FORMULA STUN

Formula One has canceled the Bahrain Grand Prix and Saudi Arabian Grand Prix scheduled for April because of the Iran conflict. The decision removes two key Middle East races from the early part of the 2026 season. Officials said concern for the safety of teams, drivers and fans made it impossible to proceed. Organizers are now assessing whether the races can be rescheduled later in the year if conditions improve. “Bahrain and Saudi Arabia are incredibly important to the ecosystem of our racing season ​and I look forward to returning to ​both as soon as circumstances allow.” FIA president Mohammed Ben Sulayem said.

WATER SECURITY

Security concerns are rising around desalination plants across the Middle East after an Iranian drone strike damaged a facility in Bahrain, and Iran saying a U.S. attack disrupted water supplies to villages near Iran’s Qeshm Island. Researchers at King Abdullah University of Science and Technology warn that desalination infrastructure – which supplies much of the Gulf’s drinking water – could become increasingly exposed during regional conflicts, Arab News reports. The Middle East and North Africa account for more than 53% of global desalination capacity, according to the World Bank, making the plants essential to daily life in one of the world’s driest regions. The incidents are raising fresh questions about how governments and utilities can protect water infrastructure during wartime

Public Investment Fund: ACWA Power, the renewable energy company owned by the Saudi sovereign wealth fund, raised its stake in the Shuaibah Water and Electricity Co. to 62% after buying a 32% holding held by the PIF’s Badeel water and electricity company, for $225 million.

TAQA: The Abu Dhabi National Energy Co. elected a new board, led by its new Chairman, Jassem Al Zaabi, who is also Chairman of the Abu Dhabi Department of Finance; and the new Vice Chairman, Dr. Sultan Al Jaber, who is the UAE’s Minister of Industry and Advanced Technology, as well as Group CEO of ADNOC.

DP World: The international port operator, majority-owned by the government of Dubai, set its 2026 capital expenditure budget at about $3 billion, focusing on port expansion, logistics infrastructure and digital systems.

Aramco: Saudi Aramco denied reports that it is in talks with Ukrainian companies to buy interceptor drones to defend its oilfields, Reuters reports.

💰Bond Demand: The UAE raised $300 million in its first dirham-denominated treasury bond auction since the start of the Iran conflict, for bonds maturing in Sept 2027 and Jan 2031.

💵Raising Funds: Red Sea International’s board will increase capital by $74.6 million to fund expansion, boost working capital, strengthen finances, and support future projects, with Alinma Capital as financial advisor.

🏭Industrial Facility: Construction of a $373 million dry gas-based bio-protein plant in Jubail Industrial City II by Saudi Industrial Investment Group will start in the second half of 2026.

🚀Shaken Haven: Dubai’s reputation as a safe refuge in the Middle East to do business and have fun has suffered a blow from the missile barrages coming from Iran, The Atlantic writes. “Iran does not like Dubai, because Dubai shows that doing the opposite of what Iran does yields good results,” the magazine says.

🖇️ Metal Halt: Aluminium Bahrain has begun a phased shutdown of three production linesto conserve raw materials and maintain operations amid war-related shipping disruptions.

🏨Hospitality First: Dubai hotels are being urged to keep prices stable despite a sharp drop in occupancy out of concern for the city’s premium image, Arabian Gulf Business Insights reports. 

🔥Punching Bags: The key UAE port of Fujairah, the country’s only export route outside the Strait of Hormuz, was hit by a drone strike, halting oil loadings as damage was assessed following a previous weekend attack, Bloomberg reports.

UAE President Sheikh Mohamed bin Zayed held a phone call on Sunday with Saudi Crown Prince Mohammed bin Salman, during which they discussed the war with Iran. Sheikh Mohamed also spoke with Spain’s King Felipe VI.

Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, met with Ethiopian Prime Minister Abiy Ahmed Ali on Saturday in Dubai.

Egypt’s President Abdel Fattah El-Sisi said his country has lost about $10 billion from global and regional crises affecting the Suez Canal since 2020.

Ukraine President Volodymyr Zelenskiy sent three teams to the Middle East to demonstrate Gulf states should buy Ukraine-made drone defenses.

Mostafa Madbouly, Egypt’s Prime Minister, said on Sunday that the government is implementing “flexible scenarios” to ensure the sustainability of supplies.”

Adrian Hamilton-Manns, CEO of Oman’s SalamAir, said that its operations within the region have been affected, while other networks, including those of the Indian subcontinent and Africa, continue to be operated normally.

Ahmad Bin Shafar, CEO of Emirates Central Cooling Systems, said the company’s future growth remains “materially de-risked” through its total contracted capacity.

Ashraf Bahaa, Chairman of Egypt’s South Valley Egyptian Petroleum, said the company plans to drill five exploration wells at an estimated value of $33 million.

🏺 Recovered Relics: Ancient artifacts looted from Iraq’s Duhok region after the 1991 Gulf War were traced to a private collection in Britain and returned to Baghdad following a joint investigation. Experts from the British Museum and officials from the Iraqi State Board of Antiquities and Heritage helped identify the objects and confirm they had been taken illegally during the conflict, The National reports. British authorities then arranged for the artifacts to be repatriated to Iraq as part of ongoing efforts to recover cultural treasures removed during decades of war and smuggling.

March 23- 27, Houston, Texas. CERAWEEK. The annual event gathers global leaders to discuss energy transition, technology, and policy. Hilton Americas-Houston and George R. Brown Convention Center .

March 25-27: Miami Beach, Fla. FII PRIORITY Miami 2026. Saudi Arabia’s Future Investment Initiative holds annual U.S. conference. Faena Hotel.

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC. 

April 6-13, Dubai. Quantum Innovation Summit. Part of Global Quantum Week, focusing on quantum technology and applications. Grand Hyatt.

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental. 

April 7-9, Dubai. Middle East Energy. Discover what’s new in energy. Dubai World Trade Centre. 

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 11-20, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC.

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 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 21-23, Dubai. UITP Summit 2026. A high-level event for the public transport sector looking at the future of urban mobility. Dubai World Trade Centre

April 24-26, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles.

HELIUM SQUEEZE

Helium prices are surging after the Iran conflict disrupted Qatar’s natural-gas processing, exposing the fragility of a market that supplies industries from semiconductor manufacturing to medical imaging. Qatar produces roughly one-third of the world’s helium, and the shutdown of some gas facilities and shipping routes has sharply reduced supply. Spot helium prices have roughly doubled as buyers scramble to secure shipments, Reuters reports. The disruption highlights how the war’s strikes on Gulf energy infrastructure and transport routes are rippling into global technology and industrial supply chains. Qatari Energy Minister Saad al-Kaabi told the Financial Times last week that it would take “weeks to months” for deliveries to return ​to ​normal.

RIYADH SIDELINED

The Fanatics Flag Football Classic, a warm-up for the sport’s debut at the U.S.-hosted 2028 Summer Olympics, has been moved from Riyadh to BMO Stadium in Los Angeles because of security concerns tied to the Iran conflict. The game had been scheduled for March 21 at Riyadh’s Kingdom Arena as part of Saudi Arabia’s effort to host high-profile international sports competitions. Sponsored by sports merchandise company Fanatics, the game will feature Tom Brady and other NFL veterans and be broadcast by Fox Sports. It will include three 12-player teams, with Team USA’s reigning flag football world championship ​team facing two teams composed of current ​and former NFL stars, as well as athletes outside of football. 

Saudi Aramco: The world’s biggest oil company is in talks with Ukrainian firms SkyFall and Wild Hornets to buy interceptor drones to defend its oil fields from potential Iranian drone attacks, The Wall Street Journal reports.

Abu Dhabi Investment Authority: A unit of ADIA made an investment in Hong Kong’s Dignari Capital Partners, committing capital to its Asia-Pacific developed markets private credit fund focused on real estate-linked financing.

Qatar Investment Authority and ADIA: SoftBank-backed payments firm PayPay jumped nearly 20% on Thursday after its $880 million IPO, with ADIA and QIA among the company’s backers.

🏌🏽Golf Clubs: Dubai-based AKCEL Holding signed a $272 million deal with XRange Golf Entertainment to develop a network of technology-driven golf entertainment venues across the UAE.

🍕 Pizza Bid: Qatar-based Irth Capital offered about $47 a share to acquire Papa John’s in a deal that would take the U.S. pizza chain private at a value of $1.5 billion, Reuters reports.

🛢️ Libya Returns: TotalEnergies has restarted production at Libya’s Mabruk oil field for the first time in more than a decade after completing redevelopment work on the long-idle facility.

💶 Gulf Finance: A unit of Saudi Arabia’s Islamic Development Bank agreed to arrange up to $900 million in financing for Mauritania Saudi Mining and Steel Co.

💻 Not Bad: Wonderful, an Israeli startup that helps businesses set up AI agent platforms, raised $150 million in a Series B funding round, led by Insight Partners.

🏭 Aluminum Cutback: Norwegian producer Norsk Hydro will reduce output at its Qatalum smelter in Qatar rather than fully shutting operations as supply disruptions ripple through the Gulf metals industry, The Wall Street Journal reports.

📦 Trade Corridors: Saudi Arabia is opening logistics corridors to receive containers and goods from neighboring Gulf countries as authorities try to keep regional trade flowing despite shipping disruptions.

🏗️ Project Pause: UAE developers may scale back new real-estate projects amid regional uncertainty, though Fitch Ratings says the sector faces no immediate financial stability risks.

💰 Fighting Back: Kuwait urged the public to report anyone involved in unlicensed financial activities as part of a campaign to combat money laundering amid  the Iran conflict.

🗓️ Changing Calendar: AIM Congress, the flagship investment conference of the AIM Global Foundation, is the latest major business event pushing its dates from April to later this year. Crypto event Token2049  has been postponed until next year.

UAE Sheikh Mohamed bin Zayed received a phone call on Thursday from Syrian President Ahmed Al-Sharaa to discuss the impact of the Iran conflict..

Sheikh Abdullah bin Zayed, the UAE Minister of Foreign Affairs, met with Dr. Constantinos Kombos, the Minister of Foreign Affairs of Cyprus, on Thursday in Abu Dhabi.

Sheikh Mohammed bin Abdulrahman, Qatar’s Prime Minister and Minister of Foreign Affairs, received phone calls on Thursday from Canadian Foreign Minister Anita Anand and Spanish Foreign MinisterJose Manuel Alvarez.

Mishal Kanoo, Chairman of Dubai-headquartered Kanoo Group, said the UAE’s real estate boom is likely to slow down because of the war. “Honestly, the market had seriously overheated,” he told Arabian Gulf Business Insight. “If prices come down to something more reasonable, that’s not a bad thing.” 

Antoine Crombez was appointed Chairman of Airport International Group, the Jordanian operator of Queen Alia International Airport.

Eng. Ahmed Al Shamsi was appointed Group CEO of Trojan Construction; one of the largest construction groups in the Gulf region.

🖼️ Art Anxiety: French officials are raising concerns about the safety of artworks loaned to the Louvre Abu Dhabi amid the missile barrage from Iran, including masterpieces by artists such as Rembrandt and Leonardo da Vinci. The museum’s collection includes works such as La Belle Ferronnière, attributed to Leonardo, and other major paintings loaned from French institutions under the 30-year partnership that created the Abu Dhabi branch of the Louvre, Agence France-Presse reports.

March 25-27: Miami Beach, Fla. FII PRIORITY Miami 2026. Saudi Arabia’s Future Investment Initiative holds annual U.S. conference. Faena Hotel.

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC. 

April 6-13, Dubai. Quantum Innovation Summit. Part of Global Quantum Week, focusing on quantum technology and applications. Grand Hyatt.

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental. 

April 7-9, Dubai. Middle East Energy. Discover what’s new in energy. Dubai World Trade Centre. 

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 11-20, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC.

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 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 21-23, Dubai. UITP Summit 2026. A high-level event for the public transport sector looking at the future of urban mobility. Dubai World Trade Centre

April 24-26, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles.

STAY HOME

Citigroup and Goldman Sachs told employees to leave their offices in Dubai following reports that Iran is targeting financial firms. The banks instructed staff to work remotely and avoid their buildings in the Dubai International Financial Centre after intelligence warnings that Western financial institutions could be potential targets, Bloomberg reports. Standard Chartered also instructed employees to exit its offices in the district, according to people familiar with the matter. The moves highlight how global banks are tightening security and activating contingency plans across the Gulf as threats linked to the Iran conflict begin to affect major business hubs.

INSECURITY BENEFITS

The nuclear industry could benefit from the current bout of global energy insecurity as attacks on three more cargo ships in the Gulf push oil prices toward $100. Boris Schucht, CEO of uranium enrichment company Urenco, told the Financial Times that a “nuclear renaissance” is underway, with the company holding a record $21.3 billion order book for uranium and fuel products. “The supply crisis in the Middle East will refocus policymakers and industry on energy security and the need to have some form of baseload power in countries that is independent from supply threats,” Schucht said. Analysts say the crisis is prompting governments from Europe to Japan to accelerate nuclear plans, while European Commission President Ursula von der Leyen called the continent’s earlier retreat from nuclear power a “strategic mistake.”

Public Investment Fund: The Saudi sovereign wealth fund is backing a push by the kingdom to host a major ATP Masters 1000 tournament, prompting men’s tennis to consider buying back smaller events and reshaping its global calendar, The Athletic reports.

Humain: The new Saudi AI company, which is majority-owned by the PIF, appointed Abeer Al Qadi as Chief Marketing Officer.

ADNOC Gas: The UAE-owned natural gas company selected Italy’s Tecnimont as the contractor to perform engineering, procurement and construction work for its $4 billion Ruwais NGL Train 5 project in Abu Dhabi, MEED reports.

Mubadala: Austria’s Laura Privatstiftung foundation, co-founded by investor Rene Benko, filed for insolvency after a court ruled it owed $1.2 billion to the UAE sovereign wealth fund.

👌 Concrete Acquisition: German building materials company, Knauf International received approval to acquire a 63% stake in Saudi Arabia’s United Mining Industries for $135 million, with plans to buy the remaining shares later.

🏦 Back in Business: The Central Bank of Syria’s account with the U.S. Federal Reserve Bank of New York has been reactivated for the first time since 2011, Ambassador Tom Barrack, the U.S. Special Envoy to Syria, said in an X post.

🏗️ Property Fund: A subsidiary of Egypt’s Talaat Moustafa Group and CI Capital launched the $154 million Awaed Real Estate Investment Fund to finance income-generating commercial real estate.

🔗 Crypto Probe: The U.S. Justice Department is investigating whether Iran used Binance’s cryptocurrency exchange to evade economic sanctions, The Wall Street Journal reports.

✈️ Dutch Departure: KLM canceled all flights to Dubai through March 28 as the Iran conflict disrupts regional airspace, joining a growing list of international carriers scaling back Gulf operations.

💶 Profiteering Crackdown: The Abu Dhabi Registration Authority issued 38 fines to businesses and 416 warning a for unjustified wartime price increases.

🏨 Short Break: Construction at the $5 billion Wynn Al Marjan Island Resort  and casiono in Ras Al Khaimah has resumed after a brief war-related pause, with the project still targeted to open next year.

Ð Simple Transactions: Crypto exchange Bybit announced that UAE users can now buy Bitcoin, Ethereum and other digital currencies directly with dirhams.

UAE President Sheikh Mohamed bin Zayed held a phone call with Russian President Vladimir Putin on Wednesday in which they called for an immediate halt to escalation of the war.

U.S. President Donald Trump told World Cup organizers FIFA on Wednesday that Iran’s team is welcome to compete at this summer’s tournament, which will take place in the U.S.,Mexico and Canada.

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, held a phone call about the Iran conflict with Kaja Kallas, the EU High Representative for Foreign Affairs and Security Policy.

Japanese Prime Minister Sanae Takaichi said her country could help clear mines in the Strait of Hormuz after the war ends. 

Naguib Sawiris, the Egyptian billionaire who resides in Dubai, posted a message  from an Egyptian friend on X, who returned to the UAE during the war out of a “sense of loyalty to a place that has been good to me and my family.”

Shamis Ali Khalfan Al Dhaheri, Chairman of the Department of Community Development – Abu Dhabi, visited Athar+, a specialized hub dedicated to nurturing social entrepreneurship.

🎼 Presidential Lyrics: The UAE National Orchestra has launched a new orchestral work titled “Men, Truly Men,” with lyrics written by UAE President Sheikh Mohamed bin Zayed honoring the country’s armed forces. The piece, composed by Mohammed Al Ahmad, has been arranged in a new orchestral distribution by Ahmed Al Mouji with an ensemble of 70 musicians and 30 vocalists, the Khaleej Times reports.

March 25-27: Miami Beach, Fla. FII PRIORITY Miami 2026. Saudi Arabia’s Future Investment Initiative holds annual U.S. conference. Faena Hotel.

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC. 

April 6-13, Dubai. Quantum Innovation Summit. Part of Global Quantum Week, focusing on quantum technology and applications. Grand Hyatt.

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental. 

April 7-9, Dubai. Middle East Energy. Discover what’s new in energy. Dubai World Trade Centre. 

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 11-20, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC.

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 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 21-23, Dubai. UITP Summit 2026. A high-level event for the public transport sector looking at the future of urban mobility. Dubai World Trade Centre

April 24-26, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles.

April 29-30, Dubai. TOKEN2049 Dubai. A global gathering for the crypto ecosystem. Madinat Jumeirah.

FERTILIZER CRISIS

It’s not just oil. War with Iran is also making a range of chemicals critical for food production more expensive, including fertilizer components like urea and ammonia, Bloomberg reports.The Middle East is the source of some 45% of the global urea supplies, which cannot be stored for long periods. That means logistical disruptions such as the shutdown of the Strait of Hormuz can quickly tighten the market and send prices soaring. Western sanctions have curtailed imports of Russian fertilizers, while China has imposed export restrictions to protect domestic demand and support its farming sector, the news agency said. 

METROPOLITAN OASIS

Saudi Arabia’s ambition to build the world’s biggest urban park has received a $3.8 billion vote of confidence from foreign investors. The King Salman Park Foundation said on Tuesday that the new funds raise the total investment in the Riyadh mega-project to more than $5.3 billion. The development, launched in 2019 under Saudi Crown Prince Mohammed bin Salman’s Vision 2030 economic overhaul plan, calls for construction of offices, homes, hotels, schools and shopping centers within the 17 square-kilometer (6.6 square-mile) metropolitan oasis, along with the planting of more than 1 million trees. “Securing investment of this scale, supported by international capital and expertise, is an important milestone,” the foundation’s CEO George Tanasijevich said. 

Abu Dhabi Investment Authority:An ADIA unit is teaming up with Paris-based Ardian to launch a real estate secondaries platform that it says will focus on opportunities in the current market environment, characterized by a reset in valuations and increased demand for liquidity, Bloomberg reports.

ADNOC: The UAE state-owned energy firm shut down its Ruwais refinery in response to a fire at the facility following drone strikes. The facility was shut as a precautionary measure and all other operations at the complex were continuing normally, Reuters reports.

Oman Investment Authority: The sovereign wealth fund’s OQ Exploration & Production plans to spend about $800-900 million in 2026, $200 million less than last year, while buying new assets, CEO Mahmoud Al Hashmi said on Tuesday.

💵 Digital Uzbekistan: An Omani-led consortium is investing $130 million in Uzbekistan’s digital services ecosystem Uzum, with Oman Investment Bank serving as adviser.

🧑🏽‍🎨 Egyptian E-Commerce: U.S.-based adtech firm Converted acquired Mitcha, an Egyptian e-commerce platform.

 🎷 Backup Beat: Jazz, an Israeli startup that uses artificial intelligence to prevent data loss, raised $61 million in two funding rounds led by Glilot Capital Partners and Team8.

💰 Financial Targets: Banks and financial Institutions across the Middle East have become military targets for Iran, AP reports.

⛽ Gas Halt: Qatar’s Ras Laffan LNG plant, which supplies nearly 20% of global LNG, has halted exports for five days, the longest pause since 2008, after an Iranian drone attack.

🚢 No Can Do: The U.S. Navy has declined the shipping industry’s near-daily requests for military escorts through the Strait of Hormuz since the war with Iran began, citing the high risk of attacks, Reuters reports. 

🧳 Staying Home: The Middle East tourism sector is losing about $600 million a day due to flight cancellations, airspace closures and traveler concerns following regional strikes, The Financial Times reports.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, met with Zhai Jun, Special Envoy of the Chinese Government on the Middle East Issue.

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, held a phone call with U.S. Secretary of State Marco Rubio on Tuesday. Healso met with German Foreign Minister Johann Wadephul on Tuesday in Riyadh

Sheikh Hamdan bin Mohammed, the UAE Defense Minister and Crown Prince of Dubai, met with 300 heads of business in Dubai on Tuesday and declared that the UAE will “emerge stronger” from the present crisis.

Sameh El-Hefny, Egypt’s Minister of Civil Aviation, met on Tuesday with President Abdel Fattah Al-Sisi and Prime Minister Mostafa Madbouly to review plans for upgrading the country’s airports.

Ahmad Al-Hassan was appointed CEO and Managing Director for the GCC, overseeing ports and terminals, economic zones, digital technology and logistics.

Phil Lynagh was appointed CEO of Capital Group, a Saudi consulting firm for entertainment, sponsorships and communications.

🏇 Galloping Ahead: Organizers of the $30 million Dubai World Cup say the show will go on. Despite the shadow of war hanging over the region, preparations are continuing at Meydan Racecourse for the March 28 event – billed as the world’s richest day in horse racing. While leading contenders such as Forever Young and Banishing are present in Dubai, several stables in Europe and Japan are balking at the risk of shipping their horses to a warzone.

March 25-27: Miami Beach, Fla. FII PRIORITY Miami 2026. Saudi Arabia’s Future Investment Initiative holds annual U.S. conference. Faena Hotel.

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC. 

April 6-13, Dubai. Quantum Innovation Summit. Part of Global Quantum Week, focusing on quantum technology and applications. Grand Hyatt.

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental. 

April 7-9, Dubai. Middle East Energy. Discover what’s new in energy. Dubai World Trade Centre. 

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 11-20, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC.

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 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 21-23, Dubai. UITP Summit 2026. A high-level event for the public transport sector looking at the future of urban mobility. Dubai World Trade Centre

April 24-26, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles.

April 29-30, Dubai. TOKEN2049 Dubai. A global gathering for the crypto ecosystem. Madinat Jumeirah.

DUBAI BUFFER

Dubai has managed to keep supermarket shelves stocked despite the Iran conflict by relying on large inventories, diversified suppliers and rapid logistics adjustments. Supermarket chains such as Carrefour, operated in the UAE by Majid Al Futtaim, increased orders and drew on existing warehouse reserves while sourcing additional products from Europe and India to offset delays from usual Gulf routes, Bloomberg reports. Iran, the top supplier of fresh fruit and vegetables to the UAE, has banned exports of all food and agricultural products until further notice. UAE Economy Minister Abdulla Bin Touq Al Marri said at a briefing in Abu Dhabi last week the country has strategic reserves of essential items to cover four to six months and keep prices stable.

GULF BOTTLENECK

About 1,000 vessels carrying roughly 20,000 crew members are unable to pass through the Strait of Hormuz amid fears of Iranian attacks, cutting traffic by nearly 90%. The International Maritime Organization says many of the ships are idling near the narrow waterway, while 2,474 vessels, including 178 oil tankers, have remained in the Gulf waters since March 5. IMO Secretary-General Arsenio Dominguez expressed “grave concern” after recent attacks killed at least seven seafarers and called on operators to exercise “maximum caution.” Roughly 20% of the world’s oil is transported through the Strait of Hormuz.

Public Investment Fund: The Saudi sovereign wealth fund’s Roshn Group signed a $177 million deal with Miskan Real Estate to develop a property in Riyadh.

International Holding Co.: Judan Financial, a subsidiary of Abu Dhabi’s IHC, acquired a 50.1% stake in Alpha Wave Global, a U.S.-based investment management firm.

Mubadala: Mubadala Bio announced the launch of two cardiovascular medications, Ticagrelor and Tirofiban, produced through its UAE subsidiaries.

📈 Coming Home: Shareholders of Dubai Residential REIT approved a $150 million dividend for the second half of 2025, which followed its May 2025 listing on the Dubai Financial Market.

🏨 Touch Down: Dubai-based Azizi Developments has broken ground on a 5-star hotel in its Azizi Riviera community, kicking off a $20.4 billion investment plan that includes 10 hotels.

🧠 AI Jackpot: Vast Data, an Israeli startup focused on AI infrastructure that includes Nvidia, Goldman Sachs and General Atlantic among its investors, raised $1 billion in a private equity funding round that valued the company at $30 billion, Calcalist reports.

✈️ Airport Builders: Companies from China, the U.S., Turkey, France, and Singapore are among 89 firms that expressed interest in developing Saudi Arabia’s Prince Naif bin Abdulaziz International Airport as part of an initial bidding process.

🏡 Cooling Down: Moody’s Ratings expects Dubai’s real estate sales to decline slightly and price increases to slow, while noting that the market’s overall fundamentals remain stable.

💰 Deficit Dreams: The surge in oil prices amid the Iran war could help narrow Saudi Arabia’s budget deficit if exports by Saudi Aramco continue, Tim Callen, a former IMF mission chief to Saudi Arabia, tells Arabian Gulf Business Insight.

UAE President Sheikh Mohamed bin Zayed and Vice President Sheikh Mohammed bin Rashid, Ruler of Dubai, met for an iftar meal with other members of the government and issued a statement pledging their “determination and capability” to overcome the challenges of being attacked by Iran.

Emir of Qatar Sheikh ​Tamim bin Hamad al-Thani spoke by phone with Canadian Prime Minister Mark Carney on Monday to discuss efforts to keep the Iran conflict from widening.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, visited Cyprus on Monday, where he met with President Nikos Christodoulides and West German Foreign Minister Johann Wadephul.

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, held a phone call with  New Zealand’s Foreign Minister Winston Peters.

Jasem Al-Budaiwi, the GCC Secretary-General, met with China’s special envoy for the Middle East, Zhai Jun, at the General Secretariat headquarters in Riyadh on Sunday.

Rayan Qutub, Head of the Logistics Council at the Jeddah Chamber of Commerce, said in an interview with Al-Eqtisadiah that disruptions in the Strait of Hormuz could push global shipping lines to reroute operations to Saudi Arabia’s Red Sea ports, potentially adding about 250,000 containers and 70,000 vehicles per month.

Omar Alsebeyi, acting CEO at Etihad Rail Freight, argues in an opinion piece that the future of UAE logistics will depend on transporting products by train.

🗿 Sculpture City: Riyadh will install 25 large-scale sculptures across public spaces in the Saudi capital that were made during  the city’s seventh Tuwaiq Sculpture Symposium. The two-month event that wrapped up last week turned Riyadh’s Tahlia Street into an open-air studio where Saudi and international artists carved works from granite, reclaimed metal and other materials, Arab News reports. The sculptures will join Riyadh’s permanent public art collection as the city expands efforts to incorporate contemporary art into its urban spaces.

March 25-27: Miami Beach, Fla. FII PRIORITY Miami 2026. Saudi Arabia’s Future Investment Initiative holds annual U.S. conference. Faena Hotel.

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC. 

April 6-13, Dubai. Quantum Innovation Summit. Part of Global Quantum Week, focusing on quantum technology and applications. Grand Hyatt.

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental. 

April 7-9, Dubai. Middle East Energy. Discover what’s new in energy. Dubai World Trade Centre. 

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 11-20, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC.

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 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 21-23, Dubai. UITP Summit 2026. A high-level event for the public transport sector looking at the future of urban mobility. Dubai World Trade Centre

April 24-26, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles.

April 29-30, Dubai. TOKEN2049 Dubai. A global gathering for the crypto ecosystem. Madinat Jumeirah.

AUTO ACCESS

The trade pact negotiated last week by the UAE and Japan should strengthen Japanese auto exports by gradually removing tariffs. The agreement calls for the UAE to eliminate duties on many finished cars from Japan within seven years, easing costs for manufacturers such as Toyota, Nissan and Honda, Nippon reports. Japanese officials say the deal will help their companies compete more effectively with South Korean automakers, whose country already has a similar trade agreement with the UAE spaced over 10 years. The UAE has become Japan’s biggest trading partner in the Middle East and Africa, making the Gulf market increasingly important for Japanese car exports.

HORSE HAVEN

Qatar transported 75 competition horses and their grooms for refuge in Belgium after cancelation of the Longines Global Champions Tour of Doha due to the Iran conflict. Another 63 horses are scheduled to make the crossing from Qatar to the “Horse Inn” in Liege, Belgium, this week, Equnews reports. The Belgian facility is a hub for moving high-value sport horses for the Olympics and major tournaments, often in response to geopolitical crises. Meanwhile, leading European trainers and owners say they will delay decisions on sending horses to the $30 million Dubai World Cup meeting, watching security developments in the Middle East before committing runners to the March 28 event, TDN reports.

Saudi Aramco: The world’s largest oil company is offering ​some 4 ‌ million barrels of Saudi crude in ​rare tenders ​as the U.S.-Iran conflict ⁠disrupted exports from ​the Middle East, Reuters reports. 

ADNOC: The Abu Dhabi energy giant said it is adjusting offshore production while maintaining normal onshore operations and activating contingency protocols to ensure global delivery continuity.

Bapco Energies: Bahrain’s main energy company made a force majeure declaration, suspending operations that have been affected by the Iran conflict.

💰 Raising Capital: Dubai-based TruDoc Healthcare said it has raised $15 million in a Pre-Series B round backed by the Al Nahyan and Al-Ketbi families, and Pulsar Capital, to accelerate its goal of becoming the GCC’s largest virtual-first healthcare provider.

📊 Slowing Down: Startup funding in the MENA region fell to $327 million across 62 deals in February, down by 38% year-on-year.

💶 Dividend Due: Saudi investment company Savola Group proposed a dividend of $136 million for 2025 after reporting a 13% year-on-year increase in revenue.

✈️ Jet-Set Bet: Muscat Airport in Oman has asked private jet operators to avoid using the airport so it can prioritize government and commercial flights, as airspace closures disrupt regional travel and the airport becomes a key hub for European repatriation flights, The Financial Times reports.

🏗️ Risky Business: UAE homebuilders are likely to conserve cash after the Middle East geopolitical shock, with falling property viewings and heavy reliance on overseas demand creating risk despite near-term stability, Fitch Ratings said. 

⚡ Power Link: Tunisia’s share of the ELMED electricity interconnection project with Italy is estimated at $676 million and is expected to generate $83 million to $211 million annually, shared equally between all parties, according to Wael Chouchane of Tunisia’s Ministry of Industry.

UAE President Sheikh Mohamed bin Zayed held a phone call with U.S. President Donald Trump on Sunday to discuss the conflict with Iran and other regional issues. Sheikh Mohamed also held a call with Egypt’s President Abdel Fattah El-Sisi on Sunday.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, received a phone call from Sheikh Ahmad Al-Abdullah, Kuwait’s Prime Minister on Sunday.

Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai, met with Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, on Sunday. Also present were Sheikh Maktoum bin Mohammed, First Deputy Ruler of Dubai, UAE Minister of Finance, and Sheikh Ahmed bin Saeed Al Maktoum, CEO of Emirates Airline and Chairman of Dubai Airports.

Saad al-Kaabi, Qatar’s Energy Minister and CEO of QatarEnergy, told The Financial ‌Times that all Gulf energy producers would shut down exports within weeks if the Iran conflict continues ​and drives oil ⁠to $150 a barrel.

Khaled Mohamed Balama, Governor of the UAE Central Bank, said in a statement that the UAE’s banking systems had “very strong” levels of capital adequacy and liquidity.

Zubin Karkaria, CEO of VFS, the world’s largest visa processing company, told The Financial Times he is confident global migration will remain resilient despite tensions from the Iran conflict.

📚 Devouring Fiction: The Big Bad Wolf book fair has extended its Dubai run through March 15, offering more than 1 million English-language titles at discounts of up to 95%. Founded in Kuala Lumpur in 2009, Big Bad Wolf has grown into a touring book sale held in cities across Asia, Africa and the Middle East, The National reports. Outside the UAE, the Big Bad Wolf sale has also been staged in Saudi Arabia.

March 25-27: Miami Beach, Fla. FII PRIORITY Miami 2026. Saudi Arabia’s Future Investment Initiative holds annual U.S. conference. Faena Hotel.

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC. 

April 6-13, Dubai. Quantum Innovation Summit. Part of Global Quantum Week, focusing on quantum technology and applications. Grand Hyatt.

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental. 

April 7-9, Dubai. Middle East Energy. Discover what’s new in energy. Dubai World Trade Centre. 

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 11-20, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC.

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 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 21-23, Dubai. UITP Summit 2026. A high-level event for the public transport sector looking at the future of urban mobility. Dubai World Trade Centre

April 24-26, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles.

April 29-30, Dubai. TOKEN2049 Dubai. A global gathering for the crypto ecosystem. Madinat Jumeirah.

ESCAPE ROUTE

Muscat International Airport has turned into a key evacuation hub from the Iran conflict for wealthy Gulf travelers, with a surge in business-jet departures. Since Feb. 28, more than 90 private jets have departed from the normally quiet Omani airport, Bloomberg reports. Private jet broker LunaJets received over 800 evacuation requests in 24 hours amid regional panic, arranging two large group flights from Muscat. Meanwhile, Etihad Airways, Emirates, flydubai and Air Arabia have begun restoring parts of their networks with reduced schedules as regional airspace restrictions ease, warning passengers that some journeys may take longer due to rerouted flight paths.

STALLED CARS

Neolix, a Chinese autonomous delivery vehicle maker, has suspended daily operations of its driverless vehicles in Abu Dhabi. The move comes amid rising regional tensions after Iran launched missile attacks on Israel during the sixth day of the U.S.-Israel war with Iran, Chinese media outlet Yicai reported on Thursday. The suspension complies with UAE government requirements and aims to ensure the safety of personnel and assets. Other Chinese autonomous vehicle firms are also adjusting operations, with WeRide pausing its robotaxi fleet in Dubai and Pony.ai briefly halting on-road testing in Doha and Dubai before resuming in Doha on Monday.

International Holding Co.: Abu Dhabi-based investment firm 2PointZero Group, an IHC company, has acquired a 60% stake in Italy’s ISEM Packaging Group for $192 million.

Qatar Investment Authority: The QIA joined a $500 million financing round for California-based commercial space station developer Vast.

EDGE Group: The Abu Dhabi-owned defense conglomerate signed a strategic agreement to help strengthen Ecuador’s national border protection systems.

Public Investment Fund: Saudi Arabian Mining Company, known as Maaden, said its 2025 net profit more than doubled, and the revenue rose by 19%.

💵 Strategic Plan: Lesha Bank, formerly known as Qatar First Bank, said on Friday it will acquire Guernsey-based aircraft lessor Amedeo Air Four Plus for $1 billion.

🏠 Building Block: Saudi Arabia’s Dar Al Majed Real Estate Company awarded a $20.5 million turnkey contract to Emarna Contracting Co. to build eight residential buildings.

💰 Staking Fund: Bahrain-based Investcorp closed a fund that buys minority stakes in private investment firms, securing more than $1.25 billion in commitments.

🚁 Drone Defense: The U.S. and Qatar are in talks with Ukraine about acquiring interceptor drones designed to shoot down Iranian-made Shahed UAVs, with Ukrainian specialists traveling to Doha and Abu Dhabi to share battlefield experience countering the systems, Reuters reports.

🤝 Trade Pact: The UAE and Japan finalized an economic partnership to strengthen bilateral relations and boost trade, investment and cooperation in sectors like technology, logistics, cybersecurity, healthcare, and education.

🗞️ Headline News: German media group Axel Springer has bought London’s Telegraph Media Group in a 575 million-pound ($765 million) deal, scuppering a proposed acquisition by the Daily Mail.

🇦🇪 Solid Ground: Regional business councils say the inflow of companies and wealthy individuals into the UAE is unlikely to be affected in the long term, despite possible short-term disruptions from the war with Iran, Arabian Gulf Business Insights reports. 

👑 Gold Lining: Gold is being sold at a steep discount in Dubai as traders struggle to move bullion out of the precious metals trading hub, Bloomberg reports.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Minister of Defense and Deputy Prime Minister, held a phone call on Thursday with Prince Khalid bin Salman, Saudi Arabia’s Minister of Defense.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, held a phone call with Sheikh Sabah Khaled AlHamad, Crown Prince of Kuwait.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, met with Italian Prime Minister Giorgia Meloni on Thursday. He also met with Antonio Tajani, Italy’s Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation.

Egypt’s President Abdel Fattah El Sisi said on Thursday that Egypt is continuing to try to launch a mediation effort that’s both sincere and honest to stop the Iran war.

Kristalina Georgieva, Managing Director of the International Monetary Fund, warned on Thursday that the Iran conflict will have effects on energy prices, market sentiment, growth and inflation if it is prolonged.

George Prokopiou: The Greek billionaire’s Dynacom is making a fortune as one of the few legal tanker operators willing to sail to and from the Gulf, the Financial Times reports.

Hisham Okasha, CEO of Banque Misr, was named Chairman of Egyptian investment bank CI Capital, succeeding Ahmed Issa, Egypt’s former minister of tourism.

Dr. Maryam Ali Ficociello was appointed as CEO of the Saudi Red Sea Authority. 

Khalaf Al Habtoor, the Emirati billionaire and founding Chairman of the Al Habtoor Group, criticized the U.S. for drawing the Gulf region into conflict with Iran.

📚 Literary Gathering: Dubai’s weeklong “Ramadan Nights by the Creek” program wraps up on Saturday outside the Mohammed Bin Rashid Library, featuring poetry readings, live oud performances, and craft workshops. The festival also features a Ramadan market along the waterfront and a dedicated Food Street with cooking demonstrations of traditional Emirati cuisine.

March 25-27: Miami Beach, Fla. FII PRIORITY Miami 2026. Saudi Arabia’s Future Investment Initiative holds annual U.S. conference. Faena Hotel.

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC. 

April 6-13, Dubai. Quantum Innovation Summit. Part of Global Quantum Week, focusing on quantum technology and applications. Grand Hyatt.

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental. 

April 7-9, Dubai. Middle East Energy. Discover what’s new in energy. Dubai World Trade Centre. 

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 11-20, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC.

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 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 21-23, Dubai. UITP Summit 2026. A high-level event for the public transport sector looking at the future of urban mobility. Dubai World Trade Centre

April 24-26, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles.

April 29-30, Dubai. TOKEN2049 Dubai. A global gathering for the crypto ecosystem. Madinat Jumeirah.

TOKYO TRIP

The chief of Abu Dhabi’s national oil company has reassured Japanese customers and investors that construction at the company’s massive Ruwais LNG export facility is on track despite the Iran conflict, as Asian countries scramble to secure energy supplies. Dr. Sultan Al Jaber, ADNOC Managing Director and Group CEO, met with Japanese Prime Minister Sanae Takaichi and officials from the country’s trade ministry in Tokyo on Thursday amid growing concerns over energy flows to Asia after Qatar suspended LNG output. Japanese buyers, including Mitsui & Co. and Osaka Gas have stakes or long-term off-take agreements in the Ruwais project, while Yokohama, Japan-based JGC Corporation is part of a $5.5 billion joint venture carrying out the engineering, procurement and construction on the project. Al Jaber, who is also the UAE Minister of Industry and Advanced Technology, said energy security continued to be a priority, but “we will not be able to do much if there is any distortion in the Strait of Hormuz.” 

REAL TEST

The UAE’s years-long property rally faces its first major test after Iranian missile strikes unsettled investors, sending shares in developers such as Aldar Properties and Emaar Properties down about 5%. The sell-off comes as analysts had already warned that a pipeline of new housing supply expected by 2028 could outpace population growth, Reuters reports. Meanwhile, bond prices of major developers also dropped sharply, effectively shutting the debt market. With expatriates and overseas buyers underpinning much of the market’s demand, investors say the outlook will depend largely on whether foreign appetite for property in the UAE holds up.

Abu Dhabi Investment Authority: PayPay Corp., a subsidiary of SoftBank, has secured anchor investments from ADIA, the Qatar Investment Authority, and Visa, which together committed up to $220 million, Reuters reports. 

Mumtalakat: Aluminium Bahrain, owned by Bahrain’s sovereign wealth fund, declared force majeure to suspend some contracts after shipping disruptions tied to the Iran conflict halted exports.

Qatar Investment Authority: The sovereign wealth fund joined a $500 million funding round for Ayar Labs, a Nvidia-backed semiconductor firm developing technology that uses light instead of copper wiring to move data between AI chips.

🔥 Gas Freeze: Qatar could take weeks to restart LNG shipments after halting production and declaring a force majeure suspension, threatening supplies equal to about a fifth of global LNG trade, Reuters reports.

🛠️ Facilities Management: Saudi Logistics Services Co. acquired a 100% stake in Belgian ground handling firm Aviapartner Liege for $32.8 million.

✈️ Return Flight: Emirates will operate more than 100 flights in and out of Dubai over the next two days, carrying essential cargo and passengers as it works to partially restore its schedule, The National reports.

💰 Chinese Pullback: Some Chinese financial firms are reducing exposure to Middle Eastern debt amid a widening conflict, Bloomberg reports. 

⚡ Grid Guard: TAQA, the Abu Dhabi National Energy Co., said it activated risk-management and business-continuity plans to protect electricity and water supplies amid the Iran missile conflict.

💰 Tax Incentive: Some wealthy Dubai residents stranded abroad by the Iran war are attempting to return home quickly to avoid losing their tax-free residencies, The Financial Times reports.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, held phone calls with multiple foreign ministers and officials on Thursday to discuss the latest regional developments.

Prince Faisal bin Farhan, Saudi Minister of Foreign Affairs, held a phone call on Wednesday with Wang Yi, Foreign Minister of China.

Princess Haifa Al-Mogrin, Saudi Ambassador to Spain, met with Shaikha Nasser Al-Nowais, Secretary-General of the U.N. World Tourism Organization, at the organization’s headquarters in Madrid.

Nassef Sawiris, the Egyptian billionaire, was nominated by Adidas to be Chairman of the German sportswear maker, replacing Thomas Rabe.

Ben Black, CEO of the U.S. International Development Finance Corp., was tapped by U.S. President Donald Trump to help keep oil flowing through the Strait of Hormuz by offering U.S.-backed political-risk insurance to tanker owners after private insurers pulled coverage, the Financial Times reports.

Paul Griffiths, CEO of Dubai Airports, said in a LinkedIn post that he has been “working closely with airport authorities, airlines and security agencies to support our frontline teams as operations gradually stabilize.” 

☂️ Nanny Tales: Mary Poppins is coming to Abu Dhabi. The legendary umbrella-toting nanny immortalized in the 1964 Disney film will be singing “Supercalifragilisticexpialidocious” and “A Spoonful of Sugar” at Etihad Arena on Yas Island. Performances of the hit West End musical based on the movie run from March 25 to April 15.

March 25-27: Miami Beach, Fla. FII PRIORITY Miami 2026. Saudi Arabia’s Future Investment Initiative holds annual U.S. conference. Faena Hotel.

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC. 

April 6-13, Dubai. Quantum Innovation Summit. Part of Global Quantum Week, focusing on quantum technology and applications. Grand Hyatt.

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental. 

April 7-9, Dubai. Middle East Energy. Discover what’s new in energy. Dubai World Trade Centre. 

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 11-20, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC.

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 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 21-23, Dubai. UITP Summit 2026. A high-level event for the public transport sector looking at the future of urban mobility. Dubai World Trade Centre

April 24-26, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles.

April 29-30, Dubai. TOKEN2049 Dubai. A global gathering for the crypto ecosystem. Madinat Jumeirah.

EGYPT DETOUR

Egypt said it could facilitate the transit of Saudi oil through its territory to ease export bottlenecks, positioning the Suez Canal and its pipeline infrastructure as alternatives to the Strait of Hormuz. Petroleum Minister Karim Badawi said Tuesday that Egypt is prepared to transport Saudi crude from the Red Sea port of Yanbu to the Mediterranean via the Suez-Mediterranean Pipeline, known as Sumed. The proposal comes after Reuters reported that Saudi Aramco told some buyers of its Arab Light crude that cargoes must be loaded at Yanbu on the Red Sea coast – a move sources say is intended to bypass the Strait of Hormuz following recent attacks on shipping. The Sumed route is not a direct alternative to Hormuz but offers a complementary route. The line runs across Egypt from the Gulf of Suez to the Mediterranean and has a capacity of about 2.5 million barrels a day, according to the U.S. Energy Information Administration.

BLOCKED BULLION

Flight disruptions across the Middle East have slowed bullion shipments from Dubai, stalling gold flows from one of the world’s largest trading hubs and tightening logistics for refiners and dealers, Bloomberg reports. The UAE is a key hub in the global gold market, refining and exporting bullion across Asia and serving as a conduit for shipments from Switzerland and London through air cargo. Although the disruption in Dubai is expected to be temporary, prolonged flight suspensions by carriers including Emirates and Etihad Airways could squeeze supplies to key markets, echoing pandemic-era disruptions that created major arbitrage opportunities for banks such as JPMorgan Chase & Co. Shipping bullion overland to other regional airports is often considered too risky and complex compared with transporting gold in passenger aircraft cargo holds, where insurers typically limit shipments by value rather than weight. Industry experts say armored convoys are possible, but far from ideal.

Saudi Aramco: Shipping rates from Yanbu in Saudi Arabia have doubled as Aramco, the world’s biggest oil company, seeks to reroute crude exports away from the Strait of Hormuz toward Red Sea terminals.

AD Ports: The Abu Dhabi-owned shipping company said all its activities have been resumed after the company activated precautionary steps to safeguard its business from the Iran conflict.

International Holding Co.: A subsidiary of Abu Dhabi-listed 2PointZero Group has acquired an undisclosed stake in U.S. health-tech firm Whoop, which has raised over $400 million since 2005.

Masdar: Abu Dhabi’s green energy company will be a minority partner in a $1.2 billion green hydrogen project in Spain’s Andalusia region, approved by Spanish energy company Moev.

💰 Budget Boost: Saudi Arabia approved a new package of spending measures aimed at supporting growth and cushioning the private sector from the economic fallout of regional instability.

🥖 Food Shield: The UAE has secured a six-month strategic food reserve to stabilize domestic markets, Economy Minister Abdulla bin Touq Al Marri said, calling food security a red line as supply chains face strain.

🔧 Technical Design: Saudi Arabia’s Arabian Mills Company for Food Products signed $19 million in agreements with Bühler AG to supply equipment and technical designs for new and upgraded mills.

📈 Trading Restart: The Dubai Financial Market and Abu Dhabi Securities Exchange resumed trading today after a temporary halt triggered by regional tensions.

📊 Market Strain: Investors are reassessing exposure to Gulf assets as oil volatility, disrupted trade routes and rising geopolitical risk ripple through equities, bonds and commodities markets, the Financial Times reports.

🇪🇬 Egyptian Crisis: Egypt’s economy is facing mounting pressure from capital outflows, higher import costs and weaker currency conditions, complicating reform efforts backed by Gulf funding and international lenders, The National reports.

UAE President Sheikh Mohamed bin Zayed received a phone call from Ukrainian President Volodymyr Zelensky on Tuesday to discuss the military escalation in the Middle East. The UAE President received phone calls from world leaders expressing solidarity following the Iranian attacks, including Tanzania’s President Dr. Samia Suluhu Hassan, Finland’s President Alexander Stubb, Sri Lanka’s President Anura Kumara Dissanayake and South Africa’s President Cyril Ramaphosa. The UAE President also received a phone call from Dr. Ahmed Al‑Tayeb, the Grand Imam of Al‑Azhar.

Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan described Iran’s latest move as a provocative step likely to draw a coordinated response from Gulf Cooperation Council states, signaling heightened diplomatic and security coordination.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, met with Johann Wadephul, Minister of Foreign Affairs of Germany, in Berlin.

Bahrain’s Crown Prince and Prime Minister Salman bin Hamad Al Khalifa reaffirmed his country’s commitment to regional stability and coordination with allies as tensions escalate.

Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai, honored the winners of the Most Beautiful Quran Recitation for 2026 on Tuesday.

Michael O’Leary, CEO of Ryanair, said Easter bookings across Europe are rising as travelers divert from Middle East destinations affected by the conflict.

David Solomon, CEO of Goldman Sachs, said on Wednesday ⁠that it may ‌take a “couple of weeks” for investors to more fully digest the impacts of conflict in the Middle East.

Marc Rowan, CEO of Apollo Global Management, spoke on Bloomberg Live about how the firm is evolving its business in manufacturing, defense, AI and data to remain competitive not only in  the Middle East.

Dr. Faisal Mohammed Al‑Faqeerwas appointed CEO of Saudi Basic Industries Corp. (SABIC), following the resignation of Abdulrahman Al‑Fageeh.

🎾 Stadium Shock: The escalating Middle East conflict is rippling through global sports, stranding athletes and complicating travel to events such as the Milano Cortina Winter Paralympics. Tennis tournaments in the UAE were halted, soccer matches in Iran and Qatar were postponed, and Asian Champions League fixtures were delayed as security concerns mounted, Reuters reports. Motor racing has also been hit, with the World Endurance Championship postponing its Qatar season opener and Formula One monitoring whether next month’s races in Bahrain and Saudi Arabia can proceed as scheduled. 

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC. 

April 6-13, Dubai. Quantum Innovation Summit. Part of Global Quantum Week, focusing on quantum technology and applications. Grand Hyatt.

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental. 

April 7-9, Dubai. Middle East Energy. Discover what’s new in energy. Dubai World Trade Centre. 

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 11-20, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC.

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 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 21-23, Dubai. UITP Summit 2026. A high-level event for the public transport sector looking at the future of urban mobility. Dubai World Trade Centre

April 24-26, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles.

April 29-30, Dubai. TOKEN2049 Dubai. A global gathering for the crypto ecosystem. Madinat Jumeirah.

EXPAT EXODUS

Thousands of Western expats are rushing to leave the UAE, Bahrain, Qatar and other Gulf state after three days of Iranian drone and missile strikes. A limited number of commercial flights resumed on Monday from the UAE as the conflict involving the U.S., Israel and Iran had largely halted aviation. British authorities urged citizens in the Gulf to register online to facilitate possible evacuation. Flight prices between Asia and Europe have surged, and seats were selling out after key Middle Eastern hubs, including Dubai International Airport, Reuters reports. UAE President Sheikh Mohamed bin Zayed, meanwhile, sought to reassure Dubai residents that the government was working to keep them safe, making a public appearance at the Dubai Mall on Monday, setting off a storm of enthusiastic postings on Instagram and other social media.

TRADE AS USUAL

Seemingly undeterred from pursuing its long-term investment objectives amid Iranian bombardment, the UAE signed a trade pact with Ecuador on Sunday, with more than $3 billion in potential deals on the table. Dr. Thani Al Zeyoudi, UAE Minister of Foreign Trade, signed the Comprehensive Economic Partnership Agreement at a ceremony in the capital city of Quito on Sunday. It followed a visit to Ecuador by Abu Dhabi Crown Prince Khaled bin Mohamed, who met with President of Ecuador Daniel Noboa on Sunday ahead of the pact signing. Among the potential deals is a $250 million collaboration between the UAE’s EDGE Group and Ecuador’s Ministry of National Defense. Ecuador is the fourth Latin American country to sign a CEPA with the UAE, joining Costa Rica, Chile and Colombia. Al Zeyoudi said the UAE is Ecuador’s largest trading partner across the Arab world and Africa, accounting for about 30% of total trade with the regions combined.

Oman Investment Authority: OQ Exploration and Production, an Oman-listed exploration and production company, said the $1.6 billion Marsa LNG bunkering project is progressing as planned.

Qatar Investment Authority: A consortium of investors including BlackRock’s Global Infrastructure Partners, investment group EQT and the QIA agreed to acquire Arlington, Virginia-based utility AES for $10.7 billion.

Abu Dhabi Investment Authority: The Abu Dhabi sovereign fund sold its Novotel and Ibis hotels in Sydney’s Darling Harbour to Wentworth Capital for $390 million, the Australian Financial Review reports.

Qatar Energy: QatarEnergy said on Tuesday it has decided to temporarily halt downstream production in Qatar, including for urea, polymers, methanol and aluminum.

🍽️ Meal Deal: Saudi Arabia’s airline catering firm Catrion has acquired a majority shareholding in Riyadh-based airport hospitality firm Al Khalejiah Catering Co. in a deal worth as much as $117.56 million.

📺 Streaming Merger: Paramount Skydance said it will combine Paramount+ and HBO Max services into a single streaming platform to challenge Netflix after the Gulf-backed $110 billion deal to buy Warner Bros. Discovery.

🏘️ Winning Bid: United Real Estate Company has emerged as the winning investor for a major waterfront project in Kuwait City.

📉 Airline Pressures: The current Middle East conflict is testing the finances of international airlines as higher costs and geopolitical uncertainty weigh on routes and profitability, the Financial Times reports.

🚆 On Track: Etihad Rail operated a test run of a passenger service from Al Ghuwaifat, near the border with Saudi Arabia, to Al Faya station in Abu Dhabi on Tuesday, in co-ordination with the Emergencies, Crisis and Disasters Management Centre.

💻 AI Drive: Ethiopia is launching Medemer Artificial Intelligence University, poised to become Africa’s first university fully dedicated to AI and the world’s second such institution after Mohamed bin Zayed University of Artificial Intelligence.

🚢 Protect Hormuz: China urged all sides in the Iran conflict to immediately halt military operations and protect navigation through the Strait of Hormuz, as tanker traffic has largely stopped amid U.S.-Israel strikes and Iran’s response.

UAE President Sheikh Mohamed bin Zayed made a public appearance at the Dubai Mall on Monday, together with Sheikh Hamdan bin Mohammed, Dubai Crown Prince and UAE Defense Minister.

Sheikh Abdullah bin Zayed, the UAE Minister of Foreign Affairs and Deputy Prime Minister, held phone calls with several foreign ministers, including Dr. Fuad Mohammed Hussein of Iraq, Yvette Cooper of the U.K. and Dr. Subrahmanyam Jaishankar of India.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Minister of Defense and Deputy Prime Minister, held a telephone call with Sayyid Shihab bin Tarik, Deputy Prime Minister for Defense Affairs of Oman.

Prince Faisal bin Farhan, Saudi Foreign Minister, discussed the latest developments in the region with his counterparts from Egypt, Russia and Canada on Monday.

Mohamed Rashid bin Taliah was approved as Dubai’s Assistant Minister of Cabinet Affairs for Government Knowledge Exchange by Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai.

Joe Lonsdale, a founder of Palantir Technologies, said in a post on X the UAE’s Ministry of Defense “should be lauded” for its preparations to deal with missile fire from Iran.

🏎️ Engine Trouble: Formula One’s governing body is closely monitoring the conflict with Iran in the run-up to this weekend’s Australian Grand Prix, which opens an F1 season featuring races across the Middle East. Bahrain and Saudi Arabia hold their F1 races in April, while Qatar hosts in November and the Abu Dhabi Grand Prix closes the season in December. “We are in close contact with our member clubs, championship promoters, teams, and colleagues on the ground as we monitor developments ‌carefully and ⁠responsibly,” Mohammed Ben Sulayem, the Emirati who heads F1’s governing International Automobile Federation, said in a statement.

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC. 

April 6-13, Dubai. Quantum Innovation Summit. Part of Global Quantum Week, focusing on quantum technology and applications. Grand Hyatt.

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental. 

April 7-9, Dubai. Middle East Energy. Discover what’s new in energy. Dubai World Trade Centre. 

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 11-20, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC.

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 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 21-23, Dubai. UITP Summit 2026. A high-level event for the public transport sector looking at the future of urban mobility. Dubai World Trade Centre

April 24-26, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles.

April 29-30, Dubai. TOKEN2049 Dubai. A global gathering for the crypto ecosystem. Madinat Jumeirah.