Happy Saturday everyone!

Today we have a sweet treat for you, an interview with Chef Nouel Catiz, the man behind the famous Dubai Chocolate recipe, which has led to literal pistachio shortage across the globe.

Meanwhile, we are also going to throw light on: BCG Executives Removed From Leadership Roles Over Controversial Gaza Project, and how Gulf countries are partnering with Nvidia as the chip giant became the first-ever to hit $4T market cap as a publicly listed company.

But before that: For quick daily updates, follow us on Instagram, and you can watch our Smashi Business Show live every weekday from 10AM onwards (UAE time). Also, you can join our Whatsapp channel to receive updates from the business world.

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Nvidia Hits Historic $4 Trillion — And the Gulf Is a Partner for the Next Phase

🔹 What Is It About

Nvidia has become the world’s first $4 trillion company, solidifying its dominance in the global AI race. While the headlines focus on Silicon Valley, Gulf nations like Saudi Arabia, the UAE, and Qatar have emerged as critical partners. From AI factories in Riyadh to sovereign cloud platforms in Abu Dhabi and regional GPU deployments in Doha, Nvidia’s growth is now tightly intertwined with the Middle East’s ambitious AI infrastructure buildup.

🔹 Why It Matters

The strategic partnerships between Nvidia and Gulf sovereign-backed entities mark a powerful convergence of capital and compute. These deals serve national visions like Saudi’s Vision 2030 and the UAE’s “We the UAE 2031,” while also offering Nvidia resilient markets beyond U.S.-China tech tensions. In a world where AI leadership defines geopolitical relevance, Gulf countries are using Nvidia not just as a vendor — but as a cornerstone of their digital futures.

🔹 What’s Next

With multi-billion-dollar investments from G42, Humain, and Ooredoo, Nvidia’s footprint in the Middle East is set to grow further. As regional AI hubs come online, the Gulf is positioning itself not only as a customer, but as a global co-pilot in Nvidia’s next trillion-dollar chapter — shaping how artificial intelligence is developed, deployed, and governed across the world.

Markets

BCG Executives Removed From Leadership Roles Over Controversial Gaza Project

🔹 What Is It About

Two senior Boston Consulting Group executives, Adam Farber and Rich Hutchinson, have been stripped of their leadership roles following internal investigations into the firm’s involvement in Gaza-related projects. This comes after Financial Times reports revealed BCG helped model the costs of relocating Palestinians and played a key role in setting up the Gaza Humanitarian Foundation (GHF), an Israel- and US-backed aid initiative aiming to replace UN-led efforts.

🔹 Why It Matters

The revelations sparked significant backlash, prompting the UK parliamentary committee to request clarification from BCG. The firm's Gaza work has been labelled reputationally damaging by CEO Christoph Schweizer, who admitted to “process failures” and “misplaced trust” that enabled the controversial project. The scandal has already led to the dismissal of the partners directly responsible and undermined BCG’s standing in its social impact and risk practices.

🔹 What’s Next

Farber and Hutchinson will remain at BCG in client-facing roles, while the firm seeks to rebuild internal controls and repair its image. The UK parliamentary committee’s request signals potential further scrutiny. Meanwhile, questions remain over how deeply BCG was involved in shaping policy that could impact the future of Palestinians in Gaza.

🎙️ Q&A with Chef Nouel Catis: The Man Behind Dubai’s Viral Chocolate Flavor

From hotel kitchens to Shark Tank UAE, Chef Nouel Catis has redefined what it means to be a pastry artist in the Middle East. In this Q&A with our sister brand under Augustus Media, Lovin Dubai, he shares the journey behind Dubai Chocolate, how he turns nostalgia into products, and what it really takes to build a viral dessert brand in the region.

Q: For those who don’t know you yet, who is Chef Nouel Catis?
A: I’m a pastry chef with deep roots in hotel kitchens across the world — from Burj Al Arab to Fairmont, from Beijing to Fiji. My focus has always been R&D, innovation, and creativity in desserts. A lot of popular sweets people have enjoyed in the Middle East over the past decade? There’s a good chance I had a hand in them.

Q: Let’s talk about your big break — what was “Baby Dynamite”?
A: That was the first viral dessert I created — a mix of ice cream, brownie, and cake with a melting sauce poured on top. It became a sensation in the Middle East and jump-started my reputation as someone who could create visually exciting, crave-worthy desserts.

Q: You later went viral again with “Dubai Chocolate.” What’s the story behind that?
A: It’s a pistachio and kunafa-based chocolate flavor inspired by my travels and my time in Jordan, where I fell in love with Arabic desserts. Kunafa became a core ingredient for me — emotionally and creatively. Dubai Chocolate reflects the essence of the region in a format people can gift, share, and enjoy globally.

Q: What’s your creative process like when developing a flavor?
A: I describe myself as a “heritage pastry chef.” I dig into childhood memories — mine and others’ — and reimagine them for a modern audience. It’s not just about flavor; it’s about emotional connection and cultural relevance. Then I test with my team, iterate, and follow my instincts. If I can sleep peacefully at night, it means the recipe’s done.

Q: You were recently on Shark Tank UAE — what happened?
A: I pitched Dubai Chocolate on the show and received offers from three sharks. In the moment, I agreed to a 51% stake — I was overwhelmed, excited. But later, I reconsidered. I realized I am the brand, the ideas come from me, and I should be in control. I renegotiated to 20%. It was a lesson in ownership and self-worth.

Q: How do you handle the pressure of constantly having to create the “next big thing”?
A: Honestly, the fear is real. What if the inspiration stops? But I combat that by staying curious — I travel, talk to people, and stay plugged into what moves people emotionally and culturally. Relevance is everything in today’s market.

Q: What’s your vision for the brand now?
A: I’ve launched a second brand, The Sweet Life, where customers can build their own desserts with 50,000+ combinations. It’s all about personalization. I’m also continuing to celebrate multicultural identity through flavors — the latest is Manila Chocolate, a blend of ube and baklava that fuses Filipino nostalgia with Middle Eastern familiarity.

Q: Final thoughts for aspiring food entrepreneurs?
A: Know your audience. Know your worth. And never forget — the product isn’t just the food, it’s the story and the emotion it carries.

👨‍💻From Smashi Business’ Desk

• Dreamers: Saudi billionaire Prince Alwaleed bin Talal—one of the Middle East’s most influential investors — is back in the spotlight.

• Sequoia Capital partner Shaun Maguire is once again under fire—this time for targeting Zohran Mamdani’s former intern, Hadeeqa Malik, a City College student.

• The ICP has debunked viral rumours claiming Indians and Bangladeshis can buy a lifetime Golden Visa for AED 100,000.

🔍In other news…

• Saudi Arabia allows foreigners to own property

• Dubai tokenization platform Prypco Mint sells out another property - this time in under 5 minutes

• UAE Central Bank revokes license of Al Khazna insurance company

• Lulu adds another hypermarket in Saudi Arabia as it seeks revenue boost

• Huawei launches next-gen devices at ‘Fashion Next’ showcase in Dubai

🏦Crypto Corner

• BTC smashed its 6th all-time high in 48 hours, soaring past $118,600!

• You can soon use crypto when paying at Dubai Duty Free and when flying Emirates in new landmark deal

• UAE authority clarifies no Golden Visa issuance for crypto investors

• Dubai Land Department teams up with Crypto.com on digital real estate investment plan

• Bitcoin Miner Tied to Trump Sons Plans Dubai Crypto Trading Team

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