ADNOC STEERING

Shell is nearing a $1 billion sale of its South African fuel station network to a unit of ADNOC, adding to a list of recent overseas deals by the Abu Dhabi energy giant, which has continued to deploy billions of dollars globally. If it goes through, the deal would give ADNOC Distribution about 600 retail outlets, or roughly 10% of Africa’s largest fuel market, as Shell continues its divestment of non-core assets, Bloomberg reports. Separately, ADNOC is proposing a new crude pricing formula that would tie key grades such as Upper Zakum, Das and Umm Lulu more closely to the Dubai benchmark rather than to Murban futures. The plan would set monthly official selling prices for certain crude grades at a differential to the Dubai benchmark for cargoes loading two months ahead, potentially supporting ADNOC’s effort to increase production and exports following the UAE’s exit from OPEC.

RAILWAY ARRIVES

The first paying passengers have taken a trip aboard Etihad Rail’s new nationwide route, which will eventually link 11 destinations across the country. The first train service runs between Abu Dhabi and the east coast city of Fujairah, taking about one hour and 45 minutes to travel 250 kilometers (155 miles). Six trains ran on Tuesday, with the first departing from Fujairah at 5:34 a.m. local time, amid festivities including a traditional Emirati men’s dance and a mascot from a popular local cartoon. Passengers were greeted with Arabic coffee, cookies and wellness shots. Etihad Rail sold more than 10,000 tickets ahead of the launch.

Public Investment Fund: The Saudi sovereign wealth fund increased assets 5% to $1.2 trillion in 2025, while net profit more than doubled.

Public Investment Fund: ACWA Power, backed by the PIF, won a $700 million contract to develop a power plant in Mauritania.

Public Investment Fund: The U.K. government is considering intervening in Paramount Skydance’s takeover of Warner Bros. Discovery, which is backed by the PIF, Qatar Investment Authority and Abu Dhabi’s L’Imad Holding, over concerns about concentration of news ownership. The combined Paramount and Warner Bros. viewing share of linear channels would make it the third-largest broadcaster in the U.K.

Mubadala: The Abu Dhabi sovereign wealth fund deployed $15.2 billion in the first six months of 2026, making it the world’s most active sovereign wealth fund, according to Global SWF.

Abu Dhabi Investment Authority: ADIA is investing $45 million as a cornerstone investor in Luxshare’s $3.1 billion Hong Kong IPO, alongside other major global funds, as the Apple supplier prepares to list on July 9.

Kuwait Investment Authority: The KIA has launched a $4.25 billion three-year syndicated loan, led by Mizuho, HSBC, Standard Chartered and SMBC.

Qatar Investment Authority: The QIA completed a $7.4 billion take-private of Janus Henderson Group from the NYSE with partners Trian Fund Management and General Catalyst Group Management.

Judan Financial Holding: Neutron Holdings, backed by Uber Technologies Inc. and UAE-based Judan, raised $174 million in its U.S. IPO, which valued the short-term scooter and bike rental company at $1.6 billion. 

QatarEnergy: The state-owned oil company and ExxonMobil signed a declaration with Cyprus confirming the commercial viability of their Glaucus gas discovery, advancing plans to develop the field and export Eastern Mediterranean gas.

ADNOC: Nigeria’s 650,000-barrel-a-day Dangote refinery imported its first 2 million barrels of crude from ADNOC.

🛡️ Air Defense: Norway’s Kongsberg Gruppen won a $400 million contract to supply Kuwait with its NASAMS air defense system through Raytheon under the U.S. Foreign Military Sales program.

🛢️ Record Exports: The UAE exported a record 3.7 million barrels a day of crude and condensate in June, the highest on record, as Abu Dhabi ramped up shipments after leaving OPEC.

🛰️ Space Odyssey: Qatar will launch Es’hailSat, its third satellite project, costing about $347 million, in 2030.

🚢 Toll Booth: Iran and Oman are moving forward with plans to collect payment for ships transiting the Strait of Hormuz, despite public American objections, The New York Times reports.

🏙️ Dubai Draw: Hedge funds, banks and family offices are accelerating plans to expand in Dubai after the Iran war, betting the emirate’s role as the Gulf’s financial hub will outweigh regional geopolitical risks, Bloomberg reports.

🩺 Health Focus: Investcorp, the Bahrain-based asset manager, will continue to invest in family offices across the GCC, with a focus on healthcare, Walid Majdalani, its Head of Emerging Markets Private Equity, told Zawya. 

🏢 Expanding Footprint: Arab Bank Switzerland has launched ABS Middle East in the Dubai International Financial Center.

😠 Strained Alliance: A dispute between Washington and Riyadh over U.S. plans to reopen the Strait of Hormuz exposed a serious rift after Saudi Arabia initially refused to allow American forces to use its bases and airspace for the operation, The Wall Street Journal reports. Tensions have lingered, with Saudi Crown Prince Mohammed bin Salman skipping the recent G7 Summit and U.S. Secretary of State Marco Rubio omitting Riyadh from his Gulf tour.

Sheikh Maktoum bin Mohammed, the UAE Finance Minister and Deputy Ruler of Dubai, has bought a townhouse in London’s Belgravia neighborhood for £35.5 million ($47 million), in one of the biggest house deals in the city this year, Bloomberg reports.

Sheikh Mohammed ​bin Abdulrahman Al-Thani, the Qatari Prime Minister, said his country will continue its mediation efforts ⁠between the U.S. and Iran, speaking after a meeting with U.S. envoys Steve Witkoff and Jared Kushner.

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, met China’s Vice President Han Zheng on Tuesday in Beijing.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, UAE Deputy Prime Minister and Minister of Defense, and Chairman of the Executive Council of Dubai, met with members of the emirate’s Knowledge and Human Development Authority to review a new set of educational initiatives.

Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources, met with Richard Hall, CEO of Dana Gas, to discuss increasing natural gas output from the UAE-based company’s onshore Nile Delta concessions. 

Pietro Salini, CEO of Webuild, told Arabian Gulf Business Insight that despite no longer working on NEOM, the company still wants to expand in Saudi Arabia.

Duncan O’Rourke, Accor’s CEO for the Middle East, Africa and Asia Pacific, told a media roundtable that Dubai’s hotel market is unlikely to recover fully from the impact of the U.S. war on Iran.

Mohamed Ali Al-Sharafa, the Chairman of Abu Dhabi’s Department of Municipalities and Transport, announced Abu Dhabi’s inaugural Livability and Investment Exhibition taking place Sept. 29-Oct. 1. Others at a press briefing for the event included Muhammad Khalifa Al-Mubarak, Chairman of the Department of Culture and Tourism and Chairman of Aldar Real Estate; Abdullah Al-Jarwan, Chairman of the Energy Department; and Badr Saleem Sultan Al-Ulema, General Manager of the Abu Dhabi Investment Office.

🍽️ Star Power: Dubai’s most celebrated Indian fine-dining restaurant is expanding into the U.K., bringing its signature blend of modern flavors and theatrical presentation to one of London’s most exclusive neighborhoods. Tresind Mayfair, the latest venture from Passion F&B, has opened its doors, adding to the group’s restaurants in the UAE and India, The National reports. Tresind Studio at St. Regis Gardens The Palm was the first Indian restaurant to receive a third Michelin star last year, ranking it among the best eateries in the world.

📷 Photo of the Day

July 7-11, Sun Valley, Idaho. Allen & Co. Conference. Annual invitation-only gathering of top figures in technology, finance, media and government. Sun Valley Lodge.

July 8-9, Abu Dhabi. Money Expo Abu Dhabi. Bringing together investors, traders, fintech innovators, and financial institutions to explore the future of finance. ADNEC Center.

July 14-15, Carlisle, Pa.: Pennsylvania Defense and Innovation Summit. U.S. President Donald Trump to headline event at U.S. Army War College in Carlisle, joining defense, technology, finance and government leaders for discussions on military innovation and investment.

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

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

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

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

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

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

ENERGY INVESTMENT

Middle East sovereign wealth funds are making energy security their top investment priority as geopolitical tensions, supply chain disruptions, and market volatility reshape portfolio strategies. Some 89% of regional sovereign funds surveyed by Invesco ranked energy security as a key focus, while 67% said they plan to increase investments in critical infrastructure over the next year, Arab News reports. The U.S.-based asset management firm’s annual Global Sovereign Asset Management Study showed all the funds expect the coming decade to be more challenging than the last, driving greater interest in resilient infrastructure, private markets and artificial intelligence. The study was based on interviews with institutions managing a combined $29 trillion in assets.

ECONOMIC RESILIENCE

Egypt is exploring a new mechanism to finance late-stage startups, Investment and Foreign Trade Minister Mohamed Farid said. The initiative, which involves the Sovereign Fund of Egypt, aims to address funding gaps at early stages of company growth and support a new integrated investment data system. Farid, speaking on Monday at the 2026 annual investors meeting of Development Partners International, also outlined broader reforms to boost exports, upgrade trade infrastructure, and expand market access through technology and institutional coordination. Separately, the IMF said it has reached a draft agreement with Egypt on program reviews that could unlock about $1.6 billion in funds.

Masdar: The Abu Dhabi renewable energy company, which is owned by Mubadala, ADNOC and TAQA, broke ground on a $1.4 billion wind farm in Kazakhstan.

ADNOC: XRG, ADNOC’s international investment arm, has agreed to acquire a 32% stake in three YPF-operated gas blocks in Argentina.

Qatar Investment Authority: American Express Global Business Travel agreed to be acquired by Long Lake Management in a $6.3 billion all-cash deal, with the backing of major shareholders that include the QIA, Expedia and BlackRock.

DP World: DP World and Lintara Properties, the real estate development platform of Arcapita Group Holdings, have broken ground on a logistics center in Dubai’s Jebel Ali Free Zone.

Dubai Holding: Dubai Residential REIT acquired 220 townhouses in Jebel Ali Village for about $243 million, expanding its income-generating portfolio with assets.

💧 Water deal: French utility Suez won a 15-year contract worth $2.3 billion to operate and maintain water and wastewater services in Oman, the company’s biggest-ever Middle East deal.

💳 Fintech push: Saudi buy-now-pay-later company Tabby secured finance licenses in the kingdom, allowing it to broaden its consumer finance offerings as it expands beyond installment payments into wider digital banking services.

🏭 Small Business: Jordan launched a $39 million German-funded program to improve financing, exports and competitiveness for small and medium-sized businesses as part of its 2026-2029 economic reform agenda.

🏦 Debt Issuance: The Arab Energy Fund plans to issue its first $1.4 billion onshore RMB-denominated Panda bonds in China by late 2026 or early 2027 Chief Financial Officer Vicky Bhatia told CNBC Arabia.

📈 Asset Growth: Assets under management in the GCC rose 10% to $2.7 trillion in 2025, driven by strong retail growth led by Saudi Arabia, according to Boston Consulting Group.

🏢 Regional Expansion: State Street, a New York-listed fund manager, has upgraded its license to a fund administration license in Saudi Arabia from the Capital Market Authority, deepening its ties to the Kingdom.

👍 Border Crossing: The UAE Foreign Ministry lifted restrictions on travel Lebanon, provided citizens register with the UAE’s Twajudi emergency service.

🏦 Bank Buyout: Emirates NBD bank is reportedly in early-stage talks to acquire HSBC’s Turkey operations as part of its broader expansion in the country, where it already owns Denizbank, Bloomberg reports.

Oman’s Sultan Haitham bin Tarik met with French President Emmanuel Macron in Paris on Monday to discuss France’s role in building a Metro rail line in Muscat and several investment projects.

Sheikh Saud bin Saqr Al Qasimi, Ruler of the northern emirate of Ras Al Khaimah, received Judha Nugraha, Ambassador of Indonesia, to the UAE in his residence in Saqr bin Mohammed City.

Saudi Crown Prince Mohammed bin Salman’s relationship with U.S. President Donald Trump is the subject of a new PBS Frontline documentary called “The Crown Prince & the President.”

Iraq’s Prime Minister Ali Al Zaidi said a wave of arrests targeting legislators, politicians and officials on corruption charges is the first phase in a campaign to fight graft and recover public funds.

Razi Almerbati was appointed CEO of Bahrain-based Khaleeji Bank. Almerbati is taking over for Abdulkarim Mohamed Alzakari, who was named acting CEO by the Islamic lender in April.

Adel Al-Jubeir, Saudi Minister of State for Foreign Affairs and Climate Envoy, met with Stephen Charles Hitchen, British Ambassador to the kingdom, in Riyadh on Monday.

⚽ Poetry play: Arab broadcasters at the World Cup are turning football commentary into an art form, using poetic Arabic and Quranic storytelling to rouse fans across the Middle East. After the record 17th World Cup goal that Argentina’s Lionel Messi scored against Austria, the Yemeni commentator Hassan al-Aidarous fell into a rapture, The Guardian reports. “Let history open its arms,” he intoned. “Let the world bear witness to this moment. Let glory be etched for ever into eternity. I do not call you Leo, I call you history itself!” 

📷 Photo of the Day

July 7-11, Sun Valley, Idaho. Allen & Co. Conference. Annual invitation-only gathering of top figures in technology, finance, media and government. Sun Valley Lodge.

July 8-9, Abu Dhabi. Money Expo Abu Dhabi. Bringing together investors, traders, fintech innovators, and financial institutions to explore the future of finance. ADNEC Center.

July 14-15, Carlisle, Pa.: Pennsylvania Defense and Innovation Summit. U.S. President Donald Trump to headline event at U.S. Army War College in Carlisle, joining defense, technology, finance and government leaders for discussions on military innovation and investment.

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

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

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

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

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

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

ARAMCO CRASH

Saudi authorities are investigating a helicopter crash at Aramco’s Ras Tanura oil refinery complex that killed all 14 people on board, making it one of the kingdom’s deadliest aviation accidents in recent years. The aircraft went down shortly after 6 a.m. on Sunday during an internal flight within the sprawling industrial complex, and the Energy Ministry said investigators have not yet determined the cause. The victims included 11 passengers and three crew members, all of them Saudi nationals. The accident occurred just days after Ras Tanura resumed crude exports for the first time in four months following disruptions during the Iran conflict.

FOOTBALL LAB

Qatar has become FIFA’s testing ground for sporting innovations, including connected match balls, AI-powered player tracking and referee body cameras, before their rollout at global soccer tournaments. Behind the scenes, stadiums in the country now function as live laboratories where new officiating and broadcast technologies are trialed under real match conditions, Wired reports. The systems are designed to answer some of football’s oldest debates, including whether the ball crossed the line, went out of play, or a player was offside, more quickly and accurately than ever before. Since 2021, and especially through events like the FIFA Arab Cup, Qatar has repeatedly hosted early-stage deployments of FIFA’s most advanced tools before they reach the global stage.

L’Imad Holding: AD Ports Group and Emirates Global Aluminium, jointly owned by Mubadala and the Investment Corporation of Dubai, will invest $22.9 million to upgrade EGA’s berth at Khalifa Port.

Mubadala: Rising concentration in equity markets is driving sovereign wealth funds to reduce listed stock exposure and shift capital into private equity, private credit, and infrastructure to finance AI-related data center and energy expansion, the Financial Times reports. Mubadala already has 59% of its assets in private equity, infrastructure and real estate, according to the FT.

Mubadala: Indonesia’s Aceh province is seeking changes to Mubadala Energy’s plan of development for its Tangkulo gas field, as it wants the gas to be processed onshore rather than on a floating facility, Upstream Online reports. 

Public Investment Fund: Blackstone-backed hyperscale data center operator AirTrunk, which is partnering on a $3 billion data center investment with PIF-owned AI company Humain in Saudi Arabia, is close to filing for a $1.5 billion IPO of a real estate investment trust in Singapore.

🏗️ Mecca Makeover: A consortium led by Umm Al Qura for Development signed $1.6 billion of framework agreements to redevelop two districts surrounding Mecca’s Masar Destination project.

🚿 Water Investment: Saudi Arabia’s water sector has attracted over $16 billion in investment as the Kingdom expands private-sector participation and water security efforts, a minister said.

🛒 Build the Mall: Saudi Arabian mall developer Cenomi Centers has awarded a $346 million design-and-build contract for the Al Khobar Downtown Mall and Boulevard in the Eastern Province to Riyadh-based Lynx Contracting.

🏘️ Falling Rents: Tenants in Dubai are finding they hold the upper hand in negotiations, with data showing that rents have eased across all housing categories, The National reports.

🏎️ Robo Racing: Abu Dhabi is taking its autonomous motor racing league to Italy’s Imola, one of Europe’s most demanding circuits, for its first international test after two seasons in Abu Dhabi.

📡 Lift Off: UAE company Orbitworks is sending its first homegrown satellite to a launch site in California, as it prepares to start selling its AI-powered technology to customers in North America and Europe, The National reports.

UAE President Sheikh Mohamed bin Zayed held a phone call with Joseph Aoun, President of Lebanon, on Saturday.

Saudi Crown Prince Mohammed bin Salman held a phone call with French President Emmanuel Macron on Sunday to discuss the latest efforts to de-escalate tensions in the region. 

Sheikh Abdullah bin Zayed, the UAE Foreign Minister, urged Iran to protect freedom of navigation through the Strait of Hormuz during a call with Iranian Foreign Minister Abbas Araghchi.

Egyptian President Abdel Fattah El-Sisi reviewed Suez Canal navigation activity and plans to expand domestic shipbuilding and the authority’s maritime fleet, urging greater localization of vessel manufacturing to meet local demand and boost exports.

Abeer Shoukry-Al Otaiba, founder and CEO of Otaiba Investments, was hired by Alpha Technology Group as Chief Strategy Officer to lead its global AI and technology expansion.

Reem Al Hashimy, the UAE Minister of State for International Cooperation, was awarded the Marisa Bellisario Award, one of Italy’s highest distinctions recognizing outstanding women leaders, at a ceremony in Rome.

🎥 Lights, Camera, Action: The ancient desert landscape of Saudi Arabia’s AlUla is set to host a wave of new film and television productions in the coming weeks, Arabian Gulf Business Insight reports. “We have the next two productions in the pipeline, and we have five or six productions within the region also looking to film in AlUla starting in the next couple of weeks,” Phillip Jones, Chief Tourism Officer at the Royal Commission for AlUla, told the news outlet. Saudi Arabia recently raised its cash rebates for film and TV production costs from 40% to as much as 60% of eligible spending, as it tries to lure international productions to the kingdom amid disruptions from the Iran war.

📷 Photo of the Day

June 29-30, Riyadh. GlobalAiShow. An event focused on generative AI, sovereign AI, and digital infrastructure. Crowne Plaza Riyadh RDC Hotel & Convention. 

July 7-11, Sun Valley, Idaho. Allen & Co. Conference. Annual invitation-only gathering of top figures in technology, finance, media and government. Sun Valley Lodge.

July 8-9, Abu Dhabi. Money Expo Abu Dhabi. Bringing together investors, traders, fintech innovators, and financial institutions to explore the future of finance. ADNEC Center.

July 14-15, Carlisle, Pa.: Pennsylvania Defense and Innovation Summit. U.S. President Donald Trump to headline event at U.S. Army War College in Carlisle, joining defense, technology, finance and government leaders for discussions on military innovation and investment.

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

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

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

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

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

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

TRUMP TAKEOFF

U.S. President Donald Trump will make his first official trip next week aboard the plane gifted by Qatar’s Emir, Sheikh Tamim bin Hamad Al Thani. Trump flies aboard the Boeing 747-8 to North Dakota on July 1 for the Theodore Roosevelt Presidential Library dedication and is then scheduled to visit Mount Rushmore on July 3 before returning to Washington for America’s 250th birthday celebrations on July 4, Bloomberg reports. The aircraft, which underwent a renovation costing hundreds of millions of dollars to make it secure enough for presidential travel, will serve as a temporary Air Force One until Boeing delivers a new presidential fleet in 2028. The Qatari gift, one of the largest ever made by a foreign government to the U.S., has sparked criticism over ethics and national security. Trump said it would be foolish to turn it down, given Boeing’s repeated delays.

BUNGA BUY

A Qatari company has agreed to purchase an infamous villa owned by the late Italian Prime Minister Silvio Berlusconi in one of Italy’s biggest-ever private real estate sales. Berlusconi’s heirs have agreed to sell Villa Certosa in the Costa Smeralda region on the island of Sardinia to Sheikh Jassim bin Hamad al Thani’s Constellation Hotels Holding for about $395 million, Reuters reports. Often used to host heads of state, billionaires and celebrities, the villa was also the setting for Berlusconi’s notorious “bunga bunga” parties, which were the subject of multiple investigations. Set on 300 acres overlooking the Mediterranean Sea, the property includes 126 rooms, an amphitheater, a rare cactus collection and a James Bond-style underground grotto for boats to dock.

ADNOC: Adnoc Drilling has activated its newest artificial intelligence-powered walking island rig. The rig is part of a $1.5 billion program awarded by Adnoc Offshore comprising six similar rigs, aimed at boosting output capacity and automation, The National reports.

Masdar: Masdar City has launched Biosphere Labs, the GCC’s first commercially scaled shared life sciences lab, in partnership with M42 and Attentive Science to provide researchers and biotech firms with access to specialized laboratory infrastructure in Abu Dhabi.

Masdar: Mohamed Jameel Al Ramahi, CEO of Masdar, met with Khamis Al Mazrouei, CEO of Sharjah National Oil Corporation, to mark one year since the inauguration of Sharjah’s first utility-scale solar plant, which was developed through Emerge, Masdar’s joint venture with French energy company EDF.

G42: Peng Xiao, CEO of Abu Dhabi-based G42, has been profiled by Block News International, in an article highlighting his leadership in positioning the company as a major force in global artificial intelligence development and infrastructure.

💰 Settlement Fund: Saudi-listed Ladun Investment Company said its consortium has signed a framework agreement to establish a $1 billion fund for a Mecca redevelopment project.

👨🏻‍🎓 Education Investment: GEMS Education, part of the Dubai-based Varkey Group, plans to invest up to $30 million over three to five years to expand in India with the addition of more than 30 schools.

🌊 Trade Corridor: The UAE and Syria have begun talks to create a logistics corridor linking Syrian ports with Iraq’s Umm Qasr Port and the UAE’s Khalifa Port.

🏙️ Business Shield: Dubai has recruited top executives from banks, airlines, hotels and major companies into a crisis task force to help preserve the emirate’s reputation as the Middle East’s safest business hub, Reuters reports.

🏢 New Bureau: Paris-based investment manager Varenne Capital Partners has opened an office in the Dubai International Financial Centre, marking its expansion into the UAE.

💺 Winged Seat: A viral video posted by Dubai-based artist Naya Rajji shows a new Emirates economy seat with a winged headrest that unfolds for extra comfort and privacy. 

UAE President Sheikh Mohamed bin Zayed met with Asaad Al-Shaibani, Syria’s Minister of Foreign Affairs and Expatriates, in Abu Dhabi on Thursday.

Sheikh Mohamed sent a message of congratulations to Emir of Qatar Sheikh Tamim bin Hamad Al Thani today, on the anniversary of his accession to power. Dubai Ruler Sheikh Mohammed bin Rashid, UAE Vice President and Prime Minister, and Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, also sent similar messages.

Dubai Crown Prince Sheikh Hamdan bin Mohammed, UAE Deputy Prime Minister and Minister of Defense and Chairman of the Executive Council of Dubai, approved a new package of Dubai Municipality development projects on Thursday.

Georgios Donis, coach of Saudi Arabia’s national soccer team, said guiding his players in the FIFA World Cup just a month after starting the job has been challenging. “You cannot go to training and just ‌press ⁠a button and have the team play the way the coach wants to play,” Donis told reporters on Thursday. “It takes time.”

Raja Agrawal was appointed Vice President for the Middle East and Africa at Nebius, an AI cloud company listed on Nasdaq and headquartered in Amsterdam.

Mohammed Al-Jadaan, Saudi Arabia’s Minister of Finance, called for stronger global partnerships at the OPEC Fund for International Development Forum this week in Vienna.  

🎭 Arts Launch: Abu Dhabi is planning a major new addition to Saadiyat Island’s cultural district with the announcement of a performing arts center designed by the late Frank Gehry. Dar Al Funoon Abu Dhabi, meaning “house of the arts,” is expected to open in 2030 and will feature a multipurpose performance hall with more than 2,000 seats and an orchestra pit capable of holding up to 120 musicians, The National reports. It will also include a 3,500-seat outdoor amphitheater and a smaller studio theater and a 250-seat jazz venue for more intimate performances. Gehry, the famed architect who died in December aged 96, also designed Guggenheim Abu Dhabi, which is due to open later this year.

📷 Photo of the Day

June 29-30, Riyadh. GlobalAiShow. An event focused on generative AI, sovereign AI, and digital infrastructure. Crowne Plaza Riyadh RDC Hotel & Convention. 

July 7-11, Sun Valley, Idaho. Allen & Co. Conference. Annual invitation-only gathering of top figures in technology, finance, media and government. Sun Valley Lodge.

July 8-9, Abu Dhabi. Money Expo Abu Dhabi. Bringing together investors, traders, fintech innovators, and financial institutions to explore the future of finance. ADNEC Center.

July 14-15, Carlisle, Pa.: Pennsylvania Defense and Innovation Summit. U.S. President Donald Trump to headline event at U.S. Army War College in Carlisle, joining defense, technology, finance and government leaders for discussions on military innovation and investment.

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

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

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

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

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

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