TOURISM TOLL

The Gulf’s travel and tourism industry is expected to lose 137,000 jobs this year because of the Iran conflict. Employment across the six GCC countries is forecast to fall 4.3% from 3.2 million in 2025, with Saudi Arabia losing 69,000 jobs and the UAE 46,000, according to the World Travel & Tourism Council. Hotel occupancy across the Middle East fell 19% through July, while revenue per available room dropped 21%. The WTTC expects Middle East travel and tourism activity to contract 14.5% this year, making it the only region in the world forecast to decline.

TAXING TUNES

The UAE will start charging businesses an annual royalty fee to play copyrighted music on their premises, pulling the country into line with international practices. The permit will cover entities including shopping malls, fitness centers, cafes and restaurants, but non-commercial settings like schools and charity events will be exempt. The fees, which will be scaled to business size and type of music used, will be managed by Emirates Music Rights Association and Music Nation, a collective management organization founded and chaired by Rasha Khalifa Al Mubarak. The fees will apply from Dec. 1, with 10% of the funds collected going towards the newly established Cultural Support Fund for Music. 

Mubadala: Emirates Global Aluminium, which is owned by Mubadala and the Investment Corp. of Dubai, plans to spend $400 million to restore its main smelter to pre-war production levels in the first quarter of next year, although shipments will depend on the reopening of the Strait of Hormuz.

Mubadala: The Abu Dhabi sovereign wealth fund has boosted its stake in Abu Dhabi’s Aldar Properties from 27.01% to 28.03% of the company’s issued share capital.

Qatar Investment Authority: Hollywood mogul Ari Emanuel engineered a $6 billion deal to buy U.K.-based ATG Entertainment through his investment firm Mari, backed by the QIA, Apollo Global Management and RedBird Capital.

Qatar National Bank: The QIA-backed lender is seeking a $2 billion syndicated loan to refinance existing debt.

Oman Investment Authority: A French-Omani consortium, including OIA’s OQ energy firm and Paris-based EDF Power Solutions, secured financing for a $130 million wind project in northeastern Oman.

💰 Crypto Capital: Cryptocurrency platform Bitget has launched a $300 million institutional capital program to help build trading institutions across the Middle East and North Africa.

🏦 Raising Cash: Saudi Arabia’s National Building & Marketing Co. renewed a $36 million credit facility with Alinma Bank.

🏠 Prewar Property: Abu Dhabi’s property market has already outperformed all of last year, according to government data, with residential sales values reaching $23.5 billion by mid-August. However, much of the growth came in the first quarter, before the Iran war began on February 28. 

🏘️ Ratings Review: Moody’s Ratings has placed Dubai-based luxury developer Binghatti Holding’s ratings on review for a potential downgrade based on the company’s deteriorating liquidity profile and uncertainty about its ability to generate cash flows amid war-driven uncertainty, The National reports.

⚖️ Ousting Outlaws: Kuwait has warned foreign residents they face deportation if convicted of operating or facilitating unlicensed businesses, under a new law imposing up to five years in prison and fines of as much as $330,000.

🛢️ Back in Business: Saudi offshore drilling contractor ADES Holding has received resumption notices for all temporarily suspended offshore rigs in the kingdom, as operations recover amid regional conflict.

UAE President Sheikh Mohamed bin Zayed met businessman Yusuff Ali, Chairman of LuLu Group International, and a number of employees during a visit to a shopping center in Abu Dhabi.

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, held a phone call with Hakan Fidan, Turkey’s Foreign Minister, on Tuesday.

Jasem Albudaiwi, Secretary-General of the Gulf Cooperation Council, received Dr. Badr Abdelatty, Egypt’s Minister of Foreign Affairs, Emigration and Egyptian Expatriates, on Tuesday in El Alamein, Egypt.

Dr. Samir bin Abdulaziz Altubayyeb, Adviser to the Saudi Ministry of Defense and CEO of the Ministry of Defense Transformation Program, led a Saudi delegation to the U.K. Defense Academy and the U.S. National Defense University.

Cristiano Ronaldo, the Portuguese soccer star who plays for Saudi club Al-Nassr, married his long-term partner Georgina Rodriguez in a civil and ⁠private ceremony ​in ⁠Cascais, ‌Portugal.

Jonathan Seal, CEO of the Sharjah-based Arada’s U.K. arm, met with government officials at Downing Street and proposed a plan to accelerate homebuilding that includes eased lending procedures for first-time buyers, stamp duty reforms, and simplified planning rules.

Turki Al-Sheikh, the Saudi Arabian boxing power broker, backed out of a deal to buy English Championship football club Derby County.

🤼 Comic Return: WWE star and actor John Cena will attend the Middle East Film and Comic Con in Abu Dhabi, which is scheduled for Sept. 11-13 after being postponed in April. Cena joins a lineup of celebrities including Japanese actor Mackenyu, who plays Roronoa Zoro in Netflix’s live-action adaptation of manga hit “One Piece,” The National reports. A multiple-time world champion, Cena is one of the most recognizable figures in professional wrestling.

📷 Photo of the Day

August 18-19, Dubai. Middle East Event Show. Bringing together professionals from the events industry. Dubai World Trade Centre.  

August 28-Sept. 6, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition. An annual event celebrating traditional Emirati heritage and culture. ADNEC Centre.

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

August 31-Sept. 3, Riyadh. LEAP Expo Riyadh. A major tech trade show for the Middle East, which includes a global startup live pitch event. RECC Malham.

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

Sept. 1-3, Doha. Qatar Event Show. Brings together the events industry through a three-day program featuring exhibitions, conferences, workshops and networking opportunities. Doha Exhibition & Convention Center.

Sept. 11-13, 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. ADNEC Centre.  

Sept. 13-18, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC Centre.

Sept. 14-18, Dubai. Arabian Travel Market. The flagship global travel trade show, which was postponed in May, returns, bringing 55,000+ travel professionals, 2,800+ exhibitors and representatives from 166 countries. Dubai World Trade Centre.

Sept. 15-17, Dubai. Arab Media Forum. The region’s largest media gathering, organized by the Dubai Press Club. Dubai World Trade Centre.

Sept. 17-19, Abu Dhabi. International Real Estate & Investment Show 2026. An event targeting investors and consumers rather than trade visitors. ADNEC Centre.

Sept. 20, New York. Qatar Economic Forum, Powered by Bloomberg: UNGA Special Edition 2026. The forum will host a special leadership gathering alongside the 2026 UNGA in New York, bringing together global leaders to explore capital, risk and resilience in a volatile global economy.

Sept. 28-Oct. 1, Singapore. SuperReturn Asia. The region’s premier private capital gathering. Marina Bay Sands Convention Centre.

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. ADNEC Centre.

Oct. 7-9, Singapore. Milken Institute Asia Summit. Bringing together a global community of influential leaders shaping the next era of intelligence, collaboration and growth. Four Seasons Hotel.

Oct. 21-24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center. 

OIL SPILL

Oman is dealing with an oil slick covering about 390 square kilometres after the tanker Caroline Bezengi, which was carrying about 1 million barrels of Russian Urals crude, ran aground off the Hallaniyat Islands. The vessel appears to have been stranded for about seven weeks and had previously been sanctioned by the U.K. and EU, Bloomberg reports. The slick is spreading north and northeast, with the nearest point about 7km from the shoreline, threatening coral reefs, fish, turtles, dolphins and whales in the area. Authorities are using aerial surveillance, satellite imagery and subsea inspections to contain the spill, secure the vessel and transfer its remaining cargo.

POSH SCHOOLS

Dubai’s private-school market is expanding its “super-premium” tier as wealthy families seek traditional British education, with new schools continuing to open despite regional tensions. Taaleem’s Harrow Dubai will open on Aug. 31 with fees of $21,800 to $34,853. “Five years ago, there was a huge surge in mid-market schools. Super-premium is not something that’s been particularly developed, and in the last three years, it’s certainly been a focus for education providers,” Simon O’Connor, Headmaster of Harrow Dubai, told Arabian Gulf Business Insight. The school will initially enroll more than 375 pupils representing over 50 nationalities and replicate the independent school model of its U.K. namesake. Queen Elizabeth’s School Dubai Sports City will also open Aug. 31, charging up to $37,196 for Years 7 and 8 and offering facilities including a 400-meter athletics track and a football programme with the Real Madrid Foundation.

Saudi Aramco: The state-owned oil giant has delayed the restart of its 400,000-barrel-a-day Jazan refinery to Aug. 30 after a weekend attack caused a fire at the facility.

G42: Space42, a G42 company, signed a $7 million deal with South Korea’s Autonomous A2Z to deploy Level-4 autonomous vehicles in the UAE.

Public Investment Fund: PIF Governor Yasir Al-Rumayyan was seen alongside U.S. President Donald Trump ahead of the final round of LIV Golf’s event at the Trump National Bedminster on Sunday. It comes as the struggling league said last week that it had secured a lead investor, reported to be British investment firm BC Partners, after the PIF said in April that it would pull funding.

🛎️ Luxury Fund: Sports Boulevard Real Estate Development and Investment Co. has partnered with Rikaz Properties to launch a $186 million fund to develop a five-star hotel in Riyadh’s Hittin district.

💰 Pulling Cash: Foreign investors reduced their exposure to GCC equities, withdrawing a net $415 million from regional markets in July as the Iran conflict escalated again.

✈️ Jet Deal: Dubai Aerospace Enterprise will buy four Boeing 777F freighters and lease them to Saudia, with deliveries scheduled from October 2026 to May 2027 to support the Saudi carrier’s expanding cargo network.

👍 Thumbs Up: Oman and Emirates Investment Holding Co. will submit a non-binding expression of interest to acquire Muscat-based investment banking and financial services firm Fincorp, in which it already holds a 51.2% interest.

🔎 Chain Research: NYU Abu Dhabi has secured a renewed six-year grant from Ripple’s University Blockchain Research Initiative to advance research into how blockchain can improve market efficiency, trade and inclusive economic growth.

🛢️ Pipe Dream: Egypt and Libya are nearing the launch of a $1 billion-plus project to build an 800-kilometer oil pipeline linking Tobruk to Alexandria to transport Libyan crude to Egyptian refineries.

💾 Backup Plan: Dubai banks are spending millions to back up data overseas amid continued disruptions to Amazon Web Services in the UAE following damage to its data centers from Iranian strikes in March, The Banker reports. 

🏖️ Beach Days: The construction of a 550-meter beachfront has been completed at the Wynn Al Marjan casino resort in the UAE emirate of Ras Al Khaimah, The National reports.

⚖️ Tax Relief: Entrepreneurs have welcomed a move by the UAE to extend corporate tax relief for small businesses with annual revenue of up to Dh3m ($810,000) until 2029.

Saudi Arabia’s Crown Prince Mohammed bin Salman held a phone call with Ukrainian President Volodymyr Zelensky on Monday, during which Zelensky congratulated the Crown Prince on the signing of a regional defense agreement between Saudi Arabia, Turkey and Pakistan last week.

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, shared an image on social media on Monday of himself with three of his grandsons in London. 

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, held a phone call with Anita Anand, Canada’s Foreign Minister, on Monday.

Sheikh Shakhboot bin Nahyan, UAE Minister of State, met with Zimbabwe’s President Emmerson Mnangagwa in Harare on Monday. 

Fahad Al Mheiri, Boeing’s Vice President for the Middle East, Gulf and North Africa, told The National that Gulf airlines remain committed to their Boeing orders and deliveries despite the Iran war, citing long-term growth prospects and resilient aviation hubs.

Gautam Adani, Chairman of Adani Group, has had charges of conspiracy and securities and wire fraud against him dismissed by a U.S. district judge, ending a major case that threatened his conglomerate’s expansion plans. Adani Group reportedly secured a loan of about $800 million to help fund its push into data centers from a group of overseas lenders following the court decision.

Todd Boehley, Chairman and CEO of asset manager Eldridge Industries, is rolling out AI across companies ranging from Chelsea Football Club to film studio A24, after acquiring a 50% stake in European AI company Sudolabs, the Financial Times reports.

Yasemin Bedir was appointed as President of Mastercard’s Eastern Europe, Middle East and Africa region.

🧺 Honing Craft: A new museum in the UAE emirate of Sharjah will be the first in the region dedicated to contemporary crafts. The Irthi Museum, to be launched by the Irthi Contemporary Crafts Council in the Sharjah Creative Quarter, will hold exhibitions and collections as well as focusing on research, education and design, The National reports. “The Irthi Museum stands as a living bridge between heritage techniques and contemporary expressions,” Reem BinKaram, director-general of Irthi Contemporary Crafts Council, said.

📷 Photo of the Day

August 18-19, Dubai. Middle East Event Show. Bringing together professionals from the events industry. Dubai World Trade Centre.  

August 28-Sept. 6, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition. An annual event celebrating traditional Emirati heritage and culture. ADNEC Centre.

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

August 31-Sept. 3, Riyadh. LEAP Expo Riyadh. A major tech trade show for the Middle East, which includes a global startup live pitch event. RECC Malham.

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

Sept. 1-3, Doha. Qatar Event Show. Brings together the events industry through a three-day program featuring exhibitions, conferences, workshops and networking opportunities. Doha Exhibition & Convention Center.

Sept. 11-13, 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. ADNEC Centre.  

Sept. 13-18, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC Centre.

Sept. 14-18, Dubai. Arabian Travel Market. The flagship global travel trade show, which was postponed in May, returns, bringing 55,000+ travel professionals, 2,800+ exhibitors and representatives from 166 countries. Dubai World Trade Centre.

Sept. 15-17, Dubai. Arab Media Forum. The region’s largest media gathering, organized by the Dubai Press Club. Dubai World Trade Centre.

Sept. 17-19, Abu Dhabi. International Real Estate & Investment Show 2026. An event targeting investors and consumers rather than trade visitors. ADNEC Centre.

Sept. 20, New York. Qatar Economic Forum, Powered by Bloomberg: UNGA Special Edition 2026. The forum will host a special leadership gathering alongside the 2026 UNGA in New York, bringing together global leaders to explore capital, risk and resilience in a volatile global economy.

Sept. 28-Oct. 1, Singapore. SuperReturn Asia. The region’s premier private capital gathering. Marina Bay Sands Convention Centre.

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. ADNEC Centre.

Oct. 7-9, Singapore. Milken Institute Asia Summit. Bringing together a global community of influential leaders shaping the next era of intelligence, collaboration and growth. Four Seasons Hotel.

Oct. 21-24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center. 

GRACE PERIOD

The UAE has activated emergency bankruptcy protections for businesses whose financial distress can be directly linked to the Iran war, temporarily shielding them from creditor-led insolvency proceedings and giving them more time to restructure. The measures apply to companies seeking court protection after Feb. 28, when hostilities escalated, and allow them to negotiate with lenders and suppliers without having to file for bankruptcy due to temporary payment difficulties. Courts can also allow existing management to remain in control, permit companies to continue paying staff and approve new funding while restructuring talks are underway. The rules are designed to prevent otherwise viable businesses from failing due to short-term cash-flow problems and to encourage creditors and debtors to reach restructuring agreements.

AI FACTORIES

Saudi Arabia’s data centers are evolving into “AI factories” as companies accelerate adoption of generative and agentic AI, a senior Nvidia executive says. “We’re witnessing one of the most significant infrastructure transformations since the advent of cloud computing. For decades, data centers were built to process, store and distribute information. Today, they are evolving into AI factories — purpose-built infrastructure that generates intelligence at scale,” Marc Domenech, Nvidia’s Vice President of Enterprise for the Middle East, Turkey, and Africa and Southern Europe, told Arab News. The Kingdom has invested more than $4.26 billion in data centers since 2016, according to the Ministry of Communications and Information Technology. 

Public Investment Fund: PIF-backed Saudi mining company Maaden said its project pipeline remains strong, with phase one of its Phosphate 3 development to start operations by the end of this year and first gold at its newest gold mine, Ar Rjum, forecast for the end of 2028, Arabian Gulf Business Insight reports. Maaden reported a 16% year-on-year growth in quarterly revenue, driven by higher commodity prices, with aluminium delivering its best-ever financial performance.

PIF: Paramount Skydance has agreed to sign contracts with major theater chains guaranteeing that it will release 30 movies a year in cinemas as part of its efforts to secure its $110 billion Gulf-backed merger with Warner Bros. Discovery, Bloomberg reports. The PIF, the Qatar Investment Authority and Abu Dhabi’s L’Imad Holding are all backing the deal.

HUMAIN: Saudi AI startup MOZN received a strategic investment from PIF-backed HUMAIN, coupled with a partnership to build sovereign AI solutions for financial institutions and public-sector organizations.

Abu Dhabi Investment Authority: ADIA has committed $5.7 million as an anchor investor in Indian auto-parts maker Dhoot Transmission’s $322 million IPO, which opens today.

Madayn: Oman’s Sohar Industrial City, operated by government-owned Madayn, secured more than $557 million in investments in the first half of 2026 via 39 agreements.

🛡️ Financial Security: The World Bank approved a $100 million grant to help Syria modernize its financial sector, improve payment security and efficiency, strengthen financial integrity and expand access to financial services.

🤖 AI Bid: Israeli AI startup Decart is in advanced talks to be acquired by a major international technology company for as much as $7 billion, with SpaceX, Amazon and Nebius believed to be among those interested.

☀️ Solar Capacity: Saudi Arabia’s Mohammed Al-Harfi Co. and the Syrian Electricity Company have signed three power purchase agreements to develop solar projects near Damascus with a combined capacity of 760MW and 1,077MWh of battery storage.

💊 Healthy Finances: Dubai-based longevity health-tech company Longevium raised $7 million in its first funding round to develop an AI-powered longevity research laboratory at Dubai Science Park.

🌱 Startup Recovery: MENA startups raised $172.6 million across 45 deals in July, up 16% from the previous month, led by Saudi Arabia with $106.6 million, followed by the UAE with $46.6 million.

🔥 Fire Down: Saudi Arabia extinguished a fire at its Jazan oil refinery, hours before Yemen’s Houthi militants claimed responsibility for an attack on the facility.

📦 Shipping Reshape: Jebel Ali’s role as the Gulf’s largest container port faces uncertainty as shipping lines are forced to reroute because of threats in the Strait of Hormuz, Maritime analysts say.

✈️ Near Miss: An air safety investigation is underway in Australia after a Jetstar A320 and Qatar Airways 777 came within meters of colliding on the tarmac at Sydney Airport, the second near miss there in two weeks.

🏦 Evading Sanctions: Iran-linked crypto exchange Shelbit processed more than $6.3 billion in transactions between May 2024 and March 2026, before being sanctioned by the U.S., according to blockchain analytics firm TRM Labs.

🏛️ Charm Offensive: The way the UAE has won over Washington over the past two decades is seen as the ultimate case study in how to run a government public relations campaign in D.C., the Financial Times reports.

UAE President Sheikh Mohamed bin Zayed held a phone call with Russian President Vladimir Putin on Friday.

Emir of Qatar Sheikh Tamim bin Hamad Al-Thani met with Oman’s Sultan Haitham bin Tariq in Doha on Sunday.

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, received a phone call from Sheikh Jarrah Jaber Al-Ahmad Al-Sabah, his Kuwaiti counterpart, on Sunday.

Hussain Sajwani, Founder of Dubai-based Damac Properties, met with Michael Dell, Chairman & CEO of Dell Technologies, last week.

Abdullah bin Sultan bin Awad, UAE Minister of Justice, held a phone call with Jim O’Callaghan, Ireland’s Minister for Justice, Home Affairs and Migration, to discuss the extradition of the alleged organized crime boss Daniel Kinahan to Ireland on Sunday. 

Reem Al Hashimy, UAE Minister of State for International Cooperation, attended the inauguration ceremony of Abelardo de la Espriella, President of Colombia.

Frank McCourt, the American billionaire and former owner of the Los Angeles Dodgers, is committing $300 million to a new horse showjumping league that promises to transform the sport, which is heavily linked to Gulf royalty, into a franchised global league. 

Dario Amodei, CEO of Anthropic, flew to Florida to visit Jared Kushner and his wife, Ivanka Trump, not long after his standoff with the Trump administration over Anthropic refusing a Defense Department requirement to permit “all lawful uses” of the company’s AI, The Information reports.

🎷 Jazzing it Up: Saudi musicians will be given opportunities to train and work alongside international artists through a partnership between Jazz in Jeddah and the Saudi Music Commission, Arab News reports. Jazz in Jeddah is a platform and festival organized by cultural initiative Call of Culture. It stages events in historic Jeddah, blending jazz with Saudi musical heritage.

📷 Photo of the Day

August 18-19, Dubai. Middle East Event Show. Bringing together professionals from the events industry. Dubai World Trade Centre.  

August 28-Sept. 6, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition. An annual event celebrating traditional Emirati heritage and culture. ADNEC Centre.

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

August 31-Sept. 3, Riyadh. LEAP Expo Riyadh. A major tech trade show for the Middle East, which includes a global startup live pitch event. RECC Malham.

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

Sept. 1-3, Doha. Qatar Event Show. Brings together the events industry through a three-day program featuring exhibitions, conferences, workshops and networking opportunities. Doha Exhibition & Convention Center.

Sept. 11-13, 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. ADNEC Centre.  

Sept. 13-18, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC Centre.

Sept. 14-18, Dubai. Arabian Travel Market. The flagship global travel trade show, which was postponed in May, returns, bringing 55,000+ travel professionals, 2,800+ exhibitors and representatives from 166 countries. Dubai World Trade Centre.

Sept. 15-17, Dubai. Arab Media Forum. The region’s largest media gathering, organized by the Dubai Press Club. Dubai World Trade Centre.

Sept. 17-19, Abu Dhabi. International Real Estate & Investment Show 2026. An event targeting investors and consumers rather than trade visitors. ADNEC Centre.

Sept. 20, New York. Qatar Economic Forum, Powered by Bloomberg: UNGA Special Edition 2026. The forum will host a special leadership gathering alongside the 2026 UNGA in New York, bringing together global leaders to explore capital, risk and resilience in a volatile global economy.

Sept. 28-Oct. 1, Singapore. SuperReturn Asia. The region’s premier private capital gathering. Marina Bay Sands Convention Centre.

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. ADNEC Centre.

Oct. 7-9, Singapore. Milken Institute Asia Summit. Bringing together a global community of influential leaders shaping the next era of intelligence, collaboration and growth. Four Seasons Hotel.

Oct. 21-24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center. 

SHIP SHAPE

Abu Dhabi’s national oil company ADNOC is spending $1.3 billion to bolster its fleet of tankers as it continues to ramp up Gulf exports despite threats to shipping in the Strait of Hormuz. ADNOC Logistics & Services bought six very large crude carriers, almost doubling its current fleet of eight, as well as five very large gas carriers. ADNOC has been using tactics including shipping under darkness with transponders switched off and military escorts to shuttle crude and other refined products out of the Gulf. Using its own vessels gives the company greater freedom to make these riskier voyages, as it takes a more assertive and expansive stance following its departure from OPEC. The UAE has also been increasing oil shipments from the eastern emirate of Fujairah, which sits outside the Strait, via a cross-country pipeline. ADNOC L&S will take delivery of the vessels this quarter.

TALL ORDER

The construction of Jeddah Tower has topped 100 floors, with planned completion on track for 2028, according to Saudi Arabia’s Kingdom Holding Co. The tower, which is designed to surpass Dubai’s Burj Khalifa as the world’s tallest building, has reached level 106, or about 430 meters. The project will feature luxury residences, offices, a hotel and the highest observation deck in a skyscraper. Kingdom Holding, which is controlled by Saudi billionaire Prince Alwaleed bin Talal, gave the update while reporting first-half earnings. The company reported a 38% decline year-on-year in first-half net profit to $160 million, citing lower dividend income, higher costs and increased taxes. Net asset value rose 15% driven by a 62% increase in the value of the company’s stake in SpaceX following its IPO on the Nasdaq. 

DP World: DP World has agreed to acquire six U.K. grocery logistics sites from GXO Logistics, expanding its European footprint and strengthening its end-to-end supply chain services.

QatarEnergy: ConocoPhillips said delays to its Qatar LNG project – in which it is a partner with QatarEnergy – are expected to last months rather than a year, with no impact on free cash flow anticipated despite disruptions caused by the U.S.-Iran war.

Public Investment Fund: The U.K.’s antitrust watchdog has given the all-clear to Paramount Skydance’s Gulf-backed $110 billion merger with Warner Bros. Discovery, saying the takeover doesn’t raise any competition concerns in Britain. The PIF, the Qatar Investment Authority and Abu Dhabi’s L’Imad Holding are all backing the deal, which faces legal challenges in the U.S.

⚽ Sponsorship Deal: Arsenal has extended its long-running partnership with Emirates until 2033, with the airline continuing as the soccer club’s shirt sponsor, training kit partner and stadium naming rights holder.

🌙 Faithful Finance: Global Islamic finance assets are expected to reach $9.6 trillion by 2030, up from $6.2 trillion in 2025, according to Standard Chartered.

📦 Top Export: Egypt’s exports to China have jumped in recent months to $8 billion, driven by investment inflows from Chinese companies into industrial projects.

🔴 No Entry: Iran is reportedly seeking to restrict U.S. and Israeli vessels from transiting the Strait of Hormuz under a proposed deal with Oman, potentially complicating efforts to restore normal energy flows, Bloomberg reports.

✈️ Flying Back: Etihad Airways and Qatar Airways will resume daily flights to Bahrain and Kuwait from Aug. 8, with Qatar also restoring service to Erbil after weeks of disruption due to regional tensions.

💰 Seeking Alternatives: Saudi property developers are increasingly using private real estate funds to finance new projects, as regulatory reforms and Vision 2030 drive demand for alternative funding.

💼 Power Team: Forbes has released its annual Top 100 CEOs list for the Middle East, highlighting the executives driving growth, innovation and transformation across the region’s most influential organizations.

UAE President Sheikh Mohamed bin Zayed and UAE Vice President and Ruler of Dubai Sheikh Mohmed bin Rashid were seen meeting in London on an unofficial visit.

Saudi Crown Prince Mohamed bin Salman held a phone call with French President Emmanuel Macron on Thursday.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, toured Abu Dhabi’s  floating hospital on Thursday.

Ahmed Alkhoshaibi, CEO of Sharjah-based developer Arada, told Arabian Gulf Business Insight that supply chain disruptions, construction delays and lower-margin acquisitions weighed on first-half performance, but the company expects sales to recover in the second half.

Davis Parakal, CEO of money transfer company Remitly for the GCC, told Arabian Gulf Business Insight that the company  plans to launch in Saudi Arabia within a year.

Khaled Alshamlan, CEO of Kuwait Finance House, said in an interview with Forbes Middle East that the group has strengthened its position as a global Islamic finance leader, with the sector’s assets surpassing $4.4 trillion in 2025, while KFH drives growth through its dominant market share, expanding sukuk portfolio and international investment strategy.

Feras Al Jarmani has been appointed to lead HSBC Private Bank’s UAE Market.

🎨 Hidden Treasure: The son of pioneering Saudi artist Abdulsattar Al-Mussa has unearthed a previously unknown artwork by his late father hidden in storage, Arab News reports. The painting, believed to date back to 1979, features a woman washing another woman’s feet. One of the most significant Gulf artists of his generation, Al-Mussa was known for figurative work focusing on the daily lives of Saudi people. The painting was created in Moscow, where the artist trained and lived for much of his life. “My mom actually remembers the painting, because she saw him working on it. But then it disappeared and he never talked about it, and we never saw it. I don’t know why,” his son Ali Al-Mussa said. 

📷 Photo of the Day

August 18-19, Dubai. Middle East Event Show. Bringing together professionals from the events industry. Dubai World Trade Centre.  

August 28-Sept. 6, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition. An annual event celebrating traditional Emirati heritage and culture. ADNEC Centre.

August 30-Sept. 2, Riyadh. Big 5 Construct. The event connects construction industry stakeholders with suppliers in Saudi Arabia. Riyadh Front Exhibition & Conference Center.

August 31-Sept. 3, Riyadh. LEAP Expo Riyadh. A major tech trade show for the Middle East, which includes a global startup live pitch event. RECC Malham.

Sept. 1-3, Dubai. Middle East Energy.  A three-day energy exhibition in Dubai brings together utilities, developers, manufacturers and industry professionals. Dubai World Trade Centre.  

Sept. 1-3, Doha. Qatar Event Show. Brings together the events industry through a three-day program featuring exhibitions, conferences, workshops and networking opportunities. Doha Exhibition & Convention Center.

Sept. 11-13, 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. ADNEC Centre.  

Sept. 13-18, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC Centre.

Sept. 14-18, Dubai. Arabian Travel Market. The flagship global travel trade show, which was postponed in May, returns, bringing 55,000+ travel professionals, 2,800+ exhibitors and representatives from 166 countries. Dubai World Trade Centre.

Sept. 15-17, Dubai. Arab Media Forum. The region’s largest media gathering, organized by the Dubai Press Club. Dubai World Trade Centre.

Sept. 17-19, Abu Dhabi. International Real Estate & Investment Show 2026. An event targeting investors and consumers rather than trade visitors. ADNEC Centre.

Sept. 20, New York. Qatar Economic Forum, Powered by Bloomberg: UNGA Special Edition 2026. The forum will host a special leadership gathering alongside the 2026 UNGA in New York, bringing together global leaders to explore capital, risk and resilience in a volatile global economy.

Sept. 28-Oct. 1, Singapore. SuperReturn Asia. The region’s premier private capital gathering. Marina Bay Sands Convention Centre.

Sept. 29-Oct. 1, Abu Dhabi. LIVEX 2026. Abu Dhabi’s inaugural Livability and Investment Exhibition. ADNEC Centre.

Oct. 7-9, Singapore. Milken Institute Asia Summit. Bringing together a global community of influential leaders shaping the next era of intelligence, collaboration and growth. Four Seasons Hotel.

Oct. 21-24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 26-29, Riyadh. Future Investment Initiative Tenth Edition 2026. Saudi Arabia’s keystone annual business conference, sponsored by the Public Investment Fund. King Abdulaziz International Convention Center.