CRASH PROBE

U.S. planemaker Boeing is back in the spotlight as investigators probe the cause of yesterday’s Air India plane crash that killed more than 290 people in the world’s worst aviation disaster in a decade. The Indian government is reportedly considering grounding the airline’s entire Boeing 787 Dreamliner fleet as a precaution while the cause of the disaster is determined. While multiple avenues of investigation are open, early inquiries are considering whether the aircraft suffered a reduction or loss of engine thrust, The Wall Street Journal reports. The crash complicates Boeing’s turnaround efforts under new Chief Executive Kelly Ortberg, just days after the company reported a healthy May order book and ahead of the crucial Paris Air Show next week. There are more than 1,100 Dreamliners in service around the world and just last month Boeing celebrated carrying its billionth customer on the model, which has so far had a good safety record. Boeing shares fell by almost 5% on Thursday.

BURJ BEACH CLUB

Ultra-luxury real estate developer Omniyat wants to transform Marasi Bay Island in the Burj Khalifa District into Dubai’s first urban beach club. The reclaimed island, located in a central location in Dubai, will offer curated waterfront experiences and exclusive amenities tailored for ultra-high-net-worth individuals. Connected to Downtown and other key districts, the project is designed to blend upscale living with leisure, wellness, and a touch of resort-style indulgence, according to a promotion published in The National. It will include a yacht club, jetty lounges, and a private floating park.

Public Investment Fund: The value of large-scale infrastructure contracts issued by the Saudi government and the PIF dropped by 77% in the first five months of 2025 compared to the same period last year, amid falling oil revenues and project realignments, signaling a sharp slowdown in the construction sector.

Public Investment Fund: The PIF earned an estimated $1.2 billion trading Nintendo shares, but may regret reducing its stake just before the record-breaking launch of the Switch 2 console last week, Arabian Gulf Business Insight reports.

G42: The UAE-based AI and technology group launched G42 Europe & U.K., headquartered in London, to deliver tailored AI solutions and support AI infrastructure development by the private sector and governments across the region.

ADQ: AD Ports Group, majority owned by ADQ, signed three agreements with the Arab Shipbuilding & Repair Yard Company to expand marine services and develop strategic maritime projects in Bahrain, including a joint venture to manage drydock facilities and enhance shipbuilding capabilities across the GCC.

🌀 Power Storage: The African Development Bank has approved $184 million for Egypt’s Obelisk solar and battery storage project, which is expected to be fully operational by the third quarter of 2026. 

🚀 Pumping Up: EDGE Group and Italian aerospace company Leonardo will establish a joint venture in Abu Dhabi to create an advanced defence technology hub.

⛽ LNG Import: Egypt signed LNG supply contracts with major global energy firms, including Saudi Aramco, Trafigura, Vitol, Shell, and others, to address peak summer power demand and declining domestic production.

🛵 Food Delivery: Keeta, the international arm of China’s largest food delivery app, is reportedly preparing to launch in Kuwait by early 2026 as part of its Gulf expansion strategy, possibly through acquiring a local logistics company.

💰 Capital Office: Hudson Bay Capital Management, a $20 billion multi-strategy investment firm, is expanding its UAE presence by opening an Abu Dhabi office later this year, adding to its existing Dubai team, Bloomberg reports.

💰 New Income: Kuwait expects to collect nearly $13.5 million in fines from about 4,100 companies that missed a June 10 deadline to disclose their true ownership, part of a government crackdown on money laundering.

🛢️ Looking Elsewhere: Iraq plans to invest in oil refineries in high-demand Asian markets like India, China, and others to boost crude sales and income.

🏭 Shaky Business: Amid growing earthquake fears, Turkey plans to relocate Istanbul’s industrial zones to safer areas with modern, quake-resistant infrastructure.

UAE President Sheikh Mohamed bin Zayed received Muhammad Shehbaz Sharif, Prime Minister of Pakistan, at Qasr Al Shati palace in Abu Dhabi during his working visit to the UAE. Sheikh Mohamed also had a phone call with Mark Carney, Prime Minister of Canada.

Bahrain’s King Hamad bin Isa Al Khalifa received Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, at Al Safriya Palace in Manama during an official visit by an Emirati delegation.

Saudi Crown Prince Mohammed bin Salman has decided not to attend next week’s G7 summit in Canada, Reuters reports.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has issued a resolution appointing Hamad Sayah Al Mazrouei as Undersecretary of the Department of Economic Development.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, met with Howard Lutnick, U.S. Secretary of Commerce, during his ongoing visit to Washington.

Sheikh Mohammed bin Abdulrahman Al Thani, Qatar’s Prime Minister and Minister of Foreign Affairs, met with Jean-Noel Barrot, French Minister for Europe and Foreign Affairs, on the sidelines of the third Qatar-France Strategic Dialogue held in Paris on Thursday.

Jasem Al-Budaiwi, Secretary-General of the Gulf Cooperation Council, met with British Foreign Secretary David Lammy in London on Thursday.

Aladdin Hangari, Head of Global private banking at HSBC Middle East said that the lack of succession planning by UAE entrepreneurs hinders their legacy.

Francis Alfred, Managing Director of Sobha Realty, said that the luxury developer’s ability to stand out in the UAE’s highly competitive property market is due to its “backward-integrated” model.

🤖Robotic World: In the Gulf, robots are slowly stepping off the screen and into daily life, from greeting visitors at Dubai’s Museum of the Future to patrolling beaches and offering tech support in Saudi hospitals. But this isn’t just about efficiency; it’s about how technology is beginning to shape the cultural fabric of public life, Arabian Gulf Business reports. As Saudi Arabia and its neighbors invest heavily in tourism, leisure, and healthcare, humanoid robots are being woven into the region’s broader vision of modernity, one that blends tradition with innovation. The machines may still be learning, but their presence hints at a future where they’re not just tools, but part of the everyday rhythm of life in the Middle East.

June 16-18, Riyadh. Sports Show Riyadh. The event connects exhibitors, architects, developers and key decision-makers from the sports infrastructure development, leisure facilities and public spaces industry. Riyadh International Convention and Exhibition Center.

June 16-18, Dubai. Credit Risk Management For Financial Investments. Credit risk professionals explore strategies for enhancing their frameworks. Venue TBA.

June 16-19, Boston. BIO International Convention 2025. The largest  world conference in biotechnology, drawing 20,000 industry leaders from across the globe, including the Middle East. Boston Convention & Exhibition Center

June 17-18, Abu Dhabi. Abu Dhabi Infrastructure Summit. A platform for policymakers, investors, developers, contractors, and industry experts to explore emerging trends and unlock investment opportunities. Abu Dhabi Energy Center. 

June 17-18, Dubai. Middle East Event Show. Featuring exhibitors, speakers, and event professionals, MEES offers expert-led workshops, tech showcases, and networking. Dubai World Trade Center.

June 17-18, Abu Dhabi. RetrofitTech and Sustainable Buildings. The event will bring industry leaders together to explore technology’s role in cutting carbon emissions. Dusit Thani Abu Dhabi.

June 17-19, Cairo. Big 5 Construct Egypt. Showcasing the latest products, technologies, and innovations shaping the future of construction. Egyptian International Exhibition Center. 

June 18, Dubai. Critical Infrastructure Summit. Senior stakeholders explore opportunities and challenges in public transportation, climate resilience, green spaces, and robust soft infrastructure. Habtoor Grand JBR. 

June 23-26, Amman. JIMEX Exhibition 2025. The event is a showcase of industrial engineering in the Near East. Jordan International Exhibition Center.

June 24, Dubai. Zawya GCC Capital Markets Forum. The event will bring together a diverse panel of C-suite-level participants from banks and top financial institutions. Fairmont Dubai. 

June 24-25, Dubai. Middle East Rail. The two-day programme will host more than 250 speakers from the region and beyond. Dubai World Trade Center.

June 24-25, Dubai. Mobility Live. A free-to-attend multi-brand exhibition hosting multiple country pavilions and  showcasing cutting-edge solutions. Dubai World Trade Center.

POWER SUPPLY

India is set to export 2GW of electricity each to Saudi Arabia and the UAE through high-voltage subsea cables, as part of a broader push to position itself as a regional energy exporter. The projects, estimated to cost $5.5 billion for the 1,700km Saudi link and $5.1 billion for the 1,400km UAE connection, were announced by India’s Power Minister Manohar Lal Khattar. State-run Power Grid Corporation of India is leading the initiative and is formalising joint ventures with both Gulf states, following earlier talks with Oman. The undersea connections, which are expected to take six years to complete, are part of New Delhi’s strategic effort to deepen economic and energy ties with the Gulf.

LOCAL PRODUCTION

Emirati talent will take centre stage in a new $15 million production slate between Abu Dhabi’s Creative Media Authority and NG9 Group to showcase local creativity on a global platform. The deal includes two feature films and a 10-episode TV series, set to begin filming in September with local crews and creatives under the Abu Dhabi Film Commission’s enhanced rebate programme. The CMA will provide location support, casting, and talent development, while NG9 – a consortium of Nirvana Holding, Gewan Holding, and 9Yards Group – will extend preferential rates on hospitality and transport. The initiative reinforces Abu Dhabi’s strategy to position itself as a global creative hub.

Public Investment Fund: ChatGPT maker OpenAI has held talks with Saudi Arabia’s PIF, India’s Reliance Industries, and UAE-based MGX about its $40 billion funding round, The Information reports.

Public Investment Fund: Saudi utility ACWA Power, backed by the PIF, plans to invest another $5 billion in Uzbekistan’s energy sector. ACWA said the deal was part of a broader strategy to increase its overall commitments in the Central Asian nation to $15 billion.

Qatar Investment Authority: Qatar-backed Rolls-Royce SMR won a $2.9 billion U.K. contract to build three modular nuclear reactors, boosting parent company Rolls-Royce’s shares to a record high. The QIA owns 10% equity in Rolls-Royce SMR after investing $115 million in the joint venture in 2021.

🍕 Pizza Slice: Apollo Global Management and Irth Capital, backed by Qatar royal Sheikh Mohamed al Thani, have jointly bid about $2 billion for Papa John’s, Semafor reports.

🪙 Flash Token: Dubai Land Department announced that its second tokenized project on the PRYPCO Mint platform was fully funded in 1 minute and 58 seconds, drawing 149 investors from 35 nationalities and pushing the waiting list to over 10,000.

💰 Oil Growth: Kuwait’s Independent Petroleum Group is borrowing $1 billion through local banks to fund new projects as part of broader efforts to expand the country’s oil sector.

💵 Big Bucks: Saudi Arabia awarded around $9.6 billion in public contracts during the first five months of 2025, with April seeing the highest value and May the lowest, according to the Saudi Contractors Authority.

🖥️ Secure AI: Israeli AI-powered data security startup Cyera raised $540 million in a late-stage funding round, doubling its valuation to $6 billion as it aims to scale its platform to meet rising enterprise demand.

🟢 Green Light: Shares in Emaar Properties rose on Wednesday after both S&P Global Ratings and Moody’s upgraded the company’s credit ratings.

₿ Crypto Syria: Binance, the world’s largest cryptocurrency exchange, will allow Syrians full access to its platform, including trading over 300 tokens with the Syrian pound, Reuters reports. 

🚪 Exit Pass: Starting in July, expatriate private sector workers in Kuwait will be required to obtain their employer’s official approval before traveling abroad.

🏗️ 3D Schools: Qatar’s UCC Holding, a construction and energy company,  has started building two public schools using 3D printing, in what is said to be the world’s largest project of its kind.

🤑 Stable Remittance: Fresh off a $1 billion IPO, stablecoin issuer Circle is in early talks with UAE remittance firms to integrate its $60 billion USDC token into one of the world’s busiest payment corridors, Arabian Gulf Business Insight reports. 

UAE President ​​Sheikh Mohamed bin Zayed was invited by Mark Carney, Prime Minister of Canada, to participate in the G7 Summit to be held in Alberta from June 15 to 17.

Sheikh Mohamed, along with Sheikh Mohammed bin Rashid, Ruler of Dubai and UAE Vice President and Prime Minister, and Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, offered their condolences to Saudi Arabia’s King Salman over the passing of Prince Faisal bin Turki bin Saud Al Kabir Al Saud. Condolences also came from the ruling families of Sharjah, Ajman, Fujairah, Umm Al Quwain, and Ras Al Khaimah. Qatar’s Emir, Sheikh Tamim Al Thani, and Deputy Emir, Sheikh Abdullah Al Thani, also conveyed their condolences. 

Sheikh Hamdan bin Zayed, Ruler’s Representative in Al Dhafra Region, received Timur Zabirov, Russia’s Ambassador to the UAE, at Al Nakheel Palace in Abu Dhabi on Wednesday.

Sheikh Sultan bin Ahmed Al Qasimi, Deputy Ruler of Sharjah, President of the University of Sharjah, and Chairman of the University’s Board of Trustees, chaired the fifty-ninth meeting of the Board on Wednesday at his office at the university’s headquarters.

Sheikh Mohammed bin Abdullah Al Nahyan paid a visit to Al Ain FC at training headquarters for the FIFA Club World Cup 2025 in Alexandria, Virginia, on Wednesday in the presence of Sheikh Sultan bin Hamdan Al Nahyan, Chairman of the Board of Directors of Al Ain Club and Chairman of Al Ain FC’s mission at the Club World Cup.

Mohammad Al Gergawi, UAE Minister of Cabinet Affairs, told a gathering of senior officials and employees of Emirates Airline that the company, which was founded 40 years ago, was the greatest airline in the world and reflected the vision of Sheikh Mohammed bin Rashid, Ruler of Dubai and UAE Vice President and Prime Minister, rooted in Dubai’s enduring passion for competition and innovation.

Abdulla Al Hamed, Chairman of the National Media Office and Chairman of the Board of Directors of the UAE Media Council, held several meetings in London with media sector leaders in preparation for the NMO’s Bridge Summit in Abu Dhabi in December. The meetings were also attended by Dr. Jamal Mohammed Al Kaabi, Director-General of the National Media Office.

Evgeny Ratskevich, CEO of Metropolitan Capital Real Estate, told Arabian Gulf Business Insight that Abu Dhabi’s branded residences are cheaper than in Dubai and Ras Al Khaimah.

Carlos Pascual, Senior Vice President for Geopolitics and International Affairs at S&P Global Commodity Insights, told Zawya that rising solar and battery competitiveness, especially in the Middle East, is reshaping energy markets and driving a regional focus on critical minerals and grid storage.

Thierry Delvaux, CEO of Emirates REIT, one of the UAE’s largest listed Islamic-compliant real estate investment funds, said that strong demand from local and foreign investors, coupled with limited supply, is driving up Dubai office rents and boosting returns.

📚 Bookshelf Bling: Abu Dhabi has been given the Assouline treatment with the launch yesterday of a colorful, high-end travel book about the emirate written by cultural expert Myrna Ayad. The book, titled “Abu Dhabi Bright,” includes beautiful images and highlights attractions including Sheikh Zayed Grand Mosque, Louvre Abu Dhabi and Al Ain’s desert oasis.

June 11-13, Dubai. China Homelife UAE Expo. The event features top global suppliers showcasing products ranging from kitchen supplies to building materials. Dubai World Trade Center. 

June 16-18, Riyadh. Sports Show Riyadh. The event connects exhibitors, architects, developers and key decision-makers from the sports infrastructure development, leisure facilities and public spaces industry. Riyadh International Convention and Exhibition Center.

June 16-18, Dubai. Credit Risk Management For Financial Investments. Credit risk professionals explore strategies for enhancing their frameworks. Venue TBA.

June 16-19, Boston. BIO International Convention 2025. The largest  world conference in biotechnology, drawing 20,000 industry leaders from across the globe, including the Middle East. Boston Convention & Exhibition Center

June 17-18, Abu Dhabi. Abu Dhabi Infrastructure Summit. A platform for policymakers, investors, developers, contractors, and industry experts to explore emerging trends and unlock investment opportunities. Abu Dhabi Energy Center. 

June 17-18, Dubai. Middle East Event Show. Featuring exhibitors, speakers, and event professionals, MEES offers expert-led workshops, tech showcases, and networking. Dubai World Trade Center.

June 17-18, Abu Dhabi. RetrofitTech and Sustainable Buildings. The event will bring industry leaders together to explore technology’s role in cutting carbon emissions. Dusit Thani Abu Dhabi.

June 17-19, Cairo. Big 5 Construct Egypt. Showcasing the latest products, technologies, and innovations shaping the future of construction. Egyptian International Exhibition Center. 

June 18, Dubai. Critical Infrastructure Summit. Senior stakeholders explore opportunities and challenges in public transportation, climate resilience, green spaces, and robust soft infrastructure. Habtoor Grand JBR. 

June 23-26, Amman. JIMEX Exhibition 2025. The event is a showcase of industrial engineering in the Near East. Jordan International Exhibition Center.

June 24, Dubai. Zawya GCC Capital Markets Forum. The event will bring together a diverse panel of C-suite-level participants from banks and top financial institutions. Fairmont Dubai. 

June 24-25, Dubai. Middle East Rail. The two-day programme will host more than 250 speakers from the region and beyond. Dubai World Trade Center.

June 24-25, Dubai. Mobility Live. A free-to-attend multi-brand exhibition hosting multiple country pavilions and  showcasing cutting-edge solutions. Dubai World Trade Center.

SOFT LANDING


Troubled U.S. planemaker Boeing received the highest number of monthly orders in more than a year last month, bolstered by deals made during President Donald Trump’s trip to the Middle East, Bloomberg reports. The total 303 aircraft ordered in May included a deal with Qatar Airways to purchase 120 787 Dreamliners and 30 777X jets, as well as the sale of up to 30 737 jets to AviLease, the global aircraft lessor owned by Saudi Arabia’s Public Investment Fund. Boeing delivered 45 aircraft, including 32 narrow body 737 jets, during the month. The healthy order book comes as Boeing heads to the Paris Air Show next week, a crucial event for sales and an opportunity for the airline to demonstrate that it is recovering from the deep crisis it has been in since early last year.

GAME ON

The UAE Lottery has introduced two new digital games offering prizes of up to $340,000, as it seeks to expand its product offering within the country’s nascent regulated gaming sector. The launch of Marble Run and Lucky Lagoon, the new titles, overseen by the General Commercial Gaming Regulatory Authority, reflect a broader state-backed effort to formalise lottery and gaming activities, The National reports. The expansion marks the first significant product rollout since the Lottery was licensed in 2023, and coincides with a multi-year partnership between UAE Lottery operator Game LLC and U.S.-based EQL Games. The move signals growing investor interest and regulatory confidence in the UAE’s evolving commercial gaming landscape.

ADNOC: ADNOC Gas, a unit of Abu Dhabi’s national oil company, has awarded $5 billion in contracts for the first phase of its Rich Gas Development project to enhance liquid gas exports and bolster the UAE’s gas self-sufficiency.

Saudi Aramco: Nigeria and Saudi Arabia’s national oil company are struggling to finalize a $5 billion oil-backed loan, which was previously discussed in November, as falling crude prices raise concerns among potential bank lenders, Reuters reports. 

International Holding Company:  Easy Lease, a subsidiary of IHC, partnered with U.S.-based BigBear.ai and Vigilix Technology Investment to accelerate AI-driven solutions for digital transformation in mobility, logistic​​s and key sectors across the UAE and the region.

International Holding Company: Royal Development Holding, a subsidiary of IHC’s Emirates Stallions Group, has partnered with SAAS Properties to launch a AED1.6 billion  ($436 million) branded residence project on Reem Island in Abu Dhabi.

G42: Nvidia will partner with UAE-based Khazna Data Centers to build AI facilities in the Middle East and Africa.

Public Investment Fund: American professional golfer Bryson DeChambeau ​​​​expressed confidence in his future with the PIF’s LIV Golf tour, saying he’s “super excited” to renegotiate his contract, reported to be worth $100 million, later this year.

⚕️ Pipe Dreams: Jindal SAW, a manufacturer of steel pipes in India, will establish a $105 million facility in Abu Dhabi to cater to the MENA market. 

🤝 Helping Hand: The European Bank for Reconstruction and Development will lend $86 million to Turkey’s development bank TSKB to support businesses that support women, youth and those affected by the 2023 earthquakes.

🚢 Moving Forward: Dubai-listed Gulf Navigation signed a sale and purchase agreement to finalize its $871 million deal to acquire the assets of Brooge Energy, a Cayman Islands-based midstream oil storage and services company.

🏭 Chemical Bond: Borouge and ADNOC Logistics & Services signed a $531 million partnership to boost UAE petrochemical exports, cut costs, and enhance supply chain operations at the Borouge terminal in Al Ruwais.

🏦 Tapping Debt: Muscat Finance plans to launch a $130 million bond programme in multiple tranches, to be listed on the Muscat Stock Exchange.

📈 Expanding Shop: Spain’s second-largest lender, BBVA SA, is planning to expand its corporate and investment banking operations in Abu Dhabi by upgrading its representative office into a full banking branch, Bloomberg reports. 

🪙 Crypto Rules: Abu Dhabi’s ADGM free zone has moved to streamline the approvals process for digital assets as it seeks to attract more institutional players.

🐪 Camel Rides: Egypt wants to attract 30 million tourists by 2031 as part of a new strategy to boost foreign investment in tourism and antiquities, Prime Minister Mostafa Madbouly told a cabinet meeting on Tuesday.

🪨 Carbon Token: The Qatar Financial Centre is developing a tokenised carbon markets ecosystem to facilitate cross-border carbon credit trading.

💵 Discount Offers: Gulf investment banks are slashing or waiving IPO fees to win deals amid a surge in listings, as global activity slows and competition intensifies.

⛰️ Business Influx: Fueled by European tourists and an aggressive marketing drive, Oman’s hotel sector broke its April record for stays and saw revenue climb sharply to $283 million.

UAE President Sheikh Mohamed bin Zayed received Qatar’s Prime Minister and Minister of Foreign Affairs, Sheikh Mohammed bin Abdulrahman Al Thani, on Tuesday.

Sheikh Abdullah bin Zayed, UAE Deputy Prime Minister and Minister of Foreign Affairs, met U.S. Secretary of State Marco Rubio at the State Department on Tuesday.

Sheikh Mohammed bin Rashid, Ruler of Dubai and UAE Vice President and Prime Minister, honoured the winners of the fourth edition of the Mohammed Bin Rashid Al Maktoum Global Water Award during a ceremony that took place at Emirates Towers in Dubai on Tuesday and was attended by Sheikh Ahmed bin Mohammed, Second Deputy Ruler of Dubai.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, received Larry Fink, Chairman and CEO of BlackRock, in Abu Dhabi on Tuesday. Sheikh Khaled also chaired a meeting of the Executive Committee of the ADNOC Board of Directors to review the financial performance of the group in the first quarter of 2025.

Sheikh Theyab bin Mohamed, Deputy Chairman of the Presidential Court for Development and Fallen Heroes’ Affairs, chaired the Emirates Foundation’s first board meeting of 2025.

Claude Kurzo has been appointed as JP Morgan’s new Head of Middle East for its asset management division.

Mohamad El Hout, Chairman of Lebanon’s Middle East Airlines, told The National that the airline is studying setting up a low-cost carrier to serve destinations in the Middle East and Europe, as the country plans to construct a second terminal in Beirut airport.

Abdulla Al Hamed, Chairman of the National Media Office and Chairman of the Board of Directors of the UAE Media Council, visited the London Design Biennale 2025, during which he toured the pavilion of the Department of Culture and Tourism – Abu Dhabi.

Ben Black, U.S. President Donald Trump’s nominee for Chief Executive Officer of the U.S. International Development Finance Corporation, had his confirmation hearing before the Senate Foreign Relations Committee on Tuesday.

🐬 Artistic Leap: A species of dolphin known for making acrobatic leaps above the water in its Arabian Gulf habitat is the inspiration for a new sculptural work going on show at Christie’s Dubai today. “Spinning Dolphin Stool” is a seat made from recycled aluminum cans collected from beaches and mangroves by artist Zahra Ebrahimi Behfar, who goes by Saghi.

June 11-13, Dubai. China Homelife UAE Expo. The event features top global suppliers showcasing products ranging from kitchen supplies to building materials. Dubai World Trade Center. 

June 12, Dubai. Dubai Family Office Investment Summit. The event hosted by Epicon Capital Club is aimed at family offices, serial entrepreneurs, private investors, fund managers and government entities. Venue to be provided upon registration.

June 16-18, Riyadh. Sports Show Riyadh. The event connects exhibitors, architects, developers and key decision-makers from the sports infrastructure development, leisure facilities and public spaces industry. Riyadh International Convention and Exhibition Center.

June 16-18, Dubai. Credit Risk Management For Financial Investments. Credit risk professionals explore strategies for enhancing their frameworks. Venue TBA.

June 16-19, Boston. BIO International Convention 2025. The largest  world conference in biotechnology, drawing 20,000 industry leaders from across the globe, including the Middle East. Boston Convention & Exhibition Center

June 17-18, Abu Dhabi. Abu Dhabi Infrastructure Summit. A platform for policymakers, investors, developers, contractors, and industry experts to explore emerging trends and unlock investment opportunities. Abu Dhabi Energy Center. 

June 17-18, Dubai. Middle East Event Show. Featuring exhibitors, speakers, and event professionals, MEES offers expert-led workshops, tech showcases, and networking. Dubai World Trade Center.

June 17-18, Abu Dhabi. RetrofitTech and Sustainable Buildings. The event will bring industry leaders together to explore technology’s role in cutting carbon emissions. Dusit Thani Abu Dhabi.

June 17-19, Cairo. Big 5 Construct Egypt. Showcasing the latest products, technologies, and innovations shaping the future of construction. Egyptian International Exhibition Center. 

June 18, Dubai. Critical Infrastructure Summit. Senior stakeholders explore opportunities and challenges in public transportation, climate resilience, green spaces, and robust soft infrastructure. Habtoor Grand JBR. 

June 23-26, Amman. JIMEX Exhibition 2025. The event is a showcase of industrial engineering in the Near East. Jordan International Exhibition Center.

June 24, Dubai. Zawya GCC Capital Markets Forum. The event will bring together a diverse panel of C-suite-level participants from banks and top financial institutions. Fairmont Dubai. 

June 24-25, Dubai. Middle East Rail. The two-day programme will host more than 250 speakers from the region and beyond. Dubai World Trade Center.

June 24-25, Dubai. Mobility Live. A free-to-attend multi-brand exhibition hosting multiple country pavilions and  showcasing cutting-edge solutions. Dubai World Trade Center.

ROAD TO DAMASCUS

A delegation of senior executives from Dubai conglomerate Al Habtoor Group will head to Syria in coming days to explore investment opportunities, led by Chairman Khalaf Al Habtoor. “As an Arab group with deep regional roots, we consider it both a moral and economic responsibility to stand as a partner in rebuilding stable and thriving societies,” Al Habtoor said in a statement. In the six months since the fall of the regime of former president Bashar Al Assad, the U.S. and EU have lifted sanctions and the war-torn country has attracted huge investment commitments from Gulf countries to aid in its economic recovery. Among the pledges are a $7 billion energy infrastructure deal led by Qatar and an $800 million development agreement with Dubai ports group DP World. Al Habtoor Group has diverse interests across industries including automotive, hospitality, education and real estate. It is the distributor for Mitsubishi in the UAE and operates the world’s largest Bentley Motors showroom on Dubai’s Sheikh Zayed Road.

NEW TRACKS

The foundation stone has been laid for the first station on Dubai’s new $5 billion Metro Blue Line project, which will start at Dubai Creek Harbour and run for 30 kilometers north-east of the city, adding 14 new stations. Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, made the announcement on X yesterday, hailing the first station, to be named after developer Emaar Properties, as an “architectural icon.” At 74 meters, it will claim the title of the tallest metro station in the world. The Blue Line will connect five main urban areas – Bur Dubai/Deira, Downtown/Business Bay, Dubai Silicon Oasis, Dubai Marina/JBR and Expo City Dubai.

Oman Investment Authority: Taadeen, a subsidiary of the Omani sovereign wealth fund, has replaced Russia’s sanctions-hit Alrosa as a shareholder in Angola’s Catoca diamond mine, Reuters reports.

ADQ: AD Ports Group, which is majority owned by the Abu Dhabi sovereign wealth fund, is partnering in a feasibility study with Masdar, Advario and CMA CGM Group for the development of an e-methanol bunkering facility at Khalifa Port and Khalifa Economic Zones Abu Dhabi. E-methanol is considered a potential “green” fuel alternative for sectors including shipping and aviation.

Etihad Airways: CEO Antonoaldo Neves said the ADQ-owned Emirati carrier has no plans to invest in Indian airlines, distancing the company from its previous strategy, India’s Economic Times reports. 

🏙️ Luxury Buyout: Driven Properties, a member of the Forbes Global Properties network, completed the sale of the last two penthouses at the Bulgari Lighthouse on Jumeirah Bay Island in Dubai for a combined $77 million.

💵 Expanding Business: Agility Global, a Kuwait-based logistics company, secured a $500 million loan from an undisclosed regional bank to support its operations and expansion plans, Arabian Gulf Business Insight reports.

🦘 Down Under: Emirates NBD has issued a mandate for a potential 10-year Australian dollar benchmark bond with an indicative yield of 6.05% under its $4 billion Kangaroo Debt Issuance Programme.

🪞 True Identity: Unibeam, an Israeli startup developing cryptographic authentication technology, raised $6 million in a seed funding round led by NFX.

🇮🇳 Saudi HQ: Indian technology company Wipro moved its Middle East headquarters to Riyadh from Al Khobar and signed a draft agreement with Prince Mohammad bin Fahd University to establish a “Center of Excellence” training center in the Saudi capital.

🏢 Urban Life: BEEAH, a UAE-based waste management and sustainability company, announced its expansion into real estate development with a project focused on sustainable urban living.

💰 Investment Magnets: he growing influence of Dubai and Abu Dhabi on the $4.5 trillion hedge fund industry is highlighted in a new report by IG Prime..

🛢️ Dipping Supply: Saudi Arabia’s crude oil supply to China will decrease slightly in July, trade sources told Reuters on Tuesday. 

💼 New Arrival: Harrison Street, a U.S asset manager with $56 billion under management, has opened an office in Abu Dhabi’s ADGM free zone after receiving its financial services license.

UAE President Sheikh Mohamed bin Zayed received Sultan Mufaddal Saifuddin of the Dawoodi Bohra community on Monday. The meeting was attended by Sheikh Hamdan bin Zayed, Ruler’s Representative in Al Dhafra Region; Sheikh Hazza bin Zayed, Ruler’s Representative in Al Ain Region; and Lt. Gen. Sheikh Saif bin Zayed, UAE Deputy Prime Minister and Minister of the Interior.

Saudi Crown Prince Mohammed bin Salman was invited by Canada to attend the Group of Seven summit, Bloomberg reports. 

Majed Julfar is returning to Deutsche Bank to oversee the firm’s UAE business after working for the past six years at Etihad Credit Insurance. He replaces Kees Hoving, who retired.

Francisco Blanch, Head of Commodities Research at Bank of America, told Bloomberg that OPEC+’s oil-output hikes are part of a Saudi strategy that will see the kingdom embark on a “long but shallow” price war designed to recapture market share lost to U.S. shale.

Barry Sternlicht, Chief Executive Officer of Starwood Capital, spoke to the Wall Street Journal about how the group is managing the $850 million queue of redemption requests at one of its biggest real estate funds by imposing limits on withdrawals while gradually unloading properties. “We’re not going to have fire sales,” he said.

✒️ Talking Tots: All preschool children in Abu Dhabi will learn Arabic for four hours a week starting from the new academic year at the end of August. While Arabic was already mandated from Grade 1, under the new policy, pupils from pre-kindergarten age (3-4 years old) will be given 240 minutes a week of age-appropriate Arabic instruction. Lessons will be given to all children, including native Arabic speakers, and will be based on play, storytelling and songs. “It’s about giving every child in Abu Dhabi the gift of language, identity and connection, starting from day one,” Mariam Al Hallami, Education Department Executive Director for Early Education, said. “We want Arabic to feel natural, interactive and alive in every classroom and every home.”

June 11-13, Dubai. China Homelife UAE Expo. The event features top global suppliers showcasing products ranging from kitchen supplies to building materials. Dubai World Trade Center. 

June 12, Dubai. Dubai Family Office Investment Summit. The event hosted by Epicon Capital Club is aimed at family offices, serial entrepreneurs, private investors, fund managers and government entities. Venue to be provided upon registration.

June 16-18, Riyadh. Sports Show Riyadh. The event connects exhibitors, architects, developers and key decision-makers from the sports infrastructure development, leisure facilities and public spaces industry. Riyadh International Convention and Exhibition Center.

June 16-18, Dubai. Credit Risk Management For Financial Investments. Credit risk professionals explore strategies for enhancing their frameworks. Venue TBA.

June 16-19, Boston. BIO International Convention 2025. The largest  world conference in biotechnology, drawing 20,000 industry leaders from across the globe, including the Middle East. Boston Convention & Exhibition Center

June 17-18, Abu Dhabi. Abu Dhabi Infrastructure Summit. A platform for policymakers, investors, developers, contractors, and industry experts to explore emerging trends and unlock investment opportunities. Abu Dhabi Energy Center. 

June 17-18, Dubai. Middle East Event Show. Featuring exhibitors, speakers, and event professionals, MEES offers expert-led workshops, tech showcases, and networking. Dubai World Trade Center.

June 17-18, Abu Dhabi. RetrofitTech and Sustainable Buildings. The event will bring industry leaders together to explore technology’s role in cutting carbon emissions. Dusit Thani Abu Dhabi.

June 17-19, Cairo. Big 5 Construct Egypt. Showcasing the latest products, technologies, and innovations shaping the future of construction. Egyptian International Exhibition Center. 

June 18, Dubai. Critical Infrastructure Summit. Senior stakeholders explore opportunities and challenges in public transportation, climate resilience, green spaces, and robust soft infrastructure. Habtoor Grand JBR. 

June 23-26, Amman. JIMEX Exhibition 2025. The event is a showcase of industrial engineering in the Near East. Jordan International Exhibition Center.

June 24, Dubai. Zawya GCC Capital Markets Forum. The event will bring together a diverse panel of C-suite-level participants from banks and top financial institutions. Fairmont Dubai. 

June 24-25, Dubai. Middle East Rail. The two-day programme will host more than 250 speakers from the region and beyond. Dubai World Trade Center.

June 24-25, Dubai. Mobility Live. A free-to-attend multi-brand exhibition hosting multiple country pavilions and  showcasing cutting-edge solutions. Dubai World Trade Center.

KINGDOM CARS

Lucid Motors would welcome tariffs on foreign cars in Saudi Arabia to support domestic manufacturing, Interim CEO Marc Winterhoff said. The electric vehicle maker, which is majority owned by Saudi Arabia’s Public Investment Fund, has been talking with the government about potential tariffs, Winterhoff told Bloomberg on the sidelines of the Saudi-U.S. Investment Forum in Riyadh. Without tariffs, the kingdom would “run the risk that you kill the industry in its infancy,” he said. Meanwhile, the PIF and South Korean automaker Hyundai have established a new plant, which is expected to produce 50,000 vehicles annually by late 2026.

BRAIN GAIN

Elon Musk’s Neuralink will team up with the Cleveland Clinic Abu Dhabi to conduct the first clinical trials of its brain chip technology outside America. Neuralink’s futuristic chip is a brain-computer interface technology which is designed to improve the lives of paralysed patients by helping them control a computer by thought. So far, it has only been tested on three people in the U.S. The trial program, to be called UAE-PRIME, was announced by the Department of Health Abu Dhabi on Wednesday, ahead of the arrival in the UAE of U.S. President Donald Trump and his high-powered delegation, which includes billionaire Musk. Abu Dhabi is actively positioning itself as a launchpad for global health innovation and has been seeking further U.S. support for its newly announced $25.6 billion health cluster. 

Public Investment Fund: Saudi Arabia’s ACWA Power has signed $500 million in new agreements with several U.S. firms, expanding joint energy projects to more than $6 billion between the two countries.

NEOM: Aiman al-Mudaifer has been confirmed as the CEO of NEOM, Saudi Arabia’s Public Investment Fund confirmed in a statement. Mudaifer has been acting in the role since November, succeeding Nadhmi al-Nasr.

ADNOC: XRG, an international investment arm of Abu Dhabi’s national oil company, said it has taken a 38% stake in a natural gas block off the coast of Turkmenistan.

Kuwait Investment Authority: Airbus has delivered the first of nine A321neo jets to Kuwait Airways. The new jets aim to support the airline’s fleet modernization strategy and enhance operational efficiency with advanced cabin features.

🌴 Agri-Power: Saudi Arabia and China have signed 57 agreements worth $3.7 billion to enhance trade ties, primarily focusing on agriculture.

🛢️ Oil Deals: Saudi energy giant Aramco signed 34 deals worth around $90 billion with major U.S. companies across LNG, chemicals, AI, and emissions tech sectors to advance its long-term strategy.

🐔 Feathered Growth: Jordan Capital and Investment Fund has acquired a 23.3% stake in Al Jazeera Agriculture, supporting the poultry firm’s expansion and bringing the fund’s total investments in Jordan to $140 million across six companies.⚕️ City Steel: Tsingshan Holding Group won a contract to build Iraq’s first industrial city that will be dedicated mainly to steel and construction materials.

📈 IPO Jump: eToro, an Israeli-founded stock and crypto trading platform, raised $620 million in an IPO on the Nasdaq, with the shares leaping 29%, giving the company a market value of $5.5 billion.

💰 Back in Business: Syria expects an inflow of foreign investment following the lifting of U.S. sanctions and President Donald Trump’s meeting in Saudi Arabia on Wednesday with Interim Syrian President Ahmed al-Sharaa.

🇯🇴 Trade Pact: A free-trade agreement between the UAE and Jordan that takes effect today is expected to boost non-oil trade between the two countries to more than $8 billion by 2032.

🤝 Textile Rush: Egypt has invited 25 Chinese clothing firms to invest in its expanding textile sector and hosted 37 Chinese executives for talks on new projects as part of a major industry development push.

😴 Sleep Tight: Eight Sleep, a sleep tech company, has expanded into Saudi Arabia as part of its GCC growth strategy, positioning the kingdom alongside the UAE as a key market for its AI-powered sleep technology.

📈 Compliant Development: Qatar’s Real Estate Regulatory Authority has signed an agreement with Qetaifan Projects, a real estate company, making it one of the first developers to commit to complying with new real estate project regulations.

UAE President Sheikh Mohamed bin Zayed received Prince Khalid bin Salman, Saudi Arabia’s Minister of Defense, at Qasr Al Shati palace in Abu Dhabi. The meeting was attended by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, UAE Deputy Prime Minister and Minister of Defense; Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and National Security Adviser; Sheikh Hamdan bin Mohamed, Deputy Chairman of the Presidential Court for Special Affairs; Sheikh Mohamed bin Hamad, Adviser to the UAE President.

Saudi Crown Prince Mohammed bin Salman met on Wednesday with Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, on the sidelines of the Gulf–U.S. Summit in Riyadh.

​​Egypt’s President Abdel Fattah Al-Sisi held a series of meetings on Wednesday with Prime Minister Mostafa Madbouly and Deputy Prime Minister for Human Development and Minister of Health and Population Khaled Abdel Ghaffar to assess progress in Egypt’s human development strategy, including healthcare, population and education reform.

Lt. Gen. Sheikh Saif bin Zayed, UAE Deputy Prime Minister and Minister of Interior, met with Belarus Minister of Internal Affairs Ivan Kubrakov.

Lakshmi Mittal, the India-born chairman of steelmaker ArcelorMittal, bought a palatial $200 million home in Dubai’s Emirates Hills community, Bloomberg reports.

Saad Al-Kaabi, Qatar’s Energy Minister and CEO of Qatar Energy, told CNBC that while renewables are vital, the world still needs reliable energy sources like LNG to meet rising global demand and support economic growth.

Michael Katounas, Chief Investment Officer at Multiply Group, highlighted the UAE’s efforts in attracting international investments during a panel discussion at the Economy Middle East summit, adding that the country has attracted global companies to compete in different sectors.

🎞️ Film Launch: “Promised Sky,” a film backed by Saudi Arabia’s Red Sea Fund, premiered in the Un Certain Regard section of the 78th Cannes Film Festival yesterday. Directed by French-Tunisian filmmaker Erige Sehiri, the film follows the fate of three Ivorian women making a fresh start in Tunisia, where they take in a four-year-old shipwreck survivor. Sehiri attended the screening, alongside cast members Deborah Naney, Aissa Maiga and Laetitia Ky.

May 16, Milan. Investopia Europe 3rd Edition. Highlighting discussions around transforming the global economy. Featured speakers include Abdulla bin Touq Al Marri, UAE Minister of Economy and Chairman of Investopia, and UAE Minister of State for Entrepreneurship Alia Abdulla Al Mazrouei. Palazzo Mezzanotte.

May 16-17, Tirana, Albania. FII Priority Europe 2025. Saudi Arabia’s Public Investment Fund sponsors a regional business summit focused on Europe and is affiliated with the annual Future Investment Initiative conference in Riyadh. National Theater of Opera and Ballet.

May 19-20, Abu Dhabi. Arqaam Capital 12th Annual MENA Investor Conference. The event will bring together 80+ MENA corporates with regional and international investors. Four Seasons Hotel Abu Dhabi at Al Maryah Island.

May 19-22, Abu Dhabi. Make it in the Emirates. The  UAE’s premier manufacturing event, uniting innovators, investors, and policymakers to shape the future of industry. ADNEC.

May 20-22, Dubai. Seamless Middle East. The Middle East’s biggest fintech event, bringing together big tech, government, banks, financial institutions, fintech, investors and media. Dubai World Trade Center.

May 20-22, Doha, Qatar. Qatar Economic Forum. Annual conference bringing together Qatari government and business leaders with corporate executives, investors and policymakers from around the world. Media City Qatar.

May 21, Dubai. The AWS Summit. A one-day event to learn about Amazon Web Services, from new services and architecture to performance and operations. Dubai World Trade Center.

May 21-22, Dubai. CryptoExpo Dubai. Billed as the essential event for anyone in the cryptocurrency and blockchain space. Dubai World Trade Center. 

May 23-25, Abu Dhabi. EuroLeague Final Four. The Department of Culture and Tourism – Abu Dhabi, Euroleague Basketball, and Etihad Arena have partnered to host the Turkish Airlines EuroLeague Final Four in the UAE for the first time. Etihad Arena.

May 26-27, Abu Dhabi. Building the Future Summit. This Forbes event serves as an exclusive platform for industry leaders, investors, architects, and innovators to explore the latest trends shaping the future of real estate. Louvre Abu Dhabi.

May 29-30, Tripoli, Libya. Building the Future Summit. A Forbes event that is designed to help delegates from Libya understand their investment opportunities, foster strategic partnerships, and showcase key reforms that will drive economic progress. Venue TBA.

June 12, Dubai. Dubai Family Office Investment Summit. An invitation-only event hosted by Epicon Capital Club, for Family Offices, Serial Entrepreneurs, Private Investors, Fund Managers and Government Entities. Unknown.