Happy Saturday everyone!

Good morning! Here’s what you need to know in business across the region today. The UAE and EU have officially agreed to launch free trade talks, aiming to boost cooperation in key sectors like energy, AI, and healthcare. Meanwhile, Starlink continues its rapid expansion in the Middle East, with Jordan the latest country to go live—joining Qatar, Oman, and Yemen. And in big tech news, Apple is on a hiring spree across the UAE and Saudi Arabia as it ramps up retail operations and prepares for its first online store launch in the Kingdom.

Let’s dive in!

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“Trade Must Stay Open & Free”: EU And UAE Agree To Launch Free Trade Talks

📰 What is it about?

• The European Union and the United Arab Emirates have agreed to initiate negotiations for a free trade agreement (FTA), as announced in a statement from both parties on Thursday.

• The decision follows a cordial phone call between European Commission President Ursula von der Leyen and UAE President Sheikh Mohamed bin Zayed Al Nahyan.

• Talks will focus on trade in goods, services, investment, and strategic sectors, including renewable energy, green hydrogen, and critical raw materials.

• Dr. Thani Al Zeyoudi, UAE Federal Minister for Foreign Trade, emphasized the importance of this agreement: "Trade must stay open, free and freely accessible. That is a view shared by both the UAE and the EU – and it is the reason we have come together to launch negotiations towards a Comprehensive Economic Partnership Agreement (CEPA) between us."

💡 Why it matters?

• The UAE is the EU's second-largest trading partner, accounting for 8.3% of the EU's non-oil trade.

• The UAE is also the EU's largest export destination and investment partner in the MENA region.

• Dr. Zeyoudi pointed out the significant trade relationship, stating: "The EU is the UAE’s second-largest trading partner globally, accounting for 8.3% of UAE’s total non-oil trade. The UAE is also the EU’s largest export destination and investment partner in the MENA region."

• In 2024, the two regions shared non-oil trade of $67.6 billion, marking a 3.6% year-on-year increase—more than double the global trade growth average.

• The UAE-EU CEPA will reduce tariffs, remove trade barriers, and create a platform for investment and joint ventures, aligning both economies. The agreement will also focus on critical priorities such as energy transition, food security, advanced technology, and healthcare.

• Dr. Zeyoudi also emphasized the broader impact: "At this pivotal moment for the global trading system, nations that recognize the connection between trade and growth must find ways to keep goods, services, and capital flowing."

🔜 What’s next?

• Negotiations are set to begin with the goal of reaching a Comprehensive Economic Partnership Agreement (CEPA).

• This initiative follows UAE's ongoing push for direct EU engagement separate from the broader Gulf Cooperation Council (GCC).

• The agreement is expected to support the economic diversification and growth strategies of both the UAE and the EU, with key sectors being strategically targeted for development.

• Dr. Zeyoudi concluded: "The UAE and EU's pursuit of a CEPA demonstrates our joint commitment to achieving this goal."

ODEUM – A Cutting-Edge Content Studio for All Your Production Needs

📰 What is it about?

• Odeum, the content studio built for modern media consumption, partnering with brands to deliver tailored content services while also creating original productions under the Augustus Media network.

💡 Why Choose ODEUM?

At ODEUM, we provide end-to-end media solutions to elevate your brand across multiple platforms.

• Video Production: From AI-powered videos to immersive live streaming and CGI storytelling.

• Animation Services: Dynamic 2D & 3D animation, motion graphics, and visually striking CGI. 

• Audio Production: Podcasting, sound design, and professional voiceovers that elevate content with immersive audio experiences.

• Original Content Development: Conceptualizing and producing shows, short films, and series that engage and inspire.

• Studio Rental: Fully equipped production spaces designed for seamless content creation, offering state-of-the-art filming, podcasting, and photography setups to bring creative visions to life.

🔜 What’s next?

• Have a project in mind? Let's make it happen!

• Book a studio or discuss your next big idea with us today.

Follow ODEUM on LinkedIn, Instagram, Facebook, and X.

Markets

Starlink Expands Connectivity Across the Middle East

📰 What is it about?

• Starlink, the satellite internet service operated by SpaceX, is rapidly expanding its presence across the Middle East, now offering high-speed internet in Jordan. This makes Jordan the latest addition to countries like Oman, Qatar, and Yemen, where the service is already available.

• Qatar Airways has also rolled out Starlink’s connectivity on its Boeing 777 fleet and is set to extend this upgrade to its Airbus A350 fleet this month, providing passengers with ultra-fast, complimentary WiFi at 35,000 feet. With over 6,000 flights completed, Qatar Airways is leading the airline industry in offering this cutting-edge connectivity.

💡 Why it matters?

• Starlink’s satellite internet, powered by low-Earth orbit (LEO) satellites, is revolutionizing internet access in remote areas and countries with limited infrastructure. The ability to connect without relying on mobile towers or high-speed data lines is particularly beneficial for areas in conflict or those lacking traditional broadband access.

• In the Middle East, the activation of Starlink in Jordan and the regulatory progress in Oman, Kuwait, and Bahrain highlights the growing demand for high-speed, reliable internet across the region. Starlink’s service is poised to expand further with the approval for maritime satellite internet services in the UAE.

• The satellite broadband market, projected to be worth $400 billion by 2040, positions Starlink at the forefront of a rapidly growing industry. While Amazon's Project Kuiper aims to challenge Starlink's dominance, the latter’s early market entry and ongoing satellite launches give it a significant lead in this space.

🔜 What’s next?

• Starlink is expected to continue its expansion in the Middle East, with services coming soon to Kuwait and Bahrain later this year. The company is also awaiting regulatory approvals to launch in Saudi Arabia and the UAE.

• Qatar Airways will continue to lead the aviation industry by expanding Starlink’s high-speed internet across more of its fleet, enhancing the in-flight experience for passengers.

• As Starlink’s constellation of LEO satellites grows—currently consisting of over 7,000 satellites—its global service reach will increase, making high-speed internet accessible to even more regions in need. The company’s continued dominance in the satellite broadband sector is expected to face more competition from Amazon's Project Kuiper, setting the stage for exciting developments in global connectivity.

Apple Hiring Now: Multiple Job Openings in UAE and Saudi Arabia

📰 What is it about?

• Apple has launched a major hiring initiative in Saudi Arabia and the UAE, with multiple job openings across various roles. The recruitment comes as part of Apple's expansion in the region, particularly in Saudi Arabia, where they are preparing for the launch of their online store in the summer of 2025, followed by flagship Apple Store openings in 2026.

• In Saudi Arabia, Apple is recruiting for management, technical, sales, operations, marketing, and legal roles. Meanwhile, the UAE presents opportunities in business operations, specialist roles, technical support, store management at Dubai Mall, and leadership positions for their online business in the Middle East.

💡 Why it matters?

• Apple’s hiring spree is part of the tech giant’s broader regional strategy to invest in and expand its retail and online operations. The launch of its online store in Saudi Arabia and the opening of flagship stores will create more job opportunities and increase the company’s presence in the Gulf.

• Apple’s continued investment in the UAE, including plans for a fifth retail store in Al Ain, underscores the company's long-term commitment to the region. CEO Tim Cook emphasized the importance of the UAE’s creative and entrepreneurial community, stating, "We’re excited to keep growing our teams, supporting local businesses, and strengthening our ties with our customers here."

• The move comes amid Apple's ongoing efforts to bring cutting-edge technology and job creation to both countries, with a focus on supporting local businesses, artists, entrepreneurs, and small business owners.

🔜 What’s next?

• With Apple's growing presence in the region, these job openings are expected to be highly competitive, offering career opportunities within a globally recognized brand.

• Apple plans to continue expanding its operations in Saudi Arabia and the UAE, supporting local economies and fostering innovation in key sectors such as technology, retail, and business development.

• In response to global trade challenges, including tariffs affecting US-based manufacturing, Apple’s recruitment efforts also reflect its broader adaptation strategy to sustain growth in the Middle East while navigating external economic pressures.

🔍In other news…

• Pakistan-UAE trade surges past $10 billion as remittances near $7 billion: Ambassador Faisal Tirmizi.

• China speaks with Saudi Arabia, South Africa about response to US tariffs.

• Walid Mourad, $216B-AUM Lazard’s Top Middle East Fund Manager, Set to Leave Firm.

• Gold surges past $3,200 as economic concerns reignite record rally.

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