Good morning, friends, and welcome to the final few days of September. It’s a quiet morning in the press, as is usual for Mondays, but we have a roundup of the UAE’s banking sector earnings in 2Q, courtesy of Alvarez and Mersal, showing that profitability remained flat during the quarter. We also have data from Digital Dubai on property price growth across residential and commercial segments in 2Q 2025 — and, no surprise there, prices continued to grow — though residential prices eased slightly from growth in 1Q.

Plus: Global South Utilities launched a 50 MW solar plant in Chad.

ALSO- President meets OpenAI CEO: President Mohamed bin Zayed met OpenAI CEO Sam Altman in Abu Dhabi to discuss potential cooperation in AI research and applications, Wam reports. Altman also received an honorary doctorate from the Mohamed bin Zayed University of Artificial Intelligence for his role in advancing the field.

REMEMBER- OpenAI is partnering with Abu Dhabi’s G42 to lead the development of one of the world’s biggest AI campuses outside America in Abu Dhabi, after the UAE and US signed a pact in May. Abu Dhabi’s MGX invested in OpenAI through its USD 6.6 bn funding raise last year. The Emirates has been pouring USD bns into AI recently, rolling out a new Arabic-language model and planning Europe’s largest AI data center.

The story got ink from Reuters.

WEATHER- Dubai will see a high of 37°C and a low of 30°C, while in Abu Dhabi, the mercury peaks at 38°C with an overnight low of 29°C. Both emirates are set for a humid night.

WATCH THIS SPACE-

#1- 45% less time on Dubai-Ras Al Khaimah road with new Emirates Road upgrade: The Energy and Infrastructure Ministry has launched a new AED 750 mn Emirates Road enhancement and upgrade project, set to be implemented over two years, state news agency Wam reports. The project is set to cut travel times by up to 45% between Ras Al Khaimah and Dubai, reducing traffic congestion and streamlining the flow of goods and services between the emirates.

The breakdown: The road is slated to expand from three to five lanes in each direction over a 25-km distance — from Al Badee Interchange to Umm Al Quwain — increasing the road’s capacity by 65% to 9k vehicles per hour. The project will also develop six directional bridges, spanning some 12.6 km with capacity for 13.2k vehicles per hour, along with 3.4 km of service roads on both sides of the main road.

#2- RTA approves regulatory framework for autonomous heavy vehicles: Dubai’s Roads and Transport Authority (RTA) approved a regulatory framework for autonomous heavy vehicles for logistics transport in Dubai, encompassing licensing, operational trials, vehicle requirements, and safety protocols, according to a statement.

REMEMBER- Abu Dhabi is also making headway in the introduction of autonomous delivery vehicles, with the launch of its first pilot program for autonomous delivery vehicles earlier this month. Abu Dhabi-based drone manufacturer Lodd Autonomous is set to launch unmanned aerial vehicle parcel and cargo deliveries by 2H 2026 — with the first test flight scheduled in November. The emirate has already rolled out self-driving taxis in several areas, including Al Saadiyat and Yas Islands.

Meanwhile, Dubai is also working on piloting autonomous driving, granting permits to Apollo Go, WeRide, and Pony.ai to host autonomous driving trials on Dubai’s roads, according to a statement. Pilot testing is reportedly taking place in Jumeirah and Dubai Silicon Oasis, with the emirate planning an automated transport zone dedicated to testing in order to evaluate how driverless taxis will operate on a large scale. The move is in line with the RTA’s roadmap to launch autonomous taxi services in Dubai and wider plans to convert 25% of all mobility journeys in the emirate into autonomous trips by 2030.

DATA POINTS-

#1- Dubai is now among the world’s top four cities for fintech, according to the latest GlobalFinancial Centers Index (pdf). The emirate also ranked first globally among financial centers expected to become more significant. In the overall Global Financial Centres Index, it ranked in 11th place, and it took the top spot for the Middle East and Africa rankings, with Abu Dhabi following in second.

#2- The UAE’s banking has recorded the lowest net sentiment across the GCC region, battered mainly by operational weakness and drawbacks, according to PwC’s banking sentiment index report (pdf). Meanwhile, Bahrain scored the highest score, boosted by reputational conversation related to awards, share sales, and mergers.

Key issues at home: The negative sentiment was mainly associated with late payments, account closures, technical problems, and perceived fraud, as well as delayed card deliveries.

Customer service topped the conversation in the UAE (64%) with net sentiment significantly negative at -85%, pointing to “major dissatisfaction and poor support experience.” Products came in second with sentiment also strongly negative at -73%.

Slow turnaround times were the main driver of negative customer experience across the GCC region, with customers flagging the issue of long delays in getting responses to their complaints, “often without any resolution or feedback,” according to the report. In the UAE, along with Saudi Arabia and Oman, the “no response” issue emerged as the primary driver of dissatisfaction. These delays were particularly problematic for transactions, perceived card service issues and the processing of transfers and payments.

#3- UAE tops Arab renewable energy investment over two decades: The UAE emerged as the Arab world’s largest investor in renewable energy between 2003 and 2024, Wam reports, citing Arab Investment and Export Credit Guarantee Corporation (Dhaman) data. The country accounted for 57 projects (16% of the regional total), with more than USD 88.5 bn (25%) in investments.

Infinity Power leads on capex: Infinity Power — a joint venture between renewables giant Masdar and Egypt’s Infinity — ranked as the single largest investor in the region’s renewable energy sector by project value, contributing USD 34 bn, or 10% of total foreign investment.

HAPPENING TODAY-

The Abu Dhabi Securities Exchange’s (ADX) Global Investor Roadshow and Conference kicks off today and runs until tomorrow in New York, held in partnership with Morgan Stanley, Wam reports. ADX Chairman Ghannam Almazrouei and CEO Abdulla Alnuaimi are leading a delegation of 15 listed companies — together worth over USD 300 bn — for meetings with global asset managers, hedge funds, and institutional investors.

HAPPENING THIS WEEK-

#1- MENA Investment Congress (MENA Icon) is starting tomorrow and running until Wednesday at Rosewood Hotel Abu Abu Dhabi. The event will bring together regional and international investors, asset managers, and policymakers to discuss capital markets, portfolio strategies, and regional growth prospects. Speakers include hedge fund manager Ray Dalio, Apex Group’s Chief AI and Data Science Officer Helen Wang, and early stage investor Hamza Khushaim.

#2- The Global Rail Transport Infrastructure Exhibition and Conference will run from tomorrow until Thursday at the Adnec Centre Abu Dhabi. The conference will gather industry leaders, government officials, and operators to discuss rail technologies and network expansion.

#3- The Water, Energy, Technology, and Environment Exhibition (Wetex) is also on from tomorrow until Thursday at the Dubai World Trade Center. The exhibition will showcase innovations in clean energy, water, and sustainability, and host panels on the energy transition and climate action.

#4- The Africa Debate Conference will take place tomorrow at the Address Sky View Hotel in Dubai. Policymakers and business leaders will meet to discuss Africa’s role in global trade and investment, with a focus on economic partnerships and future growth.

#5- Dubai Podfest is taking place tomorrow at the Ritz Carlton in Dubai. The gathering will bring together creators, media professionals, and industry players to discuss trends in podcasting and digital audio.

#6- The World Green Economy Summit (WGES) is running from Wednesday to Friday this week at the Dubai World Trade Center. Organized by the World Green Economy Organization — in partnership with Dubai’s Electricity and Water Authority and Supreme Council of Energy — the global summit focuses on green economy, sustainability, and climate action. The forum convenes policy makers, business leaders, academics, and civil society to discuss climate solutions and sustainable economic models.

#7- The Zawya GCC Capital Markets Forum will take place on Thursday at the Fairmont in Dubai. The forum will bring together GCC corporates from traditional wealth exporters to growing capital market participants to address how capital markets are evolving, as well as their surrounding macro environment. The forum will feature C-suite speakers from banks and leading financial institutions including HSBC, Standard Chartered Bank, Emirates NBD, and EFG Hermes.

THE BIG STORY ABROAD-

It’s a quiet Monday morning in the global business press, with no single story dominating the headlines. Among those receiving attention:

#1- Trump is optimistic about his plans to end the war in Gaza, ahead of partaking in a meeting with Israeli Prime Minister Benjamin Netanyahu today. Trump told Reuters he’s had a “very good response” from regional leaders and that “everybody” wants to reach an agreement. Trump’s 21-point proposal centers on halting Israeli strikes and opening a new dialogue between Israel and the Palestinians under a “peaceful coexistence” framework. It calls for the release of all Israeli hostages — living or dead — and would bar further Israeli attacks on Qatar. (Financial Times | Axios | Washington Post | The Guardian)

#2- The region could stand to gain from Trump’s new H-1B visa fees: The Middle East could be the biggest winner from Trump’s plan to slap a USD 100k fee on H-1B visas, with Gulf states already trying to position themselves as an AI hub, potentially luring in tech talent, write CNBC. Saudi Arabia and the UAE are already offering top-tier pay, long-term golden visas, and a business-friendly environment — positioning themselves as an attractive alternative just as US policy tightens.

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PSA-

Emiratis can now enter Trinidad and Tobago without a visa: Foreign Affairs Minister Abdullah bin Zayed Al Nahyan signed an agreement with Trinidadian Prime Minister Kamla Persad-Bissessar and Foreign and Caricom Affairs Minister Sean Sobers to allow Emiratis entry to Trinidad and Tobago without a visa, while Trinidadian citizens holding diplomatic and official passports are granted no-visa access to the UAE, state news agency Wam reports.

OIL WATCH-

Opec+ will potentially agree on a modest production hike of about 137k bbl / d for November at its meeting on Sunday, 5 October, Bloomberg reported on Friday, citing a survey of oil traders and analysts. The cartel has been increasing production quotas since April, adding some 2.5 mn bbl / d in total, and will continue monthly hikes through September 2026, fast-tracking the return of 1.65 mn bbl / d that was previously set to stay offline until end-2026.

CIRCLE YOUR CALENDAR-

The UAE Federal National Council’s (FNC) Legislative Parliamentary Forum will take place on Tuesday, 7 October at the FNC headquarters in Abu Dhabi, state news agency Wam reports. The event will gather legislative council representatives from the GCC, local authorities, academics, and executives in artificial intelligence (AI) to discuss AI policymaking and address challenges in implementing AI-related laws.

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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