{"id":110914,"date":"2025-12-12T00:00:00","date_gmt":"2025-12-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?p=110914"},"modified":"2026-01-04T21:42:25","modified_gmt":"2026-01-04T21:42:25","slug":"this-morning-pax-silica-summit-kicks-off-in-the-us-with-the-uae-present-the-gulf-is-more-involved-in-paramounts-warner-bros-bid-than-meets-the-eye","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/12\/12\/this-morning-pax-silica-summit-kicks-off-in-the-us-with-the-uae-present-the-gulf-is-more-involved-in-paramounts-warner-bros-bid-than-meets-the-eye\/","title":{"rendered":"THIS MORNING: Pax Silica Summit kicks off in the US with the UAE present + The Gulf is more involved in Paramount\u2019s Warner Bros bid than meets the eye"},"content":{"rendered":"

Good morning, friends, and happy FRIDAY. <\/strong>It\u2019s the end of a long, busy week here at home, with Abu Dhabi Finance Week \u2014 which wrapped yesterday \u2014 along with the debut Bridge Summit, and the myriad crypto events taking place in parallel bringing us plenty of news to sift through. <\/p>\n

Today\u2019s issue is somewhat of a mixed bag. <\/strong>From the Bridge Summit, we have a USD 200 mn commitment to Abu Dhabi\u2019s media industry, which will see three firms establish a media and tech innovation center in the emirate and work on the production of two motion picture films next year. And in M&A news, India\u2019s Cyient acquired an Abu Dhabi digital consulting firm to expand in the region. <\/p>\n

Meanwhile, in energy news<\/strong>, Holcim<\/strong> launched the world\u2019s first project to mineralize CO2 underground<\/strong> from its Fujairah plant. <\/p>\n

We also have a rundown of banks\u2019 earnings in 3Q 2025<\/strong> and how their performance compared to previous quarters. <\/p>\n

**A QUICK PROGRAMMING NOTE: <\/strong>EnterpriseAM UAE will be taking a break from your inbox on Monday and Tuesday next week, but we will be back in your inbox at the usual time on Wednesday. <\/p>\n

Speaking of holidays, T<\/strong>hursday<\/strong>, 1 J<\/strong>anuary 2026 will be a paid New Year\u2019s holiday for <\/strong>public-sector <\/strong>employees<\/strong>, with work shifting online on Friday, 2 January for all roles not requiring on-site presence, state news agency Wam<\/a> reports, citing a circular from the Federal Authority for Government Human Resources. We\u2019ll be keeping an eye out for similar confirmation for the private sector. <\/p>\n

\u26c5WEATHER- Expect a mostly cloudy day today<\/strong>, with the mercury peaking at 30\u00b0C in Dubai and 29\u00b0C in Abu Dhabi, before cooling to a low of 21\u00b0C in the former and 19\u00b0C in the capital. <\/p>\n

HAPPENING TODAY- <\/p>\n

<\/a> The UAE is among eight countries attending <\/strong>the Pax Silica summit<\/a><\/strong> hosted by the US<\/strong> today <\/strong>at the White House. The meeting will gather close US allies including the UAE, Japan, South Korea, Singapore, the Netherlands, the UK, Israel, and Australia as the US looks to reduce dependence on China and counter its dominance in AI technology. <\/p>\n

US President Donald Trump plans to sign a declaration to form a coalition to counter China\u2019s control of the critical minerals supply chain<\/strong> and its emerging importance in AI and tech during the summit, which will involve Singapore, Australia, Japan, South Korea and Israel, according to a statement<\/a>. The Trump administration will enlist other countries to join the coalition, though it\u2019s not clear if that includes the countries in attendance at the summit. <\/p>\n

\u201cThis grouping of countries will be to the AI age what the G7 was to the industrial age,\u201d<\/strong> Politico<\/a> quotes Jacob Helberg, the State Department\u2019s top economic policy and trade official, as saying. \u201cIt commits us to a process by which we\u2019re going to cooperate on aligning our export controls, screening of foreign investments, addressing anti-dumping but with a very proactive agenda on securing choke points in the global supply chain system.\u201d<\/p>\n

The grouping is, first and foremost, about competing with China and keeping it from gaining any more advantage in the AI sector.<\/strong> Helberg added: \u201cBy aligning our economic security approaches, we can start to have cohesion to basically block China\u2019s Belt and Road Initiative \u2014 which is really designed to magnify its export-led model \u2014 by denying China the ability to buy ports, major highways, transportation and logistics corridors.\u201d<\/p>\n

DATA POINT-<\/strong> China accounts for over 90% of the world\u2019s rare earths and permanent magnet refining capacity \u2014 essential for the development of computer chips and other AI technology \u2014 followed by Malaysia with just 4%. US and China recently hashed out a framework for a trade agreement to pause steeper Chinese export controls on rare-earths in return for lower US tariffs, though concerns over China\u2019s monopoly over the sector remain. <\/p>\n

The summit will also feature discussions around cooperation in logistics, advanced manufacturing, mineral refining<\/strong>, energy, and compute and data infrastructure<\/strong>, the statement said. <\/p>\n

HAPPENING THIS WEEK-<\/p>\n

The UAE and EU are holding their fourth round of trade negotiations<\/strong> in <\/strong>the <\/strong>UAE<\/strong>, with a fifth round planned for early next year, Reuters<\/a> cites UAE state minister Lana Nusseibeh as saying. Launched in April<\/a>, the talks cover goods and services trade, investment, and cooperation in sectors such as renewable energy, green hydrogen, and critical raw materials. The EU is the UAE\u2019s second-largest trading partner, accounting for 8.3% of its non-oil trade, with some USD 67.6 bn in trade in 2024<\/a>.<\/p>\n

HAPPENING NEXT WEEK-<\/p>\n

Investopia<\/strong> is taking<\/strong> its dialogue series to Dublin on Monday, 15 December<\/strong>, where the UAE\u2019s global investment platform intends to deepen economic and investment ties with Ireland, Wam<\/a> reports. Some 250 officials, as well as executives and investors from both countries, are set to attend the one-day event. <\/p>\n

Sessions will center on new-economy sectors<\/strong>, with a particular focus on AI, infrastructure, and cross-border investment. Economy and Tourism Minister and Chairman of Investopia Abdulla bin Touq Al Marri is scheduled to hold meetings with Irish ministers and business leaders to explore potential cooperation.<\/p>\n

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MORNING MUST-READ- <\/p>\n

GCC in<\/strong>vestors\u2019 exposure to the Warner Bros acquisition may be higher than reported<\/strong>, given their close ties to the transaction\u2019s private equity financiers, Bloomberg<\/a> reports. Abu Dhabi\u2019s L\u2019imad, Qatar Investment Authority, and Saudi Arabia\u2019s Public Investment Fund (PIF) are providing USD 24 bn<\/a> to support Paramount\u2019s hostile takeover bid for Warner Bros, however, many of the other firms involved in financing the bid are themselves backed by GCC players.<\/p>\n

Apollo Global Management, which is among the firms providing up to USD 54 bn in financing for the Paramount offer, has <\/strong>long-standing ties<\/a><\/strong> with Mubadala Investment<\/strong>, while PIF\u2019s venture arm has invested in several Apollo-run funds. Oracle\u2019s co-founder, Larry Ellison, is also involved in the acquisition, and he is a close ally of several regional investors.<\/p>\n

Abu Dhabi-based alternative asset manager Lunate and QIA <\/strong>rece<\/a><\/strong>ntly invested an additional USD 1.5 bn<\/a><\/strong> in Affinity Partners<\/strong>, Jared Kushner\u2019s investment firm, which is also set to provide funding for the transaction. Kushner also played a key role linking the parties in the PIF-Affinity consortium that mounted a USD 55 bn<\/a> bid for Electronic Arts earlier this year.<\/p>\n

REMEMBER-<\/strong> Paramount CEO David Ellison made<\/a> a compelling regulatory and valuation case for his company\u2019s USD 180 bn hostile bid during meetings with Warner Bros shareholders in New York this week, where he also assuaged concerns over reliance on Gulf funds for the bid. Warner Bros\u2019 shareholders have until 8 January to make a decision.<\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> #1- Mubadala eyes transport infrastructure, but regulatory obstacles and few windows<\/strong> stand in its way:<\/strong> Mubadala is keen to expand investments into global transport infrastructure, but a lack of predictable regulatory frameworks and a shortage of suitable prospects are slowing its investment plans, Mubadala\u2019s chief executive of real assets Khaled Al Marri told The National<\/a>. <\/p>\n

The fund is \u201cready to deploy a large amount of capital\u201d into these assets<\/strong> once clear regulatory frameworks are in place and long-term demand is proved, he said. Al Marri cited the airport sector as promising given continued stable traffic volumes over the past two decades.<\/p>\n

The sovereign entity is also pivoting toward digital and energy transition infrastructure.<\/strong> Digital assets, including data centers, fiber networks, and connectivity platforms, account for more than 20% of the fund\u2019s infrastructure capital investments in 2025, Al Marri said. <\/p>\n

REMEMBER-<\/strong> The fund\u2019s investments into transport and infrastructure so far this year include the acquisition<\/a> of 60.3% of Brazilian infrastructure firm Invepar\u2019s subsidiary Linha Amarela, and a partnership<\/a> with Tawazun Council through its aerospace maintenance arm Sanad Group to develop an aircraft engine maintenance, repair, and overhaul facility in Al Ain.<\/p>\n

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<\/a> #2-<\/strong> Abu Dhabi-based digital lender Wio will launch a new payments company in 2026 <\/strong>as it enters its next growth phase, CEO Jayesh Patel told Reuters<\/a>. The bank is also expanding wealth products for affluent clients and expects its retail customer base to grow by at least one-third next year. Patel said Wio is prioritizing domestic scale for now, with no immediate plans to expand into other Gulf markets, and noted that while M&A prospects are under review, the bank has sufficient liquidity to fund upcoming projects.<\/p>\n

REMEMBER-<\/strong> Backed by<\/a> ADQ, Alpha Dhabi, Etisalat (now e&), and First Abu Dhabi Bank, Wio now serves more than 250k retail customers and 120k business clients.<\/p>\n

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#3-<\/strong> UAE-Russia trade <\/strong>could double to more than USD 20 bn by 2030<\/strong> as the two countries expand collaboration across food processing, tourism, financial services and fintech, data, and space, The National<\/a> cites officials as saying at the UAE-Russia Business Forum in Dubai. Trade is expected to exceed USD 10 bn this year, and more than 13.5k Russian companies are now registered in the UAE, including 2k added in 2025. <\/p>\n

Will sanctions slow momentum? Russia said no:<\/strong> Moscow insists Western sanctions won\u2019t affect its UAE trade, even as the measures force Russian-linked firms to unwind assets abroad. <\/p>\n

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#4- <\/strong>BYD eyes UAE push into autonomous driving + local R&D:<\/strong> Chinese automaker BYD is in early talks with UAE authorities to roll out driverless vehicles and establish a domestic R&D center in the country, Executive Vice President Stella Li told The National<\/a>. A related announcement is expected in January, Li said. BYD also plans to build hundreds of 1 MW<\/a> fast chargers in the UAE.<\/p>\n

REMEMBER- The UAE is fast-tracking smart mobility: <\/strong>Abu Dhabi has already licensed Level-4 robotaxis<\/a>, with Uber and WeRide launching the first fully driverless services outside the US on Yas Island and preparing to expand across core districts. Mercedes-Benz and Momenta will supply autonomous S-Class vehicles<\/a> to Lumo Mobility starting January, while Dubai is piloting<\/a> autonomous deliveries through Yango and noon.<\/p>\n

PSAs- <\/p>\n

#1- <\/strong>Adnoc <\/strong>Distribution will enable AE coin payments across its nationwide retail network<\/strong> under a new agreement signed at Abu Dhabi Finance Week, according to a press release<\/a>. Customers will be able to use the AED-pegged, Central Bank-licensed stablecoin across payment channels like fuel stations, car washes, and convenience stores.<\/p>\n

ICYMI- <\/strong>Rolled out in collaboration with Al Maryah Community Bank, AE Coin is already being adopted as a payment method by Emirati players, with the likes of e&<\/a>, 7X<\/a>, Air Arabia<\/a>, Tawasul Taxis<\/a>, and the Abu Dhabi Judicial Department<\/a> among those getting onboard.<\/p>\n

<\/a> #2- <\/strong>The<\/strong> Finance Ministry laid out the details of the <\/strong>newly introduced<\/a><\/strong> tier<\/strong>ed excise tax model<\/strong> on sweetened beverages<\/strong>, set to come into effect on 1 January, state news agency Wam<\/a> reports. The new tax rate \u2014 which aims to curb high sugar consumption \u2014 will be determined based on the sugar content per 100 ml, with the tiered structure set as follows:<\/p>\n