China’s ROX starts producing electric vehicles in Abu Dhabi
China’s ROX Motor Co. has started assembling electric vehicles in Abu Dhabi.
The company, which is working with state-owned Abu Dhabi Investment Office, plans to unveil its first UAE-designed car in March 2027, Arabian Gulf Business Insight reports.
The plant is already producing three ROX Adamas models at Khalifa Economic Zones Abu Dhabi, known as Kezad.
ROX said it plans to produce 20,000 vehicles in Abu Dhabi next year and expand capacity to 300,000 annually by 2030, serving both domestic and export markets.
The Chinese company is also preparing to manufacture its vehicles in Egypt.
The Daily Circuit: China’s ROX builds cars in UAE + Humain’s Arabic AI model
In today’s Daily Circuit, we’re reporting on Humain creating an Arabic AI model built on Chinese technology, Standard Chartered offering institutional spot trading of bitcoin and ether in the UAE, a projection that data center investment in the Middle East will grow faster than in any other region in the world, and the Germany under pressure to let Emirates schedule more flights to Berlin and Stuttgart. But first, a Chinese EV factory in the UAE.
China’s ROX Motor Co. has started assembling electric vehicles in Abu Dhabi.
The company, which is working with the government-run Abu Dhabi Investment Office, plans to unveil its first UAE-designed car in March 2027, Arabian Gulf Business Insight reports.
The plant is already producing three ROX Adamas models at Khalifa Economic Zones Abu Dhabi, known as Kezad.
ROX said it plans to produce 20,000 vehicles in Abu Dhabi next year and expand capacity to 300,000 annually by 2030, serving both domestic and export markets.
The Chinese company is also preparing to manufacture its vehicles in Egypt.
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FLIGHT FIGHT
Germany gets prodded to let Emirates operate more flights
Pressure is mounting on the German government to let Dubai-based Emirates airline schedule more flights to Germany.
The Germany-UAE Business Council is calling on the Chancellor’s office to support daily direct flights by the airline, both between Dubai and Berlin and between Dubai and Stuttgart, Filipp Piatov reports for The Circuit.
The dispute is rooted in a long-running disagreement over traffic rights to German destinations for airlines from the UAE. Emirates currently serves Frankfurt, Munich, Düsseldorf and Hamburg. To add regular services to Berlin and Stuttgart, the airline needs to expand its existing traffic rights.
Saudi Arabia’s PIF-backed Humain launched Humain-M3, an Arabic-language AI model built on technology from China’s MiniMax. The company said the model outperformed rivals across seven public Arabic benchmarks. Humain commissioned the model to address the underrepresentation of Arabic in advanced AI systems. Developers and businesses can access it through the company’s Humain Node platform.
SERVER SURGE
Middle East data-center investment is projected to grow faster than in anywhere else in the world, reaching a cumulative $1.1 trillion by 2050, according to PwC. Spending is expected to rise from $18 billion in 2025 to $69 billion annually by mid-century, Arab News reports. Saudi Arabia and the UAE are leading the expansion as both countries pour money into artificial intelligence and cloud infrastructure. PwC said the boom could turn the region into a major global hub for computing capacity.
💲 Sovereign Circuit
Public Investment Fund: Humain plans to raise an initial $2.5 billion from domestic and global investors to finance 250 megawatts of Saudi data-center capacity that could eventually grow to 1 gigawatt, Bloomberg reports.
Oman Investment Authority: The sovereign wealth fund is increasingly assessing investments on their “Omani dimension.” President Abdulsalam bin Mohammed al Murshidi said the assessment will made accord to the contribution to economic diversification, local businesses, jobs, technology transfer and the government’s Oman Vision 2040 plan.
ADNOC: The UAE’s national oil company will continue exporting LNG from its Das Island processing facilities despite hostilities with Iran in the Strait of Hormuz, Bloomberg reports.
L’Imad Holding: Etihad Airways and China’s ROX have signed an agreement to explore collaboration around ROX’s Africa Grand Tour S2 car race, including vehicle branding and tourism marketing.
↪↩ Closing Circuit
💧 Water Works: Saudi Arabia signed three agreements and inaugurated two factories as part of a $747 million drive to manufacture water-industry equipment domestically.
📈 Raising Cash: Egypt’s Cabinet approved a plan to issue up to $3 billion in international bonds to bridge funding gaps and diversify financing.
🛞 Tire Track: Egypt has signed a $2 billion deal with China’s Shandong Linglong Tyre Co. to build a tire manufacturing complex expected to create more than 5,000 jobs.
🗣 Circuit Chatter
☢️ Nuclear Limits: The Trump administration’s civilian nuclear agreement with Saudi Arabia could eventually allow the kingdom to enrich uranium to nearly 20%, fueling criticism in Congress over proliferation risks, The Wall Street Journal reports.
🤝 French Ties: France’s effort to strengthen relations with Saudi Arabia and the UAE reflects the Gulf countries’ growing economic influence and efforts to diversify partnerships beyond Washington, Bloomberg reports.
₿ Crypto Gateway: Standard Chartered has launched institutional spot trading of bitcoin and ether in the UAE, becoming the first major global bank in the GCC to offer the service.
📈 Economic Strength: Egypt’s GDP growth accelerated to 5.1%, driven by a recovery in Suez Canal activity, stronger refining and non-oil industrial output and growth in telecommunications.
🌍 Power Circuit
Oman’s Sultan Haitham bin Tariq will be hosted by King Charles and Queen Camilla at Windsor Castle on a state visit to the U.K. next month, Buckingham Palace announced.
Sheikh Mohammed bin Rashid, Vice President, Prime Minister, and Ruler of Dubai, held a gathering on Thursday with senior officials including Sheikh Ahmed bin Mohammed bin Rashid, Second Deputy Ruler of Dubai; Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, Chairman of Dubai Airports, and Chairman and Chief Executive of Emirates Airline; and Sheikha Latifa bint Mohammed bin Rashid, Chairperson of the Dubai Culture and Arts Authority.
Sheikh Hazza bin Zayed Al Nahyan, the Ruler’s Representative in the Al Ain region, toured the Abu Dhabi International Hunting and Equestrian Exhibition this week, remarking on how the event reflects the UAE’s national values.
➿ On the Circuit
Badr Albusaidi, Foreign Minister of Oman, writes in the Financial Times about Oman’s diplomacy over the past few months, adding that states must uphold international law and resolve disputes through diplomacy.
Mark Ring, Group Director of Middle East Energy, said AI and data-center growth is driving demand for flexible generation, energy storage, critical power and smart energy management, with the UAE playing a key role in the global energy sector.
Hassan El-Houry, CEO of airport ground handler Menzies Aviation, told The National that they are planning expansion in the Gulf and U.S.
Ebrahim Al Hajri, President of Khalifa University of Science and Technology, was interviewed by CNNabout research labs, innovation hubs and the startups driving Abu Dhabi’s future.
Ghazi Al Anzipresented his credentials as Saudi Arabia’s Ambassador to Syria to Syrian Foreign MinisterAsaad Hassan Al-Shaibani.
Jennifer Li, WeRide’s Head of International and Chief Financial Officer, told Arabian Gulf Business Insight the company plans to have between 7,000 and 10,000 autonomous taxis in Saudi Arabia by the end of the decade.
🎶 Culture Circuit
📖 Living History: AlUla’s modern-day rawis – guides trained to recount the ancient Saudi oasis’s history through oral storytelling – are featured this month in a photography exhibition at UNESCO headquarters in Paris. The exhibition highlights a UNESCO-AlUla initiative to create a “Live Museum” built around conversation and storytelling, Arab News reports.
📷 Photo of the Day
Ultimate Power Solution Group, based in the UAE’s Sharjah emirate, showcased it newest electric power generators that are supported by artificial intelligence, robotics and automation at the Middle East Energy 2026 exhibition in Dubai (Emirates News Agency)
📅 Ahead on the Circuit
Sept. 7-8, Abu Dhabi. Hili Forum. The event brings policymakers and leading experts to examine the future of regional security, trade and energy corridors and technology. The St. Regis Saadiyat Island Resort.
Sept. 7-8, Dubai. World ESG Summit. Bringing together global leaders, policymakers, investors and experts on environmental, social and governance matters. Metropolitan Hotel.
Sept. 7-9, Dubai. AIM Congress. The global investment platform’s annual meeting brings together investors, governments, businesses and policymakers. Dubai World Trade Centre.
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. 14-16, Riyadh. Money20/20. The event brings together banks, Big tech, fintechs, regulators, startups and investors. Riyadh Exhibition & Convention Center.
Sept. 14-16, Riyadh. UNESCO Global Forum on the Ethics of AI. The event will bring policymakers and tech leaders together to examine AI’s impact on global governance, diplomacy, national security and the emerging technological divide. Location to be announced.
Sept. 14-17, Bangkok. Gastech. The global energy event brings together global energy leaders, policymakers and industry experts to explore natural gas, LNG, hydrogen, low-carbon solutions, electrification and AI. Bangkok International Trade & Exhibition Centre.
Sept. 14-17, 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. 16-18, Dubai. GISEC Global. MENA’s largest cybersecurity event brings together governments, CISOs, technology companies and cybersecurity experts to explore emerging threats, AI security, and other technologies. Dubai Exhibition Centre.
Sept. 20, New York. Qatar Economic Forum. The forum will host a special leadership gathering alongside the 2026 U.N. General Assembly 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. 6-7, Abu Dhabi. Ai Everything. The AI forum brings together policymakers, innovators and business leaders. 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, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.
Oct. 26-29, Riyadh. Future Investment Initiative. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Conference Center.
Germany under pressure to let Emirates operate more flights
Pressure is mounting on the German government to let Dubai-based Emirates airline schedule more flights to Germany.
The Germany-UAE Business Council is calling on the Chancellor’s office to support daily direct flights by the airline, both between Dubai and Berlin and between Dubai and Stuttgart, according to a letter obtained by The Circuit.
In its letter to the Federal Chancellery, the business lobby expressed regret that talks between Germany and the UAE on expanding air-traffic rights ended without an agreement. According to the group, the German side offered only two weekly flights for UAE airlines to Berlin.
“From a commercial perspective, such a limited frequency would neither provide a viable basis for establishing and sustainably operating the route, nor would it adequately meet the level of the demand identified,” the letter said, seeking support from the Chancellery for the extra service.
The dispute is rooted in a long-running disagreement over traffic rights to German destinations for airlines from the UAE. Emirates currently serves Frankfurt, Munich, Düsseldorf and Hamburg. To add regular services to Berlin and Stuttgart, the airline needs to expand its existing traffic rights.
The issue gained fresh momentum following Chancellor Friedrich Merz’s visit to the UAE in February. In its letter, the GUBC pointed to “positive signals” from the Chancellor regarding additional traffic rights. According to media reports, however, there were differing views within the German government.
While the Transport Ministry was said to have initially offered two weekly flights to Berlin, the Chancellery pushed for a broader agreement allowing six or seven flights a week to Berlin and Stuttgart.
The dispute is politically sensitive in part because additional Emirates services could intensify competition with Lufthansa and other European airlines. Lufthansa opposes an expansion of the traffic rights. Germany and the UAE have yet to reach an agreement, Tagesspiegel reported.
The GUBC’s German Chairperson is Günther Oettinger, a former Minister-President of the state of Baden-Württemberg and past EU commissioner. The UAE Chairperson is Musabbeh Al Kaabi, CEO for upstream operations at ADNOC
This article was produced through the Axel Springer Global Reporters Network, a multi-publication initiative publishing scoops, investigations, interviews, op-eds and analysis that reverberate across the world. It connects journalists from Axel Springer brands – including POLITICO, The Telegraph, Business Insider, WELT, BILD, Onet, and now The Circuit – on major stories for an international audience. Their ambitious reporting stretches across Axel Springer platforms: online, print, TV, and audio. Together, the outlets reach hundreds of millions of people worldwide.
The Daily Circuit: China eyes manufacturing in Egypt + G42 seeks new funds
In today’s Daily Circuit, we’re reporting on a possible fundraising round for G42, Saudi Investment Bank selling off its Amex stake, Humain planning to launch a new venture capital fund, and Lenovo getting ready to produce laptops and smartphones at its new Riyadh factory. But first, China wants to boost its manufacturing in Egypt.
Chinese President Xi Jinping is pushing deeper into Egypt’s economy with plans that range from electric vehicles and renewable energy to semiconductors and artificial intelligence.
The two countries agreed during Xi’s visit this week to expand cooperation in data centers, cloud computing, critical metals and the Suez Canal Economic Zone, according to a joint statement issued Thursday.
Egyptian President Abdel Fattah El-Sisi and the Chinese leader said they plan to increase the use of their currencies in trade and investment while renewing and expanding an existing currency-swap agreement.
Chinese companies will be encouraged to build EVs, ships, solar panels and wind turbines in Egypt, helping Cairo position itself as an industrial and logistics hub linking Asia, Africa and Europe.
The agreements build on China’s Belt and Road projects in Egypt and come as regional wars disrupt trade and strain the country’s fragile economy.
Editor’s Note: Have thoughts or feedback? Hit reply or drop us a note at [email protected].
📰 Developing Stories
CAPITAL QUEST
Abu Dhabi’s G42 is exploring a multibillion-dollar fundraising round from outside investors. Talks are preliminary, and no decisions have been made on the size or structure, Bloomberg reports. The AI firm is already backed by Mubadala, Microsoft and Silver Lake. New capital could help finance its cloud, data-center and AI expansion, including a 5-gigawatt UAE-U.S. campus in Abu Dhabi. MGX, an investment vehicle backed by G42 and Mubadala, said in July that it raised $49 billion for a fund dedicated to AI deals.
LEBANON AUDIT
Lebanon has hired Alvarez & Marsal to examine more than four years of transactions at its central bank. The audit will cover October 2019 through 2023, including foreign assets, public-sector transfers and subsidies for fuel and other goods, Reuters reports. A previous audit by the consulting firm found misconduct under former central bank chief Riad Salameh, who denies allegations of financial crimes. Lebanon’s banking system collapsed in 2019, locking depositors out of their savings, while its fuel subsidies later cost the government about $3 billion a year.
💲 Sovereign Circuit
Public Investment Fund: Humain, the AI company owned by the Saudi sovereign wealth fund, plans to launch a new venture capital fund later this year, CEO Tareq Amin told Semafor. Meanwhile, Humain and Advanced Micro Devices announced that they plan to invest as much as $10 billion over the next five years in AI infrastructure across the kingdom and the U.S.
Aramco: Kuwait-founded COFE Tech secured funding from Saudi Aramco’s Wa’ed Ventures and other investors at a $178 million valuation ahead of its planned IPO, expanding its enterprise AI and B2B SaaS business across the GCC.
Qatar Investment Authority: The QIA said it has committed $40 billion in new U.S. investments since the start of the Iran war, while continuing to identify opportunities and adjust its portfolio.
Kuwait Investment Authority: Kuwait will allow the government to borrow from the KIA’s Future Generations Fund to bolster public finances amid the economic fallout from the U.S. war with Iran.
↪↩ Closing Circuit
💳 Amex Exit: The Saudi Investment Bank agreed to sell its 50% stake in American Express Saudi Arabia to joint-venture partner Amex Middle East for $381.4 million in cash, making Amex Middle East the company’s sole owner.
🛢️ Oil Investment: Egypt plans to invest $4.5 billion to upgrade existing oil refineries and build new units to boost capacity and reduce reliance on imported refined fuel.
🤖 AI Tools: Dutch-Israeli startup Wonderful raised $550 million at a $5 billion valuation to expand its platform for installing AI tools in large companies and boost its workforce from 650 to more than 1,000 employees, The Wall Street Journal reports.
🗣 Circuit Chatter
🏫 School Test: The reopening of Dubai’s international schools for the academic year is being seen as a test of the emirate’s ability to retain and attract affluent expatriate families after the U.S.-Iran war, the Financial Times reports.
🏭 Saudi Lenovo: Lenovo plans to begin commercial production later this year at its new Riyadh factory, its largest outside China and the first to make laptops, desktops, servers and Motorola smartphones at one site.
🎨 Broker Brawl: Dubai Sotheby’s International Realty is being sued by Luxhabitat, which alleges the broker diverted and underreported revenue to avoid paying its contractual share, Bloomberg reports.
🚛 Desert Detour: Some 5,000 tanker trucks a day are carrying Iraqi oil across Syria to the Mediterranean, testing a route that could bypass the Strait of Hormuz and lay the groundwork for a proposed Chevron-led pipeline, the Washington Post reports.
🚢 Stalled Port: War with Iran has stifled business at Dubai’s Jebel Ali port, highlighting its dependence on shipping through the Strait of Hormuz, the Financial Times reports.
🌍 Power Circuit
UAE President Sheikh Mohamed bin Zayed held a phone call with U.S. President Donald Trump on Wednesday that focused on “developments in the Middle East and ongoing efforts to address them,” the Emirates News Agency reports.
Sheikh Mohamedsent a written invitation to Qatar’s Emir Sheikh Tamim Bin Hamad to participate in the 2026 U.N. Water Conference that will be held in Abu Dhabi in December.
Sheikh Tamimreceived a message from Uzbek President Shavkat Mirziyoyev, delivered by his daughter and presidential administration chief Saida Mirziyoyeva during a meeting at Qatar’s Lusail Palace.
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, told the cabinet in Abu Dhabi that the government must maintain the UAE’s pace of development while strengthening its professional systems, infrastructure and international relationships.
Sheikh Tahnoon bin Zayed, the UAE National Security Adviser, met with White House Envoy Steve Witkoff last weekend to discuss next steps on Iran, Axios reports.
Sheikh Khaled bin Mohamed bin Zayed, Crown Prince of Abu Dhabi, met withLisa Su, Chair and CEO of Advanced Micro Devices, to discuss, avenues for collaboration in AI, high-performance computing, cloud computing and data center infrastructure
Sheikh Mohammed bin Abdulrahman, Qatar’s Foreign Minister, held a phone call with Egypt’s Foreign Minister Badr Abdelatty on Wednesday to discuss regional developments.
Sheikh Nahyan bin Zayed, President of the Zayed Al-Khair Foundation and Chairman of the Abu Dhabi Sports Council, attended the inauguration of China’s ROX electric vehicle factory in Abu Dhabi.
➿ On the Circuit
Mohammed Al-Jadaan, the Saudi Finance Minister, urged G20 countries to protect against future economic shocks by diversifying production, maintaining adequate inventories and building spare infrastructure capacity, speaking on Wednesday at the meeting of G20 Finance Ministers and Central Bank Governors in Asheville, North Carolina.
Lana Zaki Nusseibeh, UAE Minister of State, received a copy of the credentials of Geraldine McCafferty, Ambassador of the United Kingdom of Great Britain and Northern Ireland to the UAE.
Ayman AlGhamdi, President of Microsoft Arabia, said the company’s new Saudi data center region will spur investment and hiring by enabling hundreds of international software firms to launch locally hosted services.
Joseph Olasunkanmi Tegbe, Nigeria’s Minister of Power, said his country is discussing proposals with the UAE to strengthen electricity generation capacity.
Noor Sweid, Founder and Managing Partner at Dubai-based Global Ventures, wrote on Substack that even if inflation has slowed, prices remain painfully high. She asks what it would cost “to buy back the life you had ten years ago.”
🎶 Culture Circuit
🏙️ Urban Traces: Kuwaiti artist and architect Hamad Almuzaini is turning cracked sidewalks, abandoned maintenance equipment and other overlooked features of Kuwait City into art. His first solo exhibition, “Precarious Beings,” uses photographs, drawings and sculpture to examine the unplanned marks people leave on a city, Gulf News reports. The show runs through Oct. 11 at the Tashkeel art center in Dubai.
📷 Photo of the Day
Roads to Cairo International Airport are festooned with Chinese flags and billboards, welcoming China’s President Xi Jinping to Egypt and marking 70 years of diplomatic relations between the two countries (Khaled DESOUKI / POOL / AFP via Getty Images)
Aug. 30-Sept. 2, Riyadh. Big 5 Construct Saudi. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.
Aug. 31-Sept. 3, Riyadh. LEAP Expo Riyadh. A major tech trade show for the Middle East, which includes a global startup live pitch event. Riyadh Exhibition & Convention Center.
Sept. 1-3, Dubai. Middle East Energy. A three-day 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. 7-8, Abu Dhabi. Hili Forum. The event brings policymakers and leading experts to examine the future of regional security, trade and energy corridors and technology. The St. Regis Saadiyat Island Resort.
Sept. 7-9, Dubai. AIM Congress. The global investment platform’s annual meeting brings together investors, governments, businesses and policymakers. Dubai World Trade Centre.
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. 14-16, Riyadh. Money20/20. The event brings together banks, Big tech, fintechs, regulators, startups and investors. Riyadh Exhibition & Convention Center.
Sept. 14-17, Bangkok. Gastech. The global energy event brings together global energy leaders, policymakers and industry experts to explore natural gas, LNG, hydrogen, low-carbon solutions, electrification and AI. Bangkok International Trade & Exhibition Centre.
Sept. 14-17, 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. 16-18, Dubai. GISEC Global. MENA’s largest cybersecurity event brings together governments, CISOs, technology companies and cybersecurity experts to explore emerging threats, AI security, and other technologies. Dubai Exhibition Centre.
Sept. 20, New York. Qatar Economic Forum. The forum will host a special leadership gathering alongside the 2026 U.N. General Assembly 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. 6-7, Abu Dhabi. Ai Everything. The AI forum brings together policymakers, innovators and business leaders. 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, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.
Oct. 26-29, Riyadh. Future Investment Initiative. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Conference Center.
The Daily Circuit: Adam Neumann Flows into UAE + Humain’s Brain trust
In today’s Daily Circuit, we’re reporting on Humain’s AI venture with Jared Kushner’s Brain Co., Saudi Arabia’s Kingdom Holding completing its $224 million acquisition of the Al Hilal football club, Oman Air rebuilding its cargo operation and Chinese President Xi Jinping’s arrival in Egypt. But first, former WeWork chief Adam Neumann is concentrating the operations of his real estate company, Flow, in the UAE.
Adam Neumann is bringing Flow, his post-WeWork residential real estate venture, to the UAE.
The company has obtained a Dubai International Financial Centre license and is negotiating for its first properties in Dubai and Abu Dhabi, with openings planned by early 2027, The National reports.
Flow, founded in 2021 with $350 million from Andreessen Horowitz, represents Neumann’s comeback after WeWork’s failed IPO, his 2019 ouster and the company’s 2023 bankruptcy.
The firm entered Saudi Arabia in 2024 and now says it manages or is developing 8,500 homes in a portfolio valued at $2.5 billion.
Arif Shah, CEO of Flow UAE, said the team in Dubai will also oversee and support Flow development projects globally, initially across the U.S. and Saudi Arabia.
Editor’s Note: Have thoughts or feedback? Hit reply or drop us a note at [email protected].
📰 Developing Stories
AI ALLIANCE
Jared Kushner’s artificial intelligence startup, Brain Co., is teaming up with Saudi Arabia’s Humain company to develop business applications for AI. The companies announced on Tuesday they will join Humain’s computing infrastructure and AI models with Brain Co.’s technology to build tools for Saudi businesses and government agencies. Humain is owned by Saudi Arabia’s Public Investment Fund. Kushner co-founded Brain Co. with technology investor Elad Gil, incubating the startup through his investment firm, Affinity Partners. Brain Co. emerged from stealth last year after raising $30 million in a funding round co-led by Affinity and Gil Capital.
CHINA CONNECTION
Chinese President Xi Jinping landed in Egypt on Tuesday, where President Abdel Fattah el-Sissi greeted him with a red-carpet ceremony at Cairo’s airport. The visit comes as China expands its role in Egypt’s economy through its Belt and Road program, including projects in the Suez Canal Economic Zone and Cairo’s New Administrative Capital. China has invested more than $10 billion in Egypt, while trade between the countries has grown to about $20 billion a year. Xi, making his first visit to Egypt in a decade, also plans to tour the Grand Egyptian Museum near the pyramids of Giza.
💲 Sovereign Circuit
Public Investment Fund: PIF-owned Humain said it has begun construction with Riyadh-based DataVolt on a data center at Neom’s Oxagon development.
Kingdom Holding: Saudi Arabia’s Kingdom Holding said it has completed its acquisition of a 70% stake in Al Hilal football club from the PIF for $224 million.
Abu Dhabi Investment Council: The $160 billion fund hired Lori Hall-Kimm, outgoing Head of Global Private Equity for the Healthcare of Ontario Pension Plan, as Chief Investment Officer for its private equity business, Bloomberg reports.
Qatar Investment Authority: Lesha Bank, in which QIA is a partner, has acquired equity interests in a $1 billion aviation asset-backed securities portfolio of 18 aircraft leased to nine airlines across eight countries.
↪↩ Closing Circuit
💵 Export East: Egypt’s exports to China tripled to nearly $840 million in the first half of 2026 after Beijing removed tariffs on Egyptian goods.
⛽ Gas Production: BP has brought Egypt’s Fayoum 4 gas well online two years ahead of schedule, adding an estimated 80 million cubic feet per day as Cairo seeks to boost domestic output and reduce costly LNG imports.
📈 Investment Commitment: Saudi Arabia’s Vision Invest and Africa Finance Corporation have committed $300 million to invest in Mauritius-based WIOCC Group.
🪖 Military Business: The U.S. State Department approved Iraq’s request for an $800 million package of Bell 412EPX utility and Bell 407M tactical helicopters, along with machine guns, rocket launchers, equipment and services.
🗣 Circuit Chatter
🛫 Cargo Comeback: Oman Air plans to rebuild its dedicated freighter operation through partnerships and block-space agreements, taking a lower-risk approach after selling its sole cargo aircraft in 2025, its head of cargo, Mike Duggan, told Arabian Gulf Business Insight.
🚧 Local Supply: Saudi Arabia is sourcing more pipes, cabling and concrete locally for Expo 2030 Riyadh to shield the project from war-related supply chain disruptions, according to Bechtel delivery director Kevin Beaver.
🌐 Cloud Migration: Accenture has signed a six-year agreement with Amazon Web Services to help Middle Eastern businesses and governments modernize legacy systems, migrate to the cloud and deploy AI.
🏢 New Bureau: Swiss hedge fund ADAPT Investment Managers, which manages $2 billion, has opened its fourth office in Abu Dhabi, joining a growing number of financial firms expanding in the emirate despite regional conflict.
🌍 Power Circuit
UAE President Sheikh Mohamed bin Zayedmet withMasrour Barzani, Prime Minister of the Kurdistan Region of Iraq, in the presence of Sheikh Mohammed bin Rashid, Vice President, Prime Minister and Ruler of Dubai.
Sheikh Mohamed and Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of the northern emirate of Ras Al Khaimah, met withSheikh Mohammed bin Butti on the passing of his wife.
Sheikh Hamdan bin Mohammed bin Rashid, Crown Prince of Dubai and the UAE’s Deputy Prime Minister and Defense Minister, directed Dubai Future Week to be held from Nov. 18 to 21.
Sheikh Dr. Sultan bin Mohammed Al Qasimi, Ruler of Sharjah, has directed that Sudanese students continue receiving free education at Sudan Private School in Sharjah.
➿ On the Circuit
Anas Sarwar, the U.K.’s new Minister of State for Trade, told The National that the government is ready to sign an agreement with the Gulf Cooperation Council and begin preparatory work towards a deeper bilateral agreement with the UAE.
Lana Zaki Nusseibeh, UAE Minister of State, received a copy of the credentials of Marie Audouard, Ambassador Extraordinary and Plenipotentiary of France to the UAE.
Ahmad Jaradatwas appointed Head of Personal Banking at Jordan Ahli Bank, joining the management team with more than 25 years of experience in branch management, retail banking, and business development.
🎶 Culture Circuit
🤼 Weighty Competition: Professional sumo wrestling is coming to the UAE for the first time, with nine elite wrestlers competing in 36 round-robin bouts at Abu Dhabi’s Space42 Arena on Sept. 26. The lineup includes Japan’s Ichi, a winner of the Emperor’s Cup; Hiroki, billed as the world’s heaviest sumo champion; and Ramy El-Gazar of Egypt, a 10-time national champion, Gulf News reports. The evening will also feature traditional wrestler introductions and Japanese taiko drumming, along with themed food stalls and photo opportunities.
📷 Photo of the Day
Fans of Saudi Pro League club Al Hilal unfurl a giant “tifo” banner depicting a diver face-to-face with a shark, a play on the club’s “Blue Wave” identity, before last night’s match against Al Ahli at Kingdom Arena in Riyadh (Abdullah Ahmed/Getty Images)
Aug. 30-Sept. 2, Riyadh. Big 5 Construct Saudi. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.
Aug. 31-Sept. 3, Riyadh. LEAP Expo Riyadh. A major tech trade show for the Middle East, which includes a global startup live pitch event. Riyadh Exhibition & Convention Center.
Sept. 1-3, Dubai. Middle East Energy. A three-day 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. 7-8, Abu Dhabi. Hili Forum. The event brings policymakers and leading experts to examine the future of regional security, trade and energy corridors and technology. The St. Regis Saadiyat Island Resort.
Sept. 7-9, Dubai. AIM Congress. The global investment platform’s annual meeting brings together investors, governments, businesses and policymakers. Dubai World Trade Centre.
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. 14-16, Riyadh. Money20/20. The event brings together banks, Big tech, fintechs, regulators, startups and investors. Riyadh Exhibition & Convention Center.
Sept. 14-17, Bangkok. Gastech. The global energy event brings together global energy leaders, policymakers and industry experts to explore natural gas, LNG, hydrogen, low-carbon solutions, electrification and AI. Bangkok International Trade & Exhibition Centre.
Sept. 14-17, 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. 16-18, Dubai. GISEC Global. MENA’s largest cybersecurity event brings together governments, CISOs, technology companies and cybersecurity experts to explore emerging threats, AI security, and other technologies. Dubai Exhibition Centre.
Sept. 20, New York. Qatar Economic Forum. The forum will host a special leadership gathering alongside the 2026 U.N. General Assembly 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. 6-7, Abu Dhabi. Ai Everything. The AI forum brings together policymakers, innovators and business leaders. 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, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.
Oct. 26-29, Riyadh. Future Investment Initiative. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Conference Center.
Adam Neumann’s Flow real estate venture makes UAE debut
Adam Neumann is bringing Flow, his post-WeWork residential real estate venture, to the UAE.
The company has obtained a Dubai International Financial Centre license and is negotiating for its first properties in Dubai and Abu Dhabi, with openings planned by early 2027, The National reports.
Flow, founded in 2021 with $350 million from Andreessen Horowitz, represents Neumann’s comeback after WeWork’s failed IPO, his 2019 ouster and the company’s 2023 bankruptcy.
The firm entered Saudi Arabia in 2024 and now says it manages or is developing 8,500 homes in a portfolio valued at $2.5 billion.
Arif Shah, chief executive of Flow UAE, said the team in Dubai will also oversee and support Flow development projects globally, initially across the U.S. and Saudi Arabia, he said.
The Daily Circuit: Humain to deploy self-driving trucks + Arada invests in Syria
In today’s Daily Circuit, we’re reporting on Saudi Arabia’s early talks with banks to raise some$8 billion, the UAE’s Arada signing a $7 billion development deal with the Syrian Sovereign Fund, Abu Dhabi defense contractor EDGE’s expansion plans in Europe, and Egypt introducing a tethered balloon to let tourists fly above the Giza Pyramids. But first, Humain is planning to roll out droves of autonomous trucks on Saudi highways.
Saudi Arabia wants to deploy self-driving trucks on its roads by 2030 as it turns its vast desert highways into an alternative freight route to the war-disrupted Strait of Hormuz.
Humain, an artificial intelligence majority-owned by the kingdom’s Public Investment Fund, announced on Monday that it’s teaming up with California-based Applied Intuition to build a national autonomous logistics network that could eventually include robotaxis and ports.
Applied Intuition has opened an office in Riyadh, and Humain CEO Tareq Amin said that together the two companies “will make this region the first to deploy autonomous trucking at scale.”
Humain has been building data centers and investing in AI companies since its launch last year. Recently, it took a stake in AI video-generation startup Luma AI and formed a joint venture with chipmaker Advanced Micro Devices and Cisco Systems to increase data center capacity in Saudi Arabia.
The project also advances the Saudi sovereign wealth fund’s push into logistics as attacks by Iran and Yemen’s Houthis have made shipping treacherous through the Strait of Hormuz and the Red Sea.
Editor’s Note: Have thoughts or feedback? Hit reply or drop us a note at [email protected].
📰 Developing Stories
DAMASCUS DEAL
UAE developer Arada signed a $7 billion agreement with the Syrian Sovereign Fund to build its first project in Syria. The development will include homes, schools, healthcare facilities and entertainment venues. The deal marks a step toward warmer ties between Damascus and the UAE, which has moved more cautiously than Saudi Arabia and Qatar in engaging with President Ahmed al-Sharaa’s government, Reuters reports. Syria is seeking foreign investment to rebuild an economy devastated by more than a decade of war and Western sanctions, most of which have been lifted.
SAUDI DEBT
Saudi Arabia is in early talks with banks to raise at least $8 billion as the Iran war strains government finances and disrupts trade. The National Debt Management Center has begun sounding out banks about a potential deal, while Saudi Aramco is holding separate loan discussions, Bloomberg reports. The borrowing push comes as higher import costs and supply-chain disruptions add to Saudi financial pressures. Government debt stood at $449 billion at the end of the second quarter.
💲 Sovereign Circuit
Public Investment Fund: Humain launched an “AI in a Box” package using AMD chips designed to make AI computing more accessible to Saudi companies.
Aramco: Ahmad Al-Khowaiter, Executive Vice President of Technology & Innovation, spoke about Aramco’s role in industrial AI on Monday at the LEAP Expo Riyadh conference.
Abu Dhabi Investment Authority: An ADIA subsidiary has joined Temasek, CPP Investments, AustralianSuper, and Indian institutions as an investor in the first close of India’s $3.2 billion government-backed NIIF Infrastructure Fund II.
EDGE: The Abu Dhabi-based defense group is deepening its European expansion, with the company expecting international business to account for a growing share of its portfolio, Arabian Gulf Business Insight reports.
↪↩ Closing Circuit
🌮 Taco Time: Americana Restaurants, the Middle East operator of KFC and Pizza Hut, will bring Taco Bell back to the UAE under a deal with Yum! Brands and plans to expand the chain across other Gulf countries, Arabian Gulf Business Insight reports.
💰 Waterfront Fund: Alistithmar Capital, the investment banking arm of the Saudi Investment Bank, has acquired the Jeddah Cove waterfront development through a $293 million fund, with Ezdihar Real Estate as the developer.
💵 Financial Help: Qatar Development Bank said it provided nearly $550 million in direct financing to Qatari businesses in 2025, alongside $165 million in indirect financing.
🗣 Circuit Chatter
⛽ LNG Trouble: The Iran war has doubled the cost of an imported LNG cargo for Egypt to about $80 million from $40 million before the conflict, Petroleum Minister Karim Badawi said.
☀️ Panel Squeeze: Gulf solar panel imports plunged after the U.S.-Iran war disrupted shipping, with imports falling 90% in the UAE, 81% in Saudi Arabia, 89% in Oman and 68% in Iraq between March and June, according to Rystad Energy.
🛞 Lambo Jam: Some of London’s most exclusive neighborhoods are clogged with Ferraris, Lamborghinis and McLarens bearing license plates from Qatar and other Gulf countries, racking up unpaid parking tickets, The Wall Street Journal reports.
🌍 Power Circuit
Sheikh Tahnoon bin Zayed, UAE National Security Adviser, along with co-investors, owns a 49% stake in the company created to house the Trump family’s World Liberty Financial’s banking venture, WSJ reports.
Sheikh Zayed bin Hamad bin Hamdan, Chairman of the National Anti-Narcotics Authority, met withMohamed Lahritani, Director-General of Mauritanian National Security, and his accompanying delegation on Monday.
Qatar’s Emir Tamim bin Hamad Al Thani met with Darren Woods, Chairman and CEO of ExxonMobil, at Lusail Palace on Tuesday.
China’s President Xi Jinping began a state visit to Egypt on Tuesday, marking the 70th anniversary of diplomatic relations between the two countries with a message published in Al-Ahram daily.
➿ On the Circuit
Egypt’s President Abdel Fattah El-Sisihas ordered the acceleration of Egypt’s civil aviation development, including airport modernization, a new Terminal 4 at Cairo International Airport, greater private-sector participation and investment zones to attract foreign investment.
Fahd Al-Dosari, Saudi Ambassador to Lebanon, met withRania Al-Mashat, Executive Secretary of the UN Economic and Social Commission for Western Asia, at the U.N. body’s headquarters in Beirut on Monday.
David Layton will step down as CEO of Partners Group after redemption pressure on its flagship funds this year hit the share price of the Swiss private equity manager, the Financial Times reports.
🎶 Culture Circuit
🎈 Pyramid High: Visitors to Egypt’s Giza Pyramids will soon be able to see the ancient monuments from 150 meters (492 feet) above the desert in a new tethered-balloon attraction. The 15-minute ride is being developed by Egypt’s Tashereef Tourist Marketing with France’s Aerophile, which specializes in such balloon rides, Al Ahram reports.
📷 Photo of the Day
Zaki Nusseibeh, Cultural Adviser to the President of the UAE and Chancellor of the United Arab Emirates University (center), officially opened the UAEU Medical Simulation Centre on Monday, accompanied by members of the University’s senior leadership (UAEU)
Aug. 30-Sept. 2, Riyadh. Big 5 Construct Saudi. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.
Aug. 31-Sept. 3, Riyadh. LEAP Expo Riyadh. A major tech trade show for the Middle East, which includes a global startup live pitch event. Riyadh Exhibition & Convention Center.
Sept. 1-3, Dubai. Middle East Energy. A three-day 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. 7-8, Abu Dhabi. Hili Forum. The event brings policymakers and leading experts to examine the future of regional security, trade and energy corridors and technology. The St. Regis Saadiyat Island Resort.
Sept. 7-9, Dubai. AIM Congress. The global investment platform’s annual meeting brings together investors, governments, businesses and policymakers. Dubai World Trade Centre.
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. 14-16, Riyadh. Money20/20. The event brings together banks, Big tech, fintechs, regulators, startups and investors. Riyadh Exhibition & Convention Center.
Sept. 14-17, Bangkok. Gastech. The global energy event brings together global energy leaders, policymakers and industry experts to explore natural gas, LNG, hydrogen, low-carbon solutions, electrification and AI. Bangkok International Trade & Exhibition Centre.
Sept. 14-17, 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. 16-18, Dubai. GISEC Global. MENA’s largest cybersecurity event brings together governments, CISOs, technology companies and cybersecurity experts to explore emerging threats, AI security, and other technologies. Dubai Exhibition Centre.
Sept. 20, New York. Qatar Economic Forum. The forum will host a special leadership gathering alongside the 2026 U.N. General Assembly 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. 6-7, Abu Dhabi. Ai Everything. The AI forum brings together policymakers, innovators and business leaders. 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, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.
Oct. 26-29, Riyadh. Future Investment Initiative. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Conference Center.
Humain to launch self-driving trucks across Saudi Arabia
Saudi Arabia wants to deploy autonomous trucks on its roads by 2030 as it turns its vast desert highways into an alternative freight route to the war-disrupted Strait of Hormuz.
Humain, an artificial intelligence owned by the kingdom’s Public Investment Fund and Saudi Aramco, announced on Monday that it’s teaming up with California-based Applied Intuition to build a national autonomous logistics network that could eventually include robotaxis and ports.
Applied Intuition has opened an office in Riyadh, and Humain CEO Tareq Amin said that together the two companies will make this region the first to deploy autonomous trucking at scale.”
Humain has been building data centers and investing in AI companies since its launch last year. Recently, it took a stake in AI video-generation startup Luma AI and formed a joint venture with chipmaker Advanced Micro Devices Inc. and Cisco Systems Inc. to increase data center capacity in Saudi Arabia.
The project also advances the Saudi sovereign wealth fund’s push into logistics as attacks by Iran and Yemen have made shipping treacherous through the Strait of Hormuz and the Red Sea.
Shipping draws pension funds amid disruptions in Middle East
Shipping is drawing increased interest from pension funds and institutional investors.
As war-related disruptions in the Middle East keep vessel prices and freight rates near historic highs, Asset managers say investors are seeking exposure to “hard asset, low obsolescence” investments, the Financial Times reports.
The closure risks around the Strait of Hormuz and disruptions in the Red Sea have lengthened shipping routes and tightened vessel availability, supporting earnings and asset values.
Hayfin is raising a new maritime fund targeting twice the $620 million raised for its previous vehicle, while JPMorgan Asset Management has ordered at least eight oil supertankers worth about $1.3 billion, the FT says.
The Daily Circuit: UAE probes Banque Misr + ePointZero to buy Azura
In today’s Daily Circuit, we’re reporting on Abu Dhabi’s ePointZero agreeing to acquire London-based Azura Power, the UAE granting a 10-year license to Elon Musk’s Starlink internet service, renewed interest from pension funds in the global shipping industry, and Dubai’s Museum of the Future closing its doors for the next five months or so to install exhibits that keep up with new technologies. But first, the UAE follows up on U.S. concerns about Egypt’s Bank Misr.
The UAE is investigating Banque Misr after U.S. authorities moved to cut the Egyptian bank’s local branches off from the American financial system because of their concerns about links to Iran.
The Central Bank said it will conduct a “special and urgent” forensic review of transactions involving companies flagged by U.S. officials, The National reports.
The proposed U.S. penalty would block Banque Misr UAE from using American banks to clear dollar transactions, severely restricting its ability to conduct international business.
Banque Misr’s five UAE branches continue to operate normally while the UAE and Egyptian central banks coordinate their response to the proposed U.S. measure, Al-Ahram reports. Banque Misr issued a statement saying that it “affirms its full respect” for the process and the laws and will fully cooperate with the probe.
The UAE regulator said it’s weighing its own action against Banque Misr while seeking to protect the bank’s customers.
Editor’s Note: The Circuit will not publish on Friday when the UAE observes Mawlid Al Nabawi, the birthday of the Prophet Muhammad. We’ll return on Monday.
📰 Developing Stories
DRONE DROWNED
The UAE intercepted an Iranian drone today over its territorial waters. The Foreign Ministry called the incursion a “dangerous escalation” and a violation of the country’s sovereignty, the Associated Press reports. The attack came after the U.S. and Iran traded fire over the weekend, ending a month-long lull in significant military action. Brent crude jumped above $90 a barrel amid renewed concern about shipping through the Strait of Hormuz.
ALTERNATIVE INVESTMENTS
Shipping is drawing increased interest from pension funds and institutional investors. As war-related disruptions keep vessel pricesand freight rates near historic highs, Asset managers say investors are seeking exposure to “hard asset, low obsolescence” investments, the Financial Times reports. The closure risks around the Strait of Hormuz and disruptions in the Red Sea have lengthened shipping routes and tightened vessel availability, supporting earnings and asset values. Hayfin is raising a new maritime fund targeting twice the $620 million raised for its previous vehicle, while JPMorgan Asset Management has ordered at least eight oil supertankers worth about $1.3 billion, the FT says.
💲 Sovereign Circuit
Mubadala: Abu Dhabi’s Alpha Dhabi Holding doubled its commitment to MICAD Credit, its private credit joint venture with Mubadala Capital, to $1 billion, and doubled its stake in the business to 40%.
2PointZero: Abu Dhabi’s ePointZero agreed to acquire a 90% stake in London-based Azura Power, which has gas, renewable energy and battery storage interests in Africa.
QatarEnergy: QatarEnergy has extended a force majeure suspension of LNG deliveries to major European customer Edison until early November due to the US-Iran war, Reuters reports.
Oman Investment Authority: OQ Gas Networks is set to complete three major gas pipeline projects by the end of 2027, adding capacity to support industrial growth in Sohar, Ibri and Duqm.
↪↩ Closing Circuit
🌐 Rolling Out: The UAE has granted Elon Musk’s Starlink a 10-year license to provide satellite internet services across the country as it seeks to enhance telecommunications infrastructure.
💎 New Product: Dubai’s commodities-focused free zone DMCC has launched a dedicated Lab-Grown Diamond Vertical as the UAE recorded its highest-ever lab-grown diamond trade volumes in 2025.
💻 Step Ahead: UAE tech giant e& has launched its first AI-powered laptop, enabling government and enterprise users to run AI tools and process data offline using built-in large language models.
🗣 Circuit Chatter
🏛️ Temporary Closure: Dubai’s Museum of the Future will close on Tuesday for a major overhaul, with a new generation of interactive and immersive experiences set to launch in the first quarter of 2027.
🌊 Staying Still: Egypt’s cabinet on Sunday denied reports that the government plans to transfer ownership of the Suez Canal to the Central Bank of Egypt in exchange for settling part of the state’s domestic debt.
💵 Seeking Cash: Gulf states face rising borrowing costs as war-related spending and development plans compete with surging U.S. debt and AI investment for global capital, economists tell Arabian Gulf Business Insight.
🌍 Power Circuit
UAE President Sheikh Mohamed bin Zayedmet withSheikh Mohammed Bin Rashid, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Saturday in Dubai.
Sheikh Mohammed bin Rashidvisited the 23rd edition of the Abu Dhabi International Hunting and Equestrian Exhibition, known as ADIHEX, on Sunday at ADNEC Centre in Abu Dhabi.
Prince Khalid bin Salman, Saudi Defense Minister, met with senior officials from Turkey and Pakistan in Istanbul to attend their first meeting under the Mecca Joint Defense Agreement.
➿ On the Circuit
Michael Dyke, CEO of Saudi Arabia’s New Murabba, has been replaced by Public Investment Fund executive Sabah Barakat, who was named acting CEO.
Aliko Dangote, Africa’s richest man, is formalizing long-term plans for the governance and preservation of his business empire as his family office in Dubai International Financial Center prepares to expand operations in 2027.
Layla Al Qassab was appointed Director of Finance of Aluminium Bahrain, Alba, the world’s largest aluminum smelter on one site; Taimur Tufail was appointed Manager, Legal and Aysha Salem as Manager, Organization Development & HR Analytics.
Hitesh Motwaniwas appointed CEO of InsuranceMarket.ae as founder Avinash Babur moved into the role of Chairman of InsuranceMarket.ae while continuing as Founder and Chairman of Alfred Holdings.
🎶 Culture Circuit
🎷 Sacred Jazz: Saudi artist Sultan bin Fahad explores the ties between Islam and jazz in an exhibition that runs for the next two weeks at Dubai’s Alserkal cultural district. The show explores John Coltrane’s A Love Supreme, highlights Muslim musicians Yusef Lateef and Art Blakey, and features a prison letter from Malcolm X, The National reports.
📷 Photo of the Day
Salwa Eid Naser of Bahrain competes in the Women’s 400-meter race on Sunday during the Banca Valsabbina Grand Prix Brescia 2026 in Brescia, Italy (Richard Morgano/NurPhoto via Getty Images)
Aug. 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.
Aug. 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. 7-8, Abu Dhabi. Hili Forum. The events bring policymakers and leading experts to examine the future of regional security, trade and energy corridors and technology. The St. Regis Saadiyat Island Resort.
Sept. 7-9, Dubai. AIM Congress. The global investment platform’s annual meeting brings together investors, governments, businesses and policymakers. Dubai World Trade Centre.
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. 14-16, Riyadh. Money 20/20. The event brings together banks, Big Tech, fintechs, regulators, startups and investors. Riyadh Exhibition & Convention Center.
Sept. 14-17, Bangkok. Gastech. The global energy event brings together global energy leaders, policymakers and industry experts to explore natural gas, LNG, hydrogen, low-carbon solutions, electrification and AI. Bangkok International Trade & Exhibition Centre.
Sept. 14-17 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. 16-18, Dubai. GISEC Global. MENA’S largest cybersecurity event brings together governments, CISOs, technology companies and cybersecurity experts to explore emerging threats, AI security, and other technologies. Dubai Exhibition Centre.
Sept. 20, New York. Qatar Economic Forum. The forum will host a special leadership gathering alongside the 2026 U.N. General Assembly 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. 6-7, Abu Dhabi. Ai Everything.The AI Summit brings together policymakers, innovators and business leaders. 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, 22, 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. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center.
