DIGITAL DICE

Momentum, the company behind the UAE’s only licensed lottery, has launched two online betting and casino platforms, TrueWin and Dream Island, Arabian Gulf Business Insights reports. Both sites offer casino games and sports betting and are already live. Their launch comes as the UAE weighs a historic policy shift that could generate an estimated $6.6 billion in annual gaming revenue. Both TrueWin and Dream Island were registered in March 2023, several months before the General Commercial Gaming Regulatory Authority was established. The UAE Lottery, meanwhile, announced on Tuesday that it would be revamping its flagship Lucky Draw, just weeks after handing out its first 100 million-dollar ($27 million) grand prize.

NATIVE SPECIES

Scientists have uncovered a new ant species in the rugged Hajar Mountains of the UAE and named it Carebara sharjahensis in honor of the emirate of Sharjah. The insect – a so-called “soldier” ant – was found in the remote Wadi Shees region and bears unique anatomical features such as horn-like head appendages and fine setae that mark it as distinct, The National reports. The Carebara sharjahensis was identified by Mostafa Sharaf, an ant expert at the Sharjah Environment and Protected Areas Authority, who wrote a paper about his discovery in the Journal of Natural History. Sharaf said the Sharjah ant highlights the urgent need for environmental protection in the region where rapid development is threatening sensitive habitats.

Public Investment Fund: The PIF sold 3.3% of its stake in Mecca developer Umm Al Qura for Development and Construction, known as Masar, for $253 million.

ADNOC: ADNOC Gas has signed a $4 billion agreement with UAE-based steel manufacturer Emsteel to supply natural gas.

Oman Investment Authority: Abdulsalam Mohammed Al Murshidi, Chairman of the OIA, met with Botswana’s President Duma Gideon Boko at the Presidential Palace in the capital Gaborone. Botswana has been seeking Gulf backing for its plan to take control of diamond giant De Beers and reverse ailing prices for natural stones.

L’imad Holding: Abu Dhabi-based master developer Modon Holding, majority owned by government company L’imad Holding, has taken a stake in Wellington Lifestyle Partners, which is developing an equestrian-led luxury project in Florida’s Palm Beach County.

✈️ Airport Upgrades: Saudi airport operator Matarat Holding has chosen U.K.-based engineering and consulting firm Mott MacDonald to advise on long-term development and investment planning for 25 airports across the kingdom.

💺 Private Jets: VistaJet, the first foreign airline approved for private domestic flights in Saudi Arabia, has already operated 37 flights, mostly between Riyadh andJeddah, since August, with rates starting at $15,000 per hour.

💵 Property Deal: A unit of Bahrain-based GFH Financial Group has acquired a controlling stake in UAE-based Devmark Real Estate Brokers. 

💰 Doubling Down: BlackRock plans to double its investments in Saudi Arabia, where it has already deployed more than $35 billion,supported by four Riyadh-based teams targeting opportunities from infrastructure to AI, Bloomberg reports. 

🛩️ Flight Bundles: Saudia has launched a new Flight Pass subscription offering prepaid economy-class trip bundles that could boost revenue from Saudi Arabia’s domestic market.

🔋 EV Maker: Morocco is nearing entry into the world’s top five electric-vehicle battery value-chain producers, Minister of Industry and Trade Riad Mezzour said.

🛢️ Oil Search: Egypt plans to drill more than 100 exploratory wells in 2026 after boosting crude production by nearly 200,000 barrels per day.

📉 Economy Collapse: A UNCTAD report said that the two-year Gaza war and West Bank restrictions have caused the worst economic collapse in Palestinian history, with the economy shrinking 30% in 2024 compared with 2022.

💸 Flying Contest: As Gulf’s major airports expand capacity, they are shifting from competing with Europe’s major hubs to vying against one another to attract hundreds of millions of future passengers, The Financial Times reports.

UAE President Sheikh Mohamed bin Zayed met with Sheikh Fahad Yousef Saud Al Sabah, First Deputy Prime Minister and Minister of Interior of Kuwait, at Qasr Al Bahr palace in Abu Dhabi on Tuesday.

Sheikh Mohamed also met with Farid Ahmadov, Minister of Justice of Azerbaijan, on Tuesday in Abu Dhabi.

Saudi Crown Prince Mohammed bin Salman received a phone call on Tuesday from King Abdullah II of Jordan.

Sheikh Tahnoon bin Zayed, UAE National Security Advisor, met with Christian Klein, CEO of German software company SAP on Tuesday.

Pope Leo plans to visit both Turkey and Lebanon on his first overseas trip, meeting with Orthodox Christian leaders and making appeals for peace in the region. 

Gianni Infantino, President of the FIFA soccer federation, was granted Lebanese citizenship by President Joseph Aoun during a visit to Lebanon’s Presidential palace in Baabda on Tuesday. Infantino’s wife, Leena Al Ashqar, is Lebanese.

Hessa Alshuwaihi has been appointed as the UAE’s Consul General in Los Angeles.

Saeed bin Mubarak Al Hajeri, UAE Minister of State at the Ministry of Foreign Affairs, told Bloomberg that the government plans to expand commerce within sub-Saharan Africa as it seeks to bolster food security and tap into Africa’s rapid growth.

🎬 Shakespeare in the Desert: Barbara Broccoli’s Eon Productions, the former James Bond franchise producer, has signed up to make a screen adaptation of William Shakespeare’s “Othello” with financing from Qatar’s Katara Studios, to be shot in Doha next year. The production will be directed by British actor David Oyelowo, who will also star alongside “The Marvelous Mrs. Maisel’s” Rachel Brosnahan. It will be Broccoli’s first project since her company sold the Bond rights to Amazon MGM, Variety reports. The adaptation is based on a production directed by Sam Gold at the New York Theater Workshop in 2016. Entertainment news site Deadline reports that the screenplay reimagines the story in a contemporary Middle East, set in a U.S. barracks in Iraq.

Nov. 24-27, Dubai. Big 5 Global. Addressing the challenges shaping the construction and urban development industries. Dubai World Trade Center.

Nov. 26-27, Abu Dhabi. CyberQ 2025. The UAE’s flagship summit for cybersecurity and quantum technologies. ADNEC Center.

Dec. 1-2, UAE. UAE National Day. A two-day public holiday to celebrate the UAE’s 54th National Day, also known as Eid Al Etihad. 

Dec. 1-3, Riyadh. Saudi Intermobility Expo. A platform dedicated to advancing next-generation road networks, from sustainability to integrating AI and EVs. Riyadh Front Exhibition and Convention Center. 

Dec. 2-5, Abu Dhabi: Sotheby’s Abu Dhabi Collectors’ Week. Auction house runs a series of public sales, masterclasses, panel discussions and exhibitions. St. Regis Saadiyat Island Resort.

Dec. 3-5, Jeddah. AgroFood Jeddah. Bringing together developing businesses in the agricultural and food products field in Saudi Arabia. Jeddah Center for Exhibitions and Events.

Dec. 4, Abu Dhabi. Family Office Summit. Dedicated to fostering innovation and wealth management within the family office community. Park Hyatt Hotels and Villas. 

Dec. 4-5, Abu Dhabi. Milken Institute Middle East and Africa Summit. Investors, corporate executives and policymakers gather to discuss prospects for investment in the region. St. Regis Saadiyat Island. 

Dec. 6-7, Doha. Doha Forum. Bringing together leaders in policy to discuss critical challenges facing our world. Sheraton Grand Doha Resort and Convention Hotel.

Dec. 7, Abu Dhabi. F1 Abu Dhabi Grand Prix 2025. The F1 season finale and one of the most hotly anticipated races in motorsport. Yas Marina Circuit. 

Dec. 8-9, Riyadh. Hydrogen Arabia Summit & Exhibition. The inaugural event is aimed at positioning the Kingdom as a hub for hydrogen and clean energy collaboration. Crowne Plaza Riyadh RDC.

Dec. 8-9, Abu Dhabi. Bitcoin MENA 2025. An event dedicated to advancing Bitcoin and blockchain understanding and adoption. ADNEC Center.

Dec. 8-9, Kuwait City. Kuwait Risk Management Summit. Equipping leaders in enterprise risk, audit, and compliance with the latest insights and actionable strategies to tackle the evolving risk landscape. Kuwait Four Seasons Hotel.

Dec. 8-9, Abu Dhabi. Global AI Show. A leading forum examining investment opportunities in artificial intelligence. Space42 Arena.

Dec. 8-10, Abu Dhabi. BRIDGE Summit. Bringing together media executives, innovators, academia and NGOs, policymakers, and thought leaders to redefine the media landscape. ADNEC Center.

Dec. 8-11, Abu Dhabi. Abu Dhabi Finance Week. The largest financial event in the region, brings together the world’s top minds to redefine and shape the future of global markets. The Grand Steps, Al Maryah Island.

Dec. 18-23, Abu Dhabi. Games of the Future. A forum to discuss trends and investment opportunities in digital gaming. ADNEC. 

Dec. 29-30, Dubai. World Sports Summit. Athletes, investors and decision makers discuss how sports can change the face of humanity. Madinat Jumeirah Arena.

BOTTLE SERVICE

Two new liquor stores are under construction in the cities of Jeddah and Dammam as Saudi Arabia further eases restrictions on alcohol in a bid to draw more foreign talent to reside in the kingdom, Reuters reports. It comes after reports that the country’s only sanctioned liquor store, in Riyadh, is now allowing a larger group of foreign residents to make purchases. Non-Muslims holding a permit under the Premium Residency program, which grants visas to entrepreneurs, investors, property owners and talented individuals, are now allowed to purchase alcohol in the store, which was previously reserved for diplomats. Loosening rules around alcohol has been a delicate task for the Saudi leadership, which has attempted to appease conservatives by cracking down on nightclubs known as “lounges” in recent months. 

AERIAL CONNECTIONS

Providing dependable internet connections is the latest battleground in competition between Gulf airlines. The rivalry on international routes between Emirates and Qatar Airways is being stoked by the increased availability of Starlink, the low-orbit satellite network developed by Elon Musk’s SpaceX, Arabian Gulf Business Insight reports. While the Qatar carrier has already equipped more than 100 of its long-haul aircraft with Starlink’s service, Dubai-based Emirates is trying to catch up with a new fleet-wide rollout of Starlink that will enable streaming videos, playing games and making voice calls simultaneously. Budget airline Flydubai, meanwhile, is preparing to offer Starlink’s high-speed WiFi as a standard feature rather than a premium perk.

Mubadala: Uber is seeking regulatory approval in Turkey to buy Getir Food from the Abu Dhabi sovereign wealth fund, a move that would deepen its presence in Turkey’s food delivery market as Mubadala exits the business, Bloomberg reports.

Mubadala: Los Angeles-based Ares Management is teaming up with Mubadala and the Abu Dhabi Investment Council to launch a so-called GP-stakes platform that will buy minority holdings in mid-size private equity firms.

ADQ: AD Ports Group, an ADQ subsidiary, and Masdar signed an agreement to collaborate on the development and delivery of offshore wind projects.

Abu Dhabi Investment Authority: Qatari telecoms operator Ooredoo said its secondary global offering of shares, stemming from ADIA’s recent divestment of half its 10% stake, has been completed.

✈️ Double Money: The Dubai Airshow 2025 closed with deals surpassing $202 billion, double its 2023 edition. 

🩺 Gulf Reach: Moroccan private hospital giant Akdital is launching a $1.6 billion expansion into Gulf markets, using its property arm Tazak to raise capital for new hospitals in Saudi Arabia and the UAE. 

⛏️ Start Digging: Brunswick Exploration, a Montreal-based miner, has begun lithium exploration in Saudi Arabia after receiving a pending-approval license.

🌐 Quantum Lift: Heven AeroTech, an Israeli drone startup, announced a new investment and strategic partnership with U.S. quantum computing company IonQ.

📈 Economic Rebound: The Bank of Israel cut its benchmark interest rate by 0.25% to 4.25%, its first rate cut since January 2024, citing eased inflation after the Gaza ceasefire and a rebound in economic activity.

📉 Fiscal Warning: The International Monetary Fund warned that Bahrain’s deteriorating fiscal position and rising debt-to-GDP ratio require new measures, including a general corporate income tax and reduction in broad energy subsidies.

📜 Executive Ban: U.S. President Donald Trump has signed an executive order directing his top diplomats and treasury officials to begin the process of designating certain chapters of the Muslim Brotherhood as foreign terrorist organizations.

💸 Desert Debut: Airtel Money, a subsidiary of London-listed telecom Airtel Africa, is planning a $1 billion IPO in the UAE after securing a regulatory waiver because of its lack of a local headquarters.

🇪🇬 Winning Trust: HSBC says Egypt’s devalued pound is winning back foreign debt investors’ trust, arguing that fears of policy reversals have eased and that convertibility, rather than fixed value, has become more credible.

UAE President Sheikh Mohamed bin Zayed chaired the annual meeting of the ADNOC Board of Directors at the Habshan complex in Abu Dhabi on Monday.

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, opened a new session of the Federal National Council. The session was attended by Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, met with Massad Boulos, Advisor to the U.S. President for African and Arab Affairs on Monday in Abu Dhabi.

Sheikha Moza bint Nasser, Chairperson of the Qatar Foundation and mother of Qatar’s Emir Sheikh Tamim delivered the opening speech on Monday at the 12th World Innovation Summit for Education. Speaking about artificial intelligence, Sheikha Moza said: “The pace of change now surpasses our limits and our ability to adapt. This reality brings risks that we can neither downplay nor ignore.”

Abdullah Ali Al-Yahya, Kuwait’s Minister of Foreign Affairs, met on Monday with Adam Boehler, the U.S. Special Envoy for Hostage Response.

Faisal Al Bannai, Secretary General of the Advanced Technology Research Council, talked with CNN’s Becky Anderson about the UAE’s determination to take the lead in the global AI race.

Yuriko Koike, Governor of Tokyo, will attend and deliver a keynote address at the FII Priority Asia Summit in Tokyo on Nov. 30- Dec. 1, according to a press statement. 

Danny Townsend, CEO of SURJ Sports Investment, spoke to The National about the recent Masters 1000 announcement, the company’s overall strategy, and the challenges that come with working to transform the sports ecosystem in Saudi Arabia.

Gerd Muller, Director-General of the UN Industrial Development Organization, said that Saudi Arabia represents an ambitious model for achieving sustainable industry.

Aldo De Jager was appointed CEO of Dubai’s Mira International, formerly known as Mira Real Estate.

🪩 Coming Out: American superstar Diana Ross is joining the lineup for Abu Dhabi’s Saadiyat Nights concert series, performing the opening night double-header with British singer Seal on Jan. 9. The Supremes singer will perform favorites from her six-decade career, including solo hits “I’m Coming Out” and “Upside Down.” The concert series, which continues through to Feb. 11 at a venue near Manarat Al Saadiyat, will also feature Ludovico Einaudi, Lewis Capaldi, John Mayer, Ricky Martin, Mariah Carey and Bryan Adams.

Nov. 24-27, Dubai. Big 5 Global. Addressing the challenges shaping the construction and urban development industries. Dubai World Trade Center.

Nov. 25-26, Riyadh. Global Sustainability Expo. Dedicated to advancing sustainability practices across industries. The Arena Riyadh.

Nov. 26-27, Abu Dhabi. CyberQ 2025. The UAE’s flagship summit for cybersecurity and quantum technologies. ADNEC Center.

Dec. 1-2, UAE. UAE National Day. A two-day public holiday to celebrate the UAE’s 54th National Day, also known as Eid Al Etihad. 

Dec. 1-3, Riyadh. Saudi Intermobility Expo. A platform dedicated to advancing next-generation road networks, from sustainability to integrating AI and EVs. Riyadh Front Exhibition and Convention Center. 

Dec. 3-5, Jeddah. AgroFood Jeddah. Bringing together developing businesses in the agricultural and food products field in Saudi Arabia. Jeddah Center for Exhibitions and Events.

Dec. 4, Abu Dhabi. Family Office Summit. Dedicated to fostering innovation and wealth management within the family office community. Park Hyatt Hotels and Villas. 

Dec. 4-5, Abu Dhabi. Milken Institute Middle East and Africa Summit. Investors, corporate executives and policymakers gather to discuss prospects for investment in the region. St. Regis Saadiyat Island. 

Dec. 6-7, Doha. Doha Forum. Bringing together leaders in policy to discuss critical challenges facing our world. Sheraton Grand Doha Resort and Convention Hotel.

Dec. 7, Abu Dhabi. F1 Abu Dhabi Grand Prix 2025. The F1 season finale and one of the most hotly anticipated races in motorsport. Yas Marina Circuit. 

Dec. 8-9, Riyadh. Hydrogen Arabia Summit & Exhibition. The inaugural event is aimed at positioning the Kingdom as a hub for hydrogen and clean energy collaboration. Crowne Plaza Riyadh RDC.

Dec. 8-9, Abu Dhabi. Bitcoin MENA 2025. An event dedicated to advancing Bitcoin and blockchain understanding and adoption. ADNEC Center.

Dec. 8-9, Kuwait City. Kuwait Risk Management Summit. Equipping leaders in enterprise risk, audit, and compliance with the latest insights and actionable strategies to tackle the evolving risk landscape. Kuwait Four Seasons Hotel.

Dec. 8-9, Abu Dhabi. Global AI Show. A leading forum examining investment opportunities in artificial intelligence. Space42 Arena.

Dec. 8-10, Abu Dhabi. BRIDGE Summit. Bringing together media executives, innovators, academia and NGOs, policymakers, and thought leaders to redefine the media landscape. ADNEC Center.

Dec. 8-11, Abu Dhabi. Abu Dhabi Finance Week. The largest financial event in the region, brings together the world’s top minds to redefine and shape the future of global markets. The Grand Steps, Al Maryah Island.

Dec. 18-23, Abu Dhabi. Games of the Future. A forum to discuss trends and investment opportunities in digital gaming. ADNEC. 

Dec. 29-30, Dubai. World Sports Summit. Athletes, investors and decision makers discuss how sports can change the face of humanity. Madinat Jumeirah Arena.

WASHINGTON COMEBACK

The elaborate reception with which U.S. President Donald Trump greeted Crown Prince Mohammed bin Salman last week capped the de facto Saudi leader’s Washington comeback. Topping the visit’s tangible achievements were the designation of Riyadh as a major non-NATO ally and a promise that the U.S. would sell Saudi Arabia its most advanced jet fighter, the F-35, The Wall Street Journal notes. Those two elements showcased Trump’s determination to pursue a new approach to Saudi Arabia, reversing former President Joe Biden’s initial approach of treating the kingdom’s heir to the throne as a pariah.. “No Arab leader in recent memory has received such a lavish welcome from an American president – including a red-carpet welcome, a parade of horses and a black-tie dinner – and certainly not an authoritarian leader with such a scrutinized human-rights record,” the Journal said.

DEBT SPREE

Property developers in the UAE are raising billions through bonds and private credit to take advantage of the ongoing real estate boom, as banks tighten lending to private developers. Dollar bond and sukuk issuances have grown more than 12 times to $6 billion since 2021, according to Bloomberg. Heavyweight developers Emaar, Aldar and DAMAC, as well as emerging names like Sharjah’s Arada, have been regularly issuing Islamic bonds as they compete to buy prime land. The rise in issuances has seen maturities due by 2030 grow to about $8 billion and some analysts are now flagging risks from the boom-time spending.

Saudi Aramco: The state-owned energy giant is considering plans to raise as much as $10 billion by selling a range of assets, including a stake in its oil export and storage terminals, Bloomberg reports.

EDGE: Tawazun Council for Defense Enablement, EDGE Group, Khalifa University of Science and Technology, and Lockheed Martin signed a letter of intent to launch a national integrated ecosystem for the design and production of microelectronics in Abu Dhabi. 

Qatar Investment Authority: The QIA and Canada’s Ivanhoe Mines signed an agreement to produce critical minerals.

Abu Dhabi Investment Authority: A subsidiary of ADIA along with GIC, Singapore’s sovereign wealth fund, led a $1.6 billion equity investment in the Asia-Pacific platform of Vantage Data Centers. Part of the capital will be used to close the acquisition of Yondr Group’s 300MW hyperscale data center in Johor, Malaysia.

Oman Investment Authority: Oman signed an agreement with Airbus Defense and Space to build Oman’s first communications satellite OmanSat-1, to be overseen by Space Communications Technologies, a subsidiary of the OIA.

📦 Delivery Hub: DHL said it will invest $150 million in a Riyadh logistics hub adjoining King Khalid International Airport, drawn by Saudi Arabia’s push to become a regional trade gateway.

🏡 Building Deals: Deals at CityScape in Riyadh exceeded $63 billion, with wide participation from local and international companies.

⚓ Breaking Ground: Saudi Global Ports has begun building the $347 million integrated logistics park at King Abdulaziz Port in Dammam.

🎞️ Filming Hub: The Film Committee at Media City Qatar signed an agreement with Company 3 to establish a dedicated post-production and VFX studio in Doha.

🍻 Bottoms Up: Saudi Arabia is quietly expanding alcohol sales to non-Muslim expats who hold a special level of residence status, enabling them to buy liquor at a Riyadh store once reserved for diplomats, Semafor reports.

🌍 Return to Libya: Global oil companies including Shell, Chevron, and TotalEnergies are returning to Libya as the North African country launches its first exploration auction in 18 years, the Financial Times reports.

🏦 Banking on India: Foreign banks have poured $8 billion into India this year, highlighted by Emirates NBD’s $3 billion buyout of RBL Bank and Sumitomo Mitsui’s stake in Yes Bank, the Financial Times reports.

💸 Future Focus: Lux Capital cites Abu Dhabi and Dubai in its third-quarter letter to investors as “testbeds for a new model of state capitalism: nimble, cash-rich and future-obsessed.”

💵 Building Boom: Abu Dhabi is seeking partners to carry out infrastructure projects worth $54 billion over the next five years, and aims to double that amount by 2040, the head of Abu Dhabi Projects and Infrastructure Centre, Maysarah Mahmoud, said on a tour of Istanbul.

💰 Swiss Banking: Swiss wealth management firm Julius Baer is expanding into Abu Dhabi with a new advisory office in the ADGM freezone set to open in December.

UAE President Sheikh Mohamed bin Zayed and King Hamad of Bahrain oversaw a joint military exercise in Bahrain on Saturday.

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, has approved Dubai’s general budget cycle for the fiscal years 2026-2028, with a record total expenditure of $82.4 billion.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, UAE Minister of Defense and Chairman of the Supreme Space Council, chaired the Council’s second meeting on Sunday.

Sheikh Hamdan appointed Hesham Mohammed Abdulrahim Al Olama as CEO of the Media Development Sector and Rashid Humaid Saeed Al Marri as CEO of the Media Regulation Sector at the Dubai Media Council on Monday.

Sheikha Al Mayassa bint Hamad Al-Thani, the sister of Qatar’s Emir Sheikh Tamim, hosted the inaugural Franca Fund Gala in Doha along with Vogue’s Anna Wintour and Italian director Francesco Carrozzini. Attendees at the glitzy gathering included supermodel Gisele Bündchen, model and TV personality Tyra Banks, actress Tessa Thompson, artist Jeff Koons, designer Christian Louboutin and tennis star Ons Jabeur.

Yasir Al Rumayyan, Governor of the Public Investment Fund, and Saudi Arabia’s Crown Prince Mohammed bin Salman have been rendered in two bronze busts, unveiled at Al Rumayyan’s London residence on Friday. 

Aladdin bin Adbullah Bait Fadhil was appointed CEO of Oman Telecommunications Co..

Naif Alnasser was appointed as Head of Asset Management and Remedial Management Unit of  Bahrain’s Ithmaar Bank.Khaled Abdullah Belhoulpresented his credentials to Masoud Pezeshkian, President of Iran, as Ambassador Extraordinary and Plenipotentiary of the UAE.

Gerry Cardinale, RedBird Capital Partners founder and Managing Partner, told Axios Business Editor Dan Primack on Axios Live that his failed attempt to buy London’s Daily Telegraph, initially with backing from the UAE, “just got too political.” “I don’t aspire to be the proprietor of a newspaper. I’m not buying a newspaper. My fund is buying a newspaper,” he said. The Telegraph said on Saturday it was in advanced talks to sell itself to DMGT, the owner of right-wing tabloid The Daily Mail, for $655 million.

Hary Tanoesoedibjo, founder of Indonesia’s MNC Group conglomerate and a longtime associate of U.S. President Donald Trump, is the subject of a report in the Financial Times about Trump’s real estate deals and political involvement in Indonesia. Trump has been trying to persuade Indonesia to join the Abraham Accords and normalize relations with Israel. 

Lakshmi Mittal, the Indian billionaire businessman, is leaving the U.K. for Dubai, blaming new taxes on the super-rich.

🎞 Blasting Off: Emmy Award winner David Darg has signed on to direct a new film based on the Arab world’s first female astronaut. The 90-minute drama titled, “The Desert Beyond,” is a fictionalized version of the real-life story of Nora Al Matrooshi, who last year became the first Arab woman to qualify as an astronaut in the UAE Space Agency’s training program, Deadline reports. “We’re bringing a female-driven story from the Arab world to a global audience – one that shows women not only breaking barriers, but defining what leadership and growth look like in the Middle East today,” producer Carla DiBello told the Hollywood trade publication. Rasha Al Mubarak is executive producer.

Nov. 19-23, Abu Dhabi. Abu Dhabi Art. One of the region’s biggest art fairs marks its 17th and final year before it relaunches as Frieze Abu Dhabi next year. Manarat Al Saadiyat.

Nov. 24-27, Dubai. Big 5 Global. Addressing the challenges shaping the construction and urban development community today and tomorrow. Dubai World Trade Center.

Nov. 25-26. Riyadh. Global Sustainability Expo. Dedicated to advancing sustainability practices across industries. The Arena Riyadh.

Nov. 26-27, Abu Dhabi. CyberQ 2025. The UAE’s flagship summit for cybersecurity and quantum technologies. ADNEC Center.

Dec. 1-2, UAE. UAE National Day. A two-day public holiday to celebrate the UAE’s 54th National Day, also known as Eid Al Etihad. 

Dec. 4-5, Abu Dhabi. Milken Institute Middle East and Africa Summit. Investors, corporate executives and policymakers gather to discuss prospects for investment in the region. St. Regis Saadiyat Island. 

Dec. 7, Abu Dhabi. F1 Abu Dhabi Grand Prix 2025. The F1 season finale and one of the most hotly anticipated races in motorsport. Yas Marina Circuit. 

Dec. 8-9, Riyadh. Hydrogen Arabia Summit & Exhibition. The inaugural event is aimed at positioning the Kingdom as a hub for hydrogen and clean energy collaboration. Crowne Plaza Riyadh RDC.

Dec. 8-9, Abu Dhabi. Bitcoin MENA 2025. An event dedicated to advancing Bitcoin and blockchain understanding and adoption. ADNEC Center.

Dec. 8-10, Abu Dhabi. BRIDGE Summit. Bringing together media executives, innovators, academia and NGOs, policymakers, and thought leaders to redefine the media landscape. ADNEC Center.

Dec. 8-11, Abu Dhabi. Abu Dhabi Finance Week. The largest financial event in the region, brings together the world’s top minds to redefine and shape the future of global markets. The Grand Steps, Al Maryah Island.

MAPLE LEAF DIPLOMACY

Canada’s Prime Minister Mark Carney is “very confident” that his country can more than double its trade with the UAE in less than a decade. Speaking to the Canada-UAE Business Council today, Carney said his government is finalizing a framework agreement to spend more than $50 billion in fields including energy, AI logistics and mining. Among the commitments, Carney said his government was finalizing a $1 billion investment in a project to expand critical minerals processing capacity. “To the uninitiated, Canada and the UAE can appear as different as snow and sand, yet we’re deeply, deeply aligned,” he said. In the wake of the visit, Inovia Capital, one of Canada’s biggest VC tech investors, announced today that it would open an office in Abu Dhabi’s ADGM free zone.

TRANSFORMING TRADES

Saudi Arabia’s Tadawul Exchange plans to roll out a “new generation” of investment products, including debt instruments and derivatives. CEO Khalid Al-Hussan told Asharq Bloomberg in an interview that the Saudi financial market is “going through the fastest stage of its development in decades,” adding that it is “racing to innovate new products… in preparation for a digital expansion phase reliant on AI and blockchain.” Over the past eight years, the number of listed companies has risen to 380 from 100 with total capitalization exceeding $2.5 trillion. Al-Hussain noted that the amount raised through initial public offerings since 2018 has exceeded $130 billion.

International Holding Co.: IHC has joined a list of potential bidders for the global assets of Lukoil, following U.S. sanctions on one of Russia’s biggest oil companies, Reuters reports. Lukoil has stakes in oilfields in Kazakhstan, Uzbekistan, Iraq, Mexico, Ghana, Egypt, the UAE and Nigeria, as well as three refineries in Europe and hundreds of retail fuel stations globally. Other bidders include ExxonMobil, Chevron and U.S. private equity firm Carlyle.

International Holding Co.: IHC plans to exit from non-strategic minority investments worth up to $25 billion over the next 18 months, CEO Syed Basar Shueb told Reuters.

Qatar Investment Authority: Qatar’s sovereign wealth fund is revising its plans for redeveloping the HSBC Tower in London’s Canary Wharf so that it can retain up to 80% of the office space, shifting away from previous mixed-use plans, amid stronger office demand, Reuters reports.

ADQ: AD Ports, a subsidiary of ADQ, acquired the Public Investment Fund’s full stake in Alexandria Container & Cargo Handling Co for $279 million.

ADQ: AD Ports Group subsidiary KEZAD Group, has signed two land lease agreements worth more than $299 million with two leading Indian business groups. 

🚗 Auto Pact: Saudi Arabia’s Ministry of Investment signed a preliminary agreement with Dutch car maker Stellantis and Saudi auto products firm Petromin, to manufacture cars in the kingdom.

🌐 Raising Security: UAE-based AI digital security company Secure closed a $4.5 million funding round, which was led by venture investor Disrupt.

⚗️ Genetic AI: Cassidy Bio, an Israeli biotech startup, raised $8 million in seed funding to build an AI-driven platform that accelerates design of gene-editing therapies.

🏘️ Open House: Saudi Arabia’s plans to allow foreigners to own a wide range of real estate, including in Mecca, are on track, with the new rules to kick in from January, Bloomberg reports.

🛢️ Oil Talks: Libya’s National Oil Company is finalizing preparations for February’s first oil exploration bid round in 17 years, offering 22 offshore and onshore concessions.

💰 Exit India: Emirates NBD India is among potential buyers who are interested in taking over Deutsche Bank’s retail and wealth management business in India, Bloomberg reports. 

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, witnessed the launch of a new strategy from the Ministry of Foreign Trade.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, attended the opening ceremony of the Natural History Museum Abu Dhabi in the Saadiyat Cultural District.

U.S. President Donald Trump received assurances from the World Economic Forum that “woke” topics, such as female empowerment, diversity and climate change, would not be included in panel discussions as a condition to his participating in the annual Davos event, the Financial Times reports.

Pope Leo XIV, met with Dr. Khalid Ghanem Al Ghaith, UAE Secretary-General of the Higher Committee of Human Fraternity, at the Vatican on Thursday.

Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, said that the country is in advanced talks with Japan and the EU over comprehensive economic partnership agreements. 

President Alexander Stubb of Finland said in an interview with The National that he is looking to enhance trade and technological relations with the UAE.

🧑‍🍳 Bon appétit: Slow-cooked young camel with foie gras and grilled spiny lobster with tamarind and curry leaves are among the locally-inspired dishes to be served up at the Ducasse in AlUla pop-up this December in Saudi Arabia. Designed by famed French-born Monagasque chef Alain Ducasse, the five or seven-course meal will use 80% local produce, including camel, dates, spices and seafood from the Red Sea, prepared with French techniques, Arab News reports.

Nov. 19-23, Abu Dhabi. Abu Dhabi Art. One of the region’s biggest art fairs marks its 17th and final year before it relaunches as Frieze Abu Dhabi next year. Manarat Al Saadiyat.

Nov. 24-27, Dubai. Big 5 Global. Addressing the challenges shaping the construction and urban development community today and tomorrow. Dubai World Trade Center.

Nov. 25-26. Riyadh. Global Sustainability Expo. Dedicated to advancing sustainability practices across industries. The Arena Riyadh.

Nov. 26-27, Abu Dhabi. CyberQ 2025. The UAE’s flagship summit for cybersecurity and quantum technologies. ADNEC Center.

Dec. 1-2, UAE. UAE National Day. A two-day public holiday to celebrate the UAE’s 54th National Day, also known as Eid Al Etihad. 

Dec. 4-5, Abu Dhabi. Milken Institute Middle East and Africa Summit. Investors, corporate executives and policymakers gather to discuss prospects for investment in the region. St. Regis Saadiyat Island. 

Dec. 7, Abu Dhabi. F1 Abu Dhabi Grand Prix 2025. The F1 season finale and one of the most hotly anticipated races in motorsport. Yas Marina Circuit. 

Dec. 8-9, Riyadh. Hydrogen Arabia Summit & Exhibition. The inaugural event is aimed at positioning the Kingdom as a hub for hydrogen and clean energy collaboration. Crowne Plaza Riyadh RDC.

Dec. 8-9, Abu Dhabi. Bitcoin MENA 2025. An event dedicated to advancing Bitcoin and blockchain understanding and adoption. ADNEC Center.

Dec. 8-10, Abu Dhabi. BRIDGE Summit. Bringing together media executives, innovators, academia and NGOs, policymakers, and thought leaders to redefine the media landscape. ADNEC Center.

Dec. 8-11, Abu Dhabi. Abu Dhabi Finance Week. The largest financial event in the region, brings together the world’s top minds to redefine and shape the future of global markets. The Grand Steps, Al Maryah Island.

AI HOLLYWOOD

Saudi Arabia has deepened its push into artificial intelligence with a $900 million dollar investment in Luma AI, a Silicon Valley company developing technology that could reshape film production. Luma’s executives, who were present at the Future Investment Initiative last month in Riyadh, raised funds in a round led by Humain, alongside AMD Ventures and existing backers including Andreessen Horowitz and Matrix Partners. Humain and Luma AI are also building a 2-gigawatt data centre in the kingdom, known as Project Halo, which Luma CEO Amit Jain said would meet regional demand and “a big portion” of the company’s global compute needs, Arabian Gulf Business Insight reports. Jain added that the kingdom’s combination of land, low-cost solar power and close U.S. ties made it an attractive location for large-scale AI infrastructure.

COMIC RELIEF

Speculation is growing over the role of Gulf sovereign wealth funds in Paramount’s bid for Warner Bros. Discovery, despite the media and entertainment company attempting to throw cold water on the rumours. Paramount is seen as the favorite among a cohort of potential suitors, including Netflix and Comcast, which are preparing bids for the entertainment conglomerate, which owns iconic brands including CNN, HBO and DC Comics. Variety reported on Tuesday that the Ellison family, which owns 100% of Paramount Skydance, was putting together a $71 billion bid with backing from Saudi Arabia’s Public Investment Fund, the Qatar Investment Authority and the Abu Dhabi Investment Authority. Paramount responded by saying the information in the report was “categorically inaccurate.” However, the Financial Times reported that Paramount held “preliminary talks” with the PIF and other investors about backing the deal separately.

Mubadala: The Abu Dhabi Investment Council, an independently-run unit of the sovereign wealth fund, more than tripled its stake in the iShares Bitcoin Trust ETF in the third quarter to nearly 8 million shares just before Bitcoin’s steady ascent turned into a steep selloff, Bloomberg reports.

Masdar: Masdar and Tadweer Group signed a preliminary agreement to develop Abu Dhabi’s first commercial-scale waste-to-SAF plant, which will convert about 500,000 tonnes of waste annually into sustainable aviation fuel using green hydrogen and waste gasification.

Wafra: The $28 billion money manager owned by Kuwait’s state pension agency, has bought a minority stake in the $192 billion European private markets firm Ardian, Bloomberg reports.

Qatar Investment Authority: Blue Owl Capital, a New York asset management firm that has backing from the QIA and Mubadala, has abandoned its planned merger of two private-credit funds after concerns it could trigger as much as 20% in losses for investors, the Financial Times reports.

🪖 Defense Alliance: Abu Dhabi’s EDGE Group and Italian aerospace firm Leonardo said they will form a joint venture in the UAE to produce advanced defense systems.

💰 Coastal Investment: State-run Minerals Development Oman has signed a $530 million concession agreement with India’s JSW Group to mine gypsum and limestone in Dhofar.

🌱 Seed Round: UAE-based AI SaaS company Kingpin raised $3.5 million in a seed funding round backed by investors including San Francisco-based Infinity Ventures, with support from Abu Dhabi business accelerator Hub71.

🚢 Tanker Mystery: Iran has released the seized oil tanker Talara and its crew, minus its cargo, Bloomberg reports.

🪸 Climate Coup: Turkey is expected to host next year’s COP31 climate meeting after Australia dropped its bid to host the annual event.

🪙 Approved Coin: The UAE Central Bank has allowed AI-powered bank Zand to launch Zand AED, the first officially approved digital token backed by the Dirham.

🔋 Asia Expansion: Abu Dhabi-listed NMDC Energy is, opening new branches in Taiwan and in Shanghai, China.

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, announced the establishment of a national investment fund with initial capital of $10 billion to encourage foreign investment.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, will lead the UAE delegation at the 20th G20 summit, which takes place Nov. 22-23, in Johannesburg, South Africa. 

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the Central Bank of the UAE, met with Pan Gongsheng, Governor of the People’s Bank of China, at Qasr Al Watan palace in Abu Dhabi on Wednesday.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, held a phone call with Pablo Quirno, Argentina’s newly appointed Minister of Foreign Affairs, International Trade and Worship. Sheikh Abdullah also held a phone call with David van Weel, Minister of Foreign Affairs of the Netherlands.

Mark Carney, the Canadian Prime Minister, arrived in Abu Dhabi today for a working visit. He is expected to meet with business executives and the heads of the UAE’s sovereign wealth funds.

Abdul Wahab Al-Halabi, a turnaround specialist, has been named Executive Chairman of UAE-based conglomerate IFFCO Group, which operates food brands including London Dairy, as it works with Rothschild & Co. to restructure about $2 billion in debt.

Dilhan Pillay, CEO of Singapore’s Temasek sovereign wealth fund, warns that the weakening U.S. dollar is eroding returns and making U.S.-dollar–denominated assets less attractive, with hedging costs ballooning, Bloomberg reports.

Usman Ahmed, Group CEO of National Bank of Bahrain, was appointed as an Executive Director representing NBB at asset manager SICO.

Mohammed Alawadhi, Managing Director of the U.K.’s Cheval Collection, told The National that the developer plans to launch up to seven projects in Saudi Arabia over the next three years as the market opens up to foreign buyers.

Lourdes Vega, a Professor at Khalifa University, was included in the Women in Hydrogen 50 for 2025 global list’s Technology and Innovation category.

🦖 Dino Date: The Natural History Museum Abu Dhabi, one of the star attractions of the Saadiyat cultural district and the first of its kind in the region, will open to the public this weekend. Among the artifacts on display will be a nearly 12-meter (38-foot)-tall Tyrannosaurus rex skeleton named Stan and a 7-billion-year-old meteorite. The museum sits between immersive digital art museum TeamLab Phenomena Abu Dhabi, which opened in February, and the Louvre Abu Dhabi. The launch comes less than two weeks before the Zayed National Museum opens its doors to the public on Dec. 3.

Nov. 17-21, Dubai. Dubai Airshow 2025. The biennial exhibition attracts aerospace companies from around the world to the UAE. DWC, Al Maktoum International Airport.

Nov. 19-23, Abu Dhabi. Abu Dhabi Art. One of the region’s biggest art fairs marks its 17th and final year before it relaunches as Frieze Abu Dhabi next year. Manarat Al Saadiyat.

Nov. 24-27, Dubai. Big 5 Global. Addressing the challenges shaping the construction and urban development community today and tomorrow. Dubai World Trade Center.

Nov. 25-26. Riyadh. Global Sustainability Expo. Dedicated to advancing sustainability practices across industries. The Arena Riyadh.

Nov. 26-27, Abu Dhabi. CyberQ 2025. The UAE’s flagship summit for cybersecurity and quantum technologies. ADNEC Center.

Dec. 1-2, UAE. UAE National Day. A two-day public holiday to celebrate the UAE’s 54th National Day, also known as Eid Al Etihad. 

Dec. 4-5, Abu Dhabi. Milken Institute Middle East and Africa Summit. Investors, corporate executives and policymakers gather to discuss prospects for investment in the region. St. Regis Saadiyat Island. 

Dec. 7, Abu Dhabi. F1 Abu Dhabi Grand Prix 2025. The F1 season finale and one of the most hotly anticipated races in motorsport. Yas Marina Circuit. 

Dec. 8-9, Riyadh. Hydrogen Arabia Summit & Exhibition. The inaugural event is aimed at positioning the Kingdom as a hub for hydrogen and clean energy collaboration. Crowne Plaza Riyadh RDC.

Dec. 8-9, Abu Dhabi. Bitcoin MENA 2025. An event dedicated to advancing Bitcoin and blockchain understanding and adoption. ADNEC Center.

Dec. 8-10, Abu Dhabi. BRIDGE Summit. Bringing together media executives, innovators, academia and NGOs, policymakers, and thought leaders to redefine the media landscape. ADNEC Center.

Dec. 8-11, Abu Dhabi. Abu Dhabi Finance Week. The largest financial event in the region, brings together the world’s top minds to redefine and shape the future of global markets. The Grand Steps, Al Maryah Island.

NEW LOCATION 

Emirates will invest up to $12 billion in Al Maktoum International as part of the Dubai government’s $35 billion redevelopment of the site, which is slated to replace DXB as the emirate’s main aviation hub by 2032. Sheikh Ahmed bin Saeed, Chairman and CEO of Emirates Group, said total spending will far exceed the headline figure. He said Emirates plans to finance its share of the investment through a combination of cash reserves and new debt. Moreover, U.K. Export Finance, the government-backed export credit agency, announced during the Dubai Airshow that it will invest $3.5 billion to support the participation of the U.K. businesses in the new airport. 

CHASING DEALS

Abu Dhabi asset manager Lunate, which raised about $17 billion in 2024 for its flagship funds, is now planning to raise a larger sum for new funds launching in 2026, Bloomberg reports. Lunate, which manages capital for institutions and family offices, has already deployed approximately $13.5 billion, just two years after its debut. Lunate, which has relationships with more than 100 general partners, including BlackRock and Blackstone, is backed by Abu Dhabi sovereign fund ADQ and Chimera Investment, both tied to UAE national security advisor Sheikh Tahnoon bin Zayed.

Public Investment Fund: The U.S. plans to approve exports of advanced AI chips to Humain, Saudi Arabia’s PIF-backed AI company, as part of a broader tech partnership with the Kingdom.

Public Investment Fund: Saudi Arabia’s PIF-owned The Helicopter Co. bought a 76% stake in Morocco-based Heliconia, one of Africa’s leading helicopter companies, to expand into offshore services and deepen its aviation footprint in North and West Africa.

Public Investment Fund: Riyadh Air, the new Saudi airline owned by the PIF, placed an order for 120 CFM LEAP-1A engines to power its 60 Airbus A321neo aircraft.

ADQ: Etihad Airways has revealed plans to increase its fleet size to 200 aircraft by the end of the decade, CEO Antonoaldo Neves said.

Mubadala: Strata, Mubadala Investment Company’s aerospace manufacturing unit, is in talks to manufacture aircraft engine parts for the first time, acting CEO Sara Al Memari told The National.

EDGE: The UAE defense conglomerate has signed a cooperation agreement with Republikorp, Indonesia’s leading defense holding company, to deliver a $7 billion program for the Indonesian Armed Forces. 

Kuwait Investment Authority: The KIA has become an investor in Brookfield Asset Management’s $10 billion artificial intelligence infrastructure fund.

🤖 Seoul Mates: South Korea will join the UAE’s flagship Stargate AI project, a 1GW data-center campus backed by U.S. firms, strengthening its role in the Gulf’s AI infrastructure buildup.

🛢️ Debt Deal: Kuwait Petroleum Corporation secured a $4.9 billion loan from local banks to support its oil operations and financial resilience.

🏡 Our House: Venn, an Israeli startup that helps manage relationships between landlords and tenants, raised $52 million in a Series B funding round led by NOA Capital and CIM Group.

⛽ Bigger’n Dallas: The Qatar-Exxon Golden Pass LNG plant in Texas is expected to ship its first liquefied gas cargo in February, a milestone for U.S. exports of the gas, Bloomberg reports.

🤝 Syria Gas: Syria has signed a preliminary agreement on gas cooperation with ConocoPhillips and Novaterra to develop existing fields and explore new ones.

💶 New in Town: KKR & Co. is opening an office in Abu Dhabi’s freezone, ADGM, in addition to its offices in Dubai and Riyadh.

💺 Good Seats: Emirates and French aerospace company Safran signed an agreement to build a manufacturing and assembly facility in Dubai to produce up to 1,000 Business Class seats annually.

🔔 Bell Ringer: Saudi real estate firm, Dar Global celebrated its official transfer to the Equity Shares category on the London Stock Exchange by ringing the market-opening bell.

UAE President Sheikh Mohamed bin Zayed received on Tuesday participants of the UAE Government Leaders Programme 2025, which aims to build distinguished Emirati leaders.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, and Sheikh Tahnoon bin Zayed, UAE National Security Adviser, met with Larry Fink, Chairman and CEO of BlackRock, on Wednesday.

Sheikh Khaled bin Mohamed inaugurated Abu Dhabi Art at Manarat Al Saadiyat on Tuesday.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, received Dr. Abdullatif bin Rashid Alzayani, Minister of Foreign Affairs of Bahrain.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai UAE Deputy Prime Minister, Minister of Defense, and Chairman of the Board of Trustees of the Dubai Future Foundation, attended the opening day of the Dubai Future Forum 2025 on Tuesday.

Sheikh Shakhboot bin Nahyan, UAE Minister of State, met with João Manuel Lourenço, President of Angola, in the capital, Luanda, on Tuesday.

Sheikha Latifa bint Mohammed, Chairperson of Dubai Culture and Arts Authority, attended the University of Birmingham Dubai’s 125th anniversary celebration on Tuesday.

Borja Martinez-Laredo was appointed as Location Head of UBS Global Wealth Management Middle East in Abu Dhabi.

Amr Alshaher was appointed Head of Corporate Banking at Bahrain- based Islamic retail bank Ithmaar Bank.

Dr. Trevor Martin, Co-founder and CEO of San Francisco-based Mammoth Biosciences, told the Dubai Future Forum that the world may be less than a decade away from curing all existing genetic diseases.

✈️ Tickets Please: Abu Dhabi’s decommissioned Terminal 1 airport has been temporarily repurposed as a sprawling art and design venue, with galleries from around the world displaying their wares for the traveling art showcase Nomad. The terminal, designed by French architect Paul Andreu, opened in 1982 and was shuttered in 2023 after the opening of Zayed International Airport’s Terminal A. It features a tent-like roof and green-tiled central pillar. In a nod to the building’s history, visitors are given a boarding pass to enter the main exhibition space.

Nov. 17-21, Dubai. Dubai Airshow 2025. The biennial exhibition attracts aerospace companies from around the world to the UAE. DWC, Al Maktoum International Airport.

Nov. 19-20, Dubai. Knowledge Summit. A global platform for knowledge production in the service of sustainable development. Dubai World Trade Center. 

Nov. 19-23, Abu Dhabi. Abu Dhabi Art. One of the region’s biggest art fairs marks its 17th and final year before it relaunches as Frieze Abu Dhabi next year. Manarat Al Saadiyat.

Nov. 24-27, Dubai. Big 5 Global. Addressing the challenges shaping the construction and urban development community today and tomorrow. Dubai World Trade Center.

Nov. 25-26. Riyadh. Global Sustainability Expo. Dedicated to advancing sustainability practices across industries. The Arena Riyadh.

Nov. 26-27, Abu Dhabi. CyberQ 2025. The UAE’s flagship summit for cybersecurity and quantum technologies. ADNEC Center.

Dec. 1-2, UAE. UAE National Day. A two-day public holiday to celebrate the UAE’s 54th National Day, also known as Eid Al Etihad. 

Dec. 4-5, Abu Dhabi. Milken Institute Middle East and Africa Summit. Investors, corporate executives and policymakers gather to discuss prospects for investment in the region. St. Regis Saadiyat Island. 

Dec. 7, Abu Dhabi. F1 Abu Dhabi Grand Prix 2025. The F1 season finale and one of the most hotly anticipated races in motorsport. Yas Marina Circuit. 

Dec. 8-9, Riyadh. Hydrogen Arabia Summit & Exhibition. The inaugural event is aimed at positioning the Kingdom as a hub for hydrogen and clean energy collaboration. Crowne Plaza Riyadh RDC.

Dec. 8-9, Abu Dhabi. Bitcoin MENA 2025. An event dedicated to advancing Bitcoin and blockchain understanding and adoption. ADNEC Center.

Dec. 8-10, Abu Dhabi. BRIDGE Summit. Bringing together media executives, innovators, academia and NGOs, policymakers, and thought leaders to redefine the media landscape. ADNEC Center.

Dec. 8-11, Abu Dhabi. Abu Dhabi Finance Week. The largest financial event in the region, brings together the world’s top minds to redefine and shape the future of global markets. The Grand Steps, Al Maryah Island.

OLYMPICS TORCHED

Saudi Arabia and the International Olympic Committee have “mutually” ended a deal to jointly hold the Olympic Esports Games. The IOC and the kingdom will pursue their own esports ambitions separately, Bloomberg reports. The 12-year agreement, signed last year, was supposed to see Saudi Arabia host the inaugural Esports Olympics, a part of its ambition to be a global hub for gaming. The kingdom held its second Esports World Cup over the summer, attracting more than 2,000 professional players from over 100 countries, and its Public Investment Fund has since signed a blockbuster $55 billion deal to take gaming company Electronic Arts private.

AIRPORT EXPANSION

Abu Dhabi is already planning a major expansion of Zayed International Airport, just two years after it doubled its capacity to 45 million passengers a year with the opening of Terminal A. Construction work will start in two years, with plans to increase capacity to 65 million, The National reports. “We opened in November 2023 and at the first board meeting, I broke the news to the board that we had to think about expansion,” Abu Dhabi Airports Managing Director and CEO Elena Sorlini told the Skift Global Forum East event in the capital. The expansion is partly needed to meet the demands of Etihad Airways, which is planning to double in size and carry 38 million passengers by 2030. The airport is also rolling out the use of biometrics to transit passengers to speed up transfers within the airport, which make up 60% of its current traffic.

International Holding Co.: IHC Real Estate Holding and Alpha Dhabi, both subsidiaries of IHC, sold their stakes in investment and real estate company Modon for more than $7 billion to Abu Dhabi government entity L’imad Holding Co.

International Holding Co.: Alpha Dhabi is also planning to sell about 2% of its 26.5% stake in Abu Dhabi developer Aldar Properties for around $400 million, Bloomberg reports.

Lunate: Alternative investment firm HPS Investment Partners and Abu Dhabi’s Lunate are launching a new investment platform. Lunate will anchor the project with a projected commitment of at least $1 billion.

Mubadala: Pakistan is negotiating with Abu Dhabi Investment Co., a subsidiary of Mubadala, to run Islamabad airport in exchange for 60% of the revenue, Bloomberg reports.

Public Institution for Social Security: Kuwait’s pension fund is restarting private equity allocations and is in discussions with multiple leading buyout firms, Bloomberg reports.

🏭 Mega Project: Egypt’s Ain Sokhna Industrial Zone, within the Suez Canal Economic Zone, will host three major new projects valued at $3.5 billion under an agreement between Kemet Industries Group and Emirati-Chinese company Al Qalaa Red Flag.

💰 Sharjah Sukuk: Sharjah Islamic Bank plans to issue a $500 million islamic bond, to be listed on Euronext Dublin and Nasdaq Dubai, with Emirates NBD Capital and Standard Chartered Bank appointed as joint global coordinators.

🚦 Green Light: U.K. oil services company John Wood Group has published its half-year financial results, a condition of its $292 million takeover by UAE engineering firm Sidara.

👷 Pipe Dream: A Saudi consortium has secured funding to develop a 587km water pipeline in the kingdom, with the project valued at $2.3 billion.

🛢️ Fuel Fraud: Lebanon’s judiciary has charged six companies and four individuals and issued arrest warrants over an alleged Russian oil scam, The National reports.

🎮 Banking Games: Emirati lender Commercial Bank International has launched a venture arm to build and invest in products for gamers, starting with a credit card in partnership with Mastercard.

🛡️ Standing Together: The U.K. has signed an enhanced defense agreement with Qatar to deepen military cooperation.

₿ Virtual World: The Abu Dhabi Real Estate Center signed an agreement with five partners to advance blockchain integration in Abu Dhabi’s real estate sector.

🦘 Aussie Connection: Abu Dhabi Investment Office and the Australia Arab Chamber of Commerce and Industry have signed a strategic partnership to boost trade and investment and support Australian companies entering Abu Dhabi’s high-growth sectors.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, met with South Korean President Lee Jae Myung on the sidelines of the Asia-Pacific Economic Co-operation forum in Gyeongju, South Korea, on Friday. The Crown Prince also met with Lawrence Wong, Prime Minister of Singapore, and Christopher Luxon, Prime Minister of New Zealand.

Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai, launched the Mohammed bin Rashid Endowment District.

Sheikh Sabah Al Khalid Al Sabah, Crown Prince of Kuwait, met with Yuriko Koike, Gov. of Japan, at Bayan Palace in Kuwait on Thursday.

Sheikh Maktoum bin Mohammed, First Deputy Ruler of Dubai and UAE Deputy Prime Minister and Minister of Finance, met with Georges Elhedery, Group CEO of HSBC, at the Dubai International Financial Centre on Thursday.

Sheikh Jarrah Jaber Al Ahmad Al Sabah, Deputy Foreign Minister of Kuwait, met with Muhammad Anis Matta, his Indonesian counterpart, in Kuwait City on Thursday.

Jamie Dimon, CEO of JPMorgan Chase, told The National that his “cockroach” comment about the health of the private credit market was “blown out of proportion.”

Ed Bastian, CEO of U.S. carrier Delta Airlines, told Arabian Gulf Business Insight that the airline hopes to capitalize on economic development in Saudi Arabia and the potential growth of passenger traffic between the two countries with its new direct flights from Atlanta to Riyadh.

Eric Schmidt, the former CEO of Google, told The National at Saudi Arabia’s FII conference in Riyadh that the rise of AI will create more jobs than it destroys.

James Reynolds, the global co-head of Goldman Sachs Asset Management, said in an interview with Asharq Business that the bank is in “productive” talks with the Public Investment Fund and other players in the region.

Rashid Saeed Al Shamsi, Non-Resident Ambassador of the UAE to Niger, met with Ali Mahamane Lamine Zeine, Prime Minister of Niger, at his headquarters in the capital, Niamey. 

🏛️ Rebuilding History: Palmyra’s archaeological museum, which was badly damaged by bombings during the Syrian civil war, will be restored with international funding, The National reports. One of Syria’s most popular sites before the war, Palmyra made headlines in 2025 when ISIS destroyed the Temple of Bel and the Arch of Victory and killed its head of antiquities. Swiss-based foundation Aliph will fund the restoration of the museum, starting with the guesthouse, which will house archaeologists working on the project. Aliph is mostly funded by nations, including the UAE, Saudi Arabia, Kuwait and Morocco, and private donors.

Oct 29-31, Abu Dhabi. International Forum of Sovereign Wealth Funds. An annual forum hosted by Abu Dhabi Investment Authority and Mubadala, bringing together global CEOs and senior executives from sovereign wealth funds. ADGM 

Nov. 1-2, Dubai. Women’s Empowerment Convention. The 3rd Women’s Leadership Forum unites global trailblazers, headlined by fashion icon Anna Wintour and storytelling pioneer Candace Bushnell. Atlantis The Royal Conference Center.

Nov. 3-6, Abu Dhabi. ADIPEC. Bringing together professionals, companies, and government leaders to discuss and showcase the latest developments in oil, gas, and cleaner energy technologies. ADNEC Center.

Nov. 4-6, Dubai. Gulfood Manufacturing. Billed as the most influential F&B manufacturing event in the world. Dubai World Trade Center. 

Nov. 4-9, Dubai. Dubai Design Week. The Middle East’s largest creative festival, showcasing more than 200 events across architecture, product, furniture, interior and graphic design. D3.

Nov. 10-12, Abu Dhabi. DRIFTx. An international exhibition showcasing smart and autonomous mobility solutions. Yas Marina Circuit.

Nov. 10-15, Abu Dhabi. RoboCup Asia-Pacific. A regional competition and event for AI and robotics where teams compete on challenges including humanoid robot soccer matches. ADNEC Center.

Nov. 11-14, Dubai. ICOM 2025. Bringing together museum professionals and cultural experts from around the world to explore the evolving role of museums. Dubai World Trade Center.

Nov. 17-19. Doha. Qatar Entrepreneurship Conference (ROWAD). Qatar’s national entrepreneurship platform and a flagship Global Entrepreneurship Week event, connecting startups, SMEs, and ecosystem leaders. Doha Exhibition & Convention Center.

Nov. 17-21, Dubai. Dubai Airshow 2025. The biennial exhibition attracts aerospace companies from around the world to the UAE. DWC, Al Maktoum International Airport.

Nov. 25-26. Riyadh. Global Sustainability Expo. Dedicated to advancing sustainability practices across industries. The Arena Riyadh.

Nov. 26-27, Abu Dhabi. CyberQ 2025. The UAE’s flagship summit for cybersecurity and quantum technologies. ADNEC Center.

Dec. 8-9, Riyadh. Hydrogen Arabia Summit & Exhibition. The inaugural event is aimed at positioning the Kingdom as a hub for hydrogen and clean energy collaboration. Crowne Plaza Riyadh RDC.

Dec. 8-9, Abu Dhabi. Bitcoin MENA 2025. An event dedicated to advancing Bitcoin and blockchain understanding and adoption. ADNEC Center.

Dec. 8-10, Abu Dhabi. BRIDGE Summit. Bringing together media executives, innovators, academia and NGOs, policymakers, and thought leaders to redefine the media landscape. ADNEC Center.

CHIP DRIVE

Electric vehicle maker Lucid is partnering with chip giant Nvidia to launch cars with near-full autonomy. The California-based company, which is backed by Saudi Arabia’s Public Investment Fund, will use Nvidia’s Drive AV system in its mid-sized vehicles, Lucid revealed at the FII conference in Riyadh on Wednesday. The system has level 4 autonomous driving capability, which is the second-highest level. Level 5, the highest level, does not even require vehicles to have a steering wheel. “We’re taking the next step by combining cutting-edge artificial intelligence with Lucid’s engineering excellence to deliver the smartest and safest autonomous vehicles on the road,” Marc Winterhoff, interim CEO of Lucid, said. It comes after Lucid agreed in July to supply 20,000 vehicles fitted with a level 4 platform developed by U.S. robotics company Nuro to ride-hailing company Uber for its global robotaxi program.

OPEN DOORS

Abu Dhabi’s Rotana hotel chain is among the global hospitality groups planning to launch in Syria as the country opens up and requires more rooms to house an expected boom in business and leisure travelers. “If Syria opens up again, as it is now, Emiratis will be going there to do business and we need to be there,” Rotana CEO Philip Barnes told The National. Among those lining up for meetings with Syrian President Ahmed Al Sharaa at the FII conference in Riyadh this week were executives from Accor and Hilton Worldwide Holdings. Accor is already in talks with developers and plans to have 10 to 15 hotels in Syria within five years, the newspaper reports.

Mubadala: The Abu Dhabi sovereign fund, alongside private equity firm Cinven and UAX founder Jesús Núñez, will acquire a majority stake in Madrid’s Universidad Alfonso X el Sabio Group from CVC Funds.

Abu Dhabi Investment Authority: ADIA, Nordic private equity house EQT and Auba Investment have sold 8.4% of their stake, worth $3.27 billion, in Swiss skincare specialist Galderma, Zawya reports. Galderma, which makes Cetaphil, went public last year in one of Europe’s largest IPOs.

G42: The Abu Dhabi AI powerhouse has expanded its collaboration with U.S. networking and security company Cisco. Under a new agreement Cisco will power, connect, and secure a large-scale AI cluster deployed by G42, featuring AMD’s advanced MI350X GPUs. 

Public Investment Fund: PIF-backed utility Acwa Power has announced clean energy deals worth $10 billion. The biggest is a $6 billion deal signed between Acwa, Aramco and PIF unit Badeel to develop 70% of Saudi Arabia’s 2030 renewable energy targets.

Public Investment Fund: Saudi Arabia’s sovereign wealth fund and U.S. asset manager BlackRock have partnered to launch mutual funds.

ADQ: AD Ports Group, controlled by the Abu Dhabi sovereign fund, signed an initial agreement with the Indian government of Maharashtra paving the way to invest up to $2 billion in the state’s ports and shipbuilding sectors.

ADQ: Abu Dhabi National Energy Company, known as TAQA, sold its entire stake in an Indian coal power plant for $105 million as part of a pivot towards green power.

🛒 Shopping Trip: Dubai retail conglomerate Al-Futtaim is planning to invest an additional $2.7 billion in Saudi Arabia over the next three years.

💰 Cash Zap: Emirates NBD has inked a $423 million credit facility with Egypt’s El Sewedy Electric for regional expansion across Egypt, Saudi Arabia and the UAE.

📷 Tourism Boost: Oman signed 36 contracts worth $260 million for the construction of tourism projects as part of its Vision 2040 project.

🚢 Ship Shape: Dubai-based global terminal operator DP World has committed to invest an additional $5 billion in India’s maritime infrastructure.

🔍 Breaking Ground: Dubai Investments is investing $163 million to build a second production line for its subsidiary Emirates Float Glass.

🧊 Chilling Offer: Saudi-Swiss cold-chain tech company Consolidated Grünenfelder Saady is planning an IPO on the Saudi stock exchange next month.

📈 GDP Boost: Saudi Arabia’s economy expanded at 5% year-on-year in the third quarter, the fastest pace since early 2023, helped by rising oil production and big state investments in non-oil sectors. 

🏘️ Crypto Homes: Dubai property company Idealist Real Estate entered a strategic partnership with Citi Developers to integrate crypto payments into real estate transactions.

🏦 Fed Cuts: Gulf central banks cut interest rates in tandem with the U.S. Federal Reserve’s second reduction of 25 basis points this year.

Saudi Arabia’s Crown Prince Mohammed bin Salman held meetings with heads of state on the sidelines of the FII conference in Riyadh on Wednesday, including Ahmed Al Sharaa, President of Syria; Vjosa Osmani, President of Kosova; Manuel Marrero Cruz, Prime Minister of Cuba; Gustavo Petro, President of Colombia; Teodoro Obiang Nguema Mbasogo, President of Equatorial Guinea; and Han Zheng, Vice President of China. The meetings were also attended by various ministers and dignitaries, including Saudi Foreign Minister Prince Faisal bin Farhan.

Adel Al-Jubeir, Saudi Arabia’s Minister of State for Foreign Affairs, Cabinet Member, and Climate Envoy met with former Canadian Prime Minister Stephen Harper on the sidelines of the FII conference on Wednesday.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, met with Michel Demaré, Chair of biopharmaceutical company AstraZeneca, along with other members of AstraZeneca’s board, in Abu Dhabi on Wednesday.

António Costa, President of the European Council, visited the Sheikh Zayed Grand Mosque in Abu Dhabi on Wednesday, accompanied by Lucie Berger, Ambassador of the European Union to the UAE, and several senior EU officials. 

Faisal Alibrahim, Saudi Arabia’s Minister of Economy and Planning, met with Vietnam’s Deputy Prime Minister Ngugen Chi Dung in Riyadh for talks to enhance cooperation. 

Yuriko Koike, Tokyo Gov., arrived in Kuwait on Wednesday for an official visit and was greeted at the airport by Sheikh Abdullah Salem Al-Ali Al-Sabah, Gov. of the Kuwait City.

Syrian President Ahmed Al Sharaa met with FIFA President Gianni Infantino on the sidelines of the FII conference in Riyadh on Wednesday.

Mohamed Alabbar, founder of Dubai-listed Emaar Properties, said during a panel discussion at the FII conference in Riyadh that his company is looking to enter China’s real estate market.

Belkasem Haftar, son of Libyan military strongman Khalifa Haftar, is using the FII conference in Riyadh to drum up interest in Libya as an attractive destination for investment, Bloomberg reports.

Bill Winters, Group CEO of Standard Chartered, told The National on the sidelines of the FII conference that the Middle East wealth management business is one of the fastest growing in the world for U.K.-based lenders.

Will Ahmed, Founder & CEO of wearable tech company Whoop, spent several days touring the Gulf, visiting Qatar, Saudi Arabia and the UAE. He announced the launch of an R&D center called Whoop Labs Doha in partnership with Invest Qatar and a partnership with digital health platform Lean Business Services in Saudi Arabia. 

🎤 Learning Moment: Maharat, the Arab world’s answer to the popular American subscription service MasterClass, is now offering bite-sized versions of its courses, The National reports. The platform, which launched in February, features lessons in business, fashion and music from the likes of Toufic Kreidieh, Executive Chairman of Brands for Less Group, celebrity make-up artist Bassam Fattouh and Lebanese singer Ragheb Alama. The new feature, called Playlists, condenses the courses into 2-3 minute videos and is touted as the company’s antidote to doom-scrolling.

Oct 29-31, Abu Dhabi. International Forum of Sovereign Wealth Funds. An annual forum hosted by Abu Dhabi Investment Authority and Mubadala, bringing together global CEOs and senior executives from sovereign wealth funds. ADGM 

Nov. 1-2, Dubai. Women’s Empowerment Convention. The 3rd Women’s Leadership Forum unites global trailblazers, headlined by fashion icon Anna Wintour and storytelling pioneer Candace Bushnell. Atlantis The Royal Conference Center.

Nov. 3-6, Abu Dhabi. ADIPEC. Bringing together professionals, companies, and government leaders to discuss and showcase the latest developments in oil, gas, and cleaner energy technologies. ADNEC Center.

Nov. 4-9, Dubai. Dubai Design Week. The Middle East’s largest creative festival, showcasing more than 200 events across architecture, product, furniture, interior and graphic design. D3.

Nov. 17-21, Dubai. Dubai Airshow 2025. The biennial exhibition attracts aerospace companies from around the world to the UAE. DWC, Al Maktoum International Airport.

Dec 8-9, Riyadh. Hydrogen Arabia Summit & Exhibition. The inaugural event is aimed at positioning the Kingdom as a hub for hydrogen and clean energy collaboration. Crowne Plaza Riyadh RDC.