OVERLAND DETOUR

Having found that roads are more dependable than Middle East waterways, cargo haulers need more trucks. As the Iran war disrupts shipping through the Strait of Hormuz, Aramex’s solution is to send goods from Europe to Dubai through Turkey, Syria and Jordan. The company has completed more than 100 journeys – a two-week voyage – carrying raw materials, construction products and spare parts, Arabian Gulf Business Insight reports. Aramex has all 800 of its vehicles in operation and is leasing additional trucks to meet demand.

FESTIVAL RETURN

Dubai is planning to revive its glitzy International Film Festival after a 10-year hiatus as it ramps up efforts to develop the local film industry. The original festival ran annually from 2004 to 2017, hosting almost 2,000 screenings, including 500 films from the Arab world. The event saw Dubai royalty and regional filmmakers rubbing shoulders with Hollywood stars, including Cate Blanchett, George Clooney, Patrick Stewart and Omar Sharif. In its heyday, the 2011 edition opened with the world premiere of “Mission: Impossible – Ghost Protocol,” in which Tom Cruise rappelled down the side of the Burj Khalifa. Making the announcement at the Arab Media Summit on Thursday, Mona Al Marri, Director-General of the Government of Dubai Media Office, hinted at a refreshed format for the festival. “Today we bring back the festival, but we don’t bring the past,” she said. “The region today is different and filmmaking is different.”

Mubadala Capital: AI infrastructure provider Crusoe has raised the initial tranche of a $3.9 billion Series F round at a $30.9 billion valuation, co-led by Atreides Management, Mubadala Capital and Valor Equity Partners.

Saudi Aramco: The world’s biggest oil exporter is seeking diesel and gasoline cargoes in the Mediterranean after repeated attacks disrupted the kingdom’s energy infrastructure, including facilities in Yanbu and Jazan and the East-West pipeline, Bloomberg reports.

Public Investment Fund: Silvio Napoli, CEO of PIF-backed electric vehicle maker Lucid, told Bloomberg Television that the company’s work with restructuring advisors AlixPartners is complete, prompting a 10% jump in its share price in New York on Thursday.

Public Investment Fund: The U.S. Federal Communications Commission has agreed to allow Gulf sovereign funds to exceed the 25% foreign ownership cap in Paramount Skydance’s $110 billion takeover of Warner Bros. Discovery. The PIF, Qatar Investment Authority, Abu Dhabi’s L’Imad and other investors will indirectly own almost 49.5% of the new entity, but will not have voting rights.

XRG: The investment arm of the UAE’s ADNOC oil company is considering buying as much as 50% of floating LNG operator Energos Infrastructure, which Apollo Global Management could value at more than $3 billion, Reuters reports.

💵 Bank Acquisition: Qatar’s Estithmar Holding, an investment company, has completed its acquisition of a 48.68% stake in Syria’s Shahba Bank via its wholly owned subsidiary Masaref Holding.

💰 SME Funding: Saudi Arabia’s Monsha’at and STC Bank have agreed to provide up to $1.3 billion in Shariah-compliant financing to micro, small and medium-sized enterprises.

𖥂 Drone Zone: Serbia opened a factory to assemble advanced Israeli-designed drones for its military and foreign customers, with plans for at least three more plants.

🔩 Stealth Shift: The U.S. State Department approved a possible $24.3 billion sale of 48 F-35 fighter jets to Saudi Arabia, a policy shift that could test Washington’s commitment to preserving Israel’s military edge.

🏟️ Stadium Metal: Saudi aluminum demand could climb as much as 80% to 1.8 million tons annually by 2030 as the kingdom builds 15 stadiums and related infrastructure for the 2034 World Cup, Reuters reports.

🦁 Lion’s Share: Riyadh is set to get its own version of the Cannes Lions festival, the advertising industry’s global gathering, to be held at the King Abdullah Financial District next December.

🤝 Financial Agreements: Syria has signed its first syndicated Islamic finance agreement, bringing together Al Baraka Bank Syria, QNB Syria and the Commercial Bank of Syria to fund two development projects in Damascus.

🪙 Crypto Deals: South Korean blockchain and venture-capital firm Hashed has signed an agreement with Abu Dhabi Investment Office to help Korean companies and investors expand into Abu Dhabi and other regional markets.

Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi, UAE National Security Adviser and Chairman of IHC, is named among The Information’s 50 most influential people in tech.

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, visited a research project tracing the evolution of Al Khuzam, a traditional weaving practice, in Dubai today.

Sheikh Saoud Salem Abdulaziz Al-Sabah, Managing Director of the Kuwait Investment Authority, held talks with Canadian Prime Minister Mark Carney on expanding economic and strategic investment cooperation between Kuwait and Canada at an investment forum in Toronto.

Sheikh Jarrah Jaber Al-Ahmad Al-Sabah, Kuwaiti Minister of Foreign Affairs, and his Canadian counterpart Anita Anand signed a preliminary agreement to explore further cooperation in the defense and security sectors.

Duncan O’Rourke, Accor’s CEO for the Middle East, Africa and Asia Pacific’s economy, midscale and premium brands, told Arabian Gulf Business Insight that it is close to signing a deal to join the revived Dubai Pearl project, more than two decades after the long-delayed development was first announced.

Phillipa Harrison, CEO of Ras Al Khaimah Tourism Development Authority and a former managing director of Tourism Australia, told The National on the sidelines of Arabian Travel Market that the $5 billion-plus Wynn Al Marjan Island casino resort opening in 2027 was “part of a wider story” and that the emirate was a destination with considerable room to grow.

Marco Rubio, U.S. Secretary of State, is put under the microscope in a Bloomberg profile examining his motivations as he executes President Donald Trump’s wishes around the world.

Selin Suzer was appointed Chief Marketing Officer at food delivery app talabat, joining from parent company Delivery Hero.

🐆 Spot On: A breeding pair of critically endangered Arabian leopards are due to be sent from Saudi Arabia to a new home in the U.S. The leopards are part of a conservation and research partnership between the Royal Commission for AlUla and the Smithsonian’s National Zoo and Conservation Biology Institute, and will be housed in a new habitat at the zoo in Washington, The National reports. Fewer than 120 Arabian leopards remain in the wild.

📷 Photo of the Day

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

Sept. 20, New York. Qatar Economic Forum. 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.

GULF HUDDLE

U.S. President Donald Trump is expected to meet Gulf leaders in New York next week to discuss the next phase of the war with Iran. The talks, tentatively scheduled for Sept. 22 on the sidelines of the annual U.N. General Assembly meeting, will focus on U.S. proposals for a postwar strategy, Axios reports. Leaders or foreign ministers from Saudi Arabia, the UAE, Qatar, Bahrain, Kuwait and Oman are expected to attend, with other Arab and Muslim countries possibly joining. The Trump administration’s broader “day-after” plan for the Iran war is unlikely to be finalized until after the U.S. midterm elections in November.

AIRBORNE ASSETS

Abu Dhabi sovereign wealth fund L’Imad Holding is considering a bid for a stake in Atlas Air Worldwide, one of the world’s largest air cargo operators. The Purchase, N.Y.-based company owned by an Apollo Global Management-led investor group, could be valued at $10 billion or more, Bloomberg reports. A deal would expand L’Imad’s transport and logistics holdings as the UAE develops trade routes that bypass the Strait of Hormuz. Talks remain at an early stage, and L’Imad could decide not to bid, the news agency said.

Mubadala: A joint venture between sovereign wealth fund Mubadala and UAE property development giant Aldar said it acquired Abu Dhabi’s Masdar City Square for $250 million, expanding the business’s portfolio in the clean-energy district to $1.3 billion.

Abu Dhabi Investment Authority: ADIA has become an anchor investor in the $2.3 billion IPO of India’s National Stock Exchange.

Aramco: Saudi energy giant Aramco aims to restore half the capacity of its drone-damaged East-West oil pipeline within days and return it to full operation in about six weeks, after the shutdown threatened millions of barrels in daily exports, Bloomberg reports.

EDGE Group: Abu Dhabi-based EDGE and South Korea’s Hanwha signed a term sheet to strengthen strategic cooperation on the UAE’s integrated air defense requirements.

🏘️ Rental Return: Saudi proptech company Rize has secured $50 million in debt financing from investment bank and asset manager Jadwa Investment.

🏗️ Open Road: Dubai has approved a new 12-lane motorway connecting the emirate to Sharjah and Abu Dhabi in a major drive to tackle congestion.

🇲🇦 🇮🇱 Diplomatic Upgrade: Israel and Morocco agreed to upgrade diplomatic relations by opening embassies and appointing ambassadors following talks in New York involving their foreign ministers and U.S. Ambassador to the U.N. Mike Waltz.

🤝 Expanding Business: Boston Consulting Group has expanded its Riyadh office, adding space and headcount to meet growing client demand and support Saudi Arabia’s next phase of growth.

🚆 Chugging Ahead: Hafeet Rail, a joint venture between the UAE’s Etihad Rail, Oman Rail and Mubadala, will begin a trial run in the final quarter of 2027, according to Oman’s Transport Minister Saeed Al Maawali.

📈 Higher Rates: GCC central banks raised interest rates after the U.S. Fed lifted its benchmark rate to 3.75%-4%, with the UAE and Saudi Arabia each increasing rates by 25 basis points.

UAE President Sheikh Mohamed bin Zayed met with President of Senegal Bassirou Diomaye Faye, who is on a working visit to the UAE, today.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, met with Massad Boulos, White House Senior Advisor for Arab and African Affairs, on Wednesday in Abu Dhabi.

Saudi Crown Prince Mohammed bin Salman received a phone call from French President Emmanuel Macron on Wednesday.

Prince Abdulaziz bin Salman, Saudi Arabia’s Energy Minister, defended the kingdom’s plans to enrich uranium, saying at the International Atomic Energy Agency annual conference in Vienna on Wednesday that its nuclear program would be transparent, peaceful and open to international monitoring – unlike Iran’s secretive operations.

Sheikh Hamdan bin Zayed, Ruler’s Representative in Al Dhafra Region, has reviewed preparations and plans for Liwa International Festival.

Sheikha Latifa bint Mohammed, Chairwoman of the Dubai Culture and Arts Authority, told the Arab Media Summit that residents who posted positive comments about feeling safe during Iran’s missile and drone attacks on the UAE did so out of love for the country, not because they were being paid.

Cristiano Ronaldo, the Portuguese soccer star, and Gerry Cardinale, founder and Managing Partner of RedBird Capital, are part of a group seeking to buy the Saudi football club Al-Nassr from the Public Investment Fund, Portugal’s A Bola reports. 

Massad Boulos, the White House advisor, attended the U.S.-UAE Business Council “Back to Business” reception in Dubai.

Mostafa Madbouly, Egypt’s Prime Minister, reviewed plans to restructure state-owned holding companies to improve asset management and maximize economic returns.

Ghaith Al Ghaith, CEO of flydubai, said the airline has raised ticket prices to reflect a “significant but manageable” increase in jet fuel and operating costs due to the Iran war, warning fares may not fall as quickly if cost pressures ease.

Hisham Elhaddad, HOF Capital Co-Founder and Managing Partner, appeared on Bloomberg Deals to discuss the HOF Capital-led buyout of a stake in Bugatti Rimac, which was backed by Abu Dhabi-based BlueFive Capital.

Dan Clancy, CEO of gaming streaming platform Twitch, told Bloomberg he expects the frenzy around the debut of Grand Theft Auto VI on Nov. 19 to extend into January and beyond, facing little serious competition for gamer attention over the holiday season. Saudi Arabia’s Public Investment Fund has a large indirect stake via Savvy Games Group’s investment in Take-Two Interactive, the parent company of GTA publisher Rockstar Games.

❤️‍🩹 Art Revival: A group of artists seeking to revive Syria’s cultural landscape is coming together to hold the country’s first Art Week in Damascus this week. The event, founded and curated by Line Kouwatli, features mostly Syrian artists, alongside musical performances, cinema screenings and art talks, The National reports. The venue, Warda Masar, is a long-abandoned, war-scarred structure which serves as a symbol of Syria’s recovery.

📷 Photo of the Day

Sept. 13-18, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC 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. 17-19, Abu Dhabi. International Real Estate & Investment Show 2026. An event targeting investors and consumers rather than trade visitors. ADNEC Centre.

Sept. 20, New York. Qatar Economic Forum. 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. 

BROOM BROOM

McLaren Automotive is planning to invest $674 million in a new U.K. factory, as its new owner, Abu Dhabi’s L’Imad sovereign wealth fund, works to reboot the cash-strapped British supercar-maker and help launch its first SUV. The move, which will create 1,000 new jobs by 2032, is a welcome boost for U.K. Prime Minister Andy Burnham amid thousands of job cuts at Jaguar Land Rover and wider cost pressures on Europe’s carmakers. McLaren CEO Nick Collins told Bloomberg that an SUV would broaden the brand’s appeal beyond racing fans, following a similar path to luxury supercar makers like Ferrari and Lamborghini. “In the way we’re going to do it, there’s absolutely space for another one,” he said. L’Imad, which was launched late last year, took control of McLaren from Abu Dhabi’s CYVN Holdings, which had purchased it from Bahrain’s Mumtalakat sovereign fund.

DEFENSE SPLURGE

The Iran war has prompted what analysts are calling the “greatest spending spree in Gulf defense history,” with more than $5 billion in contracts announced or approved since the war began in February. But Iran’s extensive use of Shahed attack drones has reshaped the landscape for defense firms, with Gulf countries like the UAE pushing for joint production and layered systems that can counter multiple threats, Bloomberg reports. Among the beneficiaries have been firms including Anduril Industries and RTX from the U.S., Rheinmetall from Germany and Australia’s EOS. “Gulf countries don’t want to be customers anymore,” Andreas Krieg, a professor in security studies at King’s College London who’s advised Qatar’s military, told the agency. “The big push strategically is about autonomy, developing resilience – and part of resilience means you are developing your own pipeline through joint ventures.” 

ADNOC: The UAE’s national oil company bought tens of millions of discounted Iraqi oil barrels in August and September, becoming Baghdad’s biggest customer as the Emirati energy company expands its trading business amid wartime supply disruptions, Reuters reports.

ALTÉRRA: Abu Dhabi-based climate investment fund ALTÉRRA and Canada’s development finance institution FinDev Canada have signed an agreement to explore co-financing and investment opportunities in climate projects across emerging markets.

L’Imad Holding: Etihad Airways and Etihad Rail, both owned by L’Imad, have signed an agreement to explore an integrated air-rail travel network linking Abu Dhabi with destinations across the UAE to support tourism, economic diversification and sustainable transport.

L’Imad Holding: The Abu Dhabi sovereign wealth fund has increased its stake in AD Ports Group after completing a $632 million cash deal to buy shares from minority investor Al Seer Marine Supplies and Equipment Company.

International Holding Co.: Islamic digital bank Fasset will become the first entity subject to the UAE’s Virtual Assets Regulatory Authority to list DDSC, the dirham-backed stablecoin issued by IHC, First Abu Dhabi Bank and Sirius International Holding.

💰 Fund Raising: Saudi digital payments company Barq has raised $330 million in a Series A round at a $1.85 billion valuation, with participation from Noon Investments, Sohar International Bank, and M20 Fund.

🛢️ Extracting Oil: TotalEnergies plans to raise its investment in Iraq by one-third to $16 billion as the country expands its energy sector, the Iraqi prime minister’s media office said.

🔩 Aluminum Smelter: Aluminium Bahrain, known as Alba, is restoring production after wartime cuts, manufacturing now at a pace of 1.3 million tons of aluminum annually, with capacity expected to return to 1.6 million tons following its planned acquisition of France’s Aluminium Dunkerque, Reuters reports.

🏨 Tourism Rebound: The UAE is lobbying foreign governments to lift travel warnings as Dubai hotel occupancy rebounds from 36% in March to 66% in August and international overnight visitors reach a six-month high, Bloomberg reports.

☁️ Data Loss: Amazon says it has been unable to recover some information stored exclusively at AWS facilities in Bahrain and the UAE that were damaged early in the U.S.-Iran war. Meanwhile, an article in The Economist says wartime attacks have not dampened investor appetite for Gulf data centers.

🏎️ Racing Ahead: American singer-songwriter Alex Warren has been announced for the lineup for the Abu Dhabi Formula One Grand Prix concerts.

UAE President Sheikh Mohamed bin Zayed met with Syrian President Ahmed al-Sharaa in Abu Dhabi on Tuesday.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, met with Jean-Pierre Bemba Gombo, the Democratic Republic of the Congo’s Deputy Prime Minister and Minister of Transportation, Channels of Communications and Rural Development.  

Sheikha Latifa bint Mohammed, Chairperson of the Dubai Culture and Arts Authority, toured the venue of the Arab Media Summit 2026 on Tuesday. 

Sheikh Ahmed bin Mohammed, Second Deputy Ruler of Dubai and Chairman of the Dubai Media Council, said the Arab Media Summit continues to strengthen its position as a leading regional platform by convening the best minds and expertise from across the media industry.

U.S. Secretary of State Marco Rubio spoke by phone on Tuesday with Omani Foreign Minister Sayyid Badr bin Hamad al-Busaidi about the need to de-escalate conflict in the Gulf region and ensure freedom of navigation for ships.

Rachida Dati, France’s former culture minister, goes on trial in Paris today on corruption charges linked to Renault-Nissan alongside fugitive former CEO Carlos Ghosn, who escaped to Lebanon after being arrested in Japan and will be tried in absentia.

Issam Kazim, CEO of Dubai Corp. for Tourism and Commerce Marketing, told Bloomberg TV at Arabian Travel Market that Dubai has evolved from a stopover destination into a “mature” city for attracting visitors and new residents.

H.E. Noura Al Kaabi, UAE Minister of State, spoke at the Arab Media Summit in Dubai about the spread of misinformation across digital platforms, saying governments need to be actively engaged and respond rapidly.

🖼️ Hammer Time: Christie’s will hold its first Abu Dhabi fine art auction, taking place at the Abu Dhabi Edition hotel on Nov. 1. The auction, marking 20 years since its first UAE sale, will bring together more than 70 works by artists from across the Middle East and North Africa region, including Paul Guiragossian, Samia Halaby, Mohamed Melehi, Nabil Nahas and Marwan, The National reports. The sale will be a litmus test for art investor appetite ahead of the first edition of Frieze Abu Dhabi – the rebranded Abu Dhabi Art show – which is slated for Nov. 19-22.

📷 Photo of the Day

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, 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.

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

Sept. 20, New York. Qatar Economic Forum. 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. 

DAMASCUS DEALS

Syrian President Ahmed al-Sharaa pitched his country today as an investment opportunity for the Gulf countries as it emerges from years of civil war and economic disaster. Speaking in Dubai at the Arab Media Summit, al-Sharaa proposed using Syria as a regional logistics hub and farming resource, The Circuit’s Omnia Al Desoukie reports from the conference. “Syria has enormous investment opportunities, particularly for Gulf countries such as Saudi Arabia, Qatar and Kuwait, as well as investors from the UAE and elsewhere,” al-Sharaa told a packed hall at the Dubai World Trade Centre. Syria has attracted more than $30 billion in investment commitments, with projects in real estate and tourism in final negotiations, he said.

CHEAP SEATS

An alliance led by UAE low-cost airline Air Arabia has been granted approval to start flying a new budget airline from Saudi Arabia’s King Fahd International Airport in Dammam. The new carrier plans to ferry about 10 million passengers annually by 2030, serving 57 international and 24 domestic destinations. Air Arabia, which is 19% owned by the Government of Sharjah, is listed on the Dubai Financial Market. The new venture will be majority Saudi-owned, with backing from investment house Kun Investment Holding and Saudi company Nesma Group. The news comes just one week after Hungarian competitor Wizz Air announced its return to Abu Dhabi and Dubai one year after closing its UAE-based operation. The outbreak of the Iran war has seen a shifting competitive environment for airlines, with international carriers including Lufthansa, British Airways and Singapore Airlines still suspending services to Dubai and other Gulf cities.

ADNOC: XRG, the international investment arm of Abu Dhabi’s national oil company, has finalized a deal to buy a stake in the Southern Gas Corridor from Azerbaijan’s Ministry of Economy, after receiving all regulatory approvals. The corridor transports natural gas from the Azerbaijani sector of the Caspian Sea through Georgia and Turkey to Southern Europe.

DP World: The Dubai-owned ports operator is expanding its truck fleet as it prepares for lasting disruption in the Strait of Hormuz, Bloomberg reports. The company plans to increase its fleet from 700 to 1,000 trucks and add overland routes connecting Gulf ports with Europe and Asia.

L’Imad Holding: Fierce competition among Middle East airlines is preventing carriers from passing soaring fuel costs to passengers for now, Antonoaldo Neves, CEO of Abu Dhabi’s L’Imad-backed Etihad Airways told Bloomberg.

Aramco: Aramco’s investment arm Wa’ed Ventures is participating in a funding round by Saudi Arabian building materials procurement platform BRKZ, which raised $31 million.

⚖️ Legal Landing: Wall Street law firm Sullivan & Cromwell is opening its first Middle East office in Abu Dhabi, seeking to capture growing business from Gulf sovereign investors and cross-border deals, Bloomberg reports.

💵 Money Raising: Saudi fintech Tabby has raised $233 million in equity funding at a $6.5 billion valuation, led by Blue Pool Capital, as it expands beyond buy now, pay later into broader financial services in Saudi Arabia and the UAE.

🏘️ Medina Fund: Three Saudi companies have partnered to set up a private real estate fund targeting non-Saudi buyers for a $750 million project in Medina.

💰 Securing Capital: Bahrain-founded fintech firm Tarabut raised $50 million from investors including Saudi banks and financial institutions.

💾 Cairo Clay: New York-based software startup Clay, co-founded by an Egyptian entrepreneur, has raised $115 million, valuing the company at $7.1 billion.

⚛️ Uranium Find: Saudi Arabia has discovered 110 million tons of uranium-bearing raw materials in Medina, Energy Minister Prince Abdulaziz bin Salman told the International Atomic Energy Agency General Conference in Vienna on Monday.

📉 Listings Slump: Gulf IPOs have raised less than $1.1 billion this year, trailing sub-Saharan Africa and pushing banks including HSBC and EFG Hermes to hunt for fees in Egypt, Turkey and India, Bloomberg reports.

☣️ Ammonia Leak: Eleven people suffered injuries from an ammonia leak during maintenance at an industrial complex in Jordan’s southern port city of Aqaba on Monday.

🪙  Crypto Claim: The U.S. Justice Department filed a civil forfeiture claim for $61 million allegedly generated from Iranian black-market oil sales and laundered through crypto exchange Binance, Bloomberg reports.

Saudi Crown Prince Mohammed bin Salman met with Admiral Brad Cooper, head of U.S. Central Command, in Jeddah days after Washington declined Riyadh’s request for strikes against Yemen’s Houthis but offered intelligence and targeting assistance, Reuters reports.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, met with Citigroup Chair and CEO Jane Fraser on Monday. Joining them were Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development, and Saif Saeed Ghobash, Secretary General of the Abu Dhabi Executive Council.

Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi, UAE National Security Adviser and Chairman of IHC, visited Azerbaijan and met with President Ilham Aliyev on Monday. 

Sheikh Hamdan bin Zayed, Ruler’s Representative in Al Dhafra Region and Chairman of the Emirates Red Crescent Authority, has issued a decision reconstituting the ERC Board of Directors, chaired by Khalid Abdullah bin Shaiban Al Muhair.

Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, said that Factory Forward UAE, a national initiative that unifies the country’s industrial technology transformation programs under one platform, would help factories use more advanced technology, including AI, to increase productivity.

Bill Winters, CEO of Standard Chartered, reflected in an interview with CNBC on his unlikely path from aspiring diplomat to head of a global bank with deep roots in the Middle East.

John Defterios, former CNN emerging markets editor and energy correspondent, has been named Chairman of global advisory firm APCO for the Middle East and North Africa region.

🍽️ Show Stopper: One of London’s top Indian restaurants has arrived in Dubai. Gymkhana, a Mayfair institution with two Michelin stars, opened the doors to its striking new venue in the Dubai International Financial Centre this month. The two-level restaurant, decorated with a peacock mural and stained-glass windows, is serving up staples alongside dishes specially created for the Dubai outpost, including Makhmali king crab and Wagyu beef sukka. A “must-visit” according to The National’s reviewer.

📷 Photo of the Day

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, 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.

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

Sept. 20, New York. Qatar Economic Forum. 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. 

PIPELINE PERIL

Up to 4% of global oil supply could disappear within days unless Saudi Arabia restarts its East-West pipeline to the Red Sea. The kingdom is close to exhausting the oil it has stored for export, Saudi buyers and traders told Reuters. Drone attacks forced the pipeline to shut on Friday, cutting Riyadh’s primary route around the wartime closure of the Strait of Hormuz. Repairs could take five or six weeks, although the pipeline may resume partial operations sooner. A prolonged shutdown would deepen a supply crunch that has already pushed fuel prices to record highs and driven up inflation worldwide.

SATELLITE BOOST

Abu Dhabi’s Space42 and U.S. satellite company Viasat are putting up to $1 billion behind a venture aimed at keeping phones connected in areas that ground networks can’t reach. Each will initially invest $400 million in the new company named Equatys, with Space42 expected to contribute another $200 million in a future funding round, according to an agreement announced today at the World Space Business Week conference in Paris. The venture will build shared satellite and ground infrastructure serving remote areas, urban coverage gaps and other underserved locations. Space42’s shareholders include the Mubadala sovereign wealth fund, International Holding Co. and G42.

ADNOC: Abu Dhabi’s national oil company, along with its international investment arm XRG and clean energy firm Masdar, said it had signed deals worth as much as $5.8 billion with German energy and industrial groups, including Siemens and RWE. 

Masdar: The Abu Dhabi green energy company signed an MOU with Hamburg-based Luxcara to explore a joint investment in battery energy storage, offshore wind and other technologies in Germany and internationally.

Miral: The Abu Dhabi government-owned theme park developer announced at Arabian Travel Market that it would invest about $3.3 billion over the next five years to expand its hospitality and theme park offerings on Yas Island.

⚡ Energy Boost: Saudi technology company CASHIN and Syria’s Ministry of Energy have agreed to develop a national digital platform for petroleum derivatives.

🔋 Battery Boost: Egypt’s BME and China’s Contemporary Amperex Technology Co. will invest more than $39 million to establish an electric-battery plant for heavy commercial vehicles.

🎣  Go Fish: Cairo-based Arab Contractors won a contract from Oman’s Ministry of Agriculture, Fisheries and Water Resources to build a fishing port in Wilayat of Mahout.

📈 Bouncing Back: Jordan’s economy is proving resilient despite repeated Iranian missile attacks, with analysts saying its decades of geopolitical instability and strong ties with GCC states continue to support its appeal to Gulf investors.

🏦 Asian Market: Oman-based bank Sohar International has opened an Asia Pacific office in Hong Kong to strengthen relationships with investors, financial institutions and businesses across China and wider Asian markets.

🤖 Auto Pilot: Gulf logistics provider Starlinks has selected Swisslog to deliver a warehouse automation program for a new aviation maintenance, repair and overhaul facility in Saudi Arabia.

UAE President Sheikh Mohamed bin Zayed received Jordan’s King Abdullah II in Abu Dhabi on Sunday. During his visit to Germany last week, Sheikh Mohamed met with a group of business executives including Mathias Döpfner, CEO of media company Axel Springer.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, held a phone call with Prince Faisal bin Farhan, Saudi Arabia’s Minister of Foreign Affairs. Sheikh Abdullah also held a phone call with Dr. Badr Abdelatty, Egypt’s Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates. Sheikh Abdullah also spoke with Dr. Fuad Mohammed Hussein, Iraq’s Deputy Prime Minister and Minister of Foreign Affairs.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Deputy Prime Minister and Minister of Defense, shared photographs on Instagram of himself free diving and spearfishing.

Salim Al-Aufi, Oman’s Minister of Energy and Minerals, called for alternative LNG export routes to bypass the Strait of Hormuz, as prolonged Gulf conflict disrupts shipments and ADNOC Gas considers a facility outside the strategic waterway.

Emmanuël Brasseur was appointed Head of LNG at OQT, Oman’s global commodity trader.

Maged Wassim was appointed Vice President and Managing Director for the Middle East and Africa at Kyndryl, a provider of enterprise technology services.

💰 Beirut Bandits: Lebanon’s banking crisis served as the inspiration for a heist film backed by George Clooney’s Smokehouse Pictures. “Furies,” the debut feature by Lebanese director Rami Kodeih and his co-writer and wife, Nora Mariana, was inspired by Mariana’s experience of losing her savings, which she was counting on to pay for a surgery. “One day, we were not able to access our money and that was extremely traumatic,” Kodeih told The National. “A couple of days after, Nora sends a message to one of her close friends in Lebanon, saying: ‘Do I have to write a movie about us heisting our own money back?’”

📷 Photo of the Day

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, Riyadh. UNESCO Global Forum on the Ethics of AI. The event brings policymakers and tech leaders together to examine AI’s impact on global governance, diplomacy, national security and the emerging technological divide.

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

Sept. 20, New York. Qatar Economic Forum. 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. 

OIL ALARM

Oil prices jumped to a four-month high, with Brent crude topping $107 a barrel, as fighting between Saudi Arabia and Yemen’s Houthis intensified. The Iran-backed group seized the port of Mokha near the Bab el-Mandeb Strait while continuing missile and drone attacks that damaged Saudi energy facilities and injured 73 people. Crown Prince Mohammed bin Salman called President Donald Trump twice on Thursday and urged him to attack the Houthis, Axios reported, but Trump declined and offered U.S. intelligence support instead. The Houthis said their attacks were retaliation for Saudi-backed strikes in Yemen and restrictions on ports and airports in areas they control.

GAMING GIANT

Saudi Arabia’s Public Investment Fund is weighing a merger of Electronic Arts and Savvy Games to create one of the world’s largest gaming companies. The PIF closed its $55 billion take-private deal for Electronic Arts, backed by private equity firm Silver Lake and Jared Kushner’s Affinity Partners, last month, almost a year after it launched its bid. A merger would see EA’s large stable of gaming franchises, including “Battlefield” and “The Sims” combined under the same roof as Savvy’s “Pokemon Go” and mobile hits from China’s Moonton, which it is in the process of acquiring for $6 billion. Any merger would be unlikely to happen before that deal closes, Bloomberg reports. A merged entity would give the PIF and Saudi Arabia’s Crown Prince Mohammed bin Salman, an ardent gamer, a single vehicle to exploit intellectual property, make acquisitions and develop future hits. 

International Holding Company: IHC and India’s Adani Group have signed a preliminary agreement with the Indian state of Odisha to develop 14 trade and port projects with a combined investment of $22 billion.

Abu Dhabi Investment Authority: The Abu Dhabi sovereign fund said it will continue to pursue AI-driven investment opportunities while diversifying across sectors to manage risks amid geopolitical tensions, as it released its 2025 annual report on Thursday. ADIA raised its target allocations to private equity and hedge funds as it seeks to benefit from a recovery in buyout activity.

Qatar Investment Authority: The QIA participated in Positron AI’s $875 million Series C financing, which valued the AI inference hardware company at $5 billion.

L’Imad Holding: PureHealth’s subsidiary Circle Health Group is expanding into U.K. laboratory operations by acquiring selected Unilabs facilities, establishing PureLab’s presence in the country and supporting Circle’s network of more than 50 hospitals.

🌐 Transit Contract: Iraq has awarded Qatar’s Ooredoo a contract to build internet transit capacity linking the country to Europe via a 2,000-kilometer fiber-optic route from Faw port to the Turkish border.

✈️ Debt Deal: Dubai Aerospace Enterprise has secured a $2.1 billion five-year syndicated loan, with Emirates NBD acting as global coordinator.

🚦 Green Light: Saudi Arabia’s airline authority has approved Delta Air Lines to operate scheduled direct flights between Riyadh and Atlanta, the home of major U.S. corporations including Coca-Cola and UPS.

 💾 Data Protection: The UAE is revising plans for an enormous 5-gigawatt AI data center project in the wake of the Iran war and will likely transform it into a network of smaller data centers spread across the UAE, with some potentially underground, Reuters reports.

🤝 Hormuz Talks: Gulf states and Iran may meet in Oman next week to discuss the future of the Strait of Hormuz, in the first such gathering since the war began more than six months ago, Bloomberg reports.

✈️ Digging In: Dubai’s new Al Maktoum International Airport may move fuel tanks and other critical infrastructure underground to protect them from future missile and drone attacks, Dubai Airports CEO Paul Griffiths told the Financial Times.

🤖 Funding AI: Blackstone, the New York-based alternative asset manager which has been rapidly expanding in the Gulf, has set its sights on becoming the world’s largest AI financier, with plans to spend tens of billions on securing advanced chips, The Information reports.

🇩🇿 Diplomatic Saga: The UAE said it hopes Algeria’s decision to sever diplomatic ties will be temporary, after the Emirati ambassador was asked to leave Algiers.

UAE President Sheikh Mohamed bin Zayed caught the attention of watch enthusiasts online after he was photographed wearing a special edition timepiece from Bahraini watch brand Nuun Official, now known as Nuncier.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, will lead the UAE delegation at the 18th BRICS Summit, to be held in New Delhi on Saturday and Sunday.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, met with Johann Wadephul, Germany’s Minister for Foreign Affairs, in Berlin on Thursday.

Sheikha Tamador Al-Thani, Qatar’s Consul General in Houston, Texas, was mentioned by U.S. President Donald Trump during his speech at the National Medal of Honor Museum in Arlington, Texas, on Thursday. Qatar donated to the museum.

Sheikh Nasser bin Abdullah al-Thani, a member of Qatar’s royal family, allegedly racked up an unpaid hotel bill of $620,000 at the Dorchester, a five-star hotel in London’s Mayfair. The hotel has been granted permission by a court to auction his limited edition 2011 Fiat 500 Abarth Tributo Ferrari.

Sheikh Joaan bin Hamad Al Thani, a senior Qatari royal and the President of the Olympic Council of Asia, met with Saudi advisor and boxing power broker Turki Al-Sheikh, Chairman of the General Entertainment Authority.

Roger Goodell, the National Football League commissioner, is mapping the league’s international expansion – including potential growth in the Gulf – with plans to eventually establish teams outside the U.S. Goodell spoke to CNBC on Thursday before the first-ever regular-season game in Australia, between the San Francisco 49ers and the Los Angeles Rams.

Dr. Hanan H. Balkhy, WHO Regional Director for the Eastern Mediterranean, announced her candidacy for Director-General of the World Health Organization after being nominated by Saudi Arabia.

Dr. Yousif Al Hammadi was appointed CEO of UAE-based National Central Cooling Co., known as Tabreed. 

🤖 Robot Battle: A robot sports competition featuring dueling Terminator-inspired combat robots launched at Boulevard City in Riyadh this week ahead of its expansion to eight cities worldwide. Hosted by China’s Hero Esports, which is backed by the Public Investment Fund’s Savvy Games Group, CyberHero x Riyadh included the Middle East’s first humanoid robot combat show pitting EngineAI T800 humanoid robots against each other inside a purpose-built arena. The full-size combat robot, which is capable of running, punching, kicking, turning and recovering after falls, drew controversy earlier this year when Chinese robotics company EngineAI released a video of it kicking CEO Zhao Tongyang to the ground in a simulated battle.

📷 Photo of the Day

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

Sept. 20, New York. Qatar Economic Forum. 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. 

UNDERGROUND SCENE

Elon Musk’s Boring Co. plans to build an expansive network of new tunnels under the UAE after securing $3 billion in fresh funding in a round led by Emirati investment entities. The capital injection, which values the tunneling startup at $23 billion, will support a large-scale expansion of underground transport infrastructure in the UAE, where work is already underway on Boring Co.’s Dubai Loop. The futuristic Dubai Loop project will use one-directional underground tunnels to whisk passengers between key landmarks in a fleet of Teslas, with the first stage operating between the Burj Khalifa, DIFC 2, Zabeel Dubai Mall Parking and ICD Brookfield Place. The new funds will pay for 150 kilometers (93 miles) of additional tunnels. Participants in the Series D funding round include Shamal Holding, an investment firm tied to Dubai’s ruling family, as well as Human Capital, Vy Capital, Valor Equity Partners, Sequoia Capital, A16Z, Singapore’s Temasek sovereign fund and Baron Capital.

COFFEE BREAK

Mubadala is backing China’s biggest coffee chain with a $1 billion investment. The deal with Luckin Coffee’s main private-equity backer Centurium Capital gives the Abu Dhabi sovereign wealth fund an indirect stake and the right to appoint one director to Luckin’s board, Bloomberg reports. Luckin, which operates more than 36,000 stores, is a huge chain known for besting Starbucks in China through an app-first, cashier-less retail model. Mubadala has made a series of investments in China including in Shein, JD.com’s supply-chain arm and Full Truck Alliance.

Saudi Aramco: Dow is considering selling its 35% stake in the $20 billion Sadara chemicals venture, potentially allowing Saudi Aramco to increase its ownership.

International Holding Co.: UAE’s Marlan Space, in which IHC acquired an 80% stake this week, and U.S.-based Loft Orbital are leading a $1 billion investment in France to develop Altair-Next Gen, the world’s largest AI satellite infrastructure, with the first 50 satellites to be manufactured at Orbitworks’ facility in Abu Dhabi.

International Holding Co.: IHC-backed Alpha Wave Global joined BlackRock, Temasek and Premji Invest in a consortium investing nearly $1 billion in India’s Adani Airport Holdings at an $18 billion valuation.

Public Investment Fund: PIF-owned gigaproject Qiddiya has awarded a $221 million mechanical, electrical and plumbing contract for the Prince Mohammed bin Salman Stadium in Saudi Arabia to Qatari contractor Elegancia MEP, part of Estithmar Holding.

Mumtalakat: Abu Dhabi-based BlueFive Capital, which is backed by Bahrain’s sovereign fund, has acquired a 30% stake in Bugatti Rimac, the producer of Bugatti supercars, as part of a consortium led by New York-based HOF Capital that bought Porsche’s 45% stake in the Rimac Group and Bugatti Rimac.

🖥️ Digital Desert: Vodafone Business, Elsewedy Electric and Cassava Technologies plan to invest up to $1 billion in a 200-megawatt Egyptian data center that could create about 2,200 direct and indirect jobs.

💵 Billion Development: Dubai-based Azizi Developments is launching its first Sharjah project, the $8.16 billion mixed-use Azizi Florence, featuring 1,130 villas, more than 6,000 townhouses and 3,500 apartments.

⚓ Port Authority: Dubai’s DP World will co-develop a special economic zone in Kenya with local investment group GulfCap Africa.

 🏎️ Final Turn: Formula 1 may replace Abu Dhabi with Italy’s Imola circuit to host the 2026 season finale on Dec. 6 amid Middle East security concerns, NewsGP reports, citing Corriere dello Sport. F1 publicly maintains that its Qatar and UAE races remain unchanged.

📦 Shipping Challenging: The Red Sea has become “operationally hazardous” and commercially unattractive for many operators following the latest Houthi attacks, prompting more shipowners to divert around the Cape of Good Hope, Arabian Gulf Business Insight reports.

🚗 Car Manufacturing: ROX has begun producing its first UAE-made ADAMAS vehicles at its AI manufacturing center in KEZAD, Abu Dhabi, with annual capacity expected to reach 300,000 vehicles by 2030.

🛒 Saudi Bound: Retail giant Primark will open its first Saudi Arabia store at The Avenues Mall in Riyadh in March 2027, expanding its regional presence to five countries.

🛢 Oil Saga: Brent crude steadied near $101 a barrel after surging above $100 as escalating Iran-U.S. hostilities raised fears of deeper disruptions to shipping through the Strait of Hormuz.

🍎 Food Experience: Toku, a Singapore-listed customer-experience technology company, has established a UAE subsidiary and expanded its deployment with food delivery company Talabat to eight markets.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Holding, witnessed the signing of a $1.36 billion construction contract between Dubai Holding and China State Construction Engineering Corporation Middle East to deliver the group’s new headquarters and Jumeirah Residences Emirates Towers. 

Prince Turki bin Mohammed, Saudi Arabian Minister of State, attended the state funeral of Norway’s King Harald V in Oslo on Wednesday, on behalf of King Salman and Crown Prince Mohammed bin Salman.

Steve Witkoff, U.S. President Donald Trump’s diplomatic envoy, reported earning $107 million in 2025 from a holding company that owned his stake in World Liberty Financial, whose stablecoin was used by Abu Dhabi’s MGX in its $2 billion Binance investment.

Hamad Ali Al Khater, Qatar Airways Group CEO, said the airline has recovered to 90%-95% of pre-crisis passenger numbers and is now focused on a major five-year expansion drive, with plans to add 138 new aircraft.

Mounir Chahine, formerly of JPMorgan, was hired by Saudi Arabia-based Al Rajhi Capital as Director of Investment Banking to help expand its mergers and acquisitions business.

Faisal Ahmad was appointed CEO of Stonegate Capital, a Dubai-based family office.

Thomas Pramotedham, Presight CEO, shares his thoughts on radio station Dubai Eye on how domain-specific AI and sovereign infrastructure can support mission-critical operations.

Ageel Alshaibani was appointed CEO of the Saudi Tourism Authority, succeeding Fahd Hamidaddin.

🎤 Stage Return: Dubai Opera is preparing to kick off its new season on Saturday with a 10th Anniversary Gala featuring Egyptian soprano Fatma Said with the UAE National Orchestra and Festival Chorus. The 2026-2027 season includes the Ukrainian National Ballet performing Mozart’s “The Marriage of Figaro,” on Sept. 17-19, the Dubai Comedy Festival from Oct. 9-18, and multiple performances by the Bolshoi Theatre, which is launching its first official UAE tour with Rimsky-Korsakov’s “The Tsar’s Bride” on Dec. 2.

📷 Photo of the Day

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

Sept. 20, New York. Qatar Economic Forum. 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. 

BERLIN BOUND

UAE President Sheikh Mohamed bin Zayed begins a state visit to Germany today, where he is due to meet President Frank-Walter Steinmeier and Chancellor Friedrich Merz. UAE Ambassador to Germany Ahmed Al Attar said Sheikh Mohamed’s visit marks a milestone in bilateral ties and will create opportunities to deepen cooperation, building on the strategic partnership established in 2004. “Germany offers leading industrial, technical, and research expertise, while the UAE offers an advanced investment ecosystem, advanced infrastructure, and a strategic location connecting Asia, Europe, and Africa,” Al Attar told the state-run Emirates News Agency. Non-oil trade reached $15.6 billion in 2025, and the two countries are expanding cooperation in AI, clean energy, hydrogen, manufacturing, digital infrastructure and logistics. Meanwhile, the Anwar Gargash Diplomatic Academy is hosting an event today titled Germany and the UAE: Partners in a Changing World Order.

BREAKING ICE

An Arctic shipping route known as the “Ice Silk Road” is being promoted as an alternative to the Red Sea and Suez Canal for high-value cargoes transiting in the summer months. A Chinese cargo ship The Dubai Tower left Ningbo last month via Russia’s Northern Sea Route carrying energy storage systems and other goods and is due to arrive at its final destination in the U.K. today, after 21 days en route. Closely tracked by ship watchers, the vessel is completing the first voyage of a new regular cargo service using the seasonal shortcut, operated by the Sea Legend Line. A comparable journey via the Suez would take 30 to 35 days. While the Northern Sea Route is faster and increasingly accessible due to climate change, experts say it is still too difficult and expensive to be commercially viable for most cargoes, with ships requiring an icebreaker escort even at the height of summer.

International Holding Co.: IHC will acquire an 80% stake in UAE-based Marlan Holding through its International Tech Group, expanding into the space sector, including satellite infrastructure company Orbitworks, a joint venture with U.S.-based Loft Orbital.

L’Imad Holding: Mauritius is exploring a partnership with L’Imad-owned Etihad Airways that could include direct flights and investment in tourism, cargo, training, aircraft maintenance and airport services, Bloomberg reports.

Public Investment Fund: Acwa, the PIF-backed alternative energy company, and the Water Transmission Co. signed an agreement to assess Syria’s water resources and plan desalination and transmission projects.

🛢️ Afghan Exploration: Saudi Arabia’s Delta International Energy signed a $200 million contract to explore and extract oil and gas across seven blocks in western Afghanistan’s Kushk-Tirpul basin.

👷 Under Construction: Saudi Arabia’s Knowledge Economic City has signed an agreement with Kaden Investment Company to develop a mixed-use project in Medina.

✈️ Fleet Order: Air Cairo signed an agreement to add up to 30 Airbus A320neo aircraft to its fleet at the opening of the El Alamein International Airshow 2026, Egypt’s Civil Aviation Ministry said Tuesday.

✈️ Wizz Back: Hungarian low-cost airline Wizz Air announced its return to Abu Dhabi and Dubai with new routes, a year after closing its UAE-based operation.

⛽ Fracking Frontier: The UAE and Bahrain could become the next Gulf states to use fracking commercially to boost domestic gas supplies and potentially free up more conventional oil and gas for export, Arabian Gulf Business Insight reports.

💰 Gas Gap: Qatar posted its widest quarterly budget deficit since 2016 at $5.8 billion after the Iran war effectively shut the Strait of Hormuz and slashed its LNG exports by more than 90%.

🛢️Oil Quota: Iraq is seeking to raise its OPEC+ oil production quota, with future targets based on a 6 million-barrel-a-day capacity, according to people familiar with the matter, Bloomberg reports. 

🤖 Data Centers: FTI Capital Advisors advised MTN Group on a new digital infrastructure platform to develop AI-ready capacity across underserved African markets, in partnership with a UAE-based data center investor.

💼 Business Boom: The number of firms operating in Abu Dhabi Global Market rose 25% to nearly 14,000 in the first half, with more than 1,800 new licenses issued despite the outbreak of the Iran war in February.

Egyptian President Abdel Fattah El-Sisi, President of Cyprus Nikos Christodoulides and Greek Prime Minister Kyriakos Mitsotakis reaffirmed their full solidarity with the Gulf states during the concluding remarks at the Al-Alamein Trilateral Summit.

Sheikh Khaled Al-Sabah, Managing Director of International Marketing at Kuwait Petroleum Corporation, said during an energy conference in Singapore that Kuwait is considering oil pipeline links with Saudi Arabia and the UAE as an alternative to the Strait of Hormuz.

Sheikh Shakhboot bin Nahyan, UAE Minister of State, is taking part in the Middle East-America Dialogue Summit, underway in Washington, D.C.

Khawaja Asif, Pakistan’s Defense Minister, said any attack on Saudi Arabia could activate the Mecca Defense Alliance, in the wake of renewed Houthi attacks on energy targets in the kingdom, Bloomberg reports. 

Faysal El Hajjami, a former DHL executive, was appointed Chief Commercial Officer at Aramex, as the Dubai-headquartered logistics company accelerates its global growth strategy.

Faisal Baltyuor, CEO of the Red Sea Film Foundation, took part in a discussion titled, “Easy to Criticize, Impossible to Replace: Rethinking the Festival,” at the Lumiere Summit in France on Monday.

Asaf Ezra, co-founder of computer optimization firm Granulate – later bought by Intel – has been hired as a partner by Andreessen Horowitz to invest in early-stage Israeli cybersecurity and AI infrastructure startups, Globes reports.

📚 Book Worms: The Abu Dhabi International Book Fair kicks off on Sunday, drawing exhibitors from 95 countries and hosting 1,500 events with themes ranging from literature and music to space diplomacy. The 35th edition of the fair is celebrating Spanish author Miguel de Cervantes’s masterpiece “Don Quixote,” which has been designated Book of the World, while eighth-century scholar Al Khalil ibn Ahmad Al Farahidi is the fair’s Focus Personality, The National reports. The fair runs until Sept. 18.

📷 Photo of the Day

Sept. 8-10, El Alamein, Egypt. El Alamein Airshow. The event brings together aerospace, defense and space organizations from Africa and the Middle East. El Alamein International Airport.

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

Sept. 20, New York. Qatar Economic Forum. 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. 

REFINED TASTE

Abu Dhabi’s national oil company is in talks with Nigeria’s Dangote and Thailand’s PTT as it looks to invest in international refineries as part of a strategy to boost its international fuel trading business. ADNOC is seeking stakes in Dangote’s refinery operations, which include Africa’s largest facility in Nigeria, Bloomberg reports. The company, founded by billionaire Aliko Dangote, launched documents for its IPO on Monday, seeking to raise about $16 billion as it plans a major expansion including a new facility in East Africa. Separately, ADNOC is eyeing a deal with PTT that would allow it access to trade fuels from other sellers, as well as supplying its own crude. ADNOC has traditionally relied on its Ruwais facility to supply global buyers, but has faced constraints from the closure of the Strait of Hormuz. The UAE’s exit from OPEC in May has also freed ADNOC from quotas.

PASSPORT EXPRESS

Dubai has launched a super-fast feature at its airports that allows passengers to pass through border control in under 15 seconds. Using the system, immigration officers can process passengers anywhere inside the airport through facial recognition, biometric verification and electronic passport readers, Arabian Business reports. More than 31,000 passengers used the service during its pilot phase, with officials planning to deploy it during peak periods and emergencies. Departures are available to all passengers, while arrivals are initially limited to UAE citizens and residents before a wider rollout.

Public Investment Fund: The Saudi sovereign wealth fund launched a company to build a tourism and residential project on the Gulf coast near Kuwait, with more than 16,000 homes, hotels and shops.

Qatar Investment Authority: Volkswagen, which is backed by the QIA, is considering selling Italian motorcycle manufacturer Ducati as part of an overhaul of its portfolio.

L’Imad Holding: The Abu Dhabi fund has cleared all conditions to proceed with its voluntary cash offer, through ADQ, to acquire the remaining 24.58% of AD Ports Group, which is listed on the Abu Dhabi Securities Exchange.

QatarEnergy: A Qatari LNG tanker has sailed through the Strait of Hormuz for the first time since July, signalling a possible resumption of LNG exports through the waterway.

Kuwait Petroleum Corp.: Kuwait is exporting about 1 million barrels of crude a day as shipments through the Strait of Hormuz recover, with state producer KPC using ship-to-ship transfers and alternative routes to serve customers.

Red Sea Global: Red Sea Global’s hotels and Red Sea International Airport are now fully powered by renewables following the start of commercial operations at ACWA’s $1.8 billion off-grid utilities project, Arabian Gulf Business Insight reports.

🌐 Data Servers: Meeza, a Qatar-listed data center operator, signed a $275 million long-term leasing deal with an undisclosed global hyperscaler to provide 8 megawatts of data center capacity.

📈 Public Debut: Mukesh Ambani’s Jio Platforms plans to begin marketing as early as next week for a potential November IPO that could rank among India’s largest-ever listings, with meetings planned across the U.S., Singapore, Hong Kong, London and the Middle East, Bloomberg reports.

🛍️ Brand Building: Creative Investments Holding has secured $20 million in initial commitments towards a $50 million fund to build a MENA platform investing in brands and experiences across food, hospitality, fashion, retail and lifestyle.

🏢 Twisting Tower: Garuda Construction’s subsidiary Dream City Builders has signed a deal with Almasarat to develop a 93-storey twisting tower in Jeddah, with the five-year project expected to generate about $191 million in revenue.

🏦 Fintech Fund: UAE-based fintech Sav has raised $3.5 million in a Pre-Series A round, bringing total funding to $5.5 million to expand its AI-native financial platform.

🔵 Blue Fund: The UAE’s biggest lender, First Abu Dhabi Bank set a $27.2 billion blue finance target for water and blue economy projects from 2026 to 2035.

💰Insurance Costs: UAE event organizers are facing surging insurance costs and tighter war-related cancellation cover as regional conflict drives up premiums, with war protection for a $40 million event now costing about $5 million or more.

🤖 Robotic Helpers: Talabat has partnered with Singapore-based Quikbot to pilot an autonomous delivery service in Dubai Silicon Oasis, where orders are collected from drivers in a building lobby and transported to the customer’s door.

🇨🇭 Swiss Cheese: Millennium Management, which hasa large presence in Dubai, is in discussions with authorities in Geneva to strike a tax deal and expand its office there, as Swiss cantons compete aggressively for high-net-worth individuals.

🚶 Walking Away: Anthropic has abandoned talks to acquire Israeli AI startup Decart after conducting due diligence on a potential $6 billion deal, though the companies may still collaborate.

🧳 GCC Visa: The long-awaited Unified Gulf Tourist Visa is expected to launch soon, allowing international visitors to travel across all six GCC countries and boosting regional tourism.

UAE President Sheikh Mohamed bin Zayed held a phone call with Lebanon’s President Joseph Aoun on Monday.

Qatar’s Emir Sheikh Tamim bin Hamad held a phone call with UK’s Prime Minister Andy Burnham on Monday.

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, visited the Natural History Museum Abu Dhabi in the Saadiyat Cultural District on Monday.

Sheikh Saud bin Saqr Al Qasimi, Ruler of the UAE emirate of Ras Al Khaimah, delivered a keynote address at the opening of the 15th edition of the AIM Congress at the Dubai World Trade Centre.

Jasem Al Budaiwi, GCC Secretary General, told delegates at AIM Congress 2026 in Dubai that the GCC economic bloc remains a magnet for investment despite risks such as the continuing war, disruption to shipping, and energy sector volatility. “As variables and risks multiply, the strength of an economy, the strength of its institutions, the clarity of its directions and its ability to adapt to change become factors in guiding investment decisions,” he said.

Badr Jafar, UAE Special Envoy for Business and Philanthropy, said during his speech at AIM congress 2026 that resilient trade depends on long-built corridors, partnerships, trust and philanthropic capital, urging economies to build the next trading system before it is needed.

Corey Lewandowski, the American lobbyist, allegedly approached senior Qatari officials with a “hire me on the side” proposal while serving as a special government employee at the Department of Homeland Security for the Trump administration, the Wall Street Journal reports. Both countries turned him down, the newspaper said.

Dixit Joshi was appointed Managing Director, Middle East Technology and Advisory Solutions, and Digital Assets at BlackRock.

Mark Fiteny, JPMorgan Chase & Co.’s Head of Asia-Pacific Technology, Media, and Telecom (APAC TMT) and New Economy Investment Banking, and Matt Gehl, Head of EMEA Technology Investment Banking, were named as co-heads of International Technology Investment Banking, Reuters reports. The bank named Pieter Himpe as new co-head of EMEA Technology Investment Banking alongside Bill Hutchings.

🍽️ Desert Dining: Saudi Arabia is turning the ancient oasis of AlUla into an unlikely fine-dining destination, recruiting Michelin-starred chefs to serve dishes ranging from camel with foie gras to Saudi-Spanish fusion. The New Yorker finds that the government-backed culinary boom still faces desert realities, including late deliveries, scarce kitchen staff and menus filled with unavailable dishes. 

📷 Photo of the Day

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. 8-10, Al Alamein. Al Alamein Airshow. With a dedicated conference on Sept. 7, the event brings together aerospace, defense and space organizations from Africa and the Middle East. El Alamein International Airport.

Sept. 9, Abu Dhabi. Germany and the UAE: Partners in a Changing World Order. The event, hosted by the Anwar Gargash Diplomatic Academy, focuses on the evolving strategic relationship between Germany and the UAE. Anwar Gargash Diplomatic Academy.

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

Sept. 20, New York. Qatar Economic Forum. 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. 

FINAL OFFER

Warner Bros. Discovery has tentatively opened a crack in the door for a Gulf-backed buyout by David Ellison’s Paramount, asking for a “best and final proposal” for the entertainment and media Goliath, while continuing to pursue its $82.7 billion deal with Netflix. Paramount, which submitted an amended offer last week, said on Tuesday that it welcomed the chance to have “good faith and constructive discussions.” Paramount has aggressively pursued WBD, launching multiple successive offers backed by various configurations of Gulf sovereign wealth funds. In December the newly-formed Abu Dhabi state investment vehicle L’imad Holding Co. joined the fray by backing a $108 billion hostile offer.

EXPO EXPOSED

A data breach that exposed identity documents of high-level attendees at Abu Dhabi Finance Week 2025 has been secured and was limited in scope, according to organizers. Scans of more than 700 documents, including passports and state ID cards, were discovered to be accessible online via an unprotected cloud storage server, uncovered by a freelance security expert, the Financial Times reports. Those exposed included former White House communications director and investor Anthony Scaramucci, billionaire hedge fund manager Alan Howard and former British prime minister Lord David Cameron. Organizers blamed a vulnerability at a third-party vendor. “The environment was secured immediately upon identification, and our initial review indicates that access activity was limited to the researcher that identified the issue,” an unnamed representative of ADFW told The National.

Mubadala: The Abu Dhabi sovereign wealth fund boosted its stake in BlackRock’s iShares Bitcoin Trust to 12.7 million shares worth $630.6 million in Q4 2025, a 46% increase in its holdings. The cryptocurrency has fallen more than 40% from its all-time peak in October.

L’imad Holding: AD Ports Group has grown its global network to 36 ports and terminals as the Abu Dhabi-backed operator accelerates international acquisitions and logistics investments.

Public Investment Fund: The Saudi sovereign wealth fund transferred its roughly $3 billion, 11-million-share stake in gaming studio Take-Two Interactive to subsidiary Savvy Games Group ahead of the launch of Grand Theft Auto VI.

The Sovereign Fund of Egypt: Egypt is preparing to transfer stakes in about 60 state-owned companies to its sovereign wealth fund ahead of potential EGX listings, part of Cairo’s broader push to attract private investment and ease fiscal pressure.

Qatar Investment Authority: Hamad Al-Khater, Qatar’s Airways’ new CEO, told Bloomberg he intends to prioritize relations with Airbus, which has demonstrated that “they’ll be able to deliver” on their promises.

🧪 Fertilizer Pivot: UAE fertilizer producer Fertiglobe is targeting increased sales to Europe as the EU tightens curbs on Russian supplies, CEO Ahed El-Hoshy told Bloomberg.

📦 Logistics Partners: Saudi Ports Authority and MEDLOG, the logistics arm of global container shipper MSC, inaugurated a $40 million integrated logistics center at King Abdulaziz Port in Dammam.

💻 AI Risks: Palo Alto Networks is is acquiring Israeli cybersecurity startup Koi for an estimated $400 million, targeting emerging risks from autonomous AI agents on corporate systems, Calcalist reports.

🔴 Red Planet: The UAE Space Agency has extended the Emirates Mars Mission through 2028, allowing its Hope Probe to continue scientific observations of the planet’s atmosphere beyond its original timeline.

🚢 Treading Water: Iran and Russia plan to conduct joint navy drills in the Gulf of Oman and northern Indian Ocean tomorrow, raising further security concerns after Iran temporarily closed the Strait of Hormuz for several hours on Tuesday. 

🛢️ Friendly Handover: Iraq’s cabinet approved an amicable settlement with Lukoil over the transfer of operations of one of the world’s largest oilfields to the state-run Basra Oil Company, following U.S. sanctions on the Russian energy giant.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, visited the Ministry of Human Resources and Emiratisation on Tuesday to review strategic plans for the future of the nation’s labour system.

Sheikh Mohammed bin Abdulrahman al-Thani, Qatar’s Prime Minister, arrived in Venezuela, where he was greeted by Foreign Minister Yvan Gil on Tuesday.

Lt. Gen. Sheikh Saif bin Zayed, UAE Deputy Prime Minister and Minister of Interior, honored the winners of the seventh edition of the Minister of Interior’s Excellence Award during a ceremony held at the Emirates Palace in Abu Dhabi on Tuesday.

Michael Doersam, CFO of Emirates, said he plans to step down in June after a decade in the role. The Dubai-based airline said it will announce a successor “in due course.”

Bandar Alkhorayef, Saudi Arabia’s Minister of Industry and Mineral Resources and Chairman of the Saudi Authority for Industrial Cities and Technology Zones, launched a package of capital projects on Monday valued at $810 million.

Damien Drap was appointed Chief Operating Officer, Haresh Bajaj as Chief Product Officer and Denis Agiev as Chief Technology Officer of Prypco, a UAE-based PropTech platform.

Morgan Parker, Vice Chairman of the management committee at Qiddiya Investment Co., spoke to Arab News about what drives Saudi Arabia’s huge entertainment project. “At its heart, Qiddiya City is about play,” Parker said. “Imagine a whole city dedicated to facilitating those experiences,” Parker said. “That’s what we’re building.”

🧑‍🎨 Fixer-Upper: The Triumph of David, an 18-meter-long painted leather artwork depicting a royal procession and inspired by the biblical story of David and Goliath, is now on display at Louvre Abu Dhabi, following a painstaking two-year restoration project. The origins of the 17th-century artwork, which was last displayed on the walls of a Parisian hotel, are uncertain, but it is stylistically linked to artists associated with the Dutch master Rembrandt, The National reports. 

March 25-27, Miami. FII Miami 2026. A summit on disruptive technology and investment trends hosted by the Public Investment Fund’s Future Investment Initiative Institute. Faena Hotel, Miami Beach.

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC. 

April 6-13, Dubai. Quantum Innovation Summit. Part of Global Quantum Week, focusing on quantum technology and applications. Grand Hyatt.

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental. 

April 7-9, Dubai. Middle East Energy. Discover what’s new in energy. Dubai World Trade Centre. 

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 11-20, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC.

April 20-22, Riyadh. Future Aviation Forum. Exploring the future of air transport, sustainability, advanced air mobility, and artificial intelligence. King Abdulaziz International Conference Center.

April 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 21-23, Dubai. UITP Summit 2026. A high-level event for the public transport sector looking at the future of urban mobility. Dubai World Trade Centre

April 24-26, 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.

April 29-30, Dubai. TOKEN2049 Dubai. A global gathering for the crypto ecosystem. Madinat Jumeirah.