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Semafor Gulf
🟡 Semafor Gulf: Israeli evacuation
In today’s edition: Saudi revamps management of $320 billion pension fund, and lessons from one of the world’s wealthiest nations on getting richer.
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Dubai Airport records busiest-ever first half
The increase puts the airport on track to reach its target of 96 million passengers this year.
Courtesy of Dubai International Airport
Dubai cracks down on overcrowded apartments
Previous deadly blazes have involved partitioned units used by low-wage foreign workers.
Jakub Porzycki/NurPhoto via Getty Images
Why the Saudi-led plan for Palestine offers Israel a way out
Advancing a two-state solution serves American, Arab, and long-term Israeli interests.
French Foreign Minister Jean-Noel Barrot and Saudi Foreign Minister Faisal bin Farhan Al-Saud. Kylie Cooper/Reuters.
Saudi’s $320 billion pension fund plans management overhaul
Hassana has chosen an interim CEO amid an exodus of senior executives, and the fund is expected to revamp its top team.
Bernd von Jutrczenka/picture alliance via Getty Images
Abu Dhabi company plans data centers in space
Madari Space is planning facilities that would operate in low Earth orbit and provide compute for AI models processing data generated in space.
Joe Skipper/Reuters
Netflix, Shahid launch Middle East streaming bundle
Shahid, which is majority-owned by the kingdom’s sovereign wealth fund, leads the Middle East’s $1 billion streaming market.
Francis Mascarenhas/Reuters
UAE firm leads project to map Africa
The project aims to map 54 countries which suffer from data gaps that the companies say hinder infrastructure development, investment, and planning.
ADNOC’s $14B deal faces EU scrutiny
Regulators said the probe stemmed from concerns that state support for ADNOC could distort competition in the bloc’s market.
Qatar threatens to halt LNG exports over EU regulations
Qatar threatened to halt LNG exports to the EU if it moves ahead with new legislation requiring companies to address human rights and environmental risks in their supply chains.
Saudi regulator compensates stock victims for the first time
The Capital Market Authority used new powers to fine individuals and companies for manipulating stock prices, giving $11 million back to investors.
US investor buys Saudi soccer club in first foreign sale
US investor Harburg Group acquired Saudi football team Al-Kholood as the kingdom seeks to transform its Pro League into a global business.
France-Saudi UN talks on two-state solution begin
French President Emmanuel Macron tried to build support for the event by committing to recognizing a Palestinian state at the UN General Assembly in September, but US President Donald Trump said Macron’s ‘statement doesn’t carry weight.’
Abu Dhabi mansion breaks record for most expensive in the UAE capital
With eight bedrooms, a private cinema, wellness suites, and panoramic sea views, the house is part of developer Aldar’s new ultra-luxury complex.
Saudi ramps up Syrians bets to thwart the spoilers
Saudi Arabia committed a $6.4 billion investment in Syria one week after Israel struck the presidential palace in Damascus.
Hans Zimmer is having a Gulf moment
The award-winning composer is crafting a new “sonic identity” for Qatar Airways, reworking Saudi Arabia’s national anthem, and playing to sold-out arenas.
Kuwait, Qatar to invest billions in Egypt
Investors are targeting hard assets rather than continuing the practice of providing financial aid to Cairo.
Emirates is on one of aviation’s biggest hiring sprees
The hires will support the airline’s global network growth and increasing passenger demand.
UAE pledges to ‘fast-track’ US AI plans
Abu Dhabi reiterated its pledge to invest $1.4 trillion in the US economy, and its ambassador said the UAE is willing to “fast track” previously discussed AI projects.