Happy Monday Everyone!

Web Summit Qatar 2025 kicked off with some great words from the Prime Minister, His Excellency Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani: “In all my travel, people ask me how Qatar is a small state able to punch over its weight. Being a small state like Qatar is similar to being a startup in this exciting digital age, where an entrepreneur with a brilliant idea can change the world.”

Web Summit founder Paddy Cosgrove was happy that he chose Qatar, even with other big Middle Eastern countries showing interest.

Day 2 is on now and you can follow Smashi Business for all the updates if you have a severe case of FOMO.

Top stories for today are:

Saudi Arabia’s viral date drink Milaf Cola is coming soon to the UAE, and the wider GCC, courtesy Lulu, Elon Musk’s father on new tower in the UAE, and Syria will need 55 years to rebuilt at the current rate, as per UNDP.

Scroll down for details.

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

🇸🇦 Saudi Milaf Cola Expands to GCC with Lulu, starting with UAE

📰 What is it about?

• Saudi Arabia’s iconic Milaf Cola is now set to hit the shelves at LuLu hypermarkets across the GCC, starting with the UAE.

• The expansion follows a deal between LuLu Group and Al Madina Heritage, a company backed by Saudi’s Public Investment Fund (PIF).

💡 Why it matters?

• Milaf Cola is a homegrown Saudi brand that carries strong cultural and nostalgic value.

• This move strengthens Saudi brands in regional retail markets, supporting the Kingdom’s broader economic diversification under Vision 2030.

• LuLu Group, a major retail player, continues to expand its partnerships with Saudi-backed enterprises, reinforcing trade ties between Saudi Arabia and the UAE.

🔜 What’s next?

• With a strong GCC launch, Milaf Cola could soon expand to India, tapping into one of the world’s largest beverage markets.

• The deal signals more Saudi brands potentially making their way to international markets via LuLu’s vast retail network.

Web Summit Qatar 2025 Day 2 is Here!

Web Summit Qatar 2025 is taking place from February 23 to 26 at the Doha Exhibition and Convention Center (DECC). Building on the success of its inaugural edition, this premier technology conference aims to unite over 15,000 attendees from 180 countries, including 1,000 startups and 400 investors.

The event will feature an impressive lineup of speakers, such as Alexis Ohanian, Founder & General Partner of Seven Seven Six and Co-Founder of Reddit; Eduardo Saverin, Co-founder and Co-CEO of B Capital; Alexandr Wang, Founder and CEO of Scale AI; and Laura Chambers, CEO of Mozilla.

Web Summit Qatar 2025 serves as a vital platform for networking, collaboration, and idea exchange, fostering innovation and entrepreneurship in the Middle East and beyond. The conference will cover a wide range of topics, including artificial intelligence, fintech, cybersecurity, and digital transformation, providing attendees with insights into the latest industry trends.

We, Smashi Business, will be attending the event to bring you all the updates. You can follow us here…

🚀 Errol Musk is Launching Musk Tower & Institute in UAE – A Game-Changer for Tech & Crypto!

📰 What is it about?

• Errol Musk, father of Elon Musk, is launching the Musk Tower and Musk Institute in the UAE, in partnership with the Al-Khaili Group.

• The project aims to be a global hub for technology, renewable energy, and blockchain innovation, with the MuskIt token ($MUSKIT) playing a key role.

• The Musk Institute will serve as a think tank, uniting investors, entrepreneurs, and industry leaders to tackle global challenges.

💡 Why it matters?

• UAE’s growing tech ecosystem is attracting global innovators, and this project cements its position as a hub for blockchain, crypto, and fintech.

• The MuskIt token offers real-world utility, providing exclusive access to events, investments, and potentially even staking for ownership in Musk Tower.

• The initiative highlights the UAE’s commitment to decentralized finance (DeFi) and innovation, further strengthening its status in global tech leadership.

🔜 What’s next?

• The Musk Tower will feature an investment fund for early-stage crypto & blockchain startups, R&D labs, and a global partnership network.

• The Musk Institute will focus on water scarcity, lithium harvesting, quantum energy, IoT, and digital connectivity for Africa.

• With over 50,000 MuskIt holders, the project is gearing up to create a lasting legacy in the world of decentralized finance and technological innovation.

Markets

🇸🇾 Syria’s Economic Recovery Could Take 55 Years at Current Rate – UNDP

📰 What is it about?

• A UN Development Programme (UNDP) report warns that at current 1.3% annual growth, Syria’s economy won’t recover to pre-war levels until 2080.

• Decades of conflict have shrunk GDP to less than half of its 2011 value, with unemployment tripling and poverty reaching 90%.

• The report outlines that faster economic growth—up to 14% annually—is crucial for a quicker recovery within 15 years.

💡 Why it matters?

• Syria has lost $800 billion in cumulative GDP since the war began, leading to a devastated economy and crumbling infrastructure.

• Public services are collapsing, with hospitals, schools, energy, and water systems in critical condition.

• The country’s Human Development Index (HDI) has dropped below its 1990 level, erasing decades of progress.

• A prolonged recovery delays stability, job creation, and regional economic reintegration, prolonging Syria’s humanitarian crisis.

🔜 What’s next?

• UNDP calls for a long-term recovery plan, focusing on:

  • Infrastructure rebuilding (healthcare, education, energy).

  • Revitalizing agriculture for food security.

  • Economic stabilization & governance reforms to attract investment.

• The UN and international partners are working on early reconstruction efforts to speed up recovery and reduce dependency on humanitarian aid.

🔍In other news…

• Saudi Arabia’s economic diversification to drive robust growth in 2025: report.

• Oman set to start plastic recycling plant this year.

The Latest from the Smashi Business Studio

Were you forwarded this email? Subscribe here