QATAR PLEDGE

Qatar is moving ahead with its pledge to invest $7.5 billion in the Egyptian economy. The funds are earmarked for sectors from agriculture and real estate to tourism. Egyptian Prime Minister Mostafa Madbouly and Qatar Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani led delegations that met on Thursday in the northern coastal city of New Alamein to accelerate implementation of the investment package and broaden economic ties, The National reports. “Qatar’s commitment to pump $7.5 billion into the Egyptian economy has been confirmed,” Egyptian Foreign Minister Badr Abdelatty said after the meeting. “We have… begun this process and outlined specific ventures to be announced in the coming weeks during a grand ceremony that reflects the depth of our relations.”

WILD PURSUITS

The annual Abu Dhabi International Hunting & Equestrian Exhibition, or ADIHEX, returns this weekend with its biggest show ever. Visitors to the ADNEC center will find falcon auctions, camel showcases and a multitude of Arabian horses. Saluki hunting dogs, rifles and knives will be on display, with some 2,000 exhibitors participating in the nine-day fair from 68 countries. Another popular attraction is the dedicated section on RVs, fishing and camping, showcasing outdoor gear, equipment, and vehicles designed for desert and wilderness adventures. The show runs Aug. 30 to Sept. 7.

Oman Investment Authority: The Omani sovereign wealth fund is in talks with Burkina Faso to invest in its mineral, agriculture, and other sectors as part of efforts to diversify the Gulf country’s economy.

ADNOC: The UAE-owned oil company launched a secondary share sale in its ADNOC Logistics and Services subsidiary on Thursday, aiming to raise about $328 million.

TAQA: TAQA Distribution, a subsidiary of Abu Dhabi National Energy Company, which is known as TAQA, has entered into a partnership with Aldar Properties to support the development of sustainable, integrated communities in the UAE’s capital city.

Jada Fund of Funds: The fund published a report entitled, “Beyond Capital: The Saudi Value Creation Story,” exploring how private equity and venture capital firms are driving the country’s diversifying economy.

💼 Mideast Pivot: Hunting Plc announced plans to eliminate a third of its European jobs as it pivots focus to the Middle East, citing reduced drilling prospects in the North Sea.

✈️ Blue Skies: Royal Air Maroc expanded its fleet to 59 aircraft by acquiring a Qatar Airways Boeing 737 Max-8, part of its plan to quadruple capacity ahead of the soccer’s 2025 Africa Cup of Nations and 2030 FIFA World Cup.

🤝 Underwater Link: Iraq signed an agreement with Bahrain’s Batelco to install a marine cable system that will connect the country with all Gulf states.

📊 Rate Reduction: Egypt cut interest rates for the first time since May as inflation cooled and the pound strengthened, aiming to encourage investment and ease debt-servicing pressures.

🏦 Financial Hub: Riyadh’s King Abdullah Financial District, long criticized as underused, is seeing new occupancy as Saudi Arabia advances plans to establish the area as its central financial hub, the Financial Times reports.

🎮 Gaming Revenues: Saudi Arabia accounted for 20% of MENA gaming revenues in 2024, generating $1.2 billion, according to a report by Savvy Games Group.

🪖 Applied Tech: Condor, a Brazilian defense contractor owned by the UAE’s EDGE Group, signed an agreement with Hungary’s 4iG S&D to create a regional hub for advanced “non-lethal” products, encompassing manufacturing, technology transfer, training, and joint research.

🪙 Digital Gold: O Gold, a UAE-based gold and silver ownership app, has partnered with Botim, Astra Tech’s flagship AI-powered fintech company, to let Botim users to buy and sell digital gold.

Sheikh Tahnoun bin Zayed, Deputy Ruler of Abu Dhabi, National Security Adviser, and Chairman of the Abu Dhabi Artificial Intelligence and Advanced Technology Council, has been named as one of Time magazine’s 100 most influential figures in artificial intelligence for 2025.

Sheikha Mahra, the daughter of Sheikh Mohammed bin Rashid, Ruler of Dubai and UAE Vice President, and his wife Zoe Grigorakos, is engaged to be married to Moroccan-American rapper French Montana.

Sheikh Abdullah Al Thani, Qatar’s former Prime Minister and uncle of the Emir, recently sailed into Palma de Mallorca aboard his $100 million Oceanco-built yacht, Yasmine of the Sea, Luxury Launches writes in a profile on the Sheikh.

Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, met with the Australian Business Council in the UAE on Thursday to discuss how the private sector can effectively leverage the opportunities of the UAE-Australia Comprehensive Economic Partnership Agreement that was signed last November. (WAM link)

Ben Harburg, Managing Partner at MSA Capital and the new owner of Saudi Arabia’s Alkholod soccer team, talked to CNBC on why he’s investing in the Saudi Pro League club, and how the developing league is expanding its global reach.

Tanvir Muhammad Haque, was named acting CEO of Abu Dhabi-traded Eshraq investments after its CEO Mohamed Al Sayed Al Hashmi resigned. 

Dr. Ibrahim Almojel was appointed Chairman of the Board in Saudi Arabia for Vennre, a London-based investment firm expanding in the kingdom. Almojel is Co-Founder of Khwarizmi Holding, which invests in startups, private equity and real estate.

Lucas Bellieud, an automobile industry veteran executive, has been appointed Managing Director of Al-Futtaim Electric Mobility.

📺 Desert Dynasty: National Geographic’s “Lost Treasures of Arabia: The Nabataean Kingdom,” dives into the world of the ancient desert traders who turned Jordan’s Petra and many other parts of the Middle East into wonders of engineering, commerce, and culture. The television documentary, which premieres today on Disney+, spotlights Hegra, the age-old city in southwestern Saudi Arabia, whose monumental sandstone tombs, water aqueducts, coins and jewelry provide insights into the innovative society built 2,000 years ago by the Nabataeans.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

GOING, GONE

Sotheby’s, the venerable auction house owned in part by sovereign wealth fund ADQ, is coming to Abu Dhabi in December. Up for sale will be a collection of jewelry, rare watches, real estate and collector cars, Sotheby’s announced today. Auctions will take place from Dec. 2 to Dec. 5 during the same week as the Formula One Grand Prix in Abu Dhabi. Meanwhile, Patrick Drahi, the French telecom magnate who acquired Sotheby’s in 2019 and sold a $1 billion stake to ADQ last year, is the subject this week of a profile in the New Yorker.

CREATIVE CAPITAL

Dubai is putting a $1 million spotlight on artificial intelligence, launching the world’s largest prize for AI-generated films at the 1 Billion Followers Summit 2026 in January. The event will also unveil a $13.6 million creators’ fund, signaling the emirate’s intent to dominate the fast-evolving content economy. Under the patronage of Sheikh Mohammed bin Rashid Al Maktoum, ruler of Dubai and UAE vice president, the summit will honor the winning AI-generated short film, with the top ten entries screened during the gathering. All submissions must be created entirely with artificial intelligence and will be judged on storytelling, creativity, and humanitarian themes, according to Arabian Gulf Business Insight. “The content economy is an economic power with limitless horizons,” said Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs. 

Abu Dhabi Investment Authority: ADIA has committed up to $1.5 billion to logistics and investment firm GLP to help back its growth strategy, Bloomberg reports.

Mubadala: Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, is investing $35 million in UK tech firm Paragraf as part of a $55 million Series C round, a deal that gives Mubadala a 12.8% stake in the graphene-based electronics producer.

The Kuwait Fund for International Development signed a financing agreement with Nicaragua to build a 115-meter bridge over the Prinzapolka River, aimed at improving transport links in the country’s northeastern region.

🛢️ Exploring Africa: Australia’s Invictus Energy will sell a 19.9% stake to Al Mansour Holdings – an investment firm backed by Qatari royal member Sheikh Mansour bin Jassim Al Thani – providing funding for exploration work in Zimbabwe’s Cabora Bassa Basin.

🌀 Blue Money: The UAE’s biggest lender, First Abu Dhabi Bank, has issued a $50 million 5-year Blue Bond, the Gulf’s first by a financial institution, to fund projects in sustainable water management, climate adaptation, and biodiversity conservation.

Investment Bridge: Relay Capital Group and MENA Growth Partners announced an alliance to link U.S. and MENA technology markets, aiming to expand cross-border deal flow.

🏭 Water Power: Water Alliance Ventures, a joint venture between UAE based power and water company AMEA Power and Spanish utility company Cox, will develop a $200 million desalination project in Angola’s city Lunada.

💰 Solar Investors: A consortium of companies including China’s JA Solar, Egypt’s AH Industrial Management, UAE-based Global South Utilities and Bahrain’s Infinity Capital will invest $220 million to build the Atom Solar Egypt facility in the Sokhna Industrial Zone to produce solar cells, panels and energy storage systems.

🕌 Housing Shift: The holy city of Madinah has overtaken Riyadh as Saudi Arabia’s fastest-growing residential market in the first half of 2025, property consulting firm Knight Frank reports.

📈 Alluring Listings: Egypt is weighing new financial incentives to attract large-scale listings on its stock exchange, with Deputy Finance Minister Ahmed Kouchouk saying the move would deepen the market and draw more local and international investors.

⛽ Energy Discovery: Egypt’s Petroleum Ministry announced a new Western Desert oil and gas discovery at the North Lotus Deep-1 well, operated by Agiba Petroleum in partnership with Eni.

🔋 Battery Storage: China’s HiTHIUM won a contract from Saudi Electricity Co. for battery storage in the northwestern province of Tabuk and north central province of Hail.

UAE President Sheikh Mohamed bin Zayed left Egypt on Wednesday after meeting with Egyptian President Abdel Fatah El Sisi.

Saudi Crown Prince Mohammed bin Salman received a written message from Russia’s President Vladimir Putin, on relations between both countries. The message was delivered through Russia’s Ambassador Sergei Kozlov. 

Sheikh Hamdan bin Mohammed bin Rashid, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defense, and Chairman of the Board of Trustees of Dubai Future Foundation approved a pilot project between the foundation and Amazon UAE that allows individuals and small business owners to earn flexible income through on-foot delivery.

Wang Wentao, the Chinese Commerce Minister, said during a visit to Riyadh that China is seeking to strengthen commercial ties with Saudi Arabia after talks on a Gulf-wide free trade agreement stalled. 

Riad Salameh, Lebanon’s former Central Bank Governor, will be released on bail of $20 million, nearly a year after he was detained on embezzlement charges.

Bandar Alkhorayef, Saudi Minister of Industrial and Mineral Resources, held a meeting in Washington with Chris Wright, the U.S. Energy Secretary to discuss ways of enhancing mining cooperation. 

🍷 Vintage Struggle: Lebanon’s once-vibrant wine industry is under strain as vineyards and production facilities that suffered extensive damage from fighting in the Hezbollah-Israel conflict, now face blocked exports, crippling drought and the growing menace of global warming, Reuters reports. To keep business alive, Elias Maalouf, a farmer in southern Lebanon’s Bekaa Valley, has opened up his winery to other ventures, allowing wine lovers and restaurants to pay to make their own mixes from his grapes, or rent his equipment to make arak, a traditional Lebanese grape spirit.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

LIFTING LEBANON

Qatar, Saudi Arabia, and other Gulf states are weighing investments in a new economic zone in southern Lebanon. The initiative, presented by U.S. officials in Beirut on Tuesday, aims to provide jobs for members of the Hezbollah organization, which agreed to a ceasefire with Israel last November after a year of fighting. “The money will come from the Gulf,” Ambassador Tom Barrack, U.S. Special Envoy to Syria, told reporters after meeting President Joseph Aoun. “Qatar and Saudi Arabia are partners and are willing to do that… if we’re asking a portion of the Lebanese community to give up their livelihood.”

CHINA FUND

Abu Dhabi-based BlueFive Capital and China International Capital Corp.’s private equity arm are preparing a new fund to support Chinese companies aiming to expand in the Middle East. The proposed investment vehicle will target sectors where Chinese firms can build up operations across the Gulf region, leveraging both capital and regional market access, Bloomberg reports. While details regarding the fund’s size and timeline remain undisclosed, the move reflects growing financial collaboration between Chinese investors and Gulf economies. The planned fund is positioned to facilitate business expansion by offering both strategic and financial resources to participating Chinese companies.

Public Investment Fund: Savvy Games, which is owned by the Saudi sovereign wealth fund, cited this summer’s Esports World Cup in its 2025 Annual Report for making strides in the three pillars of the company’s mission: Esports, game development and publishing, and building a gaming ecosystem in the kingdom.

ADNOC: The UAE’s biggest oil producer ADNOC will supply Indian Oil Corp. over 2 million tons of LNG annually under long-term deals of 15 years that make it ADNOC’s largest LNG customer by 2029 while supporting India’s plan to boost gas use, Bloomberg reports.

Mubadala: Paragraf, a U.K. developer of “graphene electronics” in which a Mubadala subsidiary holds a minority stake, raised $55 million in a Series C funding round to provide cash for acquisitions.

Norges Bank Investment Management: Norway’s sovereign wealth fund has divested holdings in Israel’s four largest banks, Hapoalim, Leumi, Mizrahi-Tefahot and First International, as well as in U.S. construction equipment maker Caterpillar

💸 Funding Round: UAE-based education tech platform Cointel raised $7.4 million in a funding round led by Avalanche and Sugafam to help the company expand in the U.S.

💶 Islamic Loans: Maalexi, a  B2B food and agriculture platform, secured a shariah-compliant credit facility of up to $20 million from Dubai based Amwal Capital Partners.

💳 Cashless Dubai: Dubai’s Finance Department and General Directorate of Identity and Foreigners Affairs signed a draft agreement setting a goal for 90% of government and private sector financial transactions to be carried out through digital means.

🛡️ Security Deal: Kuwait-based Agility, through its Menzies Aviation unit, acquired U.S.-based G2 Secure Staff for $305 million, doubling its American footprint and rebranding the company under the Menzies name.

🕌 Knowledge Center: Saudi Arabia’s Knowledge Economic City secured $81 million from Riyad Bank to complete the remaining residential component of its Al-Alya’a project in Madinah.

🌐 Saudi Digital: Advanced Communications and Electronics Systems Co. in Saudi Arabia is considering a stake sale, Bloomberg reports.

🏦 Citi Shakeup: Citigroup has restructured its EMEA Debt Capital Markets team and hired former JPMorgan banker Rob Cascarino as part of the leadership changes, Bloomberg reports.

💺 Plane Dining: Morocco has transformed two retired Airbus planes in the city of Agadir into luxury restaurants serving traditional cuisine to boost tourism ahead of the African and World Cup tournaments.

🤱 People Power: Dubai’s population is about to surpass 4 million, doubling in less than 15 years, according to the Dubai Statistics Centre.

Sheikha Fatima bint Mubarak, wife of the late UAE President Sheikh Zayed bin Sultan, who is known as “Mother of the Nation,” participated in a ceremony on Tuesday to mark Emirati Women’s Day. Sheikha Fatima serves as Chairwoman of the General Women’s Union, President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation. 

Prince Jalawi bin Abdulaziz, Governor of Najran province in southwestern Saudi Arabia, received Ambassador of Malta Clive Aguilina Spagnol to the kingdom on Tuesday.

Islam Abdel Azim Azzam has been appointed as Chairman of the Egyptian Exchange stock market for a one-year term, succeeding Ahmed El Shiekh.

James Sadler has been named Head of Debt Capital Markets and Structured Finance at Oman Investment Bank. Sadler was previously Director of Capital Markets and Financing at HSBC Saudi Arabia.

Inderpreet Singh was named Head of Sales at UAE-based Mashreq bank, as part of a set of appointments that includes Abdeslam Bennani as Head of Trading, Salman Amjad as Head of Asset and Liability Management, and Abdulaziz Kashwani as General Manager of the bank’s Mashreq Securities unit.

🎞 Next Dune: Abu Dhabi will once again serve as a principal shooting location for the upcoming third installment of Denis Villeneuve’s sci-fi fantasy Dune. The emirate, which has hosted more than 180 international shoots, said in a press release that it will increase cashback rebates, as part of an effort to gain recognition as a global filming hub with unique landscapes and strong production incentives. The new Dune movie is scheduled for release in December 2026.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

generating ai

With ample resources to run power-hungry AI servers, Saudi Arabia is plunging into the worldwide race to build massive data centers. Humain, an artificial intelligence firm owned by the kingdom’s Public Investment Fund, has started construction on its first set of data centers and plans to launch operations early next year. Driving the facilities will be  semiconductors from U.S. chipmakers, including 18,000 of Nvidia’s latest AI chips in centers at Riyadh and Dammam, Bloomberg reports. “It depends on the governance and the protocols and the approval of the U.S. government, and these are formalities that we are going to start going through very, very soon,” Humain CEO Tareq Amin told the news agency.

angola angle

The UAE is going deep into Angola. On a state visit to the southern African nation, which holds substantial supplies of diamonds, copper and oil, UAE President Sheikh Mohamed bin Zayed sat beside Angolan President João Lourenço to witness the signing on Monday of a free-trade deal between the two countries. Dr. Thani Al Zeyoudi, the UAE’s Minister of Foreign Trade, said the Comprehensive Partnership Trade Agreement and other accords signed during the trip would generate bilateral returns reaching $10 billion a year by 2033. Among the areas for cooperation covered in the deal are artificial intelligence, banking, agriculture, tourism and energy.

Public Investment Fund: The Saudi sovereign wealth fund raised its U.S. equity holdings to $23.8 billion in the second quarter from $20.6 billion a year earlier, shifting away from technology stocks into chips and healthcare.

Mubadala: UAE-based property tech firm Holo raised $22 million in a Series A funding round led by Saudi Arabia’s Impact46, with participation from Mubadala and Dubai Future District Fund.

Saudi Real Estate Refinance Co.: The firm, which is owned by the PIF, launched the kingdom’s first residential mortgage-backed securities, creating a new asset class to deepen housing finance liquidity and investment options.

Masdar: The Abu Dhabi-owned renewable energy company is in talks to sell its 50% stake in rooftop solar venture Emerge Energy as it redirects resources toward larger-scale projects, Bloomberg reports.

🎮 Game Support: Impact46, a Saudi-based investment firm, has made its largest entertainment and gaming investment in the kingdom by acquiring local game studio Kammelna, creator of the popular digital Baloot card game for $53 million.

🌐 Data Funds: Qatar’s IT company Meeza secured a $219 million Islamic-based loan from Qatari-listed Dukhan Bank to build a 44-megawatt data center.

💰 Fast Track: Dubai-based Fern Hospitality Ventures  has launched a $100 million fund, managed by Dalma Capital, to invest in global dining and leisure brands, raising $15 million within the first 24 hours, Arabian Business reports.

☎️ Satisfied Customer: Verint, an Israeli-founded firm that automates customer service functions, has agreed to be acquired by private equity firm Thoma Bravo in an all-cash transaction valued at approximately $2 billion.

💸 Golden Gate: Oman will launch a golden visa program this week, joining other Gulf states in offering long-term residency options designed to attract foreign investors.

🇵🇰  Gas Delay: Pakistan intends to request that Qatar defer delivery of liquefied natural gas for five years, citing weak domestic demand and rising import expenses, Bloomberg reports.

⛽ LNG Dubai: Drydocks World, a DP World company, has secured an Engineering, Procurement, and Construction contract from AMIGO LNG, a joint venture between Texas-based Epcilon LNG LLC and Singapore-based LNG Alliance Pte Ltd., to build the world’s largest Floating Liquefied Natural Gas liquefaction facility at Drydocks World’s yard in Dubai. (WAM link)

💳 Secure Transfer: ADGM has set up its first platform to test and develop quantum-based technology that makes sensitive data transfers more secure, collaboration with the ADGM Academy, Technology Innovation Institute, Hub71, and ASPIR.

 💵 Lower Value: Dubai-based Sidara cut its takeover bid for Scotland-based Wood Group by about 14% valuing the engineering and consulting firm at about $280 million amid a U.K. regulatory probe into into its operations, Reuters reports.

UAE President Sheikh Mohamed bin Zayed traveled to Egypt on Monday where he met President Abdel Fattah El-Sisi in Alamein City.

Qatar’s Emir Sheikh Tamim bin Hamad received a phone call from French President Emmanuel Macron in which the two leaders discussed relations between their countries, as well as the Gaza and Ukraine conflicts.

Nabil Al Rantisi was appointed Group CEO of Dubai-based Shuaa Capital, which announced plans earlier this month to launch new investment funds and reactivate its investment banking platform.

Mark Wyllie was appointed CEO for Emirates Industry for Camel Milk & Products, a producer of fresh camel milk.

Victor Mourad, Co-Head of CEEMEA Debt Financing at Citi, told Zawya that the GCC debt activity is expected to increase in the coming months as regional liquidity continues to drive issuance by sovereigns, banks, and corporates.

⛪ ​​Island Cross: Archaeologists in Abu Dhabi have unearthed a stucco plaque inscribed with a Christian cross at a seventh-century monastery site on Sir Bani Yas Island, the first major excavation there in over 30 years. The monastery, first discovered in 1992, is linked to the Church of the East and the newly found cross reflects the deep spiritual traditions of monks who lived in contemplation and asceticism, according to the Department of Culture and Tourism. The discovery highlights the UAE capital’s early Christian heritage while reinforcing Abu Dhabi’s efforts to showcase its history of religious coexistence.

Aug. 22-24, Southampton, N.Y. Milken Institute Hamptons Dialogues. Three-day conference will feature White House Middle East envoy Steve Witkoff, Pershing Square’s Bill Ackman, Carlyle’s David Rubenstein and comedian Jerry Seinfeld.

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

Aug. 24, Riyadh. Esports World Cup. Finale to seven-week gaming championship with $70 million in prizes to be awarded. Boulevard City.

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

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

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

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

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

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

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

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

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

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

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

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

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

CLIENT CULL

HSBC’s Swiss private bank is cutting ties with more than 1,000 wealthy Middle Eastern clients, including individuals from Saudi Arabia, Qatar, Lebanon and Egypt, some with assets exceeding $100 million. The move follows scrutiny from Swiss regulators, who in 2024 said the bank had breached anti-money laundering obligations, the Financial Times reports. HSBC confirmed its Swiss private bank is shifting strategic focus as part of a wider group reshaping announced last year. Barry O’Byrne, HSBC’s CEO of International Wealth and Premier Banking, told Reuters the bank remains committed to its Middle East and Swiss wealth operations.

TRIMMING TROJENA

Calls on Saudi Arabia to delay or scale back some of its biggest projects, including the Trojena ski resort, are drawing praise from investors. Tim Callen, a visiting fellow at The Arab Gulf States Institute, told Bloomberg that outside backers want to see a recalibration of the $1.5 trillion NEOM development that would improve financial sustainability and investor confidence. With oil prices having dropped to levels far below what Saudi Arabia needs to balance its budget, the government is facing difficulties meeting project targets. Saudi Arabia and the Olympic Council of Asia have begun approaching other countries to potentially take over the 2029 Asian Winter Games that are meant to be held in Trojena, Bloomberg reported last week.

TAQA – Abu Dhabi National Energy Co: The government-owned utility struck a $1.2 billion deal to acquire Spanish firm GS Inima, aiming to expand global water operations with one of its largest international purchases ever.

ADNOC: Australian gas producer Santos agreed to extend the exclusivity period for an $18.7 billion takeover bid led by ADNOC’s XRG consortium until Sept. 19, citing the need for more time to complete due diligence and secure internal approvals, Australian Financial Review says.

Public Investment Fund: ACWA Power, a renewable energy company owned by the Saudi sovereign wealth fund, secured $3.4 billion in financing to build two power plants in the kingdom from a consortium including Export-Import Bank of Korea, Saudi National Bank, Standard Chartered Bank, and Bank of China.

Diriyah Co., a PIF-owned company that is developing Riyadh’s historic Diriyah quarter, signed an agreement with Saudi Research and Media Group to expand collaboration through a variety of means including corporate conferences, exchange of experts and joint training programs. The deal was signed by Diriyah CEO Jerry Inzerillo and SRMG CEO Jomana Alrashid.

📈 Fashion IPO: Saudi retailer Jamjoom Fashion Trading confirmed plans to float 30% of its shares on Riyadh’s Nomu parallel market,  with pricing to be announced Sept. 1 and the IPO closing on Sept. 9.

🛢️ Kurdistan Return: Hunt Oil said it has resumed operations in Iraq’s Kurdistan region marking its reentry into a key oil-producing territory after repeated interruptions in recent years.

💰 Funding Boost: Qatar Islamic Bank, the Gulf state’s largest publicly traded Islamic bank, raised $1 billion through an oversubscribed three-year Islamic financing facility.

🛒 Grocery Entry: The Spinneys supermarket chain will launch in Kuwait through a joint venture with Alshaya Group, expanding into its fourth Gulf market after the UAE, Oman and Saudi Arabia.

🪆 Russian Retreats: Gulf travelers from Saudi Arabia, the UAE and Kuwait are heading to Russia in greater numbers, lured by TikTok promotions, relaxed visa policies and new airline connections that are turning the country into a rising holiday destination, the Financial Times reports. 

🏦 Closing Shop: Lombard Odier, the Swiss private bank, will shut down its Abu Dhabi operations and continue to serve UAE clients from its office in the Dubai Financial District, Bloomberg reports.

🪖 Shocking Waves: The abrupt dismissal of three senior defense industry figures – Talal bin Abdullah al-Otaibi, Mohamed al-Mady, and Ghassan bin Abdulrahman al-Shibl – is generating concern about why they were fired and who will replace them, Intelligence Online reports.

UAE President Sheikh Mohamed bin Zayed traveled to Angola on Saturday for a two-day state visit with Angolan President João Manuel Lourenço. He was accompanied by a delegation that included Lt. General Sheikh Saif bin Zayed, Deputy Prime Minister and Minister of the Interior; Sheikh Hamdan bin Mohamed bin Zayed, Deputy Chairman of the Presidential Court for Special Affairs; Sheikh Mohammed bin Hamad bin Tahnoun, Adviser to the UAE President; Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade; Abdullah bin Touq Al Marri, Minister of Economy and Tourism; and Khalid Mohammed Balama, Governor of the Central Bank of the UAE.

King Salman of Saudi Arabia received a letter from Egyptian President Abdel Fattah El-Sisi about ways to strengthen cooperation between the two countries.

Prince Abdulaziz bin Mohammed bin Ayyaf, the Saudi Arabia’’s Acting Vice Minister of Interior,met on Sunday with Chang Hua, China’s ambassador in Riyadh.

Masayoshi Son, CEO of Japan’s SoftBank, has developed a strong relationship with U.S. President Donald Trump, building his influence in billion-dollar deals involving OpenAI, Intel and other tech giants, the Financial Times reports.

Rawan Al-Butairi, CEO of the new Saudi Esports Federation spoke to ArabNews about efforts to strengthen  the women’s league and develop young talent.

Phillipa Harrisonhas been named CEO of the Ras Al Khaimah Tourism Development Authority. Harrison was previously Managing Director of Tourism Australia.

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

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

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

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

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

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

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

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

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

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

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

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

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

NO SNOW

First came news stories earlier this week about construction delays and concerns about snowmaking capacity at NEOM’s planned Trojena desert ski resort. Now, the Financial Times reports that organizers of the 2029 Asian Winter Games are shopping for alternative countries in which to hold the competition because they fear the Saudi site won’t be ready. One part of the project requires blasting out huge amounts of rock and installing some 3,000 tension cables, a process that could take eight years, according to the FT. Trojena, which is 2,600 meters above sea level, is planned to have 30 kilometers of ski runs available between December and March each year. While there is some natural snow in the area, it is rare, and so the resort will rely completely on artificial snow. 

BRITISH INFLUX

Nearly one in five U.K. millionaires are considering relocating to Dubai as the UAE emerges as a top global safe haven for wealth amid rising uncertainty in London. Higher inheritance and capital gains taxes introduced in the U.K. have accelerated this trend, according to a survey of 1,000 high net wealth individuals by Arton Capital. As a result, off-plan property sales to British buyers in Dubai doubled in the second quarter of 2025 year-on-year, the report notes. More than 240,000 U.K. nationals currently reside in the city, underscoring its growing appeal as a wealth and lifestyle hub. “The UAE has firmly established itself as a safe harbour for wealth and talent at a time when many historically favoured markets are becoming increasingly unpredictable,” Arton Capital CEO Armand Arton said.

Public Investment Fund: ACWA Power, which is owed by the Saudi sovereign wealth fund,  began commercial operations at three solar plants totaling 2.8 gigawatts.

Abu Dhabi Investment Authority: A subsidiary of ADIA will hold a minority stake in HR software provider Dayforce as part of a $12.3 billion buyout led by private equity firm Thoma Bravo.

Oman Investment Authority: Singapore’s Meranti Green Steel will begin building a green steel plant in a free zone in Oman, as part of a renewable energy agreement with OQ.

🏦 Bank Merger: Kuwait’s Warba Bank and Gulf Bank merger will allow the new Islamic banking entity to expand for around a decade without raising fresh capital, with assets of 7 billion dinars ($22.9 billion), Warba’s chief executive said.

🤝 Qatar Deal: Botswana signed a $12 billion investment agreement with Qatar’s Al Mansour Holdings to develop infrastructure, energy, mining, diamond refinement, agriculture, tourism, cybersecurity, and defense, in partnership with Botswana Development Corp., President Duma Boko announced.

💰 AI Fund: CE-Ventures, the venture capital arm of Sharjah-based Crescent Enterprises, took part in a $100 million series B funding round for U.S. nuclear technology startup Aalo Atomics alongside U.S.-based Fine Structure Ventures, Crosscut Ventures and Germany’s Hitachi Ventures.

🏫 School Sale: Amanat Holdings earned a net $80 million from selling the real estate assets of North London Collegiate School in Dubai for $123 million.

💵 New Business: Egypt wants to attract $2 billion worth of Indian investments in the next 18 months, Egyptian-Indian Business Council Chairman Khaled Abu El-Makarem told Al Arabiya Business.

⚓ Looking West: DP World signed an agreement with Japan’s Itochu Corp., to expand logistics, supply chain infrastructure, and distribution capabilities of Japanese companies in sub-Saharan Africa.

🛢️ Oil Glut: Asian refiners are sourcing crude from outside the Middle East, yet the broader market remains braced for oversupply despite increased global purchases, Bloomberg reports.

Saudi Crown Prince Mohammed bin Salman hosted a meeting with Egyptian President Abdel Fattah El-Sisi at NEOM Palace on Thursday to discuss relations between their countries and developments in the region. The Saudi leader was also photographed giving blood on Thursday as part of an annual national campaign to encourage donations. 

Qatar’s Emir Sheikh Tamim bin Hamad held a meeting with U.S. Senator Joni Ernst, an Iowa Republican, at his Amiri Diwan office on Thursday, where they discussed relations between the two countries.

Sheikh Mohammed bin Abdulrahman bin Jassim, Qatar’s Prime Minister and Foreign Minister, co-chaired the inaugural meeting of the Coordination Council for the Strategic Partnership between Qatar and Uzbekistan alongside Bakhtiyor Saidov, the Uzbeki Minister of Foreign Affairs.

Mohammed Bin Mahfoodh Alardhi has been named Chairman of Abu Dhabi-based RoyalJet. Alardhi is currently Executive Chairman of Investcorp.

Carsten Nørland has been named Chief Commercial Officer of Abu Dhabi Airports. He was previously CEO of Danish ferry operator Scanlines.

Carlos Ghosn, the fugitive tycoon and former Renault CEO, said in an interview with CNN Business Arabic that Lebanon, where he resides now, needs the International Monetary Fund to ensure fiscal discipline. 

Ron Dermer, Israel’s Minister of Strategic Affairs, traveled secretly to the UAE last week and met with senior officials in an effort to improve relations strained by the Gaza conflict, Bloomberg reports. Neither country publicly acknowledged the visit.

Michele Bellabarba, Head of Public Markets at Multiply Group, is interviewed on the “Multipliers” podcast about his journey from London’s financial hubs to Abu Dhabi, the mindset behind smart investing and the real difference between price and value.

🎨 No Nudes: Art students at Damascus University are protesting a new directive from the dean’s office banning the use of nude models in sculpture, photography and engraving courses.
The policy was announced by Dean Fouad Dahdouh, himself a well-known sculptor and painter whose work over the past 40 years includes nudes, The National reports. The cultural dispute reflects confusion over new societal norms since the Assad regime’s toppling by the Islamist Hayat Tahrir al-Sham organization, whose leader Ahmed al-Sharaa is now President.

Aug. 22-24, Southampton, N.Y. Milken Institute Hamptons Dialogues. Three-day conference will feature White House Middle East envoy Steve Witkoff, Pershing Square’s Bill Ackman, Carlyle’s David Rubenstein and comedian Jerry Seinfeld.

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

Aug. 24, Riyadh. Esports World Cup. Finale to seven-week gaming championship with $70 million in prizes to be awarded. Boulevard City.

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

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

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

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

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

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

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

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

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

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

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

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

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

SOCCER SALE

Saudi Arabia is increasingly finding sports to be a lucrative source of cash. The kingdom’s Ministry of Sport announced this week it has put two soccer teams, Al Najma and Al Okhdood, up for sale as part of its privatization campaign, Arabian Gulf Business Insights reports. Last year, the Public Investment Fund bought ownership of four clubs from the government, including  Al-Nassr, home to Portuguese superstar Cristiano Ronaldo. Al-Kholood was bought last month by American investor Ben Harburg.

POOL PARTIES

Dubai-based FIVE Hospitality has built a successful strategy out of creating social spectacles at its stylish hotels, regularly throwing pool parties that draw hundreds of cocktail-sipping guests and generate buzz. Now the Dubai-based company is contemplating an IPO, Bloomberg reports. FIVE, which acquired Spain’s Pacha Group two years ago, saw a 20% jump in its earnings for the first half of 2025. Indian founder and Chairman Kamir Mulchandani said the FIVE may go public in Dubai, London, or New York.

Mubadala: The UAE’s biggest lender, Mubadala-backed FAB Bank, is among a handful of global lenders that helped India’s Adani Airport Holdings raise $150 million, Bloomberg reports.

TAQA: British engineering firm, Turner & Townsend has been appointed by the Abu Dhabi National Energy Company, TAQA, to help decommission a power plant in Abu Dhabi by 2029.

Public Investment Fund: The Saudi sovereign wealth fund launched its new “azm” workplace development program this week to provide specialized training and align young Saudis with the kingdom’s future business needs.. Among those at the launch ceremony were PIF Governor Yasir Al-Rumayyan and Education Minister Yousef Al-Benyan.

The Saudi Fund for Development signed agreements worth $985 million with 13 countries in 2024, financing projects across Africa, Asia, Europe and Latin America, according to the agency’s newly released annual report.

⚛️ Nuclear Backing: UAE-based CE-Ventures joined a $100 million funding round for U.S. nuclear tech company Aalo, led by Valor Equity Partners with participation from Fine Structure Ventures, Hitachi Ventures, Crosscut Ventures and other investors.

🛩️ Private Skies: Saudi Arabia has granted private jet operator VistaJet permission to fly in the kingdom, expanding international access to Saudi airspace for corporate and luxury travelers.

⚽FIFA Fever: Morocco has started major expansion work on two airports in preparation for co-hosting soccer’s 2030 FIFA World Cup by awarding contracts worth $440 million to two companies, Jet Contractors and SGTM.

💻AI People: Singapore-based artificial intelligence recruitment platform X0PA AI announced plans o open a regional office in Dubai which will be directly managed by the company’s Founder and CEO, Nina Alag Suri.

🔒 Cyber Load: Seemplicity, an Israeli startup that helps companies reduce their mounting cybersecurity workload, raised $50 million in a Series B funding round, led by Sienna Venture Capital.

📈 Contracting Funds: Saudi Arabia’s MTC is considering an IPO that could value the contracting firm in the range of about $3.2 billion to $4 billion, with Moelis & Co. acting as a financial advisor and Al Rajhi Capital arranging the deal, Bloomberg reports.

🏝️ Tourism Finance: Red Sea Global, developer of Saudi Arabia’s luxury tourism projects, is weighing options including an IPO or converting assets into real estate investment trusts as resort openings accelerate, CEO John Pagano told Al-Eqtisadiah.

🤝 Family Affair: Dealings between a cousin of Trump son-in-law Michael Boulos and Saudi businessman Abdulelah Alam are among the connections reviewed in an investigation by The New York Times.

🛰️ Sky Internet: SpaceX’s Starlink is in talks with Emirates, Saudia and Flydubai to supply in-flight Wi-Fi, focuses on the Middle East and its luxury air travelers.

🌍 Global Contender: Abu Dhabi is looking at new ways to position itself as a global financial hub, courting hedge funds and asset managers to set up operations in the emirate as part of an ambitious broader effort to rival London and New York, the Financial Times reports.

✈️ Bidding Flights: Companies from the UAE, Oman, Turkey and the U.K. have submitted bids to help restore full commercial operation at Iraq’s Mosul International Airport, which was destroyed by ISIS in 2014.

Pope Leo is likely to make Lebanon his first trip abroad and demonstrate his commitment to seeking peace in the Middle East early in his papacy, Reuters reports.

Prince Faisal bin Farhan, the Saudi Foreign Minister, held separate phone calls with UAE Foreign MinisterSheikh Abdullah bin Zayed, Qatari Foreign Minister Sheikh Mohammed bin Abdulrahman Al-Thani and Bahrain Foreign Minister Abdullatif bin Rashid Al-Zayani to discuss recent developments in the region.

Sheikh Mohamed Bin Khalid Al Nahyan, Chairman of the Sheikh Mohamed Bin Khalid Al Nahyan Cultural and Educational Institutions, secured a $817 million syndicated loan from a group of banks led by Abu Dhabi Commercial Bank, Commercial Bank of Dubai and Mashreq, to help finance new investments by the Private Department, which is owned by Abu Dhabi’s ruling family.

Matthias Aydt, Co-CEO of U.S.-based Faraday Future Intelligent Electric said during the company’s earnings call this week that it is preparing a site in Ras Al Khaimah Economic Zone, for possible regional assembly of their FX Super One electric minivan.

Katralnada Binghatti, CEO of Binghatti Capital, told Zawya in an interview that the newly formed asset management company is launching two real estate funds and a private credit fund.

📜 Union Legacy: Dubai’s historic Union House – where the 1971 Declaration of the United Arab Emirates was signed – has been added to the Arab League Educational, Cultural and Scientific Organization’s registry of architectural heritage sites. Built in 1965 and restored to its original design, the circular building is now part of the Etihad Museum, The National reports. The building joins 18 other significant Arab landmarks recognized through ALECSO’s initiative to document and preserve regional architectural heritage.

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

Aug. 22-24, Southampton, N.Y. Milken Institute Hamptons Dialogues. Three-day conference will feature White House Middle East envoy Steve Witkoff, Pershing Square’s Bill Ackman, Carlyle’s David Rubenstein and comedian Jerry Seinfeld.

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

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

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

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

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

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

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

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

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

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

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

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

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

DIGGING DEEP

Egypt is planning a nationwide geological survey of mining sites that are likely to attract foreign investment. The study will compile detailed geological data and map potential deposits of gold, copper and other minerals across the country, Minister of Petroleum and Mineral Resources Karim Badawi said in a statement. The information will be made available to prospective investors to support bidding in upcoming exploration tenders. As part of the initiative, the ministry plans to coordinate with international consultants and local institutions to update and digitize existing geological records.

FLOATING ELECTRICITY

Iraq’s electricity ministry has ordered two floating power plants from Turkey to help ease the country’s ongoing energy shortages. The vessels, which will be moored in Basra, are expected to add several hundred megawatts of generation capacity to the grid when they come online later this year, Bloomberg reports. Iraqi authorities noted that demand for electricity has surged during the summer, leading to extended periods of blackouts across several provinces. The order with Turkey’s Karpowership is part of a wider push to expand generation capacity through quick-deployment projects and international partnerships.

Public Investment Fund: Humain, a Saudi artificial intelligence company backed by the PIF, said it’s looking to hire a head of data centers in Riyadh as it plans scale up operations.

Aramco: Amin Nasser, CEO and President of the Saudi oil company, told Al-Arabiya that Aramco has projects under development worth nearly $90 billion and is pushing ahead with a massive investment program inside the kingdom and internationally.

Oman Investment Authority: Oman’s Asyad Ports has invited consultants for conducting geotechnical investigations to acquire environmental permits for expanding the Suwaiq Port to accommodate wide vessels.

XRG: Australia’s Santos shares dropped after another delay in the $19 billion takeover bid led by Abu Dhabi’s XRG, which said it’s still conducting due diligence due to the size of the transaction, Bloomberg reports.

G42: Presight, a G42 company, has launched an AI-Startup Accelerator Bootcamp in Abu Dhabi, bringing together 10 global startups for a three-day program that kicks off months-long mentoring relationships.

💰 Property Fund: Egypt’s Madinet Mas announced plans to launch a $6.2 million real estate investment fund in Saudi Arabia as part of its strategy to expand growth opportunities in the kingdom.

✈️ Europa Stake: Turkish Airlines’ $349 million offer to acquire a minority stake in Air Europa has been accepted, with the deal now moving to documentation and closing procedures.

📊 Working Together: Middle East and North Africa mergers and acquisitions rose to $58.7 billion in the first half of 2025, driven by sovereign wealth funds, cross-border flows, and strong deal activity in the UAE and Saudi Arabia, according to an EY MENA M&A Insights report. 

🏝️ Eco-Luxury: The Sharjah Investment and Development Authority has plowed $82 million into the Sharjah Collection of seven luxury eco-retreats.

🏢 New Shop: Warburg Pincus received full authoritization to operate in Dubai as the firm looks to expand in the Middle East.

🛢️ Exploration: Iraq signed an agreement in principle with Chevron to explore and develop the Nassiriya oil project, covering four new exploration blocks and the expansion of existing producing fields.

🏦 Gulf Expansion: MultiBank Group is opening a new Abu Dhabi office to enhance client access, local support, and relationship management, reinforcing its global presences.

📈 IPO Revival: A 16% rally since April on the Muscat Securities Market and Oman’s recent lift to investment grade by two international credit rating agencies is boosting optimism for a new series of government-backed IPOs, Bloomberg reports.

🤝 Industrial Ties: Saudi Arabia and Syria agreed to establish joint working groups aimed at expanding industrial cooperation and promoting economic integration through new investments and knowledge-sharing initiatives.

💊 Drug Problem: Syria’s new Islamist leaders are waging an aggressive battle to dismantle the narco-state built by former President Bashar al-Assad, which particularly infuriated the Gulf Arab states, who complained about the damaging impact of the drug captagon on their societies, the Financial Times reports.

Saudi Crown Prince Mohammed bin Salman held a phone call on Tuesday with Russian President Vladimir Putin to discuss his talks with U.S. President Donald Trump.

Egyptian President Abdel Fattah al-Sisi held a meeting with Hassan Abdalla, Governor of the Central Bank of Egypt, to discuss continued efforts to boost foreign currency inflows and sustain declining inflation trends.

Nir Zuk, the Israeli founder of cybersecurity leader Palo Alto Networks, stepped down as CTO and board member, as the firm finalizes its $25 billion acquisition of CyberArk.

Syrian Foreign Minister Asaad al-Shibani met an Israeli delegation in Paris on Tuesday to discuss de-escalating conflict in southern Syria, according to Syria’s state news agency SANA.

Christoph Berentzen has been named the new CFO of Dubai’s TECOM Group, a developer of business districts across the emirate.

🍽️ DINNER DATE: Qatar’s Museum of Islamic Art has opened a new exhibition called “A Seat at the Table,” which examines culinary traditions across the Islamic world and highlights the role of food in ritual, hospitality and daily life. With an elaborate sultan’s feast laid out on a long tribal rug in the central gallery, the show features lavish serving vessels, cooking tools, manuscripts, ceramics and textiles, Arab News reports. The exhibition was developed with the Los Angeles County Museum of Art and runs through November.

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

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

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

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

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

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

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

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

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

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

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

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

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

ARABIAN HQ

Chinese PC maker Lenovo is joining the parade of international firms responding to Saudi directives that they establish their regional headquarters in the kingdom. The company is teaming up with Alat, a unit of Saudi Arabia’s Public Investment Fund, to build a manufacturing facility for PCs, laptops, smartphones, and servers. Headed by Lenovo veteran Lawrence Yu, the office will aim to reinforce the Chinese company’s presence and manufacturing capabilities in the Middle East, Reuters reports. Saudi Arabia implemented new rules this year that require international firms to establish a regional HQ in the country as a condition for receiving government contracts.

WHAT’S COOKing

Gordon Ramsay, the Michelin-star British chef, will open three branches of his international culinary school in Saudi Arabia by the end of this year. Alkhaleej Training and Education, a Saudi company, paid $749,000 for an exclusive right to operate Gordon Ramsay Academy branches in Riyadh, Jeddah, and Al Khobar, Arabian Gulf Business Insights reports. The school will provide support on operations, culinary training, branding and marketing to meet international standards under the 10-year renewable agreement. First opened in 2021, Ramsay operates a London branch on the 58th floor of the city’s 22 Bishopsgate skyscraper.

Investment Corp. of Dubai: Chase Bank will remove Emirates as a transfer partner in its credit card rewards program as the Dubai-based airline makes changes in its approach to its passenger points systems.

Qatar Investment Authority: Ooredoo, which is majority-owned by the Qatari sovereign wealth fund, is starting to build a submarine cable landing station in Oman’s southern city of Salalah, positioning the country as an international connectivity hub linking Asia, Europe and Africa.

Qatar Airways: The state-owned carrier will open its first dedicated lounge in the U.S. in the new international terminal being built at New York’s Kennedy Airport.

🖥️ Digital Shift: Misr Digital Innovation received approval from the Central Bank of Egypt to operate under the name “onebank” as the country’s first fully digital bank.

🌙 Changing Sides: Gulf Bank, Kuwait’s third-largest lender, has received one-year initial approval from the central bank to convert into an Islamic bank, pending completion of regulatory and operational requirements.

🪙 DataDeal: British engineering firm Turner & Townsend landed a contract to provide project and cost management services for a hyperscale data centre developed by telecom operator du in Dubai.

🏝️ China’s Lake: China State Construction Northeast Design and Research Institute won the bid for the Lake Island project in El Alamein New City in Egypt.

🌐 Crime Tech: IVIX, an Israeli startup whose AI-based platform helps global agencies uncover hidden financial networks linked to crimes such as money laundering and sanctions evasion, raised $60 million in a Series B funding round led by OG Venture Partners.

⚽ Sports Tower: Saudi Arabia has opened bids for building the world’s tallest sports tower, a 130-meter-high structure planned by the government’s Sports Boulevard Foundation, which will be built within Riyadh’s new Athletics District.

💪 Better Boss: Leading design studios in Saudi Arabia and the UAE are adopting values-driven, people-focused management styles to build stronger teams and deliver better creative results, AD Middle East reports.

🛰️ Local Defense: Saudi Arabian Military Industries signed a cooperation deal with U.S.-based Amentum to provide land defense systems, maintenance and spare parts in the kingdom.

🚄 Solar Train: UAE-based Railbus is building a 50,000 sq ft hi-tech innovation hub in Dubai Silicon Oasis, expected to open next May, to drive development of its solar-powered, autonomous urban transport systems.

💎 Pink Diamond: Dubai Police foiled a year-long plot to smuggle a stolen 21-carat rare pink diamond worth $25 million, arresting the gang behind the scheme.

Egypt’s President Abdel Fattah El-Sisi held a meeting in Cairo on Monday with Sheikh Nasser bin Hamad Al Khalifa, Bahrain’s National Security Adviser and Commander of the Royal Guard, and Sheikh Khalid bin Hamad Al Khalifa, Commander of Special Operations.

Hassan Abdallah, Governor of the Central Bank of Egypt, had his term extended into a fourth year, an effort by the government to signal stability to foreign investors.

Larry Fink, CEO of BlackRock, strengthened his influence in Saudi Arabia by personally shepherding last week’s $11 billion leaseback deal with Aramco, positioning the New York asset management firm to further build its presence in the kingdom, Bloomberg reports.

Zeeba Askar has been named the Bahrain Association of Bank’s new CEO. She was previously ​​Chief Investment and Sustainability Officer at Infracorp Bahrain and currently holds the position of President of the CFA Society Bahrain.

Rashid Ghanem Al Shamsi, an Emirati adventurer, raised the UAE flag atop Russia’s Mount Elbrus, Europe’s highest peak at 5,642 meters above sea level.

🎞 Golden Age: Egyptian star Amr Youssef leads the heist film “Darwish,” which premieres in Cairo this week and portrays a slick con artist whose final jewel-theft caper spirals out of control. Youssef tells The National that the film evokes the emotional depth and charm of Egypt’s golden-age cinema, offering elegance, character, and consequence, in stark contrast to today’s superhero-filled blockbusters. The Arabic-language movie, directed by Walid El-Halafawy, opens in Gulf theaters Aug. 28.

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

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

TURTLE TROUBLE

Environmentalists have won a temporary halt to construction on a portion of the $35 billion development of Egypt’s Ras al-Hekma coastal enclave as a tourism resort. Financed through a consortium led by Abu Dhabi sovereign wealth fund ADQ, the sprawling project is one of the showpieces of President Abdel Fattah El-Sisi’s efforts to sell off state lands to pay Egypt’s enormous debt. Construction crews were stopped in March from proceeding with work on Ras Hankorab, a beach known as a refuge for its endangered green turtles and eroding coral reef, Agence France Presse reports. While the dispute is being adjudicated, the new private developers of Hankorab have increased entry fees fivefold and are waiting to resume construction.

ENTERING INDIA

Investors in the UAE are showing greater interest in Indian markets. To cultivate Emirati business, Kotak International, the global arm of India’s third-largest private lender Kotak Mahindra said it plans to launch India-focused retail funds in the UAE. Kotak announced on Monday that it’s been granted a license by the UAE’s Securities & Commodities Authority to sell investment funds and portfolios to onshore retail investors, the first Indian firm authorized for such sales. Shyam Kumar, President of Kotak International, told Reuters that India’s young, working population is appealing for foreign investors. “India has got a story which is extremely wide and diversified,” Kumar said.

Public Investment Fund: Saudi Arabia’s tourism industry is deploying artificial intelligence and immersive technologies across key projects such as PIF-owned Neom and Red Sea Global to enhance visitor services and boost a more diverse range of attractions.

Masdar: Abu Dhabi Future Energy Company, known as Masdar, said in its 2024 Green finance report that it has allocated about $1.7 billion in green bond proceeds to new solar, onshore and offshore wind, and energy storage. Besides the UAE, the projects receiving the money are in countries including Saudi Arabia, the U.S., Germany, the U.K., Uzbekistan, Azerbaijan and Serbia.

Aramco: Saudi Aramco CEO Amin Nasser told Al Arabiya Business said that the energy giant has nearly $90 billion in mega projects underway, with natural gas output set to grow 60% by 2030.

📈RAK Growth: Real estate developers in Ras Al Khaimah reported strong profits in the second quarter, with RAK Properties nearly doubling net income to $25.2 million as Wynn Resorts’ construction of the UAE’s first casino attracts interest from property companies.

🚕Taxi Sale: Israeli ride-hailing and delivery platform Gett has been sold for $190 million to a consortium of six investors, with the buyers assuming a $70 million cash reserve and completing the deal without due diligence.

💼Broker License: VT Markets, a retail broker has received a UAE Securities and Commodities Authority Category 5 license, allowing it to market financial products and introduce business in the region without holding client funds or dealing securities.

☀️Looking Solar: Infrastructure investor Stonepeak has launched WahajPeak, a new platform to develop large-scale solar, wind, and battery projects across the Middle East and North Africa, led by Mothana Qteishat from its Abu Dhabi and Riyadh offices, Semafor reports.

🛢️Shale Advance: Algeria is close to striking agreements with Exxon Mobil and Chevron to develop its extensive gas reserves, including its first-ever exploration of shale gas opportunities.

🤝Economic Lift: Nearly two-thirds of Syrian asylum-seekers who arrived in Germany a decade ago are now employed, contributing to the country’s labour force and economic growth. 

🪖Service Return: Jordan plans to reactivate national military service for men aged 18 to 40, reinstating conscription which was suspended in 1991.

💸Investor Losses: UAE investors have reported losing substantial funds after UK-based 79th Group closed its Dubai office and became the subject of a fraud investigation.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and the UAE’s Minister of Defense and Deputy Prime Minister, attended the Global Champions Arabians Tour, one of the biggest international Arabian horse shows, over the weekend in London. Also at the event were Sheikh Jassim bin Hamad, Personal Representative of the Emir of Qatar, and Sheikh Joaan bin Hamad, President of the Qatar Olympic Committee.

Sheikh Sultan bin Ahmed, Deputy Ruler of the UAE emirate of Sharjah and Chairman of the Judicial Council, met on Sunday morning with Adnan Fanjari, Egypt’s Minister of Justice, at the Ministry’s office in Egypt’s New Administrative Capital.

Sheikh Mohammed bin Abdulrahman, Qatar’s Prime Minister, is heading to Egypt for a five-day visit to discuss a ceasefire between Israel and Hamas, Bloomberg reports.

Sheikh Zayed bin Mohamed bin Zayed, Chairman of the Office of Development and Martyrs Families Affairs at the Presidential Court received Hamza Chimaev, the Emirati MMA fighter who was crowned World Middleweight Champion at UFC 319 in Chicago on Sunday.

Klaus Schwab, founder and former Chairman of the World Economic Forum was cleared of material wrongdoing following an external review. The Geneva-based organization, which runs the annual Davos conference, named Blackrock’s Larry Fink and Roche Holding Vice Chairman Andre Hoffmann as the WEF’s interim co-chairs.

Erik Prince, founder of Blackwater, has re-entered the private military sector, launching a new firm to undertake overseas security assignments that are not being funded by the U.S. government, The Wall Street Journal reports.

Hossam Heiba, CEO of Egypt’s General Authority for Investment and Free Zones, told Egypt Today in an interview that the country is preparing to expand its network of public free zones, with four new zones scheduled to begin operations by the end of 2026 targeting export worth $140 billion by 2030.

Mohammad Nidal Al-Shaar, Syria’s Minister of Economy and Industry will lead a delegation to Riyadh on Monday as a follow up on the Syrian-Saudi Investment Forum that was held last month in Damascus.

🥾Tread Carefully: Khaled Esguerra wants visitors to step into the Ishara Art Foundation’s “No Trespassing” show and walk all over his collage of 800 sheets of paper, which carry words such as “heritage,” “legacy,” and “authentic.” Esguerra tells Arab News that his work is a critique of urban redevelopment projects. “I wanted [visitors to the exhibition] to be confronted by this vocabulary and question their role in these manufactured changes in historic neighborhoods,” he said. The Dubai show features five other artists and runs until Aug. 30.

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

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