Happy Friday everyone!

The U.S. has quietly approved a Qatari initiative to bankroll Syria’s public sector, signaling a shift in Washington’s long-standing sanctions stance. Qatar will fund $29 million a month, channeled through the UN, to pay civilian salaries in the war-torn country. Meanwhile, U.S. President Trump prepares for a high-stakes visit to Saudi Arabia, where civil nuclear talks are progressing despite the dropping of Israel normalization demands. And in Abu Dhabi, $80 billion energy spinoff XRG is drawing Wall Street’s attention as it prepares to ramp up U.S. investments aligned with Trump’s economic agenda.

But before that: You can join our Whatsapp channel too to receive updates from the business world.

For quick daily updates, follow us on Instagram, and you can watch our Smashi Business Show live every weekday from 10AM onwards (UAE time).

U.S. Backs Qatari Plan to Fund Syrian Civil Servants, Marking Shift in Sanctions Policy

📰 What’s it about:

• The United States has approved a Qatari initiative to fund the salaries of Syria’s public-sector workers, three sources told Reuters — offering a rare financial reprieve to the newly installed government of President Ahmed al-Sharaa.

• Qatar will transfer $29 million per month for three months, with a possible extension, to be disbursed via the United Nations Development Programme (UNDP).

• The grant has received a U.S. sanctions exemption, allowing it to bypass restrictions imposed during Bashar al-Assad’s rule.

💸 Why it matters:

• The deal signals a softening of U.S. policy toward Syria post-Assad, amid shifting power dynamics and regional recalibration.

• While the U.S. has long maintained strict sanctions on Damascus, the new leadership under Sharaa — a controversial but different figure from Assad — has prompted cautious re-engagement.

• The funds exclude Syria’s interior and defense ministries, reflecting lingering Western concerns about HTS (Hayat Tahrir al-Sham) and the militarized roots of the new leadership.

• The salary payments could fuel a 400% wage increase for more than a million civil servants, a much-needed boost in a country devastated by war and economic collapse.

🚀 What’s next:

• Qatar has been a key backer of the new Syrian government but had delayed action pending clarity on U.S. sanctions.

• U.S. Treasury’s Office of Foreign Assets Control (OFAC) is expected to issue a formal letter confirming the exemption.

• European countries have already begun easing sanctions more quickly than the U.S., suggesting a widening divide in Syria policy among Western allies.

• In a related step, Saudi Arabia and Qatar jointly paid off Syria’s World Bank debt, reopening access to international financing and suggesting wider Gulf support for re-engagement.

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!

• Book a studio or discuss your next big idea with us today.

Follow ODEUM on LinkedIn, Instagram and X.

Markets

US Softens Demands on Saudi-Israel Ties to Advance Nuclear Talks: Reuters

🗞️ What It’s About

• The United States is no longer requiring Saudi Arabia to normalize relations with Israel as a condition for advancing civil nuclear cooperation, according to sources cited by Reuters.

• This marks a major shift from the Biden-era approach, where nuclear talks were tied to broader goals, including Israeli normalization and a potential US-Saudi defense pact.

• The move comes ahead of President Donald Trump’s visit to Saudi Arabia next week, signaling a renewed diplomatic and economic push between Washington and Riyadh.

💡 Why It Matters

• Normalisation with Israel has long been a sensitive issue for Saudi Arabia, especially amid growing regional anger over Israel’s genocide in Gaza and Saudi insistence on Palestinian statehood.

• Delinking the nuclear file from Israeli recognition removes a key obstacle in the US-Saudi relationship and paves the way for major economic and arms deals.

• Saudi Arabia’s nuclear ambitions have sparked concerns due to its insistence on uranium enrichment, a step that could eventually enable weapons development — especially if Iran advances its own program.

• The U.S. is still pushing for a Section 123 agreement under the Atomic Energy Act, which mandates nonproliferation safeguards. But Saudi Arabia has resisted signing such a deal so far.

• A compromise under discussion involves a “black box” enrichment facility on Saudi soil, managed exclusively by US personnel.

🔜 What’s Next

• While a nuclear deal is not imminent, both sides are working through technical and political complexities to find common ground.

• Trump’s upcoming visit will include discussions on blockbuster economic deals, including an arms package worth over $100 billion and a potential Saudi investment increase to $1 trillion in the U.S.

• Talks with Iran over its nuclear program are progressing in parallel, with US officials aiming to prevent a regional arms race.

• Trump’s close ties with Saudi Arabia — forged during his first term and deepened post-presidency — are expected to accelerate cooperation on nuclear energy, defense, and strategic investments.

An $80 Billion UAE Giant Is Courting Trump And Wall Street With A Bold US Investment Bet

🗞️ What It’s About:

• XRG, an $80 billion investment firm spun off from Abu Dhabi National Oil Co. (Adnoc), is rapidly emerging as a major player in global dealmaking, particularly in the United States, reports Bloomberg.

• Backed by Abu Dhabi's financial muscle, XRG is eyeing large-scale acquisitions in sectors like natural gas, low-carbon energy, chemicals, AI, and data infrastructure.

• The firm is in talks with top Wall Street banks including Goldman Sachs and Morgan Stanley, aiming to double its size over the next decade.

• XRG is central to a broader $1.4 trillion UAE investment push into the US — a strategy that aligns with Donald Trump’s economic priorities as he returns to the White House.

💡 Why It Matters:

• Trump’s visit to Abu Dhabi next week underscores the growing UAE-US economic alignment, with XRG poised to be a cornerstone of this new relationship.

• With energy and technology at the core, Abu Dhabi seeks concessions from Trump — including access to restricted Nvidia chips, tariff exemptions, and faster M&A approvals.

• Sultan Al Jaber, Adnoc CEO and UAE Minister for Advanced Technology, is spearheading XRG’s mission and rallying support with slogans like “Make Energy Great Again.”

• Wall Street views XRG as a lucrative new client, especially as global deal volumes slow and competition for mega-deals intensifies.

• Abu Dhabi’s financial strength stands in contrast to regional rival Saudi Arabia, positioning the UAE as a more stable partner for US economic goals.

🔜 What’s Next:

• XRG is actively building an internal M&A team and considering a high-profile CEO with global investment expertise.

• Its board already includes global heavyweights like former BP CEO Bernard Looney and Blackstone President Jon Gray.

• XRG will begin deploying capital in high-value US assets, with a focus on natural gas and AI infrastructure.

• Policy developments — such as a potential relaxation of US chip export curbs and tariff negotiations — are expected to follow as UAE investments deepen.

• As one insider noted, XRG aims to be seen as a serious strategic player, not just a checkbook investor — signaling disciplined, value-focused acquisitions ahead.

🔍From Smashi Business’ Desk

• Dubai property agent: Check noise in the area you are buying a property.

• Egyptian agency boss enlists 4 lessons he learned from working on Shark Tank Egypt.

• Miral Group CEO proud as Disney comes to Abu Dhabi.

• Lebanese Fattal Group chairwoman: You can’t lead if you are running on empty.

🔍In other news…

• Emirates Group and Emirates airline were the most profitable globally in 2024-25 fiscal year.

• New Dubai airport expansion to drive a million jobs and housing.

• UAE airlines suspend flights to Pakistan after India's 'Operation Sindoor'.

• The Brooklyn Nine-Nine Terry Crews is the latest celebrity to own a property in Dubai.

• Abu Dhabi targets 400 locations for 1,000 new EV charging stations.

• Abu Dhabi's Sovereign Wealth Fund Mubadala Reports 9% Surge In Total Assets To $330B In 2024.

• Global news: Bill Gates Will Close Gates Foundation In 2045 After Donating 99% Of His Fortune

Latest from the Smashi Business Studio

Were you forwarded this email? Subscribe here