Dr. Sultan Al Jaber, the UAE Minister of Industry and Advanced Technology and Chief Executive of the state-owned ADNOC oil company, pledged to boost investments in the U.S. by sixfold during a conference in Washington.

Calling for a global overhaul of national power grids to accommodate the massive demands of artificial intelligence, Al Jaber told the Atlantic Council Global Energy Forum on Tuesday that the industry must upgrade its technology while utilizing the broadest menu of resources, including oil, gas, nuclear and renewables.

“You can’t run tomorrow’s technology on yesterday’s grid,” Al Jaber said. “Many of our grids were built for a completely different century.” 

XRG, ADNOC’s new international investment arm, plans to inject some $440 billion into the U.S. energy industry over the next decade, Al Jaber said.

The fund is an investor in Houston, Texas-based NextDecade’s Rio Grande LNG export facility while Abu Dhabi renewable energy company Masdar, partly owned by ADNOC, has developed 5.5GW of production and storage capacity “from coast to coast,”, Al Jaber said.

Touching on the war between Israel and Iran, Al Jaber called on all parties to show restraint. “The United Arab Emirates stands for dialogue, for de-escalation and diplomacy,” he said.

“We reaffirm our belief in peace over provocation, calm over confrontation and progress through partnership, and only partnership,” Al Jaber said.

Dar Global, the Saudi developer behind Dubai’s planned $1 billion Trump Tower, expects the building to sell out by the end of summer and is planning to launch more projects with the Trump Organization.

The project, launched in April, is expected to be finished in five years and will feature more than 500 homes, with two $20 million penthouses, a Trump-branded hotel and a clubhouse.

“Sales have been strong, [there has been] very good reception for the brand, for the mix and the location,” Dar Global CEO Ziad El Chaar told The National.

Dubai’s property market has continued its steep ascent, with the average price per square foot reaching AED 1,808 ($492) in May.

Palazzo Versace Dubai, one of the most luxurious hotels in the UAE, is hitting the auction block with a starting price of $163 million, a figure significantly lower than its previous valuation of $380 million, after its owner ran into financial trouble.

Among the interested buyers is Swiss-Italian banker Christopher Aleo, who is planning a bold move through his New York-listed iSwiss Hedge Fund to bring in global investors.

More than just a real estate deal, this could mark a symbolic return of the opulent property to Italian hands, with Aleo aiming to blend luxury, heritage, and innovation in a refreshed vision for the hotel.

If it goes through, the acquisition could become one of 2025’s most talked-about deals in global hospitality and finance.

The hotel spans 130,000 square meters and features 215 rooms and suites, 169 private residences, and eight upscale restaurants and lounges along the shores of Dubai Creek.

AviLease has signed a deal for up to 77 Airbus planes, announced as the Paris Air Show opened at Le Bourget on Monday.

The global aircraft lessor backed by Saudi Arabia’s Public Investment Fund signed up for an initial 30 A320 Neo jets and 10 A350F freighters, which could increase to 55 A320 Neos and 22 A350Fs.

Riyadh Air, Saudi’s new national carrier, also backed by the sovereign wealth fund,  announced an order of 25 A350-1000 aircraft at the event on Monday.

Meanwhile, Royal Air Maroc is nearing a major fleet renewal deal with Boeing as it moves to quadruple its fleet by 3030 ahead of co-hosting the World Cup.

The deal could include more than 70  787s and 737 jets, Reuters reports. The airline is also planning a smaller order for 20 Airbus A220s, its first Airbus deal in nearly 25 years.

The Paris Air Show opened against a somber backdrop following last week’s Air India crash and disruptions caused by rising tensions between Israel and Iran.

Boeing CEO Kelly Ortberg and Commercial Airplanes chief Stephanie Pope have cancelled their trip to Paris, with Boeing scaling back its presence to focus on the India crash probe.

Boeing’s branding remained highly visible at the show, including a gleaming Riyadh Air 787 parked behind its chalet at Le Bourget, Reuters reported.

Stocks fell and oil surged as much as 13% in its biggest intraday rise in three years early on Friday, as investors feared a major escalation of tensions in the Middle East after Israel attacked Iran’s nuclear program and Iranian military leaders.

Brent crude surged to $78 a barrel before easing to around $75, rapidly erasing much of this year’s losses caused by trade tensions and increased OPEC+ output. Gold also hit its highest level in weeks, rising 1.2% to $3,423.30 an ounce as investors fled to safety.

Analysts fear that Iran could target shipping in the Strait of Hormuz, which about one-fifth of the world’s oil passes through, potentially disrupting supplies of millions of barrels of oil a day in an extreme scenario. Such a scenario could see prices reach $130 a barrel, JPMorgan Chase & Co. recently warned.

“We are seeing classical risk-off moves,” Matthew Haupt, portfolio manager at Wilson Asset Management, told Bloomberg. “What we are watching now for is the speed and scale of the response from Tehran. That will shape the duration of the current moves. Quite often these moves fade after the initial shocks.”

Meanwhile, Gulf airlines delayed and cancelled flights to Iran, Iraq and Israel on Friday, with some rerouted mid-flight. Israel’s Ben Gurion Airport was closed until further notice, while Iran closed its airspace and Iraq suspended civilian flights. Flights to Lebanon and Jordan were also disrupted.

U.S. planemaker Boeing is back in the spotlight as investigators probe the cause of yesterday’s Air India plane crash that killed more than 290 people in the world’s worst aviation disaster in a decade.

The Indian government is reportedly considering grounding the airline’s entire Boeing 787 Dreamliner fleet as a precaution while the cause of the disaster is determined.

While multiple avenues of investigation are open, early inquiries are considering whether the aircraft suffered a reduction or loss of engine thrust, The Wall Street Journal reports.

The crash complicates Boeing’s turnaround efforts under new Chief Executive Kelly Ortberg, just days after the company reported a healthy May order book and ahead of the crucial Paris Air Show next week.

There are more than 1,100 Dreamliners in service around the world and just last month Boeing celebrated carrying its billionth customer on the model, which has so far had a good safety record. Boeing shares fell by almost 5% on Thursday.

German parcel company DHL will invest $575 million in the Middle East over the next five years, with a heavy focus on Saudi Arabia and the UAE, as it plans to use Gulf hubs as a gateway for a push into Africa.

Investments across all four of DHL’s divisions – DHL Express, DHL Global Forwarding, DHL Supply Chain, and DHL eCommerce – will “significantly strengthen the region’s logistics backbone,” DHL said in a statement.

The delivery giant sees health-care services in Africa and the Middle East as a major growth opportunity and is targeting time-critical shipments of vaccines, stem-cells and cryogenics, DHL’s Head of Life Sciences MEA Annette Naude told Bloomberg. The move will capitalize on Chinese investment in the region.

“We see America has come in and cut costs, but we do see other countries coming to the forefront and filling those gaps,” Naude said. “I went to China and met with a number of investors who are going to make investments on the African continent. Chinese investment in the region is really big.”

Demand for pharmaceuticals in Africa is rising, with revenues expected to reach $33.8 billion by 2030. Drugs and medical devices require specialized supply chains with reliable ultra-cold refrigeration and end-to-end tracking, which can be a major challenge in many parts of the continent.

Advanced insulin from China is among the sought-after medications by African governments, as emerging lifestyle diseases rise in priority next to established healthcare challenges such as malaria.

The UAE Lottery has introduced two new digital games offering prizes of up to $340,000, as it seeks to expand its product offering within the country’s nascent regulated gaming sector.

The launch of Marble Run and Lucky Lagoon, the new titles, overseen by the General Commercial Gaming Regulatory Authority, reflect a broader state-backed effort to formalize lottery and gaming activities, The National reports.

The expansion marks the first significant product rollout since the Lottery was licensed in 2023, and coincides with a multi-year partnership between UAE Lottery operator Game LLC and U.S.-based EQL Games.

The move signals growing investor interest and regulatory confidence in the UAE’s evolving commercial gaming landscape.