Good morning, friends. It’s nearly the weekend, but there’s no calming down the news flow. Today’s issue features plenty of M&A news, with KKR buying into Adnoc’s gas pipeline assets and several updates on mergers and acquisitions we’ve been tracking. On the debt front, US private equity firm Davidson Kempner bought USD 1.4 bn in distressed loans from Abu Dhabi Commercial Bank.

ALSO- A recent Global SWF report shows that Mubadala was the most active sovereign wealth fund from the region in 9M 2025, deploying USD 17.4 bn. And in the real estate sector, Dubai’s 3Q data shows sales were up 19% y-o-y during the quarter, and prices are up 8-10%.

We also have plenty of updates from the Global Rail Transport Infrastructure Exhibition and Conference, below…

WEATHER- Warm by day, humid by night: Dubai will see a high of 37°C and a low of 28°C, while temperatures in Abu Dhabi are set to peak at 38°C, easing to 29°C overnight, with high humidity in both emirates.

WATCH THIS SPACE-

#1- Gulftainer eyes USD 1 bn investment in Egypt’s ports: Sharjah-based port operator Gulftainer is planning to invest USD 1 bn in Egypt’s container terminal management and port logistics services, according to an Egyptian Commercial Representation Service statement. This came during a meeting between Egyptian Transport Minister Kamel El Wazir and company officials on the sidelines of the World Maritime Day Parallel Event in Dubai. The company is looking at managing and operating container terminals in East Port Said, Alexandria, or Damietta.

ALSO- UAE maritime players are in active talks with Bangladeshi officials for potential investments in Bangladeshi ports, including Bangladesh’s Chittagong port, shipping advisor to the Bangladeshi government Sakhawat Hussain told state news agency Wam. Initial discussions already took place with several undisclosed Emirati players to acquire a major Bangladeshi port and manage its operations, Hussain noted, without providing any specific details.

UAE majors have been eying Chittagong: AD Ports inked an MoU in 2024 to explore the development and operation of a multi-purpose terminal in Chittagong port. Dubai-based port operator DP World was also linked to Chittagong, with reports last January saying the firm is exploring investing in a new terminal.

#2- Etihad Rail will launch a bonded rail corridor linking Abu Dhabi’s Khalifa Port to Fujairah port terminals, after signing an MoU with Abu Dhabi Customs, Fujairah Customs, AD Ports Group, Fujairah Terminals, and Noatum Logistics, according to a statement. The rail project will also connect the two ports to their adjacent freezones, forming a “customs corridor” that could help reduce clearance times through coordinated customs operations.

The rail route will begin pilot operations in 4Q, with CEO Shadi Malak noting that the first freight trip — which would also link DP World in Dubai with the other emirates — could happen within two weeks, Zawya reports.

#3- Dragon Oil eyes three new projects in Egypt: Emirates National Oil Company’s (Enoc) subsidiary Dragon Oil is weighing three new potential investments in Egypt, along with others in Iraq, acting CEO Abdulkarim Al Mazmi told Asharq Business (watch, runtime: 6:55). The firm allocates some USD 1.6 bn annually across Egypt, Iraq, and Turkmenistan, and is also looking to enter Southeast Asia in the future.

So far in Egypt: Dragon Oil entered Egypt’s upstream scene in 2020 after acquiring BP’s Gulf of Suez assets, replacing it as Egyptian General Petroleum Corporation’s (EGPC) partner. The company agreed to merge its concession agreements in the Gulf of Suez under a unified framework with EGPC back in April, and had previously committed USD 500 mn in investments to the country this year. It inked a USD 40.5 mn agreement with EGPC in September to drill two new wells at the East Al Hamd oil field off the Gulf of Suez, with around USD 30 mn in initial investments, and secured the North July oil field concession northeast of the Gulf of Suez.

#4- Ducab’s Salalah plant to lift output by 10%: Dubai Cable’s (Ducab) purchase of Oman’s National Cable Factory will add more than 20k tons of output, an extra 10% of its current capacity of 200k-250k tons, CEO Charles Milaji told CNBC Arabia (watch, runtime: 02:46). The acquisition is also expected to support UAE-Oman trade, which already exceeds USD 15 bn annually.

ICYMI- Ducab acquired the Salalah-based factory earlier this week for an undisclosed sum, tying Oman’s manufacturing base to its UAE operations to bolster energy infrastructure and drive high-value exports to Oman and the wider East African region.

#5- Ignyte, Binance to launch platform for entrepreneurs: Dubai International Financial Center’s startup-focused platform Ignyte has partnered with Binance, the world’s largest cryptocurrency exchange, to launch a regional blockchain and crypto innovation platform to support entrepreneurs, according to a press release.

On offer: Ignyte and Binance will support blockchain startups through access to developer tools, training programs, blockchain infrastructure, and mentorship from both parties’ networks and partners.

First up, a hackathon: The alliance will kick off with a competitive hackathon for regional developers. Finalists will be able to pitch to investors, corporate leaders, and policymakers at a demo day to gain access to funding, mentorship, and potential market entry.

#6- Dubai’s Virtual Assets Regulatory Authority (Vara) is deploying an AI-powered monitoring system to police digital asset markets in real time, Arabian Gulf Business Insight reports. The Vara Connect tool will plug directly into the systems of licensed exchanges and service providers, allowing regulators to track live transactions and flag suspicious activity instantly, rather than rely on periodic reviews.

How it will work: The system is designed to sift through data — from customer records to blockchain transactions — and detect red flags such as flows from high-risk jurisdictions or wallets tied to scams and hacks. Licensed virtual asset service providers will be required to connect through an API, consolidating financial, customer, and on-chain data submitted to the regulator.

HAPPENING TODAY-

#1- The Global Rail Transport Infrastructure Exhibition and Conference is on its final day at the Adnec Center Abu Dhabi. The conference gathers industry leaders, government officials, and operators to discuss rail technologies and network expansion.

#2- The Water, Energy, Technology, and Environment Exhibition (Wetex) also wraps today at the Dubai World Trade Center. The exhibition showcases innovations in clean energy, water, and sustainability, and hosts panels on the energy transition and climate action.

#3- The Energy Markets Forum is on its final day in Fujairah. The event will bring together more than 300 participants, including senior officials, experts, and executives from local, regional, and international energy and industry entities to discuss supply security, global economic shifts, and sector risks and potential.

#4- The World Green Economy Summit is on its second day and will run till Friday this week at the Dubai World Trade Center. Organized by the World Green Economy Organization, in partnership with Dubai Electricity and Water Authority and Dubai Supreme Council of Energy, the summit focuses on green economy, sustainability, and climate action. The forum convenes policymakers, business leaders, academics, and civil society to discuss climate solutions and sustainable economic models.

#5- The Zawya GCC Capital Markets Forum will take place today 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.

#6 The Central Bank of the UAE’s International Operational Risk Working Group conference concludes today in Abu Dhabi, according to a press release (pdf). The event brings together representatives from global financial institutions — including the International Monetary Fund, the European Central Bank, and the Bank for International Settlements — to exchange knowledge and develop innovative tools aimed at enhancing financial stability and addressing global operational risks.

THE BIG STORY ABROAD-

All eyes are still on the US shutdown, which began early yesterday morning, as well as on Israel’s interception of vessels from the Gaza aid flotilla.

The shutdown is expected to last at least three days, with the Senate out of session today for Yom Kippur and only expected to meet again on Friday. During this time, White House Budget Director Russell Vought reportedly said the government plans to terminate workers, while some USD 26 bn in funding for Democratic states has been frozen. US President Donald Trump had warned that he would use the funding gap to target “Democrat things.” (Reuters | Bloomberg | CNBC)

Israel intercepted a number of vessels from the Global Sumud Flotilla, which was on its way to Gaza to deliver aid, moving some of the activists on board to an Israeli port. The passengers also said Israel was using “active aggression” on their fleet and trying to sink one of the boats. (Reuters | Guardian)

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