DRONE DELIVERY

An Abu Dhabi company is planning to test cross-border cargo flights using unmanned aircraft. LODD Autonomous, which counts Abu Dhabi-based BlueFive Capital among its shareholders, will operate a flight from the UAE to an unnamed neighboring country next year using its “Hili” hybrid-electric vertical take-off and landing aircraft. CEO Rashid Matar Al Manai said test flights were underway in Al Ain, an inland city in the emirate of Abu Dhabi, and the company was preparing to submit its final certification application to authorities. The UAE has been leading a regional push for autonomous aircraft, including flying taxis. LODD Autonomous has already received more than 330 orders for the Hili aircraft, with overseas orders accounting for more than 70% of the total, Al Manai said.

LIQUID ASSETS

Saudi Arabia’s Abunayyan and Al Muhaidib families have built a fortune of more than $9 billion through ACWA Power, one of the Gulf’s biggest desalination companies. The families own at least 26.3% of the $34.9 billion company, while Saudi Arabia’s Public Investment Fund holds 44.2%, Bloomberg reports. ACWA began with a water and electricity plant supplying Mecca and has expanded into water, power and renewable energy projects across the Middle East and beyond. Attacks on regional facilities during the war have highlighted the Gulf’s dependence on desalination, though ACWA’s spread of plants is expected to offer some protection against disruption.

Mubadala: The Abu Dhabi sovereign wealth fund Mubadala plans to maintain annual investments of $39 billion, roughly 10% of its portfolio, with a focus on Asia, CFO Carlos Obeid said.

Mubadala Capital: The acquisition of Clear Channel Outdoor by the alternative asset management subsidiary of Abu Dhabi’s Mubadala sovereign wealth fund secured final U.S. regulatory clearance, putting the billboard operator’s takeover on track to close around Oct. 14.

G42: Presight, a G42-owned AI firm, said it’s expanding across the Commonwealth of Independent States (CIS) and the Caucasus region.

Qatar Airways: South African carrier Airlink, which is backed by Qatar Airways, expects a substantial revenue boost as new Embraer jets support a 10% network expansion, adding two countries to its 67 destinations across Africa and beyond.

Skydance: David Ellison and his family invested approximately $17 billion to complete Paramount Skydance’s Gulf-backed acquisition of Warner Bros. Discovery, acquiring an estimated 1.4 billion shares at $12 each, Bloomberg reports. Saudi Arabia’s Public Investment Fund, the Qatar Investment Authority and Abu Dhabi’s L’Imad all backed the deal.

Aramco: The Saudi oil giant is negotiating long-term oil contracts that would allow shipments outside the Strait of Hormuz starting next year as it seeks to expand its market share amid disruptions caused by the war with Iran.

💰 Down Under: Sharjah-based Arada has secured approval for its $152 million London Place development in Sydney, the first of five planned projects in the area, with construction set to begin in 2027.

🏠 Trump Card: Dar Global has launched sales of Trump-branded villas in Qatar’s Simaisma development, priced from $1.4 million, with completion expected by the end of 2030.

⛽ Gas Recovery: QatarEnergy’s first new North Field East gas-processing unit will be ready to begin startup in November, with LNG production expected in early 2027 to help replace output lost to Iranian attacks, Reuters reports.

✈️ Safety Probe: Saudi Arabia has launched an aviation safety investigation into last week’s cockpit attack aboard a Tel Aviv-bound flydubai jet while it was in Sauid airspace, alongside the UAE’s criminal inquiry, Reuters reports.

​​💺 Damascus Moment: Etihad Airways will increase Abu Dhabi-Damascus flights from four to seven a week starting Nov. 14, citing strong demand, amid growing business ties and Syrians returning to reunite with family following years of war.

🏅 Olympic Bid: Qatar is an “interested party” in bids to host the 2036 Olympic Games and hopes its World Cup stadiums and infrastructure will give it the edge over rivals Germany, Hungary, India, South Korea, South Africa, and Turkey.

UAE President Sheikh Mohamed bin Zayed held a phone call with Syria’s President Ahmed al-Sharaa today. Meanwhile, Sheikh Mohamed called for a prayer for rain, known in Arabic as Salaat Al Istisqaa, to be performed at all mosques across the UAE on Friday.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Deputy Prime Minister and Minister of Defense, launched the Create AI Agents Championship on Wednesday.

Sheikh Dr. Sultan bin Mohammed, Ruler of Sharjah, attended the opening of the 12th edition of the Sharjah Calligraphy Biennale on Wednesday evening.

Egyptian President Abdel Fattah El-Sisi met with Lee Jae Myung, President of Korea, at the Korean Presidential Office in Seoul on Thursday. 

➿ On the Circuit

John Rahm plans to leave LIV Golf after rejecting its proposed restructuring terms following the league’s bankruptcy, triggered by the withdrawal of backing from Saudi Arabia’s Public Investment Fund. Rahm’s lawyer said the golfer is negotiating a separation agreement while reportedly owed more than $100 million in guarantees.

Ari Emanuel, co-founder of Endeavor and CEO of TKO, told podcast host David Senra how he raised money several years ago to launch a separate company, The Raine Group. “I fly to Abu Dhabi. I get $100 million out of my friends in the UAE,” he said.

Badr Jafar, UAE Special Envoy for Business and Philanthropy, met with geostrategist and author Dr. Parag Khanna in Singapore, a month after the two co-wrote “City-states of the world, unite!” in The National, arguing that global cities work best as a network.

Tom Baker, Vitol’s Bahrain Managing Director, said during an industry event that the Iran war is creating huge arbitrage opportunities in global energy markets as disrupted trade flows stretch tanker fleets and lengthen oil shipping routes.

Abdulla bin Touq Al Marri, UAE Minister of Economy and Tourism and Co-Chair of Investopia, told a Next50 roundtable at Investopia Bridge 2026 in Abu Dhabi on Wednesday that the country is strengthening its position as a global hub for the new economy.

Ilya Korobov was appointed Director of Debt Capital Markets in Central and Eastern Europe, the Middle East and Africa for Deutsche Bank, as the bank expands its Dubai investment banking team.

🚴 Gearing Up: Sheikh Zayed Road, Dubai’s roaring 14-late arterial motorway, falls silent once a year as it is taken over by thousands of cyclists. This year is no different — organizers are expecting the Dubai Ride, scheduled for the early hours of Nov. 1, to beat last year’s record 40,327 attendees. The event is open to cyclists of all ages and fitness levels, with a 4 kilometer route for families and a 12km route for more experienced cyclists. Registration is now open.

📷 Photo of the Day

Oct. 7-9, Singapore. Milken Institute Asia Summit. Bringing together a global community of influential leaders shaping the next era of intelligence, collaboration and growth. Four Seasons Hotel.

Oct. 12-14, Dubai. The Airport Show. Exploring innovations in sustainability, digitalization, security and passenger experience, alongside several major industry forums. Dubai World Trade Centre. 

Oct. 13-15, Dubai. SuperReturn Middle East. Exploring fundraising, private credit, family offices, infrastructure, AI, venture capital and shifting investment opportunities across the region. Ritz-Carlton, DIFC.

Oct. 21, Abu Dhabi. Reuters NEXT Gulf. Exploring the Gulf’s growing global influence across AI, finance, energy, trade and geopolitics. St. Regis Saadiyat Island Resort.

Oct. 21, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 22-26, Dubai. Dubai Fashion Week. Dubai’s official fashion platform, bringing together regional and international designers, buyers and industry leaders for runway shows, collection launches and events. Dubai Design District.

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

THAT’S A WRAP

Paramount Skydance has closed its Gulf-backed $110 billion acquisition of Warner Bros. Discovery, having fended off rivals and a series of antitrust lawsuits in the 10 months since it launched its first hostile bid. Saudi Arabia’s Public Investment Fund, the Qatar Investment Authority and Abu Dhabi’s L’Imad Holding are all backing the blockbuster deal. Gerry Cardinale’s RedBird Capital Partners also contributed $4 billion in new equity financing, taking his total commitment to $6 billion. Cardinale was a key architect in the deal and has strong ties to the Gulf, where RedBird is part of a media joint venture backed by Abu Dhabi royalty. Skydance, as the combined company is being called, will be led by Chairman and CEO David Ellison, with Ynon Kreiz as co-CEO. The firm announced its board on Tuesday, adding Laurene Powell Jobs, founder and President of Emerson Collective, and former Activision Blizzard CEO Bobby Kotick as board members. Former British Prime Minister Tony Blair joins as an adviser. 

SHARED BURDEN

Saudi Aramco and Kuwait Petroleum are telling oil-consuming countries to help pay for the infrastructure needed to keep supplies flowing after the Iran war. Aramco CEO Amin Nasser and Kuwait Petroleum CEO Sheikh Nawaf Al-Sabah called for investment in alternative export routes and overseas fuel storage at Monday’s Energy Intelligence Forum in London, Bloomberg reports. Damage to pipelines, refineries, gas plants and tankers has already pushed investment needs into the tens of billions of dollars. Kuwait is discussing storage investments with European partners, while Nasser said “no country should face this alone.”

Public Investment Fund: The Saudi Real Estate Refinance Company, a subsidiary of the PIF, has acquired a new residential mortgage portfolio from Banque Saudi Fransi.

Saudia Group: The PIF-owned airline group is planning a “substantial” jet order for delivery from 2031 to expand its fleet and replace aging aircraft, Bloomberg reports.

Mubadala: The Abu Dhabi sovereign wealth fund led its Gulf peers with $26.2 billion invested in the first nine months of 2026, ahead of Saudi Arabia’s PIF at $14 billion, as technology attracted the largest share of regional funds’ investments, Global SWF reports.

International Holding Co.: International Resources Holdings, a unit of Abu Dhabi’s IHC, made a preliminary cash takeover proposal for Irish titanium miner Kenmare Resources, sending its shares up as much as 41%. Titanium is a key material for the defense, aerospace and advanced manufacturing sectors.

QatarEnergy: The state-owned oil and gas giant secured a $3 billion loan from Chinese banks for working capital amid continuing disruptions to LNG shipments caused by the Middle East conflict.

📚 School Closing: UAE-based school operator AlephYa is in advanced talks to buy Saudi Arabia’s Ajialuna Educational Co. in a deal worth as much as $500 million, Bloomberg reports. 

💰 Cairo Cash: Egyptian fintech MNT-Halan plans to raise $149 million by selling about 20% of its Egyptian business, MNT Tech Holding, in the country’s largest IPO since 2021, Arab News reports.

👷 Aussie Arrival: Arada will bring Australian construction company Roberts Co., which it acquired in 2025, to the UAE, in a bid to embed construction expertise at the design and development stage, increase efficiency and reduce costs.

🏎️ Final Laps: Formula 1 confirmed its Qatar and Abu Dhabi races will go ahead on Nov. 29 and Dec. 6 despite regional tensions, with 99% of tickets already sold for the season finale, the Abu Dhabi Grand Prix at the Yas Marina Circuit.

💼 New Arrivals: Asset managers Capital Group and New Mountain Capital are the latest U.S. firms to open offices in Abu Dhabi’s ADGM free zone.

🛠️ Regional Disruption: The Trump administration is resisting deeper involvement in Saudi Arabia’s offensive against the Houthis, despite providing intelligence, targeting and refueling support, Bloomberg reports. 

🐪 Drome Dairy: The UAE is on a quest to turn camel milk into a new superfood, with Al Ain Farms Group taking its brand Camelait to the global market, The National reports.

UAE Sheikh Mohamed bin Zayed held a phone call with Jordan’s King Abdullah II bin Al Hussein on Tuesday to discuss bilateral relations and opportunities to further strengthen ties across various fields.

Saudi Crown Prince Mohammed bin Salman met Syrian ​President ⁠Ahmed al-Sharaa ​in Riyadh ⁠on ​Tuesday. The Crown Prince also donated blood to launch the kingdom’s annual national donation campaign.

Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and Chairman of the Artificial Intelligence and Advanced Technology Council, chaired a meeting of the body on Tuesday, with Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, Chairman of the Abu Dhabi Executive Council and Vice-Chairman of the Council, attending.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, said food security is “a cornerstone of development and prosperity,” on the opening day of Global Food Security Summit in Abu Dhabi on Tuesday.

Souraya Noujaim was appointed Director of Louvre Abu Dhabi, returning to the museum where she previously oversaw curatorial and collections work. Noujaim takes over from Manuel Rabate, whose departure was announced in February.

Scott O’Neil, CEO of LIV Golf, has called the league’s new private equity backer a “white knight” following its bankruptcy and loss of backing from Saudi Arabia’s Public Investment Fund, Front Office Sports reports.

Ruba Al Hassan, Director General for Strategic Affairs and Future Foresight at the Abu Dhabi Department of Government Enablement, told The National that Abu Dhabi would launch the latest version of its government services app Tamm, which has more than 4 million users, at the Gitex Global technology exhibition in Dubai in December.

⭐ Star Power: Dubai’s newest Michelin stars have been announced, with the gastronomy bible taking the unusual step of allowing several restaurants to retain their stars despite being temporarily closed because of the Iran conflict, The National reports. The Michelin Guide Dubai 2026 was revealed at a ceremony at Atlantis The Royal on Tuesday night, after the original awards were postponed in June. The big winner on the night was Orfali Bros, which was promoted from one to two stars. The restaurant, run by Syrian brothers Mohammad, Wassim and Omar Orfali, has gone “from a brilliant neighborhood bistro into a flagship of Middle Eastern gastronomy,” Michelin said. Birch and Kigo entered the guide with one star each.

📷 Photo of the Day

Oct. 6-7, Abu Dhabi. Global Food Security Summit. Addressing the challenges shaping global food systems. ADNEC Centre

Oct. 7-9, Singapore. Milken Institute Asia Summit. Bringing together a global community of influential leaders shaping the next era of intelligence, collaboration and growth. Four Seasons Hotel.

Oct. 12-14, Dubai. The Airport Show. Exploring innovations in sustainability, digitalization, security and passenger experience, alongside several major industry forums. Dubai World Trade Centre. 

Oct. 13-15, Dubai. SuperReturn Middle East. Exploring fundraising, private credit, family offices, infrastructure, AI, venture capital and shifting investment opportunities across the region. Ritz-Carlton, DIFC.

Oct. 21, Abu Dhabi. Reuters NEXT Gulf. Exploring the Gulf’s growing global influence across AI, finance, energy, trade and geopolitics. St. Regis Saadiyat Island Resort.

Oct. 21, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 22-26, Dubai. Dubai Fashion Week. Dubai’s official fashion platform, bringing together regional and international designers, buyers and industry leaders for runway shows, collection launches and events. Dubai Design District.

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

MINING EXPRESS

Jordan and the UAE broke ground on a $2.3 billion railway project designed to speed up mineral exports, in a ceremony on Monday attended by King Abdullah II and Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed. The 403-kilometer (250-mile) network, which will take five years to build, will connect the Red Sea port of Aqaba with phosphate mines at Al Shidiya, potash production at Ghor Al Safi and a logistics hub in Maan, replacing truck journeys and Jordan’s aging railway, The National reports. The investment also advances Jordan’s rail infrastructure as the UAE pursues the proposed India-Middle East-Europe Economic Corridor, which would move goods by ship from India to the Gulf, then by rail through Saudi Arabia and Jordan to Israel’s Haifa port for shipment to Europe. Reaching Haifa would require additional cross-border tracks through northern Jordan beyond the mining network now under construction.

OUT OF THE BUNKER

LIV Golf has found a $300 million lifeline from the credit arm of BC Partners to help the bankrupt golf league recover from the loss of backing from Saudi Arabia’s Public Investment Fund. The initial commitment announced by the British alternative-investment firm is “the first part of a targeted $300 million in cumulative financing to help LIV Golf emerge from its restructuring.” It is hoped that the investment will help fund a new era for the golf tour, which BC Partners is calling “LIV Golf 2.0,” in which players would become equity owners in the league and its teams, Bloomberg reports. LIV Golf filed for Chapter 11 protection last month, revealing millions of dollars in debts to some of its biggest stars, after burning through some $5 billion in four years.

L’Imad Holding: Supercar maker McLaren Automotive, which is owned by the Abu Dhabi sovereign fund, has announced its return to Saudi Arabia in partnership with Mohamed Yousuf Naghi Motors, with the entity to be named McLaren Riyadh.

Public Investment Fund: Diriyah, the PIF-backed development in a historic district of Riyadh, awarded $728 million in hotel and residential construction contracts to MAN and MAG JV and Urbacon Saudi.

Lucid Group: The PIF-backed U.S. electric car maker’s third-quarter production fell 24% year-on-year to 2,954 EVs as it cuts costs, reduces output and focuses on selling existing inventory.

Paramount Skydance: The Hollywood studio, backed by the PIF, Abu Dhabi’s L’Imad Holding and Qatar Investment Authority, unveiled the wider leadership team for its merger with Warner Bros. Discovery, to be named Skydance and led by Chairman and CEO David Ellison, with Ynon Kreiz as co-CEO.

ADNOC: The UAE’s national energy company agreed to supply about 2 million metric tons of liquefied natural gas to Thailand’s Gulf Development under a multiyear deal starting in 2027.

G42: Abu Dhabi AI group Presight aims to generate 50% of its revenue from international markets by 2030, up from about a third today, as it expands across Central Asia, the Balkans and Africa.

ADQ: AD Ports Group completed its $835 million acquisition of Brazilian agri-bulk terminal operator CLI, its largest acquisition to date and first strategic entry into South America.

🇸🇦 Saudi Lifeline: U.S. retailer The Children’s Place has tapped its $40 million finance facility with Saudi family office Mithaq Capital, its largest shareholder, as it works with Berkeley Research Group for operational assistance amid declining sales, Bloomberg reports.

✈️ Flight Delay: Wizz Air has postponed its return to several European routes from Abu Dhabi until Jan. 10, following security updates from Europe’s aviation regulator, The National reports.

🦅 Rebuilding Syria: Abu Dhabi-based Eagle Hills signed an agreement with Syria to develop residential and tourism projects in Damascus and Latakia.

📅 Events Reshuffle: Informa, the events company behind the Dubai Airshow, agreed to acquire Clarion from Blackstone for $3 billion.

🔐 Data Security: Dell Technologies, the UAE Cyber Security Council and CPX announced a strategic collaboration to develop a National Vault to protect mission-critical data and strengthen the UAE’s cyber resilience across key sectors.

📈 IPO Warning: Bankers are pushing back against Saudi Arabia’s proposed IPO rules requiring underwriters to buy unsold shares, saying the measures could further dampen the listings market.

☎️ Telco Debrand: Abu Dhabi-based telecoms group e& will return to its original name, Etisalat, four years after it changed the company’s name, as it looks to boost growth in the artificial intelligence era.

👩 Succession Shift: A generational handover at Gulf family businesses could open more leadership roles for women, who hold just 7% of board seats at listed companies across the region, The National reports.

📉 Growth Slump: The World Bank cut its 2026 Middle East growth forecast to a 2.1% contraction as the Iran war continues to constrain energy supplies.

🛢️ Oil Retreat: Oil steadied after a 2% drop on Monday, as rising Gulf exports and Saudi Arabia’s price cut pointed to a looser market, with Brent trading near $101 a barrel.

Saudi Crown Prince Mohammed bin Salman met with U.S. Senator Chris Murphy, a Connecticut Democrat, and his accompanying delegation in Riyadh on Monday. Murphy met with Emir of Qatar Sheikh Tamim bin Hamad Al-Thani in Doha on Sunday.

Sheikh Theyab bin Mohamed, Deputy Chairman of the UAE’s Presidential Court for Development and Fallen Heroes’ Affairs, visited ADNOC’s headquarters in Abu Dhabi on Monday.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Minister of Defense, gave directives to extend Dubai’s Golden Visa initiative to outstanding educators to mark World Teachers’ Day.

Massad Boulos, U.S. President Donald Trump’s Senior Adviser for Arab and African affairs, met Sudanese army chief and de facto leader Gen. Abdel Fattah Al Burhan in Egypt at a lunch hosted by Egyptian President Abdel Fattah El Sisi in New Alamein over the weekend.

Ray Dalio, founder of Bridgewater Associates, warned that U.S. Treasuries are vulnerable to weakening demand from China and Japan.

Suleiman Abu Khader was appointed Chief Wholesale Banking Officer at Jordan Ahli Bank.

Aziz Aluthman Fakhroo, Ooredoo Group CEO, has been elected to the board of the Global System for Mobile Communications Association.

Vasilis Hadjiaslanis was appointed General Manager for the Middle East at Deliveroo.

✏️ Drawing Inspiration: Guggenheim Abu Dhabi’s opening program will feature an exhibition exploring architect Frank Gehry’s design for the new museum, which opens in the Saadiyat Cultural District on Dec. 11. Archival materials and early models and sketches trace the late architect’s vision for a building that responds to the Abu Dhabi landscape, culture and ambition for the arts, The National reports. “Guggenheim Abu Dhabi is an expression of Frank Gehry’s love for Abu Dhabi and his deep respect for its vision, courage and patience,” Meaghan Lloyd, a partner at Gehry Partners, said.

📷 Photo of the Day

Oct. 6-7, Abu Dhabi. Ai Everything. The AI forum brings together policymakers, innovators and business leaders. ADNEC Centre.

Oct. 7-9, Singapore. Milken Institute Asia Summit. Bringing together a global community of influential leaders shaping the next era of intelligence, collaboration and growth. Four Seasons Hotel.

Oct. 12-14, Dubai. The Airport Show. Exploring innovations in sustainability, digitalization, security and passenger experience, alongside several major industry forums. Dubai World Trade Centre. 

Oct. 13-15, Dubai. SuperReturn Middle East. Exploring fundraising, private credit, family offices, infrastructure, AI, venture capital and shifting investment opportunities across the region. Ritz-Carlton, DIFC.

Oct. 21, Abu Dhabi. Reuters NEXT Gulf. Exploring the Gulf’s growing global influence across AI, finance, energy, trade and geopolitics. St. Regis Saadiyat Island Resort.

Oct. 21, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 22-26, Dubai. Dubai Fashion Week. Dubai’s official fashion platform, bringing together regional and international designers, buyers and industry leaders for runway shows, collection launches and events. Dubai Design District.

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

UNDER PRESSURE

Global oil stockpiles have become “scarily thin” and releasing some of the crude might buy time but won’t fix imbalances between supply and demand, according to Saudi Aramco’s CEO. Amin Nasser, who leads the world’s top oil exporter, told the Energy Intelligence Forum in London on Monday that until the Strait of Hormuz reopens and confidence returns, “the crude reality is that pressure at both ends of the barrel will intensify.” The comments come as governments in some of the world’s biggest economies announce plans to release as much as 100 million barrels of oil and diesel stocks to counter rising fuel costs. While Nasser did not talk about recent attacks on Saudi Arabia, he said Aramco had been quick to repair damaged infrastructure throughout the regional conflict.

SMARTER GOVERNANCE

Abu Dhabi will host thousands of visitors at the two-day Ai Everything summit starting Tuesday as it seeks to become an “AI-native government” by 2027, building artificial intelligence into how agencies operate and deliver public services. Mistral AI CEO Arthur Mensch and Boston Dynamics founder Marc Raibert are among 180 speakers scheduled to appear at the ADNEC Centre, The National reports. Backed by a $3.5 billion investment program, the emirate plans to connect more than 40 government entities through a single AI-driven system. “We have built the blueprint, and Ai Everything Abu Dhabi is our invitation to the world to examine it,” said Wesam Lootah, Director General of Abu Dhabi’s GovDigital agency.

Public Investment Fund: UAE-based NEOPAY will acquire a 65% stake in Noon Payments, backed by the PIF, expanding its payments infrastructure and presence in Saudi Arabia and Egypt.

Acwa: The PIF-backed alternative energy producer and Saudi Energy secured $2.6 billion from 14 banks to finance the 2.3GW expansion of the Rabigh 2 gas-fired power plant near Mecca .

Aramco: Yemen’s Houthis said they targeted an Aramco facility in Riyadh with ballistic missiles and drones on Saturday in retaliation for Saudi attacks on the capital city of Sanaa and other Yemeni sites, Reuters reports. 

💰 Raising Funds: Saudi alternative financing platform Erad raised $22 million in a Series A funding round led by Middle East Venture Partners, backing the firm’s expansion across the GCC, Arab News reports.

🦅 Bird Buy: Two Mongolian saker falcons fetched a combined $147,000 at the opening auction of the International Saudi Falcons and Hunting Exhibition, reflecting strong demand for the prized birds.

💄 Beauty Deal: UAE-based consumer company Amaani raised $5 million in a Series A funding round, led by BECO Capital, to expand its beauty brand AIZA.

🔗 Settling Debts: Qatar has agreed with Euroclear Bank to establish a settlement link for rial-denominated government and Islamic bonds, making it easier for foreign investors to access its domestic debt market, Bloomberg reports. 

💸 Homeward Bound: Gulf workers sent $161 billion overseas in 2025, up 13.6% from the previous year, according to GCC-Stat.

🗼Tall Tower: Jeddah Tower and the first phase of the surrounding Jeddah Economic City are expected to be completed in late 2028, with the skyscraper reaching 116 of its planned 157 floors last month.

🤝 Working Banks: The UAE and Syrian central banks signed an agreement to strengthen financial and technical cooperation, banking ties and regulatory expertise.

⚡ Local Electricity: Qatar is expanding its EV charging network and digital services, including Kahramaa’s Smart EV app, to encourage electric vehicle adoption and reduce carbon emissions.

🔬 Scientific Milestone: Researchers at King Abdullah University of Science and Technology, working with the University of Oxford, developed a blood-based electronic sensor that detects Parkinson’s-linked proteins and achieved 90.9% accuracy in an initial 59-person study.

UAE President Sheikh Mohamed bin Zayed held a phone call with Giorgia Meloni, Italy’s Prime Minister, on Sunday. On Friday, Sheikh Mohamed met with U.S. Senator Joni Ernst, an Iowa Republican, in Abu Dhabi.

King Salman of Saudi Arabia invited Qatar’s Emir Sheikh Tamim bin Hamad to be part of the the second GCC-EU Summit, which will be hosted Oct. 24 in the kingdom. The Emir met on Sunday with U.S. Senator Chris Murphy, a Connecticut Democrat.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, issued a resolution appointing Dr. Mohamed Abdalla Al Zaabi as Undersecretary of the Department of Culture and Tourism – Abu Dhabi.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Minister of Defense, attended the unveiling of the UAE-built probe for the Emirates Mission to the Asteroid Belt, which will travel aboard the MBR Explorer spacecraft on a 5 billion-kilometer (3.1 billion-mile) journey to explore seven asteroids.

Sheikh Ahmed bin Mohammed, Second Deputy Ruler of Dubai, attended a reception hosted by the Consulate General of Saudi Arabia in Dubai on Sunday to mark the kingdom’s 96th National Day.

Oman’s Sultan Haitham bin Tarik will begin a two-day state visit to Kazakhstan on Monday at the invitation of President Kassym-Jomart Tokayev to strengthen bilateral ties.

Egypt’s President Abdel Fattah El-Sisi opened the Alamein Africa Business Forum on Saturday.

Mohammed Alnahas was appointed Chairman of Neuberger Berman Saudi Investment Co., having previously served as Governor of Saudi Arabia’s Public Pension Agency. Mohammad Alaiban, founder and Executive Chairman of Masdar Investments, was named Vice Chairman of the new firm, a unit of New York-based Neuberger that manages some $567 billion in assets.

Omran Sharaf, UAE Assistant Foreign Minister for Advanced Science and Technology, led a UAE delegation to Washington, D.C., for a series of meetings with senior U.S. government officials, including Michael Kratsios, Assistant to the President and Director of the White House Office of Science and Technology Policy, and Jacob Helberg, Under Secretary of State for Economic Affairs.

Andrew Mark Hocking was appointed CEO of CrediMax, a payment solutions provider in Bahrain.

Hormoz Faryar was appointed Managing Director at Dubai-based Sky Links Capital Group.

🏀 Dubai Dynasty: Shadow Lion, the production company founded by retired NFL star quarterback Tom Brady, is making Yalla, Dubai: From Startup to Championship, a documentary about Dubai Basketball’s rapid rise. Founded in 2023 by chairman Abdulla Saeed Juma Al Naboodah and general manager Dejan Kamenjašević, the team won the Adriatic basketball league title in its second full season, beating Serbia’s Partizan 3-1 in this past June’s finals.

📷 Photo of the Day

Oct. 6-7, Abu Dhabi. Ai Everything. The AI forum brings together policymakers, innovators and business leaders. ADNEC Centre.

Oct. 7-9, Singapore. Milken Institute Asia Summit. Bringing together a global community of influential leaders shaping the next era of intelligence, collaboration and growth. Four Seasons Hotel.

Oct. 12-14, Dubai. The Airport Show. Exploring innovations in sustainability, digitalization, security and passenger experience, alongside several major industry forums. Dubai World Trade Centre. 

Oct. 13-15, Dubai. SuperReturn Middle East. Exploring fundraising, private credit, family offices, infrastructure, AI, venture capital and shifting investment opportunities across the region. Ritz-Carlton, DIFC.

Oct. 21, Abu Dhabi. Reuters NEXT Gulf. Exploring the Gulf’s growing global influence across AI, finance, energy, trade and geopolitics. St. Regis Saadiyat Island Resort.

Oct. 21, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 22-26, Dubai. Dubai Fashion Week. Dubai’s official fashion platform, bringing together regional and international designers, buyers and industry leaders for runway shows, collection launches and events. Dubai Design District.

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

TURBULENT RECOVERY

Flydubai’s suspension of flights to Israel while investigating this week’s midair attack adds uncertainty to the recovery of Gulf airlines from the Iran war. Regional flight volumes have returned to around prewar levels after collapsing to near zero following the Feb. 28 U.S.-Israeli strikes on Iran, Reuters reports. The number of flights dipped again in recent weeks amid pessimism over the prospects of a peace deal, while soaring jet fuel prices have put further pressure on carriers. Analysts say an official finding that the flydubai attack was an act of terrorism could particularly affect travel to Israel, where the UAE airline is the main Gulf carrier and ranks among Ben Gurion International Airport’s top 10 airlines by passenger traffic.

SILENT STORM 

Soundstorm, the Saudi music festival that drew about 450,000 fans to the desert north of Riyadh last year, has canceled its 2026 edition. Organizer MDLBEAST gave no reason for scrapping the Dec. 3-4 event, saying only that it plans to return “better and stronger” in 2027. Since launching in 2019, the festival has brought global stars including Bruno Mars, Post Malone, Cardi B and DJ Khaled to the kingdom. The cancellation comes after the Red Sea International Film Festival’s decision to scrap its December event in Jeddah and postpone its return until late 2027.

Public Investment Fund: Humain, the artificial intelligence company backed by the Saudi sovereign wealth fund, and EY MENA are developing an AI-powered business outsourcing service that will combine Humain’s technology with EY’s industry expertise.

Investcorp: Bahrain’s Mubadala-backed Investcorp has closed its second North American private equity fund at $1.2 billion, exceeding its $1.1 billion target with backing from institutional investors across North America, Europe, the Middle East and Asia.

Mubadala: The Abu Dhabi sovereign wealth fund signed on as an official sponsor of the Rolex Shanghai Masters tennis tournament, marking its first sports sponsorship in East Asia.

Oman Investment Authority: The OIA has invested in Spanish rocket maker PLD Space through the Omani-Spanish Private Equity Fund II, deepening its space-sector exposure as the company prepares to launch its Miura 5 rocket.

🚢 Engine Boost: Rolls-Royce signed a deal with Saudi industrial company Makeen to manufacture and assemble marine engines in the kingdom for ferries, patrol boats and other vessels, supporting Saudi Arabia’s push to expand domestic manufacturing.

🚧 Expansion Plans: Sobha Realty said in a press release that it has started its planned expansion into the U.S. and Australia, securing land for residential projects in North Dallas, Brisbane and the Gold Coast.

🚗 Gold Plated: Dubai is developing an escrow-backed online marketplace for vanity license plates amid a boom in trading, with transactions having reached $463 million over the past three years, The National reports.

⛽ Energy Delay: Yukio Kani, CEO of Japan’s Jera Co., which is the world’s largest buyer of liquefied natural gas, expects Strait of Hormuz disruptions to persist, delaying Qatar LNG’s return to the market and fueling concerns over winter supply, Bloomberg reports. 

🇸🇦 Saudi Stamp: Saudi Arabia will require infrastructure contractors to be accredited by the Riyadh Infrastructure Projects Center from Jan. 1, 2027, as part of efforts to improve quality, safety and sustainability.

💣 Medina Strike: A Houthi drone attack targeted a power distribution station serving the Prophet’s Mosque in the holy city of Medina, causing limited damage.

Saudi Crown Prince Mohammed bin Salman said in his annual address to the Shura Council on Wednesday that the kingdom is “making every possible effort to reduce escalation and support diplomatic solutions, without the slightest compromise when it comes to safeguarding our security.” 

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, appointed Sheikh Ahmed bin Mohammed, Second Deputy Ruler of Dubai, as Chairman of Al Wasl Sports Club.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, met with Dr. Bassam Samir Al-Talhouni, Jordan’s Minister of Justice, in Abu Dhabi on Thursday.

Khaldoon Al Mubarak, the CEO of Mubadala and Chairman of Manchester City FC, “faces his toughest test” in fighting the charges facing the English Premier League football club, the Financial Times says.

Dennis McGettigan, CEO of Dubai-based Vision Hospitality, which runs the McGettigan’s Irish pub brand, told Arabian Gulf Business Insight the hospitality group is pressing ahead with three new UAE venues despite trading falling by as much as 25% in September, as the regional conflict continues to weigh on the sector.

Noura bint Mohamed Al Kaabi, UAE Minister of State, met with Bendito dos Santos Freitas, Minister of Foreign Affairs and Cooperation of Timor-Leste.

🤿 Deep Dive: Syria is considering building an underwater museum that would repurpose old military equipment into a marine habitat as it explores ways to boost sustainable tourism. The concept, presented by media professional and entrepreneur David Shawakh at this week’s Syria Travel Show 2026, would be built off the coast of Latakia and feature Syrian art, architectural elements and specially decommissioned equipment from the war. Over time the structures would provide surfaces for marine organisms, including corals and fish, to flourish.

📷 Photo of the Day

Oct. 6-7, Abu Dhabi. Ai Everything. The AI forum brings together policymakers, innovators and business leaders. ADNEC Centre.

Oct. 7-9, Singapore. Milken Institute Asia Summit. Bringing together a global community of influential leaders shaping the next era of intelligence, collaboration and growth. Four Seasons Hotel.

Oct. 12-14, Dubai. The Airport Show. Exploring innovations in sustainability, digitalization, security and passenger experience, alongside several major industry forums. Dubai World Trade Centre. 

Oct. 13-15, Dubai. SuperReturn Middle East. Exploring fundraising, private credit, family offices, infrastructure, AI, venture capital and shifting investment opportunities across the region. Ritz-Carlton, DIFC.

Oct. 21, Abu Dhabi. Reuters NEXT Gulf. Exploring the Gulf’s growing global influence across AI, finance, energy, trade and geopolitics. St. Regis Saadiyat Island Resort.

Oct. 21, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 22-26, Dubai. Dubai Fashion Week. Dubai’s official fashion platform, bringing together regional and international designers, buyers and industry leaders for runway shows, collection launches and events. Dubai Design District.

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

OMAN OPTION

Saudi Arabia is developing a new oil pipeline reaching Oman’s coast that would give its crude exports an additional route around the Strait of Hormuz. TotalEnergies CEO Patrick Pouyanné said the kingdom had “begun to work” on a link to Duqm, home to Oman’s largest refinery, Arabian Gulf Business Insight reports. He offered no details on the project’s progress during the company’s investor day in New York on Monday. Analysts have explored potential pipeline routes across the Gulf since the U.S.-Iran war began in February.

INDIA DEAL 

UAE-based AIQ has signed a deal to deploy 1 million of its AI-powered cameras across the refineries, gas stations and digital stores of an Indian oil and gas conglomerate. AIQ, which is a joint venture between Abu Dhabi National Oil Co. and G42-backed AI company Presight, started exporting its technology a little over a year ago and is now operating in markets including North America, Kazakhstan, Egypt, Colombia, Malaysia, Vietnam and Kuwait, Reuters reports. AIQ designs systems that help make energy operations more efficient, including alerting companies to corrosion or failing parts in remote oil fields. It struck a $340 million deal with ADNOC last year to deploy its AI across ADNOC operations. 

Public Investment Fund: Saudi Arabia’s PIF-owned developers Rua AlHaram AlMakki and Rua Al Madinah signed agreements with Brunei’s Islamic financial institution TAIB to explore joint investment in developments serving pilgrims and visitors in Mecca and Medina. 

Oman Investment Authority: OIA has expanded its space technology investments through a stake in Spain’s PLD Space, which plans to launch its Miura 5 rocket from Oman’s Duqm spaceport.

Mubadala: The UAE’s biggest lender First Abu Dhabi Bank, which is backed by Mubadala, is considering syndicating its $5 billion total-return swap with Nigeria, Bloomberg reports.

Emirates Global Aluminium has signed an agreement with global ports operator Gulftainer to boost aluminum exports through the UAE’s eastern coast, The National reports. EGA is jointly owned by Mubadala and the Investment Corp. of Dubai.

☎️ Telco IPO: Dubai-based Airtel Money, the mobile money unit of telecoms group Airtel Africa, has priced its IPO at $2.60 a share, valuing the company at about $7 billion.

🏡 Property Takeover: UAE-based Gulf Islamic Investments acquired a majority stake in U.K. fractional property platform London House Exchange for an undisclosed sum. 

💰 Widening Gap: Saudi Arabia raised its projected 2026 budget deficit to 4.9% of GDP from 3.3% as increased spending on defense and infrastructure outweighs gains from higher oil prices and record non-oil revenue, Bloomberg reports.

🤝 Working Together: The Egyptian Exchange and Abu Dhabi Securities Exchange signed an agreement to deepen market integration, facilitate cross-border trading and dual listings and boost investment flows between Egypt and the UAE.

⚔️ Defense Shuffle: The UAE’s newest defense entity, Generation 5 Holding, known as GEN5, is expected to incorporate Emirati aviation maintenance firms Global Aerospace Logistics and Advanced Military Maintenance Repair and Overhaul Centre into its portfolio, Intelligence Online reports. Both were previously held by state-owned EDGE Group. 

🏢 Hot Spot: Eurazeo, a European private markets asset manager with 40 billion euros under management, has opened its first Middle East office in Abu Dhabi’s ADGM.

⚽ No Misconduct: Etihad Airways rejected any suggestion that it was involved in improper commercial arrangements after an independent commission found Manchester City breached Premier League financial rules.

⚖️ Maritime Law: A new UAE shipping regulation takes full effect today, as the country seeks to boost its security systems, The National reports. 

🛢️ Market Disruption: U.S. shale executives are growing increasingly concerned that volatility caused by the Iran war is making it difficult to plan for the rest of 2026 and 2027.

Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and UAE National Security Adviser, met with Oman’s Sultan Haitham bin Tarik, at Al Baraka Palace in Oman on Wednesday. 

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, attended LIVEX 2026 at ADNEC Centre Abu Dhabi on Wednesday.

Sheikh Abdullah bin Zayed, the UAE Foreign Minister and Deputy Prime Minister, held a phone call with Gideon Sa’ar, Israel’s Foreign Minister, on Wednesday and expressed his wishes for the well-being of passengers who were aboard flydubai flight FZ1073 on Wednesday.

Ynon Kreiz was named Co-CEO of Paramount Skydance with its Gulf-backed $110 billion acquisition of Warner Bros. Discovery. Kreiz, who was born and raised in Israel, joins Chairman and CEO David Ellison from toy giant Mattel, which he has led since 2018. Saudi Arabia’s Public Investment Fund, the Qatar Investment Authority and Abu Dhabi’s L’Imad Holding are all backing the deal. 

Lucien Selce, a convicted insider trader, was arrested in Dubai on Wednesday after France issued a warrant to enforce his three-year prison sentence linked to Air Liquide’s takeover of Airgas, Bloomberg reports.

Tanuja Randery, Managing Director for Europe, the Middle East and Africa at AWS, told Arabian Gulf Business Insight that advanced AI adoption in the UAE remained at “about one in three businesses,” with financial services and media leading the way.

Chris Wood, the English professional golfer, said the regional conflict never made him consider skipping UAE tournaments as he returned to the region this week for the Abu Dhabi Challenge in Al Ain.

Usman Ahmed was appointed Group CEO of the Qatar-listed AlRayan Bank, replacing Fahad Al Khalifa, who will transition to the role of Advisor to the Chairman.

👻 Ghost Appeal: A long-abandoned palace in the UAE that has a reputation as a haunted house has been put on the market for about $6.4 million. Al Qasimi Palace in the emirate of Ras Al Khaimah sat empty for about 35 years, becoming the source of stories about supernatural spirits, known as jinn – with children’s faces appearing in the windows and furniture moving on its own. A spokesman for its owner told The National that at least some of the sounds that fueled the rumors could be explained by trespassers.

📷 Photo of the Day

Oct. 6-7, Abu Dhabi. Ai Everything. The AI forum brings together policymakers, innovators and business leaders. ADNEC Centre.

Oct. 7-9, Singapore. Milken Institute Asia Summit. Bringing together a global community of influential leaders shaping the next era of intelligence, collaboration and growth. Four Seasons Hotel.

Oct. 12-14, Dubai. The Airport Show. Exploring innovations in sustainability, digitalization, security and passenger experience, alongside several major industry forums. Dubai World Trade Centre. 

Oct. 13-15, Dubai. SuperReturn Middle East. Exploring fundraising, private credit, family offices, infrastructure, AI, venture capital and shifting investment opportunities across the region. Ritz-Carlton, DIFC.

Oct. 21, Abu Dhabi. Reuters NEXT Gulf. Exploring the Gulf’s growing global influence across AI, finance, energy, trade and geopolitics. St. Regis Saadiyat Island Resort.

Oct. 21, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 22-26, Dubai. Dubai Fashion Week. Dubai’s official fashion platform, bringing together regional and international designers, buyers and industry leaders for runway shows, collection launches and events. Dubai Design District.

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

EMERGENCY LANDING

A flydubai flight from Dubai to Tel Aviv made an emergency landing in Saudi Arabia’s Tabuk airport on Wednesday after issuing a distress call. Both pilots were injured and taken to a nearby hospital, The National reports, while Reuters, citing two Israeli officials, said the incident may have been an attempted terrorist attack. The officials said the co-pilot was believed to have stabbed the captain before cabin crew entered the cockpit and took control of the aircraft. Flydubai said the plane landed safely, all passengers were accounted for, and it was working with Saudi authorities.

BYPASS BILLIONS

Abu Dhabi’s newest sovereign wealth fund has become central to the UAE’s “Zero Hormuz” strategy, a plan to bypass the troubled waterway that is evolving into one of the world’s largest infrastructure efforts. As part of that plan, L’Imad Holding, overseen by Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed, has been buying out minority shareholders in AD Ports Group through its subsidiary ADQ. The fund is now preparing to spend tens of billions of dollars more on new port infrastructure outside the strait, Bloomberg reports. The effort makes Sheikh Khaled and the powerbrokers surrounding him crucial to both Washington and Wall Street, the news agency reports, citing discussions between the Crown Prince, L’Imad CEO Jassem Bu Ataba Al Zaabi and finance bosses including BlackRock’s Larry Fink.

L’Imad Holding: Modon Holding, majority-owned by the Abu Dhabi sovereign wealth fund, awarded a $230 million contract to Innovo Build and RedCon Construction for infrastructure and construction works at Wadi Yemm, part of Egypt’s $35 billion Ras El Hekma development.

Investment Corp. of Dubai: Emirates NBD Capital is among the book-running lead managers on the $1 billion IPO of Indian renewable energy company Inox Clean Energy.

Oman Investment Authority: OQ, Oman’s state energy company, plans to double onshore oil storage at Duqm to 10 million barrels within three years and is considering acquiring two supertankers for floating storage as Gulf producers seek alternatives to the Strait of Hormuz, Bloomberg reports.

Qatar Investment Authority: Qatar raised $3 billion through a bond sale coordinated by QIA-backed QNB Capital and other international banks.

Temasek: Singapore sovereign investor Temasek plans to expand its Middle East presence with new offices in the UAE and Saudi Arabia in 2027.

💱 Renewed Swap: The UAE and Egypt renewed their $1.4 billion currency swap agreement for five years to support bilateral trade, investment and financial cooperation.

🏢 Local Development: Abu Dhabi developer Aldar and Sharjah-based Arada are partnering on $4 billion of residential and mixed-use projects on Yas Island and at Seih Sdeirah in Abu Dhabi.

💰 Cautious Investment: Gulf sovereign wealth funds have invested more than $30 billion in India, but family offices remain cautious amid the Iran war and competition from elsewhere in Asia, Arabian Gulf Business Insight reports.

🚕 Robotaxi Fleet: China’s Momenta is entering the UAE’s growing market for driverless taxis, testing in Abu Dhabi before expanding to Dubai.

⚽ City Sanctions: The English Premier League said an independent commission has found that Abu Dhabi-owned Manchester City inflated its financial results through sham sponsorship deals. The club plans to appeal.

🏨 Deposit Drama: Saudi businessman Motasem Khashoggi’s deal to buy New York’s Pierre Hotel hinges on shareholder approval and a $100 million deposit, which has not materialized, Vanity Fair reports. Mark Zuckerberg, Michael Dell and Morocco’s King Mohammed VI were also reportedly approached to purchase the hotel.

🚪 New Office: London-based Pantheon has opened its first Abu Dhabi office in ADGM as the $84 billion private markets firm expands in the Middle East.

🤖 AI Risk: Saudi Arabia introduced a national framework to help government agencies and companies identify and manage AI risks, Arab News reports.

UAE President Sheikh Mohamed bin Zayed met with Hakainde Hichilema, President of Zambia, who is on a working visit to the UAE.

Sheikh Mansour bin Zayed, the UAE Vice President, met in Riyadh on Tuesday with Saudi Crown Prince Mohammed bin Salman and Crown Prince Khalid bin Salman, the Minister of Defense, in the first senior Emirati visit since a rift developed between the countries last year.

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, has announced the formation of the Board of Directors of the Investment Corporation of Dubai, which will be chaired by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai. 

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, met with Tom Cotton, Chairman of the U.S. Senate Select Committee on Intelligence, and Roger Wicker, Chairman of the Senate Armed Services Committee, in Washington on Tuesday.

Steve Davis, President of U.S.-based The Boring Company, met with Dubai’s Crown Prince Hamdan bin Mohammed on Tuesday.

Fatima Ezzahra El Mansouri, the Mayor of Marrakech, has been asked by Morocco’s King Mohammed VI to form a new government and become the country’s first female prime minister, after her party came out on top in parliamentary elections last week.

Edward Bell is leaving Emirates NBD, where he was Chief Economist, for Mitsubishi UFJ Financial Group, where he will head the Japanese bank’s research for the Middle East and North Africa.

🎤 Culture Capital: Deadpool star Ryan Reynolds praised the way Abu Dhabi has developed its arts and culture scene. Speaking at the Abu Dhabi livability expo LiveX on Tuesday, the Canadian actor said the emirate had “done very, very well” in building its artistic sector, The National reports. “I think of communities that function and thrive, and it’s usually because they have a very healthy sense of self,” he said. “They have an identity, a strong pride in what they are and something that they believe in.”

📷 Photo of the Day

Sept. 28-Oct. 1, Singapore. SuperReturn Asia. The region’s premier private capital gathering. Marina Bay Sands Convention Centre.

Sept. 29-Oct. 1, Dubai. Future Hospitality Summit. Exploring key trends in hotel development, sustainability, innovation and entrepreneurship. Madinat Jumeirah. 

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

Sept. 29-Oct. 1, Dubai. GoTech. Energy industry leaders, startups and technology experts explore innovation, AI, sustainability and emerging technologies shaping the future of energy. Dubai World Trade Centre.

Oct. 6-7, Abu Dhabi. Ai Everything. The AI forum brings together policymakers, innovators and business leaders. ADNEC Centre.

Oct. 7-9, Singapore. Milken Institute Asia Summit. Bringing together a global community of influential leaders shaping the next era of intelligence, collaboration and growth. Four Seasons Hotel.

Oct. 12-14, Dubai. The Airport Show. Exploring innovations in sustainability, digitalization, security and passenger experience, alongside several major industry forums. Dubai World Trade Centre. 

Oct. 13-15, Dubai. SuperReturn Middle East. Exploring fundraising, private credit, family offices, infrastructure, AI, venture capital and shifting investment opportunities across the region. Ritz-Carlton, DIFC.

Oct. 21, Abu Dhabi. Reuters NEXT Gulf. Exploring the Gulf’s growing global influence across AI, finance, energy, trade and geopolitics. St. Regis Saadiyat Island Resort.

Oct. 21, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 22-26, Dubai. Dubai Fashion Week. Dubai’s official fashion platform, bringing together regional and international designers, buyers and industry leaders for runway shows, collection launches and events. Dubai Design District.

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

DISCOUNT CRUDE

Saudi Aramco, the world’s biggest oil exporter, is considering discounts on crude transferred between ships off Oman to offset soaring freight costs and win back Asian buyers.  The discount under discussion is about $9 a barrel, one source told Reuters, though no decision has been announced. The shipments would load in the second half of October outside the Strait of Hormuz, where the Iran war has disrupted oil traffic. Aramco expects that lower prices can help it win back sales as the UAE’s ADNOC expands exports through terminals outside the strait.

DUBAI DEBUT

Etihad Rail will begin passenger service from Dubai tomorrow, connecting the city’s Al Yalayis station with Abu Dhabi and Fujairah. The Dubai-Abu Dhabi journey will take about 64 minutes, with fares starting at 39 dirhams ($10.60) for comfort class and 109 dirhams for premium seats. The debut comes three months after the launch of the UAE’s first passenger line between Abu Dhabi and Fujairah, with the Dubai station primed to serve as a key commuter route link to the capital. UAE President Sheikh Mohamed bin Zayed and Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Minister of Defense, attended the official opening of the Dubai station on Monday.

Saudi Aramco: The world’s biggest oil exporter is discussing discounts on crude transferred between ships off Oman to offset soaring freight costs and win back Asian buyers, Reuters reports.

L’Imad Holding: The Abu Dhabi sovereign fund is shaping one of its units, L’Imad Capital, into a global investment vehicle to back private equity and other funds before seeking out third-party capital, Bloomberg reports. 

Mubadala: The Abu Dhabi sovereign wealth fund and Together AI have formed a strategic partnership that will see the U.S. AI cloud computing platform establish an Abu Dhabi presence, following Mubadala’s $100 million investment in its $800 million Series C round.

Mubadala: The fund is reported to be seeking an exit from India’s Cube Highways Trust through a $71.7 million secondary sale of its 3.4% stake.

Public Investment Fund: PIF-backed Rua AlHaram AlMakki and Malaysia’s MRCB are proposing to build a $5.6 billion mixed-use development within Mecca’s King Salman Gate project.

Abu Dhabi Investment Authority: An ADIA unit is participating as an investor in the $2.34 billion buyout of Canada’s Slate Grocery REIT by U.S.-based firms Brixmor Property Group and Everview Partners.

QatarEnergy: The state-owned company extended its suspension of LNG deliveries to Italy’s Edison until early December and to some Asian customers, as the Strait of Hormuz remains closed, Reuters reports.

Kuwait Investment Authority: Samsung Electronics and its affiliates will invest $1 billion in KKR-backed Helix Digital Infrastructure, in which the KIA is a founding member.

✈️ Plane Shopping: Qatar’s Lesha Bank has agreed to acquire 33 leased commercial aircraft from Avolon.

🖥️ Taking Over: U.S.-based AI platform Replit has acquired Egypt-founded business analytics startup Atta.

⛏️ Mining Acquisition: Germany’s Knauf plans to acquire the remaining shares in Saudi Arabia’s United Mining Industries for about $78 million, potentially delisting the company from the Nomu Parallel Market.

💊 Health Care: Swiss healthcare group Clinique La Prairie plans to open longevity and wellness centers in Riyadh and Jeddah after launching its Amaala resort next year.

🛢️ Pipeline Returns: Saudi Arabia has restored flows through its East-West oil pipeline to at least 3.5 million barrels a day, about half its capacity, and tankers have resumed loading at Red Sea ports after drone strikes halted the route earlier this month, Bloomberg reports.

🏦 Chinese Arrival: Beijing-based China Securities has opened a regional office in Dubai International Financial Centre, joining a growing group of Chinese banks and investment firms operating in the UAE.

👨‍💻 Fintech Expansion: Dubai-based Airtel Money is seeking Middle East fintech partnerships to expand in Africa and is open to a potential UAE dual listing after completing its planned London IPO, CEO Ian Ferrao told The National.

UAE President Sheikh Mohamed bin Zayed received Hakan Fidan, Turkey’s Minister of Foreign Affairs, in Abu Dhabi on Monday.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, will visit Saudi Arabia on Tuesday at the invitation of Prince Khalid bin Salman, Saudi Arabia’s Minister of Defense.

Sheikh Abdullah bin Zayed, UAE Foreign Minister, met separately in New York with a number of foreign ministers participating in the United Nations General Assembly on Monday, including Greece’s Foreign Minister George Gerapetritis and Singapore’s Foreign Minister Dr. Vivian Balakrishnan.

Sheikh Hamdan bin Zayed, Ruler’s Representative in Al Dhafra Region and Chairman of the Board of Directors of Environment Agency – Abu Dhabi, chaired the agency’s third board meeting of 2026.

Mohammad Yisr Barnieh, Syria’s Finance Minister, took part in the Arab Monetary Fund’s Golden Jubilee in Abu Dhabi on Monday.

Dr. Hamad Saif Al Shamsi, UAE Attorney General, discussed strengthening judicial cooperation, exchanging expertise and enhancing coordination on cross-border cases during separate meetings with Stefan Blättler, Attorney General of Switzerland, and Zhumagali Askhat Zhumagaliuly, Deputy Prosecutor General of Kazakhstan, in Abu Dhabi on Monday.

Brett King, the futurist and author, attended the First Abu Dhabi Bank and IMD Competitiveness Summit 2026 in Abu Dhabi on Monday, telling The National that AI agents will make some banking roles obsolete in the coming years.

🎨 Art Agenda: Frieze Abu Dhabi has unveiled the program for its inaugural event, naming Lebanese artist Dala Nasser the first recipient of its Artist Award. Nasser’s new installation inspired by a historic monument near Baalbek will be the centerpiece of the program, The National reports. An exhibition of works by Emirati artists Mohammed Kazem and Alia Zaal is also among the highlights of the art fair, which will take place at Manarat Al Saadiyat from Nov. 19 to 22. 

📷 Photo of the Day

Sept. 28-Oct. 1, Singapore. SuperReturn Asia. The region’s premier private capital gathering. Marina Bay Sands Convention Centre.

Sept. 29-30, Abu Dhabi. Arab Federation of Capital Markets. Hosted by the Abu Dhabi Securities Exchange, the event brings together executives from Arab stock exchanges, regulators, clearing houses, investment banks, asset managers and international financial institutions. Grand Hyatt Abu Dhabi.

Sept. 29-30, Doha. Qatar Fintech Expo. QFEX 2026 will explore developments in financial markets, artificial intelligence, digital assets, fintech and connectivity. Hilton Doha.

Sept. 29-Oct. 1, Dubai. Future Hospitality Summit. Exploring key trends in hotel development, sustainability, innovation and entrepreneurship. Madinat Jumeirah. 

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

Sept. 29-Oct. 1, Dubai. GoTech. Energy industry leaders, startups and technology experts explore innovation, AI, sustainability and emerging technologies shaping the future of energy. Dubai World Trade Centre.

Sept. 30, Dubai. AWS Summit Dubai. Exploring the latest developments in cloud computing, AI and digital transformation. Dubai World Trade Centre. 

Oct. 6-7, Abu Dhabi. Ai Everything. The AI forum brings together policymakers, innovators and business leaders. ADNEC Centre.

Oct. 7-9, Singapore. Milken Institute Asia Summit. Bringing together a global community of influential leaders shaping the next era of intelligence, collaboration and growth. Four Seasons Hotel.

Oct. 12-14, Dubai. The Airport Show. Exploring innovations in sustainability, digitalization, security and passenger experience, alongside several major industry forums. Dubai World Trade Centre. 

Oct. 13-15, Dubai. SuperReturn Middle East. Exploring fundraising, private credit, family offices, infrastructure, AI, venture capital and shifting investment opportunities across the region. Ritz-Carlton, DIFC.

Oct. 21, Abu Dhabi. Reuters NEXT Gulf. Exploring the Gulf’s growing global influence across AI, finance, energy, trade and geopolitics. St. Regis Saadiyat Island Resort.

Oct. 21, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 22-26, Dubai. Dubai Fashion Week. Dubai’s official fashion platform, bringing together regional and international designers, buyers and industry leaders for runway shows, collection launches and events. Dubai Design District.

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

SEEING DOUBLE

Gems Education is planning to launch artificial intelligence-powered “twins” of its teachers for use in UAE classrooms. Gems, the largest private school provider in the Emirates, has been working with Napster, which rebranded as an AI company last year, to design digital personas that look, sound, and respond like specific staff members, The National reports. “This initiative is designed to extend the reach and impact of teachers, not replace them,” Baz Nijjar, Senior Vice President of Innovation, AI and Futurism at Gems Education, and Managing Director of its Intelligence 360 platform, told the newspaper. The school group sees after-hours homework assistance as the primary use case for the twins and says teachers will not be automatically required to participate. Gems has more than 200,000 pupils across its network.

MAN CITY RESPONDS

Manchester City Chairman Khaldoon Al Mubarak told supporters the football club remains confident it can prove its innocence after reports that an independent panel found it guilty of 114 breaches of Premier League financial rules. “Following Friday’s media reporting, many of you will have spent your evening answering questions and ​responding to messages from friends, family and colleagues. So have I,” Al Mubarak, who is also CEO of the UAE’s Mubadala sovereign wealth fund, wrote in an open letter. “Here’s what I ​said to my family: The Premier League process still has a long way ⁠to run, and our confidence and intent in proving the club’s innocence is just as strong as ​when this began.”

Abu Dhabi Investment Council: ADIC participated in a $3.4 billion convertible fundraising round for London-based AI data center operator Nscale, led by U.S. hedge fund Third Point. Other investors included Nvidia, funds managed by Apollo, Citadel, Hudson Bay Capital and 8090 Industries. 

Saudi Aramco: The world’s biggest oil exporter has hired Evercore to advise on a proposed standalone gas division that could attract investors or eventually be listed at a valuation above $100 billion, Bloomberg reports.

XRG: The international investment arm of ADNOC has backed the expansion of Azerbaijan’s Absheron gas field, which is expected to unlock up to 5 trillion cubic feet of recoverable gas resources.

Abu Dhabi Investment Authority: Shares in India’s Allied Blenders & Distillers rose in Mumbai on Monday, after Bloomberg reported the company was considering options including a potential sale of the business. ADIA bought more than 1.5 million shares last week for $10 million.

International Holding Co.: Royal Development Holding, a subsidiary of IHC-owned Emirates Stallion Group, has awarded the main $215 million contract for Seamont Autograph Collection Residences on Al Reem Island to Abu Dhabi-based Fibrex.

G42: Presight, the Abu Dhabi-based AI company majority-owned by G42, has backed a $100 million Series A round for California-based Maven Robotics, alongside Abu Dhabi-based investment firm Shorooq Partners.

🤠 Texas Homes: Dubai’s Sobha Realty is investing $600 million to build about 700 homes in the Dallas-Fort Worth area as the developer expands its U.S. footprint.

☀️ Solar Financing: Dubai Electricity and Water Authority refinanced the 950MW Noor Energy 1 phase of Dubai’s Mohammed bin Rashid Al Maktoum Solar Park with a $2.7 billion package from international and regional lenders.

🚂 Rail 2.0: Autonomous freight rail company Parallel Systems and Agility’s corporate venture arm have agreed to a strategic collaboration to develop autonomous rail freight systems across the Gulf and wider international markets.

✈️ Fleet Shift: Qatar Airways has retired its last A330 passenger jets and offered some pilots temporary assignments with RwandAir as the Iran war disrupts Gulf flights and drives up fuel costs, Reuters reports.

💰 Domestic Pivot: The Iran war could redirect $50 billion to $100 billion of Gulf capital from overseas investments into domestic markets, according to asset manager BlackRock.

✈️ Red Sea Boost: Jeddah Airports has started phased operations at Terminal 4 this week, gradually transferring foreign airlines from other terminals to increase capacity and streamline passenger traffic.

🚗 Driverless Test: Dubai has launched the Dubai Mobility Labs at Dubai Silicon Oasis to test autonomous vehicles before deployment on the emirate’s roads.

💸 Settling Debt: Egypt has settled nearly 90% of the debt owed to its National Investment Bank, covering EGP299 billion ($6 billion) and helping the state lender return to profit after years of losses.

Prince Faisal bin ‌Farhan, Saudi Arabia’s Foreign Minister, arrived in Washington on Monday ahead of expected talks with U.S. Secretary of State Marco Rubio.

Sheikh Abdullah bin Zayed, UAE Foreign Minister, hosted a Youth Dialogue on the sidelines of the United Nations General Assembly in New York on Sunday.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Minister of Defense, on Sunday set out Dubai’s plans to be a “global center for healthy longevity.”

Egypt’s President Abdel Fattah El-Sisi met with Alberto Calderon, CEO of AngloGold Ashanti, on the sidelines of the opening of the Egypt Mining Forum 2026 in Cairo. Also at the meeting were Egypt’s Prime Minister Moustafa Madbouly, Minister of Petroleum and Mineral Resources Karim Badawi, AngloGold Ashanti’s Chief of Corporate Affairs Stewart Bailey and the President of AngloGold Ashanti Egypt, Hoda Ahmed El-Askalani.

Dr. Sultan Al Jaber, Managing Director and Group CEO of ADNOC and Executive Chairman of XRG, met with J.P. Morgan Chairman and CEO Jamie Dimon.

Fouad Darwish, Vice President of the UAE Chess Federation, has been elected Vice President of the International Chess Federation, becoming one of three vice presidents elected during the FIDE General Assembly in Samarkand, Uzbekistan, held on the sidelines of the World Chess Olympiad.

🚂 On The Map: Residents of Al Dhaid in the UAE emirate of Sharjah are anticipating a new pace of life as the national railway arrives in the tranquil oasis town, traditionally known for its date palms and fruit farms. Etihad Rail will launch a new station at Al Dhaid on Wednesday, bringing tourists and business opportunities to the desert escape, which is known for its centuries-old irrigation systems and a restored historic fort, The National reports.

📷 Photo of the Day

Sept. 28-Oct. 1, Singapore. SuperReturn Asia. The region’s premier private capital gathering. Marina Bay Sands Convention Centre.

Sept. 29-30, Abu Dhabi. Arab Federation of Capital Markets. Hosted by the Abu Dhabi Securities Exchange, the event brings together executives from Arab stock exchanges, regulators, clearing houses, investment banks, asset managers and international financial institutions. Grand Hyatt Abu Dhabi.

Sept. 29-30, Doha. Qatar Fintech Expo. QFEX 2026 will explore developments in financial markets, artificial intelligence, digital assets, fintech and connectivity. Hilton Doha.

Sept. 29-Oct. 1, Dubai. Future Hospitality Summit. Exploring key trends in hotel development, sustainability, innovation and entrepreneurship. Madinat Jumeirah. 

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

Sept. 29-Oct. 1, Dubai. GoTech. Energy industry leaders, startups and technology experts explore innovation, AI, sustainability and emerging technologies shaping the future of energy. Dubai World Trade Centre.

Sept. 30, Dubai. AWS Summit Dubai. Exploring the latest developments in cloud computing, AI and digital transformation. Dubai World Trade Centre. 

Oct. 6-7, Abu Dhabi. Ai Everything. The AI forum brings together policymakers, innovators and business leaders. ADNEC Centre.

Oct. 7-9, Singapore. Milken Institute Asia Summit. Bringing together a global community of influential leaders shaping the next era of intelligence, collaboration and growth. Four Seasons Hotel.

Oct. 12-14, Dubai. The Airport Show. Exploring innovations in sustainability, digitalization, security and passenger experience, alongside several major industry forums. Dubai World Trade Centre. 

Oct. 13-15, Dubai. SuperReturn Middle East. Exploring fundraising, private credit, family offices, infrastructure, AI, venture capital and shifting investment opportunities across the region. Ritz-Carlton, DIFC.

Oct. 21, Abu Dhabi. Reuters NEXT Gulf. Exploring the Gulf’s growing global influence across AI, finance, energy, trade and geopolitics. St. Regis Saadiyat Island Resort.

Oct. 21, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 22-26, Dubai. Dubai Fashion Week. Dubai’s official fashion platform, bringing together regional and international designers, buyers and industry leaders for runway shows, collection launches and events. Dubai Design District.

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