Saudia Airlines is talking with Elon Musk’s SpaceX to bring Starlink’s high-speed internet to more than 140 of its aircraft.

If signed, the deal would mark SpaceX’s entry into the Gulf’s largest economy, even as local rival Neo Space Group races to develop its own in-flight service, Bloomberg reports.

While Saudia, the country’s flagship airline, did not comment on the news, its chief guest experience officer, Rossen Dimitrov, said in a post on LinkedIn that he recently toured SpaceX’s industrial complex in Texas to explore “the exciting future they are bringing to aviation.”

Starlink’s airline service follows a subscription model, with upfront hardware costs of $300,000 to $500,000 per plane plus a monthly fee per seat.

SpaceX is also in talks with Emirates, Flydubai, and Gulf Air, the news agency added. 

Wall Street investment firms, corporate law firms and business conglomerates are lining up for scarce premium office space in Riyadh.

Responding to Saudi Arabia’s ongoing campaign to attract international business, the government reported that 616 international companies established their regional headquarters in the capital city during the first quarter of 2025, an 8% jump from the previous quarter.

Saudi Minister of Media Salman Al-Dosari also said at a press conference that the kingdom’s efforts to promote startups are paying off, with commercial registrations up 13% to 1.7 million by mid-2025.

The Saudi government established a policy this year, requiring international firms to maintain a regional headquarters in the kingdom as a prerequisite for winning state contracts.

The $5 billion in assets held by Gulf sovereign wealth funds is providing a soft cushion against ping-ponging regional conflicts from Gaza to Iran.

Saudi Arabia’s Public Investment Fund, the Qatar Investment Authority and the rainbow of UAE sovereign funds, such as Mubadala and the Investment Corp. of Dubai keep building their influence in global markets despite the nearby mayhem, Bloomberg Businessweek reports in a broad examination of the phenomenon.

Among the geopolitical shocks this year was Iran’s missile barrage in June at an American air base in Qatar. Just hours after one of the most direct attacks on U.S. assets in the Middle East in years, it was business as usual in the capital city of Doha and its financial markets, the news agency said.

The Middle East, according to the BlackRock Investment Institute, finds itself at the intersection of three “mega forces” affecting investing now: geopolitical fragmentation, the energy transition and artificial intelligence, Ben Powell, BlackRock’s chief investment strategist for the Asia-Pacific and Middle East, tells Bloomberg.

“We are back to feeling quite constructive,” Powell says, “while of course being appropriately nervous and watchful around the geopolitical risk, which is ongoing, real and unpredictable.”

Dubai expects to turn heads at Germany’s Gamescom 2025 next week when it unveils the first gaming pavilion sponsored by a Middle East government.

The emirate wants to use the world’s biggest gaming event to showcase its $1 billion effort to rank among the world’s top 10 gaming hubs by 2033, Arabian Business reports.

“Our presence at Gamescom underscores the strength of an ecosystem that combines innovation, education, advanced technology, and talent development,” Sheikha Latifa bint Mohammed Al Maktoum, Chairperson of Dubai Culture, said in a statement.

Some 350 gaming companies have set up shop in Dubai, 12% of them part of major global tech firms, the news site said.

Wynn resorts is in the midst of building the UAE’s first casino in the emirate of Ras Al Khaimah, which is due to open in 2027.

AI firms that have raised billions of dollars from Gulf sovereign wealth funds and state-owned companies are running into trouble.

Many are discovering the pitfalls of required local partnerships and the difficulty of building and running data centers in the region, The Information reports.

AI chipmaker Groq, for instance, got a $1.5 billion commitment from Saudi Aramco but later had to cut its revenue projections because of the lack of data capacity in the region.

Rival Cerebras made what proved to be onerous concessions to Abu Dhabi’s G42 as part of a $300 million investment deal, the online news platform said.

In spite of the problems, foreign AI companies continue to seek cash from the Mideast’s biggest funds, The Information said.

Delivery delays from Airbus and regional geopolitical instability are hampering Kuwait Airways’ efforts to break even and attract more passengers.

Chairman Abdulmohsen Alfagaan told Reuters that the carrier currently operates 27 aircraft, down from a plan of 33 for 2024, and expects to reach only 30 by year-end, with full deliveries delayed until 2027.

Kuwait Airways will not be able to reach its goal of 5.5 million passengers this year, up from 4 million in 2024.

Alfagaan said the company’s 2025 break-even target is at risk.

While China remains Saudi Aramco’s biggest customer by far, its monthly oil purchases are trending downward as more Russian crude hits the market.

Energy Aspects, a London consulting firm that tracks the industry, said in an Aug. 11 note that Chinese refineries are holding back from purchases for September given the greater availability of oil from the Russian Urals, Bloomberg reports. 

Saudi Aramco is set to sell 43 million barrels of contractual supplies of September-loading crude to China, according to Bloomberg. That compares with 51 million barrels a month ago and a monthly, year-to-date average of about 45 million.

The global oil market may be undergoing a reordering of some crude flows after the U.S. and European Union increased pressure against India over its imports of Russian energy.

Given there’s been no comparable move against China, that’s raised the possibility that more of Moscow’s oil will be taken by mainland refiners, the news agency said.

Wynn Resorts expects a windfall approaching $8 billion a year from its perch as the first casino operator in the UAE.

The Las Vegas-based company disclosed last week that it had initially expected to be competing with other gaming resorts when it won a license in 2024 to build a casino-hotel in the emirate of Ras Al Khaimah.

Instead, Wynn will open on Al Marjan Island in 2027 with a monopoly that analysts expect to yield $5 billion in annual revenue, while suggesting the turnover could reach $8 billion, Arabian Gulf Business Insight reports.

Wynn CEO Craig Billings said during the company’s second quarter earnings call that the casino’s revenue model was originally structured “assuming there would be multiple competitors in the market.”

Now, Billings said, “It looks like we’re going to be the only one for quite some time.”

The UAE gave Wynn the country’s first 15-year casino license three years ago.

While no other license has been granted, rival casino operator MGM Resorts International has cited “expectations regarding the potential opportunity for gaming expansion” for its $2.5 billion beachfront development at Dubai’s Jumeirah Beach, according to AGBI.