BLACKJACK-READY

Makers of roulette wheels, slot machines and blackjack tables are setting up shop in the UAE with hopes of winning contracts at the country’s first legal casino. As Wynn Resorts prepares to open a $5 billion hotel and adjoining casino in 2027, at least 14 equipment providers have been granted or are seeking licenses from the UAE’s General Commercial Gaming Regulatory Authority, Arabian Gulf Business Insight reports. Las Vegas-based Konami Gaming announced this week that it received the government approval to sell slots and other casino paraphernalia in the UAE. MGM Grand and Malaysia’s Genting Group are among other casino operators reportedly planning to open hotels alongside the Wynn resort on Al Marjan, an artificial island built off the coast of the emirate of Ras Al Khaimah.

MAPPING AFRICA

Abu Dhabi’s Space42, Microsoft and Silicon Valley-based Esri have launched the “Map Africa Initiative,” a five-year effort to develop high-quality digital base maps across all 54 African nations. The project, unveiled at the 2025 Esri User Conference in San Diego, aims to strengthen local mapping infrastructure and deliver geospatial data to support governments, businesses and communities. The companies said this effort could benefit more than 1.4 billion people and boost institutional capacity across the continent. By providing high‑precision base maps, the initiative is expected to enhance route planning for ports and logistics, optimize renewable energy deployment, improve security and disaster response, and underpin the development of smart cities and digital economies. 

G42: The Abu Dhabi-owned tech company is nearing a deal with Germany’s Northern Data to secure data center capacity in Europe, supporting its fast-growing artificial intelligence operations across the region, Bloomberg reports.

Abu Dhabi Investment Authority: ADIA has acquired a 1.2% stake in India’s National Securities Depository Limited as an anchor investor in its $460 million IPO opening today.

Mubadala: Spanish refiner Moeve, majority-owned by Abu Dhabi’s Mubadala, reported lower earnings for the first half of 2025 due to April’s massive power outage in Spain and Portugal.

Masdar: Emerge, a joint venture between Masdar and France’s EDF, will develop a 621 kilowatt peak rooftop solar PV plant in Misk City, northwest of Riyadh, under a 20-year deal to supply sustainable power and support the city’s green certification goals.

Qatar Investment Authority: Anthropic is nearing a deal with Iconiq Capital to raise as much as $5 billion in a new round of funding that would value the artificial intelligence startup at $170 billion, Bloomberg reports. Anthropic has also reportedly been in discussions with the Qatar Investment Authority and Singapore’s sovereign fund GIC about participating in the round.

💰Fund Flight: Star trader Tony Chedraoui’s Tyrus Capital is shutting its London office and relocating its hedge fund operations to Abu Dhabi, Bloomberg reports.

🏗️Global Hub: Saudi Arabia, in partnership with Thai investors, will build a $173 million multicultural “global city” in Dammam, featuring a manmade lake, floating bazaar and attractions modeled on Dubai’s Global Village, daily Arabic speaking Al Madina news reports.

💻Cyber Grab: Palo Alto Networks, the world’s largest cybersecurity company, is in advanced talks to acquire Israel’s CyberArk for over $20 billion, which would be its biggest acquisition ever, The Wall Street Journal reports.

📈Private Equity Surge: Saudi Arabia led MENA private equity activity in the first half of 2025, accounting for 45% of regional deals and outpacing the UAE, according to a report by MAGNiTT.

🚔Taxi Territory: Abu Dhabi has extended its autonomous taxi network to Al Reem and Al Maryah Islands, furthering its goal of achieving 25% smart mobility by 2040.

🏢Conglomerate Caution: Gulf oil giants risk turning into sprawling conglomerates as their growing portfolios expand beyond energy, raising questions about the long-term coherence of their investment strategies, The Economist reports.

🧠 AI Showdown: China is ramping up efforts to build a domestic artificial-intelligence ecosystem that can function without Western technology, as it steels itself for a protracted tech contest with the U.S., The Wall Street Journal reports from an AI conference in Shanghai.

🥂Liquid Gold: A restaurant in Dubai is charging AED450 ($122) for a Caesar salad, The National reports.

UAE President Mohamed bin Zayed received a phone call from the U.K. Prime Minister Keir Starmer, during which they discussed Gaza, efforts to strengthen regional security and relations between their two countries.

Saudi Arabia’s King Salman Abdulaziz Al Saud chaired a Cabinet session held on Wednesday in Jeddah.

Sheikh Mohamed bin Rashid, UAE Vice President and Ruler of Dubai, noted on X that the UAE’s non-oil foreign trade rose by 24% in the first half of 2025 compared to the same period last year, which he called “an unprecedented development for the UAE.”

Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, received Emilio Pin Godos, Spain’s Ambassador to the UAE, at his palace in Saqr bin Mohammed city on Tuesday.

Saudi Prince Faisal bin Bandar Al Saud who is a close ally of Crown Prince Mohammed bin Salman and shares his love of video games, is the subject of a profile in The Intelligence Online.

Hussain Al Sijwani, the founder of DAMAC Properties, shared his experience hanging out with U.S. President Donald Trump at the Trump Turnberry Golf Course in Scotland. 

Walid Hassouna, CEO of Egypt’s Valu consumer finance company, told Zawya he’s considering cross-border expansion and new products after the firm’s shares surged over 850% on their first day of trading.

🏛️ Blooming Bosporus: From newly-renovated Ottoman-era baths to cutting-edge contemporary art collections, Istanbul’s museums are having a moment, The New York Times reports. The Turkish capital has opened or re-opened five significant museums, including the Renzo Piano-designed Istanbul Modern and Zeyrek Cinili Hamam, a 1530s bathhouse which has undergone an opulent 13-year renovation.

July 7-Aug. 24, Riyadh. Esports World Cup. A seven-week gaming extravaganza with a $70 million prize pot. Boulevard City.

July 25-27, New York City: Abu Dhabi Calling. A multi-sensory, immersive exhibit promoting tourism to the UAE capital. Hudson Yards.

Aug. 23-24, Riyadh. New Global Sports Conference. Showcasing how esports can create new global opportunities. Four Seasons Hotel Riyadh.

August 29, Dubai. Sustainability Innovation Forum 2025. A forum for construction companies, entrepreneurs, hotel executives, and design leaders. Al Habtoor Palace. 

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

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

Nov. 12. New York. Dubai Business Forum-USA. The fourth international edition of the forum aims to introduce the American business community to the diverse opportunities created by the Dubai Economic Agenda. Venue TBA.

SUBSIDY SCRUTINY

ADNOC’s $14 billion bid to acquire German plastic maker Covestro may be in trouble. European Union regulators announced a formal investigation on Monday over concerns that the Abu Dhabi oil company’s state funding gives it an advantage that could hamper fair competition. The acquisition of Covestro was previously approved, but the investigation adds a new wrinkle to the deal. EU regulators issued a statement saying that a guarantee by the UAE to support the purchase of Covestro may have enabled ADNOC to make an offer with a valuation and financial terms that competitors couldn’t match. The Abu Dhabi company said it will contest the findings.

COOL DEAL

Abu Dhabi will invest almost $220 million in projects to boost tourism to Oman’s southern city of Salalah, including building a new luxury resort and upgrades to a marina and beachfront area. The money from the Abu Dhabi Fund for Development will also support essential infrastructure works, The National reports. Salalah is popular with Gulf residents looking to escape the oppressive heat of summer. Every year the surrounding region experiences heavy rainfall during “Khareef” season from June to September, transforming the desert landscape into a lush Arcadia of greenery and waterfalls. The UAE and Oman agreed to a raft of investment partnerships following a state visit by Oman’s Sultan Haitham to the UAE in April last year, including projects across tourism, renewable energy, green metals and technology.

Public Investment Fund: Saudi Arabia’s sovereign wealth fund was ranked the most valuable and fastest-growing sovereign fund globally, offering a brand value of $1.2 billion, according to Brand Finance’s 2025 report.

ADQ: AD Ports Group signed a 50-year land lease agreement with Emirates Food Industries to build advanced silos at Abu Dhabi’s Khalifa Port’s South Quay.

Mubadala: The sovereign wealth fund’s Mubadala Investment Co. hired Daniel Fletcher from Toronto-based property firm Dream to head its real estate business in the Americas.

Oman Investment Authority: SERB, a drone startup backed by the OIA, plans to deploy 5,000 drone pilots while consulting with government agencies to strengthen air navigation safety.

Oman Investment Authority: ZabonEx, an Oman-based startup that provides an SaaS platform for food and beverage businesses, has raised $100,000 in a pre-seed funding round backed by the OIA’s Future Fund Oman.

📈 High Demand: The $336 million IPO of Saudi Arabian developer Dar Al Majed Real Estate Co. sold out within minutes of books opening on Tuesday, Bloomberg reports.

✈️ Boeing Lease: Dubai Aerospace Enterprise agreed to buy 10 Boeing 737-9 aircraft from United Airlines and lease them back to the U.S. carrier.

🏢 Retail Lead: Arada, a UAE property developer, awarded a $16.3 million contract  to Intermass for the construction of Masaar Central, a retail and lifestyle hub in the emirate of Sharjah..

🛒 Food Trolly: Calo, Saudi foodtech startup,raised $64 million in a Series B funding round to expand globally and prepare for a possible IPO in 2027, Bloomberg reports. 

🍴Dinner Bill: Kuwait-based Kamco Invest, acquired a stake in Foodics, a payments platform used by 33,000 restaurants in the MENA region that processed $10 billion in bills last year. The size of the stake was not disclosed.

💻 AI Acquisition: Nice Ltd., an Israeli maker of customer engagement software, agreed to buy Germany’s Cognigy AI firm for $955 million, to acquire its human-like virtual agents that can talk in a range of different languages.

📈 Gulf Resurgence: Gulf economies are expected to grow faster in 2025 as petroleum output rises and diversification gains momentum, despite subdued prices and lingering uncertainty over global oil demand, a Reuters poll of economists shows.

🤝 Merger Moves: Kuwait’s Gulf Bank and Warba Bank of Kuwait appointed advisors to explore a possible merger, with Gulf Bank hiring Goldman Sachs and Warba hiring J.P. Morgan.

🍾 Exquisite Taste: NOBU, the world-renowned Japanese-Peruvian restaurant, hosted a pre-opening celebration at SODIC’s Ogami resort on Egypt’s north coast.  

🛫 Airline Rivalry: Ryanair boss Michael O’Leary slammed Wizz Air’s retreat from the Gulf, accusing it of making “inventive” excuses and warning its falling value could invite Middle Eastern takeover bids.

UAE President Sheikh Mohamed bin Zayed issued a federal decree to promote Sheikh Hamdan bin Mohammed bin Rashid, the Minister of Defense and Crown Prince of Dubai, to the rank of Lieutenant General.

Sheikh Hamdan bin Zayed, the Ruler’s Representative in Al Dhafra Region, attended specialized demonstrations by the 22nd cohort of the UAE National Service Program at the Liwa Training Centre.

Sheikha Bodour bint Sultan Al Qasimi, President and Chairperson of the Board of Trustees of American University of Sharjah, was conferred with the title of Honorary Professor by the University of Leicester.

Mohammed Fannouch was named HSBC’s co-head of capital markets and advisory across the MENA and Turkey region, having previously served as the bank’s co-head of investment for Saudi Arabia.

Nedaa Al Mubarak was appointed as CEO of Saudi Arabia’s SRMG Media Solutions, the commercial representative of more than 30 media properties, including Asharq News, Arab News and Billboard Arabia.

Hadley Gamble, a former anchor for CNBC and Al-Arabiya English, has been hired by International Media Investments as the group’s Chief International Anchor, to conduct high-impact interviews and produce original content across IMI portfolio companies including SkyNews Arabia, CNN Arabia, The National and Al Ain News. 

🎤 Comedy Kingdom: The line-up has been announced for the first ever Riyadh Comedy Festival, with a slew of international performers, including U.S. stars Chris Tucker, Pete Davidson, Aziz Ansari and Tom Segura, set to perform at Boulevard City from Sept. 26 to Oct. 9. A total of 26 artists have been confirmed, with more to be announced in coming weeks. The first comedy festival of its scale in Saudi Arabia has the potential to test the bounds of the kingdom’s  freedom of expression. Most comedians who perform in the Gulf are required to agree to offer sheets with a list of sensitive topics to be avoided. 

July 7-Aug. 24, Riyadh. Esports World Cup. A seven-week gaming extravaganza with a $70 million prize pot. Boulevard City.

July 25-27, New York City: Abu Dhabi Calling. A multi-sensory, immersive exhibit promoting tourism to the UAE capital. Hudson Yards.

Aug. 23-24, Riyadh. New Global Sports Conference. Showcasing how esports can create new global opportunities. Four Seasons Hotel Riyadh.

August 29, Dubai. Sustainability Innovation Forum 2025. A forum for construction companies, entrepreneurs, hotel executives, and design leaders. Al Habtoor Palace. 

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

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

Nov. 12. New York. Dubai Business Forum-USA. The fourth international edition of the forum aims to introduce the American business community to the diverse opportunities created by the Dubai Economic Agenda. Venue TBA.

GULF STREAM

Netflix will team up with MBC Group’s Shahid, the world’s biggest Arabic content streaming platform, to offer a joint subscription bundle via MBCNOW. The offer is already available in Saudi Arabia, with a wider rollout planned across the Mena region, The National reports. The first regional agreement of its kind steps up the increasingly-fierce competition for Arabic-language viewers, after U.S. media giant Warner Bros. Discovery bought a one-third stake in Dubai streaming company OSN in March for $57 million. Demand for Arabic-language content grew by 16 times between 2020 to 2024, according to research by Parrot Analytics and Rise Studios.

ARAB ENTERPRISE

Lords, diplomats and corporate executives turned out last week for a British celebration of Arab entrepreneurship. The London event, sponsored by the U.K.’s Arab Entrepreneurs Board, took place in the House of Lords and featured an awards ceremony to recognize outstanding Arab businesses, Arab News reports. Among the companies taking part were NEOM, Binghatti, BMG Financial Group, The Ritz London, Aston Martin and Harrods. The event was opened by Lord Dominic Johnson, who delivered a keynote address highlighting the critical role of entrepreneurship in building resilient and inclusive economies.

ADQ: Etihad Airways, the ADQ-backed Abu Dhabi carrier, is considering deferring its $1 billion IPO to the first quarter of 2026, allowing the airline to capitalise on its recent partnerships, Zawya reports.

Abu Dhabi Investment Authority: Indian eyewear retailer Lenskart Solutions, which is backed by ADIA and other international investors including Japan’s SoftBank, is planning to file for a $1 billion IPO as early as this week, Bloomberg reports. 

Public Investment Fund: SURJ, the sports arms of the PIF, has completed a funding round for the organizers behind the T100 Triathlon Tour, contributing to an estimated total of $40 million raised, Bloomberg reports.

MGX: The Abu Dhabi fund has indicated its interest in a potential investment in Anthropic that would more than double the AI company’s valuation to $150 billion, the Financial Times reports.

GIC: Singapore’s sovereign wealth fund is expressing caution regarding the private credit market, noting the shrinking yields and a lack of experience with economic downturns in the booming sector, the Financial Times reports.

💻 Signal Rollout: The Moroccan government announced an $8 billion investment to roll out 5G technology across the country, covering 85% of the population by 2030.

🤝 Buying Components: India’s Amber Group will acquire a minority stake in Israel’s electronic components company Unitronics, purchasing more than 40% of the shares from private equity fund FIMI and tech entrepreneur Haim Shani for about $47 million.

🏭 Atomic Goals: Emirates Nuclear Energy Company signed a preliminary agreement with Hyundai Engineering & Construction to explore international nuclear energy opportunities.

⛽ Diesel Relief: A supertanker loaded with about 2 million barrels of diesel from Saudi Arabia is en route to Europe, aiming to alleviate the continent’s fuel shortages, Bloomberg reports.

 🔋 Battery Brine: Zhiping Lai, a professor at Saudi Arabia’s King Abdullah University of Science and Technology, has developed a technique for extracting lithium infused in the brine of desalinated water, and has established a start-up to try to commercialize the process, which could eventually be used to make lithium batteries, the Financial Times reports.

🏛️ Debt Partner: Saudi Arabia’s Ministry of Finance and National Debt Management Center appointed France’s Societe Generale as a primary dealer for local debt instruments.

🌴 Planting Mangroves: Saudi Arabia is expanding its mangrove forests as part of a push to restore coastal habitats, combat climate change, and diversify the Kingdom’s tourism economy, Arab News reports.

🏢 Tourist Hub: Oman’s Duqm region has attracted over $2.2 billion in tourism investment, including 21 hotels, 10 hotel apartments and a multi-use purpose project.

Sheikh Zayed bin Hamdan, Chairman of Abu Dhabi investment holding company 2PointZero, attended the finish line in Paris, as Tadej Pogačar, riding for the UAE’s Emirates XRG team, won his fourth Tour de France on Sunday. Also attending was Dr. Sultan al Jaber, UAE Minister of Industry and Advanced Technology, and CEO of ADNOC, who met with Bernard Fontana, Chairman and CEO of French utility EDF.

Prince Abdulaziz bin Salman, Saudi Arabia’s Minister of Energy, met Syria’s Minister of Energy Mohammad Al Bashir in Riyadh on Sunday.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, said that the UAE will continue airdropping aid to Gaza and seek other means by land and sea.

Sheikh Abdullah held a phone call on Monday with Winston Peters, Minister of Foreign Affairs of New Zealand.

Sana Khater has been appointed CEO for Bahrain-based Investcorp Capital starting in September.

Marcelo Claure, the billionaire former Softbank executive, will likely serve as Chairman of the U.K.’s Arden University following the acquisition by private equity firm Brightstar Capital Partners of a 50% stake in the for-profit school, the Financial Times reports.

Ziad Rahbani, the acclaimed Lebanese composer and musician known for his unique blend of Western and Arabic sounds, has died at 69. 

Ali Bu Sharabak Al-Mansori, Acting General Manager of Qatar Chamber, met on Monday with Guo Hao, Deputy General Manager of the Industrial and Commercial Bank of China in Doha, at the Chamber’s headquarters.

🎹 Sound Investment: Saudi Arabia’s MDLBEAST Foundation is looking for early-stage music startups across the Mena region to take part in this year’s Sound Futures, a project designed to match entrepreneurs with investors and industry experts in the hope of creating the next big thing in entertainment. A previous participant in the initiative, Maqam Labs, created a synthesizer that brings Middle Eastern scales, known as Maqamat, to electronic music. Applications close by October, with the main event, the XP Music Futures Conference, running from Dec. 4-6 in Riyadh.

July 7-Aug. 24, Riyadh. Esports World Cup. A seven-week gaming extravaganza with a $70 million prize pot. Boulevard City.

July 25-27, New York City: Abu Dhabi Calling. A multi-sensory, immersive exhibit promoting tourism to the UAE capital. Hudson Yards.

Aug. 23-24, Riyadh. New Global Sports Conference. Showcasing how esports can create new global opportunities. Four Seasons Hotel Riyadh.

August 29, Dubai. Sustainability Innovation Forum 2025. A forum for construction companies, entrepreneurs, hotel executives, and design leaders. Al Habtoor Palace. 

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

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

Nov. 12. New York. Dubai Business Forum-USA. The fourth international edition of the forum aims to introduce the American business community to the diverse opportunities created by the Dubai Economic Agenda. Venue TBA.

STRENGTHENING TIES

Saudi Arabia’s Investment Minister Khalid Al Falih wrapped up his trip to Damascus by pledging that the kingdom would plow $6.4 billion into the Syrian economy. Speaking at a business forum on Thursday, Al Falih called his visit “confirmation of the kingdom’s firm and supportive stance towards sisterly Syria” and said 47 separate deals were being signed. The investments included $2.9 billion for real estate and infrastructure projects and about $1.1 billion in telecommunications and information technology, Al Falih said. Among the businesses involved in the deals were Saudi Telecom Co. GO Telecom, digital security company Elm, cybersecurity firm Cipher, and Classera, an education technology company.

SAUDI SOCCER

For the first time, a Saudi soccer team has been acquired by foreign investors. The Saudi Pro League’s Al-Kholood club was bought by the Harburg Group, a business founded by American private equity investor Ben Harburg, for an undisclosed price. The sale to a foreign group represents a change in Saudi Arabia, which has invested heavily in European soccer and spent hundreds of millions of dollars poaching foreign players, including Portuguese star Cristiano Ronaldo. The kingdom’s Ministry of Sport announced two other soccer team acquisitions on Thursday: The Al-Zulfi club was sold to Riyadh-based Nojoom AlSalam Co. and Medina-based Al-Ansar was acquired by Awdah Al Biladi and his Sons Contracting Ltd.

Masdar: The Abu Dhabi green energy company and Spain’s Iberdrola announced the financial close on the 1.4 gigawatt East Anglia 3 offshore wind farm in U.K. waters, after securing $4.8  billion in project financing via a group of 23 banks and the Danish Export Credit Agency. It marks Masdar’s largest-ever financing facility and one of the biggest ever for offshore wind globally.

Masdar: Masdar City has signed an initial cooperation agreement with the Dubai Land Department which will allow companies operating in Masdar City’s freezones to buy freehold land plots and properties in Dubai. 

ADQ: AD Ports Group has officially opened its first international office in Beijing to lead commercial and investment activities across China and Asia.

Oman Investment Authority: OQ Exploration and Production announced it will repurchase 45 to 60 million shares from the Omani bourse starting August 6, 2025 until February 9, 2026, to help fund future expansion and boost its stock and financial performance.

💰 New Upgrade: Morocco will invest $3.7 billion over five years to enhance airport infrastructure, including expanding and modernizing airports in Marrakech, Agadir, Tangier, and Fez. 

⚓ Saltwater Diplomacy: PowerChina has secured a contract valued at $4 billion to build Iraq’s first large-scale seawater desalination plant in the southern city of Basra, in partnership with an Iraqi company, Reuters reports. 

💲 Tax Advantage: April, an Israeli startup that created a platform to streamline U.S. tax filing, raised $38 million in a Series B funding round led by QED Investors.

☢️ Atomic Alliance: Emirates Nuclear Energy Company signed a preliminary agreement in Washington with Westinghouse Electric Co. to explore deploying advanced nuclear solutions in the U.S., supporting the country’s efforts to quadruple nuclear power generation by 2050.

🛢️ Energy Expansion: Allrig, a Houston, Texas-based asset management firm that caters to the offshore oil drilling industry, said it will expand operations in Saudi Arabia with a new office in the eastern city of Al-Khobar.

🎶 Inflight Entertainment: Legendary composer Hans Zimmer is creating a new “sonic identity” for Qatar Airways, with the exclusive score to be used onboard and released as a full album via major streaming channels, The Peninsula reports.

🏭 Nuclear Countdown: Egypt plans to activate the first nuclear reactor at the El-Dabaa Nuclear Power Plant in the second half of 2028, with the remaining three units set to become operational by 2029, Egypt Today reports.

💳 Security Question: UAE banks will stop sending one-time passwords via SMS or email, in a move to boost security amid rising fraud cases, The National reports.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Minister of Defence and Deputy Prime Minister, launched the “Dubai Mallathon,” which will transform shopping malls into morning fitness hubs during the month of August to encourage healthy living.

Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of Ajman Executive Council, met Odonbaatar Shijeekhuu, Ambassador of Mongolia to the UAE, on Friday at the Emiri Court.

Mohammad Maktari, the regional CEO of Chinese electric vehicle maker NIO, writes for The National about the financial case for purchasing an EV.

Laurent Depolla, Middle East Sovereign Investment Fund Leader at PwC Middle East, authored an article on how sovereign wealth funds are pioneering the green energy transition in the Gulf by financing projects and enabling breakthrough innovation.

🤼 Lost Idol: Hulk Hogan, who died yesterday at the age of 71, captured the hearts and minds of millions of Arab wrestling fans, Faisal J. Abbas, Editor-in-Chief of Arab News, writes. As Hogan rose to fame in the 1980s, Saudi Arabia’s domestic Channel 1 began airing a weekly recorded WWF special with Arabic commentary. “Schoolchildren were allowed to stay up late, and living rooms erupted with excitement the moment Hogan’s entrance music blared,” Abbas writes. When the Gulf war broke out in 1990 and U.S. forces mobilized to liberate Kuwait from Iraqi occupation, Hogan’s battles against evil took on new meaning for many children in the Gulf, who saw the larger-than-life American as a real hero.

July 7-Aug. 24, Riyadh. Esports World Cup. A seven-week gaming extravaganza with a $70 million prize pot. Boulevard City.

July 19-27, Washington D.C.: Mubadala Citi DC Open. The annual tennis tournament with $2.4 million in prize money takes place at the William H.G. FitzGerald Tennis Center.

July 25-27, New York City: Abu Dhabi Calling. A multi-sensory, immersive exhibit promoting tourism to the UAE capital. Hudson Yards.

Aug. 23-24, Riyadh. New Global Sports Conference. Showcasing how esports can create new global opportunities. Four Seasons Hotel Riyadh.

August 29, Dubai. Sustainability Innovation Forum 2025. A forum for construction companies, entrepreneurs, hotel executives, and design leaders. Al Habtoor Palace. 

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

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

Nov. 12. New York. Dubai Business Forum-USA. The fourth international edition of the forum aims to introduce the American business community to the diverse opportunities created by the Dubai Economic Agenda. Venue TBA.

DAMASCUS DEALS

Syria expects nearly $6 billion in deals with Saudi Arabia to emerge from an investment conference in Damascus today. The fledgling Syrian government’s Information Minister Hamza Al Mustafa provided the figure at a news conference on Wednesday, exceeding the $4 billion in preliminary agreements predicted by Saudi officials. A delegation of 150 Saudi investors, executives and government leaders traveled to the Syrian capital for the forum, headed by Investment Minister Khaled Al Falih. Saudi Arabia is stepping in to provide financial backing and support political stability for the new Syrian government that overthrew former President Bashar Al Assad last December.

NEO BILLION

Wio Invest, the app-based platform backed by Abu Dhabi sovereign wealth fund ADQ, has surpassed $1 billion in assets under administration in less than two years, propelled by a new wave of digitally native and financially curious investors in the UAE. Wio Invest said it has seen more than $4 billion in order volume year-to-date. The so-called “neobroker” is now among the fastest-growing digital platforms globally and offers simplified access to global markets, ETFs and virtual assets via the Wio Personal app, which is run by related entity Wio Bank. The platform seamlessly integrates opportunities to invest in UAE ventures, including a tab for taking part in local market IPOs and a partnership with Abu Dhabi alternative investment manager Lunate offering the option to place recurring orders for Lunate Chimera ETFs. Customers have shown a strong interest in U.S. tech stocks and crypto.

International Holding Co.: Multiply Group, a unit of Abu Dhabi-owned IHC, has completed the acquisition of a 68% stake in Tendam, Spain’s second-largest apparel company at an enterprise valuation of about $1 billion.

G42: The UAE Central Bank and Presight, a big-data analytics company owned by G42, launched a joint venture that will provide AI-powered tech platforms to support the UAE’s financial market infrastructure.

Space42: The space tech firm backed by Abu Dhabi tech company G42, Mubadala and IHC, secured $695 million in financing to fund its Al Yah 4 and Al Yah 5 satellite program, which has a $5 billion government contract to expand national space capabilities.

DP World: the Dubai-owned port and logistics company said it opened an advanced chemical warehouse at the Port of Antwerp-Bruges, strengthening its role in Europe’s hazardous goods logistics market.

🤝 Defense Venture: EDGE and Istanbul-based Pavo Group launched KEY4, an Abu Dhabi-headquartered joint venture to develop advanced defense and security technologies.

🏢 Luxury Client: Arada has awarded a $185 million contract to China Tiesju Civil Engineering to construct the ultra-luxury Armani Beach Residences at Palm Jumeirah in Dubai. 

🩺 AI Diagnosis: Aidoc, an Israeli medical startup that uses artificial intelligence to provide faster imaging analysis, raised $150 million with backing from Nvidia.

🔧 Gulf Merger: Qatar-based energy solutions provider Al Mahhar Holding Company, through its subsidiary Petrotec, has acquired a 90% stake in Gulf Automation System.

📈 IPO Pipeline: Citi expects the UAE to launch up to five IPOs by year-end, including Dubizzle Group, Etihad Airways and 2PointZero, Rudy Saadi, the bank’s Head of MENA Equity Capital Markets, tells Zawya.

🏛️ Private Flip: Private equity firms are increasingly selling assets to themselves through so-called continuation funds to cash out investors whom they want to cut loose, raising questions about company valuations and governance, the Financial Times reports.

⛏️ Digging In: Saudi Arabia has shortlisted 31 companies to compete in round nine of its mining exploration tender, covering 24,423 square kilometers, as it advances plans to develop its mineral sector. 

🏦 Debt Justice: The UAE Ministry of Justice announced the creation of a bankruptcy court to settle financial disputes across the Emirates.

Sheikh Theyab bin Mohamed, Deputy Chairman of the UAE Presidential Court for Development and Fallen Heroes’ Affairs and Chairman of the International Humanitarian and Philanthropic Council, chaired the council’s second meeting on Thursday.

Prince Abdulaziz bin Salman, Saudi Arabia’s Minister of Energy, and Abdullah Alswaha, Minister of Communications and Information Technology, attended the Energy Ministry’s launch of the “Taqatech Accelerator” program in collaboration with the Garage Project incubator in Riyadh.

Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and CEO of ADNOC will be given the Distinguished Global Leadership Award by the Middle East Institute at a Washington event in March 2026.

Anand Joawn was named as Dow Jones General Manager for the Middle East, a new position created to lead the company’s expansion across the region.

Adnan Amin was elected as Chair-designate of the World Energy Council assuming the role alongside Mike Howard until the end of his term. Amin founded and led the Abu Dhabi-headquartered International Renewable Energy Agency between 2011 and 2019.

Klaus Schwab, founder of the annual World Economic Forum that takes place in Davos, Switzerland, was alleged in preliminary findings from an official WEF probe to have engaged in a pattern of workplace misconduct that included unauthorized spending by him and his wife, bullying behavior and inappropriate treatment of female staffers, The Wall Street Journal reports. Schwab broadly rejected the findings.

Amjad Masad, Chief Executive of Silicon Valley’s Replit, apologized for an incident where his company’s AI tool deleted the entire code base of software firm SaaStr, during a 12-day “vibe coding” experiment by CEO Jason Lemkin that was first reported in Fast Company.

🌖 Celestial Celebration: A rare total solar eclipse is set to darken the skies of the Middle East in two years’ time, with parts of Saudi Arabia, Yemen and Egypt expected to experience total darkness for six minutes on the afternoon of August 2. The dramatic event, to be witnessed by millions of people, will not occur again for 100 years. Luxor, the Nile city that hosts some of Egypt’s greatest historical sites, will be thrown into darkness for six minutes and 23 seconds, the longest eclipse visible from land this century, The National reports. In the UAE, Qatar, Bahrain and Oman a partial eclipse will be visible, with the moon covering around half of the sun and creating a crescent shape.

July 7-Aug. 24, Riyadh. Esports World Cup. A seven-week gaming extravaganza with a $70 million prize pot. Boulevard City.

July 19-27, Washington D.C.: Mubadala Citi DC Open. The annual tennis tournament with $2.4 million in prize money takes place at the William H.G. FitzGerald Tennis Center.

July 25-27, New York City: Abu Dhabi Calling. A multi-sensory, immersive exhibit promoting tourism to the UAE capital. Hudson Yards.

Aug. 23-24, Riyadh. New Global Sports Conference. Showcasing how esports can create new global opportunities. Four Seasons Hotel Riyadh.

August 29, Dubai. Sustainability Innovation Forum 2025. A forum for construction companies, entrepreneurs, hotel executives, and design leaders. Al Habtoor Palace. 

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

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

Nov. 12. New York. Dubai Business Forum-USA. The fourth international edition of the forum aims to introduce the American business community to the diverse opportunities created by the Dubai Economic Agenda. Venue TBA.

TORCH BID

Qatar has officially entered the race to host the 2036 Olympic and Paralympic Games. Sheikh Joaan bin Hamad Al-Thani, President of the Qatar Olympic Committee, said competing for the games will build on the country’s success as the first Middle Eastern nation to host the FIFA World Cup soccer championship in 2022. Having established prominence in international sports as a “central pillar of our national strategy,” Sheikh Joaan said Qatar already has 95% of the required infrastructure in place to become the first Middle East nation to host the Olympics. Also competing for the 2036 games are India, Turkey, Chile and Indonesia.

SHADY BUSINESS

U.S. tech giant Meta’s Ray-Ban smart glasses are likely to test Gulf privacy laws. The glasses, which hit the shelves of UAE eyewear retailers in recent weeks, have a camera embedded in the frame which can take photos and record video hands-free. While a small light indicates when the glasses are recording, this is unlikely to provide legal cover for users who record people while using the device in public spaces. Under UAE laws, it is illegal to film or photograph anyone without their explicit consent, regardless of intent or whether the material is shared. Penalties are severe, with up to six months imprisonment and fines of up to AED 500,000 ($136,147). “Users may not realise that simply walking through a crowded space or into a coffee shop while recording exposes them to legal liability,” Samuel Moore, a paralegal at BSA Law, told Arabian Gulf Business Insights.

Abu Dhabi Investment Authority: The sovereign wealth fund will invest $200 million for a 3% stake in Indian medical devices firm Meril, valuing the Gujarat-based surgical robotics and cardiovascular specialist at $6.6 billion.

Public Investment Fund: ACWA Power, which is owned by the Saudi sovereign wealth fund, signed agreements with several companies, including France’s TotalEnergies Renewables, Italy’s Zhero Europe and Germany’s EnBW, aimed at creating a green hydrogen and renewable energy export value chain between Saudi Arabia and Europe.

Kuwait Investment Authority: Kuwait’s Finance Minister Noura Al-Fassam submitted a formal proposal asking the cabinet to consider launching a new $165 billion investment company that would be funded by Islamic bonds and finance projects in energy, transportation and industry.

⚾ Fitness Surge: Shares in Saudi Arabia’s Sport Clubs Co. rose 24% in their market debut on Tuesday, as strong investor demand pushed the company’s valuation above $266 million.

🚂 Fast Track: Turkey has secured $2.8 billion in green funding from an international group led by Japan’s MUFG Bank for a railway link to Azerbaijan’s city of Nakhchivan.

🏗️ New Project: Egypt’s MIDAR and Saudi Arabia’s Sumou Investment signed a revenue-sharing deal to co-develop the $1.4 billion mixed-use Boulevard project in Mostakbal City, East Cairo.

🧯 Blazing Synergy: EHC Investment has announced the full acquisition of Tamouh Fire and Safety, a leading fire protection solutions provider in Abu Dhabi, through its safety division Emirates International Firefighting.

🌐 Human Element: Daylight Security, an Israeli startup that combines AI with human expertise to manage business security services, raised $7 million in seed funding, led by Bain Capital.

💊 Pharma Talks: Johnson & Johnson executives met with Egypt’s Drug Authority to explore expanding investments in the country’s pharmaceutical companies through innovation, training and improved access to advanced medical products.

📈 Gas Powered: Standard Chartered raised its 2026 growth forecast for Qatar to 5.5%, anticipating an increase in gas output and LNG exports, while maintaining its 2025 forecast at 4%.

🏢 New in Town: DWS Group, a German investment manager with $1.3 trillion assets under management plans to open its first Middle East office at Abu Dhabi’s ADGM later this year.

🚁 Big Boss: U.S.-listed Archer Aviation is hunting for a senior executive in Saudi Arabia as the kingdom intensifies its push to compete with the UAE in launching commercial electric air taxi services in the Gulf.

Sheikh Mohammed bin Rashid, Ruler of Dubai and UAE Vice President and Prime Minister, toured Mina Al Hamriya port in Deira on Tuesday to review progress on its development and approve a major expansion, including the construction of a 700-meter pier for larger ships.

Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of the emirate of Ajman and Chairman of the Ajman Executive Council, received U.S. Ambassador Martina Strong, who paid a visit as she prepares to leave her post in the UAE.

Ecuadorian President Daniel Noboa received Humaid Obaid Abushibs, President of the UAE Accountability Authority, as part of an official visit to the capital city of Quito.

Jeffrey Goh, CEO of Gulf Air Group, told The National that travel demand is rebounding from a dip in passenger volumes after Bahrain and other Gulf countries briefly closed their airspace in June because of the conflict with Iran. 

Raki Phillips, CEO of the Ras Al Khaimah Tourism Development Authority, who helped turn the Emirate into a development hotspot, is stepping down to join Accor as Regional President for its midscale & economy division in the Middle East, Africa and Turkey.

James Holder, who took over leadership of Citibank’s Middle East private banking operations this year, told Bloomberg the lender plans to hire private bankers to cover Dubai, Saudi Arabia, and Abu Dhabi.

⭐ Star Power: Lebanese singer Nancy Ajram has got serious staying power, building and maintaining an audience over more than 20 years. The National takes a look at how the pop star, who recently released breezy summer hit “Warana Eh,” has been able to stay relevant for so long, from consistency and knowing when to pivot, to producing albums for children.

July 7-Aug. 24, Riyadh. Esports World Cup. A seven-week gaming extravaganza with a $70 million prize pot. Boulevard City.

July 19-27, Washington D.C.: Mubadala Citi DC Open. The annual tennis tournament with $2.4 million in prize money takes place at the William H.G. FitzGerald Tennis Center.

Aug. 23-24, Riyadh. New Global Sports Conference. Showcasing how esports can create new global opportunities. Four Seasons Hotel Riyadh.

August 29, Dubai. Sustainability Innovation Forum 2025. A forum for construction companies, entrepreneurs, hotel executives, and design leaders. Al Habtoor Palace. 

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

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

Nov. 12. New York. Dubai Business Forum – USA. The fourth international edition of the forum aims to introduce the American business community to the diverse opportunities created by the Dubai Economic Agenda. Venue TBA.

PRECIOUS GEMS

Dubai-based jeweler Damas, which operates almost 150 stores across the Gulf, is being acquired by Titan, an Indian maker of fashion accessories. Under terms of the $283 million deal announced in Mumbai, Damas will sell a 67% stake in the company to Titan, which is a unit of Indian conglomerate Tata. Titan said it will make the acquisition through Signature Jewellery Holding, which is registered in the Dubai International Financial Centre. Meanwhile, the Financial Times reports on how China has become dominant in the market for lab-grown diamonds, using established trading hubs such as Dubai and Antwerp as intermediaries to retail stores.

GATE OPEN

Emirates Group has launched a global talent drive to support expansion, with plans to hire 17,300 people across 350 different roles this year. Recruits are being sought across Emirates airline and the dnata ground-handling unit, from cabin crew, pilots and engineers to IT, human resources and finance roles. The company, which already has a 121,000-strong workforce, will host open days and other recruitment events across 150 cities including the UAE, The National reports. Emirates airline posted its third consecutive year of record profits last year, with a post-tax profit of AED19.1billion ($5.2 billion) for the year ended in March. It paid out a generous 22-week bonus to eligible employees following the result.

Mubadala: Mubadala Investment Co. and AXA IM Prime are acquiring minority stakes in European private credit lender Hayfin Capital following its management buyout, Bloomberg reports.

ADQ: Abu Dhabi’s ADQ has completed its acquisition of Aramex, raising its combined stake, including shares belonging to AD Ports Group, to over 63%.

Qatar Investment Authority: The Qatari sovereign wealth fund will invest $500 million to increase its stake in Colombia’s Isagen energy company to 15%.

Qatar Investment Authority: Egypt and Qatar are in advanced talks on a deal involving a $4 billion initial investment from the QIA to build a tourist city in Ras Alam El-Rum on Egypt’s northwestern coast.

💵 Financial Renewal: Arabian Internet and Communications Services Co. has renewed its $400 million Islamic-compliant credit facilities agreement with Saudi National Bank.

🤝 New Deal: Egypt and Germany are deepening economic ties with a focus on innovative financing and private investment, activating a new $109 million tranche under a debt-for-development swap program by mid-2026.

₿ Digital Front: Apollo Global Management, the $785 billion asset manager, has partnered with Securitize to offer blockchain-based access to a private credit strategy, attracting over $100 million since January, Bloomberg reports.

🔐 Cyber Sale: Cybersecurity giant Palo Alto Networks is considering the acquisition of SentinelOne, whose stock price has risen 14% over the last 10 days, Globes reports. The firms were both founded by Israelis.

📈 Packaged Deal: Saudi entrepreneur Omran Mohammed AlOmran will lead Egypt’s National Printing IPO by acquiring 10.6 million shares in the packaging company in a private deal.

💰 Invest Egypt: Egyptian Prime Minister Mostafa Madbouly has instructed his government to prepare investment opportunities for U.S. companies, aiming to boost economic ties.

🔎 Review Time: Saudi Arabia’s Rawabi Holding is working with Alvarez & Marsal on a strategic review to explore options for boosting liquidity, Bloomberg reports.

🎮 Video Reversal: Grand Theft Auto 5, the best-selling video game in a series originally blocked in the UAE and Saudi Arabia, will now be sold in both countries. Purchasers must be at least 21 years old.

🇶🇦 Olympic Host: Qatar confirmed it’s taking part in discussions with the International Olympic Committee over the election process for the new host city for the 2036 Olympic and Paralympic Games.

Sheikh Mohammed bin Rashid, UAE Vice President and Prime Minister and Ruler of Dubai, was spotted riding Dubai’s tram on Tuesday.

Sheikh Khalifa bin Tahnoon, Chairman of the Abu Dhabi Crown Prince Court, inaugurated the 6th International Mixed Martial Arts Federation Youth World Championships, which is being held for the first time in the Al Ain region.  

Prince Abdulaziz bin Saud, Saudi Arabia’s Minister of Interior, met with Yvette Cooper, the U.K.’s Secretary of State for the Home Department, in London on Monday. 

Mohammed Al Jadaan, Saudi Arabia’s Finance Minister, said during his address at the third G20 Finance Ministers and Central Bank Governors Meeting, hosted in South Africa, that there is an urgent need to reform the global trade system, warning that shrinking fiscal space and rising financing demands are driving up borrowing costs.

Gautam Adani, the billionaire whose ports, power and cement businesses have made him Asia’s second richest person is now building a multi-billion-dollar real estate empire that’s reshaping India’s property market, including an ambitious plan to turn one of the world’s biggest slums into a modern Mumbai township, Bloomberg reports.

Mohammed Bin Saleh Al-Sada, Qatar’s former Energy Minister, was reelected as Chairman of Russia’s largest oil producer Rosneft.

♻️ Trash to Treasure: After a lifetime of salvaging scrap metal from Jeddah’s streets to cut, roll and twist into new sculptural forms, Saudi artist Mishal Al-Amri is staging his first solo exhibition. Titled “The Neglected,” the show reflects the artist’s passion for transforming discarded metal into art. Al-Amri, 65, hopes to inspire Saudis to see beauty in what others throw away.

July 7-Aug. 24, Riyadh. Esports World Cup. A seven-week gaming extravaganza with a $70 million prize pot. Boulevard City.

July 19-27, Washington D.C.: Mubadala Citi DC Open. The annual tennis tournament with $2.4 million in prize money takes place at the William H.G. FitzGerald Tennis Center.

Aug. 23-24, Riyadh. New Global Sports Conference. Showcasing how esports can create new global opportunities. Four Seasons Hotel Riyadh.

August 29, Dubai. Sustainability Innovation Forum 2025. A forum for construction companies, entrepreneurs, hotel executives, and design leaders. Al Habtoor Palace. 

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

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

Nov. 12. New York. Dubai Business Forum – USA. The fourth international edition of the forum aims to introduce the American business community to the diverse opportunities created by the Dubai Economic Agenda. Venue TBA.

BURJ BUILDER

Mohamed Alabbar, the Emirati developer behind Dubai’s Burj Khalifa, the world’s tallest building, is releasing a memoir. The 68-year-old founder of Emaar Properties said on Instagram that he wrote “For the Love of the Craft” to share his reflections as a family man and proud citizen of the UAE. Alabbar, a longtime advisor to the UAE leadership, established Emaar in 1997. The company built the Dubai Mall – then the world’s biggest mall by total area – in 2009 and opened the adjacent 162-story Burj Khalifa the following year. Alabbar is also Chairman of international property developer Eagle Hills and e-commerce platform Noon.

DEEP CUTS

Saudi Arabia is weighing significant cuts to the workforce at NEOM and could relocate more than 1,000 jobs to Riyadh, according to a media report. NEOM, the Public Investment Fund’s umbrella company for a host of megaprojects in northwestern Saudi Arabia, is trying to get a grip on ballooning costs and improve oversight of the vast development. Staff relocated from the construction site would lose remote location benefits, including housing and meals, Semafor reports. NEOM employs around 5,000 full-time staff, most of whom are located on site, where they are provided with cabins, round-the-clock canteens, gyms and schools. Last week it emerged that the PIF had asked consulting firms to review NEOM’s banner construction project, The Line. 

Mubadala: Dubai-based restaurant payments platform Qlub has raised $30 million from investors including Mubadala Investment Co., Bloomberg reports.

Public Investment Fund: PIF-owned entertainment mega project Qiddiya has unveiled an 18-hole golf course designed by retired British pro Nick Faldo, opening to the public in 2026, and announced that it has become a global partner of the Faldo Series, a youth golfing program.

Qatar Investment Authority: Italian prosecutors are investigating allegations of corruption in Milan’s real estate industry, including at the city’s redeveloped Porta Nuova district, which is backed by the QIA, Bloomberg reports.

Oman Investment Authority: Oman’s OQ is investing $328 million in strategic fuel storage hubs to enhance its role in fuel logistics and ensure supply security amid growing demand, the Ministry of Energy and Minerals said.

🛍️ Retail Expansion: The UAE’s Al-Futtaim Group is acquiring a 49.95% stake in Saudi Arabia’s Cenomi Retail for $667 million, marking its biggest international deal and strengthening its regional footprint in fashion, electronics, and homeware.

💰 Financial Boost: Al Baraka Bank-Egypt signed two agreements worth $50 million each with the Islamic Corporation for the Insurance of Investment and Export Credit to enhance its Islamic trade finance capabilities.

💵 Housing Fund: Sharjah-based Arada Developments is planning an Islamic bond issuance of up to $500 million this week to fund land acquisitions.

🩺 Women’s Health: Escala Medical, an Israeli startup developing innovative treatments for women, raised $4.5 million via a Series A funding round led by the European Innovation Council Fund.

⚽ Goal Oriented: Morocco expects to create over 100,000 jobs annually and boost GDP by 1.7% by co-hosting the 2030 FIFA World Cup.

🚢 Sailing Through: Most cruise passengers remain undeterred by regional tensions, with the sector continuing to boost UAE tourism, The National reports.

⚓ New Ports: South Korea’s HD Hyundai Heavy Industries is seeking a 30-year lease to operate Morocco’s planned Casablanca shipyard, set to be Africa’s largest.

👓 Coastal Luxury: Jeddah’s Red Sea coast has rapidly evolved from a historic trading port into a major center for luxury tourism and marine leisure, Arab News reports.

UAE President Sheikh Mohamed bin Zayed, Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai, and Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, sent congratulatory messages to King Philippe of Belgium and Prime Minister Bart De Wever for their country’s National Day.

Saudi Prince Al-Waleed bin Khalid bin Talal, known as the “Sleeping Prince” after remaining in a coma for nearly 20 years following a car crash, has died at the age of 47. Leaders across the Gulf sent messages of condolences to Saudi’s King Salman.

Turkey’s President Recep Tayyip Erdogan said Germany and Britain took a positive stance on the sale of Eurofighter jets to Turkey, Reuters reports.

Mustafa Suleyman, CEO of Microsoft AI, told The Wall Street Journal that he was more focused on solving social problems than racing for superintelligence.

Howard Lutnick, the U.S. Commerce Secretary and close friend of President Donald Trump who is known as “dealmaker in chief” in negotiating increased tariffs with U.S. trade partners, is profiled in the New Yorker.

Martina Strong, U.S. Ambassador to the UAE, visited the Liwa Dates Festival in Abu Dhabi’s Al Dhafra Region.

🌴 Ancient Revival: Al Ain Museum is undergoing a major transformation by UAE-based Dabbagh Architects, with the latest iteration of the design inspired by the discovery of a 2,000-year-old tomb during initial excavation of the site. The museum, which sits next to the Unesco World Heritage-listed Al Ain Oasis, about 160 kilometers east of the capital city of Abu Dhabi, will offer an immersive ‘live archaeology’ experience when it reopens, The National reports. 

July 7-Aug. 24, Riyadh. Esports World Cup. A seven-week gaming extravaganza with a $70 million prize pot. Boulevard City.

Aug. 23-24, Riyadh. New Global Sports Conference. Showcasing how esports can create new global opportunities. Four Seasons Hotel Riyadh.

August 29, Dubai. Sustainability Innovation Forum 2025. A forum for construction companies, entrepreneurs, hotel executives, and design leaders. Al Habtoor Palace. 

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

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

GAS ROCKS

U.S. asset manager BlackRock and partners are close to reaching a deal to invest $10 billion in infrastructure tied to Saudi Aramco’s massive $100 billion Jafurah shale gas project. This comes as Aramco looks to monetize assets amid falling oil prices while still pushing ahead with major investments, Reuters reports. The deal would likely mirror past “lease and lease-back” arrangements, which raised nearly $28 billion and let Aramco retain control while paying usage tariffs. Jafurah is key to Aramco’s goal of boosting gas output by 60% by 2030, transforming the kingdom into a global gas powerhouse.

ROBO ALLIANCE

Lucid Motors, the U.S. electric vehicle maker backed by Saudi Arabia’s Public Investment Fund, has teamed up with Uber and robotics company Nuro to launch a global robotaxi program. Uber plans to make “multi-hundred million dollar investments” in Lucid and Nuro to make the taxis and will order at least 20,000 Lucid vehicles over the next six years, The National reports. The first service will be launched in the U.S. late next year. The announcement is a major boost for Lucid and its Saudi backer, which has poured billions into the California company. The first Lucid-Nuro robotaxi prototype is already being tested in Las Vegas. The news comes after Uber and China’s Baidu said on Tuesday that they would launch a robotaxi service in the UAE and elsewhere in the Middle East and Asia.

Public Investment Fund: Diriyah Company signed a $1.5 billion deal with China Harbour Engineering Company to develop the Arena district, part of Saudi Arabia’s historic Diriyah project.

Masdar: The Egyptian cabinet granted a “golden license” to UAE sustainable energy company Masdar for a major wind power project in the Gulf of Suez, enabling it to purchase or lease land, operate and manage projects with a single approval.

Mayhoola: Rachid Mohamed Rachid, the head of Mayhoola, denied a report suggesting the Qatar royal family-backed fund and French luxury group Kering were considering jointly selling Italian luxury fashion house Valentino, Reuters reports. Gucci-owner Kering bought 30% of Valentino in 2023 for $1.7 billion and said it would purchase the remaining 70% stake from Mayhoola by 2028, just before the luxury sector entered a slowdown, leaving Kering heavily indebted.

🇪🇺 Euro Deal: European Union member states have approved the launch of trade negotiations with GCC countries, with talks to begin as soon as possible, Bloomberg reports.

💲 Tourism Surge: Jordan’s tourism revenues grew 12% to $3.7 billion in the first half of 2025, boosted by increased arrivals from Asia and Europe.

🚆 Blue Line: A consortium of Turkish and Chinese companies, including Turkey’s Mapa Group and Limak and China’s state-owned CRRC, secured $1.1 billion in green financing from Emirates NBD to develop the Dubai Metro Blue Line project.

💵 Startup Support: VentureIsrael raised $25 million for its second fund, focusing on early-stage startups in fields including cybersecurity, AI infrastructure, digital health and quantum computing.

⛽ Oil Plan: Iraq approved a plan for the semi-autonomous Kurdish region to transfer oil to Baghdad, paving the way to restart exports that have been suspended for over two years, Bloomberg reports.

🏗️ Developing Expo: Bechtel, the U.S. engineering and construction giant, was appointed as the project management consultant for Expo 2030 in Riyadh.

🏡 Home Crunch: Turkish citizens are finding it increasingly challenging to secure affordable housing as property prices and rents in Istanbul are rising, a report on living costs shows.

🤝 China Bound: Around 60% of Middle Eastern sovereign wealth funds plan to boost investments in Chinese assets over the next five years, while the remaining 40% will maintain current levels, according to a study by Invesco.

📈 Success Round: Saudi Arabia’s Naf Company for Feed Industry will list on the Nomu market next week after its IPO was 111% oversubscribed.

Saudi Crown Prince Mohammed bin Salman received a phone call from Syrian President Ahmed Al-Sharaa on Thursday to discuss recent measures taken in Syria, the Saudi Press Agency reported.

Prince Faisal bin Farhan, Saudi Arabia’s Minister of Foreign Affairs, held a phone call on Thursday with U.S. Secretary of State Marco Rubio.

OpenAI CEO Sam Altman’s success in replacing Elon Musk as U.S. President Donald Trump’s newest AI buddy, including OpenAI’s partnership with Abu Dhabi’s G42, is explored by The Wall Street Journal.

Karen Elliott House, former publisher of the Wall Street Journal, discusses her new book on Saudi Crown Prince Mohammed bin Salman, “The Man Who Would Be King,” in a recorded session with the Atlantic Council.

Pierre Santoni, Parsons Corp.’s EMEA President for Infrastructure, talked to The National about the complexities of building the Dubai Metro’s new Blue Line.

📺 Dad’s the Word: Netflix’s latest Arabic-language original series “Catalog” turns its attention to fatherhood, with Egyptian actor Mohamed Farrag playing the role of a widowed father who has to learn quickly how to be a loving dad. Farrag’s character, Youssef, quickly turns to YouTube videos produced by his late wife, who was a parenting influencer. “This series is about love – how to love your kids and how to make them love you. And it’s all about becoming involved in their problems, their day to day,” Farrag tells The National.

July 7-Aug. 24, Riyadh. Esports World Cup. A seven-week gaming extravaganza with a $70 million prize pot. Boulevard City.

Aug. 23-24, Riyadh. New Global Sports Conference. Showcasing how esports can create new global opportunities. Four Seasons Hotel Riyadh.

August 29, Dubai. Sustainability Innovation Forum 2025. A forum for construction companies, entrepreneurs, hotel executives, and design leaders. Al Habtoor Palace. 

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

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

SAUDI SERVERS

Elon Musk’s AI startup xAI is negotiating to lease data center capacity in Saudi Arabia, planning to tap the kingdom’s cheap energy and political support as it rapidly scales its infrastructure footprint. xAI is in early talks with two potential partners: Humain, a Saudi-backed firm offering several gigawatts of future capacity, and another company developing a more readily available 200-megawatt facility, Bloomberg reports. While Humain’s proposal is ambitious, it remains years away as the company has yet to begin construction, the news agency added. Musk and xAI recently secured $10 billion in funding, with Musk declaring on X that the startup has “plenty of capital.” However, the details of how and where that capital will be deployed are still being finalized.

LONG GAME

Saudi Arabia has “a lot of patient capital” when it comes to developing its games industry, according to Prince Faisal bin Bandar Al Saud, the Chairman of the Saudi Esports Federation. “A lot of people tell me we notice a lot of the investment you’re doing in esports, but we don’t see a lot of the investments you’re making in gaming,” Prince Faisal told Arabian Business Gulf Insights. “It’s because to build a games industry takes five to 10 years.” The kingdom, which is currently hosting the Esports World Cup in Riyadh with a record-breaking $71.5 million prize pool, has earmarked $38 billion from the Public Investment Fund for building out the industry via its homegrown Savvy Games Group. 

ADQ: The Abu Dhabi sovereign wealth fund signed a preliminary agreement with Turkey’s Trendyol Group, Baykar CEO Haluk Bayraktar, and Ant International to explore launching a joint fintech platform in Turkey offering digital financial services to individuals and small businesses.

Syria: Syria may soon have a sovereign wealth fund, after President Ahmad Al-Sharaa issued a series of decisions last week revamping the war-torn country’s investment environment.

💰 Loan Help: Saudi Middle East Specialized Cables Company announced that its subsidiary, MESC LLC, secured a $32.7 million credit facility from First Abu Dhabi Bank to finance working capital, bank guarantees and capital expenditures.

⛏️ Mining Front: Saudi Arabia’s mining reforms have attracted $32 billion in investments as the sector aims to boost its GDP contribution.

💵 SME Report: RUWAD, part of the Sharjah Economic Development Department, reported funding 13 projects worth approximately $779,000 and adding 449 new projects to its network in its 2024 annual report.

📈 Card Investment: Israeli carrier Israir is buying a 20% stake in credit card company Isracard from retailer Rami Levy and Isracard itself, diversifying revenue streams beyond aviation as part of its growth strategy.

 🖥️ Chip Delay: Some Trump administration officials are holding up efforts to finalize a landmark agreement that would open the door to the UAE buying billions of dollars in Nvidia’s cutting-edge artificial-intelligence chips, due to national-security concerns, the Wall Street Journal reports.

🚀 Courier Takeoff: Emirates Courier Express is expanding operations to Australia, offering direct package deliveries to Brisbane, Melbourne, Perth and Sydney, with 70 weekly flights to boost regional logistics connectivity.

🚂 India Tracks: DP World, Deendayal Port Authority and Nevomo signed a preliminary agreement to explore autonomous magnetic rail freight in India.

🛩️ Africa Link: Ethiopian Airlines launched passenger flights to Abu Dhabi, strengthening its Middle East network and enhancing Gulf connectivity as it continues expanding international routes from Addis Ababa.

🌴 Chasing Deals: Kenya’s largest lender, Equity Group Holdings, is preparing to open an office in the UAE later this year to benefit from growing trade and investment between the Middle East and Africa, Bloomberg reports.

UAE President Sheikh Mohamed bin Zayed concluded his state visit to Turkey on Wednesday night after witnessing the signing of several agreements between the two countries alongside Turkish President Recep Tayyip Erdoğan.

Sheikh Mohamed then flew to Albania, where he held talks with Prime Minister Edi Rama, before continuing on to Serbia on Thursday, where he was greeted by President Aleksandar Vučić at the airport. Among those traveling in the delegation to Albania were UAE Foreign Minister Abdullah bin Zayed, Mubadala CEO Khaldoon Al Mubarak and Eagle Hills Chairman Mohamed Alabbar. Al Mubarak and Alabbar also went to Serbia.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, attended Abu Dhabi Summer Sports at ADNEC on Wednesday and participated in a friendly volleyball match.

Sheikh Maktoum bin Mohammed, UAE Deputy Prime Minister and Minister of Finance and First Deputy Ruler of Dubai, announced the launch of the UAE 2027-2029 budget cycle, with a focus on sustainability and AI. 

Sheikh Hamdan bin Mohammed, UAE Deputy Prime Minister and Minister of Defence and Crown Prince of Dubai, introduced a new classification system to indicate when artificial intelligence has been used in research and publications.

Akis Evangelidis, Co-founder of British tech company Nothing, was on hand for the regional launch of the company’s new Nothing Phone in partnership with Creators HQ at Dubai’s Museum of the Future on Wednesday. Also at the event were Rishi Kishor Gupta, Nothing Regional Director for the Middle East and Africa; Alia Al Hammadi, Deputy Chairperson of the UAE Government Media Office and CEO of the 1 Billion Followers Summit; and Abdulaziz AlJaziri, Deputy CEO of the Dubai Future Foundation. 

Mansoor Jaffar, CEO at ADGM Academy and Research Centre, and Mohammed Abdulmalek, Head of the Middle East at PGIM, the global investment management business of Prudential Financial, launched the RealAssetX Abu Dhabi Innovation Centre on Wednesday. The innovation lab, dedicated to advancing sustainable technology and artificial intelligence within the real asset industry, will open in September at the ADGM Academy offices.

🍽️ Taste of Home: Saudi-owned cafes and restaurants are making their mark in London, counting on the growing number of expats and visitors from the Gulf feeling a little homesick in the U.K. capital. Among them are Somewhere Cafe, an Emirati-Saudi partnership which reimagines nostalgic childhood dishes, which has set up shop at the ever-popular Harrods department store. Another favorite is Hijazi Corner, serving up traditional home recipes from Jeddah’s historic Al-Balad district, where Chef Ayman Al-Zubaidi grew up.

July 7-Aug. 24, Riyadh. Esports World Cup. A seven-week gaming extravaganza with a $70 million prize pot. Boulevard City.

Aug. 23-24, Riyadh. New Global Sports Conference. Showcasing how esports can create new global opportunities. Four Seasons Hotel Riyadh.

August 29, Dubai. Sustainability Innovation Forum 2025. A forum for construction companies, entrepreneurs, hotel executives, and design leaders. Al Habtoor Palace. 

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

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