SHIP SHOPPING

After attacks on at least 16 of its ships over the past six months of conflict with Iran and Yemen’s Houthis, ADNOC is making a major investment to enlarge its fleet and move more of its energy supplies around the world. The UAE national oil company’s shipping arm agreed to pay $444 million for two LNG carriers, bringing its vessel purchases this year to $2.7 billion, the company said. Owning ships has become a strategic advantage for ADNOC as attacks in the Strait of Hormuz and the Red Sea disrupt traffic and send freight rates soaring. The company also plans to boost oil output and natural gas production after having quit OPEC in May.

CLONED STAFF

Saudi Arabia’s Aramco Ventures co-led a $20 million seed round for Twin1 AI, which creates digital replicas of employees to answer questions, draft messages and handle routine workplace tasks. The California-based company’s platform is designed to replicate human judgment and communication styles through email, Slack and Microsoft Teams. Twin1 AI said it’s targeting sectors including banking, legal and energy. Aramco Ventures is an investment arm of Saudi Aramco, the world’s biggest oil exporter.

Public Investment Fund: Microsoft will distribute Humain’s Saudi-developed Allam Arabic AI model globally, giving companies and governments access to technology designed for more than 400 million Arabic speakers.

TAQA: Abu Dhabi National Energy Company will delist all of its shares from the Abu Dhabi Securities Exchange following its acquisition by Abu Dhabi Power Corporation.

ADQ: ADX-listed AD Ports said International Securities has been appointed to help manage ADQ’s voluntary cash offer, joining several other banks and financial firms involved in the deal.

🎮 Game Fund: Saudi Arabia’s National Development Fund approved $112 million in financing for 82 gaming and esports entities across the kingdom.

👥 Fintech Unicorn: Dubai’s Fasset fintech startup has reached a $1 billion valuation after raising $68 million in a Series C round led by Japan’s SBI Group, becoming the region’s latest unicorn.

✈️ Slower Movement: Dubai International Airport’s passenger traffic fell 31% to 31.5 million in the first half of 2026 as the Iran war disrupted travel.

⚛️ Nuclear Option: U.S. President Donald Trump submitted the civil nuclear agreement to Congress that he negotiated with Saudi Arabia, maintaining his condition that the kingdom normalize relations with Israel, The Wall Street Journal reports.

🇺🇸 Return Trip: The U.S. is sending personnel back to diplomatic missions in Lebanon, Israel, Saudi Arabia and Iraq who were evacuated during the Iran war, Reuters reports.

🏘️ Exclusive Built: Wynn Al Marjan Island in the UAE’s Ras Al Khaimah emirate has unveiled its exclusive Townhomes, ultra-private residences within the resort’s boutique Enclave hotel.

📉 Placing Restrictions: Saudi Arabia is cutting fees and easing margin requirements for futures on the kingdom’s top 30 stocks to boost derivatives trading, liquidity and investor participation, Bloomberg reports.

💸 Shrinking Down: Qatar’s economy is forecast to contract 8.6% in 2026, the steepest decline in the GCC, as war-related damage to its LNG infrastructure and disruptions through the Strait of Hormuz cost an estimated $24 billion in gas sales, Reuters reports.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, held a phone call with the Prime Minister of Lebanon Nawaf Salam, on Tuesday.

Sheikh Hasher bin Maktoum, Chairman of Dubai Media Inc., inaugurated the 31st edition of the Dubai International Pharmaceuticals and Technologies Conference and Exhibition at Dubai World Trade Centre on Tuesday.

Sheikha Fatima bint Mubarak, wife of the late UAE President Sheikh Zayed bin Sultan Al Nahyan, Chairwoman of the General Women’s Union, President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation, shared a statement on Tuesday in celebration of the Prophet Mohammed’s birthday, praising the country for upholding “an authentic path rooted in the values of Islam and the strength of social cohesion.”

Gagan Gupta, founder of Dubai-based Spiro electric mobility startup, said in an interview with Zawya that the company is targeting expansion into new markets including Ethiopia, Malawi, Mali and the DRC after raising $270 million. 

Dr. Rabeah Alzaidy was appointed to lead Lenovo’s Research & Development initiatives in Saudi Arabia, focusing on artificial intelligence and technology development in the kingdom. 

Faisal J. Abbas, Editor-in-Chief of Arab News, gave a briefing at the French Senate on Saudi Crown Prince Mohammed bin Salman’s visit to France.

🐫 Camel Casting: Saudi Arabia will hold a conference next week on how camels are portrayed in movies, television, literature and digital media. The Sept. 5 forum in the city of Taif will explore how the humped beast went from a key desert mode of transportation to an enduring national symbol, Arab News reports.

📷 Photo of the Day

COMIC PARK

Who knew? It turns out that French President Emmanuel Macron and Crown Prince Mohammed bin Salman both love “manga” comics so much, they want to build a theme park outside Paris that will be partly dedicated to the Japanese form of graphic novel. The two leaders discussed the $7 billion project during a two-day Paris summit, in which they also sat together at the finale of the Esports World Cup. The theme park’s construction will be led by Saudi Arabia’s Qiddiya Investment Co., which is owned by Saudi Arabia’s Public Investment Fund. Besides the manga park, the project will house two other theme parks, along with hotels, restaurants and luxury residences.

IPO PROSPECT

Egypt’s Ministry of Investment is reviewing a study for state-owned Misr Life Insurance of the company’s readiness for a potential IPO. The valuation, being conducted with the involvement of the International Monetary Fund, is expected to be completed within 45 days before being submitted to the Financial Regulatory Authority for approval, according to a note published by Zilla Capital. The European Bank for Reconstruction and Development is considering acquiring a 5% stake in Misr Life through a private placement, the note said. Six institutions are competing for stakes in the insurer, including the EBRD, International Finance Corp. and four investment funds. 

Mubadala Capital: The Abu Dhabi-based sovereign wealth fund’s alternative asset arm is integrating a $25 billion credit portfolio into its platform and opening it to outside investors for the first time.

Aramco: Saudi Aramco signed agreements with French companies potentially worth more than $3.7 billion, covering drilling equipment, oil country tubular goods and industrial AI technologies.

Masdar: The UAE renewable energy company owned by ADNOC, TAQA and Mubadala has begun commercial operations at its second U.K. battery storage project.

🛢️ Pipeline Push: TotalEnergies will invest in doubling the capacity of Abu Dhabi’s Habshan-Fujairah pipeline as the French oil and gas company backs export routes that bypass the Strait of Hormuz, CEO Patrick Pouyanné said.

✈️ Loan Takeoff: Kuwait’s Jazeera Airways renewed a $190 million loan facility with a local bank, of which it has utilized $95 million.

🏝️ Refreshing Land: Eagle Hills Properties is overseeing the development of Abu Dhabi’s Lulu Island, which is accessible only by boat.

💧Water Security: Gulf states are pouring hundreds of billions into data centers and AI infrastructure, but such ambitions depend on securing sufficient water supplies, The National reports.

🎭 Parlez-Vous?: The Saudi Ministry of Culture announced plans to establish a cultural center in Paris to promote Saudi culture, support its creative practitioners and deepen cultural ties and partnerships with France.

🛢️ Energy Exports: Gulf jet fuel exports to Europe more than doubled to 874,000 tons in July, making the region the continent’s biggest supplier.

King Salman of Saudi Arabia received a message from UAE President Sheikh Mohamed bin Zayed on Saudi-Emirati ties.

Prince Badr bin Abdullah bin Farhan, the Saudi Minister of Culture and Governor of the Royal Commission for AlUla, and French Foreign Minister Jean-Noël Barrot co-chaired the Saudi-French Joint Ministerial Committee on AlUla in Paris on Monday.

Sheikh Dr. Sultan bin Mohammed Al Qasimi, ruler of the northern emirate of Sharjah, has issued a law regulating the emirate’s correctional institution, focusing on security, social defense and inmates rights.

Jasem Al-Budaiwi, Secretary-General of the Gulf Cooperation Council, met with Maria Luisa Fantappie, head of the Mediterranean, Middle East and Africa program at the Institute of International Affairs, at the General Secretariat headquarters in Riyadh on Monday.

Ranjit Khanna was appointed CEO of Zurich-based banking group EFG International’s Dubai Advisory Office, strengthening the firm’s presence in the Dubai International Financial Centre.

Salman Albalooshi won an auction for a Pure Gyre falcon on Sunday at Abu Dhabi’s National Exhibition Centre with a winning bid of $69,400.

🇦🇪 Moscow Majlis: Abu Dhabi brought Emirati culture to the heart of Moscow with a five-day festival near Red Square featuring traditional Al-Ayyala dancing, handicrafts, Arabic coffee, local food and displays highlighting the emirate’s pearl-diving and seafaring heritage. Organized by Abu Dhabi’s Department of Culture and Tourism and the UAE Embassy in Russia, the free event at Manezhnaya Square ran through Sunday as part of Moscow’s summer festival program.

📷 Photo of the Day

August 28-Sept. 6, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition. An annual event celebrating traditional Emirati heritage and culture. ADNEC center.

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

August 31-Sept. 3, Riyadh. LEAP Expo Riyadh. A major tech trade show for the Middle East, which includes a global startup live pitch event. RECC Malham.

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

Sept. 1-3, Doha. Qatar Event Show. Brings together the events industry through a three-day program featuring exhibitions, conferences, workshops and networking opportunities. Doha Exhibition & Convention Center.

Sept. 7-8, Abu Dhabi. Hili Forum. The events bring policymakers and leading experts to examine the future of regional security, trade and energy corridors and technology. The St. Regis Saadiyat Island Resort.

Sept. 7-9, Dubai. AIM Congress. The global investment platform’s annual meeting brings together investors, governments, businesses and policymakers. Dubai World Trade Centre.  

Sept. 11-13, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles. ADNEC Centre.  

Sept. 13-18, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC Centre.

Sept. 14-16, Riyadh. Money 20/20. The event brings together banks, Big Tech, fintechs, regulators, startups and investors. Riyadh Exhibition & Convention Centre. 

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. 14-18, 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, Powered by Bloomberg: UNGA Special Edition 2026. The forum will host a special leadership gathering alongside the 2026 UNGA 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. AiEverything.The AI Summit brings together policymakers, innovators and business leaders. ADNEC.

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. 21-24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 26-29, Riyadh. Future Investment Initiative. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center.