{"id":115661,"date":"2026-06-10T00:00:00","date_gmt":"2026-06-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/menaplus\/?post_type=issue&#038;p=115661"},"modified":"2026-06-10T06:41:38","modified_gmt":"2026-06-10T06:41:38","slug":"changing-playbooks","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/menaplus\/issues\/changing-playbooks\/","title":{"rendered":"Changing playbooks"},"content":{"rendered":"<section id=\"115663\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"115663\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">OPENING NOTE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/two-of-three-big-regional-ipos-in-the-pipeline-have-now-pulled-the-plug\/\">\r\n                            All volatility, all the time\u2026                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/two-of-three-big-regional-ipos-in-the-pipeline-have-now-pulled-the-plug\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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(Maybe Morocco is the exception? They seem _relatively_ happy over there\u2026?)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two of the three big regional IPOs on which bankers had been counting have now pulled <\/strong><strong>the <\/strong><strong>plug<\/strong> after Saudi contractor Mutlaq Al Ghowairi yanked its USD 800 mn Tadawul offering. It did so shortly after our Egypt desk reported that <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/08\/banque-du-caires-ipo-has-been-delayed-again-with-roadshows-pushed-to-september\/\" style=\"\">Banque du Caire had decided to make it official and push to the fall window<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have the rundown, plus a look at how the <strong>Qatar Investment Authority<\/strong>\u2019s strategy is changing as the war grinds on, in this morning\u2019s news well, below. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No regional IPOS will mean just a little bit more liquidity from our part of the world <\/strong><strong>chasing SpaceX <\/strong><strong>shares. <\/strong>The world\u2019s largest IPO is <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2026\/06\/09\/spacex-ipo-explained-stock-price-date.html\" style=\"\">priced at USD 135 per share<\/a>, with allocation set for Thursday and the start of trading to take place Friday. Elon is counting on retail investors all over the planet to <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/musk-spacex-ipo-retail-traders-a13e9030\" style=\"\">make him the world\u2019s first trillionaire<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Watch the volatility: <\/strong>BNP Paribas thinks investors around the world may <a target=\"_blank\" href=\"https:\/\/fortune.com\/2026\/06\/07\/spacex-ipo-selling-price-dislocations-spcx-stock-passive-index-flows-retail-investors\/\" style=\"\">liquidate as much<\/a><a target=\"_blank\" href=\"https:\/\/fortune.com\/2026\/06\/07\/spacex-ipo-selling-price-dislocations-spcx-stock-passive-index-flows-retail-investors\/\" style=\"\">USD 50 bn in other stocks<\/a> to snap up positions in SpaceX \u2014 but CoinDesk says it has so far found no signs folks are <a target=\"_blank\" href=\"https:\/\/www.coindesk.com\/markets\/2026\/06\/06\/are-retail-traders-selling-their-bitcoin-to-buy-the-spacex-ipo\" style=\"\">selling-down their crypto holdings<\/a> to take a piece of Elon. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Today\u2019s point-counterpoint: <\/strong>With no sign that the war in the Gulf is about to end, our new reality is about positioning ourselves for the eventual (\ud83e\udd32) upswing while absorbing short-term pain.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>POINT- <\/strong>Private credit heavyweight <strong>Blue Owl<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/transactional\/blue-owl-fund-facing-redemptions-raises-500-million-bond-sale-bloomberg-news-2026-06-08\/\" style=\"\">facing redemptions amid stress<\/a> in its core market, opened its regional HQ in Abu Dhabi, it said in a <a target=\"_blank\" href=\"https:\/\/www.adgm.com\/media\/announcements\/blue-owl-strengthens-global-presence-with-opening-of-abu-dhabi-office\" style=\"\">statement<\/a>. By our count, it follows at least 15 other heavyweights including <strong>Bain<\/strong>, <strong>Barings<\/strong>, and <strong>Capital Group<\/strong> into ADGM and DIFC since the war began. Blue Owl already has deep roots in the UAE, including with Lunate and Mubadala. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>COUNTERPOINT- One in four UAE employers plans to cut headcount in the third quarter<\/strong> (up from just 7% three months ago) and net hiring sentiment has collapsed 43 points q-o-q to +17%, according to ManpowerGroup\u2019s latest <a target=\"_blank\" href=\"https:\/\/21832526.fs1.hubspotusercontent-na2.net\/hubfs\/21832526\/MEOS\/UAE_EN_MEOS_Report_3Q26.pdf\" style=\"\">Employment Outlook Survey (pdf)<\/a> of UAE employers. (The UAE is the only Arab economy in MENA+ covered by ManpowerGroup.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The upside:<\/strong> Finance and healthcare companies still expect to hire, the survey found. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FINALLY- CTOs aren\u2019t the only ones who will want to read our sitdown on <\/strong><strong>cybersecurity <\/strong>with Mashreq\u2019s information security lead. CEOs and leaders of any business that relies on digital infrastructure will want to give it a think. \u2013Patrick<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/ipo-watch\/\">IPO WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/opening-note\/\">Opening Note<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"115664\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"115664\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">THE LEDE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/is-the-war-reshaping-qatar-investment-authoritys-strategy\/\">\r\n                            Changing the playbook                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/is-the-war-reshaping-qatar-investment-authoritys-strategy\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The war in the Gulf upended the math by taking away the LNG revenue tailwinds Qatar was expecting to finance the playbook. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How bad was the hit?<\/strong> Iranian strikes <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/iran-attack-damage-wipes-out-17-qatars-lng-capacity-three-five-years-qatarenergy-2026-03-19\/\" style=\"\">have taken out<\/a> around 17% of Qatar\u2019s LNG export capacity, cutting annual revenue by an estimated USD 20 bn. Repairing the damage to Qatar\u2019s LNG facilities and restoring its exports to pre-war levels could take up to five years, <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/03\/25\/governments-across-mena-are-looking-for-energy-alternatives-the-disruption-bites\/\" style=\"\">industry estimates suggest<\/a>. The IMF now expects Qatar\u2019s GDP to contract by around 6.0% this year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What does this all mean for the QIA\u2019s evolving investment strategy and risk management <\/strong><strong>moving forward?<\/strong> We spoke with Azad Zangana, head of GCC macroeconomic analysis at Oxford Economics, to map out the war\u2019s shocks and how the sovereign wealth fund could adapt. Edited excerpts below:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM: How serious is the short-term economic disruption, and what does it <\/strong><strong>mean for QIA\u2019s strategy?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Azad Zangana:<\/strong> The current events have essentially changed the risk profile for the QIA. Prior to the war, the general assumption was always: Here\u2019s a portion that goes into illiquid assets \u2014 we might need it in 50 years, or in 100 years. Now, the answer is, actually, we might need this in a year or two.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The need to diversify has gone up, but so has the need for liquid capital. Going forward, they will hold more liquid assets. That means going into public markets rather than buying another building or a shopping center. This will be the near-term change.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In the near term, there's going to be a pause to think about where capital is most required at this point in time. We're generally assuming that shipping fully resumes by the third quarter, so we're talking about four or five months worth of lost revenues. It is not enough to change long-term plans. It might lead to some short-term pain, but it\u2019s much more about shoring things up in the short term and making sure that there\u2019s enough capital flowing, because things like day-to-day government spending, including salaries, would typically be paid out of revenues coming in. If those revenues are stopped \u2014 which they have, as far as we can tell \u2014 then that needs to be paid for in a different way. One avenue is the repatriation of some of this capital. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">I don\u2019t think there\u2019s going to be a sudden big change in strategy. What might shift, however, is that we could see a prioritization of holding onto more local, liquid capital in case of future emergencies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The real worry emerges when we\u2019re three or four months down the line and shipping is still halted \u2014 that\u2019s a different story and is much more serious. You\u2019ll start seeing greater liquidation of private holdings and private assets and then repatriation of that capital. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">I don\u2019t think we\u2019re there yet. There have likely been some sales of liquid assets in public markets like equities and bonds, rather than private assets, to shoulder the smallest liquidation loss. The fund may have started some contingency planning to consider questions like: If we had to sell something that is very illiquid, what\u2019s the best thing to sell? Can we start the process now for the end of the year? <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM: How could a prolonged disruption in LNG revenues affect the QIA\u2019s role in <\/strong><strong>stabilizing the economy? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AZ:<\/strong> Qatar is probably the most negatively impacted country in the GCC at this point in time. Bahrain and Kuwait are also unable to export, but they\u2019ve been able to store some of the oil they produce, which can then be exported later. There\u2019s a degree to which they can catch up. The problem with Qatar is that storing LNG is very expensive, so that\u2019s not happening \u2014 they\u2019ve just shut down production altogether and there is a genuine period of lost output and revenues.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Banks are vulnerable and are concerned with their exposure \u2014 who they\u2019ve lent money to and those borrowers\u2019 ability to repay, all of which depends on where the borrowers\u2019 revenues are coming from. If they\u2019ve lent to property developers, for example, there\u2019s a degree of certainty these developers will complete their projects, then sell or lease the projects so they can make an earning and repay the loans. When it comes to government lending, they\u2019re going to be quite dependent on the LNG revenues to be able to disperse that capital and repay those loans as well. So there is definitely exposure, and the longer this exists, the greater the potential for losses to occur.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In any case, Qatar holds a tremendous amount of overseas reserves that it can repatriate and probably cover the banking system for well over a year if it needed to. The question will be whether they want to use these reserves or if there is a better way to protect the state\u2019s capital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM: Could the heightened security risk now accelerate the QIA\u2019s strategy away <\/strong><strong>from trophy acquisitions and toward more liquid or strategic investments?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AZ:<\/strong> We\u2019ve seen a reduction in the amount of investment going into sports and sporting activities, especially overseas. That could certainly be an area that suffers, because although it generates good advertising for Qatar, the question is what\u2019s the real value of that versus working in a sector to generate tangible returns and productivity gains as well over a long time? A similar reconsideration could go into some property holdings in the West \u2014 they\u2019ll need to think about the ROI now and in the future, and whether there are better places to invest or if it\u2019s a matter of changing how much property they hold. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Travel and tourism has been an important area, and I think that will continue to be the case. Even with the current shock to the sector, the long-term outlook is incredibly strong. It\u2019s important for Qatar to keep competing and building out that sector. Investment in IT and artificial intelligence are also going to be very important as a global trend.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Renewable energy is going to be very important too. Combining that with the other investments that are going on is also going to be key. But there\u2019s got to be more than that. They can\u2019t just rely on big trends, because everybody else is doing the same thing. They have to think about other areas in terms of manufacturing that they can go into.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">One thing that this crisis has really exposed is the import dependence of the region to the rest of the world. Food inflation in Qatar has absolutely shot up in the last few months because not enough agricultural produce is produced within the region that\u2019s easy to import. They have to look at food security and see if there\u2019s a way that they can produce more locally, even if it's more expensive.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Then there are strategic investments, which are focused on not just making as much money as possible, but thinking about how Qatar can benefit from having exposure to these areas. Investing in AI in the US enables Qatar to learn about AI from the West and bring some of that technology home. That direction of strategic investment will continue. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/qatar-investment-authority\/\">Qatar Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/swfs\/\">SWFs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/the-lede\/\">The Lede<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"115666\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"115666\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">MARKETS + DEALS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/two-of-three-big-ipos-in-the-mena-pipeline-are-now-postponed-reflecting-the-overhang-from-the-us-israel-war-on-iran\/\">\r\n                            Pulling the plug                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/two-of-three-big-ipos-in-the-mena-pipeline-are-now-postponed-reflecting-the-overhang-from-the-us-israel-war-on-iran\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Real estate player <strong>Arabian Dyar<\/strong>, eyeing a SAR 16 bn valuation, is <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/capital-markets\/equities\/arabian-dyar-shelves-tadawul-ipo-plans-for-now-amid-weak-market-sentiment-fg9p0g5d\" style=\"\">pulling back, too<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The strange part: The books were covered.<\/strong> Shareholders got cold feet on post-listing performance after last week\u2019s strikes on Kuwait and Bahrain, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-09\/saudi-arabia-contractor-mgc-said-to-postpone-799-million-riyadh-ipo\" style=\"\">Bloomberg reports<\/a>, with some investors scaling back orders as the ceasefire wobbled. MGC was meant to be the Gulf\u2019s first major listing since the war began, the bellwether for infrastructure-sector confidence, and the first test of Saudi\u2019s new guidance encouraging issuers to hand retail investors up to 30% of an offering.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> Newly listed names are holding up: IT services firm Dar Albalad <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/21\/dar-albalad-surges-on-tadawul-debut\/\" style=\"\">climbed 28% on<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/21\/dar-albalad-surges-on-tadawul-debut\/\" style=\"\">its Tadawul debut<\/a> last month and still trades roughly 41% above its IPO price, and Tadawul stayed in the green through <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/02\/tasis-march-rise-could-be-masking-weak-investor-appetite\/\" style=\"\">the thick of the war<\/a>. \u201cOnce visibility improves, particularly on oil prices and regional stability, expect issuers to come back, possibly with repriced expectations,\u201d Riyadh-based investment banker Mustafa Fahim told EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What to watch next: <\/strong>Will Oman India Fertilizer Co. <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/03\/omans-msx-will-get-a-much-needed-shot-in-the-arm-if-the-ipo-of-oman-india-fertilizer-co-is-a-hit\/\" style=\"\">push ahead with plans to list in Muscat<\/a> ? The company is a rich dividend play with a captive market in India. Egypt\u2019s Banque du Caire \u2014 the third big regional IPO in the pipeline \u2014 is also out of the market for now, with our Egypt desk reporting the bank <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/07\/banque-du-caire-ipo-pushed-back-to-year-end\/\" style=\"\">has push<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/07\/banque-du-caire-ipo-pushed-back-to-year-end\/\" style=\"\">ed to the fall window<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi quick-commerce player Ninja is sizing up Delivery Hero\u2019s Middle East portfolio<\/strong>, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f66cd84b-eabf-4c3e-9f18-d480054b3e3a?syn-25a6b1a6=1\" style=\"\">FT reports<\/a>. Riyadh-based <strong>Ninja<\/strong> would start with <strong>HungerStation<\/strong>, <strong>Delivery Hero<\/strong>\u2018s Saudi unit, which would be easier to integrate and face fewer regulatory hurdles, and could partner with another buyer to make an offer for parts of Dubai-listed <strong>Talabat<\/strong>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>The dark-store grocery player <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/en\/news\/story\/64f3a897-9db3-43f2-9d64-f81a460049c3\/ninja-hits-unicorn-status-with-usd-250-mn-raise\" style=\"\">hit a USD 1.5 bn valuation last July<\/a> and <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/10\/this-morning-ninja-lines-up-banks-for-ipo-keeps-options-open\/\" style=\"\">has<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/10\/this-morning-ninja-lines-up-banks-for-ipo-keeps-options-open\/\" style=\"\">banks lined up<\/a> for a potential c. USD 1 bn Tadawul listing of its own \u2014 and two of its founders know the target well, one having helped establish HungerStation, another being a Delivery Hero and Gorillas alum.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big global infra investors still <\/strong><strong>have appetite<\/strong><strong> for Kuwait\u2019s USD 7.5 bn pipeline deal.<\/strong> BlackRock\u2019s <strong>Global Infrastructure Partners<\/strong>, <strong>Brookfield<\/strong>, <strong>EIG<\/strong>, <strong>Apollo<\/strong>, and <strong>KKR<\/strong> are through to the next round of bidding for a stake in KPC\u2019s crude pipeline network, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-09\/brookfield-gip-defy-war-to-advance-7-5-billion-kuwait-deal\" style=\"\">Bloomberg reports<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: <\/strong>Aramco is lining up divestments <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/is-aramco-on-a-usd-35-bn-privatization-push\/\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/is-aramco-on-a-usd-35-bn-privatization-push\/\" style=\"\">worth as much as USD 35 bn<\/a> across energy facilities and real estate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who doesn\u2019t like some fried chicken and a Timmy\u2019s? <\/strong>UAE SWF Mubadala has hired advisers to prepare a bid for Restaurant Brands Europe \u2014 the Burger King, Popeyes, and Tim Hortons operator across Spain and Portugal \u2014 Spanish daily <a target=\"_blank\" href=\"https:\/\/www.expansion.com\/empresas\/2026\/06\/09\/6a271781e5fdea60688b4586.html\" style=\"\">Expansi\u00f3n reports<\/a>. The business could fetch EUR 2-3 bn including debt. Abu Dhabi isn\u2019t alone: Meritage and Apollo are also said to be circling.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cairo headquartered fintech giant MNT-Halan hit a USD 1.4 bn valuation on the first close <\/strong><strong>of a strategic round led by Al Ahly Capital<\/strong>, the National Bank of Egypt\u2019s USD 2.5 bn investment arm, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/508.pdf\" style=\"\">company statement (pdf)<\/a>. The size and stake weren\u2019t disclosed, and a second close is in the works.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>MNT-Halan has worked with 30-plus banks, but this is the first time a commercial lender has taken equity \u2014 and it lands right after the CBE tightened how banks fund non-bank lenders. MNT-Halan has spent the past two years turning itself from an Egyptian upstart into a multi-market power player \u2014 buying <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/20\/mnt-halan-snaps-up-struggling-pakistani-microfinance-bank\/\" style=\"\">Advans Pakistan Microfinance Bank<\/a> and Turkey\u2019s <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/28\/fintech-leader-mnt-halan-expands-into-turkey-with-acquisition-of-tam-finans\/\" style=\"\">Tam Finans<\/a> in 2024 and launching Halan Advance in the UAE. The new money is earmarked for Egyptian SMEs and a new push in the the Gulf.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai Islamic Bank priced a USD 1 bn perpetual non-call six-year AT1 sukuk yesterday<\/strong>, drawing a book north of USD 1.85 bn, per <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/capital-markets\/bonds\/dubai-islamic-bank-prices-1bln-at1-pnc-6-year-sukuk-ei3kuem8\" style=\"\">Zawya<\/a> \u2014 a day after <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/economy\/islamic-economy\/dubai-islamic-bank-mandates-usd-at1-pnc-6-year-sukuk-r3aot133\" style=\"\">mandating the deal<\/a>. The Mudaraba paper will list on Euronext Dublin and Nasdaq Dubai, with eleven joint leads on the transaction including our friends at HSBC and KFH Capital. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DIB is the fifth Gulf bank into the AT1 pool since the war began<\/strong>, by our math, following <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/04\/30\/enbd-reopens-at1-market\/\" style=\"\">Emirates NBD<\/a> (USD 750 mn), <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/04\/saudi-sukuk-market-is-waking-up-from-war-driven-slumber\/\" style=\"\">Saudi Investment Bank<\/a> (SAR 1.85 bn), <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/31\/alinma-closes-twin-tier-1-issuances-as-corporate-issuers-move-in\/\" style=\"\">Alinma Bank<\/a> (twin SAR and USD issuances), and <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/capital-markets\/bonds\/oman-arab-bank-raises-400mln-from-at1-pnc-55-year-capital-securities-wfjfqjsz\" style=\"\">Oman Arab Bank<\/a> (USD 400 mn). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IMF isn\u2019t sure it likes FAB\u2019s USD 5 bn total return swap with Nigeria<\/strong>, warning in an Article IV consultation that the structure is opaque and <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/news\/articles\/2026\/06\/09\/pr26190-nigeria-imf-executive-board-concludes-2026-article-iv-consultation-with-nigeria\" style=\"\">warning<\/a> that \u201chigh collateral and possible margin calls introduce additional fiscal risks and could give rise to political constraints on monetary or exchange-rate policy.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Also worth knowing this morning<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Octo Management Consultancies<\/strong>, the UAE alternative investment manager, is partnering with Bahrain\u2019s <strong>GFH<\/strong> on a USD 300 mn logistics and industrial real estate platform spanning the UAE and Saudi, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/gfh-signs-mou-with-octo-management-to-develop-300mln-logistics-and-industrial-platform-across-saudi-arabia-and-the-uae-ix744tqt\" style=\"\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BP <\/strong>is folding five Egyptian gas concessions into its joint venture with <strong>Adnoc <\/strong>after getting approval from the regulator. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The <strong>Royal Commission for Makkah City and Holy Sites<\/strong> awarded SAR 13.3 bn of <a target=\"_blank\" href=\"https:\/\/x.com\/RCMC_KSA\/status\/2061130426417074683?s=20\" style=\"\">redevelopment projects across six sites<\/a>, each structured through closed-ended real estate funds, with developers and fund managers financing and delivering work the state budget used to carry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Julphar<\/strong>, the Ras Al Khaimah-based, ADX-listed drugmaker, has completed the sale of its Health First Pharmacy chain in the UAE to <strong>Albatha Group<\/strong>, the family-owned Emirati conglomerate whose 25-plus companies span automotive, healthcare, engineering, FMCG, and real estate, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/468.pdf\" style=\"\">press release (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alcazar Energy<\/strong>, the UAE-based renewables investor, has signed a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0ndwdATqYDoLqLspkyHhHknCGvW1PaHAG734mESoPE2vjyyGJpWF8N1xeM6yWrHR3l\" style=\"\">USD 420 mn agreement<\/a> to operate, maintain, and upgrade Egypt\u2019s 580 MW <strong>Gabal El Zeit<\/strong> wind farm.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kuwait<\/strong> <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/135634\/%D8%A7%D9%84%D9%83%D9%88%D9%8A%D8%AA-%D8%AA%D8%AC%D8%AF%D8%AF-%D9%88%D8%AF%D9%8A%D8%B9%D8%A9-%D8%A8%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D9%8A-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%84%D8%AF%D9%89-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A\/\" style=\"\">rolled over its USD 2 bn deposit<\/a> at the <strong>Central Bank of Egypt<\/strong> for another year after it matured in April, as Egypt\u2019s reserves extend a record streak to USD 53.13 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adnoc<\/strong> is weighing Canadian upstream and LNG investments through its international arm <strong>XRG<\/strong>, Upstream CEO Musabbeh Al Kaabi told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/adnoc-eyeing-canada-upstream-lng-opportunities-via-xrg-arm-executive-says-2026-06-09\/\" style=\"\">R<\/a><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/adnoc-eyeing-canada-upstream-lng-opportunities-via-xrg-arm-executive-says-2026-06-09\/\" style=\"\">euters<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> Market Snapshot<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadawul<\/strong> 1.3% \u2022 <strong>ADX<\/strong> 0.8% \u2022 <strong>DFM<\/strong> 0.9% \u2022 <strong>EGX30<\/strong> 1.0%<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Brent USD 91.88 \/ bbl \u2022 Gold USD 4,224 \/ oz \u2022 USD \/ SAR 3.75 \u2022 USD \/ EGP 51.72<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/ipo-watch\/\">IPO WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                       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<div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">TECH + INNOVATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/why-cyber-resilience-is-now-a-non-negotiable-fixed-cost-for-the-banking-sector-in-mena-2\/\">\r\n                            Mr. Robot\u2019s nightmare                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/638.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"638.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/638.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/638.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-115668\" class=\"content-area-description single-story post-115668 post type-post status-publish format-standard has-post-thumbnail hentry category-tech-innovation tag-ai tag-banking tag-enterpriseam tag-tech tag-tech-innovation tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Resilience is a newly critical fixed cost in banking \u2014 and not every bank will be able to pay <\/strong><strong>it.<\/strong> That\u2019s the blunt assessment of Mashreq Group Chief Information Security Officer Olivier Busolini, whose bank responded to March\u2019s attacks by re-architecting for a scenario the Gulf\u2019s risk models never priced in: The UAE itself going dark.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The digital-first bank is re-architecting its cloud to fail over to regions outside the Gulf<\/strong>, treating geographic redundancy as a core control rather than a nice-to-have \u2014 and, pending regulatory approval, preparing to hold backup copies of critical data in Europe and Asia. The lesson of March, Busolini says, is that same-region redundancy protects you from a data center failure, not from a war.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>When we mapped last month <\/strong><strong><a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/01\/how-geopolitical-volatility-and-ai-are-reshaping-regional-cybersecurity\/\" target=\"_blank\" rel=\"noopener\">how geopolitical volatility and AI are reshaping regional<\/a><\/strong><strong><a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/01\/how-geopolitical-volatility-and-ai-are-reshaping-regional-cybersecurity\/\" target=\"_blank\" rel=\"noopener\">cybersecurity<\/a><\/strong>, we argued that the convergence of physical conflict and digital attacks was breaking the old corporate risk models. Mashreq\u2019s playbook shows what replacing them looks like in practice.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Among the key takeaways<\/strong>, Busolini walks us through:<\/p>\n<ul>\n<li>How the definition of resilience has shifted from \u201ccan we recover?\u201d to \u201ccan we continue operating?\u201d<\/li>\n<li>How the bank is looking for regulatory approval to move key backups outside our region;<\/li>\n<li>Why its expansions in Egypt and Pakistan are built as sealed, digitally sovereign compartments to hedge against the possibility of a breach in one market cascading to others;<\/li>\n<li>What a \u201cminimum viable bank\u201d costs to keep standing<\/li>\n<li>What the cost of additional resilience could mean to smaller lenders;<\/li>\n<li>And the three ways he convinces other execs and boards to think through wartime investment in capex on cybersecurity.<\/li>\n<\/ul>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>EnterpriseAM: Iranian strikes took down data centers in the UAE and Bahrain, at least <\/strong><strong>two of which have never recovered. How did that change how you think about resilience and being cloud-first?<\/strong><\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Olivier Busolini: The events of March did not reverse Mashreq\u2019s cloud\u2011first strategy, but <\/strong><strong>they materially refined how cloud resilience is defined and engineered<\/strong>. Our internal decisions shifted away from assuming that same\u2011region redundancy provides sufficient resilience during geopolitical escalation. Same-region redundancy protects against data\u2011center failures, not regional or geopolitical outages. As a result, the strategic response has focused on re\u2011architecting for geographic\u2011independent failover.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Core banking and <\/strong><strong>ledger platforms<\/strong><strong> remain on hardened, regulator-approved on\u2011premise <\/strong><strong>environments<\/strong>, consistent with existing regulatory and operational models, as reflected in Mashreq\u2019s resilience plans. At the same time, we\u2019re redesigning cloud\u2011based systems toward primary-secondary or active-active multi\u2011region models, including regions outside the Gulf, to reduce the shared geopolitical blast radius.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">[These are two different ways of running backup systems across different geographies to ensure a bank stays online. A primary-secondary model works like a main computer and a standby backup: If a crisis knocks-out the main region, the bank has to flip a switch to wake up the secondary region and take over. An active-active model works like a multi-engine airplane: Both regions are fully awake and processing live customer data simultaneously.]<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Selective externalization is the name of the game. This means backups and archives <\/strong><strong>migrating to Europe or Asia<\/strong> for cyber and regional\u2011outage resilience. It also means cross\u2011region designs for cloud security and monitoring platforms, specifically to remain operational if UAE regions are unavailable. We\u2019re in the design phase and, in some cases, have prepared plans that are pending regulatory approval.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>This doesn\u2019t mean relocating the bank, but ensuring cognitive continuity<\/strong>, as in the ability for monitoring, decision\u2011making, data recovery, and command\u2011and\u2011control during regional disruption. We\u2019re positioning this as \u2018cloud maturity,\u2019 not \u2018cloud retreat\u2019 \u2014 it\u2019s not about \u201cCan we recover?\u201d but \u201cHow can we continue operating?\u201d<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>EnterpriseAM: We reported on an 8x surge in DDoS attacks in March. Is your intelligence <\/strong><strong>team see any signs of the use of adaptive AI bots \u2014 specifically, those that can autonomously change their traffic signatures or attack tactics once they\u2019re throttled by your defenses?<\/strong><\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>OB: We haven\u2019t seen confirmed evidence of fully autonomous, self\u2011adapting AI botnets <\/strong><strong>dynamically mutating attack signatures in real time.<\/strong> The March DDoS surge was predominantly driven by hacktivist\u2011style DDoS campaigns characterized by high volume, rapid coordination across groups, and sustained, rolling attacks across multiple days and geographies.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The dominant behavior was human\u2011directed adaptation, not autonomous AI adaptation. <\/strong>The human behavior pattern included manual switching, HTTP floods, and application\u2011layer pressure, as in re\u2011targeting banks and public\u2011facing portals as defenses were activated. Those attacks were loud, visible, and symbolic, rather than stealth\u2011driven. While fully autonomous adaptive botnets have not been observed, we\u2019re acutely aware \u2014 through external advisories \u2014 that AI\u2011accelerated offensive capabilities are emerging, particularly in exploit discovery and chaining, rather than DDoS traffic shaping itself. Current data shows limited evidence of APT\u2011level, destructive tooling.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>EnterpriseAM: How should other institutions think through the capex piece?<\/strong><\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>OB: We used three principles that we think are widely applicable. <\/strong>First, we defined what a \u201cminimum viable bank\u201d looked like and set out to deliver that, not maximum fortification. That means ensuring the bank can continue operating a critical subset of services. In our case, that meant core ledgers, payment, treasury, and regulatory reporting systems and essential security, identity, and data\u2011preservation capabilities \u2014 not full operations.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>You also want to see those investments be \u201creversible\u201d where possible. <\/strong>Think about temporary cross\u2011region data copies, additional cloud capacity, and backup preservation.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>And when you\u2019re making your case, always set out the cost of prevention in the context <\/strong><strong>of the cost of outage. <\/strong>Spending on resilience is easy to quantify \u2014 the cost of regulatory exposure, inability to clear payments or meet obligations, and long\u2011tail reputational harm are existential. This isn\u2019t about incremental IT spend, it\u2019s about reputation and delivering on our promises.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong><a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/why-cyber-resilience-is-now-a-non-negotiable-fixed-cost-for-the-banking-sector-in-mena\/\" target=\"_blank\" rel=\"noopener\">Tap or click here to continue reading the full interview<\/a><\/strong> on our website.<\/p>\n\n\n\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/banking\/\">Banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/tech\/\">TECH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/tech-innovation\/\">Tech + Innovation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"115670\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"115670\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/us-iran-trade-more-strikes-near-hormuz-as-houthis-threaten-to-reinstate-red-sea-blockade\/\">\r\n                            This is fine                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/us-iran-trade-more-strikes-near-hormuz-as-houthis-threaten-to-reinstate-red-sea-blockade\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/us-iran-trade-more-strikes-near-hormuz-as-houthis-threaten-to-reinstate-red-sea-blockade\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/us-iran-trade-more-strikes-near-hormuz-as-houthis-threaten-to-reinstate-red-sea-blockade\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=US, Iran trade more strikes near Hormuz as Houthis threaten to reinstate Red Sea blockade&url=https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/us-iran-trade-more-strikes-near-hormuz-as-houthis-threaten-to-reinstate-red-sea-blockade\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/us-iran-trade-more-strikes-near-hormuz-as-houthis-threaten-to-reinstate-red-sea-blockade\/&title=US, Iran trade more strikes near Hormuz as Houthis threaten to reinstate Red Sea blockade\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=US%2C+Iran+trade+more+strikes+near+Hormuz+as+Houthis+threaten+to+reinstate+Red+Sea+blockade+https%3A%2F%2Fenterpriseam.com%2Fmenaplus%2F2026%2F06%2F10%2Fus-iran-trade-more-strikes-near-hormuz-as-houthis-threaten-to-reinstate-red-sea-blockade%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/us-iran-trade-more-strikes-near-hormuz-as-houthis-threaten-to-reinstate-red-sea-blockade\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/1324.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"115671\" data-permalink=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/us-iran-trade-more-strikes-near-hormuz-as-houthis-threaten-to-reinstate-red-sea-blockade\/1324-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/1324.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1324.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/1324.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/1324.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-115670\" class=\"content-area-description single-story post-115670 post type-post status-publish format-standard has-post-thumbnail hentry category-war-watch tag-egypt tag-enterpriseam tag-geopolitics tag-logistics tag-war-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>More fighting, but the ceasefire is fine?<\/strong> Iran exchanged yet more attacks with US and its neighbors in the region yesterday and overnight, starting with <a target=\"_blank\" href=\"https:\/\/x.com\/CENTCOM\/status\/2064290478091067601\" style=\"\">Iran shooting down<\/a> a US Army Apache near the coast of Oman yesterday. Washington launched retaliatory strikes last night in <a target=\"_blank\" href=\"https:\/\/x.com\/CENTCOM\/status\/2064457103134343170\" style=\"\">what it called<\/a> \u201ca proportional response to unjustified Iranian aggression,\u201d hitting air defense, ground control stations, and surveillance radar sites near the Strait of Hormuz. The Islamic Revolutionary Guard Corps <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/iran-targets-us-bases-jordan-gulf-after-trump-orders-strikes-near-hormuz-2026-06-10\/\" style=\"\">responded by attacking<\/a> US bases in Bahrain and Jordan, as well as Kuwait. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite the back-and-forth hits, Washington reportedly thinks peace talks won\u2019t be <\/strong><strong>negatively affected<\/strong>, <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2026\/06\/09\/world\/live-news\/iran-war-trump-israel?post-id=cmq75jshj0006356r78htf05r\" style=\"\">according to officials<\/a>. Still, the negotiations are fraught at best, particularly as the talks between Israel and Lebanon \u2014 which Iran has made clear is a requirement for its own peace agreement \u2014 is still up in the air. Lebanese President Joseph Aoun made a direct appeal <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2026\/06\/05\/tv\/video\/amanpour-aoun\" style=\"\">earlier this week<\/a> to Israel to come to the negotiating table for a non-aggression pact (not a full peace deal) rather than pushing ahead with its military aggression against Lebanon. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The shaky peace talks are reviving a long fraught risk for global shipping and energy <\/strong><strong>markets: A blockade of Bab Al Mandab. <\/strong>Yemen\u2019s Houthis threatened on Monday to reinstate its policy of attacking Israel-linked vessels \u2014 a threat that was broad and unpredictable enough to bring a major halt to shipping through the Red Sea chokepoint for almost two years previously. <\/p>\n<p><strong>REMEMBER- Houthis sat on the sidelines for most of the US-Israel-Iran escalation over <\/strong><strong>the last three months<\/strong>, with pundits saying early in the conflict that Iran was keeping the Yemeni militant group on the sideline as a strategic winning card if things get bad. During Israel\u2019s war on Gaza, the Houthis attacks saw global carriers divert vessels en-masse away from the Red Sea to the longer route around the Cape of Good Hope. <\/p>\n<p><strong>What this means for the Suez Canal and Asia:<\/strong> The Suez Canal could regain GCC-Asia flows of critical goods that must keep moving \u2014 like Saudi crude, GCC fertilizers, aluminum, and food \u2014 even as Europe-Asia carriers again reroute via the Cape of Good Hope. Asia gets the worst of it: Higher costs and longer lead times across both corridors. Big shippers are <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/31\/red-sea-risk-is-back-and-markets-wont-wait-for-shipping-attacks\/%5C\" style=\"\">risk-averse<\/a> and shift quickly \u2014 which is easier now given surplus capacity due to new deliveries, as our LogisticsAM desk <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/logistics\/2025\/11\/18\/global-shipping-firms-face-headwinds-as-year-comes-to-a-close\/\" style=\"\">previously reported<\/a>. If the Houthis do launch an attack, both GCC-Asia and Europe-Asia flows hit Suez or the Cape almost overnight. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/geopolitics\/\">geopolitics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/logistics\/\">LOGISTICS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/war-watch\/\">WAR WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"115672\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"115672\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/morocco-tops-african-industrial-rankings-as-2025-gdp-growth-accelerates\/\">\r\n                            Top of the class                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/morocco-tops-african-industrial-rankings-as-2025-gdp-growth-accelerates\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/morocco-tops-african-industrial-rankings-as-2025-gdp-growth-accelerates\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/morocco-tops-african-industrial-rankings-as-2025-gdp-growth-accelerates\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Morocco tops African industrial rankings as 2025 GDP growth accelerates&url=https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/morocco-tops-african-industrial-rankings-as-2025-gdp-growth-accelerates\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/morocco-tops-african-industrial-rankings-as-2025-gdp-growth-accelerates\/&title=Morocco tops African industrial rankings as 2025 GDP growth accelerates\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Morocco+tops+African+industrial+rankings+as+2025+GDP+growth+accelerates+https%3A%2F%2Fenterpriseam.com%2Fmenaplus%2F2026%2F06%2F10%2Fmorocco-tops-african-industrial-rankings-as-2025-gdp-growth-accelerates%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/morocco-tops-african-industrial-rankings-as-2025-gdp-growth-accelerates\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/630.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"115673\" data-permalink=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/morocco-tops-african-industrial-rankings-as-2025-gdp-growth-accelerates\/630-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/630.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"630.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/630.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/630.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-115672\" class=\"content-area-description single-story post-115672 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-manufacturing tag-morocco wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Morocco is having a moment in the sun:<\/strong> Morocco\u2019s economy grew at a 4.9% clip in 2025, accelerating from 4.4% the year before, according to <a target=\"_blank\" href=\"https:\/\/www.hcp.ma\/Situation-economique-nationale-en-2025_a4317.html\" style=\"\">data from the country\u2019s<\/a><a target=\"_blank\" href=\"https:\/\/www.hcp.ma\/Situation-economique-nationale-en-2025_a4317.html\" style=\"\">High Commission for Planning<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A rebound in agriculture did much of the heavy lifting<\/strong>, growing 7.1% after contracting 5.1% in 2024, with agricultural value added rising 8.2% in 2025. That figure had dropped 5.7% the previous year. Investment was the other standout, with gross investment rising 16.3% \u2014 2.4 percentage points higher than 2024. On the downside, Morocco\u2019s trade balance weighed on growth, with import growth (+9.0%) outpacing exports (+6.6%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Beyond the headline growth, Morocco\u2019s industrial horsepower drew its own recognition.<\/strong> Morocco overtook South Africa to become the highest-ranked industrial economy in Africa for the first time on record, according to the African Development Bank\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/598.pdf\" style=\"\">Industrialization Index for 2025 (pdf)<\/a>. The bank credited sustained industrial upgrading, export diversification, and \u201ceffective implementation of strategic industrial policy.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The reversal is as much about Pretoria as it is about Rabat:<\/strong> South Africa, still described as a \u201ccontinental industrial powerhouse,\u201d continues a long, gradual slide in industrial competitiveness. The two countries lead a small group of North African frontrunners, alongside Egypt and Tunisia, that the report says continue to outperform their peers by a wide margin.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The industrial success story shows in the data:<\/strong> Morocco\u2019s automotive sector \u2014 now the country\u2019s leading export category \u2014 <a target=\"_blank\" href=\"https:\/\/www.moroccoworldnews.com\/2026\/06\/312929\/moroccos-automotive-exports-reach-6-3-billion-in-first-four-months-of-2026\/\" style=\"\">generated MAD 58.28 bn<\/a> (USD 6.3 bn) in export revenues in the first four months of 2026, rising 18.6% y-o-y. Car assembly was the fastest-growing segment, with exports growing 33.5% y-o-y to MAD 23.9 bn (USD 2.6 bn), while the wiring harness segment rose 16.1% y-o-y. The gains weren\u2019t universal across the sector \u2014 textiles and leather, electronics, and phosphate derivatives all slipped over the period. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/manufacturing\/\">manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"115674\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"115674\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Sports<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/five-more-clubs-go-up-for-sale-as-football-privatization-push-accelerates\/\">\r\n                            For sale                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/five-more-clubs-go-up-for-sale-as-football-privatization-push-accelerates\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Investors have until 5 July to file prequalification applications under the Sports Clubs Investment and Privatization Project. The Sports Ministry says it is matching each club\u2019s readiness against buyer seriousness rather than rushing clubs out the door.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pipeline is building:<\/strong> Expressions of interest (EOI) will stay open on a rolling basis, and a deal takes 8-10 months to close once a buyer surfaces. More than 80 EOIs are now registered across 22 clubs. The government has completed transactions on 11 clubs and two more \u2014 Al Najma and Al Akhdoud \u2014 are close to contract signing, Ibrahim AlMoaiqel, assistant deputy minister for investment and privatization, <a target=\"_blank\" href=\"https:\/\/www.agbi.com\/business-of-sport\/2026\/06\/saudi-arabia-lining-up-football-club-sales-within-months\/\" style=\"\">said last week<\/a>. The Al Akhdoud privatization stalled last year after interested investors failed to meet the requirements. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pitch to buyers: Get in early.<\/strong> \u201cWe intend to bring more clubs to the market over the next few months,\u201d AlMoaiqel said, likening the current moment to the run-up to Major League Soccer\u2019s value surge before the 2026 World Cup in North America. Saudi Arabia is looking to boost club valuations ahead of the 2034 World Cup by <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/06\/01\/saudi-football-moves-from-checkbooks-to-balance-sheets\/\" style=\"\">deepening commercial activity<\/a> and investment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The model has shifted from spending to selling. <\/strong>Riyadh restructured the sector in 2023, folding its four biggest clubs (Al Hilal, Al Nassr, Al Ittihad, and Al Ahli) into companies that are majority-owned by the PIF, and bankrolling a wave of marquee signings. The fund agreed <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/19\/kingdom-holding-snaps-up-70-of-al-hilal\/\" style=\"\">to offload<\/a> 70% of Al Hilal to Prince Alwaleed bin Talal\u2019s Kingdom Holding Company at an SAR 1.4 bn (USD 373 mn) enterprise value \u2014 its first sell-down, and the first club offered to a corporate buyer.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/football\/\">football<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"115676\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"115676\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">THE SCORECARD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/menas-publicly-listed-tech-players-are-trailing-their-global-counterparts\/\">\r\n                            Out of step                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/menas-publicly-listed-tech-players-are-trailing-their-global-counterparts\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/menas-publicly-listed-tech-players-are-trailing-their-global-counterparts\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/menas-publicly-listed-tech-players-are-trailing-their-global-counterparts\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=MENA\u2019s publicly-listed tech players are trailing their global counterparts&url=https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/menas-publicly-listed-tech-players-are-trailing-their-global-counterparts\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/menas-publicly-listed-tech-players-are-trailing-their-global-counterparts\/&title=MENA\u2019s publicly-listed tech players are trailing their global counterparts\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=MENA%E2%80%99s+publicly-listed+tech+players+are+trailing+their+global+counterparts+https%3A%2F%2Fenterpriseam.com%2Fmenaplus%2F2026%2F06%2F10%2Fmenas-publicly-listed-tech-players-are-trailing-their-global-counterparts%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/menas-publicly-listed-tech-players-are-trailing-their-global-counterparts\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2365.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"115677\" data-permalink=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/menas-publicly-listed-tech-players-are-trailing-their-global-counterparts\/2365-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2365.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2365.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2365.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2365.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-115676\" class=\"content-area-description single-story post-115676 post type-post status-publish format-standard has-post-thumbnail hentry category-the-scorecard tag-ai tag-capital-markets tag-egypt tag-enterpriseam tag-morocco tag-saudi-arabia tag-tech tag-the-scorecard tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Middle <\/strong><strong>East tech stocks are approaching bear-market territory<\/strong>, with Magnitt\u2019s new Magnitt Tech Index (MGTI) down 17.8% YTD on the back of the regional conflict, the venture intelligence platform said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/573.pdf\" style=\"\">press release (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MGTI tracks 15 tech firms across the UAE, Saudi Arabia, Morocco and Egypt worth a <\/strong><strong>combined USD 11.1 bn<\/strong> \u2014 six in Saudi Arabia, six in the UAE, two in Egypt, and a single company in Morocco. Quantitative benchmarks used for inclusion require companies to have at least 50% of their revenues attributed to proprietary tech, a free market cap no less than USD 50 mn, and a daily average trading volume of USD 500k or more<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trailing the global peer set:<\/strong> MGTI returned 76% over three years (2023-25), against 133% for MSCI\u2019s emerging markets tech index, the MSCI EM IT. The gap reflects MENA tech\u2019s limited exposure to AI and semiconductors, plus the devaluation of the EGP, which erased some 38% of Fawry and 31% of e-finance\u2019s USD value. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>AI-linked firms have driven one of the most sustained stock market rallies globally in recent memory. Bloomberg reported last month that the AI rally is currently delivering momentum investors their best returns in decades. Some individual names have seen staggering gains \u2014 SanDisk shares, buoyed by AI\u2019s data storage demands, have climbed more than 600% this year. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/tech\/\">TECH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/the-scorecard\/\">The Scorecard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"115678\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"115678\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/qatar-greenlights-foreign-investments-in-new-real-estate-projects\/\">\r\n                            New ground                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/qatar-greenlights-foreign-investments-in-new-real-estate-projects\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The change, which Qatar\u2019s cabinet <a target=\"_blank\" href=\"https:\/\/thepeninsulaqatar.com\/article\/07\/06\/2026\/qatar-updates-list-of-10-areas-open-to-non-qatari-property-ownership\" style=\"\">approved this week<\/a>, amends the country\u2019s 2020 framework governing foreign ownership and usufruct rights in designated areas in a move that\u2019s being framed as part of a broader push to attract international capital and diversify the economy beyond hydrocarbons. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Simaisma now joins a roster of approved zones<\/strong> that includes West Bay Lagoon, Al Dafna, Lusail, Al Khor resort, and Jabal Thaileb, among others. In choosing Simaisma \u2014 which is being developed by Qatari Diar into one of the country\u2019s largest tourism and leisure destinations \u2014 Doha is looking to offer up an attractive option for private-sector participation and non-oil FDI.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Easing the squeeze<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-08\/saudis-cut-july-oil-prices-to-asia-though-still-at-decades-high\" style=\"\">slashed its official selling price<\/a><\/strong><strong> for crude oil to Asia for July<\/strong>, bringing the price down by USD 6 \/ bbl to a premium of USD 9.50 \/ bbl above average quotes for Oman and Dubai. The pricing change matched up with <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-arabia-may-lower-july-oil-prices-asia-demand-weakens-2026-05-29\/\" style=\"\">industry expectations<\/a> and comes as demand is waning in Asia, with consumers struggling to keep pace with higher prices, which in turn brought refining margins under pressure. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Building backup <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Kuwait <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.alraimedia.com\/article\/1768738\/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\/%D9%86%D9%81%D8%B7\/%D8%AA%D8%B1%D8%B3%D9%8A%D8%A9-%D9%85%D8%B1%D8%A7%D9%81%D9%82-%D8%AA%D8%B5%D8%AF%D9%8A%D8%B1-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D8%A8-3035-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%8A%D9%86%D8%A7%D8%B1\" style=\"\">tapped<\/a><\/strong> <strong> India\u2019s engineering contractor major Larsen & Toubro (L&T) <\/strong><strong>to upgrade the country\u2019s existing oil storage and export network. <\/strong>The USD 992 mn upgrade would reportedly <a target=\"_blank\" href=\"https:\/\/globalflowcontrol.com\/newsroom\/kuwait-oil-company-gets-bids-for-jurassic-light-oil-facilities\/\" style=\"\">see<\/a> L&T build new storage and integrate systems that allow Kuwait to handle more than one crude stream across the export system.<\/p>\n<p><strong>As one of the most vulnerable GCC exporters, Kuwait has been scrambling to build <\/strong><strong>hedges against disruptions, but none offer immediate solutions.<\/strong> It is <a target=\"_blank\" href=\"https:\/\/www.dawn.com\/news\/1999818\" style=\"\">reportedly<\/a> in discussions with Pakistan over crude storage buildout and it <a target=\"_blank\" href=\"https:\/\/www.oilandgasmiddleeast.com\/news\/kuwait-pipeline-awards\" style=\"\">awarded<\/a> around USD 1.5 bn in crude pipeline contracts earlier this year. <\/p>\n<p class=\"tag-border-left\">Farm to table <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia is turning to Russia to help shore up its food security and boost<\/strong><strong> localization<\/strong>, with the two countries signing 13 agreements worth a combined SAR 4.8 bn (USD 1.28 bn), the <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2608857\" style=\"\">Saudi Press Agency<\/a> reports. The agreements cover the localization of veterinary vaccines, securing livestock feed, and the export of Saudi fish, camel milk, and coffee. The agreements come after Saudi Arabia and Russia <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/06\/07\/saudi-russian-ties-get-a-boost-at-st-petersburg\/\" style=\"\">set a target<\/a> of USD 1.46 bn in Russian investments over the next five years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Two for Damascus<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi real estate firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/abyatproperty.com\/en\/\" style=\"\">Abyat<\/a><\/strong><strong> is launching<\/strong><strong> two new developments in<\/strong><strong> Damascus worth more than USD 2 bn combined<\/strong>, according to state news agency <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sana.gov\/posts\/pfbid02kPsXLdQhG9C6FhiJaofBK8ZP8j74ndeK9T4t7LmDtgXY7RUGkwMTzx6nQJ1ManZ4l?rdid=U4lUPz5ImrpFQgn9#\" style=\"\">Sana<\/a>. The developments include Abyat Hills in Damascus\u2019 Qudsaya E3 suburb, with a four-year completion timeline, and the larger Modern Urban Cluster in Al Bajaa, which is expected to be developed over eight years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The developments extend Riyadh\u2019s post-war Syria playbook<\/strong> \u2014 leading Saudi businesses into strategic sectors to secure an early commercial foothold, rather than writing aid checks. This builds on SAR 24 bn of agreements signed at the July 2025 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/18411345-7979-4883-9f07-013d3b363d4b\/saudi-companies-sign-sar-bns-in-agreements-with-syria%25e2%2580%2599s-businesses\" style=\"\">Saudi-Syrian Investment Forum<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/investments\/\">investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"115680\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"115680\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/saudi-may-end-up-with-an-outsized-cancelation-bill-in-neom\/\">\r\n                            Staggering                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/saudi-may-end-up-with-an-outsized-cancelation-bill-in-neom\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/saudi-may-end-up-with-an-outsized-cancelation-bill-in-neom\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/saudi-may-end-up-with-an-outsized-cancelation-bill-in-neom\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Saudi may end up with an outsized cancelation bill in Neom&url=https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/saudi-may-end-up-with-an-outsized-cancelation-bill-in-neom\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/saudi-may-end-up-with-an-outsized-cancelation-bill-in-neom\/&title=Saudi may end up with an outsized cancelation bill in Neom\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Saudi+may+end+up+with+an+outsized+cancelation+bill+in+Neom+https%3A%2F%2Fenterpriseam.com%2Fmenaplus%2F2026%2F06%2F10%2Fsaudi-may-end-up-with-an-outsized-cancelation-bill-in-neom%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/saudi-may-end-up-with-an-outsized-cancelation-bill-in-neom\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/961.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"115681\" data-permalink=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/saudi-may-end-up-with-an-outsized-cancelation-bill-in-neom\/961-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/961.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"961.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/961.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/961.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-115680\" class=\"content-area-description single-story post-115680 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking tag-enterpriseam tag-saudi-arabia tag-what-were-tracking wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Ouch\u2026<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>Canceled contracts don\u2019t go away for free:<\/strong> Neom looks set to spend more on canceling contracts than on new projects over the next five years, with SAR 60 bn (USD 16 bn) penciled into its 2026-2030 budget for contractor termination payouts and penalty clauses, <a target=\"_blank\" href=\"https:\/\/www.semafor.com\/article\/06\/07\/2026\/saudis-neom-faces-16-billion-bill-to-cancel-neom-contracts\" style=\"\">Semafor<\/a> reports. That figure outpaces the SAR 40 bn (USD 10.7 bn) planned for new infrastructure spending, most of which is earmarked for Oxagon\u2019s industrial city and utilities. Neom did not respond to our requests for comment as of this writing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Saudi Arabia has been scrapping a few Neom-gigaproject-related contracts following a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/04\/shifting-the-gigaproject-focus\/\" style=\"\">comprehensive review<\/a> after years of delays, design challenges, and cost overruns. Scrapped projects include multi-bn-USD <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/03\/30\/more-trojena-contracts-scrapped-2\/\" style=\"\">contracts to build a freshwater lake<\/a> at Trojena and a USD 1 bn tunneling contract at <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/03\/25\/the-giga-scaleback-continues-as-saudi-exes-usd-1-bn-tunnelling-contract-for-the-line\/\" style=\"\">Neom\u2019s The Line<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Fading<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>Is LIV Golf\u2019s funding drying up?<\/strong> The Public Investment Fund\u2019s remaining LIV Golf funding may not be enough to cover the 2026 season in full, <a target=\"_blank\" href=\"https:\/\/frontofficesports.com\/newsletter\/liv-golf-funding-in-doubt\/\" style=\"\">Front Office Sports<\/a> reports. The league\u2019s cancellation of its New Orleans tournament and the 47-day gap until its next scheduled event reportedly raised concerns about the stability of the calendar and the durability of the fund\u2019s backing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>LIV currently receives funding from the PIF every month and is still operating on the <\/strong><strong>assumption that those payments will continue<\/strong> through the season, an unnamed league source told the news outlet. CEO Scott O\u2019Neill said the league has begun reaching out to prospective partners as it looks to attract new investments. LIV Golf was reportedly <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/this-morning-humain-eyes-sar-20-bn-goldman-advised-package-for-riyadh-data-centers\/\" style=\"\">exploring<\/a> a US bankruptcy filing as a worst-case scenario if its search for new capital falls short. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/what-were-tracking\/\">WHAT WE\u2019RE TRACKING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"115682\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/10\/115682\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-115682\" class=\"content-area-description single-story post-115682 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">June 2026<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">10\u201314 June <\/span><span style=\"\">\u2014 Syria Buildex International Construction Exhibition. <\/span><span style=\"\">Syria<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">11 June<\/span><span style=\"\"> \u2014 Central Bank of Turkey monetary policy decision. <\/span><span style=\"\">Turkey<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">16-17 June<\/span><span style=\"font-weight:400;\"> \u2014 US Federal Reserve Open Market Committee meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">21-24 June<\/span><span style=\"\"> \u2014 Afreximbank Annual Meetings. <\/span><span style=\"font-weight:400;\">Egypt<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">July 2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2 July<\/span><span style=\"\"> \u2014 Parliamentary elections. <\/span><span style=\"\">Algeria<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">5 July<\/span><span style=\"\"> \u2014 Independence Day (public holiday, markets closed). <\/span><span style=\"\">Algeria<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">9 July<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">Egypt<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">14 July<\/span><span style=\"\"> \u2014 Republic Day (public holiday, markets closed). <\/span><span style=\"\">Iraq<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">23 July<\/span><span style=\"\"> \u2014 Revolution Day (public holiday, markets closed). <\/span><span style=\"\">Egypt<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">25 July<\/span><span style=\"\"> \u2014 Republic Day (public holiday, markets closed). <\/span><span style=\"\">Tunisia<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">28-29 July<\/span><span style=\"font-weight:400;\"> \u2014 US Federal Reserve Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">30 July<\/span><span style=\"\"> \u2014 Throne Day (public holiday, markets closed). <\/span><span style=\"\">Morocco<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">August 2026<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">13 Aug<\/span><span style=\"\"> \u2014 Women\u2019s National Day. <\/span><span style=\"\">Tunisia<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">20 Aug<\/span><span style=\"\"> \u2014 Revolution of the King and the People Day (public holiday, markets closed). <\/span><span style=\"\">Morocco<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">20 Aug<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">Egypt<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">21 Aug<\/span><span style=\"\"> \u2014 Youth Day (public holiday, markets closed). <\/span><span style=\"\">Morocco<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">25 Aug<\/span><span style=\"\"> \u2014 Prophet\u2019s Birthday (public holiday, markets closed) \u2014 TBD. <\/span><span style=\"font-weight:400;\">Region-wide<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">31 Aug-3 Sep<\/span><span style=\"\"> \u2014 LEAP technology conference.<\/span><span style=\"font-weight:400;\"> Saudi Arabia <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">September 2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">7-9 Sep<\/span><span style=\"\"> \u2014 AIM Congress. <\/span><span style=\"\">UAE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">15-16 Sep<\/span><span style=\"font-weight:400;\"> \u2014 US Federal Reserve Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">15 Sep<\/span><span style=\"\"> \u2014 <\/span><span>IMF\u2019s eighth review of Egypt\u2019s USD 8 bn EFF arrangement. <\/span><span style=\"\">Egypt<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">16-17 Sep<\/span><span style=\"\"> \u2014 Middle East Banking Innovation Summit. <\/span><span style=\"\">UAE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">23 Sep<\/span><span style=\"\"> \u2014 National Day (public holiday, markets closed). <\/span><span style=\"\">Saudi Arabia<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">24 Sep<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">Egypt<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">30 Sep-3 Oct<\/span><span style=\"\"> \u2014 Cityscape Egypt 2026. <\/span><span style=\"\">Egypt<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">October 2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">3 Oct<\/span><span style=\"\"> \u2014 National Day (public holiday, markets closed). <\/span><span style=\"\">Iraq<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">6 Oct<\/span><span style=\"\"> \u2014 Armed Forces Day (public holiday, markets closed). <\/span><span style=\"\">Egypt<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">15 Oct<\/span><span style=\"\"> \u2014 GCC Made in the Gulf Forum + Exhibition. <\/span><span style=\"\">TBD<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">25 Oct<\/span><span style=\"\"> \u2014 Liberation Day (public holiday, markets closed). <\/span><span style=\"\"> Libya<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">25-27 Oct<\/span><span style=\"\"> \u2014 World Investment Forum 2026. <\/span><span style=\"\">Qatar<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">26-29 Oct<\/span><span style=\"\"> \u2014 Future Investment Initiative.<\/span><span style=\"\"> Saudi Arabia<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">27-28 Oct<\/span><span style=\"font-weight:400;\"> \u2014 US Federal Reserve Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">29 Oct<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">Egypt<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">November 2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">1 Nov<\/span><span style=\"\"> \u2014 Revolution Anniversary (public holiday, markets closed). <\/span><span style=\"font-weight:400;\">Algeria<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2 Nov<\/span><span style=\"\"> \u2014 Abu Dhabi International Petroleum Exhibition + Conference (ADIPEC) opens (through 5 Nov). <\/span><span style=\"\">UAE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">6 Nov<\/span><span style=\"\"> \u2014 Green March Anniversary (public holiday, markets closed). <\/span><span style=\"\">Morocco <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">16 Nov<\/span><span style=\"\"> \u2014 Cityscape Global begins (through 19 Nov). <\/span><span style=\"font-weight:400;\">Saudi Arabia <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">December 2026<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">17 Dec<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">Egypt<\/span> <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>A new post-war strategy for QIA? Pulling the plug on big IPOs | Mr. Robot\u2019s nightmare | More US-Iran flare-ups | It\u2019s a good time to be Morocco<\/p>\n","protected":false},"featured_media":115662,"menu_order":0,"template":"","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-115661","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"a9a5d7a7-3d48-4300-8d0d-fdb5009950cf","teaser":"A new post-war strategy for QIA? Pulling the plug on big IPOs | Mr. Robot\u2019s nightmare | More US-Iran flare-ups | It\u2019s a good time to be Morocco","photo_url":"https:\/\/ent.news\/2026\/2\/466.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Changing playbooks - MENA+ Edition<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/menaplus\/issues\/changing-playbooks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Changing playbooks\" \/>\n<meta property=\"og:description\" content=\"A new post-war strategy for QIA? 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