SHIPPING CHIPS

The UAE will soon get its hands on the advanced American chips that underpin its AI ambitions, after the U.S. issued the export permits required for Nvidia to start shipping billions of dollars worth of the critical technology to the emirates. The approval came after the UAE made concrete plans for reciprocal investment in the U.S., the main condition of the chip deal made after Donald Trump’s visit in May, Bloomberg reports. The permits are a top priority for the UAE, which pledged to invest $1.4 trillion in the U.S. over 10 years, matched dollar-for-dollar against what it receives in chip shipments. The U.S. agreed to approve up to 500,000 of the AI chips annually, with a large number reserved for Abu Dhabi AI powerhouse G42, which is partnering with OpenAI to build a massive Stargate AI campus in the UAE capital.

KINGDOM FOR A HOUSE

Saudi Arabia is hoping that dramatic moves to curb its property crunch, including a five-year freeze on rents, will help it to compete with Dubai and Abu Dhabi for key foreign talent. Crown Prince Mohammed bin Salman, who last month vowed to stop the “unacceptable” rise in property prices during a rare address, has begun “throwing the kitchen sink” at the problem, Bloomberg reports. On top of the rent freeze, the kingdom has implemented a tax regime imposing a hefty penalty for anyone with more than 5,000 square meters of undeveloped land, in an attempt to stop investors hoarding property for capital gains. Apartment prices in Riyadh have almost doubled over the past five years, while rent for a basic two-bedroom apartment in an expat-friendly compound ranges from $4,000 to $6,000 a month.

Mubadala: The Abu Dhabi sovereign wealth fund’s Mamoura Diversified Global Holding unit has begun investor discussions for a 10-year U.S. dollar benchmark bond under its Global Medium Term Note Program. 

Mubadala: Cleveland Clinic Abu Dhabi announced plans to build the UAE’s first hospital-based vertiport, designed to facilitate air ambulance and emergency medical transport.

ADNOC: Subsidiaries of Abu Dhabi National Oil Co. plan to distribute a combined $43 billion in dividends by 2030, Reuters reports.

Aramco: The Saudi energy giant bought an additional 22.5% stake in Petro Rabigh, a refining and petrochemical company based in Rabigh, Saudi Arabia, from Sumitomo Chemical for $702 million, increasing its ownership to 60%.

Qatar Investment Authority: QNB Group received the approval of the Central Bank of Egypt to launch ezbank, a digital-first bank, three days after it obtained a license to operate in Saudi Arabia.

Public Investment Fund: Diriyah Company has awarded a $244 million contract to a joint venture between Al-Majal El-Arabi Group and MAN Enterprise AlSaudia to develop the Grand Mosque in the second phase of the Diriyah mega project.

💰 Expanding Course: Saudi Arabia plans to invest $292 million in Senegal, including a 300 MW solar-powered desalination project.

🏡 Helping Locals: Oman launched seven community projects worth $1.8 billion, adding 12,000 homes and 9,000 land plots for citizens to build subsidized housing over the next three years.

⛰️ Wellness Care: Oman-based developer Musstir partnered with the Ministry of Housing and Urban Planning to develop a $520 million “Wellness Village” within the $3 billion Al Jabal Al Aali project in Jabal Al Akhdar.

🌊 Blue Bond: First Abu Dhabi Bank issued its second $20 million, three-year Blue Bond to finance ocean and water projects.

💵 Investment Accord: Saudi Arabia and Morocco signed an agreement in Rabat to promote and protect mutual investments.

🟢 Green Light: Dubai’s Department of Economy and Tourism launched a freezone mainland operating permit enabling freezone firms to operate in mainland Dubai.

📈 Foreigners Welcomed: Saudi Arabia’s Capital Market Authority has proposed creating simplified investment funds with lighter regulations to boost the asset management sector, attract foreign investors and expand investment opportunities.

💻 Next Year: Dubai announced that GITEX GLOBAL and Expand North Star will move to Expo City Dubai and take place from December 7–11 2026, aligning with the tourist season in an experience with city-wide lifestyle activities.

⛰️ Davos Decline: The future of the World Economic Forum and its scandal-battered Swiss organizers may depend on the success of next year’s summit, insiders have told the Financial Times. 

UAE President Sheikh Mohamed bin Zayed traveled to Kuwait, where he was met at the airport by Emir of Kuwait Sheikh Meshal.

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

Sheikh Humaid bin Rashid, Ruler of the northern emirate of Ajman, met with Sultan bin Abdullah Al Anqari, Saudi Arabia’s Ambassador to the UAE, at the Emiri Court on Thursday.

Omar Yaghi, a U.C. Berkeley professor and Palestinian citizen of Jordan and Saudi Arabia, won the Nobel Prize in Chemistry with Susumu Kitagawa of Kyoto University and the University of Melbourne’s Richard Robson.

James Martin was appointed Chief Growth Officer and Kevin O’Reilly was appointed Head of Commodities at the Gulf Mercantile Exchange.

Dr. Thani Al Zeyoudi, UAE Minister of Foreign Trade, joined Shadi Malak, CEO of Etihad Rail, for a pre-launch journey on the company’s passenger service, which is due to start commercial operations in 2026.

🎭 Culture Vulture: Saudi Arabia is drawing stars from music, sports and entertainment as part of a drive to open up the kingdom to international culture. Exploring the phenomenon amid the current Riyadh Comedy Festival, the Financial Times notes that pop icons like Christina Aguilera, Mariah Carey and BTS have performed for Saudi audiences, while soccer legend Cristiano Ronaldo plays for Saudi Arabia’s Al Nassr. Officials deny charges of “sportswashing,” saying investments in culture and sports are meant to spur economic growth and create opportunities for the country’s youthful population.

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 12-15, Dubai. Expand NorthStar. An annual startup and investor event in Dubai that connects founders, the corporate sector and VCs across tracks like climate tech, deep tech, fintech, and innovation. Dubai Harbour.

Oct. 13-17, Dubai. GITEX Global. The giant tech and startup show is back for its 45th edition, bringing together government and industry leaders., innovators and government. Dubai World Trade Center.

Oct. 14-16, Dubai. Global Future Council. The event on the Future of Growth convenes senior economists and thought leaders from across academia, business, government and civil society to provide intellectual guidance on new approaches to growth. 

Oct. 15-18, Sharjah. Evolve Future Mobility Show. Shaping the future of the electric vehicle industry in the region. Sharjah Expo Center.

Oct. 21-23, Dubai. Healthcare Future Summit. The summit explores the evolving landscape of vaccine innovation and global disease control. Dubai World Trade Center. 

Oct. 22, Abu Dhabi. Reuters NEXT Gulf Summit. Hosting critical conversations with world leaders, innovators and market movers to define the Middle East’s next chapter. St Regis Saadiyat.

Oct. 22, Dubai. S&P Global Ratings 15th Annual Islamic Finance Conference. An in-depth look at the global Islamic finance landscape. DIFC Atrium. 

Oct. 22-24, Sharjah. World Investment Conference & Sharjah Investment Forum. A global investment summit exploring foreign direct investment, policies and collaboration for resilient and sustainable growth. Al Jawaher Reception and Convention Centre.

Oct. 27, Dubai. The UAE Africa Tourism Investment Summit. Hosted by the UAE Ministry of Economy and Tourism as part of Future Hospitality Summit World 2025 to foster investment and strengthen tourism partnerships between the UAE and African nations. Madinat Jumeirah.

Oct. 27-28, Jeddah. Sustainable Coastal Development Forum. Exploring strategic solutions for developing eco-friendly coastal communities. Hilton Jeddah.

Oct. 27-29, Dubai. Future Hospitality Summit. Connecting global investment opportunities and projects to hospitality decision-makers. Madinat Jumeirah. 

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.

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.

ELECTRIC MUSTANG

Ford Motor Co. plans to launch an electric version of its venerable Mustang sports car in Saudi Arabia next month. The American manufacturer will start by offering between 500 to 1,000 Mustang Mach-E cars for sale as it tests demand, Arab News reports. The move comes amid a 16% increase in Saudi auto sales since the beginning of 2025 compared with the same period last year. The decision places Ford in direct competition with other EV and hybrid players already active or expanding in the Kingdom, such as PIF-backed Lucid, Chinese firm BYD and the local startup Ceer. Ford said it also intends to introduce a new hybrid model, the Territory, to broaden its Saudi product mix.

TURNING POINT

Global output from renewable energy sources overtook coal in the first half of 2025 and outpaced growth in global electricity demand for the first time, according to a report from energy think tank Ember. Renewables including solar and wind supplied 5,072 terawatt hours of electricity globally during the period, while coal accounted for 4,896 TWh. Largely driven by rapid growth in China and India, renewables are now growing fast enough to meet rising global appetite for electricity, even as the power-hungry data centers that underpin the AI boom further spike demand. “We are seeing the first signs of a crucial turning point,” Małgorzata Wiatros-Motyka, senior electricity analyst at Ember, said.

Altérra: UAE-backed climate investment fund Altérra said it has invested $2 billion in Canada’s Brookfield Asset Management’s $20 billion Global Transition Fund II, which targets assets such as nuclear energy and carbon capture storage.

PureHealth: The ADQ-backed company and biggest healthcare group in the Middle East, completed the $938 million acquisition of a 60% stake in Athens-based Hellenic Healthcare.

ADQ: The Abu Dhabi sovereign wealth fund raised the value of its upcoming $4 billion loan offering to $5 billion, based on demand from at least 33 banks. Meanwhile, Sheikh Tahnoon bin Zayed, UAE National Security Adviser and Deputy Ruler of Abu Dhabi, chaired a board meeting of ADQ on Wednesday.

Mubadala: Abu Dhabi Catalyst Partners, an asset manager backed by the Abu Dhabi sovereign wealth fund, joined as an anchor investor in Janus Henderson’s $300 million Islamic-compliant MENA Private Credit Fund IV.

International Holding Co.: Multiply Group, an Abu Dhabi-based global investment company, plans to acquire a 60.8% majority stake in Italian luxury packaging company ISEM, which makes boxes and dustbags for clients including LVMH and Gucci.

Oman Investment Authority: OQ, Oman’s state-owned commodity trading company, said it plans to expand its liquefied natural gas business domestically and internationally, aiming to make LNG a central part of its portfolio.

📈 Growth Upgrade: The World Bank raised Saudi Arabia’s 2025 growth forecast to 3.2%, up from 2.8% projected in April, citing higher oil production and robust non-oil sector activity.

🚚 Cold Storage: DP World will invest $29 million to build a cold storage facility in Egypt’s Al Oula Industrial City after acquiring land in Elsewedy Industrial Development Park.

💰 United Front: Saudi developers Majd Investment, Sumou Global Investment and Dubai-based Strategic Housing Group have formed a $533 million joint venture to develop co-living spaces for professionals and students in the kingdom.

💲 Energy Boost: The International Islamic Trade Finance Corp. signed a $90 million syndicated deal with Djibouti to fund refined petroleum imports and strengthen the country’s energy security.

🦅 Top Bird: A prized Mongolian falcon sold for a record $173,276 at the 2025 International Saudi Falcons and Hunting Exhibition.

🏭 Aluminum Interest: Emirates Global Aluminium is exploring a potential bid to acquire Brazilian aluminum producer Companhia Brasileira de Alumínio.

🚢 Cargo Buildup: Saudi ports handled 22.5 million tonnes of cargo in September, up 8.6% year-on-year, according to the Saudi Ports Authority, Mawani.

🛢️ Iraq Return: ExxonMobil is in talks to re-enter Iraq by signing agreements with Basra Oil Co. and SOMO, Iraq’s oil marketing company, to explore the Majnoon field and develop export and marketing projects in the country’s south, Bloomberg reports.

✈️ No Entry: The 2025 Dubai Airshow has withdrawn the registrations of six Israeli defense firms that were preparing to take part in the Nov. 17-21 event, The Times of Israel reports.

Pope Leo XIV is scheduled to visit Lebanon and Turkey in November, marking his first official trip abroad since assuming the papacy in May.

UAE President Sheikh Mohamed bin Zayed held a meeting with Humaid bin Harmal Al Shamsi, President of the Emirates Oncology Society and CEO of the Burjeel Cancer Institute, at the Qasr Al Bahr palace in Abu Dhabi on Tuesday. He also reviewed the design of the new Al Jazira Club Stadium, which will be located in Zayed City.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, UAE Minister of Defense and Deputy Prime Minister, and Chairman of Dubai’s Executive Council, met with Ben Lamm, Co-Founder and CEO of Colossal Biosciences, a U.S.-based genetic engineering company dedicated to the “de-extinction” of animal species, including the Woolly Mammoth.

Emir of Kuwait Sheikh Meshal met with Goldman Sachs CEO David Solomon on Monday to discuss bolstering investment and economic modernization.

Egypt’s President Abdel Fattah El-Sisi and French President Emmanuel Macron held a phone call on Tuesday in which they agreed to continue close consultations on Gaza.

Nik Storonsky, CEO and co-founder of London-based fintech firm Revolut, has moved his residence from the U.K. to the UAE, Bloomberg reports.

Dr. Khaled El-Enany, the former Egyptian Minister of Tourism and Antiquities, was selected by the governing board of UNESCO to be the Paris-based international cultural organization’s Director-General, Reuters reports. The choice must be approved by UNESCO’s 194 member-countries at a meeting in November before it becomes effective.

Dr. Ahmad Belhoul Al Falasi, Chairman of the UAE Space Agency and Minister of Sport, said the country has invested some $12 billion in its space program.

Sheikh Abdulla bin Mohammed bin Butti, Chairman of the UAE National Media Office and  UAE Media Council, met with Jeff Zucker, CEO of RedBird IMI, and Jane Turton, CEO of All3Media, at the Media Office headquarters in Abu Dhabi.

Bandar Alkhorayef, Saudi Arabia’s Minister of Industry and Mineral Resources, met with Greece’s Minister of Environment and Energy Stavros Papastavrou and Minister of Development Takis Theodorikakos to discuss ways to strengthen partnerships.

🎤 La Vida Loca: Ricky Martin, Bryan Adams, John Mayer and Lewis Capaldi are among the stars who will join the line-up when Abu Dhabi’s open-air concert series Saadiyat Nights returns in early 2026, The National reports. One of the region’s most anticipated live music events, Saadiyat Nights has previously welcomed the likes of Mariah Carey, Michael Buble and Christina Aguilera at its amphitheater near the Mamsha Al Saadiyat dining strip.

Oct. 8-9, Abu Dhabi. Quantum Maritime Conference. Bringing together international leaders to advance quantum AI, cybersecurity, optimisation, and sensing in the maritime sector. Abu Dhabi Maritime Academy.

Oct. 9, Dubai. Family Office Summit. A full day event to discuss the latest progress in family office business. Park Hyatt. 

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 12-15, Dubai. Expand NorthStar. An annual startup and investor event in Dubai that connects founders, the corporate sector and VCs across tracks like climate tech, deep tech, fintech, and innovation. Dubai Harbour.

Oct. 13-17, Dubai. GITEX Global. The giant tech and startup show is back for its 45th edition, bringing together government and industry leaders., innovators and government. Dubai World Trade Center.

Oct. 14-16, Dubai. Global Future Council. The event on the Future of Growth convenes senior economists and thought leaders from across academia, business, government and civil society to provide intellectual guidance on new approaches to growth. 

Oct. 15-18, Sharjah. Evolve Future Mobility Show. Shaping the future of the electric vehicle industry in the region. Sharjah Expo Center.

Oct. 21-23, Dubai. Healthcare Future Summit. The summit explores the evolving landscape of vaccine innovation and global disease control. Dubai World Trade Center. 

Oct. 22, Abu Dhabi. Reuters NEXT Gulf Summit. Hosting critical conversations with world leaders, innovators and market movers to define the Middle East’s next chapter. St Regis Saadiyat.

Oct. 22, Dubai. S&P Global Ratings 15th Annual Islamic Finance Conference. An in-depth look at the global Islamic finance landscape. DIFC Atrium. 

Oct. 22-24, Sharjah. World Investment Conference & Sharjah Investment Forum. A global investment summit exploring foreign direct investment, policies and collaboration for resilient and sustainable growth. Al Jawaher Reception and Convention Centre.

Oct. 27, Dubai. The UAE Africa Tourism Investment Summit. Hosted by the UAE Ministry of Economy and Tourism as part of Future Hospitality Summit World 2025 to foster investment and strengthen tourism partnerships between the UAE and African nations. Madinat Jumeirah.

Oct. 27-28, Jeddah. Sustainable Coastal Development Forum. Exploring strategic solutions for developing eco-friendly coastal communities. Hilton Jeddah.

Oct. 27-29, Dubai. Future Hospitality Summit. Connecting global investment opportunities and projects to hospitality decision-makers. Madinat Jumeirah. 

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.

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.

AFFORABLE HOUSING

Aldar Properties, Abu Dhabi’s biggest real estate developer, is shifting gears from luxury villas to more inclusive projects aimed at everyday residents. Flush with cash after years of booming growth, the company now plans to build homes priced between $136,000 and $816,000, along with rental options for workers earning $1,360 to $5,450 a month. It’s also rolling out affordable schools, community shops, and even a new Gulf credit fund to help smaller builders access financing, CEO Talal Al Dhiyebi told Bloomberg. As Abu Dhabi draws in a wave of global professionals, Aldar’s new focus signals that the emirate’s leaders want the government-owned developer to evolve to serve not just the wealthy elite, but the teachers, nurses, and engineers who are now struggling to keep up with rising rents.

CINEMA COMPLEX

UAE’s Majid Al Futtaim, the owner of Emirates Mall and other major retail complexes in the region, will bring Vox Cinemas multiplex and seven global brands to Diriyah Square in Riyadh. The deal marks Majid Al Futtaim’s debut as the site’s first major entertainment partner, adding over 13,000 square meters of retail and leisure space in agreement with Diriyah Company, which is owned by the Public Investment Fund. The $600 million Diriyah Square project will feature more than 420 brands in a walkable, mixed-use district. Apple, Lululemon, and Time Out Market are among Diriyah’s growing lineup of international retail offerings.

Public Investment Fund: Lucid, the U.S.-based electric car company majority-owned by the PIF, manufactured 3,891 vehicles in the third quarter of 2025, falling short of Wall Street estimates, after the phaseout of a $7,500 U.S. federal tax credit boosted rival sales, Bloomberg reports. Lucid said more than 1,000 additional cars were built for final assembly in Saudi Arabia.

Public Investment Fund: Moody’s says Saudi Arabia’s progress on major infrastructure projects like Neom is uneven due to engineering challenges, weak private investment and lower oil prices, leading to ongoing budget shortfalls, Bloomberg reports. 

Abu Dhabi Investment Authority: ADIA invested over $11 million in LG Electronics’ $1.3 billion Indian IPO, joining HSBC, BlackRock, Goldman Sachs, and Fidelity, which collectively secured 30% of the shares on offer as anchor investors.

International Holding Company: Sammaan Capital will expand its affordable housing loan business following a $1 billion investment from Abu Dhabi’s IHC, the non-banking lender’s Chief Executive, Gagan Banga, told Reuters.

ADQ: Sotheby’s International Realty, in which ADQ has a minority stake, partnered with Abu Dhabi based Alain to launch the Four Seasons Private Residences Abu Dhabi at Saadiyat Beach, marking its Abu Dhabi debut with a record sale of $3,815 per square foot.

💰 Energy Fund: The Arab Energy Fund led a $26 million Series A round for Cairo-based Tagaddod, a platform specializing in biofuel feedstocks.

🏨 Tall Project: Cairo-based Al Ahly Sabbour Developments received approval to build a $225 million tower in Sultan Haitham City, set to become Oman’s tallest building.

🚚 Logistics Town: Saudi Logistics Services Company signed a lease to build a new logistics zone worth about $1.1 billion at Riyadh’s Falcon City.

🚢 Marine Travel: Abu Dhabi’s Eshraq Investments has struck a deal to acquire Shine, a maritime services company, from U.K.-based TIL Partners.

🚆 First Shop: Etihad Rail will open a new freight terminal at Dubai’s Jebel Ali Port within two weeks, launching its first train to Abu Dhabi as part of its integration with DP World.

🏭 Major Printing: China’s Nanjing Kenyo Group and its UAE subsidiary broke ground on the UAE’s first 3D concrete printing factory in the China-UAE Industrial Park.

🚀 Space Ambition: Abu Dhabi’s Technology Innovation Institute designed, built, and test-fired the UAE’s first liquid rocket engine, marking a major step toward developing the technology for future space missions.

💺 Luxury Training: Emirates opened an $8 million Dubai training facility to provide luxury hospitality training for nearly 25,000 cabin crew, featuring a restaurant, lounge, and tech-enabled classrooms.

💸 Double Pay: Saudi Arabia may need to double pay for specialist construction workers to meet 2034 FIFA World Cup stadium demands, adding cost and timeline pressures, Arabian Gulf Business Insight reports.

UAE President Sheikh Mohamed bin Zayed received a phone call on Monday from Jordan’s King Abdullah II.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, reviewed the progress at Zayed National Museum in preparation of its official opening this December in Abu Dhabi’s Saadiyat Cultural District.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, UAE Minister of Defence, Deputy Prime Minister and Chairman of the Executive Council of Dubai, launched Dubai Founders HQ, an initiative that aims to strengthen Dubai’s startup and small and medium enterprise ecosystem, on Monday.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister, Chairman of the Presidential Court and Chairman of the Higher Committee for the Water and Electricity Sector in Abu Dhabi, chaired the committee’s meeting on Monday at Qasr Al Watan palace.

Prince Saud bin Turki bin Faisal, a Saudi Royal, opened the 26th Elenex exhibition in Riyadh, which showcases solutions in electricity, ventilation, lighting, and home appliances, on Monday.

Conor Hillery and Matthieu Wiltz will take over from Filippo Gori as co-CEOs of JPMorgan Chase & Co’s Europe, Middle East and Africa business, Bloomberg reports.

Mostafa Madbouly, Egypt’s Prime Minister, held a meeting on Sunday to expedite the public offering of state-owned firms and strengthen the Egyptian Exchange to attract private investment.

Mahmood Al-Aweini, Secretary-General at Oman’s Ministry of Finance, said the country remains committed to introducing a personal income tax in 2028.

📸 Cat Snap: A rare Arabian caracal has been photographed in Wadi Wurayah National Park, a mountainous area in the UAE emirate of Fujairah. The critically endangered wildcat was captured by a motion-sensor camera set up by conservationists, only the third significant sighting since 2019. Known for its ability to leap to great heights, the Arabian caracal was once trained by people in the Gulf to hunt birds. It now faces threats from habitat loss and poaching, with fewer than 250 mature Arabian caracals thought to be living in the wild.

Oct. 8-9, Abu Dhabi. Quantum Maritime Conference. Bringing together international leaders to advance quantum AI, cybersecurity, optimisation, and sensing in the maritime sector. Abu Dhabi Maritime Academy.

Oct. 9, Dubai. Family Office Summit. A full day event to discuss the latest progress in family office business. Park Hyatt. 

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 12-15, Dubai. Expand NorthStar. An annual startup and investor event in Dubai that connects founders, the corporate sector and VCs across tracks like climate tech, deep tech, fintech, and innovation. Dubai Harbour.

Oct. 13-17, Dubai. GITEX Global. The giant tech and startup show is back for its 45th edition, bringing together government and industry leaders., innovators and government. Dubai World Trade Center.

Oct. 14-16, Dubai. Global Future Council. The event on the Future of Growth convenes senior economists and thought leaders from across academia, business, government and civil society to provide intellectual guidance on new approaches to growth. 

Oct. 15-18, Sharjah. Evolve Future Mobility Show. Shaping the future of the electric vehicle industry in the region. Sharjah Expo Center.

Oct. 21-23, Dubai. Healthcare Future Summit. The summit explores the evolving landscape of vaccine innovation and global disease control. Dubai World Trade Center. 

Oct. 22, Abu Dhabi. Reuters NEXT Gulf Summit. Hosting critical conversations with world leaders, innovators and market movers to define the Middle East’s next chapter. St Regis Saadiyat.

Oct. 22, Dubai. S&P Global Ratings 15th Annual Islamic Finance Conference. An in-depth look at the global Islamic finance landscape. DIFC Atrium. 

Oct. 22-24, Sharjah. World Investment Conference & Sharjah Investment Forum. A global investment summit exploring foreign direct investment, policies and collaboration for resilient and sustainable growth. Al Jawaher Reception and Convention Centre.

Oct. 27, Dubai. The UAE Africa Tourism Investment Summit. Hosted by the UAE Ministry of Economy and Tourism as part of Future Hospitality Summit World 2025 to foster investment and strengthen tourism partnerships between the UAE and African nations. Madinat Jumeirah.

Oct. 27-28, Jeddah. Sustainable Coastal Development Forum. Exploring strategic solutions for developing eco-friendly coastal communities. Hilton Jeddah.

Oct. 27-29, Dubai. Future Hospitality Summit. Connecting global investment opportunities and projects to hospitality decision-makers. Madinat Jumeirah. 

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.

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.

CITY DELAY

Saudi Arabia’s Public Investment Fund is pushing the deadline forward 10 years for New Murabba, one of its flagship mega-projects for redeveloping the kingdom’s sprawling capital city of Riyadh. Facing growing deficits and falling oil prices, executives at the sovereign wealth fund say the massive new business, entertainment and residential development won’t be finished until 2040, a decade past the completion date earlier projected, Arabian Gulf Business Insights reports. Still on schedule, however, is the project’s striking centerpiece known as the Mukaab, a 400-meter-high (1,300-foot), cube-shaped tower housing a shopping mall, hotels, restaurants and residential buildings. According to the revised schedule, New Murabba should be able to complete construction of a 45,000-seat soccer stadium in time for Saudi Arabia hosting the 2034 World Cup.

LAND DEAL

AD Ports, the port and logistics arm of sovereign wealth fund ADQ, has sold a large parcel of land to Mira Developments for $673 million. The land, located in the Al Mamoura district along the highway between Abu Dhabi and Dubai, will be transformed into one of the biggest mixed-use projects in the Abu Dhabi emirate, including residential projects, a business complex, hotels, golf courses, universities, schools and “one of the region’s largest shopping malls.” Construction will start within the next year and is expected to be finished within 10 years. AD Ports said the deal would unlock value from its land portfolio and accelerate development of its master plan for the 16 square-kilometer Town Centre Area.

Mubadala: Abu Dhabi sovereign fund Mubadala sold its majority stake in Turkish car rental business Getir Arac to competitor Tiktak.

Public Investment Fund: Saudi Arabia’s anti-corruption authority has detained at least two senior executives from Riyadh’s $63 billion Diriyah project in an ongoing investigation, with one reportedly released and no formal charges yet confirmed, Semafor reports.

Public Investment Fund: The PIF has mandated banks for its first euro-denominated green bond sale, targeting three- and seven-year notes to support the kingdom’s economic transformation, Bloomberg reports.

Qatar Investment Authority: Qatar’s QNB Group, which is 50% owned by the QIA, obtained a license to establish ezbank, a $666 million digital-first bank, in Saudi Arabia.

💵 Debt Deal: Oaktree Capital, the $209 billion asset manager, has committed debt financing to Arzan Investment Management to expand its Gulf hospitality portfolio, tapping into rising private credit demand, Bloomberg reports.

⛽ Egypt Stake: QatarEnergy said it reached a deal with Shell to acquire a 27% participating interest in an offshore exploration block in Egypt.

🛢️ Output Boost: OPEC+ agreed to raise oil production by another 137,000 barrels per day in November, continuing its incremental increases despite ongoing concerns over excess supply.

🌆 Waterfront Towers: Luxury developer Beyond Developments unveiled Soulever by Beyond, a $708 million twin-tower residential project in Dubai Maritime City.

👓 Gulf Talent: Millennium Management, the $79 billion hedge fund, is forming a new Dubai-based commodities trading team led by former SPX Capital partner Ylan Adler, Bloomberg reports.

⚓ Safe Harbor: Gulftainer, a UAE logistics firm, is considering up to $1 billion in investments in Egypt and plans to send a delegation to review opportunities.

🤝 Startup Link: Abu Dhabi’s Hub71 tech hub signed a draft agreement with the New Jersey Economic Development Authority to help startups expand internationally.

📜 Payment Pact: DP World and PayPal agreed to collaborate on faster cross-border digital trade payments.

💼 Kuwait Branch: Franklin Templeton opened a new office in Kuwait as part of a broader expansion in the Middle East.

🛫 Iraq’s Airport: Companies from Saudi Arabia, Turkey and the U.K. are bidding to develop and run Baghdad International Airport.

UAE President Sheikh Mohamed met with Salem Saleh bin Braik, Prime Minister of Yemen, in Abu Dhabi on Friday.

Sheikh Tahnoon bin Zayed, UAE National Security Advisor and Deputy Ruler of Abu Dhabi, said on X that he met with Masayoshi Son, Chairman and CEO of SoftBank Group, on Saturday to discuss AI Infrastructure and semiconductor strategies. 

Sheikh Sultan bin Ahmed Al Qasimi, Deputy Ruler of Sharjah, officially opened the 12th Sharjah International Film Festival on Sunday.

Sam Altman is coming back to the UAE this month after a round of stops in Asia to drum up funds for OpenAI’s ambitious drive to build computing infrastructure, The Wall Street Journal reports. OpenAI and chip-designer Advanced Micro Devices announced a multibillion-dollar partnership today to collaborate on AI data centers.

Ghannam Al Mazrouei, Chairman of ADX Group, which operates the Abu Dhabi Securities Exchange, led a roadshow in New York in collaboration with Morgan Stanley last week that highlighted the UAE stock market’s 15 largest companies and included 50 CEOs of Emirati companies. 

Khalifa Al Hajeri was appointed CEO of the $272 million Emirates Growth Fund, which was launched in May to support entrepreneurship in the UAE. Al Hajeri previously led growth investments, sovereign partnerships and venture capital initiatives at Mubadala.

Abdulmajid Mussa Nsekela, Managing Director of Tanzania’s largest bank CRDB Bank told Bloomberg that the bank has opened a branch in Dubai. 

Jeff Parker, CEO of Paymentology, a U.K.-based card issuing and payment processing firm, told Asharq News that the company plans to designate its Saudi office as its regional headquarters.

Mariam Mohamed will become the first Emirati to take part in the long-running Miss Universe pageant.

🏀 NBA in the UAE: The New York Knicks swept a two-game series against the Philadelphia 76ers in the NBA’s annual preseason matchup in Abu Dhabi. Playing at the Etihad Arena, the Knicks won 113–104 on Saturday following a 99–84 victory in Thursday’s opener.

🖌️ Tomb Raiders: A Pharaonic painting depicting the Nile’s ebb and flow over three seasons of the year has been discovered missing from the Saqqara necropolis outside Cairo. The announcement of the limestone artifact’s disappearance by Egypt’s antiquities authority comes less than a month after an ancient bracelet was stolen from the Egyptian Museum in Cairo and melted down for its gold.

Oct. 6-7, Dubai. AGRA Middle East. The largest agricultural trade show in the region will showcase the latest agriculture trends, from smart farming to regenerative agriculture. Dubai World Trade Center.

Oct. 6-7, Dubai. The Forex Expo. The event includes a conference offering insights into the world of online trading products, including Forex, stocks, commodities, metals and more. Dubai World Trade Center.

Oct. 8-9, Abu Dhabi. Quantum Maritime Conference. Bringing together international leaders to advance quantum AI, cybersecurity, optimisation, and sensing in the maritime sector. Abu Dhabi Maritime Academy.

Oct. 9, Dubai. Family Office Summit. A full day event to discuss the latest progress in family office business. Park Hyatt. 

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 12-15, Dubai. Expand NorthStar. An annual startup and investor event in Dubai that connects founders, the corporate sector and VCs across tracks like climate tech, deep tech, fintech, and innovation. Dubai Harbour.

Oct. 13-17, Dubai. GITEX Global. The giant tech and startup show is back for its 45th edition, bringing together government and industry leaders., innovators and government. Dubai World Trade Center.

Oct. 14-16, Dubai. Global Future Council. The event on the Future of Growth convenes senior economists and thought leaders from across academia, business, government and civil society to provide intellectual guidance on new approaches to growth. 

Oct. 15-18, Sharjah. Evolve Future Mobility Show. Shaping the future of the electric vehicle industry in the region. Sharjah Expo Center.

Oct. 21-23, Dubai. Healthcare Future Summit. The summit explores the evolving landscape of vaccine innovation and global disease control. Dubai World Trade Center. 

Oct. 22, Abu Dhabi. Reuters NEXT Gulf Summit. Hosting critical conversations with world leaders, innovators and market movers to define the Middle East’s next chapter. St Regis Saadiyat.

Oct. 22, Dubai. S&P Global Ratings 15th Annual Islamic Finance Conference. An in-depth look at the global Islamic finance landscape. DIFC Atrium. 

Oct. 22-24, Sharjah. World Investment Conference & Sharjah Investment Forum. A global investment summit exploring foreign direct investment, policies and collaboration for resilient and sustainable growth. Al Jawaher Reception and Convention Centre.

Oct. 27, Dubai. The UAE Africa Tourism Investment Summit. Hosted by the UAE Ministry of Economy and Tourism as part of Future Hospitality Summit World 2025 to foster investment and strengthen tourism partnerships between the UAE and African nations. Madinat Jumeirah.

Oct. 27-28, Jeddah. Sustainable Coastal Development Forum. Exploring strategic solutions for developing eco-friendly coastal communities. Hilton Jeddah.

Oct. 27-29, Dubai. Future Hospitality Summit. Connecting global investment opportunities and projects to hospitality decision-makers. Madinat Jumeirah. 

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.

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.

SERVER STAKES

UAE tech investor MGX is joining BlackRock’s Global Infrastructure Partners in seeking a stake in Aligned Data Centers, which has tapped into surging demand to build AI infrastructure. The deal involves buying out current owner Macquarie and could value Aligned at around $40 billion, making it one of the year’s largest digital infrastructure transactions, Bloomberg reports. MGX, an artificial intelligence investment firm launched by Abu Dhabi sovereign wealth fund Mubadala, is expected to participate independently in the deal alongside GIP. Mubadala already holds a separate stake in Aligned.

RAIL PASS

A rail service connecting all six Gulf countries is being built with seamless border crossings and will be “as easy as taking a plane.” Officials at the Global Rail conference taking place this week in Abu Dhabi, told The National that the project was on track to open by December 2030. Construction on Hafeet Rail, the section linking the UAE to Oman, has already begun and is expected to be completed within three years, CEO Ahmed Al Musawa Al Hashemi told the conference. The second edition of Global Rail, which wraps up today, drew more than 20,000 participants and comes amid anticipation for the launch of the UAE’s first passenger rail service next year. Among the announcements from the event was a new tram network connecting Abu Dhabi’s Yas Island with Zayed International Airport and Etihad Rail’s deal with taxi company Yango Group to connect suburban stations in the UAE.

International Holding Company: IHC will acquire a 43.5% stake in Indian mortgage lender Sammaan Capital for almost $1 billion.

Mubadala Capital: Corient, the Miami-based investment advisory subsidiary of Mubadala Capital-owned asset manager CI Financial, will acquire Bristlecone Advisors, a multi-family office based in Bellevue, Washington, with $2 billion in assets under management.

ADQ: AD Ports Group has signed a preliminary agreement with SPG Yantai Port, a Chinese government enterprise which operates ports in Shandong province, to establish an automotive logistics corridor between Asia, the Middle East and North Africa.

🏠 Beach House: An off-plan penthouse in the luxury Four Seasons Private Residences development on Abu Dhabi’s Saadiyat Island has sold for $54 million. It features five-bedrooms, two lifts, a private cinema, chef’s kitchen and a fitness studio and spa.

💰 Startup Cash: Saudi investment firm Sukna Capital and U.S.-based venture debt provider Partners for Growth will invest up to $50 million in high-potential tech companies and SMEs across the Middle East.

💱 Currency Exchange: The UAE and Turkish central banks signed a currency swap worth AED 18 billion ($4.9 billion), along with two agreements to make it easier to use local currencies in cross-border trade and connect payment systems.

👍 Finished Work: Saudi Arabia’s National Water Company plans to complete 34 projects worth $987 million by end-2025, after already finishing 68 projects this year.

🌭 Secret Sauce: Europe’s Windoria is acquiring Saudi condiment company Al-Fursan for an undisclosed sum.

🤝 Property IPO: Dubai-based luxury developer Binghatti Holding is in talks with banks including Citigroup, Morgan Stanley, Emirates NBD and EFG Hermes for a potential IPO.

⛽ Oil Glut: Unsold Middle Eastern crude cargoes for November, estimated at 6-12 million barrels from sellers including the UAE and Qatar, may be an early sign of a global oil surplus, Bloomberg reports.

☀️ Energy Mix: Egypt plans to boost renewables to 42% of its energy mix by 2030 and 65% by 2040, and aims to be a global green hydrogen hub despite funding and technology hurdles, its energy minister said.

💵 Leasing Assets: Kuwait Petroleum Corp. is hiring JPMorgan to help lease part of its pipeline network in a deal that could raise up to $7 billion to fund its investment plans, Bloomberg reports.

🛵 New Beginning: Deliveroo UAE announced its official integration with DoorDash following the completion of the acquisition, with Wolt Co-Founder Miki Kuusi taking on the role of CEO at Deliveroo alongside his current position as DoorDash’s Head of International.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, met with NBA Commissioner Adam Silver on Thursday before an exhibition game in the UAE capital between the New York Knicks and Philadelphia 76ers.

Prince Khalid bin Salman, Saudi Arabia’s Minister of Defense, held a phone call on Thursday with his Qatari counterpart, Sheikh Saud bin Abdulrahman bin Hassan Al-Thani.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Deputy Prime Minister and Minister of Defense, visited the National Guard headquarters in Abu Dhabi on Friday.

Sheikh Maktoum bin Mohammed, UAE Minister of Finance, Deputy Prime Minister and First Deputy Ruler of Dubai, met with Alex Chriss, President and CEO of PayPal in Dubai on Thursday.

Sheikh Mohammed bin Hamad, Crown Prince of the northern emirate of Fujairah, delivered the opening speech at the 40th edition of the Crans Montana Forum in Rabat.

Jasem Mohammed Al-Budaiwi, GCC Secretary-General, said during the joint meeting of GCC finance ministers and central bank governors with International Monetary Fund Managing Director Kristalina Georgieva in Kuwait on Thursday that the economies of the GCC have demonstrated strong resilience in absorbing global economic shocks.

Nicolas Levi was appointed Regional Vice President, Middle East, Pakistan & Afghanistan of Western Union. 

Saeed Rashid Al Abdi, Chairman of the Finance, Economy and Industry Committee at the UAE Federal National Council, met with Tim van de Molen, Chair of Foreign Affairs, Defense and Trade Committee of the New Zealand Parliament, at the FNC headquarters in Abu Dhabi on Friday. 

🎥 Roll Call: A major casting agency appears to be hunting for extras for the filming of “Dune: Part Three” in Abu Dhabi. While the film isn’t named, Miranda Davidson Studios is looking to fill roles for babies, children, teenagers and adult women in a “Hollywood blockbuster” being shot in the Liwa Desert between October and November, The National reports. Both “Dune” and “Dune: Part Two” were filmed in Abu Dhabi and the Abu Dhabi Film Commission announced in August that the next chapter in the series would also feature Liwa as the setting for the fictional planet Arrakis.

Oct. 4, Abu Dhabi. Syria recovery and investment forum. Influential business leaders, regional investors, policymakers and advisory experts explore practical avenues for engagement in Syria’s recovery. Sheraton Abu Dhabi.

Oct.6-7, Dubai. AGRA Middle East. The largest agricultural trade show in the region will showcase the latest agriculture trends, from smart farming to regenerative agriculture. Dubai World Trade Center.

Oct. 6-7, Dubai. The Forex Expo. The event includes a conference offering insights into the world of online trading products, including Forex, stocks, commodities, metals and more. Dubai World Trade Center.

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 13-17, Dubai. GITEX Global. The giant tech and startup show is back for its 45th edition, bringing together government and industry leaders., innovators and government. Dubai World Trade Center.

Oct. 14-16, Dubai. Global Future Council. The event on the Future of Growth convenes senior economists and thought leaders from across academia, business, government and civil society to provide intellectual guidance on new approaches to growth. 

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.

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.

SAUDI SHIPPING

Saudi shipping company Bahri is gearing up to turn itself into the world’s leading operator of very large crude carriers, with an ambitious plan to add more than 90 vessels to its fleet over the next decade. The company, which is backed by the Public Investment Fund and Aramco,has already placed a $205 million order for the kingdom’s first domestically-built bulk cargo carriers and is eyeing 20 new VLCCs for delivery by 2030. Bahri CEO Ahmed Al-Subaey told Bloomberg in an interview that the company is on the brink of “unprecedented expansion,” aiming to capture more business from heavyweights like Aramco and Sabic, as part of the kingdom’s push to channel trade through its national champions. Currently, Bahri only handles 15% of Aramco’s shipping. 

LULU DOWN UNDER

Australian Prime Minister Anthony Albanese has invited UAE grocery giant LuLu Group to expand into Australia and take on the country’s supermarket duopoly, Coles and Woolworths. Albanese confirmed he had made the invitation to LuLu Group Chairman Yusuff Ali while visiting the UAE earlier this week to mark the start of a free-trade agreement between the two countries, the Australian Broadcasting Corporation reports. LuLu Group has more than 250 stores across the Gulf, Asia and Europe. “I have encouraged him to come to Australia as well, we need more competition in the Australian supermarket sector, and we have had a little discussion about that,” Albanese said. The new Comprehensive Economic Partnership Agreement, which was signed in Canberra last November, is expected to lift annual bilateral trade to more than $10 billion by 2032.

XRG: Fertiglobe, the chemical fertilizer arm of Adnoc and XRG, acquired Wengfu Australia’s fertilizer distribution assets across five ports.

Qatar Investment Authority: Qatar, through Qatari Diar, a subsidiary of the QIA, acquired 20.2 square kilometers of land in Egypt’s Ras Alam El-Rum for $4 billion to develop an integrated tourism project.

Masdar: The Abu Dhabi green energy company has finalized its acquisition of a 49.99% stake in a $432 million portfolio of four solar plants in Spain from Endesa.

International Holding Company: Abu Dhabi dredging company NMDC Group, which is backed by IHC subsidiary Alpha Dhabi Holding, signed a $610 million contract with the Pasay Harbor City Corporation to undertake large-scale dredging and land reclamation activities in Philippines’ Manila Bay.

ADNOC: KKR has acquired a minority stake in ADNOC Gas Pipeline Assets.

🎭 Culture Fund: Chinese media group ORI has pledged $533 million to establish its regional headquarters in Saudi Arabia, where it plans to invest in movies, tourism and fashion, Bloomberg reports. 

💰 Money Making: Sohar International Bank, Oman’s second-largest lender, raised $500 million through a bond issue now listed on the Muscat Stock Exchange.

🌍 Asia Bound: Dubai-based Grocery chain Spinneys is expanding into Southeast Asia via a 40% stake in a joint venture with Ayala Corporation in the Philippines.

💰 Foreigners Invest: Saudi Arabia’s Capital Markets Authority launched a public consultation on plans to scrap the “qualified foreign investor” concept, aiming to open its stock market to all foreign investors, broaden participation and boost liquidity.

📈 Bond Rush: Bahrain joined other GCC states in tapping international debt markets with eight-year Islamic bonds and a 12-year conventional bond.

🚆 Speed Passengers: Etihad Rail and France’s Keolis Group will form a joint venture to begin operating passenger trains in the UAE next year.

UAE President Sheikh Mohamed bin Zayed met with Mohammed Shia’ Al Sudani, Prime Minister of Iraq, at Qasr Al Shati palace in Abu Dhabi on Wednesday.

Sheikh Theyab bin Mohamed, Deputy Chairman of the Presidential Court for Development and Fallen Heroes’ Affairs, and Chairman of Etihad Rail, visited the pavilions at Global Rail 2025 in Abu Dhabi.

Prince Faisal bin Farhan, Saudi Foreign Minister, and his Syrian counterpart, Assad Al-Shaibani, met on the sidelines of the Munich Leaders Meeting in AlUla on Wednesday.

Sara Ali has been appointed as the Middle East & Africa Platforms & Data Head at Citi. She brings experience in platform modernization and data transformation.

Dr. Ali Saeed Bin Harmal joins the board of directors at Bahrain-based global alternative investment firm Arcapita Group.

Mazen Al Tamimi was appointed as board member of New World Group, a global merchant banking and investment platform.

👑 Saudi Royalties: Musicians from Saudi Arabia have seen a surge in royalties from streaming, signifying growing recognition among global audiences, The National reports. Spotify’s Loud and Clear analysis, its first stand-alone report for the kingdom, showed that local artists earned more than $3.5 million in royalties on the streaming platform in 2024, up 76% on the previous year. More than 90% of those royalties came from international markets, including U.S., Brazil, India, Germany, U.K. and France. Spotify has been working to boost the fan bases of Saudi artists, hosting residencies and workshops and expanding the use of marketing tools.

Oct. 4, Abu Dhabi. Syria recovery and investment forum. Influential business leaders, regional investors, policymakers and advisory experts explore practical avenues for engagement in Syria’s recovery. Sheraton Abu Dhabi.

Oct.6-7, Dubai. AGRA Middle East. The largest agricultural trade show in the region will showcase the latest agriculture trends, from smart farming to regenerative agriculture. Dubai World Trade Center.

Oct. 6-7, Dubai. The Forex Expo. The event includes a conference offering insights into the world of online trading products, including Forex, stocks, commodities, metals and more. Dubai World Trade Center.

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 13-17, Dubai. GITEX Global. The giant tech and startup show is back for its 45th edition, bringing together government and industry leaders., innovators and government. Dubai World Trade Center.

Oct. 14-16, Dubai. Global Future Council. The event on the Future of Growth convenes senior economists and thought leaders from across academia, business, government and civil society to provide intellectual guidance on new approaches to growth. 

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.

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.

GULF CHANNEL

Silver Lake, the U.S. private equity firm that helped Saudi Arabia’s Public Investment Fund lead this week’s $55 billion buyout of gaming titan Electronic Arts, has made itself a fixture in the Gulf. Having long cultivated ties with Abu Dhabi’s Mubadala and other sovereign wealth funds, Silver Lake has earned a reputation for helping to unlock vast pools of capital in the region, Bloomberg reports. Egon Durban, for example, Silver Lake’s Co-CEO, has developed a personal rapport with Mubadala CEO Khaldoon Al Mubarak and the Emirati fund bought a 5% stake in Silver Lake five years ago. Affinity Partners founder Jared Kushner, meanwhile, receives credit for helping to initiate talks between EA and the Saudi fund to make the acquisition, which has become the biggest leveraged buyout in history, The Wall Street Journal reports.

TAILOR MADE

Riyadh-based Merak Capital has set up an $80 million fund to support the fashion industry in Saudi Arabia, anchored by the kingdom’s Cultural Development Fund. The Fashion Fund will invest across the industry, supporting Saudi labels, as well as beauty brands, e-commerce and technology companies working with apparel. Saudi Arabia hosted its first fashion shows in 2018 and has since established Riyadh Fashion Week and Red Sea Fashion Week. The sector is poised for significant growth, with fashion and luxury expected to hit $42 billion by 2028, according to industry tracker Fashion Futures.

Public Investment Fund: Kent, a Dubai-based energy services company, won an enginering contract from PIF-owned ACWA Power to oversee construction of Saudi Arabia’s Yanbu Green Hydrogen Hub.

Mubadala Investment Company: M42, a subsidiary of Mubadala, will collaborate with the Medical Tourism Association and Mastercard to feature its facilities on the “Better by MTA” heathcare platform.

CYVN Holdings: McLaren CEO Zak Brown earned £37.3 million ($50.3 million) last year after the team’s first Formula One title since 1998, making him one of the industry’s best-paid bosses, Bloomberg reports. Bahrain sovereign wealth fund Mumtalakat and Abu Dhabi’s CYVN Holdings took full control of the racing team last month.

🕹️ Air Delivery: Keeta, a Chinese-owned drone delivery platform, will establish its regional headquarters in the UAE as part of an expansion into e-commerce and AI-powered logistics.

💵 Bond Demand: Kuwait and Egypt drew more than $29 billion in investor orders for new dollar bond offerings as governments in the region tapped markets ahead of expected U.S. interest rate cuts.

👋 Startup Funds: Beco Capital, a Dubai-based venture capital firm, closed $370 million across two new funds with a focus on the UAE and Saudi Arabia.

💸 Double Whammy: UAE-based venture capital company Iliad Partners raised money from investors including Greek banks to mark the second closing of its $50 million fund and doubling its assets under management.

🛰️ Mini-Satellites: Commcrete, an Israeli startup that develops satellite communication devices small enough to fit in the palm of a hand, raised $29 million in a Series A funding round led by Greenfield Partners.

🛢️ Oil Talks: OPEC+ members may consider a larger production increase than planned for November, beyond the 137,000 barrels per day agreed for October, as Saudi Arabia seeks to recover oil market share.

🚆 Rail Expansion: Saudi Arabia is planning to double its 5,500-kilometer railway network to improve  transportation links and support economic development across the kingdom.

🏡 Housing Jobs: Singapore’s SC Capital Partners, with co-sponsor CapitaLand Investment, launched the SC GCC Real Estate Industrial Development Fund in the UAE to back a Ras Al Khaimah industrial project.

🚦 Green Light: Amanat Holdings’ subsidiary Almasar Education received approval for an IPO on Saudi Arabia’s Tadawul Stock Exchange and plans to offer 30% of its share capital.

💰 Money Back: Davidson Kempner Capital has acquired about $1.4 billion in bad debt from Abu Dhabi Commercial Bank, the second such transaction between the U.S. hedge fund and one of the Gulf’s largest lenders, Bloomberg reports.

UAE President Sheikh Mohamed bin Zayed received participants on Tuesday from the Global Rail and Transport Infrastructure Exhibition currently taking place at ADNEC in Abu Dhabi. Sheikh Mohamed also met with Sheikh Hamad bin Mohammed Al Sharqi, Ruler of the northern emirate of Fujairah, and with Arpine Sargsyan, Armenia’s Minister of Internal Affairs.

Sheikh Tahnoon bin Zayed, National Security Advisor and Deputy Ruler of Abu Dhabi, chaired a meeting of the Abu Dhabi Artificial Intelligence and Advanced Technology Council on Wednesday in the presence of Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council.

Paolo Casamassima was named Executive Director for Investor Relations and Stakeholder Engagement at Arqaam Capital.

Georges Khoueiri was named CEO of Mirabaud Middle East, the Dubai-based subsidiary of Geneva-based private banking group Mirabaud.

Raid Al Rubaiey was appointed CEO of Oman’s SOHAR Freezone and Deputy CEO of SOHAR Port.

🐪 Camel Art: A large collection of ancient rock carvings featuring life-sized camels, wild donkeys, ibex, gazelles and people has been discovered in the Nefud Desert of northern Saudi Arabia, providing the strongest evidence of humans thriving in the harsh environment thousands of years earlier than previously believed. Created around 12,000 years ago, the stone engravings are the oldest dated rock art in the Arabian peninsula, according to findings published in the journal Nature Communications on Tuesday.

Sept. 30-Oct. 2, Abu Dhabi. Global Rail and Transport Infrastructure Exhibition and Conference. An international event dedicated to the rail transport sector. ADNEC.

Sept. 30-Oct.2, Dubai. WETEX. The region’s biggest exhibition dedicated to sustainability and clean energy technology. Dubai World Trade Center. 

Oct 1-2, Dubai. World Green Economy Summit. Supporting international cooperation in the face of pressing global challenges. Dubai World Trade Center.

Oct. 2, Dubai. Zawya GCC Capital Markets Forum. Bringing together top executives and financial institutions to discuss the region’s evolving equity and debt markets. Fairmont Dubai.

Oct. 2-Oct. 4, Abu Dhabi: NBA Abu Dhabi Games 2025. New York Knicks face the Philadelphia 76ers in two pre-season games. Etihad Arena.

Oct. 4, Abu Dhabi. Syria recovery and investment forum. Influential business leaders, regional investors, policymakers and advisory experts explore practical avenues for engagement in Syria’s recovery. Sheraton Abu Dhabi.

Oct.6-7, Dubai. AGRA Middle East. The largest agricultural trade show in the region will showcase the latest agriculture trends, from smart farming to regenerative agriculture. Dubai World Trade Center.

Oct. 6-7, Dubai. The Forex Expo. The event includes a conference offering insights into the world of online trading products, including Forex, stocks, commodities, metals and more. Dubai World Trade Center.

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 13-17, Dubai. GITEX Global. The giant tech and startup show is back for its 45th edition, bringing together government and industry leaders., innovators and government. Dubai World Trade Center.

Oct. 14-16, Dubai. Global Future Council. The event on the Future of Growth convenes senior economists and thought leaders from across academia, business, government and civil society to provide intellectual guidance on new approaches to growth. 

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.

PEACE PIVOT

Foreign ministers from the UAE, Saudi Arabia, Qatar, Egypt, Jordan, Turkey, Indonesia and Pakistan voiced support for the 20-point Gaza peace plan introduced by U.S. President Donald Trump. The joint statement, released after Trump’s White House press conference with Israeli Prime Minister Benjamin Netanyahu on Monday, welcomed what the ministers described as “sincere efforts” to end the conflict. “The ministers affirm their readiness to engage positively and constructively with the United States and the parties toward finalizing the agreement and assuring its implementation in a manner that ensures peace, security and stability for the people of the region,” the statement said. A response to the plan from Hamas is still pending.

SUN SPOT

Yemen’s first large-scale solar plant, which was funded by the UAE, is helping alleviate power shortages in the port city of Aden, Reuters reports. The 120 megawatt Aden Solar Power Plant produces enough electricity to power more than 150,000 homes and is helping businesses avoid losses and damage caused by power outages. Yemen, which has been battling fuel shortages and severe damage to its power infrastructure from years of war, is the least electrified country in the Middle East. The second phase of the power plant is expected to double solar capacity in 2026.

Public Investment Fund: Dan Co., a unit of the Saudi sovereign wealth fund, launched Solan, a new agritourism brand offering farm stays and lodge experiences across the kingdom.

Qatar Investment Authority: The QIA confirmed new U.S. investments including deals with Blue Owl and Elon Musk’s xAI as part of its pledge to deploy $500 billion in American assets.with Blue Owl and Elon Musk’s xAI as part of its pledge to deploy $500 billion in American assets.

ADQ: Sheikh Hamdan bin Zayed, the UAE Ruler’s Representative in Al Dhafra Region, received a delegation from AD Ports Group, headed by Managing Director and Group CEO Mohamed Juma Al Shamisi, at Al Nakheel Palace in Abu Dhabi on Monday. Sheikh Hamdan was briefed on the group’s projects to develop yachting and cruise ship facilities on Sir Bani Yas Island, a wildlife sanctuary about 250 kilometers south-west of Abu Dhabi.

Oman Investment Authority: The OIA has invested an undisclosed sum in Oxford, U.K.-based Salience Labs through its Future Generations Fund in a bid to strengthen its artificial intelligence infrastructure. Salience is developing optical chips that transmit data using light instead of electrical signals.

🎈 Helium Pact: QatarEnergy signed a long-term agreement to supply helium to Germany’s Messer Group, citing reserves in the North Field gas basin projected to meet global demand for three decades.

🚕 Ride Share: Careem, the Dubai-based ride-hailing app owned by Uber, has bought a minority stake in UAE online car rental service Swapp for an undisclosed sum.

🌍 Africa Investment: A syndicate of lenders led by Abu Dhabi Commercial Bank have backed a $1.5 billion facility for Lagos-based Africa Finance Corporation. 

📈 Mecca Momentum: Shares of Saudi developer Retal Urban Development Co., which builds housing in Mecca, have gained nearly 60% since its June listing on the Tadawul exchange.

🗞️ Translate This: Saudi Arabia’s Arab News will publish in 50 languages through a partnership with speech and translation company CAMB(at)AI, Editor-in-Chief Faisal J. Abbas announced on Monday.

🇸🇦 Cleric Shift: Crown Prince Mohammed bin Salman’s success in curbing the political influence of Saudi Arabia’s religious establishment is explored in an article published by the Financial Times.

UAE President Sheikh Mohamed bin Zayed welcomed Australian Prime Minister Anthony Albanese at Qasr Al Shati palace in Abu Dhabi on Tuesday. The pair discussed the details of a trade deal between the two countries, which comes into effect this week.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, approved a 42 billion dirham ($11.4 billion) expansion of the Liveability Strategy to fund additional quality-of-life projects.

Tony Vinciquerra, Chairman of Sony Pictures Entertainment, told Arab News that Saudi Arabia’s box office revenues are approaching those of the United Kingdom, crediting rapid cinema construction and expanding film distribution.

Joshua Pack, Co-CEO of Fortress Investment Group, died unexpectedly on Monday at the age of 51, Axios reports. Pack was promoted to the role in 2023 as part of the deal when Mubadala and firm management took over Fortress from SoftBank. “Josh left an indelible mark on our institution,” Fortress said in a statement. 

Daniel Asmar, CEO of Audi Capital, launched the Audi Capital MENA Art Fund, a first-of-its-kind investment vehicle regulated by Saudi Arabia’s Capital Market Authority, during the inaugural Cultural Investment Conference in Riyadh.

🍽️ Beirut’s Back: Beirut’s culinary scene is making a comeback, with Gulf tourists flocking to the city to return to beloved restaurants and queue up for a taste of a trendy $13 tomato sandwich, Bloomberg reports. Kuwait and the UAE have lifted travel bans for their citizens, with Saudi Arabia expected to follow soon, and flocks of social media influencers are jetting in to document their favorite hotspots. Among them is Em Sherif Deli in downtown Beirut, now one of Lebanon’s most popular brands and the source of the sought-after sandwich. Despite Lebanon’s economic woes and decades of wartime damage in the capital, the eatery has expanded to 30 international restaurants, including flashy outposts in London and Monaco.

Sept. 30-Oct.1, Abu Dhabi. MENA Investment Congress. Hosted by the CFA Society in the UAE, the event brings together investors to discuss new strategies. Rosewood Hotel.

Sept. 30-Oct. 2, Abu Dhabi. Global Rail and Transport Infrastructure Exhibition and Conference. An international event dedicated to the rail transport sector. ADNEC.

Sept. 30-Oct.2, Dubai. WETEX. The region’s biggest exhibition dedicated to sustainability and clean energy technology. Dubai World Trade Center. 

Oct 1-2, Dubai. World Green Economy Summit. Supporting international cooperation in the face of pressing global challenges. Dubai World Trade Center.

Oct. 2, Dubai. Zawya GCC Capital Markets Forum. Bringing together top executives and financial institutions to discuss the region’s evolving equity and debt markets. Fairmont Dubai.

Oct. 4, Abu Dhabi. Syria recovery and investment forum. Influential business leaders, regional investors, policymakers and advisory experts explore practical avenues for engagement in Syria’s recovery. Sheraton Abu Dhabi.

Oct.6-7, Dubai. AGRA Middle East. The largest agricultural trade show in the region will showcase the latest agriculture trends, from smart farming to regenerative agriculture. Dubai World Trade Center.

Oct. 6-7, Dubai. The Forex Expo. The event includes a conference offering insights into the world of online trading products, including Forex, stocks, commodities, metals and more. Dubai World Trade Center.

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 13-17, Dubai. GITEX Global. The biggest tech and startup show in the world is back for its 45th edition, bringing together industry leaders, innovators and tech specialists to explore global change. Dubai World Trade Center.

Oct. 14-16, Dubai. Global Future Council. The event on the Future of Growth convenes senior economists and thought leaders from across academia, business, government and civil society to provide intellectual guidance on new approaches to growth. 

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.

GAME ON

Saudi Arabia’s Public Investment Fund, private equity firm Silver Lake and Jared Kushner’s Affinity Partners are part of a group that is attempting a $50 billion leveraged buyout of gaming titan Electronic Arts. The group is in advanced talks for the deal, potentially the largest leveraged buyout in history, The Wall Street Journal reports. The PIF, which already holds a 10% stake in EA, has been expanding gaming investments through its Savvy Games Group. Silver Lake’s Gulf activity includes its investment of $800 million in the Abu Dhabi-owned tech company G42, which gave Managing Partner Egon Durban a seat on the board in 2021.

LEARNING CURVE

Dubai-based school operator GEMS Education is among the frontrunners bidding for Riyadh-based Ajialuna Educational Co. in a move that could give it a large foothold in the kingdom, where Ajialuna serves more than 14,000 students. Majority owner Sulaiman Alrajhi Holding is seeking to sell its entire stake, with several local investors also bidding, Bloomberg reports. GEMS, which is backed by Brookfield Asset Management, is one of the world’s biggest education companies, with dozens of schools in the Middle East. Demand for quality education and international curriculums is growing rapidly in Saudi Arabia, both from expatriate and local families, as the government tries to address its skills gap.

Masdar: Infinity Power, a joint venture between Egypt’s Infinity Energy and the UAE’s Masdar, will launch a $1 billion, 1,200 megawatt solar-plus-storage project in Egypt after closing financing on its 200 MW Ras Ghareb wind farm.

Abu Dhabi Investment Authority: A subsidiary of ADIA has become the lead investor in GL Capital’s $230 million continuation vehicle for U.S.-based SciClone Pharmaceuticals.

MGX Group: Sheikh Tahnoon bin Zayed, UAE National Security Adviser and Chairman of MGX, led the Abu Dhabi-owned investment fund’s second board meeting of 2025 on Sunday.

🏗️ Trump Jeddah: London-listed Saudi developer Dar Global has signed a deal with the Trump Organization to build a new $1 billion commercial and housing development in Jeddah, Bloomberg reports.

💰 Counting Losses: Kuwait Airways shareholders approved a plan to write off almost $1 billion in accumulated losses through a reduction in the company’s capital.

💸 Major Deals: Iraqi Prime Minister Mohammed S. Al-Sudani kicked off the Iraq Investment Forum in Baghdad on Saturday by announcing $450 billion worth of investment opportunities.

🔌 Electric Connection: Milan-based cable company Prysmian has been awarded a $1 billion contract to build a submarine electricity interconnection between Italy and Tunisia.

🤝 Flexible Loan: Dubai-based hospitality group, Five Holdings secured a $460 million revolving credit facility to fund its global expansion and repay debt.

⚡ Energy Tour: JPMorgan Chase organized a trip for select clients to the Gulf to highlight investment opportunities emerging from the region’s energy transition, Bloomberg reports.

🛩️ Aero Partners: K2, an Abu Dhabi government-owned company specializing in advanced autonomous systems, signed a letter of intent with Pahang Aerospace City and the University Malaysia Pahang Al-Sultan Abdullah to collaborate on developing next-generation autonomous platforms.

🛂 Golden Ticket: Jordan’s cabinet approved regulations allowing foreign investors to gain citizenship or five-year residency through qualifying investments of $1.4 million in shares in a Jordanian company or by launching ventures in productive sectors.

📈 Limited Impact: Cenomi Centers, a major mall operator in Saudi Arabia, said Riyadh’s newly announced five-year rent freeze will have limited impact on its revenues.

💲 Investment Grade: Morocco regained its investment-grade status from S&P after four years, with a stable outlook supported by resilient growth despite external shocks.

UAE President Sheikh Mohamed bin Zayed arrived today in Cairo to meet Egyptian President Abdel Fattah El-Sisi.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, met with Israeli Prime Minister Benjamin Netanyahu on the sidelines of the U.N. General Assembly in New York.

Sheikh Abdulla Al Hamed, Chairman of the UAE’s National Media Office, visited Tesla’s headquarters in California, where he met CEO Elon Musk to discuss the role of artificial intelligence at Tesla and Musk’s other companies X, SpaceX, and Starlink.

Sheikh Saud bin Saqr Al Qasimi, Ruler of the northern UAE emirate of Ras Al Khaimah, attended the signing ceremony between the RAK Transport Authority, U.S.-based Joby Aviation and U.K.-based Skyports Infrastructure to launch the first air taxi service in Ras Al Khaimah by 2027.

Khalid Al-Falih, Saudi Arabia’s Investment Minister, met with Han Seong-suk, South Korea’s Minister for SMEs and Startups, in Seoul to discuss strategically building entrepreneurial environments.   

Subeeh Al-Mukhaizeem, Kuwait’s Minister of Electricity, Water, and Renewable Energy, said the government aims to add 14 gigawatts of power generation capacity by 2031.

Ali Al Najjar was named as CEO of UAE-based remittance and currency exchange provider Al Ansari Exchange.

🏀 Ball Game: Former NBA stars Oscar Robertson, Derrick Rose and Mark Jackson are jetting into Abu Dhabi this week to headline fan events for the American basketball league’s annual exhibition tournament in the UAE. The pre-season games at Yas Island’s Etihad Arena on Oct. 2 and 4 will pit the New York Knicks against the Philadelphia 76ers. Sponsoring the event are the ADQ sovereign wealth fund, Abu Dhabi’s Department of Culture and the NBA.

Sept. 29-30, Riyadh. Cultural Investment Conference. Arts practitioners, government officials, investors and diplomats gather for high-level discussions on culture as a strategic investment. King Fahd Cultural Center.

Sept. 30-Oct.1, Abu Dhabi. MENA Investment Congress. Hosted by the CFA Society in the UAE, the event brings together investors to discuss new strategies. Rosewood Hotel.

Sept. 30-Oct. 2, Abu Dhabi. Global Rail and Transport Infrastructure Exhibition and Conference. An international event dedicated to the rail transport sector. ADNEC.

Sept. 30-Oct.2, Dubai. WETEX. The region’s biggest exhibition dedicated to sustainability and clean energy technology. Dubai World Trade Center. 

Oct 1-2, Dubai. World Green Economy Summit. Supporting international cooperation in the face of pressing global challenges. Dubai World Trade Center.

Oct. 2, Dubai. Zawya GCC Capital Markets Forum. Bringing together top executives and financial institutions to discuss the region’s evolving equity and debt markets. Fairmont Dubai.

Oct. 4, Abu Dhabi. Syria recovery and investment forum. Influential business leaders, regional investors, policymakers and advisory experts explore practical avenues for engagement in Syria’s recovery. Sheraton Abu Dhabi.

Oct.6-7, Dubai. AGRA Middle East. The largest agricultural trade show in the region will showcase the latest agriculture trends, from smart farming to regenerative agriculture. Dubai World Trade Center.

Oct. 6-7, Dubai. The Forex Expo. The event includes a conference offering insights into the world of online trading products, including Forex, stocks, commodities, metals and more. Dubai World Trade Center.

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 13-17, Dubai. GITEX Global. The biggest tech and startup show in the world is back for its 45th edition, bringing together industry leaders, innovators and tech specialists to explore global change. Dubai World Trade Center.

Oct. 14-16, Dubai. Global Future Council. The event on the Future of Growth convenes senior economists and thought leaders from across academia, business, government and civil society to provide intellectual guidance on new approaches to growth. 

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.

DUBAI MATURES

Dubai’s property market is seductive, but a nagging question persists: When is it going to crash? The answer, according to The Economist, is it may not. Citing data that shows most homebuyers are middle-class migrants seeking better living conditions, business opportunities, and tax advantages, economic stability has increased. The worries “look overblown: demand is sticky, and builders have become more disciplined,” The Economist writes. “The emirate’s property market has at last grown up.”

QATAR TOUCHDOWN

Doha’s Hamad International Airport, the second busiest in the region, plans to increase its annual capacity by nearly 20% using the existing infrastructure. The strategy outlined by Chief Operating Officer Hamad Al-Khater contrasts with its rival Dubai International Airport, which is spending $35 billion on a new terminal to handle 260 million passengers. “We believe we can even fit 75 to 77 million passengers within the current footprint of the airport,” Al-Khater told Bloomberg. “It needs a lot of work, a lot of optimization, but that is our primary goal.” Last year, Doha’s airport handled some 53 million passengers, making it the tenth busiest airport in the world by international traffic, ahead of Bangkok, Madrid and Munich.

Public Investment Fund: Saudi Arabia’s PIF-backed jet leasing firm AviLease is in talks with banks for a debut dollar bond sale of at least $500 million, possibly launching by year-end, Reuters reports.

Abu Dhabi Investment Authority: Sheikh Tahnoon bin Zayed Al Nahyan, ADIA’s Chairman and the UAE National Security Adviser, led a meeting of the sovereign wealth fund’s board on Thursday. Attending the meeting were Sheikh Mansour bin Zayed Al Nahyan, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court; Sheikh Khaled bin Mohamed bin Zayed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council; and ADIA Managing Director Sheikh Hamed bin Zayed Al Nahyan.

ADNOC: XRG, an investment company set up by the UAE’s national oil company, and BlackRock’s Global Infrastructure Partners unit, closed their acquisition of an 11.7% stake in the first phase of the $18 billion Rio Grande liquefied natural gas project in Brownsville, Texas.

MGX: Oracle Corp., private equity firm Silver Lake and  Abu Dhabi’s MGX investment fund will control the largest stake in TikTok’s U.S. business, controlling roughly 45% of the company under a $14 billion deal arranged by the White House to buy the social media platform from China’s ByteDance, CNBC reports.

International Holding Co.: Syed Basar Shueb, CEO of the Abu Dhabi-owned conglomerate, led a company delegation to New York for the U.N. General Assembly that included Mariam bint Mohammed Almheiri, Group CEO of 2pointzero,  IHC’s Chief Strategy and Growth Officer Peter Abraam, International Resources Holding CEO Ali AlRashdi, and Ajay Bhatia, the CEO of Sirius International Holding.

📈Bond Return: Abu Dhabi is selling dollar-denominated bonds again, its first debt sale in more than a year, offering a 3-year note maturing in 2028 and a 10-year note due in 2035.

🚆Rail Upgrade: Morocco signed a 260 million euro contract ($303 million) with Paris-based Alstom to upgrade the country’s Kenitra–Settat railway.

💵 Green Capital: Binghatti Holding, one of the UAE’s fastest-growing real estate developers, raised $500 million through an oversubscribed three-year green sukuk bond offering to fund environmentally friendly projects.

🤝 Reviving Tourism: Syria signed $1.5 billion in contracts and agreements to revive its tourism sector through projects including hotels, resorts, entertainment cities, and historic site restoration.

💰Trade Deals: Saudi Arabia and China signed 42 investment deals worth over $1.7 billion across a range of industries, including smart vehicles, energy, medical devices and minerals at the Saudi-Chinese Business Forum this week in Beijing.

💼 Regional Expansion: Goldman Sachs executives said the investment bank aims to increase dealmaking and financing activity in the Middle East alongside its focus Europe’s infrastructure and M&A revival, as part of broader plans to drive growth outside the U.S., Bloomberg reports.

🏭 Wastewater Deal: Kuwait plans to sign a contract with China in mid-November to build the Gulf state’s largest wastewater treatment plant, Reuters reports.

🛢️Oil Exports: Iraq’s federal government and the Kurdistan region have agreed to end years of disputes by handing over most Kurdish crude to Iraq’s State Oil Marketing Organization for export through the Iraq–Turkey pipeline.

🌍 One Bloc: Saudi Arabia is likely to be the biggest beneficiary of a soon-to-be-approved GCC Unified Visa, which will streamline travel across all six Gulf states and boost the Kingdom’s tourism, business mobility and regional connectivity, Travel and Tour World magazine reports.

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, emphasized the importance of economic cooperation with other countries during  a series of meetings he joined on the sidelines of the U.N, General Assembly, including a gathering of G20 foreign envoys.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defense and Chairman of The Executive Council of Dubai, established the Dubai Civility Committee to be chaired by Mohammad Al Gergawi. The committee is tasked with supporting Dubai’s efforts to enhance its aesthetic ambiance and global image.

Abdulla Bin Touq Al Marri, UAE’s Economy Minister, said a free-trade agreement being negotiated with Canada could double trade between the two countries to $5 billion a year, speaking at a conference in Calgary on Thursday.

Muhammad Sulaiman Al Naqbi, the UAE Consul-General in Shanghai, said during the Digital Economy International Cooperation Matchmaking Conference that exports of electric vehicles from Zhejiang’s Ningbo port to the UAE surged nearly 272.97 % in H1 2025 to $505 million, making the UAE the port’s top export market for EVs.

🎭Comedy Capital: Kevin Hart, Dave Chappelle and Jimmy Carr are among the stars headlining the Riyadh Comedy Festival, which starts today. The event hits the stage with over 50 international comedians performing stand-up, satire, and sketch comedy. Organizers would like Saudi Arabia to be seen as a home for creativity, comedic talent and culture. The festival has generated controversy, however, because of international criticism of the kingdom’s human rights record. 

Sept. 29, Riyadh. Private Credit in Saudi Arabia. Jada Fund of Funds hosts a conference on how emerging asset classes can support private sector growth.

Sept. 30- Oct.1, Abu Dhabi. MENA Investment Congress. Hosted by the CFA Society in the UAE, the event brings together investors to discuss new strategies. Rosewood Hotel.

Sept. 30-Oct. 2, Abu Dhabi. Global Rail and Transport Infrastructure Exhibition and Conference. An international event dedicated to the rail transport sector. ADNEC.

Sept. 30-Oct.2, Dubai. WETEX. The region’s biggest exhibition dedicated to sustainability and clean energy technology. Dubai World Trade Center. 

Oct 1-2, Dubai. World Green Economy Summit. Supporting international cooperation in the face of pressing global challenges. Dubai World Trade Center.

Oct. 2, Dubai. Zawya GCC Capital Markets Forum. Bringing together top executives and financial institutions to discuss the region’s evolving equity and debt markets. Fairmont Dubai.

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 14-16, Dubai. Global Future Council. The event on the Future of Growth convenes senior economists and thought leaders from across academia, business, government and civil society to provide intellectual guidance on new approaches to growth. 

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.