Mubadala is reported to be considering investing as much as ¥1 trillion ($6.3 billion) to build what could become Japan’s biggest artificial intelligence data center.

The Abu Dhabi sovereign wealth fund would lead a round of investment into the 500-megawatt project in the Akita prefecture of northern Japan, according to reports by Bloomberg and Japan’s Nikkei newspaper. Total investment surrounding the project could reach as much as ¥2 trillion.

Japan is gaining attention from global investors competing for AI infrastructure assets, as it is seen as a relatively stable market amid conflicts in the Middle East and Europe and escalating trade tensions between the U.S. and China. 

The Japanese government is planning to designate several regions, including Akita, as investment zones for AI and semiconductor manufacturing, along with offering financial incentives.  

Mubadala has become one of the world’s leading global investors in AI, largely through MGX, a partnership with G42, which recently participated in the buyout of U.S.-based Aligned Data Centers. In June, MGX was also reported to be exploring the potential acquisition of Singapore-based data center operator DayOne.

Abu Dhabi’s national oil company ADNOC is spending $1.3 billion to bolster its fleet of tankers as it continues to ramp up Gulf exports despite threats to shipping in the Strait of Hormuz.

ADNOC Logistics & Services bought six very large crude carriers, almost doubling its current fleet of eight, as well as five very large gas carriers.

ADNOC has been using tactics including shipping under darkness with transponders switched off and military escorts to shuttle crude and other refined products out of the Gulf.

Using its own vessels gives the company greater freedom to make these riskier voyages, as it takes a more assertive and expansive stance following its departure from OPEC.

The UAE has also been increasing oil shipments from the eastern emirate of Fujairah, which sits outside the Strait, via a cross-country pipeline. ADNOC L&S will take delivery of the vessels this quarter.

ADNOC has managed to move more oil through the Strait of Hormuz over the past two months than any other producer.

Abu Dhabi’s national oil company has been using tactics, including switching off transponders, to make ships less detectable as they pass through the narrow passage to exit the Gulf.

ADNOC was the only Middle Eastern producer to reach pre-war levels of seaborne exports in June and July, according to estimates from Vortexa, Bloomberg reports.

It comes as Iran said a deal negotiated with Oman for proposed shipping lanes was in the final stages, raising hopes that an agreement to open the Strait will come within days.

Brent is trading near $80 a barrel, switching between modest gains and losses as traders await an update.

LIV Golf has secured a lead investor, according to CEO Scott O’Neil, in a development that looks likely to save the rebel league from filing for bankruptcy after the exit of Saudi Arabia’s Public Investment Fund earlier this year.

Without identifying the parties involved, O’Neil said the investor had signed an agreement approved by LIV’s board, while others have shown interest in taking minority stakes.

Bloomberg reported that BC Partners’ credit arm was the party leading the group of investors.

“This is a moment that we’re very happy about, that we’re thrilled to announce, that we’re proud to be a part of,” O’Neil said on Thursday. “It’s certainly an investor of weight, and we’re all locked in on making it happen.”

LIV went into crisis in April when the PIF said it would withdraw its backing, following years of heavy losses and weak television audiences.

The league had started laying the groundwork for a potential U.S. bankruptcy filing if it failed to raise new money and also notified employees in the U.S. and U.K. last month that they faced mass layoffs. 

Wynn Resorts said its first Middle East casino will open in September 2027, after construction delays linked to the US-Iran conflict pushed back the timeline.

The cost of the project, located on Al Marjan Island in Ras Al-Khaimah, has risen by $600 million to $5.7 billion due to higher material and shipping expenses.

CEO Craig Billings said during a company briefing that the company remains confident in the UAE’s ability to manage geopolitical risks, citing the resilience of Dubai’s aviation sector, Bloomberg reports.

The resort will feature 22 restaurants, an events center, private prayer rooms and a grand ballroom, joining a broader wave of entertainment developments in the region.

Saudi Arabia plans to begin construction within two to three months of a giant AI data center that’s part of its NEOM megaproject.

DataVolt, the data center’s developer, is lining up customers for the first phase of the 1.5-gigawatt AI venture, which is backed by an initial $5 billion investment and targeted to begin operations in 2028, CEO Rajit Nanda tells Arabian Gulf Business Insight.

The installation at Oxagon, NEOM’s port and industrial hub on the Red Sea, is designed as an “AI factory,” pairing massive computing power with renewable energy, cooling systems and high-speed connectivity, Nanda said.

The massive AI data center is part of a reset for NEOM as Saudi Arabia grapples with budget deficits caused by volatile oil prices and directs spending toward projects with clearer commercial returns. 

That has meant scaling back The Line, the planned 170-kilometer (105-mile) linear city projected to cost more than $1 trillion, and delaying Trojena, the $38 billion mountain resort that was forced to give up hosting the 2029 Asian Winter Games because construction fell behind schedule.

Turkey is positioning itself as a new wealth hub between Europe and the Middle East, unveiling tax incentives to attract wealthy expats and overseas investors amid instability in the Gulf and London.

The measures include reduced inheritance taxes, exemptions on overseas income for up to 20 years and an amnesty programme for undeclared foreign assets, echoing incentives previously offered by the U.K., Bloomberg reports.

Turkey’s push comes as the government seeks to strengthen its financial credentials after years of inflation, currency volatility and political uncertainty, while Gulf nations face renewed questions over regional security risks.

Officials say Turkey aims to become a global center for investment and capital management, though analysts note it remains unclear how many wealthy individuals will choose it over established destinations in the Gulf and Europe.

Saudi Aramco posted a 33% jump in second-quarter profit as the war in Iran sent energy prices soaring and the world’s biggest oil company kept exports flowing despite the closure of the Strait of Hormuz.

The company said attacks on key oil infrastructure in July had no material impact on its operations or financial results, with exports maintained through Saudi Arabia’s East-West Pipeline, storage facilities and Red Sea terminals.

Aramco’s remarks on the July attacks were the first time it acknowledged the assault after Yemen’s Houthi rebels claimed strikes on Saudi oil sites and the kingdom intercepted drones launched from Iraq, Bloomberg reports.

The company said it is continuing to maximize exports of diesel, jet fuel and other refined products from its Red Sea refineries, where margins have remained strong even after crude prices retreated following the U.S.-Iran ceasefire.

Meanwhile, the UAE cut its reliance on the Strait of Hormuz in July, reducing oil exports through the waterway by 53% to 950,000 barrels a day while shifting more shipments to Fujairah via its 1.5 million-barrel-a-day bypass pipeline, The National reports. Exports fell nearly 20% to 3.5 million barrels a day.