SMART KIDS

The UAE plans to rewrite the future starting in the classroom by making artificial intelligence central to the public school curriculum. Children as young as four years old will be taught about AI, in the hope that future generations develop a “deep understanding of AI from a technical perspective,” Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, wrote on X. The course, to be rolled out for all ages in the 2025-2026 academic year, will cover ethical awareness as well as foundational concepts and real-world applications, state news agency WAM reported. The move is part of a sweeping national ambition to lead the global AI race, Bloomberg reports. The latest announcement aligns with significant investments, including more than $100 billion earmarked for AI infrastructure and backing from global tech leaders. 

ISLAND DREAM

A new $8.8 billion financial oasis is rising in the Maldives with a focus on blockchain and digital assets, and it’s entirely tax-free. MBS Global Investments, the Dubai-based family office of Qatar’s Sheikh Nayef Bin Eid Al Thani, will co-develop the Maldives International Finance Centre  in Malé with the Maldivian government, aiming for completion by 2030, Bloomberg reports. The project promises zero corporate taxes, tax-free inheritance and no residency requirements. It will include key features such as a 3,500-seat conference center, residential and office towers and access to multi-currency and private offshore banking. The project is expected to generate over $1 billion in revenue within five years, a potential lifeline for the Maldives as it grapples with rising external debt and a deteriorating credit rating.

ADQ: AD Ports Group, which is majority owned by ADQ, and Egypt’s General Authority for Suez Canal Economic Zone, have signed a 50-year renewable agreement to develop and operate a 20 sq km industrial and logistics park near Port Said to transform the area into a major trade hub at the entrance of the Suez Canal. The deal, signed in Cairo and witnessed by senior officials from both countries, marks the launch of the KEZAD East Port Said Industrial and Logistics Zone.

Public Investment Fund: India is considering a 10-year tax break and simplified exemptions for the PIF to attract up to $100 billion in infrastructure and energy investments, a similar tax treatment to the country’s agreement with the Abu Dhabi Investment Authority.

Masdar: The UAE’s state-owned renewable energy firm, said on Friday it bought 30% of Athens-based Terna Energy that it didn’t already own at a price of 20 euros a share, giving the Greek company an enterprise value of 3.2 billion euros ($3.5 billion).

Dubai Holding: The investment conglomerate owned by Dubai ruler Sheikh Mohammed bin Rashid plans to list 12.5% of its $5.88 billion Dubai Residential REIT, on the Dubai Financial Market, the city’s first IPO of the year to tap into the real estate boom, Bloomberg reports. 

CDG: Morocco’s state-owned pension investment firm has signed a partnership deal with the city of Casablanca to build a new technology hub that will be called “Casablanca Tech Valley.”

🚀 Missile Sale: The U.S. State Department approved a $3.5 billion missile sale to Saudi Arabia ahead of President Donald Trump’s visit to the Gulf next week.

⚗️ Losing Formula: Saudi chemical company Sabic reported a $320 million first-quarter loss on Sunday, amid slowing sales and restructuring costs. Analysts had predicted the company would report a profit of about $186 million.

📖 Keeping Accounts: Nqoodlet, a Saudi startup whose digital platform aims to streamline financial operations for small and medium-sized businesses, raised $3 million in a seed funding round led by Waad Investments.

📦 Packaging Expansion: Hotpack, a disposable food packaging products supplier in the UAE, is investing $100 million to launch its first North American manufacturing and distribution facility in Edison, New Jersey, set to open in June 2025.

💵 Sustainable Debut: Omniyat, an ultra-luxury real estate developer, raised $500 million through its debut 3-year green Islamic bonds, marking its entry into global debt markets, with listings on Nasdaq Dubai and the London Stock Exchange.

🌎 Climate Friendly: Oman has started building the $1.6 billion Marsa LNG project in Sohar, capital of North Oman, which will be fully powered by solar energy and is set to become the world’s lowest-emission LNG plant.

💰 Tile Floor: Oman plans to impose anti-dumping duties on ceramic tile imports from China and India over below-cost pricing, amid concerns the Gulf may face a flood of cheap Chinese goods due to rising U.S. tariffs.

☀️ Sunny Start: Singapore’s energy company Sembcorp has launched the 588MWp Manah II solar plant in Oman, its largest utility-scale solar project to date and a major step in its Middle East expansion.

🛢️ Oil Question: Saudi Arabia’s refinery investment talks with India have stalled over disagreements on crude supply volumes and pricing, with India seeking a smaller share at discounted rates, Bloomberg reports.

🩺 Health Check: Saudi hospital operator Specialized Medical Co. is planning an IPO in Riyadh, a sign that companies are pressing ahead with fundraising in the kingdom despite global market volatility, Bloomberg reports.

UAE President Sheikh Mohamed bin Zayed received Sheikh Tamim bin Hamad Al Thani, Emir of Qatar, in Abu Dhabi on Sunday. The meeting was attended by Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister, and Chairman of the Presidential Court; Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and UAE National Security Adviser; Lt. Gen. Sheikh Saif bin Zayed, UAE Deputy Prime Minister and Minister of the Interior; Sheikh Theyab bin Mohamed, Deputy Chairman of the Presidential Court for Development and Fallen Heroes’ Affairs; Sheikh Mohammed bin Hamad, Advisor to the UAE President.

Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and National Security Adviser, shared on X that he met with Chuck Robbins, Chairman and CEO of Cisco, to discuss the ongoing partnership and explore future collaborations in artificial intelligence, digital infrastructure, and cybersecurity. Mubadala CEO Khaldoon Al Mubarak was also present at the meeting.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, met on Sunday with Mohammad Yusr Barniyeh, Minister of Finance in the Syrian Transitional Government, and Abd El-Kader al-Husariah, Governor of the Central Bank of Syria, at Qasr Al Shati palace in Abu Dhabi.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and Chairman of the Executive Council, reviewed the latest progress on major strategic road corridors being developed by Dubai’s Roads and Transport Authority to improve traffic flow and enhance mobility across the emirate.

Sheikh Joaan bin Hamad Al Thani, President of the Qatar Olympic Committee, met Will Ahmed, Founder and CEO of Whoop, for a forward-looking discussion on the role of innovation and wearable technology in enhancing athletes’ competitive performance.

Sheikh Shakhboot bin Nahyan, UAE Minister of State, attended the inauguration ceremony of Brice Oligui Nguema, President of the Gabonese Republic, which was held in the capital, Libreville.

Nassef Sawiris, Egyptian industrialist and billionaire investor, said in an interview with The Financial Times that the private equity industry is past its peak and faces a massive challenge in selling off trillions of dollars in assets.

Ahmad al-Kreebani, the CEO of state-owned Kuwait Airways, was fired last week and replaced by Abdulwahab Al-Shatti, Reuters reports. Al-Kreebani had been criticized by Kuwait’s civil aviation authority over safety concerns, the news agency said.

Donald Wuebbles, an expert in atmospheric physics and chemistry who serves as a paid adviser to Neom, has told The Financial Times that he has raised on multiple occasions that plans for the futuristic city could alter weather patterns and the path of wind and sand storms.

Siegfried Nierhaus, Vice President and Head of Development for the Middle East, India, and Africa at H World International, told Arabian Gulf Business Insights that the hotel developer will open multiple new properties in Saudi Arabia, including a branch of its 95-year-old Steigenberger brand.

Fahad Al Qassim, Chairman of Abu Dhabi-listed Eshraq Investments, has resigned to focus on his roles as a board member of Dubai-listed logistics firm Aramex and chairman of Islamic insurer Salama.

Ahmad Al Hussaini has been named acting Global CEO at Richard Attias Associates, Victoria Vincent is the new Global COO, Tina Scheneirdermann has been named Chief Content Officer & Strategy Director, Nadim Jnifen is the Global Head of business development, AJ Amer will be the Managing Director UAE, and Sophie Titolo, Managing Director and Editorial Lead, FII.

✒️ Rhyme and Reason: Abu Dhabi’s televised Arabic poetry competition, which has a 15 million dirham ($4 million) prize pool, is back for its 12th season. “Million’s Poet” is organised by the Abu Dhabi Heritage Authority and promotes Emirati vernacular poetry, known as “nabati,” which dates back to the 14th century. The main winner walks away with 5 million dirham ($1.4 million) and overnight fame among the millions who tune in to watch the competition.

April 25 – May 11, Dubai. Dubai Esports and Gaming Festival. Dubai’s gaming and esports extravaganza brings together global players, creators, fans, and industry leaders. Dubai World Trade Center. 

May 5-6, Abu Dhabi. Governance of Emerging Technologies Summit. Shaping Responsible Governance of AI & Emerging Technologies in a Future Digital Economy. St. Regis Saadiyat Island Resort.

May 5-7, Los Angeles. Milken Institute Global Conference. Business executives, government officials and thought leaders address some of the world’s biggest opportunities and challenges. Beverly Hilton.

May 5-8, Tel Aviv. Future Summit. An invite-only gathering bringing together top global founders, investors, cultural leaders, and policymakers for intimate, off-the-record conversations. Jaffa Hotel.

May 6-7, Dubai. MENA Capital Market Summit. The event will bring together 1,500 businesses, decision-makers and global financial leaders to discuss the capital market. Madinat Jumeirah.

May 6-8, Dubai. Airport Show. Showcasing the latest technological advancements in the airport industry. Dubai World Trade Center.

May 6-8, Dubai, GISEC. The 14th edition of the Middle East and North Africa’s largest cybersecurity event, under the theme “Securing an AI-Powered Future.” Dubai World Trade Center. 

May 12-13, Dubai. Dubai FinTech Summit. Exploring a future where finance is accessible, inclusive, and empowering. Madinat Jumeirah.

May 13, Riyadh. Saudi-U.S. Investment Forum. An invitation-only event to be held during U.S. President Donald Trump’s visit to Saudi Arabia. The forum will bring together government, business, finance and innovation to discuss the next chapter of business between the two countries. Venue TBA.

May 13-14, Dubai. Low Carbon Fuels MENA. The conference promises a space for industry leaders, potential partners, and innovators to discuss potential opportunities and challenges. Sheraton Dubai Creek Hotel & Towers.  

May 13-15, Dubai. CABSAT. The Middle East & Africa’s leading event for content, broadcast, media & entertainment industry professionals looking to leverage the latest technology and innovation in creating the next-gen content. Dubai World Trade Center.

May 13-15, Dubai. World Police Summit. Uniting law enforcement professionals, policymakers, industry leaders, and innovators to redefine the standards of modern policing. Dubai World Trade Center.

May 14-15, Dubai. HODL. Formerly known as the World Blockchain Summit, the event transforms to HODL to incorporate business opportunities, investor connections and regulatory dialogues. Madinat Jumeirah. 

May 16, Milan. Investopia Europe 3rd Edition. Highlighting discussions around transforming the global economy. Featured speakers include Abdulla bin Touq Al Marri, UAE Minister of Economy and Chairman of Investopia, and UAE Minister of State for Entrepreneurship Alia Abdulla Al Mazrouei. Palazzo Mezzanotte.

May 16-17, Tirana, Albania. FII Priority Europe 2025. Saudi Arabia’s Public Investment Fund sponsors a regional business summit focused on Europe and is affiliated with the annual Future Investment Initiative conference in Riyadh. National Theater of Opera and Ballet.

May 20-22, Doha, Qatar. Qatar Economic Forum. Annual conference bringing together Qatari government and business leaders with corporate executives, investors and policymakers from around the world. Media City Qatar.

May 26-27, Abu Dhabi. Building the Future Summit. This Forbes event serves as an exclusive platform for industry leaders, investors, architects, and innovators to explore the latest trends shaping the future of real estate. Louvre Abu Dhabi.

May 29-30, Tripoli, Libya. Building the Future Summit. A Forbes event that is designed to help delegates from Libya understand their investment opportunities, foster strategic partnerships, and showcase key reforms that will drive economic progress. Venue TBA.

BARGAINING CHIPS

The U.S. may ease restrictions on the UAE’s purchase of Nvidia’s advanced semiconductor chips amid preparations for President Donald Trump’s visit to the Gulf this month. While no decision has been made, the issue is considered a powerful bargaining card as the White House seeks greater investment from the UAE’s sovereign wealth funds and tech firms, Bloomberg reports. Trump met in March with Sheikh Tahnoon bin Zayed, the UAE’s National Security Adviser and Chairman of sovereign funds ADIA and ADQ, who visited Washington in part to push for access to Nvidia chips. Access. During Sheikh Tahnoon’s trip, the UAE unveiled plans to spend as much as $1.4 trillion over the next decade on energy, semiconductors, AI infrastructure and manufacturing in the U.S.

MIDAS TOUCH

Emirates airline has signed a deal with Greece that includes a codeshare with national carrier Aegean, expanding access to popular destinations such as Santorini, Mykonos and Rhodes. The deal is the cherry on top of a successful outreach mission for the Greek National Tourism Organization at the Arabian Travel Market in Dubai this week, Greek newspaper To Vima reports. Flydubai, which will already be operating flights to Mykonos, Santorini, and Corfu this season, is looking at introducing new routes by next year and potentially operating off-season flights. Qatar Airways is adding a route to the port city of Thessaloniki and mulling a 15% increase in seats on its long-haul flight from Australia to Athens.

Public Investment Fund: The PIF has raised $1.25 billion through Islamic bonds that were heavily oversubscribed, attracting over $9 billion in investor orders.

Mubadala Capital: The Abu Dhabi asset manager plans to use its $10 billion investment in U.S.-based TWG Global to connect with popular sports franchises such as the Los Angeles Lakers, and U.K.’s Chelsea FC soccer team, benefiting in a similar way to Saudi Arabia’s Public Investment Fund’s association with professional golf and tennis, Global SWF reports.

M42: M42’s Digital Health Solution platform and Reem Hospital have formed a joint venture to launch Nafas, a comprehensive digital mental health platform for Abu Dhabi residents.

💰 Capital Influx: Foreign investment in Gulf stocks has surged, with equity inflows doubling to $60 billion by end-2024 and market capitalization reaching $4.2 trillion, Zawya reports.

💲 Syria Attracts: Syria has signed a $260 million deal with French shipping and logistics group CMA CGM to expand and operate Latakia port, the country’s main maritime gateway, Reuters reports. 

⛏️ Bitcoin Mine: Abu Dhabi-listed Phoenix Group has expanded its bitcoin mining operations in Ethiopia by securing an additional 52MW of power, boosting its total capacity there to 132MW and its global capacity to over 500MW across five countries.

💸 Aid Benefits: U.S. funding for Jordan’s $6 billion desalination project was briefly halted under aid cuts but resumed within two months, with assurances that most of Jordan’s $1.45 billion annual aid package would remain intact.

₿ Crypto Blackouts: Kuwait is cracking down on cryptocurrency miners, blaming them for causing power shortages leading to blackouts, Reuters reports.

⛽ Gas Talks: QatarEnergy, one of the world’s biggest liquefied natural gas suppliers,, is in talks with Japan’s Jera and Mitsui firms for a long-term deal to supply LNG from its North Field expansion project, Reuters reports.

🏦 Mideast Hub: Bank of New York Mellon received a licence to set up a regional headquarters in Saudi Arabia, enabling it to bid on government contracts.

🌐 U.S. Expansion: UAE’s e& Carrier & Wholesale Services has launched e& Wholesale Americas in Miami, expanding its global presence across the Americas, the company said.

⛰️ Investor Magnet: Oman is seeking an additional $10 billion in foreign investment for tourism projects over the next few years, building on the $10 billion already secured since the pandemic to develop hotels and integrated tourism complexes.

UAE President Sheikh Mohamed bin Zayed held a phone call on Thursday with Russian President Vladimir Putin, who thanked him for the UAE’s mediation in a Russia-Ukraine exchange of prisoners last month.

Sheikh Mohammed bin Rashid, Ruler of Dubai and the UAE Vice President and Prime Minister, toured the Arabian Travel Market 2025 conference ahead of its conclusion on Thursday.

Sheikh Tahnoon bin Zayed, UAE National Security Advisor, posted on Instagram that he had a meeting with Tim Ferriss, American entrepreneur and author of “The 4-Hour Workweek,” and entrepreneur Naval Ravikant to discuss the importance of productivity and self-directed learning.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, met Daniel Nobo, President of Ecuador, on Thursday in Abu Dhabi. Sheikh Abdullah bin Zayed, UAE Deputy Prime Minister and Minister of Foreign Affairs, also had a meeting with the Ecuadorian president. 

Sheikh Maktoum bin Mohammed, UAE Minister of Finance and First Deputy Ruler of Dubai, held a meeting in Dubai on Thursday with Masahiro Kihara, President and Group CEO of Mizuho Financial Group.

Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Group Managing Director and Group CEO, visited the Vienna headquarters of OMV. ADNOC and OMV agreed in March to merge their petrochemical units and establish the $60 billion thermoplastics giant Borouge Group International.

MrBeast, a YouTuber and businessman, has signed an agreement with Riyadh Season, in the presence of Saudi entertainment chief Turki Al-Sheikh, to produce exclusive content and appear at next season’s opening ceremony.

Phil Murphy, the New Jersey Governor, met with industry leaders during a privately held meeting of the U.S.-U.A.E. Business Council on Thursday at the Ritz-Carlton in Dubai. 

Elmer Schialer Salcedo, Peru’s Minister of Foreign Affairs, pitched boosting Peru’s $70 million share of South American exports to Saudi Arabia by promoting agricultural products and inviting Saudi investors to a September trade exhibition.

Hend Al Otaiba, former UAE Ambassador to France, reflects in an opinion piece for Khaleej Times on the value of her connection with Léa Solidarité Femmes, a French association supporting survivors of abuse.

🖼️ Art Sale: The latest auction of Middle Eastern & Contemporary Art by Christie’s features an all-star lineup of artists reflecting the diversity of creative influences that shape the region. An exhibition of the sale starts tomorrow at Christie’s Dubai, with bids continuing until May 8, when the online auction wraps up. Leading the listings in a tribute to female artists is Samia Halaby’s “Water Lilies,” with an estimate of $100,000-$150,000.

April 25 – May 11, Dubai. Dubai Esports and Gaming Festival. Dubai’s gaming and esports extravaganza brings together global players, creators, fans, and industry leaders. Dubai World Trade Center. 

May 4 – 7, Los Angeles. Milken Institute Global Conference. Business executives, government officials and thought leaders address some of the world’s biggest opportunities and challenges. Beverly Hilton.

May 5-6, Abu Dhabi. Governance of Emerging Technologies Summit. Shaping Responsible Governance of AI & Emerging Technologies in a Future Digital Economy. St. Regis Saadiyat Island Resort.

May 6-7, Dubai. MENA Capital Market Summit. The event will bring together 1,500 businesses, decision-makers and global financial leaders to discuss the capital market. Madinat Jumeirah.

May 6-8, Dubai. Airport Show. Showcasing the latest technological advancements in the airport industry. Dubai World Trade Center.

May 6-8, Dubai, GISEC. The 14th edition of the Middle East and North Africa’s largest cybersecurity event, under the theme “Securing an AI-Powered Future.” Dubai World Trade Center. 

May 12-13, Dubai. Dubai FinTech Summit. Exploring a future where finance is accessible, inclusive, and empowering. Madinat Jumeirah.

May 13, Riyadh. Saudi-U.S. Investment Forum. An invitation-only event to be held during U.S. President Donald Trump’s visit to Saudi Arabia. The forum will bring together government, business, finance and innovation to discuss the next chapter of business between the two countries. Venue TBA.

May 13-14, Dubai. Low Carbon Fuels MENA. The conference promises a space for industry leaders, potential partners, and innovators to discuss potential opportunities and challenges. Sheraton Dubai Creek Hotel & Towers.  

May 13-15, Dubai. CABSAT. The Middle East & Africa’s leading event for content, broadcast, media & entertainment industry professionals looking to leverage the latest technology and innovation in creating the next-gen content. Dubai World Trade Center.

May 13-15, Dubai. World Police Summit. Uniting law enforcement professionals, policymakers, industry leaders, and innovators to redefine the standards of modern policing. Dubai World Trade Center.

May 16, Milan. Investopia Europe 3rd Edition. Highlighting discussions around transforming the global economy. Featured speakers include Abdulla bin Touq Al Marri, UAE Minister of Economy and Chairman of Investopia, and UAE Minister of State for Entrepreneurship Alia Abdulla Al Mazrouei. Palazzo Mezzanotte.

May 16-17, Tirana, Albania. FII Priority Europe 2025. Saudi Arabia’s Public Investment Fund sponsors a regional business summit focused on Europe and is affiliated with the annual Future Investment Initiative conference in Riyadh. National Theater of Opera and Ballet.

May 20-22, Doha, Qatar. Qatar Economic Forum. Annual conference bringing together Qatari government and business leaders with corporate executives, investors and policymakers from around the world. Media City Qatar.

May 26-27, Abu Dhabi. Building the Future Summit. This Forbes event serves as an exclusive platform for industry leaders, investors, architects, and innovators to explore the latest trends shaping the future of real estate. Louvre Abu Dhabi.

May 29-30, Tripoli, Libya. Building the Future Summit. A Forbes event that is designed to help delegates from Libya understand their investment opportunities, foster strategic partnerships, and showcase key reforms that will drive economic progress. Venue TBA.

PUMPING UP

Saudi Arabia is spreading the word that it is no longer willing to prop up the oil market with supply cuts and that it can withstand lower prices for a prolonged period. Officials are briefing allies and industry experts on what appears to be a shift in the Kingdom’s policy towards producing higher volumes to increase its market share after five years of OPEC+-led supply cuts  to balance prices, Reuters reports. Meanwhile, the International Monetary Fund has cut its 2025 growth forecast for Middle East oil exporters, including Saudi Arabia, to 2.3% amid global trade tensions and falling energy prices. The organization added that while non-oil growth is expected to be bolstered by infrastructure projects and other diversification efforts in the Gulf, government spending will be dampened by low oil prices, Bloomberg reports. The IMF expects increased natural gas production in Saudi Arabia, Qatar, the UAE, and Oman to drive medium-term growth, with Qatar set to nearly double its LNG output by 2030.

COOKING A DEAL

The Saudi PIF-backed ghost kitchen startup run by former Uber CEO Travis Kalanick is considering an IPO of its Middle East unit. CloudKitchens has hired Goldman Sachs to work on the deal, which would involve a listing in the UAE, Saudi Arabia, or both, Bloomberg reports, citing people familiar with the matter. The PIF, which invested $3.5 billion in Uber under Kalanick, pumped $400 million into his new kitchen venture in 2019, helping fund its rapid global expansion. Ghost kitchens are the unseen commercial cooking operations that largely fuel the food delivery business, using cheaper real estate in industrial areas to keep costs down for restaurant businesses. CloudKitchen’s Middle East operations include KitchenPark, which operates facilities in Saudi Arabia, the UAE and Kuwait. Meanwhile, Uber subsidiary Careem has branched out in an unlikely direction, offering to deliver certified 24-carat gold coins to Dubai residents in less than an hour.

Lunate: Alterra, the UAE’s $30 billion climate fund managed by Lunate, partnered with investors including Canada-based investment company Brookfield Asset Management to co-invest $100 million in Indian renewable energy company Evren. 

Public Investment Fund: Red Sea Global, a company owned by the PIF, plans to expand beyond its west coast projects with new developments in other Saudi cities and overseas, head of hospitality Sébastien Carre told Arabian Gulf Business Insights. 

Public Investment Fund: The PIF raised $1.25 billion by selling seven-year Islamic bonds, after strong investor demand helped it lower borrowing costs, Reuters reports.

Abu Dhabi Investment Authority: ADIA is considering selling its 50% stake in plastic container firm IFCO in a deal that could exceed $2.3 billion, while co-owner Triton plans to retain its share, Bloomberg reports.

Mubadala: Bugaboo, which the Abu Dhabi sovereign fund’s Mubadala Capital unit bought a majority stake in from Bain Capital last year, told customers in an email that it would raise prices across the majority of its luxury baby buggies and accessories from May 20, blaming U.S. tariffs.

🏢 Building Up: Property developer ASPECT, has launched in Egypt with a $295 million residential compound in New Cairo, and a $99 million residential tower in partnership with UAE-based Aldar.

💰 Stamp On: Saudi Arabia Capital Market approved Al Rajhi Bank’s plan to raise up to $2.6 billion by selling debt, giving it six months to complete the first sale.

📦 Logistical Hub: Saudi Ports Authority, known as Mawani, has signed two deals worth $134 million to develop logistics parks for vehicles and spare parts at Dammam’s King Abdulaziz Port with Alissa Universal Motors and Sultan Logistics.

⚡ Exit Strategy: Bahrain’s Investcorp, the Middle East’s largest alternative asset manager, has sold U.S.-based Resa Power to Kohlberg in the first exit from its $1.2 billion North America Private Equity Fund 1, after growing Resa’s revenue more than fourfold since acquiring it in 2021.

💲 New Style: Apollo Global Management, Carlyle Group, and Ares Management bought $375 million of the first known bonds from Sumitomo Mitsui that help the bank reduce risk from loans it gave to private credit funds, Bloomberg reports. 

🔋 Hydrogen Bid: Oman’s green hydrogen developer Hydrom has launched its third auction round, offering 300 sq km of development land near Duqm, with bidding expected to start mid-2025 and winners announced in early 2026.

⛏ Saudi Resources: Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef urged Kuwaiti investors to tap into the Kingdom’s $2.5 trillion mining sector during his visit to Kuwait. 

🚗 Market Share: Chinese carmakers are projected to capture 34% of the Middle East and Africa market by 2030, up from 10% in 2024, according to global consulting firm AlixPartners.

💲 Money In: Egypt may face a slowdown in foreign investments due to new U.S. tariffs, but upcoming GCC investments, led by Qatar and Kuwait, are expected to help fill a $10-12 billion funding gap through to 2026, according to the National Bank of Kuwait. The IMF has advised Egypt to proceed cautiously with interest rate cuts amid global uncertainty. 

🏨 ATM Bucks: Hotelier Rotana Group is IPO-ready and could go public immediately if shareholders agree, but is currently focused on further growth, according to co-founder Selim El Zyr.

UAE President Sheikh Mohamed bin Zayed met with Lebanese President Joseph Aoun on Wednesday at Qasr Al Shati palace in Abu Dhabi. Sheikh Mohamed also met with Daniel Noboa, President of Ecuador, to discuss trade partnerships. 

Lt. Gen. Sheikh Saif bin Zayed, UAE Deputy Prime Minister and Minister of Interior, sat down with Russia’s President Vladimir Putin during his visit to Russia. Sheikh Saif also met with Igor Krasnov, Russia’s Prosecutor General. 

Sheikh Maktoum bin Mohammed, First Deputy Ruler of Dubai and UAE Deputy Prime Minister and Minister of Finance, met on Wednesday with Mark Read, CEO of WPP, one of the world’s largest marketing and communications services groups.

Ali bin Ahmed Al Kuwari, Qatar’s Minister of Finance, met with the Chairman and CEO of General Atlantic, William Ford, who visited Qatar this week. 

Paul Griffiths, Dubai Airports CEO, told Reuters that, despite global tourism volatility caused by U.S. tariffs, passenger traffic remains strong, helped by China’s travel rebound, with Dubai expecting 96 million travelers in 2025.

Richard Teng, CEO of Binance, said in an interview with The National that the U.S. is most likely to issue pro-crypto regulations in August. 

Ebru Pakcan, Citigroup Mena CEO, said during a virtual conversation hosted by the Atlantic Council that both the UAE and Egypt “may” benefit the most in the Mena region from the U.S.-led reordering of the global trade framework.

Mariam Al Mheiri, Head of the International Affairs Office at the UAE Presidential Court, discussed with Hugh Evans, CEO of Global Citizen, at the Global Citizen conference in New York, the shifting global narratives shaping our future, including the UAE’s role in a rapidly evolving world.

Fabien Toscano, CEO of AlUla Development Company, said that AlUla expects a record year for visits in 2026, following an international marketing campaign targeting overseas travellers who typically stay longer and generate more yield, Arabian Gulf Business Insights reports. 

⚽ Blue Living: Diehard fans of Chelsea Football Club will soon be able to literally live in a dream. The blue jersey-wearing English Premier League club has partnered with Dubai-based DAMAC Properties to launch Chelsea Residences by DAMAC, the first-ever soccer club-themed residential project, consisting of 1,400 seafront units in Dubai Maritime City. The partnership marks Chelsea’s push into the Middle East and reflects a broader trend of collaborations between elite football clubs and luxury developers.

April 25 – May 11, Dubai. Dubai Esports and Gaming Festival. Dubai’s gaming and esports extravaganza brings together global players, creators, fans, and industry leaders. Dubai World Trade Center. 

May 4 – 7, Los Angeles. Milken Institute Global Conference. Bringing together the world’s brightest minds to address urgent challenges and unlock the most promising opportunities of our time. Beverly Hilton.

May 5-6, Abu Dhabi. Governance of Emerging Technologies Summit. Shaping Responsible Governance of AI & Emerging Technologies in a Future Digital Economy. St. Regis Saadiyat Island Resort.

May 6-7, Dubai. MENA Capital Market Summit. The event will bring together 1,500 businesses, decision-makers and global financial leaders to discuss the capital market. Madinat Jumeirah.

May 6-8, Dubai. Airport Show. Showcasing the latest technological advancements in the airport industry. Dubai World Trade Center.

May 6-8, Dubai, GISEC. The 14th edition of the Middle East and North Africa’s largest cybersecurity event, under the theme “Securing an AI-Powered Future.” Dubai World Trade Center. 

May 12-13, Dubai. Dubai FinTech Summit. Exploring a future where finance is accessible, inclusive, and empowering. Madinat Jumeirah.

May 13, Riyadh. Saudi-U.S. Investment Forum. An invitation-only event to be held during U.S. President Donald Trump’s visit to Saudi Arabia. The forum will bring together government, business, finance and innovation to discuss the next chapter of business between the two countries. Venue TBA.

May 13-14, Dubai. Low Carbon Fuels MENA. The conference promises a space for industry leaders, potential partners, and innovators to discuss potential opportunities and challenges. Sheraton Dubai Creek Hotel & Towers.  

May 13-15, Dubai. CABSAT. The Middle East & Africa’s leading event for content, broadcast, media & entertainment industry professionals looking to leverage the latest technology and innovation in creating the next-gen content. Dubai World Trade Center.

May 13-15, Dubai. World Police Summit. Uniting law enforcement professionals, policymakers, industry leaders, and innovators to redefine the standards of modern policing. Dubai World Trade Center.

May 16, Milan. Investopia Europe 3rd Edition. Highlighting discussions around transforming the global economy. Featured speakers include Abdulla bin Touq Al Marri, UAE Minister of Economy and Chairman of Investopia, and UAE Minister of State for Entrepreneurship Alia Abdulla Al Mazrouei. Palazzo Mezzanotte.

May 16-17, Tirana, Albania. FII Priority Europe 2025. Saudi Arabia’s Public Investment Fund sponsors a regional business summit focused on Europe and is affiliated with the annual Future Investment Initiative conference in Riyadh. National Theater of Opera and Ballet.

May 20-22, Doha, Qatar. Qatar Economic Forum. Annual conference bringing together Qatari government and business leaders with corporate executives, investors and policymakers from around the world. Media City Qatar.

May 26-27, Abu Dhabi. Building the Future Summit. This Forbes event serves as an exclusive platform for industry leaders, investors, architects, and innovators to explore the latest trends shaping the future of real estate. Louvre Abu Dhabi.

May 29-30, Tripoli, Libya. Building the Future Summit. A Forbes event that is designed to help delegates from Libya understand their investment opportunities, foster strategic partnerships, and showcase key reforms that will drive economic progress. Venue TBA.