EMERGENCY LANDING

A flydubai flight from Dubai to Tel Aviv made an emergency landing in Saudi Arabia’s Tabuk airport on Wednesday after issuing a distress call. Both pilots were injured and taken to a nearby hospital, The National reports, while Reuters, citing two Israeli officials, said the incident may have been an attempted terrorist attack. The officials said the co-pilot was believed to have stabbed the captain before cabin crew entered the cockpit and took control of the aircraft. Flydubai said the plane landed safely, all passengers were accounted for, and it was working with Saudi authorities.

BYPASS BILLIONS

Abu Dhabi’s newest sovereign wealth fund has become central to the UAE’s “Zero Hormuz” strategy, a plan to bypass the troubled waterway that is evolving into one of the world’s largest infrastructure efforts. As part of that plan, L’Imad Holding, overseen by Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed, has been buying out minority shareholders in AD Ports Group through its subsidiary ADQ. The fund is now preparing to spend tens of billions of dollars more on new port infrastructure outside the strait, Bloomberg reports. The effort makes Sheikh Khaled and the powerbrokers surrounding him crucial to both Washington and Wall Street, the news agency reports, citing discussions between the Crown Prince, L’Imad CEO Jassem Bu Ataba Al Zaabi and finance bosses including BlackRock’s Larry Fink.

L’Imad Holding: Modon Holding, majority-owned by the Abu Dhabi sovereign wealth fund, awarded a $230 million contract to Innovo Build and RedCon Construction for infrastructure and construction works at Wadi Yemm, part of Egypt’s $35 billion Ras El Hekma development.

Investment Corp. of Dubai: Emirates NBD Capital is among the book-running lead managers on the $1 billion IPO of Indian renewable energy company Inox Clean Energy.

Oman Investment Authority: OQ, Oman’s state energy company, plans to double onshore oil storage at Duqm to 10 million barrels within three years and is considering acquiring two supertankers for floating storage as Gulf producers seek alternatives to the Strait of Hormuz, Bloomberg reports.

Qatar Investment Authority: Qatar raised $3 billion through a bond sale coordinated by QIA-backed QNB Capital and other international banks.

Temasek: Singapore sovereign investor Temasek plans to expand its Middle East presence with new offices in the UAE and Saudi Arabia in 2027.

💱 Renewed Swap: The UAE and Egypt renewed their $1.4 billion currency swap agreement for five years to support bilateral trade, investment and financial cooperation.

🏢 Local Development: Abu Dhabi developer Aldar and Sharjah-based Arada are partnering on $4 billion of residential and mixed-use projects on Yas Island and at Seih Sdeirah in Abu Dhabi.

💰 Cautious Investment: Gulf sovereign wealth funds have invested more than $30 billion in India, but family offices remain cautious amid the Iran war and competition from elsewhere in Asia, Arabian Gulf Business Insight reports.

🚕 Robotaxi Fleet: China’s Momenta is entering the UAE’s growing market for driverless taxis, testing in Abu Dhabi before expanding to Dubai.

⚽ City Sanctions: The English Premier League said an independent commission has found that Abu Dhabi-owned Manchester City inflated its financial results through sham sponsorship deals. The club plans to appeal.

🏨 Deposit Drama: Saudi businessman Motasem Khashoggi’s deal to buy New York’s Pierre Hotel hinges on shareholder approval and a $100 million deposit, which has not materialized, Vanity Fair reports. Mark Zuckerberg, Michael Dell and Morocco’s King Mohammed VI were also reportedly approached to purchase the hotel.

🚪 New Office: London-based Pantheon has opened its first Abu Dhabi office in ADGM as the $84 billion private markets firm expands in the Middle East.

🤖 AI Risk: Saudi Arabia introduced a national framework to help government agencies and companies identify and manage AI risks, Arab News reports.

UAE President Sheikh Mohamed bin Zayed met with Hakainde Hichilema, President of Zambia, who is on a working visit to the UAE.

Sheikh Mansour bin Zayed, the UAE Vice President, met in Riyadh on Tuesday with Saudi Crown Prince Mohammed bin Salman and Crown Prince Khalid bin Salman, the Minister of Defense, in the first senior Emirati visit since a rift developed between the countries last year.

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, has announced the formation of the Board of Directors of the Investment Corporation of Dubai, which will be chaired by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai. 

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, met with Tom Cotton, Chairman of the U.S. Senate Select Committee on Intelligence, and Roger Wicker, Chairman of the Senate Armed Services Committee, in Washington on Tuesday.

Steve Davis, President of U.S.-based The Boring Company, met with Dubai’s Crown Prince Hamdan bin Mohammed on Tuesday.

Fatima Ezzahra El Mansouri, the Mayor of Marrakech, has been asked by Morocco’s King Mohammed VI to form a new government and become the country’s first female prime minister, after her party came out on top in parliamentary elections last week.

Edward Bell is leaving Emirates NBD, where he was Chief Economist, for Mitsubishi UFJ Financial Group, where he will head the Japanese bank’s research for the Middle East and North Africa.

🎤 Culture Capital: Deadpool star Ryan Reynolds praised the way Abu Dhabi has developed its arts and culture scene. Speaking at the Abu Dhabi livability expo LiveX on Tuesday, the Canadian actor said the emirate had “done very, very well” in building its artistic sector, The National reports. “I think of communities that function and thrive, and it’s usually because they have a very healthy sense of self,” he said. “They have an identity, a strong pride in what they are and something that they believe in.”

📷 Photo of the Day

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

Sept. 29-Oct. 1, Dubai. Future Hospitality Summit. Exploring key trends in hotel development, sustainability, innovation and entrepreneurship. Madinat Jumeirah. 

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

Sept. 29-Oct. 1, Dubai. GoTech. Energy industry leaders, startups and technology experts explore innovation, AI, sustainability and emerging technologies shaping the future of energy. Dubai World Trade Centre.

Oct. 6-7, Abu Dhabi. Ai Everything. The AI forum brings together policymakers, innovators and business leaders. 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. 12-14, Dubai. The Airport Show. Exploring innovations in sustainability, digitalization, security and passenger experience, alongside several major industry forums. Dubai World Trade Centre. 

Oct. 13-15, Dubai. SuperReturn Middle East. Exploring fundraising, private credit, family offices, infrastructure, AI, venture capital and shifting investment opportunities across the region. Ritz-Carlton, DIFC.

Oct. 21, Abu Dhabi. Reuters NEXT Gulf. Exploring the Gulf’s growing global influence across AI, finance, energy, trade and geopolitics. St. Regis Saadiyat Island Resort.

Oct. 21, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 22-26, Dubai. Dubai Fashion Week. Dubai’s official fashion platform, bringing together regional and international designers, buyers and industry leaders for runway shows, collection launches and events. Dubai Design District.

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

DISCOUNT CRUDE

Saudi Aramco, the world’s biggest oil exporter, is considering discounts on crude transferred between ships off Oman to offset soaring freight costs and win back Asian buyers.  The discount under discussion is about $9 a barrel, one source told Reuters, though no decision has been announced. The shipments would load in the second half of October outside the Strait of Hormuz, where the Iran war has disrupted oil traffic. Aramco expects that lower prices can help it win back sales as the UAE’s ADNOC expands exports through terminals outside the strait.

DUBAI DEBUT

Etihad Rail will begin passenger service from Dubai tomorrow, connecting the city’s Al Yalayis station with Abu Dhabi and Fujairah. The Dubai-Abu Dhabi journey will take about 64 minutes, with fares starting at 39 dirhams ($10.60) for comfort class and 109 dirhams for premium seats. The debut comes three months after the launch of the UAE’s first passenger line between Abu Dhabi and Fujairah, with the Dubai station primed to serve as a key commuter route link to the capital. UAE President Sheikh Mohamed bin Zayed and Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Minister of Defense, attended the official opening of the Dubai station on Monday.

Saudi Aramco: The world’s biggest oil exporter is discussing discounts on crude transferred between ships off Oman to offset soaring freight costs and win back Asian buyers, Reuters reports.

L’Imad Holding: The Abu Dhabi sovereign fund is shaping one of its units, L’Imad Capital, into a global investment vehicle to back private equity and other funds before seeking out third-party capital, Bloomberg reports. 

Mubadala: The Abu Dhabi sovereign wealth fund and Together AI have formed a strategic partnership that will see the U.S. AI cloud computing platform establish an Abu Dhabi presence, following Mubadala’s $100 million investment in its $800 million Series C round.

Mubadala: The fund is reported to be seeking an exit from India’s Cube Highways Trust through a $71.7 million secondary sale of its 3.4% stake.

Public Investment Fund: PIF-backed Rua AlHaram AlMakki and Malaysia’s MRCB are proposing to build a $5.6 billion mixed-use development within Mecca’s King Salman Gate project.

Abu Dhabi Investment Authority: An ADIA unit is participating as an investor in the $2.34 billion buyout of Canada’s Slate Grocery REIT by U.S.-based firms Brixmor Property Group and Everview Partners.

QatarEnergy: The state-owned company extended its suspension of LNG deliveries to Italy’s Edison until early December and to some Asian customers, as the Strait of Hormuz remains closed, Reuters reports.

Kuwait Investment Authority: Samsung Electronics and its affiliates will invest $1 billion in KKR-backed Helix Digital Infrastructure, in which the KIA is a founding member.

✈️ Plane Shopping: Qatar’s Lesha Bank has agreed to acquire 33 leased commercial aircraft from Avolon.

🖥️ Taking Over: U.S.-based AI platform Replit has acquired Egypt-founded business analytics startup Atta.

⛏️ Mining Acquisition: Germany’s Knauf plans to acquire the remaining shares in Saudi Arabia’s United Mining Industries for about $78 million, potentially delisting the company from the Nomu Parallel Market.

💊 Health Care: Swiss healthcare group Clinique La Prairie plans to open longevity and wellness centers in Riyadh and Jeddah after launching its Amaala resort next year.

🛢️ Pipeline Returns: Saudi Arabia has restored flows through its East-West oil pipeline to at least 3.5 million barrels a day, about half its capacity, and tankers have resumed loading at Red Sea ports after drone strikes halted the route earlier this month, Bloomberg reports.

🏦 Chinese Arrival: Beijing-based China Securities has opened a regional office in Dubai International Financial Centre, joining a growing group of Chinese banks and investment firms operating in the UAE.

👨‍💻 Fintech Expansion: Dubai-based Airtel Money is seeking Middle East fintech partnerships to expand in Africa and is open to a potential UAE dual listing after completing its planned London IPO, CEO Ian Ferrao told The National.

UAE President Sheikh Mohamed bin Zayed received Hakan Fidan, Turkey’s Minister of Foreign Affairs, in Abu Dhabi on Monday.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, will visit Saudi Arabia on Tuesday at the invitation of Prince Khalid bin Salman, Saudi Arabia’s Minister of Defense.

Sheikh Abdullah bin Zayed, UAE Foreign Minister, met separately in New York with a number of foreign ministers participating in the United Nations General Assembly on Monday, including Greece’s Foreign Minister George Gerapetritis and Singapore’s Foreign Minister Dr. Vivian Balakrishnan.

Sheikh Hamdan bin Zayed, Ruler’s Representative in Al Dhafra Region and Chairman of the Board of Directors of Environment Agency – Abu Dhabi, chaired the agency’s third board meeting of 2026.

Mohammad Yisr Barnieh, Syria’s Finance Minister, took part in the Arab Monetary Fund’s Golden Jubilee in Abu Dhabi on Monday.

Dr. Hamad Saif Al Shamsi, UAE Attorney General, discussed strengthening judicial cooperation, exchanging expertise and enhancing coordination on cross-border cases during separate meetings with Stefan Blättler, Attorney General of Switzerland, and Zhumagali Askhat Zhumagaliuly, Deputy Prosecutor General of Kazakhstan, in Abu Dhabi on Monday.

Brett King, the futurist and author, attended the First Abu Dhabi Bank and IMD Competitiveness Summit 2026 in Abu Dhabi on Monday, telling The National that AI agents will make some banking roles obsolete in the coming years.

🎨 Art Agenda: Frieze Abu Dhabi has unveiled the program for its inaugural event, naming Lebanese artist Dala Nasser the first recipient of its Artist Award. Nasser’s new installation inspired by a historic monument near Baalbek will be the centerpiece of the program, The National reports. An exhibition of works by Emirati artists Mohammed Kazem and Alia Zaal is also among the highlights of the art fair, which will take place at Manarat Al Saadiyat from Nov. 19 to 22. 

📷 Photo of the Day

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

Sept. 29-30, Abu Dhabi. Arab Federation of Capital Markets. Hosted by the Abu Dhabi Securities Exchange, the event brings together executives from Arab stock exchanges, regulators, clearing houses, investment banks, asset managers and international financial institutions. Grand Hyatt Abu Dhabi.

Sept. 29-30, Doha. Qatar Fintech Expo. QFEX 2026 will explore developments in financial markets, artificial intelligence, digital assets, fintech and connectivity. Hilton Doha.

Sept. 29-Oct. 1, Dubai. Future Hospitality Summit. Exploring key trends in hotel development, sustainability, innovation and entrepreneurship. Madinat Jumeirah. 

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

Sept. 29-Oct. 1, Dubai. GoTech. Energy industry leaders, startups and technology experts explore innovation, AI, sustainability and emerging technologies shaping the future of energy. Dubai World Trade Centre.

Sept. 30, Dubai. AWS Summit Dubai. Exploring the latest developments in cloud computing, AI and digital transformation. Dubai World Trade Centre. 

Oct. 6-7, Abu Dhabi. Ai Everything. The AI forum brings together policymakers, innovators and business leaders. 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. 12-14, Dubai. The Airport Show. Exploring innovations in sustainability, digitalization, security and passenger experience, alongside several major industry forums. Dubai World Trade Centre. 

Oct. 13-15, Dubai. SuperReturn Middle East. Exploring fundraising, private credit, family offices, infrastructure, AI, venture capital and shifting investment opportunities across the region. Ritz-Carlton, DIFC.

Oct. 21, Abu Dhabi. Reuters NEXT Gulf. Exploring the Gulf’s growing global influence across AI, finance, energy, trade and geopolitics. St. Regis Saadiyat Island Resort.

Oct. 21, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 22-26, Dubai. Dubai Fashion Week. Dubai’s official fashion platform, bringing together regional and international designers, buyers and industry leaders for runway shows, collection launches and events. Dubai Design District.

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

SEEING DOUBLE

Gems Education is planning to launch artificial intelligence-powered “twins” of its teachers for use in UAE classrooms. Gems, the largest private school provider in the Emirates, has been working with Napster, which rebranded as an AI company last year, to design digital personas that look, sound, and respond like specific staff members, The National reports. “This initiative is designed to extend the reach and impact of teachers, not replace them,” Baz Nijjar, Senior Vice President of Innovation, AI and Futurism at Gems Education, and Managing Director of its Intelligence 360 platform, told the newspaper. The school group sees after-hours homework assistance as the primary use case for the twins and says teachers will not be automatically required to participate. Gems has more than 200,000 pupils across its network.

MAN CITY RESPONDS

Manchester City Chairman Khaldoon Al Mubarak told supporters the football club remains confident it can prove its innocence after reports that an independent panel found it guilty of 114 breaches of Premier League financial rules. “Following Friday’s media reporting, many of you will have spent your evening answering questions and ​responding to messages from friends, family and colleagues. So have I,” Al Mubarak, who is also CEO of the UAE’s Mubadala sovereign wealth fund, wrote in an open letter. “Here’s what I ​said to my family: The Premier League process still has a long way ⁠to run, and our confidence and intent in proving the club’s innocence is just as strong as ​when this began.”

Abu Dhabi Investment Council: ADIC participated in a $3.4 billion convertible fundraising round for London-based AI data center operator Nscale, led by U.S. hedge fund Third Point. Other investors included Nvidia, funds managed by Apollo, Citadel, Hudson Bay Capital and 8090 Industries. 

Saudi Aramco: The world’s biggest oil exporter has hired Evercore to advise on a proposed standalone gas division that could attract investors or eventually be listed at a valuation above $100 billion, Bloomberg reports.

XRG: The international investment arm of ADNOC has backed the expansion of Azerbaijan’s Absheron gas field, which is expected to unlock up to 5 trillion cubic feet of recoverable gas resources.

Abu Dhabi Investment Authority: Shares in India’s Allied Blenders & Distillers rose in Mumbai on Monday, after Bloomberg reported the company was considering options including a potential sale of the business. ADIA bought more than 1.5 million shares last week for $10 million.

International Holding Co.: Royal Development Holding, a subsidiary of IHC-owned Emirates Stallion Group, has awarded the main $215 million contract for Seamont Autograph Collection Residences on Al Reem Island to Abu Dhabi-based Fibrex.

G42: Presight, the Abu Dhabi-based AI company majority-owned by G42, has backed a $100 million Series A round for California-based Maven Robotics, alongside Abu Dhabi-based investment firm Shorooq Partners.

🤠 Texas Homes: Dubai’s Sobha Realty is investing $600 million to build about 700 homes in the Dallas-Fort Worth area as the developer expands its U.S. footprint.

☀️ Solar Financing: Dubai Electricity and Water Authority refinanced the 950MW Noor Energy 1 phase of Dubai’s Mohammed bin Rashid Al Maktoum Solar Park with a $2.7 billion package from international and regional lenders.

🚂 Rail 2.0: Autonomous freight rail company Parallel Systems and Agility’s corporate venture arm have agreed to a strategic collaboration to develop autonomous rail freight systems across the Gulf and wider international markets.

✈️ Fleet Shift: Qatar Airways has retired its last A330 passenger jets and offered some pilots temporary assignments with RwandAir as the Iran war disrupts Gulf flights and drives up fuel costs, Reuters reports.

💰 Domestic Pivot: The Iran war could redirect $50 billion to $100 billion of Gulf capital from overseas investments into domestic markets, according to asset manager BlackRock.

✈️ Red Sea Boost: Jeddah Airports has started phased operations at Terminal 4 this week, gradually transferring foreign airlines from other terminals to increase capacity and streamline passenger traffic.

🚗 Driverless Test: Dubai has launched the Dubai Mobility Labs at Dubai Silicon Oasis to test autonomous vehicles before deployment on the emirate’s roads.

💸 Settling Debt: Egypt has settled nearly 90% of the debt owed to its National Investment Bank, covering EGP299 billion ($6 billion) and helping the state lender return to profit after years of losses.

Prince Faisal bin ‌Farhan, Saudi Arabia’s Foreign Minister, arrived in Washington on Monday ahead of expected talks with U.S. Secretary of State Marco Rubio.

Sheikh Abdullah bin Zayed, UAE Foreign Minister, hosted a Youth Dialogue on the sidelines of the United Nations General Assembly in New York on Sunday.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Minister of Defense, on Sunday set out Dubai’s plans to be a “global center for healthy longevity.”

Egypt’s President Abdel Fattah El-Sisi met with Alberto Calderon, CEO of AngloGold Ashanti, on the sidelines of the opening of the Egypt Mining Forum 2026 in Cairo. Also at the meeting were Egypt’s Prime Minister Moustafa Madbouly, Minister of Petroleum and Mineral Resources Karim Badawi, AngloGold Ashanti’s Chief of Corporate Affairs Stewart Bailey and the President of AngloGold Ashanti Egypt, Hoda Ahmed El-Askalani.

Dr. Sultan Al Jaber, Managing Director and Group CEO of ADNOC and Executive Chairman of XRG, met with J.P. Morgan Chairman and CEO Jamie Dimon.

Fouad Darwish, Vice President of the UAE Chess Federation, has been elected Vice President of the International Chess Federation, becoming one of three vice presidents elected during the FIDE General Assembly in Samarkand, Uzbekistan, held on the sidelines of the World Chess Olympiad.

🚂 On The Map: Residents of Al Dhaid in the UAE emirate of Sharjah are anticipating a new pace of life as the national railway arrives in the tranquil oasis town, traditionally known for its date palms and fruit farms. Etihad Rail will launch a new station at Al Dhaid on Wednesday, bringing tourists and business opportunities to the desert escape, which is known for its centuries-old irrigation systems and a restored historic fort, The National reports.

📷 Photo of the Day

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

Sept. 29-30, Abu Dhabi. Arab Federation of Capital Markets. Hosted by the Abu Dhabi Securities Exchange, the event brings together executives from Arab stock exchanges, regulators, clearing houses, investment banks, asset managers and international financial institutions. Grand Hyatt Abu Dhabi.

Sept. 29-30, Doha. Qatar Fintech Expo. QFEX 2026 will explore developments in financial markets, artificial intelligence, digital assets, fintech and connectivity. Hilton Doha.

Sept. 29-Oct. 1, Dubai. Future Hospitality Summit. Exploring key trends in hotel development, sustainability, innovation and entrepreneurship. Madinat Jumeirah. 

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

Sept. 29-Oct. 1, Dubai. GoTech. Energy industry leaders, startups and technology experts explore innovation, AI, sustainability and emerging technologies shaping the future of energy. Dubai World Trade Centre.

Sept. 30, Dubai. AWS Summit Dubai. Exploring the latest developments in cloud computing, AI and digital transformation. Dubai World Trade Centre. 

Oct. 6-7, Abu Dhabi. Ai Everything. The AI forum brings together policymakers, innovators and business leaders. 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. 12-14, Dubai. The Airport Show. Exploring innovations in sustainability, digitalization, security and passenger experience, alongside several major industry forums. Dubai World Trade Centre. 

Oct. 13-15, Dubai. SuperReturn Middle East. Exploring fundraising, private credit, family offices, infrastructure, AI, venture capital and shifting investment opportunities across the region. Ritz-Carlton, DIFC.

Oct. 21, Abu Dhabi. Reuters NEXT Gulf. Exploring the Gulf’s growing global influence across AI, finance, energy, trade and geopolitics. St. Regis Saadiyat Island Resort.

Oct. 21, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 22-26, Dubai. Dubai Fashion Week. Dubai’s official fashion platform, bringing together regional and international designers, buyers and industry leaders for runway shows, collection launches and events. Dubai Design District.

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

TALENT DRAIN

Saudi Arabia’s expatriate jobs boom is fading as the Iran war compounds Public Investment Fund cutbacks and a broader hiring slowdown, resulting in fewer opportunities and less generous pay packages. “The war has exacerbated PIF cutbacks,” Mark Butler, a partner at Saudi recruitment company Sterling Bell, told Arabian Gulf Business Insight. The shift has come after a hiring boom that recruiters described as “so intense” that they were often given just months to find thousands of workers for PIF-led projects, often with generous salaries and incentives. Hiring could accelerate again ahead of Expo 2030 Riyadh and the 2034 World Cup, but recruiters expect the market to remain subdued in the near term.

ARGENTINA ACCORD

The UAE and Argentina have opened talks on a Comprehensive Economic Partnership Agreement aimed at expanding trade and investment. UAE Foreign Trade Minister Thani Al Zeyoudi and Argentine Foreign Minister Pablo Quirno announced the negotiations after meeting in New York on Thursday, according to the state-owned Emirates News Agency. Energy, mining, data centers and agriculture are among the sectors in focus. Since launching its CEPA program in 2021, the UAE has signed more than 35 such agreements, including deals with India, Israel and Turkey.

Public Investment Fund: The Saudi sovereign wealth fund is considering increasing its allocation to fixed income assets and awarding a first allocation of about $500 million to Pacific Investment Management Co., Bloomberg reports.

Abu Dhabi Investment Authority: ADIA invested about $11 million in Indian spirits maker Allied Blenders & Distillers, acquiring more than 1.5 million shares.

Qatar Investment Authority: QNB Syria, part of QIA’s QNB Group, has partnered with Al Baraka Bank Syria and the Commercial Bank of Syria to provide syndicated financing for the final phase of the Qasioun Journey project in Damascus.

✈️ Grounding Iran: The UAE has suspended flights by Iranian airlines until further notice in response to new U.S. sanctions. Iranian flights to Oman and several other destinations have also been halted.

🏦 Jordanian Venture: Jordan’s Bank al Etihad signed an initial agreement with Ethmar International Holding and other UAE investors to establish a bank in Abu Dhabi Global Market.

✈️ Heading East: Emirates is increasing its capacity on China routes this winter as strong demand drives passenger growth, with more than 604,000 travelers carried on its Dubai-China routes in the first half of 2026, according to data from aviation analytics firm Cirium.

🏦 Radiant Mystery: Four obscure entities that appear to be registered in the UAE have turned up in court documents related to embattled commodity trader Radiant World, which claims they owe it a combined $329 million, Bloomberg reports.

⚡ Northern Lights: The UAE emirate of Sharjah is developing 13 power transmission projects worth more than $197 million to strengthen its electricity network and support growth in residential, investment and industrial areas.

💰 Taking Over: The Middle East has outpaced much of Asia in adopting systematic co-investment and direct investment programs, largely driven by the region’s sovereign wealth funds, according to investment bank Houlihan Lokey.

🏦 Radiant Mystery: Four obscure entities that appear to be registered in the UAE have turned up in court documents related to embattled commodity trader Radiant World, which claims they owe it a combined $329 million, Bloomberg reports.

⚡ Northern Lights: The UAE emirate of Sharjah is developing 13 power transmission projects worth more than $197 million to strengthen its electricity network and support growth in residential, investment and industrial areas.

💰 Taking Over: The Middle East has outpaced much of Asia in adopting systematic co-investment and direct investment programs, largely driven by the region’s sovereign wealth funds, according to investment bank Houlihan Lokey.

✈️ Heading East: Emirates is increasing its capacity on China routes this winter as strong demand drives passenger growth, with more than 604,000 travellers carried on its Dubai-China routes in the first half of 2026, according to data from aviation analytics firm Cirium.

Suhail Al Mazrouei, UAE Minister of Energy and Infrastructure, attended a reception hosted by Ashrafjon Gulov, Ambassador of Tajikistan to the UAE, in Abu Dhabi on Thursday.

Mohammed Al Ahbabi, Director of Tourism Development at the UAE Ministry of Economy and Tourism, told Arabian Gulf Business Insight that the ministry is pushing tourism investment beyond established hubs such as Dubai, Abu Dhabi and Ras Al Khaimah.

Abdulla Balalaa, UAE Assistant Minister of Foreign Affairs for Energy and Sustainability, told reporters that GCC countries are in discussions on a water-sharing initiative, aimed at replicating the bloc’s existing power cooperation model.

🧨 Let it Shine: American pop star Katy Perry will headline a glitzy New Year’s Eve gala at Atlantis in Dubai, with tickets starting at more than $2,000. The black-tie event at the Palm Jumeirah resort has previously featured international stars including Sting, Lionel Richie and Maroon 5. Golden Circle tickets, starting at $3,948, include private seating in front of the stage, a caviar box with personalized truffle service and unlimited drinks. Perry, whose hit “Firework” has become a staple for ringing in the New Year, closed last year’s Abu Dhabi Grand Prix. 

📷 Photo of the Day

Sept. 22-28, New York. U.N. General Assembly. Close to 100 heads of state take the stage for a marathon week of speeches and top-level diplomacy. U.N. Headquarters.

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

Sept. 29-30, Abu Dhabi. Arab Federation of Capital Markets. Hosted by the Abu Dhabi Securities Exchange, the event brings together executives from Arab stock exchanges, regulators, clearing houses, investment banks, asset managers and international financial institutions. Grand Hyatt Abu Dhabi.

Sept. 29-30, Doha. Qatar Fintech Expo. QFEX 2026 will explore developments in financial markets, artificial intelligence, digital assets, fintech and connectivity. Hilton Doha.

Sept. 29-Oct. 1, Dubai. Future Hospitality Summit. Exploring key trends in hotel development, sustainability, innovation and entrepreneurship. Madinat Jumeirah. 

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

Sept. 29-Oct. 1, Dubai. GoTech. Energy industry leaders, startups and technology experts explore innovation, AI, sustainability and emerging technologies shaping the future of energy. Dubai World Trade Centre.

Sept. 30, Dubai. AWS Summit Dubai. Exploring the latest developments in cloud computing, AI and digital transformation. Dubai World Trade Centre. 

Oct. 6-7, Abu Dhabi. Ai Everything. The AI forum brings together policymakers, innovators and business leaders. 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. 12-14, Dubai. The Airport Show. Exploring innovations in sustainability, digitalization, security and passenger experience, alongside several major industry forums. Dubai World Trade Centre. 

Oct. 13-15, Dubai. SuperReturn Middle East. Exploring fundraising, private credit, family offices, infrastructure, AI, venture capital and shifting investment opportunities across the region. Ritz-Carlton, DIFC.

Oct. 21, Abu Dhabi. Reuters NEXT Gulf. Exploring the Gulf’s growing global influence across AI, finance, energy, trade and geopolitics. St. Regis Saadiyat Island Resort.

Oct. 21, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 22-26, Dubai. Dubai Fashion Week. Dubai’s official fashion platform, bringing together regional and international designers, buyers and industry leaders for runway shows, collection launches and events. Dubai Design District.

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

IRAN BAN

The UAE central bank has barred Bank Melli Iran’s local branches from conducting financial transactions to and from Iran. The regulatory body said its action followed examinations that found breaches of UAE rules and supervisory requirements. The violations were related to anti-money laundering, terrorism financing and proliferation financing. The central bank said the measures are aimed at safeguarding the integrity of the UAE financial system and ensuring compliance with international standards. The move marks the latest crackdown on Iranian-linked businesses and financial activity after months of Iran’s missile and drone strikes against the UAE.

IPO SHAKEUP

Saudi Arabia wants to tighten the rules for companies going public after share sales in the kingdom raised just $144 million this year — compared to roughly $4.5 billion in 2025. Under a set of proposed changes, investors would have to show they have the cash to back their orders, and companies would have to publish at least a year of financial forecasts, Bloomberg reports. Banks underwriting a sale would also have to commit to buying any unsold shares before investors start placing orders. Additionally, the Saudi Capital Market Authority seeks to address inflated order books by requiring banks to verify that investor orders “reflect the actual value of liquidity available to the investor.”

Abu Dhabi Investment Authority: ADIA reportedly bought more than $1 billion of private-market stakes from Saudi Arabia’s KAUST as it expands its exposure through secondary deals.

Saudi Aramco: The energy giant has sold nearly 100 million barrels of oil to Asian buyers for October and November delivery, helping avert a regional supply crunch, Bloomberg reports.

Oman Investment Authority: Oman’s sovereign wealth fund has floated nearly 2,300 tenders worth $6.8 billion through September, creating new opportunities for private companies and SMEs.

Public Investment Fund: Saudi Arabia’s PIF-owned Saudi Arabia Railways has ordered 780 railcars from Oregon-based Greenbrier.

Red Sea Global: The PIF-owned developer launched Yachting Network, a new marina and yacht club operator, at the Monaco Yacht Show 2026.

🌍 Growth Hope: The OECD raised its 2026 global growth forecast slightly to 2.9% — down from 3.4% last year — and predicts that in 2027 booming AI investment will offset the impact of disruptions in the Middle East energy market.

🚦 Green Light: The UAE central bank has given preliminary approval for National Bank of Egypt to acquire Banque Misr’s UAE branches after the U.S. Treasury moved to restrict the Egyptian lender’s access to U.S. correspondent banking over alleged links to Iranian money flows.

☕ Coffee Takeover: UAE-listed MAIR Group has agreed to acquire a 70% stake in Eslab, owner of Turkish specialty coffee chain Espressolab.

🏘️ Residential Expansion: Dubai developer Meraas has awarded GCC Contracting a nearly AED 1 billion ($272 million) contract to build 272 villas and townhouses at Nad Al Sheba Gardens Phase 7.

🚁 Drone Supply: Chinese companies have become the biggest source of seized goods bound for Yemen’s Houthis, with components that are especially important to the group’s drones, The Wall Street Journal reports.

🏢 New Bureau: U.S. financial services company State Street plans to open an Al Ain operating center by the end of 2027 and hire 300 people over three years as it expands in the UAE emirate of Abu Dhabi.

🔴 Deal Stalled: Barry Diller’s People Inc. has dropped plans to acquire the remaining 74% of MGM Resorts International, which has projects in the UAE, after struggling to secure additional equity financing, Bloomberg reports.

Sheikh Abdullah bin Zayed, UAE Foreign Minister, met separately in New York with a number of leaders and foreign ministers participating in the United Nations General Assembly, including José Manuel Restrepo, Vice President of Colombia; Daniel Noboa, President of Ecuador; Radosław Sikorski, Foreign Minister of Poland; Anita Orbán, Foreign Minister of Hungary; and Sergey Lavrov, Foreign Minister of Russia.

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, met with South Korea’s Foreign Minister Cho Hyun, on the sidelines of the United Nations General Assembly in New York on Wednesday. Prince Faisal also participated in the Ministerial Meeting on Strengthening Cooperation for a Secure, Stable Maritime Domain on Wednesday.

Sheikh Hazza bin Zayed, the Abu Dhabi Ruler’s Representative in Al Ain Region, inaugurated the first Al Ain Future Business Forum, organized by Abu Dhabi Department of Economic Development under the theme “Invest, Develop, Thrive,” at ADNEC Centre Al Ain on Wednesday.

Ari Emanuel, who returned Saudi Arabia’s $400 million investment in his Endeavor talent agency after Jamal Khashoggi’s murder, told Vulture that his TKO sports and entertainment firm now does business with the kingdom through WWE and UFC, calling the relationship “incredibly strong, constructive, and very collaborative.”

Omar Al Olama, UAE Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, led a delegation of more than 50 government AI chiefs and officials who visited Silicon Valley to meet U.S. tech companies and explore the use of AI agents. On the itinerary were stops at Dell Technologies, Nvidia, Google, Databricks, AMD, Microsoft and Stanford University. They also attended Salesforce’s Dreamforce 2026 conference.

Lewis Hamilton, the British F1 racecar driver who competes for Ferrari, has backed the F1 season to conclude in the Middle East and says he “wants to go” to Qatar and Abu Dhabi, The National reports. 

Badr Jafar, Special Envoy of the UAE Minister of Foreign Affairs for Business and Philanthropy, told a private CEO roundtable in New York about financing water projects that the “AI revolution, the energy transition, food security and urban growth are all water stories.”

🦸 Marvel Ban: Kuwait banned Marvel blockbuster “Avengers: Endgame Encore” on the eve of its release at movie theaters across the Gulf today. Cinema chains Cinescape and Vox announced the cancellation of the movie and said they would issue refunds for those who had already booked tickets. Kuwait screened the original 2019 version of the film with cuts. It is not known what prompted the ban, however, fans have speculated online that it is related to a brief  LGBTQ+ reference. Kuwait has previously blocked Hollywood releases including “Barbie” for containing “ideas and beliefs that are alien to Kuwaiti society and public order.”

📷 Photo of the Day

Sept. 22-28, New York. U.N. General Assembly. Close to 100 heads of state take the stage for a marathon week of speeches and top-level diplomacy. U.N. Headquarters.

Sept. 22-24, Dubai. Seamless Middle East. The annual event brings together more than 25,000 professionals across e-commerce, retail, digital marketing, payments and fintech to explore the latest technologies and trends shaping digital commerce. Dubai World Trade Centre.

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

Sept. 29-30, Abu Dhabi. Arab Federation of Capital Markets. Hosted by the Abu Dhabi Securities Exchange, the event brings together executives from Arab stock exchanges, regulators, clearing houses, investment banks, asset managers and international financial institutions. Grand Hyatt Abu Dhabi.

Sept. 29-30, Doha. Qatar Fintech Expo. QFEX 2026 will explore developments in financial markets, artificial intelligence, digital assets, fintech and connectivity. Hilton Doha.

Sept. 29-Oct. 1, Dubai. Future Hospitality Summit. Exploring key trends in hotel development, sustainability, innovation and entrepreneurship. Madinat Jumeirah. 

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

Sept. 29-Oct. 1, Dubai. GoTech. Energy industry leaders, startups and technology experts explore innovation, AI, sustainability and emerging technologies shaping the future of energy. Dubai World Trade Centre.

Sept. 30, Dubai. AWS Summit Dubai. Exploring the latest developments in cloud computing, AI and digital transformation. Dubai World Trade Centre. 

Oct. 6-7, Abu Dhabi. Ai Everything. The AI forum brings together policymakers, innovators and business leaders. 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. 12-14, Dubai. The Airport Show. Exploring innovations in sustainability, digitalization, security and passenger experience, alongside several major industry forums. Dubai World Trade Centre. 

Oct. 13-15, Dubai. SuperReturn Middle East. Exploring fundraising, private credit, family offices, infrastructure, AI, venture capital and shifting investment opportunities across the region. Ritz-Carlton, DIFC.

Oct. 21, Abu Dhabi. Reuters NEXT Gulf. Exploring the Gulf’s growing global influence across AI, finance, energy, trade and geopolitics. St. Regis Saadiyat Island Resort.

Oct. 21, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 22-26, Dubai. Dubai Fashion Week. Dubai’s official fashion platform, bringing together regional and international designers, buyers and industry leaders for runway shows, collection launches and events. Dubai Design District.

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

GAS GAMBIT

Saudi Aramco, the world’s biggest oil exporter, plans to create a gas division, giving the business its own president and preparing for major investments in LNG. The overhaul could pave the way for Aramco to sell a minority stake in the gas business or list parts of it to raise money for Saudi projects and overseas energy investments, Reuters reports. Aramco is expanding the Jafurah shale gas field to supply more gas at home, freeing up oil now burned for power generation for export. The company raised $11 billion last year through a lease deal involving Jafurah’s gas processing facilities, offering another model for funding its expansion.

BOEHLY’S BID

Billionaire Todd Boehly has assembled a group to bid for Russian oil company Lukoil’s international assets that includes prominent Gulf investors. The backers include Sheikh Tahnoon bin Zayed, the UAE National Security Advisor whose International Holding Co. is expected to lead the consortium alongside UAE-based Allied Investment Partners, the Financial Times reports. Also participating are the Syrian-Qatari Al-Khayyat family, represented by brothers Ramez and Moataz Al-Khayyat, and the U.S. International Development Finance Corp. — headed by Ben Black, the son of Leon Black, co-founder of the private equity firm Apollo . The group has yet to reach a deal with Lukoil and is seeking to displace Carlyle, whose earlier purchase agreement remains stalled pending U.S. approval, the newspaper said.

ADNOC: XRG, the investment arm of the UAE’s national oil company, is exploring the purchase of a stake in the Shell-led LNG Canada export project, part of ADNOC’s effort to become one of the world’s five largest gas and petrochemicals suppliers, Bloomberg reports.

Public Investment Fund: PIF-backed Red Sea Global, along with the Saudi Tourism Authority and associated tourism brands, is leading the kingdom’s pavilion at the Monaco Yacht Show, which kicks off today in Port Hercule. The continued push to promote yachting on the Red Sea coast comes despite renewed conflict with the Iran-backed Houthis disrupting trade and tourism to the area in recent weeks.

South Africa Fund: The South African government has been talking to several Gulf sovereign wealth funds amid plans to create its own fundraising vehicle for a new state property company that will manage $9.5 billion in buildings and land, Bloomberg reports. The country is seeking outside investment to help meet its infrastructure goals, and Public Works and Infrastructure Minister Dean Macpherson said from Dubai that Gulf investors have shown strong interest.

🇨🇳 Alibaba Expands: Alibaba said it plans to expand its data centers in the UAE as it pushes its cloud and AI services further into the Middle East.

🍫 Chocolate Freeze: Swiss chocolate maker Lindt has suspended plans to establish a flagship Dubai chocolate museum and store amid concerns that the Iran war is hurting tourism and air travel in the Gulf.

📱 Payment Entry: PhonePe received preliminary UAE Central Bank approval for licenses that would allow the Indian fintech to offer payment and stored-value services in the country, Reuters reports.

🤖 Proptech Platform: Dubai-based Huspy, which runs an AI operating system for real estate and mortgage brokers, has acquired Italy’s Integra Finance.

🛢️ Pipeline Restart: Saudi Arabia restarted its East-West oil pipeline at a reduced rate and is prepared to resume exports from Yanbu, pushing Brent crude down more than $2 toward $97 a barrel, Reuters reports.

📈 IPO Regulations: Saudi Arabia’s Capital Market Authority has proposed new IPO regulations aimed at improving transparency, fairness and alignment with global standards.

🎈 Events Disrupted: Saudi Arabia’s events industry faces disruption in its peak season, as escalating Houthi missile threats deter international visitors, potentially forcing organizers to postpone shows or focus more on regional audiences.

🇸🇾 Lucky Syria: Erebor Bank is eyeing a foray into Syria to help the war-torn country reconnect to the global financial system, after the bank founded by Palmer Luckey became a new financial bridge between the U.S. and Venezuela, The Information reports.

Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani told the U.N. General Assembly in New York on Tuesday that the Middle East is going through “one of its most dangerous phases,” adding that the ongoing developments could be solved through “diplomatic means.” 

UAE President Sheikh Mohamed bin Zayed and members of the Supreme Council and Rulers of the Emirates offered their condolences to Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, in Dubai on Tuesday, after the passing of his brother Sheikh Ahmed bin Rashid.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, participated in a meeting convened by U.S. President Donald Trump that included Jordan’s King Abdullah II; Qatar’s Emir Sheikh Tamim bin Hamad; Turkey’s President Recep Tayyip Erdoğan; Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan; Syria’s President Ahmed Al-Sharaa; Kuwait’s Crown Prince Sheikh Sabah Khaled Al-Hamad; Iraq’s Prime Minister Ali al-Zaidi; Lebanon’s Prime Minister Dr. Nawaf Salam; and Egypt’s Prime Minister Dr. Mostafa Madbouly.

Saudi Crown Prince Mohammed bin Salman held a phone call with Russian President Vladimir Putin on Tuesday to discuss developments in the region and the repercussions of the ongoing escalation on maritime security.

Jarrod Agen, Executive Director of the White House’s National Energy Dominance Council, told The National in an interview that Gulf countries need to “de-emphasize the strait [Hormuz],” by creating “several routes, different corridors, either east-west, either bypassing the strait or getting up Turkey or into the Mediterranean.”

Sarah Al Amiri, the UAE’s Minister of Education, is leading a push to introduce AI literacy across state schools while reducing screen time, with a focus on teaching children to understand and critically evaluate AI rather than rely on it to think for them.

Mario Makary was appointed Vice President and Country Manager for the UAE at Visa.

Tristan Delmas was appointed General Manager of Chedi Wadi Safar, part of the Wadi Safar masterplan in Saudi Arabia’s Diriyah megaproject, by Chedi Hospitality.

🧑‍🍳 Gastro Grove: Time Out Market is coming to Abu Dhabi, with the launch of a new food hall at Saadiyat Grove, alongside new international restaurants including New York chef David Chang’s Momofuku, The National reports. The global food hall concept, which first launched in Lisbon in 2014 and has expanded to cities including Barcelona, Budapest and New York, already has an outlet in Dubai’s Souk Al Bahar, neighboring Dubai Mall and the Burj Khalifa. Separately, Saadiyat Grove will have an Alain Ducasse Cafe and a Monsieur Paul — the French brasserie inspired by legendary French chef Paul Bocuse.

📷 Photo of the Day

Sept. 22-28, New York. U.N. General Assembly. Close to 100 heads of state take the stage for a marathon week of speeches and top-level diplomacy. U.N. Headquarters.

Sept. 22-24, Dubai. Seamless Middle East. The annual event brings together more than 25,000 professionals across e-commerce, retail, digital marketing, payments and fintech to explore the latest technologies and trends shaping digital commerce. Dubai World Trade Centre.

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

Sept. 29-30, Abu Dhabi. Arab Federation of Capital Markets. Hosted by the Abu Dhabi Securities Exchange, the event brings together executives from Arab stock exchanges, regulators, clearing houses, investment banks, asset managers and international financial institutions. Grand Hyatt Abu Dhabi.

Sept. 29-30, Doha. Qatar Fintech Expo. QFEX 2026 will explore developments in financial markets, artificial intelligence, digital assets, fintech and connectivity. Hilton Doha.

Sept 29-Oct. 1, Dubai. Future Hospitality Summit. Exploring key trends in hotel development, sustainability, innovation and entrepreneurship. Madinat Jumeirah. 

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

Sept. 29-Oct. 1, Dubai. GoTech. Energy industry leaders, startups and technology experts explore innovation, AI, sustainability and emerging technologies shaping the future of energy. Dubai World Trade Centre.

Sept. 30, Dubai. AWS Summit Dubai. Exploring the latest developments in cloud computing, AI and digital transformation. Dubai World Trade Centre. 

Oct. 6-7, Abu Dhabi. Ai Everything. The AI forum brings together policymakers, innovators and business leaders. 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. 12-14, Dubai. The Airport Show. Exploring innovations in sustainability, digitalization, security and passenger experience, alongside several major industry forums. Dubai World Trade Centre. 

Oct. 13-15, Dubai. SuperReturn Middle East. Exploring fundraising, private credit, family offices, infrastructure, AI, venture capital and shifting investment opportunities across the region. Ritz-Carlton, DIFC.

Oct. 21, Abu Dhabi. Reuters NEXT Gulf. Exploring the Gulf’s growing global influence across AI, finance, energy, trade and geopolitics. St. Regis Saadiyat Island Resort.

Oct. 21, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

Oct. 22-26, Dubai. Dubai Fashion Week. Dubai’s official fashion platform, bringing together regional and international designers, buyers and industry leaders for runway shows, collection launches and events. Dubai Design District.

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

HOLLYWOOD ENDING

Paramount Skydance has cleared the way for its Gulf-backed $110 billion acquisition of Warner Bros. Discovery by settling lawsuits brought by U.S. states and the Writers Guild trade union. The settlements include a wide range of promises, including a guarantee to release 30 movies a year into theaters or pay fines of $30 million per film short of that goal. Paramount also agreed not to sell either of its big studio lots in Los Angeles and to invest $1.5 billion in domestic film and TV production, Bloomberg reports. Paramount CEO David Ellison said the company now has “complete clearance for this merger.” Saudi Arabia’s Public Investment Fund, the Qatar Investment Authority and Abu Dhabi’s L’Imad Holding are all backing the deal, but will not have voting rights in the merged entity.

PRIVATE DATA 

Wealthy Gulf residents and family offices are building private data centers for homes and luxury yachts. Demand has accelerated since Iranian drone attacks disrupted Gulf cloud infrastructure, including Amazon Web Services facilities in Bahrain and the UAE. Rain Ibajo, Chief Technology Officer at Dubai-based Ragoa Technologies, told Arabian Gulf Business Insight that private systems cost between about $550,000 and $1.1 million. Advances in AI are also making the systems more useful, allowing owners to analyze sensitive data locally while reducing reliance on external cloud providers.

Qatar Investment Authority: The sovereign wealth fund said it is planning a $20 billion partnership with JPMorgan Chase & Co., spanning public and private markets in equities and credit, Bloomberg reports. 

Public Investment Fund: Saudi EV startup Ceer, a joint venture between the PIF and Foxconn, unveiled its first two models, the Exobot sedan and Exobot SUV. 

Abu Dhabi Investment Authority: Property firm New World Development Co. and ADIA are in talks to sell their stakes in Hong Kong’s Hyatt Regency Kowloon to Singapore’s UOL Group in a deal valuing the hotel at about $382 million.

QatarEnergy: Qatar says repairs to two damaged Ras Laffan LNG trains will take three years, while a separate gas-to-liquids line is expected to resume by Q1 2027.

💵 International Sale: Qatar raised $3 billion in its first international bond sale of the year as the U.S.-Iran war and Strait of Hormuz disruption weigh on LNG exports and public finances.

📈 Expanding Locally: Saudi-listed SHL Finance Company secured a $53.3 million credit facility from Saudi Investment Bank to support its expansion and boost sales by extending new financing to customers.

🚧 Construction Projects: Egyptian developer QORE has launched its new Maydan real estate project as part of a roughly $580 million investment plan through 2030.

🏦 Rebuilding Fund: The Trump administration has proposed a $5 billion fund to rebuild critical Middle East infrastructure damaged in the Iran war, including projects aimed at bypassing the Strait of Hormuz, Bloomberg reports.

⛽ Diesel Drain: The global diesel shortage is expected to last into 2027 as the wars in Iran and Ukraine disrupt supplies and drive fuel prices to record highs, Reuters reports.

🏨 Hotel Recovery: Occupancy at Emaar’s Dubai hotels has rebounded to about 60% from a wartime low of 20%-25%, with founder Mohamed Alabbar predicting a return to the previous 83% level within a year.

🇬🇧 Aerial Backup: The U.K. government agreed to provide air-to-air refueling for Saudi jets conducting defensive missions against the Houthis.

🚄 Rail Pass: Etihad Rail tickets on the first route between Dubai and Abu Dhabi are on sale ahead of the line’s Sept. 30 launch. Fares start at 39 dirhams ($10.61).

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, met with Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar in New York on the sidelines of the U.N. General Assembly.

Qatar’s Emir Sheikh Tamim bin Hamad Al Thani offered his condolences to Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, on the passing of his brother, the late Sheikh Ahmed bin Rashid.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, held separate meetings in New York with a number of foreign ministers including Cho Hyun, Minister of Foreign Affairs of South Korea; Juraj Blanár, Minister of Foreign and European Affairs of Slovakia; and Constantinos Kombos, Minister of Foreign Affairs of Cyprus.

Dr. Sultan Al Jaber, Managing Director and Group CEO of ADNOC and Executive Chairman of XRG, met with Morgan Stanley Chairman and CEO Ted Pick in New York. Al Jaber also met with Brookfield CEO Bruce Flatt. 

Majed Al Ansari, adviser to Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman, said in New York on Monday that economic interdependence between Iran and its Gulf neighbors could provide a foundation for security in the long term.

Sana Amairi-Pyka, Technology Innovation Institute’s Lead Scientist for Quantum Communications, is leading an Abu Dhabi project using quantum technology to protect sensitive data from future cyber threats, Arabian Gulf Business Insight reports.

Kaja Kallas, the European Union’s top diplomat, called for member states to send more naval vessels to protect commercial shipping in the Red Sea, Bloomberg reports. 

🎟️ Ticket Time: Tickets for the Frank Gehry-designed Guggenheim Abu Dhabi have gone on sale ahead of the museum’s opening on Dec. 11. The museum in the Saadiyat Cultural District joins the Louvre Abu Dhabi, Natural History Museum Abu Dhabi, Zayed National Museum and teamLab Phenomena. Tickets are priced at 70 dirhams ($19.06).

📷 Photo of the Day

UN DIPLOMACY

Oil prices fell to their lowest level in a week early on Monday amid growing diplomatic momentum surrounding the United Nations General Assembly in New York, with high-level debate opening tomorrow. U.S. President Donald Trump, who is expected to speak on the first day, is set to meet Gulf officials alongside leaders from Iraq, Jordan and potentially Egypt, as nations press for a solution to the Iran conflict. Iranian President Masoud Pezeshkian will travel to New York on Tuesday, officials confirmed. Dr. Anwar Gargash, Diplomatic Advisor to UAE President Sheikh Mohamed bin Zayed, called for a “new mindset” and greater Arab-Iranian dialogue. “These sorts of discussions about what sort of region we all want, what sort of stability we all pray for, and what sort of [..] development, which is very much linked to stability … while it can happen at an Iranian-American level, it should also take place at an Iranian-Arab level,” he said.

SEAFRONT DEVELOPMENT

Abu Dhabi-based Eagle Hills is planning a $12 billion waterfront development in the Maldives, targeting demand from wealthy buyers in the Gulf, Europe and India. The project, to be built on a 5.2 million-square-meter island about 20 minutes from Malé, will span five districts, with homes, hotels, resorts, shops, schools, clinics, a marina and water park, Chairman Mohammed Alabbar told Bloomberg. Dubai’s Emaar Properties, also headed by Alabbar, could participate. The project extends Eagle Hills’ overseas expansion as UAE developers look abroad for growth following a multiyear domestic property boom.

International Holding Co.: The conglomerate chaired by Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and National Security Adviser, has updated its ownership structure, confirming Fount Trust as its ultimate parent, without changing its beneficial ownership.

Public Investment Fund: Saudi Arabia’s PIF launched Tawrid, a digital supply-chain financing platform aimed at improving working capital and liquidity for Saudi companies, particularly SMEs.

Public Investment Fund: Roshn Group, a PIF company, and Talaat Moustafa Group Saudi agreed to establish a joint venture to develop a residential-led mixed-use community in Riyadh with more than 55,000 homes.

Public Investment Fund: Paramount Skydance Corp. may agree to a financial penalty if the company fails to distribute 30 films per year in theaters as part of settlement talks with California officials over its Gulf-backed acquisition of Warner Bros. Discovery. The PIF, Qatar Investment Authority and Abu Dhabi’s L’Imad Holding are all backing the deal.

Mubadala: Abu Dhabi sovereign wealth fund Mubadala is the frontrunner among Gulf investors seeking a stake in Italian engineering firm Ansaldo Energia, while state-owned CDP Equity plans to retain majority control.

Mubadala: Egyptian payment company Paymob raised $35 million in a pre-Series C round co-led by Mubadala and EBRD to expand across MENA and develop new products.

Abu Dhabi Investment Authority: ADIA has sold part of its stake in Indian eyewear retailer Lenskart Solutions, which has seen its shares spike more than 60% since its $821 million IPO in Mumbai last November.

🚆 United Front: Etihad Rail Freight and Abu Dhabi Ports have launched a direct freight route between Abu Dhabi and the emirate of Fujairah, which has a coast on the Gulf of Oman, outside the Strait of Hormuz.

📦 Moving Cargo: Goods worth $463 million have moved through the Sharjah-Oman logistics corridor since May, up more than 66% in its first three months as shippers seek to bypass the Strait of Hormuz.

⚕️ Ancient Medicine: Egypt is seeking to revive its medical tourism industry in the ancient city of Luxor, targeting 5,000 additional healthcare sites and more than $6 million in revenue this year.

✈️ Aviation Crisis: Qatar Airways CEO Hamad Al-Khater said the Iran conflict has been the biggest crisis in the airline’s 30-year history, forcing it to adapt to widespread airspace closures and flight disruptions.

🪜 Wealth Ladder: Riyadh climbed 15 places to 46th in the Global Financial Centres Index, while Dubai remained in the global top 10 at ninth spot.

🙅 Not Moving: Saudi Arabia’s E.A. Juffali & Brothers Group has denied having any plans to relocate its operations or offices, after Bloomberg reported that the Juffali dynasty’s family office, Hasma Capital Advisors, was relocating staff from London to Dubai.

🚢 LNG Passage: Pakistan negotiated safe passage with Iran through the Strait of Hormuz for a second Qatari LNG shipment this month, offering some relief from the country’s energy shortfall.

🪙 Coin Drop: Saudi Arabia has quit the China-led cross-border digital currency platform mBridge, after completing its proof of concept last year, the Financial Times reports. 

Sheikh Ahmed bin Rashid Al Maktoum, the younger brother of Dubai Ruler Sheikh Mohammed bin Rashid, died on Monday morning, the Ruler’s Court announced, declaring 10 days of official mourning across the emirate.

Sheikh Mohammed bin Abdulrahman Al-Thani, Qatar’s Prime Minister, said Gulf states must work together to restore stability in the region and help find a settlement between the U.S. and Iran, speaking at the Qatar Economic Forum in New York on Sunday. Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, will lead the UAE’s delegation at the United Nations General Assembly in New York this week.

Prince Faisal bin Farhan, Saudi Arabia’s Minister of Foreign Affairs, will lead the Saudi delegation at the United Nations General Assembly in New York this week.

Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, attended on Friday the signing of a cooperation agreement between the UAE emirate’s authorities and Chinese company Aridge to develop, test and implement advanced air mobility solutions.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Deputy Prime Minister and Minister of Defense, has expanded the Rashid Villages project he launched last year in memory of his brother Sheikh Rashid bin Mohammed.

Mohammed Ebrahim Al Fardan, Head of Al Fardan Holding and a veteran Middle East venture capitalist, told Arabian Gulf Business Insight the global financial system is broken and warned that complacency and a lack of innovation among regional VCs pose a greater threat than the Iran war.

Saood Abdulaziz Al Hosani was appointed Director General of Abu Dhabi Media Office.

Ahmed Burashid was appointed CEO of SICO Wealth, a unit of Bahrain-based asset manager, broker and investment bank SICO. SICO Wealth was established earlier this year in the Abu Dhabi Global Market.

🎮 Game Show: Abu Dhabi gaming studio Red Dunes returned to Japan’s Tokyo Game Show this year with nine new titles to announce, including “Port of Jumanah,” “Zozo and the Lost Dreams,” and “Nightmare Circus.” The company, which first visited the show in 2023 looking for introductions, has evolved into one of its biggest exhibitors, with a souq-inspired stand The National reports. “It’s very impressive to see the growth that Red Dunes has had in the last five years, and the growth of UAE-based games and UAE-themed games,” Shihab Al Faheem, the UAE Ambassador to Japan, said.

📷 Photo of the Day

Sept. 18-28, New York. The 81st session of the United Nations General Assembly. World leaders gather in New York, with High-Level General Debate beginning on Tuesday, Sept. 22. UN Headquarters.

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. 6-7, Abu Dhabi. Ai Everything. The AI forum brings together policymakers, innovators and business leaders. 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, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

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

OVERLAND DETOUR

Having found that roads are more dependable than Middle East waterways, cargo haulers need more trucks. As the Iran war disrupts shipping through the Strait of Hormuz, Aramex’s solution is to send goods from Europe to Dubai through Turkey, Syria and Jordan. The company has completed more than 100 journeys – a two-week voyage – carrying raw materials, construction products and spare parts, Arabian Gulf Business Insight reports. Aramex has all 800 of its vehicles in operation and is leasing additional trucks to meet demand.

FESTIVAL RETURN

Dubai is planning to revive its glitzy International Film Festival after a 10-year hiatus as it ramps up efforts to develop the local film industry. The original festival ran annually from 2004 to 2017, hosting almost 2,000 screenings, including 500 films from the Arab world. The event saw Dubai royalty and regional filmmakers rubbing shoulders with Hollywood stars, including Cate Blanchett, George Clooney, Patrick Stewart and Omar Sharif. In its heyday, the 2011 edition opened with the world premiere of “Mission: Impossible – Ghost Protocol,” in which Tom Cruise rappelled down the side of the Burj Khalifa. Making the announcement at the Arab Media Summit on Thursday, Mona Al Marri, Director-General of the Government of Dubai Media Office, hinted at a refreshed format for the festival. “Today we bring back the festival, but we don’t bring the past,” she said. “The region today is different and filmmaking is different.”

Mubadala Capital: AI infrastructure provider Crusoe has raised the initial tranche of a $3.9 billion Series F round at a $30.9 billion valuation, co-led by Atreides Management, Mubadala Capital and Valor Equity Partners.

Saudi Aramco: The world’s biggest oil exporter is seeking diesel and gasoline cargoes in the Mediterranean after repeated attacks disrupted the kingdom’s energy infrastructure, including facilities in Yanbu and Jazan and the East-West pipeline, Bloomberg reports.

Public Investment Fund: Silvio Napoli, CEO of PIF-backed electric vehicle maker Lucid, told Bloomberg Television that the company’s work with restructuring advisors AlixPartners is complete, prompting a 10% jump in its share price in New York on Thursday.

Public Investment Fund: The U.S. Federal Communications Commission has agreed to allow Gulf sovereign funds to exceed the 25% foreign ownership cap in Paramount Skydance’s $110 billion takeover of Warner Bros. Discovery. The PIF, Qatar Investment Authority, Abu Dhabi’s L’Imad and other investors will indirectly own almost 49.5% of the new entity, but will not have voting rights.

XRG: The investment arm of the UAE’s ADNOC oil company is considering buying as much as 50% of floating LNG operator Energos Infrastructure, which Apollo Global Management could value at more than $3 billion, Reuters reports.

💵 Bank Acquisition: Qatar’s Estithmar Holding, an investment company, has completed its acquisition of a 48.68% stake in Syria’s Shahba Bank via its wholly owned subsidiary Masaref Holding.

💰 SME Funding: Saudi Arabia’s Monsha’at and STC Bank have agreed to provide up to $1.3 billion in Shariah-compliant financing to micro, small and medium-sized enterprises.

𖥂 Drone Zone: Serbia opened a factory to assemble advanced Israeli-designed drones for its military and foreign customers, with plans for at least three more plants.

🔩 Stealth Shift: The U.S. State Department approved a possible $24.3 billion sale of 48 F-35 fighter jets to Saudi Arabia, a policy shift that could test Washington’s commitment to preserving Israel’s military edge.

🏟️ Stadium Metal: Saudi aluminum demand could climb as much as 80% to 1.8 million tons annually by 2030 as the kingdom builds 15 stadiums and related infrastructure for the 2034 World Cup, Reuters reports.

🦁 Lion’s Share: Riyadh is set to get its own version of the Cannes Lions festival, the advertising industry’s global gathering, to be held at the King Abdullah Financial District next December.

🤝 Financial Agreements: Syria has signed its first syndicated Islamic finance agreement, bringing together Al Baraka Bank Syria, QNB Syria and the Commercial Bank of Syria to fund two development projects in Damascus.

🪙 Crypto Deals: South Korean blockchain and venture-capital firm Hashed has signed an agreement with Abu Dhabi Investment Office to help Korean companies and investors expand into Abu Dhabi and other regional markets.

Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi, UAE National Security Adviser and Chairman of IHC, is named among The Information’s 50 most influential people in tech.

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, visited a research project tracing the evolution of Al Khuzam, a traditional weaving practice, in Dubai today.

Sheikh Saoud Salem Abdulaziz Al-Sabah, Managing Director of the Kuwait Investment Authority, held talks with Canadian Prime Minister Mark Carney on expanding economic and strategic investment cooperation between Kuwait and Canada at an investment forum in Toronto.

Sheikh Jarrah Jaber Al-Ahmad Al-Sabah, Kuwaiti Minister of Foreign Affairs, and his Canadian counterpart Anita Anand signed a preliminary agreement to explore further cooperation in the defense and security sectors.

Duncan O’Rourke, Accor’s CEO for the Middle East, Africa and Asia Pacific’s economy, midscale and premium brands, told Arabian Gulf Business Insight that it is close to signing a deal to join the revived Dubai Pearl project, more than two decades after the long-delayed development was first announced.

Phillipa Harrison, CEO of Ras Al Khaimah Tourism Development Authority and a former managing director of Tourism Australia, told The National on the sidelines of Arabian Travel Market that the $5 billion-plus Wynn Al Marjan Island casino resort opening in 2027 was “part of a wider story” and that the emirate was a destination with considerable room to grow.

Marco Rubio, U.S. Secretary of State, is put under the microscope in a Bloomberg profile examining his motivations as he executes President Donald Trump’s wishes around the world.

Selin Suzer was appointed Chief Marketing Officer at food delivery app talabat, joining from parent company Delivery Hero.

🐆 Spot On: A breeding pair of critically endangered Arabian leopards are due to be sent from Saudi Arabia to a new home in the U.S. The leopards are part of a conservation and research partnership between the Royal Commission for AlUla and the Smithsonian’s National Zoo and Conservation Biology Institute, and will be housed in a new habitat at the zoo in Washington, The National reports. Fewer than 120 Arabian leopards remain in the wild.

📷 Photo of the Day

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. The forum will host a special leadership gathering alongside the 2026 U.N. General Assembly 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. 6-7, Abu Dhabi. Ai Everything. The AI forum brings together policymakers, innovators and business leaders. 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, 22, 24, Riyadh. Six Kings Slam. World No. 1 Jannik Sinner will defend his Six Kings Slam title when the tennis exhibition tournament returns, to be streamed globally on Netflix. ANB Arena.

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