Q-FORCE ONE

President Trump is on track to receive a luxury Boeing 747-8 jet donated by Qatar by this summer that will serve as his new Air Force One, after years of delays to the officially contracted replacement aircraft. The Qatari aircraft is being refurbished and retrofitted for presidential use, potentially at significant cost beyond its estimated $400 million value, according to an Air Force statement issued on Wednesday. Trump has described the acquisition as a practical interim solution while the new Air Force One planes remain years behind schedule, even as critics raise concerns about the legalities of accepting such a gift. The statement was released a day after the current Air Force One carrying Trump to Switzerland for the Davos conference had to return to Washington because of an electrical issue, forcing the White House to use a second plane.

CHAT BILLIONS

OpenAI has been courting Middle Eastern investors, including Abu Dhabi’s sovereign wealth funds, as it prepares to raise as much as $50 billion in its latest funding round. CEO Sam Altman recently visited the region to meet with top investors, Bloomberg reports. The ChatGTP maker, which has previously received backing from Abu Dhabi tech investor MGX and is partnering with G42 to build the huge Starlink data center in the emirate, is seeking funds at a valuation of about $750 billion to $830 billion. It comes as competitor Anthropic, which is backed by the Qatar Investment Authority, is also in talks to raise more funds.

L’Imad Holding: Abu Dhabi folded the owner of McLaren Automotive and its stake in Chinese electric-vehicle maker Nio into the new state-owned fund, Bloomberg reports.

Public Investment Fund: Saudi Arabia’s National Infrastructure Fund and AI company Humain agreed on a $1.2 billion financing framework to develop up to 250 MW of AI data center capacity.

Riyadh Air: Saudi Arabia’s new national carrier, which is owned by the PIF, announced that it has launched cargo operations.

Masdar: The UAE-owned sustainable energy company is teaming up with Emirates Utilities Development Co. and Uzbekistan’s Ministry of Energy to develop a massive clean-energy project in the Central Asian nation.

💻 AI Deal: UAE conglomerate Damac Properties secured land and power for about 1GW of U.S. data centre capacity, worth about $12 billion, putting it more than halfway to its U.S. investment target, chairman Hussain Sajwani said at Davos.

💶 Debt Payment: Egypt has paid nearly $5 billion owed to foreign oil and gas companies and aims to cut the remaining debt to $1.2 billion by June 2026, prime minister Mostafa Madbouly said.

🏠 Plot Twist: Developer Object 1 completed a major land acquisition of four waterfront plots on Al Reem Island worth $1.2 billion, advancing its expansion and long-term growth plans in Abu Dhabi.

🛢️ Oil Spending: ​​GCC national oil companies are set to outspend international oil firms over the next two years as they ramp up investment, refocusing on renewables, downstream capacity and diversification, according to S&P Global.

🌧️ Rainy Days: Three scientists have each won grants of up to $1.5 million under the UAE’s cloud seeding program.

🌐 Laser Shift: Israel said its laser-based air defense system will become mobile this year, allowing it to be deployed on vehicles and aircraft as part of efforts to counter rockets and drones more flexibly.

🎓 Educational Expansion: Saudi education provider Almasar Alshamil plans to nearly double its special educational needs centres over the next three years and expand its higher education business following its recent IPO.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, visited the Unmanned Systems Exhibition (UMEX) and the Simulation and Training Exhibition (SimTEX) at ADNEC Centre Abu Dhabi on Wednesday.

Britain’s Prince William is set to arrive inSaudi Arabia on Feb. 9 for a three-day visit celebrating a century of diplomatic relations.

Sheikha Latifa bint Mohammed, Chairperson of the Dubai Culture and Arts Authority, met with Alexander De Croo, Administrator of the United Nations Development Programme (UNDP), in Davos.

U.S. President Donald Trump met with Egypt’s President Abdel Fattah El-Sisi in Davos.

Stella Li, BYD Americas CEO, described the Middle East as a “homeland for innovation” during an interview with Arab News in Davos.

Mohit Gaba was appointed Director, Investment Advisory in Dubai at Klay Group, a boutique financial services firm targeted at ultra-high-net-worth families and institutions.

Yousif Al Hammadi was appointed interim CEO of Tabreed, following former CEO Khalid Al Marzooqi’s retirement in November.

🎤 Whenever, Wherever: Shakira will bring her Las Mujeres Ya No Lloran tour to the UAE, headlining Abu Dhabi’s second Offlimits music festival at Etihad Park on Yas Island on April 4. Having last performed at the same venue in 2011, the Colombian singer’s return to the Emirates has been a long-time coming. One of the most successful Latin artists of her generation, Shakira also has Middle Eastern roots – her father is of Lebanese descent.

Jan. 26-27, Riyadh. Super Return. A private equity & venture capital conference held in Saudi Arabia. Fairmont Hotel. 

Jan. 26-28, Riyadh. Saudi Franchise Expo. The exhibition brings local and international businesses that want to create franchising companies into the kingdom. The Arena.

Jan. 26-30, Dubai. Gulf Food. The world’s largest food and beverage industry event. Dubai World Trade Centre & Dubai Exhibition Centre.

Jan. 29, Dubai. The Great Marketing & Business Minds. In this 4th edition, the event brings the most influential marketing and business leaders for a deep dive into performance-driven marketing, data integration, and the evolving accountability of brand leadership. Pullman Dubai Downtown.

Feb 1-6, Dubai. Dubai Fashion Week. The event showcases the latest collections by global and regional designers and positions Dubai as a major creative hub on the global fashion calendar alongside fashion capitals like New York, London, Milan and Paris. Dubai Design District.

Feb. 1-4, Doha. Web Summit Qatar. Connecting a new generation of founders in the Middle East to investors, journalists and more around the world. Doha Exhibition and Convention Center.

Feb. 2-4, Abu Dhabi. The Abu Dhabi AI Summit. The summit aims to strengthen collaboration between MBZUAI and the U.S. NSF Athena Institute to advance research, entrepreneurship and opportunities in Edge AI. Mohamed bin Zayed University of Artificial Intelligence.

Feb. 2-5, Doha. LNG2026. The 21st International Conference & Exhibition on Liquefied Natural Gas. Qatar National Convention Center. 

Feb. 3, Dubai. World Laureates Summit. Held alongside the World Government Summit, the inaugural event will bring 200 of the world’s top scientific researchers, marking a historic integration of science and government. 

Feb. 3-5, Dubai. World Government Summit. Brings together heads of state, policy makers, top corporate executives to debate global priorities. Madinat Jumeirah. 

Feb. 4-5, Dubai. PropTech Connect Middle East. The Dubai Land Department will host the first regional edition of the real estate technology event. Grand Hyatt Dubai.

Feb. 10-11, Abu Dhabi. Top Advisors & Investors Summit. The event will convene the region’s foremost advisors, financiers, and investors in the UAE capital. TBC

Feb.12-13, Riyadh. PIF Private Sector Forum. The event, in its third edition, aims to support the Saudi Public Investment Fund’s Private Sector Engagement Strategic Initiative. King AbdelAziz International Conference Center. 

DEEP POCKETS

Goldman Sachs is bolstering its ties with Qatar’s sovereign wealth fund through an expanded investment partnership that could reach $25 billion in value. The Qatar Investment Authority plans to channel the money into Goldman Sachs Asset Management funds and co-investments spanning private equity, credit and other alternatives, Bloomberg reports. The deal builds on an existing relationship and positions QIA as a major anchor investor while strengthening Goldman’s footprint in the Middle East. Executives said the partnership is designed to deliver long-term capital deployment, broader deal access and closer collaboration across global markets.

CHOO CHOO

Etihad Rail’s first passenger routes to come online will link Abu Dhabi city with Dubai and the UAE’s east-coast resort city of Fujairah, The National reports. While a date is yet to be announced, anticipation is building for the launch of the service, which is expected to whisk travelers from the UAE capital to Dubai in about one hour and to Fujairah in about 90 minutes. It comes amid a population boom in the UAE which is putting increasing strain on road networks, particularly for commuters traveling between the emirates’ two biggest cities for work and conferences. The first three stations will be Mohamed bin Zayed City in Abu Dhabi, Jumeirah Golf Estates in Dubai and Fujairah’s Sakamkam neighbourhood.

Qatar Investment Authority: The fund is considering a radical overhaul that would see it separate its overseas holdings from its domestic portfolio, Bloomberg reports.

G42: The Abu Dhabi-backed AI company expects shipments of some of the world’s most advanced artificial-intelligence chips from Nvidia, AMD and Cerebras to reach the UAE within months, CEO Peng Xiao told Bloomberg in Davos.

Mubadala: The Mohamed bin Zayed Species Conservation Fund and Mubadala have launched a $3 million, two-year partnership to conserve dugongs and seagrass habitats across the UAE and four other countries. 

Abu Dhabi Investment Authority: India’s ReNew Energy Global has revived plans to delist in the U.S., with CPPIB and ADIA leading after Masdar’s exit from the consortium, as it weighs options including an India listing or staying private amid a suppressed share price..

ADQ: AD Ports Group sold warehouses and a 50-year land lease in Kezad logistics park to Mair Group for $80 million.

Arab Energy Fund: The Arab Energy Fund received approval in China to issue up to $1.4 billion in panda bonds over two years.

📈 Bond Surge: Saudi Arabia has sold more than $20 billion of international bonds since the start of 2026, marking a record January as the government, banks and companies tap global debt markets at an accelerated pace, Bloomberg reports.

💰 Infrastructure Finance: Qatar’s Ras Abu Fontas Power secured about $990 million from Japan Bank for International Cooperation to develop a natural gas‑fired power plant.

💸 Cashed Up: Energy and commodities trader BGN has refinanced with a $400 million revolving credit facility led by the Abu Dhabi Exports Office and First Abu Dhabi Bank.

✈️ Flying Taxis: Oman plans to launch air taxis in 2027 and is taking bids from seven companies to operate the service.

💵 Minimum Wage: The UAE has formally set a minimum monthly wage of of $1,633 for Emiratis working in the private sector, as it further raises targets for the number of nationals required to be employed by mainland companies. 

🏘️ Cheaper Homes: Property prices in Saudi Arabia have fallen for the first time in five years, recording a 0.7% decline in the last quarter of 2025, largely attributed to a 2.2% drop in the residential sector.

📺 TV Business: The UAE is emerging as a key player in global media consolidation, illustrated by merger talks between Abu Dhabi-controlled All3Media and Amsterdam-listed Banijay, which is behind reality TV hits including MasterChef, Arabian Gulf Business Insight reports. 

🌽 Farm Focus: Abu Dhabi-based Al Dahra Holding plans to exit third-party grains and oilseeds trading and refocus on its farming operations across Europe, Africa and the U.S. as part of a strategic overhaul, Bloomberg reports.

UAE President Sheikh Mohamed bin Zayed accepted an invitation from U.S. President Donald Trump to join the new Board of Peace, which aims to develop solutions for rebuilding the Gaza Strip and resolving other global conflicts.

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, said that the UAE came in 10th place globally in the overall ranking of the Global Soft Power Index, announced at the World Economic Forum in Davos.

Sheikha Latifa bint Mohammed, Chairperson of the Dubai Culture and Arts Authority, met with the Bahraini delegation, led by Sheikh Isa bin Salman Al Khalifa, Minister of the Prime Minister’s Court, at the World Economic Forum in Davos.

King Salman of Saudi Arabia chaired a cabinet meeting days after leaving the hospital following medical tests.

Fady Jameel, Chairman of Saudi Arabia’s Art Jameel and Vice Chairman, International, at Abdul Latif Jameel, has been awarded the title of Chevalier in the Order of Arts and Letters by the French Ministry of Culture.

Hashem Alsada was appointed as the new Head of Equities Asset Management of SICO Capital, a provider of asset management, brokerage, and investment banking services in Riyadh.

Hassan Gabry was reelected as Chairman of the Cement Industry Division for the new term at the Federation of Egyptian Industries.

📷 Look Twice: The lava flows, black basalt formations and desert plains of Saudi Arabia’s isolated Harrat Rahat volcanic field will be the inspiration for British fine-art photographer John Balsdon’s first Middle East project. Balsdon will head out later this month with a small film crew, a drone pilot and a Saudi guide to shoot the dramatic landscape, which is set to feature in his ongoing “Always Look Twice” project, which documents wild places. “Saudi Arabia felt like a place of immense creative potential, one that is still largely unexplored from a visual storytelling perspective,” the photographer told Arab News.

Jan. 18-21, Riyadh. Big5 Construct Saudi. Latest trends and opportunities among construction companies operating in KSA. Riyadh Front Exhibition & Conference Center located at ROSHN Front.

Jan. 20-21, Dubai. 2026 BAFT MENA Forum. The event brings the region’s senior executives, influencers and industry experts to explore the forces redefining MENA’s financial ecosystem. Embassy Suites by Hilton Dubai Business Bay.

Jan. 20-22, Abu Dhabi. UMEX 2026. The Unmanned Systems Exhibitions and Conference  showcases the latest advances in autonomous systems, robotics, artificial intelligence, and training simulation. ADNEC.

Jan. 26-27, Riyadh. Super Return. A major private equity & venture capital conference held in Riyadh, Saudi Arabia. The Fairmont Hotel. 

Jan. 26-28, Riyadh. Saudi Franchise Expo. The exhibition brings local and international businesses that want to create franchising companies into the kingdom. The Arena Riyadh Venue for Exhibitions, Riyadh.

Jan. 26-30, Dubai. Gulf Food. The world’s largest food and beverage industry event. Dubai World Trade Centre & Dubai Exhibition Centre.

Jan. 29, Dubai. The Great Marketing & Business Minds. In this 4th edition, the event brings the most influential marketing and business leaders for a deep dive into performance-driven marketing, data integration, and the evolving accountability of brand leadership. Pullman Dubai Downtown.

Feb 1-6, Dubai. Dubai Fashion Week. The event showcases the latest collections by global and regional designers and positions Dubai as a major creative hub on the global fashion calendar alongside fashion capitals like New York, London, Milan and Paris. Dubai Design District.

Feb. 1-4, Doha. Web Summit Qatar. Connecting a new generation of founders in the Middle East to investors, journalists and more around the world. Doha Exhibition and Convention Center.

Feb. 2-4, Abu Dhabi. The Abu Dhabi AI Summit. The summit aims to strengthen collaboration between MBZUAI and the U.S. NSF Athena Institute to advance research, entrepreneurship and opportunities in Edge AI. Mohamed bin Zayed University of Artificial Intelligence.

Feb. 2-5, Doha. LNG2026. The 21st International Conference & Exhibition on Liquefied Natural Gas. Qatar National Convention Center. 

Feb. 3, Dubai. World Laureates Summit. Held alongside the World Government Summit, the inaugural event will bring 200 of the world’s top scientific researchers, marking a historic integration of science and government. 

Feb. 3-5, Dubai. World Government Summit. Brings together heads of state, policy makers, top corporate executives to debate global priorities. Madinat Jumeirah. 

Feb. 4-5, Dubai. PropTech Connect Middle East. The Dubai Land Department will host the first regional edition of the real estate technology event. Grand Hyatt Dubai.

Feb. 10-11, Abu Dhabi. Top Advisors & Investors Summit. The event will convene the region’s foremost advisors, financiers, and investors in the UAE capital. TBC

Feb.12-13, Riyadh. PIF Private Sector Forum. The event, in its third edition, aims to support the Saudi Public Investment Fund’s Private Sector Engagement Strategic Initiative. King AbdelAziz International Conference Center. 

GAS DIPLOMACY

India has signed a $3 billion deal to buy liquefied natural gas from the United Arab Emirates, making it the UAE’s largest LNG customer, as the two countries moved to deepen trade and defense ties. The agreement was struck during a working visit by UAE President Sheikh Mohamed bin Zayed, with both sides pledging to double bilateral trade to $200 billion within six years and pursue a strategic defense partnership, Reuters reports. As per the agreement, Abu Dhabi state firm ADNOC Gas will supply half a million tons of LNG a year to Hindustan Petroleum over 10 years, taking ADNOC’s total contracts with India to more than $20 billion. Indian officials said the defense cooperation would not draw New Delhi into regional conflicts, despite shifting alliances in the Gulf.

TRADE BOT

Abu Dhabi artificial intelligence firm Presight will develop a platform to boost the UAE’s foreign trade capabilities by analyzing real-time data from sources including ports, shipping routes and customs records. The G42 company signed an agreement with the UAE’s Ministry of Foreign Trade, announced on Monday, to create a series of AI-powered tools that will support its mission to be the world’s first AI-driven trade ministry. “The future of trade belongs to economies that can see early and move fast, Mansoor Al Mansoori, Vice Chairman of Presight, said. “By putting real-time insight into the hands of decision-makers, we reduce friction, compress timelines, and help governments and businesses operate with confidence.”

Mubadala: Mubadala Bio’s subsidiary Bioventure Healthcare secured the European Union’s Good Manufacturing Practice certification, a key requirement for enabling pharmaceutical product export to the EU. 

Public Investment Fund: ACWA Power, the PIF-owned Saudi energy utility, bought Engie’s 17.5% stake in Kuwait’s Az Zour independent water and power project, consolidating its ownership in one of the country’s largest utility facilities.

ADQ: AD Ports Group, majority owned by ADQ, signed an agreement with Nigeria to explore collaboration opportunities across ports, logistics, maritime services and digital trade infrastructure.

ADQ: Safeen Drydocks, part of Noatum Maritime, which is owned by ADQ’s AD Ports Group, fully acquired Balenciaga Astilleros Shipyard, one of Spain’s most established shipbuilding and repair facilities, for $13 million.

EDGE Group: UAE defense group EDGE and Qatar’s Barzan Holdings have agreed to form a joint venture to co-develop advanced defense technologies.

🍎 Nutrition Bet: Private equity firm Alta Semper agreed to acquire a majority stake in UAE-based sports nutrition company Nature’s Rule, describing the deal as a step toward scaling the business through a more institutional growth strategy.

💻 Blockchain Bonds: Emirates NBD, Dubai’s largest bank, issued the region’s first Dirham-denominated digital bond, raising $272.3 million.

🏢 Office Expansion: Egyptian developer Marakez secured $63 million from Kuwait Finance House – Egypt to expand the commercial Mindhaus Campus at its District 5 project in New Cairo.

🌱 Charging ahead: Dubai has expanded its EV Green Charger network to 1,860 points across the emirate.

🚇 Metro Link: Dubai’s RTA has invited consultants to bid for designing a 3km Route 2020 metro extension from the Expo 2020 station to Al Maktoum International Airport’s West Terminal.

📈 Economy Performing: The IMF raised its 2026 growth forecast for Saudi Arabia to 4.5% citing higher oil output, strong domestic demand, and ongoing reforms.

💰 Dreaming Big: Northern Graphite’s plan to build a $200 million graphite battery anode plant in Saudi Arabia with Obeikan has fueled an eightfold revenue growth forecast and a sharp rise in its shares.

🍪 Snack Deal: Dubai-listed Unikai Foods received a $35 million cash takeover bid from a Kuwait’s Al Wafir for Marketing Services.

Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, visited the fifth edition of World of Coffee Dubai on Monday at Dubai World Trade Centre.

Sheikh Hamdan bin Zayed, Ruler’s Representative in the Al Dhafra Region, reviewed the outcome of this year’s Liwa International Festival on Monday.

Sheikh Mansoor bin Mohammed, Vice Chairman of the Dubai Health Board of Directors, attended the opening of the annual UAE International Dental Conference and Arab Dental Exhibition on Monday.

Faisal al-Ibrahim, Saudi Arabia’s Investment Minister, said in an interview with Reuters in Davos that the kingdom’s private sector is taking on a larger role in delivering Vision 2030 projects as the government seeks to shift more execution and financing to companies outside the state.

Dr. Thani Al Zeyoudi, UAE Minister for Foreign Trade, led a high-level government and business delegation to the Lualaba Province in the Democratic Republic of Congo for the UAE-DRC Trade and Investment day. 

Nayef Nasser Alnasser was appointed Managing Director of Ithmaar Development Company, succeeding Mohammed Khalil Alsayed.

David Hadley, CEO of UAE-based NMC Healthcare, said that hospitals are increasingly under strain as profit margins shrink and may have to consolidate further to unlock economies of scale.

Rashid Al Dhaheri, an Emirati racing driver, won the opening round of the Formula Regional Middle East Championship, held at Yas Marina Circuit. 

📺 On the Box: Netflix has unveiled its line-up of Arabic releases for 2026, including new seasons of hit reality shows “Love is Blind, Habibi” and “Dubai Bling.” Season 2 of the streamer’s regional adaptation of the global matchmaking show introduces potential couples on either side of a wall to test if they can form a bond without seeing one-another. “Dubai Bling,” now in its fourth season, follows a cast of fashion-obsessed socialites who revel in delivering snappy one-liners like “I’m not playing hard to get, I am hard to get.”

Jan. 18-21, Riyadh. Big5 Construct Saudi. Latest trends and opportunities among construction companies operating in KSA. Riyadh Front Exhibition & Conference Center located at ROSHN Front.

Jan. 20-21, Dubai. 2026 BAFT MENA Forum. The event brings the region’s senior executives, influencers and industry experts to explore the forces redefining MENA’s financial ecosystem. Embassy Suites by Hilton Dubai Business Bay.

Jan. 20-22, Abu Dhabi. UMEX 2026. The Unmanned Systems Exhibitions and Conference  showcases the latest advances in autonomous systems, robotics, artificial intelligence, and training simulation. ADNEC.

Jan. 26-27, Riyadh. Super Return. A major private equity & venture capital conference held in Riyadh, Saudi Arabia. The Fairmont Hotel. 

Jan. 26-28, Riyadh. Saudi Franchise Expo. The exhibition brings local and international businesses that want to create franchising companies into the kingdom. The Arena Riyadh Venue for Exhibitions, Riyadh.

Jan. 26-30, Dubai. Gulf Food. The world’s largest food and beverage industry event. Dubai World Trade Centre & Dubai Exhibition Centre.

Jan. 29, Dubai. The Great Marketing & Business Minds. In this 4th edition, the event brings the most influential marketing and business leaders for a deep dive into performance-driven marketing, data integration, and the evolving accountability of brand leadership. Pullman Dubai Downtown.

Feb 1-6, Dubai. Dubai Fashion Week. The event showcases the latest collections by global and regional designers and positions Dubai as a major creative hub on the global fashion calendar alongside fashion capitals like New York, London, Milan and Paris. Dubai Design District.

Feb. 1-4, Doha. Web Summit Qatar. Connecting a new generation of founders in the Middle East to investors, journalists and more around the world. Doha Exhibition and Convention Center.

Feb. 2-4, Abu Dhabi. The Abu Dhabi AI Summit. The summit aims to strengthen collaboration between MBZUAI and the U.S. NSF Athena Institute to advance research, entrepreneurship and opportunities in Edge AI. Mohamed bin Zayed University of Artificial Intelligence.

Feb. 2-5, Doha. LNG2026. The 21st International Conference & Exhibition on Liquefied Natural Gas. Qatar National Convention Center. 

Feb. 3, Dubai. World Laureates Summit. Held alongside the World Government Summit, the inaugural event will bring 200 of the world’s top scientific researchers, marking a historic integration of science and government. 

Feb. 3-5, Dubai. World Government Summit. Brings together heads of state, policy makers, top corporate executives to debate global priorities. Madinat Jumeirah. 

Feb. 4-5, Dubai. PropTech Connect Middle East. The Dubai Land Department will host the first regional edition of the real estate technology event. Grand Hyatt Dubai.

Feb. 10-11, Abu Dhabi. Top Advisors & Investors Summit. The event will convene the region’s foremost advisors, financiers, and investors in the UAE capital. TBC

Feb.12-13, Riyadh. PIF Private Sector Forum. The event, in its third edition, aims to support the Saudi Public Investment Fund’s Private Sector Engagement Strategic Initiative. King AbdelAziz International Conference Center. 

Public Investment Fund: Saudi Arabia’s sovereign wealth fund sold $5 billion of bonds on Monday in an offering managed by JPMorgan Chase & Co., Citigroup Inc. and Goldman Sachs Group. NEOM, the PIF-backed mega-project in the country’s northwest, has tapped Italian construction giant Webuild for a $4.7 billion project to form a freshwater lake at its Trojena ski resort.

Mubadala: Strata Manufacturing, a maker of aircraft components wholly owned by Mubadala, saw a 40% increase last year compared to 2022 in international shipments to Boeing, Airbus and other international customers.

Abu Dhabi Investment Authority: ADIA and Hong Kong’s New World Development Co. are looking to refinance a $1.2 billion syndicated loan related to the acquisition of three luxury hotels, Bloomberg reports. The three Hong Kong-based hotels associated with the loan include the Renaissance Harbour View Hotel, the Hyatt Regency Hong Kong in Tsim Sha Tsui and the Grand Hyatt Hong Kong.

Qatar Investment Authority: Tajikistan President Emomali Rahmon met with the QIA’s Chief of Investments Sheikh Faisal Bin Thani to discuss “attracting Qatari capital to Tajikistan,” particularly in the fields of energy and facilitating agricultural exports to Qatar.

Oman Investment Authority: The sultanate’s sovereign wealth fund launched a $5.2 billion fund last week to encourage investments in the private sector called the “Oman Future Fund” with a mandate to boost tourism, manufacturing, green energy, maritime resources and technology.

💳 On Credit: Fast Company Middle Eastexamines the high rate of borrowing in the Gulf — and the mental health cost among young people carrying personal debt.

🚄 Mideast Express: Planning for an ambitious rail and sea project connecting Europe and Asia through Israel, which was championed by the Biden Administration, is at risk of being shelved because of Middle East turmoil.

🤖 Saudi Expansion: Microsoft and IBM were among several top tech companies that held talks with Saudi officials in Davos about expanding their operations in the kingdom, focusing on artificial intelligence and the digital economy.

🎮 Game On: UAE-based e-sports network True Gamers plans to establish 150 centers in Saudi Arabia, providing players with immersive experiences and competitions.

🛫 Return flights: European budget carrier Ryanair said it will resume Israel flights Feb. 1 after suspending service in October because of the Gaza war.

🌉 Building Bridges: The Libyan government signed contracts with Egyptian companies to build 11 bridges across the North African country.

🎢 ‘Orlando 2.0’: Saudi Arabia’s Qiddiya, an entertainment and tourism megaproject in Riyadh, plans to open its first destinations next year. 

⚗️ Chemical Bond: Saudi Arabia’s SABIC group said it will go ahead with a joint venture to build a $6.4 billion petrochemical plant in China with Fujian Fuhua Gulei Petrochemical.

☪️ Sukuk Spread: Qatar International Islamic Bank has set a spread of 120 basis points over U.S. Treasuries for its $500 million senior sustainable Islamic Sukuk bonds maturing in January 2029.

⚡ Power Drive: Oman energy company OQ will invest some $2 billion in the development of gas and power plants in the Musandam governorate, as well as managing offshore gas fields.

💼 Mnuchin Bid: Liberty Capital Partners, a private equity fund led by former U.S. Treasury Secretary Steve Mnuchin, is in talks to buy a 25% stake in Israel’s Phoenix Insurance Agencies.

🛢️Kurdish Oil: The Abu Dhabi National Energy Co., known as Taqa, plans to sell its 47% stake in the Atrush oilfield in Iraq’s Kurdish region to Canada’s General Exploration Partners.

🧪 Drug Buyout: India’s Sun Pharma will pay shareholders about $344 million to take full ownership of Israel’s Taro Pharmaceuticals and delist it from the New York Stock Exchange.

📈 Market Makers: Saudi Arabia’s Tadawul Group, which operates the Riyadh stock exchange, plans to buy a 32.6% stake in Dubai Mercantile Exchange for $28.5 million.

💻 Big Data: Cardumen Capital, an Israeli-European venture capital firm, raised $120 million for an early-stage tech fund that will invest in AI, cybersecurity and big data.

⛽  Commercial Crude: Uganda is in final talks with Dubai investment fund Alpha MBM Investments to build a $4 billion refinery for some of its crude oil, a first for the East African hydrocarbons industry.

🪴 Growth Stage: Dubai-based Crysp Farms, a vertical farming startup, raised $2.25 million in a pre-Series A round led by Gate Capital to fund expansion.

UAE President Sheikh Mohamed bin Zayed issued a law establishing the Artificial Intelligence and Advanced Technology Council in his capacity as Ruler of Abu Dhabi. Sheikh Tahnoon bin Zayed, the UAE’s National Security Advisor, will serve as Chairman of the AI council and Crown Prince Khaled bin Mohammed will be Vice-Chairman.

Saudi Arabia’s King Salman, who is known as the Custodian of the Two Holy Mosques, set a minimum four-day holiday for both Eid Al Fitr and Eid Al Adha during a cabinet session this week.

Kuwait’s new Prime Minister, Sheikh Mohammed Al-Salem Al-Sabah, has cleaned house and named a new roster of top cabinet members. Emad Al-Ateeqi was appointed Oil Minister, Anwar Al-Mudhaf is the new Finance Minister and Abdullah Al-Yahya will take up the post of Foreign Minister.

Dubai Crown Prince Sheikh Hamdan bin Mohammed rolled out a $293 million scholarship fund to support Emirati students.

Saudi Minister of Economy and Planning Faisal Alibrahim and World Economic Forum President Børge Brende announced in Davos last week that Saudi Arabia will host a WEF Special Meeting in Riyadh April 28-29 that will focus on global cooperation, growth and energy.

Jamal Al Kishi was named CEO of Deutsche Bank for the Middle East and Africa, replacing Kees Hoving who becomes the bank’s chief country officer for the UAE.

Jane Goodall, the 89-year-old conservationist best known for her work studying chimpanzees, is setting up a regional office for her Roots & Shoots program at Dubai’s Expo City to teach young people how to address environmental challenges.

Japanese tennis star Naomi Osaka has been confirmed for the Mubadala Abu Dhabi Open next month after accepting a wildcard to play in the WTA 500 tournament.

Actor Anthony Hopkins, a two-time Oscar winner, accepted a lifetime achievement award at Saudi Arabia’s Joy Awards ceremony in Riyadh on Monday night.

💄 Saudi Debut: Vogue Arabia is taking over Jeddah’s Al Balad neighborhood, a UNESCO World Heritage site, from Feb. 8 to 9 for a block party celebrating Saudi culture, food and fashion, open to the public. “Hai Vogue” is the first live event the storied fashion magazine is bringing to the kingdom. 

🎭 What’d I Miss?: A touring company of the Broadway musical “Hamilton” is getting rave reviews at the Etihad Arena in Abu Dhabi and is scheduled to run through Feb. 11.

🎞️ Cairo Cabbie: Qatari artist and director Sophia Al-Maria sold the rights to her independent film Beretta, described as “female-centric Taxi Driver set in Cairo,” to producer Uri Singer and Aimee Peyronnet.

🏆 Awards Season: Tunisian director Kaouther Ben Hania has become the first Arab woman to receive two Oscar nominations. Her latest film, the docu-fiction hybrid Four Daughters, has been nominated for Best Documentary Feature Film at the 2024 Academy Awards.

👟  Adventure Park: The Saudi Public Investment Fund unveiled its new water sports and adventure tourism resort called “The Rig” inspired by the design of offshore oil platforms.

Jan. 25-27, Manama, Bahrain: Health/Wellness Expo 2024. Annual gathering of medical professionals and alternative treatment specialists. Exhibition World Bahrain.

Jan. 29-Feb. 1, Dubai, UAE: Arab Health. The biggest trade show in the region for medical devices and healthcare. Dubai World Trade Centre.

Feb. 3-4, Sharjah, UAE: SEF 2024. Sharjah Entrepreneurship Festival holds more than 30 workshops at event aimed at stimulating business development in the emirate. Sharjah Research, Technology and Innovation Park.

Feb. 9-11, Abu Dhabi, UAE: Middle East Comic Con. Nerds unite for the biggest pop culture gathering in the region. Abu Dhabi National Exhibitions Center.

Feb. 21-22, Dubai, UAE: Step Conference. The Dubai edition of the leading tech festival for emerging markets. Internet City.

Feb. 22-23, Miami Beach, FL: FII Priority Miami. A summit on disruptive technology and investment trends hosted by the Future Investment Initiative Institute. Faena Hotel Miami Beach.

Feb. 26-29, Doha, Qatar: Web Summit Qatar. A Middle East edition of the technology crowd mega-event, gathering investors, entrepreneurs and business leaders. Doha Exhibition and Convention Centre. 

Feb. 28-29, Abu Dhabi, UAE: Investopia. A gathering of investors hosted by SALT and Investopia, an investment platform launched by the UAE Ministry of Economy and backed by Mubadala and the Department of Economic Development. St. Regis Saadiyat. 

March 5-6, Doha, Qatar: International LNG Forum. Gathering of industry leaders and key stakeholders to discuss the future of gas in a key export market. InterContinental Doha Beach.