Happy Sunday everyone!

Good morning — here’s what you need to know today: U.S. energy giants Baker Hughes, Hunt Energy, and Argent LNG are returning to Syria with a sweeping masterplan as Trump lifts sanctions, aiming to revive the nation’s war-hit energy sector. In Dubai, over 80 new AI projects are in the pipeline, touching everything from traffic flow to genomics-based healthcare. Meanwhile, the UAE is set to roll out a new sugar-content-based tax on beverages by 2026, pushing manufacturers to cut sugar and encouraging healthier choices across the country.

But before that: For quick daily updates, follow us on Instagram, and you can watch our Smashi Business Show live every weekday from 10AM onwards (UAE time). Also, you can join our Whatsapp channel to receive updates from the business world.

Reuters Exclusive: US Energy Firms Return To Syria As Sanctions Lifted, Launching Infrastructure Masterplan

🔹 What Is It About

U.S.-based companies Baker Hughes, Hunt Energy, and Argent LNG are leading the development of a national energy masterplan for Syria, Argent LNG CEO Jonathan Bass confirmed, Reuters reported exclusively. The firms aim to help rebuild the war-torn country’s oil, gas, and power infrastructure, marking the first major U.S. business involvement since President Trump lifted sanctions at the end of June. Initial work will focus on Syrian government-controlled areas west of the Euphrates River.

🔹 Why It Matters

This move signals a dramatic shift in U.S. policy and corporate strategy toward Syria, previously under one of the world’s toughest sanctions regimes. With Syria’s power generation at just 17% of pre-war capacity, the sector urgently requires billions in investment. The U.S. entry also follows recent regional deals, including Qatar’s $7 billion energy agreement, and reflects rising international interest in Syria’s economic rehabilitation post-conflict.

🔹 What’s Next

The firms plan to assess and implement near-term improvements across Syria’s energy value chain—from exploration to electricity generation, including combined-cycle plants. Executives from the companies recently visited Damascus, meeting top Syrian officials despite ongoing security risks. As more sanctions are lifted, investor interest is expected to grow, though continued violence and political uncertainty pose serious risks to future operations and long-term investment.

Binance Launches World’s First Sharia-Compliant Multi-Token Staking

Binance has introduced Sharia Earn — a groundbreaking, Sharia-certified staking product built for the global Muslim community. Developed in partnership with Amanie Advisors, this new platform allows users to earn passive income on BNB, ETH, and SOL while staying fully aligned with Islamic finance principles.

It’s a major step toward financial inclusion, bridging halal investing with cutting-edge blockchain technology. Sharia Earn empowers faith-based investors with a transparent, values-driven way to participate in the crypto revolution. Now available in 30+ countries across the Middle East, South Asia, and North Africa, with more countries set to be added soon! 

Learn more and start staking the halal way.

Markets

Dubai’s AI Future: From Smarter Roads to Genomic Healthcare

🔹 What Is It About

Dubai is ramping up its artificial intelligence (AI) rollout, with more than 80 AI initiatives planned over the next five years, an AGBI report reveals.The city’s Roads and Transport Authority already uses AI to manage traffic signals and aims to cut waiting times by 20%. The broader AI strategy includes smarter government services, recruitment, procurement, and public maintenance tools like the Madinati app, which uses AI to auto-detect issues from uploaded photos.

🔹 Why It Matters

This wave of AI integration is expected to boost Dubai’s economy by AED 235 billion ($64 billion) by 2030, thanks to cost savings and increased efficiency. From hiring civil servants to maintaining city vehicles and routing garbage trucks more efficiently, AI is quietly transforming urban life. With AI tools performing tasks up to 90% faster, residents may soon experience smoother services without even realizing the tech behind it.

🔹 What’s Next

The Dubai Centre for AI plans to train 1,000 government workers on generative AI tools that can create content in multiple languages. Meanwhile, healthcare innovation is on the horizon, with AI-powered genomics expected to deliver personalized treatment plans. As AI expands across sectors, from civil services to medicine, Dubai positions itself as a global model for urban tech-driven transformation.

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UAE Rolls Out Sugar-Linked Beverage Tax To Curb Unhealthy Consumption

🔹 What Is It About

The UAE is overhauling its sugar-sweetened beverage (SSB) tax by shifting from a flat-rate to a tiered, sugar-content-based excise system starting early 2026. The more sugar a drink contains per 100ml, the higher the tax per liter. The Ministry of Finance and Federal Tax Authority aim to incentivize manufacturers to cut sugar and guide consumers toward healthier choices.

🔹 Why It Matters

This tax reform is part of a national public health strategy to reduce sugar intake and prevent chronic diseases. Developed with the Ministry of Health, the new model aligns taxation with sugar levels, encouraging reformulation and supporting healthier lifestyles. It also reflects the UAE’s commitment to sustainable development and data-driven, health-conscious fiscal policy.

🔹 What’s Next

With ample lead time, businesses must adjust systems, reformulate products, and prepare for compliance. Awareness campaigns will educate stakeholders, while the move may also influence regional GCC tax harmonization, reinforcing the UAE’s role as a leader in progressive health and fiscal policy.

👨‍💻From Smashi Business’ Desk

• Dreamers: From arriving in Dubai with just a suitcase to leading the Gulf’s first female-founded private equity firm, Huda Al-Lawati is a true trailblazer

• Saudi Tech CEO Goes Viral After Calling Himself an “Idiot” Over Food Delivery Choice

• Smashi Business Exclusive: House of Pops Eyes European Expansion

• From inventing Dubai Chocolate to sharing his journey from Burj Al Arab to TEDx, Chef Noel Catiz joined the Lovin Dubai Show to talk desserts, ideas, and his deep love for Kanafa Nabulsi

🔍In other news…

• BlackRock-led consortium to invest $10bn in Aramco’s Jafurah gas project infrastructure

• Egypt Launches Campaign To Attract 1M Arab Tourists By 2026

• Jordan’s tourism revenue hits $3.7bn in first half of 2025 

• How Trump’s 200% pharma tariffs could benefit the Middle East

• Workplace saving scheme slow to catch on in the UAE

🏦Crypto Corner

• Crypto Market Value Tops $4 Trillion as Stablecoin Bill Passes

• Ripple Partners Ctrl Alt to Tokenize Dubai Real Estate on XRP Ledger

• You can soon use crypto when paying at Dubai Duty Free and when flying Emirates in new landmark deal

• UAE authority clarifies no Golden Visa issuance for crypto investors

• Dubai Land Department teams up with Crypto.com on digital real estate investment plan

• Bitcoin Miner Tied to Trump Sons Plans Dubai Crypto Trading Team

Follow Smashi Crypto to find out what’s news in the world of digital assets.

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