MAJOR SALE

ADNOC, the UAE energy giant, is raising $1.5 billion through its debut sale of Islamic bonds to beef up its capital reserves. Acting via primary debt entity ADNOC Murban, named after its flagship crude grade, ADNOC priced the 10-year bonds at 60 basis points over U.S. Treasuries and attracted more than $3.85 billion in demand, Reuters reports. When ADNOC raised $4 billion through conventional bonds last September, Chief Investment Officer Klaus Froehlich said that the energy giant would likely tap the market for between $3 billion and $5 billion a year, excluding alternative markets like Islamic bonds. Standard Chartered is the sole global coordinator for the latest sale, with several banks acting as bookrunners, the news agency reported.

FACE BOOKING

Abu Dhabi is testing a facial recognition system to verify guests and speed up the check-in process at hotels across the emirate. The system, unveiled during Dubai’s Arabian Travel Market, is now in its pilot phase at a handful of hotels. It will then be rolled out to all five-star hotels in Abu Dhabi city and the Al Ain and Al Dhafra regions, before targeting four-star establishments at a later date. The scheme, led by Abu Dhabi’s Department of Culture and Tourism (DCT) and the Federal Authority for Identity, Citizenship, Customs & Port Security (ICP), is a part of the UAE’s wider push to use technology to boost government efficiency and improve customer service. Travelers to the emirates are already familiar with biometric systems, which are widely used in the UAE’s airports. Upgrades to Abu Dhabi’s Zayed International Airport are expected to eliminate the need for travel documents altogether.

Abu Dhabi Investment Authority: The sovereign wealth fund is an investor in U.S. insurance broker Acrisure, which is in talks with a group led by Bain Capital’s BDT & MSD unit to invest as much as $2 billion in the firm, Bloomberg reports.

Abu Dhabi Investment Authority: ADIA is investing in Ather Energy’s $360 million IPO, supporting the electric scooter maker’s expansion and strengthening its growing presence in India.

Public Investment Fund: Saudi Arabia’s global aircraft lessor AviLease, owned by the PIF, received investment grade ratings from Fitch, strengthening its prospects for expansion.

ADQ: Antonoaldo Neves, CEO of Etihad Airways, which is owned by ADQ, said the decision on an IPO is with the shareholders. He said that so far, the airline is not seeing any effects from the turmoil caused by U.S. President Donald Trump’s tariff policies; however, it was too early to fully gauge the impact, Reuters reports. 

🛢️ New Venture: China’s Sinopec and Saudi Aramco’s Singaporean arm have signed a $3.9 billion deal to create an energy joint venture in China’s Fujian province.

🇶🇦 Bond Proposals: Bahrain may seek to raise $1.5 billion or more in a bond sale and requested proposals from banks for a potential offering, Bloomberg reports.

🚢 Port Authority: Saudi Arabia’s General Ports Authority, known as Mawani, signed a $79 million deal with Alissa International Motors to develop a 382,000 sq. m logistics zone at King Abdulaziz Port in the eastern province of Dammam.

💸 New Style: Los Angeles-based asset manager Capital Group and private equity giant KKR have teamed up to launch new funds blending traditional stocks and bonds with private assets like buyouts, infrastructure, and real estate, the Financial Times reports. 

🤖 Code Repair: Lightrun, an Israeli startup that lets AI developers spot and repair software code in real time, raised $70 million in a Series B funding round led by Accel and Insight Partners.

🇰🇼 LNG Exports: Australia’s Woodside Energy Group is in talks to sell an interest in its proposed U.S. LNG export project to state-owned Kuwait Foreign Petroleum Exploration Co., Bloomberg reports.

💲 Turkish Loan: Turkey wants to secure $41 billion in low-cost, long-term financing from global institutions over the next three years, Treasury and Finance Minister Mehmet Şimşek announced after meetings at the IMF and World Bank.

💍 On the Rocks: The relationship between Microsoft and Open AI CEOs Satya Nadella and Sam Altman has soured at a critical moment in the AI race, The Wall Street Journal reports.

🏨 Lost Plot: UAE billionaire Khalaf Al-Habtoor is considering hiring China Railway Construction Corp. to dismantle and relocate his 185-room Metropolitan Palace Hotel in Beirut by sea to another country after ending investments in Lebanon.

💵 Bridge to Beijing: China International Capital Corp., one of the country’s largest brokerages, is opening a new Dubai branch to target sovereign wealth funds and conglomerates in the Gulf region, Bloomberg reports. 

UAE President Sheikh Mohamed bin Zayed met with Sam Mostyn, Governor-General of Australia, at Qasr Al Shati in Abu Dhabi on Monday.

Emir of Qatar Sheikh Tamim bin Hamad inaugurated the Ras Laffan and Mesaieed solar photovoltaic power plants at the Ras Laffan Industrial City on Monday.

Sheikh Mohammed bin Rashid, Ruler of Dubai and UAE Vice President and Prime Minister, issued a decree to form a new Board for Dubai Ports and Borders Security Council, chaired by Sheikh Mansoor bin Mohammed. Lt. Gen. Mohammed Ahmed Al Marri will serve as Vice Chairman of the Board.

Prince Faisal bin Farhan, Saudi Arabia’s Minister of Foreign Affairs, arrived in Muscat on Monday for an official visit to Oman. He was received at Muscat International Airport by Omani Foreign Minister Badr bin Hamad Al Busaidi.

Frank Gehry, the 96-year-old architect who designed the soon–to–be–opened Guggenheim Abu Dhabi museum, attended the UAE capital’s Culture Summit on Monday, where he met with Solomon R. Guggenheim Museum and Foundation CEO Mariet Westermann.

Sherif Fathi, Egypt’s Tourism Minister, said Egypt’s tourism sector is expected to grow by 6% this year, boosted by the expected official opening of the Grand Egyptian Museum, speaking at a press conference during the Arabian Travel Market exhibition in Dubai.

Tony Douglas, Riyadh Air CEO, said that the airline is willing to buy Boeing planes that were once destined for Chinese airlines if orders are canceled due to the U.S.-China trade war, Reuters reports.

Khalid Al-Falih, Saudi Arabia’s Minister of Investment, said that 34 international companies have decided to open their regional headquarters in the Eastern Region, which is promoting more than 700 investment opportunities worth $88 billion.

Ali Mandour will serve as Middle East Managing Director for I Squared Capital, as the U.S. private equity fund expands in the region, with a new office set to open in Riyadh later this year.

🪦 Age Old Wisdom: A new discovery of an Iron Age burial site at one of the world’s oldest inhabited settlements in the Al Ain region of Abu Dhabi promises to transform knowledge of ancient culture. The 3,000-year-old necropolis may contain more than 100 burial plots, with some believed to be intact, despite historic looting hundreds of years ago. “For years, the Iron Age burial traditions remained a mystery, but now we have tangible evidence that brings us closer to the people who lived here 3,000 years ago,” Jaber Saleh Al Merri, director of the historic environment department, said in a press release.

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. 

April 28-May 1, Dubai. Arabian Travel Market. This year’s theme, “Global Travel: Developing Tomorrow’s Tourism Through Enhanced Connectivity,” highlights the role of connectivity in the transformation of the tourism industry. Dubai World Trade Center. 

April 29-30, Abu Dhabi. Digital Transformation Summit UAE 2025. In its 37th edition, the summit is expected to be attended by over 300 C-suite executives, directors, and technology leaders. Sheraton Abu Dhabi Hotel and Resorts.

April 30- May 1, Dubai. Token2049 Dubai. A global conference dedicated to the crypto and blockchain ecosystem. Madinat Jumeirah.

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 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.