WASHINGTON WELCOME

U.S. President Donald Trump will meet with Syria’s President Ahmed Al Sharaa at the White House today as the war-ravaged country seeks to raise more than $200 billion in Western and Gulf financing for reconstruction. U.S. officials say talks will focus on easing sanctions that currently prevent international banks and sovereign wealth funds from investing in Syria. The White House is conditioning any economic opening on political reforms, humanitarian access and assurances that Syria will curb Iranian influence and militias. Trump is also pushing Syria to join the 2020 Abraham Accords, which normalized Israel’s ties with the UAE, Bahrain and Morocco.

SAUDI HOSPITALITY

Saudi Arabia is hosting the U.N. World Tourism Organization’s General Assembly this week as it unveils a broader tourism strategy aimed at attracting mass-market travelers, not just high-end visitors. Saudi Tourism Minister Ahmed Al Khateeb said the shift marks a new phase in the government’s campaign to turn tourism into a major economic engine and draw 150 million visitors annually by the end of the decade. “We have already started building destinations for the middle class and upper middle class,” Al Khateeb told Reuters in an interview. “We will not ignore this segment.” Delegates from more than 150 countries are attending the event in Riyadh, where Saudi officials are promoting investments tied to sustainability, heritage preservation and new technologies such as artificial intelligence.

ADNOC Drilling: Enersol, an investment platform created by state-owned Adnoc Drilling and Alpha Dhabi, will seek to raise as much as $600 million in debt next year to fund acquisitions, Adnoc Drilling CFO Youssef Salem told The National.

ADNOC Global Trading: The UAE national oil company’s trading arm is preparing a major international push to increase its volumes by two-thirds and plans to open a Houston office in 2027, Bloomberg reports.

Abu Dhabi Investment Authority: Shares of Indian eyewear retailer Lenskart Solutions, backed by ADIA and SoftBank, swung between gains and losses in its trading debut after an $821 million IPO on Mumbai’s BSE exchange. The stock fell as much as 12% before rebounding and closing up 0.3%.

💰 Mall Megaproject: Kuwait-based developer Mabanee said it has expanded an existing loan and secured new financing totaling $1.6 billion for The Avenues Riyadh, upsizing to its current agreement with partner Shomoul Commercial Mall Company.

🎮 Tech Magnet: Gaming company Yalla said it will open a regional headquarters in Riyadh next year, joining almost 800 international companies that have opened Middle East bases in Saudi Arabia.

📈 Outlook Upgrade: S&P Global Ratings raised Israel’s outlook to stable from negative, citing reduced risks to the economy following a Gaza ceasefire, though it warned that political and security volatility could still disrupt growth and fiscal plans.

🚆 High-Speed Rail: Egypt began trial runs on a 2,000-km high-speed rail network that will connect major cities and ports as part of a multibillion-dollar infrastructure drive.

🛢️ Energy Trouble: The collapse of British oil and gas contractor Petrofac unfolded while it was handling more than $2.8 billion in UAE energy contracts.

⚒️ Iron Will: Shipments from Chinese steelmakers to Saudi Arabia rose by 41% year-on-year in the first nine months of 2025, Bloomberg reports. 

🔥 Shisha Shares: AIR, the Dubai-based owner of the Al Fakher tobacco brand used in water pipes, will trade its shares on the Nasdaq as part of a special purchase acquisition company deal with Cantor Fitzgerald that values the combined firm at $1.7 billion.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Deputy Prime Minister and Minister of Defense, led a high-level delegation taking part in Azerbaijan’s Victory Day celebrations on Saturday. He was greeted by Emin Amrullayev, Azerbaijan’s Minister of Science and Education, upon arrival.

Sheikh Theyab bin Mohamed, Deputy Chairman of the Presidential Court for Development and Affairs of Fallen Heroes, viewed the high-speed Shanghai Maglev Train during his visit to China.

Sheikh Dr. Sultan bin Mohammed Al Qasimi, Ruler of Sharjah, allocated $2 million to support the research and development efforts of the “Magdi Yacoub Valve” project, a medical breakthrough in heart surgery.

Vishal Wanchoo, CEO of Saudi Arabia’s planned industrial city Oxagon, told Arabian Gulf Business Insights that the Port of Neom, located within Oxagon, is set to become a new gateway for trade into Iraq and northern Saudi Arabia cutting transit times to Iraq by up to 12 days.

Dr. Anwar Gargash, Diplomatic Adviser to the UAE President, said on Monday that the UAE is unlikely to join the U.S.-led International Stabilization Force in Gaza.

Amadou Diallo was appointed CEO of Dubai-based Aramex Shipping Company. He previously served as CEO for the Middle East & Africa at DHL Global Forwarding.

Khaled Al-Fakes, CFO of Talabat, told Bloomberg that competition in the food delivery sector in the UAE was intense.

Ilya Korobov was appointed as Director of debt capital markets in Central and Eastern Europe, the Middle East and Africa at Deutsche Bank.

🎢 Thrill Seeker: Jimmy Donaldson, the 27-year-old YouTube star known as “MrBeast,” is opening a pop-up theme park this week as part of the Riyadh Season festival. Beast Land features games modeled after his videos, including “Tower Siege,” which involves catapulting balls into 60-foot long tubes, as well as more traditional rollercoasters and rides.

Nov. 5-16, Sharjah, UAE. Sharjah International Book Fair. A 12-day cultural and literary event attracting global publishers and literary stars. Expo Center Sharjah.  

Nov. 10-13, Abu Dhabi. Abu Dhabi Autonomous Week. The inaugural event combines a summit, showcase, RoboCup Asia-Pacific and autonomous racing. Yas Marina Circuit.

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. 19-20, Dubai. Knowledge Summit. A global platform for knowledge production in the service of sustainable development. Dubai World Trade Center. 

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. 4-5, Abu Dhabi. Milken Institute Middle East and Africa Summit. Investors, corporate executives and policymakers gather to discuss prospects for investment in the region. St. Regis Saadiyat Island. 

Dec. 7, Abu Dhabi. F1 Abu Dhabi Grand Prix 2025. The F1 season finale and one of the most hotly anticipated races in motorsport. Yas Marina Circuit. 

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.

Dec. 8-11, Abu Dhabi. Abu Dhabi Finance Week. The largest financial event in the region, brings together the world’s top minds to redefine and shape the future of global markets. The Grand Steps, Al Maryah Island.

FLIGHT DELAYS

UAE flag carrier Emirates said its expansion plans have been significantly set back because Boeing’s deliveries of more than 200 planes, which were originally expected in 2020, have been delayed to 2027. Emirates President Tim Clark told The National that the company is working to retrofit older aircraft and will have to fly its aging Airbus A380 fleet into the late 2030s. “It’s bad news for us,” Clark said. “It’s seven years after we expected it to happen.” The airline, which is owned by the Investment Corp. of Dubai, is preparing for the Dubai Airshow, one of the industry’s biggest arenas for dealmaking, which kicks off on Nov. 17.

CANAL REBOUND

Easing tensions in the Red Sea have delivered a boost to Egypt’s Suez Canal, with hundreds of ships returning to ply the global trade route in October. Canal revenues rose 14% year-on-year between July and October, with 4,405 ships carrying 185 million tons of cargo during the period. More than 200 ships returned to the canal in October, leading to the highest monthly total since Houthi attacks off Yemen sharply reduced traffic, Reuters reports. Lieutenant General Osama Rabie, Chairman of the Suez Canal Authority, said that the positive climate following last month’s Sharm el-Sheikh summit on Gaza’s future encouraged many carriers to return.Yemen’s Iran-aligned Houthis carried out over 100 attacks on ships in the Red Sea, Gulf of Aden, and Bab al-Mandab Strait, during 2023-2024.

ADQ: AD Ports, which is majority owned by ADQ, signed an agreement with Nimex Terminals valued at more than $8 billion to establish the UAE’s first private-sector terminal hubs for both liquified natural gas (LNG) and liquified petroleum gas (LPG).

Oman Investment Authority: Oman India Fertiliser Co., 50% owned by by Oman’s state energy firm OQ SAOC, a subsidiary of the OIA, has selected banks including Societe Generale, Arqaam Capital and Bank Muscat for a potential IPO in Muscat that could raise several hundred million dollars, Bloomberg reports.

Mubadala Capital: Melis Kahya, Managing Director and Head of Consumer for EMEA at General Atlantic, spoke during the Mubadala Capital Abu Dhabi Catalyst Partners Portfolio Day about howdigital-native consumers, entrepreneurial energy and increasingly sophisticated capital markets are shaping a new growth arc.

2PointZero: Mariam AlMheiri, CEO of 2PointZero, spoke to CNN’s Becky Anderson during ADIPEC about the investment company’s aggressive growth strategy.

🤝 Gulf Deals: Bahrain signed over 60 investment deals worth $17 billion at the Gateway Gulf 2025 forum in Manama, supporting investment in five key non-oil sectors.

💰 Bonds Sales: Qatar raised $4 billion in a two-tranche bond sale that drew strong demand, enabling the LNG exporter to secure better-than-expected pricing on a $1 billion three-year bond and a $3 billion 10-year Islamic bond, Reuters reports.

⛽ Shell Game: Abu Dhabi’s ADNOC Gas signed a 15-year agreement to supply Shell with up to 1 million tons of liquefied natural gas annually from its Ruwais project.

🏎️ Car Production: Egypt has begun building the MAC Automotive plant near Cairo, with the factory set to produce 50,000 vehicles annually at launch and expand to 100,000 within five years.

🔒 Threat Detection: Daylight, an Israeli cybersecurity startup that uses AI to detect and respond to digital threats, raised $33 million in a Series A funding round led by Craft Ventures. 

🎓 Funding Education: Varkey Group, the holding company controlled by the Dubai-based Indian family behind GEMS Education, is in talks to raise about $400 million in debt financing, Bloomberg reports.

⛽ On the Go: ADNOC Distribution will launch The Hub, a new concept that combines service stations with ultra fast EV charging, dining and entertainment options.

👨🏼‍💼 New Business: Egypt launched a new global tender by the state-owned South Valley Egyptian Petroleum Holding Company, for oil and gas exploration in four Red Sea regions.

🏢 Fast Approach: Bentley Reid, a U.K.-based wealth manager, has opened a new office in the Dubai International Financial Centre, with CEO Peter Clark relocating to lead the expansion.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, met with Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, UAE Deputy Prime Minister and Minister of Defense, and Chairman of The Executive Council of Dubai, on the sidelines of the UAE Government Annual Meetings.

Sheikh Hamdan bin Mohammed approved a series of plans and policies to help make Dubai the “world’s best” city.

Sheikh Zayed bin Mohamed met with Ratu Naiqama Lalabalavu, President of Fiji, at Wahat Al Karama in Abu Dhabi as part of an official visit to the UAE.

Sheikh Mansoor bin Mohammed, President of the UAE National Olympic Committee, inaugurated the $100 million GEMS School of Research and Innovation in Dubai Sports City.

Sheikha Latifa bint Mohammed, Chairperson of Dubai Culture and Arts Authority, met with key government and private sector partners to review the latest progress and preparations for the upcoming 27th General Conference of the International Council of Museums which will take place in Dubai from Nov.11-17.

Syrian President Ahmed Al Sharaa will meet U.S. President Donald Trump at the White House on Monday next week for talks on U.S.-Syria diplomatic ties and regional stability.

Bandar Alkhorayef, Saudi Arabia’s Minister of Industry and Mineral Resources and Board Chairman of the National Industrial Development Centre, chaired a meeting of the centre with a delegation of more than 30 Chinese companies to discuss high-value investments. 

Selim Kervanci, CEO of Middle East North Africa and Turkey for HSBC, told Zawya that specific project bonds could help Saudi Arabia in its need for funding to continue on this ambitious transformation plan. 

Michael Eisenberg, Co-Founder and General Partner at Tel Aviv-based venture capital firm Aleph, Bilal Baloch, a partner at UAE’s Shorooq, and Chris Arsenault, Co-Founder and partner at Inovia Capital in Montreal, were on a panel discussing VC investment in the Middle East and North America that was recorded at the FII conference in Riyadh last week.

🏘️ Coming Together: At this year’s Dubai Design Week, running until Nov. 9, the spotlight is firmly fixed on community and sustainability, with architects and artists reimagining shared spaces through courtyards, teahouses and greenhouses. Installations across Dubai Design District draw on local and global traditions — from an Emirati house to a Japanese-style teahouse — to encourage connection and reflection, The National reports.

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. 5-16, Sharjah, UAE. Sharjah International Book Fair. A 12-day cultural and literary event attracting global publishers and literary stars. Expo Center Sharjah.  

Nov. 10. Abu Dhabi. Abu Dhabi Autonomous Summit. The flagship platform of the inaugural Abu Dhabi Autonomous Week, convening global leaders to define the next chapter of smart and autonomous mobility. Yas Marina Circuit.

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. 19-20, Dubai. Knowledge Summit. A global platform for knowledge production in the service of sustainable development. Dubai World Trade Center. 

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. 4-5, Abu Dhabi. Milken Institute Middle East and Africa Summit. Investors, corporate executives and policymakers gather to discuss prospects for investment in the region. St. Regis Saadiyat Island. 

Dec. 7, Abu Dhabi. F1 Abu Dhabi Grand Prix 2025. The F1 season finale and one of the most hotly anticipated races in motorsport. Yas Marina Circuit. 

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.

Dec. 8-11, Abu Dhabi. Abu Dhabi Finance Week. The largest financial event in the region, brings together the world’s top minds to redefine and shape the future of global markets. The Grand Steps, Al Maryah Island.

SLICK PROFITS

Aramco posted a 0.9% increase in third-quarter profit on Tuesday, beating analyst expectations and signaling that Opec+ production hikes have helped the world’s biggest oil exporter mitigate lower prices. The result broke a streak of declining profits over the past 10 quarters, Bloomberg reports. Aramco reported adjusted net income of SAR104.92 billion ($27.9 billion) and maintained its dividend at SAR80.1 billion ($21.4 billion). Aramco’s dividend payouts underpin Saudi Arabia’s economy and support its ambitious transformation agenda. The company was forced to slash its annual dividend forecast by almost 30% earlier this year, pushing the kingdom to plug its budget gap with near-record bond issuances.

EXPENSIVE CLUBS

Dubai’s golf scene is heating up with green fees having nearly doubled in two years amid  rising costs for water, equipment and maintenance. “It’s not that someone suddenly decided to increase green fees to make more money,” Chris May, CEO of Dubai Golf, told Arabian Business Gulf Insight. “The cost of operating golf courses around the world has gone up significantly.” Dubai boasts 13 courses, including three DP World Tour venues – Dubai Creek, Emirates Golf Club’s Majlis Course and Jumeirah Golf Estates. According to May, the city has roughly 20,000 active local golfers, with some clubs seeing up to 60,000 rounds played each year.

Public Investment Fund: The Saudi sovereign wealth fund signed a draft agreement with Jones Lang Lasalle aimed at strengthening the kingdom’s real estate ecosystem.

ACWA Power: The PIF-owned energy company signed a preliminary agreement to explore developing sustainable energy and water infrastructure for the sovereign wealth fund’s local real estate companies.

Abu Dhabi Investment Authority: The parent of Groww, India’s largest online broker, raised 30 billion rupees ($338 million) from 102 anchor investors that included ADIA, Goldman Sachs Group Inc., Morgan Stanley, HSBC Holdings Plc and Singapore’s government, Bloomberg reports.

G42: Oracle Health and M42 will integrate data from the Emirati Genome Programme1 directly into the electronic health record to advance healthy longevity and disease prevention.

Mubadala: Abu Dhabi-based Waha VAS Limited, a subsidiary of Mubadala-backed Waha Capital, has fully exited its stake in AI fintech Optasia following the company’s Johannesburg Stock Exchange listing, generating $119 million in proceeds.

🏗️ Dubai Development: Real estate firm Refine unveiled a $4.9 billion project pipeline in Dubai that includes eight developments delivering more than 3,000 residential units across prime locations in the emirate. 

🩺 Missed Calls: Israeli startup Popai Health raised $11 million from Team8 and NEA to use voice AI that converts patient phone calls into actionable medical data, targeting the 15 million daily healthcare calls that typically go unanalyzed. 

💰 Funding Knowledge: Knowledge Economic City Company said its subsidiary, Algharraa International Co., signed two infrastructure development contracts worth $39.7 million for the first phase of the Islamic World Avenue District project in Medina.

🌐 Biometric Boarding: Emirates will invest $23 million in facial recognition systems at Dubai International Airport to speed passenger processing and enhance airport security.

⛏️ New Digs: Twelve mining companies qualified for the second round of Saudi Arabia’s exploration program, earning preliminary approval for 38 licenses and $179.3 million in commitments.

🪙 Crypto Crackdown: ADGM has updated its digital assets rulebook, granting the regulatory authority the power to suspend financial services licenses for up to 12 months and expanding misconduct rules.

🚁 Cabin Rides: The UAE’s aviation regulator expects to complete air taxi certification by the third quarter of 2026, according to Saif Al Suwaidi, director general of the General Civil Aviation Authority.

🧑‍⚖️ In the Dock: French cement giant Lafarge and eight former executives will stand trial in Paris from Nov. 4 over decade-old allegations of aiding terrorism and crimes against humanity in Syria.

💼 Opening Shop: Geneva-based Union Bancaire Privée has opened an office in Saudi Arabia and appointed Mishal Alhawas as its CEO and head of advising for the kingdom, Bloomberg reports. 

Saudi Arabia’s Crown Prince Mohammed bin Salman’s White House visit with U.S. President Donald Trump has been scheduled for Nov.18, Reuters reports.

Qatar’s Emir Sheikh Tamim met with King Philippe of Belgium in Doha on Monday. King Philippe is participating in the second World Summit for Social Development, beginning in Doha today.

Lebanon’s President Joseph Aoun said on Monday that he is committed to negotiate with Israel using diplomatic language, adding that his country had “no option” in the matter.

Sheikh Theyab bin Mohamed, Deputy Chairman of the Presidential Court for Development and Fallen Heroes’ Affairs, will lead the UAE delegation to Shanghai to take part in China International Import Expo 2025.

Suhail Al Mazrouei, UAE Minister of Energy and Infrastructure, told the crowd at ADIPEC that there is no oversupply of oil in the market, adding that demand remains strong due to the AI and data center boom.

Andrea Bono was appointed CEO of India, Middle East, and Africa at Marsh McLennan.

Dominic Arel was appointed Vice President of Operations for the Middle East at United Hospitality Management.

🕶️ Star Power: Hollywood actor Will Smith will has been announced as a speaker at the UAE’s Sharjah International Book Fair, joining a roster of literary figures including Nigerian author Chimamanda Ngozi Adichie, Italian physicist Carlo Rovelli and Irish novelist Paul Lynch. The “Men in Black” star will appear on stage on Nov. 14. The festival, now in its 44th year, is a major event for the publishing industry, attracting thousands of book sellers and publishers and some of the world’s greatest writers. This year’s festival runs from Nov. 5 to Nov. 16.

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. 5-16, Sharjah, UAE. Sharjah International Book Fair. A 12-day cultural and literary event attracting global publishers and literary stars. Expo Center Sharjah.  

Nov. 10. Abu Dhabi. Abu Dhabi Autonomous Summit. The flagship platform of the inaugural Abu Dhabi Autonomous Week, convening global leaders to define the next chapter of smart and autonomous mobility. Yas Marina Circuit.

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. 19-20, Dubai. Knowledge Summit. A global platform for knowledge production in the service of sustainable development. Dubai World Trade Center. 

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. 4-5, Abu Dhabi. Milken Institute Middle East and Africa Summit. Investors, corporate executives and policymakers gather to discuss prospects for investment in the region. St. Regis Saadiyat Island. 

Dec. 7, Abu Dhabi. F1 Abu Dhabi Grand Prix 2025. The F1 season finale and one of the most hotly anticipated races in motorsport. Yas Marina Circuit. 

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.

Dec. 8-11, Abu Dhabi. Abu Dhabi Finance Week. The largest financial event in the region, brings together the world’s top minds to redefine and shape the future of global markets. The Grand Steps, Al Maryah Island.

OVER A BARREL

Opec+ will pause plans to increase oil production next year, amid rising fears of an oil glut among industry bosses. The eight-member producers group said on Sunday that it would halt any further rises in January, February and March, after adding another 137,000 barrels a day of crude in December. The pause was attributed to seasonality – as oil demand in the first quarter of the year is usually weaker – but comes after Shell CEO Wael Sawan last week warned of a “credible scenario” of an oversupply next year. He joined a growing number of voices in the industry raising concerns, with the market skeptical that U.S. sanctions on Russian oil will seriously impede Moscow’s trade, the Financial Times reports.

ELECTRIC DRIVE

French automaker Renault signed an agreement to produce electric vehicles in Morocco starting 2030 as it seeks to expand exports to African markets. The company, which operates plants in Tangier and near Casablanca, produced 413,000 vehicles in 2024, 90% of which were exported under the “Made in Morocco” label, Arabian Gulf Business Insight reports. The deal is expected to create about 7,500 jobs and add a new EV line to Renault’s existing models. Rival Stellantis runs a factory in Kenitra, while China’s Gotion High Tech plans to build a battery plant in the country.

Abu Dhabi Investment Authority: The Mumbai IPO of Lenskart Solutions, which is backed by ADIA, sold out in less than five hours on Friday, raising $821 million, Bloomberg reports. 

Aramco: Saudi chemicals giant Sabic, majority owned by Aramco, said the Engineering, Procurement, and Construction work on its $6.4 billion Fujian complex in China is 87% complete. 

Adnoc: XRG, the international energy investment platform of Abu Dhabi’s national oil company, has agreed to purchase a stake in Azerbaijan’s Southern Gas Corridor, The National reports.

Mumtalakat: Masar Group, a unit of Bahrain’s sovereign wealth fund, is teaming up with UAE-based The Captain’s Club to launch the country’s first membership-based boat club.

✈️ New Fleet: HSBC financed six Airbus A350-900 aircraft for Emirates, completing five through  a structure that lets airlines lease aircraft from Japanese investors with an option to buy them later.

🏭 Carbon Capture: QatarEnergy has awarded a contract to South Korea’s Samsung C&T for a carbon capture and sequestration project at Ras Laffan that will capture up to 4 million tonnes of CO₂ annually.

🏝️ Building Blocks: SKH Private Family Office and Rotana announced a $136 million acquisition and redevelopment of The Cove Rotana Resort in Ras Al Khaimah.

🧳 Flying Hub: Malaysian carrier AirAsia is set to sign a deal to establish a Middle East hub in Bahrain, Bloomberg reports. 

🛢️ Oil Search: Dragon Oil, a subsidiary of Dubai’s Emirates National Oil Co., signed a preliminary agreement with Malaysia’s Petronas to collaborate in oil and gas exploration. 

🏢 Dubai Hotel: British luxury hotel operator Maybourne is in talks with billionaire developer Nick Candy on a potential branded residence partnership in the UAE, with CEO Marc Socker citing their strong alignment.

📈 IPO Ambition: Almasar Alshamil Education set a price range for its upcoming IPO on the Riyadh Stock Exchange that values the offering at up to $160 million.

🦊 Animal Arrest: Sharjah police arrested a man in a sting operation targeting illegal wildlife trade, seizing endangered animals including lynxes and foxes that were later released into reserves.

UAE President Sheikh Mohamed bin Zayed raised the country’s flag at Qasr Al Hosn in Abu Dhabi on Monday to mark the nation’s Flag Day.

Sheikh Khaled bin Mohamed attended the official opening ceremony of the Grand Egyptian Museum in Giza on Saturday. On Monday, he raised the UAE flag at Zayed National Museum to mark Flag Day.

Syrian President Ahmad Al Sharaa is expected to visit Washington soon in what would mark the first American visit by a Syrian leader in decades, Reuters reports.

Stephen Carter, CEO of Informa, has relocated his residency from the U.K. to the UAE, as the British events company expands operations in the Middle East, The National reports.

Asaad Al Shaibani, Syria’s Minister of Foreign Affairs and Expatriates, met with Dr. Anwar Gargash, Diplomatic Adviser to the UAE President, on the sidelines of the Manama Dialogue in Bahrain on Sunday.

Dr. Anwar Gargash said on Sunday that the international community made a mistake by failing to stop Sudan’s 2021 military takeover.

Badr bin Hamad Al Busaidi, Foreign Minister of Oman, urged Gulf Arab states to deepen ties with Iran and include it in an expanded regional defense and security architecture, signaling Muscat’s push for greater dialogue amid ongoing Middle East tensions.

Jasim Al Awadi, Chief Information and Communications Technology Officer at du, told The National that UAE residents can now mine for bitcoin by renting the required computational power on a subscription basis.

🎉 Grand Opening: Egypt finally declared its $1 billion flagship museum open on Saturday night with a glitzy ceremony topped off by a drone show and fireworks lighting up the skies over Cairo. The Grand Egyptian Museum has been two decades in the making, with works delayed on multiple occasions, including during the Arab Spring uprising and the Covid-19 pandemic. An exuberant President Abdel-Fattah El-Sisi, who was joined on stage by dozens of world leaders and royalty during the ceremony, described the museum as a “living testament to the genius of the Egyptian” individual. The museum, which houses more than 100,000 artifacts including the treasures from the tomb of King Tutankhamun, is key to Egypt’s goal of attracting 30 million tourists a year 2031.

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. Abu Dhabi. Abu Dhabi Autonomous Summit. The flagship platform of the inaugural Abu Dhabi Autonomous Week, convening global leaders to define the next chapter of smart and autonomous mobility. Yas Marina Circuit.

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. 19-20, Dubai. Knowledge Summit. A global platform for knowledge production in the service of sustainable development. Dubai World Trade Center. 

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. 4-5, Abu Dhabi. Milken Institute Middle East and Africa Summit. Investors, corporate executives and policymakers gather to discuss prospects for investment in the region. St. Regis Saadiyat Island. 

Dec. 7, Abu Dhabi. F1 Abu Dhabi Grand Prix 2025. The F1 season finale and one of the most hotly anticipated races in motorsport. Yas Marina Circuit. 

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.

Dec. 8-11, Abu Dhabi. Abu Dhabi Finance Week. The largest financial event in the region, brings together the world’s top minds to redefine and shape the future of global markets. The Grand Steps, Al Maryah Island.

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.

UNICORN BILLIONS

Tabby, the buy-now-pay-later firm headquartered in Riyadh, has hit a valuation of $4.5 billion after completing a secondary share sale. Existing shareholders sold stakes to investors including Hong Kong-based venture capital firm HSG and Chinese private equity firm Boyu Capital. Tabby, which is backed by Abu Dhabi sovereign wealth fund Mubadala, has been working towards an IPO, but did not give an update on a potential date. One of the Gulf’s fastest growing startups, the fintech unicorn was previously valued at $3.3 billion in February, when it raised $160 million in a Series E financing round.

RICH KIDS

Dubai-based school operator GEMS Education is planning to launch a school for the uber-rich in Abu Dhabi, amid a boom in multi-millionaires moving to the UAE capital, The National reports. GEMS, which is backed by Brookfield Asset Management, opened the UAE’s most expensive school in Dubai this year. The $100 million Gems School of Research and Innovation in Dubai Sports City has an elevated helipad that doubles as a football field and an Olympic-size swimming pool. Its fees range from $31,586 to $56,092 for pupils from foundation stage one to year 12. GEMS Education CEO Dino Varkey told the newspaper on the sidelines of the FII conference in Riyadh that the “significant reallocation of high-income families” to the UAE supported the case for a similar school in the UAE capital.

Kuwait Investment Authority: Goldman Sachs is competing with other investment firms to manage $10 billion from Kuwait’s sovereign wealth fund, allocated largely toward Goldman’s private equity, credit and infrastructure funds, Bloomberg reports.

Masdar: Saudi Arabia awarded contracts for five renewable energy projects totaling 4.5 gigawatts and investments exceeding $2 billion to several companies including Abu Dhabi-owned Masdar, TotalEnergies and EDF.

Public Investment Fund: Bahrain’s Investcorp, the biggest alternative asset manager in the Middle East, is in talks with Saudi Arabia’s sovereign fund to explore investment opportunities in the kingdom’s airports, Yusef Al Yusef, Global Head of Distribution at Investcorp, told Asharq News.

G42: Presight, the Abu Dhabi-listed artificial intelligence company which is majority owned by G42, is establishing an R&D laboratory in Kazakhstan to focus on advanced solutions in artificial intelligence, data analytics and digital governance.

Mubadala: M42, a global health provider owned by both G42 and Mubadala, announced the incorporation of M42 Saudi Arabia during the Global Health Exhibition in Riyadh.

Adnoc: Subsidiary Adnoc Drilling increased its third-quarter dividend payout by 15% to $250 million, after revenues surged 23% to $1.3 billion.

🏘️ Taking Off: Abu Dhabi developer Aldar Properties is investing $1 billion in a series of new develop-to-hold properties surrounding the emirate’s airport, The National reports. 

🧊 Cool Deal: Dubai-based district cooling company Tabreed raised $490 million in new Islamic compliant bank debt from Emirates NBD and Mashreq.

💺 Flying Crafts: Emirates NBD has financed two Airbus A321neo aircraft for IndiGo as part of the airline’s push to expand its domestic and international fleet.

🚂 Desert Dream: Saudi Arabia unveiled its luxury train, the “Dream of the Desert,” developed with Italy’s Arsenale Group and several Saudi agencies to promote upscale tourism.

✈️ Delta Direct: Delta Air Lines said it will launch nonstop flights between Atlanta and Riyadh next year, making it the first major American carrier to enter the kingdom’s expanding aviation market.

📈 Trade Off: Saudi Arabia will now allow foreign investors to keep trading even after leaving the Gulf, following its initial move to open the stock exchange to residents in July.

💰 Street Smart: U.S. financial services giant State Street Corporation has launched a regional headquarters in Riyadh, where it already has $60 billion of assets under management for clients in the kingdom.

🎫 Lucky Millionaire: A 29-year-old Indian resident of Abu Dhabi has won Dh100 million ($27 million) the UAE Lottery, the highest amount since the country authorized the draw under new gaming laws late last year.

Saudi Crown Prince Mohammed bin Salman met leaders from Kosovo, Guyana, Bulgaria, Mauritania, Rwanda, Pakistan, Montenegro and Albania in Riyadh on Monday ahead of the FII summit.

Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai, said on Monday that the UAE Cabinet approved a record budget for fiscal year 2026, with expected revenues and expenditures at Dh92.4 billion ($25.2 billion), nearly 30 per cent higher than the previous year.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, met with Mike Sicilia, Co-CEO of Oracle, in Abu Dhabi on Monday.

Sheikh Tahnoon bin Zayed, UAE Vice President and National Security Advisor, held a meeting on Monday with Dana White, President and CEO of the UFC, to discuss the country’s role in expanding mixed martial arts across the Middle East.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Deputy Prime Minister and Minister of Defense, witnessed the signing of a series of bilateral agreements and partnerships at the Asia-Pacific Cities Summit and Mayors’ Forum 2025 at Expo City Dubai on Monday.

Sheikh Jassim bin Mansour bin Jabor Al-Thani, Director of Qatar’s Government Communications Office, attended the opening of U.S. social media company Snap Inc.’s new office in Doha, along with Snap Inc. CEO and Founder Evan Spiegel.

Sheikha Latifa bint Mohammed, Chairperson of Dubai Culture and Arts Authority, inaugurated Beautyworld Middle East at the Dubai World Trade Centre on Monday.

Hamad Obaid Al Zaabi presented his credentials as Ambassador of the UAE to Egypt to Egyptian President Abdel Fattah El-Sisi, at Al-Ittihadiya Palace in Cairo on Monday.

Abdulla bin Touq Al Marri, UAE Minister of Economy and Tourism, said on the sidelines of the UAE-Africa Tourism Investment Summit 2025 in Dubai that the UAE is consolidating its position as one of Africa’s key strategic partners, with investment opportunities worth more than $6 billion featured at the event.

Ziad El Chaar, CEO of Dar Global, the London-listed Saudi developer which is building the $545 million Trump Tower Dubai, criticized international skepticism over the kingdom’s megaprojects in an interview with Arabian Gulf Business Insight. “It’s not really fair to get this coverage,” he said. “Why are Arabs not allowed to dream?”

Rachel Reeves, the U.K. Chancellor of the Exchequer told the Fortune Global Summit in Riyadh that an agreement on a U.K.-GCC trade deal was a priority for her government and she was “confident we can get that deal over the line.”

Abdeslam Alaoui, Managing Director and Head of CEEMEA Capital Markets at Deutsche Bank, told Zawya that the bank is actively expanding its Investment Banking division in the region.

Arif Khan was appointed Senior Executive Officer for the Middle East at U.K.-based Crown Agents Bank, which just received approval to operate from Abu Dhabi.

⛵ Flying High: SailGP, the high-speed sailing league sponsored by Rolex, will bring its foiling catamarans back to the UAE for the Mubadala Abu Dhabi Sail Grand Prix 2025 Season Grand Final on Nov. 29-30. The two-day competition will see national teams race at speeds topping 100 kph off the city’s Corniche. SailGP, the brainchild of former America’s Cup winner and Oracle founder Larry Ellison and champion sailor Sir Russell Coutts, first launched in 2019 and has rapidly expanded to 12 national teams and 12 events this year. It has attracted a host of high-profile competitors and investors, including Hollywood actors Ryan Reynolds and Hugh Jackman and F1 champion Sebastian Vettel.

Oct. 27–Oct. 29, Dubai. Asia Pacific Cities & Mayors Forum. The forum tackles sustainable development of cities. Dubai Exhibition Center.

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.

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.

VOICE CONTROL

Humain, the AI startup backed by Saudi Arabia’s Public Investment Fund, is planning to launch a voice-controlled computer operating system this week. Humain 1 was created as an alternative to the mouse or touch-based systems, predominantly Windows and macOS, which have been used to operate personal computers in various forms since the 1980s. “Rather than looking at icons where you click for discrete applications, now you (…) speak your intent,” Humain CEO Tareq Amin said at the Fortune Global Forum in Riyadh. Humain has been testing the operating system internally for its own payroll and Human Resources systems, Reuters reports.

UPSCALE IRAQ

Dubai-based developer Damac Properties has unveiled Damac Hills Baghdad, a luxury residential project five minutes from Baghdad International Airport, marking the Dubai developer’s renewed push into Iraq. The first phase features three upscale clusters named Misk, Fayrouz and Lamar. Spanning 6.2 million square metres, the development will offer four- and five-bedroom luxury villas inspired by Iraq’s rich architectural heritage. The new gated community will feature central parks, a health club, leisure areas, restaurants, cafés, a modern water supply network, an on-site power substation and solar-powered heating.

Public Investment Fund: Saudi Arabia’s AlUla is launching a global investor roadshow to raise $1.6 billion for 21 tourism projects, including luxury hotels, wellness facilities, restaurants, adventure projects and infrastructure, Phillip Jones, Chief Tourism Officer at the Royal Commission for AlUla, told The National.

Red Sea Global: The luxury resort developer owned by the PIF said funding is secure and its projects will be unaffected by government spending cuts, The National reports.

ADQ: Noatum Logistics, a subsidiary of AD Ports Group, which is majority owned by ADQ, will establish a freight rail service between Oman and Abu Dhabi in partnership with Hafeet Rail.

G42: U.S. intelligence found in 2022 that UAE AI group G42 supplied Huawei technology allegedly used by China to extend the range of its air-to-air missiles, enhancing its fighter jets over U.S. aircraft, The Financial Times reports.

Abu Dhabi Investment Authority: The Mumbai IPO of Lenskart Solutions, which is backed by ADIA, will take place on Oct. 30 and is expected to raise as much as $828 million.

Mumtalakat: SandboxAQ, a U.S.-based AI and quantum technology firm, signed an agreement with Bahrain’s sovereign wealth fund on Monday to speed up the development of pharmaceutical drugs and create biotech assets worth $1 billion.

🌊 Sea Cable: Syria’s telecoms ministry signed an agreement with Barcelona-based Medusa Submarine Cable System to land the country’s first international undersea cable, part of a system linking 12 North African and southern European countries.

💵 Financial Merger: U.S. investment bank Piper Sandler agreed to acquire Abu Dhabi–based merchant bank MENA Growth Partners to establish a strategic hub in the Gulf.

₿ Sports Crypto: Dubai-based Multibank Group has formed a joint venture with UFC champion Khabib Nurmagomedov to launch MultiBank Khabib LLC, a  tokenized sports ecosystem.

🛢️ Oil Finds: QatarEnergy has acquiried a 40% participating interest in an offshore exploration block in Egypt from Eni.

🏦 Saudi HQ: Citigroup announced the opening of its new regional headquarters in Riyadh, consolidating its Saudi operation in the landmark Kingdom Tower.

⛽ Trade Tensions: The U.S. and Qatar warned the European Union that new climate and human rights rules could threaten energy investments and supply security, The Financial Times reports.

💰 New Finance: The UAE has launched a new digital initiative allowing individuals to invest in Islamic-compliant government bonds, as part of efforts to broaden its investor base.

🚗 No Hands: U.S. car company Tensor is bringing its fully self-driving private vehicles, which have no steering wheel, to the UAE, Arabian Gulf Business Insights reports.

💵 Capital Relief: First Abu Dhabi Bank and Abu Dhabi Commercial Bank are exploring significant-risk-transfer deals to manage rising capital requirements, Bloomberg reports. 

UAE President Sheikh Mohamed bin Zayed attended a wedding reception hosted by Faisal Abdulaziz Al Bannai, Secretary General of Abu Dhabi’s Advanced Technology Research Council and Advisor to the UAE President for Strategic Research and Advanced Technology Affairs, to celebrate the marriages of his sons. Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, also attended the ceremony, which was held at the Erth Ballroom in Abu Dhabi.

Qatar’s Emir Sheikh Tamim and Prime Minister Sheikh Mohammed bin Abdulrahman met U.S. President Donald Trump on board Air Force One during a refueling stop at Al-Udeid Air Base in Qatar on Saturday. Trump was on his way to Malaysia for the ASEAN summit. 

King Hamad of Bahrain held a meeting with Saudi Minister of State Prince Turki bin Mohammed bin Fahd bin Abdulaziz at Al-Safriya Palace in Manama on Sunday.

Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah, Kuwait’s Prime Minister, attended the launching ceremony of the new Control Tower and Third Runway at Kuwait International Airport.

Khaled al-Falih, Saudi Arabia’s Minister of Investment, said that the kingdom plans to recognize Barclays’ regional headquarters in Riyadh in a “couple of days,” Reuters reports.

Noura Al Kaabi, UAE Minister of State, and A. Amarnath, Charge d’Affaires of the Embassy of India to the UAE, attended Emirates Loves India, an event celebrating India which drew 100,000 people from the community. 

Nabeel Mustafa was appointed Group Chief Operating Officer at the National Bank of Bahrain.

🎨 Reflective Art: A new “floating” art museum designed by Japanese architect Tadao Ando will be built above the waters of Dubai Creek. Rising five stories, the Dubai Museum of Art will feature galleries on the first and second floors and a restaurant and VIP lounge on the third floor, The National reports. Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, announced the first details of the museum’s construction on Saturday, after inspecting models developed by Al Futtaim Group.

Oct. 27–Oct. 29, Dubai. Asia Pacific Cities & Mayors Forum. The forum tackles sustainable development of cities. Dubai Exhibition Center.

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.

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.

DESERT MASTERS

Saudi Arabia has signed a deal with the ATP Tour to host a new top-tier men’s tennis tournament, expected to start as early as 2028. The new tournament, sponsored by PIF-backed SURJ Sports Investment, will be the 10th Masters 1000 event on the schedule. It is expected to take place early in the year between the Australian Open and the “Sunshine Double” events in Indian Wells and Miami in March. The PIF, which became the ATP’s official naming partner in 2024, has a long-term ambition to shape the future of tennis and global sport. Last week Riyadh hosted the second edition of the Six Kings Slam, a flashy exhibition event for six top male tennis stars which is live-streamed on Netflix and features wrestling-style walk out music, holograms of players and the biggest prize money in the sport, with the winner taking home $6 million.

BRENT BOOST

Reliance Industries, India’s biggest importer of Russian oil, has snapped up millions of barrels of Middle Eastern and U.S. crude after Washington sanctioned Russian producers. The refiner bought grades including Saudi Khafji, Iraq’s Basrah Medium, Qatar’s Al-Shaheen and U.S. WTI for delivery in December or January, Bloomberg reports. Oil prices jumped for a second day after the U.S. imposed sweeping sanctions on Russia’s top oil producers, with Treasury Secretary Scott Bessent denouncing Russian President Vladimir Putin’s war in Ukraine as “senseless.” Brent rose 4.8% to $65.60 a barrel on Thursday evening. The measures target Lukoil and Rosneft and extend to any entity they control by 50% or more.

Mubadala Capital: The alternative assets arm of the Abu Dhabi sovereign fund led a $1.4 billion funding round for Colorado-based data centre start-up Crusoe, which tripled its valuation to $10 billion, The Financial Times reports.

ADQ: The U.S. International Development Finance Corporation has joined a critical minerals consortium backed by Abu Dhabi sovereign fund ADQ and Orion Resource Partners, increasing the size of the fund to $1.8 billion.

ADQ: Mike Ho, CEO of American Bitcoin, the crypto miner backed by U.S. President Donald Trump’s sons Eric and Donald Trump Jr., told Arabian Gulf Business Insights that the company had discussions with ADQ and energy company Taqa on expanding in the UAE.

Masdar: Renewable energy megaprojects in the UAE, such as a new $6 billion round-the-clock renewable energy plant, are expected to accelerate growth of AI and data centers by meeting their rising electricity demand, according to Masdar’s Director of Business and Project Development Abdulla Zayed.

Public Investment Fund: PIF-backed EVIQ has partnered with Arabian Petroleum Supply Co. to deploy over 5,000 fast EV chargers nationwide in Saudi Arabia by 2030.

Public Investment Fund: PIF-backed mining company Maaden awarded a contract worth $104 million to U.S.-based Bechtel for its Ar Rjum gold mine, located in the Mecca Province.

Aramco: Wa’ed Ventures, the Saudi Aramco-backed $500 million venture capital fund, led a $10 million funding round for Kure Cells, a U.S. biotechnology company working on cancer therapies.

🏭 Concrete Relationship: Ras Al Khaimah-based Gulf Cement Company and the Italian cement firm Buzzi Unicem have merged. 

⛽ Petro Partnership: The Suez Canal Authority and Anchorage Investments signed a $2 billion partnership for a petrochemical complex in Egypt’s SCZONE.

🐄 Future Food: Abu Dhabi Investment Office signed a strategic partnership with two global protein companies, The Every Company and Vivici, to set up an industrial scale fermentation center for producing alternative proteins.

💰 Riviera Riches: The family office of Qatar’s former ruler Sheikh Hamad bin Khalifa Al Thani has been recruiting a multi-strategy team in Monaco and London to build an “institutional-grade” unit for his multibillion-dollar fortune, Bloomberg reports. 

🏘️ Riyadh Arrival: Houston-based real estate giant Hines is recruiting staff for a new office in Riyadh, where it will focus on industrial, office and mixed-use projects, Bloomberg reports. 

✈️ Turbulent Time: Bahrain’s stalled proposal to privatize Gulf Air is expected to return to parliament next week, though experts doubt it will rescue the struggling airline after lawmakers narrowly failed to secure enough votes to advance it.

🛎️ Room Rivals: Dubai now has more hotel rooms than Las Vegas, having doubled its hotel capacity over the past decade, with both cities sharing similarities in large events, favorable winter weather, and globally inspired culinary concepts, Bloomberg reports. 

💺 Taking Flight: Algeria will begin receiving new aircraft for Air Algérie in November, with additional planes for its new domestic airline arriving from 2026.

UAE President Sheikh Mohamed bin Zayed announced the reconstitution of the Artificial Intelligence and Advanced Technology Council, chaired by Sheikh Tahnoon bin Zayed, UAE National Security Advisor and Deputy Ruler of Abu Dhabi, with Sheikh Khaled bin Mohamed, Abu Dhabi Crown Prince, as Vice-Chairman.

Sheikh Mohammed bin Rashid, UAE Vice President and Prime Minister and Ruler of Dubai, crowned twins Bisan and Baylasan Kouka from Tunisia as the 2025 Arab Reading Champions.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, will lead a UAE delegation to South Korea to participate in the Asia-Pacific Economic Cooperation forum next week.

Mohamed Alabbar, Emirati businessman and Founder of Emaar Properties, said during an address at the eighth Sharjah Investment Forum–World Investment Conference that the manufacturing sector, which currently makes 15% of the UAE’s GDP, will be the key driver of the nation’s next phase of economic growth.

Essa Ali Bin Salem Alzaabi was named Chairman of the Islamic Arab Insurance Company, also known as Salama.

Changpeng Zhao, Founder of crypto exchange Binance, has received a full pardon from the U.S. President Donald Trump. He was previously found guilty of circumventing money-laundering laws, unlawful money transmitting and sanctions breaches and spent four months in prison.

Dana White, President and CEO of the Ultimate Fighting Championship, told The National that Abu Dhabi had become “part of the sport’s DNA.”

Noura Al Kaabi, UAE Minister of State, took part in the Fourth Ministerial Conference on Feminist Foreign Policy in Paris this week.

⭐ Star Struck: The 2026 edition of the Michelin Guide Abu Dhabi was launched on Thursday with a glamorous ceremony at Emirates Palace Mandarin Oriental. Hakkasan, Talea by Antonio Guida and Emirati restaurant Erth all retained their Michelin stars, while 99 Sushi lost its star, The National reports. Newcomer 3Fils Abu Dhabi, an offshoot of a popular Japanese-inspired restaurant in Dubai, was awarded Opening of the Year and joined the Bib Gourmand category, which recognizes top restaurants at a lower price point. Bua Thai Cafe, Goldfish Sushi & Yakitori Abu Dhabi were also awarded Bib Gourmand status.

Oct. 27–Oct. 29, Dubai. Asia Pacific Cities & Mayors Forum. The forum tackles sustainable development of cities. Dubai Exhibition Center.

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.

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.