👋 Good morning, Smashi Business Readers!

Today’s updates feature Saudi Arabia strengthening its global investments, Trump’s crypto venture stirring controversy, and a major US investment firm eyeing Saudi expansion.

Let’s dive in 👇️ 

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🚀 Saudi PIF and French Firm Ardian Complete $4B Stake Acquisition in Heathrow Airport

📰 What is it about?

• Saudi Arabia’s Public Investment Fund (PIF) and French investment firm Ardian have acquired a 37.6% stake in Heathrow Airport for $4 billion.

💡 Why it matters?

• This deal strengthens Saudi Arabia’s portfolio of global infrastructure investments, diversifying away from oil.

🔜 What’s next?

• The deal positions Saudi Arabia to further influence the global aviation sector and attract more investments.

Markets

💥 Trump’s New Crypto Venture Partners With Controversial Platform Linked to Hamas and Hezbollah

📰 What is it about?

• Donald Trump’s crypto venture, in partnership with the Tron platform, has faced backlash due to its connections with groups like Hamas and Hezbollah.

💡 Why it matters?

• The venture’s controversial partnerships may face regulatory challenges, affecting its credibility and future.

🔜 What’s next?

• Legal and regulatory hurdles may delay or reshape Trump’s cryptocurrency plans.

💭Quote of the day
“You can never leave footprints that last if you are always walking on tiptoe.” —Leymah Gbowee 👣 

🏢 Guggenheim Partners Considers Establishing Headquarters in Saudi Arabia

📰 What is it about?

• US-based investment firm Guggenheim Partners is exploring the possibility of setting up a regional headquarters in Saudi Arabia, eyeing infrastructure opportunities in the Gulf.

💡 Why it matters?

• The move aligns with Saudi Arabia’s Vision 2030, which seeks to boost foreign investments in the kingdom’s non-oil sectors.

🔜 What’s next?

• Guggenheim’s decision could signal a growing trend of global financial institutions expanding their presence in Saudi Arabia.

🔍In other news…

1. Dubai is shaping the future with over 800 AI companies calling it home “Dubai is the Future”

2. Saudi's PIF launches hotel management company Adeera to create homegrown hospitality brands

3. Better, MENA’s first men’s wellness startup, has secured $550,000 in a pre-seed funding round led by UAE-based Salica Spring Studios

4. Estonia's PLATMA lands $2.2M to power its MENA expansion

5. The Syrian pound has made a dramatic recovery in the black market, trading at 14,000 per US dollar for buying and 15,000 for selling

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