ROBOT RIDES

Apollo Go, the ride-hailing platform owned by Chinese tech company Baidu, will be the first company to test fully driverless vehicles in Dubai, after receiving a permit from the emirate’s Road Transport Authority. The authorization comes as Baidu officially launched a hub for autonomous vehicles in downtown Dubai, which includes charging and maintenance facilities and will eventually serve as a command center for a fleet of more than 1,000 robotaxis. Uber and WeRide launched fully driverless taxis in parts of neighboring emirate Abu Dhabi in November. Both emirates have ambitious plans for driver automation, with Dubai targeting 25% autonomous total transportation by 2030 and Abu Dhabi setting a similar goal for 2040.

AI INFLUENCERS

The existential threat of artificial intelligence to Dubai’s influencer economy was the topic du jour as the enormous 1 billion Followers Summit kicked off across key Dubai landmarks today. The summit, which attracts more than 15,000 top Arab and global creators including the likes of YouTube star MrBeast, features more than 500 speakers taking part in keynote sessions, roundtables, debates and workshops over three days. Egyptian content creator Farah El Kordy and Dhairya Patel, who represents “virtual influencer” Lil Miquela, used a panel discussion to debate whether AI influencers would take over social media. Day 2 features a “fireside chat” with Lara Trump, the wife of U.S. President Donald Trump’s son Eric, who hosts a FOX News show and promotes fitness brands. Among the other guests are U.S. actor and producer Will Smith, Emaar Founder Mohamed Alabbar, and retired English soccer star Rio Ferdinand.

ADQ: AD Ports Group announced a series of senior executive appointments to its Logistics Cluster, including Björn Eckbauer as Senior Vice President of Global Air Freight Development and Procurement and Boris Kuehn as Senior Vice President of Mergers and Acquisitions.

Oman Investment Authority: Oman’s state-owned OQ Gas Networks plans to invest nearly $1 billion to build a new 200-kilometer (124-mile) hydrogen pipeline network.

Public Investment Fund: ​​Kathryn Wylde, former CEO of the Partnership for New York City business organization, has held talks about working for the Saudi sovereign wealth fund, the New York Post reports.

📈 Bond Demand: Abu Dhabi-based Dhafrah PV2 Energy Company raised $870 million through a long-term green bond. 

🏢 Tower Launch: Dubai-traded Union Properties has launched Mirdad Tower 2, the second of four towers in its approximately $545 million Mirdad development in Dubai’s Motor City.

✈️ Terminal Deal: Morocco awarded the $1.3 billion contract for the new terminal at Casablanca Mohammed V Airport to a Moroccan consortium led by SGTM and TGCC.

🚁 Flying Vehicles: Barq Group signed an agreement with U.S.-based Elroy Air to form a $200 million joint venture to build a manufacturing facility in Abu Dhabi producing the Chaparral autonomous hybrid-electric VTOL cargo aircraft.

⛽Gas Side: Lebanon has has signed an agreement with QatarEnergy, TotalEnergies, and Eni for offshore gas exploration in its Block 8 area.

💰 Open Market: Kuwait plans to boost private investment and improve public services by appointing a consultant to solicit new bids on 23 state-backed projects across real estate, infrastructure and municipal assets.

⚖️ Gas Investment: Jordan is advancing a new law to attract investment in hydrogen, biomethane and related projects by regulating gas sales, import, transport, distribution and storage.

🚀 Tourism Sector: Saudi Arabia’s tourism workforce surpassed one million in the third quarter of 2025, up 6.4 percent year on year,

⛏️ Mining Giants: Rio Tinto and Glencore have resumed talks on a potential all-share merger that could create a nearly $200 billion global mining giant to rival BHP as the world’s biggest.

UAE President Sheikh Mohamed bin Zayed met with Massad Boulos, the White House Senior Advisor for Arab and African Affairs, at Qasr Al Shati palace in Abu Dhabi on Thursday.

Sheikh Hazza bin Zayed, the UAE Ruler’s Representative to Al Ain, met on Thursday with Sheikh Zayed bin Hamdan, Chairman of 2PointZero, and Mariam bint Mohammed Almheiri, Vice Chair of 2PointZero, along with Syed Basar Shueb, CEO and Managing Director of International Holding Co., who is a 2PointZero board member.

Sheikh Abdullah bin Zayed, UAE Deputy Prime Minister and Minister of Foreign Affairs, appointed Maqsoud Kruse as Envoy of the Minister of Foreign Affairs for Countering Extremism and Terrorism.

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, held a phone call with his Iraqi counterpart Fuad Hussein on Thursday. Prince Faisal also held a phone call with his Syrian counterpart Asaad Al-Shaibani.

Sheikh Theyab bin Mohamed, Deputy Chairman of the Presidential Court for Development and Martyrs Families Affairs and Chairman of the Board of Trustees of Erth Zayed, led the foundation’s board meeting to discuss its strategic directions for 2026.

Mario Balotelli, the Italian soccer star, is expected to sign a contract to play with the UAE’s Al Ittifaq team, in one of the biggest signings in UAE football history, The National reports.

Paul Griffiths, CEO of Dubai Airports, was appointed as the new “CEO Champion” of the U.K.’s Sustainable Aviation Fuel Pathfinder Initiative.

Shoeil Al-Ayed, CEO of Riyadh Cement Co., told Al-Eqtisadiah the company expects to fully rely on natural gas as an alternative to liquid fuel in its operational processes by 2027.

🦋 Winging It: The sight of 10,000 rainforest-loving butterflies in the desert climate of the UAE might seem improbable, but two new tropical biodomes have brought the unlikely vision to reality. The Butterfly Gardens Abu Dhabi opens today next to The National Aquarium at Al Qana. The domes, which mirror the environment of butterfly habitats in Asia and central South America, also house other species of insects, tarantulas and small exotic animals including a family of sloths and a pair of Palawan bearcats.

Jan. 9-11, Dubai. 1 Billion Followers Summit. A gathering of global content creators to 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 policymakers 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.26-27, Riyadh. Super Return. A major private equity & venture capital conference held in Riyadh, Saudi Arabia.The Fairmont Hotel. 

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

Jan.29, Dubai. The Great Marketing & Business Minds. In this 4th edition, the event brings the most influential marketing and business leaders for a deep dive into performance-driven marketing, data integration, and the evolving accountability of brand leadership. Pullman Dubai Downtown.

Feb 1-6, Dubai. Dubai Fashion Week. The event showcases the latest collections by global and regional designers and positions Dubai as a major creative hub on the global fashion calendar alongside fashion capitals like New York, London, Milan and Paris. Dubai Design District.

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. 

Feb. 3-5, Dubai. World Government Summit. Brings together heads of state, policy makers, top corporate executives to debate global priorities. Madinat Jumeirah. 

Feb. 4-5, Dubai. PropTech Connect Middle East. The Dubai Land Department will host the first regional edition of the real estate technology event. Grand Hyatt Dubai.

Feb. 10-11, Abu Dhabi. Top Advisors & Investors Summit. The event will convene the region’s foremost advisors, financiers, and investors in the UAE capital. TBC

Feb.12-13, Riyadh. PIF Private Sector Forum. The event, in its third edition, aims to support the Saudi Public Investment Fund’s Private Sector Engagement Strategic Initiative. King AbdelAziz International Conference Center.

AI GETS POSH

A new Saudi-backed partnership is putting artificial intelligence to work at the kingdom’s new luxury seaside resorts. Red Sea Global and Bunat Ventures are launching an AI venture fund targeting startups, with plans to back about 25 budding firms a year, Arab News reports. Beyond funding, the program will give founders access to RSG’s resorts, airport operations and other assets as testing grounds. The partners say the effort is designed to strengthen Saudi Arabia’s innovation ecosystem, attract talent and support the kingdom’s broader push into advanced technologies.

BACK FOR MORE

Just a day after the Qatar Investment Authority was named among investors in a $20 billion fundraising for Elon Musk’s xAI, another one of its big AI bets, Anthropic, was reported to be in talks to raise another $10 billion. The AI startup behind ChatGPT competitor Claude is seeking funding at a $350 billion valuation, which has almost doubled since it raised $13 billion from investors including the QIA just four months ago. Singapore’s sovereign wealth fund GIC, and Coatue Management are leading the new financing, with Microsoft and Nvidia also expected to take part, Bloomberg reports. The QIA and Abu Dhabi fund MGX were among a cohort putting new funds into xAI, the start-up behind generative AI chatbot Grok and social media platform X, it was announced on Wednesday. 

Public Investment Fund: PIF-owned Diriyah Co. signed a joint development deal with Midad Real Estate Investment & Development Co. to build the Four Seasons Diriyah Hotel and private residences. 

G42: Abu Dhabi Police and UAE-based AI spacetech company Space42 signed a preliminary agreement to collaborate on smart security and autonomous vehicle systems.

Aramco: Saudi petrochemical giant SABIC’s shares fell 5% after it announced it will sell $950 million worth of assets across Europe and the Americas as part of a restructure.

Mubadala: Galp Energia is in early talks with the owners of Spain’s Moeve, owned by Mubadala and Carlyle, about combining their Iberian downstream assets through two joint ventures in retail and industrial energy activities, Bloomberg reports.

Abu Dhabi Fund for Development: The government fund launched a new Abu Dhabi Global Water Platform to invest $2 billion in innovative water projects worldwide by 2030.

🎭 Fun Fund: Abu Dhabi firm Ethmar International Holding and Los Angeles-based Guggenheim Brothers Media announced they would launch an investment fund in Abu Dhabi focused on media and digital entertainment.

🚰 Blue Bonds: UAE-based lender Emirates NBD raised $1 billion in so-called blue and green bonds aimed at supporting environmental objectives.

🏦 Bond Demand: Israel sold $6 billion of bonds in an oversubscribed international debt offering, an indication that the country’s fiscal position is rebounding since a ceasefire in Gaza took effect in October.

🛫 Debts & Jets: Saudi Arabia and Pakistan are in talks to convert about $2 billion of Saudi loans into a JF-17 fighter jet deal, deepening military cooperation months after the two nations signed a mutual defense pact, Reuters reports.

🌐 Wifi Connection: Qatar Airways has become the first airline to enable Starlink on the Boeing 787-8, with nearly 120 widebody aircraft now connected after equipping its entire Airbus A350 fleet in a record eight months.

🛢️ Oil Nationals: Iraq has appointed the state-run Basra Oil Company to manage operations at the West Qurna-2 oilfield, in line with its service contract with Russia’s Lukoil.

🍼 Milk Recall: UAE, Kuwait and Qatar joined Saudi Arabia in recalling and warning consumers over some brands of Nestle baby formula, which have shown traces of a toxic substance.

🚆 Next Stop: Etihad Rail has announced additional passenger stations across the emirates of Abu Dhabi and Sharjah, to open in phases ahead of the service’s launch this year.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, chaired a meeting of the Ministerial Development Council at Qasr Al Watan palace in Abu Dhabi on Wednesday.

Prince Faisal bin Farhan, the Saudi Foreign Minister, met with U.S. Secretary of State Marco Rubio in Washington on Wednesday, one day after he met with Massad Boulos, the U.S. Senior Adviser for Arab and African Affairs, along with Prince Khalid bin Salman, Saudi Arabia’s Defense Minister, and other officials. 

Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah, President and Chairman of the University of Sharjah, chaired the 60th meeting of the board at the university.

Nigel Farage, the Reform U.K. party leader who has criticized Prime Minister Keir Starmer for taking gifts from donors, met officials in the UAE and attended last month’s Formula One car race on a trip paid for by the Abu Dhabi government, the Financial Times reports.

Amer Bisat, Lebanon’s Economy Minister, said in an interview with Bloomberg TV that the country’s Central Bank is now strong enough to support a plan to pay back depositors whose money has been trapped for years..

Selim Kervanci, CEO of HSBC Middle East, told Bloomberg that the bank is seeing growing interest from Asian firms looking to expand in the region.

Samir Akel was appointed Regional Vice President for Emerging Markets at Nintex, a maker of business automation systems.

Neil Budd was appointed CEO of Finshape, which helps banks implement digital banking operations.

🎸 Sea Shanty: The rich tradition of Kuwaiti pearl-diving music, which boosted morale during long and perilous journeys at sea, is the inspiration behind UAE-based band Boom. Diwan. The band is gearing up to perform at NYU Abu Dhabi’s Red Theater next Wednesday, alongside international guests. Musician Ghazi Al Mulaifi joined The National’s Culture Bites podcast ahead of the performance to talk about his own family’s history of pearl diving and how his band has revived the rhythms of traditional music in a Khaleeji jazz-fusion style. 

Jan. 9-11, Dubai. 1 Billion Followers Summit. A gathering of global content creators to 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 policymakers 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.26-27, Riyadh. Super Return. A major private equity & venture capital conference held in Riyadh, Saudi Arabia.The Fairmont Hotel. 

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

Jan.29, Dubai. The Great Marketing & Business Minds. In this 4th edition, the event brings the most influential marketing and business leaders for a deep dive into performance-driven marketing, data integration, and the evolving accountability of brand leadership. Pullman Dubai Downtown.

Feb 1-6, Dubai. Dubai Fashion Week. The event showcases the latest collections by global and regional designers and positions Dubai as a major creative hub on the global fashion calendar alongside fashion capitals like New York, London, Milan and Paris. Dubai Design District.

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. 

Feb. 3-5, Dubai. World Government Summit. Brings together heads of state, policy makers, top corporate executives to debate global priorities. Madinat Jumeirah. 

Feb. 4-5, Dubai. PropTech Connect Middle East. The Dubai Land Department will host the first regional edition of the real estate technology event. Grand Hyatt Dubai.

Feb. 10-11, Abu Dhabi. Top Advisors & Investors Summit. The event will convene the region’s foremost advisors, financiers, and investors in the UAE capital. TBC

Feb.12-13, Riyadh. PIF Private Sector Forum. The event, in its third edition, aims to support the Saudi Public Investment Fund’s Private Sector Engagement Strategic Initiative. King AbdelAziz International Conference Center.

CHATBOT BILLIONS

The Qatar Investment Authority and Abu Dhabi fund MGX have raised their stakes in xAI, joining a cohort of investors in an upsized $20 billion funding round for Elon Musk’s ChatGPT competitor. The start-up behind generative AI chatbot Grok and social media platform X initially planned to raise $15 billion. The company has more than doubled its valuation since it raised $10 billion in July, delivering a paper windfall to the Gulf funds, which already hold shares alongside Saudi Prince Alwaleed bin Talal’s Kingdom Holdings. The fresh funds will partly be used in xAI’s aggressive infrastructure push, which includes building a 500-megawatt data center in Saudi Arabia in a deal inked with Nvidia and the kingdom’s AI flagship Humain during Saudi Crown Prince Mohammed bin Salman’s visit to Washington in November.

CREATIVE WATERFRONT

Dubai’s Design District is set to be transformed from blocks of warehouse-like buildings into a sprawling, canal-lined neighborhood with a “pedestrian-first spine” to encourage year-round walking. The masterplan, led by developer Meraas, will cover more than 1.6 million square meters and include cultural quarters, green spaces and five distinct zones combining residences, retail, hospitality, and creative spaces. A central feature, the Design Line, will be a shaded, walkable route lined with art installations and community areas connecting the district. While the project’s value and start date have not been disclosed, Dubai Holding Real Estate said it aims to strengthen the city’s status as a global hub for design, talent and long-term investment.

L’imad Holding Co.: Abu Dhabi-listed Modon Holding has awarded Orascom Construction a $316 million contract to develop the 50-acre Wadi Yemm mixed-use neighborhood within the Ras El Hekma megaproject on Egypt’s North Coast.

ADNOC: Borouge, which is majority owned by the UAE’s national oil company, has completed a proof of concept for AI-powered autonomous operations at its Ruwais facility with Honeywell.

Mumtalakat: BlueFive Capital, owned by multiple groups including Bahrain’s sovereign fund, has been appointed as the first General Partner of a $4.6 billion, 15-year Fund of Funds established by China’s CICC Capital and Chinese steelmaker HBIS Group.

☀️ Renewable Energy: Emirates Islamic has approved a $500 million structured funding loan for Romania’s Mass Group Holding to develop a natural gas-fired power plant in Romania.

🌀 Water Works: Kuwait-listed HEISCO won a $186 million contract from the Ministry of Electricity, Water and Renewable Energy for works at the Al-Khairan power plant and Al-Zour plant.

💵 Muscat Bonds: Oman plans to raise $2.2 billion in 2026 through four government development bonds and two sovereign local sukuk issuances to cover its budget deficit and public debt servicing.

🏢 New Offering: Abu Dhabi developer Aldar Properties is planning to sell long-term U.S. dollar hybrid bonds.

💰 New Hub: Oman is planning to build its own international financial center to attract global institutions in competition with established hubs in neighboring Gulf states. 

✈️ Rescue Flight:Yemenia Airways resumed direct flights between Socotra Island and Jeddah for the first time in years, with the first flight on Jan. 7 set to evacuate stranded foreign tourists.

👶 Milk Warning:The Saudi Food and Drug Authority warned consumers to avoid certain Nestlé baby formulas after a voluntary recall over possible contamination.

💬 Early Chatter: U.K.-based digital bank Revolut is in early talks to acquire Turkish digital bank FUPS as it explores entering the Turkish market, Bloomberg reports. 

🤝 Bonding Together: Israel and Syria have agreed to share intelligence and explore commercial ties through a joint U.S.-supervised mechanism aimed at easing military tensions and boosting diplomatic engagement.

UAE President Sheikh Mohamed bin Zayed appointed Abdulla bin Mohammed bin Butti Al Hamed as Chairman of the National Media Authority and Mohammed Saeed Al Shehhi as Vice Chairman.

Saudi Arabia’s King Salman chaired a Cabinet session in Riyadh on Tuesday.

Saudi Crown Prince Mohammed bin Salman held a phone call with Syria’s President Ahmed al-Sharaa on Tuesday. 

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, UAE Deputy Prime Minister and Minister of Defense, and Chairman of The Executive Council of Dubai, reviewed progress on the Jumeirah Beach 1 development project on Tuesday.

Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, met with a delegation from Harvard University’s Kennedy School of Government at his palace in Saqr bin Mohammed City on Tuesday.

Abdulla Al Naboodah, Chairman of Dubai Basketball, told Arabian Gulf Business Insights that the club, which has one of the lowest roster budgets in the EuroLeague, will continue to take a disciplined approach to funding to ensure the long-term viability of the team.

Ahmad Soubra, Head of Value Creation at the Abu Dhabi Investment Office, said the fund has adopted a “cluster-led investment strategy” in line with the emirate’s shift away from tracking capital inflows in favor of long-term jobs and value.

Tarik Erk was appointed as the new Regional Head at Binance, the world’s largest cryptocurrency exchange.

David Abt, Robin Bachmann and James Church-Morley were among a group of 53 executives at Dubai-based FTI Consulting who were promoted to the post of Senior Managing Director.

🐴 A Horse of Course: The Arab world’s cultural obsession with horses has a new monument, with the launch of a dedicated equestrian library at the recently opened Abu Dhabi Royal Equestrian Arts campus. The first of its kind in the region, the library’s shelves hold more than 14,000 books on “every aspect” of the field, from equine history and breeding to training, saddlery and stories of famous horses throughout history. There is even a dedicated children’s section. “The ADREA Library is infused with the spirit of horses,” UAE literary figure Isobel Abulhoul, who curated the collection, told Arab News.

Jan. 9-11, Dubai. 1 Billion Followers Summit. A gathering of global content creators to 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 policymakers 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.26-27, Riyadh. Super Return. A major private equity & venture capital conference held in Riyadh, Saudi Arabia.The Fairmont Hotel. 

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

Jan.29, Dubai. The Great Marketing & Business Minds. In this 4th edition, the event brings the most influential marketing and business leaders for a deep dive into performance-driven marketing, data integration, and the evolving accountability of brand leadership. Pullman Dubai Downtown.

Feb 1-6, Dubai. Dubai Fashion Week. The event showcases the latest collections by global and regional designers and positions Dubai as a major creative hub on the global fashion calendar alongside fashion capitals like New York, London, Milan and Paris. Dubai Design District.

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. 

Feb. 3-5, Dubai. World Government Summit. Brings together heads of state, policy makers, top corporate executives to debate global priorities. Madinat Jumeirah. 

Feb. 4-5, Dubai. PropTech Connect Middle East. The Dubai Land Department will host the first regional edition of the real estate technology event. Grand Hyatt Dubai.

Feb. 10-11, Abu Dhabi. Top Advisors & Investors Summit. The event will convene the region’s foremost advisors, financiers, and investors in the UAE capital. TBC

Feb.12-13, Riyadh. PIF Private Sector Forum. The event, in its third edition, aims to support the Saudi Public Investment Fund’s Private Sector Engagement Strategic Initiative. King AbdelAziz International Conference Center. 

BANKING MAGNET

Saudi Arabia has persuaded 20 of the world’s top 30 banks to expand their presence in the kingdom. Investment Minister Khalid Al-Falih told the government’s Shoura Council on Monday that global financial firms have responded well to a series of incentives and regulatory requirements requiring that they base their regional operations in Saudi Arabia, the Saudi Gazette reports. Among those setting up local headquarters in Riyadh last year were Citigroup, JPMorgan Chase and BNY Mellon. Under rules that took effect in 2024, multinational firms must maintain their primary regional office in the kingdom to qualify for Saudi government contracts.

GLOBAL GROWTH

Alpha Dhabi Holding plans to invest $8 billion over the next five years, with recent divestments providing additional funding for growth. The Abu Dhabi-based investment company, which is 45% owned by International Holding Co., the vast conglomerate run by UAE National Security Advisor Sheikh Tahnoon bin Zayed, most recently generated $1.4 billion when it exited UAE-based real estate investor Modon in October. Derek Nicholson, Alpha Dhabi’s Chief Strategy Officer, told Zawya that the company seeks acquisitions with “the right risk profile, returns, and synergies.” Alpha Dhabi also sees potential to monetize its assets through IPOs, accelerated bookbuilds or strategic sales, he said.

Abu Dhabi Investment Authority: A subsidiary of ADIA became the lead investor in a $770 million continuation fund run by Beijing-based CDH Investment, widening the Abu Dhabi fund’s footprint in China.

Masdar: Abu Dhabi-based Dhafrah PV2 Energy Company, a joint venture between TAQA, Masdar, EDF Renewables and China’s Jinko Power, has mandated BNP Paribas and HSBC as joint global coordinators for a dollar-denominated green bond.

Masdar: Abu Dhabi’s green energy company has signed a power purchase agreement to develop a 200MW floating solar project on Malaysia’s Chereh Dam, its first investment in the country.

Public Investment Fund: Soudah Development, a PIF company, and National Grid SA, a subsidiary of Saudi Electricity Company, signed an agreement valued at more than $347 million to develop and deliver advanced power infrastructure for the Soudah Peaks.

Qatar Investment Authority: Mastercard has given an official license for QNBGroup, a QIA company, to begin issuing and receiving digital financial transactions in Syria.

💰 Closing Gaps: First Abu Dhabi Bank and Afreximbank have closed the funding gap on Nigeria’s Lagos-Calabar Coastal Highway by providing a $1.1 billion loan, enabling construction to move forward on the key link to Lekki Deep Sea Port.

🤝 Plastic Loan: The Islamic Corporation for the Development of the Private Sector extended a $20 million medium-term Islamic finance facility to Jordan’s Applied Plastic Industries Company.

💸 Diverse Economy: Saudi Arabia’s investments now equal 32% of GDP and non-oil fixed capital at 40%, according to Investment Minister Khalid Al-Falih.

𖣘 Breezing In: Dubai-based Alcazar Energy is reportedly in talks to acquire Egypt’s Jabal Al-Zait wind farm for up to $350 million after submitting the top bid.

💵 Hybrid Bond: Aldar Properties, Abu Dhabi’s largest property developer, has mandated Citi as sole structuring advisor and global coordinator, alongside a syndicate of banks, for a planned dollar-denominated hybrid notes offering.

📈 Market Leader: Oman’s Muscat Securities Market was the GCC’s best-performing index in 2025, rising 28.2% year on year, according to Kamco Invest.

🏦 Private Equity: Goldman Sachs has launched a secondaries advisory franchise in the Europe, Middle East and Africa region, appointing former Rothschild banker Andrei Brougham to lead the effort.

📉 Cutting Down: Israel’s central bank surprised markets by cutting its benchmark interest rate by 25 basis points to 4%, defying most analysts’ expectations.

UAE President Sheikh Mohamed bin Zayed held a phone call on Monday with Turkish President Recep Tayyip Erdoğan.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, received Sayyid Badr Hamad Al Busaidi, Oman’s Minister of Foreign Affairs, on Monday.

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Affairs Minister, met with Egyptian President Abdel Fattah El-Sisi on Monday during a visit to Cairo.

Saudi Arabia’s King Salman and Crown Prince Mohammed bin Salmansent their condolences to Jordan’s King Abdullah after the passing of former Prime Minister Ali Abu Al-Ragheb. UAE President Mohamed bin Zayed and Vice Presidents Sheikh Mohamed bin Rashid and Sheikh Mansour bin Zayed also sent condolences.

Hugh Baker was appointed Chief Financial Officer of Adnoc Logistics and Services a few months after the departure of former CFO Nicholas Gleeson.

Ann Haydon MBE was appointed as the new Principal of GEMS Wellington Academy – Al Khail.

Mazen Abdulrazzaq Al Romaihas was appointed Chairman of the Saudi Tadawul Group and Yazeed Abdulrahman Al Humaid was appointed Vice Chairman.

🎨 Pattern Recognition: The vibrant papier-mâché sculptures and distinctive pattern-making of pioneering Emirati artist Mohamed Ahmed Ibrahim are the focus of a new immersive solo show at Abu Dhabi’s Cultural Foundation. “Two Clouds in the Night Sky” spans more than three decades of the artist’s work, including an installation commissioned for the exhibition, titled “Time/Place/Void.” The work, which comprises four interconnected rooms each decorated with Ibrahim’s signature pattern drawings in different color combinations, is described as a “giddy and uplifting experience” in a review by The National.

Jan. 9-11, Dubai. 1 Billion Followers Summit. A gathering of global content creators to 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 policymakers 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.26-27, Riyadh. Super Return. A major private equity & venture capital conference held in Riyadh, Saudi Arabia.The Fairmont Hotel. 

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

Jan.29, Dubai. The Great Marketing & Business Minds. In this 4th edition, the event brings the most influential marketing and business leaders for a deep dive into performance-driven marketing, data integration, and the evolving accountability of brand leadership. Pullman Dubai Downtown.

Feb 1-6, Dubai. Dubai Fashion Week. The event showcases the latest collections by global and regional designers and positions Dubai as a major creative hub on the global fashion calendar alongside fashion capitals like New York, London, Milan and Paris. Dubai Design District.

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. 

Feb. 3-5, Dubai. World Government Summit. Brings together heads of state, policy makers, top corporate executives to debate global priorities. Madinat Jumeirah. 

Feb. 4-5, Dubai. PropTech Connect Middle East. The Dubai Land Department will host the first regional edition of the real estate technology event. Grand Hyatt Dubai.

Feb. 10-11, Abu Dhabi. Top Advisors & Investors Summit. The event will convene the region’s foremost advisors, financiers, and investors in the UAE capital. TBC

Feb.12-13, Riyadh. PIF Private Sector Forum. The event, in its third edition, aims to support the Saudi Public Investment Fund’s Private Sector Engagement Strategic Initiative. King AbdelAziz International Conference Center. 

PARIS MATCH-UP

Competition between Paris Saint-Germain, a team that has dominated European soccer for decades, and Paris F.C., which is owned by the family of luxury titan Bernard Arnault, is shaping up to be one of the richest match-ups in sports, The Wall Street Journal reports. The two teams played a rare capital city derby match in Paris on Sunday at PSG’s Parc des Princes stadium, located just across the street from Paris F.C.’s home ground at Stade Jean-Bouin. PSG, backed bythe Qatar Investment Authority and known for its vast spending and star talent, won the game 2-1. Antoine Arnault, Bernard’s eldest son, told the Journal his aim is sustainable growth and a stronger local connection instead of pouring money into buying star players immediately.

SYRIAN STRUGGLE

Syrian businesses, from tourism shops to wineries, are struggling amid cultural and regulatory confusion since the fall of Bashar al-Assad’s regime. Wineries can still produce but are unable to sell wine because there is no clear law governing alcohol, forcing some producers into losses after nearly two years without sales, The Guardian reports. Bars in Damascus face inconsistent enforcement of alcohol rules, with some raids and arbitrary closures even as party scenes persist behind the scenes. Despite uncertainty and security concerns, many Syrians remain hopeful for clearer rules and stability as they navigate the economic aftershocks of the regime change.

Abu Dhabi Investment Authority: Abu Dhabi’s largest sovereign wealth fund is investing $65 million in the IPO of Chinese AI startup MiniMax.

ADNOC: ADNOC Drilling Co. said it has completed the acquisition of a 70% stake in SLDC Holdings, which operates drilling rigs in Kuwait and Oman.

International Holding Corp.: Emirates Stallions Group, a unit of Abu Dhabi’s IHC, appointed Tariq Nazzal as CEO of its real estate subsidiary, Royal Development Holding.

⛽ Gas Cooperation: Egypt and Qatar signed a draft agreement to boost cooperation in LNG sales and imports, including terms for supplying Qatari shipments to Egypt’s Ain Sokhna and Damietta ports, Reuters reports.

📞 Telecom Merger: UAE telecoms operator e& said its Pakistani subsidiary PTCL has completed the $400 million acquisition of Telenor Pakistan, merging it with Ufone to form Pakistan’s second-largest mobile operator.

🪛 Digging Deeper: UAE-based Dana Gas received a $50 million payment from the Egyptian Government to support drilling seven more wells under the programme in Egypt.

💰New Town: Michel Massoud’s $1.4 billion hedge fund Melqart Asset Management plans to open a Dubai office in the second quarter, Bloomberg reports.

🏢 Solid Ground: OSON, a fintech firm operating across Central Asia, established its global headquarters in the Dubai International Financial Centre.

📜 New Look: The UAE government has issued two new federal decree laws to update how its capital markets are regulated, strengthening the independence and powers of the Capital Market Authority and setting clearer rules to make the financial sector more stable, fair, and aligned with international standards.

📉 Slower Activity: Saudi Arabia’s non-oil private sector kept growing in December, but the pace of growth slowed compared with November, showing weaker increases in business activity and new orders, even though overall expansion stayed positive.

UAE President Sheikh Mohamed bin Zayed held a phone call last Thursday with the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani.

Sheikh Mohammed bin Rashid, Ruler of Dubai and UAE Prime Minister, met with current and former cabinet ministers to mark the 20th anniversary of his becoming Premier.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, received Mulambo Haimbe, Minister of Foreign Affairs and International Cooperation of Zambia, on Sunday to discuss the prospects for strengthening bilateral relations.

Prince Faisal bin Farhan, Saudi Arabia’s Minister of Foreign Affairs, met with Somalia’s Minister of Foreign Affairs and International Cooperation Abdisalam Abdi Ali, in Riyadh on Sunday.

Jamal Fares Al-Ruwaie, Bahrain’s U.N. representative, participated in the flag-raising ceremony in New York on Friday to mark his country’s becoming a member of the Security Council for a two-year term. 

Claire Dubbelman, Deputy Race Director for Formula 1, plans to go to work for Saudi Arabia’s national motorsport federation, PlanetF1.com reports.

Hammam bin Nasser bin Juraied was appointed as Executive Director of the Arab Gulf Program for Development.

Hala Badri, Director-General of the Dubai Culture and Arts Authority, told Gulf Business that the city is planning to offer grants and other incentives to bring artists to the city and attract investment to its cultural institutions.

🦁Jungle King: Saudi Arabia’s largest nature reserve plans to bring Asiatic lions back to the kingdom more than a century after they were wiped out by hunting. The move is part of a wider effort to reintroduce 23 endangered or locally extinct species to the vast Prince Mohammed bin Salman Royal Reserve, including leopards, oryx and the donkey-like Persian onager, Arabian Gulf Business Insight reports.

Jan. 9-11, Dubai. 1 Billion Followers Summit. A gathering of global content creators to 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 policymakers 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.26-27, Riyadh. Super Return. A major private equity & venture capital conference held in Riyadh, Saudi Arabia.The Fairmont Hotel. 

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

Jan.29, Dubai. The Great Marketing & Business Minds. In this 4th edition, the event brings the most influential marketing and business leaders for a deep dive into performance-driven marketing, data integration, and the evolving accountability of brand leadership. Pullman Dubai Downtown.

Feb 1-6, Dubai. Dubai Fashion Week. The event showcases the latest collections by global and regional designers and positions Dubai as a major creative hub on the global fashion calendar alongside fashion capitals like New York, London, Milan and Paris. Dubai Design District.

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. 

Feb. 3-5, Dubai. World Government Summit. Brings together heads of state, policy makers, top corporate executives to debate global priorities. Madinat Jumeirah. 

Feb. 10-11, Abu Dhabi. Top Advisors & Investors Summit. The event will convene the region’s foremost advisors, financiers, and investors in the UAE capital. TBC

Feb.12-13, Riyadh. PIF Private Sector Forum. The event, in its third edition, aims to support the Saudi Public Investment Fund’s Private Sector Engagement Strategic Initiative. King AbdelAziz International Conference Center.

BUGATTI BID

Egypt’s billionaire Sawiris family is seeking to enter the high-stakes world of super sports cars. HOF Capital, a firm cofounded by two members of the clan, and BlueFive Capital are in talks to buy Porsche’s stake in Bugatti Rimac, Bloomberg reports. The discussions center on Porsche’s holding in the venture it runs with Rimac Group, which combines the Bugatti brand with Rimac’s electric performance technology. If completed, the deal could also include Porsche’s stake in Rimac itself, potentially bringing fresh capital into the Croatian electric car business.

FISCAL RESET

Bahrain is introducing a broad set of fiscal reforms designed to cut public spending while raising revenue through new corporate tax measures. The plan includes increasing fuel prices and modifying electricity and water tariffs, but guarantees that subsidies for basic household consumption remain intact. Officials presented the reforms as aligned with Bahrain’s Economic Vision 2030 plan, aiming to strengthen fiscal discipline and diversify the economy away from crude oil dependence. Lawmakers are expected to phase in the new corporate tax framework and other measures over the next few years as part of efforts to attract investment and streamline government procedures.

Mubadala Energy: Adnan Bu Fateem, COO of the Abu Dhabi sovereign wealth fund’s energy arm, described 2025 as a “pivotal year” for the company, marked by its entry into the U.S. market with natural gas making up about 70% of production.

ADQ: Abu Dhabi National Energy Co, Taqa, secured 85% debt financing from 14 local and international banks for its $980 million Al Dhafra power plant in Abu Dhabi.

Qatar Investment Authority: Qatar-based Barwa Real Estate Group, backed by QIA-owned Qatari Diar, a QIA company, signed two refinancing agreements with Qatar National Bank worth $557 million.

🏡 Building Blocks:UAE-based Luxe Developers appointed Aquapile Contracting to carry out shoring and piling works for its $626 million La Mazzoni luxury wellness project on Al Marjan Island, Ras Al Khaimah, which is scheduled for completion in 2028.

🏦 Bonds Auction: Egypt’s Ministry of Finance began to auction about $100 million worth of three-year local sovereign Islamic bonds, which follows last week’s interest rate cut.

💷 Working Capital: Saudi Lime Industries signed a one-year, Islamic-compliant $6.7 million loan with Emirates NBD to support working capital for its construction-material business.

📊 Fiscal Reset: Bahrain has approved a package of fiscal reforms, including changes to corporate income tax rules and spending cuts, as the Gulf kingdom seeks to rein in rising debt and narrow budget deficits.

💵 Courting Investors: Egypt rolled out new incentives, including streamlined laws and expanded “golden licences,” to attract Gulf investors as it targets $15 billion in foreign direct investment in the 2025–26 fiscal year.

💼 Job Hunting: Unemployment among Saudi nationals dropped to 7.5% in Q3 2025, down by 0.3% quarter-on-quarter, official data showed.

🏦 Green Light: Bank of Palestine has received initial approval from the Abu Dhabi Global Market for a full banking license, a step that would allow the lender to expand operations in the UAE financial hub while offering corporate, retail and treasury services.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Minister of Defense, met with FIFA President Gianni Infantino on the sidelines of the World Sports Summit on Monday. 

Sheikh Dr Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of the northern emirate of Sharjah, approved the emirate’s general budget for 2026 of $12.2 billion.

Sheikh Sultan bin Mohammed, Crown Prince, Deputy Ruler of Sharjah and Chairman of the Energy Council, met with Suhail bin Mohammed, UAE Minister of Energy and Infrastructure and Chairman of Etihad Water and Electricity Company.

Prince Faisal bin Bandar, the Governor of Riyadh, met with Lebanese Ambassador Ali Karanouh at Al-Hakam Palace on Monday.

Abbas Sajwani, the 26-year-old son of UAE billionaire developer Hussain Sajwani of Damac Group, is reviving Dubai’s long-vacant “Big Ben” office tower and plans to complete refurbishment by the end of 2026 amid strong office demand, Bloomberg reports.

Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, led a government delegation to Egypt on Monday to negotiate a Comprehensive Economic Partnership Agreement with Egyptian Minister of Investment and Foreign Trade Hassan Al-Khatib.

Hussain Sultan Lootah, Acting CEO of ENOC Group and Chairman of Horizon Djibouti Terminals, has concluded a strategic visit to Djibouti and Ethiopia, where he met with Djibouti President IsmailOmar Guelleh.

👠 Fashion Forward: Saudi Arabia is sending a cohort of budding young professionals to study in Paris as it tries to cultivate a homegrown fashion industry. The sojourn in France will be part of a new Executive Master’s Program in Fashion and Luxury created by the Saudi Fashion Commission, Arab News reports. The 15-month course is being run in partnership with Paris-based Institut Français de la Mode, combining study in Riyadh and Paris with online instruction.

Jan. 9-11, Dubai. 1 Billion Followers Summit. A gathering of global content creators to 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 policymakers 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.26-27, Riyadh. Super Return. A major private equity & venture capital conference held in Riyadh, Saudi Arabia.The Fairmont Hotel. 

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

Jan.29, Dubai. The Great Marketing & Business Minds. In this 4th edition, the event brings the most influential marketing and business leaders for a deep dive into performance-driven marketing, data integration, and the evolving accountability of brand leadership. Pullman Dubai Downtown.

Feb 1-6, Dubai. Dubai Fashion Week. The event showcases the latest collections by global and regional designers and positions Dubai as a major creative hub on the global fashion calendar alongside fashion capitals like New York, London, Milan and Paris. Dubai Design District.

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. 

Feb. 3-5, Dubai. World Government Summit. Brings together heads of state, policy makers, top corporate executives to debate global priorities. Madinat Jumeirah. 

Feb. 10-11, Abu Dhabi. Top Advisors & Investors Summit. The event will convene the region’s foremost advisors, financiers, and investors in the UAE capital. TBC

Feb.12-13, Riyadh. PIF Private Sector Forum. The event, in its third edition, aims to support the Saudi Public Investment Fund’s Private Sector Engagement Strategic Initiative. King AbdelAziz International Conference Center.

MINING SHOWDOWN

A UAE-based mining company, Axis International, is seeking $29 billion from the government of Guinea after its license to mine bauxite was cancelled earlier this year. The company has filed the case at a World Bank arbitration court, arguing that Guinea unfairly took away its permit and caused huge financial losses by shutting down the project, Bloomberg reports. Guinea says it has been revoking licenses from companies it believes have not met their commitments, as it tries to exert more control over its natural resources. The dispute is one of several legal battles involving Guinea’s mining sector following a wave of license cancellations under the current military-led government.

AI READY

More than a quarter of Saudi Arabia’s businesses say they’re using artificial intelligence tools to boost efficiency and competitiveness. Technology and communications firms are leading the shift, while finance and education are also embracing AI, even as sectors such as construction remain slower to adapt, Arab News reports. Use of cloud computing is also growing, with 47% of businesses in the kingdom employing cloud service, according to a survey by the General Authority for Statistics. The report showed that internet access for businesses across Saudi Arabia has reached 98%.

Public Investment Fund: ACWA Power, which is owned by the Saudi sovereign wealth fund, signed a $400 million public-private partnership with the government of Azerbaijan to develop the country’s first large-scale Caspian Sea reverse-osmosis desalination plant.

Ma’aden: The PIF-owned Saudi Arabian Mining Co. plans to form a $5 million joint venture with Australia’s Midana Exploration to explore and develop minerals inside the kingdom.

Oman Investment Authority: State-owned Oman Electricity Transmission Co. said it plans to invest over $2.6 billion by 2030 to expand Oman’s national electricity grid.

🏝️Coastal Financing: Nigeria secured about $1.2 billion in financing from the UAE to help build part of a planned coastal highway as the country tries to improve transportation links along its southern corridor.

🚰Water Investments: Jordan’s government spent nearly $500 million on supply infrastructure, wastewater treatment and renewable energy projects in 2025.

🕋Pilgrimage Hub: Gulf-based consulting firm Pace has formed a joint venture with Skidmore, Owings & Merrill to support the next phase of expansion of the Hajj Terminal at King Abdulaziz International Airport in Jeddah.

🚀Iranian Satellites: Iran said it launched three satellites-Paya, Zafar-2, and Kowsar- from Russia’s Vostochny Cosmodrome into a 500-kilometer orbit for environmental and agricultural purposes.

 💵 Fund Complete: Saudi Arabia-based Mufeed Co. secured a 12-month, Islamic-compliant $4.7 million loan from Saudi Awwal Bank to support its operations and expansion, with no related parties involved.

💰Deposit Relief: Lebanon’s cabinet approved a draft law designed to allow some depositors to recover funds frozen in the banking system.

🐭Good Stuff:The 1 Billion Followers Summit has announced Disney+ as a strategic partner for its fourth edition, to be held in Dubai from Jan. 9–11 under the theme “Content for Good.”

🌍Stepping Out: The GCC outbound travel and tourism market is forecast to almost double over the next decade, growing to $138 billion by 2033.

🏢New Location: Asia Pacific International Arbitration Chamber will open an affiliated entity and office at its Dispute Resolution Hearing Centre, at ADGM.

SUAE President Sheikh Mohamed bin Zayed and Pakistan’s Prime Minister Muhammad Shehbaz Sharif held talks on Friday to discuss relations between their two countries. 

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and  Deputy Prime Minister, received a phone call on Monday from Abbas Araghchi, Iran’s Minister of Foreign Affairs.

Kuwait’s Emir Sheikh Meshal Al-Ahmad, received GCC Secretary-General Jasem Albudaiwi on Monday at Bayan Palace in Kuwait.

Ahmed Kouchouk, Egypt’s Finance Minister, said on Saturday that external debt of the country’s budget agencies has decreased by $4 billion.

Charbel Yazbeck, Head of Risk at Dubai National Insurance, was appointed Acting CEO following the resignation of A.R. Srinivasan.

Hoo Gon Kim was appointed President of Kia Corp. for the Middle East and Africa starting Jan.1.

🍾 Star Turns: International music stars will headline New Year’s Eve celebrations in Abu Dhabi, with events ranging from black-tie galas at luxury hotels to large outdoor concerts. John Legend is set to perform at a $950-a-plate gala dinner at Emirates Palace Mandarin Oriental, followed by fireworks and a live set featuring hits such as All of Me. Alicia Keys will headline the first New Year’s Eve edition of the Saadiyat Nights concert series, returning after a sold-out 2024 show.

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. 1 Billion Followers Summit. A gathering of global content creators to 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.26-27, Riyadh. Super Return. A major private equity & venture capital conference held in Riyadh, Saudi Arabia.The Fairmont Hotel. 

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.

Jan.29, Dubai. The Great Marketing & Business Minds. In this 4th edition, the event brings most influential marketing and business leaders for a deep dive into performance-driven marketing, data integration, and the evolving accountability of brand leadership. Pullman Dubai Downtown.

Feb 1-6, Dubai. Dubai Fashion Week. The event showcases the latest collections by global and regional designers and positions Dubai as a major creative hub on the global fashion calendar alongside fashion capitals like New York, London, Milan and Paris.  Dubai Design District.

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. 

Feb. 10-11, Abu Dhabi. Top Advisors & Investors Summit. The event will convene the region’s foremost advisors, financiers, and investors in the UAE capital. TBC

Feb.12-13, Riyadh. PIF Private Sector Forum. The event in its third edition is to support the Fund’s Private Sector Engagement Strategic Initiative. King AbdelAziz International Conference Center. 

OLYMPICS TORCHED

Saudi Arabia and the International Olympic Committee have “mutually” ended a deal to jointly hold the Olympic Esports Games. The IOC and the kingdom will pursue their own esports ambitions separately, Bloomberg reports. The 12-year agreement, signed last year, was supposed to see Saudi Arabia host the inaugural Esports Olympics, a part of its ambition to be a global hub for gaming. The kingdom held its second Esports World Cup over the summer, attracting more than 2,000 professional players from over 100 countries, and its Public Investment Fund has since signed a blockbuster $55 billion deal to take gaming company Electronic Arts private.

AIRPORT EXPANSION

Abu Dhabi is already planning a major expansion of Zayed International Airport, just two years after it doubled its capacity to 45 million passengers a year with the opening of Terminal A. Construction work will start in two years, with plans to increase capacity to 65 million, The National reports. “We opened in November 2023 and at the first board meeting, I broke the news to the board that we had to think about expansion,” Abu Dhabi Airports Managing Director and CEO Elena Sorlini told the Skift Global Forum East event in the capital. The expansion is partly needed to meet the demands of Etihad Airways, which is planning to double in size and carry 38 million passengers by 2030. The airport is also rolling out the use of biometrics to transit passengers to speed up transfers within the airport, which make up 60% of its current traffic.

International Holding Co.: IHC Real Estate Holding and Alpha Dhabi, both subsidiaries of IHC, sold their stakes in investment and real estate company Modon for more than $7 billion to Abu Dhabi government entity L’imad Holding Co.

International Holding Co.: Alpha Dhabi is also planning to sell about 2% of its 26.5% stake in Abu Dhabi developer Aldar Properties for around $400 million, Bloomberg reports.

Lunate: Alternative investment firm HPS Investment Partners and Abu Dhabi’s Lunate are launching a new investment platform. Lunate will anchor the project with a projected commitment of at least $1 billion.

Mubadala: Pakistan is negotiating with Abu Dhabi Investment Co., a subsidiary of Mubadala, to run Islamabad airport in exchange for 60% of the revenue, Bloomberg reports.

Public Institution for Social Security: Kuwait’s pension fund is restarting private equity allocations and is in discussions with multiple leading buyout firms, Bloomberg reports.

🏭 Mega Project: Egypt’s Ain Sokhna Industrial Zone, within the Suez Canal Economic Zone, will host three major new projects valued at $3.5 billion under an agreement between Kemet Industries Group and Emirati-Chinese company Al Qalaa Red Flag.

💰 Sharjah Sukuk: Sharjah Islamic Bank plans to issue a $500 million islamic bond, to be listed on Euronext Dublin and Nasdaq Dubai, with Emirates NBD Capital and Standard Chartered Bank appointed as joint global coordinators.

🚦 Green Light: U.K. oil services company John Wood Group has published its half-year financial results, a condition of its $292 million takeover by UAE engineering firm Sidara.

👷 Pipe Dream: A Saudi consortium has secured funding to develop a 587km water pipeline in the kingdom, with the project valued at $2.3 billion.

🛢️ Fuel Fraud: Lebanon’s judiciary has charged six companies and four individuals and issued arrest warrants over an alleged Russian oil scam, The National reports.

🎮 Banking Games: Emirati lender Commercial Bank International has launched a venture arm to build and invest in products for gamers, starting with a credit card in partnership with Mastercard.

🛡️ Standing Together: The U.K. has signed an enhanced defense agreement with Qatar to deepen military cooperation.

₿ Virtual World: The Abu Dhabi Real Estate Center signed an agreement with five partners to advance blockchain integration in Abu Dhabi’s real estate sector.

🦘 Aussie Connection: Abu Dhabi Investment Office and the Australia Arab Chamber of Commerce and Industry have signed a strategic partnership to boost trade and investment and support Australian companies entering Abu Dhabi’s high-growth sectors.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, met with South Korean President Lee Jae Myung on the sidelines of the Asia-Pacific Economic Co-operation forum in Gyeongju, South Korea, on Friday. The Crown Prince also met with Lawrence Wong, Prime Minister of Singapore, and Christopher Luxon, Prime Minister of New Zealand.

Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai, launched the Mohammed bin Rashid Endowment District.

Sheikh Sabah Al Khalid Al Sabah, Crown Prince of Kuwait, met with Yuriko Koike, Gov. of Japan, at Bayan Palace in Kuwait on Thursday.

Sheikh Maktoum bin Mohammed, First Deputy Ruler of Dubai and UAE Deputy Prime Minister and Minister of Finance, met with Georges Elhedery, Group CEO of HSBC, at the Dubai International Financial Centre on Thursday.

Sheikh Jarrah Jaber Al Ahmad Al Sabah, Deputy Foreign Minister of Kuwait, met with Muhammad Anis Matta, his Indonesian counterpart, in Kuwait City on Thursday.

Jamie Dimon, CEO of JPMorgan Chase, told The National that his “cockroach” comment about the health of the private credit market was “blown out of proportion.”

Ed Bastian, CEO of U.S. carrier Delta Airlines, told Arabian Gulf Business Insight that the airline hopes to capitalize on economic development in Saudi Arabia and the potential growth of passenger traffic between the two countries with its new direct flights from Atlanta to Riyadh.

Eric Schmidt, the former CEO of Google, told The National at Saudi Arabia’s FII conference in Riyadh that the rise of AI will create more jobs than it destroys.

James Reynolds, the global co-head of Goldman Sachs Asset Management, said in an interview with Asharq Business that the bank is in “productive” talks with the Public Investment Fund and other players in the region.

Rashid Saeed Al Shamsi, Non-Resident Ambassador of the UAE to Niger, met with Ali Mahamane Lamine Zeine, Prime Minister of Niger, at his headquarters in the capital, Niamey. 

🏛️ Rebuilding History: Palmyra’s archaeological museum, which was badly damaged by bombings during the Syrian civil war, will be restored with international funding, The National reports. One of Syria’s most popular sites before the war, Palmyra made headlines in 2025 when ISIS destroyed the Temple of Bel and the Arch of Victory and killed its head of antiquities. Swiss-based foundation Aliph will fund the restoration of the museum, starting with the guesthouse, which will house archaeologists working on the project. Aliph is mostly funded by nations, including the UAE, Saudi Arabia, Kuwait and Morocco, and private donors.

Oct 29-31, Abu Dhabi. International Forum of Sovereign Wealth Funds. An annual forum hosted by Abu Dhabi Investment Authority and Mubadala, bringing together global CEOs and senior executives from sovereign wealth funds. ADGM 

Nov. 1-2, Dubai. Women’s Empowerment Convention. The 3rd Women’s Leadership Forum unites global trailblazers, headlined by fashion icon Anna Wintour and storytelling pioneer Candace Bushnell. Atlantis The Royal Conference Center.

Nov. 3-6, Abu Dhabi. ADIPEC. Bringing together professionals, companies, and government leaders to discuss and showcase the latest developments in oil, gas, and cleaner energy technologies. ADNEC Center.

Nov. 4-6, Dubai. Gulfood Manufacturing. Billed as the most influential F&B manufacturing event in the world. Dubai World Trade Center. 

Nov. 4-9, Dubai. Dubai Design Week. The Middle East’s largest creative festival, showcasing more than 200 events across architecture, product, furniture, interior and graphic design. D3.

Nov. 10-12, Abu Dhabi. DRIFTx. An international exhibition showcasing smart and autonomous mobility solutions. Yas Marina Circuit.

Nov. 10-15, Abu Dhabi. RoboCup Asia-Pacific. A regional competition and event for AI and robotics where teams compete on challenges including humanoid robot soccer matches. ADNEC Center.

Nov. 11-14, Dubai. ICOM 2025. Bringing together museum professionals and cultural experts from around the world to explore the evolving role of museums. Dubai World Trade Center.

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. 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. 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.

CHIP DRIVE

Electric vehicle maker Lucid is partnering with chip giant Nvidia to launch cars with near-full autonomy. The California-based company, which is backed by Saudi Arabia’s Public Investment Fund, will use Nvidia’s Drive AV system in its mid-sized vehicles, Lucid revealed at the FII conference in Riyadh on Wednesday. The system has level 4 autonomous driving capability, which is the second-highest level. Level 5, the highest level, does not even require vehicles to have a steering wheel. “We’re taking the next step by combining cutting-edge artificial intelligence with Lucid’s engineering excellence to deliver the smartest and safest autonomous vehicles on the road,” Marc Winterhoff, interim CEO of Lucid, said. It comes after Lucid agreed in July to supply 20,000 vehicles fitted with a level 4 platform developed by U.S. robotics company Nuro to ride-hailing company Uber for its global robotaxi program.

OPEN DOORS

Abu Dhabi’s Rotana hotel chain is among the global hospitality groups planning to launch in Syria as the country opens up and requires more rooms to house an expected boom in business and leisure travelers. “If Syria opens up again, as it is now, Emiratis will be going there to do business and we need to be there,” Rotana CEO Philip Barnes told The National. Among those lining up for meetings with Syrian President Ahmed Al Sharaa at the FII conference in Riyadh this week were executives from Accor and Hilton Worldwide Holdings. Accor is already in talks with developers and plans to have 10 to 15 hotels in Syria within five years, the newspaper reports.

Mubadala: The Abu Dhabi sovereign fund, alongside private equity firm Cinven and UAX founder Jesús Núñez, will acquire a majority stake in Madrid’s Universidad Alfonso X el Sabio Group from CVC Funds.

Abu Dhabi Investment Authority: ADIA, Nordic private equity house EQT and Auba Investment have sold 8.4% of their stake, worth $3.27 billion, in Swiss skincare specialist Galderma, Zawya reports. Galderma, which makes Cetaphil, went public last year in one of Europe’s largest IPOs.

G42: The Abu Dhabi AI powerhouse has expanded its collaboration with U.S. networking and security company Cisco. Under a new agreement Cisco will power, connect, and secure a large-scale AI cluster deployed by G42, featuring AMD’s advanced MI350X GPUs. 

Public Investment Fund: PIF-backed utility Acwa Power has announced clean energy deals worth $10 billion. The biggest is a $6 billion deal signed between Acwa, Aramco and PIF unit Badeel to develop 70% of Saudi Arabia’s 2030 renewable energy targets.

Public Investment Fund: Saudi Arabia’s sovereign wealth fund and U.S. asset manager BlackRock have partnered to launch mutual funds.

ADQ: AD Ports Group, controlled by the Abu Dhabi sovereign fund, signed an initial agreement with the Indian government of Maharashtra paving the way to invest up to $2 billion in the state’s ports and shipbuilding sectors.

ADQ: Abu Dhabi National Energy Company, known as TAQA, sold its entire stake in an Indian coal power plant for $105 million as part of a pivot towards green power.

🛒 Shopping Trip: Dubai retail conglomerate Al-Futtaim is planning to invest an additional $2.7 billion in Saudi Arabia over the next three years.

💰 Cash Zap: Emirates NBD has inked a $423 million credit facility with Egypt’s El Sewedy Electric for regional expansion across Egypt, Saudi Arabia and the UAE.

📷 Tourism Boost: Oman signed 36 contracts worth $260 million for the construction of tourism projects as part of its Vision 2040 project.

🚢 Ship Shape: Dubai-based global terminal operator DP World has committed to invest an additional $5 billion in India’s maritime infrastructure.

🔍 Breaking Ground: Dubai Investments is investing $163 million to build a second production line for its subsidiary Emirates Float Glass.

🧊 Chilling Offer: Saudi-Swiss cold-chain tech company Consolidated Grünenfelder Saady is planning an IPO on the Saudi stock exchange next month.

📈 GDP Boost: Saudi Arabia’s economy expanded at 5% year-on-year in the third quarter, the fastest pace since early 2023, helped by rising oil production and big state investments in non-oil sectors. 

🏘️ Crypto Homes: Dubai property company Idealist Real Estate entered a strategic partnership with Citi Developers to integrate crypto payments into real estate transactions.

🏦 Fed Cuts: Gulf central banks cut interest rates in tandem with the U.S. Federal Reserve’s second reduction of 25 basis points this year.

Saudi Arabia’s Crown Prince Mohammed bin Salman held meetings with heads of state on the sidelines of the FII conference in Riyadh on Wednesday, including Ahmed Al Sharaa, President of Syria; Vjosa Osmani, President of Kosova; Manuel Marrero Cruz, Prime Minister of Cuba; Gustavo Petro, President of Colombia; Teodoro Obiang Nguema Mbasogo, President of Equatorial Guinea; and Han Zheng, Vice President of China. The meetings were also attended by various ministers and dignitaries, including Saudi Foreign Minister Prince Faisal bin Farhan.

Adel Al-Jubeir, Saudi Arabia’s Minister of State for Foreign Affairs, Cabinet Member, and Climate Envoy met with former Canadian Prime Minister Stephen Harper on the sidelines of the FII conference on Wednesday.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, met with Michel Demaré, Chair of biopharmaceutical company AstraZeneca, along with other members of AstraZeneca’s board, in Abu Dhabi on Wednesday.

António Costa, President of the European Council, visited the Sheikh Zayed Grand Mosque in Abu Dhabi on Wednesday, accompanied by Lucie Berger, Ambassador of the European Union to the UAE, and several senior EU officials. 

Faisal Alibrahim, Saudi Arabia’s Minister of Economy and Planning, met with Vietnam’s Deputy Prime Minister Ngugen Chi Dung in Riyadh for talks to enhance cooperation. 

Yuriko Koike, Tokyo Gov., arrived in Kuwait on Wednesday for an official visit and was greeted at the airport by Sheikh Abdullah Salem Al-Ali Al-Sabah, Gov. of the Kuwait City.

Syrian President Ahmed Al Sharaa met with FIFA President Gianni Infantino on the sidelines of the FII conference in Riyadh on Wednesday.

Mohamed Alabbar, founder of Dubai-listed Emaar Properties, said during a panel discussion at the FII conference in Riyadh that his company is looking to enter China’s real estate market.

Belkasem Haftar, son of Libyan military strongman Khalifa Haftar, is using the FII conference in Riyadh to drum up interest in Libya as an attractive destination for investment, Bloomberg reports.

Bill Winters, Group CEO of Standard Chartered, told The National on the sidelines of the FII conference that the Middle East wealth management business is one of the fastest growing in the world for U.K.-based lenders.

Will Ahmed, Founder & CEO of wearable tech company Whoop, spent several days touring the Gulf, visiting Qatar, Saudi Arabia and the UAE. He announced the launch of an R&D center called Whoop Labs Doha in partnership with Invest Qatar and a partnership with digital health platform Lean Business Services in Saudi Arabia. 

🎤 Learning Moment: Maharat, the Arab world’s answer to the popular American subscription service MasterClass, is now offering bite-sized versions of its courses, The National reports. The platform, which launched in February, features lessons in business, fashion and music from the likes of Toufic Kreidieh, Executive Chairman of Brands for Less Group, celebrity make-up artist Bassam Fattouh and Lebanese singer Ragheb Alama. The new feature, called Playlists, condenses the courses into 2-3 minute videos and is touted as the company’s antidote to doom-scrolling.

Oct 29-31, Abu Dhabi. International Forum of Sovereign Wealth Funds. An annual forum hosted by Abu Dhabi Investment Authority and Mubadala, bringing together global CEOs and senior executives from sovereign wealth funds. ADGM 

Nov. 1-2, Dubai. Women’s Empowerment Convention. The 3rd Women’s Leadership Forum unites global trailblazers, headlined by fashion icon Anna Wintour and storytelling pioneer Candace Bushnell. Atlantis The Royal Conference Center.

Nov. 3-6, Abu Dhabi. ADIPEC. Bringing together professionals, companies, and government leaders to discuss and showcase the latest developments in oil, gas, and cleaner energy technologies. ADNEC Center.

Nov. 4-9, Dubai. Dubai Design Week. The Middle East’s largest creative festival, showcasing more than 200 events across architecture, product, furniture, interior and graphic design. D3.

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.

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.

DAMASCUS MOMENT

Saudi Arabia is preparing to launch a series of funds in Syria to oversee the billions of riyals it is committing to rebuilding the economy of the wartorn country, Saudi Investment Minister Khalid Al Falih told the Saudi-Syrian investment roundtable in Riyadh. Saudi Banks are also setting up operations in Damascus, with two already operating and moving funds between the two countries, as they deepen financial and banking cooperation. Syrian President Ahmad Al Sharaa is set to address investors in a keynote speech to the FII conference this afternoon, where he will set out his vision for attracting high-value investments and advancing reconstruction efforts. During his visit Al Sharaa is also expected to meet with Crown Prince Mohammed bin Salman, who was instrumental in lobbying U.S. President Donald Trump to lift sanctions on Syria.

WAGE WOES

Employees in the UAE are facing a contraction in salaries, as booming population growth means that the number of jobseekers is far outstripping the available roles in many industries, The National reports. Once considered “hardship” positions with high salaries for expats, professional jobs in Dubai and Abu Dhabi are now highly sought after as the cities mature, offering an attractive lifestyle along with tax benefits. Trefor Murphy, Founder and CEO of recruitment company Cooper Fitch, told the newspaper that new arrivals were “doing anything” just to get a job and it was making it harder for existing talent to get a justifiable wage increase. “We’ve had dentists come to the UAE to work as real estate agents,” he said. Cooper Fitch data showed hiring activity in the Emirates increased 3% in the three months to the end of September.

Public Investment Fund: The PIF has signed a memorandum of understanding worth $6.8 billion with U.K. Export Finance, the British export credit agency, to build financial cooperation and expand trade and investment opportunities.

Public Investment Fund: The Red Sea Gateway Terminal, partly owned by the PIF, signed an $433 million agreement with French-based CMA CGM Group to develop and operate a fourth container terminal at Jeddah Islamic Port, Arab News reports.

Public Investment Fund: PIF-owned Saudi Arabian developer Red Sea Global raised a $1.7 billion credit facility through Riyad Bank to finance the development of its luxury tourism destination Amaala.

ADNOC: XRG, the low-carbon investment arm of Abu Dhabi’s state-owned oil company, is looking at investing in a liquefied natural gas project developed by Argentina’s state-owned YPF, Bloomberg reports.

Masdar: India’s Nasdaq-listed ReNew Energy Global has accepted a revised buyout offer from a consortium led by Abu Dhabi renewable energy company Masdar, Abu Dhabi Investment Authority subsidiary Platinum Hawk, the Canada Pension Plan Investment Board and Sumant Sinha, Founder, Chairman and CEO of ReNew. The revised cash offer values the deal at more than $3 billion.

Mubadala: Bahrain’s Investcorp, the alternative asset manager backed by Mubadala, aims to raise as much as $7 billion in new funding and make exits and distribution to investors of a similar amount in the current financial year, CFO and Vice Chairman Rishi Kapoor told The National on the sidelines of the FII conference.

☁️ Cloud Deal: Qatar-based data center and IT provider Meeza signed a $205 million agreement with a global hyperscaler and cloud service provider to provide 6 megawatts of data center services. 

⚕️ New Contracts: Modon, Saudi Arabia’s authority for Industrial Cities and Technology Zones, signed five new industrial contracts in the critical medical and pharmaceutical industries worth $62.6 million.

🏭 Green Investment: The Green Climate Fund will help build a $6 billion water desalination project in Jordan, marking the fund’s largest investment in a single project, Reuters reports.

💸 Fintech Cash: Viola Credit, an Israel-based asset manager specializing in alternative credit, has raised a $2 billion fund to lend to financial technology startups, Bloomberg reports.

📈 Taking Stock: Dubai-listed education provider Amanat Holdings has launched the IPO of its subsidiary Almasar Alshamil Education on the Saudi Tadawul Exchange.

🇵🇰 Trade Pact: Saudi Arabia and Pakistan agreed to launch an Economic Cooperation Framework to strengthen trade and investment relations.

💸 Less Impact: Dubai is not likely to raise substantial debt over the next two years as more fiscal surpluses are expected between 2025 and 2028, S&P said in a new report.

✈️ Airport Award: Iraq selected a consortium of Luxembourg-based Corporación América Airports and local company Amwaj International to develop and operate Baghdad International Airport.

💰 Dubai Bound: Dublin-based Avia Solutions Group, the world’s largest aircraft, crew, maintenance and insurance provider, will establish its new regional headquarters at Dubai South.

Saudi Arabia’s Crown Prince Mohammed bin Salman met in Riyadh on Tuesday with FIFA President Gianni Infantino to review areas of sports cooperation. Also present were Minister of Sport Prince Abdulaziz bin Turki bin Faisal, Minister of Commerce Majid Al-Kassabi, PIF Gov. Yasser Al-Rumayyan, Advisor at the Royal Court Abdulaziz Tarabzouni and President of the Saudi Arabian Football Federation Yasser Al-Misehal.

UAE President Sheikh Mohamed bin Zayed met with António Costa, President of the European Council, at Qasr Al Shati palace in Abu Dhabi on Tuesday. The pair discussed ongoing negotiations on a trade deal between the UAE and the EU.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, met with Chuck Robbins, Chair and CEO of Cisco, in Abu Dhabi on Tuesday.

Crown Prince Hussein of Jordan and his delegation arrived in Riyadh on Tuesday to participate in the FII conference.

Ahmed Al Sharaa, President of Syria, arrived in Riyadh on Tuesday to participate in the FII conference. 

Sheikha Latifa bint Mohammed, Chairperson of Dubai Culture and Arts Authority, delivered a keynote address at the Emirati Media Forum at the Museum of the Future in Dubai on Tuesday.

Sheikha Bodour bint Sultan Al Qasimi, President of the American University of Sharjah and Chairperson of the Sharjah Book Authority, has been named UNESCO Goodwill Ambassador for Education and Book Culture.

Sheikh Mansoor bin Mohammed, President of the UAE National Olympic Committee, met with Gao Zhidan, President of the Chinese Olympic Committee, on Tuesday in Dubai.

Abdullah Alswaha, Saudi Arabia’s Minister of Communications and Information Technology, met with global technology leaders on the sidelines of the FII conference, including Vimal Kapur, Chairman and CEO of Honeywell; Steven Mnuchin, Chairman and CEO of Liberty Strategic Capital and former U.S. Treasury Secretary; Amjad Masad, Founder and CEO of Replit; and Emirati businessman Hussain Sajwani, Founder and Chairman of Damac Properties and EDGNEX Data Centers.

Jasem Albudaiwi, GCC Secretary-General, is attending the FII conference in Riyadh, commenting that the event is a source of pride for all Gulf citizens.

Amer Ghalib, U.S. President Trump’s pick to serve as ambassador to Kuwait, is unlikely to make the cut after three key Republican senators said they would oppose the nomination, The New York Times reports.

Georges Elhedery, Group CEO of HSBC, told The National on the sidelines of the FII conference that the bank was halfway through a revamp of its global business and was betting on expanding its wealth management offering in the Middle East and Asia to boost growth.

Yie-Hsin Hung, President and CEO of State Street Investment Management, played down fears of an AI bubble in comments to Asharq Bloomberg on the sidelines of the FII conference. 

Karim Abi Nader was appointed Executive Director and Banker at JPMorgan Private Bank in the Middle East.

🎨 Art Auction: Palestinian-American artist Samia Halaby’s “Morning Honey” and Fahrelnissa Zeid’s “Carnations” were among works auctioned at Sotheby’s Modern and Contemporary Middle Eastern Art sale in London on Tuesday. The bi-annual event featured a curated selection of artworks from the Arab world, North Africa, Iran and Turkey. Halaby’s 1992 painting had one of the highest estimated sales prices, at $93,000-$133,000. The result is pending.

Oct. 27-30, Riyadh. Future Investment Initiative, 9th Edition. Investors, corporate executives, cabinet ministers and political leaders from around the world attend Saudi Arabia’s flagship business conference. King Abdulaziz International Conference Center.

Oct 29-31, Abu Dhabi. International Forum of Sovereign Wealth Funds. An annual forum hosted by Abu Dhabi Investment Authority and Mubadala, bringing together global CEOs and senior executives from sovereign wealth funds. ADGM 

Nov. 1-2, Dubai. Women’s Empowerment Convention. The 3rd Women’s Leadership Forum unites global trailblazers, headlined by fashion icon Anna Wintour and storytelling pioneer Candace Bushnell. Atlantis The Royal Conference Center.

Nov. 3-6, Abu Dhabi. ADIPEC. Bringing together professionals, companies, and government leaders to discuss and showcase the latest developments in oil, gas, and cleaner energy technologies. ADNEC Center.

Nov. 4-9, Dubai. Dubai Design Week. The Middle East’s largest creative festival, showcasing more than 200 events across architecture, product, furniture, interior and graphic design. D3.

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.

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.