PROPERTY RISERS

Blackstone and Permira are betting big on the UAE property market with a $525 million investment in Property Finder, the Dubai-based classifieds site. The deal, which gives the private capital firms a minority stake, marks Permira’s first move into the Middle East and underscores how global buyout giants are planting deeper roots in the Gulf, Bloomberg reports. Property Finder, launched nearly two decades ago, has been expanding across the region while sharpening its focus on Saudi Arabia and Turkey. The investment comes as Dubai home prices surge post-pandemic, stoking both optimism and fears of overheating. The website competes against two other classified platforms, Dubizzle and Bayut, the latter of which is backed by Jared Kushner’s Affinity Partners and has been considering an IPO.

NEOBANK ARRIVES

London-based digital bank Revolut has secured regulatory approvals from the UAE’s Central Bank to launch its services in the emirates. The decade-old fintech startup, which has been rapidly expanding into new markets, launched a secondary share sale earlier this month which saw its valuation rocket up to $75 billion, placing it among Europe’s most valuable financial firms. Revolut said in a statement on Tuesday that it had received in-principle approval for its relevant licences and would be ramping up hiring across the UAE. Historically it has been complicated for so-called neobanks to enter the UAE market, however the launch of homegrown Wio Bank, backed by ADQ, e& and FAB, three years ago has popularized app-based banking.

Mubadala: The Abu Dhabi sovereign wealth fund anticipates demand for all shares on offer in the sale of part of its stake in telecom operator Du, which could raise as much as $920 million, Bloomberg reports.

Mubadala: The fund is partnering with early-stage venture capital firm Antler and Hub71 to launch the National Founders Programme to commercialize university research via a six-week venture-building initiative.

Public Investment Fund: PIF-owned Saudi Arabia Railways invited bids for a new 35-kilometer rail line project in Riyadh.

Abu Dhabi Investment Authority: ADIA will invest in credit-focused asset manager Oak Hill Advisors’ European special situations strategy.

🚢 Port Contract: Dubai’s DP World secured a contract to operate a new container terminal at the Port of Montreal in Canada, expanding its presence in North America’s shipping and logistics sector.

📈 Stake Surge: JVP, a Jerusalem-based venture capital firm, raised $290 million from U.S. investor TPG, mainly to buy out early backers of insurtech startup Earnix, Calcalist reports.

⛽ Gas Deal: The Egyptian Natural Gas Holding Company signed a preliminary agreement with BP to drill five new gas wells in the Mediterranean Sea, Reuters reports. 

🌴 Market Date: Saudi Arabian luxury date producer Bateel International, which is majority owned by the royal family-linked Al Sudairi clan, is working with Morgan Stanley on a potential IPO, Bloomberg reports.

🌀 Cable Talks: Cyprus has approached the UAE for possible participation in a subsea cable project designed to improve Europe’s digital connectivity, the Cypriot president said.

🤝 Shaking Hands: Qatar and India are expected to finalize terms of reference for a free trade agreement within the first week of October.

Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai, announced the appointment of Lana Nusseibeh and Saeed Al Hajeri as Ministers of State in the UAE government on Tuesday.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, delivered an address at the BRICS Leaders Virtual Summit, convened on Monday by Brazilian President Luiz Inácio Lula da Silva. Among other participants were Russian President Vladimir Putin and Chinese President Xi Jinping.

Sheikh Tahnoon bin Zayed, UAE National Security Advisor, Deputy Ruler of Abu Dhabi and Chairman of MGX, posted on his X account that the launch of the “K2 Think” AI model will mark a significant step in advancing artificial intelligence from the UAE to the world.

Sheikh Saud bin Saqr Al Qasimi, Ruler of the northern emirate of Ras Al Khaimah, met with Duma Gideon Boko, President of Botswana, on Monday at his palace in Saqr bin Mohammed City.

Sheikh Ahmed bin Saeed, Chairman and CEO of Emirates airline, shared an image of a horsehead sculpture crafted from upcycled aircraft parts by the company’s engineering team.

Ramez Halazun, HSBC’s top IPO banker in Saudi Arabia, is leaving the bank to join investment advisory firm PJT Partners, Bloomberg reports.

Abdulla bin Mohammed bin Butti Al Hamed, Chairman of the National Media Office and Chairman of the UAE Media Council, met with a number of ministers and senior officials during his visit to Rwanda.

Dr. Abdulla Humaid Al Jarwan, Chairman of the Abu Dhabi Department of Energy, led a delegation to the U.S. to discuss further cooperation and strategic partnerships within the energy and water sectors. 

Doriane Groene has been appointed Senior Director, Microsoft Alliance, for Europe, Middle East and Africa by software company Veeam. She previously led Intel’s EMEA Microsoft Global Account Team.

✏️ Design Forward: Tanween, the flagship design event at Saudi Arabia’s King Abdulaziz Center for World Culture, known as Ithra, will return for its eighth edition under the theme “Design the Unspoken” from Nov. 17-22. Submissions are now open for designers worldwide to take part in the Tanween Challenge, which this year invites participants to shift their attention to designing for the underserved 90% of consumers, rather than the top 10%.

Sept. 8-10, Dubai. WHX Tech 2025. Participants explore the latest trends in health care. Dubai World Trade Center.  

Sept. 9-11, Riyadh. Index Saudi Arabia. A trade event that connects interior designers, architects, and buyers with brands, products, and developers. Riyadh Front Exhibition and Conference Center. 

Sept.10-11, Dubai.  PPP Mena Forum. A conference that seeks to foster private and public partnerships (PPP) in industries including infrastructure, energy, healthcare, transportation and information technology. Jumeirah Emirates Towers.

Sept. 12-14, Abu Dhabi. International Real Estate & Investment Show. A three-day event spotlighting the latest investment opportunities across the Middle East, Europe and the Asia Pacific regions. ADNEC.

Sept. 13, Abu Dhabi. M2 Expert Forum. Medical conference aimed at educating doctors and clinical practitioners in genomics. Dusit Thani Hotel.

Sept. 15-17, Abu Dhabi. The Riyadh Infrastructure Projects Center. The event will host representatives from over 25 countries discussing global infrastructure innovation, investment, and sustainable development. Riyadh International Convention and Exhibition Center.

Sept. 15-17, Dubai. ISM Middle East. A conference on emerging trends and advancements shaping the sweets and snacks industry. Dubai World Trade Center. 

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers.The Agenda, Dubai Media City.

Sept. 30-Oct. 2, Abu Dhabi. Global Rail and Transport Infrastructure Exhibition and Conference. An international event dedicated to the rail transport sector. ADNEC.

Oct. 27-30, Riyadh. Future Investment Initiative, 9th Edition. Investors, corporate executives, cabinet ministers and political leaders from around the world attend Saudi Arabia’s flagship business conference. King Abdulaziz International Conference Center.

TELECOM SHUFFLE

Mubadala Investment Co. is selling a 7.55% stake in Emirates Integrated Telecommunications, better known as Du, in a move expected to raise about $920 million. Goldman Sachs, Abu Dhabi Commercial Bank, Emirates NBD and First Abu Dhabi Bank are leading the transaction, according to the Abu Dhabi sovereign wealth fund. The stake sale comes as Mubadala looks to inject cash into new projects while opening its companies to a wider investor base. Mubadala owns roughly 10% of Du through its Mamoura Diversified Global Holding unit, while Emirates Investment Authority, the UAE’s federal wealth fund, remains the telecom’s largest shareholder with a stake of just over 50%.

GAMING GLAMOUR

Wynn Resorts and its partners are already eyeing a second casino-resort in the emirate of Ras Al Khaimah, even as their flagship project – the first gaming venture in the UAE – races toward a 2027 debut. An agreement filed with the SEC regulatory commission in the U.S. reveals a master plan that goes far beyond the first casino on Al Marjan Island, mapping out a second resort and luxury residences possibly branded with Tokyo-based Janu Hotels, Arabian Gulf Business Insight reports.  Wynn says it won’t decide on future projects or a potential IPO until its first resort opens its doors. Among other casino operators that have expressed interest in the UAE are MGM Resorts, Atlantis and Caesar’s Palace.

Abu Dhabi Investment Authority: The Abu Dhabi sovereign wealth fund may join a group of investors who will help Vantage Data Centers acquire Yondr Group’s assets in Malaysia in a transaction valued at about $1.6 billion, Bloomberg reports.

Mubadala: Abu Dhabi Commercial Bank, which is majority owned by the UAE sovereign wealth fund, will seek $1.7 billion via a rights issue.

Public Investment Fund: Saudi Arabia’s sovereign wealth fund plans to sell 10-year dollar bonds, as it seeks to plug funding gaps from falling oil prices.

Public Investment Fund: The PIF and Australia’s Macquarie Asset Management are exploring potential investments in the kingdom, including in digital infrastructure and energy, Semafor reports. Macquarie is considering opening an office in Riyadh.

ADQ: Etihad Airways is considering buying parts, such as seats, in bulk and storing them until needed as a solution to navigate supply delays, CEO Antonoaldo Neves told Bloomberg in an interview. 

Mumtalakat: Aluminium Bahrain, known as Alba, which is majority-owned by Bahrain’s sovereign wealth fund, signed a draft agreement with Egypt’s Metallurgical Industries to explore building an aluminum refinery. 

The Arab Investment Co.: TAIC, the pan-Arab sovereign fund with a $1.2 billion portfolio, has hired Saudi Arabia’s Jadwa Investment to help it reallocate about $1 billion as part of its strategic overhaul to pursue higher returns.

Oman Investment Authority: Future Fund of Oman, an affiliate of OIA, launched a lending portfolio for small and medium enterprises.

🏭 Energy Finance: ADNOC, led by JP Morgan, plans to line up more than $10 billion in debt financing from local and international banks as it moves forward with the acquisition of Australian fossil fuel producer Santos, Bloomberg reports.

📊 Index Member: Adnoc Gas will be added to the FTSE Emerging Index later this month, boosting liquidity through greater exposure to international investors.

🏝️ Shining Star: Egyptian-listed Emaar Misr for Development, will build a new tourism project on the Red Sea coast worth $18.6 billion in collaboration with companies from both Saudi Arabia and the UAE. 

💰 Borrowing Bonanza: Kuwait has borrowed a total of $4 billion from the local market to fund projects since it began issuing bonds two months ago, the Arabic language daily Al-Anba reports.

📈 Saudi Surge: Foreign investors are increasing exposure to Saudi Arabia’s stock market, citing low valuations and steady oil price expectations as reasons for renewed interest in the kingdom’s battered equities, Bloomberg reports.

🏡 Dirham Draw: Dubai real estate brokers are targeting British buyers, betting a weaker dirham will attract demand for homes from investors seeking value amid currency shifts, Reuters reports.

💎 Dubai Bling: A select group of Indian entrepreneurs have transformed the retail gold market in Dubai, amassing $9.5 billion in wealth, but their glitzy showrooms are at risk from recent regulatory changes in India, Bloomberg reports.

🤝 Legal Alliance: Negotiations are underway between Tel Aviv-based law firms Meitar and Arnon, Tadmor-Levy, which, if successful, would create Israel’s largest firm.

UAE President Sheikh Mohamed bin Zayed has pledged support for the upcoming launch of K2 Think, an open-source AI reasoning model developed by Abu Dhabi’s Mohamed bin Zayed University of Artificial Intelligence in partnership with G42. Sheikh Tahnoon bin Zayed, UAE National Security Advisor and Chairman of the Artificial Intelligence and Advanced Technology Council, praised the collaboration as a significant achievement in the UAE’s AI vision. 

Jordan’s King Abdullah II met with Sheikh Mohamed in Abu Dhabi on Sunday. The UAE President also met with Prince Rahim Al-Hussaini Aga Khan, the global spiritual leader of the Ismaili community known as Aga Khan V, on Sunday.

Sheikh Khaled bin Mohamed, Abu Dhabi Crown Prince and Chairman of the Abu Dhabi Executive Council, chaired a meeting of the Executive Committee of the ADNOC Board of Directors on Monday to review the group’s financial performance. 

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, met Dr. Ghassan Salamé, Lebanon’s Minister of Culture, on Saturday in Abu Dhabi. Sheikh Abdullah met Joe Saddi, Lebanon’s Minister of Energy and Water, on Sunday. Sheikh Abdullah also held a phone call with Yvette Cooper to congratulate her on her appointment as the U.K.’s Secretary of State for Foreign, Commonwealth and Development Affairs.

Prince Badr bin Abdullah bin Farhan Al Saud, Saudi Arabia’s Culture Minister, met with France’s First Lady Brigitte Macron and French Minister of Culture Rachida Dati for a performance of French and Saudi music at the Palace of Versailles on Friday.

Zachary Cefaratti, founder of Dubai-based boutique advisory firm Dalma Capital, has emerged as a pivotal figure linking Gulf investors with Silicon Valley, leveraging regional demand for artificial intelligence and data centers, the Financial Times reports.

Mohamed Abdulnabi Sanad was appointed by the National Bank of Bahrain as Head of Business Banking within its Retail Banking Division.

Suresh Ferdinandusz has been appointed Director of Operations for Anantara World Islands Dubai Resort

🎻 New Season: Oman’s Royal Opera House Muscat has released details of its new season, running from October to May, with a program of more than 50 events, including the world premiere of grand opera production “Sinbad: The Omani Sailor.” Other highlights include operas “Tosca” and “Don Pasquale,” as well as family shows including a screening of “The Lion King,” with a live orchestra, The National reports. Saudi singer Rabeh Saqer and Lebanon’s Diana Haddad lead the concert lineup.

Sept. 8-9, Abu Dhabi. Hili Forum 2025. Global thought leaders come together to discuss ongoing economic and geopolitical challenges. St. Regis Saadiyat.

Sept. 8-10, Dubai. WHX Tech 2025. Participants explore the latest trends in health care. Dubai World Trade Center.  

Sept. 9, Dubai. Envision. An international conference on artificial intelligence organized by Emirati telecommunications firm du. Atlantis The Royal. 

Sept. 9-11, Riyadh. Index Saudi Arabia. A trade event that connects interior designers, architects, and buyers with brands, products, and developers. Riyadh Front Exhibition and Conference Center. 

Sept.10-11, Dubai.  PPP Mena Forum. A conference that seeks to foster private and public partnerships (PPP) in industries including infrastructure, energy, healthcare, transportation and information technology. Jumeirah Emirates Towers.

Sept. 12-14, Abu Dhabi. International Real Estate & Investment Show. A three-day event spotlighting the latest investment opportunities across the Middle East, Europe and the Asia Pacific regions. ADNEC.

Sept. 15-17, Abu Dhabi. The Riyadh Infrastructure Projects Center. The event will host representatives from over 25 countries discussing global infrastructure innovation, investment, and sustainable development. Riyadh International Convention and Exhibition Center.

Sept. 15-17, Dubai. ISM Middle East. A conference on emerging trends and advancements shaping the sweets and snacks industry. Dubai World Trade Center. 

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers.The Agenda, Dubai Media City.

Sept. 30-Oct. 2, Abu Dhabi. Global Rail and Transport Infrastructure Exhibition and Conference. An international event dedicated to the rail transport sector. ADNEC.

UNITED KINGDOMS

Saudi Arabia and the U.K. have inked £360 million ($484 million) in joint investment deals at the Great Futures Summit in London, the flagship event of a year-long campaign aimed at boosting economic ties. The new deals build on £3.7 billion ($4.97 billion) worth of agreements and announcements between the two countries since 2024, Bloomberg reports. Among the highlights, London-based venture capital firm Lexham Partners and the investment banking arm of Riyadh-based Arab National Bank will launch a $200 million fund to back growth-stage companies in the Middle East. London-based Salica Investments also plans to start a second $75 million Salica Oryx Fund to deploy capital in the kingdom.

FRAGILE RECOVERY

Syria’s war-battered economy is now suffering its worst drought in decades, slashing wheat harvests and drying up irrigation wells. Farmers report yields at a fraction of prewar levels, forcing the country to import up to 70% of its wheat while half the population faces food insecurity. Shrinking rivers from neighboring Lebanon have worsened the water shortage, devastating crops and fisheries. Experts warn that without urgent adaptation, Syria risks losing much of its farmland. “The land is missing the water,” small-farmer Mansour Mahmoud Al-Khatib told the Associated Press.

G42: Khazna Data Centers, a G42 company and the UAE’s largest data center operator, received a $2.6 billion credit facility from Abu Dhabi Commercial Bank and First Abu Dhabi Bank to help expand its operations. 

Public Investment Fund: Salic International Investment Co., the PIF’s food and agriculture investment arm, sold an 11% stake in Brazilian chicken producer BRF to help remove a regulatory hurdle for the company’s merger with Beef producer Marfrig Global Foods, Bloomberg reports.

Public Investment Fund: The PIF-backed Jada Fund of Funds has published a paper on how Saudi Arabia’s PE and VC ecosystem are laying the foundations for sustainable growth in line with Vision 2030 through a value creation model. 

ADNOC: EU antitrust regulators are expected to pause their investigation into ADNOC’s $17 billion bid for German chemicals company Covestro to give the EU more time to gather information on the deal, Reuters reports. 

Masdar: Masdar CEO Mohamed Jamel al-Ramahi met with Montenegro’s Minister of Energy and Mining Admir Šahmanović in Abu Dhabi during his official visit to the UAE this week. The pair discussed opportunities for investment in Montenegro’s energy sector.

Oman Investment Authority: Denmark’s PowerCon has signed a deal with Omani R&D firm MoonRock to build power stations at Sohar Port as part of Oman’s effort to decarbonise its container terminals, according to Asyad Shipping, a subsidiary of OIA.

🤖 Robot Factory: Abu Dhabi-based alternative investment company, Infini Capital has extended a $1 billion credit facility to China’s UBTech Robotics to fuel its global expansion, including a new research center and “super-factory” in the Middle East.

📦 Shiny Fleet: Emirates NBD has signed a $350 million financing deal with Emirates Airline for the purchase of two long-range freighter aircrafts from Boeing.

🔋 Electric Experience: Aldar Properties will develop a 5,000 sqm build-to-suit Tesla facility on Abu Dhabi’s Yas Island, featuring 170 dedicated parking spaces with 20 V4 Tesla Supercharger stalls.

💵 BuyBack Time: Kuwait Projects Company, a private investment company, will repurchase $1 billion of its 2019 bonds maturing in 2026 and 2027 to optimize its debt structure.

🤝 Deep Pockets: Kuwait’s Capital Markets Authority has licensed BlackRock Advisors (UK) as an investment adviser, further growing BlackRock’s presence in the Gulf, where it has offices in Abu Dhabi, Riyadh, and Doha, Reuters reports. 

✈️ Looking East: Qatar Airways will deepen its presence in China by adding a second daily Doha–Shanghai flight this winter and signing a cargo partnership with Alibaba’s Cainiao, Bloomberg reports.

🏝️ Major Developments: Oman Tourism Development Company announced new strategic partnerships and showcased major tourism projects to strengthen infrastructure, expand hospitality and enhance visitor experiences.

💸 Help Home: Egypt will issue new bonds targeted at its citizens living abroad, especially in the Gulf, to diversify debt sources and help plug its budget deficit, Finance Minister Ahmed Kouchouk told Asharq.

🚢 Grocery Delivery: DP World will launch its “Atlas” Morocco–U.K. and North Europe shipping service in November 2025, cutting fruit and vegetable export times to the U.K. by up to two days.

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, has approved 2,971 new homes for Emiratis since the start of the year, an investment of more than AED2 billion  ($544 million), WAM reports.

Qatar’s Emir Sheikh Tamim received a phone call from Bahrain’s King Hamad bin Isa Al-Khalifa on Wednesday. Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, visited the 22nd Abu Dhabi International Hunting and Equestrian Exhibition taking place at ADNEC until September 7.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, appointed Razan Khalifa Al Mubarak as Special Envoy of the Minister of Foreign Affairs for Nature on Thursday.

Sheikh Mohammed bin Saud bin Saqr, Crown Prince of the northern UAE emirate of Ras Al Khaimah, met Stephen Anderson, Director of the World Food Programme Office in the UAE and the Programme’s Representative to the Gulf Cooperation Council states, at Nad Al Habayeb Majlis in RAK.

Sheikh Dr Sultan bin Mohammed Al Qasimi, Ruler of the UAE emirate of Sharjah, issued a decree to form the Sharjah Council for the Rights of Persons with Disabilities, which he will chair. 

Burak Özdemir, the celebrity Turkish chef also known as CZN Burak, announced that he has cut ties to his businesses in Dubai without sharing further details.

Fatima Al-Banawi, the Saudi actress and director, has been named Montblanc’s brand ambassador. Al-Banawi previously appeared in Estee Lauder’s 2023 campaign “Together We Shine,” celebrating Arab women.

Reem Hazzazi has become Saudi Arabia’s first international weightlifting referee.

📚 Great Reads: This year is shaping up as an important moment for Arab authors, according to The National, which has shared a list of 11 new English-language novels, memoirs and poetry collections worthy of attention. Spanning Egypt, Palestine, Morocco, Lebanon and beyond, the books vary in style and subject from family drama to political critique.

Aug. 30-Sept. 7, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX). The premier event for hunting, falconry and equestrian enthusiasts in the Middle East. ADNEC.

Sept. 1-6, Dubai. Dubai Fashion Week. This annual exhibition brings designers, buyers and fashionistas from around the world for a crowded schedule of events. Dubai Design District.

Sept. 4, Kuwait, Qatar and Bahrain. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 5, UAE and Oman. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 2-4, Riyadh. Global Water Expo. Bringing together the full value chain of water, wastewater and environmental services. Riyadh Front Exhibition & Conference Center.

Sep. 3, Dubai. Middle East Retail Forum. Business executives, buyers, sellers and government officials mix for the annual conference. JW Marriott Hotel Marina.

 Sept. 5, New York: Bloomberg Power Players. Conference on the business of sports. Bloomberg Headquarters. 731 Lexington Ave.

Sept. 8-9, Abu Dhabi. Hili Forum 2025. Thought leaders will come together to discuss the ongoing global challenges. St Regis Saadiyat.

Sept. 8-10, Dubai. WHX Tech 2025. Participants will explore the latest trends in health care and gain practical insights on the changing sector. Dubai World Trade Center.  

Sept. 9, Dubai. Envision. An international conference on artificial intelligence organized by Emirati telecommunications firm du. Atlantis The Royal. 

Sept. 9-11, Riyadh. Index Saudi Arabia. A trade event that connects interior designers, architects, and buyers with brands, products, and developers. Riyadh Front Exhibition and Conference Center. 

Sept.10-11, Dubai.  PPP Mena Forum. A conference that seeks to foster private and public partnerships (PPP) in industries including infrastructure, energy, healthcare, transportation and information technology. Jumeirah Emirates Towers.

Sept. 12-14, Abu Dhabi. International Real Estate & Investment Show. A three-day event spotlighting the latest investment opportunities across the Middle East, Europe and the Asia Pacific regions. ADNEC.

Sept. 15-17, Abu Dhabi. The Riyadh Infrastructure Projects Center. The event will host representatives from over 25 countries discussing global infrastructure innovation, investment, and sustainable development. Riyadh International Convention and Exhibition Center.

Sept. 15-17, Dubai. ISM Middle East. A conference on emerging trends and advancements shaping the sweets and snacks industry. Dubai World Trade Center. 

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers. The Agenda, Dubai Media City.

Sept. 30-Oct. 2, Abu Dhabi. Global Rail and Transport Infrastructure Exhibition and Conference. An international event dedicated to the rail transport sector. ADNEC.

F1 DEAL

Bahrain’s sovereign fund, Mumtalakat and Abu Dhabi’s CYVN Holdings became the full owners of Formula One’s McLaren Racing on Tuesday in a transaction that is reportedly valued at as much as $5 billion. The team issued a statement that confirmed the transfer of all shares that were previously held by MSP Sports Capital, funds managed by O’Connor Capital Solutions, Ares Sports, Media and Entertainment funds, and Caspian Funds. Bahrain sovereign wealth fund Mumtalakat will remain the majority shareholder with CYVN holding a non-controlling stake, Reuters reports. It comes amid an on-track resurgence for McLaren, with drivers Oscar Piastri and Lando Norris sitting in first and second place after winning 12 out of 15 races this season. 

SOCCER BID

Saudi’s Prince Al-Waleed bin Talal is reported to be in early talks to acquire a 75% stake in Al-Hilal Football Club from the Public Investment Fund, potentially reshaping the landscape of sports privatization in the kingdom. The other 25% of Al-Hilal is held by a non-profit organization largely funded by Prince Al-Waleed, Bloomberg reports. As part of Crown Prince Mohammed bin Salman’s push to commercialize the Saudi Pro League, the kingdom has poured money into star signings, including Cristiano Ronaldo’s move to Al-Nassr, and global broadcasting deals. Al-Hilal, one of Saudi Arabia’s most decorated clubs, is one of four that the PIF holds stakes in.

ADQ: Etihad Airways CEO Antonoaldo Neves said in an interview with Reuters on Tuesday that the Abu Dhabi airline, which is owned by the Abu Dhabi sovereign wealth fund, has no timeline for going public as it enjoys enough resources to “self-fund” its $20 billion growth plans for the next decade.

ADQ: AD Ports Group, majority owned by ADQ, announced a major dredging agreement between its Karachi Gateway Terminal and Van Oord, a Netherlands-based global leader in dredging and marine contracting, to expand the flow of trade through the group’s port terminals in Pakistan.

International Holding Company: RIQ, the AI-native reinsurance platform and a subsidiary of the IHC, signed an agreement with ADNOC to develop a preferred reinsurance partnership targeting an allocation of over $500 million in risk coverage within the coming decade. (WAM)

Aramco: Intella, a Saudi-based artificial intelligence start-up, secured $12.5 million from investors including Aramco’s venture capital fund. The capital will be used to widen its offerings and fund its expansion in the Middle East and North Africa region.

TAQA: A consortium led by Abu Dhabi National Energy, known as TAQA, secured funding for greenfield power plant projects in Saudi Arabia worth $4 billion. The group includes Japanese power generation company Jera Co and AlBawani Capital, a subsidiary of Riyadh-based AlBawani Holding.

Public Investment Fund: China’s Baoshan Iron and Steel said in a statement that work is progressing on the $4 billion integrated steel plate manufacturing complex in Saudi Arabia, which is being developed in a joint venture with the PIF and Saudi Aramco. The complex will have a production capacity of 2.5 million tons.

Investment Corporation of Dubai: Dubai’s Kerzner International Holdings, which is owned by Investment Corporation of Dubai, is expanding its One&Only hospitality brand internationally, with plans for a resort and $10 million serviced homes in Fiji, as well as its first U.S. locations, including in Montana and New York, Bloomberg reports.

💲 Debt Raise: Saudi Arabia is on course for a record year of issuances after it sold $5.5 billion of international Islamic bonds on Tuesday to help plug its budget deficit, Bloomberg reports. 

💰 High Demand: UAE’s biggest lender, First Abu Dhabi Bank, launched a $750 million low-carbon energy bond, with an order book exceeding $2.3 billion.

🏭 Regional Expansion: Industrial gases and engineering giant Linde has completed its acquisition of Airtec, one of the largest industrial gas companies in the Middle East. 

✈️ New Look: Saudi Arabian low-cost airline flynas secured an Islamic financing deal worth $134.4 million from Saudi Awwal Bank to support the acquisition of its new fleet of narrow-body aircraft.

🚕 Town Car: UAE mobile car rental platform WheelsOn raised $12.5 million in new funding from private investors, including partners of Xploration Capital, valuing the startup at $30 million.

💺 Royal Passengers: Amman-listed airline Royal Jordanian aims to carry four million passengers in 2025, an 8% increase from 2024, as it plans new routes to boost passenger numbers, CEO Samer Majali told state-owned Al Mamlaka TV.

⚖️ Business Disputes: The Dubai International Financial Centre Courts launched a new Mediation Service Centre and notary service that will serve as an alternative dispute resolution pathway.

🩺 Health Wealth: Saudi Arabia and the UAE made 92% of the almost 400 deals within the Gulf’s healthcare sector over the past four years, according to JLL.

⛏️ Spare Repair: Heilongjiang Tianyouwei Electronics, a Chinese automotive components manufacturer, plans to establish a wholly-owned subsidiary in Morocco with an investment of $75 million.

UAE President Sheikh Mohamed bin Zayed met with Saudi Crown Prince Mohammed bin Salman during a visit to Riyadh on Wednesday. The UAE President, accompanied by a high-level delegation including Sheikh Tahnoon bin Zayed, UAE National Security Advisor, was welcomed by the Crown Prince on arrival at King Khalid International Airport.

Saudi Crown Prince Mohammed bin Salman received a phone call from French President Emmanuel Macron on Tuesday and the pair discussed the situation in Palestine.

Sheikh Tahnoon bin Zayed, UAE National Security Advisor, in the presence of Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, met with Larry Fink, Chairman and CEO of BlackRock, and congratulated him on his appointment as Interim Co-Chair of the World Economic Forum’s Board of Trustees.

Qatar’s Emir Sheikh Tamim received a phone call from Canada’s Prime Minister Mark Carney on Tuesday.

Lt. Gen. Sheikh Saif bin Zayed, UAE Deputy Prime Minister and Minister of Interior, met with Sheikh Zayed bin Hamad, Head of the National Anti-Narcotics Authority, at the Ministry of Interior HQ in Abu Dhabi on Tuesday.

Sheikh Humaid bin Rashid, Ruler of the UAE emirate of Ajman, received on Tuesday at the Ruler’s Court Shihab Al Faheem, Ambassador of the UAE to Japan and Commissioner General of the UAE Pavilion at Expo 2025 Osaka.

Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Group CEO of ADNOC, was named CEO of the Year on Tuesday for his outstanding achievement in the chemical industry by the Independent Commodity Intelligence Services.

William Reichert has been appointed as a partner at the Dubai office of international law firm Pinsent Masons.

Dr. Nadia Rashid Al Mazrouei, Associate Professor at the College of Pharmacy at the University of Sharjah and Chair of ISPOR UAE Chapter, was elected Vice President of the International Pharmaceutical Federation Council during its annual meeting in Copenhagen, Denmark.

🐪🐪Seeing Double: The cloned offspring of Mabrokan, considered to be one of the most valuable and beautiful camels in history, made an appearance at the Abu Dhabi International Hunting and Equestrian Exhibition on Tuesday. The famed camel’s cells were used to clone 11 calves in total, with two of them put on display at the exhibition to showcase the UAE Biotech Research Center’s work preserving prized camels for future generations. 

Aug. 30-Sept. 7, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX). The premier event for hunting, falconry and equestrian enthusiasts in the Middle East. ADNEC.

Sept. 1-6, Dubai. Dubai Fashion Week. This annual exhibition brings designers, buyers and fashionistas from around the world for a crowded schedule of events. Dubai Design District.

Sept. 4, Kuwait, Qatar and Bahrain. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 5, UAE and Oman. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 2-4, Riyadh. Global Water Expo. Bringing together the full value chain of water, wastewater and environmental services. Riyadh Front Exhibition & Conference Center.

Sep. 3, Dubai. Middle East Retail Forum. Business executives, buyers, sellers and government officials mix for the annual conference. JW Marriott Hotel Marina.

 Sept. 5, New York: Bloomberg Power Players. Conference on the business of sports. Bloomberg Headquarters. 731 Lexington Ave.

Sept. 8-9, Abu Dhabi. Hili Forum 2025. Thought leaders will come together to discuss the ongoing global challenges. St Regis Saadiyat.

Sept. 8-10, Dubai. WHX Tech 2025. Participants will explore the latest trends in health care and gain practical insights on the changing sector. Dubai World Trade Center.  

Sept. 9, Dubai. Envision. An international conference on artificial intelligence organized by Emirati telecommunications firm du. Atlantis The Royal. 

Sept. 9-11, Riyadh. Index Saudi Arabia. A trade event that connects interior designers, architects, and buyers with brands, products, and developers. Riyadh Front Exhibition and Conference Center. 

Sept.10-11, Dubai.  PPP Mena Forum. A conference that seeks to foster private and public partnerships (PPP) in industries including infrastructure, energy, healthcare, transportation and information technology. Jumeirah Emirates Towers.

Sept. 12-14, Abu Dhabi. International Real Estate & Investment Show. A three-day event spotlighting the latest investment opportunities across the Middle East, Europe and the Asia Pacific regions. ADNEC.

Sept. 15-17, Abu Dhabi. The Riyadh Infrastructure Projects Center. The event will host representatives from over 25 countries discussing global infrastructure innovation, investment, and sustainable development. Riyadh International Convention and Exhibition Center.

Sept. 15-17, Dubai. ISM Middle East. A conference on emerging trends and advancements shaping the sweets and snacks industry. Dubai World Trade Center. 

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers. The Agenda, Dubai Media City.

Sept. 30-Oct. 2, Abu Dhabi. Global Rail and Transport Infrastructure Exhibition and Conference. An international event dedicated to the rail transport sector. ADNEC.

ENERGY REVIVAL

Syria has resumed oil exports for the first time in 14 years, shipping 600,000 barrels of heavy crude from the Mediterranean port of Tartus, after western sanctions were lifted. The shipment, aboard the Nissos Christiana tanker, under a deal with B Serve Energy, affiliated with global trader BB Energy, offers a rare boost to the war-ravaged economy. Transitional President Ahmed Al-Sharaa is courting Gulf allies and foreign investors to rebuild the energy sector, Bloomberg reports. This year, Damascus struck agreements with Saudi firms to revive its energy sector and sealed an $800 million deal with Dubai’s DP World to redevelop the port of Tartus and expand logistics hubs across Syria. 

HOME OWNERSHIP

Saudi banks could offload as much as $48 billion in mortgages to the Saudi Real Estate Refinance Co. by 2030, as the kingdom launches its first residential mortgage-backed securities. The SRC, which is wholly owned by the Public Investment Fund, recently executed its first RMBS transaction following regulatory approvals, Bloomberg reports. The move is a step toward boosting liquidity and bank lending in the kingdom, which is seen as central to Saudi Arabia’s economic transformation agenda. The SRC has also forged partnerships with global asset managers and domestic institutions to deepen the real estate financing market. It comes as home ownership in the kingdom has risen to 65.4% of families, surpassing this year’s target, boosted by initiatives to support access to mortgages.

Mubadala Capital: Miami-based U.S. wealth advisory firm Corient, which is backed by the Abu Dhabi sovereign wealth fund, said on Tuesday it will acquire European wealth advisory firms Stonehage Fleming and Stanhope Capital Group, bringing more than $214 billion in client assets under its umbrella, Reuters reports. The deals will create one of the world’s biggest ultra-high-net-worth wealth managers. Corient is a subsidiary of Toronto-based CI Financial’s U.S. wealth business which was taken private by Mubadala Capital last month.

Oman Investment Authority: Chinese and Omani firms, backed by Oman’s sovereign wealth fund, launched a $75 million joint venture to expand electric vehicle sales and charging infrastructure in the country.

International Holding Company: Egypt’s Ministry of Petroleum and Mineral Resources signed two memoranda of understanding with International Resources Holding, a subsidiary of IHC, covering cooperation in mining and financing.

⛽ Energy Renewal: Abraj Energy Services secured over $220 million in contract extensions from Occidental Oman for four drilling rigs.

💲 Capital Business: Dubai-based hospitality startup Seraya raised $1.8 million in a seed funding round led by a Saudi family office and Germany’s DLL to help its expansion in Dubai’s short-term rental market.

🤝 New Market: Indian fintech start-up TransBnk raised $25 million to fund its expansion in the Middle East and Southeast Asia through Series B round led by Bessemer Venture Partners.

🛍️ Expanding Footprint: UAE conglomerate Majid Al Futtaim opened its 100th retail store in Egypt, the first Carrefour in Suez, raising its investments in Egypt to $2.5 billion.

💰 Go Ahead: Kuwait International Bank has received regulatory approval to launch an Islamic bonds programme of up to $1.5 billion.

🛢️ No Business: Both Saudi Aramco and Iraq state oil marketeer SOMO have halted oil exports to India’s Nayara Energy refinery after it was sanctioned by the European Union over Russian backing, Bloomberg reports.

⛏️ Digging Deep: A consortium by QatarEnergy, TotalEnergies, and Congo’s SNPC won the 1,000 square kilometer offshore Nzombo exploration permit near Pointe-Noire in Republic of the Congo.

₿ Digital Apartments: Developer RAK Properties formed a strategic partnership with Hubpay, an ADGM-regulated fintech company, to allow international clients to purchase properties in the UAE emirate of Ras Al Khaimah using digital assets.

🏦 Upgrade Office: Geneva-based Banque de Commerce et de Placements has upgraded its Dubai Representative Office into a fully operational branch, with Massimo Cangini appointed as Senior Executive Officer to lead the Dubai Advisory Office.

📈Close Watch: Investors are closely monitoring Marketing Home Group’s debut on Saudi Arabia’s main exchange today following a $109 million IPO as a key test for valuations amid volatile markets.

UAE President Sheikh Mohamed bin Zayed ordered the urgent dispatch of a search and rescue team from the Abu Dhabi Civil Defence Authority, the National Guard, and the Joint Operations Command to support rescue efforts after a 6.0-magnitude earthquake struck eastern Afghanistan.

Saudi Arabia’s King Salman approved awarding the second-class medal of merit to eight Saudi citizens and one resident who have donated blood 50 times.

Qatar’s Emir Sheikh Tamim announced the Qatar Award for Localization in the Private Sector to promote nationalization targets.

Noura Al Kaabi, UAE Minister of State at the Ministry of Foreign Affairs, told The National’s Editor-in-Chief Mina Al-Oraibi in an interview in Mosul that UAE President Sheikh Mohamed bin Zayed moved quickly to support UNESCO in rebuilding the 12th century Al-Nuri Mosque because he wanted “the culture of life, the culture of hope, to defeat the culture of death” spread by ISIS. 

Ray Dalio, the billionaire founder of Bridgewater Associates, told The Financial Times that the U.S. is drifting into 1930s-style autocratic politics, warning that other investors are too scared of President Donald Trump to speak up.

Yasir Al Rumayyan, Governor of the Public Investment Fund, has been announced as a featured speaker for the ninth Future Investment Initiative Conference to be held in Riyadh on Oct. 27-30. Also in the line up are Jamie Dimon, Chairman and CEO of JPMorgan Chase; Bruce Flatt, CEO of Brookfield Asset Management; Cristiano R. Amon, President and CEO of Qualcomm Incorporated; Adena Friedman, Chair & CEO of Nasdaq; and Bill Winters, Group CEO of Standard Chartered Bank.

Stephen Howard has been named as the Head of Tourism PR and Communications for the tourism sector at Saudi Arabia’s Royal Commission for AlUla.

Louise Shelford Jenkins has been named as Group General Counsel at Emirates Global Aluminium. Jenkins will be succeeding Katherine Hahm, who stepped down from her role to move back to the United Kingdom. 

Clint Dempsey has been named as Partner in the Global Loans practice of the International law firm Ashurst. Dempsey will be based in Dubai.

Ali Khalpey, Managing Director and Head of Equity Capital Markets at EFG Hermes, will be leaving the firm after nine years to join a U.S. investment bank in the region, Bloomberg reports. 

Mohan Dass Saini, Founder and Managing Director of Dubai-based Sikanta Developments, told Zawya that the developer plans to launch two additional residential projects by mid-2026, with a combined investment of $68 million.

💡 Making Light: Riyadh will be transformed by a spectacular light art festival inspired by the Saudi capital’s rapid transformation. Noor Riyadh, under the umbrella of the Riyadh Art initiative, will run from Nov. 20 to Dec. 6., showcasing installations from local and international artists under the theme “In the Blink of an Eye.”

Aug. 30-Sept. 7, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX). The premier event for hunting, falconry and equestrian enthusiasts in the Middle East. ADNEC.

Sept. 1-3, Cairo. Pharmaconex. Brings together industry leaders to showcase innovations in pharmaceutical manufacturing. Egypt International Exhibition Center. 

Sept. 1-6, Dubai. Dubai Fashion Week. This annual exhibition brings designers, buyers and fashionistas from around the world for a crowded schedule of events. Dubai Design District.

Sept. 4, Kuwait, Qatar and Bahrain. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 5, UAE and Oman. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 2-4, Riyadh. Global Water Expo. Bringing together the full value chain of water, wastewater and environmental services. Riyadh Front Exhibition & Conference Center.

Sep. 3, Dubai. Middle East Retail Forum. Business executives, buyers, sellers and government officials mix for the annual conference. JW Marriott Hotel Marina.

 Sept. 5, New York: Bloomberg Power Players. Conference on the business of sports. Bloomberg Headquarters. 731 Lexington Ave.

Sept. 8-9, Abu Dhabi. Hili Forum 2025. Thought leaders will come together to discuss the ongoing global challenges. St Regis Saadiyat.

Sept. 8-10, Dubai. WHX Tech 2025. Participants will explore the latest trends in health care and gain practical insights on the changing sector. Dubai World Trade Center.  

Sept. 9, Dubai. Envision. An international conference on artificial intelligence organized by Emirati telecommunications firm du. Atlantis The Royal. 

Sept. 9-11, Riyadh. Index Saudi Arabia. A trade event that connects interior designers, architects, and buyers with brands, products, and developers. Riyadh Front Exhibition and Conference Center. 

Sept.10-11, Dubai.  PPP Mena Forum. A conference that seeks to foster private and public partnerships (PPP) in industries including infrastructure, energy, healthcare, transportation and information technology. Jumeirah Emirates Towers.

Sept. 12-14, Abu Dhabi. International Real Estate & Investment Show. A three-day event spotlighting the latest investment opportunities across the Middle East, Europe and the Asia Pacific regions. ADNEC.

Sept. 15-17, Abu Dhabi. The Riyadh Infrastructure Projects Center. The event will host representatives from over 25 countries discussing global infrastructure innovation, investment, and sustainable development. Riyadh International Convention and Exhibition Center.

Sept. 15-17, Dubai. ISM Middle East. A conference on emerging trends and advancements shaping the sweets and snacks industry. Dubai World Trade Center. 

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers. The Agenda, Dubai Media City.

Sept. 30-Oct. 2, Abu Dhabi. Global Rail and Transport Infrastructure Exhibition and Conference. An international event dedicated to the rail transport sector. ADNEC.

TRADE BUDDIES

The UAE, Singapore and New Zealand are leading the launch of a new trade coalition among World Trade Organization members as a counterweight to the Trump administration’s so-called “napkin deals” that have unsettled global trade. Expected to draw in about 10 countries, including Morocco, Rwanda, Malaysia, and Norway, the Future of Investment and Trade Partnership initiative aims to promote rules-based trade, strengthen confidence in digital commerce, and ensure equal treatment for paper and electronic trade documents. “The idea, at the start, is to keep it as a loose coalition to bolster trade openness and international trade rules, but it may evolve into something bigger over time. It is a work in progress,” one of the officials involved in discussions told The Financial Times. The scheme will be formally announced next month, with a virtual launch in November and an in-person gathering planned for July 2026.

RESCUE BID

UAE-based engineering and design company Sidara will acquire Britain’s John Wood Group for $292 million, after a reduced takeover offer was accepted under strict conditions. As part of the deal, Sidara will assume $1.6 billion of Wood Group’s debt and inject $450 million in capital. The agreement depends on Wood Group publishing delayed annual results by October 31 and maintaining debt facilities. The deal was delayed by financial reporting issues which led to an investigation by the UK’s Financial Conduct Authority and repeated deadline extensions, Arabian Gulf Business Insights reports.

Public Investment Fund: Saudi Arabia-based delivery startup Ninja is scouting for investment banks to advise on a potential IPO, Bloomberg reports. The three-year-old company made unicorn status with a valuation of $1.5 billion earlier this year when it raised $250 million from investors including Riyad Capital, the asset management arm of PIF-backed Riyad Bank. The IPO could take place as early as next year.

Public Investment Fund: Savvy Games Group, backed by the PIF, is now turning to China and other Asian markets for its next multibillion-dollar deal, following its U.S. studio Scopely’s acquisition of the Pokémon Go developer Niantic earlier this year, The group’s Chief Executive Brian Ward told The Financial Times.

Abu Dhabi Investment Authority: Indian billionaire Mukesh Ambani’s Reliance Industries, which is backed by ADIA and Saudi Arabia’s PIF, will launch an IPO of its telecom arm Reliance Jio in early 2026, in one of India’s most anticipated stock market listings.

ADNOC: Shareholders in Borouge, majority owned by ADNOC, approved a $660 million interim dividend for the first half of 2025.

⛽ Gas Deal: Egypt’s state-owned EGAS secured $340 million in four deals to boost natural gas exploration in the Mediterranean and Nile Delta with global energy companies, including Shell, Eni, BP and QatarEnergy.

🚂 Train Path: Dubai’s DP World will invest $400 million in Pakistan’s 50 kilometer double-track Karachi Freight Corridor.

🏎️ Fast Cars: The entire collection of 20 rare McLaren supercars owned by the late French-Saudi Arabian billionaire Mansour Ojjeh, who was co-owner of the Formula One team, has been acquired by a single buyer, Reuters reports.

☀️ Changing Life: Morocco launched a floating solar farm near Tangier to reduce water evaporation and generate green energy for the Tanger Med port, with potential for wider adoption.

🔌 Expanding Power: UAE-based Global South Utilities, part of Abu Dhabi’s Resources Investment, launched the Shabwah Solar Plant and expanded the Aden Solar Plant in Yemen, with the goal of supplying clean power to over one million homes by 2026.

🤖 Boom Bust: The New York Times examines the collapse of Builder.ai, the $1.5 billion artificial intelligence company backed by the Qatar Investment Authority, which had offices in London and Dubai.

📈 Transfer Shop: Egypt’s Orascom Construction will migrate its primary listing from Nasdaq Dubai to Abu Dhabi Securities Exchange on September 11, while maintaining its secondary listing on the Egyptian Exchange.   

✈️ High Success: Air Arabia’s steady growth and quieter approach compared to other low-cost carriers, is getting noticed, as it prepares to launch a 45-aircraft operation in Dammam, Saudi Arabia.

Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai, announced the appointment of Ahmed Al Sayegh as the UAE’s Minister of Health, in a cabinet reshuffle. Outgoing Minister of Health AbdulRahman Al Owais will continue to serve in the UAE Government as Minister of State for Federal National Council Affairs.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and UAE Minister of Defense and Deputy Prime Minister visited the Abu Dhabi International Hunting & Equestrian Exhibition at the Abu Dhabi National Exhibition Centre on Saturday. Sheikh Rashid bin Saud, Crown Prince of Umm Al Qaiwain, visited ADIHEX on Sunday.

Emir of Qatar Sheikh Tamim met with Admiral Charles Bradford Cooper, the new Commander of U.S. Central Command (CENTCOM), and his accompanying delegation at the Amiri Diwan in Doha on Sunday.

Douglas Smith, CEO of DP World Canada, told Bloomberg that the logistics giant is negotiating for a contract to operate a new container terminal that will increase the Montreal Port Authority’s capacity by more than 50%.

Jasem Albudaiwi, Secretary-General of the Gulf Cooperation Council, met with the GCC negotiating team for free trade agreements via video conference and urged them to exert more intensive efforts to achieve the common interests and desired benefits for the peoples of the council countries.

Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at the UAE Ministry of Energy and Infrastructure, visited Hong Kong and Korea, where he met with high-level officials and toured sustainability-driven facilities.

👠 New Season: Dubai Fashion Week kicks off today, showcasing a blend of ready-to-wear and couture spring/summer 2026 collections at the Dubai Design District ahead of global shows in New York, London, Milan and Paris. The major platform for regional designers is introducing more international labels and includes a dedicated “Italian Day” on Wednesday, in partnership with the Italian Trade Agency.

Aug. 30-Sept. 7, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX). The premier event for hunting, falconry and equestrian enthusiasts in the Middle East. ADNEC.

Sept. 1-3, Cairo. Pharmaconex. Brings together industry leaders to showcase innovations in pharmaceutical manufacturing. Egypt International Exhibition Center. 

Sept. 1-6, Dubai. Dubai Fashion Week. This annual exhibition brings designers, buyers and fashionistas from around the world for a crowded schedule of events. Dubai Design District.

Sept. 4, Kuwait, Qatar and Bahrain. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 5, UAE and Oman. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 2-4, Riyadh. Global Water Expo. Bringing together the full value chain of water, wastewater and environmental services. Riyadh Front Exhibition & Conference Center.

Sep. 3, Dubai. Middle East Retail Forum. Business executives, buyers, sellers and government officials mix for the annual conference. JW Marriott Hotel Marina.

 Sept. 5, New York: Bloomberg Power Players. Conference on the business of sports. Bloomberg Headquarters. 731 Lexington Ave.

Sept. 8-10, Dubai. WHX Tech 2025. Participants will explore the latest trends in health care and gain practical insights on the changing sector. Dubai World Trade Center.  

Sept. 9, Dubai. Envision. An international conference on artificial intelligence organized by Emirati telecommunications firm du. Atlantis The Royal. 

Sept. 9-11, Riyadh. Index Saudi Arabia. A trade event that connects interior designers, architects, and buyers with brands, products, and developers. Riyadh Front Exhibition and Conference Center. 

Sept.10-11, Dubai.  PPP Mena Forum. A conference that seeks to foster private and public partnerships (PPP) in industries including infrastructure, energy, healthcare, transportation and information technology. Jumeirah Emirates Towers.

Sept. 12-14, Abu Dhabi. International Real Estate & Investment Show. A three-day event spotlighting the latest investment opportunities across the Middle East, Europe and the Asia Pacific regions. ADNEC.

Sept. 15-17, Abu Dhabi. The Riyadh Infrastructure Projects Center. The event will host representatives from over 25 countries discussing global infrastructure innovation, investment, and sustainable development. Riyadh International Convention and Exhibition Center.

Sept. 15-17, Dubai. ISM Middle East. A conference on emerging trends and advancements shaping the sweets and snacks industry. Dubai World Trade Center. 

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers. The Agenda, Dubai Media City.

Sept. 30-Oct. 2, Abu Dhabi. Global Rail and Transport Infrastructure Exhibition and Conference. An international event dedicated to the rail transport sector. ADNEC.

QATAR PLEDGE

Qatar is moving ahead with its pledge to invest $7.5 billion in the Egyptian economy. The funds are earmarked for sectors from agriculture and real estate to tourism. Egyptian Prime Minister Mostafa Madbouly and Qatar Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani led delegations that met on Thursday in the northern coastal city of New Alamein to accelerate implementation of the investment package and broaden economic ties, The National reports. “Qatar’s commitment to pump $7.5 billion into the Egyptian economy has been confirmed,” Egyptian Foreign Minister Badr Abdelatty said after the meeting. “We have… begun this process and outlined specific ventures to be announced in the coming weeks during a grand ceremony that reflects the depth of our relations.”

WILD PURSUITS

The annual Abu Dhabi International Hunting & Equestrian Exhibition, or ADIHEX, returns this weekend with its biggest show ever. Visitors to the ADNEC center will find falcon auctions, camel showcases and a multitude of Arabian horses. Saluki hunting dogs, rifles and knives will be on display, with some 2,000 exhibitors participating in the nine-day fair from 68 countries. Another popular attraction is the dedicated section on RVs, fishing and camping, showcasing outdoor gear, equipment, and vehicles designed for desert and wilderness adventures. The show runs Aug. 30 to Sept. 7.

Oman Investment Authority: The Omani sovereign wealth fund is in talks with Burkina Faso to invest in its mineral, agriculture, and other sectors as part of efforts to diversify the Gulf country’s economy.

ADNOC: The UAE-owned oil company launched a secondary share sale in its ADNOC Logistics and Services subsidiary on Thursday, aiming to raise about $328 million.

TAQA: TAQA Distribution, a subsidiary of Abu Dhabi National Energy Company, which is known as TAQA, has entered into a partnership with Aldar Properties to support the development of sustainable, integrated communities in the UAE’s capital city.

Jada Fund of Funds: The fund published a report entitled, “Beyond Capital: The Saudi Value Creation Story,” exploring how private equity and venture capital firms are driving the country’s diversifying economy.

💼 Mideast Pivot: Hunting Plc announced plans to eliminate a third of its European jobs as it pivots focus to the Middle East, citing reduced drilling prospects in the North Sea.

✈️ Blue Skies: Royal Air Maroc expanded its fleet to 59 aircraft by acquiring a Qatar Airways Boeing 737 Max-8, part of its plan to quadruple capacity ahead of the soccer’s 2025 Africa Cup of Nations and 2030 FIFA World Cup.

🤝 Underwater Link: Iraq signed an agreement with Bahrain’s Batelco to install a marine cable system that will connect the country with all Gulf states.

📊 Rate Reduction: Egypt cut interest rates for the first time since May as inflation cooled and the pound strengthened, aiming to encourage investment and ease debt-servicing pressures.

🏦 Financial Hub: Riyadh’s King Abdullah Financial District, long criticized as underused, is seeing new occupancy as Saudi Arabia advances plans to establish the area as its central financial hub, the Financial Times reports.

🎮 Gaming Revenues: Saudi Arabia accounted for 20% of MENA gaming revenues in 2024, generating $1.2 billion, according to a report by Savvy Games Group.

🪖 Applied Tech: Condor, a Brazilian defense contractor owned by the UAE’s EDGE Group, signed an agreement with Hungary’s 4iG S&D to create a regional hub for advanced “non-lethal” products, encompassing manufacturing, technology transfer, training, and joint research.

🪙 Digital Gold: O Gold, a UAE-based gold and silver ownership app, has partnered with Botim, Astra Tech’s flagship AI-powered fintech company, to let Botim users to buy and sell digital gold.

Sheikh Tahnoun bin Zayed, Deputy Ruler of Abu Dhabi, National Security Adviser, and Chairman of the Abu Dhabi Artificial Intelligence and Advanced Technology Council, has been named as one of Time magazine’s 100 most influential figures in artificial intelligence for 2025.

Sheikha Mahra, the daughter of Sheikh Mohammed bin Rashid, Ruler of Dubai and UAE Vice President, and his wife Zoe Grigorakos, is engaged to be married to Moroccan-American rapper French Montana.

Sheikh Abdullah Al Thani, Qatar’s former Prime Minister and uncle of the Emir, recently sailed into Palma de Mallorca aboard his $100 million Oceanco-built yacht, Yasmine of the Sea, Luxury Launches writes in a profile on the Sheikh.

Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, met with the Australian Business Council in the UAE on Thursday to discuss how the private sector can effectively leverage the opportunities of the UAE-Australia Comprehensive Economic Partnership Agreement that was signed last November. (WAM link)

Ben Harburg, Managing Partner at MSA Capital and the new owner of Saudi Arabia’s Alkholod soccer team, talked to CNBC on why he’s investing in the Saudi Pro League club, and how the developing league is expanding its global reach.

Tanvir Muhammad Haque, was named acting CEO of Abu Dhabi-traded Eshraq investments after its CEO Mohamed Al Sayed Al Hashmi resigned. 

Dr. Ibrahim Almojel was appointed Chairman of the Board in Saudi Arabia for Vennre, a London-based investment firm expanding in the kingdom. Almojel is Co-Founder of Khwarizmi Holding, which invests in startups, private equity and real estate.

Lucas Bellieud, an automobile industry veteran executive, has been appointed Managing Director of Al-Futtaim Electric Mobility.

📺 Desert Dynasty: National Geographic’s “Lost Treasures of Arabia: The Nabataean Kingdom,” dives into the world of the ancient desert traders who turned Jordan’s Petra and many other parts of the Middle East into wonders of engineering, commerce, and culture. The television documentary, which premieres today on Disney+, spotlights Hegra, the age-old city in southwestern Saudi Arabia, whose monumental sandstone tombs, water aqueducts, coins and jewelry provide insights into the innovative society built 2,000 years ago by the Nabataeans.

Aug. 30-Sept. 7, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX). The premier event for hunting, falconry and equestrian enthusiasts in the Middle East. ADNEC.

Sept. 1-3, Cairo. Pharmaconex. Brings together industry leaders to showcase innovations in pharmaceutical manufacturing. Egypt International Exhibition Center. 

Sept. 1-6, Dubai. Dubai Fashion Week. This annual exhibition brings designers, buyers and fashionistas from around the world for a crowded schedule of events. Dubai Design District.

Sept. 4, Kuwait, Qatar and Bahrain. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 5, UAE and Oman. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 2-4, Riyadh. Global Water Expo. Bringing together the full value chain of water, wastewater and environmental services. Riyadh Front Exhibition & Conference Center.

Sep. 3, Dubai. Middle East Retail Forum. Business executives, buyers, sellers and government officials mix for the annual conference. JW Marriott Hotel Marina.

 Sept. 5, New York: Bloomberg Power Players. Conference on the business of sports. Bloomberg Headquarters. 731 Lexington Ave.

Sept. 8-10, Dubai. WHX Tech 2025. Participants will explore the latest trends in health care and gain practical insights on the changing sector. Dubai World Trade Center.  

Sept. 9, Dubai. Envision. An international conference on artificial intelligence organized by Emirati telecommunications firm du. Atlantis The Royal. 

Sept. 9-11, Riyadh. Index Saudi Arabia. A trade event that connects interior designers, architects, and buyers with brands, products, and developers. Riyadh Front Exhibition and Conference Center. 

Sept.10-11, Dubai.  PPP Mena Forum. A conference that seeks to foster private and public partnerships (PPP) in industries including infrastructure, energy, healthcare, transportation and information technology. Jumeirah Emirates Towers.

Sept. 12-14, Abu Dhabi. International Real Estate & Investment Show. A three-day event spotlighting the latest investment opportunities across the Middle East, Europe and the Asia Pacific regions. ADNEC.

Sept. 15-17, Abu Dhabi. The Riyadh Infrastructure Projects Center. The event will host representatives from over 25 countries discussing global infrastructure innovation, investment, and sustainable development. Riyadh International Convention and Exhibition Center.

Sept. 15-17, Dubai. ISM Middle East. A conference on emerging trends and advancements shaping the sweets and snacks industry. Dubai World Trade Center. 

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers. The Agenda, Dubai Media City.

Sept. 30-Oct. 2, Abu Dhabi. Global Rail and Transport Infrastructure Exhibition and Conference. An international event dedicated to the rail transport sector. ADNEC.

GOING, GONE

Sotheby’s, the venerable auction house owned in part by sovereign wealth fund ADQ, is coming to Abu Dhabi in December. Up for sale will be a collection of jewelry, rare watches, real estate and collector cars, Sotheby’s announced today. Auctions will take place from Dec. 2 to Dec. 5 during the same week as the Formula One Grand Prix in Abu Dhabi. Meanwhile, Patrick Drahi, the French telecom magnate who acquired Sotheby’s in 2019 and sold a $1 billion stake to ADQ last year, is the subject this week of a profile in the New Yorker.

CREATIVE CAPITAL

Dubai is putting a $1 million spotlight on artificial intelligence, launching the world’s largest prize for AI-generated films at the 1 Billion Followers Summit 2026 in January. The event will also unveil a $13.6 million creators’ fund, signaling the emirate’s intent to dominate the fast-evolving content economy. Under the patronage of Sheikh Mohammed bin Rashid Al Maktoum, ruler of Dubai and UAE vice president, the summit will honor the winning AI-generated short film, with the top ten entries screened during the gathering. All submissions must be created entirely with artificial intelligence and will be judged on storytelling, creativity, and humanitarian themes, according to Arabian Gulf Business Insight. “The content economy is an economic power with limitless horizons,” said Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs. 

Abu Dhabi Investment Authority: ADIA has committed up to $1.5 billion to logistics and investment firm GLP to help back its growth strategy, Bloomberg reports.

Mubadala: Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, is investing $35 million in UK tech firm Paragraf as part of a $55 million Series C round, a deal that gives Mubadala a 12.8% stake in the graphene-based electronics producer.

The Kuwait Fund for International Development signed a financing agreement with Nicaragua to build a 115-meter bridge over the Prinzapolka River, aimed at improving transport links in the country’s northeastern region.

🛢️ Exploring Africa: Australia’s Invictus Energy will sell a 19.9% stake to Al Mansour Holdings – an investment firm backed by Qatari royal member Sheikh Mansour bin Jassim Al Thani – providing funding for exploration work in Zimbabwe’s Cabora Bassa Basin.

🌀 Blue Money: The UAE’s biggest lender, First Abu Dhabi Bank, has issued a $50 million 5-year Blue Bond, the Gulf’s first by a financial institution, to fund projects in sustainable water management, climate adaptation, and biodiversity conservation.

Investment Bridge: Relay Capital Group and MENA Growth Partners announced an alliance to link U.S. and MENA technology markets, aiming to expand cross-border deal flow.

🏭 Water Power: Water Alliance Ventures, a joint venture between UAE based power and water company AMEA Power and Spanish utility company Cox, will develop a $200 million desalination project in Angola’s city Lunada.

💰 Solar Investors: A consortium of companies including China’s JA Solar, Egypt’s AH Industrial Management, UAE-based Global South Utilities and Bahrain’s Infinity Capital will invest $220 million to build the Atom Solar Egypt facility in the Sokhna Industrial Zone to produce solar cells, panels and energy storage systems.

🕌 Housing Shift: The holy city of Madinah has overtaken Riyadh as Saudi Arabia’s fastest-growing residential market in the first half of 2025, property consulting firm Knight Frank reports.

📈 Alluring Listings: Egypt is weighing new financial incentives to attract large-scale listings on its stock exchange, with Deputy Finance Minister Ahmed Kouchouk saying the move would deepen the market and draw more local and international investors.

⛽ Energy Discovery: Egypt’s Petroleum Ministry announced a new Western Desert oil and gas discovery at the North Lotus Deep-1 well, operated by Agiba Petroleum in partnership with Eni.

🔋 Battery Storage: China’s HiTHIUM won a contract from Saudi Electricity Co. for battery storage in the northwestern province of Tabuk and north central province of Hail.

UAE President Sheikh Mohamed bin Zayed left Egypt on Wednesday after meeting with Egyptian President Abdel Fatah El Sisi.

Saudi Crown Prince Mohammed bin Salman received a written message from Russia’s President Vladimir Putin, on relations between both countries. The message was delivered through Russia’s Ambassador Sergei Kozlov. 

Sheikh Hamdan bin Mohammed bin Rashid, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defense, and Chairman of the Board of Trustees of Dubai Future Foundation approved a pilot project between the foundation and Amazon UAE that allows individuals and small business owners to earn flexible income through on-foot delivery.

Wang Wentao, the Chinese Commerce Minister, said during a visit to Riyadh that China is seeking to strengthen commercial ties with Saudi Arabia after talks on a Gulf-wide free trade agreement stalled. 

Riad Salameh, Lebanon’s former Central Bank Governor, will be released on bail of $20 million, nearly a year after he was detained on embezzlement charges.

Bandar Alkhorayef, Saudi Minister of Industrial and Mineral Resources, held a meeting in Washington with Chris Wright, the U.S. Energy Secretary to discuss ways of enhancing mining cooperation. 

🍷 Vintage Struggle: Lebanon’s once-vibrant wine industry is under strain as vineyards and production facilities that suffered extensive damage from fighting in the Hezbollah-Israel conflict, now face blocked exports, crippling drought and the growing menace of global warming, Reuters reports. To keep business alive, Elias Maalouf, a farmer in southern Lebanon’s Bekaa Valley, has opened up his winery to other ventures, allowing wine lovers and restaurants to pay to make their own mixes from his grapes, or rent his equipment to make arak, a traditional Lebanese grape spirit.

August 29, Dubai. Sustainability Innovation Forum 2025. A forum for construction companies, entrepreneurs, hotel executives, and design leaders. Al Habtoor Palace. 

Aug. 30-Sept. 7, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX). The premier event for hunting, falconry and equestrian enthusiasts in the Middle East. ADNEC.

Sept. 1-3, Cairo. Pharmaconex. Brings together industry leaders to showcase innovations in pharmaceutical manufacturing. Egypt International Exhibition Center. 

Sept. 1-6, Dubai. Dubai Fashion Week. This annual exhibition brings designers, buyers and fashionistas from around the world for a crowded schedule of events. Dubai Design District.

Sept. 4, Kuwait, Qatar and Bahrain. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 5, UAE and Oman. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 2-4, Riyadh. Global Water Expo. Bringing together the full value chain of water, wastewater and environmental services. Riyadh Front Exhibition & Conference Center.

Sep. 3, Dubai. Middle East Retail Forum. Business executives, buyers, sellers and government officials mix for the annual conference. JW Marriott Hotel Marina.

 Sept. 5, New York: Bloomberg Power Players. Conference on the business of sports. Bloomberg Headquarters. 731 Lexington Ave.

Sept. 8-10, Dubai. WHX Tech 2025. Participants will explore the latest trends in health care and gain practical insights on the changing sector. Dubai World Trade Center.  

Sept. 9, Dubai. Envision. An international conference on artificial intelligence organized by Emirati telecommunications firm du. Atlantis The Royal. 

Sept. 9-11, Riyadh. Index Saudi Arabia. A trade event that connects interior designers, architects, and buyers with brands, products, and developers. Riyadh Front Exhibition and Conference Center. 

Sept.10-11, Dubai.  PPP Mena Forum. A conference that seeks to foster private and public partnerships (PPP) in industries including infrastructure, energy, healthcare, transportation and information technology. Jumeirah Emirates Towers.

Sept. 12-14, Abu Dhabi. International Real Estate & Investment Show. A three-day event spotlighting the latest investment opportunities across the Middle East, Europe and the Asia Pacific regions. ADNEC.

Sept. 15-17, Abu Dhabi. The Riyadh Infrastructure Projects Center. The event will host representatives from over 25 countries discussing global infrastructure innovation, investment, and sustainable development. Riyadh International Convention and Exhibition Center.

Sept. 15-17, Dubai. ISM Middle East. A conference on emerging trends and advancements shaping the sweets and snacks industry. Dubai World Trade Center. 

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers. The Agenda, Dubai Media City.

Sept. 30-Oct. 2, Abu Dhabi. Global Rail and Transport Infrastructure Exhibition and Conference. An international event dedicated to the rail transport sector. ADNEC.

LIFTING LEBANON

Qatar, Saudi Arabia, and other Gulf states are weighing investments in a new economic zone in southern Lebanon. The initiative, presented by U.S. officials in Beirut on Tuesday, aims to provide jobs for members of the Hezbollah organization, which agreed to a ceasefire with Israel last November after a year of fighting. “The money will come from the Gulf,” Ambassador Tom Barrack, U.S. Special Envoy to Syria, told reporters after meeting President Joseph Aoun. “Qatar and Saudi Arabia are partners and are willing to do that… if we’re asking a portion of the Lebanese community to give up their livelihood.”

CHINA FUND

Abu Dhabi-based BlueFive Capital and China International Capital Corp.’s private equity arm are preparing a new fund to support Chinese companies aiming to expand in the Middle East. The proposed investment vehicle will target sectors where Chinese firms can build up operations across the Gulf region, leveraging both capital and regional market access, Bloomberg reports. While details regarding the fund’s size and timeline remain undisclosed, the move reflects growing financial collaboration between Chinese investors and Gulf economies. The planned fund is positioned to facilitate business expansion by offering both strategic and financial resources to participating Chinese companies.

Public Investment Fund: Savvy Games, which is owned by the Saudi sovereign wealth fund, cited this summer’s Esports World Cup in its 2025 Annual Report for making strides in the three pillars of the company’s mission: Esports, game development and publishing, and building a gaming ecosystem in the kingdom.

ADNOC: The UAE’s biggest oil producer ADNOC will supply Indian Oil Corp. over 2 million tons of LNG annually under long-term deals of 15 years that make it ADNOC’s largest LNG customer by 2029 while supporting India’s plan to boost gas use, Bloomberg reports.

Mubadala: Paragraf, a U.K. developer of “graphene electronics” in which a Mubadala subsidiary holds a minority stake, raised $55 million in a Series C funding round to provide cash for acquisitions.

Norges Bank Investment Management: Norway’s sovereign wealth fund has divested holdings in Israel’s four largest banks, Hapoalim, Leumi, Mizrahi-Tefahot and First International, as well as in U.S. construction equipment maker Caterpillar

💸 Funding Round: UAE-based education tech platform Cointel raised $7.4 million in a funding round led by Avalanche and Sugafam to help the company expand in the U.S.

💶 Islamic Loans: Maalexi, a  B2B food and agriculture platform, secured a shariah-compliant credit facility of up to $20 million from Dubai based Amwal Capital Partners.

💳 Cashless Dubai: Dubai’s Finance Department and General Directorate of Identity and Foreigners Affairs signed a draft agreement setting a goal for 90% of government and private sector financial transactions to be carried out through digital means.

🛡️ Security Deal: Kuwait-based Agility, through its Menzies Aviation unit, acquired U.S.-based G2 Secure Staff for $305 million, doubling its American footprint and rebranding the company under the Menzies name.

🕌 Knowledge Center: Saudi Arabia’s Knowledge Economic City secured $81 million from Riyad Bank to complete the remaining residential component of its Al-Alya’a project in Madinah.

🌐 Saudi Digital: Advanced Communications and Electronics Systems Co. in Saudi Arabia is considering a stake sale, Bloomberg reports.

🏦 Citi Shakeup: Citigroup has restructured its EMEA Debt Capital Markets team and hired former JPMorgan banker Rob Cascarino as part of the leadership changes, Bloomberg reports.

💺 Plane Dining: Morocco has transformed two retired Airbus planes in the city of Agadir into luxury restaurants serving traditional cuisine to boost tourism ahead of the African and World Cup tournaments.

🤱 People Power: Dubai’s population is about to surpass 4 million, doubling in less than 15 years, according to the Dubai Statistics Centre.

Sheikha Fatima bint Mubarak, wife of the late UAE President Sheikh Zayed bin Sultan, who is known as “Mother of the Nation,” participated in a ceremony on Tuesday to mark Emirati Women’s Day. Sheikha Fatima serves as Chairwoman of the General Women’s Union, President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation. 

Prince Jalawi bin Abdulaziz, Governor of Najran province in southwestern Saudi Arabia, received Ambassador of Malta Clive Aguilina Spagnol to the kingdom on Tuesday.

Islam Abdel Azim Azzam has been appointed as Chairman of the Egyptian Exchange stock market for a one-year term, succeeding Ahmed El Shiekh.

James Sadler has been named Head of Debt Capital Markets and Structured Finance at Oman Investment Bank. Sadler was previously Director of Capital Markets and Financing at HSBC Saudi Arabia.

Inderpreet Singh was named Head of Sales at UAE-based Mashreq bank, as part of a set of appointments that includes Abdeslam Bennani as Head of Trading, Salman Amjad as Head of Asset and Liability Management, and Abdulaziz Kashwani as General Manager of the bank’s Mashreq Securities unit.

🎞 Next Dune: Abu Dhabi will once again serve as a principal shooting location for the upcoming third installment of Denis Villeneuve’s sci-fi fantasy Dune. The emirate, which has hosted more than 180 international shoots, said in a press release that it will increase cashback rebates, as part of an effort to gain recognition as a global filming hub with unique landscapes and strong production incentives. The new Dune movie is scheduled for release in December 2026.

August 29, Dubai. Sustainability Innovation Forum 2025. A forum for construction companies, entrepreneurs, hotel executives, and design leaders. Al Habtoor Palace. 

Aug. 30-Sept. 7, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX). The premier event for hunting, falconry and equestrian enthusiasts in the Middle East. ADNEC.

Sept. 1-3, Cairo. Pharmaconex. Brings together industry leaders to showcase innovations in pharmaceutical manufacturing. Egypt International Exhibition Center. 

Sept. 1-6, Dubai. Dubai Fashion Week. This annual exhibition brings designers, buyers and fashionistas from around the world for a crowded schedule of events. Dubai Design District.

Sept. 4, Kuwait, Qatar and Bahrain. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 5, UAE and Oman. Prophet Muhammad’s Birthday. Observed as a public holiday with offices closed.

Sept. 2-4, Riyadh. Global Water Expo. Bringing together the full value chain of water, wastewater and environmental services. Riyadh Front Exhibition & Conference Center.

Sep. 3, Dubai. Middle East Retail Forum. Business executives, buyers, sellers and government officials mix for the annual conference. JW Marriott Hotel Marina.

 Sept. 5, New York: Bloomberg Power Players. Conference on the business of sports. Bloomberg Headquarters. 731 Lexington Ave.

Sept. 8-10, Dubai. WHX Tech 2025. Participants will explore the latest trends in health care and gain practical insights on the changing sector. Dubai World Trade Center.  

Sept. 9, Dubai. Envision. An international conference on artificial intelligence organized by Emirati telecommunications firm du. Atlantis The Royal. 

Sept. 9-11, Riyadh. Index Saudi Arabia. A trade event that connects interior designers, architects, and buyers with brands, products, and developers. Riyadh Front Exhibition and Conference Center. 

Sept.10-11, Dubai.  PPP Mena Forum. A conference that seeks to foster private and public partnerships (PPP) in industries including infrastructure, energy, healthcare, transportation and information technology. Jumeirah Emirates Towers.

Sept. 12-14, Abu Dhabi. International Real Estate & Investment Show. A three-day event spotlighting the latest investment opportunities across the Middle East, Europe and the Asia Pacific regions. ADNEC.

Sept. 15-17, Abu Dhabi. The Riyadh Infrastructure Projects Center. The event will host representatives from over 25 countries discussing global infrastructure innovation, investment, and sustainable development. Riyadh International Convention and Exhibition Center.

Sept. 15-17, Dubai. ISM Middle East. A conference on emerging trends and advancements shaping the sweets and snacks industry. Dubai World Trade Center. 

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers. The Agenda, Dubai Media City.

Sept. 30-Oct. 2, Abu Dhabi. Global Rail and Transport Infrastructure Exhibition and Conference. An international event dedicated to the rail transport sector. ADNEC.

generating ai

With ample resources to run power-hungry AI servers, Saudi Arabia is plunging into the worldwide race to build massive data centers. Humain, an artificial intelligence firm owned by the kingdom’s Public Investment Fund, has started construction on its first set of data centers and plans to launch operations early next year. Driving the facilities will be  semiconductors from U.S. chipmakers, including 18,000 of Nvidia’s latest AI chips in centers at Riyadh and Dammam, Bloomberg reports. “It depends on the governance and the protocols and the approval of the U.S. government, and these are formalities that we are going to start going through very, very soon,” Humain CEO Tareq Amin told the news agency.

angola angle

The UAE is going deep into Angola. On a state visit to the southern African nation, which holds substantial supplies of diamonds, copper and oil, UAE President Sheikh Mohamed bin Zayed sat beside Angolan President João Lourenço to witness the signing on Monday of a free-trade deal between the two countries. Dr. Thani Al Zeyoudi, the UAE’s Minister of Foreign Trade, said the Comprehensive Partnership Trade Agreement and other accords signed during the trip would generate bilateral returns reaching $10 billion a year by 2033. Among the areas for cooperation covered in the deal are artificial intelligence, banking, agriculture, tourism and energy.

Public Investment Fund: The Saudi sovereign wealth fund raised its U.S. equity holdings to $23.8 billion in the second quarter from $20.6 billion a year earlier, shifting away from technology stocks into chips and healthcare.

Mubadala: UAE-based property tech firm Holo raised $22 million in a Series A funding round led by Saudi Arabia’s Impact46, with participation from Mubadala and Dubai Future District Fund.

Saudi Real Estate Refinance Co.: The firm, which is owned by the PIF, launched the kingdom’s first residential mortgage-backed securities, creating a new asset class to deepen housing finance liquidity and investment options.

Masdar: The Abu Dhabi-owned renewable energy company is in talks to sell its 50% stake in rooftop solar venture Emerge Energy as it redirects resources toward larger-scale projects, Bloomberg reports.

🎮 Game Support: Impact46, a Saudi-based investment firm, has made its largest entertainment and gaming investment in the kingdom by acquiring local game studio Kammelna, creator of the popular digital Baloot card game for $53 million.

🌐 Data Funds: Qatar’s IT company Meeza secured a $219 million Islamic-based loan from Qatari-listed Dukhan Bank to build a 44-megawatt data center.

💰 Fast Track: Dubai-based Fern Hospitality Ventures  has launched a $100 million fund, managed by Dalma Capital, to invest in global dining and leisure brands, raising $15 million within the first 24 hours, Arabian Business reports.

☎️ Satisfied Customer: Verint, an Israeli-founded firm that automates customer service functions, has agreed to be acquired by private equity firm Thoma Bravo in an all-cash transaction valued at approximately $2 billion.

💸 Golden Gate: Oman will launch a golden visa program this week, joining other Gulf states in offering long-term residency options designed to attract foreign investors.

🇵🇰  Gas Delay: Pakistan intends to request that Qatar defer delivery of liquefied natural gas for five years, citing weak domestic demand and rising import expenses, Bloomberg reports.

⛽ LNG Dubai: Drydocks World, a DP World company, has secured an Engineering, Procurement, and Construction contract from AMIGO LNG, a joint venture between Texas-based Epcilon LNG LLC and Singapore-based LNG Alliance Pte Ltd., to build the world’s largest Floating Liquefied Natural Gas liquefaction facility at Drydocks World’s yard in Dubai. (WAM link)

💳 Secure Transfer: ADGM has set up its first platform to test and develop quantum-based technology that makes sensitive data transfers more secure, collaboration with the ADGM Academy, Technology Innovation Institute, Hub71, and ASPIR.

 💵 Lower Value: Dubai-based Sidara cut its takeover bid for Scotland-based Wood Group by about 14% valuing the engineering and consulting firm at about $280 million amid a U.K. regulatory probe into into its operations, Reuters reports.

UAE President Sheikh Mohamed bin Zayed traveled to Egypt on Monday where he met President Abdel Fattah El-Sisi in Alamein City.

Qatar’s Emir Sheikh Tamim bin Hamad received a phone call from French President Emmanuel Macron in which the two leaders discussed relations between their countries, as well as the Gaza and Ukraine conflicts.

Nabil Al Rantisi was appointed Group CEO of Dubai-based Shuaa Capital, which announced plans earlier this month to launch new investment funds and reactivate its investment banking platform.

Mark Wyllie was appointed CEO for Emirates Industry for Camel Milk & Products, a producer of fresh camel milk.

Victor Mourad, Co-Head of CEEMEA Debt Financing at Citi, told Zawya that the GCC debt activity is expected to increase in the coming months as regional liquidity continues to drive issuance by sovereigns, banks, and corporates.

⛪ ​​Island Cross: Archaeologists in Abu Dhabi have unearthed a stucco plaque inscribed with a Christian cross at a seventh-century monastery site on Sir Bani Yas Island, the first major excavation there in over 30 years. The monastery, first discovered in 1992, is linked to the Church of the East and the newly found cross reflects the deep spiritual traditions of monks who lived in contemplation and asceticism, according to the Department of Culture and Tourism. The discovery highlights the UAE capital’s early Christian heritage while reinforcing Abu Dhabi’s efforts to showcase its history of religious coexistence.

Aug. 22-24, Southampton, N.Y. Milken Institute Hamptons Dialogues. Three-day conference will feature White House Middle East envoy Steve Witkoff, Pershing Square’s Bill Ackman, Carlyle’s David Rubenstein and comedian Jerry Seinfeld.

Aug. 23-24, Riyadh. New Global Sports Conference. Showcasing how esports can create new global opportunities. Four Seasons Hotel Riyadh.

Aug. 24, Riyadh. Esports World Cup. Finale to seven-week gaming championship with $70 million in prizes to be awarded. Boulevard City.

August 29, Dubai. Sustainability Innovation Forum 2025. A forum for construction companies, entrepreneurs, hotel executives, and design leaders. Al Habtoor Palace. 

Aug. 30-Sept. 7, Abu Dhabi. Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX). The premier event for hunting, falconry and equestrian enthusiasts in the Middle East. ADNEC.

Sept. 1-3, Cairo. Pharmaconex. Brings together industry leaders to showcase innovations in pharmaceutical manufacturing. Egypt International Exhibition Center. 

Sept. 1-6, Dubai. Dubai Fashion Week. This annual exhibition brings designers, buyers and fashionistas from around the world for a crowded schedule of events. Dubai Design District.

Sept. 2-4, Riyadh. Global Water Expo. Bringing together the full value chain of water, wastewater and environmental services. Riyadh Front Exhibition & Conference Center.

Sep. 3, Dubai. Middle East Retail Forum. Business executives, buyers, sellers and government officials mix for the annual conference. JW Marriott Hotel Marina.

 Sept. 5, New York: Bloomberg Power Players. Conference on the business of sports. Bloomberg Headquarters. 731 Lexington Ave.

Sept. 8-10, Dubai. WHX Tech 2025. Participants will explore the latest trends in health care and gain practical insights on the changing sector. Dubai World Trade Center.  

Sept. 9, Dubai. Envision. An international conference on artificial intelligence organized by Emirati telecommunications firm du. Atlantis The Royal. 

Sept. 9-11, Riyadh. Index Saudi Arabia. A trade event that connects interior designers, architects, and buyers with brands, products, and developers. Riyadh Front Exhibition and Conference Center. 

Sept.10-11, Dubai.  PPP Mena Forum. A conference that seeks to foster private and public partnerships (PPP) in industries including infrastructure, energy, healthcare, transportation and information technology. Jumeirah Emirates Towers.

Sept. 12-14, Abu Dhabi. International Real Estate & Investment Show. A three-day event spotlighting the latest investment opportunities across the Middle East, Europe and the Asia Pacific regions. ADNEC.

Sept. 15-17, Abu Dhabi. The Riyadh Infrastructure Projects Center. The event will host representatives from over 25 countries discussing global infrastructure innovation, investment, and sustainable development. Riyadh International Convention and Exhibition Center.

Sept. 15-17, Dubai. ISM Middle East. A conference on emerging trends and advancements shaping the sweets and snacks industry. Dubai World Trade Center. 

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers.The Agenda, Dubai Media City.

Sept. 30-Oct. 2, Abu Dhabi. Global Rail and Transport Infrastructure Exhibition and Conference. An international event dedicated to the rail transport sector. ADNEC.