Happy Wednesday everyone!

Global finance and power moves are making waves across the Middle East and beyond. Norway’s $2 trillion sovereign wealth fund is taking a hard stance by divesting from Caterpillar over alleged abuses in Gaza and the West Bank, sending a strong signal to international corporations. In Saudi Arabia, Prince Al-Waleed Bin Talal is reportedly eyeing a full takeover of Al-Hilal just as the Public Investment Fund considers reshaping its sports portfolio. Meanwhile, Kuwait has revoked Al Sabah’s business licenses after the owner’s citizenship was withdrawn, raising questions about regulatory authority and investor confidence in the region.

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Norway’s $2 Trillion Fund Divests from Caterpillar Over Gaza and West Bank Abuses

🔹 What Is It About

Norway’s sovereign wealth fund, the world’s largest at $2 trillion has divested from U.S. construction giant Caterpillar and five Israeli banks. The decision stems from Caterpillar’s bulldozers being used in unlawful demolitions in Gaza and the West Bank, and the banks’ financial role in supporting settlement construction.

🔹 Why It Matters

This move underscores how major institutional investors are increasingly enforcing ethical standards tied to human rights. It puts global pressure on corporations linked to conflict zones and highlights growing scrutiny of Israel’s settlement expansion, deemed illegal by international law.

🔹 What’s Next

The divestment could prompt other funds to reexamine their portfolios and push Caterpillar, as well as Israeli banks, to address compliance risks. With Israel advancing major new settlement plans, expect heightened investor activism and possible diplomatic fallout.

Markets

Prince Al-Waleed Bin Talal Reportedly Seeks 100% Takeover of Al-Hilal as PIF Mulls Club Sales

🔹 What Is It About

Saudi billionaire Prince Al-Waleed bin Talal, a longtime golden member of Al-Hilal, is rumored to have filed a request to acquire full ownership of the club. This comes amid reports that Saudi Arabia’s Public Investment Fund (PIF) may sell its majority stakes in the kingdom’s four biggest clubs, Al-Hilal, Al-Nassr, Al-Ittihad, and Al-Ahli to private investors.

🔹 Why It Matters

A sale would mark a historic shift from state to private ownership in Saudi football, potentially reshaping its financial landscape. Prince Al-Waleed’s deep financial contributions including a $400M investment and even flying Neymar to Riyadh on his Boeing 747, make him a top contender, signaling that high-profile investors could drive the next phase of Saudi sports.

🔹 What’s Next

If approved, the deal could accelerate privatization of Saudi sports and attract more global investment to the SPL. Leadership changes at Al-Hilal already point to a new era, while other wealthy Saudis may step up to bid for the remaining clubs.

Kuwait Revokes Al Sabah’s Licences Following Owner’s Citizenship Withdrawal

🔹 What Is It About

Kuwait’s Ministry of Information has revoked the licences of Al Sabah newspaper and satellite TV channel after their owner, Dr. Barakat Hudaiban Al Rashidi, was stripped of his Kuwaiti nationality by Emiri decree. The move forced the channel to stop broadcasting and the newspaper to halt publication immediately.

🔹 Why It Matters

This development highlights the close ties between political power and media freedom in Kuwait. Shutting down one of the country’s longstanding media outlets raises questions about press independence, governance, and the future of privately owned media institutions.

🔹 What’s Next

Reports suggest a local investor may acquire the Al Sabah media group. If so, expect leadership changes, a potential relaunch under new management, and a reshaped Kuwaiti media landscape, possibly with tighter state oversight or altered editorial direction.

👨‍💻From Smashi Business’ Desk

• Dreamers: From Setback to Sweet Success: Mazen Kanaan’s House of Pops Goes Global.

• Dubai’s Step Takes Silicon Valley by Storm with Sold-Out SF Pitch Showcasing Next-Gen Startups.

• UAE Billionaire Khalaf Al Habtoor Bans Mobile Phones in Classrooms at Emirates International School.

• Mohamed Alabbar Highlights Arab Cultural Bonds Over Dinner at Egypt’s Marassi Hotspot.

• Paul Graham Blasts Netanyahu Over Deadly Gaza Hospital Strikes, Condemns Rising Journalist Death Toll.

🔍In other news…

• Naguib Sawiris Tops Egypt’s Rich List with $9.2B Fortune, Outpacing Brother Nassef.

• UAE Proptech Holo Secures $22M Series A to Expand Digital Mortgage Platform Across Saudi and GCC.

• Falak Angels Backs Saudi Fintech Blomal Capital Through Four-Member SPV.

• Saudi public service super-app boosts organ donation.

• Saudi VC firm Impact46 acquires Kammelna for $53mln.

🏦 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 accepts 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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