SUEZ ROUTE

Saudi Arabia is rerouting more oil through Egypt’s Suez Canal, adding to a broader reshuffling of global oil flows as Gulf producers seek alternatives to the Strait of Hormuz. At least four tankers carrying Saudi crude abruptly reversed course this week before reaching the Bab el-Mandeb Strait at the southern end of the Red Sea, instead heading north toward the Suez Canal, according to ship-tracking firm Vortexa, The Wall Street Journal reports. On Sunday, two supertankers bound for Asia took the longer Suez Canal route, with the Greek-owned Olympic Luck already through the canal partially laden and the DHT Gazelle following, Bloomberg reports.Vessels from nations including China and Pakistan continue to use the Bab el-Mandeb Strait.

RACING AHEAD

Malaysia will host its first Formula One race in nine years after agreeing to stage Bahrain’s postponed Grand Prix at the Sepang International Circuit, allowing the event to go ahead despite the disruption caused by the conflict. The race will be held between the Azerbaijan and Singapore fixtures, taking place Oct. 2-4, Bloomberg reports. The Bahrain race was originally scheduled for April but was postponed alongside Saudi Arabia’s Jeddah Grand Prix after the outbreak of hostilities. The agreement remains subject to final contracts and approval from the World Motor Sport Council, Formula One and the FIA.

Public Investment Fund: Saudi Arabia’s sovereign fund signed a memorandum of understanding with the Export-Import Bank of the U.S. to build a financing framework worth up to $15 billion to support strategic investments and procurement from U.S. companies. The PIF also signed agreements worth up to $9.5 billion with the International Finance Corporation and the Multilateral Investment Guarantee Agency. 

Kuwait Investment Authority: BP is in advanced talks to sell its Lightsource solar business to a consortium backed by Kuwait’s sovereign wealth fund, as the energy major refocuses on oil and gas and pursues a $20 billion divestment plan.

Qatar Development Bank: The state-backed entity was among investors in a $570 million fundraising round for Multiverse Computing, a quantum AI software company headquartered in San Sebastián, Spain.

Mubadala Capital: Carlyle and Bain Capital are competing to acquire Wealth Enhancement, a wealth management platform overseeing nearly $160 billion in client assets, as Mubadala Capital’s $8.8 billion acquisition of CI Financial highlights growing investor interest in the sector, the Financial Times reports.

🔋 Battery Power: The African Development Bank has approved a $114.2 million loan to Gotion Power Morocco to help finance a lithium battery gigafactory, with plans to mobilize an additional $160.9 million from financial partners.

🏦 Bank Deal: Nigerian billionaire Tony Elumelu’s United Bank for Africa, which has a presence in Dubai, is nearing approval for a French banking license as it expands its international footprint.

🧲 Wealth Magnet: Dubai’s Department of Economy and Tourism is partnering with Swiss wealth manager Julius Baer to attract international investors, business owners and family offices to establish and expand their presence in the emirate.

🎰 Wynn Win: Construction has begun on Janu Al Marjan Island, a luxury hotel and branded residences project in Ras Al Khaimah, marking the second joint venture between Marjan and Wynn Resorts.

💸 New Bonds: Oman’s Bank Dhofar is planning to raise up to $400 million through the issuance of a new type of investment.

🚘 Trump Way: U.S. President Donald Trump said Morocco is naming a 655-mile highway after him, thanking King Mohammed VI and calling it “such an honor” in a social media post.

🎮 Gaming Hub: Australian video game streaming company Kick, which lets people broadcast themselves playing live, is expanding in Saudi Arabia and the wider Gulf. 

🤝 Working Together: The UAE and Canada have concluded negotiations on a Comprehensive Economic Partnership Agreement, which is expected to cut tariffs and expand market access, building on bilateral trade that reached $4.2 billion in 2025.

🏢 Oman’s Market: Younger first-time buyers benefiting from lower interest rates are driving Oman’s property market, with sale contracts rising 7% to 34,000 in the first half of 2026 and mortgage signings up 26% year-on-year.

💰 Alternative Option: Morocco’s Casablanca Finance City is stepping up efforts to attract companies seeking alternatives to Gulf hubs amid regional conflict and travel disruptions, pitching its strategic access to African markets, Africa Intelligence reports. 

UAE President Sheikh Mohamed bin Zayed held a phone call on Sunday with Andy Burnham, the U.K.’s new Prime Minister.

Saudi Crown Prince Mohammed bin Salman also held a phone call with Andy Burnham, who condemned attacks by Yemen’s Iran-backed Houthi militia.

Bahrain’s King Hamad bin Isa Al Khalifa held a phone call with Israel’s President Isaac Herzog on Sunday.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, held a phone call with Qatar’s Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman on Sunday. Sheikh Abdullah also held a phone call with Oman’s Minister of Foreign Affairs Sayyid Badr bin Hamad bin Hamoud.

Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, met with Stéphane Courbit, Chairman of Banijay Group, on the sidelines of the Tour de France, where they discussed the future of the media and entertainment landscape. 

Dave Shaw, the UFC’s Executive Vice-President and Head of International and Content, told The National that the return to Abu Dhabi “feels like a homecoming.”

Rizwan and Adel Sajan, the father and son behind Danube Properties, told Arabian Gulf Business Insight that while newcomer developers may now be struggling with the downturn in Dubai’s property market, it was creating an advantage for mature businesses. “All my sites are running better than before because a lot of projects from other developers have stopped,” Rizwan said. 

🌴 Natural Beauty: The UAE’s Wadi Wurayah National Park, a geological site in Fujairah, has been added to the Unesco World Heritage List, The National reports. Wadi Wurayah sits within the Hajar Mountains about 45km from Fujairah City and is the only permanent freshwater ecosystem in the area, with year-round streams, springs and natural waterfalls. The site, which became the country’s first national park in 2013, will become a protected site of global importance, recognized for its “outstanding universal natural value.” 

📷 Photo of the Day

July 26-28, Riyadh. Sanabil Angel Investing Unlocked. Training the next generation of angel investors in Saudi Arabia and the wider MENA region. 

July 28-30, Cairo. EduGate. The annual fair highlights technology and new educational trends and techniques from across the Middle East. Egypt International Exhibition Center.

August 18-19, Dubai. Middle East Event Show. Bringing together professionals from the events industry. Dubai World Trade Center.  

August 28-Sept. 6, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition. An annual event celebrating traditional Emirati heritage and culture. ADNEC Centre.

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

August 31-Sept. 3, Riyadh. LEAP Expo Riyadh. A major tech trade show for the Middle East, which includes a global startup live pitch event. RECC Malham.

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

Sept. 1-3, Doha. Qatar Event Show. Brings together the events industry through a three-day program featuring exhibitions, conferences, workshops and networking opportunities. Doha Exhibition & Convention Center.

Sept. 11-13, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles. ADNEC Centre.  

Sept. 13-18, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC Centre.

Sept. 17-19, Abu Dhabi. International Real Estate & Investment Show 2026. An event targeting investors and consumers rather than trade visitors. ADNEC Centre.

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. ADNEC Centre.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center. 

NUCLEAR DOUBTS

Saudi Arabia’s deal with the U.S. to develop a civilian nuclear program was thrown into doubt just a day after it was announced, after President Donald Trump added a condition that the kingdom normalize relations with Israel. Under the landmark agreement announced on Wednesday, Trump gave formal approval to the 30-year agreement, which is expected to be worth tens of billions for American firms, including Westinghouse. The agreement secured with Crown Prince Mohammed bin Salman dropped the requirement to normalize relations. But Trump appeared to walk back on the issue on Thursday, saying the deal “is totally subject to Saudi Arabia joining the very respected and successful Abraham Accords.”

HOSTING F1

Bahrain’s hopes of hosting a rescheduled Formula One Grand Prix this year appear to have been dashed by renewed hostilities with Iran. Malaysia is now weighing the possibility of holding the race, which would be the first time it has played host in nine years. Bahrain had been seeking to reschedule its Grand Prix for early October, after its April fixture was postponed by the outbreak of the Iran conflict. In the latest flare up, Iran has mostly targeted Bahrain, Kuwait and Jordan. Bahrain sounded its emergency sirens twice today to alert civilians to incoming projectiles. Saudi Arabia’s Jeddah Grand Prix was also postponed in April. Qatar’s race in November and Abu Dhabi’s in December are still expected to go ahead.

Mubadala Capital: The asset management arm of the Abu Dhabi sovereign fund has launched a blockchain-based digital version of one of its private market funds, allowing investors to hold digital tokens representing their investment, with technology from Coinbase and Abu Dhabi-based KAIO.

Public Investment Fund: A group of investors, including Saudi Arabia’s PIF, ​has secured EU antitrust approval for ‌its $55 billion acquisition of video game developer Electronic Arts, the European Commission said on Thursday.

Public Investment Fund: The pause on Paramount Skydance Corp.’s Gulf-backed $110 billion takeover of Warner Bros. has been extended two weeks to Aug. 17 by a federal judge in California. Saudi Arabia’s PIF, the Qatar Investment Authority and Abu Dhabi’s L’Imad Holding are all backing the deal.

ADNOC: Abu Dhabi National Oil Company has launched its seventh crude tender since early June, offering August-October cargoes amid escalating Middle East conflict and shipping disruptions.

💰 FX Deal: First Abu Dhabi Bank is offering up to $1.5 billion in financing to non-resident Indians investing in India’s foreign-currency deposit program.

🪖 Defense Dollars: U.S. arms sales to GCC states reached $41 billion in the first half of 2026, more than quadrupling the $9 billion recorded in all of 2025, Arabian Gulf Business Insights reports.

⚡ Grid Goals: Dubai Electricity and Water Authority has invested more than $2.7 billion in electricity transmission projects as it expands infrastructure to meet rising power demand.

🚿 Water Worries: Concerns are mounting over Kuwait’s fresh water supply after Iranian strikes on power stations and desalination plants.

🤝 Damascus Deals: Turkey aims to boost trade with Syria to $10 billion after bilateral commerce surged more than 40% to a record $3.75 billion in 2025.

🏢 Expanding Relations: Abu Dhabi’s Masdar City Free Zone has opened representative offices in Shanghai and Shenzhen, as it seeks to attract more Chinese companies to the Gulf.

⚔️ Fighting Corruption: Kuwait has urged jewellers to tighten anti-money laundering and counter-terrorist financing measures as it seeks to exit the Financial Action Task Force grey list.

🛢 Russia Wins: Chinese buyers are snapping up Russian ESPO crude earlier than usual as Middle East supply risks drive refiners to secure supplies, Bloomberg reports. 

UAE President Sheikh Mohamed bin Zayed met with Sheikh Hamad bin Mohammed Al Sharqi, Ruler of Fujairah, on Thursday.

Prince Faisal bin Farhan, Saudi Foreign Minister, held separate phone calls with Sheikh Mohammed bin Abdulrahman, Qatar’s Prime Minister and Foreign Minister, Ayman Safadi, Jordan’s Foreign Minister,  and Sheikh Jarrah Jaber Al-Ahmad Al-Sabah, Kuwait’s Foreign Minister.

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, has approved a national program aimed at modernizing the use of economic statistics and data in the UAE, the National reports. 

UN Secretary General Antonio Guterres will visit Damascus this week for the first time since taking office. He is expected to meet President Ahmed al-Sharaa.

Mariya Dangote, a board member of Nigeria’s Dangote Cement, said in an interview with Bloomberg that the company was opting to list the business in London instead of Dubai because it will be quicker.

Jeff Zucker, RedBird IMI CEO, told The Ankler that the U.S. market was underestimating the significance of the merger between Banijay and All3Media, creating the world’s biggest indie producer. “We’ll continue to take them by surprise,” he said. “And sometimes that’s an even better way to operate.”

🎤 Comedy Gold: Mo Amer and Morgan Jay have been confirmed among the lineup for Abu Dhabi Comedy Season’s return to Etihad Arena in October, The National reports. Amer, who is Palestinian-American, was born in Kuwait and draws on themes of displacement, immigration and life between cultures in his shows. He will take to the stage on November 6. American Jay will open the season on October 11 with his signature combination of stand-up and improvised songs. 

📷 Photo of the Day

July 26-28, Riyadh. Sanabil Angel Investing Unlocked. Training the next generation of angel investors in Saudi Arabia and the wider MENA region. 

July 28-30, Cairo. EduGate. The annual fair highlights technology and new educational trends and techniques from across the Middle East. Egypt International Exhibition Center.

August 18-19, Dubai. Middle East Event Show. Bringing together professionals from the events industry. Dubai World Trade Center.  

August 28-Sept. 6, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition. An annual event celebrating traditional Emirati heritage and culture. ADNEC Centre.

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

August 31-Sept. 3, Riyadh. LEAP Expo Riyadh. A major tech trade show for the Middle East, which includes a global startup live pitch event. RECC Malham.

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

Sept. 1-3, Doha. Qatar Event Show. Brings together the events industry through a three-day program featuring exhibitions, conferences, workshops and networking opportunities. Doha Exhibition & Convention Center.

Sept. 11-13, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles. ADNEC Centre.  

Sept. 13-18, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC Centre.

Sept. 17-19, Abu Dhabi. International Real Estate & Investment Show 2026. An event targeting investors and consumers rather than trade visitors. ADNEC Centre.

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. ADNEC Centre.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center. 

TAKING FLIGHT

Saudi Arabia’s Public Investment Fund-backed helicopter company is expanding into the private jet industry with a deal to purchase up to 60 aircraft from Canadian manufacturer Bombardier. The Helicopter Co. signed a letter of intent for the purchase of five Challenger 3500s, five Global 5500s and two Global 8000s at England’s Farnborough International Airshow, with options for 48 more aircraft. THC has also placed orders at the airshow for an additional 11 Leonardo AW139 helicopters and eight Airbus H145 helicopters. THC was founded in 2018 as a part of the PIF’s plans to expand the kingdom’s aviation sector and is now rapidly expanding its fleet to meet growing demand for private charters and business aviation. It currently operates a fleet of more than 60 aircraft serving emergency services, aerial work, private charters and tourism.

COMING BACK

U.S. airlines will be allowed to resume direct flights to Lebanon, reversing a four-decade ban imposed after Hezbollah hijacked a Trans World Airlines plane in 1985. U.S. President Donald Trump announced the move after a meeting at the White House with Lebanese President Joseph Aoun, saying he had issued directions “to allow all U.S. airline carriers to fly directly to Lebanon so that Americans can easily visit this beautiful land.” Trump also said the U.S. had “concrete plans” to support Lebanon’s military as it assumes control of areas in southern Lebanon previously held by Hezbollah. Trump did not provide a timeline for resuming flights.

MGX: A consortium including Abu Dhabi’s MGX has completed the acquisition of U.S.-based Aligned Data Centers in a deal valuing the company at about $40 billion, committing a further $5 billion in growth capital.

Mubadala: The Abu Dhabi sovereign fund and Brazilian aerospace company Embraer have signed a strategic framework agreement to explore long-term collaboration across aerospace supply chains, maintenance, repair and overhaul, human capital development and research and development.

Public Investment Fund: Saudi Basic Industries Corp. has signed an agreement with PIF-backed EV maker Ceer to explore using SABIC’s advanced materials in its vehicles and expand Saudi Arabia’s domestic automotive supply chain.

L’Imad Holding: Etihad Airways, controlled by L’Imad Holding, and Colombia’s Abra Group have signed an agreement to strengthen connectivity between Latin America, the Middle East and Asia.

💰 New Fund: Egypt will launch a sovereign-led industrial investment fund to boost manufacturing and exports, alongside a separate fund targeting private sector investments in Africa.

🚀 Interceptor Demand: U.S. defense contractor Northrop Grumman said it is starting to manufacture solid rocket motors for Patriot missile-defense interceptors, which have been widely used to shoot down drones in the Iran conflict, with plans to triple output by 2030.

⛽ Gas Import: Egypt is in talks with Shell, TotalEnergies, BP and Hartree Partners to secure 15 to 18 LNG cargoes a month for at least three years as domestic production declines and global supply tightens.

🚢 Go Back: Several tankers carrying Saudi oil turned around in the Red Sea after Houthi rebels threatened attacks on Saudi-linked ships, raising concerns over higher costs and further disruption to global energy supplies.

📢 Slashing Ads: Gulf advertising spending is slowing sharply as the U.S.-Iran conflict, Strait of Hormuz disruptions and weaker consumer confidence prompt businesses to cut marketing budgets, Arabian Gulf Business Insight reports.

💵 Golden Visa: Lebanon has proposed a controversial $1 million visa offering low-tax residency to wealthy foreigners, the Financial Times reports.

🛢️ Oil Doubts: A $1 billion deal signed by Libya’s National Oil Corp with Qatari group UCC Holding to develop a project in Libya’s northwest is raising questions at the Libyan Audit Bureau, Africa Intelligence reports.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, met with Dr. Badr Abdelatty, Egypt’s Foreign Minister, on Tuesday. 

Prince Faisal bin Farhan, Saudi Foreign Minister, held separate calls on Tuesday with Spain’s Foreign Minister Jose Manuel Albares, Italy’s Foreign Minister Antonio Tajani and Germany’s Johann Wadephul to discuss threats to shipping in the Red Sea and the Gulf. 

Sheikh Hamdan bin Zayed, Ruler’s Representative in Al Dhafra Region and Chairman of the Emirates Falconers’ Club, reviewed the latest preparations for the launch of the 23rd edition of the Abu Dhabi International Hunting and Equestrian Exhibition) 2026.

Salman Al-Dosary, Saudi Arabia’s Media Minister, and Abdulla bin Mohammed Alhamed, Chairman of the UAE National Media Authority, posted coordinated messages on X on Tuesday night, affirming their close ties and underscoring their “shared history.” The display of unity comes amid renewed escalation in the Iran war.

Tim Clark, Emirates President, has warned that delays to Boeing’s 777X risk the wide-body jet being overtaken by technology before delivery.

Dr. Abdulnasser Alshaali presented his credentials as Ambassador of the UAE to Tharman Shanmugaratnam, President of Singapore, during a reception at the Istana.

🏖️ Family Friendly: Dubai has launched a scheme to boost its tourism and hospitality sector by encouraging residents to bring their friends and family to the emirate. The Dubai Invite scheme offers residents up to Dh3,000 in discounts and free attractions for their guests between July 20 and Oct. 31. The UAE’s hotels and leisure attractions, which have been severely affected by travel disruptions from the Iran conflict, now face the additional challenge of the quieter summer months. Benefits of the scheme include discounted hotels, free tickets to adventure parks and a number of dining deals.

📷 Photo of the Day

July 20-24, Farnborough, U.K. Farnborough International Airshow 2026. Aerospace and defense industries showcase their advancements. Farnborough International Exhibition and Conference Centre.

July 23, Egypt. Revolution Day. Government offices, banks and the stock exchange are closed for the national holiday.

July 28-30, Cairo. EduGate. The annual fair highlights technology and new educational trends and techniques from across the Middle East. Egypt International Exhibition Center.

August 18-19, Dubai. Middle East Event Show. Bringing together professionals from the events industry. Dubai World Trade Center.  

August 28-Sept. 6, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition. An annual event celebrating traditional Emirati heritage and culture. ADNEC Centre.

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

August 31-Sept. 3, Riyadh. LEAP Expo Riyadh. A major tech trade show for the Middle East, which includes a global startup live pitch event. RECC Malham.

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

Sept. 1-3, Doha. Qatar Event Show. Brings together the events industry through a three-day program featuring exhibitions, conferences, workshops and networking opportunities. Doha Exhibition & Convention Center.

Sept. 11-13, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles. ADNEC Centre.  

Sept. 13-18, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC Centre.

Sept. 17-19, Abu Dhabi. International Real Estate & Investment Show 2026. An event targeting investors and consumers rather than trade visitors. ADNEC Centre.

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. ADNEC Centre.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center. 

SEA BLOCKADE

Yemen’s Iran-aligned Houthis said on Monday they would impose a naval blockade on Saudi Arabia, raising risks to global energy supplies and trade, Reuters reports. Crude loadings through the Bab Al Mandeb Strait have already plunged 36% in two weeks since the Houthis revived threats to shipping in the Red Sea, according to data analytics firm Kpler. The kingdom has been diverting the majority of its crude exports to the Red Sea port of Yanbu since Iran’s blockade of the Strait of Hormuz. The Bab Al Mandeb embargo is the most serious deterioration in relations between Riyadh and the Houthis since their 2022 truce.

HOLLYWOOD DRAMA

Paramount Skydance’s Gulf-backed $110 billion acquisition of Warner Bros. Discovery is facing mounting legal hurdles after a federal judge granted a request to pause the merger for two weeks on the basis that it “likely” violates antitrust laws. New York and California are leading a coalition of states opposing the transaction and want a trial in April next year. The next hearing is scheduled for early August. The companies had previously hoped to close this week, with European regulators expected to clear the deal on Wednesday, Bloomberg reports. If Paramount doesn’t close the deal by the end of September, it will be required to start paying about $7 million per day in late fees to Warner Bros. shareholders, meaning costs could blow out into the billions if it drags into next year. 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 merged entity.

Public Investment Fund: Red Sea Gateway Terminal International, a Jeddah-based company backed by the Saudi sovereign wealth fund, opened a $170 million container terminal at Bangladesh’s Chittagong Port.

Diriyah: U.S.-based Parsons Corp. has won a $56 million contract from PIF-backed Diriyah Co. to support infrastructure development in Phase 2 of Saudi Arabia’s heritage-led megaproject.

Riyadh Air, the new Saudi carrier owned by the PIF, exercised options for six Airbus A350-1000s and 28 Boeing 787 Dreamliners. Meanwhile, the PIF-owned Helicopter Co. ordered eight additional Airbus H145 helicopters to expand the kingdom’s commercial aviation and emergency services fleet.

G42: Talal M. Al Kaissi, CEO of the Abu Dhabi-backed tech company’s Core42 unit, said during a discussion at the Aspen Security Forum in Aspen, Colorado, last week that U.S. companies will work with the UAE on expanding the use of digital tokens.

🌱 Green Loan: DP World has signed a $28.5 million loan agreement with the European Bank for Reconstruction and Development to support the electrification of operations at Constanța South Container Terminal in Romania. 

💦 Water Security: Saudi Arabia’s Binladin Contracting Group submitted the lowest bid of $91.5 million to supply and install water transmission pipelines for the second phase of Dubai’s Hassyan desalination plant.

🛡️ Price Comparison: Qatar Central Bank has issued the country’s first license for an insurance price comparison website to Ammen.

🚢 Danger Bonus: Sinokor Group, the world’s largest owner of supertankers, is offering crews six months’ extra pay to sail through the Strait of Hormuz, Bloomberg reports.

🛡️ Coverage Crunch: War-risk insurance and government travel advisories are delaying the return of some European airlines to Dubai even as the airport operates at near full capacity, Dubai Airports CEO Paul Griffiths told Bloomberg.

🚁 Drone Design: Gordon Gill, co-designer of Saudi Arabia’s Jeddah Tower, expects drone corridors and elevated passenger transport to reshape urban design in the Middle East.

🪖 Easy Target: Kuwait has faced nearly 1,400 Iranian missile and drone attacks since February, leaving residents increasingly fearful amid renewed strikes targeting U.S. military bases, the Financial Times reports.

🔌 Electricity Boost: Saudi Arabia is boosting power capacity in Yemen as renewed fighting deepens an electricity crisis in Aden, where regular outages have sparked protests, Intelligence Online reports.

UAE President Sheikh Mohamed bin Zayed congratulated Andy Burnham on becoming the U.K.’s new Prime Minister on Monday. 

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister, Chairman of the Presidential Court and Chairman of the board of directors of the UAE Central Bank, announced the operational launch of the Jaywan cards, an initiative that aims to boost financial inclusion and reduce the cost of payments in the country, on Monday.

Sheikh Abdullah bin Zayed, UAE Foreign Minister, held a phone call with the newly appointed Felix Plasencia, Venezuela’s Minister of People’s Power for Foreign Relations and International Trade.

Sheikh Shakhboot bin Nahyan, UAE Minister of State, met with Dr. James Pitia Morgan, Minister of Foreign Affairs and International Cooperation of South Sudan, in Abu Dhabi.

François Fillon, a former French prime minister, has been helping link Emirati defense companies with French firms, Intelligence Online reports.

Dr. Thani Al Zeyoudi, UAE Minister of Foreign Trade, said the country plans to finalize up to seven new Comprehensive Economic Partnership Agreements before the end of the year.

Khaled Darwish was appointed as head of Corporate Banking for the Middle East and North Africa at Bank of America. He will be based in Dubai and report to Richard King, head of EMEA Corporate Banking.

Mehdi Paryavi, founder and CEO of the International Data Center Authority, told Asharq News that Saudi Arabia is leading the Middle East in attracting AI data center investments.

🥪 Sandwich Time: A New York-style deli serving up Reuben, Tuna melt and grilled cheese sandwiches at retro booths is one of Dubai’s latest hospitality additions. Hudson & Rye, founded by Dubai-based New Yorkers Emma Zabinsky Csillag and chef Daniel Ross-Leutwyler – who are also behind Five Iron Golf – opened in DIFC Square on June 30. It is among The National’s picks for new culinary experiences to try this summer, alongside Russian chain Dodo Pizza Academy in JLT, and a new limited edition range of miniature cakes from Jun’s, Kelvin Cheung’s inventive fusion restaurant in Downtown Dubai.

📷 Photo of the Day

July 20-24, Farnborough, U.K. Farnborough International Airshow 2026. Aerospace and defense industries showcase their advancements. Farnborough International Exhibition and Conference Centre.

July 23, Egypt. Revolution Day. Government offices, banks and the stock exchange are closed for the national holiday.

July 28-30, Cairo. EduGate. The annual fair highlights technology and new educational trends and techniques from across the Middle East. Egypt International Exhibition Center.

August 18-19, Dubai. Middle East Event Show. Bringing together professionals from the events industry. Dubai World Trade Center.  

August 28-Sept. 6, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition. An annual event celebrating traditional Emirati heritage and culture. ADNEC Centre.

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

August 31-Sept. 3, Riyadh. LEAP Expo Riyadh. A major tech trade show for the Middle East, which includes a global startup live pitch event. RECC Malham.

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

Sept. 1-3, Doha. Qatar Event Show. Brings together the events industry through a three-day program featuring exhibitions, conferences, workshops and networking opportunities. Doha Exhibition & Convention Center.

Sept. 11-13, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles. ADNEC Centre.  

Sept. 13-18, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC Centre.

Sept. 17-19, Abu Dhabi. International Real Estate & Investment Show 2026. An event targeting investors and consumers rather than trade visitors. ADNEC Centre.

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. ADNEC Centre.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center. 

EGYPTIAN SHORES

Skidmore, Owings & Merrill, the U.S. architecture firm behind Dubai’s Burj Khalifa, will lead the masterplan of Qatari Diar’s $30 billion Alam Al Roum smart-city project on Egypt’s Mediterranean coast. The massive development will include more than 7 kilometers (4.3 miles) of private beachfront and be supported by a consortium of global design and engineering firms, Arabian Gulf Business Insight reports. Qatari Diar, owned by the Qatar Investment Authority, has committed $3.5 billion to the project. The move comes as Gulf-backed coastal developments accelerate in Egypt, with Abu Dhabi’s Modon leading the Ras El Hekma master development.

MOROCCAN SOJOURN

Morocco plans to add 60,000 hotel beds before it co-hosts the 2030 FIFA World Cup with Spain and Portugal, increasing the country’s lodging capacity by about 20%. Tourism Minister Fatim-Zahra Ammor said the tournament is an opportunity to speed up long-term growth rather than a goal in itself, Reuters reports. The government is investing more than $20 billion in rail, roads, airports, stadiums and other infrastructure ahead of the event. Morocco, which welcomed nearly 20 million visitors last year, aims to attract 26 million tourists annually by 2030.

Mubadala: Mubadala Capital, the alternative asset management arm of the Mubadala sovereign wealth fund, has agreed to acquire the outstanding securities of French leisure operator Pierre et Vacances through an all-cash tender offer of approximately 900 million euros ($1.1 billion).

Dubai Investment Co.: Dubai Investments Industries agreed to acquire an 80% stake in Clemenceau Medical Center through a share-swap transaction.

Public Investment Fund: The Saudi sovereign wealth fund, along with Jared Kushner’s Affinity Partners and private equity firm Silver Lake, is expected to win unconditional approval from the European Commission for its $55 billion acquisition of Electronic Arts after the end of its preliminary review on July 30, Reuters reports.

SABIC: Saudi Basic Industries Corp. signed a project development agreement with China’s Rongsheng Petrochemical that could give SABIC a 50% stake in a major new petrochemicals complex in Zhejiang province.

G42: A veteran CIA officer sent to Abu Dhabi helped address Washington’s concerns over G42’s ties to China, clearing the way for closer U.S.-UAE cooperation on advanced artificial intelligence technologies, The Wall Street Journal reports.

✍️ Destination Jeddah: Saudi-based ALMA Destination signed agreements with the Jeddah Municipality and the National Water Co. to establish long-term management of public infrastructure and operate water treatment facilities across its 3.125 million square meter.

💰 Logistics Zone: Saudi Arabia’s Ports Authority, Mawani, signed seven agreements worth nearly 1 billion riyals ($267 million) to develop and expand logistics centers at Jeddah Islamic Port and Al-Khumra Logistics Zone.

📈 Oil Jump: Oil prices climbed above $90 a barrel for the first time in over a month as escalating U.S.-Iran strikes heightened fears of energy market disruption.

🇰🇼 Kuwait Under Fire: Iran struck a Kuwaiti oil facility, a power and desalination plant and an army barracks in one of the heaviest attacks on the Gulf state since the conflict began,

✈️ Low Altitude: Ryanair’s quarterly profit fell 34% to about $625 million as Middle East tensions forced lower fares while rising fuel costs pushed expenses higher, the Financial Times reports.

🛢️ Energy Expansion: An Egyptian consortium of Petrojet and Enppi has been shortlisted by Petroleum Development Oman to bid for its $6 billion project portfolio.

Saudi Crown Prince Mohammed bin Salman held a phone call on Sunday with Lebanese President Joseph Aoun. On Tuesday, Aoun will make his first White House visit to present President Donald Trump with a plan to disarm Hezbollah and press Israel to complete its withdrawal from southern Lebanon.

Sheikh Abdullah bin Zayed, the UAE Minister of Foreign Affairs, held a phone call with Jordan’s Foreign Minister Ayman Safadi on Sunday. Sheikh Abdullah also held a phone call with Sergey Lavrov, Russia’s Minister of Foreign Affairs, on Saturday.

Prince Abdullah bin Khalid bin Sultan, Saudi Ambassador to the U.K., met with Richard Deverell, Director of Royal Botanic Gardens, Kew, and Mark Chadwick, Kew Reach’s CEO, at the Saudi Embassy in London.

Sheikha Fatima bint Tahnoon, daughter of UAE National Security Advisor Sheikh Tahnoon bin Zayed –  who oversees many of Abu Dhabi’s biggest companies and sovereign wealth funds – is the founder Sahm Holding, a government-backed firm that is active in helping businesses use artificial intelligence, Intelligence Online reports. 

Khaldoon Al Mubarak, Group CEO of Mubadala and Chairman of the Manchester City football club, was among the prominent UAE figures who attended the FIFA World Cup finals on Sunday at MetLife Stadium in East Rutherford, N.J. Also spotted were Mariam bint Mohammed Almheiri, Head of the International Affairs Office at the UAE Presidential Court; Sayed Basar Shuaib, CEO of International Holding Co.; Mohammed Al Mubarak, Chairman of Aldar Properties; Khalfan Belhoul, CEO of the Dubai Future Foundation and Vice Chairman of the Dubai Sports Council; and Fouad Darwish, CEO of Palms Sport.

Said Bakhache, the IMF’s mission chief for the UAE, said in a report that while “the country’s banking sector’s exposure to real estate is contained, evolving market conditions warrant continued monitoring.”

Vijay Pereira, Senior Partner of Irish whiskey maker Marrowbone Lane, told Arabian Gulf Business Insights that the company is launching a UAE-based global platform that uses stablecoins and blockchain tokenization to let retail investors buy fractional stakes in whiskey casks.

Lt. Gen. Mazyad Al-Amro, commander of the Royal Saudi Air Defense Forces, met with Lt. Gen. Patrick D. Frank, deputy commander of U.S. Central Command, on Sunday.

🏺 Pharaoh’s Guide: Egypt’s best-known archaeologist, Zahi Hawass, has become one of the biggest attractions at Cairo’s Grand Egyptian Museum, where the 79-year-old celebrity historian is mobbed by visitors when he turns up. In an interview with the Financial Times, Hawass reflects on his decades as the public face of Egyptology, from guiding former U.S. President Barack Obama through the pyramids to debunking theories that aliens built them.

📷 Photo of the Day

August 18-19, Dubai. Middle East Event Show. Bringing together professionals from the events industry. Dubai World Trade Center.  

August 28-Sept. 6, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition. An annual event celebrating traditional Emirati heritage and culture. ADNEC Center.

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

August 31-Sept. 3, Riyadh. LEAP Expo Riyadh. A major tech trade show for the Middle East, which includes a global startup live pitch event. RECC Malham.

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Center.  

Sept.1-3, Doha. Qatar Event Show. Brings together the events industry through a three-day program featuring exhibitions, conferences, workshops and networking opportunities.. Doha Exhibition & Convention Center.

Sept. 11-13, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles. ADNEC Center.  

Sept. 13-18, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC Center.

Sept. 17-19, Abu Dhabi. International Real Estate & Investment Show 2026. An event targeting investors and consumers rather than trade visitors. ADNEC Center.

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. ADNEC Centre.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center. 

IRAQ EXPANSION

Chevron is in advanced talks with Iraq to sign preliminary agreements that move it closer to investing in two of the country’s biggest oil fields. The non-binding accords cover the giant West Qurna-2 field and the Nasiriyah field, and signal the U.S. oil company’s intention to negotiate final commercial deals, Bloomberg reports. Chevron is also studying a pipeline through Syria that would allow Iraqi oil exports to bypass the Strait of Hormuz, reducing reliance on one of the world’s busiest shipping routes. The talks come after Iraqi Prime Minister Ali Al-Zaidi met Chevron executives in Houston and President Donald Trump said “massive” new U.S.-Iraq oil partnerships would be announced soon.

AFRICA LINK

The Abu Dhabi Securities Exchange is expanding its push into Africa by bringing the Botswana Stock Exchange into its Tabadul cross-border trading platform. Botswana will become the first African exchange connected to the network, giving investors in both markets direct access through local brokerages. Tabadul, launched in 2022 by ADX and the Bahrain Bourse, now links 11 exchanges with a combined market capitalization of more than $1 trillion, over 700 listed companies and 11 million registered investors. The agreement boosts Abu Dhabi’s efforts to position itself as a gateway for investment flows between the Middle East and Africa.

Kuwait Direct Investment Promotion Authority: Beijing-based China State Construction Engineering Corp. has won a $233 million contract to build the KDIPA’s 55-story headquarters tower in Kuwait City, with completion expected by 2028. 

EDGE Group: The UAE’s government-owned defense conglomerate agreed to acquire Brazilian aerospace company AKAER, a maker of electro-optic, infrared and space-related technologies.

L’Imad Holding: The Abu Dhabi sovereign wealth fund’s Modon Holding will develop a Nammos-branded luxury resort at Egypt’s Ras El Hekma, adding homes, stores and wellness facilities to the UAE-backed $35 billion project. 

🏗️ Canal Growth: Egypt’s Suez Canal Economic Zone signed seven investment agreements spanning logistics, manufacturing and clean energy, including Agility’s $35 million logistics hub and China’s Zenith Group’s $300 million tire components factory.

🕳 Digging Deeper: Saudi Arabia’s Ades Holding has won drilling contracts totaling $229 million in the U.K. and Nigeria.

🏠 Plush Stay: A luxury Emirates Hills villa known as “The Palace” has been leased for a record-breaking $4.6 million for one year, making it Dubai’s most expensive rental property to date.

🤝 Trade Reset: Lebanon and Syria said they agreed to begin renegotiating decades-old trade pacts in the coming months as the neighbors seek to rebuild economic ties after Bashar al-Assad’s ouster and restore key export routes to Jordan and the Gulf.

💰 Retrieving Focus: UAE’s telco group e& is pulling back from its global expansion plans as new CEO Masood M. Sharif Mahmood refocuses on its core telecommunications business, Reuters reports.

🔋 Clean Sources: Surging energy costs and grid instability due to the conflict with Iran have boosted global demand for rooftop solar and home batteries, Bloomberg reports.

🍞 Hormuz Dilemma: Iran and Oman could raise about $6.8 billion annually by charging oil tankers transit fees through the Strait of Hormuz, based on a proposed $1-per-barrel levy that has been discussed but not formally agreed upon, according to Oxford Economics.

UAE President Sheikh Mohamed bin Zayed held a phone call with Oman’s Sultan Haitham bin Tariq to discuss regional developments. 

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, held a phone call with Kuwait’s Minister of Foreign Affairs, Sheikh Jarrah Jaber Al-Ahmad Al-Sabah.

Sheikha Latifa bint Mohamed, chairperson of the Dubai Culture & Arts Authority and a member of the Dubai Council, met with Roxie Houge, acting U.S. Consul General, during the American University of Dubai’s 29th Commencement Ceremony.

Edward Winter, formerly of BlackRock and Macquarie, has been hired by the Abu Dhabi Investment Council as chief investment officer to lead its real assets business.

Mohamed Nedham Khonji was appointed as chairman of Bahrain Family Leisure Co., which owns restaurants, cafés and a central kitchen for food delivery services. 

Abdullah Al-Swaha, Saudi Minister of Communications and Information Technology, held several meetings in South Korea with government ministers and heads of investment and technology firms.

Antoine Delcourt, Belgium’s Ambassador to the UAE, received the First-Class Order of Independence presented by Noura Al Kaabi, UAE Minister of State, on behalf of the UAE President Sheikh Mohamed bin Zayed, on the occasion of the end of his tenure.

🎲 Game On: Louvre Abu Dhabi is opening “A Board Game Adventure,” a new Children’s Museum exhibit tracing 5,000 years of games from ancient Egypt to the new era of artificial intelligence. Opening Saturday, the interactive show combines 24 historical objects with digital challenges to explore how chess, mancala, ludo and other games have connected cultures across generations, The National reports. Among the earliest pieces on display is Mehen, also known as the Game of the Snake, which was played in ancient Egypt between 4,000 and 5,000 years ago. Its spiral board took the form of a coiled serpent, with pieces moving towards its head.

📷 Photo of the Day

August 18-19, Dubai. Middle East Event Show. Bringing together professionals from the events industry. Dubai World Trade Center.  

August 28-Sept. 6, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition. An annual event celebrating traditional Emirati heritage and culture. ADNEC Center.

August 31-Sept. 3, Riyadh. LEAP Expo Riyadh. A major tech trade show for the Middle East, which includes a global startup live pitch event. RECC Malham.

Sept. 11-13, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles. ADNEC Center.  

Sept. 13-18, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC Center.

Sept. 17-19, Abu Dhabi. International Real Estate & Investment Show 2026. An event targeting investors and consumers rather than trade visitors. ADNEC Center.

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. ADNEC Centre.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center. 

BANKERS ON BOARD

JPMorgan is accelerating its expansion across Europe, the Middle East and Africa, hiring 30 senior bankers by year-end. The recruits will support the firm’s effort to facilitate $1.5 trillion in financing for industries tied to national security, including up to $10 billion of its own capital, Reuters reports. JPMorgan has doubled its workforce in the Middle East, North Africa, Turkey and Poland over the past two years and plans to increase staffing in those markets by another 60% over the next five years. The bank also said it has expanded lending in the Middle East as the U.S.-Iran conflict prompted some competitors to pull back from the region. 

CYBER SLEUTHS 

Saudi Arabia will host the world’s largest “Capture the Flag” cybersecurity competition in Riyadh during its Black Hat Middle East and Africa 2026 event in December, offering more than $210,000 in prizes and bringing together 150 finalist teams. The competition will feature games designed to develop cybersecurity technical skills, foster innovation and attract global talent, Arab News reports. Black Hat MEA drew more than 45,000 visitors last year from over 140 countries.

Saudi Aramco: BlackRock and Vanguard increased their holdings in the world’s biggest oil company to record levels in the first half of 2026, adding 30.6 million shares that gave their combined stake a market value of about $3.2 billion. Meanwhile, Halliburton secured a multi-year contract from Aramco to deliver integrated stimulation and completion services using AI to improve operational efficiency and reliability.

Public Investment Fund: Saudi Downtown Co., a subsidiary of the Saudi sovereign wealth fund, hired Ansab General Contracting to develop infrastructure, roads and street lighting in the kingdom’s eastern city of Al-Khobar.

Oman Investment Authority: Future Fund Oman, an OIA portfolio, announced 105 strategic projects and investments worth $1.7 billion.

💵 Green Funding: IFC, the private sector arm of the World Bank, will invest up to $100 million and provide up to $690,000 in financing for Jordan Kuwait Bank’s second green bond to fund climate-focused projects.

🏠 Expanding Houses: Orascom for Real Estate secured a $356 million 10-year syndicated loan from CIB, Banque Misr, and NBE to fund its O West project in West Cairo.

🤝 Military Deals: The U.S. State Department approved a series of potential military sales to Saudi Arabia worth almost $2 billion and to Kuwait worth $484 million.

✈️ Aircraft Market: Airbus is in talks to sell additional A330neo widebody aircraft to Saudi low-cost carrier Flynas with a possible announcement at next week’s Farnborough Airshow, Reuters reports. 

🛠️ Iraqi Export: The U.S. is backing efforts by Iraq and Syria to revive the Kirkuk-Baniyas crude pipeline that enables export of Iraqi oil to Europe, with American companies expected to support its reconstruction.

📁 Activist Disclosure: The U.S. Securities and Exchange Commission is requiring activist hedge funds to disclose their backers, potentially exposing Gulf family offices that quietly co-invest in U.S. markets, The National reports.

💰 Eyeing Africa: A wave of more than $9 billion in Gulf investment announcements over the past 18 months signals growing investor interest in Algeria, led by Qatar’s $3.5 billion Baladna dairy project.

UAE President Sheikh Mohamed bin Zayed met with Qatar’s Emir Sheikh Tamim bin Hamad Al Thani on Wednesday to offer his condolences on the death of the former Emir, Sheikh Hamad bin Khalifa Al Thani.

Sheikh Sultan bin Ahmed, Deputy Ruler of the northern emirate of Sharjah and President of the University of Sharjah, inaugurated the university’s Innovation Hub on Wednesday, which is part of the strategic partnership between the University and UAE telco group e&.

Prince Faisal bin Farhan, the Saudi Foreign Minister, met with Syrian Foreign Minister Asaad Al Shaibani in Riyadh on Wednesday.

Sultan Ahmed Bin Sulayem, the former Chairman and CEO of DP World, has taken direct control of Malaysia’s MMC Port Holdings as Executive Chairman, assuming day-to-day leadership after the company’s chief executive stepped down.

Ahmed Alsuwaiyan, Governor of Saudi Arabia’s Digital Government Authority, wrapped up visits to Hong Kong and China, where he met government officials and technology leaders to discuss cooperation on AI, digital governance and public digital infrastructure.

Suhail Al Mazrouei, Minister of Energy and Infrastructure and Chairman of the UAE Logistics Integration Council, chaired the council’s second meeting of 2026 on Wednesday.

Andi Syamsuddin Arsyad, an Indonesian entrepreneur close to President Prabowo Subianto, who is known for funding free trips to Mecca for Muslim countries, is the subject of a Bloomberg profile.

Syed Basar Shueb, CEO of Abu Dhabi’s International Holding Co. and Vice Chairman of Alpha Dhabi Holding, was spotted in the U.S. attending a FIFA World Cup match with his son.

🔮 Beyond Tomorrow: Dubai’s Museum of the Future will close to visitors in mid-September to replace all of its major exhibitions, with a completely redesigned visitor experience set to open in early 2027. The overhaul will retire the museum’s original exhibits more than four years after its 2022 debut and introduce a new narrative and interactive displays, The National reports. Museum officials said the refresh was always part of the plan to keep pace with advances in science, technology and society.

📷 Photo of the Day

August 18-19, Dubai. Middle East Event Show. Bringing together professionals from the events industry. Dubai World Trade Center.  

August 28-Sept. 6, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition. An annual event celebrating traditional Emirati heritage and culture. ADNEC Center.

August 31-Sept. 3, Riyadh. LEAP Expo Riyadh. A major tech trade show for the Middle East, which includes a global startup live pitch event. RECC Malham.

Sept. 11-13, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles. ADNEC Center.  

Sept. 13-18, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC Center.

Sept. 17-19, Abu Dhabi. International Real Estate & Investment Show 2026. An event targeting investors and consumers rather than trade visitors. ADNEC Center.

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. ADNEC Centre.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center. 

IRAQ CONNECTION

President Donald Trump said the U.S. will announce “massive” new oil deals with Iraq within days after hosting Prime Minister Ali al-Zaidi at the White House. The agreements would support Iraq’s efforts to boost oil and gas production after the Iran war disrupted exports and strained government finances. The Oval Office meeting on Tuesday came as Iraq presses OPEC for higher production quotas to make up lost sales and has raised the possibility of eventually leaving the producer group, like the UAE. Trump, meanwhile, ​discarded the idea of charging a 20% fee ‌on all cargo shipped through the Strait of Hormuz, and said he would instead solicit investment deals with the ​Gulf states.

PROPERTY SLUMP

A property boom in the UAE emirate of Ras Al Khaimah is losing momentum as project delays, rising construction costs and the Iran war take their toll. Years of expansion following the announcement of the Wynn Al Marjan Island casino resort in 2022 have left developers facing a crowded pipeline, with registered projects more than doubling. Several developments have been delayed, canceled or put on hold as contractors confront supply chain disruptions, Arabian Gulf Business Insight reports. Government data shows the slowdown is spreading, with sales values dropping 55% year-on-year in January and mortgage activity plunging 88%.

Mubadala: Bahrain’s Investcorp, which is backed by the Abu Dhabi sovereign wealth fund, said its U.S.-based Guardian Fire Services portfolio company acquired Nebraska’s Midwest Protection Services.

International Holding Co.: The Abu Dhabi-owned conglomerate’s ePointZero unit completed its $2.25 billion acquisition of Traverse Midstream Partners, gaining minority stakes in the Rover Pipeline and Ohio River System in its first investment in U.S. natural gas infrastructure.

L’Imad Holding Co.: PureHealth, backed by the Abu Dhabi sovereign wealth fund, is teaming up with Aldar Properties to develop health-focused communities that integrate wellness, preventive care and technology into residential neighborhoods across the UAE.

Abu Dhabi Investment Authority: ADIA acquired a 0.89% stake in Indian building materials supplier SG Mart for $7.6 million and also participated as an anchor investor in SBI Funds Management’s $1.2 billion IPO.

🚽 Waste Opportunity: Saudi-based Alkhorayef Water and Power Technologies Company has secured $44 million in contracts to provide services for water and wastewater facilities across the Al Khobar and Riyadh regions. 

🏘️ Property Appeal: Real estate transactions in the UAE emirate of Sharjah reached AED29.5 billion ($8 billion) for the first half of 2026, up 9.3% on the same period last year.

 🦖 Rex Record: Speculation is mounting over the identity of the mystery buyer of a Tyrannosaurus Rex skeleton named Gus, which sold for $50.1 million at Sotheby’s, Bloomberg reports. Stan, the T. Rex sold to a UAE entity for $31.8 million in 2020, was recently put on display at the Natural History Museum Abu Dhabi.

✈️ Flight Risk: The European Union Aviation Safety Agency has raised its threat level for airlines traveling through the Middle East, instructing airlines to avoid crossing through the air spaces of Bahrain, Kuwait, Qatar, the UAE and the Gulf of Oman until July 29, Bloomberg reports.

💼 New Arrival: Monaco-based wealth manager Azura Partners has opened an office in Abu Dhabi Global Market. 

🪙 Digital Approval: U.K. fintech Revolut has received in-principle approval from Dubai’s Virtual Assets Regulatory Authority, moving a step closer to securing a full license to launch cryptocurrency services in the UAE.

✅ Delisting Syria: The U.S. decision to remove Syria from its list of state sponsors of terrorism clears a major obstacle to Gulf trade and investment, AGBI reports.

Qatar’s Emir Sheikh Tamim bin Hamad Al Thani continued to receive foreign leaders offering condolences on the passing of the late Sheikh Hamad bin Khalifa Al Thani at Lusail Palace on Tuesday and Wednesday. Guests included Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court; Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs; Jordan’s Crown Prince Hussein bin Abdullah II; German President Frank-Walter Steinmeier; French Prime Minister Sebastien Lecornu; and Prince Edward, the Duke of Edinburgh. Sheikh Tamim also received a phone call from U.S. President Donald Trump on Tuesday.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, held a phone call with Nabil Fahmy, Secretary-General of the League of Arab States.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the Board of Directors of Abu Dhabi Fund for Development , chaired the fund’s first board meeting for the year at Qasr Al Watan in Abu Dhabi.

Noor bint Ali Alkhulaif, CEO of Bahrain’s Economic Development Board, talked to Fortune about the agency’s efforts to win investors despite mounting headwinds, amid her five-day visit to the U.K. aimed at deepening economic ties.

Lana Nusseibeh, UAE Minister of State, has told The National that the Strait of Hormuz must be reopened using diplomatic and defensive means.

Khalifa Mohammed Alshehhi was appointed CEO of Neurovia AI, an AI visual data processing and compression technology company of Robo.ai. 

🎸 Rock On: Saudi Arabian alternative rock band Gimmix is embarking on a first international tour, taking its blend of energetic rock, indie and hip-hop through Finland and the Baltic region this week. Founded in 2017 – the same year that Saudi Arabia lifted its decades-long ban on large-scale live music in public – the band has steadily become one of Saudi Arabia’s best-known alternative acts, even opening for Guns N’ Roses in Riyadh last May. That appearance “definitely raised our expectations of ourselves and what we’re capable of,” founding member Abdullah Aldhamin told Arab News.

📷 Photo of the Day

August 18-19, Dubai. Middle East Event Show. Bringing together professionals from the events industry. Dubai World Trade Center.  

August 28-Sept. 6, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition. An annual event celebrating traditional Emirati heritage and culture. ADNEC Center.

August 31-Sept. 3, Riyadh. LEAP Expo Riyadh. A major tech trade show for the Middle East, which includes a global startup live pitch event. RECC Malham.

Sept. 11-13, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles. ADNEC Center.  

Sept. 13-18, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC Center.

Sept. 17-19, Abu Dhabi. International Real Estate & Investment Show 2026. An event targeting investors and consumers rather than trade visitors. ADNEC Center.

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. ADNEC Centre.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center.