WHEN IN ROME

UAE President Sheikh Mohamed bin Zayed’s state visit to meet Italian Prime Minister Giorgia Meloni in Rome produced a range of deals aimed at strengthening both business and security ties between the two countries. Emirati officials signed deals on Monday to invest $40 billion in Italy across projects ranging from artificial intelligence to undersea cables and renewable energy. “This collaboration underscores the importance of Italy and the UAE as strategic partners for innovation, sustainable economic development and technological exchange,” the countries said in a joint statement. Sheikh Mohamed’s trip was the first by a UAE President to Italy. Meloni visited Abu Dhabi in January.

GREEN DEBT

Saudi Arabia, the world’s biggest oil exporter, is selling green bonds to help finance its gradual transition from fossil fuels. The government launched an offering today of seven-year green notes denominated in euros, Bloomberg reports. The bond sale comes as Saudi Arabia pursues its target of reaching net zero emissions by 2060. The kingdom has outlined a sustainability agenda that includes planting 10 billion trees and declaring 30% of Saudi Arabia’s land and sea as protected areas.

Public Investment Fund: The PIF’s manufacturing hub Alat and Germany’s TK Elevator signed a $167 million joint venture agreement to produce elevators and escalators in Saudi Arabia.

International Holding Co.: Sheikh Tahnoon bin Zayed, Chairman of the Abu Dhabi-owned investment company, said a 54% jump in 2024 revenue showed that, “by strategically divesting from mature assets and replenishing our portfolio with innovative investments, we continue to reinforce our position as a global investment powerhouse.”

ADQ: The Abu Dhabi sovereign wealth fund signed a draft agreement with Italian energy company Eni to cooperate in strengthening supply chains for critical minerals such as lithium, cobalt, and nickel.

Qatar Investment Authority: The sovereign wealth fund is evaluating eight more VC firms for inclusion in its $1 billion Fund of Funds, which seeks to bring tech startups to Qatar.

Danantara: Indonesia launched its second sovereign wealth fund on Monday, pledging to help drive greater industrial development in Southeast Asia’s largest economy with assets under management exceeding $900 billion.

💸 Moving Money: Mansa, a Dubai-based startup that facilitates cross-border payments, raised $10 million from institutional investors and in a pre-seed funding round co-led by Tether and Polymorphic Capital.

🖥️ Tech Fund: UK-based Pinewood.AI is acquiring Dubai-based autotech start-up Seez for $42 million.

☁️ No AI: Saudi IT company Al Moammar Information Systems Co. sold its entire OpenAI investment for $8.4 million, netting a $3.4 million gain.

☢️ European Reactor: Abu Dhabi’s Emirates Nuclear Energy Co. is getting ready to invest in Newcleo, a French-Italian operator of lead-cooled fast nuclear reactors, in a deal that could be worth as much as $523 million, Bloomberg reports.

⛽ LNG Woes: Qatar’s effort to sell liquefied natural gas through a massive increase in production is being complicated by demands from Chinese and Indian buyers for lower prices and more favorable terms, Bloomberg reports.

🏗️ Saudi Built: The Saudi Authority for Industrial Cities and Technology Zones plans an aviation cluster at Modon Oasis in Jeddah to localize advanced aviation technologies and strengthen supply chains.

💎 Gulf Diamond: Lusail, Qatari Diar’s $250bn flagship project, aims to attract local and foreign investors with freehold properties, residency options, and flexible financing. 

🤑 New Interest: Dubai-based engineering and construction consultancy Sidara has begun renegotiations to take over British engineer John Wood Group, which has faced financial challenges.

Prince Khalid bin Salman, Saudi Arabia’s Defense Minister, met with U.S. Defense Secretary Pete Hegseth at the Pentagon on Monday to discuss ways to strengthen the bilateral relationship between Washington and Riyadh.

Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member of the UAE and Ruler of Ras Al Khaimah, met Federico J. González, Executive Vice Chairman of Radisson Hotel Group, and Raki Phillips, CEO of Ras Al Khaimah Tourism Development Authority, on Monday at his palace in Saqr bin Mohammed City.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Deputy Prime Minister and Minister of Defence, met on Tuesday with Sheikh Hazza bin Zayed, Ruler’s Representative in Al Ain Region, in the presence of Sheikh Maktoum bin Mohammed, First Deputy Ruler of Dubai and UAE Deputy Prime Minister and Minister of Finance.

Masayoshi Son, CEO of Japan’s SoftBank, said during a panel discussion at the FII Priority Summit in Miami last week that the bank has not “fully delivered” the expected returns to Saudi Arabia’s sovereign wealth fund. 

Anton Bawab joins Dubai-based bespoke hotel development advisory firm InnSight Advisory as Partner and Managing Director, responsible for leading the company’s growth and operations in the Middle East, Africa and South Asia.

🎶 Culture Circuit

🧪 High Tech Art: Final preparations are under way for the opening of TeamLab Phenomena Abu Dhabi on April 18, adding another feather to the cap of the expansive Saadiyat Cultural District. Led by a high-tech Tokyo art collective renowned for its blending of art, science and technology, the new museum will fill 17,000 square meters with ever-changing immersive installations.

Feb. 23-26, Doha. Web Summit Qatar 2025. Bringing together tech entrepreneurs, innovators, investors, and industry leaders from around the world. Doha Exhibition and Convention Center.

Feb. 25-March 1, Dubai. WCA World 2025. The conference brings together some of the world’s biggest independent freight forwarders. Dubai World Trade Centre.

Feb. 26-27, Abu Dhabi. Investopia 2025. The fourth edition of the summit, to be held under the theme “Leveraging the Power of Massive Investments.” St. Regis, Abu Dhabi.

March 17-19, Dubai. Dubai International Horse Fair. A gathering of the equestrian industry and horse lovers from around the world. Dubai World Trade Centre.

April 7-9, Abu Dhabi. AIMCongress 2025. A premier investment platform bringing together thought leaders, decision-makers and entrepreneurs. ADNEC.

April 7-9, Dubai. Middle East Energy. Bringing together international energy suppliers to discuss products and solutions. Dubai World Trade Centre.

April 13-15, Riyadh. Saudi Food Manufacturing. Back for a second year, the focus turns to logistics solutions, including advancements in AI-driven supply chains, robotics, and sustainable automation technologies. Riyadh Front Exhibition & Conference Centre.

April 14-16, Dubai. IPS Congress. The Middle East’s largest international property sales event. Dubai World Trade Centre.

April 17-19, Dubai. World Art Dubai. A four-day art fair featuring more than 10,000 artworks. Dubai World Trade Centre.

April 18-20, Abu Dhabi. Middle East Film and Comic Con 2025. The region’s largest pop culture festival returns for its 13th year. ADNEC.

April 21-23, Abu Dhabi. Electric Vehicle Innovation Summit 2025. The Middle East’s largest annual event dedicated to shaping the future of electric mobility. ADNEC.

April 29-30, Abu Dhabi. Digital Transformation Summit UAE 2025. In its 37th edition, the summit is expected to be attended by over 300 C-suite executives, directors, and technology leaders. Sheraton Abu Dhabi Hotel and Resorts.

April 30-May 1, Dubai. Token2049 Dubai. A global conference dedicated to the crypto and blockchain ecosystem. Madinat Jumeirah.