Happy Tuesday Everyone!

With a record 25,000+ participants this year and a sold out show, Web Summit Qatar 2025 is setting news standards. We first-hand witnessed the startups which are present at the event, and truth be told, if you think you have a unique startup idea, in some part of the world it has become a reality already. If you want inspiration for ideas, they are making short pitches on our stories here.

The highlight of day 2 was Hollywood star Will Smith making an appearance alongside Jay Shetty and the lesson was: storytelling is an art that every brand, established or non-established, has to perfect to make a mark. Also, the secret trick, according to Will Smith is to use the origin story and repeat it over and over and over and over… you get the idea!ee

For Day 3 updates you can follow Smashi Business.

Top stories for today are:

Emaar’s Mohamed Alabbar is bullish on projects in Egypt, Gaza rebuilding will require $50 billion, and UAE has pledged $40 billion investment in Italy.

Scroll down for details.

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

🏗️ Mohamed Alabbar Unveils Ambitious Plan to Transform Downtown Cairo

📰 What is it about?

• Emaar Properties, led by founder Mohamed Alabbar, has announced a massive investment plan to redevelop Downtown Cairo.

• The project aims to create a global tourism hub, drawing parallels to developments like Downtown Dubai.

• Alabbar emphasized the company's extensive experience, stating, "Not everybody can do this. Unless you have 20 years of experience in this type of business..."

💡 Why it matters?

• Economic Impact: The redevelopment is expected to boost Egypt's economy, potentially increasing tourism and creating job opportunities.

• Urban Revitalization: Transforming Downtown Cairo could preserve historical sites while introducing modern infrastructure, enhancing the city's global appeal.

• Emaar's Commitment: This initiative reflects Emaar's confidence in Egypt's real estate market, building upon their existing investments in the country.

🔜 What’s next?

• Project Details Awaited: Specifics regarding the project's scope, design, and timeline are yet to be disclosed.

• Stakeholder Engagement: Collaboration with Egyptian authorities and local communities will be crucial to ensure the project's success and cultural sensitivity.

• Monitoring Developments: Observers and stakeholders are keenly awaiting further announcements to understand the full impact of this ambitious plan.

Web Summit Qatar 2025 Day 3 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 is 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…

🏗️ More Than $50 Billion Needed to Rebuild Gaza After War – UN, EU, World Bank

📰 What is it about?

• A new UN, EU, and World Bank report estimates that Gaza will need $53.2 billion for reconstruction over the next 10 years after 15 months of war.

• The Gaza & West Bank Interim Rapid Damage and Needs Assessment (IRDNA) found $49 billion in destructionfrom October 2023 to October 2024.

• Housing took the biggest hit—with over 292,000 homes destroyed or damaged—requiring $15.2 billion to rebuild.

• The local economy has contracted by 83%, and 95% of hospitals are now non-functional.

💡 Why it matters?

• Massive economic devastation: The war has wiped out infrastructure, health, education, and industry, making life in Gaza nearly impossible.

• Humanitarian crisis: More than 2 million people remain displaced, with limited access to medical care, electricity, and clean water.

• International funding needed: The report stresses that a coalition of donors, private sector investment, and improved access to materials is critical for recovery.

🔜 What’s next?

• Arab-led reconstruction plan: Egypt is spearheading an alternative recovery initiative to keep Gazans in their homeland rather than mass displacement.

• Potential $20B Gulf funding: Arab and Gulf states may contribute to rebuilding efforts, with Egyptian President Abdel Fattah el-Sisi discussing the plan in Saudi Arabia before an Arab summit on March 4.

• Uncertain future: The fragile ceasefire remains at risk, with Israel not ruling out further conflict, making large-scale reconstruction difficult.

Markets

🇦🇪 UAE to Invest $40 Billion in Italy Under New Strategic Partnership

📰 What is it about?

• The UAE has pledged to invest $40 billion in Italy as part of a Comprehensive Strategic Partnership between the two nations.

• The investment will span key sectors such as artificial intelligence, data centers, space research, renewable energy, rare earths, and defense.

• Major UAE entities like Masdar, Taqa Transmission, EDGE Group, and MGX have signed agreements with top Italian firms, including Eni, Intesa Sanpaolo, Leonardo, and Fincantieri.

• The partnership also includes joint cybersecurity efforts, military cooperation, and technology transfer.

💡 Why it matters?

• Strengthening Global Influence: The UAE is deepening its footprint in Europe’s energy, defense, and AI sectors, reinforcing its position as a key international player.

• Economic Diversification: Investing in renewable energy, AI, and rare earths aligns with the UAE’s Vision 2030 strategy to reduce reliance on oil.

• Strategic Military & Tech Collaboration: The deal includes defense manufacturing, joint production, and cybersecurity cooperation, helping the UAE advance its military-industrial base.

• Expanding Energy Dominance: Masdar and Taqa’s deals with Eni give the UAE a bigger stake in European energy security and green technology markets.

🔜 What’s next?

• Deeper EU Engagement: The UAE’s investment in Italy could pave the way for similar deals with other European nations, expanding its economic and diplomatic reach.

• Growing Military Ties: Enhanced collaboration in defense and cybersecurity may lead to joint UAE-Italy weapons production and tech-sharing agreements.

• Energy Leadership: Masdar and Eni’s partnership in Albania suggests further UAE-led renewable projects in Europe.

• Follow-up Investments: Following Italy, the UAE may expand its strategic partnerships in Europe, mirroring its recent $10 billion deals with Saudi Arabia.

🔍In other news…

• Flydubai reports strongest financial results in its 15-year history.

• Dubai crypto regulator Vara monitoring Bybit hack.

• SoftBank CEO admits failing to deliver returns to PIF.

• Inside Saudi Arabia’s THE LINE: First look reveals the NEOM city rising from desert, an Al Arabiya exclusive.

• Saudi IT firm MIS sells investment in OpenAI, achieves $3.4m gain

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