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Saudi Arabia’s Public Investment Fund will sell one of the country’s most prestigious soccer clubs to billionaire Prince Alwaleed bin Talal, as it continues its sports privatization drive. The prince’s conglomerate Kingdom Holding Co. is set to own 70% of Al Hilal in a deal that values the club at about $373.2 million, with the PIF maintaining a minority stake, Bloomberg reports. The $1 trillion sovereign wealth fund is also seeking to sell the three other Saudi Pro League clubs that it owns stakes in and has opened the door to potential foreign investment. “PIF’s investment in sports clubs has fulfilled targets, driving up commercial revenue, matchday income, retail, and sponsorships,” PIF Governor Yasir Al-Rumayyan said, unveiling the fund’s new investment strategy this week.

MEGA IPO

Reliance Industries, the Indian conglomerate led by billionaire Mukesh Ambani is expected to file paperwork for an IPO of Jio Platforms in May, in what could become India’s biggest-ever stock market debut. Gulf sovereign funds including Mubadala, the Abu Dhabi Investment Authority and Saudi Arabia’s Public Investment Fund have ploughed billions into Jio and are expected to reap a significant windfall if they pare back their stakes through the listing. Of the three, the PIF is understood to have the biggest stake, paying $1.5 billion for 2.23% of the company in 2020. The listing, which is being managed by as many as 19 banks, will mark the first public offering by a major Reliance unit in nearly two decades, Bloomberg reports. It comes as Gautam Adani overtook Ambani as Asia’s richest man this week after the latter’s wealth took a hit from the energy crisis sparked by the Iran war. They have fortunes of $92.6 billion and $90.8 billion respectively.

Lunate: Abu Dhabi-based ​private equity investment ⁠manager Axight, owned by Lunate, will ‌buy a minority stake in La Trobe Financial from ​Brookfield Asset Management, in a deal that pushes the value of ​the Australian ​alternative asset manager to $2.15 billion.

Qatar Investment Authority: The QIA joined Plata’s $405 million Series C round, which values the Latin American digital bank at $5 billion.

Qatar Investment Authority: Sheikh Bandar bin Mohammed, Governor of Qatar Central Bank, and Chairman of Qatar Investment Authority, met with Anthony Malkin, Chairman and CEO of Empire State Realty Trust, on Thursday.

Oman Investment Authority: A subsidiary of the OIA has started construction on a 500MW solar plant with battery storage in Botswana with Botswana Power Corporation.

XRG: Nameer Siddiqu, the Chief Investment Officer of ADNOC’s  investment firm XRG, said during Semafor’s World Economy Summit that short-term volatility does not change XRG’s long-term investment approach.

🥤 New Squeeze: Abu Dhabi’s Emirates International Investment Co. is buying a minority stake in Danish cafe chain Joe & the Juice at a valuation of $1.8 billion, Bloomberg reports.

☀️ Energy Star: Norway’s Scatec said that its 60 MW Tozeur solar plant in Tunisia has begun commercial operations.

💰 Towering Deal: Al Yamamah Steel signed a $33.6 million contract with SEPCO III to supply wind towers for the Yanbu wind farm.

📉 Drop Off:  MENA equity and equity‑related issuances slumped by 91% year-on-year  in the first quarter of 2026, with total proceeds falling to $472.9 million, according to new data.

🏝️ Faded Dream: Anantara World Islands Dubai Resort, the first hotel to open on the emirate’s ambitious offshore project, has ceased operations after less than five years, The National reports. 

🛢️ Making Hay: A huge jet fuel refinery in Nigeria owned by Aliko Dangote, Africa’s richest person, has become a vital source for Europe amid Gulf oil disruptions, Bloomberg reports.

⛏️ Digging Deep: Egypt is introducing new incentives to boost drilling and increase domestic oil and gas production.

🤝 China Deal: The UAE Ministry of Investment signed an agreement with China’s Jereh Group to develop a clean energy and industrial platform.

🚕 Driver Slump: Chauffeurs working for Addison Lee’s executive service in the U.K. say their earnings have collapsed since the Iran war began, amid a slump in Emirates business class passengers, The Financial Times reports.

UAE President Sheikh Mohamed bin Zayed received the credentials of newly appointed ambassadors to the UAE, including Isaac Ananias Moyo, Ambassador of Zimbabwe; Bolbongse Vangphaen, Ambassador of Thailand; and Zeng Jixin, Ambassador of China.

Oman’s Sultan Haitham bin Tariq met with Qatar’s Emir Sheikh Tamim bin Hamad in Muscat on Thursday to discuss developments in the region.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Deputy Prime Minister and Minister of Defense, visited a new air taxi station near Dubai International Airport on Thursday.

Mohamed bin Hadi Al Hussaini, UAE Minister of State for Financial Affairs, met with Scott Bessent, U.S. Secretary of the Treasury, to discuss prospects for strengthening strategic cooperation, in the presence of Khaled Mohamed Balama, Governor of the Central Bank of the UAE.

French President Emannuel Macron and British Prime Minister Keir Starmer will hold a meeting with international leaders in Paris to push plans to reopen the Strait of Hormuz.

Naguib Sawiris, the Egyptian billionaire Chairman of Ora Developers, told The National he expects the UAE property market to bounce back strongly and “continue booming,” as he announced an $8.2 billion expansion of a “mini city” project between Abu Dhabi and Dubai.

Fatih Birol, Executive Director of the International Energy Agency, said it could take up to two years to recover a significant share of oil and gas production disrupted by the Iran war.

Mohammed Aljadaan, Saudi Arabia’s Finance Minister, said on Thursday at the IMF’s spring meetings in Washington, D.C. that if the conflict ceased today, it would still take “weeks if not months” for Gulf output of energy, fertilisers and other industrial inputs to recover.  

🎨 Art Award: Abu Dhabi-born Emirati artist Farah Al Qasimi has been named among the 33 medallists in Art Basel Awards’ Emerging Artist category for 2026. One of the UAE’s most internationally renowned creative talents, Al Qasimi is also among the six artists selected for the National Pavilion UAE’s 2026 Venice Biennale exhibition, Washwasha, The National reports.

April 20-22, Abu Dhabi. Abu Dhabi Global Entrepreneurship Festival 2026. Bringing entrepreneurs, investors and experts to support innovation, partnerships and economic diversification. Abu Dhabi Energy Centre. 

April 20-22, Riyadh. Future Aviation Forum. Exploring the future of air transport, sustainability, advanced air mobility, and artificial intelligence. King Abdulaziz International Conference Center.

April 23, Dubai. Mawarid FinTech Summit. The event brings together industry leaders, innovators, regulators, and investors shaping the future financial technology across the MENA region. Grand Hyatt Dubai Conference & Exhibition Centre.

April 27-28, Riyadh. Start Smart Saudi. The forum seeks to gather leading investors and ambitious entrepreneurs seeking to fuel the next stage of their startup growth. The Garage.

April 28-May1, Dubai. World Token Summit. The event brings together regulators, founders, fund managers, and architects of the on-chain economy. Zaabel One.

May 4-7, Abu Dhabi. Make It In The Emirates. The UAE’s industrial promotion board celebrates its fifth anniversary. ADNEC.

May 11-13, Abu Dhabi. Ai Everything. A one-day summit combined with a two-day expo explores how AI and humans can work together. ADNEC.

May 12-14, Dubai. Airport Show & Global Airport Leaders Forum. Bringing together top airport suppliers, aviation leaders, and thousands of professionals. Dubai World Trade Center. 

May 19-21, Abu Dhabi. World Utilities Congress. Global policymakers, industry leaders and innovators discuss transforming the power, water and utilities sector into resilient, low‑carbon systems ADNEC. 

May 19-21, Damascus. Big5 Construct Syria. The inaugural edition of the platform for reconstruction and development. Syria Expo Center.

May 19-21, Riyadh. Middle East Museums & Heritage Expo. Saudi Arabia’s first dedicated museum, heritage and cultural development trade show. Riyadh Front Exhibition & Convention Center.

May 8-24, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments, game launches and free activities citywide, including GameExpo 2026. Dubai World Trade Center. 

June 17-19, Rome: FII Priority Europe: Saudi Arabia’s Future Investment Initiative holds a conference focusing on European business links with the Middle East. Cavalieri, Waldorf Astoria Hotel.

JORDAN RAIL

Jordan and the UAE signed a $2.3 billion agreement to develop a rail project connecting the country’s phosphate and potash mines to the port of Aqaba. L’imad Holding, the new sovereign wealth fund overseen by Abu Dhabi’s Crown Prince Khaled bin Mohamed, will partner with multiple Jordanian entities to build and operate the 360-kilometer (225-mile) railway, with construction to begin in 2027. Jordan’s Transport Minister Nedal Katamine said it was the country’s largest transport project in decades and one of the biggest in the region. The deal  highlights L’imad’s growing role in Abu Dhabi’s dealmaking, Bloomberg reports.

QUIET BORROWING

Gulf states have raised nearly $10 billion through private bond sales in April, marking their first international borrowing since the Iran war disrupted regional economies. Abu Dhabi issued $4.5 billion, Qatar $3 billion and Kuwait $2 billion in dollar-denominated bonds via private placements rather than public markets, where borrowing conditions have become more volatile, The Financial Times reports. The fundraising comes as a tentative ceasefire with Iran opens a window to shore up finances following steep losses from reduced oil and gas exports and damage linked to the near shutdown of the Strait of Hormuz. Despite controlling more than $3.5 trillion in sovereign assets, the states are tapping debt markets to support spending plans after Qatar halted LNG exports and oil flows from Kuwait and the UAE declined sharply.

International Holding Co.: The Abu Dhabi-based conglomerate led by UAE National Security Advisor Sheikh Tahnoon bin Zayed has received regulatory approval for the acquisition of Pakistan’s First Women Bank. 

Mubadala: Dina Powell McCormick, President of Meta, said on Monday during her appearance at Semafor’s World Economy Summit in Washington, D.C. that she had recently spoken with Khaldoon Al Mubarak, Mubadala CEO and Managing Director, to discuss how the UAE’s investments in artificial intelligence and other technologies would support its economy amid the current conflict.

Mubadala: CFO Carlos Obeid reflects on the sovereign wealth fund’s financial evolution over the past 25 years in an interview with Mubadala’s in-house video series, The Exchange.

XRG: The global investment arm of the UAE’s ADNOC national oil company is looking for merger and acquisition opportunities in Europe, Bloomberg reports.

Saudi Electricity Co.: The state-owned utility formed a joint venture with Kraken Technologies to deploy AI-driven grid management technology.

EDGE: The UAE defense conglomerate and Spain’s Indra Group signed an agreement at LAAD Security 2026 in São Paulo to explore developing and producing next-generation radar systems in Brazil.

💵 Liquidity Help: Aldar Properties secured a five-year, $1.4 billion sustainability-linked revolving credit facility, boosting liquidity.

💰 FDI Friends: The UAE invested around $95 million between January and February of this year in Turkey, the state-owned Anadolu news agency reports.

💡 Chipping In: U.S. electronics giant Molex acquired Israeli optical chip startup Teramount for about $430 million, adding high-speed data-transfer technology used in next-generation AI infrastructure and data centers.

Flagging Funds: The sponsorship agreement between Fanatics and Saudi Arabia’s General Entertainment Authority for its Tom Brady-fronted flag football event is in peril following the relocation of the tournament from the kingdom to Los Angeles, Front Office Sports reports.

💰 Flexible Workplace: Dubai is easing compliance requirements, cutting paperwork and allowing greater remote work for financial firms as it tries to maintain its status as a hub for hedge funds amid the regional conflict, Bloomberg reports.

💼 New Arrival: Alternative investment manager Barings has opened a new office in Abu Dhabi’s ADGM free zone, as it pursues deeper relationships with sovereign funds, family offices and institutional investors across the Gulf. ​​ 

🌍 Global Reach: Qatar’s Estithmar Holding, which has interests ranging from construction and hotels to healthcare, outlined plans to expand operations in 10 countries, including Saudi Arabia, Iraq, Libya, the Maldives and Syria.

🇵🇭 New Bureau: Dubai International Chamber opened a new representative office in Manila to boost trade and investment ties between Dubai and the Philippines.

🍾 Spirits Disruption: French beverage producer Pernod Ricard expects up to a 4% annual sales decline due to disruption from the Middle East war.

Saudi Crown Prince Mohammed bin Salman met with Pakistan’s Prime Minister Shehbaz Sharif in Jeddah on Wednesday to discuss negotiations between the U.S. and Iran.

Qatar’s Emir Sheikh Tamim bin Hamad and U.S. President Donald Trump held a phone call on Wednesday.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, held a phone call with Mohammad Baqer Qalibaf, Speaker of the Parliament of Iran, on Wednesday to discuss de-escalation.

Sheikh Shakhboot bin Nahyan, UAE Minister of State, participated in the Third International Conference on Sudan, held in Berlin this week.

Matt Crocker quit as U.S. Soccer’s sporting director just months before the 2026 World Cup to take a senior role with Saudi Arabia’s football federation, highlighting the kingdom’s continued push to recruit global sports talent, ESPN reports.

Paolo Zampolli, U.S Special Representative for Global Partnerships, is profiled in The Financial Times as U.S. President Donald Trump’s longtime dealmaker, accustomed to blending power with money. 

Mohammed Al-Jadaan, Saudi Arabia’s Finance Minister, said at a meeting of the U.S. Chamber of Commerce in Washington, D.C. on Tuesday that the kingdom is pressing ahead with fiscal reforms and global economic engagement despite regional tensions.

Ali bin Ahmed Al Kuwari, Qatar’s Finance Minister, said on Wednesday that the latest oil price increases are just the “tip of the iceberg,” and that the full economic consequences of the Iran war are likely to hit globally by May or June 2026.

Reem Al Hashimy, the UAE Minister of State for International Cooperation, said at the Semafor World Economy conference in Washington, D.C. on Wednesday that the Strait of Hormuz should not be under anyone’s control, and reopening it as a free and open waterway is the UAE’s top priority in any security agreement between Iran and the U.S.

David Lynn was appointed CEO of inD, the joint venture between Informa and Dubai World Trade Centre. He previously was the President and CEO of ViacomCBS Networks International (now Paramount International).

Patrick Jany was appointed CFO of Borouge Group International. He was previously Executive Vice President and CFO of A.P. Moller-Maersk. 

🚙 Backseat Driver: Dubai is taking a novel approach to road safety with an appeal to road users to drive “as if their mother was in the car.” In a promotional film, Emirati personality Khaseibah uses a motherly tone to police a young driver as he navigates the roads, preventing him from taking risky decisions. The film launched by the Dubai Police and Road and Transport Authority is aimed at addressing serious road offenses, including tailgating, sudden lane changes and distracted driving.

April 20-22, Abu Dhabi. Abu Dhabi Global Entrepreneurship Festival 2026. Bringing entrepreneurs, investors and experts to support innovation, partnerships and economic diversification. Abu Dhabi Energy Centre. 

April 20-22, Riyadh. Future Aviation Forum. Exploring the future of air transport, sustainability, advanced air mobility, and artificial intelligence. King Abdulaziz International Conference Center.

April 23, Dubai. Mawarid FinTech Summit. The event brings together industry leaders, innovators, regulators, and investors shaping the future financial technology across the MENA region. Grand Hyatt Dubai Conference & Exhibition Centre.

April 28-May1, Dubai. World Token Summit. The event brings together regulators, founders, fund managers, and architects of the on-chain economy. Zaabel One.

May 4-7, Abu Dhabi. Make It In The Emirates. The UAE’s industrial promotion board celebrates its fifth anniversary. ADNEC.

May 11-13, Abu Dhabi. Ai Everything. A one-day summit combined with a two-day expo explores how AI and humans can work together. ADNEC.

May 12-14, Dubai. Airport Show & Global Airport Leaders Forum. Bringing together top airport suppliers, aviation leaders, and thousands of professionals. Dubai World Trade Center. 

May 19-21, Abu Dhabi. World Utilities Congress. Global policymakers, industry leaders and innovators discuss transforming the power, water and utilities sector into resilient, low‑carbon systems ADNEC. 

May 19-21, Damascus. Big5 Construct Syria. The inaugural edition of the platform for reconstruction and development. Syria Expo Center.

May 19-21, Riyadh. Middle East Museums & Heritage Expo. Saudi Arabia’s first dedicated museum, heritage and cultural development trade show. Riyadh Front Exhibition & Convention Center.

May 8-24, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments, game launches and free activities citywide, including GameExpo 2026. Dubai World Trade Center. 

June 17-19, Rome: FII Priority Europe: Saudi Arabia’s Future Investment Initiative holds a conference focusing on European business links with the Middle East. Cavalieri, Waldorf Astoria Hotel.

CLOUDY FORECAST

The International Monetary Fund slashed its economic forecast for the Middle East and North Africa and said it expects lower global growth, blaming the Iran war for disrupting trade and energy markets. The region’s GDP growth forecast has been cut to 1.1.% in the IMF’s latest World Economic Outlook, 2.8 percentage points lower than its January projection for this year. Saudi Arabia is faring better than other countries, while the economies of Iran, Bahrain, Iraq, Kuwait and Qatar are now expected to ​contract, Reuters reports. Growth is expected to rebound to 4.8% by 2027, presuming energy production and transportation return to normal over the next few months. “MENA countries are facing unprecedented challenges, exceptional uncertainty in their outlook,” IMF Deputy Managing Director Bo Li said during a panel discussion in Washington.

EV SHUFFLE

Electric vehicle maker Lucid named a new CEO as Saudi Arabia’s Public Investment Fund and Uber committed another $750 million to support the struggling Silicon Valley-based company. Silvio Napoli, the former head of Swiss elevator manufacturer Schindler Holding, was appointed chief of Lucid, replacing Marc Winterhoff, who has served as interim CEO since February 2025. Winterhoff returns to the role of Chief Operating Officer. In other automotive developments, sales of Nissan and Stellantis vehicles in the Middle East have dropped by roughly 40-60% – about half of prewar levels – primarily due to weakened demand resulting from the conflict, The Financial Times reports. 

L’imad Holding: Abu Dhabi-based shipping conglomerate AD Ports, which is owned by the sovereign wealth fund, signed an agreement with Romania’s National Company Maritime Ports Administration, the administrator of the Port of Constanța, the Black Sea’s largest port, to explore investments.

Oman Investment Authority: Oman’s OQ Exploration and Production, part of OIA, said it plans to acquire Amsterdam-based Mitsui E&P Middle East B.V.’s 35% stake in a site designated Block 27 for $75 million.

Norwegian Government Pension Fund Global: Norway is moving to lift a ban on its $2.2 trillion sovereign wealth fund investing in Syrian government bonds, while adding Iran to its exclusion list in a largely symbolic shift, Reuters reports.

💰 Consumer VC: Homegrown Ventures, a UAE-based company, closed its debut $22.8 million fund to invest in early-stage consumer brands across different sectors.

👜 Boutique Blues: Gucci reported an 8% drop in first-quarter sales, which it attributed in part to the Middle East conflict’s impact on tourism and demand for luxury goods. Hermes sales growth slumped 5.6%.

💶 Asset Departure: Kuwaiti National Investment Holding, a subsidiary of National Real Estate Co., will sell its entire 50% stake in Malta’s Mediterranean Investments Holding to two buyers for $87 million.

📚 Regional Expansion: Bain Capital plans to open an Abu Dhabi office with an initial team of 5-10 people in ADGM, marking one of the first regional expansions by a major financial firm since the war.

💸 Market Freeze: Global companies, including London-based Loveholidays and Turkish Airlines, are delaying IPOs and cutting dividends as the Middle East conflict rattles markets, disrupts supply chains and weakens investor confidence, Reuters reports.

🟤 Metal Rebound: Copper rebounded to erase war-driven losses, rising on renewed risk appetite fueled by ceasefire hopes, U.S.-Iran peace talks and improving Chinese demand.

✈️ Missed Opportunity: Lufthansa has grounded hundreds of flights and limited operations due to ongoing crew strikes just as it was hoping to take advantage of increased demand caused by disruptions to Gulf airlines amid the Iran war, The Financial Times reports.

UAE President Sheikh Mohamed bin Zayed met on Tuesday with António Costa, President of the European Council, who is visiting the UAE as part of a regional tour.

Qatar’s Emir Sheikh Tamim bin Hamad held a phone call with Oman’s Sultan Haitham bin Tariq on Tuesday to discuss regional events.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, met with Jamshid Khodjaev, Deputy Prime Minister of Uzbekistan, and his accompanying delegation at Qasr Al Watan in Abu Dhabi on Tuesday.

Fatih Birol, the head of the International Energy Agency, said during spring meetings at the Atlantic Council in Washington that the world is becoming a dangerous place, noting that more than 80 facilities have been damaged, including oilfields, refineries and terminals.

Ali bin Ahmed Al Kuwari, Qatar’s Minister of Finance, held a series of bilateral meetings with a number of officials from global financial institutions and banks in New York City during his current visit to the U.S.

Hadi Badri, CEO of Dubai Economic Development Corp., said during the Semafor World Economy Summit in Washington that most people have stayed in Dubai “despite what some tabloids overseas have been saying.”

🏛️ Icon Overhaul: Dubai’s Burj Al Arab will close for 18 months to carry out its first major restoration in 25 years, aiming to modernize interiors while preserving the hotel’s iconic sail  design and “seven-star” identity. Led by French interior architect Tristan Auer, the project will focus on subtle upgrades, retaining most of the décor and craftsmanship to maintain the building’s original character.

April 20-22, Abu Dhabi. Abu Dhabi Global Entrepreneurship Festival 2026. Bringing entrepreneurs, investors and experts to support innovation, partnerships and economic diversification. Abu Dhabi Energy Centre. 

April 20-22, Riyadh. Future Aviation Forum. Exploring the future of air transport, sustainability, advanced air mobility, and artificial intelligence. King Abdulaziz International Conference Center.

May 4-7, Abu Dhabi. Make It In The Emirates. The UAE’s industrial promotion board celebrates its fifth anniversary. ADNEC.

May 11-13, Abu Dhabi. Ai Everything. A one day summit combined with a two-day expo explores how AI and humans can work together. ADNEC.

May 12-14, Dubai. Airport Show & Global Airport Leaders Forum. Bringing together top airport suppliers, aviation leaders, and thousands of professionals. Dubai World Trade Center. 

May 19-21, Abu Dhabi. World Utilities Congress. Global policymakers, industry leaders and innovators discuss transforming the power, water and utilities sector into resilient, low‑carbon systems ADNEC. 

May 19-21, Damascus. Big5 Construct Syria. The inaugural edition of the platform for reconstruction and development. Syria Expo Center.

May 19-21, Riyadh. Middle East Museums & Heritage Expo. Saudi Arabia’s first dedicated museums, heritage and cultural development trade show. Riyadh Front Exhibition & Convention Center.

May 8-24, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments, game launches and free activities citywide, including GameExpo 2026. Dubai World Trade Center. 

PLUNGING PRODUCTION

As prices hover around the $100-a-barrel mark, OPEC is reporting a steep decline in oil production attributed to the Iran war, which has blocked sea routes and damaged infrastructure. Looking further ahead, the International Energy Agency said oil demand will decline this year for the first time since the 2020 pandemic as the surge in prices restricts growth.  “The Iran war has thoroughly upended the global outlook for oil consumption,” the IEA says in its monthly report. “Demand destruction will spread as scarcity and higher prices persist.” The paralysis of shipping through the Strait of Hormuz has also sent aluminum prices soaring to a four-year high, stoked by the stalling of U.S. peace talks with Iran that have increased concerns over supply chains.

REINVENTING TOURISM

UAE tourism needs to “reinvent itself” to recover from the impact of regional war, officials and hospitality players told a special meeting convened to address the industry in crisis. From the dazzling Dubai Gold Souk and Burj Khalifa to Abu Dhabi’s cluster of brand new museums, the normally bustling sites that are the engine of the country’s tourism economy have fallen quiet since the start of the war. At a newly formed Tourism Majlis, organized by the Ministry of Economy and Tourism, leaders gathered to confront a sharp drop in visitors following the Iran crisis and share ideas to shape a coordinated recovery plan. Chaired by Ras Al Khaimah Ruler Sheikh Saud bin Saqr Al Qasimi, the discussion stressed that recovery would require a clear, unified strategy rather than quick fixes, with a focus on collaboration across all seven emirates.

Mubadala: Brazilian state-run oil firm Petrobras is in initial negotiations with Abu Dhabi’s Mubadala to repurchase the Mataripe refinery in Brazil, Reuters reports. 

Public Investment Fund: flyadeal, Saudi Arabia’s low-cost airline owned by the PIF, is launching scheduled flights between Jeddah and Dubai and restoring its route between Riyadh and Dubai that was suspended during the war with Iran.

Qatar Investment Authority: Golden Goose, the luxury Italian sneaker brand which counts the QIA among its shareholders, is marketing a $1 billion bond sale to prepare for its acquisition by Chinese private equity firm HSG.

Qatar Investment Authority: Al Rayan Bank, whose shareholders include QIA, intends to increase its capital to $67.6 million in its U.K. subsidiary.

🤖 AI Bet: Golden Gate Ventures’ MENA fund invested an undisclosed amount in Invisible Technologies, a San Francisco-based AI company.

🌍 Mineral Push: Botswana signed agreements with Oman to explore energy and mineral resources during a visit to the sultanate this week by Botswana’s President Duma Boko.

🚇 Metro Branding: The city of Riyadh launched bids for naming rights to five metro stations, opening a new revenue stream as the kingdom expands its public transport network.

💵 Debt Relief: The Central Bank of Bahrain will defer loans and provide liquidity of up to $18.5 billion to support Bahrain’s economy and the financial sector.

🏢 Swiss Outpost: Finreon, a Swiss quantitative asset manager, expanded to the Middle East by opening a representative office in the Dubai International Financial Centre.

💲 Funding Terrorism: French cement company Lafarge was fined $1.2 million by a court in Paris, and former CEO Bruno Lafont was sentenced to six years in prison for paying ISIS and other armed groups protection money in Syria.

📺 Standing Strong: More than 1,000 film and TV figures, including Joaquin Phoenix, Ben Stiller, and Kristen Stewart, signed an open letter opposing Paramount Skydance’s Gulf-backed planned acquisition of Warner Bros.

UAE President Sheikh Mohamed bin Zayed met with King Hamad bin Isa Al Khalifa of Bahrain during his trip to Manama on Monday.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, met in Beijing with China’s President Xi Jinping. The meeting was also attended by Sheikh Zayed bin Mohamed, the son of UAE President Sheikh Mohamed bin Zayed; Khaldoon Al Mubarak, Special Envoy of the UAE President to China and Managing Director and Group CEO of Mubadala; Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology and ADNOC Group CEO; Mohamed Hassan Alsuwaidi, Minister of Investment; Dr. Thani Al Zeyoudi, Minister of Foreign Trade; and Lana Nusseibeh, Minister of State at the Ministry of Foreign Affairs.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, met with Ayman Safadi, Jordan’s Deputy Prime Minister and Minister of Foreign Affairs and Expatriates, on Monday in Abu Dhabi to discuss regional developments and security challenges.

Khaldoon Al Mubarak, Special Envoy of the UAE President to China and Managing Director and Group CEO of Mubadala, held a meeting on Monday in Beijing with Wang Yi, China’s Minister of Foreign Affairs.

Abdulla bin Touq, UAE Minister of Economy and Tourism, met with an Uzbek delegation including Jamshid Khodjaev, Deputy Prime Minister and Minister of Investment and Foreign Trade, and Laziz Kudratov, Minister of Investment, Industry and Trade, on Monday.

Khaled Darwish, HSBC’s Head of Debt Capital Markets for Central and Eastern Europe, the Middle East and Africa, will join Bank of America as Head of Middle East and North Africa Corporate Banking in Dubai, Bloomberg reports.

🍽️ Quiet Night Out: Restaurants and chefs across the UAE are adapting to a new reality as regional conflict and a lack of tourists reshapes the hospitality industry. Customers are trading in flashy high-end experiences for quieter, neighborhood dinners, The National reports. As a result, venues are making subtle changes to cater to more intimate gatherings, from introducing warmer lighting and softer music to slowing down the pace of the food service. “It’s less about volume and more about intention,” Sven Mostegl, founder of Sven The Baker’s Kitchen in Dubai, told the newspaper. “There’s a quieter, more grounded energy in the room.”

April 20-22, Abu Dhabi. Abu Dhabi Global Entrepreneurship Festival 2026. Bringing entrepreneurs, investors and experts to support innovation, partnerships and economic diversification. Abu Dhabi Energy Centre. 

April 20-22, Riyadh. Future Aviation Forum. Exploring the future of air transport, sustainability, advanced air mobility, and artificial intelligence. King Abdulaziz International Conference Center.

May 4-7, Abu Dhabi. Make It In The Emirates. The UAE’s industrial promotion board celebrates its fifth anniversary. ADNEC.

May 11-13, Abu Dhabi. Ai Everything. A one day summit combined with a two-day expo explores how AI and humans can work together. ADNEC.

May 12-14, Dubai. Airport Show & Global Airport Leaders Forum. Bringing together top airport suppliers, aviation leaders, and thousands of professionals. Dubai World Trade Center. 

May 19-21, Abu Dhabi. World Utilities Congress. Global policymakers, industry leaders and innovators discuss transforming the power, water and utilities sector into resilient, low‑carbon systems ADNEC. 

May 19-21, Damascus. Big5 Construct Syria. The inaugural edition of the platform for reconstruction and development. Syria Expo Center.

May 19-21, Riyadh. Middle East Museums & Heritage Expo. Saudi Arabia’s first dedicated museums, heritage and cultural development trade show. Riyadh Front Exhibition & Convention Center.

May 8-24, Dubai. Dubai Esports & Games Festival. More than two weeks of events, tournaments, game launches and free activities citywide, including GameExpo 2026. Dubai World Trade Center.