AI MISSION

Dubai has sent 50 chief artificial intelligence officers from government agencies on a 10-day trip to study technology use in the U.S. The group is scheduled to visit Google, Meta, OpenAI, Palantir, Nvidia, IBM, Amazon and Microsoft. Minister of State for Artificial Intelligence Omar Al Olama said in a statement that the trip underlines the UAE’s commitment to help integrate AI throughout government and business. The trip was organized by the UAE Office of Artificial Intelligence, Digital Economy and Remote Work Applications and the Dubai Center for Artificial Intelligence.

COPYCAT CHOCOLATE

The U.K.’s Food Standards Agency is fighting a scourge of counterfeit Dubai Chocolate. Among the raft of cases being investigated is a phony version of the wildly popular snack made by UAE-based Le Damas Sweets, The National reports. The fake chocolate mimics Le Damas’s packaging and includes a UAE flag tucked inside, but contains peanuts, which are not part of the original product, and is missing nut allergen warnings that are required in the U.K. Dubai Chocolate, which became an international viral sensation last year, was first made in the UAE by British-Egyptian entrepreneur Sarah Hamouda’s Fix Dessert Chocolatier’s Fix Dessert Chocolatier as a knafeh-filled chocolate bar mixed with pistachios.

ADQ: Serdal International, a joint venture of AD Ports Group and Abu Dhabi-based Resources Investment, launched a new passenger ferry service in the Comoros island archipelago in East Africa which will also be the first to also transport vehicles.

ADNOC: ADNOC Logistics and Services, a subsidiary of Abu Dhabi’s national oil company, will deploy an AI-powered “Smart Port Solution” to improve petroleum port operations. 

Mubadala: Mamoura Diversified Global Holding, a unit of Abu Dhabi’s Mubadala sovereign wealth fund, raised $858 million from its stake in Du telecom via a secondary share sale, Reuters reports.

Abu Dhabi Investment Council: Ben Samild will join ADIC, a unit of Mubadala, taking an unspecified executive role after resigning as Chief Investment Officer of Australia’s $168 billion sovereign wealth fund, Bloomberg reports.

🏢 City Projects: Kuwait has invited bids for the construction of three new cities intended to relieve housing shortages.

⛽ Gas Expansion: Iraq’s Basrah Gas Company asked IFC, a member of the World Bank Group, to lead a second loan of up to $500 million to further advance one of the world’s largest gas flaring reduction projects.

📈 Market Debut: Israeli mobility platform Via rose 7.6% on Friday on its first day of trading after completing an IPO on Nasdaq.

🛢️ Pipeline Funding: Kuwait Petroleum Corp. is weighing plans to raise as much as $7 billion by leasing part of its pipeline network to support a $65 billion investment program spanning upstream production and petrochemicals, Bloomberg reports.

📈 IPO Preparations: Dubai property developer Binghatti Holding Ltd. has begun groundwork for a possible IPO, Bloomberg reports.

🏗️ Engineering Stake: Alec Holdings, a Dubai-based engineering and construction group, plans to list 20% of its shares via an IPO on the Dubai Financial Market.

🤝 Raising Debt: Saudi Arabia-based fintech Tamara is set to secure at least $1.4 billion in asset-backed financing from lenders including Goldman Sachs, Citigroup and Apollo, in one of the Middle East’s largest such deals, Bloomberg reports. 

🏍️ Engineering Stake: Food delivery company Talabat resumed operations in Qatar on Sunday after a week-long suspension by the Ministry of Commerce and Industry. 

UAE President Sheikh Mohamed bin Zayed met in Dubai on Sunday with the family of Hussain Khansaheb, founder of the Khansaheb construction and engineering firm, to offer condolences after Khansaheb’s death. 

Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai, released the first part of his new book, “Almatani Alhayah,” Arabic for “Life Taught Me,” which will comprise 35 chapters about his career and philosophy.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, UAE Minister of Defense, Deputy Prime Minister, inaugurated the first international campus of the Indian Institute of Management Ahmedabad at Dubai International Academic City.

Sheikh Nahyan bin Mubarak, UAE Minister of Tolerance and Coexistence, attended a celebration honouring the Iranian community in the country, alongside Alireza Mahmoudi, the Consul General of Iran in Dubai and the Northern Emirates.

Ray Dalio, the billionaire founder and former CEO of Bridgewater Associates, said during the launch event for Abu Dhabi Finance Week 2025, which is in December, that the single most important principle an investor should be following is diversification, “particularly at a time of current uncertainty.”

Rashid Matar Al Manai, CEO of Abu Dhabi-based drone manufacturer Lodd, told Khaleej Times that the company is developing autonomous drones for parcel and cargo delivery to be launched by next year.

Bassam Al Tattan has been appointed Head of Private Banking at the National Bank of Bahrain. 

Ricky Hatton, the former British welterweight boxing champion, has died at the age of 46, three months before he was due to return to the ring for the “Destiny in the Desert” bout in Dubai against the UAE’s Eisa Al Dah.

🎤 Funny Festival: The full line-up for next month’s Dubai Comedy Festival has been announced, with American comedian and podcaster Andrew Schulz and Canadian comic Hassan Phills among the latest names to be finalized. The festival, which runs Oct. 2-12, has become a fixture in the Dubai cultural events calendar, drawing major international stars. Shows will take place at venues including Dubai Opera, Coca-Cola Arena and Mall of the Emirates.

Sept. 15-17, Abu Dhabi. The Riyadh Infrastructure Projects Center. The event will host representatives from over 25 countries discussing global infrastructure innovation, investment, and sustainable development. Riyadh International Convention and Exhibition Center.

Sept. 15-17, Dubai. ISM Middle East. A conference on emerging trends and advancements shaping the sweets and snacks industry. Dubai World Trade Center. 

Sept 15-17, Riyadh. Money 20/20. Shaping what’s next for money, finance, and tech in the region. Riyadh International Convention and Exhibition Center.

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers.The Agenda, Dubai Media City.

Sept. 23-25, Dubai. ArabLab. The Middle East and Africa’s longest-running event dedicated to the laboratory and analytical industry. Dubai World Trade Center. 

Sept. 24, Abu Dhabi. Syria Recovery and Investment Forum – Abu Dhabi Edition. Convening influential business leaders, regional investors, policymakers, and advisory experts to explore practical avenues for engagement in Syria’s recovery. ADNEC. 

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

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

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

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

BEAN COUNTER HQ

Professional services firm PwC unveiled its sleek new regional headquarters in Riyadh this week as it vowed a “strengthened commitment” to the kingdom. The Big Four firm has been scrambling to repair its relationship with Saudi Arabia’s Public Investment Fund since February, when the sovereign wealth fund banned it from any new advisory work for one year. While no official reason was given, PwC reportedly ruffled feathers when it attempted to recruit one of the fund’s senior executives working on the $500 billion Neom megaproject, where it was hired as a consultant. The suspension does not apply to the firm’s audit services. The new regional headquarters in Laysen Valley includes an experience center, forensics lab, PwC Academy, Majlis and wellness spaces.

ROAD TO MUSCAT

Oman will launch two new platforms in Asia to strengthen cross-border investment, including a Central Asia-focused fund with major Chinese participation. Speaking at the 10th Belt and Road Summit in Hong Kong, Ibrahim Al-Eisri, the Oman Investment Authority’s Chief Investment Officer of Private Markets, said the sovereign wealth fund has already collaborated with Chinese partners to establish three Oman-based investment funds with a combined value of nearly $700 million. He said the forthcoming Central Asia fund, with a Chinese limited partner, will build on OIA’s 15-year presence in the region. Oman’s strategic location, low energy costs and port infrastructure are appealing to Chinese partners, he said.

ADNOC: Abu Dhabi’s national oil company transferred stakes in some of its listed subsidiaries to its international investment arm XRG, consolidating ownership as the company strengthens its overseas portfolio, Reuters reports.

Public Investment Fund: Diriyah Co., the PIF-backed company developing a historic district of Riyadh, said it awarded $5 billion in contracts in the first half of 2025.

Investment Corp. of Dubai: Dubai Investments, which is backed by the investment arm of the Government of Dubai, is in talks with banks to sell shares of its Dubai Investment Park property unit on the stock market.

EDGE Group: MP3 International, a unit of the UAE’s state-owned military contractor, signed an agreement with India’s Kalyani Strategic Systems to buy artillery equipment.

🔌 Power Grid: The GCC Interconnection Authority and Sohar International Bank signed a $500 million financing agreement to build a 530 km, 400-kilovolt transmission line linking the UAE’s Al-Sila station with Oman’s planned Ibri station.

🩺 Nursing Search: TERN Group, a Dubai-based healthcare recruitment startup, raised $24 million in a Series A funding round led by U.K.-based Notion Capital.

💻 AI Support: Quack, an Israeli startup that develops proactive AI agents for customer support, raised $7 million in a seed funding round led by Hanaco Ventures and Storytime Capital.

🏝️ Strategic Decisions: Eshraq Investments sold land plots on Abu Dhabi’s Al Reem Island to Blue Lake Properties and Al Ain Properties for $72 million.

🧑🏽‍💻 Tech Hub: Oman is launching a $250 million AI-focused special economic zone in Muscat’s Seeb area, with Egypt’s Prime Group and local firm Afouq investing.

🍦 Icecream Overhaul: Dubai-based IFFCO Group, which is behind popular food brands including London Dairy, is seeking to restructure at least $1.5 billion in debt and has brought in Alvarez & Marsal as an advisor, Bloomberg reports.

🛵 Missing Delivery: Dubai-listed Talabat’s shares fell on Thursday and Friday after Qatar’s Ministry of Commerce and Industry suspended its food delivery operations in the country over unspecified “repeated violations.”

🌐 Fast Net: Starlink, the satellite internet firm led by billionaire Elon Musk, will now provide internet services in Lebanon after the cabinet granted it a license to operate.

🏢 Dubai Base: Fynd, India’s leading AI retail technology company, launched its Dubai operations with a new regional headquarters in Dubai CommerCity, supported by a partnership with Yavi Technologies. 

📈 Internal Audit: The Abu Dhabi Accountability Authority has updated its Internal Audit Rules to promote digital transformation, mandate data analytics for more effective oversight, and regulate audit firm appointments to ensure transparency and quality.

🛩️ Grounded: Israel Aerospace Industries, Elbit Systems and other Israeli arms-makers have been barred from the Dubai Air Show amid angry reactions in the region to Israel’s attack on Hamas negotiators meeting in Qatar, Bloomberg reports.

UAE President Sheikh Mohamed bin Zayed held a phone call with France’s President Emmanuel Macron. 

Sheikh Mohammed bin Abdulrahman, Qatar’s Prime Minister and Foreign Minister, will meet with U.S. Secretary of State Marco Rubio and other officials in Washington on Friday to discuss the latest developments in his country.

Reem Al Hashimy, UAE Minister of State for International Cooperation, made an official visit to New Delhi, where she met with Vikram Misri, Foreign Secretary at India’s Ministry of External Affairs. 

Lulzim Mjeku, Kosovo’s Ambassador to Saudi Arabia, told Arab News that direct flynas flights between Jeddah and Pristina will begin operating three times a week on Oct. 1, presenting a new business opportunity between the countries.

Imad Matarneh was appointed Chairman of the King Hussein Business Park in Jordan.

🎨 Art Zone: Galleries from around the world are flocking to exhibit their work at the annual Abu Dhabi Art Fair, which is set to open in November at the UAE capital’s Manarat Al Saadiyat cultural space. This year, the event will spotlight contemporary art in the Gulf, as well as from more than 30 countries including Nigeria, Algeria, Senegal, Tanzania, the Netherlands, and Peru, The National reports.

Sept. 12-14, Abu Dhabi. International Real Estate & Investment Show. A three-day event spotlighting the latest investment opportunities across the Middle East, Europe and the Asia Pacific regions. ADNEC.

Sept. 13, Abu Dhabi. M2 Expert Forum. Medical conference aimed at educating doctors and clinical practitioners in genomics. Dusit Thani Hotel.

Sept. 15-17, Abu Dhabi. The Riyadh Infrastructure Projects Center. The event will host representatives from over 25 countries discussing global infrastructure innovation, investment, and sustainable development. Riyadh International Convention and Exhibition Center.

Sept. 15-17, Dubai. ISM Middle East. A conference on emerging trends and advancements shaping the sweets and snacks industry. Dubai World Trade Center. 

Sept 15-17, Riyadh. Money 20/20. Shaping what’s next for money, finance, and tech in the region. Riyadh International Convention and Exhibition Center.

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers.The Agenda, Dubai Media City.

Sept. 23-25, Dubai. ArabLab. The Middle East and Africa’s longest-running event dedicated to the laboratory and analytical industry. Dubai World Trade Center. 

Sept. 24, Abu Dhabi. Syria Recovery and Investment Forum – Abu Dhabi Edition. Convening influential business leaders, regional investors, policymakers, and advisory experts to explore practical avenues for engagement in Syria’s recovery. ADNEC. 

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

Sept. 30-Oct.2, Dubai. WETEX. With more than 50,000 attendees from 60 countries in attendance last year, the 37th edition promises even more opportunities for local and international companies to exhibit their products and services on a global stage with key decision-makers. Dubai World Trade Center. 

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

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

GULF MOMENTUM

Citigroup CEO Jane Fraser sees the Gulf states sparking explosive growth in coming years across the region. “The Middle East is probably on a rip for the next decade or so in terms of how much investment and new industries, new clients are coming in,” Fraser told Bloomberg in an interview today while visiting Dubai. She highlighted the region’s expanding links with India and China as a powerful draw for global financial institutions like Citi, which has been building up operations alongside rivals such as Jefferies, Lazard, and JPMorgan. With governments accelerating privatizations and encouraging stock listings, Fraser also pointed to the Gulf as a global hotspot for IPOs, which have raised more than $5 billion this year.

TOKYO FOCUS

Saudi Arabia’s flagship business forum, the Future Investment Initiative, is expanding its global reach with a conference in Tokyo. The FII Priority Asia Summit is slated for Nov. 30 to Dec. 1, and represents a strategic move by the kingdom to strengthen partnerships with key Japanese financial institutions, Nikkei Asia reports. Major players such as Mitsubishi UFJ Financial Group and Sumitomo Mitsui are expected to attend the event, which is often referred to as “Davos in the desert.” The FII Institute, founded by Saudi Arabia’s Public Investment Fund, has also sponsored conferences in Hong Kong, Rio de Janeiro and Miami, where U.S. President Donald Trump spoke in February.

Public Investment Fund: Neo Space Group, backed by the Saudi sovereign wealth fund, acquired Display Interactive, which helps airlines improve inflight connectivity services. 

Public Investment Fund: Kiran Haslam, Chief Marketing Officer at Diriyah, said in an interview with Arabian Gulf Business Insights that the company is ambitious to become a global developer specialising in heritage projects once it completes the $63 billion giga-project on the edge of Riyadh.

ADNOC: Abu Dhabi’s national oil company is preparing to address the EU’s subsidy investigation into its $17.2 billion bid for Germany’s Covestro, Reuters reports. 

Qatar Investment Authority: U.S. quantum computing startup PsiQuantum has secured $1 billion from investors including the QIA in a funding round that was led by affiliates of BlackRock, along with Temasek and Baillie Gifford, valuing the company at $7 billion.

Abu Dhabi Investment Authority: Vantage Data Centers secured a $1.6 billion investment led by an affiliate of GIC and a unit of ADIA to scale up Asia-Pacific operations, including the purchase of a data center campus in Malaysia, Reuters reports.

Oman Investment Authority: A delegation led by Austrian Vice Minister of Finance Andreas Reichhardt met with senior officials this week from the OIA, as well as Oman’s Ministry of Finance, Ministry of Energy and Minerals and Ministry of Transport, Communications and Information Technology.

🛢️ Aramco Gas: BlackRock’s Global Infrastructure Partners unit has arranged about $10 billion in financing for a planned investment in Saudi Aramco’s natural gas infrastructure, Bloomberg reports. 

💵 Africa Push: Saudi Arabia’s Vision Invest is injecting $700 million into ARISE, a developer of special economic zones across Africa, one of the largest private infrastructure transactions in the continent to date.

⚡ Electric Power: Egypt’s Elsewedy Electric will invest nearly $2.5 billion in renewables and other projects in Algeria with talks underway for 10 additional projects in the upcoming year.

🚗 Local Cars: Chinese tire manufacturer Sailun Group broke ground on a new $1 billion factory in the Suez Canal Economic Zone.

🎲 Pit Bosses: Wynn Resorts is advertising a series of new jobs ahead of its planned 2027 opening of a $5 billion casino-hotel in the UAE emirate of Ras Al Khaimah, including pit bosses, dealers and several vice presidents for casino marketing.

⛏️ Gold Digging: Jordan’s Energy Minister Saleh Kharabsheh signed an executive gold ore exploitation agreement with Wadi Araba Mining Co.

🏢 Tall Towers: Global real estate consultancy Knight Frank is partnering with Henry Wiltshire International to expand its presence in Abu Dhabi’s prime residential sector.

💰 Funding Drought: Fundraising by Israeli venture capital funds this year is running at a pace 40% below that of 2024 as foreign funds reduce their investments in the country, Globes reports.

UAE President Sheikh Mohamed bin Zayed traveled to Oman today after visits on Wednesday to Bahrain and Qatar. The Emirati leader met with Oman’s Sultan Haitham, who greeted him at the Royal Airport outside Muscat. In Manama he met with Bahrain’s King Hamad and in Doha, he met with the Emir of Qatar Sheikh Tamim.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, met with Ousmane Sonko, Prime Minister of Senegal, at the Qasr Al Watan palace in Abu Dhabi.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, met with Dr Badr Abdel Ati, Egypt’s Minister of Foreign Affairs and Migration in Abu Dhabi on Wednesday.

Jared Kushner, founder of Affinity Partners, investor Elad Gil and former Mexican Foreign Minister Luis Videgaray raised $30 million for Brain Co., a startup designed to help businesses and governments integrate artificial intelligence into their operations.

Ahmad Bin Shafar, CEO of Emirates Central Cooling Systems, known as Empower, delivered a keynote address on the role of district cooling in achieving sustainability goals at the International District Energy Conference for Latin America and the Caribbean in Santiago, Chile.

Ali Marshad was appointed as Group Deputy CEO for Buyside Business at SICO BSC, a regional asset manager with offices in Bahrain, Saudi Arabia and the UAE.

🛎️ Tall Order: Reservations have opened for the world’s tallest hotel, the $544 million Ciel Dubai Marina, which is taking bookings starting Nov. 15. Once open, the 377-meter (1,237-foot) skyscraper will overtake the Gevora Hotel on Sheikh Zayed Road and make Dubai the proud home of the world’s six tallest hotels. Ciel will also have the world’s highest Infinity Pool on the 77th floor, as well as a high-altitude club and restaurant under the Tattu Dubai brand that serves up Asian delicacies including wasabi lobster.

Sept. 12-14, Abu Dhabi. International Real Estate & Investment Show. A three-day event spotlighting the latest investment opportunities across the Middle East, Europe and the Asia Pacific regions. ADNEC.

Sept. 13, Abu Dhabi. M2 Expert Forum. Medical conference aimed at educating doctors and clinical practitioners in genomics. Dusit Thani Hotel.

Sept. 15-17, Abu Dhabi. The Riyadh Infrastructure Projects Center. The event will host representatives from over 25 countries discussing global infrastructure innovation, investment, and sustainable development. Riyadh International Convention and Exhibition Center.

Sept. 15-17, Dubai. ISM Middle East. A conference on emerging trends and advancements shaping the sweets and snacks industry. Dubai World Trade Center. 

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers.The Agenda, Dubai Media City.

Sept. 23-25, Dubai. ArabLab. The Middle East and Africa’s longest-running event dedicated to the laboratory and analytical industry. Dubai World Trade Center. 

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

Sept. 30-Oct.2, Dubai. WETEX. With more than 50,000 attendees from 60 countries in attendance last year, the 37th edition promises even more opportunities for local and international companies to exhibit their products and services on a global stage with key decision-makers. Dubai World Trade Center. 

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

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

DESERT DEALMAKER

David Amaryan, formerly a hedge fund manager and buyer of Goldman Sachs Group’s Russia unit, is expanding into the Gulf through his Armenia-based firm Balchug Capital. Amaryan, who opened an office in Dubai, told Bloomberg he wants to build a real estate and infrastructure portfolio worth up to $500 million. “The UAE continues to stand out as an international gateway with deep capital pools, transparent rule-of-law frameworks, and a clear commitment to attracting foreign capital,” Amaryan told the news agency in an email exchange. He is also exploring opportunities in commercial real estate, logistics, and data centers in Saudi Arabia.

TIGHT BOND

Aramco is tapping the international debt market in a two-part sale as Saudi Arabia ramps up its borrowing to plug funding gaps at its megaprojects amid ailing oil prices. The Saudi national oil company is offering five- and ten-year dollar-denominated Islamic bonds, known as sukuk, in the third major debt sale out of the kingdom in the past week, Bloomberg reports. It comes amid a burst of issuances that has seen Saudi raise nearly $20 billion in debt this year, including $7.5 billion raised by the government and the Public Investment Fund in the past week. Aramco, which is a key funding source for the Saudi government, has been boosting borrowings to help cover its massive dividend payments and fund projects. It previously raised $5 billion through a bond issuance in May.

Mubadala Capital and Qatar Investment Authority: New York-based private capital group Aquarian Holdings is in advanced talks with Mubadala Capital and the QIA to help raise more than $3 billion in equity to finance the acquisition of U.S. life insurer Brighthouse Financial, the Financial Times reports. Aquarian has already secured debt financing for the deal from Royal Bank of Canada, Nomura, and Société Générale.

Mubadala: Sequoia Capital-backed Swedish buy-now, pay-later service Klarna Group raised nearly $1.4 billion in a Wall Street IPO on Tuesday. The company said some of its existing investors sold 34.3 million shares at $40 each, Reuters reports. Mubadala held a 2% stake prior to the IPO. 

ADNOC: Abu Dhabi-based NMDC Group and ADNOC subsidiary ADNOC Logistics and Services, signed a three-year agreement to collaborate on delivering maritime services for offshore projects.

ADQ: Abu Dhabi-based Modon Holding invited 10 contractors to bid for infrastructure projects in the ADQ’s Ras Al Hekma development on Egypt’s Mediterranean coast.

🔌 Charging Push: Jeddah’s transportation authority signed a draft agreement with Saudi Arabia’s Petromin Co. to expand the city’s electric-vehicle charging network.

🤝 Water Pact: Abu Dhabi’s Department of Energy signed an agreement with Goldman Sachs to explore financing models, including foreign direct investment, to advance water security in the emirate.

📈 Debut Day: Shares in Dar Al Majed Real Estate Co. rose after its debut on Saudi Arabia’s Tadawul exchange following a $336 million IPO.

🏘️ Green Homes: Abu Dhabi’s sustainable community Masdar City has formed a joint venture with Taraf, the real estate division of UAE-based Yas Holding, to develop a 1.4 million square meter residential community.

💻 Chip Funding: ProteanTecs, an Israeli startup that monitors semiconductor performance, raised $51 million in a Series D funding round backed by Arm, Samsung, and Siemens.

💰 Equity Surge: Companies in the UAE have raised nearly $5 billion this year through follow-on equity offerings, five times the amount raised from IPOs, Bloomberg reports. 

🌀 Privately Owned: Bahrain sponsored the application by deep-sea U.S. mining company Impossible Metals for a mining permit with the International Seabed Authority.

🏦 Debt Access: Saudi Arabia’s Capital Market Authority approved a regulatory framework allowing licensed firms to offer sukuk Islamic bonds and debt instruments through crowdfunding platforms.

🇨🇳 Chinese Partners: Saudi Arabia and the UAE are top investment targets for Chinese companies in the Middle East due to their rapid economic transformation and location, PwC said in its latest survey.

⛽ Gas Boost: Chevron is working to increase supplies of Israeli natural gas to Egypt to meet “an insatiable appetite” for fuel, Freeman Shaheen, Chevron’s President for Global Gas, told Bloomberg.

UAE President Sheikh Mohamed bin Zayed flew into Doha on Tuesday and was welcomed at Hamad International Airport by Qatar’s Emir Sheikh Tamim and Qatar’s Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman Al Thani. The UAE President was accompanied by a high-level delegation, including Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Minister of Defense and Deputy Prime Minister; Sheikh Tahnoon bin Zayed, UAE National Security Adviser and Deputy Ruler of Abu Dhabi; Lt. Gen. Sheikh Saif bin Zayed, UAE Minister of the Interior and Deputy Prime Minister; and Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology.

Princess Reema Al Saud, Saudi Arabia’s Ambassador to the U.S., signed a Bilateral Work Agreement to strengthen diplomatic cooperation between the two countries. 

Sheikh Nasser bin Hamad Al Khalifa, the Representative of Bahrain’s King for Humanitarian Work and Youth Affairs, met with Jane Fraser, CEO of Citigroup.

Osama Al-Adhamy, was appointed as Managing Director and Principal Representative for 17 Capital’s Dubai International Financial Centre representative office, as it continues to expand its presence in the Middle East and North Africa.

Sami Al Ghassani was appointed Acting CEO of telecom provider Omantel after Talal bin Said Al Mamari stepped down.

🎶 Pipe Dream: The delicate music of the Bethlehem Organ was heard for the first time in 800 years on Tuesday, after an intensive restoration project. The world’s oldest church organ was played by medieval musicologist David Catalunya in front of an audience of friars, ambassadors and journalists at St Saviour’s Monastery in the Old City of Jerusalem, The National reports. The organ, which was hidden by Crusaders in the 12th century, was discovered in a former cemetery in 1906 and sat unused for many years in a museum.

Sept. 9-11, Riyadh. Index Saudi Arabia. A trade event that connects interior designers, architects, and buyers with brands, products, and developers. Riyadh Front Exhibition and Conference Center. 

Sept.10-11, Dubai.  PPP Mena Forum. A conference that seeks to foster private and public partnerships (PPP) in industries including infrastructure, energy, healthcare, transportation and information technology. Jumeirah Emirates Towers.

Sept. 12-14, Abu Dhabi. International Real Estate & Investment Show. A three-day event spotlighting the latest investment opportunities across the Middle East, Europe and the Asia Pacific regions. ADNEC.

Sept. 13, Abu Dhabi. M2 Expert Forum. Medical conference aimed at educating doctors and clinical practitioners in genomics. Dusit Thani Hotel.

Sept. 15-17, Abu Dhabi. The Riyadh Infrastructure Projects Center. The event will host representatives from over 25 countries discussing global infrastructure innovation, investment, and sustainable development. Riyadh International Convention and Exhibition Center.

Sept. 15-17, Dubai. ISM Middle East. A conference on emerging trends and advancements shaping the sweets and snacks industry. Dubai World Trade Center. 

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers.The Agenda, Dubai Media City.

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

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

PROPERTY RISERS

Blackstone and Permira are betting big on the UAE property market with a $525 million investment in Property Finder, the Dubai-based classifieds site. The deal, which gives the private capital firms a minority stake, marks Permira’s first move into the Middle East and underscores how global buyout giants are planting deeper roots in the Gulf, Bloomberg reports. Property Finder, launched nearly two decades ago, has been expanding across the region while sharpening its focus on Saudi Arabia and Turkey. The investment comes as Dubai home prices surge post-pandemic, stoking both optimism and fears of overheating. The website competes against two other classified platforms, Dubizzle and Bayut, the latter of which is backed by Jared Kushner’s Affinity Partners and has been considering an IPO.

NEOBANK ARRIVES

London-based digital bank Revolut has secured regulatory approvals from the UAE’s Central Bank to launch its services in the emirates. The decade-old fintech startup, which has been rapidly expanding into new markets, launched a secondary share sale earlier this month which saw its valuation rocket up to $75 billion, placing it among Europe’s most valuable financial firms. Revolut said in a statement on Tuesday that it had received in-principle approval for its relevant licences and would be ramping up hiring across the UAE. Historically it has been complicated for so-called neobanks to enter the UAE market, however the launch of homegrown Wio Bank, backed by ADQ, e& and FAB, three years ago has popularized app-based banking.

Mubadala: The Abu Dhabi sovereign wealth fund anticipates demand for all shares on offer in the sale of part of its stake in telecom operator Du, which could raise as much as $920 million, Bloomberg reports.

Mubadala: The fund is partnering with early-stage venture capital firm Antler and Hub71 to launch the National Founders Programme to commercialize university research via a six-week venture-building initiative.

Public Investment Fund: PIF-owned Saudi Arabia Railways invited bids for a new 35-kilometer rail line project in Riyadh.

Abu Dhabi Investment Authority: ADIA will invest in credit-focused asset manager Oak Hill Advisors’ European special situations strategy.

🚢 Port Contract: Dubai’s DP World secured a contract to operate a new container terminal at the Port of Montreal in Canada, expanding its presence in North America’s shipping and logistics sector.

📈 Stake Surge: JVP, a Jerusalem-based venture capital firm, raised $290 million from U.S. investor TPG, mainly to buy out early backers of insurtech startup Earnix, Calcalist reports.

⛽ Gas Deal: The Egyptian Natural Gas Holding Company signed a preliminary agreement with BP to drill five new gas wells in the Mediterranean Sea, Reuters reports. 

🌴 Market Date: Saudi Arabian luxury date producer Bateel International, which is majority owned by the royal family-linked Al Sudairi clan, is working with Morgan Stanley on a potential IPO, Bloomberg reports.

🌀 Cable Talks: Cyprus has approached the UAE for possible participation in a subsea cable project designed to improve Europe’s digital connectivity, the Cypriot president said.

🤝 Shaking Hands: Qatar and India are expected to finalize terms of reference for a free trade agreement within the first week of October.

Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai, announced the appointment of Lana Nusseibeh and Saeed Al Hajeri as Ministers of State in the UAE government on Tuesday.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, delivered an address at the BRICS Leaders Virtual Summit, convened on Monday by Brazilian President Luiz Inácio Lula da Silva. Among other participants were Russian President Vladimir Putin and Chinese President Xi Jinping.

Sheikh Tahnoon bin Zayed, UAE National Security Advisor, Deputy Ruler of Abu Dhabi and Chairman of MGX, posted on his X account that the launch of the “K2 Think” AI model will mark a significant step in advancing artificial intelligence from the UAE to the world.

Sheikh Saud bin Saqr Al Qasimi, Ruler of the northern emirate of Ras Al Khaimah, met with Duma Gideon Boko, President of Botswana, on Monday at his palace in Saqr bin Mohammed City.

Sheikh Ahmed bin Saeed, Chairman and CEO of Emirates airline, shared an image of a horsehead sculpture crafted from upcycled aircraft parts by the company’s engineering team.

Ramez Halazun, HSBC’s top IPO banker in Saudi Arabia, is leaving the bank to join investment advisory firm PJT Partners, Bloomberg reports.

Abdulla bin Mohammed bin Butti Al Hamed, Chairman of the National Media Office and Chairman of the UAE Media Council, met with a number of ministers and senior officials during his visit to Rwanda.

Dr. Abdulla Humaid Al Jarwan, Chairman of the Abu Dhabi Department of Energy, led a delegation to the U.S. to discuss further cooperation and strategic partnerships within the energy and water sectors. 

Doriane Groene has been appointed Senior Director, Microsoft Alliance, for Europe, Middle East and Africa by software company Veeam. She previously led Intel’s EMEA Microsoft Global Account Team.

✏️ Design Forward: Tanween, the flagship design event at Saudi Arabia’s King Abdulaziz Center for World Culture, known as Ithra, will return for its eighth edition under the theme “Design the Unspoken” from Nov. 17-22. Submissions are now open for designers worldwide to take part in the Tanween Challenge, which this year invites participants to shift their attention to designing for the underserved 90% of consumers, rather than the top 10%.

Sept. 8-10, Dubai. WHX Tech 2025. Participants explore the latest trends in health care. Dubai World Trade Center.  

Sept. 9-11, Riyadh. Index Saudi Arabia. A trade event that connects interior designers, architects, and buyers with brands, products, and developers. Riyadh Front Exhibition and Conference Center. 

Sept.10-11, Dubai.  PPP Mena Forum. A conference that seeks to foster private and public partnerships (PPP) in industries including infrastructure, energy, healthcare, transportation and information technology. Jumeirah Emirates Towers.

Sept. 12-14, Abu Dhabi. International Real Estate & Investment Show. A three-day event spotlighting the latest investment opportunities across the Middle East, Europe and the Asia Pacific regions. ADNEC.

Sept. 13, Abu Dhabi. M2 Expert Forum. Medical conference aimed at educating doctors and clinical practitioners in genomics. Dusit Thani Hotel.

Sept. 15-17, Abu Dhabi. The Riyadh Infrastructure Projects Center. The event will host representatives from over 25 countries discussing global infrastructure innovation, investment, and sustainable development. Riyadh International Convention and Exhibition Center.

Sept. 15-17, Dubai. ISM Middle East. A conference on emerging trends and advancements shaping the sweets and snacks industry. Dubai World Trade Center. 

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers.The Agenda, Dubai Media City.

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

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

TELECOM SHUFFLE

Mubadala Investment Co. is selling a 7.55% stake in Emirates Integrated Telecommunications, better known as Du, in a move expected to raise about $920 million. Goldman Sachs, Abu Dhabi Commercial Bank, Emirates NBD and First Abu Dhabi Bank are leading the transaction, according to the Abu Dhabi sovereign wealth fund. The stake sale comes as Mubadala looks to inject cash into new projects while opening its companies to a wider investor base. Mubadala owns roughly 10% of Du through its Mamoura Diversified Global Holding unit, while Emirates Investment Authority, the UAE’s federal wealth fund, remains the telecom’s largest shareholder with a stake of just over 50%.

GAMING GLAMOUR

Wynn Resorts and its partners are already eyeing a second casino-resort in the emirate of Ras Al Khaimah, even as their flagship project – the first gaming venture in the UAE – races toward a 2027 debut. An agreement filed with the SEC regulatory commission in the U.S. reveals a master plan that goes far beyond the first casino on Al Marjan Island, mapping out a second resort and luxury residences possibly branded with Tokyo-based Janu Hotels, Arabian Gulf Business Insight reports.  Wynn says it won’t decide on future projects or a potential IPO until its first resort opens its doors. Among other casino operators that have expressed interest in the UAE are MGM Resorts, Atlantis and Caesar’s Palace.

Abu Dhabi Investment Authority: The Abu Dhabi sovereign wealth fund may join a group of investors who will help Vantage Data Centers acquire Yondr Group’s assets in Malaysia in a transaction valued at about $1.6 billion, Bloomberg reports.

Mubadala: Abu Dhabi Commercial Bank, which is majority owned by the UAE sovereign wealth fund, will seek $1.7 billion via a rights issue.

Public Investment Fund: Saudi Arabia’s sovereign wealth fund plans to sell 10-year dollar bonds, as it seeks to plug funding gaps from falling oil prices.

Public Investment Fund: The PIF and Australia’s Macquarie Asset Management are exploring potential investments in the kingdom, including in digital infrastructure and energy, Semafor reports. Macquarie is considering opening an office in Riyadh.

ADQ: Etihad Airways is considering buying parts, such as seats, in bulk and storing them until needed as a solution to navigate supply delays, CEO Antonoaldo Neves told Bloomberg in an interview. 

Mumtalakat: Aluminium Bahrain, known as Alba, which is majority-owned by Bahrain’s sovereign wealth fund, signed a draft agreement with Egypt’s Metallurgical Industries to explore building an aluminum refinery. 

The Arab Investment Co.: TAIC, the pan-Arab sovereign fund with a $1.2 billion portfolio, has hired Saudi Arabia’s Jadwa Investment to help it reallocate about $1 billion as part of its strategic overhaul to pursue higher returns.

Oman Investment Authority: Future Fund of Oman, an affiliate of OIA, launched a lending portfolio for small and medium enterprises.

🏭 Energy Finance: ADNOC, led by JP Morgan, plans to line up more than $10 billion in debt financing from local and international banks as it moves forward with the acquisition of Australian fossil fuel producer Santos, Bloomberg reports.

📊 Index Member: Adnoc Gas will be added to the FTSE Emerging Index later this month, boosting liquidity through greater exposure to international investors.

🏝️ Shining Star: Egyptian-listed Emaar Misr for Development, will build a new tourism project on the Red Sea coast worth $18.6 billion in collaboration with companies from both Saudi Arabia and the UAE. 

💰 Borrowing Bonanza: Kuwait has borrowed a total of $4 billion from the local market to fund projects since it began issuing bonds two months ago, the Arabic language daily Al-Anba reports.

📈 Saudi Surge: Foreign investors are increasing exposure to Saudi Arabia’s stock market, citing low valuations and steady oil price expectations as reasons for renewed interest in the kingdom’s battered equities, Bloomberg reports.

🏡 Dirham Draw: Dubai real estate brokers are targeting British buyers, betting a weaker dirham will attract demand for homes from investors seeking value amid currency shifts, Reuters reports.

💎 Dubai Bling: A select group of Indian entrepreneurs have transformed the retail gold market in Dubai, amassing $9.5 billion in wealth, but their glitzy showrooms are at risk from recent regulatory changes in India, Bloomberg reports.

🤝 Legal Alliance: Negotiations are underway between Tel Aviv-based law firms Meitar and Arnon, Tadmor-Levy, which, if successful, would create Israel’s largest firm.

UAE President Sheikh Mohamed bin Zayed has pledged support for the upcoming launch of K2 Think, an open-source AI reasoning model developed by Abu Dhabi’s Mohamed bin Zayed University of Artificial Intelligence in partnership with G42. Sheikh Tahnoon bin Zayed, UAE National Security Advisor and Chairman of the Artificial Intelligence and Advanced Technology Council, praised the collaboration as a significant achievement in the UAE’s AI vision. 

Jordan’s King Abdullah II met with Sheikh Mohamed in Abu Dhabi on Sunday. The UAE President also met with Prince Rahim Al-Hussaini Aga Khan, the global spiritual leader of the Ismaili community known as Aga Khan V, on Sunday.

Sheikh Khaled bin Mohamed, Abu Dhabi Crown Prince and Chairman of the Abu Dhabi Executive Council, chaired a meeting of the Executive Committee of the ADNOC Board of Directors on Monday to review the group’s financial performance. 

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, met Dr. Ghassan Salamé, Lebanon’s Minister of Culture, on Saturday in Abu Dhabi. Sheikh Abdullah met Joe Saddi, Lebanon’s Minister of Energy and Water, on Sunday. Sheikh Abdullah also held a phone call with Yvette Cooper to congratulate her on her appointment as the U.K.’s Secretary of State for Foreign, Commonwealth and Development Affairs.

Prince Badr bin Abdullah bin Farhan Al Saud, Saudi Arabia’s Culture Minister, met with France’s First Lady Brigitte Macron and French Minister of Culture Rachida Dati for a performance of French and Saudi music at the Palace of Versailles on Friday.

Zachary Cefaratti, founder of Dubai-based boutique advisory firm Dalma Capital, has emerged as a pivotal figure linking Gulf investors with Silicon Valley, leveraging regional demand for artificial intelligence and data centers, the Financial Times reports.

Mohamed Abdulnabi Sanad was appointed by the National Bank of Bahrain as Head of Business Banking within its Retail Banking Division.

Suresh Ferdinandusz has been appointed Director of Operations for Anantara World Islands Dubai Resort

🎻 New Season: Oman’s Royal Opera House Muscat has released details of its new season, running from October to May, with a program of more than 50 events, including the world premiere of grand opera production “Sinbad: The Omani Sailor.” Other highlights include operas “Tosca” and “Don Pasquale,” as well as family shows including a screening of “The Lion King,” with a live orchestra, The National reports. Saudi singer Rabeh Saqer and Lebanon’s Diana Haddad lead the concert lineup.

Sept. 8-9, Abu Dhabi. Hili Forum 2025. Global thought leaders come together to discuss ongoing economic and geopolitical challenges. St. Regis Saadiyat.

Sept. 8-10, Dubai. WHX Tech 2025. Participants explore the latest trends in health care. Dubai World Trade Center.  

Sept. 9, Dubai. Envision. An international conference on artificial intelligence organized by Emirati telecommunications firm du. Atlantis The Royal. 

Sept. 9-11, Riyadh. Index Saudi Arabia. A trade event that connects interior designers, architects, and buyers with brands, products, and developers. Riyadh Front Exhibition and Conference Center. 

Sept.10-11, Dubai.  PPP Mena Forum. A conference that seeks to foster private and public partnerships (PPP) in industries including infrastructure, energy, healthcare, transportation and information technology. Jumeirah Emirates Towers.

Sept. 12-14, Abu Dhabi. International Real Estate & Investment Show. A three-day event spotlighting the latest investment opportunities across the Middle East, Europe and the Asia Pacific regions. ADNEC.

Sept. 15-17, Abu Dhabi. The Riyadh Infrastructure Projects Center. The event will host representatives from over 25 countries discussing global infrastructure innovation, investment, and sustainable development. Riyadh International Convention and Exhibition Center.

Sept. 15-17, Dubai. ISM Middle East. A conference on emerging trends and advancements shaping the sweets and snacks industry. Dubai World Trade Center. 

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers.The Agenda, Dubai Media City.

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

UNITED KINGDOMS

Saudi Arabia and the U.K. have inked £360 million ($484 million) in joint investment deals at the Great Futures Summit in London, the flagship event of a year-long campaign aimed at boosting economic ties. The new deals build on £3.7 billion ($4.97 billion) worth of agreements and announcements between the two countries since 2024, Bloomberg reports. Among the highlights, London-based venture capital firm Lexham Partners and the investment banking arm of Riyadh-based Arab National Bank will launch a $200 million fund to back growth-stage companies in the Middle East. London-based Salica Investments also plans to start a second $75 million Salica Oryx Fund to deploy capital in the kingdom.

FRAGILE RECOVERY

Syria’s war-battered economy is now suffering its worst drought in decades, slashing wheat harvests and drying up irrigation wells. Farmers report yields at a fraction of prewar levels, forcing the country to import up to 70% of its wheat while half the population faces food insecurity. Shrinking rivers from neighboring Lebanon have worsened the water shortage, devastating crops and fisheries. Experts warn that without urgent adaptation, Syria risks losing much of its farmland. “The land is missing the water,” small-farmer Mansour Mahmoud Al-Khatib told the Associated Press.

G42: Khazna Data Centers, a G42 company and the UAE’s largest data center operator, received a $2.6 billion credit facility from Abu Dhabi Commercial Bank and First Abu Dhabi Bank to help expand its operations. 

Public Investment Fund: Salic International Investment Co., the PIF’s food and agriculture investment arm, sold an 11% stake in Brazilian chicken producer BRF to help remove a regulatory hurdle for the company’s merger with Beef producer Marfrig Global Foods, Bloomberg reports.

Public Investment Fund: The PIF-backed Jada Fund of Funds has published a paper on how Saudi Arabia’s PE and VC ecosystem are laying the foundations for sustainable growth in line with Vision 2030 through a value creation model. 

ADNOC: EU antitrust regulators are expected to pause their investigation into ADNOC’s $17 billion bid for German chemicals company Covestro to give the EU more time to gather information on the deal, Reuters reports. 

Masdar: Masdar CEO Mohamed Jamel al-Ramahi met with Montenegro’s Minister of Energy and Mining Admir Šahmanović in Abu Dhabi during his official visit to the UAE this week. The pair discussed opportunities for investment in Montenegro’s energy sector.

Oman Investment Authority: Denmark’s PowerCon has signed a deal with Omani R&D firm MoonRock to build power stations at Sohar Port as part of Oman’s effort to decarbonise its container terminals, according to Asyad Shipping, a subsidiary of OIA.

🤖 Robot Factory: Abu Dhabi-based alternative investment company, Infini Capital has extended a $1 billion credit facility to China’s UBTech Robotics to fuel its global expansion, including a new research center and “super-factory” in the Middle East.

📦 Shiny Fleet: Emirates NBD has signed a $350 million financing deal with Emirates Airline for the purchase of two long-range freighter aircrafts from Boeing.

🔋 Electric Experience: Aldar Properties will develop a 5,000 sqm build-to-suit Tesla facility on Abu Dhabi’s Yas Island, featuring 170 dedicated parking spaces with 20 V4 Tesla Supercharger stalls.

💵 BuyBack Time: Kuwait Projects Company, a private investment company, will repurchase $1 billion of its 2019 bonds maturing in 2026 and 2027 to optimize its debt structure.

🤝 Deep Pockets: Kuwait’s Capital Markets Authority has licensed BlackRock Advisors (UK) as an investment adviser, further growing BlackRock’s presence in the Gulf, where it has offices in Abu Dhabi, Riyadh, and Doha, Reuters reports. 

✈️ Looking East: Qatar Airways will deepen its presence in China by adding a second daily Doha–Shanghai flight this winter and signing a cargo partnership with Alibaba’s Cainiao, Bloomberg reports.

🏝️ Major Developments: Oman Tourism Development Company announced new strategic partnerships and showcased major tourism projects to strengthen infrastructure, expand hospitality and enhance visitor experiences.

💸 Help Home: Egypt will issue new bonds targeted at its citizens living abroad, especially in the Gulf, to diversify debt sources and help plug its budget deficit, Finance Minister Ahmed Kouchouk told Asharq.

🚢 Grocery Delivery: DP World will launch its “Atlas” Morocco–U.K. and North Europe shipping service in November 2025, cutting fruit and vegetable export times to the U.K. by up to two days.

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, has approved 2,971 new homes for Emiratis since the start of the year, an investment of more than AED2 billion  ($544 million), WAM reports.

Qatar’s Emir Sheikh Tamim received a phone call from Bahrain’s King Hamad bin Isa Al-Khalifa on Wednesday. Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, visited the 22nd Abu Dhabi International Hunting and Equestrian Exhibition taking place at ADNEC until September 7.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, appointed Razan Khalifa Al Mubarak as Special Envoy of the Minister of Foreign Affairs for Nature on Thursday.

Sheikh Mohammed bin Saud bin Saqr, Crown Prince of the northern UAE emirate of Ras Al Khaimah, met Stephen Anderson, Director of the World Food Programme Office in the UAE and the Programme’s Representative to the Gulf Cooperation Council states, at Nad Al Habayeb Majlis in RAK.

Sheikh Dr Sultan bin Mohammed Al Qasimi, Ruler of the UAE emirate of Sharjah, issued a decree to form the Sharjah Council for the Rights of Persons with Disabilities, which he will chair. 

Burak Özdemir, the celebrity Turkish chef also known as CZN Burak, announced that he has cut ties to his businesses in Dubai without sharing further details.

Fatima Al-Banawi, the Saudi actress and director, has been named Montblanc’s brand ambassador. Al-Banawi previously appeared in Estee Lauder’s 2023 campaign “Together We Shine,” celebrating Arab women.

Reem Hazzazi has become Saudi Arabia’s first international weightlifting referee.

📚 Great Reads: This year is shaping up as an important moment for Arab authors, according to The National, which has shared a list of 11 new English-language novels, memoirs and poetry collections worthy of attention. Spanning Egypt, Palestine, Morocco, Lebanon and beyond, the books vary in style and subject from family drama to political critique.

Aug. 30-Sept. 7, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX). The premier event for hunting, falconry and equestrian enthusiasts in the Middle East. ADNEC.

Sept. 1-6, Dubai. Dubai Fashion Week. This annual exhibition brings designers, buyers and fashionistas from around the world for a crowded schedule of events. Dubai Design District.

Sept. 4, Kuwait, Qatar and Bahrain. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 5, UAE and Oman. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 2-4, Riyadh. Global Water Expo. Bringing together the full value chain of water, wastewater and environmental services. Riyadh Front Exhibition & Conference Center.

Sep. 3, Dubai. Middle East Retail Forum. Business executives, buyers, sellers and government officials mix for the annual conference. JW Marriott Hotel Marina.

 Sept. 5, New York: Bloomberg Power Players. Conference on the business of sports. Bloomberg Headquarters. 731 Lexington Ave.

Sept. 8-9, Abu Dhabi. Hili Forum 2025. Thought leaders will come together to discuss the ongoing global challenges. St Regis Saadiyat.

Sept. 8-10, Dubai. WHX Tech 2025. Participants will explore the latest trends in health care and gain practical insights on the changing sector. Dubai World Trade Center.  

Sept. 9, Dubai. Envision. An international conference on artificial intelligence organized by Emirati telecommunications firm du. Atlantis The Royal. 

Sept. 9-11, Riyadh. Index Saudi Arabia. A trade event that connects interior designers, architects, and buyers with brands, products, and developers. Riyadh Front Exhibition and Conference Center. 

Sept.10-11, Dubai.  PPP Mena Forum. A conference that seeks to foster private and public partnerships (PPP) in industries including infrastructure, energy, healthcare, transportation and information technology. Jumeirah Emirates Towers.

Sept. 12-14, Abu Dhabi. International Real Estate & Investment Show. A three-day event spotlighting the latest investment opportunities across the Middle East, Europe and the Asia Pacific regions. ADNEC.

Sept. 15-17, Abu Dhabi. The Riyadh Infrastructure Projects Center. The event will host representatives from over 25 countries discussing global infrastructure innovation, investment, and sustainable development. Riyadh International Convention and Exhibition Center.

Sept. 15-17, Dubai. ISM Middle East. A conference on emerging trends and advancements shaping the sweets and snacks industry. Dubai World Trade Center. 

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers. The Agenda, Dubai Media City.

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

F1 DEAL

Bahrain’s sovereign fund, Mumtalakat and Abu Dhabi’s CYVN Holdings became the full owners of Formula One’s McLaren Racing on Tuesday in a transaction that is reportedly valued at as much as $5 billion. The team issued a statement that confirmed the transfer of all shares that were previously held by MSP Sports Capital, funds managed by O’Connor Capital Solutions, Ares Sports, Media and Entertainment funds, and Caspian Funds. Bahrain sovereign wealth fund Mumtalakat will remain the majority shareholder with CYVN holding a non-controlling stake, Reuters reports. It comes amid an on-track resurgence for McLaren, with drivers Oscar Piastri and Lando Norris sitting in first and second place after winning 12 out of 15 races this season. 

SOCCER BID

Saudi’s Prince Al-Waleed bin Talal is reported to be in early talks to acquire a 75% stake in Al-Hilal Football Club from the Public Investment Fund, potentially reshaping the landscape of sports privatization in the kingdom. The other 25% of Al-Hilal is held by a non-profit organization largely funded by Prince Al-Waleed, Bloomberg reports. As part of Crown Prince Mohammed bin Salman’s push to commercialize the Saudi Pro League, the kingdom has poured money into star signings, including Cristiano Ronaldo’s move to Al-Nassr, and global broadcasting deals. Al-Hilal, one of Saudi Arabia’s most decorated clubs, is one of four that the PIF holds stakes in.

ADQ: Etihad Airways CEO Antonoaldo Neves said in an interview with Reuters on Tuesday that the Abu Dhabi airline, which is owned by the Abu Dhabi sovereign wealth fund, has no timeline for going public as it enjoys enough resources to “self-fund” its $20 billion growth plans for the next decade.

ADQ: AD Ports Group, majority owned by ADQ, announced a major dredging agreement between its Karachi Gateway Terminal and Van Oord, a Netherlands-based global leader in dredging and marine contracting, to expand the flow of trade through the group’s port terminals in Pakistan.

International Holding Company: RIQ, the AI-native reinsurance platform and a subsidiary of the IHC, signed an agreement with ADNOC to develop a preferred reinsurance partnership targeting an allocation of over $500 million in risk coverage within the coming decade. (WAM)

Aramco: Intella, a Saudi-based artificial intelligence start-up, secured $12.5 million from investors including Aramco’s venture capital fund. The capital will be used to widen its offerings and fund its expansion in the Middle East and North Africa region.

TAQA: A consortium led by Abu Dhabi National Energy, known as TAQA, secured funding for greenfield power plant projects in Saudi Arabia worth $4 billion. The group includes Japanese power generation company Jera Co and AlBawani Capital, a subsidiary of Riyadh-based AlBawani Holding.

Public Investment Fund: China’s Baoshan Iron and Steel said in a statement that work is progressing on the $4 billion integrated steel plate manufacturing complex in Saudi Arabia, which is being developed in a joint venture with the PIF and Saudi Aramco. The complex will have a production capacity of 2.5 million tons.

Investment Corporation of Dubai: Dubai’s Kerzner International Holdings, which is owned by Investment Corporation of Dubai, is expanding its One&Only hospitality brand internationally, with plans for a resort and $10 million serviced homes in Fiji, as well as its first U.S. locations, including in Montana and New York, Bloomberg reports.

💲 Debt Raise: Saudi Arabia is on course for a record year of issuances after it sold $5.5 billion of international Islamic bonds on Tuesday to help plug its budget deficit, Bloomberg reports. 

💰 High Demand: UAE’s biggest lender, First Abu Dhabi Bank, launched a $750 million low-carbon energy bond, with an order book exceeding $2.3 billion.

🏭 Regional Expansion: Industrial gases and engineering giant Linde has completed its acquisition of Airtec, one of the largest industrial gas companies in the Middle East. 

✈️ New Look: Saudi Arabian low-cost airline flynas secured an Islamic financing deal worth $134.4 million from Saudi Awwal Bank to support the acquisition of its new fleet of narrow-body aircraft.

🚕 Town Car: UAE mobile car rental platform WheelsOn raised $12.5 million in new funding from private investors, including partners of Xploration Capital, valuing the startup at $30 million.

💺 Royal Passengers: Amman-listed airline Royal Jordanian aims to carry four million passengers in 2025, an 8% increase from 2024, as it plans new routes to boost passenger numbers, CEO Samer Majali told state-owned Al Mamlaka TV.

⚖️ Business Disputes: The Dubai International Financial Centre Courts launched a new Mediation Service Centre and notary service that will serve as an alternative dispute resolution pathway.

🩺 Health Wealth: Saudi Arabia and the UAE made 92% of the almost 400 deals within the Gulf’s healthcare sector over the past four years, according to JLL.

⛏️ Spare Repair: Heilongjiang Tianyouwei Electronics, a Chinese automotive components manufacturer, plans to establish a wholly-owned subsidiary in Morocco with an investment of $75 million.

UAE President Sheikh Mohamed bin Zayed met with Saudi Crown Prince Mohammed bin Salman during a visit to Riyadh on Wednesday. The UAE President, accompanied by a high-level delegation including Sheikh Tahnoon bin Zayed, UAE National Security Advisor, was welcomed by the Crown Prince on arrival at King Khalid International Airport.

Saudi Crown Prince Mohammed bin Salman received a phone call from French President Emmanuel Macron on Tuesday and the pair discussed the situation in Palestine.

Sheikh Tahnoon bin Zayed, UAE National Security Advisor, in the presence of Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, met with Larry Fink, Chairman and CEO of BlackRock, and congratulated him on his appointment as Interim Co-Chair of the World Economic Forum’s Board of Trustees.

Qatar’s Emir Sheikh Tamim received a phone call from Canada’s Prime Minister Mark Carney on Tuesday.

Lt. Gen. Sheikh Saif bin Zayed, UAE Deputy Prime Minister and Minister of Interior, met with Sheikh Zayed bin Hamad, Head of the National Anti-Narcotics Authority, at the Ministry of Interior HQ in Abu Dhabi on Tuesday.

Sheikh Humaid bin Rashid, Ruler of the UAE emirate of Ajman, received on Tuesday at the Ruler’s Court Shihab Al Faheem, Ambassador of the UAE to Japan and Commissioner General of the UAE Pavilion at Expo 2025 Osaka.

Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Group CEO of ADNOC, was named CEO of the Year on Tuesday for his outstanding achievement in the chemical industry by the Independent Commodity Intelligence Services.

William Reichert has been appointed as a partner at the Dubai office of international law firm Pinsent Masons.

Dr. Nadia Rashid Al Mazrouei, Associate Professor at the College of Pharmacy at the University of Sharjah and Chair of ISPOR UAE Chapter, was elected Vice President of the International Pharmaceutical Federation Council during its annual meeting in Copenhagen, Denmark.

🐪🐪Seeing Double: The cloned offspring of Mabrokan, considered to be one of the most valuable and beautiful camels in history, made an appearance at the Abu Dhabi International Hunting and Equestrian Exhibition on Tuesday. The famed camel’s cells were used to clone 11 calves in total, with two of them put on display at the exhibition to showcase the UAE Biotech Research Center’s work preserving prized camels for future generations. 

Aug. 30-Sept. 7, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX). The premier event for hunting, falconry and equestrian enthusiasts in the Middle East. ADNEC.

Sept. 1-6, Dubai. Dubai Fashion Week. This annual exhibition brings designers, buyers and fashionistas from around the world for a crowded schedule of events. Dubai Design District.

Sept. 4, Kuwait, Qatar and Bahrain. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 5, UAE and Oman. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 2-4, Riyadh. Global Water Expo. Bringing together the full value chain of water, wastewater and environmental services. Riyadh Front Exhibition & Conference Center.

Sep. 3, Dubai. Middle East Retail Forum. Business executives, buyers, sellers and government officials mix for the annual conference. JW Marriott Hotel Marina.

 Sept. 5, New York: Bloomberg Power Players. Conference on the business of sports. Bloomberg Headquarters. 731 Lexington Ave.

Sept. 8-9, Abu Dhabi. Hili Forum 2025. Thought leaders will come together to discuss the ongoing global challenges. St Regis Saadiyat.

Sept. 8-10, Dubai. WHX Tech 2025. Participants will explore the latest trends in health care and gain practical insights on the changing sector. Dubai World Trade Center.  

Sept. 9, Dubai. Envision. An international conference on artificial intelligence organized by Emirati telecommunications firm du. Atlantis The Royal. 

Sept. 9-11, Riyadh. Index Saudi Arabia. A trade event that connects interior designers, architects, and buyers with brands, products, and developers. Riyadh Front Exhibition and Conference Center. 

Sept.10-11, Dubai.  PPP Mena Forum. A conference that seeks to foster private and public partnerships (PPP) in industries including infrastructure, energy, healthcare, transportation and information technology. Jumeirah Emirates Towers.

Sept. 12-14, Abu Dhabi. International Real Estate & Investment Show. A three-day event spotlighting the latest investment opportunities across the Middle East, Europe and the Asia Pacific regions. ADNEC.

Sept. 15-17, Abu Dhabi. The Riyadh Infrastructure Projects Center. The event will host representatives from over 25 countries discussing global infrastructure innovation, investment, and sustainable development. Riyadh International Convention and Exhibition Center.

Sept. 15-17, Dubai. ISM Middle East. A conference on emerging trends and advancements shaping the sweets and snacks industry. Dubai World Trade Center. 

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers. The Agenda, Dubai Media City.

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

ENERGY REVIVAL

Syria has resumed oil exports for the first time in 14 years, shipping 600,000 barrels of heavy crude from the Mediterranean port of Tartus, after western sanctions were lifted. The shipment, aboard the Nissos Christiana tanker, under a deal with B Serve Energy, affiliated with global trader BB Energy, offers a rare boost to the war-ravaged economy. Transitional President Ahmed Al-Sharaa is courting Gulf allies and foreign investors to rebuild the energy sector, Bloomberg reports. This year, Damascus struck agreements with Saudi firms to revive its energy sector and sealed an $800 million deal with Dubai’s DP World to redevelop the port of Tartus and expand logistics hubs across Syria. 

HOME OWNERSHIP

Saudi banks could offload as much as $48 billion in mortgages to the Saudi Real Estate Refinance Co. by 2030, as the kingdom launches its first residential mortgage-backed securities. The SRC, which is wholly owned by the Public Investment Fund, recently executed its first RMBS transaction following regulatory approvals, Bloomberg reports. The move is a step toward boosting liquidity and bank lending in the kingdom, which is seen as central to Saudi Arabia’s economic transformation agenda. The SRC has also forged partnerships with global asset managers and domestic institutions to deepen the real estate financing market. It comes as home ownership in the kingdom has risen to 65.4% of families, surpassing this year’s target, boosted by initiatives to support access to mortgages.

Mubadala Capital: Miami-based U.S. wealth advisory firm Corient, which is backed by the Abu Dhabi sovereign wealth fund, said on Tuesday it will acquire European wealth advisory firms Stonehage Fleming and Stanhope Capital Group, bringing more than $214 billion in client assets under its umbrella, Reuters reports. The deals will create one of the world’s biggest ultra-high-net-worth wealth managers. Corient is a subsidiary of Toronto-based CI Financial’s U.S. wealth business which was taken private by Mubadala Capital last month.

Oman Investment Authority: Chinese and Omani firms, backed by Oman’s sovereign wealth fund, launched a $75 million joint venture to expand electric vehicle sales and charging infrastructure in the country.

International Holding Company: Egypt’s Ministry of Petroleum and Mineral Resources signed two memoranda of understanding with International Resources Holding, a subsidiary of IHC, covering cooperation in mining and financing.

⛽ Energy Renewal: Abraj Energy Services secured over $220 million in contract extensions from Occidental Oman for four drilling rigs.

💲 Capital Business: Dubai-based hospitality startup Seraya raised $1.8 million in a seed funding round led by a Saudi family office and Germany’s DLL to help its expansion in Dubai’s short-term rental market.

🤝 New Market: Indian fintech start-up TransBnk raised $25 million to fund its expansion in the Middle East and Southeast Asia through Series B round led by Bessemer Venture Partners.

🛍️ Expanding Footprint: UAE conglomerate Majid Al Futtaim opened its 100th retail store in Egypt, the first Carrefour in Suez, raising its investments in Egypt to $2.5 billion.

💰 Go Ahead: Kuwait International Bank has received regulatory approval to launch an Islamic bonds programme of up to $1.5 billion.

🛢️ No Business: Both Saudi Aramco and Iraq state oil marketeer SOMO have halted oil exports to India’s Nayara Energy refinery after it was sanctioned by the European Union over Russian backing, Bloomberg reports.

⛏️ Digging Deep: A consortium by QatarEnergy, TotalEnergies, and Congo’s SNPC won the 1,000 square kilometer offshore Nzombo exploration permit near Pointe-Noire in Republic of the Congo.

₿ Digital Apartments: Developer RAK Properties formed a strategic partnership with Hubpay, an ADGM-regulated fintech company, to allow international clients to purchase properties in the UAE emirate of Ras Al Khaimah using digital assets.

🏦 Upgrade Office: Geneva-based Banque de Commerce et de Placements has upgraded its Dubai Representative Office into a fully operational branch, with Massimo Cangini appointed as Senior Executive Officer to lead the Dubai Advisory Office.

📈Close Watch: Investors are closely monitoring Marketing Home Group’s debut on Saudi Arabia’s main exchange today following a $109 million IPO as a key test for valuations amid volatile markets.

UAE President Sheikh Mohamed bin Zayed ordered the urgent dispatch of a search and rescue team from the Abu Dhabi Civil Defence Authority, the National Guard, and the Joint Operations Command to support rescue efforts after a 6.0-magnitude earthquake struck eastern Afghanistan.

Saudi Arabia’s King Salman approved awarding the second-class medal of merit to eight Saudi citizens and one resident who have donated blood 50 times.

Qatar’s Emir Sheikh Tamim announced the Qatar Award for Localization in the Private Sector to promote nationalization targets.

Noura Al Kaabi, UAE Minister of State at the Ministry of Foreign Affairs, told The National’s Editor-in-Chief Mina Al-Oraibi in an interview in Mosul that UAE President Sheikh Mohamed bin Zayed moved quickly to support UNESCO in rebuilding the 12th century Al-Nuri Mosque because he wanted “the culture of life, the culture of hope, to defeat the culture of death” spread by ISIS. 

Ray Dalio, the billionaire founder of Bridgewater Associates, told The Financial Times that the U.S. is drifting into 1930s-style autocratic politics, warning that other investors are too scared of President Donald Trump to speak up.

Yasir Al Rumayyan, Governor of the Public Investment Fund, has been announced as a featured speaker for the ninth Future Investment Initiative Conference to be held in Riyadh on Oct. 27-30. Also in the line up are Jamie Dimon, Chairman and CEO of JPMorgan Chase; Bruce Flatt, CEO of Brookfield Asset Management; Cristiano R. Amon, President and CEO of Qualcomm Incorporated; Adena Friedman, Chair & CEO of Nasdaq; and Bill Winters, Group CEO of Standard Chartered Bank.

Stephen Howard has been named as the Head of Tourism PR and Communications for the tourism sector at Saudi Arabia’s Royal Commission for AlUla.

Louise Shelford Jenkins has been named as Group General Counsel at Emirates Global Aluminium. Jenkins will be succeeding Katherine Hahm, who stepped down from her role to move back to the United Kingdom. 

Clint Dempsey has been named as Partner in the Global Loans practice of the International law firm Ashurst. Dempsey will be based in Dubai.

Ali Khalpey, Managing Director and Head of Equity Capital Markets at EFG Hermes, will be leaving the firm after nine years to join a U.S. investment bank in the region, Bloomberg reports. 

Mohan Dass Saini, Founder and Managing Director of Dubai-based Sikanta Developments, told Zawya that the developer plans to launch two additional residential projects by mid-2026, with a combined investment of $68 million.

💡 Making Light: Riyadh will be transformed by a spectacular light art festival inspired by the Saudi capital’s rapid transformation. Noor Riyadh, under the umbrella of the Riyadh Art initiative, will run from Nov. 20 to Dec. 6., showcasing installations from local and international artists under the theme “In the Blink of an Eye.”

Aug. 30-Sept. 7, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX). The premier event for hunting, falconry and equestrian enthusiasts in the Middle East. ADNEC.

Sept. 1-3, Cairo. Pharmaconex. Brings together industry leaders to showcase innovations in pharmaceutical manufacturing. Egypt International Exhibition Center. 

Sept. 1-6, Dubai. Dubai Fashion Week. This annual exhibition brings designers, buyers and fashionistas from around the world for a crowded schedule of events. Dubai Design District.

Sept. 4, Kuwait, Qatar and Bahrain. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 5, UAE and Oman. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 2-4, Riyadh. Global Water Expo. Bringing together the full value chain of water, wastewater and environmental services. Riyadh Front Exhibition & Conference Center.

Sep. 3, Dubai. Middle East Retail Forum. Business executives, buyers, sellers and government officials mix for the annual conference. JW Marriott Hotel Marina.

 Sept. 5, New York: Bloomberg Power Players. Conference on the business of sports. Bloomberg Headquarters. 731 Lexington Ave.

Sept. 8-9, Abu Dhabi. Hili Forum 2025. Thought leaders will come together to discuss the ongoing global challenges. St Regis Saadiyat.

Sept. 8-10, Dubai. WHX Tech 2025. Participants will explore the latest trends in health care and gain practical insights on the changing sector. Dubai World Trade Center.  

Sept. 9, Dubai. Envision. An international conference on artificial intelligence organized by Emirati telecommunications firm du. Atlantis The Royal. 

Sept. 9-11, Riyadh. Index Saudi Arabia. A trade event that connects interior designers, architects, and buyers with brands, products, and developers. Riyadh Front Exhibition and Conference Center. 

Sept.10-11, Dubai.  PPP Mena Forum. A conference that seeks to foster private and public partnerships (PPP) in industries including infrastructure, energy, healthcare, transportation and information technology. Jumeirah Emirates Towers.

Sept. 12-14, Abu Dhabi. International Real Estate & Investment Show. A three-day event spotlighting the latest investment opportunities across the Middle East, Europe and the Asia Pacific regions. ADNEC.

Sept. 15-17, Abu Dhabi. The Riyadh Infrastructure Projects Center. The event will host representatives from over 25 countries discussing global infrastructure innovation, investment, and sustainable development. Riyadh International Convention and Exhibition Center.

Sept. 15-17, Dubai. ISM Middle East. A conference on emerging trends and advancements shaping the sweets and snacks industry. Dubai World Trade Center. 

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers. The Agenda, Dubai Media City.

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

TRADE BUDDIES

The UAE, Singapore and New Zealand are leading the launch of a new trade coalition among World Trade Organization members as a counterweight to the Trump administration’s so-called “napkin deals” that have unsettled global trade. Expected to draw in about 10 countries, including Morocco, Rwanda, Malaysia, and Norway, the Future of Investment and Trade Partnership initiative aims to promote rules-based trade, strengthen confidence in digital commerce, and ensure equal treatment for paper and electronic trade documents. “The idea, at the start, is to keep it as a loose coalition to bolster trade openness and international trade rules, but it may evolve into something bigger over time. It is a work in progress,” one of the officials involved in discussions told The Financial Times. The scheme will be formally announced next month, with a virtual launch in November and an in-person gathering planned for July 2026.

RESCUE BID

UAE-based engineering and design company Sidara will acquire Britain’s John Wood Group for $292 million, after a reduced takeover offer was accepted under strict conditions. As part of the deal, Sidara will assume $1.6 billion of Wood Group’s debt and inject $450 million in capital. The agreement depends on Wood Group publishing delayed annual results by October 31 and maintaining debt facilities. The deal was delayed by financial reporting issues which led to an investigation by the UK’s Financial Conduct Authority and repeated deadline extensions, Arabian Gulf Business Insights reports.

Public Investment Fund: Saudi Arabia-based delivery startup Ninja is scouting for investment banks to advise on a potential IPO, Bloomberg reports. The three-year-old company made unicorn status with a valuation of $1.5 billion earlier this year when it raised $250 million from investors including Riyad Capital, the asset management arm of PIF-backed Riyad Bank. The IPO could take place as early as next year.

Public Investment Fund: Savvy Games Group, backed by the PIF, is now turning to China and other Asian markets for its next multibillion-dollar deal, following its U.S. studio Scopely’s acquisition of the Pokémon Go developer Niantic earlier this year, The group’s Chief Executive Brian Ward told The Financial Times.

Abu Dhabi Investment Authority: Indian billionaire Mukesh Ambani’s Reliance Industries, which is backed by ADIA and Saudi Arabia’s PIF, will launch an IPO of its telecom arm Reliance Jio in early 2026, in one of India’s most anticipated stock market listings.

ADNOC: Shareholders in Borouge, majority owned by ADNOC, approved a $660 million interim dividend for the first half of 2025.

⛽ Gas Deal: Egypt’s state-owned EGAS secured $340 million in four deals to boost natural gas exploration in the Mediterranean and Nile Delta with global energy companies, including Shell, Eni, BP and QatarEnergy.

🚂 Train Path: Dubai’s DP World will invest $400 million in Pakistan’s 50 kilometer double-track Karachi Freight Corridor.

🏎️ Fast Cars: The entire collection of 20 rare McLaren supercars owned by the late French-Saudi Arabian billionaire Mansour Ojjeh, who was co-owner of the Formula One team, has been acquired by a single buyer, Reuters reports.

☀️ Changing Life: Morocco launched a floating solar farm near Tangier to reduce water evaporation and generate green energy for the Tanger Med port, with potential for wider adoption.

🔌 Expanding Power: UAE-based Global South Utilities, part of Abu Dhabi’s Resources Investment, launched the Shabwah Solar Plant and expanded the Aden Solar Plant in Yemen, with the goal of supplying clean power to over one million homes by 2026.

🤖 Boom Bust: The New York Times examines the collapse of Builder.ai, the $1.5 billion artificial intelligence company backed by the Qatar Investment Authority, which had offices in London and Dubai.

📈 Transfer Shop: Egypt’s Orascom Construction will migrate its primary listing from Nasdaq Dubai to Abu Dhabi Securities Exchange on September 11, while maintaining its secondary listing on the Egyptian Exchange.   

✈️ High Success: Air Arabia’s steady growth and quieter approach compared to other low-cost carriers, is getting noticed, as it prepares to launch a 45-aircraft operation in Dammam, Saudi Arabia.

Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai, announced the appointment of Ahmed Al Sayegh as the UAE’s Minister of Health, in a cabinet reshuffle. Outgoing Minister of Health AbdulRahman Al Owais will continue to serve in the UAE Government as Minister of State for Federal National Council Affairs.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Minister of Defense and Deputy Prime Minister visited the Abu Dhabi International Hunting & Equestrian Exhibition at the Abu Dhabi National Exhibition Centre on Saturday. Sheikh Rashid bin Saud, Crown Prince of Umm Al Qaiwain, visited ADIHEX on Sunday.

Emir of Qatar Sheikh Tamim met with Admiral Charles Bradford Cooper, the new Commander of U.S. Central Command (CENTCOM), and his accompanying delegation at the Amiri Diwan in Doha on Sunday.

Douglas Smith, CEO of DP World Canada, told Bloomberg that the logistics giant is negotiating for a contract to operate a new container terminal that will increase the Montreal Port Authority’s capacity by more than 50%.

Jasem Albudaiwi, Secretary-General of the Gulf Cooperation Council, met with the GCC negotiating team for free trade agreements via video conference and urged them to exert more intensive efforts to achieve the common interests and desired benefits for the peoples of the council countries.

Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at the UAE Ministry of Energy and Infrastructure, visited Hong Kong and Korea, where he met with high-level officials and toured sustainability-driven facilities.

👠 New Season: Dubai Fashion Week kicks off today, showcasing a blend of ready-to-wear and couture spring/summer 2026 collections at the Dubai Design District ahead of global shows in New York, London, Milan and Paris. The major platform for regional designers is introducing more international labels and includes a dedicated “Italian Day” on Wednesday, in partnership with the Italian Trade Agency.

Aug. 30-Sept. 7, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX). The premier event for hunting, falconry and equestrian enthusiasts in the Middle East. ADNEC.

Sept. 1-3, Cairo. Pharmaconex. Brings together industry leaders to showcase innovations in pharmaceutical manufacturing. Egypt International Exhibition Center. 

Sept. 1-6, Dubai. Dubai Fashion Week. This annual exhibition brings designers, buyers and fashionistas from around the world for a crowded schedule of events. Dubai Design District.

Sept. 4, Kuwait, Qatar and Bahrain. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 5, UAE and Oman. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 2-4, Riyadh. Global Water Expo. Bringing together the full value chain of water, wastewater and environmental services. Riyadh Front Exhibition & Conference Center.

Sep. 3, Dubai. Middle East Retail Forum. Business executives, buyers, sellers and government officials mix for the annual conference. JW Marriott Hotel Marina.

 Sept. 5, New York: Bloomberg Power Players. Conference on the business of sports. Bloomberg Headquarters. 731 Lexington Ave.

Sept. 8-10, Dubai. WHX Tech 2025. Participants will explore the latest trends in health care and gain practical insights on the changing sector. Dubai World Trade Center.  

Sept. 9, Dubai. Envision. An international conference on artificial intelligence organized by Emirati telecommunications firm du. Atlantis The Royal. 

Sept. 9-11, Riyadh. Index Saudi Arabia. A trade event that connects interior designers, architects, and buyers with brands, products, and developers. Riyadh Front Exhibition and Conference Center. 

Sept.10-11, Dubai.  PPP Mena Forum. A conference that seeks to foster private and public partnerships (PPP) in industries including infrastructure, energy, healthcare, transportation and information technology. Jumeirah Emirates Towers.

Sept. 12-14, Abu Dhabi. International Real Estate & Investment Show. A three-day event spotlighting the latest investment opportunities across the Middle East, Europe and the Asia Pacific regions. ADNEC.

Sept. 15-17, Abu Dhabi. The Riyadh Infrastructure Projects Center. The event will host representatives from over 25 countries discussing global infrastructure innovation, investment, and sustainable development. Riyadh International Convention and Exhibition Center.

Sept. 15-17, Dubai. ISM Middle East. A conference on emerging trends and advancements shaping the sweets and snacks industry. Dubai World Trade Center. 

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers. The Agenda, Dubai Media City.

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