DEPARTING GOLDMAN

Fadi Abuali, Goldman Sachs’ Co-CEO for MENA, is leaving the bank after nearly 28 years, Bloomberg reports. Abuali helped expand Goldman’s presence in the region, including opening an Abu Dhabi office in 2023 and securing a regional headquarters license in Saudi Arabia last year. His departure follows a wave of leadership changes across Goldman’s Middle East operations, including the exits of Khalid Albdah to Neuberger Berman and Mohammad Al Fahim to BlackRock. Abuali also co-led Goldman Asset Management’s international arm alongside global head Marc Nachmann.

CLUB HIT

Saudi Arabia is cracking down on nightlife venues in an apparent move to calm the conservative backlash against loosening social strictures in the kingdom. At least two dozen so-called lounges, where male and female customers can enjoy live music and shisha, have been closed by authorities in Riyadh and Jeddah, citing “serious violations” of public health and hygiene codes, The Financial Times reports. Lounges, which have spread across the cities since Saudi Arabia started liberalizing under Crown Prince Mohammed bin Salman, have drawn the ire of social conservatives, who see them as seedy dens where men and women mingle and potentially drink illicit alcohol, which remains illegal in the kingdom despite regular rumors that the ban will be lifted. Meanwhile, an executive from Red Sea Global has weighed in on the alcohol debate, telling Arabian Gulf Business News that the company’s resorts do not need to introduce alcohol to attract luxury tourists. 

Public Investment Fund: Humain, a Saudi artificial intelligence company owned by the PIF, is holding early discussions with private equity firms including Blackstone and KKR on a multibillion-dollar partnership to invest in data centers and infrastructure, Bloomberg reports.

Qatar Investment Authority: The sovereign wealth fund is closing in on a deal to buy a minority stake in Canada’s Ivanhoe Mines, Bloomberg reports. 

Abu Dhabi Investment Authority: ADIA is moving to take advantage of growth in second-hand stakes in private equity, the Abu Dhabi sovereign fund said in its 2024 review. So-called “secondaries” are transactions where an investor buys out an existing private equity fund interest from another investor.

💰Beauty Queen: Dubai-based beauty and wellness startup Amaani has secured $3 million in seed funding, backed by Peak XV’s seed platform, Surge, for its debut brand AÏZA. 

🤝 Credit Access: MNT-Halan’s UAE unit is partnering with financial infrastructure provider Lean Technologies to expand credit access for both individuals and small businesses, Bloomberg reports. 

🛒 Closed Down: Carrefour Kuwait announced on Instagram that it closed all stores in the country on September 16, two days after the French supermarket chain shut up shop in Bahrain.

⛽ Gas Pipeline: Chevron signed an agreement with Israel Natural Gas Lines to build a new pipeline linking Israel’s offshore gas fields to Egypt, with exports expected to start by 2027, Reuters reports.💵 Cyber Funding: Vega, an Israeli cybersecurity startup, raised $65 million in a funding round led by Accel that valued the company at $400 million, Calcalist reports.

🏢 Wealth Target: HSBC is opening a wealth center in Dubai to capture the UAE’s booming wealth management market, The National reports. 

🌍 Moving East: Hypercycle Global, a company that helps in adopting AI, is relocating its headquarters from the U.S. to Abu Dhabi after some Emirati investors and institutions acquired stakes in the company. 

𖥂 Selling Jets: The U.S. has eased export rules on advanced military drones, reclassifying them as fighter jets rather than missiles to bypass an international arms control pact, unlocking major sales to Saudi Arabia and paving the way for deals with the UAE, Europe and the Pacific.

✂️Shaky Ground: Turkish authorities detained 14 people, including former Wall Street trader Isik Okte, over alleged stock manipulation tied to Investco Holding, sending shares in three companies tumbling to their trading limits, Bloomberg reports.

🌍 Unsustainable Goals: Two years after the COP28 climate conference in Dubai, the world has grown weary of the ambitious environmental agenda set in the 2015 Paris Agreement and is unlikely to meet its goals, The New York Times reports.

UAE President Sheikh Mohamed bin Zayed visited several historical and natural landmarks in the city of Shusha, located in Azerbaijan’s Karabakh region, accompanied by Ilham Aliyev, President of Azerbaijan, on Tuesday.

Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, inaugurated Hilton’s new main office in the emirate, calling attention to tourism as a key pillar of economic growth.

Saudi Arabia’s King Salman bin Abdulaziz issued a directive to name the airport road in Medina after Crown Prince Mohammed bin Salman.

Qatar’s Emir Sheikh Tamim traveled to Jordan to meet King Abdullah, accompanied by Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman.

Mariam bint Mohammed Almheiri, Chairman of the International Affairs Office at the UAE Presidential Court and Group CEO of 2PointZero, has joined the Board of Alpheya, the Abu Dhabi-based WealthTech platform backed by BNY and Lunate.

Fawzi Yousef AlHunaif was appointed as the Director General and Chairman of Kuwait’s Arab Fund for Economic and Social Development.

Panos Loupasis was appointed Vice President of Development for Middle East, Africa and Asia at United Hospitality Management.

🎥 Lights, Camera, Action: Emirati producer and actor Mohamed F Mostafa is setting up a company in Abu Dhabi to produce action films with British filmmakers Jadey Duffield and Neil Marshall, a director of Emmy-nominated episodes of “Game of Thrones,” The National reports. The projects, to be produced under the directors’ U.K.-based company Art of Action, include a desert survival thriller called “Skeleton Coast” and a whodunnit called “Blackout.” Mostafa said he wants to ensure talented Emiratis are embedded in each project – both as actors and production crew. “We just have to cherry-pick the right ones and prove that this can be done,” he told the newspaper.

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. 23-25, Dubai. ArabLab. The Middle East and Africa’s longest-running event dedicated to the laboratory and analytical industry. Dubai World Trade Center. 

Sept. 24, Abu Dhabi. Syria Recovery and Investment Forum – Abu Dhabi Edition. Convening influential business leaders, regional investors, policymakers, and advisory experts to explore practical avenues for engagement in Syria’s recovery. ADNEC. 

Sept. 30- Oct.1, Abu Dhabi. MENA Investment Congress. Hosted by the CFA Society in the UAE, the event brings together investors to discuss new strategies. Rosewood Hotel.

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

Sept. 30-Oct.2, Dubai. WETEX. The region’s biggest exhibition dedicated to sustainability and clean energy technology. Dubai World Trade Center. 

Oct 1-2, Dubai. World Green Economy Summit. Supporting international cooperation in the face of pressing global challenges. Dubai World Trade Center.

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 27-30, Riyadh. Future Investment Initiative, 9th Edition. Investors, corporate executives, cabinet ministers and political leaders from around the world attend Saudi Arabia’s flagship business conference. King Abdulaziz International Conference Center.

SILICON SCHEME

Two deals with the UAE involving cryptocurrency and computer chips are likely to be profitable for U.S. President Donald Trump, The New York Times reports. One involves a $2 billion transaction by a government-backed Emirati firm using a cryptocurrency offered by World Liberty Financial — a company founded by the families of President Trump and his Middle East envoy, Steve Witkoff. The other is a pending sale of the world’s most valuable artificial intelligence chips to the UAE. There is no evidence that one was explicitly offered in return for the other, but the Times said they were being negotiated at the same time and may provide a windfall for the Trump and Witkoff families.

FINTECH FINANCING

Saudi Arabian buy-now-pay-later company Tamara secured up to $2.4 billion in financing from backers including Goldman Sachs, Citi and Apollo in what the company described as the largest syndicated debt deal by a Middle East fintech firm. The Sharia-compliant deal will refinance and increase a previous $500 million asset-backed facility, helping the company to expand its credit and payment products beyond 20 million customers, Reuters reports. The package, announced at the Money 20/20 Middle East conference in Saudi Arabia on Monday, includes an initial $1.4 billion, with a further $1 billion available. Fintech deal activity in the MENA region increased 69% year-on-year for the first half of 2025, according to MAGNiTT.

Public Investment Fund: Saudi Arabia’s Hassana Investment Company partnered with AviLease, the aircraft lessor owned by the PIF, to establish a dedicated aircraft leasing joint venture.

Oman Investment Authority: Oman India Fertiliser Co. has begun early preparations for a potential Muscat IPO, part of Oman’s broader push to privatize state assets, Bloomberg reports. OMIFCO is 50% owned by Oman’s main energy firm OQ, alongside Indian agricultural cooperatives IFFCO and Kribhco.

Oman Investment Authority: The sovereign wealth fund launched an Energy Transition Fund in Oman with Hong Kong-based Templewater as a partner to support renewable power projects.

Qatar Investment Authority: Ben Dunn, head of quantitative strategies at Eastspring Investments, left the firm after 11 years to join the Qatar Investment Authority as associate director for managed portfolios.

💰 Payment Expansion: Saudi Arabia’s central bank announced that Google Pay will launch nationwide and signed an agreement with Ant International to enable Alipay+ by 2026, both using the kingdom’s National Payment System, known as mada.

⚡ Energy Deals: Egypt signed three oil and gas agreements worth more than $121 million with international companies, with Petroleum Minister Karim Badawi overseeing the signings by the Egyptian General Petroleum Corp.

🤝 Regional Partners: UAE’s Al Futtaim has acquired a 49.95% stake in Saudi Arabia’s Cenomi Retail for $670 million.

📈 Revenue Target: Syrian Finance Minister Yisr Barnieh said the government expects state-owned economic enterprises to contribute some $2 billion annually to the national budget within three years.

✈️ Fly Europe: Dubai based carrier Flydubai has signed a strategic interline agreement with Romania’s TAROM, offering passengers access to 15 destinations via Bucharest International Airport.

❄️ Cool Returns: Dubai-listed National Central Cooling Company, known as Tabreed, announced its first-ever interim dividend of $50.4 million for the first half of 2025.

🛒 Closing Shop: Carrefour has ceased all operations in Bahrain following previous closure in Oman and Jordan. Majid Al Futtaim, which operates the French brand in the region, plans to launch its flagship grocery brand HyperMax at six locations across Bahrain.

UAE President Sheikh Mohamed bin Zayed arrived in the Karabakh region today on an official visit to Azerbaijan, where he was welcomed at the Fuzuli International Airport by Azerbaijan’s President Ilham Aliyev.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, attended the extraordinary meeting of the Gulf Cooperation Council in Qatar on behalf of the UAE President.

Sheikh Mansoor bin Mohammed, Chairman of the Dubai Sports Council, launched a challenge for designers and creatives residing in the UAE to design a new visual identity for the DSC.

Prince Guillaume Jean Joseph Marie, Hereditary Grand Duke of Luxembourg, visited the headquarters of the King Salman Humanitarian Aid and Relief Center in Riyadh on Monday. He also attended the launch ceremony of the second phase of the global “Messengers of Peace” initiative, backed by Saudi Arabia.

Fayik Abdi, Saudi Arabia’s first skier to compete in the Winter Olympics, was recruited by Riyadh-based Sahm Capital to be the fintech firm’s brand ambassador.

Khalaf Al-Habtoor, the Emirati billionaire businessman, has changed his plan to dismantle Beirut’s Metropolitan Palace Hotel, which he has owned since 2000, and ship it out of Lebanon. After touring the hotel and meeting with Lebanese President Joseph Aoun, Al-Habtoor said he will relaunch the project instead.

Nir Zuk, founder of Palo Alto Networks, announced plans to open a digital bank in Israel called Esh in 2026, promising an “Equal Sharing” model with no fees and full transparency.

Kumail Al Musawi has been appointed as Chief People Officer of Oman Air, the national carrier of the Sultanate.

🎤 Rap Tribute: Canadian rapper Drake samples famed Lebanese singer Fairuz on his ninth studio album, “Iceman,” previewing a track that features her iconic 1979 song “Wahdon” during a recent livestream, The National reports. By incorporating one of the Arab world’s most celebrated artists into his raps, Drake is already sparking a heated debate online. More than 30 years ago, Madonna faced a backlash resulting in a $2.5 million legal settlement and a ban from Lebanon after using one of Fairuz’s hymns without permission on her 1992 album “Erotica.”

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 15-17, Riyadh. Money 20/20. Shaping what’s next for money, finance, and tech in the region. Riyadh International Convention and Exhibition 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. 23-25, Dubai. ArabLab. The Middle East and Africa’s longest-running event dedicated to the laboratory and analytical industry. Dubai World Trade Center. 

Sept. 24, Abu Dhabi. Syria Recovery and Investment Forum – Abu Dhabi Edition. Convening influential business leaders, regional investors, policymakers, and advisory experts to explore practical avenues for engagement in Syria’s recovery. ADNEC. 

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

Sept. 30-Oct.2, Dubai. WETEX. The region’s biggest exhibition dedicated to sustainability and clean energy technology. Dubai World Trade Center. 

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 27-30, Riyadh. Future Investment Initiative, 9th Edition. Investors, corporate executives, cabinet ministers and political leaders from around the world attend Saudi Arabia’s flagship business conference. King Abdulaziz International Conference Center.

AI MISSION

Dubai has sent 50 chief artificial intelligence officers from government agencies on a 10-day trip to study technology use in the U.S. The group is scheduled to visit Google, Meta, OpenAI, Palantir, Nvidia, IBM, Amazon and Microsoft. Minister of State for Artificial Intelligence Omar Al Olama said in a statement that the trip underlines the UAE’s commitment to help integrate AI throughout government and business. The trip was organized by the UAE Office of Artificial Intelligence, Digital Economy and Remote Work Applications and the Dubai Center for Artificial Intelligence.

COPYCAT CHOCOLATE

The U.K.’s Food Standards Agency is fighting a scourge of counterfeit Dubai Chocolate. Among the raft of cases being investigated is a phony version of the wildly popular snack made by UAE-based Le Damas Sweets, The National reports. The fake chocolate mimics Le Damas’s packaging and includes a UAE flag tucked inside, but contains peanuts, which are not part of the original product, and is missing nut allergen warnings that are required in the U.K. Dubai Chocolate, which became an international viral sensation last year, was first made in the UAE by British-Egyptian entrepreneur Sarah Hamouda’s Fix Dessert Chocolatier’s Fix Dessert Chocolatier as a knafeh-filled chocolate bar mixed with pistachios.

ADQ: Serdal International, a joint venture of AD Ports Group and Abu Dhabi-based Resources Investment, launched a new passenger ferry service in the Comoros island archipelago in East Africa which will also be the first to also transport vehicles.

ADNOC: ADNOC Logistics and Services, a subsidiary of Abu Dhabi’s national oil company, will deploy an AI-powered “Smart Port Solution” to improve petroleum port operations. 

Mubadala: Mamoura Diversified Global Holding, a unit of Abu Dhabi’s Mubadala sovereign wealth fund, raised $858 million from its stake in Du telecom via a secondary share sale, Reuters reports.

Abu Dhabi Investment Council: Ben Samild will join ADIC, a unit of Mubadala, taking an unspecified executive role after resigning as Chief Investment Officer of Australia’s $168 billion sovereign wealth fund, Bloomberg reports.

🏢 City Projects: Kuwait has invited bids for the construction of three new cities intended to relieve housing shortages.

⛽ Gas Expansion: Iraq’s Basrah Gas Company asked IFC, a member of the World Bank Group, to lead a second loan of up to $500 million to further advance one of the world’s largest gas flaring reduction projects.

📈 Market Debut: Israeli mobility platform Via rose 7.6% on Friday on its first day of trading after completing an IPO on Nasdaq.

🛢️ Pipeline Funding: Kuwait Petroleum Corp. is weighing plans to raise as much as $7 billion by leasing part of its pipeline network to support a $65 billion investment program spanning upstream production and petrochemicals, Bloomberg reports.

📈 IPO Preparations: Dubai property developer Binghatti Holding Ltd. has begun groundwork for a possible IPO, Bloomberg reports.

🏗️ Engineering Stake: Alec Holdings, a Dubai-based engineering and construction group, plans to list 20% of its shares via an IPO on the Dubai Financial Market.

🤝 Raising Debt: Saudi Arabia-based fintech Tamara is set to secure at least $1.4 billion in asset-backed financing from lenders including Goldman Sachs, Citigroup and Apollo, in one of the Middle East’s largest such deals, Bloomberg reports. 

🏍️ Engineering Stake: Food delivery company Talabat resumed operations in Qatar on Sunday after a week-long suspension by the Ministry of Commerce and Industry. 

UAE President Sheikh Mohamed bin Zayed met in Dubai on Sunday with the family of Hussain Khansaheb, founder of the Khansaheb construction and engineering firm, to offer condolences after Khansaheb’s death. 

Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai, released the first part of his new book, “Almatani Alhayah,” Arabic for “Life Taught Me,” which will comprise 35 chapters about his career and philosophy.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, UAE Minister of Defense, Deputy Prime Minister, inaugurated the first international campus of the Indian Institute of Management Ahmedabad at Dubai International Academic City.

Sheikh Nahyan bin Mubarak, UAE Minister of Tolerance and Coexistence, attended a celebration honouring the Iranian community in the country, alongside Alireza Mahmoudi, the Consul General of Iran in Dubai and the Northern Emirates.

Ray Dalio, the billionaire founder and former CEO of Bridgewater Associates, said during the launch event for Abu Dhabi Finance Week 2025, which is in December, that the single most important principle an investor should be following is diversification, “particularly at a time of current uncertainty.”

Rashid Matar Al Manai, CEO of Abu Dhabi-based drone manufacturer Lodd, told Khaleej Times that the company is developing autonomous drones for parcel and cargo delivery to be launched by next year.

Bassam Al Tattan has been appointed Head of Private Banking at the National Bank of Bahrain. 

Ricky Hatton, the former British welterweight boxing champion, has died at the age of 46, three months before he was due to return to the ring for the “Destiny in the Desert” bout in Dubai against the UAE’s Eisa Al Dah.

🎤 Funny Festival: The full line-up for next month’s Dubai Comedy Festival has been announced, with American comedian and podcaster Andrew Schulz and Canadian comic Hassan Phills among the latest names to be finalized. The festival, which runs Oct. 2-12, has become a fixture in the Dubai cultural events calendar, drawing major international stars. Shows will take place at venues including Dubai Opera, Coca-Cola Arena and Mall of the Emirates.

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 15-17, Riyadh. Money 20/20. Shaping what’s next for money, finance, and tech in the region. Riyadh International Convention and Exhibition 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. 23-25, Dubai. ArabLab. The Middle East and Africa’s longest-running event dedicated to the laboratory and analytical industry. Dubai World Trade Center. 

Sept. 24, Abu Dhabi. Syria Recovery and Investment Forum – Abu Dhabi Edition. Convening influential business leaders, regional investors, policymakers, and advisory experts to explore practical avenues for engagement in Syria’s recovery. ADNEC. 

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

Sept. 30-Oct.2, Dubai. WETEX. The region’s biggest exhibition dedicated to sustainability and clean energy technology. Dubai World Trade Center. 

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 27-30, Riyadh. Future Investment Initiative, 9th Edition. Investors, corporate executives, cabinet ministers and political leaders from around the world attend Saudi Arabia’s flagship business conference. King Abdulaziz International Conference Center.

BEAN COUNTER HQ

Professional services firm PwC unveiled its sleek new regional headquarters in Riyadh this week as it vowed a “strengthened commitment” to the kingdom. The Big Four firm has been scrambling to repair its relationship with Saudi Arabia’s Public Investment Fund since February, when the sovereign wealth fund banned it from any new advisory work for one year. While no official reason was given, PwC reportedly ruffled feathers when it attempted to recruit one of the fund’s senior executives working on the $500 billion Neom megaproject, where it was hired as a consultant. The suspension does not apply to the firm’s audit services. The new regional headquarters in Laysen Valley includes an experience center, forensics lab, PwC Academy, Majlis and wellness spaces.

ROAD TO MUSCAT

Oman will launch two new platforms in Asia to strengthen cross-border investment, including a Central Asia-focused fund with major Chinese participation. Speaking at the 10th Belt and Road Summit in Hong Kong, Ibrahim Al-Eisri, the Oman Investment Authority’s Chief Investment Officer of Private Markets, said the sovereign wealth fund has already collaborated with Chinese partners to establish three Oman-based investment funds with a combined value of nearly $700 million. He said the forthcoming Central Asia fund, with a Chinese limited partner, will build on OIA’s 15-year presence in the region. Oman’s strategic location, low energy costs and port infrastructure are appealing to Chinese partners, he said.

ADNOC: Abu Dhabi’s national oil company transferred stakes in some of its listed subsidiaries to its international investment arm XRG, consolidating ownership as the company strengthens its overseas portfolio, Reuters reports.

Public Investment Fund: Diriyah Co., the PIF-backed company developing a historic district of Riyadh, said it awarded $5 billion in contracts in the first half of 2025.

Investment Corp. of Dubai: Dubai Investments, which is backed by the investment arm of the Government of Dubai, is in talks with banks to sell shares of its Dubai Investment Park property unit on the stock market.

EDGE Group: MP3 International, a unit of the UAE’s state-owned military contractor, signed an agreement with India’s Kalyani Strategic Systems to buy artillery equipment.

🔌 Power Grid: The GCC Interconnection Authority and Sohar International Bank signed a $500 million financing agreement to build a 530 km, 400-kilovolt transmission line linking the UAE’s Al-Sila station with Oman’s planned Ibri station.

🩺 Nursing Search: TERN Group, a Dubai-based healthcare recruitment startup, raised $24 million in a Series A funding round led by U.K.-based Notion Capital.

💻 AI Support: Quack, an Israeli startup that develops proactive AI agents for customer support, raised $7 million in a seed funding round led by Hanaco Ventures and Storytime Capital.

🏝️ Strategic Decisions: Eshraq Investments sold land plots on Abu Dhabi’s Al Reem Island to Blue Lake Properties and Al Ain Properties for $72 million.

🧑🏽‍💻 Tech Hub: Oman is launching a $250 million AI-focused special economic zone in Muscat’s Seeb area, with Egypt’s Prime Group and local firm Afouq investing.

🍦 Icecream Overhaul: Dubai-based IFFCO Group, which is behind popular food brands including London Dairy, is seeking to restructure at least $1.5 billion in debt and has brought in Alvarez & Marsal as an advisor, Bloomberg reports.

🛵 Missing Delivery: Dubai-listed Talabat’s shares fell on Thursday and Friday after Qatar’s Ministry of Commerce and Industry suspended its food delivery operations in the country over unspecified “repeated violations.”

🌐 Fast Net: Starlink, the satellite internet firm led by billionaire Elon Musk, will now provide internet services in Lebanon after the cabinet granted it a license to operate.

🏢 Dubai Base: Fynd, India’s leading AI retail technology company, launched its Dubai operations with a new regional headquarters in Dubai CommerCity, supported by a partnership with Yavi Technologies. 

📈 Internal Audit: The Abu Dhabi Accountability Authority has updated its Internal Audit Rules to promote digital transformation, mandate data analytics for more effective oversight, and regulate audit firm appointments to ensure transparency and quality.

🛩️ Grounded: Israel Aerospace Industries, Elbit Systems and other Israeli arms-makers have been barred from the Dubai Air Show amid angry reactions in the region to Israel’s attack on Hamas negotiators meeting in Qatar, Bloomberg reports.

UAE President Sheikh Mohamed bin Zayed held a phone call with France’s President Emmanuel Macron. 

Sheikh Mohammed bin Abdulrahman, Qatar’s Prime Minister and Foreign Minister, will meet with U.S. Secretary of State Marco Rubio and other officials in Washington on Friday to discuss the latest developments in his country.

Reem Al Hashimy, UAE Minister of State for International Cooperation, made an official visit to New Delhi, where she met with Vikram Misri, Foreign Secretary at India’s Ministry of External Affairs. 

Lulzim Mjeku, Kosovo’s Ambassador to Saudi Arabia, told Arab News that direct flynas flights between Jeddah and Pristina will begin operating three times a week on Oct. 1, presenting a new business opportunity between the countries.

Imad Matarneh was appointed Chairman of the King Hussein Business Park in Jordan.

🎨 Art Zone: Galleries from around the world are flocking to exhibit their work at the annual Abu Dhabi Art Fair, which is set to open in November at the UAE capital’s Manarat Al Saadiyat cultural space. This year, the event will spotlight contemporary art in the Gulf, as well as from more than 30 countries including Nigeria, Algeria, Senegal, Tanzania, the Netherlands, and Peru, The National reports.

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. 13, Abu Dhabi. M2 Expert Forum. Medical conference aimed at educating doctors and clinical practitioners in genomics. Dusit Thani Hotel.

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 15-17, Riyadh. Money 20/20. Shaping what’s next for money, finance, and tech in the region. Riyadh International Convention and Exhibition 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. 23-25, Dubai. ArabLab. The Middle East and Africa’s longest-running event dedicated to the laboratory and analytical industry. Dubai World Trade Center. 

Sept. 24, Abu Dhabi. Syria Recovery and Investment Forum – Abu Dhabi Edition. Convening influential business leaders, regional investors, policymakers, and advisory experts to explore practical avenues for engagement in Syria’s recovery. ADNEC. 

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

Sept. 30-Oct.2, Dubai. WETEX. With more than 50,000 attendees from 60 countries in attendance last year, the 37th edition promises even more opportunities for local and international companies to exhibit their products and services on a global stage with key decision-makers. Dubai World Trade Center. 

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 27-30, Riyadh. Future Investment Initiative, 9th Edition. Investors, corporate executives, cabinet ministers and political leaders from around the world attend Saudi Arabia’s flagship business conference. King Abdulaziz International Conference Center.

GULF MOMENTUM

Citigroup CEO Jane Fraser sees the Gulf states sparking explosive growth in coming years across the region. “The Middle East is probably on a rip for the next decade or so in terms of how much investment and new industries, new clients are coming in,” Fraser told Bloomberg in an interview today while visiting Dubai. She highlighted the region’s expanding links with India and China as a powerful draw for global financial institutions like Citi, which has been building up operations alongside rivals such as Jefferies, Lazard, and JPMorgan. With governments accelerating privatizations and encouraging stock listings, Fraser also pointed to the Gulf as a global hotspot for IPOs, which have raised more than $5 billion this year.

TOKYO FOCUS

Saudi Arabia’s flagship business forum, the Future Investment Initiative, is expanding its global reach with a conference in Tokyo. The FII Priority Asia Summit is slated for Nov. 30 to Dec. 1, and represents a strategic move by the kingdom to strengthen partnerships with key Japanese financial institutions, Nikkei Asia reports. Major players such as Mitsubishi UFJ Financial Group and Sumitomo Mitsui are expected to attend the event, which is often referred to as “Davos in the desert.” The FII Institute, founded by Saudi Arabia’s Public Investment Fund, has also sponsored conferences in Hong Kong, Rio de Janeiro and Miami, where U.S. President Donald Trump spoke in February.

Public Investment Fund: Neo Space Group, backed by the Saudi sovereign wealth fund, acquired Display Interactive, which helps airlines improve inflight connectivity services. 

Public Investment Fund: Kiran Haslam, Chief Marketing Officer at Diriyah, said in an interview with Arabian Gulf Business Insights that the company is ambitious to become a global developer specialising in heritage projects once it completes the $63 billion giga-project on the edge of Riyadh.

ADNOC: Abu Dhabi’s national oil company is preparing to address the EU’s subsidy investigation into its $17.2 billion bid for Germany’s Covestro, Reuters reports. 

Qatar Investment Authority: U.S. quantum computing startup PsiQuantum has secured $1 billion from investors including the QIA in a funding round that was led by affiliates of BlackRock, along with Temasek and Baillie Gifford, valuing the company at $7 billion.

Abu Dhabi Investment Authority: Vantage Data Centers secured a $1.6 billion investment led by an affiliate of GIC and a unit of ADIA to scale up Asia-Pacific operations, including the purchase of a data center campus in Malaysia, Reuters reports.

Oman Investment Authority: A delegation led by Austrian Vice Minister of Finance Andreas Reichhardt met with senior officials this week from the OIA, as well as Oman’s Ministry of Finance, Ministry of Energy and Minerals and Ministry of Transport, Communications and Information Technology.

🛢️ Aramco Gas: BlackRock’s Global Infrastructure Partners unit has arranged about $10 billion in financing for a planned investment in Saudi Aramco’s natural gas infrastructure, Bloomberg reports. 

💵 Africa Push: Saudi Arabia’s Vision Invest is injecting $700 million into ARISE, a developer of special economic zones across Africa, one of the largest private infrastructure transactions in the continent to date.

⚡ Electric Power: Egypt’s Elsewedy Electric will invest nearly $2.5 billion in renewables and other projects in Algeria with talks underway for 10 additional projects in the upcoming year.

🚗 Local Cars: Chinese tire manufacturer Sailun Group broke ground on a new $1 billion factory in the Suez Canal Economic Zone.

🎲 Pit Bosses: Wynn Resorts is advertising a series of new jobs ahead of its planned 2027 opening of a $5 billion casino-hotel in the UAE emirate of Ras Al Khaimah, including pit bosses, dealers and several vice presidents for casino marketing.

⛏️ Gold Digging: Jordan’s Energy Minister Saleh Kharabsheh signed an executive gold ore exploitation agreement with Wadi Araba Mining Co.

🏢 Tall Towers: Global real estate consultancy Knight Frank is partnering with Henry Wiltshire International to expand its presence in Abu Dhabi’s prime residential sector.

💰 Funding Drought: Fundraising by Israeli venture capital funds this year is running at a pace 40% below that of 2024 as foreign funds reduce their investments in the country, Globes reports.

UAE President Sheikh Mohamed bin Zayed traveled to Oman today after visits on Wednesday to Bahrain and Qatar. The Emirati leader met with Oman’s Sultan Haitham, who greeted him at the Royal Airport outside Muscat. In Manama he met with Bahrain’s King Hamad and in Doha, he met with the Emir of Qatar Sheikh Tamim.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, met with Ousmane Sonko, Prime Minister of Senegal, at the Qasr Al Watan palace in Abu Dhabi.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, met with Dr Badr Abdel Ati, Egypt’s Minister of Foreign Affairs and Migration in Abu Dhabi on Wednesday.

Jared Kushner, founder of Affinity Partners, investor Elad Gil and former Mexican Foreign Minister Luis Videgaray raised $30 million for Brain Co., a startup designed to help businesses and governments integrate artificial intelligence into their operations.

Ahmad Bin Shafar, CEO of Emirates Central Cooling Systems, known as Empower, delivered a keynote address on the role of district cooling in achieving sustainability goals at the International District Energy Conference for Latin America and the Caribbean in Santiago, Chile.

Ali Marshad was appointed as Group Deputy CEO for Buyside Business at SICO BSC, a regional asset manager with offices in Bahrain, Saudi Arabia and the UAE.

🛎️ Tall Order: Reservations have opened for the world’s tallest hotel, the $544 million Ciel Dubai Marina, which is taking bookings starting Nov. 15. Once open, the 377-meter (1,237-foot) skyscraper will overtake the Gevora Hotel on Sheikh Zayed Road and make Dubai the proud home of the world’s six tallest hotels. Ciel will also have the world’s highest Infinity Pool on the 77th floor, as well as a high-altitude club and restaurant under the Tattu Dubai brand that serves up Asian delicacies including wasabi lobster.

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. 13, Abu Dhabi. M2 Expert Forum. Medical conference aimed at educating doctors and clinical practitioners in genomics. Dusit Thani Hotel.

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. 23-25, Dubai. ArabLab. The Middle East and Africa’s longest-running event dedicated to the laboratory and analytical industry. Dubai World Trade 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.

Sept. 30-Oct.2, Dubai. WETEX. With more than 50,000 attendees from 60 countries in attendance last year, the 37th edition promises even more opportunities for local and international companies to exhibit their products and services on a global stage with key decision-makers. Dubai World Trade Center. 

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 27-30, Riyadh. Future Investment Initiative, 9th Edition. Investors, corporate executives, cabinet ministers and political leaders from around the world attend Saudi Arabia’s flagship business conference. King Abdulaziz International Conference Center.

DESERT DEALMAKER

David Amaryan, formerly a hedge fund manager and buyer of Goldman Sachs Group’s Russia unit, is expanding into the Gulf through his Armenia-based firm Balchug Capital. Amaryan, who opened an office in Dubai, told Bloomberg he wants to build a real estate and infrastructure portfolio worth up to $500 million. “The UAE continues to stand out as an international gateway with deep capital pools, transparent rule-of-law frameworks, and a clear commitment to attracting foreign capital,” Amaryan told the news agency in an email exchange. He is also exploring opportunities in commercial real estate, logistics, and data centers in Saudi Arabia.

TIGHT BOND

Aramco is tapping the international debt market in a two-part sale as Saudi Arabia ramps up its borrowing to plug funding gaps at its megaprojects amid ailing oil prices. The Saudi national oil company is offering five- and ten-year dollar-denominated Islamic bonds, known as sukuk, in the third major debt sale out of the kingdom in the past week, Bloomberg reports. It comes amid a burst of issuances that has seen Saudi raise nearly $20 billion in debt this year, including $7.5 billion raised by the government and the Public Investment Fund in the past week. Aramco, which is a key funding source for the Saudi government, has been boosting borrowings to help cover its massive dividend payments and fund projects. It previously raised $5 billion through a bond issuance in May.

Mubadala Capital and Qatar Investment Authority: New York-based private capital group Aquarian Holdings is in advanced talks with Mubadala Capital and the QIA to help raise more than $3 billion in equity to finance the acquisition of U.S. life insurer Brighthouse Financial, the Financial Times reports. Aquarian has already secured debt financing for the deal from Royal Bank of Canada, Nomura, and Société Générale.

Mubadala: Sequoia Capital-backed Swedish buy-now, pay-later service Klarna Group raised nearly $1.4 billion in a Wall Street IPO on Tuesday. The company said some of its existing investors sold 34.3 million shares at $40 each, Reuters reports. Mubadala held a 2% stake prior to the IPO. 

ADNOC: Abu Dhabi-based NMDC Group and ADNOC subsidiary ADNOC Logistics and Services, signed a three-year agreement to collaborate on delivering maritime services for offshore projects.

ADQ: Abu Dhabi-based Modon Holding invited 10 contractors to bid for infrastructure projects in the ADQ’s Ras Al Hekma development on Egypt’s Mediterranean coast.

🔌 Charging Push: Jeddah’s transportation authority signed a draft agreement with Saudi Arabia’s Petromin Co. to expand the city’s electric-vehicle charging network.

🤝 Water Pact: Abu Dhabi’s Department of Energy signed an agreement with Goldman Sachs to explore financing models, including foreign direct investment, to advance water security in the emirate.

📈 Debut Day: Shares in Dar Al Majed Real Estate Co. rose after its debut on Saudi Arabia’s Tadawul exchange following a $336 million IPO.

🏘️ Green Homes: Abu Dhabi’s sustainable community Masdar City has formed a joint venture with Taraf, the real estate division of UAE-based Yas Holding, to develop a 1.4 million square meter residential community.

💻 Chip Funding: ProteanTecs, an Israeli startup that monitors semiconductor performance, raised $51 million in a Series D funding round backed by Arm, Samsung, and Siemens.

💰 Equity Surge: Companies in the UAE have raised nearly $5 billion this year through follow-on equity offerings, five times the amount raised from IPOs, Bloomberg reports. 

🌀 Privately Owned: Bahrain sponsored the application by deep-sea U.S. mining company Impossible Metals for a mining permit with the International Seabed Authority.

🏦 Debt Access: Saudi Arabia’s Capital Market Authority approved a regulatory framework allowing licensed firms to offer sukuk Islamic bonds and debt instruments through crowdfunding platforms.

🇨🇳 Chinese Partners: Saudi Arabia and the UAE are top investment targets for Chinese companies in the Middle East due to their rapid economic transformation and location, PwC said in its latest survey.

⛽ Gas Boost: Chevron is working to increase supplies of Israeli natural gas to Egypt to meet “an insatiable appetite” for fuel, Freeman Shaheen, Chevron’s President for Global Gas, told Bloomberg.

UAE President Sheikh Mohamed bin Zayed flew into Doha on Tuesday and was welcomed at Hamad International Airport by Qatar’s Emir Sheikh Tamim and Qatar’s Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman Al Thani. The UAE President was accompanied by a high-level delegation, including Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Minister of Defense and Deputy Prime Minister; Sheikh Tahnoon bin Zayed, UAE National Security Adviser and Deputy Ruler of Abu Dhabi; Lt. Gen. Sheikh Saif bin Zayed, UAE Minister of the Interior and Deputy Prime Minister; and Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology.

Princess Reema Al Saud, Saudi Arabia’s Ambassador to the U.S., signed a Bilateral Work Agreement to strengthen diplomatic cooperation between the two countries. 

Sheikh Nasser bin Hamad Al Khalifa, the Representative of Bahrain’s King for Humanitarian Work and Youth Affairs, met with Jane Fraser, CEO of Citigroup.

Osama Al-Adhamy, was appointed as Managing Director and Principal Representative for 17 Capital’s Dubai International Financial Centre representative office, as it continues to expand its presence in the Middle East and North Africa.

Sami Al Ghassani was appointed Acting CEO of telecom provider Omantel after Talal bin Said Al Mamari stepped down.

🎶 Pipe Dream: The delicate music of the Bethlehem Organ was heard for the first time in 800 years on Tuesday, after an intensive restoration project. The world’s oldest church organ was played by medieval musicologist David Catalunya in front of an audience of friars, ambassadors and journalists at St Saviour’s Monastery in the Old City of Jerusalem, The National reports. The organ, which was hidden by Crusaders in the 12th century, was discovered in a former cemetery in 1906 and sat unused for many years in a museum.

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. 13, Abu Dhabi. M2 Expert Forum. Medical conference aimed at educating doctors and clinical practitioners in genomics. Dusit Thani Hotel.

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.

Oct. 27-30, Riyadh. Future Investment Initiative, 9th Edition. Investors, corporate executives, cabinet ministers and political leaders from around the world join Saudi Arabia’s flagship business conference. King Abdulaziz International Conference Center.

PROPERTY RISERS

Blackstone and Permira are betting big on the UAE property market with a $525 million investment in Property Finder, the Dubai-based classifieds site. The deal, which gives the private capital firms a minority stake, marks Permira’s first move into the Middle East and underscores how global buyout giants are planting deeper roots in the Gulf, Bloomberg reports. Property Finder, launched nearly two decades ago, has been expanding across the region while sharpening its focus on Saudi Arabia and Turkey. The investment comes as Dubai home prices surge post-pandemic, stoking both optimism and fears of overheating. The website competes against two other classified platforms, Dubizzle and Bayut, the latter of which is backed by Jared Kushner’s Affinity Partners and has been considering an IPO.

NEOBANK ARRIVES

London-based digital bank Revolut has secured regulatory approvals from the UAE’s Central Bank to launch its services in the emirates. The decade-old fintech startup, which has been rapidly expanding into new markets, launched a secondary share sale earlier this month which saw its valuation rocket up to $75 billion, placing it among Europe’s most valuable financial firms. Revolut said in a statement on Tuesday that it had received in-principle approval for its relevant licences and would be ramping up hiring across the UAE. Historically it has been complicated for so-called neobanks to enter the UAE market, however the launch of homegrown Wio Bank, backed by ADQ, e& and FAB, three years ago has popularized app-based banking.

Mubadala: The Abu Dhabi sovereign wealth fund anticipates demand for all shares on offer in the sale of part of its stake in telecom operator Du, which could raise as much as $920 million, Bloomberg reports.

Mubadala: The fund is partnering with early-stage venture capital firm Antler and Hub71 to launch the National Founders Programme to commercialize university research via a six-week venture-building initiative.

Public Investment Fund: PIF-owned Saudi Arabia Railways invited bids for a new 35-kilometer rail line project in Riyadh.

Abu Dhabi Investment Authority: ADIA will invest in credit-focused asset manager Oak Hill Advisors’ European special situations strategy.

🚢 Port Contract: Dubai’s DP World secured a contract to operate a new container terminal at the Port of Montreal in Canada, expanding its presence in North America’s shipping and logistics sector.

📈 Stake Surge: JVP, a Jerusalem-based venture capital firm, raised $290 million from U.S. investor TPG, mainly to buy out early backers of insurtech startup Earnix, Calcalist reports.

⛽ Gas Deal: The Egyptian Natural Gas Holding Company signed a preliminary agreement with BP to drill five new gas wells in the Mediterranean Sea, Reuters reports. 

🌴 Market Date: Saudi Arabian luxury date producer Bateel International, which is majority owned by the royal family-linked Al Sudairi clan, is working with Morgan Stanley on a potential IPO, Bloomberg reports.

🌀 Cable Talks: Cyprus has approached the UAE for possible participation in a subsea cable project designed to improve Europe’s digital connectivity, the Cypriot president said.

🤝 Shaking Hands: Qatar and India are expected to finalize terms of reference for a free trade agreement within the first week of October.

Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai, announced the appointment of Lana Nusseibeh and Saeed Al Hajeri as Ministers of State in the UAE government on Tuesday.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, delivered an address at the BRICS Leaders Virtual Summit, convened on Monday by Brazilian President Luiz Inácio Lula da Silva. Among other participants were Russian President Vladimir Putin and Chinese President Xi Jinping.

Sheikh Tahnoon bin Zayed, UAE National Security Advisor, Deputy Ruler of Abu Dhabi and Chairman of MGX, posted on his X account that the launch of the “K2 Think” AI model will mark a significant step in advancing artificial intelligence from the UAE to the world.

Sheikh Saud bin Saqr Al Qasimi, Ruler of the northern emirate of Ras Al Khaimah, met with Duma Gideon Boko, President of Botswana, on Monday at his palace in Saqr bin Mohammed City.

Sheikh Ahmed bin Saeed, Chairman and CEO of Emirates airline, shared an image of a horsehead sculpture crafted from upcycled aircraft parts by the company’s engineering team.

Ramez Halazun, HSBC’s top IPO banker in Saudi Arabia, is leaving the bank to join investment advisory firm PJT Partners, Bloomberg reports.

Abdulla bin Mohammed bin Butti Al Hamed, Chairman of the National Media Office and Chairman of the UAE Media Council, met with a number of ministers and senior officials during his visit to Rwanda.

Dr. Abdulla Humaid Al Jarwan, Chairman of the Abu Dhabi Department of Energy, led a delegation to the U.S. to discuss further cooperation and strategic partnerships within the energy and water sectors. 

Doriane Groene has been appointed Senior Director, Microsoft Alliance, for Europe, Middle East and Africa by software company Veeam. She previously led Intel’s EMEA Microsoft Global Account Team.

✏️ Design Forward: Tanween, the flagship design event at Saudi Arabia’s King Abdulaziz Center for World Culture, known as Ithra, will return for its eighth edition under the theme “Design the Unspoken” from Nov. 17-22. Submissions are now open for designers worldwide to take part in the Tanween Challenge, which this year invites participants to shift their attention to designing for the underserved 90% of consumers, rather than the top 10%.

Sept. 8-10, Dubai. WHX Tech 2025. Participants explore the latest trends in health care. Dubai World Trade Center.  

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. 13, Abu Dhabi. M2 Expert Forum. Medical conference aimed at educating doctors and clinical practitioners in genomics. Dusit Thani Hotel.

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.

Oct. 27-30, Riyadh. Future Investment Initiative, 9th Edition. Investors, corporate executives, cabinet ministers and political leaders from around the world attend Saudi Arabia’s flagship business conference. King Abdulaziz International Conference Center.

TELECOM SHUFFLE

Mubadala Investment Co. is selling a 7.55% stake in Emirates Integrated Telecommunications, better known as Du, in a move expected to raise about $920 million. Goldman Sachs, Abu Dhabi Commercial Bank, Emirates NBD and First Abu Dhabi Bank are leading the transaction, according to the Abu Dhabi sovereign wealth fund. The stake sale comes as Mubadala looks to inject cash into new projects while opening its companies to a wider investor base. Mubadala owns roughly 10% of Du through its Mamoura Diversified Global Holding unit, while Emirates Investment Authority, the UAE’s federal wealth fund, remains the telecom’s largest shareholder with a stake of just over 50%.

GAMING GLAMOUR

Wynn Resorts and its partners are already eyeing a second casino-resort in the emirate of Ras Al Khaimah, even as their flagship project – the first gaming venture in the UAE – races toward a 2027 debut. An agreement filed with the SEC regulatory commission in the U.S. reveals a master plan that goes far beyond the first casino on Al Marjan Island, mapping out a second resort and luxury residences possibly branded with Tokyo-based Janu Hotels, Arabian Gulf Business Insight reports.  Wynn says it won’t decide on future projects or a potential IPO until its first resort opens its doors. Among other casino operators that have expressed interest in the UAE are MGM Resorts, Atlantis and Caesar’s Palace.

Abu Dhabi Investment Authority: The Abu Dhabi sovereign wealth fund may join a group of investors who will help Vantage Data Centers acquire Yondr Group’s assets in Malaysia in a transaction valued at about $1.6 billion, Bloomberg reports.

Mubadala: Abu Dhabi Commercial Bank, which is majority owned by the UAE sovereign wealth fund, will seek $1.7 billion via a rights issue.

Public Investment Fund: Saudi Arabia’s sovereign wealth fund plans to sell 10-year dollar bonds, as it seeks to plug funding gaps from falling oil prices.

Public Investment Fund: The PIF and Australia’s Macquarie Asset Management are exploring potential investments in the kingdom, including in digital infrastructure and energy, Semafor reports. Macquarie is considering opening an office in Riyadh.

ADQ: Etihad Airways is considering buying parts, such as seats, in bulk and storing them until needed as a solution to navigate supply delays, CEO Antonoaldo Neves told Bloomberg in an interview. 

Mumtalakat: Aluminium Bahrain, known as Alba, which is majority-owned by Bahrain’s sovereign wealth fund, signed a draft agreement with Egypt’s Metallurgical Industries to explore building an aluminum refinery. 

The Arab Investment Co.: TAIC, the pan-Arab sovereign fund with a $1.2 billion portfolio, has hired Saudi Arabia’s Jadwa Investment to help it reallocate about $1 billion as part of its strategic overhaul to pursue higher returns.

Oman Investment Authority: Future Fund of Oman, an affiliate of OIA, launched a lending portfolio for small and medium enterprises.

🏭 Energy Finance: ADNOC, led by JP Morgan, plans to line up more than $10 billion in debt financing from local and international banks as it moves forward with the acquisition of Australian fossil fuel producer Santos, Bloomberg reports.

📊 Index Member: Adnoc Gas will be added to the FTSE Emerging Index later this month, boosting liquidity through greater exposure to international investors.

🏝️ Shining Star: Egyptian-listed Emaar Misr for Development, will build a new tourism project on the Red Sea coast worth $18.6 billion in collaboration with companies from both Saudi Arabia and the UAE. 

💰 Borrowing Bonanza: Kuwait has borrowed a total of $4 billion from the local market to fund projects since it began issuing bonds two months ago, the Arabic language daily Al-Anba reports.

📈 Saudi Surge: Foreign investors are increasing exposure to Saudi Arabia’s stock market, citing low valuations and steady oil price expectations as reasons for renewed interest in the kingdom’s battered equities, Bloomberg reports.

🏡 Dirham Draw: Dubai real estate brokers are targeting British buyers, betting a weaker dirham will attract demand for homes from investors seeking value amid currency shifts, Reuters reports.

💎 Dubai Bling: A select group of Indian entrepreneurs have transformed the retail gold market in Dubai, amassing $9.5 billion in wealth, but their glitzy showrooms are at risk from recent regulatory changes in India, Bloomberg reports.

🤝 Legal Alliance: Negotiations are underway between Tel Aviv-based law firms Meitar and Arnon, Tadmor-Levy, which, if successful, would create Israel’s largest firm.

UAE President Sheikh Mohamed bin Zayed has pledged support for the upcoming launch of K2 Think, an open-source AI reasoning model developed by Abu Dhabi’s Mohamed bin Zayed University of Artificial Intelligence in partnership with G42. Sheikh Tahnoon bin Zayed, UAE National Security Advisor and Chairman of the Artificial Intelligence and Advanced Technology Council, praised the collaboration as a significant achievement in the UAE’s AI vision. 

Jordan’s King Abdullah II met with Sheikh Mohamed in Abu Dhabi on Sunday. The UAE President also met with Prince Rahim Al-Hussaini Aga Khan, the global spiritual leader of the Ismaili community known as Aga Khan V, on Sunday.

Sheikh Khaled bin Mohamed, Abu Dhabi Crown Prince and Chairman of the Abu Dhabi Executive Council, chaired a meeting of the Executive Committee of the ADNOC Board of Directors on Monday to review the group’s financial performance. 

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, met Dr. Ghassan Salamé, Lebanon’s Minister of Culture, on Saturday in Abu Dhabi. Sheikh Abdullah met Joe Saddi, Lebanon’s Minister of Energy and Water, on Sunday. Sheikh Abdullah also held a phone call with Yvette Cooper to congratulate her on her appointment as the U.K.’s Secretary of State for Foreign, Commonwealth and Development Affairs.

Prince Badr bin Abdullah bin Farhan Al Saud, Saudi Arabia’s Culture Minister, met with France’s First Lady Brigitte Macron and French Minister of Culture Rachida Dati for a performance of French and Saudi music at the Palace of Versailles on Friday.

Zachary Cefaratti, founder of Dubai-based boutique advisory firm Dalma Capital, has emerged as a pivotal figure linking Gulf investors with Silicon Valley, leveraging regional demand for artificial intelligence and data centers, the Financial Times reports.

Mohamed Abdulnabi Sanad was appointed by the National Bank of Bahrain as Head of Business Banking within its Retail Banking Division.

Suresh Ferdinandusz has been appointed Director of Operations for Anantara World Islands Dubai Resort

🎻 New Season: Oman’s Royal Opera House Muscat has released details of its new season, running from October to May, with a program of more than 50 events, including the world premiere of grand opera production “Sinbad: The Omani Sailor.” Other highlights include operas “Tosca” and “Don Pasquale,” as well as family shows including a screening of “The Lion King,” with a live orchestra, The National reports. Saudi singer Rabeh Saqer and Lebanon’s Diana Haddad lead the concert lineup.

Sept. 8-9, Abu Dhabi. Hili Forum 2025. Global thought leaders come together to discuss ongoing economic and geopolitical challenges. St. Regis Saadiyat.

Sept. 8-10, Dubai. WHX Tech 2025. Participants explore the latest trends in health care. 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.