Happy Monday everyone!

In today’s top stories shaping the region’s business landscape: Hyundai breaks ground with its first Middle Eastern manufacturing plant in Saudi Arabia, signaling a major step in the Kingdom’s industrial ambitions. Meanwhile, the Qatar Economic Forum has added QR 177.5 million to the nation’s GDP and created 900 jobs since 2022, reinforcing Doha’s global convening power. And in media, OSN CEO Joe Kawkabani speaks exclusively to Forbes Middle East about the platform’s $57 million deal with Warner Bros Discovery — a move set to redefine the future of streaming in MENA.

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.

Hyundai Launches First Middle Eastern Manufacturing Plant In Saudi Arabia

🔹 What Is It About:

• Hyundai Motor Company and Saudi Arabia’s Public Investment Fund (PIF) have inaugurated Hyundai Motor Manufacturing Middle East — the automaker’s first production facility in the region.

• Located in the King Salman Automotive Cluster within King Abdullah Economic City (KAEC), the 500k sqm facility will manufacture both internal combustion engine vehicles and electric vehicles.

• The plant is expected to attract USD 500 million in investment and aims to begin production by Q4 2026, with a target annual output of 50,000 vehicles.

• The JV agreement was signed in October 2023, with PIF owning a 70% stake and Hyundai holding 30%, contributing technical and commercial expertise.

• A SAR 175.7 million ground lease agreement was signed with Emaar, The Economic City, to develop the plant in KAEC’s Special Economic Zone.

🔹 Why It Matters:

• The project is expected to contribute around USD 5 billion to Saudi Arabia’s GDP by 2045, supporting the Kingdom’s economic diversification efforts under Vision 2030.

• It marks a significant step in Saudi Arabia’s ambition to become a regional automotive hub, boosting local manufacturing and high-tech job creation.

• The launch follows a series of high-profile automotive investments by PIF, including Lucid Motors’ regional EV plant, the Ceer EV brand with Foxconn, and a USD 550 million tire manufacturing JV with Italy’s Pirelli.

🔮 What’s Next

• Hyundai’s facility is set to start production in late 2026, with a focus on scaling local vehicle and EV output.

• The plant is expected to play a strategic role in advancing Saudi Arabia’s domestic supply chain for auto parts and final assembly.

• As part of broader industrial goals, the Kingdom is likely to announce additional automotive sector partnerships in the coming years.

ODEUM – A Cutting-Edge Content Studio for All Your Production and Social Media Management Needs

📰 What is it about?

• Odeum, the content studio built for modern media consumption, partnering with brands to deliver tailored content services while also creating original productions under the Augustus Media network.

💡 Why Choose ODEUM?

At ODEUM, we provide end-to-end media solutions to elevate your brand across multiple platforms.

• Video: Distribution, post-production, production, live streaming, series and show creation, animation, branded content, AI-powered video creation, CGI video creation.

• Social Media: Account takeovers, strategic posts, tactical competitions.

• Copywriting: Branded content hubs, sponsored articles.

• Events: Media partnerships, co-branding, guest list curation, ticket commerce.

• Audio: Podcast production, hosting, voiceovers, audio ads.

• Online Advertising: Programmatic, display, paid social, affiliate marketing.

🔜What’s next?

• Have a project in mind? Let's make it happen!

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Follow ODEUM on LinkedIn, Instagram and X.

Markets

Qatar Economic Forum Adds QR 177.5 Million To Qatar’s GDP, Creates 900 Jobs Since 2022

🔹 What Is It About:

• Qatar Economic Forum, organized by Media City Qatar in partnership with Bloomberg, has contributed QR 177.5 million to Qatar’s GDP and created over 900 full-time jobs between 2022 and 2024.

• The announcement was made by Media City Qatar CEO Eng. Jassim Mohamed Al Khori during a press conference ahead of the forum’s fifth edition, taking place May 20–22 in Doha.

• The 2024 edition will convene over 2,500 global leaders, with speakers from government, energy, finance, real estate, tourism, and tech sectors, including Donald Trump Jr., Elon Musk (virtually), and J.P. Morgan's Mary Callahan Erdoes.

🔹 Why It Matters:

• The forum has become one of the world’s most influential economic gatherings, hosting 7,500+ participants from 150+ countries since its inception.

• It has significantly boosted Qatar’s international visibility, reaching 300 million homes in 2024 alone, generating QR 67.6 million in marketing value, and increasing global positive perception of Qatar by 18%.

• The 2024 edition stands out for its commitment to diversity, with 70% of participating CEOs and 23% of speakers being women.

• Key Qatari figures—including Ministers of Energy, Finance, Central Bank, and Tourism—will play central roles in shaping the conversations, reflecting the Gulf’s rising influence in the global economy.

🔹 What’s Next:

• This year’s theme, “The Road to 2030: Transforming the Global Economy,” will explore key shifts and the region’s role in shaping the final stretch toward major development goals.

• The forum will focus on five main pillars: geopolitics and trade, energy and security, technology trends, business and investment outlook, and sports and entertainment.

• Organizers aim to enhance Qatar’s reputation as a hub for high-level dialogue, deepen cross-border collaboration, and provide international visitors with strong cultural and investment incentives to return.

Protect Your Reputation Before the Headlines Hit

In an era where one viral post can undo years of work, IRM360 is hosting a private, invite-only event in Dubai Marina on May 21st, 2025, designed for those who can’t afford to leave their reputation to chance. Organized by Nino Kader, Founder and CEO of IRM360 — the strategist credited with turning around the Qatar World Cup’s global image — and Dennis Broberg, Founder of Natanyos Marketing, who has generated over $100M in ad-driven revenue while keeping high-profile brands protected from exposure risks.

Who should attend? Founders, public figures, family offices, and professionals who advise them.

Date: May 21, 2025
Location: Dubai Marina
Format: Morning or afternoon session (strictly invite-only)

Seats are limited. Apply for your private invitation.

Forbes Middle East Exclusive: OSN CEO Joe Kawkabani On The $57M Warner Bros Deal

🔹 What Is It About:

• Warner Bros. Discovery (WBD) has acquired a one-third stake in OSN Streaming Ltd (OSN+) for $57 million, marking a significant endorsement of OSN’s streaming pivot.

• The strategic deal signals a commitment to co-producing locally relevant, globally exportable content, and deepening ties between OSN+ and WBD’s streaming service Max (soon to be rebranded HBO Max).

• It follows a broader transformation at OSN, including the 2022 relaunch of OSN+, a merger with Anghami in 2024, and multiple content partnerships with HBO, NBCUniversal, and Warner Bros.

• CEO Joe Kawkabani, who took the helm in 2022, has steered the group from a traditional pay-TV model to a digital-first, content-driven platform with regional ambitions.

🔹 Why It Matters:

• The $57M investment affirms global confidence in the MENA streaming market, with OSN emerging as a key local player capable of bridging Western and regional content.

• WBD's involvement enhances OSN+’s international positioning and content pipeline, while also validating the MENA region’s growing appetite for premium, culturally resonant stories.

• The deal provides OSN access to WBD’s global expertise and 122M+ subscribers, while promoting Middle Eastern content creation at global standards.

• Kawkabani’s leadership—despite a non-media background—has transformed OSN’s trajectory, aligning it with market trends and youth-driven digital behavior.

🔹 What’s Next:

• OSN will focus on engagement-first growth, expanding its Arabic content slate while maintaining access to global hits like The Last of Us and House of the Dragon.

• The group plans to invest up to $55 million in Anghami, exploring synergies between video, music, and regional tech ecosystems.

• While an IPO isn’t imminent, Kawkabani says going public remains a future possibility if conditions align.

• Expect more original productions, regional co-productions, and cross-platform innovation, as OSN+ positions itself as the streaming destination for the Arab world’s next generation.

🔍From Smashi Business’ Desk

• In his social media post, HH Sheikh Mohamed emphasized the UAE’s and US’ shared commitment to advancing innovation, investment, and global progress.

🔍In other news…

• UAE: Higher premiums, no rains benefit insurance sector as profits jump to 24%.

• Qatar’s Hamad International Airport came third on the list of world’s cleanest airports.

• 400 UAE companies benefit from AED65.7 billion contract awards in H1 2025 as ADNOC boosts local economic growth.

• Public bus coverage now reaches 88% of Dubai’s urban areas: RTA.

• UAE Government, WEF set stage for launching Global Future Councils in October.

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