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Riders from UAE Team Emirates-XRG, including German rider Nils Politt, are seen wearing the world’s first cycling helmet developed using generative AI, made by UAE AI powerhouse G42 and manufacturer MET, during the ongoing Tour de France. (Dario Belingheri/Getty Images)

The Daily Circuit: Saudi fund eyes NY tower + ADIA invests in Egis

Investor Liaison

Mubadala Capital Hires Ophir Shmuel as head of Business Development

NEW chiefs

Barclays names El Dabag, Mezher as Co-CEOs for the Middle East

Prince Salman bin Hamad Al Khalifa, Bahrain’s Crown Prince and Prime Minister, greets Oscar Piastri of Australia and team McLaren in the pit lane during Britain’s F1 Grand Prix at Silverstone Circuit on Sunday. (Jayce Illman/Getty Images)

The Daily Circuit: Barclays names Co-CEOs for Mideast + ACWA’s new strategy

Sheikh Tahnoon bin Zayed, UAE National Security Advisor, paid a visit to Saudi Crown Prince Mohammed bin Salman at Al-Salam Palace in Jeddah on Thursday. In a show of sportsmanship, Sheikh Tahnoon wore the scarf of the kingdom’s Al Hilal soccer team, which knocked Manchester City, the team owned by Sheikh Mansour bin Zayed, Sheikh Tahnoon’s brother and the UAE Vice President, out of the FIFA Club World Cup 2025 on Monday. (Saudi Press Agency)

The Daily Circuit: Gamers head for Riyadh + Halal tourism boom

AI HOSPITAL

Cleveland Clinic Abu Dhabi picks G42’s Peng as new Chairman

tech foothold

Thales advances Mideast strategy with Saudi defense projects

Archer Aviation's Midnight aircraft is tested in the skies above Abu Dhabi, with Sheikh Zayed Grand Mosque in the background. (Archer Aviation)

The Daily Circuit: G42’s Peng to chair Cleveland Clinic Abu Dhabi

bike, run, swim

Saudi Arabia’s SURJ eyes investment in pro triathlon tour

ready to eat

Saudi delivery startup Ninja reaches $1.5 billion valuation

The Daily Circuit: Saudi PIF seeks triathlon stake + Aroya launches Med cruise

DEal slowdown

Aramco, ADNOC cutting back on M&A amid decline in oil prices

laying tracks

UAE’s Etihad Rail aims to upgrade dilapidated network in Africa

Fans of Saudi soccer club Al Hilal celebrate during the FIFA Club World Cup 2025 round 16 match against Manchester City at Camping World Stadium in Orlando, Florida, on Monday. Hilal stunned commentators when they knocked out the defending champions during extra time in the seven-goal thriller. (Waleed Zein/Anadolu via Getty Images)

The Daily Circuit: Etihad Rail eyes Africa + Oil drop curbs M&A

stoking growth

Foreign direct investment in Saudi Arabia bounces back

AVIATION REFORM

Egypt to open 11 key airports to private sector investment

Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed met Russian President Vladimir Putin on the sidelines of the Supreme Eurasian Economic Council meeting on Friday in Minsk, Belarus. (WAM)

The Daily Circuit: Saudi FDI bounces back + PAL Cooling sold

Flying Boxes

Abu Dhabi launches test flight for drone parcel delivery service

The Daily Circuit: Kuwait’s Trolley IPO + ADQ seeks Limagrain stake

YOUNG BOSSES

Saudi Arabia bets on younger CEOs to steer new corporate era

Quick Hits

stoking growth

Foreign direct investment in Saudi Arabia bounces back

The kingdom has been prodding trade partners to invest more heavily amid low oil prices that have led to growing budget deficits

Wang Dongzhen/Xinhua via Getty Images

Khalid Al-Falih, Saudi Arabia's Minister of Investment

By
Jonathan H. Ferziger
June 30, 2025
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Saudi Arabia appears to be rebounding from a slowdown in foreign investment that has strained government budgets and forced cuts in some of the kingdom’s most ambitious construction projects.

First-quarter figures released on Sunday showed that inflows of foreign direct investment reached $6.4 billion, a 24% jump from the same period in 2024 and the best start to a year since 2022.

Saudi Arabia has been prodding trade partners to invest more heavily in the kingdom amid low oil prices that have led to growing budget deficits.

Slowing FDI over the past three years is enabling the UAE to overtake Saudi Arabia this year in the value of awarded construction projects, Bloomberg reports, citing data provided by the Middle East Economic Digest.

Halfway through 2025, the UAE has approved an estimated $31 billion in contracts, compared to Saudi Arabia’s $20.6 billion. If the trend continues, it will be the first time the UAE comes out ahead in awarded contracts since 2018.

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AVIATION REFORM

Egypt to open 11 key airports to private sector investment

Backed by the World Bank, the country aims to modernize its aviation infrastructure and reach the goal of attracting 30 million tourists annually

AMIR MAKAR/AFP via Getty Images

Emirates Boeing 777-200 aircraft connected to a jet bridge for boarding on the tarmac at Cairo International Airport in Cairo

By
Omnia Al Desoukie
June 30, 2025
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Egypt is preparing to open up the operations of 11 major airports to private investment, aiming to modernize the country’s aviation infrastructure and reach its goal of attracting 30 million tourists annually.

Backed by the World Bank’s International Finance Corp., the plan focuses on boosting efficiency and service standards while keeping state ownership intact.

Egyptian President Abdel Fattah Al-Sisi reviewed the strategy over the weekend, endorsing a timeline that begins with offering Hurghada airport on the Red Sea to the private sector by the end of 2025.

The initiative is set to be finalized next summer.

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Flying Boxes

Abu Dhabi launches test flight for drone parcel delivery service

Emirates Post, the UAE mail service, and express delivery provider EMX are among businesses that could use drones to speed packages to customers

Abu Dhabi Investment Office

Package delivery drone in flight

By
Omnia Al Desoukie
June 26, 2025
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Abu Dhabi launched its first test flight for drone parcel delivery, seeking a solution to speed packages through the capital city’s chronic traffic jams.

The pilot project by aviation technology company LODD, announced on Wednesday, took place through a partnership involving the Abu Dhabi Investment Office and investment group 7X.

Emirates Post, the UAE mail service, and express delivery provider EMX are among 7X’s holdings.

In Dubai, the government has been testing a Chinese-made drone to deliver food and medicine.


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YOUNG BOSSES

Saudi Arabia bets on younger CEOs to steer new corporate era

Some 65% of new CEOs are stepping into the role for the first time, and 71% were promoted from within, evidence of growing trust in homegrown talent

Sean Gallup/Getty Images

Woman walking in front of Jareed corporate office

By
Omnia Al Desoukie
June 25, 2025
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​​Saudi Arabia is ushering in a new era of corporate leadership, with the average age of CEOs at top-listed companies falling to 47 in 2024.

Global consulting firm Korn Ferry attributes the shift to the kingdom’s Vision 2030 industrial blueprint, as companies increasingly turn to younger, Saudi-born leaders to drive transformation.

The data shows 65% of newly appointed CEOs are stepping into the role for the first time, and 71% were promoted from within, which the firm said is evidence of growing trust in homegrown talent.

With 88% of recent appointments going to Saudi nationals, Korn Ferry says Saudi Arabia is focused on building a leadership pipeline from within its borders.

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BUSINESS AS USUAL

Mideast airlines resume flights after Iran-Israel truce secured

Oil prices fall, stocks gain amid cautious optimism that the Trump-brokered ceasefire may bring an end to the 12-day Middle East war

Anadolu via Getty Images

Qatar reopened its airspace shortly after Iran's attack on the Al Udeid U.S. military base

By
Jonathan H. Ferziger
June 24, 2025
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After bracing for a prolonged period of flight disruptions, Middle East airlines started to resume their full schedules with the advent of a U.S.-brokered ceasefire to the Iran-Israel war.

Airports in the UAE, Qatar, Bahrain and Kuwait began to resume full operations today, while international carriers were assessing when they could safely restore regular flights.

The truce was secured hours after Iran fired missiles at the Al Udeid U.S. air base in Qatar. The missiles were intercepted without causing damage or injuries.

The break in the 12-day war prompted shares of European airlines to surge on Tuesday, with Deutsche Lufthansa, Ryanair Holdings and British Airways owner IAG all rising 4% or more, Bloomberg reports.

Air France-KLM surged 10% in Paris, and Turkish Airlines advanced 6.7% in Istanbul.

Oil prices fell, meanwhile, and stocks gained amid cautious optimism that the ceasefire negotiated by the Trump administration may bring a resolution to the conflict.

The benchmark Brent crude fell 3.5% to $69 a barrel today, retreating from five-month highs after the U.S. bombed Iranian nuclear facilities on Sunday.

S&P 500 futures rose 0.8%, signaling a second day of gains for the U.S. index, Reuters reports. European stocks advanced 1.3%, while a gauge for Asian shares headed for its biggest gain in more than a month.

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muscle building

Saudi fitness firm Sport Clubs aims to raise $69 million in IPO

As Saudi Arabia’s IPO pipeline heats up, the Sport Clubs listing in Riyadh taps into growing investor interest in lifestyle, health and wellness

FAYEZ NURELDINE/AFP via Getty Images

Logo of Saudi Arabia's Stock Exchange Market

By
Omnia Al Desoukie
June 24, 2025
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Riyadh-based Sport Clubs Company is limbering up for an IPO that will seek to raise $69 million, bringing one of Saudi Arabia’s largest fitness networks into the public eye.

Since 1994, the company has built a strong presence across 18 cities, with 41 men’s gyms under the veteran Body Masters brand and 15 women’s clubs under the newer Body Motions banner.

As Saudi Arabia’s IPO pipeline heats up, the listing taps into growing investor interest in lifestyle, health and wellness.

The company set a price range for its IPO on Riyadh’s Tadawul Exchange between 7 and 7.50 Saudi riyals ($1.87 – $2) per share, according to financial advisor Saudi Fransi Capital.

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washington chat

Vance hosts UAE officials to discuss $1.4 trillion investment

Dr. Sultan Al Jaber, Chief Executive of ADNOC, and UAE Ambassador to the U.S. Yousef Al Otaiba met at the White House with the Vice President

Win McNamee/Getty Images

U.S. President Donald J. Trump received the Order of Zayed from UAE President Sheikh Mohamed bin Zayed last month in Abu Dhabi

By
Omnia Al Desoukie
June 23, 2025
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Abu Dhabi and Washington are working to identify tangible projects that could be bankrolled through the $1.4 trillion package the UAE has pledged to invest in America.

U.S. President J.D. Vance hosted a meeting at the White House on Friday with Dr. Sultan Al Jaber, Chief Executive of ADNOC and Executive Chairman of XRG, and UAE Ambassador to the U.S. Yousef Al Otaiba where the initiative was discussed in detail.

Talk centered on investments in artificial intelligence, semiconductors, energy and manufacturing, The National reports.

The UAE has sought to position itself as a leader in AI infrastructure, developing partnerships and investments with U.S. companies including Microsoft, Nvidia and OpenAI.

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future fallout

Investors see possible oil spike, shipping turmoil after U.S. bombing in Iran

Leaders of the UAE, Saudi Arabia, Qatar and other Gulf states are in close touch to assess the impact of escalating military conflict in the region

JOE KLAMAR/AFP via Getty Images

Saudi Minister of Energy Prince Abdulaziz bin Salman arriving in Vienna, Austria, for OPEC meeting in 2023

By
Jonathan H. Ferziger
June 23, 2025
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Investors are girding for the possibility of more oil price spikes, shipping disruptions and flight cancellations following the U.S. bombing of Iranian nuclear facilities on Sunday.

Goldman Sachs floated a scenario for benchmark crude prices rising more than 40% to $110 a barrel if oil tanker traffic through the Strait of Hormuz is cut in half for a month and supply shortages of 10% continue through the next year.

Brent crude jumped as much as 3% today to its highest level since January.

Air France, Singapore Air, Iberia and Finnair are among the international carriers that have canceled flights to several Gulf destinations this week, including Dubai, Doha and Riyadh.

Investment banks and other international firms that have been building up their presence in the Gulf are reviewing contingency plans for evacuating employees and their families out if the conflict escalates.

Japan’s Mitsubishi UFJ Financial Group has started to pull the families of staff out of locations including Dubai, and will consider evacuating workers if they need to accompany them, Bloomberg reports.

The Mizuho and Sumitomo Mitsui firms are also talking to staff about returning to Japan from offices in Qatar, the UAE and other locations.

Gulf leaders, meanwhile, are in close touch with each other to assess the impact of escalating military conflict in the region.

UAE President Sheikh Mohamed bin Zayed held a round of phone calls on Sunday with Gulf neighbors including Saudi Crown Prince Mohammed bin Salman; Sheikh Mishal Al-Sabah, Emir of Kuwait; Sheikh Tamim Al Thani,  Emir of Qatar, and Oman’s Sultan Haitham bin Tariq.

He also spoke with French President Emmanuel Macron and Italian Prime Minister Giorgia Meloni.

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