Good morning, friends. It’s a slightly real estate-heavy news day, with real estate developer MAG planning a major AED 4.5 bn project in Egypt, and a real estate-focused private department of Abu Dhabi’s ruling family raising a landmark syndicated facility.

The big story of the day, however, is Masdar’s shift away from green hydrogen as it reallocates energy — and bns of USD — to powering AI infrastructure amid disappointing uptake of renewable energy. Also: DFM CEO Hamed Ali says foreign trades surpassed local ones in 1H 2025.

⚠️WEATHER- We’re in for some more unstable weather today, with a chance of blowing dust and more afternoon showers, according to the National Center of Meteorology (pdf). The mercury in Dubai will reach 42°C before cooling to 32°C overnight, while Abu Dhabi will peak at 41°C and dip to 33°C after dark.

WATCH THIS SPACE-

#1- UAE firms want in on Iraq’s Mosul International Airport: Twelve companies — including firms from Turkey, Britain, the UAE and Oman — have reportedly submitted bids to run Iraq’s Mosul International Airport, The National reports, citing an unnamed official with the Iraqi Civil Aviation Authority. Turkish airport operator IGA is reportedly among the bidders. A final decision on awarding the bid is expected to be reached by the end of August, the source said.

REFRESHER- Iraq’s Mosul International Airport — which has been out of service since 2014 after its destruction during battles against ISIS — was rebuilt and inaugurated last month, and is expected to be fully operational by September. The airport — based in the Nineveh Governorate — will reportedly handle up to 630k passengers and 30k tons of cargo per year. Its new runway was extended to 3k meters with a width of 45 meters.

#2- First Abu Dhabi Bank (FAB) is among a handful of global lenders who participated in a USD 150 mn FCY-denominated loan for Adani Airport Holdings, Bloomberg reports, citing people it says are familiar with the matter. The syndicate also included Barclays, DBS, and Mitsubishi UFJ Financial Group (MUFG). The four-year loan was priced at about 300 bps over SOFR. The proceeds will be used for bond buybacks and capex. Adani Ports & Special Economic Zone also separately closed a USD 125 mn bilateral facility with MUFG.

In context: Adani’s airport unit has been raising plenty of funds this year to expand capacity and refinance debt. In June, it secured USD 750 mn from global investors led by Apollo Global to refinance existing debt for India’s second largest airport, with some USD 250 mn in additional funding for capex and capacity expansion needs. The funding signals confidence in Adani despite ongoing controversy over potential fraud that had kept it under scrutiny.

REMEMBER– Adani has close links with the UAE: Abu Dhabi’s International Holding Company (IHC) had invested USD 2 bn across Adani Green Energy, Adani Energy Solutions, and Adani Enterprises in 2022, but later said it would offload stakes in the first two, and has been gradually reducing exposure ever since. Earlier this month, it sold a 1.83% stake in AESL for AED 727 mn. Adani’s real estate arm was also reportedly in talks to acquire Emaar’s Indian operations for some USD 1.4 bn acquisition of Emaar’s India, but has since scrapped the plans. Adani’s unit in Dubai, Renew Exim, also raised USD 750 mn via offshore bonds earlier this year to lift its stake in Indian contractor ITD Cementation to 67.5%.

#3- VistaJet gets greenlight for KSA operations: Saudi Arabia’s General Authority of Civil Aviation (Gaca) authorized Dubai-based aviation company VistaJet to offer domestic flights, according to a press release. The move makes VistaJet the first foreign private jet firm to be certified to operate in KSA’s domestic market and follows a Gaca decision to lift its cabotage restrictions for foreign on-demand charter operators in May this year. VistaJet previously only operated in the Kingdom through international routes.

BACKGROUND- Saudi Arabia anticipated strong foreign investor demand for the private jet industry and has been looking to cater to the growing interest, The National reported. Bringing in foreign private jets is also set to help Gaca reach its goal of increasing the sector’s contribution to GDP to SAR 7.8 bn (c. USD 2.1 bn).

DATA POINT-

The Human Resources and Emiratization Ministry caught 405 cases of fake Emiratization at private sector firms in 1H 2025, according to a post on LinkedIn. The ministry took due action against involved companies, it said, adding that inspections and digital monitoring systems were central to uncovering the violations. Firms were meant to have achieved a 7% Emiratization rate by 30 June.

REMEMBER- Private companies must increase their Emirati workforce by 2% each year to reach 10% by 2026. The ins. sector is subject to tougher targets — between 50-60% by 2030, including 45% in critical roles and 30% in top leadership.

THE BIG STORY ABROAD-

The international business press has a small handful of stories that are leading the conversation this morning, including a rundown of the minutes from the US Federal Reserve’s last Federal Open Market Committee meeting.

Federal Reserve policymakers are equally concerned about the twin risks of rising inflation and falling employment levels, but ultimately decided that inflation is the greater risk of the two, the minutes from its July meeting indicate. The meeting came two days before the Labor Department released data showing the unemployment rate rose in July, followed by a revision to employment estimates that has undermined the notion that the US’ job market remains strong. (CNBC | Reuters | Bloomberg)

Meta is reportedly freezing hiring in its AI division as the company reorganizes the division’s structure, the Wall Street Journal reports. The freeze, which came into effect last week, comes after Meta hired more than 50 employees for its AI efforts, fueling some concern over the cost of its superintelligence buildout.

REGIONALLY- Israel is stepping up its offensive in Gaza, confirming yesterday that it has “begun the preliminary operations and the first stages of the attack on Gaza City.” The Israeli army is now “holding the outskirts of Gaza City,” marking a step towards implementing a widely criticized plan to take over the city. This came as Israel called on 60k reserve troops to join the war, even as it is considering its response to the latest ceasefire proposal. (Reuters | Bloomberg)

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CIRCLE YOUR CALENDAR-

The Spring/Summer edition of Dubai Fashion Week will run from Monday, 1 September until Saturday, 6 September at Dubai Design District (d3), ahead of the New York, London, Milan, and Paris fashion weeks. The edition will showcase more than 30 brands from the UAE, Europe, India, and beyond, with runway shows, private events, and an expanded buyers’ program.

The International Government Communication Forumis happening on Wednesday, 10 and Thursday, 11 September at Expo Centre Sharjah. Hosted by the Sharjah Government Media Bureau (SGMB), the two-day forum will include panel discussions, workshops, and keynote speeches focused on using strategic communication to develop five global priorities: food security, public health, education, environmental sustainability, and green economy.

SHRM MENA is hosting its Annual Conference + Expo on Wednesday, 17 and Thursday, 18 September at Madinat Jumeirah in Dubai. Under the theme of Shape the Future of Work, the conference will see HR professionals, business executives, and policy makers meet to discuss global trends and challenges for the workforce. An exhibition will also showcase the latest HR solutions and tools.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

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