is expanding its operations in Dubai as part of a broad push to serve medium-sized businesses in the Middle East, moving banker Tushar Arora to the UAE from London, Reuters reports.

🛰 Autonomous Flight: LODD Autonomous conducted the first test flight of Hili, a hybrid heavy-lift cargo aircraft designed, built and manufactured entirely in Abu Dhabi on Thursday.

✈️ Stay Home: Oman Air said on Thursday that it has temporarily grounded some aircrafts and adjusted flight schedules amid supply chain delays.

UAE President Sheikh Mohamed bin Zayed met with Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai, in the presence of  Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court and other dignitaries on Thursday. The UAE President will meet with Lee Jae Myung, President of South Korea, during his visit to the UAE on Monday. 

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, held a telephone call with Rashid Meredov, Minister of Foreign Affairs and Deputy Prime Minister of Turkmenistan.

Sheikh Mohammed bin Abdulrahman Al-Thani, Qatar’s Prime Minister, held a phone call with Iranian Foreign Minister Abbas Araghchi on Thursday.

Sheikha Latifa bint Mohammed, Chairperson of Dubai Culture and Arts Authority, met with Sheikh Khalifa bin Ahmed, President of the Bahrain Authority for Culture and Antiquities, on the sidelines of the 27th General Conference of the International Council of Museums.

Lawrence Stroll, Executive Chairman of Aston Martin, is in early discussion with the Saudi Public Investment Fund, to take the struggling U.K. luxury-car maker private, The Financial Times reports. The PIF already holds a 17%  stake in Aston Martin.

Jochen Thewes was appointed CEO of the AD Ports’ Logistics Cluster starting Dec.1 of this year.

Hamad Al Marar, Managing Director and Chief Executive of Edge, told The National that due to the ongoing wars, there has become a higher urgency in delivering defense solutions to overseas customers which is why they are moving faster to meet the demand.

Brooke Bellamy, the Australian businesswoman behind Brooki Bakehouse, spoke to The National about the bakery’s viral fame and plans to open in Dubai early next year following a $16 million investment from Sharjah developer Arada.

Sean Baker, the Academy Award-winning filmmaker, will head the features jury for Saudi Arabia’s Red Sea International Film Festival.

🐪 Desert Trek: British explorer Rosie Stancer is preparing to begin a three-month camel expedition across Saudi Arabia, following the ancient incense-trading route from south to north. Stancer and her team will start in Najran and traverse the Empty Quarter, the Nafud deserts and the Sarawat mountain range, exploring the impacts of climate changes and how local communities are adapting. The team includes Saudi explorer Princess Abeer Al-Saud, the kingdom’s representative on the expedition. “We’re also going to invite other Saudi women from the points we are going through to join our journey,” Stancer told Arab News.

Nov. 5-16, Sharjah, UAE. Sharjah International Book Fair. A 12-day cultural and literary event attracting global publishers and literary stars. Expo Center Sharjah.  

Nov. 17-19. Doha. Qatar Entrepreneurship Conference (ROWAD). Qatar’s national entrepreneurship platform and a flagship Global Entrepreneurship Week event, connecting startups, SMEs, and ecosystem leaders. Doha Exhibition & Convention Center.

Nov. 17-21, Dubai. Dubai Airshow 2025. The biennial exhibition attracts aerospace companies from around the world to the UAE. DWC, Al Maktoum International Airport.

Nov. 18- 19, Dubai. Dubai Future Forum. Drawing on the collective intelligence of global thinkers, futurists, and visionaries to explore what lies ahead and how we might navigate it with purpose and imagination. Museum of the Future.

Nov. 19-20, Dubai. Knowledge Summit. A global platform for knowledge production in the service of sustainable development. Dubai World Trade Center. 

Nov. 24-27, Dubai. Big 5 Global. Addressing the challenges shaping the construction and urban development community today and tomorrow. Dubai World Trade Center.

Nov. 25-26. Riyadh. Global Sustainability Expo. Dedicated to advancing sustainability practices across industries. The Arena Riyadh.

Nov. 26-27, Abu Dhabi. CyberQ 2025. The UAE’s flagship summit for cybersecurity and quantum technologies. ADNEC Center.

Dec. 4-5, Abu Dhabi. Milken Institute Middle East and Africa Summit. Investors, corporate executives and policymakers gather to discuss prospects for investment in the region. St. Regis Saadiyat Island. 

Dec. 7, Abu Dhabi. F1 Abu Dhabi Grand Prix 2025. The F1 season finale and one of the most hotly anticipated races in motorsport. Yas Marina Circuit. 

Dec. 8-9, Riyadh. Hydrogen Arabia Summit & Exhibition. The inaugural event is aimed at positioning the Kingdom as a hub for hydrogen and clean energy collaboration. Crowne Plaza Riyadh RDC.

Dec. 8-9, Abu Dhabi. Bitcoin MENA 2025. An event dedicated to advancing Bitcoin and blockchain understanding and adoption. ADNEC Center.

Dec. 8-10, Abu Dhabi. BRIDGE Summit. Bringing together media executives, innovators, academia and NGOs, policymakers, and thought leaders to redefine the media landscape. ADNEC Center.

Dec. 8-11, Abu Dhabi. Abu Dhabi Finance Week. The largest financial event in the region, brings together the world’s top minds to redefine and shape the future of global markets. The Grand Steps, Al Maryah Island.

ADIA, the Public Investment Fund and other Gulf sovereign wealth funds are finding it easier to attract and retain personnel as they are increasingly seen as influential dealmakers, data provider Global SWF reports. The PIF employs close to 2,000 people in Riyadh with plans to grow in the U.S., London and Asia, a survey by the firm notes. Despite a reduction in backoffice staff recently,  ADIA has been on a hiring computer experts and quants to set up an in-house “science lab,”  the report says.

Qatar Airways plans to acquire a 25% stake in Australia’s Virgin Australia Airlines from Bain Capital. Terms of the deal were not disclosed.

↪↩ Closing Circuit

👥 Energy Partners: ADNOC Drilling Co. has formed a joint venture with Schlumberger and Patterson-UTI called Turnwell to accelerate its $1.7 billion program in so-called unconventional oil and gas well exploration. ADNOC Drilling will hold a 55% stake in Turnwell.

💰 Metal Makers: Emirates Global Aluminium, the world’s largest producer of premium aluminum, announced the acquisition of a majority stake in the American aluminum recycling company, Spectro Alloys Corp. Terms were not disclosed.

🚰 Water Supply: Bahrain’s Deputy Prime Minister Sheikh Khalid bin Abdullah, inaugurated an $85 million electricity and water distribution station at the Al Hidd Housing Project.

🏢 Small Business: Emirates Development Bank and Abu Dhabi Islamic Bank will work together to support small and medium-sized businesses, or SMEs, through a joint finance guarantee program, with EDB providing 50% of financing for selected sectors including manufacturing, healthcare, and renewables.

⛽ Gas Project: Chinese contractor Jereh Oil & Gas Engineering secured a $316 million contract to provide engineering, procurement, construction, and commissioning services for Bahrain Petroleum Co., focusing on gas facilities in southern Bahrain.

Circuit Chatter

🛍️ Retail Therapy: Qatar is rapidly becoming a top retail destination in the MENA region, leveraging its $330 billion infrastructure investments from the 2022 FIFA World Cup, with new stores, malls and tourist attractions such as the $5.5 billion Simaisma Project, according to London-based consulting firm Knight Frank.

ℹ️ Tourist Attraction: Saudi Arabia generated a 656% rise in international tourists who came to the kingdom for entertainment and holidays in the first seven months of 2024, according to the Ministry of Tourism.

🛩️  Arrivals Terminal: Dubai International Airport raised its 2024 passenger forecast to 93 million, up from 91.8 million, noting that the increase comes in spite of ongoing Middle Eas tensiont.

💸 Bonds Offering: Egypt’s central bank has issued 50 billion Egyptian pounds ($1.1 billion) in treasury bills to manage liquidity and bolster government financing in response to rising inflation.

💳 New Look: aiBANK has rebranded as Bank NXT, which it describes as redefining its role in Egypt’s commercial banking  by providing timely financial solutions while investing in human capital and digital infrastructure.

🌍 Power Circuit

UAE President Sheikh Mohamed bin Zayed approved a $100 million relief package for Lebanon to support the country “through its current challenges,” according to a Presidential Court statement.

Sheikh Khalid bin Mohammed, Crown Prince of Abu Dhabi, began an official visit to Qatar on Tuesday where met with Emir SheikhTamim bin Hamad and a range of Qatari officials. Those accompanying the Prince included Mohamed Alsuwaidi, UAE Minister of Investment; Khaldoon Al Mubarak; Chairman of the Executive Affairs Authority and CEO of Mubadala Investment Co.; Mohamed Al Mubarak, Chairman of the Department of Culture and Tourism; and Saif Ghobash, Secretary General of the Abu Dhabi Executive Council.

Emir of Qatar Sheikh Tamim bin Hamad, held a phone call with Iraqi Prime Minister Mohammed Shia al-Sudani to discuss potential commercial ties between the countries and “maintain stability in the Middle East.”

Sheikh Shakhboot Nahyan, UAE Minister of State for Foreign Affairs, addressed the U.N. General Assembly on Monday during a debate on “Unity and diversity for advancing peace, sustainable development, and human dignity.”

➿ On the Circuit

Naguib Sawiris, Egypt’s second-wealthiest man and Chairperson of Ora Developers Egypt, called on the Central Bank of Egypt at a press conference to reduce the country’s 30% interest rates, which he said prevented Ora from making any profit in the first construction phase of its Zed Sheikh Zayed development in western Cairo.

Alan Coary was appointed Middle East Data Center Lead at London-based consulting firm Turner & Townsend and will be based in Riyadh.

Wael Mahdihas been appointed as Chief Growth Officer for the Middle East and North Africa at Gen Plus Group, a London-based network of PR agencies.

🎶 Culture Circuit

🎞 Oscar Rivals: Arab filmmakers from six countries have submitted entries for the Best International Feature Film competition at the 2025 Academy Awards on March 2. They include Egypt’s “Flight 404, directed by Hani Khalifa; Morocco’s “Everybody Loves Touda,” directed by Nabil Ayouch; Algeria’s  “Algiers,” directed by Chakib Taleb-Bendiab; a collection of 22 Palestinian short films by Gazan filmmakers, entitled “From Ground Zero,” presented by Rashid Masharawi; Jordan’s “My Sweet Land,” directed by Azza Hourani; and Iraq’s “Bagdhad Messi, directed by Sahim Omar Kalifa.

Photo of the Day

Falconers from around the Gulf gathered in Saudi Arabia’s Al-Hammad area this week for the start of hunting season. (Saudi Press Agency)

🗓️ Ahead on The Circuit

Sep. 30-Oct. 2, Dubai, UAE: Future Hospitality Summit. The global conference for leaders in the hospitality industry expands this year at a new location with dedicated space for ESG planning, country pavilions and a larger exhibition area. Madinat Jumeirah. 

Oct. 2, Riyadh: Interview with Fareed Zakaria.  CNN commentator talks about his new book, “Age of Revolutions”  at Riyadh Book Fair with Arab News Editor in Chief Faisal Abbas. Riyadh International Convention & Exhibition Centre.

Oct. 5-6, Abu Dhabi, UAE: Abu Al Abyad Dhow Sailing Race. The race is expected to set off from Abu Al Abyad to the Abu Dhabi Breakwater, attracting dhow owners and elite sailors. Abu Al Abyad Island.

Oct. 14-18, Dubai, UAE: GITEX Global. One of tech’s biggest events, the UAE conference brings companies from around the world to showcase their latest innovations. Dubai World Trade Center.

Oct. 15-17, Dubai, UAE: Aviation Future Week. Conference brings together UAE ministers, senior government officials and leaders from the aviation, aerospace, air freight and other related industries. Museum of the Future.

Oct.22-24, Dubai, UAE: Dubai Helishow. Conference features innovations in hybrid and electric helicopters, AI integration, UAV combat operations, and civil aviation. Skydive Dubai.

Oct. 29-31, Riyadh, Saudi Arabia. Future Investment Initiative Conference, 8th Edition. More than 6,000 global participants registered, including world leaders, policymakers CEOs and investors. King Abdul Aziz International Conference Center.

Nov. 12-13, Abu Dhabi, UAE: CyberQ: Security in the Quantum Era. Conference brings together international experts, policymakers and industry players to discuss challenges of the quantum age of cybersecurity. ADNEC.

ADIA, the Public Investment Fund and other Gulf sovereign wealth funds are finding it easier to attract and retain personnel as they are increasingly seen as influential dealmakers, data provider Global SWF reports. The PIF employs close to 2,000 people in Riyadh with plans to grow in the U.S., London and Asia, a survey by the firm notes. Despite a reduction in backoffice staff recently,  ADIA has been on a hiring computer experts and quants to set up an in-house “science lab,”  the report says.

Qatar Airways plans to acquire a 25% stake in Australia’s Virgin Australia Airlines from Bain Capital. Terms of the deal were not disclosed.

↪↩ Closing Circuit

👥 Energy Partners: ADNOC Drilling Co. has formed a joint venture with Schlumberger and Patterson-UTI called Turnwell to accelerate its $1.7 billion program in so-called unconventional oil and gas well exploration. ADNOC Drilling will hold a 55% stake in Turnwell.

💰 Metal Makers: Emirates Global Aluminium, the world’s largest producer of premium aluminum, announced the acquisition of a majority stake in the American aluminum recycling company, Spectro Alloys Corp. Terms were not disclosed.

🚰 Water Supply: Bahrain’s Deputy Prime Minister Sheikh Khalid bin Abdullah, inaugurated an $85 million electricity and water distribution station at the Al Hidd Housing Project.

🏢 Small Business: Emirates Development Bank and Abu Dhabi Islamic Bank will work together to support small and medium-sized businesses, or SMEs, through a joint finance guarantee program, with EDB providing 50% of financing for selected sectors including manufacturing, healthcare, and renewables.

⛽ Gas Project: Chinese contractor Jereh Oil & Gas Engineering secured a $316 million contract to provide engineering, procurement, construction, and commissioning services for Bahrain Petroleum Co., focusing on gas facilities in southern Bahrain.

Circuit Chatter

🛍️ Retail Therapy: Qatar is rapidly becoming a top retail destination in the MENA region, leveraging its $330 billion infrastructure investments from the 2022 FIFA World Cup, with new stores, malls and tourist attractions such as the $5.5 billion Simaisma Project, according to London-based consulting firm Knight Frank.

ℹ️ Tourist Attraction: Saudi Arabia generated a 656% rise in international tourists who came to the kingdom for entertainment and holidays in the first seven months of 2024, according to the Ministry of Tourism.

🛩️  Arrivals Terminal: Dubai International Airport raised its 2024 passenger forecast to 93 million, up from 91.8 million, noting that the increase comes in spite of ongoing Middle Eas tensiont.

💸 Bonds Offering: Egypt’s central bank has issued 50 billion Egyptian pounds ($1.1 billion) in treasury bills to manage liquidity and bolster government financing in response to rising inflation.

💳 New Look: aiBANK has rebranded as Bank NXT, which it describes as redefining its role in Egypt’s commercial banking  by providing timely financial solutions while investing in human capital and digital infrastructure.

🌍 Power Circuit

UAE President Sheikh Mohamed bin Zayed approved a $100 million relief package for Lebanon to support the country “through its current challenges,” according to a Presidential Court statement.

Sheikh Khalid bin Mohammed, Crown Prince of Abu Dhabi, began an official visit to Qatar on Tuesday where met with Emir SheikhTamim bin Hamad and a range of Qatari officials. Those accompanying the Prince included Mohamed Alsuwaidi, UAE Minister of Investment; Khaldoon Al Mubarak; Chairman of the Executive Affairs Authority and CEO of Mubadala Investment Co.; Mohamed Al Mubarak, Chairman of the Department of Culture and Tourism; and Saif Ghobash, Secretary General of the Abu Dhabi Executive Council.

Emir of Qatar Sheikh Tamim bin Hamad, held a phone call with Iraqi Prime Minister Mohammed Shia al-Sudani to discuss potential commercial ties between the countries and “maintain stability in the Middle East.”

Sheikh Shakhboot Nahyan, UAE Minister of State for Foreign Affairs, addressed the U.N. General Assembly on Monday during a debate on “Unity and diversity for advancing peace, sustainable development, and human dignity.”

➿ On the Circuit

Naguib Sawiris, Egypt’s second-wealthiest man and Chairperson of Ora Developers Egypt, called on the Central Bank of Egypt at a press conference to reduce the country’s 30% interest rates, which he said prevented Ora from making any profit in the first construction phase of its Zed Sheikh Zayed development in western Cairo.

Alan Coary was appointed Middle East Data Center Lead at London-based consulting firm Turner & Townsend and will be based in Riyadh.

Wael Mahdihas been appointed as Chief Growth Officer for the Middle East and North Africa at Gen Plus Group, a London-based network of PR agencies.

🎶 Culture Circuit

🎞 Oscar Rivals: Arab filmmakers from six countries have submitted entries for the Best International Feature Film competition at the 2025 Academy Awards on March 2. They include Egypt’s “Flight 404, directed by Hani Khalifa; Morocco’s “Everybody Loves Touda,” directed by Nabil Ayouch; Algeria’s  “Algiers,” directed by Chakib Taleb-Bendiab; a collection of 22 Palestinian short films by Gazan filmmakers, entitled “From Ground Zero,” presented by Rashid Masharawi; Jordan’s “My Sweet Land,” directed by Azza Hourani; and Iraq’s “Bagdhad Messi, directed by Sahim Omar Kalifa.

Photo of the Day

Falconers from around the Gulf gathered in Saudi Arabia’s Al-Hammad area this week for the start of hunting season. (Saudi Press Agency)

🗓️ Ahead on The Circuit

Sep. 30-Oct. 2, Dubai, UAE: Future Hospitality Summit. The global conference for leaders in the hospitality industry expands this year at a new location with dedicated space for ESG planning, country pavilions and a larger exhibition area. Madinat Jumeirah. 

Oct. 2, Riyadh: Interview with Fareed Zakaria.  CNN commentator talks about his new book, “Age of Revolutions”  at Riyadh Book Fair with Arab News Editor in Chief Faisal Abbas. Riyadh International Convention & Exhibition Centre.

Oct. 5-6, Abu Dhabi, UAE: Abu Al Abyad Dhow Sailing Race. The race is expected to set off from Abu Al Abyad to the Abu Dhabi Breakwater, attracting dhow owners and elite sailors. Abu Al Abyad Island.

Oct. 14-18, Dubai, UAE: GITEX Global. One of tech’s biggest events, the UAE conference brings companies from around the world to showcase their latest innovations. Dubai World Trade Center.

Oct. 15-17, Dubai, UAE: Aviation Future Week. Conference brings together UAE ministers, senior government officials and leaders from the aviation, aerospace, air freight and other related industries. Museum of the Future.

Oct.22-24, Dubai, UAE: Dubai Helishow. Conference features innovations in hybrid and electric helicopters, AI integration, UAV combat operations, and civil aviation. Skydive Dubai.

Oct. 29-31, Riyadh, Saudi Arabia. Future Investment Initiative Conference, 8th Edition. More than 6,000 global participants registered, including world leaders, policymakers CEOs and investors. King Abdul Aziz International Conference Center.

Nov. 12-13, Abu Dhabi, UAE: CyberQ: Security in the Quantum Era. Conference brings together international experts, policymakers and industry players to discuss challenges of the quantum age of cybersecurity. ADNEC.