The UAE is moving ahead with plans to transform a piece of Jordan’s Red Sea beachfront into a luxury resort.

MAG Group, a subsidiary of ADQ’s AD Ports Group that was appointed on Sunday as the project’s developer, said it will soon begin work on the Marsa Zayed property in the southern port city of Aqaba, which abuts the Saudi border.

In the first phase, MAG will begin construction on ​​what will be called the Zayed Riviera with four residential towers, a yacht club, and restoration of the Aqaba Minaret.

The Jordanian project could potentially link to similar planned resorts in Saudi Arabia, Egypt and Israel that form a border-traversing horseshoe around the Red Sea.

Energy ministers from OPEC+ meet today as oil and gas customers around the world gird for the expected fallout from the U.S. trade war taking shape with Canada, Mexico and China.

Oil prices rose today after U.S. President Donald Trump imposed tariffs on the three countries, sparked by fears that the feuds would disrupt supplies. Brent crude futures rose 78 cents, or 1.03%, to $76.45 a barrel at 1:33 p.m. UAE time after touching a high of $77.34. U.S. West Texas Intermediate crude futures were up $1.36, or 1.88%, to $73.89.

The OPEC+ members, led by Saudi Arabia and Russia, will meet online for a monthly review at which they’re expected to leave production and supply plans unchanged through March and gradually lift the current quotas that were designed to keep prices from falling, Reuters reports.

While Trump has urged the petroleum producers bloc to cut prices, several OPEC+ delegates have said they won’t adjust the plan for now since crude markets remain fragile amid faltering demand in China and plentiful supply across the Americas, Bloomberg reports.

Goldman Sachs issued a report on Sunday that suggests the Trump tariffs are likely to have a limited near-term impact on global oil and gas prices.

“Potential tariff-driven decline in U.S. natural gas imports from Canada is too small to significantly raise U.S. natural gas prices,” the investment bank said.

In the world of debt finance, blue bonds are an emerging class of securities used to support maritime projects that carry potential environmental benefits.

Nasdaq Dubai announced on Thursday it will host the MENA region’s first blue bond sale as DP World seeks to raise $100 million for its seaports and logistics businesses.

The bond issue is aimed at supporting a range of DP World projects this year, including development of alternative fuels to reduce maritime carbon emissions, upgrading port infrastructure to minimize environmental damage and restoring damaged ecosystems, the company said in a statement.

“As a responsible leader in global trade, we are committed to preserving the ocean’s ability to provide for future generations,” DP World Chairman and CEO Sultan Ahmed bin Sulayem said.

Based at the Dubai International Financial Centre, Nasdaq Dubai already issues green bonds, sustainability bonds and sustainability-linked bonds. The total value of its debt listings is $137 billion, of which $29 billion are linked to ESG – environmental, social, and governance – goals.

Developers of New Murabba, Neom, Diriyah and other multibillion-dollar construction projects across Saudi Arabia occupied center stage this week at the Real Estate Future Forum in Riyadh.

Until former U.S. President Bill Clinton mounted the podium Wednesday night at the Four Seasons.

Praising Crown Prince Mohammed bin Salman’s Vision 2030 plan that set off a torrent of building activity across the kingdom, Clinton told a packed ballroom, “It’s worth investing in.”

The 78-year-old statesman, who met with MBS earlier in the day, added: “I think that we Americans should come here and study this 2030 plan and ask ourselves what is our equivalent,” Arab News reports.

Clinton capped the final day of the conference in Saudi Arabia’s capital, where the cube-shapped New Murabba development promises to be the “most complex structure known to man or woman,” the project’s CEO Michael Dyke told a conference panel.

“We will have something like two to three Empire State Buildings on each corner, which anchor the four corners of Mukaab,” Dyke said. At the center will be a residential tower the size of the Eiffel Tower “that will be the only skyscraper in the world that lives inside another building.”

“Below the ground is enormous as well,” he said, adding, “It’s a complete cavernous labyrinth of various different asset classes” with retail space “the size of Dubai Mall that will be capable of extending to be bigger.”

The UAE’s Ministry of Defense displayed its first Dassault fighter jet at a ceremony in Paris that inaugurating its $17.4 million deal with the French aviation firm.

The acquisition of 80 Rafale jets, among the most advanced combat aircraft, is part of a broader effort to upgrade the UAE’s defense capabilities.

“Our strategy focuses on acquiring the most advanced weaponry and systems that align with the evolving nature of modern warfare and technological advancements,” Mohamed Al Mazrouei, Minister of State for Defense Affairs, said at the ceremony on Thursday.

Al Mazrouei was joined at the event by French Defense Minister Sebastien Lecornu and other representatives from France and the UAE.

Bustling with new hospitals and medical startups, the UAE is a global center for innovative health care this week, proclaiming its aspirations from the world’s tallest skyscraper.

The annual Arab Health conference took over the 162-story facade of Dubai’s Burj Khalifa on Tuesday night to announce with a laser light show that it will henceforth be known as WHX – as in, the World Health Expo.

On hand for the event were some of the biggest names in the healthcare industry, including Merck, Baxter AG, the Cleveland Clinic, GE Healthcare, Siemens and the UAE’s PureHealth.

Abu Dhabi’s M42 – backed by Mubadala and G42 – showed off the integration of artificial intelligence into treatment regimens at hospitals and clinics across the country.

Over the three days of proceedings in the vast halls of the Dubai World Trade Centre, some 3,800 companies from 180 countries – including Saudi Arabia, Morocco, the U.S., the U.K., China, India, Singapore and Taiwan – are pitching their wares.

One exhibit that captured attention was a display of Dubai’s use of facial recognition by its ambulance services through an app that can identify unconscious residents who aren’t carrying an ID card.

“This event embodies Dubai’s long-term vision of building innovative and comprehensive health systems based on strong international partnerships and platforms that bring together thought leaders and experts,” said Sheikh Ahmed bin Mohammed Al Maktoum, Second Deputy Ruler of Dubai, hailing the city’s “growing status as a global hub for anticipating and shaping the future” of healthcare.

Also present at the conference were Mansoor Al Mahmoud, Qatar’s Minister of Public Health; Dr. Jaleela bint Al-Sayed Jawad Hassan, Bahrain’s Minister of Health; and Dr. Khaled Atef Abdel-Ghaffar, Egypt’s Minister of Health.

The emergence of DeepSeek, the Chinese startup whose artificial intelligence capabilities rival those of Nvidia and triggered a 17% plummet in the U.S. chipmaker’s shares, is being felt in the Gulf.

G42, International Holding Co. and other Abu Dhabi companies that have billions of dollars in active deals with Nvidia stand to lose if DeepSeek can follow through with its plans to provide advanced AI functions at a fraction of the cost. Nvidia’s market value plunged $589 billion on Monday.

Damac Properties Chairman Hussain Sajwani, for example, pledged $20 billion to U.S. President Donald Trump two weeks ago to build AI data centers, which may not ever be built if DeepSeek’’s technology proves itself.

“The introduction of DeepSeek’s cost-effective solutions has disrupted… anticipations of expansive investments in AI, leading to a sharp market correction,” Roberto d’Ambrosio, CEO of Axiory Global, told The Circuit’s Omnia Al Desoukie in Dubai.

“From a risk management perspective, this development underscores the perils of over-reliance on anticipated technological trajectories,” d’Ambrosio said, noting the possible downside for G42 and other companies backed by IHC – which is led by Sheikh Tahnoon bin Zayed, the UAE National Security Advisor and Chairman of sovereign wealth funds ADQ and ADIA.

“The rapid advancement of AI capabilities, coupled with the emergence of more affordable alternatives, necessitates a reassessment of investment strategies,” he said.

New rules taking force on Monday now allow foreigners to invest in publicly traded companies owning real estate in the Islamic holy cities of Mecca and Madinah, another step in Saudi Arabia effort to attract overseas funds.

According to a statement from the Capital Market Authority, those who wish to invest can purchase shares and convertible debt instruments in firms listed on the Saudi stock exchange that own real estate within the boundaries of the cities, Bloomberg reports.

Still, the CMA said that foreign ownership cannot exceed 49% of a company’s listed shares.

Following the news, property stocks rose, including shares of Jabal Omar Development Co. that jumped as much as 10%.