SHIP SHAPE

Abu Dhabi’s national oil company ADNOC is spending $1.3 billion to bolster its fleet of tankers as it continues to ramp up Gulf exports despite threats to shipping in the Strait of Hormuz. ADNOC Logistics & Services bought six very large crude carriers, almost doubling its current fleet of eight, as well as five very large gas carriers. ADNOC has been using tactics including shipping under darkness with transponders switched off and military escorts to shuttle crude and other refined products out of the Gulf. Using its own vessels gives the company greater freedom to make these riskier voyages, as it takes a more assertive and expansive stance following its departure from OPEC. The UAE has also been increasing oil shipments from the eastern emirate of Fujairah, which sits outside the Strait, via a cross-country pipeline. ADNOC L&S will take delivery of the vessels this quarter.

TALL ORDER

The construction of Jeddah Tower has topped 100 floors, with planned completion on track for 2028, according to Saudi Arabia’s Kingdom Holding Co. The tower, which is designed to surpass Dubai’s Burj Khalifa as the world’s tallest building, has reached level 106, or about 430 meters. The project will feature luxury residences, offices, a hotel and the highest observation deck in a skyscraper. Kingdom Holding, which is controlled by Saudi billionaire Prince Alwaleed bin Talal, gave the update while reporting first-half earnings. The company reported a 38% decline year-on-year in first-half net profit to $160 million, citing lower dividend income, higher costs and increased taxes. Net asset value rose 15% driven by a 62% increase in the value of the company’s stake in SpaceX following its IPO on the Nasdaq. 

DP World: DP World has agreed to acquire six U.K. grocery logistics sites from GXO Logistics, expanding its European footprint and strengthening its end-to-end supply chain services.

QatarEnergy: ConocoPhillips said delays to its Qatar LNG project – in which it is a partner with QatarEnergy – are expected to last months rather than a year, with no impact on free cash flow anticipated despite disruptions caused by the U.S.-Iran war.

Public Investment Fund: The U.K.’s antitrust watchdog has given the all-clear to Paramount Skydance’s Gulf-backed $110 billion merger with Warner Bros. Discovery, saying the takeover doesn’t raise any competition concerns in Britain. The PIF, the Qatar Investment Authority and Abu Dhabi’s L’Imad Holding are all backing the deal, which faces legal challenges in the U.S.

⚽ Sponsorship Deal: Arsenal has extended its long-running partnership with Emirates until 2033, with the airline continuing as the soccer club’s shirt sponsor, training kit partner and stadium naming rights holder.

🌙 Faithful Finance: Global Islamic finance assets are expected to reach $9.6 trillion by 2030, up from $6.2 trillion in 2025, according to Standard Chartered.

📦 Top Export: Egypt’s exports to China have jumped in recent months to $8 billion, driven by investment inflows from Chinese companies into industrial projects.

🔴 No Entry: Iran is reportedly seeking to restrict U.S. and Israeli vessels from transiting the Strait of Hormuz under a proposed deal with Oman, potentially complicating efforts to restore normal energy flows, Bloomberg reports.

✈️ Flying Back: Etihad Airways and Qatar Airways will resume daily flights to Bahrain and Kuwait from Aug. 8, with Qatar also restoring service to Erbil after weeks of disruption due to regional tensions.

💰 Seeking Alternatives: Saudi property developers are increasingly using private real estate funds to finance new projects, as regulatory reforms and Vision 2030 drive demand for alternative funding.

💼 Power Team: Forbes has released its annual Top 100 CEOs list for the Middle East, highlighting the executives driving growth, innovation and transformation across the region’s most influential organizations.

UAE President Sheikh Mohamed bin Zayed and UAE Vice President and Ruler of Dubai Sheikh Mohmed bin Rashid were seen meeting in London on an unofficial visit.

Saudi Crown Prince Mohamed bin Salman held a phone call with French President Emmanuel Macron on Thursday.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, toured Abu Dhabi’s  floating hospital on Thursday.

Ahmed Alkhoshaibi, CEO of Sharjah-based developer Arada, told Arabian Gulf Business Insight that supply chain disruptions, construction delays and lower-margin acquisitions weighed on first-half performance, but the company expects sales to recover in the second half.

Davis Parakal, CEO of money transfer company Remitly for the GCC, told Arabian Gulf Business Insight that the company  plans to launch in Saudi Arabia within a year.

Khaled Alshamlan, CEO of Kuwait Finance House, said in an interview with Forbes Middle East that the group has strengthened its position as a global Islamic finance leader, with the sector’s assets surpassing $4.4 trillion in 2025, while KFH drives growth through its dominant market share, expanding sukuk portfolio and international investment strategy.

Feras Al Jarmani has been appointed to lead HSBC Private Bank’s UAE Market.

🎨 Hidden Treasure: The son of pioneering Saudi artist Abdulsattar Al-Mussa has unearthed a previously unknown artwork by his late father hidden in storage, Arab News reports. The painting, believed to date back to 1979, features a woman washing another woman’s feet. One of the most significant Gulf artists of his generation, Al-Mussa was known for figurative work focusing on the daily lives of Saudi people. The painting was created in Moscow, where the artist trained and lived for much of his life. “My mom actually remembers the painting, because she saw him working on it. But then it disappeared and he never talked about it, and we never saw it. I don’t know why,” his son Ali Al-Mussa said. 

📷 Photo of the Day

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

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

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference 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. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

Sept. 1-3, Doha. Qatar Event Show. Brings together the events industry through a three-day program featuring exhibitions, conferences, workshops and networking opportunities. Doha Exhibition & Convention Center.

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 Centre.  

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

Sept. 14-18, Dubai. Arabian Travel Market. The flagship global travel trade show, which was postponed in May, returns, bringing 55,000+ travel professionals, 2,800+ exhibitors and representatives from 166 countries. Dubai World Trade Centre.

Sept. 15-17, Dubai. Arab Media Forum. The region’s largest media gathering, organized by the Dubai Press Club. Dubai World Trade Centre.

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

Sept. 20, New York. Qatar Economic Forum, Powered by Bloomberg: UNGA Special Edition 2026. The forum will host a special leadership gathering alongside the 2026 UNGA in New York, bringing together global leaders to explore capital, risk and resilience in a volatile global economy.

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

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. 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. 21-24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center. 

STRAIT GAINS

ADNOC has managed to move more oil through the Strait of Hormuz over the past two months than any other producer. Abu Dhabi’s national oil company has been using tactics including switching off transponders to make ships less detectable as they pass through the narrow passage to exit the Gulf. ADNOC was the only Middle Eastern producer to reach pre-war levels of seaborne exports in June and July, according to estimates from Vortexa, Bloomberg reports. It comes as Iran said a deal negotiated with Oman for proposed shipping lanes was in the final stages, raising hopes that an agreement to open the Strait will come within days. Brent is trading near $80 a barrel, switching between modest gains and losses as traders await an update.

SAUDI OFFICE MARKET

Saudi Arabia’s pressure on foreign companies to host their regional headquarters in the kingdom has helped drive up its office market even amid the regional conflict. Riyadh office occupancy reached 97% in Q2 as multinational companies continued relocating under the policy. Prime office rents rose 3% year-on-year, held back only by a rental freeze, driven by strong demand from technology and healthcare firms and a shortage of high-quality space. In contrast, the residential market weakened, with transaction volumes down 14% and total traded value falling by around a quarter as higher borrowing costs weighed on buyers. Real estate investment consultancy CBRE said the divergence reflects a maturing market adjustment rather than a downturn, with planned new supply expected to reshape the balance over time.

International Holding Company: IHC reported a 220% jump in second-quarter profit to $3.5 billion, driven by higher energy and mining revenue, as quarterly revenue rose 34% to Dh33.4 billion.

Kuwait Investment Authority: The KIA has secured a $4.25 billion three-year syndicated loan from 14 banks, marking a rare regional financing deal since the Iran conflict disrupted lending markets.

ADNOC: The Abu Dhabi national oil company has hired Morgan Stanley’s global Co-Head of Energy Michael O’Dwyer as Chief Investment Officer, Reuters reports.

L’Imad Holding: ADNEC Group, a part of L’Imad-owned Modon Holding, has received 13 awards at the 2026 Middle East & North Africa Stevie Awards for event management and services.

🏢 Trump Tower Dubai: London-listed Dar Global has awarded the construction contract for the podium for Dubai’s future Trump Tower to Gulf Asia Contracting, marking the project’s transition into the next stage of construction.

✈️ Expansion Plans: Egypt plans to expand Cairo International Airport’s capacity by 40 million to 70 million passengers with a new $3.5 billion fourth terminal.

🛎️ Distress Sales: Dubai’s tourism slowdown caused by the regional conflict could trigger distressed hotel sales by year-end as debt-laden owners come under pressure, Arabian Gulf Business Insight reports. 

🛫 Gate Open: Syria reopened Deir Ezzor International Airport on Wednesday, restoring civilian air links to the country’s east after more than a decade of closure, The National reports.

💼 Job Test: Hiring regained momentum in the UAE in July following the sharp slowdown triggered by the Iran conflict, but experts say the real test will be how many expatriate workers return after the summer holidays.

🪁 Wind Win: King Fahd Industrial Port in Yanbu has received one of its largest-ever shipments of wind energy equipment as Saudi Arabia expands its renewable energy sector, Arab News reports.

🦐 Shrimp Farm: Construction of one of Oman’s largest aquaculture projects – a shrimp farming project in the Shinas province – is 80% complete.

UAE President Sheikh Mohamed bin Zayed held a phone call with Canada’s Prime Minister Mark Carney on Wednesday.

King of Bahrain Hamad bin Isa Al Khalifa met with Egyptian President Abdel Fattah El-Sisi in Alamein on Wednesday.

Sheikh Shakhboot bin Nahyan, UAE Minister of State, received Dr. Mamadou Tangara, High Representative of the African Union Commission for Mali and the Sahel, at the headquarters of the Ministry of Foreign Affairs in Abu Dhabi on Wednesday.

Prince Faisal bin Farhan, Saudi Arabia’s Minister of Foreign Affairs, met with Fuad Hussein, Iraq’s Minister of Foreign Affairs, in Jordan.

Fabio Piano was appointed Vice Chancellor and CEO of NYU Abu Dhabi, effective immediately.

Dr. Ahmad Belhoul Al Falasi, UAE Minister of Sports, led the UAE delegation to attend the opening ceremony of Games of the Future 2026, hosted in the Kazakh capital, Astana.

Abdulla Mubarak Saeed has been appointed Chairman of Abu Dhabi Heritage Authority.

🏰 Top Palace: Abu Dhabi’s Qasr Al Watan, the palace which serves as the formal offices of UAE President Sheikh Mohamed bin Zayed, has been named among the world’s Top 100 Global Attractions and Experiences for 2026 by Trip dot com. The palace, which opened to the public in 2019, houses the Great Hall, an immense room decorated with Arabian architectural details and featuring a 37-meter-wide central dome. Visitors can also see the Spirit of Collaboration chamber, a meeting room adorned with an ornate chandelier made from 350,000 pieces of crystal, and the Qasr Al Watan Library, which houses more than 50,000 books and other works.

📷 Photo of the Day

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

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

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference 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. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

Sept. 1-3, Doha. Qatar Event Show. Brings together the events industry through a three-day program featuring exhibitions, conferences, workshops and networking opportunities. Doha Exhibition & Convention Center.

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 Centre.  

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

Sept. 14-18, Dubai. Arabian Travel Market. The flagship global travel trade show, which was postponed in May, returns, bringing 55,000+ travel professionals, 2,800+ exhibitors and representatives from 166 countries. Dubai World Trade Centre.

Sept. 15-17, Dubai. Arab Media Forum. The region’s largest media gathering, organized by the Dubai Press Club. Dubai World Trade Centre.

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

Sept. 20, New York. Qatar Economic Forum, Powered by Bloomberg: UNGA Special Edition 2026. The forum will host a special leadership gathering alongside the 2026 UNGA in New York, bringing together global leaders to explore capital, risk and resilience in a volatile global economy.

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

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. 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. 21-24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center. 

CASINO TOWN

Wynn Resorts said its first Middle East casino will open in September 2027, after construction delays linked to the U.S.-Iran conflict pushed back the timeline. The cost of the project, located on Al Marjan Island in Ras Al-Khaimah, has risen by $600 million to $5.7 billion due to higher material and shipping expenses. CEO Craig Billings said during a company briefing that the company remains confident in the UAE’s ability to manage geopolitical risks, citing the resilience of Dubai’s aviation sector, Bloomberg reports. The resort will feature 22 restaurants, an events center, private prayer rooms and a grand ballroom, joining a broader wave of entertainment developments in the region.

ROBOT ROUND

Dubai-based Moove has closed a $250 million investment round led by Abu Dhabi’s Mubadala, valuing the fleet management startup at $2.1 billion, as it pivots towards servicing self-driving cars. Moove, which has partnerships with Uber Technologies and Google-owned Waymo, is planning to expand its network of “Nests,” where autonomous vehicles are charged, serviced and maintained, largely by other robots. The Series C funding round was co-led by Toyota’s Growth Fund Woven Capital and Ion Pacific. Moove, which started out providing car financing for drivers on ride-hailing apps, was founded in Nigeria in 2020 before expanding to the UAE, India, the U.S. and the UK. The funds will also be used to launch Moove in new markets.

Saudi Aramco: The world’s biggest oil company is exploring ways to expand its export capacity amid attacks from Iran and Yemen, including a possible expansion of its East-West pipeline to the Red Sea port of Yanbu, Bloomberg reports.

Abu Dhabi Investment Authority: Shares in Indian hospital group Manipal Health Enterprises rose 11% in their Mumbai debut on Wednesday following the company’s $960 million initial public offering, in which ADIA took a 4.8% anchor stake.

Public Investment Fund: Electronic Arts has completed its $55 billion acquisition by a consortium comprising Saudi Arabia’s PIF, Silver Lake and Jared Kushner’s Affinity Partners, marking a new chapter for the gaming company under private ownership.

Public Investment Fund: A U.S. federal judge in California has scheduled a 12-day trial to start on March 2 to hear cases against Paramount Skydance’s Gulf-backed $110 billion takeover of Warner Bros. 

Lucid Group: The struggling PIF-backed electric vehicle maker is planning to cut expenses and come up with $1.4 billion in cash savings this year, new CEO Silvio Napoli tells Bloomberg.

🏀 Staying Away: The NBA has decided not to hold preseason games in the Middle East for the first time in five years, with plans in Abu Dhabi shelved because of the ongoing Iran war, ESPN reports.

⛽ Oil Output: OPEC crude production rose by 1.16 million barrels a day in July to 19.44 million barrels a day, led by Saudi Arabia, Kuwait and Iraq, though output remains below pre-war levels due to ongoing shipping disruptions linked to the Iran conflict, Bloomberg reports.

💰 Freelance Fraud: Kuwait has suspended new single-owner business licenses as part of a wider crackdown on commercial permit abuse.

🛢️ Oil Pivot: Syria has told the U.S. it is willing to sharply reduce imports of Russian oil as part of negotiations to lift remaining American sanctions, Reuters reports.

🚆 Corridor Crunch: India’s ambitions to build an economic corridor that would carry goods by ship and rail across the Arabian Peninsula and reach the Mediterranean through Israel have been stalled by tensions between Saudi Arabia and Israel, the Financial Times reports.

🌍 Africa Push: The UAE is expanding its footprint across Africa through investments in ports, agriculture and infrastructure, the Financial Times reports.

Qatar’s Emir Sheikh Tamim bin Hamad held a phone call with U.S. President Donald Trump on Tuesday.

Saudi Crown Prince Mohammed bin Salman chaired the weekly meeting of ministers in Jeddah, in which they reiterated that dialogue is an essential part of de-escalation in the region.

Sheikha Bodour bint Sultan, Chairperson of the Sharjah Research, Technology and Innovation Park and President of the American University of Sharjah, accepted the patronage of the Magdi Yacoub Institute by Professor Sir Magdi Yacoub, Founder and Director of the Institute.

Bob Iger, the former CEO of Disney, appears along with current CEO Josh D’Amaro in a new feature-length documentary “Worldbuilders,” to be released on Disney+ on Aug. 20. The documentary, which promises to give behind-the-scenes insight into the building of Disneyland Abu Dhabi, also features filmmaker James Cameron and Marvel Studios President Kevin Feige, The National reports.

Gianni Infantino, the FIFA President, has called senior staff members to an emergency meeting in Rabat, the Moroccan capital, as he fights criticism over a now-abandoned plan to sell stakes in the World Cup.

Wassim Chourbaji was appointed Senior Vice President and President of Europe, Middle East and Africa for computing company Qualcomm.

Paul Wheeler was appointed CEO of Sapiens, succeeding Mike Ettling, as the ADIA-backed insurance software provider accelerates its AI transformation.

🎨 Guggenheim Chief: Abu Dhabi has chosen the curator who will put the finishing touches on one of the world’s most anticipated museum openings. Valerie Hillings has been named the inaugural director of Guggenheim Abu Dhabi, taking charge of the Frank Gehry-designed institution as it prepares to open on Dec. 11 in the Saadiyat Cultural District. A longtime curator who helped shape the Abu Dhabi museum’s collection and strategy, Hillings will oversee the opening exhibitions and public programs at what will be the largest museum in the Guggenheim network, The National reports.

📷 Photo of the Day

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

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

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference 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. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

Sept. 1-3, Doha. Qatar Event Show. Brings together the events industry through a three-day program featuring exhibitions, conferences, workshops and networking opportunities. Doha Exhibition & Convention Center.

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 Centre.  

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

Sept. 14-18, Dubai. Arabian Travel Market. The flagship global travel trade show, which was postponed in May, returns, bringing 55,000+ travel professionals, 2,800+ exhibitors and representatives from 166 countries. Dubai World Trade Centre.

Sept. 15-17, Dubai. Arab Media Forum. The region’s largest media gathering, organized by the Dubai Press Club. Dubai World Trade Centre.

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

Sept. 20, New York. Qatar Economic Forum, Powered by Bloomberg: UNGA Special Edition 2026. The forum will host a special leadership gathering alongside the 2026 UNGA in New York, bringing together global leaders to explore capital, risk and resilience in a volatile global economy.

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

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. 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. 21-24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center. 

ALTERNATIVE LAND

Turkey is positioning itself as a new wealth hub between Europe and the Middle East, unveiling tax incentives to attract wealthy expats and overseas investors amid instability in rival centers, from London to Dubai. The measures include reduced inheritance taxes, exemptions on overseas income for up to 20 years and an amnesty programme for undeclared foreign assets, echoing incentives previously offered by the U.K.’s non-dom regime, Bloomberg reports. The push comes as Turkey seeks to strengthen its financial credentials after years of inflation, currency volatility and political uncertainty, while Gulf hubs face renewed questions over regional security risks. Officials say Turkey aims to become a global center for investment and capital management, though analysts note it remains unclear how many wealthy individuals will choose it over established destinations in the Gulf and Europe.

WHOOP MOVE

Whoop is planning to open another office in the UAE, fresh on the back of raising $575 million in funding from investors led by Abu Dhabi’s Mubadala earlier this year. Will Ahmed, CEO of the Boston-based wearable fitness tracker company, said the move was “critical for growth” both in the GCC, as well as in Africa and Asia. “If you’re an entrepreneur like me, you’re used to going to places and being told ‘no’, and you’re used to going to places and being told, ‘well, that seems hard’. With the culture of Abu Dhabi, it’s an environment where people say ‘yes, let’s do it’ or ‘hey, how can this actually be bigger?’,” he told Mubadala’s company podcast. Whoop’s funding round in March, which was also backed by Abu Dhabi’s 2PointZero Group and the Qatar Investment Authority, valued the company at $10.1 billion.

Mubadala Capital: Brazilian company Acelen Renováveis, which is fully owned by the asset management arm of Abu Dhabi’s Mubadala, is driving a $3 billion project to make sustainable aviation fuel from the macaúba fruit, Bloomberg reports.

Masdar: Masdar has secured up to $130.5 million in financing for four U.K. battery energy storage system (BESS) projects, with a combined capacity of 205 MW/540 MWh.

Masdar: Jordan’s SEPCO and SITE Technology have signed an Engineering, Procurement and Construction contract for a 25 MW wind farm in Ma’an Governorate, fully funded by the UAE through Masdar under a cooperation agreement signed in February, with SEPCO set to operate and maintain the project after completion.

Saudi Aramco: The Saudi state oil company gained the largest commercial payoff among sponsors of the 2026 FIFA World Cup, with Brand Finance estimating it added $1.08 billion in brand value and $26.1 billion in corporate value through its sponsorship, Asharq Bloomberg reports.

DP World: DP World has signed an agreement with Kenya’s GulfCap Africa to develop the Mombasa Industrial Park Special Economic Zone.

🏗️ Mall Haul: Saudi industrial group Senaat’s construction unit Zodcon won a $62 million contract from Hamat Group for construction work on a shopping mall development in Mecca. 

🐄 Dandy Dairy: Qatari dairy and ice cream producer Dandy priced its IPO at the bottom of its marketed range, valuing the company at $141 million and raising about $56.6 million ahead of its Qatar Stock Exchange listing.

🪺 Nest Exit: Egypt’s Beltone Venture Capital has sold part of its stake in proptech startup BirdNest, realizing a 3.5 times return while maintaining a strategic investment to support the company’s future growth.

🧴 Beauty Hit: German consumer goods company Beiersdorf, the maker of Nivea skin-care products, said fighting in the Middle East has disrupted deliveries and hurt sales in Saudi Arabia and the UAE.

✈️ Canceled Trips: Emirates and Etihad have extended flight cancellations to Bahrain and Kuwait for a third consecutive week amid regional tensions.

📉 Sales Impact: Marriott said the Iran conflict weighed on second-quarter sales and warned the war could further hit travel demand and delay new hotel projects in the Middle East, the Wall Street Journal reports. 

🧑🏽 Coming Home: Dubai’s population has rebounded to 4.73 million, surpassing pre-Iran war levels, but population growth is expected to grow at just 2% this year, about half the rate of prior years.

🚢 Trapped Aboard: About two dozen crew members aboard the seized cargo ship MSC Francesca are entering their fourth month under Iranian guard off the country’s coast, with no indication of when they will be released, The New York Times reports. 

Saudi Crown Prince Mohammed bin Salman held a phone call with Turkey’s President Recep Tayyip Erdogan on Monday.

Sheikh Abdullah bin Zayed, UAE Foreign Minister, held a phone call with Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani, Qatar’s Prime Minister and Minister of Foreign Affairs, on Monday. Sheikh Abdullah also held a phone call with Dr. Abdullatif bin Rashid Al Zayani, Bahrain’s Foreign Minister, on Tuesday.

Prince Badr bin Abdullah bin Farhan, Saudi Minister of Culture, has appointed Mohammed Hasan Alwan as Acting President of Riyadh University of Arts.

Jordan Rochester, a former strategist at Japan’s Mizuho Financial Group known as “Mr. Brexit” for his commentary on the U.K.’s split from the European Union, was hired by U.S.-based Tudor Investment Corp. as a fixed-income and currency strategist based in Dubai. Bloomberg reports.

Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, met with Dr. Mohammed Nidal Al-Shaar, Syria’s Minister of Economy and Industry, to discuss ways to conduct further trade and investment.

David Ellison, CEO of Paramount Skydance, penned an opinion article published by The New York Times to “set the record straight” on the company’s Gulf-backed $110 billion merger with Warner Bros. and counter speculation about his politics, loyalties and intentions.

⭐ Billboard Hit:  Lebanese singer and actress Haifa Wehbe was selected as the face of Spotify’s Times Square billboard in New York City, Arab News reports. One of the Arab world’s most enduring pop stars, Wehbe was named Spotify’s Equal global ambassador for July. The program amplifies female artists, connecting their music with global audiences.

📷 Photo of the Day

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

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

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference 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. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

Sept. 1-3, Doha. Qatar Event Show. Brings together the events industry through a three-day program featuring exhibitions, conferences, workshops and networking opportunities. Doha Exhibition & Convention Center.

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 Centre.  

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

Sept. 15-17, Dubai. Arab Media Forum. The region’s largest media gathering, organized by the Dubai Press Club. Dubai World Trade Centre.

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

Sept.20, New York. Qatar Economic Forum, Powered by Bloomberg: UNGA Special Edition 2026. The forum will host a special leadership gathering alongside the 2026 UNGA in New York, bringing together global leaders to explore capital, risk and resilience in a volatile global economy.

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

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. 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. 21-24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center. 

MATCH POINT

Mubadala is devoting about $170 billion to U.S. interests, roughly 44% of its portfolio, spanning AI and healthcare to energy and advanced manufacturing. The strategy was at the center of discussions at a Milken Institute forum last week, held alongside the Mubadala D.C. Open, the UAE sovereign wealth fund’s annual ATP 500/WTA 500 tournament in Washington, D.C. “For Mubadala, the U.S. is our most strategic and attractive investment market,” said Ahmed Saeed Al Calily, Mubadala’s Chief Strategy & Risk Officer. Among the participants were tennis champion Venus Williams, Washington D.C. Mayor Muriel Bowser, Will Ahmed, Co-Founder and CEO of Whoop; Sen. Mike Rounds (R-South Dakota); Michael Kratsios, Director of the White House Office of Science and Technology Policy; and Richard Ditizio, CEO of the Milken Institute.

CASH CRUNCH

Aldar and other UAE developers reported higher profits in the first half of 2026, but a surge in construction and handovers is pushing companies to take on more debt. Dubai’s Binghatti and Abu Dhabi’s Modon and Aldar have increased borrowing as they shift from selling off-plan units to completing existing projects amid weaker speculative demand, Arabian Gulf Business Insight reports. Binghatti spent about $354 million more than it generated from operations, while capital tied up in developments more than tripled, and buyer escrow funds fell by $872 million as completions rose 16% to 1,669 units. Aldar and Modon also saw borrowing rise as construction commitments increased, although both said supply chains remained largely unaffected by the conflict.

Public Investment Fund: The departure of several star players from PIF-owned Newcastle United and the U.K. football club’s failure to sign others is explored in The New York Times.

ADNOC: The Abu Dhabi national oil company will switch the benchmark for pricing all of its Abu Dhabi crude grades from Murban futures to Platts Dubai beginning Nov. 1, saying the new mechanism will improve pricing transparency.

ADNOC: The complex mechanics of the company’s plans to add a massive 6.8 billion cubic feet per day to national gas output are examined in an analysis published by The National. 

🏦 Egypt Expansion: Emirates NBD will acquire HSBC Egypt’s retail banking business, resulting in a pre-tax gain of about $300 million for HSBC.

✈️ European Landing: Saudi Arabia’s SAL Logistics completed its first international acquisition, buying Belgium’s Aviapartner Liège for about $32 million and establishing an operating base in Liège, one of Europe’s busiest air cargo hubs.

🌱 Fintech Funding: UAE-based fintech Epic Markets raised $10 million in a pre-seed round from Karatage to develop a multi-asset brokerage platform for retail investors, Arab News reports.

🎮 Game On: Saudi game studio Ash Games, which is due to release its flagship title “Nomad” in 2027, raised $1.5 million in seed funding, co-led by Merak Capital and Impact46 through the Merak Gaming Fund. 

🚢 Crude Movement: Saudi Arabia’s Red Sea export hub of Yanbu appeared to record its busiest oil-loading day since Houthi threats disrupted Red Sea shipping last month, Bloomberg reports. 

🌐 Future Ready: Saudi-backed AI data centre developer DataVolt expects to secure financing for all its projects under construction in the kingdom within six months.

💰 India Plan: UAE companies and sovereign wealth funds are expected to ramp up investments in India, focusing on AI, logistics, food security and infrastructure, as the two countries target doubling bilateral trade to $200 billion by 2032.

♟️ Pawn Shop: A Dubai-based entrepreneur has reimagined pawn shops for the Gulf market, offering a service that gives clients quick cash for temporarily selling their luxury watches, with an agreement to repurchase them after 30 or 60 days.

Saudi Arabia’s Crown Prince Mohammed bin Salman spoke to U.S. President Donald Trump on Sunday and “stressed the need to prioritize dialogue to reduce escalation and the importance of making every possible effort to achieve calm that paves the way for diplomatic solutions.”

UAE President Sheikh Mohamed bin Zayed held a phone call with Ukraine’s President Volodymyr Zelenskyy on Saturday.

Bahrain’s King Hamad bin Isa Al Khalifa held a phone call on Sunday with King Abdullah II  of Jordan.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, held a phone call with Sheikh Jarrah Jaber Al-Ahmad Al-Sabah, Kuwait’s Foreign Minister, on Sunday. Sheikh Abdullah met with Ed Miliband, U.K. Secretary of State for Foreign, Commonwealth and Development Affairs, in London on Friday.

Sheikh Hamdan bin Mubarak, President of the UAE Football Association, welcomed FIFA’s decision to abandon the proposed FIFA Forward Enterprise initiative, which would have seen it sell off a stake in the World Cup.

Darren Woods, CEO of ExxonMobil, said the energy giant “won’t shy away” from the Gulf, even as it tries to diversify production outside the Middle East with investments in Mozambique and Papua New Guinea, Reuters reports.

Mike Pompeo, former CIA director and then secretary of state during U.S. President Donald Trump’s first term, told The Nationalview that the Iran conflict was a “global war” and that Gulf states would eventually join the U.S. in delivering a blow that would “fundamentally change the nature of what’s going on inside of Iran.” 

Larry Ellison, the owner of Oracle, is the subject of a New York Times Magazine feature looking into the 81-year-old billionaire’s debt-fuelled scramble to transform his company for the AI era, backed by Gulf and Chinese interests.

Dennis Jol, CEO of  Abu Dhabi-based AIQ, appeared on “Managing Middle East with Dan Murphy” to discuss how the company uses real-world data and infrastructure from oil giant ADNOC to give its AI technology an edge.

Ahmed Mohamed Janahi was appointed CEO of Bahrain Airport Company, the operator and managing body of Bahrain International Airport.

👻 Ghost Stories: The myths and folklore passed down through generations of Emiratis have been channeled into the supernatural horror series “Kaa’inaat,” which has returned for its second season, streaming on StarzPlay with English subtitles. “A common refrain we heard from our elders was, ‘Don’t go walking into the farms at night, because you will not be alone,’” Emirati actor Abdullah Bin Haider told The National of his childhood in Khor Fakkan, a coastal community in the eastern emirate of Fujairah.

📷 Photo of the Day

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

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

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference 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. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

Sept. 1-3, Doha. Qatar Event Show. Brings together the events industry through a three-day program featuring exhibitions, conferences, workshops and networking opportunities. Doha Exhibition & Convention Center.

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 Centre.  

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

Sept. 15-17, Dubai. Arab Media Forum. The region’s largest media gathering, organized by the Dubai Press Club. Dubai World Trade Centre.

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

Sept.20, New York. Qatar Economic Forum, Powered by Bloomberg: UNGA Special Edition 2026. The forum will host a special leadership gathering alongside the 2026 UNGA in New York, bringing together global leaders to explore capital, risk and resilience in a volatile global economy.

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

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. 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. 21-24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center. 

MACHINE FUNDING 

UAE-backed chipmaker GlobalFoundries will receive $300 million from the U.S. government to develop silicon photonics technology aimed at making AI data centers faster and more energy efficient. The investment, part of the Biden-era Chips Act program being redirected under President Donald Trump, will support technology that uses light instead of electrical signals to move data between chips, reducing power consumption and heat generation. Abu Dhabi sovereign wealth fund Mubadala owns about 73% of GlobalFoundries. The U.S. Department of Commerce will receive a stake of about 1% in the chipmaker under a separate agreement.

SAVING TURTLES

Oman has launched a major clean-up operation after oil spills from vessels stranded by the prolonged closure of the Strait of Hormuz polluted beaches in Musandam, threatening marine life, fishing and tourism. Dead fish have been reported in coastal waters, while fishermen in Khasab and Bukha said the spills have damaged nets, clogged boat engines and disrupted their livelihoods. Tourism operators have also cancelled beach camping bookings as oil contamination has made some areas unsafe for swimming. Oman’s Environment Authority said the spills are harming turtles, birds and coral reefs, with potentially long-term environmental impacts.

Abu Dhabi Investment Authority: ADIA has become an anchor investor in the $970 million IPO of Indian hospital group Manipal Health Enterprises, taking a 4.8% stake.

Qatar Investment Authority: The U.K.’s second-largest supermarket chain, Sainsbury’s, which the QIA owns a stake in, is planning to sell retailer Argos for at least £120 million ($161 million).

Aramco: Almar Water Solutions and Al Jomaih Energy & Water Company won a $940 million expansion contract for Saudi Aramco’s Zuluf Water Treatment Project in eastern Saudi Arabia.

ADNOC: Abu Dhabi National Oil Co. has bought five new very large crude carriers (VLCCs) for about $590 million, as part of a broader push by the UAE to control more of its supply chain, Arabian Gulf Business Insight reports. 

🏘️ Strong Sales: Abu Dhabi developer Aldar generated $408 million in sales during the launch of “The Canopies,” a six-building apartment community at Yas Point. 

🛒 Shopping Trip: Spinneys plans to increase its stake in its Saudi subsidiary, Spinneys KSA, to 70% by acquiring an additional 20% stake from Al Hokair for $4.8 million.

💰 New Contracts: Egypt has awarded the first project in its mineral-rich Golden Triangle, with Elsewedy Industrial Development set to build an industrial and logistics zone in Safaga focused on mining, manufacturing and exports.

🏗️ Shipping News: Saudi Ports Authority, known as Mawani, added Hizone Group’s China Saudi Express shipping service to Jeddah Islamic Port.

🪖 Missile Budget: The Pentagon’s $67 billion request for emergency funding includes $18.2 billion to replenish missile and interceptor stockpiles, including Patriot, THAAD and Tomahawk systems, with plans to procure more than 2,900 missiles, Bloomberg reports. 

✂️ Cutting Fees: The UAE has abolished 15 capital market fees to reduce red tape and boost economic participation, while introducing a new charge for IPO approvals.

📉 Shrinking Gap: Saudi Arabia’s second-quarter fiscal deficit narrowed by nearly 75% as higher oil prices lifted oil revenue 28%, with the IMF expecting the budget gap to continue shrinking through 2027, Bloomberg reports. 

UAE President Sheikh Mohamed bin Zayed announced scholarships for Serbian students to study science, technology and artificial intelligence at UAE universities after talks with Serbian President Aleksandar Vučić in Belgrade. Sheikh Mohamed held a phone call with Syria’s President Ahmed Al-Sharaa on Friday.

Saudi Crown Prince Mohammed bin Salman held separate phone calls on Friday with Bahrain’s King Hamad bin Isa Al-Khalifa and Syria’s President Ahmed al-Sharaa.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, visited the pavilions of the UAE Cyber Security Council and Abu Dhabi Police during his tour of the Sheikh Zayed Summer Festival on Thursday.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, held separate calls with Ayman Safadi, Jordan’s Deputy Prime Minister and Minister of Foreign Affairs, and Dr. Badr Abdelatty, Egypt’s Minister of Foreign Affairs, International Cooperation, and Egyptian Expatriates, on Thursday.

Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC, met with Paolo Zampolli, Special Representative for Global Partnerships of the U.S. 

Mohamed Alabbar, Emirati Billionaire and Chairman of Emaar Properties, joined the UAE President on his trip to Serbia. 

Dr. Ahmed Naser Al-Raisi, former President of INTERPOL, has been appointed as Chairman of Alif Holding, an Abu Dhabi-headquartered intelligent industrial technology group. 

Karim Badawi, Egypt’s Petroleum Minister, said that the country has four Floating Storage Regasification Units, along with a fifth vessel docked in Jordan’s Aqaba port that the two countries share as an alternative source to cover its energy demands after a drone attack on Wednesday.

Augie Fabela, CEO of Veon, told The National that “AI is pumping oxygen into the room, giving us more energy, giving us more focus, because it truly is at the center of our future growth.” 

⛏️ New Digs: Researchers studying one of the UAE’s most important archaeological sites have found what appears to be underground structures from the pre-Islamic era using radar technology. Analysis of Al Sinniyah Island in Umm Al Quwain is helping to shed light on the settlement, which is known to have hosted a monastery and the oldest pearling town in the Gulf, The National reports.

📷 Photo of the Day

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

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

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference 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. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

Sept. 1-3, Doha. Qatar Event Show. Brings together the events industry through a three-day program featuring exhibitions, conferences, workshops and networking opportunities. Doha Exhibition & Convention Center.

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 Centre.  

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

Sept. 15-17, Dubai. Arab Media Forum. The region’s largest media gathering, organized by the Dubai Press Club. Dubai World Trade Centre.

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

Sept.20, New York. Qatar Economic Forum, Powered by Bloomberg: UNGA Special Edition 2026. The forum will host a special leadership gathering alongside the 2026 UNGA in New York, bringing together global leaders to explore capital, risk and resilience in a volatile global economy.

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

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. 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. 21-24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center. 

OLYMPICS TORCHED

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

AIRPORT EXPANSION

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Nov. 17-19. Doha. Qatar Entrepreneurship Conference (ROWAD). Qatar’s national entrepreneurship platform and a flagship Global Entrepreneurship Week event, connecting startups, SMEs, and ecosystem leaders. Doha Exhibition & Convention Center.

Nov. 17-21, Dubai. Dubai Airshow 2025. The biennial exhibition attracts aerospace companies from around the world to the UAE. DWC, Al Maktoum International Airport.

Nov. 25-26. Riyadh. Global Sustainability Expo. Dedicated to advancing sustainability practices across industries. The Arena Riyadh.

Nov. 26-27, Abu Dhabi. CyberQ 2025. The UAE’s flagship summit for cybersecurity and quantum technologies. ADNEC Center.

Dec. 8-9, Riyadh. Hydrogen Arabia Summit & Exhibition. The inaugural event is aimed at positioning the Kingdom as a hub for hydrogen and clean energy collaboration. Crowne Plaza Riyadh RDC.

Dec. 8-9, Abu Dhabi. Bitcoin MENA 2025. An event dedicated to advancing Bitcoin and blockchain understanding and adoption. ADNEC Center.

Dec. 8-10, Abu Dhabi. BRIDGE Summit. Bringing together media executives, innovators, academia and NGOs, policymakers, and thought leaders to redefine the media landscape. ADNEC Center.

CHIP DRIVE

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

OPEN DOORS

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Nov. 17-21, Dubai. Dubai Airshow 2025. The biennial exhibition attracts aerospace companies from around the world to the UAE. DWC, Al Maktoum International Airport.

Dec 8-9, Riyadh. Hydrogen Arabia Summit & Exhibition. The inaugural event is aimed at positioning the Kingdom as a hub for hydrogen and clean energy collaboration. Crowne Plaza Riyadh RDC.

DAMASCUS MOMENT

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

WAGE WOES

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Nov. 17-21, Dubai. Dubai Airshow 2025. The biennial exhibition attracts aerospace companies from around the world to the UAE. DWC, Al Maktoum International Airport.

Dec 8-9, Riyadh. Hydrogen Arabia Summit & Exhibition. The inaugural event is aimed at positioning the Kingdom as a hub for hydrogen and clean energy collaboration. Crowne Plaza Riyadh RDC.