Here are some of the important developments across energy, infrastructure, finance, aviation, and innovation ecosystems in some of the Middle Eastern countries, especially Saudi Arabia and the UAE on Jun 17:
In the UAE, ADNOC Drilling appointed Abdulla Ateya Al Messabi as its new CEO, succeeding Abdulrahman Al Seiari, who will retire after 45 years of service but remain an advisor through year-end. The leadership transition comes as ADNOC Drilling continues to play a strategic role in ADNOC’s upstream growth.
Dubai’s real estate ambitions advanced further as Nakheel, under Dubai Holding Real Estate, awarded AED 750 million worth of infrastructure contracts for Palm Jebel Ali. The contracts, granted to DBB Contracting LLC, mark a significant step toward completing key works by Q4 2026.
Also in Dubai, the DMCC Crypto Centre welcomed Bitcoin.com, which is setting up its first MENA office in the emirate. The move underscores Dubai’s expanding position as a global hub for Web3 and blockchain innovation, with over 650 companies now based at the Crypto Centre.
In regional finance, the Arab Coordination Group announced it had disbursed $19.6 billion in 2024 across 90+ countries. The funding supported nearly 650 operations targeting infrastructure, climate action, food security, and global trade.
Meanwhile, Bahrain’s Central Bank reported a 188% oversubscription of its BD 70 million Treasury Bills, reflecting sustained investor confidence. The total outstanding value of Bahrain’s government treasury bills now stands at BD 2.11 billion.
In Saudi Arabia, Riyadh continued its upward trajectory in global innovation, rising 60 ranks to 23rd in Startup Genome’s 2025 Global Startup Ecosystem Report. The leap highlights a maturing ecosystem backed by rising venture capital, infrastructure, and strong state support via Monsha’at.
In aviation, AviLease, the Saudi aircraft lessor, placed an order for up to 77 Airbus aircraft, including A320neo and A350F models. Separately, Riyadh Air announced a deal to purchase 50 Airbus A350-1000 jets, strengthening the Kingdom’s growing commercial aviation sector.
Shipping capabilities are also expanding with Mawani’s launch of the IM2 shipping service at Jeddah Islamic Port, connecting it with ports in India, Egypt, and Türkiye, and enhancing trade flow and operational efficiency.
On the industrial front, the Islamic Development Bank (IsDB) partnered with Türkiye’s Ministry of Industry to promote sustainable organized industrial zones, aligned with Türkiye’s net-zero and development goals.
In Oman, the Ministry of Commerce and other partners signed a series of agreements to empower local talent through industrial training centers, furthering public-private collaboration in workforce development.
Finally, in Lebanon, President Joseph Aoun met with the World Bank’s Regional Director, reaffirming commitment to economic reforms as the country pursues financial recovery through legislative measures and global cooperation.
