AGP Executive Report

IAEA Nuclear Safety: Qatar reiterated solidarity with the UAE after the Barakah Nuclear Power Plant attack, calling it a breach of international law and nuclear safety principles. UAE-US AI Push: Khaldoon Al Mubarak met US officials in Washington to review investment and partnerships, including the UAE’s $1.4tn US commitment and AI acceleration plans tied to the 5GW UAE-US AI campus. AI Resilience in the Gulf: Tech experts said Iran’s regional attacks won’t derail long-term Middle East AI data-centre ambitions, with the UAE’s major computing buildouts still on track. Energy & Shipping Shock: Commentary warned that Hormuz choke-point risks are easing as alternatives (pipelines and rerouting) gain traction, but Gulf tourism and shipping confidence still take a hit. SME Finance Boost: Wio Bank partnered with Geidea to bring business banking and lending directly to UAE SMEs via Geidea’s merchant network. Humanitarian Airlift: Dubai Humanitarian airlifted WHO medical supplies to support Ebola response in eastern DRC, backing hundreds of patients and about 280 facilities. Dubai Tech & Talent: The inaugural Dubai Esports & Gaming Festival’s Education & Gaming Summit highlighted career pathways as Dubai expands its gaming ecosystem. UAE Legal/Construction: A new UAE civil code update is flagged as key for construction parties, with contract expectations set to shift.

Power & Infrastructure: China Energy Engineering Corporation (CEEC/Energy China) won a $1.7bn EPC contract for Abu Dhabi’s 2.6GW Taweelah C independent power producer, with construction due in 32 months under a TAQA-led consortium. Regulated Gaming: The UAE licensed its first online sports betting and iGaming platform, Play971, under the GCGRA framework. UAE–US Tech & Investment: Khaldoon Al Mubarak met US officials in Washington to advance the UAE–US AI Acceleration Partnership and cooperation across key sectors. Energy Security & Trade Routes: Reports say Iran is rerouting cargo via Iraq’s Umm Qasr port after US-led maritime disruption, using UAE-origin shipments and land links. Financing & Markets: UAE banking assets rose to AED5.57tn at end-April; gross credit and deposits also increased. Sustainability & Circular Economy: Emirates repurposed 88,000kg of inflight Economy plastic into new onboard items, supporting its closed-loop recycling model. Industry Push: EMSTEEL flagged World Environment Day progress, including clean electricity use and decarbonisation targets. Business & Tourism: Dubai Chambers said South African investment in Dubai topped $294m over five years, spanning ICT, pharma and food. Real Estate Sentiment: A survey placed the UAE top for property investment interest globally, citing safety and returns. Trade & Consumer Demand: Travel trade reported Middle East-related hesitation easing into bookings. UAE–Africa Mobility: VEON’s Kyivstar unit expanded Uklon into multimodal mobility by acquiring scooter operator E-wings. Geopolitics & Compliance: US prosecutors accused a California CEO of smuggling US networking and encryption gear to sanctioned Iranian entities via UAE intermediaries. Textiles Circularity: The UAE launched Naseej to cut 220,000 tonnes of textile waste annually and push circular practices. Aviation & Logistics: CargoX raised $250m to expand autonomous delivery in the UAE. Construction & Shipping: SAFEEN Drydocks secured major shipbuilding contracts worth $354m.

Private Markets Stress: Blackstone capped withdrawals at its flagship private credit fund as redemption requests rose, while Partners Group flagged higher repurchase requests—signs of strain spreading across open-ended private credit and private equity. UAE Energy & Trade Resilience: Emirates highlighted closed-loop recycling of 88 tonnes of inflight plastics, and Abu Dhabi’s Department of Energy launched a Water and Energy Resilience Framework under the Water and Energy Majlis. Maritime & Shipbuilding Push: SAFEEN Drydocks won AED 1.3bn in vessel construction contracts, reinforcing UAE shipbuilding capacity. Aviation & Connectivity: Boeing delivered Riyadh Air’s first 787-9 Dreamliners after delays, while Emirates also reported operational updates affecting routes. Digital Payments Regulation: AvenuesAI received in-principle CBUAE approval for a Retail Payment Services Category III licence, aiming to expand cashless e-commerce services. UAE in Global Energy Talks: UAE pledged support for Bangladesh’s energy sector, including LNG trade expansion and grid modernisation.

Real Estate Construction: ORA Developers has awarded UNEC a AED 1.9bn ($517.36m) main works contract for Phase 1 of BAYN in Ghantoot, covering 614 homes plus infrastructure and landscaping, with mobilisation starting June 1 and a 31-month timeline. AI & Cybersecurity: Robo.ai’s Neurovia AI will join Abu Dhabi’s 3rd Government Cybersecurity Summit as an Official Government AI Cybersecurity Partner, pitching “trusted visual intelligence” for UAE public-sector AI. Government & SME Support: Dubai DET launched “SME in a Box” to speed up business setup via one platform linking licensing, banking, digital payments, logistics and telecom services. Finance & Investing: Lunate, an Abu Dhabi manager, is set to list a GCC sharia-compliant dividend ETF on ADX on June 23, tracking a Solactive GCC Shariah Dividend Index. Energy & Trade: UAE crude beat Saudi to become India’s second-largest crude supplier in May, with supplies routed via Fujairah and pipelines bypassing the Strait of Hormuz disruption. Digital Assets: Integra and SettleMint signed an MoU to expand AI and blockchain-compliant real estate tokenisation across the UAE and US.

UAE Energy & Power: EWEC awarded the Taweelah C 2.6GW gas power project contract to a Taqa-led consortium, with a deal running to 2050 and designed to support grid stability while enabling future carbon capture and higher renewables integration. UAE Tech & Mobility: Positron AI opened its first overseas office in Dubai, while SeKondBrain.AI selected Dubai as its base for global enterprise AI expansion. Autonomous Systems: CargoX secured $250m funding to scale driverless logistics in the UAE, and WeRide (with Uber) plans Madrid’s first commercial robotaxi pilot after operating in Abu Dhabi and Dubai. AI & Regulation: Hong Kong moved toward a broader virtual-asset licensing regime, while UAE-linked crypto adoption themes continued to draw investor attention. Geopolitics Impacting Trade: Gulf tensions flared again as Iran-linked strikes hit Kuwait, with the Strait of Hormuz still largely closed—raising oil-price pressure and disrupting regional travel and logistics. Investment & Markets: Arqaam Capital opened its 13th MENA Investor Conference in Dubai, with Sheikh Nahyan highlighting resilience and scaling capital across the region.

Gulf Security & Energy Shock: Fresh Iran-linked attacks hit Kuwait’s airport while the US struck near the Strait of Hormuz, straining a fragile ceasefire and pushing Brent and WTI higher toward $100 as supply fears return. UAE Business Pulse: Despite uncertainty from the Strait of Hormuz, the UAE’s non-oil PMI rose to 52.6 in May, showing continued expansion, though costs and weaker export orders held back momentum. Power & Infrastructure: EWEC awarded the 2.6GW Taweelah C IPP contract in Abu Dhabi to a TAQA-led consortium, with a PPA running to 2050 and a future-ready design for carbon capture. Port & Trade Expansion: AD Ports Group is buying Brazil’s CLI for about AED 3.1bn (US$835m), boosting its agri-bulk and food logistics footprint in South America. Industrial Quality Services: Metal Park in KEZAD partnered with SGS to expand inspection, testing and lab capabilities for metals supply chains. Life Sciences Push: M42 and Arcera signed an MoU to advance biopharma localisation and genomics-informed clinical development in Abu Dhabi. Digital Finance & AI Distribution: VEON says telecom is the cheapest distribution network for AI services, as it scales AI across digital offerings. New Trading Tech in Dubai: Reltrix launched in the UAE to unify trading infrastructure, CRM, back-office, risk and payments connectivity for brokers and exchanges.

Nuclear Safety & Security: IAEA chief Rafael Grossi praised the UAE’s response to the Barakah Nuclear Power Plant drone attack, saying repairs could take “weeks” and that the incident was “carefully targeted,” with Emirati authorities shutting down a reactor after loss of external power. Standards & Quality Tech: Abu Dhabi’s ADQCC launched Mawthooq, a cloud platform linking testing labs to automate delegations, audits, non-conformities and payments—aiming for a trusted, permanent digital record of inspection data. Energy & Trade Resilience: ADNOC resumed naphtha exports via an alternative Oman route through Sohar after Strait of Hormuz disruptions, using ship-to-ship transfers to ease supply risks for Asia. Real Estate Stability: Abu Dhabi Real Estate Centre (ADREC) imposed a temporary rent freeze, setting renewals at 0% increase “until further notice” to stabilize the market. Logistics & Cold Chain: Etihad Rail Freight partnered with Abu Dhabi Fishermen Cooperative to move fresh fish in refrigerated containers from Al Sila’ Port to the Abu Dhabi Fish Market. Business Setup & Payments: KALZERO consolidated UAE business setup, broker tech, fintech software and payment infrastructure into one ecosystem for global compliance and scaling. GCC Connectivity: Kuwait approved the right-of-way and plan for the Kuwait–Saudi rail link, a first phase to connect into the unified Gulf rail network and boost trade and logistics.

UAE Rent Relief: Abu Dhabi Real Estate Centre has frozen rent increases for residential, commercial and industrial properties “until further notice,” keeping renewals at 0% and matching new contracts to the previous rent—an immediate pressure release for tenants amid cost-of-living strain. Dubai Islands Real Estate: Sharafi Group Investments has launched Marea Residences, a boutique luxury waterfront project on Dubai Islands with prices starting from AED 2.74m and handover targeted for Q4 2027. Autonomous Logistics Funding: CargoX, the UAE driverless delivery platform, raised $250m led by BlueFive Capital, with plans to expand operations across Abu Dhabi and Dubai and grow its autonomous network. SME Trade Boost: DWTC Free Zone teamed up with DHL Express UAE to help SMEs scale internationally via GoTrade training and export-readiness support. Industrial Tech in the Cloud: AVEVA and AWS announced a multi-year collaboration to accelerate industrial intelligence delivery on AWS, supporting customer migration and multi-cloud deployment. Energy Markets Watch: OPEC+ is likely to raise July output targets despite Strait of Hormuz disruption and UAE’s exit, keeping oil-price volatility in focus for UAE consumers and industry. EV Charging Rollout: Beam Global deployed six more EV ARC™ solar-powered charging systems for Long Beach, highlighting off-grid charging models that can inform UAE fleet electrification. Gold Price Dip: Dubai retail gold rates fell below a key 22K threshold, drawing shoppers back to the souks as global prices correct.

UAE Policy & Media: The UAE Government Media Office rolled out a new Government Media Content Guideline to standardise how federal entities produce credible, consistent content, with agentic AI flagged as a key tool for faster crisis response. Energy & Rail Collaboration: DEWA met Etihad Rail to explore cross-sector cooperation, including powering rail with clean energy and building smarter, low-carbon infrastructure. Food & Consumer Safety: The Emirates Drug Establishment recalled two insecticide products (“Goodbye All Insects” sprays) over registration, ingredient concentration mismatches, and a prohibited substance. AI & Digital Economy: Positron AI opened its first overseas office in Dubai’s DIFC to expand power-efficient AI inference services for the region’s growing compute demand. Logistics & Trade: DP World announced a further $100m investment to expand the DP World Free Trade Zone in Caucedo, adding warehouse capacity to strengthen port-linked logistics. Real Estate: Arif Developments won the “Editor’s Choice: Excellence in Luxury Living” award at the Gulf Business Real Estate Summit & Awards 2026 in Dubai. Security & Shipping Risk: Reports of attacks damaging a container ship off Iraq highlighted ongoing risks for vessels operating in the northern Arabian Gulf amid Strait of Hormuz uncertainty.

UAE Mobility & Transport: Dubai Taxi Company (DTC) signed an MoU with Ajman’s AJ Industries to expand mobility services in Ajman, including a plan for a scalable mobility platform, e-hailing integration, fleet optimisation and premium limousine services. Energy Security: ADNO C is accelerating a West-East onshore pipeline to bypass the Strait of Hormuz and double oil exports via Fujairah, targeting operations in 2027. AI & Data Infrastructure: Positron AI opened its first international office in DIFC, bringing AI inference infrastructure to the UAE as global demand shifts from training to lower-cost inference. Industrial & Engineering Growth: AESG opened a new 25,000 sq ft Dubai headquarters as its project pipeline and headcount surged, while Abu Dhabi Maritime Academy signed with Bahrain Polytechnic to boost maritime, engineering and tech training and applied research. Circular Economy & Textiles: The UAE launched the Naseej initiative to reshape the textile sector into a circular-economy priority. Business & Trade Links: Dubai Chambers held meetings in Addis Ababa to strengthen Dubai–Ethiopia trade and investment ties. Geopolitics Impacting Industry: Ongoing Strait of Hormuz disruptions continue to pressure global energy flows, with shipping and commodity markets still bracing for months of volatility.

UAE-Serbia Ties: Sheikh Mohamed bin Zayed spoke by phone with Serbia’s President Aleksandar Vučić on boosting cooperation in the economy, development and renewable energy, reaffirming long-term partnership under the UAE-Serbia Comprehensive Economic Partnership Agreement. Clean Energy Leadership: IRENA points to the UAE as a proving ground for renewables, citing Noor Abu Dhabi and large-scale solar-plus-storage projects like Al Dhafra as proof that firm, reliable power can be delivered competitively. AI Power & Markets: ADIA-backed INNIO targets up to a $20.25bn valuation in its US IPO, aiming to fund distributed energy systems for data centers and industrial power demand. Shipping & Hormuz: Strait of Hormuz transits are rising as the US provides navigation advice; shipowners report more vessels moving and Iranian fast-boat encounters being deterred. Trade & Industry Links: Dubai Chambers met Ethiopian ministries and investment bodies in Addis Ababa to expand industrial cooperation and attract Emirati investment, including talks with Ethiopia’s sovereign wealth fund. Business & Courts: A Dubai Civil Court ordered a company to pay about Dhs1.43m to a food supplier over unpaid frozen chicken imports. UAE Agriculture Innovation: An Emirati in Al Ain is propagating non-native fruit trees using worm castings and farm-waste recycling, turning a desert plot into an experimental agricultural field. Water Security Push: The UAE highlights its Mohamed Bin Zayed Water Initiative as a global platform for water-scarcity solutions, combining diplomacy, financing and innovation.

UAE Macro Snapshot: The UAE economy grew 6.2% in 2025 to AED 1.9tn, with non-oil GDP up 6.8% to AED 1.5tn; construction led at 11.1%, followed by finance/insurance (10.4%), real estate (7.9%) and transport/storage (7.8%). Fuel & Cost Signals: UAE petrol and diesel prices for June 2026 were announced, with Super 98 rising to Dhs3.95/litre while diesel falls to Dhs4.33. Nuclear Safety Watch: UN nuclear chief Rafael Grossi warned of a “pattern” of attacks on nuclear plants after incidents involving Abu Dhabi’s Barakah facility, urging heightened protection. AI Infrastructure Push: Asprofin Bank is evaluating a sovereign data centre programme in the UAE—three hyperscale sites targeting 750–1,280 MW of AI capacity over 10–15 years. Trade & Logistics Reality: With Strait of Hormuz traffic picking up after US-provided navigation advice, shipowners report improved passage conditions—an immediate lever for regional shipping and energy flows. Regional Energy/Industry Link: Japan’s Saudi crude imports fell sharply in April, while UAE remained a major supplier, highlighting how Hormuz disruptions keep reshaping Gulf-to-Asia energy routes. UAE in Iran Conflict Reporting: A Wall Street Journal report claims the UAE carried out dozens of coordinated airstrikes on Iran during the war, targeting energy and military infrastructure.

UAE Macro & Growth: The UAE economy hit Dh1.9tn in real GDP in 2025, growing 6.2% year-on-year, with non-oil GDP up 6.8%; construction led sector growth at 11.1%, while trade (16.9% share of non-oil GDP) stayed the biggest contributor. Fuel & Cost Outlook: UAE petrol prices are expected to fall in June as global oil drops, but analysts say the slide may be slower than the rapid post-2022 shock. Abu Dhabi Investment Push: Abu Dhabi is doubling down on attracting global firms with legislative support, infrastructure and diversification plans under Abu Dhabi Economic Vision 2030. Eurasia Trade Momentum: UAE trade with EAEU states rose 15% to over Dh121bn in 2025, reinforcing the emirate’s push for new routes and partnerships. Shipping Risk Watch: US and UK maritime advisories warn vessels to take extra caution in the Strait of Hormuz amid ongoing military activity north of Musandam. Modular Construction Deal: EcoModular signed an MoU framework with partners in Riyadh and Riga to market and deliver modular building projects across the GCC. Eid for Workers: Around 300,000 workers took part in Eid Al Adha celebrations across 30 UAE locations, backed by MoHRE and multiple government and private partners.

Aviation & MRO Expansion: Emirates Airlines broke ground on a $5.1B aircraft engineering facility in Dubai South, aiming to make the hub a major global maintenance, repair and overhaul destination with a 1.1m sq m campus and a 285m free-span hanger. Trade & Logistics: UAE trade minister Thani Al Zeyoudi pushed “paperless logistics” and new transport routes at the Eurasia Economic Forum in Kazakhstan, backing deeper UAE-EAEU connectivity as non-oil trade with the bloc tops $33.3B. AI for Public Services: Analysts say the UAE’s push toward “agentic AI” could shift government services from chatbots to personal AI concierges that handle tasks across agencies. Coffee Supply Chain Resilience: UAE coffee suppliers say Iran-war-linked shipping disruption, freight and insurance costs are forcing them to protect flavour consistency rather than change recipes. Energy & Shipping Pressure: Japan’s crude imports fell 66% in April as Hormuz disruptions cut Middle East supply flows, while reports highlight rising “dark” transits as firms keep cargo moving. Regional Integration: The EAEU began free-trade talks with Tunisia, while leaders also flagged future agreements with partners including the UAE.

Energy Investment Outlook: The IEA says global energy investment could surge to $3.4tn this year, with $2.2tn for electricity (grids, storage, nuclear, wind/solar, efficiency) and $1.2tn for oil and gas, while crude investment is expected to keep sliding. UAE Offshore Expansion: ADNOC-linked Zakher Marine International is exploring US Gulf opportunities as ADNOC L&S builds a North America footprint via Houston. Hormuz Shipping Pressure: US officials warn nearly 2,000 vessels are stuck around the Gulf amid Strait of Hormuz disruptions, keeping freight and energy risks front and centre. Sanctions & Trade Risks: The US imposed fresh sanctions on entities and vessels tied to Iran’s oil and petrochemical exports, including UAE-linked operators. Diplomacy Update: US and Iran negotiators reached a tentative ceasefire extension framework for 60 days, with shipping through Hormuz and mine removal key points, pending Trump sign-off. Aviation & Health: Emirates issued an Ebola travel advisory after US and Canada tightened entry screening for travellers linked to Uganda. UAE Travel Readiness: Dubai Customs boosted operational readiness for Hajj return and Eid Al Adha travel flows. Events & Tourism Infrastructure: ADNEC Centre Abu Dhabi won five Eventex 2026 awards, including best sustainable venue and convention centre. Food & Agri Trade: Japan suspended fresh mango imports from India over pest-control concerns, a blow to exporters already hit by heat and freight costs. UAE Digital Mobility: VFS Global founder Zubin Karkaria’s rise highlights how outsourced visa services scaled globally, with Dubai as a key hub.

Trade & Logistics Readiness: Dubai Customs ramped up smart, around-the-clock processing at airports and ports for Hajj return and Eid Al Adha travel, aiming to cut queues while keeping security tight. Energy & Shipping Risk: The US and Iran moved toward a 60-day ceasefire extension and nuclear talks, but fresh strikes and Kuwait’s reported missile/drone interceptions show the Strait of Hormuz remains a volatile chokepoint for global oil and gas flows. Sanctions & Market Pressure: Washington imposed new sanctions on Iran’s military-linked oil trade, targeting tankers and entities tied to revenue streams that fund Iran’s armed forces—adding uncertainty for shipping and regional trade. AI for Industry: Abu Dhabi University students showcased AI projects that tackle education fairness and sustainability use-cases, reflecting the UAE’s push to turn AI into practical capability. UAE Finance & Investment: ADIA-linked selling stockholders were among those behind Medline’s upsized secondary offering, underscoring continued Gulf capital participation in global markets. Manufacturing & Value Addition: Sunbeth Global Concepts said it is building large cocoa and cashew processing plants in Nigeria, a reminder of how agro-industrial projects can reshape supply chains feeding global buyers.