The Daily Circuit: Saudi fans await Ronaldo return + Mubadala Capital buys Clear Channel
In today’s Daily Circuit, we report on Mubadala Capital’s $6.2 billion deal to buy Clear Channel Outdoor Holdings with partner TWG Global, the $1 billion in deals signed by Saudi EV maker CEER to source materials from inside the kingdom, Qatar’s postponement of LNG production from its massive North Field project and Gourmet Egypt’s 38% jump in its Cairo stock exchange debut. But first, Ronaldo’s fans are wondering, will he or won’t he?
Saudi team owners and soccer fans are waiting breathlessly to discover whether reports are correct that Cristiano Ronaldo will end his two-match boycott this coming weekend amid disputes with his Al-Nassr football club and league officials.
The Riyadh team’s star Portuguese captain, who is paid $235 million a year, plans to return for Al-Nassr’s Feb. 14 match against Al-Fateh, ESPN reports.
Ronaldo’s grievances revolve around the role of Saudi Arabia’s Public Investment Fund in team affairs and comparisons with rival clubs’ transfer activity, according to the sports broadcaster.
In a statement last week, the Saudi Pro League said that any problems Ronaldo and other players have must be resolved with their individual teams. “Decisions on recruitment, spending and strategy sit with those clubs, within a financial framework designed to ensure sustainability and competitive balance,” the league said.
Ronaldo has played 22 games this season, scoring 18 goals and providing three assists as Al-Nassr sits in second in the Saudi Pro League, one point behind leader Al-Hilal.
Editor’s Note: Have thoughts or feedback? Hit reply or drop us a note at [email protected].
📰 Developing Stories
ELECTRIC KINGDOM
Saudi Arabia’s electric vehicle maker CEER has signed nearly $1 billion in deals as it seeks to localize its supply chain. The company, which is a joint venture between the Public Investment Fund and Taiwanese manufacturer Foxconn, is planning to source 45% of its raw materials and parts from inside the kingdom by 2034. CEER is planning to roll its first vehicle off the production line in late 2026 and launch six more models over the next five years, Arabian Gulf Business Insight reports. “Our approach goes beyond mere assembly; we are utilizing local raw materials and empowering Saudi companies to become global suppliers,” CEO James DeLuca said as he announced the signing of the 16 agreements at the PIF’s Private Sector Forum in Riyadh.
GOLDEN GOOSE
Foie gras and French goat cheese fueled Gourmet Egypt’s stunning debut on the Cairo stock exchange today, in which the upscale grocer’s shares rose as much as 38%. With sales split between institutional and retail investors at 6.90 Egyptian pounds per share, the store’s IPO raised almost $28 million, Bloomberg reports. Gourmet Egypt, which opened its business 20 years ago and specializes in imported foods such as Angus beef and Roquefort cheese, recently introduced ready-to-heat meals under its own “Handcrafted by Gourmet” label. The Egyptian Exchange’s benchmark index has soared 68% over the past 12 months and officials are expecting as many as eight new listings this year.
💲 Sovereign Circuit
Public Investment Fund: PIF Governor Yasir Al-Rumayyan said in a speech to the PIF Private Sector Forum on Monday that the Saudi sovereign wealth fund is committed to “empowering the private sector to contribute to leading the kingdom’s economic growth and transformation.”
Mubadala: Abu Dhabi’s Mubadala Capital and U.S.-based TWG Global have agreed to acquire Clear Channel Outdoor Holdings in a $6.2 billion all-cash deal.
G42: Khazna Data Centers, backed by the Abu Dhabi tech conglomerate G42, launched an in-house operations business for running hyperscale data centers, called Khazna NextOps.
Humain: Luma AI, a Silicon Valley artificial intelligence film production startup backed by Saudi Arabia’s Humain, is expanding in the region as the kingdom doubles down on digital infrastructure as an economic growth engine, Arabian Gulf Business Insight reports.
↪↩ Closing Circuit
🏗️ CO2 Contract: Australia-based Worley secured a contract from Samsung C&T to provide detailed engineering services for the QatarEnergy LNG Carbon Dioxide Sequestration Project in Ras Laffan, Qatar.
🌊 Tourism Boost: Egypt has unveiled plans for the $1 billion Monte Galala Towers and Marina project on the Red Sea, a 10-tower mixed-use development set to begin construction in the second half of the year.
🧪 Chemical Plant: Egypt will build the Middle East’s first sodium cyanide plant in Alexandria, led by DrasChem Specialty Chemicals, with $200 million in first-phase investment.
🗣 Circuit Chatter
⏳ Gas Timing: Qatar has pushed the start of production from its massive North Field LNG expansion to the end of 2026, delaying a key phase of a project that will raise capacity by tens of millions of tons a year.
🪙 Digital Coins: The UAE Central Bank issued commemorative gold and silver coins to mark the fifth anniversary of the Mohamed bin Zayed University of Artificial Intelligence.
🛰️ Space Comms: Dubai-based electronics company Elcome has signed a deal to resell Amazon Leo’s low-Earth-orbit internet to the maritime sector, The National reports.
🌍 Power Circuit
Britain’s Prince William is on a three-day visit to Saudi Arabia, where Crown Prince Mohammed bin Salmantook him on Monday night for a tour of Diriyah, the ancestral home of the Saudi royal family.
Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, opened the World Health Expo Dubai 2026 at the Dubai Exhibition Centre.
Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, attended a dinner held at Al Jazeera Al Hamra Heritage Village, hosted by the embassies of Costa Rica, El Salvador and Guatemala to celebrate Central American cuisine.
➿ On the Circuit
Khalid Al-Falih, the Saudi Investment Minister, said at the PIF Private Sector Forum on Monday that the government must be willing to reshape its investment priorities when it encounters “a radical, unexpected change in demand, competition, or feasibility.”
Lana Nusseibeh, UAE Minister of State, and Khalid Belhoul, UAE Ambassador to Iran, met in Tehran with Majid Takht Ravanchi, Iran’s Deputy Foreign Minister for Political Affairs, and Reza Ameri, Ambassador of Iran to the UAE.
Burhan Al Hashemiwas appointed CEO of Emirates Petroleum Company, known as Emarat.
Mohamed Galal, a 22-year veteran executive at Bayer,was appointed Cluster Head for the Middle East and North Africa region at the German pharmaceutical company.
🎶 Culture Circuit
📚 Page Turner: Syria is hosting its first post-liberation book fair, as the war-torn country tries to resume its historical role as a regional center of culture and learning. The 10-day Damascus International Book Fair, which includes some 500 publishing houses presenting more than 100,000 titles, was launched under the patronage of President Ahmed Al-Sharaa last week. Organizers emphasized the role of cultural freedom as the key to social cohesion and as a bulwark against extremism.
📷 Photo of the Day
Britain’s Prince William poses for a photograph with Crown Prince Mohammed bin Salman at UNESCO World Heritage site At-Turaif during his first official visit to Saudi Arabia on Monday. (Chris Jackson/Getty Images)
📅 Circuit Calendar
Feb. 8-12, Riyadh. World Defense Show. Brings together global weapons manufacturers, government procurement officers and defense contractors. Riyadh International Convention and Exhibition Centre.
Feb. 9-12, Dubai. WHX Dubai 2026. World Health Expo Dubai (formerly Arab Health) brings together global healthcare professionals, innovations and ideas within the sector. Dubai Exhibition Center.
Feb. 10-11, Abu Dhabi. Top Advisors & Investors Summit. The event will convene advisors, financiers, and investors from across the Middle East in the UAE capital. Conrad Etihad Towers.
Feb. 11, Dubai. AIMA Middle East Forum. A conference for alternative asset managers in the UAE and the wider alternative assets eco-system. Kempinski Central Avenue Dubai.
Feb. 11-12, Cairo. Ai Everything Middle East and Africa, Egypt. Bringing together AI leaders, innovators, startups, investors, and policymakers to explore transformative technologies and accelerate AI adoption across industries. Egypt International Exhibition Center.
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.
Feb. 13-15, Munich. Munich Security Conference. A global forum for senior political, military and diplomatic leaders to debate major international security challenges. Hotel Bayerischer Hof.
Feb. 18-March 18, Abu Dhabi. Capital Majlis Abu Dhabi. A Ramadan dining experience featuring Arabian Nights Iftar and Suhoor menus. ADNEC.
March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC.
April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.
The Daily Circuit: Saudi revision 2030 + Egypt’s startup charter
In today’s Daily Circuit, we report on Egypt’s $1 billion plan to promote startups, the Oman Investment Authority selling a majority stake of its meat business, Abu Dhabi’s G42 building data centers in Vietnam, and the Dubai company using robotic dogs to make its construction sites more efficient. But first, Saudi Arabia’s Vision 2030 confronts economic change.
Saudi Arabia is getting ready to unveil an updated blueprint for Crown Prince Mohammed bin Salman’s Vision 2030 overhaul of the kingdom’s finances.
Finance Minister Mohammed Al-Jadaan said on Sunday that discussions on the government’s new five-year plan are underway at this week’s economic conference in AlUla that takes into account Saudi Arabia’s declining oil revenues and resulting budget shortfalls.
“We continue really to reprioritize, rework our policies, making sure that we enhance as we go to ensure that we enable the private sector to lead the economy,” Al-Jadaan told Bloomberg.
The government is recalibrating some of its most ambitious projects, including suspending construction of the giant cube-shaped Mukaab in Riyadh’s $50 billion New Murabba development and scaling back the $1 trillion Neom development’s futuristic city called The Line.
Saudi officials have also postponed the 2029 Asian Winter Games at Neom’s Trojena resort and reduced the original scope of Neom’s sprawling development to focus on what are projected to be the most promising sectors, such as tourism, logistics and technology.
Saudi Arabia’s Public Investment Fund, meanwhile, will be testing the appetite of foreign investors to put their money in the kingdom, including in the sovereign wealth fund’s 120 portfolio companies, at this week’s PIF Private Sector Forum, Arabian Gulf Business Insight reports.
Editor’s Note: Have thoughts or feedback? Hit reply or drop us a note at [email protected].
📰 Developing Stories
NILE STARTUPS
Egypt has rolled out a National Startup Charter, unveiling a $1 billion plan to turn young companies into engines of jobs and growth. The five-year program is designed to back about 5,000 startups and create half a million jobs as officials try to make entrepreneurship a mainstream career path, Arab News reports. Egyptian startups have been gaining traction, pulling in $238 million in venture capital over the past year. The charter promises simpler regulations, faster government approvals and better access to financing, addressing long-standing complaints about Egypt’s labyrinthine bureaucracy and red tape.
WATCH DOG
A Dubai-based construction company is using robotic dogs and smart watches to monitor the productivity of its workforce as they toil on some of the UAE’s most important projects. Alec Holdings, which is majority-owned by the Investment Corp. of Dubai, the main investment arm of the emirate’s government, is working on the first phase of the $30 billion Stargate data center in Abu Dhabi and the Wynn Resort in Ras Al Khaimah, the Gulf’s first casino complex. The company has distributed about 7,000 watches from Dubai-based AI productivity firm Brix and plans to double that number, Alec Holdings CEO Barry Lewis told The National.
💲 Sovereign Circuit
G42: The Abu Dhabi tech conglomerate and a consortium led by FPT Corp. and Viet Thai Group have agreed to build three data centers and develop sovereign AI inVietnam.
Oman Investment Authority: Brazil’s JBS, the world’s largest meat producer, agreed to invest $150 million to acquire an 80% stake in an Oman-based food business from the OIA.
Dubai Holding: Aldar and Dubai Holding, the investment conglomerate owned by Dubai’s royal family, have expanded their real estate joint venture by acquiring two Dubai land plots for a $10 billion development.
2PointZero: CEO Samia Bouazza told The National that the Group’s playbook is being driven by AI tools to execute disciplined capital deployment and remove inefficiencies.
↪↩ Closing Circuit
🚄 Fast Track: Saudi Arabia ordered 20 high-speed trains from Spain’s Talgo in a deal worth about 1.3 billion euros ($1.5 billion).
🛫 Runway Return: Saudi companies have agreed to help rebuild Syria’s aviation and telecommunications networks, including airport upgrades, mobile network restoration and the launch of a new airline, as the two countries launched 45 wide-ranging development initiatives.
🛡️ Shield Pact: France and Bahrain signed a bilateral defense agreement covering military cooperation, training and information sharing.
🗣 Circuit Chatter
💺 Airspace Spat: Algeria has begun procedures to cancel its bilateral air services agreement with the UAE amid escalating diplomatic tensions.
📈 Fair Share: Banks are asking Saudi Arabia’s markets regulator to rethink its plan to allocate more IPO shares to local investors, warning it could hurt stock performance and discourage foreign investment.
💸 Price Shock: Israel’s antitrust authority said it plans to fine El Al roughly 121 million shekels ($39 million) for unfairly raising fares during the Gaza war, accusing the airline of abusing its position when many foreign carriers halted flights.
🌍 Power Circuit
UAE President Sheikh Mohamed bin Zayedreceived Egypt’s President Abdel Fattah El Sisi on his arrival in Abu Dhabi on Monday.
Sheikh Mohamedmet withFriedrich Merz, Chancellor of Germany, and separately with Évariste Ndayishimiye, President of Burundi, at Qasr Al Shati palace in Abu Dhabi on Friday.
Emir of Qatar Sheikh Tamimattended the opening ceremony of the Winter Olympic Games 2026 in Milan, Italy, on Friday.
Emir of Kuwait Sheikh Meshal held talks with Qatar’s Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman, in Kuwait on Sunday.
Friedrich Merz, the German Chancellor, visited ADNOC’s headquarters in Abu Dhabi during his official visit to the UAE and was received by Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC, Chairman of Masdar and Executive Chairman of XRG.
Saad Sherida Al Kaabi, Minister of State for Energy Affairs of Qatar, met with Javier Martínez-Acha, Minister for Foreign Affairs of Panama, in Doha on Sunday.
Alya Alsalmi, a Saudi fashion designer, created bespoke outfits for Saudi Arabia’s team at Winter Olympics 2026, underway in Italy.
Nasser Al-Khelaifi, Chairman of Qatar Sports Investments, was hosted at a Super Bowl party in Santa Clara, Calif., by Michael Rubin, CEO of the Fanatics digital sports platform.
🎶 Culture Circuit
🎪 Inside the Tent: As Ramadan approaches, hotels and resorts around the UAE are preparing their elaborate Iftar tents – the special venues designed to host the evening meal served at sunset to break the daily fast. This year, Ramadan for the first time in decades will fall entirely in the Gulf’s mild winter season, making outdoor dining more appealing. The options are vast and magnificent – from an enormous tent at Emirates Palace Mandarin Oriental in Abu Dhabi and meals seated next to Dubai’s sculptural Museum of the Future, to dining among the sand dunes at a luxury desert camp.
📷 Photo of the Day
Sara Bejlek of the Czech Republic poses with the trophy after victory over Ekaterina Alexandrova in the Mubadala Abu Dhabi Open final at Zayed Sports City on Saturday. (Christopher Pike/Getty Images)
📅 Circuit Calendar
Feb. 8-12, Riyadh. World Defense Show. Brings together global weapons manufacturers, government procurement officers and defense contractors. Riyadh International Convention and Exhibition Centre.
Feb. 9-12, Dubai. WHX Dubai 2026. World Health Expo Dubai (formerly Arab Health) brings together global healthcare professionals, innovations and ideas within the sector. Dubai Exhibition Center.
Feb. 10-11, Abu Dhabi. Top Advisors & Investors Summit. The event will convene advisors, financiers, and investors from across the Middle East in the UAE capital. Conrad Etihad Towers.
Feb. 11, Dubai. AIMA Middle East Forum. A conference for alternative asset managers in the UAE and the wider alternative assets eco-system. Kempinski Central Avenue Dubai.
Feb. 11-12, Cairo. Ai Everything Middle East and Africa, Egypt. Bringing together AI leaders, innovators, startups, investors, and policymakers to explore transformative technologies and accelerate AI adoption across industries. Egypt International Exhibition Center.
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.
Feb. 13-15, Munich. Munich Security Conference. A global forum for senior political, military and diplomatic leaders to debate major international security challenges. Hotel Bayerischer Hof.
March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC.
April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.
The Daily Circuit: Saudia shops for new fleet + Etihad Rail spends $6.5B
In today’s Daily Circuit, we report on Etihad Rail signing $6.5 billion in contracts for the forthcoming Abu Dhabi-Dubai high-speed rail line, prospects for growth in German arms sales to the Gulf, the impact of this week’s Wall Street sell-off on the PIF’s portfolio, and Saudi Arabia passing hosting duties for the 2029 Asian Winter Games to Kazakhstan. But first, Saudia is shopping for new aircraft to take pilgrims to Mecca.
Saudi Arabia’s 80-year-old flagship carrier is preparing to make its largest jet order yet, as it refocuses on religious pilgrimages in the kingdom’s renewed push to become a travel and tourism hub.
Executives from Saudia are studying models from Airbus and Boeing for an order of at least 150 narrowbody and widebody jets, which are expected to replace some of its 200-strong fleet, while also boosting its total stock, Bloomberg reports.
It comes as startup Riyadh Air is preparing to launch full commercial services in coming weeks, with the goal of becoming an upmarket tourist and business carrier. Saudia will reposition itself to take advantage of the growth in religious tourists flocking to Mecca and Medina.
Meanwhile, Dubai’s Emirates airline has lost more than $10 billion in freight and passenger revenues because of ongoing delays in deliveries from Boeing and Airbus, Sir Tim Clark, its President, told Arabian Gulf Business Insights.
Emirates’ order backlog has now reached 315 planes from Boeing and 57 from Airbus, with 18 A350s due before the end of this year. Clark said about 120 of the Boeing planes should have been delivered by now.
Editor’s Note: Have thoughts or feedback? Hit reply or drop us a note at [email protected].
📰 Developing Stories
SWITCHING SLOPES
Kazakhstan will host the 2029 Asian Winter Games, an event originally planned for Saudi Arabia until the kingdom acknowledged last month that its $38 billion Trojena ski resort would not be ready in time. The Olympic Council of Asia named Almaty, Kazakhstan, as the replacement host city after deliberations on the sidelines of the 2026 Winter Olympics, which begin today in Milan. Riyadh and the Council agreed in late January to postpone Saudi Arabia’s staging of the Games, which had been awarded to Trojena as part of the NEOM megaproject in 2022. Kazakhstan last hosted the Asian Winter Games in 2011.
AT EASE
German Chancellor Friedrich Merz pledged to take a less restrictive approach to arms exports for Gulf states during a visit to Doha, Qatar. Speaking on Thursday as part of a broader diplomatic tour that included Saudi Arabia and the UAE, Merz said Germany would work “more intensively in arms cooperation than in recent years” with reliable partners in the region. He was accompanied by executives from major German firms, including Uniper and Diehl Defence, and said Germany also aims to increase liquefied natural gas imports from Qatar beyond current levels. Merz invited Sheikh Tamim bin Hamad Al Thani, Emir of Qatar, to visit Berlin in July and discussed expanded economic cooperation with Crown Prince Mohammed bin Salman of Saudi Arabia.
💲 Sovereign Circuit
L’Imad Holding:AD Ports Group has signed a 30-year agreement to manage and operate Aqaba Multipurpose Port in Jordan, investing $38.4 million.
Mubadala:The UAE government’sTawazun Council for Defense Enablement signed a comprehensive technology services agreement with Mubadala-owned Solutions+.
Public Investment Fund: Uber and Take-Two were among the stocks backed by Saudi Arabia’s sovereign wealth fund that fell as much as 5% in Wednesday’s sell-off on Wall Street.
International Holding Co.:Abu Dhabi conglomerate 2PointZero Group, a subsidiary of IHC, posted a $930 million profit in its first full financial year after merging with Multiply Group and Ghitha Holding last year. The group’s revenue more than tripled to $1.9 billion.
↪↩ Closing Circuit
🚆 Emirati Express: Etihad Rail has awarded contracts worth $6.5 billion for the Abu Dhabi-Dubai high-speed rail line, MEED reports.
🕌 Islamic Finance: Kuwait is preparing legislation to regulate Islamic bonds, or sukuks, both domestically and in international markets.
💸 African Venture: Dubai-based Maser Group is pivoting from consumer electronics into African farmland and data centers, committing $1.6 billion across Nigeria, Ghana, and Kenya.
🗣 Circuit Chatter
🛢️ Shale Debut: Kuwait is exploring its first shale oil and gas development after state producer KOC held talks with U.S. drillers Devon Energy and EOG Resources.
🌍 Trade Launch: The Gulf Cooperation Council has agreed on formal terms to start talks on a free-trade pact with India and is also nearing a long-negotiated free-trade deal with the U.K.
🛋️ Virtual Housing: SmartCrowd said its tokenized real estate arm Nawy Shares has received in-principle approval from Dubai’s Virtual Assets Regulatory Authority.
🌍 Power Circuit
Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, witnessed alongside Dominican President Luis Abinader, the signing of an agreement at the World Governments Summit in Dubai to host the WGS-Latin America Regional Dialogue in the Dominican Republic by the end of this year.
Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, met with Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, UAE Minister of Defense and Deputy Prime Minister, and Chairman of the Dubai Executive Council, on the sideline of the World Governments Summit.
Sheikh Hamdanlaunched a driverless taxi service developed by Baidu Apollo Go, taking a ride in one of the vehicles to the World Governments Summit on Thursday.
Sheikh Hamdanmet with Milojko Spajić, Prime Minister of Montenegro, at the World Governments Summit on Thursday.
➿ On the Circuit
Dr. Thani Al Zeyoudi, UAE Minister of Foreign Trade, said that the UAE has overtaken Russia to become the leading foreign investor in Armenia.
Ehab Rashad, Vice Chairman of Egyptian asset manager Mubasher Capital, said it has submitted documents to the Financial Regulatory Authority to launch what it hopes will be the country’s first silver investment fund, though no launch date has been set.
Noura Al Kaabi, UAE Minister of State, participated in a high-level panel discussion held as part of the Association of Caribbean States 10th International Cooperation Conference, convened on the sidelines of the World Governments Summit in Dubai.
🎶 Culture Circuit
🎾 Hometown Hero: Philippines tennis star-in-the-making Alexandra Eala has been selling out stadiums as she rapidly ascends the rankings at the Mubadala Abu Dhabi Open. The 20-year-old had a near-magical run in the singles draw, finally losing to second seed Ekaterina Alexandrova on Thursday, and stunning her growing fanbase in the UAE Capital, which has a large Filipino population. Eala has teamed up with Indonesian rising star Janice Tjen for the doubles, with the pair set to compete in their first semifinals at a WTA 500 event this evening. Clara Tauson, Sara Bejlek, Ekaterina Alexandrova and Hailey Baptiste play off tonight in the singles semifinals, with the grand finale on Saturday.
📷 Photo of the Day
Alexandra Eala of the Philippines poses with fans while celebrating victory over Aliaksandra Sasnovich in the second round during day four of the Mubadala Abu Dhabi Open at Zayed Sports City. (Christopher Pike/Getty Images)
📅 Circuit Calendar
Jan. 31-Feb. 7, Abu Dhabi. Mubadala Abu Dhabi Open 2026. Some of the biggest names on the WTA Tour compete in the UAE capital, including defending champion Belinda Bencic. Zayed Sports City International Tennis Centre.
Feb 1-6, Dubai. Dubai Fashion Week. The event showcases the latest collections by global and regional designers and aims to position Dubai as a major creative hub on the global fashion calendar. Dubai Design District.
Feb. 8-12, Riyadh. World Defense Show. Brings together global weapons manufacturers, government procurement officers and defense contractors. Riyadh International Convention and Exhibition Centre.
Feb. 9-12, Dubai. WHX Dubai 2026. World Health Expo Dubai (formerly Arab Health) brings together global healthcare professionals, innovations and ideas within the sector. Dubai Exhibition Center.
Feb. 10-11, Abu Dhabi. Top Advisors & Investors Summit. The event will convene advisors, financiers, and investors from across the Middle East in the UAE capital. Conrad Etihad Towers.
Feb. 11, Dubai. AIMA Middle East Forum. A conference for alternative asset managers in the UAE and the wider alternative assets eco-system. Kempinski Central Avenue Dubai.
Feb. 11-12, Cairo. Ai Everything Middle East and Africa, Egypt. Bringing together AI leaders, innovators, startups, investors, and policymakers to explore transformative technologies and accelerate AI adoption across industries. Egypt International Exhibition Center.
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.
Feb. 13-15, Munich. Munich Security Conference. A global forum for senior political, military and diplomatic leaders to debate major international security challenges. Hotel Bayerischer Hof.
The Daily Circuit: Chevron to explore Syrian coast + QIA chip stake
In today’s Daily Circuit, we report on the Qatar Investment Authority’s new stake in AI chip startup Positron, booming office registrations for the Dubai International Investment Centre, longtime Emirates airline President Tim Clark’s vision for a global hotel empire and Saudi Arabia issuing “passports” to its burgeoning camel population. But first, Syria teams up with Chevron to tap its offshore energy resources.
Chevron has signed a preliminary agreement with Syria’s state-owned oil company and Qatar’s UCC Holding to study prospects for finding offshore oil and gas as the country tries to rebuild its economy from 14 years of civil war.
At a signing ceremony in Damascus on Wednesday, Syrian Petroleum Co. CEO Youssef Kabalawi described the venture as “the most important” offshore energy exploration deal in Syria’s history.
For Syria, the agreement offers a possible route toward developing offshore resources for the first time as the fledgling government of President Ahmed al-Shaara seeks to revive energy production and attract foreign investment.
The deal builds on Chevron’s expanding eastern Mediterranean portfolio, which includes a recently approved expansion of Israel’s Leviathan gas field, which is set to supply Egypt and others with more than $35 billion worth of natural gas.
Separately, TotalEnergies is leading a consortium with Eni and QatarEnergy that received a new permit to explore offshore Lebanon. The French company began looking for natural gas off the Lebanese coast in late 2022, but results so far have been disappointing.
Editor’s Note: Have thoughts or feedback? Hit reply or drop us a note at [email protected].
📰 Developing Stories
EMIRATES EMPIRE
Sir Tim Clark, President of Emirates Group, is pushing for the future leadership of the airline to see out his long-held dream of building a global hospitality empire. “If I had my way, I would have an Emirates hotel in every city in the world,” Clark told Arabian Business Gulf Insightson the sidelines of the World Governments Summit this week in Dubai. Clark, who has helmed Dubai’s flagship carrier for 23 years, has been preparing the groundwork for his eventual successor, including a 20-year blueprint for future growth. Emirates signed a deal with Marriott International in January to reopen Emirates Wolgan Valley, a luxury lodge in Australia’s Blue Mountains, under the Ritz-Carlton brand.
CAMEL ID
Every camel in Saudi Arabia will soon be issued its own “passport.” The ID documents will include each camel’s name, date and place of birth, breed, gender, coloring, place of issuance and microchip number, as well as photographs of the animal to ensure ease of identification, the Ministry of Environment, Water and Agriculture said. The initiative is aimed at organizing the camel sector to improve market efficiency and confidence. It is also expected to increase the market value of Saudi Arabia’s camels at local and international auctions.
G42: Cerebras, the chipmaker that counts UAE AI giant G42 as its main customer, has raised $1 billion in a funding round led by Tiger Global Management that valued the company at $23 billion.
Public Investment Fund: Portuguese soccer star Cristiano Ronaldo will boycott a second consecutive Saudi Pro League game for Al Nassr and may seek a June exit from the club unless the PIF guarantees changes to its management, ESPN reports.
↪↩ Closing Circuit
💰 Stake Shift: Shell agreed to sell a 20% stake in Brazil’s offshore Orca project to Kuwait Foreign Petroleum Exploration Co. while retaining operatorship and a 50% share ahead of expected production later this decade.
⛽ LNG Linkup: Malaysia’s Petronas is set to sign a 20-year agreement to buy 2 million tons of LNG annually from QatarEnergy.
💻 EdTech Partners: Jordan-based Alefredo EdTech acquired U.K. tutoring firm Tutor House, marking its entry into the British market and accelerating its expansion into an AI-powered, hybrid learning platform.
📹 Intel Angle: Senai, an Israeli startup that turns massive streams of social-media video and posts into structured intelligence, raised $6.2 million in a funding round led by 10D Ventures.
🗣 Circuit Chatter
⛏️ Copper Pipeline: The Democratic Republic of Congo will ship 50,000 tons of copper to Saudi Arabia and the UAE through a U.S.-backed partnership with Mercuria Energy Group, as Washington seeks to counter China’s dominance in critical minerals.
🏭 New Interests: Kuwait launched the Shahin and Saif projects to attract international oil companies and boost crude capacity to 4 million barrels a day by 2035.
🏦 Capacity Building: The Dubai International Financial Centre recorded a 28% rise in company registrations last year, driven by hedge funds and wealth managers.
🌍 Power Circuit
UAE President Sheikh Mohamed bin Zayedmet with a number of heads of state, government leaders, and delegations taking part in the World Governments Summit in Dubai, including Siljanovska-Davkova, President of North Macedonia, and Evika Siliņa, Prime Minister of Latvia.
Sheikh Mohamedsaid on his X account that the UAE is fully committed to supporting a “greener and healthier world for all,” as the UAE marked National Environment Day on Wednesday.
Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, met withJason Isaacson, Chief Policy and Political Affairs Officer of the American Jewish Committee, on the sidelines of the World Governments Summit in Dubai on Thursday. He also met with Barham Salih, United Nations High Commissioner for Refugees; Catherine Russell, Executive Director of UNICEF; Santiago Peña, President of Paraguay; Ararat Mirzoyan, Minister of Foreign Affairs of Armenia; and Jeyhun Bayramov, Minister of Foreign Affairs of Azerbaijan.
Saudi Crown Prince Mohamed bin Salmanmet withGerman Chancellor Friedrich Merz who began a tour of Saudi Arabia, Qatar and the United Arab Emirates on Wednesday.
Sheikh Ahmed Abdullah Al-Ahmad Al-Sabah, Kuwait’s Prime Minister, said governments of the future should be measured by tangible outcomes they deliver to citizens, during his address at the World Governments Summit in Dubai.
Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, held a phone call with his Iranian counterpart, Abbas Araghchi, on Wednesday ahead of the nuclear talks between Tehran and Washington.
➿ On the Circuit
Steve Witkoff, the U.S. Presidential Peace Envoy, and Jared Kushner, U.S. President Donald Trump’s son-in-law, are leading the U.S. delegation for a second round of Russia-Ukraine peace talks in Abu Dhabi, which began on Wednesday.
Noura Al Kaabi, UAE Minister of State, met withMakhtar Diop, Managing Director of the International Finance Corporation, on the sidelines of the World Governments Summit in Dubai.
Amer Bisat, Lebanon’s Minister of Economy, told The National that his country is working hard to “slowly but surely” regain the confidence of investors from the region
🎶 Culture Circuit
🎨 Show Time: The inaugural Art Basel Qatar opened in Doha on Wednesday, bringing together 87 galleries from 31 countries in a new format for the global contemporary art fair. Running until Saturday, the event is taking over Msheireb Downtown Doha with the theme “Becoming”. The new fair has been shaped by its curator, Egyptian artist Wael Shawky, to be more like a biennale, with public elements spread across Doha, unrestrained by booths. “This was not about reproducing an existing model in a new geography,” Shawky told The National. “It was a chance to co-create something new, rooted in and inspired by Qatar and the wider region.”
📷 Photo of the Day
Visitors view artworks by Pablo Picasso during the “Picasso, the Figure” exhibition at the Louvre Abu Dhabi museum on Wednesday. (Giuseppe Cacace / AFP via Getty Images)
📅 Circuit Calendar
Jan. 31-Feb. 7, Abu Dhabi. Mubadala Abu Dhabi Open 2026. Some of the biggest names on the WTA Tour compete in the UAE capital, including defending champion Belinda Bencic. Zayed Sports City International Tennis Centre.
Feb 1-6, Dubai. Dubai Fashion Week. The event showcases the latest collections by global and regional designers and aims to position Dubai as a major creative hub on the global fashion calendar. Dubai Design District.
Feb. 8-12, Riyadh. World Defense Show. Brings together global weapons manufacturers, government procurement officers and defense contractors. Riyadh International Convention and Exhibition Centre.
Feb. 9-12, Dubai. WHX Dubai 2026. World Health Expo Dubai (formerly Arab Health) brings together global healthcare professionals, innovations and ideas within the sector. Dubai Exhibition Center.
Feb. 10-11, Abu Dhabi. Top Advisors & Investors Summit. The event will convene advisors, financiers, and investors from across the Middle East in the UAE capital. Conrad Etihad Towers.
Feb. 11, Dubai. AIMA Middle East Forum. A conference for alternative asset managers in the UAE and the wider alternative assets eco-system. Kempinski Central Avenue Dubai.
Feb. 11-12, Cairo. Ai Everything Middle East and Africa, Egypt. Bringing together AI leaders, innovators, startups, investors, and policymakers to explore transformative technologies and accelerate AI adoption across industries. Egypt International Exhibition Center.
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.
Feb. 13-15, Munich. Munich Security Conference. A global forum for senior political, military and diplomatic leaders to debate major international security challenges. Hotel Bayerischer Hof.
The Daily Circuit: Saudi energy grid pivot + ADNOC’s dim sum bonds
In today’s Daily Circuit, we report on ADNOC’s plan to issue $2 billion of dim sum bonds, G42’s “agent factory” for AI computing, QatarEnergy’s 27-year Japanese supply contract and how the Dubai Loop will cut 20-minute downtown commutes to three minutes. But first, Saudi Arabia’s rapid pivot to enormous batteries.
Saudi Arabia has emerged as a surprise leader in the market for massive industrial batteries and is now one of the world’s fastest deployers of grid-scale energy storage.
A new report on the state of the battery market from Volta Foundation shows that the kingdom, the world’s biggest crude oil exporter, is among the top adopters of large-scale batteries, which are being used to help stabilize its electricity system as it increases reliance on renewable energy.
The speed of the transformation has caught industry watchers by surprise – just two years ago Saudi Arabia had no grid-scale batteries installed and now it ranks fifth globally for annual installed capacity, with almost three gigawatts added last year, the Financial Times reports.
It comes as the country is ramping up efforts to build out its renewable energy and green hydrogen industries to diversify away from fossil fuels, following a similar approach to the UAE, which is investing billions in solar and wind farms both domestically and overseas.
Saudi Energy Minister Abdulaziz bin Salman signed an agreement with his Turkish counterpart Alparslan Bayraktar on Tuesday to invest $2 billion to build solar and wind projects in Turkey.
Editor’s Note: Have thoughts or feedback? Hit reply or drop us a note at [email protected].
📰 Developing Stories
TUNNEL VISION
Dubai unveiled the first four stations of its planned underground Dubai Loop, including stops at the Burj Khalifa skyscraper and the Dubai International Financial Centre, as part of a $545 million effort to ease downtown congestion. The full network – built with Elon Musk’s Boring Company – is expected to stretch about 22 kilometers (13.6 miles) with 19 stations, and is designed to cut travel time on the initial route from about 20 minutes to three minutes. In a separate above-ground project called the Glydways system, Dubai plans to launch small autonomous electric vehicles running on narrow dedicated lanes and linked to the Metro that can move more than 10,000 passengers per hour in each direction.
YUAN BET
ADNOC is preparing to raise as much as $2 billion through yuan-denominated dim sum bonds – the UAE energy company’s first debt issuance in China’s currency. The deal, which comes as Gulf borrowers increasingly look to Asian markets for capital, highlights deepening financial ties between the UAE and China, Bloomberg reports. ADNOC is working with banks on the potential offshore yuan bond sale and is meeting investors as part of the process. U.S. officials have repeatedly warned about the security and strategic risks tied to the UAE’s expanding financial and technology links with Beijing.
💲 Sovereign Circuit
L’Imad Holding Co: AD Ports Group raised $115 million to support the development of the Noatum Ports – Safaga Terminal in Egypt.
Abu Dhabi Investment Authority: ADIA sold its 50% stake in Sydney’s O’Connell office precinct to Charter Hall for $351 million, as the Abu Dhabi fund rebalances its Asia-Pacific portfolio.
G42: The Abu Dhabi AI company is developing national infrastructure for autonomous AI systems, alongside a large-scale computing centre known as the “agent factory,” CEO Peng Xiao told a panel at the World Governments Summit in Dubai on Tuesday.
Abu Dhabi Investment Council: Saeed Al Mazrouei, CEO of ADIC, an independent unit of Mubadala, told Bloomberg that the organization’s goal was to lift returns by expanding its asset classes – including secondaries, insurance and Bitcoin – without abandoning its endowment-style approach.
↪↩ Closing Circuit
🚧 Big Spender: Abu Dhabi developer Aldar awarded $18 billion in contracts across the UAE in 2025, spanning residential, commercial, infrastructure, and logistics projects.
🛢️ Field Expansion: Oilfield services provider SLB secured a $1.5 billion contract to manage the next development phase of Kuwait’s Mutriba oil field.
⛽ Gas Deal: QatarEnergy, the state-owned oil and gas company, signed a 27-year agreement with Japan’s Jera to supply 3 million tons a year of LNG starting in 2028.
🗣 Circuit Chatter
💰 Risky Business: Saudi National Bank is exploring entry into the significant-risk-transfer market as it looks to offload loan exposure, free up capital and expand lending capacity, Bloomberg reports.
🧠 AI Inflation: Artificial intelligence is likely to add to near-term inflationary pressures as governments and companies, particularly in the Gulf, pour unprecedented investment into AI infrastructure, a research chief at BlackRock told Arabian Gulf Business Insights.
🌴 Muscat Chat: Iran has asked the United States to move diplomatic talks from Turkey to Oman and restrict them to its nuclear program in a meeting between U.S. envoy Steve Witkoff and Iranian Foreign Minister Abbas Araghchi.
🌍 Power Circuit
UAE President Sheikh Mohamed bin Zayed met withDaniel Noboa, President of Ecuador, at Qasr Al Bahr palace in Abu Dhabi on Tuesday. Sheikh Mohamed also met with Santiago Peña, President of Paraguay and withMasrour Barzani, Prime Minister of the Kurdistan Region of Iraq.
Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of L’Imad Holding Co, has become one of the top royal business figures in the UAE, a key point of contact for visitors ranging from U.S. President Donald Trump to BlackRock CEO Larry Fink, Bloomberg reports.
Saudi Crown Prince Mohammed bin Salmanmet with Turkey’s President Recep Tayyip Erdoğan in Riyadh on Tuesday. Prince Mohammed also held a phone call with Russia’s President Vladimir Putin.
Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, swore in three new judges of the Dubai International Financial Centre Courts.
Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, met with Chairman of the Cabinet of Ministers of Kyrgyzstan Adylbek Kasymaliev on Tuesday.
Sheikh Hazza bin Zayed, UAE Ruler’s Representative in Al Ain Region, reviewed the region’s key strategic plans for cultural and tourism projects during a meeting with a delegation led by Mohamed Khalifa Al Mubarak, Chairman of the Department of Culture and Tourism – Abu Dhabi.
➿ On the Circuit
Josh D’Amaro will succeedBob Iger as CEO of Walt Disney Co. on March 18. The two came to the UAE last month to tour the future site of Disneyland Abu Dhabi and meet with Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed.
Ray Dalio, Founder of Bridgewater Associates, said during a panel discussion at the World Governments Summit in Dubai on Tuesday that geopolitical tensions and volatile capital markets have put the world “on the brink” of a capital war
Kristalina Georgieva, Managing Director of the International Monetary Fund, called on Gulf countries to create an Airbus-style company that could foster unity and deepen economic integration of the Middle East bloc.
Ben Harburg, the American investor who is the first foreigner to buy a Saudi Pro League team, talked to Bloomberg as he celebrated Al Kholood reaching the semi-finals of the King’s Cup for the first time.
🎶 Culture Circuit
🍽️ Good Eating: The Middle East and North Africa’s 50 best restaurants were named at a glittering ceremony at Emirates Palace Mandarin Oriental in Abu Dhabi on Tuesday night. Leading the list was Khufu’s, a gastronomic restaurant with a knockout view of the Giza Pyramids – the first time a restaurant in Egypt has taken the top spot. Abu Dhabi and Dubai dominated the rest of the list, with Dubai’s Kinoya and Tresind Studio taking second and third place.
📷 Photo of the Day
Illuminated drones fly over the Dr. Sultan Al-Qasimi Centre, during the 15th annual Sharjah Light Festival on Tuesday in the emirate of Sharjah. (Giuseppe Cacace / AFP via Getty Images)
📅 Circuit Calendar
Jan. 31-Feb. 7, Abu Dhabi. Mubadala Abu Dhabi Open 2026. Some of the biggest names on the WTA Tour compete in the UAE capital, including defending champion Belinda Bencic. Zayed Sports City International Tennis Centre.
Feb 1-6, Dubai. Dubai Fashion Week. The event showcases the latest collections by global and regional designers and aims to position Dubai as a major creative hub on the global fashion calendar. Dubai Design District.
Feb. 2-5, Doha. LNG2026. Qatar holds the 21st edition of its annual international Conference and exhibition on liquefied natural gas. Qatar National Convention Center.
Feb. 3-5, Dubai. World Governments 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 hosts the first regional edition of the real estate technology event. Grand Hyatt Dubai.
Feb. 8-12, Riyadh. World Defense Show. Brings together global weapons manufacturers, government procurement officers and defense contractors. Riyadh International Convention and Exhibition Centre.
Feb. 9-12, Dubai. WHX Dubai 2026. World Health Expo Dubai (formerly Arab Health) brings together global healthcare professionals, innovations and ideas within the sector. Dubai Exhibition Center.
Feb. 10-11, Abu Dhabi. Top Advisors & Investors Summit. The event will convene advisors, financiers, and investors from across the Middle East in the UAE capital. Conrad Etihad Towers.
Feb. 11, Dubai. AIMA Middle East Forum. A conference for alternative asset managers in the UAE and the wider alternative assets eco-system. Kempinski Central Avenue Dubai.
Feb. 11-12, Cairo. Ai Everything Middle East and Africa, Egypt. Bringing together AI leaders, innovators, startups, investors, and policymakers to explore transformative technologies and accelerate AI adoption across industries. Egypt International Exhibition Center.
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.
Feb. 13-15, Munich. Munich Security Conference. A global forum for senior political, military and diplomatic leaders to debate major international security challenges. Hotel Bayerischer Hof.
The Daily Circuit: Davos draws Gulf CEOs + UAE-India gas deal
In today’s Daily Circuit, we’re reporting on the UAE’s $3 billion LNG deal with India, ACWA Power’s acquisition of a stake in Kuwait’s Az Zour project, private equity firm Alta Semper taking control of UAE-based sports nutrition company Nature’s Rule, and a joint defense venture between the UAE’s EDGE and Qatar’s Barzan Holdings. But first, Gulf executives navigate Switzerland’s frigid terrain at the World Economic Forum.
Davos is once again pulling the Gulf’s top business leaders to Switzerland’s snow-capped ski resort, where executives from the Middle East are mingling at the World Economic Forum with global corporate heavyweights including Bridgewater’s Ray Dalio, BlackRock’s Larry Fink and Palantir’s Alex Karp.
From Saudi Arabia, the delegation includes Talal Al Maiman, CEO of Kingdom Holding, Tareq Al Sadhan, CEO of Saudi National Bank, Abdullah Aladel, managing director and CEO of Alkhair Capital, Marco Arcelli, CEO of ACWA Power, and Jerry Inzerillo, group CEO of Diriyah Company.
The UAE contingent includes Khaldoon Al Mubarak, Managing Director and CEO of Mubadala Investment Co., and Dr. Sultan Al Jaber, CEO of ADNOC and Minister of Industry and Advanced Technology, alongside private-sector leaders such as Peng Xiao, CEO of G42, and Badr Jafar, CEO of Crescent Enterprises.
Qatar is represented by Mansoor Al-Mahmoud, CEO of the Qatar Investment Authority, and Saad Al-Kaabi, president and CEO of QatarEnergy. Bahrain’s presence includes Abdulla Al Khalifa, CEO of Mumtalakat, the kingdom’s sovereign wealth fund, and Hisham Alrayes, CEO of GFH Financial Group.
Several of the execs were making the rounds at the TV networks that give Davos wall-to-wall coverage. Al Mubarak, for one, annually uses the Swiss conference as a pulpit to raise Mubadala’s international visibility.
“Leaving the noise and the hype aside, I think we have a very clear view of what we think are the investable spaces,” Al Mubarak said in an interview with Bloomberg. “Particularly when it comes to AI enablement, there are a lot of aspects that I think we believe in.”
Editor’s Note: Have thoughts or feedback? Hit reply or drop us a note at [email protected].
📰 Developing Stories
GAS DIPLOMACY
India has signed a $3 billion deal to buy liquefied natural gas from the United Arab Emirates, making it the UAE’s largest LNG customer, as the two countries moved to deepen trade and defense ties. The agreement was struck during a working visit by UAE President Sheikh Mohamed bin Zayed, with both sides pledging to double bilateral trade to $200 billion within six years and pursue a strategic defense partnership, Reuters reports. As per the agreement, Abu Dhabi state firm ADNOC Gas will supply half a million tons of LNG a year to Hindustan Petroleum over 10 years, taking ADNOC’s total contracts with India to more than $20 billion. Indian officials said the defense cooperation would not draw New Delhi into regional conflicts, despite shifting alliances in the Gulf.
TRADE BOT
Abu Dhabi artificial intelligence firm Presight will develop a platform to boost the UAE’s foreign trade capabilities by analyzing real-time data from sources including ports, shipping routes and customs records. The G42 company signed an agreement with the UAE’s Ministry of Foreign Trade, announced on Monday, to create a series of AI-powered tools that will support its mission to be the world’s first AI-driven trade ministry. “The future of trade belongs to economies that can see early and move fast, Mansoor Al Mansoori, Vice Chairman of Presight, said. “By putting real-time insight into the hands of decision-makers, we reduce friction, compress timelines, and help governments and businesses operate with confidence.”
💲 Sovereign Circuit
Mubadala: Mubadala Bio’s subsidiary Bioventure Healthcare secured the European Union’s Good Manufacturing Practice certification, a key requirement for enabling pharmaceutical product export to the EU.
Public Investment Fund: ACWA Power, the PIF-owned Saudi energy utility, bought Engie’s 17.5% stake in Kuwait’s Az Zour independent water and power project, consolidating its ownership in one of the country’s largest utility facilities.
ADQ: AD Ports Group, majority owned by ADQ, signed an agreement with Nigeria to explore collaboration opportunities across ports, logistics, maritime services and digital trade infrastructure.
ADQ: Safeen Drydocks, part of Noatum Maritime, which is owned by ADQ’s AD Ports Group, fully acquired Balenciaga Astilleros Shipyard, one of Spain’s most established shipbuilding and repair facilities, for $13 million.
EDGE Group: UAE defense group EDGE and Qatar’s Barzan Holdings have agreed to form a joint venture to co-develop advanced defense technologies.
↪↩ Closing Circuit
🍎 Nutrition Bet: Private equity firm Alta Semper agreed to acquire a majority stake in UAE-based sports nutrition company Nature’s Rule, describing the deal as a step toward scaling the business through a more institutional growth strategy.
💻 Blockchain Bonds: Emirates NBD, Dubai’s largest bank, issued the region’s first Dirham-denominated digital bond, raising $272.3 million.
🏢 Office Expansion: Egyptian developer Marakez secured $63 million from Kuwait Finance House – Egypt to expand the commercial Mindhaus Campus at its District 5 project in New Cairo.
🚇 Metro Link: Dubai’s RTA has invited consultants to bid for designing a 3km Route 2020 metro extension from the Expo 2020 station to Al Maktoum International Airport’s West Terminal.
📈 Economy Performing: The IMF raised its 2026 growth forecast for Saudi Arabia to 4.5% citing higher oil output, strong domestic demand, and ongoing reforms.
💰 Dreaming Big: Northern Graphite’s plan to build a $200 million graphite battery anode plant in Saudi Arabia with Obeikan has fueled an eightfold revenue growth forecast and a sharp rise in its shares.
🍪 Snack Deal: Dubai-listed Unikai Foods received a $35 million cash takeover bid from a Kuwait’s Al Wafir for Marketing Services.
🌍 Power Circuit
Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, visited the fifth edition of World of Coffee Dubai on Monday at Dubai World Trade Centre.
Sheikh Hamdan bin Zayed, Ruler’s Representative in the Al Dhafra Region, reviewed the outcome of this year’s Liwa International Festival on Monday.
Sheikh Mansoor bin Mohammed, Vice Chairman of the Dubai Health Board of Directors, attended the opening of the annual UAE International Dental Conference and Arab Dental Exhibition on Monday.
➿ On the Circuit
Faisal al-Ibrahim, Saudi Arabia’s Investment Minister, said in an interview with Reuters in Davos that the kingdom’s private sector is taking on a larger role in delivering Vision 2030 projects as the government seeks to shift more execution and financing to companies outside the state.
Dr. Thani Al Zeyoudi, UAE Minister for Foreign Trade, led a high-level government and business delegation to the Lualaba Province in the Democratic Republic of Congo for the UAE-DRC Trade and Investment day.
Nayef Nasser Alnasserwas appointed Managing Director of Ithmaar Development Company, succeeding Mohammed Khalil Alsayed.
David Hadley, CEO of UAE-based NMC Healthcare, said that hospitals are increasingly under strain as profit margins shrink and may have to consolidate further to unlock economies of scale.
Rashid Al Dhaheri, an Emirati racing driver, won the opening round of the Formula Regional Middle East Championship, held at Yas Marina Circuit.
🎶 Culture Circuit
📺 On the Box: Netflix has unveiled its line-up of Arabic releases for 2026, including new seasons of hit reality shows “Love is Blind, Habibi” and “Dubai Bling.” Season 2 of the streamer’s regional adaptation of the global matchmaking show introduces potential couples on either side of a wall to test if they can form a bond without seeing one-another. “Dubai Bling,” now in its fourth season, follows a cast of fashion-obsessed socialites who revel in delivering snappy one-liners like “I’m not playing hard to get, I am hard to get.”
📷 Photo of the Day
UAE President Sheikh Mohamed bin Zayed and Indian Prime Minister Narendra Modi watch as Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC, and Hardeep Singh Puri, India’s Minister of Petroleum and Natural Gas, exchange documents for a deal between ADNOC Gas and Hindustan Petroleum Corporation in New Delhi on Monday. (Emirates News Agency)
📅 Circuit Calendar
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. 20-22, 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. 26-30, Dubai. Gulf Food. The world’s largest food and beverage industry event. Dubai World Trade Centre & Dubai Exhibition Centre.
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. 2-4, Abu Dhabi. The Abu Dhabi AI Summit. The summit aims to strengthen collaboration between MBZUAI and the U.S. NSF Athena Institute to advance research, entrepreneurship and opportunities in Edge AI. Mohamed bin Zayed University of Artificial Intelligence.
Feb. 2-5, Doha. LNG2026. The 21st International Conference & Exhibition on Liquefied Natural Gas. Qatar National Convention Center.
Feb. 3, Dubai. World Laureates Summit. Held alongside the World Government Summit, the inaugural event will bring 200 of the world’s top scientific researchers, marking a historic integration of science and government.
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.
The Daily Circuit: Gulf financial chiefs in Davos + Masdar-Engie venture
In today’s Daily Circuit, we’re reporting on the Abu Dhabi solar plant being built by Masdar and French utility Engie, NMDC Group’s acquisition of Spain’s Lantania Aguas water company, Libya’s $2.7 billion free zone partnership with firms in Qatar and Italy, and more international shipping lines cautiously returning to the Red Sea. But first, Davos takes center stage.
From the Gulf’s desert capitals to the icy streets of Davos, senior government officials and corporate powerbrokers from the United Arab Emirates, Saudi Arabia, Qatar and Bahrain are converging on Switzerland for the World Economic Forum, the weeklong economic jamboree that opens tonight.
The UAE is sending a delegation of more than 100 ministers, senior officials and business leaders, led by Sheikha Latifa bint Mohammed, Chairperson of Dubai Culture and Arts Authority, with Finance Minister Mohamed bin Hadi Al Hussaini, Minister of Economy Abdullah bin Touq Al Marri and Mubadala CEO Khaldoon Al Mubarak among those holding meetings and appearing on panels.
Saudi Arabia’s delegation is headed by Foreign Minister Prince Faisal bin Farhan and includes Finance Minister Mohammed Al-Jadaan, Investment Minister Khalid Al-Falih, Ambassador to the U.S. Princess Reema Bandar Al Saud and senior executives from the kingdom’s Public Investment Fund and flagship companies.
Qatar is also marking a strong presence, bringing a host of government and business leaders including Ali bin Ahmed Al-Kuwari, Minister of Finance, Mohammed bin Ali Al Mannai, Minister of Communications and Information Technology, and senior executives from the Qatar Investment Authority, Qatar Stock Exchange and major banks.
Bahrain’s delegation will feature Finance and National Economy Minister Sheikh Salman bin Khalifa, Sustainable Development Minister and Economic Development Board CEO Noor bint Ali Al Khalifa, Industry and Commerce Minister Abdullah bin Adel Fakhro, and Mumtalakat CEO Sheikh Abdullah bin Khalifa.
All four countries will run their own bases of operations along the Promenade, the main street in Davos — UAE House, Saudi House, the Invest Qatar Pavilion and GFH Bahrain — featuring speakers and panel discussions designed to attract investors and deepen global ties.
Editor’s Note: Kindly let us know your thoughts and feedback by replying to this newsletter or emailing us at [email protected].
Editor’s Note: Have thoughts or feedback? Hit reply or drop us a note at [email protected].
📰 Developing Stories
INDIA BUYING
UAE President Sheikh Mohamed bin Zayed began a visit today to India, where he was due to meet Prime Minister Narendra Modi. This marks the UAE President’s third visit, and comes after trade between the UAE and India surged to $100 billion in 2024‑25 following implementation of a Comprehensive Economic Partnership Agreement. The visit also comes as state-owned Etihad Water and Electricity said it is planning a feasibility study for a proposed undersea power link. The “one sun, one world, one grid” initiative would allow solar power to be traded between the countries. The UAE is home to more than 3.5 million Indians, its largest expatriate community.
CREDIT SHIFT
Sovereign wealth funds from the Gulf are putting more money into private lending deals in emerging markets to earn higher returns. The move reflects a search for alternatives as traditional bonds offer lower yields and banks pull back from riskier markets, Bloomberg reports. The Gulf funds – including the UAE’s Mubadala and Abu Dhabi Investment Authority, and Saudi Arabia’s Public Investment Fund – are teaming up with global asset managers to provide loans directly to companies and projects that struggle to access financing. Mubadala Capital, for example, the sovereign fund’s alternative asset management arm, has secured about $240 million in commitments for its latest Brazil vehicle after closing a $710 million fund focused on the country in 2023.
💲 Sovereign Circuit
Masdar: Masdar and French utility Engie have reached financial close on the 1.5GW Khazna Solar PV project in Abu Dhabi, backed by financing from seven banks and a 30-year power purchase agreement with Emirates Water and Electricity Company.
International Holding Co.: NMDC Group, majority owned by IHC’s Alpha Dhabi Holding, said its subsidiary NMDC Infra agreed to acquire a 51% stake in Spain’s Lantania Aguas to form Lantania NMDC Water, creating a global water-sector player.
Public Investment Fund: The Royal Commission for AlUla signed a memorandum with SURJ Sports Investment to explore sports programmes, joint investments and hosting major events to boost AlUla’s position as a global sports destination.
Mubadala: Waleed Al Mokarrab Al Muhairi, Mubadala’s Deputy Group CEO, joined the first episode of the Abu Dhabi sovereign fund’s newly-launched podcast series “The Exchange” to talk about conviction-led investing.
↪↩ Closing Circuit
💰 Rising Competition: Libya signed a $2.7 billion public-private partnership with Qatari and Italian firms to expand the Misurata Free Zone port into a regional transhipment hub competing with Egypt and Morocco.
🤝 Middle Team: Qatar has become the quiet middleman for Washington’s first $500 million Venezuelan oil sale, holding the proceeds in Doha as the U.S. markets the crude and manages revenues.
💵 Buying Power: Saudi Arabia raised its U.S. Treasury holdings in November to $148.8 billion, lifting it to 17th among foreign holders.
🗣 Circuit Chatter
🚢 Red Sea Return: Major container shipping lines are cautiously resuming passage through the Red Sea after more than two years of avoidance, amid improving security conditions.
🌐 Staying Online: Elon Musk’s Starlink satellite network is facing a high-profile security challenge as Iran intensifies efforts to restrict access during a crackdown on political unrest.
⛽ Gas Expansion: Chevron and its partners have approved an expansion of Israel’s Leviathan gas field, increasing supplies for domestic use and regional export markets.
⚡ AI Tariff: Abu Dhabi is preparing a dedicated electricity tariff for data centres to protect households and businesses from higher energy bills.
🌍 Power Circuit
Emir of Qatar Sheikh Tamim received Canada’s Prime Minister Mark Carney on his first visit to Qatar on Sunday. Following the visit, Carney announced that Qatar would make significant investments in Canada.
Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, watched key stages of the Elite Race held as part of the Al Salam Cycling Championship organized by his private office.
Sheikh Mansour bin Zayed, UAE Vice President, and Sheikh Jassim bin Hamad Al Thani, son of Qatar’s Emir, attended the Global Champions Arabians Tour – Abu Dhabi, at the Abu Dhabi Equestrian Club.
➿ On the Circuit
Mohammed Alardhi, Executive Chairman of Bahrain-based Investcorp, told Bloombergat Davos that the outlook for IPOs is getting better in Gulf markets.
Mariam Mohamed AlMusharrekh was appointed Director General of Government Talent at the Department of Government Enablement in Abu Dhabi and Abdulaziz Mohamed Alhammadiwas appointed as Director General of Regulatory Affairs at the Department of Energy.
Rafiza Ghazali was appointed Managing Director, Consumer Banking at Fasset, the UAE-based global Islamic banking and investment platform.
Rajesh Nagpalwas appointed Vice President of Enterprise Business for Huawei UAE.
🎶 Culture Circuit
🦁 Mane Attraction: The last drawing of a lion by Rembrandt remaining in private hands will be displayed in Saudi Arabia later this month ahead of its auction in New York, where it is expected to fetch more than $15 million. “Young Lion Resting,” one of six known lion drawings by the Dutch master, will be displayed at Diriyah’s Bujairi Terrace from Jan. 24 to 25, as part of the Leiden Collection of 17th-century Dutch and Flemish art. Proceeds from the sale will benefit Panthera, a wild cat conservation organization chaired by the co-owner of the painting, philanthropist Jon Ayers. Panthera is leading the re-introduction of the critically endangered Arabian leopard to AlUla.
📷 Photo of the Day
American pop star Katy Perry performs on stage during the Joy Awards in Riyadh on Saturday. The awards, now in their sixth season, are billed as the region’s “People’s Choice Awards,” spotlighting music and movie stars, as well as sports people and other inspiring figures. (Photo by Mohammed Saad/Anadolu via Getty Images)
📅 Circuit Calendar
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. 20-22, 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. 26-30, Dubai. Gulf Food. The world’s largest food and beverage industry event. Dubai World Trade Centre & Dubai Exhibition Centre.
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 2-4, Abu Dhabi. The Abu Dhabi AI Summit. The summit aims to strengthen collaboration between MBZUAI and the U.S. NSF Athena Institute to advance research, entrepreneurship and opportunities in Edge AI. Mohamed bin Zayed University of Artificial Intelligence.
Feb. 2-5, Doha. LNG2026. The 21st International Conference & Exhibition on Liquefied Natural Gas. Qatar National Convention Center.
Feb. 3, Dubai. World Laureates Summit. The inaugural summit, held alongside the World Government Summit, will bring 200 of the world’s top scientific researchers, marking a historic integration of science and government.
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.
The Daily Circuit: Saudi interest in Greenland’s minerals + ADNOC eyes Venezuela
In today’s Daily Circuit, we’re reporting on ADNOC’s interest in Venezuelan gas, Qatari plans to buy control of two Syrian banks, the Arab Energy Fund taking a minority stake in Saudi Arabia’s Arabian Petroleum Supply Co., and plans for an $8.2 billion Mercedes Benz-branded city in Dubai. But first, Greenland’s mineral resources are attracting investors in Saudi Arabia.
Amid U.S. President Donald Trump’s declarations of interest in taking over Greenland, a Saudi investment group is in talks with New York-based Critical Metals Corp. to build a refinery for processing the massive Arctic island’s mineral resources.
Critical Metals announced on Thursday that it signed a non-binding term sheet to form a 50-50 joint venture with Saudi Arabia’s Tariq Abdel Hadi Abdullah Al-Qahtani & Brothers. The facility would be linked to the U.S. company’s planned Tanbreez mining project in Greenland.
Under the plan, about a quarter of the minerals from the Tanbreez mine would be processed in Saudi Arabia, which is looking to extract more value from its own deposits of so-called rare earths. Critical Metals said the refined materials could be used in high-tech applications and distributed through U.S. defense supply chains.
If finalized, the deal would give Critical Metals guaranteed customers and likely ease its path to full financing for the project, which is estimated to cost $290 million to start production by next year.
“We see a strong opportunity to work closely with partners in the United States to responsibly develop and deploy these materials in support of next-generation technologies,” Abdulmalik Tariq Al-Qahtani, the Saudi firm’s CEO, said in a statement.
Editor’s Note: Have thoughts or feedback? Hit reply or drop us a note at [email protected].
📰 Developing Stories
SYRIAN STAKES
Qatar’s Estithmar Holding is poised to purchase controlling stakes in two Syrian banks. The investment group plans to take over majority ownership of Shahba Bank and about 30% of Syria International Islamic Bank, Reuters reports. The move would be the first foreign banking acquisition in Syria since the fall of Bashar al-Assad and follows the recent lifting of U.S. sanctions on Syria. The year-old interim government of President Ahmed al-Sharaa has been seeking to bring foreign capital into Syria’s banking system after more than a decade of conflict.
EXPO IPO
Competition to dominate the events space in the Gulf is heating up, with two major groups exploring the potential to launch IPOs this year. Dubai World Trade Centre and U.K.-based Informa Group, which host some of the emirate’s biggest conferences and expos, have hired Rothschild & Co. as a financial adviser for a potential listing in Dubai, Bloomberg reports. The pair announced a joint venture last March to own and operate major events, including the Dubai Airshow and Gulfood. Meanwhile, the organizer of Saudi Arabia’s Future Investment Initiative, Richard Attias & Associates, is among eight companies earmarked by the Public Investment Fund for IPOs this year.
💲 Sovereign Circuit
ADNOC: Abu Dhabi’s state oil company is evaluating a potential investment in Venezuela’s natural gas industry as the beleaguered country tries to revive output and attract foreign partners, Bloomberg reports. TAQA: Abu Dhabi National Energy Company (TAQA), Emirates Water and Electricity Company, Masdar, EDF power solutions and Jinko Power Technology announced the issuance of long-term green bonds to refinance Al Dhafra Solar Photovoltaic Independent Power Plant, raising more than $870 million.
Masdar: UAE’s Masdar is partnering with Elite Agro Holding to launch the MENA region’s first agricultural photovoltaic project, combining solar panels with greenhouses. Masdar and Montenegro’s national power utility EPCG, meanwhile, agreed to explore a joint venture to develop and operate large-scale renewable energy projects.
Qatar Investment Authority: Qatar National Bank raised $650 million through a Formosa bond issue in Taiwan, with HSBC, KGI Securities and Standard Chartered acting as joint managers.
ADQ: AD Ports Group signed a $228 million land sale agreement with Danube Properties for a major residential and mixed-use project on roughly 1 million square meters within Abu Dhabi’s KEZAD Town Centre.
Arab Energy Fund: The fund has taken a minority stake in Saudi Arabia’s Arabian Petroleum Supply Co., backing the company’s regional expansion across fuel supply, logistics and related energy services.
↪↩ Closing Circuit
💰 Japanese Credit: Saudi Arabia has secured a 12-year, $1.5 billion credit line from Japan’s export credit agency Nexi to support water and energy projects under Vision 2030.
🔋 Clean Projects: The UAE Ministry of Energy and Infrastructure announced a joint venture with Baah and India’s Lohum to develop the country’s first large-scale electric vehicle battery recycling facility in the emirate of Sharjah.
🚗 Branded Build: UAE developer Binghatti and Mercedes-Benz unveiled an $8.2 billion co-branded development in Dubai’s Nad Al Sheba at a star-studded event hosted by American TV star Terry Crews.
🗣 Circuit Chatter
🏦 Open Shop: National Bank of Canada announced the opening of an office in the Dubai International Financial Centre to support Canadian clients expanding into the Middle East.
⭐ Gold Star: Abu Dhabi Customs and the Emirates Drug Establishment launched the Golden List of Pharmaceutical Companies, initially covering 31 firms, to streamline customs procedures and strengthen supply chains.
🛥️ Calm Seas: Danish Shipping company Maersk will resume sailing through the Red Sea and Suez Canal following improved stability in the area, The Wall Street Journal reports.
🌍 Power Circuit
UAE President Sheikh Mohamed bin Zayedmet withBassirou Diomaye Faye, President of Senegal, at Qasr Al Shati palace in Abu Dhabi on Thursday. Sheikh Mohamed also held a phone call with Robert Fico, Prime Minister of the Slovak Republic, on Thursday and received a written message from Sanae Takaichi, Prime Minister of Japan.
Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, honored the six winners of Great Arab Minds 2025 at the Museum of the Future in Dubai.
Sheikh Tahnoon bin Zayed, UAE National Security Advisor and Chairman of Abu Dhabi’s International Holding Co., said talks on Thursday with U.S. Undersecretary of State for Economic Affairs Jacob Helbergfocused on deepening cooperation in artificial intelligence and investment.
Sheikh Maktoum bin Mohammed, UAE Minister of Finance and Deputy Ruler of Dubai, met withNicolas Bos, Group CEO of Richemont, to discuss opportunities in the UAE. Sheikh Maktoum also met withWang Chuanfu, Chairman of the Board and CEO of Chinese electric vehicle maker BYD.
Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, held a phone call with Kaja Kallas, High Representative of the European Union for Foreign Affairs and Security Policy and Vice-President of the European Commission, on Thursday.
Saudi Arabia’s Crown Prince Mohammed bin Salmanreceived a written message on Thursday from Oman’s Sultan Haitham bin Tariq.
➿ On the Circuit
Bandar Alkhorayef, Saudi Arabia’s Minister of Industry and Mineral Resources, said reports that the Public Investment Fund intends to spin off its Manara Minerals subsidiary were inaccurate and any move would have to be announced by the PIF.
Ali Shaath, the former deputy planning minister for the Palestinian Authority who was chosen to lead a U.S.-backed committee to govern Gaza, has proposed pushing war debris into the Mediterranean Sea to speed reconstruction, Reuters reports
Nasser al Sharji was appointed CEO of Oman Airports, replacing Ahmed Al Amri, who has been appointed Chairman of the Muscat Municipality.
Mattar Al Tayer, Dubai’s Roads and Transport Authority Chairman, said Electric air taxis developed by Joby Aviation are set to begin commercial operations in Dubai by the end of this year, Reuters reports.
Aryna Sabalenka, the world’s No.1 tennis player, has been signed as Emirates airline’s first tennis ambassador as part of the airline’s commitments as the official airline of all four Grand Slams worldwide.
🎶 Culture Circuit
🎨 Under the Hammer: Pieces by Andy Warhol, Pablo Picasso, Jean-Michel Basquiat, Camille Pissarro and David Hockney are among the highlights in Sotheby’s next major art sale in Saudi Arabia. The “Origins II” auction taking place in Diriyah on Jan. 31 comes amid a growing appetite for fine art investment in the kingdom, where Sotheby’s held its first international sale last January, netting $17 million. Among this year’s works is Warhol’s 1978 painting of Muhammad Ali, originally commissioned by U.S. investment banker Richard Weisman.
📷 Photo of the Day
Jean-Claude Van Damme, the action movie star, walks the red carpet at opening night for the Nobu One Za’abeel restaurant in Dubai on Thursday. (Tristan Fewings/Getty Images for One & Only)
📅 Circuit Calendar
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. 20-22, 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. 26-30, Dubai. Gulf Food. The world’s largest food and beverage industry event. Dubai World Trade Centre & Dubai Exhibition Centre.
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.
The Daily Circuit: PIF mulls LIV Golf’s future + Altérra’s Spanish partner
In today’s Daily Circuit, we’re reporting on International Holding Co.’s deal with the U.S. government’s DFC foreign investment arm, Saudi Arabia’s spinoff of Manara Minerals from the PIF, Altérra’s climate co-investment vehicle with Spain’s BBVA, and Lucid’s Saudi manufacturing plant for its electric vehicles. But first, LIV Golf falls short of its ambitious expectations.
After pouring nearly $5 billion into its upstart LIV Golf tournament, Saudi Arabia’s Public Investment Fund is facing questions about whether its high-stakes confrontation with the PGA was worth it.
Inside the $925 billion sovereign wealth fund, senior officials are reflecting on nearly four years of sparse attendance, lower-than-expected TV ratings and sagging global influence as they make decisions on whether to keep financing LIV, Bloomberg reports.
The PIF, which is led by Aramco Chairman and golf enthusiast Yasir al-Rumayyan, rattled the PGA when it signed some of the sport’s biggest names with nine-figure contracts, including Phil Mickelson, Jon Rahm, Bryson DeChambeau, and Dustin Johnson. U.S. President Donald Trump is one of LIV’s biggest fans and hosted several of its tournaments at his golf resorts.
Since its splashy first year, competitive pressure from the Tour has intensified with moves such as a “Returning Member Program,” which lured Brooks Koepka back to the PGA fold under the threat of heavy financial penalties.
Attempts to merge the LIV with the PGA have faltered, meanwhile, leaving the Saudi backers to carry continued operational losses and come up with a formula for reviving the league or pulling the plug.
Editor’s Note: Have thoughts or feedback? Hit reply or drop us a note at [email protected].
📰 Developing Stories
U.S. COLLAB
International Holding Co., the vast Abu Dhabi conglomerate overseen by Sheikh Tahnoon bin Zayed, has inked a deal to co-invest with the U.S. government’s foreign investment arm. The agreement with the International Development Finance Corp. opens the way for collaboration across a broad swath of sectors, including energy, infrastructure, mining, port operations and data centers. It will focus on projects spanning emerging and frontier markets, with the ability to “deploy capital at scale,” IHC announced. The deal is unconventional for the DFC, which traditionally funds development projects in lower- and middle-income countries, and comes amid shifting U.S. priorities abroad under President Donald Trump.
MINING SPINOFF
Saudi Arabia’s Manara Minerals will take a more independent course as the kingdom seeks to extract more value from its vast mining resources. The company, a joint venture between the Public Investment Fund and its Ma’aden mining subsidiary, will be spun off to focus on Saudi Arabia’s underground deposits of so-called critical minerals, Reuters reports. Lithium and copper, for instance, are needed for manufacturing electric vehicles and a variety of clean-energy technologies. Separating Manara is intended to attract additional Saudi and foreign investors while shifting away from passive investing toward hands-on mining expertise.
💲 Sovereign Circuit
Altérra: The Abu Dhabi climate finance company said financial services group BBVA is committing $250 million to a $1.2 billion climate co-investment vehicle that will be domiciled in the ADGM financial hub.
G42: Cerebras, the AI chipmaker that counts UAE tech investor G42 as its main customer, has made a $10 billion deal to deliver computing power to OpenAI as it attempts to diversify its revenues ahead of an expected IPO.
Public Investment Fund: The PIF and Red Sea Aluminium Holdings agreed on initial terms to develop an aluminum complex in Yanbu.
Lucid Group: The PIF-owned maker of electric vehicles plans to start manufacturing EVs in Saudi Arabia this year, advancing the kingdom’s push to cultivate a domestic auto industry.
Qatar Investment Authority: Prague-based munitions company Defense Company Czechoslovak Group is planning to raise $873 million in an IPO on the Euronext Amsterdam, with commitments from investors including a subsidiary of the QIA.
Lunate: Lunate, an Abu Dhabi-based global investment manager, has launched its Boreas range of thematic Exchange Traded Funds (ETFs) on Deutsche Börse Xetra, a major European stock exchange.
↪↩ Closing Circuit
⚜️ Mining Partners: Saudi Arabia’s Ministry of Industry and Mineral Resources signed three international agreements with Chile, Canada and Brazil to expand partnerships in the mining sector during the Future Minerals Forum in Riyadh.
💰 Asia Loans: Kuwait-based Equate Group is seeking a $300 million dual-tranche loan from Asian lenders, led by Mizuho Bank.
🔋 Battery Builder:Canadian miner Northern Graphite and Saudi Arabia’s Al Obeikan Group will form a joint venture to build a battery anode materials plant in the kingdom.
🗣 Circuit Chatter
🛏️ Hotel Push:Marriott International and Saudi developer Al Qimmah plan to open more than 2,700 hotel rooms across the kingdom, reflecting a shift toward mid- and upper-mid-scale tourism as Saudi Arabia broadens its accommodation base beyond high-end luxury resorts.
☀️ Clean Vibes:Australian clean-energy companies are increasingly looking to manufacture in the UAE to reduce supply-chain risks and accelerate exports.
⛏️ Dig It: Pakistan plans to announce several joint mining ventures with Saudi Arabia in April, with talks underway on exploratory projects for minerals including copper, zinc, gold and chromite.
🔴 Visa Freeze: Applicants from Kuwait, Egypt, Iraq and nine other Arab countries will not be able to immigrate to the U.S. until further announcement, the state department said.
⚽ Money Ball: Alsharif Faisal bin Jamil, a Jordanian royal, is leading a consortium taking control of England’s Sheffield Wednesday soccer club with the aim of applying science and analytics to improve the team’s performance.
🌍 Power Circuit
UAE President Sheikh Mohamed bin Zayed met with Serbia’s President Aleksandar Vučić on Wednesday at the Zayed National Museum in Abu Dhabi. Sheikh Mohamed also met with Irakli Kobakhidze, Prime Minister of Georgia, on Wednesday.
Prince Khalid bin Salman, Saudi Arabia’s Defense Minister, said the kingdom will invest $506 million in development projects in Yemen.
Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, met withHakan Fidan, Turkey’s Minister of Foreign Affairs, in Abu Dhabi on Wednesday.
Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, attended panel discussions held as part of Abu Dhabi Sustainability Week 2026 on Wednesday.
➿ On the Circuit
Noura Al Kaabi, UAE Minister of State, met with Dr. Vince Henderson, Dominica’s Minister of Foreign Affairs, International Business, Trade and Energy, on Wednesday.
Suhail Al Mazrouei, UAE Minister of Energy and Infrastructure, said that the country’s installed renewable energy capacity has now exceeded 7.7 gigawatts, with more projects under development to raise the capacity to more than 23 gigawatts by 2031.
Mohamed Alabbar, CEO of Emaar Properties, said that the tender for the redesigned Dubai Creek Tower, which was originally planned to be taller than Burj Khalifa, will be issued in the next three months, years after the project was put on hold.
Randa Hamed, CEO of Egypt’s Okaz asset management and brokerage firm, told Zawya that the company is planning to launch its first equity fund that will invest in Egyptian stocks.
Travis Scott, the American rapper, will perform at the Fanatics Flag Football Classic at Riyadh’s Kingdom Arena on March 21, NFL legend Tom Brady announced in a video reel shared by Turki Alalshikh, Chairman of Saudi Arabia’s General Entertainment Authority.
🎶 Culture Circuit
🍣 Hat Trick: Lest Dubai’s growing traffic jams prevent anyone from getting their hit of black cod miso, Japanese restaurateur Nobu Matsuhisa is opening his third restaurant in the emirate this week. Nobu One Za’abeel is located in The Link – a skybridge cluster of restaurants and bars 100 meters (330 feet) above ground – and will cater mostly to business clientele. The 274-seat restaurant features skyline views, a 28-seat sushi counter and adaptable private dining areas, The National reports.
📷 Photo of the Day
Rory McIlroy of Northern Ireland plays a shot during his practice round prior to the Dubai Invitational 2026 golf tournament at Dubai Creek Resort on Wednesday. (David Cannon/Getty Images)
📅 Circuit Calendar
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. 20-22, 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. 26-30, Dubai. Gulf Food. The world’s largest food and beverage industry event. Dubai World Trade Centre & Dubai Exhibition Centre.
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.
The Daily Circuit: PIF’s $12B gaming shift + French connection for Bapco
In today’s Daily Circuit, we’re reporting on the $18.7 billion acquisition by a Mubadala Capital unit of Invesco’s Canadian fund business, TotalEnergies’ joint venture with Bahrain’s Bapco Energies, Emirati startup Mal raising $230 million for its new AI-driven bank, and the UAE’s broad exposure to Trump tariffs over its business with Iran. But first, MBS’s latest move to rule the gaming world.
Saudi Arabia’s Public Investment Fund has moved to consolidate its expansive gaming investments, shifting about $12 billion worth of shares, including its stake in Nintendo, to its Savvy Games subsidiary.
Savvy, which was created in 2021 with a cash stockpile of $38 billion, is the backbone of Crown Prince Mohammed bin Salman’s plans to dominate global gaming. The move to bring more of the PIF’s gaming investments under one roof indicates a desire to further elevate Savvy’s status in the industry.
“These transfers will move the stewardship of PIF’s games investments to Savvy, given Savvy is a leading games organization for the PIF and a core component of the National Gaming and Esports Strategy,” Amar Batkhuu, a Savvy spokesperson, told Bloomberg, noting that the transfer has been planned for a long time.
Savvy’s investments include Niantic, the developer of mobile hit “Pokémon Go”and “Monopoly Go” developer Scopely Inc., as well as several esports plays, which have had mixed success. Most recently, it has been in talks with TikTok owner ByteDance to buy its Shanghai Moonton Technology unit, one of the world’s most popular mobile developers.
The company’s success was somewhat overshadowed last year by the PIF’s own blockbuster deal to take gaming titan Electronic Arts private in a $50 billion leveraged buyout backed by private equity firm Silver Lake and Jared Kushner’s Affinity Partners.
Editor’s Note: Have thoughts or feedback? Hit reply or drop us a note at [email protected].
📰 Developing Stories
TRADE TROUBLE
The UAE and China top the list of countries most exposed to U.S. President Donald Trump’s threat to impose a 25% tariff on those doing business with Iran. Abu Dhabi is assessing how the proposed measure could disrupt supply chains and trade flows, given the UAE’s role as one of Iran’s largest commercial partners, Bloomberg reports. UAE Minister of Foreign Trade Thani Al Zeyoudi said he’s still evaluating the possible effects, while details of how the tariff would be applied remain unclear. The UAE, meanwhile, signed Comprehensive Economic Partnership Agreements with Nigeria and the Philippines in Abu Dhabi on Tuesday to cut tariffs and deepen trade and investment.
PETROLEUM PARTNERS
French energy giant TotalEnergies has formed a joint venture with Bahrain’s Bapco Energies aimed at boosting trade in petroleum products across the Middle East. The venture called BxT Trading will handle flows from Bapco’s expanded Sitra refinery and draw on TotalEnergies’ global expertise to deepen market access. The companies said they expect the partnership to strengthen Bahrain’s competitiveness and enhance TotalEnergies’ regional presence. Bapco Chairman Sheikh Nasser Al Khalifa and TotalEnergies CEO Patrick Pouyanne signed the 50-50 venture agreement at a ceremony in Abu Dhabi on Tuesday.
💲 Sovereign Circuit
Mubadala Capital: Invesco is selling its $18.7 billion Canadian investment fund business to Mubadala Capital-backed CI Global Asset Management amid ongoing consolidation in the mutual fund industry.
AD Ports: KEZAD Group, a unit of AD Ports, formed a joint venture with Sharjah-based BEEAH to provide eco-friendly waste management services across the company’s free zones and industrial districts.
Emirates Nuclear Energy Co., which is backed by ADQ, said its Barakah plants are now supplying 57% of electricity demand from UAE households.
Public Investment Fund: Saudi Arabia’s Heritage Commission, in collaboration with PIF-owned Soudah Development, announced the discovery of 20 ancient rock art sites within the southwest Soudah Peaks area.
Arab Energy Fund: The Arab Energy Fund plans to allocate more capital to regional funds as Gulf nations seek global investment to diversify their hydrocarbon-dependent economies, CEO Khalid Al-Ruwaigh told Bloomberg.
↪↩ Closing Circuit
💰 Record Fund: Abu Dhabi-based digital finance startup Mal raised $230 million in a seed round led by BlueFive Capital, as it prepares to launch an AI-driven Islamic bank.
🩺 New Beds:Saudi Arabia’s Mouwasat Medical Services Co. won approval to build a $240 million hospital in Riyadh.
📈 Private Credit: Saudi Arabia’s Jadwa Investment Co. plans to raise up to $200 million for its flagship private credit fund to capitalize on Gulf demand for alternative financing.
🛡️ Defense Pact: The UAE’s EDGE and Spain’s Indra Group signed an agreement to establish a new defense manufacturing company in Spain to develop smart weapons and munitions.
✈️ Drone Deal: European missile manufacturer MBDA signed the first export contract for its Sky Warden anti-drone system with Oman on the sidelines of the Dubai Airshow in November,Intelligence Online reports.
🗣 Circuit Chatter
🛫 African Runway: Ethiopia started construction on what it says will be Africa’s largest airport, a $12.5 billion project that aims to handle up to 110 million passengers annually.
🤝 New Market: Canada will begin negotiations next month on a comprehensive economic partnership agreement with the UAE as it seeks to diversify trade away from the United States and attract Gulf investment, particularly in liquefied natural gas, Reuters reports.
🌊 Trade Player: Medina, one of the two Muslim holy cities, is emerging as a strategic hub for maritime transport and supply chains, benefiting from its Red Sea coast location and its key role in the kingdom’s logistics network
🏠 Tower of Wellness: Sharjah developer Arada launched Inaura Downtown, a 42-story skyscraper in central Dubai that will contain apartments, fitness clubs, restaurants and a luxury hotel, all dedicated to “wellness.”
🌍 Power Circuit
UAE President Sheikh Mohamed bin Zayedmet with Daniel Chapo, President of Mozambique, who is taking part in Abu Dhabi Sustainability Week, on Tuesday. Sheikh Mohamed also met withMilojko Spajić, Prime Minister of Montenegro; Bola Ahmed Tinubu, President of Nigeria; and Ferdinand Marcos Jr., President of the Philippines.
Sheikh Mohamedconferred the Order of Zayed, the UAE’s highest civilian honour, on Edi Rama, Prime Minister of Albania, on Tuesday.
Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, met withWang Chuanfu, Chairman and CEO of Chinese electric car maker BYD, on Wednesday.
Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, held a phone call with Abbas Araghchi, Minister of Foreign Affairs of Iran, on Tuesday. Sheikh Abdullahmet withJamshid Khodjaev, Deputy Prime Minister of Uzbekistan, on the sidelines of Abu Dhabi Sustainability Week. He also met with Ronald Lamola, Minister of International Relations and Cooperation of South Africa.
Sheikh Zayed bin Hamdan, Chairman of International Holding Co.’s 2PointZero investment firm, met withJamshid Khodjayev, Deputy Prime Minister of Uzbekistan, on Tuesday.
➿ On the Circuit
Bandar Alkhorayef, Saudi Arabia’s Minister of Industry and Mineral Resources, said the world is preparing for “a new era of global development, prosperity and stability through minerals,” speaking on Tuesday to the annual Future Minerals Forum in Riyadh.
Saeed Al Hajeri, UAE Minister of State, met with Maria Theresa Lazaro, Secretary of Foreign Affairs of the Philippines, during her visit to the UAE to participate in Abu Dhabi Sustainability Week.
Rolf Schilde was appointed Senior Executive Officer at Indosuez Wealth Management Dubai International Financial Centre Branch, while Charles Tort was named Deputy CEO.
🎶 Culture Circuit
👣 Feet First: A drawing of a foot by Michelangelo is on display in Dubai, the first time a work by the Italian Renaissance artist has gone on show in the UAE. The previously unknown sketch is of the right foot of the Libyan Sibyl, a figure who appears on the far east end of the frescoes on the Sistine Chapel ceiling in the Vatican. It is one of only 50 known studies related to the chapel. Christie’s will auction the work in New York next month with an estimate of $1.5 million to $2 million.
📷 Photo of the Day
UAE President Sheikh Mohamed bin Zayed met with Sheikh Mohammed bin Rashid, Vice President, Prime Minister and Ruler of Dubai, at Qasr Al Bahr palace in Abu Dhabi on Tuesday and presented him with an inscribed photo album. (Emirates News Agency)
📅 Circuit Calendar
Jan. 11-15, Abu Dhabi. Abu Dhabi Sustainability Week. UAE leaders host corporate executives, policymakers and environmental groups to debate the future of renewable energy and climate change. ADNEC.
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. 20-22, 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. 26-30, Dubai. Gulf Food. The world’s largest food and beverage industry event. Dubai World Trade Centre & Dubai Exhibition Centre.
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.