MAGIC HAPPENS

Abu Dhabi’s Yas Island has been selected as the home for Disney’s seventh theme park – the first in the Middle East – in a major coup for the UAE capital. The park will be built by Miral Group, with creative design and operational oversight led by Disney. Announcing the agreement at the W Abu Dhabi – Yas Island yesterday alongside Mohamed Khalifa Al Mubarak, Chairman of the Department of Culture and Tourism Abu Dhabi, Disney CEO Bob Iger said the park would be “authentically Disney and distinctly Emirati, an oasis of extraordinary Disney entertainment that is at the crossroads of the world.” Arab leaders have been courting Disney for years, with Iger reportedly saying in 2018 that Saudi Crown Prince Mohammed bin Salman had made an “impassioned plea” for a theme park in the kingdom, which Disney dismissed at the time as a cultural mismatch. 

GROWING ASSETS

Mubadala Investment Co., Abu Dhabi’s second-largest sovereign wealth fund, grew more than 9% last year, with assets under management reaching $327 billion. In a 2024 earnings statement released today, Mubadala cited its co-founding of the MGX tech fund specializing in AI investments as a highlight of the year’s activities. Also notable were its establishment of satellite company Space 42 through a merger, co-investments in real estate with Aldar Properties, and private credit lending in partnership with Apollo, Goldman Sachs, Carlyle and other U.S. money managers. “Our portfolio has been constructed to navigate market cycles and scale future-focused sectors – from AI and clean energy to life sciences, semiconductors, and advanced manufacturing,” Group CEO Khaldoon Al Mubarak said.

Public Investment Fund: The PIF announced on Wednesday that it has become the title partner of five revamped Ladies European Tour golf events, now called the PIF Global Series, expanding its investment in the women’s professional circuit across cities including Riyadh, Seoul, London, Houston, and Shenzhen.

Public Investment Fund: Saudi Arabia’s Ministry of Culture signed an agreement with PIF-owned hospitality company Boutique Group to promote the kingdom’s heritage, Arab News reports.

Abu Dhabi Investment Authority: Chinese Vice Premier He Lifeng held talks in Beijing on Wednesday with Majed Al Romaithi, Chairman of the Management Committee of ADIA. Al Romaithi said that the sovereign is optimistic about China’s economic prospects.

ADQ: Abu Dhabi Ports Group has signed a strategic cooperation agreement with Bintulu Port Holdings Berhad, the operator of Malaysia’s Bintulu Port on the island of Borneo.G42: Inception, a G42 company, signed an agreement with cybersecurity firm CPX to accelerate AI innovation and bolster cyber defence across industries.

🛵 Eating App: Deliveroo, the British food-delivery company with operations in nine countries, including the UAE, Kuwait and Qatar, was bought by San Francisco-based DoorDash for close to $3.9 billion.

✈️ Flying High: Dubai Aerospace Enterprises completed its $2 billion acquisition of Ireland’s Nordic Aviation Capital, giving the UAE company some 750 aircraft that it either owns, manages or for which it holds a commitment.

💲 Lender Funds: Egypt’s SME lender Tasaheel closed a record $49 million corporate bond issuance to meet rising loan demand, with CI Capital managing the deal and proceeds supporting its expanding fintech services.

💍 Record Split: Abu Dhabi’s Civil Family Court has settled its biggest ever no-fault divorce case involving an expatriate couple, with a settlement exceeding AED100 million ($27 million), The National reports.

🇲🇦 Airport Expansion: Morocco is identifying bidders for the construction of a new $1.6 billion terminal at Casablanca’s Mohammed V Airport that will increase its capacity by 20 million passengers in time for co-hosting soccer’s World Cup in 2030.

🛢️ Russia Sanctions: The European Union is looking into imposing sanctions on Litasco Middle East, a Dubai-based trading unit of Russian oil giant Lukoil, as part of an effort to crack down on a covert fleet of tankers run by Moscow, Bloomberg reports.

🔋 Green Crane: DP World, the world’s largest container port operator, is piloting a hydrogen-powered crane at its Vancouver terminal to reduce diesel use and lower carbon emissions.

👍 Go Ahead: The U.S. has approved a Qatari plan to fund Syria’s public sector, providing crucial support to President Ahmed al-Sharaa’s government amid post-war reconstruction efforts, Reuters reports. 

UAE President  Sheikh Mohamed bin Zayed met Sahiba Gafarova, Speaker of the National Assembly of Azerbaijan, who is on an official visit to the UAE. The meeting, which took place at Qasr Al Shati palace in Abu Dhabi, was attended by Saqr Ghobash, Speaker of the UAE Federal National Council.

Sheikh Abdullah bin Zayed, UAE Deputy Prime Minister and Minister of Foreign Affairs, met on Thursday with Yoweri Museveni, President of Uganda, at the beginning of his working visit to Uganda. 

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, chaired the Ministerial Development Council meeting at Qasr Al Watan palace, reviewing development proposals from ministries and federal entities.

Steven Ciobo, a former Australian Minister of Defense Industry, and Fadi Kerbaj, who recently joined from Tribe Infrastructure Group, will head up the new office of $73 billion infrastructure investment firm Stonepeak in Riyadh, Bloomberg reports. 

Prasad Chari, Senior Managing Director, Equity Capital Markets at Emirates NBD told WAM that  capital markets in the UAE are demonstrating increasing resilience in the face of various global volatilities.

Aloke Gupte, Managing Director and Co-Head of Equity Capital Markets, International for EMEA and APAC at JPMorgan told Zawya that IPOs in the GCC were shielded from global turbulence.Bandar Alkhorayef, Saudi Minister of Industry and Mineral Resources, held discussions with Bruno Even, Airbus Helicopters CEO, on creating joint investment opportunities in helicopter manufacturing and maintenance at the company’s headquarters in France.

Ahmed Jassim Al-Zaabi, Chairman of the Abu Dhabi Economic Development Department, and Chairman of the Board of Directors of the Abu Dhabi World Market, met with Shahab Ahmed Mohammed Abdulrahim Al-Faheem, UAE Ambassador to Japan; Abdullah Al-Khoury, Executive Director, Strategic Affairs Sector, Abu Dhabi Quality and Conformity Council; Abdul Rahman Al Mazrouei, the Director, Business Relations & Protocol, Abu Dhabi Global Market; and Hader AlDhaheri, Marketing specialist at ADGM. 

Jon Gray, President of Blackstone, is donating $125 million to Tel Aviv University’s medical school, which will bear his name.

🍵 Matcha Making: Matcha, the bright green Japanese ceremonial tea, is gaining popularity in Saudi Arabia thanks to the wellness industry and a growing interest in international food and beverages. Trendy drinks including matcha lattes are now a common item on cafe menus, Arab News reports, with the kingdom’s green tea market, now worth $140 million, projected to grow to $229 million by 2033.

April 25 – May 11, Dubai. Dubai Esports and Gaming Festival. Dubai’s gaming and esports extravaganza brings together global players, creators, fans, and industry leaders. Dubai World Trade Center. 

May 12-13, Dubai. Dubai FinTech Summit. Exploring a future where finance is accessible, inclusive, and empowering. Madinat Jumeirah.

May 13, Riyadh. Saudi-U.S. Investment Forum. An invitation-only event to be held during U.S. President Donald Trump’s visit to Saudi Arabia. The forum will bring together government, business, finance and innovation to discuss the next chapter of business between the two countries. Venue TBA.

May 13-14, Dubai. Low Carbon Fuels MENA. The conference promises a space for industry leaders, potential partners, and innovators to discuss potential opportunities and challenges. Sheraton Dubai Creek Hotel & Towers.  

May 13-15, Dubai. CABSAT. The Middle East & Africa’s leading event for content, broadcast, media & entertainment industry professionals looking to leverage the latest technology and innovation in creating the next-gen content. Dubai World Trade Center.

May 13-15, Dubai. World Police Summit. Uniting law enforcement professionals, policymakers, industry leaders, and innovators to redefine the standards of modern policing. Dubai World Trade Center.

May 14-15, Dubai. HODL. Formerly known as the World Blockchain Summit, the event transforms to HODL to incorporate business opportunities, investor connections and regulatory dialogues. Madinat Jumeirah. 

May 16, Milan. Investopia Europe 3rd Edition. Highlighting discussions around transforming the global economy. Featured speakers include Abdulla bin Touq Al Marri, UAE Minister of Economy and Chairman of Investopia, and UAE Minister of State for Entrepreneurship Alia Abdulla Al Mazrouei. Palazzo Mezzanotte.

May 16-17, Tirana, Albania. FII Priority Europe 2025. Saudi Arabia’s Public Investment Fund sponsors a regional business summit focused on Europe and is affiliated with the annual Future Investment Initiative conference in Riyadh. National Theater of Opera and Ballet.

May 19-22, Abu Dhabi. Make it in the Emirates. The  UAE’s premier manufacturing event, uniting innovators, investors, and policymakers to shape the future of industry. ADNEC.

May 20-22, Doha, Qatar. Qatar Economic Forum. Annual conference bringing together Qatari government and business leaders with corporate executives, investors and policymakers from around the world. Media City Qatar.

May 26-27, Abu Dhabi. Building the Future Summit. This Forbes event serves as an exclusive platform for industry leaders, investors, architects, and innovators to explore the latest trends shaping the future of real estate. Louvre Abu Dhabi.

May 29-30, Tripoli, Libya. Building the Future Summit. A Forbes event that is designed to help delegates from Libya understand their investment opportunities, foster strategic partnerships, and showcase key reforms that will drive economic progress. Venue TBA.