Happy Wednesday everyone!

Last night oil jumped on the fears of escalation after Israel attacked the city of Doha, which Qatar called ‘cowardly’ and ‘reckless’. Details here. Also, if you want to know the global reaction on it, you can see it here.

For our top stories today: Dubai businessman Khalaf Al Habtoor has visited Damascus, stressing that “true investment is in human beings,” with plans to support job creation and Syria’s recovery. Meanwhile, private equity giants Permira and Blackstone are investing $525 million in Dubai’s Property Finder, marking Permira’s first Middle East deal and signaling strong investor appetite for regional real estate platforms. In Europe, Spain has imposed a total arms embargo on Israel, with Prime Minister Pedro Sanchez denouncing the war in Gaza as genocide and pledging increased humanitarian aid for Palestinians.

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Markets

Dubai Businessman Khalaf Al Habtoor Visits Syria, Emphasizes Human-Centric Investment

🔹 What Is It About

Dubai entrepreneur Khalaf Al Habtoor arrived in Damascus to underline that his visit is driven by moral and humanitarian commitment, not solely economic interest. Meeting Syrian officials and business leaders, he highlighted his focus on supporting local communities and exploring opportunities that prioritize people and job creation over profits.

🔹 Why It Matters

Al Habtoor’s visit reflects confidence in Syria’s potential and the resilience of its citizens. By emphasizing investment in human capital and decent employment, he signals a shift toward development strategies that empower youth and strengthen social and economic stability in a country emerging from prolonged conflict.

🔹 What’s Next

The businessman intends to engage in projects aimed at fostering economic growth, creating job opportunities, and supporting Syria’s recovery. He called for partnerships to help rebuild the nation, emphasizing collaboration to honor Syria’s rich history while shaping a sustainable and prosperous future for its people.

Permira and Blackstone Acquire $525 Million Minority Stake in Dubai’s Property Finder

🔹 What Is It About

Private equity giants Permira and Blackstone have taken a $525 million minority stake in Dubai-based real estate platform Property Finder. General Atlantic, an early investor since 2018, partially exits but remains a significant shareholder. The deal will give Property Finder access to the global expertise of all three firms as it seeks to expand across the Middle East and North Africa real estate markets.

🔹 Why It Matters

This marks Permira’s first investment in the Middle East, highlighting the growing interest of global private equity in the Gulf region. Dubai’s property sector, boosted by foreign investment and residency reforms, has seen substantial growth, making it an attractive market for institutional investors. Property Finder’s expansion aligns with regional real estate opportunities, including ventures into Saudi Arabia and Turkey.

🔹 What’s Next

The transaction, pending regulatory approval, positions Property Finder to scale its platform and leverage private equity support for further regional expansion. With Dubai’s real estate market showing signs of cooling, strategic investment and expertise from Permira, Blackstone, and General Atlantic could help the platform navigate changing market conditions while consolidating its leadership in the region.

Spain Imposes Total Arms Embargo on Israel Amid Gaza Crisis

🔹 What Is It About

Spain has announced sweeping measures against Israel, including a full arms embargo, citing the need to “stop the genocide in Gaza” and support the Palestinian population. Prime Minister Pedro Sanchez condemned attacks on civilians, highlighting tens of thousands dead and millions displaced. Measures include banning military sales to Israel, denying port and airspace access for military shipments, and restricting entry for individuals involved in human rights violations.

🔹 Why It Matters

Spain’s actions signal a rare European stance against Israel’s military campaign, reflecting public opinion and a growing focus on international law and human rights. The move challenges traditional alliances, drawing sharp criticism from Israeli officials who labeled it “anti-Semitic.” It also underscores tensions over European responses to Gaza, ICC warrants, and broader humanitarian responsibilities amid escalating conflict.

🔹 What’s Next

The royal decree will be approved by Spain’s cabinet and ratified by parliament, formalizing existing restrictions. Spain plans significant humanitarian aid for Gaza, including 150 million euros by 2026, and will continue diplomatic engagement to uphold peace and international law, despite Israeli pushback, including barring two Spanish ministers from entering the country.

👨‍💻From Smashi Business’ Desk

• Arada & Tashas Group Launch AED100M Venture to Bring Chic Cafés and Dining Concepts to the GCC, Starting in Sharjah 2025.

• Red Sea Cable Cuts Disrupt Internet Across UAE and Region, Repairs May Take Weeks.

• Saudi Arabia Unveils $1.8B Qiddiya Olympic Stadium to Anchor 2030 Sports Vision.

• Copycat Shut Down: “Salt London” Locked Out After Lease Forfeiture in Leicester Square.

• Qatar’s $524B Wealth Fund Supercharges AI Push with Anthropic and 25 More Tech Bets.

🔍In other news…

• PIF to set out strategy for ‘all the way to 2040 and beyond’

• Revolut’s in-principle licence clears path to UAE launch

• Manchester City FC settles Premier League sponsorship dispute

• UAE’s MBZUAI launches K2 Think, a smaller AI system to rival OpenAI and DeepSeek

• Jeddah to get new EV charging stations under Petromin partnership 

🏦 Crypto Corner

• Michael Saylor — Executive Chairman of MicroStrategy and one of Bitcoin’s most vocal corporate advocates — will make his first-ever appearance in the UAE at Bitcoin MENA in Abu Dhabi.

• Hut 8, part of a American BTC which is partially owned by Donald Trump Jr. and Eric Trump, Gets Approval to Operate in Dubai Financial Hub.

• Abu Dhabi Judicial Department now accept AE Coin.

We are launching a Smashi Crypto newsletter in September 2025! Subscribe to it here to get the weekly updates from the world of digital assets.

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