Farewell, summer

It’s the official end of the summer: Schools are back in session in the UAE (watch out for busier-than-usual traffic) and Egypt’s North Coast is quickly emptying as August comes to a close. Students in Saudi Arabia — among others in the region — already bid farewell to the summer earlier in the month.

The summer wind-down hasn’t done much to sway the flow of news in our neck of the woods and beyond. US forces targeted two Iranian rocket launchers on Larak Island in the Strait of Hormuz, as we note in this morning’s War Watch. Meanwhile, we’re keeping a close eye on the regional events calendar, as major events like Leap in Saudi Arabia press ahead, giving reason to hope for a business-as-usual fall window.

Across the pond: Ins. broker and consulting firm Aon is closing in on an agreement to acquire KKR-owned ins. broker USI for around USD 17 bn, expanding Aon's ability to serve midsize businesses. The move — the latest in a spate of big exits for KKR — is projected to be accretive to earnings per share starting in 2028. –Salma