The Daily Circuit: UAE climate confab kicks off + Trump-branded Saudi villages
In today’s Daily Circuit, we’re reporting on Dar Global’s Trump-branded luxury projects in Riyadh and Jeddah, prospects for a $10 billion bounty from new foreign investment in the Saudi stock market, the 74% jump in last year’s venture capital funding for Mideast startups, and Qatar’s efforts to host the first FIFA World Cup tournament for women’s soccer. But first, climate warriors flock to Abu Dhabi.
The Trump administration’s retreat from U.S. global climate commitments is forcing an Abu Dhabi-based global energy organization to seek cash from corporate donors.
The International Renewable Energy Agency will solicit help from businesses as well as additional donations from member countries to patch up its budget, Director-General Francesco La Camera told reporters at its 16th assembly in the UAE capital on Sunday. The meeting is the first in a series of environmental conferences marking Abu Dhabi Sustainability Week.
The U.S. contributes about 22% of IRENA’s budget and there are doubts over whether it will fulfill its obligation to give one year’s notice before ceasing payments.
“This is what politics brings,” La Camera said. “We have to accept it and strive for the best.”
The Trump administration announced last week that it was withdrawing from 66 global organizations, including the United Nations Framework Convention on Climate Change, that the President said were “contrary to the interests of the United States.”
Abu Dhabi houses IRENA in a custom-built sustainable office complex on the edge of its futuristic green community, Masdar City, and is a substantial donor, alongside Germany and other European nations. Hosting the organization has helped burnish the UAE’s reputation for leadership in the energy transition, despite being among the world’s biggest oil producers.
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📰 Developing Stories
OPEN DOORS
Saudi Arabia’s plan to open its stock exchange to all foreign investors next month could unlock as much as $10 billion in foreign investment, Arab News reports. The change removes long-standing rules that limited access by foreigners mainly to large institutions. Regulators say the changes will make it easier for global funds and individuals to buy Saudi shares directly. Hamza Dweik, head of trading at Saxo Bank for the Middle East and North Africa, told the newspaper that the move will deepen liquidity in a market and is expected to increase Saudi Arabia’s weighting in global emerging-market indices to 4.7% from 3.2%.
VC BOOM
Venture capital funding in the Middle East jumped 74% last year, hitting a record as startups raised about $3.8 billion across nearly 700 deals. Much of the growth came from foreign investors, with Saudi Arabia and the UAE drawing the largest share of the money, Bloomberg reports, citing data from Magnitt. The surge came even as venture funding stayed weak or slowed in many other regions. Investors have been drawn by government-backed tech pushes, large domestic markets and a growing pipeline of local startups.
💲 Sovereign Circuit
Abu Dhabi Investment Authority: Shares of Chinese AI firm MiniMax, backed by ADIA, more than doubled on their Hong Kong debut, boosting the company’s value to about $14 billion.
Masdar: Abu Dhabi Future Energy Company Masdar signed its first power purchase agreement in Angola for the 150-megawatt Quipungo solar project, part of the wider 500-megawatt Project Royal Sable, on the sidelines of Abu Dhabi Sustainability Week.
Public Investment Fund: Saudi Arabia’s PIF-backed Ayar First Investment Co., invested in four major Japanese gaming firms – Capcom, Bandai Namco, Nexon, and Koei Tecmo.
ADQ: Etihad Airways, which is owned by the Abu Dhabi sovereign wealth fund, carried 22.4 million passengers in 2025, a 21% increase from the previous year.
Mubadala: Elena Rybakina, the 2022 Wimbledon champion, will headline the Mubadala Abu Dhabi Open when the event kicks off at the end of this month, The National reports.
↪↩ Closing Circuit
🏢 Trump Towns: Saudi developer Dar Global said it will team up with the Trump Organization on $10 billion of luxury residential, hotel and golf course developments in Riyadh and Jeddah.
🏡 Millionaire Homes: Dubai set a record for luxury home sales last year, with 500 sales above $10 million, totalling more than $9 billion, according to Knight Frank.
🌀 New Energy: Egypt signed $1.8 billion in renewable energy deals, including contracts with Norwegian firm Scatec and China’s Sungrow.
💶 Copper Funds: Oman secured $400 million in financing for the Mazoon Copper Project, the country’s largest copper mining development, led by Qatar-based Ahlibank.
💰 Flight Money: Kuwait’s low-cost airline Jazeera Airways has secured new loans and renewed deals with local banks for up to $152 million.
🗣 Circuit Chatter
🌍 Tourist Hotspots: Morocco and Egypt each drew nearly 20 million visitors in 2025 as expanded air links and new attractions such as the Grand Egyptian Museum made them Africa’s most popular destinations.
⚽ Trophy Hunting: Qatar is in talks with FIFA to host the inaugural Women’s Club World Cup in January 2028, as part of its continued pursuit of major football events following the 2022 men’s World Cup.
🖥️ Tech Alliance: Qatar and the UAE are set to join a U.S.-led initiative to secure and diversify semiconductor and AI supply chains, expanding what backers call “Pax Silica” to foster cooperation among Middle Eastern and allied partners.
💵 FDI Surge: Foreign direct investment into Jordan rose 27% in 2025 to nearly $2.1 billion, with Gulf states, led by Saudi Arabia, accounting for almost a third of the inflows.
✈️ Clear Skies: Airlines from the UAE and Qatar resumed flights to Iran on Sunday after a two-day suspension, with Emirates and flydubai services to Tehran and other cities operating on schedule.
🌍 Power Circuit
Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister, and Ruler of Dubai, attended the fourth edition of the 1 Billion Followers Summit, the emirate’s gathering dedicated to the “content creation” economy.
Oman’s Sultan Haitham bin Tariq has issued a number of decrees, in celebration of the anniversary of his accession, to support key social and economic initiatives.
Sheikh Mohammed bin Abdulrahman, Qatar’s Prime Minister and Minister of Foreign Affairs, met with Ben Black, CEO of the U.S. International Development Finance Corporation in Qatar on Monday. The Qatari Prime Minister held a phone call with Anita Anand, Canada’s Minister of Foreign Affairs, on Sunday.
Sheikh Hazza bin Zayed, Ruler’s Representative in Al Ain Region, visited Al Sarooj Park on Monday to review its facilities, following a redevelopment.
➿ On the Circuit
Ursula von der Leyen, EU President, said on Friday during a visit to Damascus that the EU will grant Syria around 620 million euros ($722 million) this year and next for post-war recovery, bilateral support and humanitarian aid.
Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC, chaired a meeting of the UAE-France High-Level Business Council in Abu Dhabi. Also attending were Samia Bouazza, CEO at 2PointZero Group, Mohamed Hesham, CEO of ePointZero, and Peter Abraam, Chief Strategy and Growth Officer at IHC.
Daisy Ho, HSBC Asset Management’s CEO for Asia and the Middle East, told Bloomberg TV that the bank has a long-term commitment in the Middle East, announcing its asset management arm has been given the green light to open a branch in the UAE.
Mansoor Rashid Al-Khater was appointed CEO of the Qatar Financial Centre, effective Jan. 11, succeeding Yousuf Mohamed Al-Jaida.
Hasan Hadi, an Iraqi director, was nominated by the Directors Guild of America Awards nomination for Outstanding Directorial Achievement in a First-Time Theatrical Feature Film for his debut, “The President’s Cake.”
Lara Trump, daughter-in-law of U.S. President Donald Trump and a political commentator, attended the 1 Billion Followers Summit in Abu Dhabi, where she was interviewed by The National on stage.
🎶 Culture Circuit
🤖 Haunted Doll: Tunisian filmmaker Zoubeir Jlassi was awarded the $1 million AI Film Award at Dubai’s 1 Billion Followers Summit for his submission “Lilly”. The award, given in partnership with Google Gemini, recognizes films that are at least 70% produced using generative AI tools. The winning film follows the redemptive story of a man who commits a hit-and-run accident and is then haunted by a doll that was lodged in his car bumper.
📷 Photo of the Day
📅 Circuit Calendar
Jan. 11-15, Abu Dhabi. Abu Dhabi Sustainability Week. With the theme “The Nexus of Next: All Systems Go,” ADSW will connect ambition with action across innovation, finance, and people, showcasing how the world can move forward with confidence. ADNEC.
Jan. 12-14, Dubai. Intersec. Billed as the world’s premier event for security, safety, and fire protection. Dubai World Trade Center.
Jan. 12-15, Dubai. Dubai International Project Management Forum. Bringing together global leaders, policymakers, and innovators to explore how collaboration, innovation, and sustainability can unite diverse communities. Madinat Jumeirah.
Jan. 13-15, Riyadh. Future Minerals Forum. The conference aims to hold conversations among governments, investors, and innovators to secure the minerals essential for a sustainable, tech-enabled future. King AbdelAziz International Conference Center.
Jan. 13-15, Abu Dhabi. World Future Energy Summit. The annual event brings in policymakers and industry leaders to discuss the challenges of working towards net zero. ADNEC.
Jan. 18-21, Riyadh. Big5 Construct Saudi. Latest trends and opportunities among construction companies operating in KSA. Riyadh Front Exhibition & Conference Center located at ROSHN Front.
Jan. 20-21, Dubai. 2026 BAFT MENA Forum. The event brings the region’s senior executives, influencers and industry experts to explore the forces redefining MENA’s financial ecosystem. Embassy Suites by Hilton Dubai Business Bay.
Jan. 20-22, Abu Dhabi. UMEX 2026. The Unmanned Systems Exhibitions and Conference showcases the latest advances in autonomous systems, robotics, artificial intelligence, and training simulation. ADNEC.
Jan.26-27, Riyadh. Super Return. A major private equity & venture capital conference held in Riyadh, Saudi Arabia.The Fairmont Hotel.
Jan. 26-28, Riyadh. Saudi Franchise Expo. The exhibition brings local and international businesses that want to create franchising companies into the kingdom. The Arena Riyadh Venue for Exhibitions, Riyadh.
Jan. 26-30, Dubai. Gulf Food. The world’s largest food and beverage industry event. Dubai World Trade Centre & Dubai Exhibition Centre.
Jan.29, Dubai. The Great Marketing & Business Minds. In this 4th edition, the event brings the most influential marketing and business leaders for a deep dive into performance-driven marketing, data integration, and the evolving accountability of brand leadership. Pullman Dubai Downtown.
Feb 1-6, Dubai. Dubai Fashion Week. The event showcases the latest collections by global and regional designers and positions Dubai as a major creative hub on the global fashion calendar alongside fashion capitals like New York, London, Milan and Paris. Dubai Design District.
Feb. 1-4, Doha. Web Summit Qatar. Connecting a new generation of founders in the Middle East to investors, journalists and more around the world. Doha Exhibition and Convention Center.
Feb. 2-5, Doha. LNG2026. The 21st International Conference & Exhibition on Liquefied Natural Gas. Qatar National Convention Center.
Feb. 3-5, Dubai. World Government Summit. Brings together heads of state, policy makers, top corporate executives to debate global priorities. Madinat Jumeirah.
Feb. 4-5, Dubai. PropTech Connect Middle East. The Dubai Land Department will host the first regional edition of the real estate technology event. Grand Hyatt Dubai.
Feb. 10-11, Abu Dhabi. Top Advisors & Investors Summit. The event will convene the region’s foremost advisors, financiers, and investors in the UAE capital. TBC
Feb.12-13, Riyadh. PIF Private Sector Forum. The event, in its third edition, aims to support the Saudi Public Investment Fund’s Private Sector Engagement Strategic Initiative. King AbdelAziz International Conference Center.
