Happy Wednesday Smashi Business Readers!

Today’s top business stories highlight major developments shaping the region’s economic landscape. The UAE Cabinethas approved key initiatives, including a high-speed rail project, a new cybersecurity strategy, and expanded talent attraction policies, reinforcing the nation’s global leadership. BlackRock is exploring an office in Kuwait, deepening its Gulf ties amid rising investment opportunities. Meanwhile, Riyadh Air has inked a multi-year sponsorship deal with LIV Golf, boosting Saudi Arabia’s presence in global sports. Stay tuned for more insights on business, finance, and innovation in the MENA region.

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UAE Cabinet Approves Major Infrastructure, Cybersecurity, and Economic Initiatives

📰 What is it about?

• High-Speed Rail Project: The UAE Cabinet, chaired by H.H. Sheikh Mohammed bin Rashid Al Maktoum, reviewed the Etihad High-Speed Passenger Rail, a 350 km/h railway set to boost connectivity and contribute AED 145 billion to GDP over 50 years.

• New Logistics Integration Council: Aimed at positioning the UAE as a global trade hub, the council will align federal and local entities like ports, transport, and customs.

• Cybersecurity Strategy: The Cabinet approved a National Cybersecurity Strategy, reinforcing the UAE’s global leadership in digital security and ensuring a resilient cyber infrastructure.

• Innovation Month 2025: Launched under the theme "The Power of Innovation 10", marking a decade of government-led innovation initiatives.

💡 Why it matters?

• The UAE’s logistics industry is set to grow from AED 129 billion to over AED 200 billion in seven years, enhancing its global trade leadership.

• Cybersecurity initiatives aim to maintain the UAE’s top ranking in the Global Cybersecurity Index, securing national assets and digital infrastructure.

• Talent Strategy 2031 will attract professionals in key industries like tech, renewables, healthcare, and aviation, reinforcing the UAE’s position as a talent magnet.

• The UAE Circular Economy Agenda 2031 is making strides in sustainable supply chains, waste management, and bio-diesel production.

🔜 What’s next?

• Rapid transport transformation: The high-speed rail project will reduce commuting time between Abu Dhabi and Dubai, improving quality of life and economic ties.

• Expanding global partnerships: The UAE ratified 33 international agreements, including tax treaties with Qatar, Kuwait, and Australia, and investment cooperation with Jordan.

• Hosting major global events, such as the UN Crime Prevention Congress and the First International Camel Forum 2025, strengthening the UAE’s international influence.

• The new Bi-Directional Charging Guidelines will support clean energy adoption and improve the country’s electrical grid efficiency.

Leap 2025 in Riyadh Set to Revolutionize Tech Landscape with Global Speakers in Riyadh

LEAP 2025, Saudi Arabia's premier technology event, is set to take place from February 9 to 12, 2025, at the Riyadh Exhibition & Convention Centre in Malham. This fourth edition, themed 'Into New Worlds,' introduces a ticketed format to enhance business networking and investment opportunities.

The event will feature over 1,000 expert speakers, 680+ start-ups, and 1,800+ global tech brands, offering attendees a comprehensive view of the latest technological advancements.

New additions include the 'LEAP Nights' concept, extending activities into the night across Riyadh, and the Tech Arena, where live product demos and interactive engagements will showcase cutting-edge technologies.

Notable speakers include Ken Kutaragi, former Chairman and CEO of Sony Interactive Entertainment; Javier Tebas, President of La Liga; and Connie Chan, General Partner of Andreessen Horowitz.

LEAP 2025 aims to solidify Saudi Arabia's position as a global technology hub, fostering innovation and collaboration across various sectors.

Our Smashi Business team will be on the ground to give you all the news and updates from the event.

Markets

BlackRock Eyes Kuwait Expansion to Strengthen Gulf Presence

📰 What is it about?

• BlackRock Inc., the world’s largest asset manager, is exploring plans to open an office in Kuwait, deepening its ties in the region.

• The firm is in discussions with regulators and could finalize its decision as soon as this month.

• CEO Larry Fink visited Kuwait and met with Emir Sheikh Mishaal Al-Ahmed Al-Sabah and the Crown Prince, signaling strategic interest.

💡 Why it matters?

• Kuwait Investment Authority (KIA), worth $1 trillion, is a major BlackRock shareholder, making the move significant for long-term collaboration.

• BlackRock is expanding aggressively in the Gulf, having already secured approvals for offices in Saudi Arabia (Riyadh) and the UAE (Abu Dhabi).

• Unlike Dubai, Abu Dhabi, and Riyadh, Kuwait has seen fewer global firms set up operations, making BlackRock’s potential move a major development.

🔜 What’s next?

• If approved, BlackRock’s Kuwait office could attract more foreign investment and signal a shift in Kuwait’s global financial positioning.

• The firm will likely continue its regional expansion, tapping into $100 billion+ of assets it already manages in the Middle East.

• More global financial institutions may follow, strengthening Kuwait’s role in the competitive Gulf investment landscape.

Riyadh Air and LIV Golf Sign Multi-Year Partnership Ahead of 2025 Season Launch

📰 What is it about?

• Riyadh Air, Saudi Arabia’s new premium airline, has signed a multi-year sponsorship deal with LIV Golf League.

• The announcement was made at King Khalid International Airport by Riyadh Air CEO Tony Douglas and LIV Golf CEO Scott O’Neil.

• Golf superstars Bryson DeChambeau, Sergio Garcia, Dustin Johnson, Joaquin Niemann, and Jon Rahm attended the event.

💡 Why it matters?

• The deal cements Riyadh Air’s commitment to sports sponsorships, adding to existing partnerships with Atlético de Madrid, Concacaf, and the WTA Finals.

• LIV Golf’s global reach (14 tournaments across Asia, Australia, Europe, and North America) will provide major brand exposure for Riyadh Air.

• Riyadh Air is set to begin operations in 2025, aiming to serve 100+ destinations by 2030, and this deal boosts its global presence.

🔜 What’s next?

• The partnership kicks off this week with the LIV Golf season opener at Riyadh Golf Club.

• Riyadh Air will feature in on-course branding, TV broadcasts, and hospitality events throughout LIV Golf’s international tour.

• The airline teased a special challenge involving the golfers, to be revealed soon.

🔍In other news…

1. Trump orders creation of US sovereign wealth fund, says it could buy TikTok

2. Gold prices soar to AED 10,396.25 ($2,830.49), setting a new all-time high as safe-haven demand surges amid US-China trade tensions.

3. Emirates earmarks $90 billion for fleet expansion by 2032, reports Enterprise.

4. iHeartMedia Teams Up with Qatar’s GCO for Web Summit Qatar 2025.

5. Qatar’s First-Ever Heavy-Duty Electric Truck is Here.

6. Myne closes $2 million pre-seed led by Scene Holding.

The Latest from the Smashi Business Studio

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Here’s to a productive week ahead! 💪

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