SHIP SHAPE

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

TALL ORDER

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

📷 Photo of the Day

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

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

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

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

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

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

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

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

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

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

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

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

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

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

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

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

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

STRAIT GAINS

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

SAUDI OFFICE MARKET

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

📷 Photo of the Day

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

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

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

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

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

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

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

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

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

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

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

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

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

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

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

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

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

CASINO TOWN

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

ROBOT ROUND

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

📷 Photo of the Day

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

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

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

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

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

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

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

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

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

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

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

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

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

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

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

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

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

ALTERNATIVE LAND

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

WHOOP MOVE

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

📷 Photo of the Day

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

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

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

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

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

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

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

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

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

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

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

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

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

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

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

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

MATCH POINT

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

CASH CRUNCH

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

📷 Photo of the Day

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

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

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

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

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

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

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

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

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

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

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

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

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

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

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

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

MACHINE FUNDING 

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

SAVING TURTLES

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

📷 Photo of the Day

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

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

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

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

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

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

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

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

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

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

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

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

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

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

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

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

SPREADING WAR

Egypt said preliminary investigations found a drone caused a fire that damaged two vessels at the country’s Mediterranean Damietta Port on Wednesday, with no casualties reported. Authorities said no group had claimed responsibility, and investigations are continuing to identify those responsible. Energy analytics firm Kpler said the incident disrupted operations at the gas import terminal, and security company Ambrey reported that a U.S.-owned storage tanker had been hit. If confirmed, it would mark a significant escalation of regional tensions. It came as the U.S. military launched a new wave of strikes against Iran this morning in response to attacks on its military bases in the Middle East. An Iranian attack hit a building belonging to a Chinese company in northern Kuwait today, killing one worker and causing significant damage.

SAUDI SLOWDOWN

Saudi Arabia’s economy contracted 4.8% year-on-year in the second quarter, its sharpest decline since the Covid-19 pandemic, as regional conflict weighed on oil exports. The oil industry shrank 24.7%, while non-oil activity slowed to 0.6% growth, according to preliminary government data, Bloomberg reports. Disruptions to oil exports through the Strait of Hormuz have forced the kingdom to reroute crude via the Red Sea, where it is now facing renewed threats from Yemen’s Iran-backed Houthis. Despite the slowdown, the International Monetary Fund said Saudi Arabia remains resilient, citing its strong economic fundamentals and diversified energy and logistics infrastructure.

DP World: The Dubai logistics giant began operations at its first multi-client third-party logistics warehouse in Riyadh’s Al Mashael Logistics Hub.

QatarEnergy: Qatar has sent its first shipment of LNG in three weeks through the Strait of Hormuz, Bloomberg reports. 

Public Investment Fund: Saudia Cargo, the Kingdom’s national cargo carrier, and Riyadh Cargo, a subsidiary of PIF-backed Riyadh Air, have signed an interline agreement to enhance the integration of their networks and expand access to global markets.

Public Investment Fund: PIF-backed Americana Restaurants International, which operates brands including KFC, Pizza Hut and Krispy Kreme across 12 countries, posted a 59.2% year-on-year increase in first-half net income to $147.2 million, despite rising costs from the Iran war, as it recovers from boycotts of American food brands.

TAQA: Abu Dhabi National Energy Company, known as TAQA, has issued a $750 million blue bond to finance sustainable water and wastewater management projects.

💰 New Market: Bahrain-based Investcorp has entered the North American wealth management market by investing in Berger Financial Group, a U.S.-based wealth management platform overseeing more than $3 billion in assets.

🏦 Raising Funds: Al Moammar Information Systems renewed a $111.8 million loan facility with Saudi Awwal Bank to support new projects.

🏗️ Urban Development: PIF-backed Ardara Company is partnering with Sumou Holding for the launch of the $1.04 billion second phase of its prime Al Wadi development in the Abha region.

🎨 Museum Boost: Abu Dhabi developer Aldar is banking on the opening of the Guggenheim museum in December to bring tourists back to the emirate amid weaker earnings for its hospitality arm in the second quarter, Arabian Gulf Business Insight reports. 

♀️ Equal Inheritance: Law firms say Middle Eastern clients are increasingly looking to London to seek “sharia-lite” inheritance strategies to distribute assets more equally among children, the Financial Times reports.

🛬 Air Controllers: The UAE and Egypt have agreed to gradually expand bilateral air traffic rights over the next five years to strengthen aviation cooperation and enhance connectivity between the two countries.

📉 Lower Deals: Oil prices fell on Thursday as increased tanker traffic through the Bab al-Mandab Strait eased supply disruption concerns, with Brent down 1.1% to $89.71 a barrel and WTI 0.9% lower at $83.78.

​​🔴 Profit Hoarding: State-owned companies in Iraq have failed to pay $18 billion of accumulated profits to the treasury, the country’s financial watchdog claims. 

Prince Khalid bin Salman, Saudi Arabia’s Defense Minister, met with U.S. President Donald Trump in Washington on Wednesday, following his meeting with Vice President JD Vance, Axios reports.

UAE President Sheikh Mohamed bin Zayed met with Slovak Prime Minister Robert Fico in Slovakia on Wednesday. 

Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani met with Igor Sechin, CEO of Russia’s Rosneft Oil Company, on Wednesday at Lusail Palace.

Abdulla bin Mohammed bin Butti, Chairman of the UAE National Media Authority, met with Jean Gonié, Senior Director of Public Policy for Europe, the Middle East and Africa at Snap in London.

Jordan Rochester, one of the U.K.’s most recognized financial commentators during the country’s split from the EU and known as “Mr. Brexit,” has left Mizuho Bank Ltd. to pursue a position in Dubai, Bloomberg reports.

Obaid al-Zaabi, an Emirati political analyst, told Jerusalem Post that the UAE’s diversified economy makes it more resilient, allowing it to withstand more Iranian pressure than other Gulf states.

📽️ Fridge Film: “Complaint No 713317,” a Kafkaesque dark comedy about a broken fridge, has brought together two Egyptian acting greats, Mahmoud Hemida and Sherine, to star alongside each other for the first time in their careers. The story of a couple in Cairo battling with a corrupt maintenance company for months over an appliance repair was inspired by director Yasser Shafiey’s own frustrations over a similar experience, The National reports.

📷 Photo of the Day

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

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

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

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

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

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

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

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

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

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

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

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

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

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

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

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

ITALIAN SUMMER

Saudi Arabia’s Red Sea Global is developing its first overseas destination, an island resort at Santo Stefano off the coast of Sardinia. The Public Investment Fund-controlled developer holds a 90% stake in Santo Stefano Resort, while the remaining share is owned by Re.vo, a real estate investment firm controlled by members of the Benetton family. The resort, which had been shuttered for years, is being brought under RSG’s management as the company expands beyond its Saudi projects, Arabian Gulf Business Insight reports. 

MILITARY TASKFORCE

The U.S. and UAE are building a task force to accelerate military artificial intelligence applications. The Abu Dhabi-based team, called Talon Synapse, will include about 20 American and Emirati experts in AI, data and cybersecurity, CENTCOM said on X. The initiative follows discussions between CENTCOM Commander Adm. Brad Cooper and UAE National Security Adviser Sheikh Tahnoon bin Zayed last year. It will focus on AI applications for intelligence support, critical infrastructure protection and monitoring the regional security environment. “This will be a historic milestone as we work with one of our most capable regional partners to rapidly deliver evolving AI advancements to our warfighters,” Adm. Cooper said.

Public Investment Fund: Egyptian developer Hassan Allam Holding won a $720 million contract to build a Waldorf Astoria hotel, residences and mixed-use superblock in Diriyah, the PIF-backed gigaproject on the northwestern outskirts of Riyadh.

Jada Fund of Funds: The PIF subsidiary has committed to Saudi private equity fund Growth Catalyst Fund I, which is targeting $200 million to invest in mid-market companies across the kingdom.

QatarEnergy: The energy giant has extended its force majeure notice to Italy’s Edison until the end of September, canceling three additional LNG cargo deliveries.

ADNOC: Fertilizer producer Fertiglobe, which is majority owned by the Abu Dhabi national oil company, more than doubled its earnings in the second quarter, compared to last year, benefiting from higher fertilizer prices even as it was forced to find new overland and sea routes to export its products.

ADNOC: The Abu Dhabi national oil company appears to be pushing ahead with LNG exports from the Gulf, with an empty carrier owned by its shipping arm appearing in the Gulf today after traversing the Strait of Hormuz with its location broadcasters turned off, Bloomberg reports.

✈️ Fleet Up: Plane lessor Dubai Aerospace Enterprise completed the acquisition of Ireland-based Macquarie AirFinance for about $9 billion, giving DAE a total fleet of about 1,000 owned, managed and committed aircraft.

💵 Record Selling: UAE sovereign entities and companies have raised a combined $30.3 billion through dollar- and euro-denominated bond sales this year as of July 28, Bloomberg reports. 

🚿 Desal Deal: Nasdaq-listed Energy Recovery will build a desalination technology factory near Dammam Second Industrial City in Saudi Arabia, Arab News reports.

💧 Water Works: Jordan’s cabinet has approved $97 million in funding from the French Development Agency for its national water carrier project, a part of government efforts to begin work on a $5.8 billion desalination project.

🪖 Incoming Threat: Saudi Arabia intercepted drones fired at oil facilities in its Eastern Region by Iran-backed militias in Iraq for the second day in a row on Tuesday.

₿ Crypto Payment: Emirates has launched Crypto.com Pay, allowing eligible UAE residents to use the digital payment service for flight bookings.

🚢 Trade Diplomacy: Shipping between Iran and the UAE returned to pre-war levels, with 51 container ships crossing the Arabian Gulf between June 27 and July 25.

👖 Street Cred: Saudi streetwear label 1886 is being stocked at Selfridges in London as part of a Saudi pop-up running at the department store until Sept. 5 in partnership with PIF-backed food and beverage group Milaf Global.

UAE President Sheikh Mohamed bin Zayed held a phone call with Kyriakos Mitsotakis, Prime Minister of Greece, on Tuesday. Sheikh Mohamed received Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, in Abu Dhabi on Tuesday.

Saudi Crown Prince Mohammed bin Salman held a phone call with Spanish Prime Minister Pedro Sanchez on Tuesday.

Qatar’s Emir Sheikh Tamim bin Hamad Al Thani met with Rabbi Mendy Chitrik, Chairman of the Alliance of Rabbis in Islamic States, on Monday to offer condolences following the death of the Father Emir, Sheikh Hamad bin Khalifa Al Thani.

Jeff Zucker, CEO of Abu Dhabi-backed RedBird IMI, is banking on the UAE to help build his new $8 billion entertainment empire after the merger of Banijay and All3Media, Fortune reports.

Israeli Prime Minister Benjamin Netanyahu was seen at a table with Lebanese banker Antoun Sehnaoui and U.S. diplomat Morgan Ortagus at a memorial dinner for late Senator Lindsey Graham hosted by Sehnaoui and Ortagus at the Four Seasons in Washington, D.C. on Monday night.

Abdulla bin Mohammed bin Butti, Chairman of the National Media Authority, met with Kojo Boakye, Meta’s Vice President of Public Policy for Africa, the Middle East and Turkey, in London.

Ahmed Taha and Yannick Lakoue-Derant were appointed as co-heads of HSBC’s MENAT DCM business.

✂️ Grand Opening: Guggenheim Abu Dhabi, one of the cornerstones of the Saadiyat Cultural District, will open to the public on Dec. 11. The enormous Frank Gehry-designed art museum, made up of a complex of asymmetrical stacked cones and interconnected galleries, is inspired by traditional Middle Eastern wind towers. It will focus on modern and contemporary art, with a collection of works from artists including Jackson Pollock, Mark Rothko, Andy Warhol and Jean-Michel Basquiat.

📷 Photo of the Day

July 28-30, Cairo. EduGate. The annual fair highlights technology and new educational trends and techniques from across the Middle East. Egypt International Exhibition Center.

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

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

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

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

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

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

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

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

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

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

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

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

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

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

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

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

CLUB MED

Iraq is reviving plans to build a new oil pipeline through Syria to the Mediterranean Sea as part of a series of measures aimed at diversifying its crude export routes away from the Strait of Hormuz. The country’s cabinet approved a flurry of oil and gas sector decisions over the weekend, including signing a memorandum of understanding with Syria to move forward with the oil pipeline, The National reports. The project would provide Iraq with a second direct Mediterranean export route, reducing its reliance on Gulf shipping lanes and the disruption-prone Iraq-Turkey pipeline. Syria has emerged as a key energy transit route for Iraq, with daily truck shipments rising from 10 to 1,000 and 2.1 million tonnes of Iraqi fuel oil transported to Europe since April. Iraq is also exploring Lebanon as an alternative transit route.

ANSWERING CALL

Abu Dhabi-based AI company G42 has joined Nvidia’s Open Secure AI Alliance, backing the development of secure, open-weight, open-source AI models. The alliance brings together companies supporting AI models that can be downloaded, shared and adapted. “The future of AI will be defined not only by how capable our models become, but by how securely and confidently nations and enterprises can build on them,” Peng Xiao, CEO of G42, posted on X. Nvidia CEO Jensen Huang called open-weight models vital to AI innovation, with 25 major companies, including Microsoft, Palantir, Perplexity, CrowdStrike, and IBM, endorsing the approach. The alliance aims to promote cybersecurity, trust and sovereign control in the development of frontier AI models.

Masdar: The Abu Dhabi green energy company and Montenegro’s national utility EPCG will develop Montenegro’s first 150MW of solar projects and explore more than 400MW of pumped hydro storage under their 50/50 joint venture.

Public Investment Fund: Riyadh-based telecom Mobily has confirmed it is in preliminary talks with PIF-owned Tawal over a potential sale of more than 10,000 telecom towers, though no binding agreement has been reached.

Public Investment Fund: Paramount Skydance CEO David Ellison said he’s “highly confident” its Gulf-backed takeover of Warner Bros. Discovery will go ahead, despite legal challenges, Bloomberg reports. Saudi Arabia’s PIF, the Qatar Investment Authority and Abu Dhabi’s L’Imad Holding are all backing the deal.

L’Imad Holding: UAE Team ADQ, the women’s WorldTour cycling team, will be renamed UAE Team L’Imad from Aug. 1, following the absorption of its sponsor ADQ into the new Abu Dhabi sovereign wealth fund.

💵 Cashed Up: Tadawul-listed Saudi Energy has secured a $4.22 billion Murabaha financing facility from a consortium of seven Saudi banks.

💰 Silk Road: Saudi Arabia, the UAE, and Qatar are ramping up investments in Uzbekistan’s energy sector, with projects spanning renewables, gas-fired power and electricity networks as the country modernizes its aging Soviet-era energy infrastructure.

📡 Space Battle: Amazon plans to launch a constellation of more than 5,000 satellites by 2028 to provide global mobile phone services, challenging Elon Musk’s Starlink in the direct-to-device connectivity market, the Financial Times reports.

🏦 Business Booming: Dubai International Financial Center surpassed 10,000 active registered companies for the first time, with 2,318 new firms joining over the past year despite regional conflict, Bloomberg reports.

🪖 More Missiles: Saudi air defenses intercepted drones targeting petroleum facilities in the Eastern Region and Riyadh, which the Defense Ministry said were launched by Iran-backed Iraqi militias.

🚢 Hormuz Deal: Iran and Oman are negotiating a deal to reopen shipping through the Strait of Hormuz, potentially paving the way for renewed U.S.-Iran talks to end the conflict, Bloomberg reports.

🇨🇳 Power Park: Dubai Multi Commodities center and Hong Kong Tinkam Capital are exploring the development of a power and energy equipment manufacturing park in Dubai to attract Chinese companies in advanced manufacturing, green technology and energy.

🩰 Balancing Act: The UAE is balancing rapidly restoring commercial activity with Iran, while strengthening defense relationships with the U.S. and Israel, demonstrating its ability to navigate regional security risks without severing vital economic links, the Financial Times reports.

U.S. President Donald Trump said that the U.S. and Iran were engaged in diplomatic talks to end the Middle East conflict, “there’s a good chance that something could happen, and if it does good. If it doesn’t, we go back to doing what we were doing.”

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, chaired the inaugural meeting of the newly formed Board of the Abu Dhabi Agriculture and Food Safety Authority on Monday.

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, held separate phone calls on Monday with Ed Miliband, the U.K. Foreign Secretary; Sheikh Mohammed bin Abdulrahman, Qatar’s Prime Minister and Foreign Minister; and Sheikh Jarrah Jaber Al-Ahmad Al-Sabah, Kuwait’s Foreign Minister.

Sheikh Mohammed Bin Hamad, CEO of Qatar Free Zone, announced the formation of the Qatar Diamond Exchange.

Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, met with Montenegro’s Prime Minister Milojko Spajić in Tivat, followed by a meeting with Energy and Mining Minister Admir Šahmanović, to witness the signing of the first agreements for solar and hydro projects under a joint venture between Masdar and EPCG.

Gianni Infantino, FIFA President, accused his critics of being “consumed by hate” during the World Cup, and brushed aside complaints about the treatment of Iran’s team and the decision to lift a ban on a U.S. player after pressure from President Donald Trump, the Financial Times reports. 

Marwan Elaraby was appointed President for the MENA region at BlueFive Capital, an Abu Dhabi-based investment platform.

Ambareen Musa, CEO of Revolut GCC, told Arabian Gulf Business Insight that the bank’s priority is preparing for launch and ensuring they “deliver a seamless, localized experience from day one.”

Anthony Nakache, Managing Director of Google MENA, discussed with the Dubai Media Office the rapid growth in the adoption of artificial intelligence solutions within the emirate.

🎥 American Debut: A dark comedy starring and written by Saudi actor Sarah Taibah has had its first showing in the U.S. after premiering at the Red Sea Film Festival in Jeddah in December. The film, “A Matter of Life and Death,” follows a 29-year-old who believes she has inherited a family curse that means she will die on her 30th birthday. It screened at the Jacob Burns Film Center in Pleasantville, New York, on Saturday, hosted by ANA Contemporary Arab Cinema.

📷 Photo of the Day

July 28-30, Cairo. EduGate. The annual fair highlights technology and new educational trends and techniques from across the Middle East. Egypt International Exhibition Center.

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

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

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

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

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

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

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

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

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

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

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

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

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

SUEZ ROUTE

Saudi Arabia is rerouting more oil through Egypt’s Suez Canal, adding to a broader reshuffling of global oil flows as Gulf producers seek alternatives to the Strait of Hormuz. At least four tankers carrying Saudi crude abruptly reversed course this week before reaching the Bab el-Mandeb Strait at the southern end of the Red Sea, instead heading north toward the Suez Canal, according to ship-tracking firm Vortexa, The Wall Street Journal reports. On Sunday, two supertankers bound for Asia took the longer Suez Canal route, with the Greek-owned Olympic Luck already through the canal partially laden and the DHT Gazelle following, Bloomberg reports.Vessels from nations including China and Pakistan continue to use the Bab el-Mandeb Strait.

RACING AHEAD

Malaysia will host its first Formula One race in nine years after agreeing to stage Bahrain’s postponed Grand Prix at the Sepang International Circuit, allowing the event to go ahead despite the disruption caused by the conflict. The race will be held between the Azerbaijan and Singapore fixtures, taking place Oct. 2-4, Bloomberg reports. The Bahrain race was originally scheduled for April but was postponed alongside Saudi Arabia’s Jeddah Grand Prix after the outbreak of hostilities. The agreement remains subject to final contracts and approval from the World Motor Sport Council, Formula One and the FIA.

Public Investment Fund: Saudi Arabia’s sovereign fund signed a memorandum of understanding with the Export-Import Bank of the U.S. to build a financing framework worth up to $15 billion to support strategic investments and procurement from U.S. companies. The PIF also signed agreements worth up to $9.5 billion with the International Finance Corporation and the Multilateral Investment Guarantee Agency. 

Kuwait Investment Authority: BP is in advanced talks to sell its Lightsource solar business to a consortium backed by Kuwait’s sovereign wealth fund, as the energy major refocuses on oil and gas and pursues a $20 billion divestment plan.

Qatar Development Bank: The state-backed entity was among investors in a $570 million fundraising round for Multiverse Computing, a quantum AI software company headquartered in San Sebastián, Spain.

Mubadala Capital: Carlyle and Bain Capital are competing to acquire Wealth Enhancement, a wealth management platform overseeing nearly $160 billion in client assets, as Mubadala Capital’s $8.8 billion acquisition of CI Financial highlights growing investor interest in the sector, the Financial Times reports.

🔋 Battery Power: The African Development Bank has approved a $114.2 million loan to Gotion Power Morocco to help finance a lithium battery gigafactory, with plans to mobilize an additional $160.9 million from financial partners.

🏦 Bank Deal: Nigerian billionaire Tony Elumelu’s United Bank for Africa, which has a presence in Dubai, is nearing approval for a French banking license as it expands its international footprint.

🧲 Wealth Magnet: Dubai’s Department of Economy and Tourism is partnering with Swiss wealth manager Julius Baer to attract international investors, business owners and family offices to establish and expand their presence in the emirate.

🎰 Wynn Win: Construction has begun on Janu Al Marjan Island, a luxury hotel and branded residences project in Ras Al Khaimah, marking the second joint venture between Marjan and Wynn Resorts.

💸 New Bonds: Oman’s Bank Dhofar is planning to raise up to $400 million through the issuance of a new type of investment.

🚘 Trump Way: U.S. President Donald Trump said Morocco is naming a 655-mile highway after him, thanking King Mohammed VI and calling it “such an honor” in a social media post.

🎮 Gaming Hub: Australian video game streaming company Kick, which lets people broadcast themselves playing live, is expanding in Saudi Arabia and the wider Gulf. 

🤝 Working Together: The UAE and Canada have concluded negotiations on a Comprehensive Economic Partnership Agreement, which is expected to cut tariffs and expand market access, building on bilateral trade that reached $4.2 billion in 2025.

🏢 Oman’s Market: Younger first-time buyers benefiting from lower interest rates are driving Oman’s property market, with sale contracts rising 7% to 34,000 in the first half of 2026 and mortgage signings up 26% year-on-year.

💰 Alternative Option: Morocco’s Casablanca Finance City is stepping up efforts to attract companies seeking alternatives to Gulf hubs amid regional conflict and travel disruptions, pitching its strategic access to African markets, Africa Intelligence reports. 

UAE President Sheikh Mohamed bin Zayed held a phone call on Sunday with Andy Burnham, the U.K.’s new Prime Minister.

Saudi Crown Prince Mohammed bin Salman also held a phone call with Andy Burnham, who condemned attacks by Yemen’s Iran-backed Houthi militia.

Bahrain’s King Hamad bin Isa Al Khalifa held a phone call with Israel’s President Isaac Herzog on Sunday.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, held a phone call with Qatar’s Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman on Sunday. Sheikh Abdullah also held a phone call with Oman’s Minister of Foreign Affairs Sayyid Badr bin Hamad bin Hamoud.

Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, met with Stéphane Courbit, Chairman of Banijay Group, on the sidelines of the Tour de France, where they discussed the future of the media and entertainment landscape. 

Dave Shaw, the UFC’s Executive Vice-President and Head of International and Content, told The National that the return to Abu Dhabi “feels like a homecoming.”

Rizwan and Adel Sajan, the father and son behind Danube Properties, told Arabian Gulf Business Insight that while newcomer developers may now be struggling with the downturn in Dubai’s property market, it was creating an advantage for mature businesses. “All my sites are running better than before because a lot of projects from other developers have stopped,” Rizwan said. 

🌴 Natural Beauty: The UAE’s Wadi Wurayah National Park, a geological site in Fujairah, has been added to the Unesco World Heritage List, The National reports. Wadi Wurayah sits within the Hajar Mountains about 45km from Fujairah City and is the only permanent freshwater ecosystem in the area, with year-round streams, springs and natural waterfalls. The site, which became the country’s first national park in 2013, will become a protected site of global importance, recognized for its “outstanding universal natural value.” 

📷 Photo of the Day

July 26-28, Riyadh. Sanabil Angel Investing Unlocked. Training the next generation of angel investors in Saudi Arabia and the wider MENA region. 

July 28-30, Cairo. EduGate. The annual fair highlights technology and new educational trends and techniques from across the Middle East. Egypt International Exhibition Center.

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

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

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

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

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

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

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

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

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

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

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