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- G42 Hires AI Agents; Etihad Backs McLaren; Parkin Pushes Price Hikes
G42 Hires AI Agents; Etihad Backs McLaren; Parkin Pushes Price Hikes
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Saturday, February 28, 2026
Happy Saturday everyone!
G42 is redefining the future of work by opening recruitment for AI agents in enterprise roles, signalling a shift toward hybrid human-AI workforces. Meanwhile, Etihad Airways is expanding its global branding strategy through a new partnership with McLaren Racing, reinforcing Gulf aviation’s presence in Formula 1. At home, Parkin Company PJSCposted record earnings and is seeking another tariff increase, highlighting how mobility and smart-city monetisation are becoming key revenue engines in Dubai’s evolving economy.
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Etihad Airways Expands Motorsport Strategy With McLaren Racing Sponsorship Deal
What Is It About?
Etihad Airways has signed a sponsorship agreement with McLaren Racing, becoming an official partner of the McLaren Mastercard Formula 1 team and the McLaren United Autosports WEC Hypercar team from 2026 onward. The Abu Dhabi-based airline’s branding will appear on race cars and drivers’ helmets, extending its long-standing presence in global motorsport sponsorships.
Why It Matters?
The deal strengthens Gulf airlines’ growing influence in Formula 1 marketing and global sports branding. Abu Dhabi-backed CYVN Holdings and Bahrain’s Mumtalakat completed full ownership of McLaren Racing in 2025, aligning regional capital with international motorsport visibility and tourism promotion strategies linked to premium aviation brands.
What’s Next?
Etihad is expected to integrate the partnership into destination marketing and hospitality initiatives tied to Formula 1 events, including the Formula 1 Etihad Airways Abu Dhabi Grand Prix, which it has sponsored since 2009. The move comes as Gulf carriers deepen F1 involvement, alongside Qatar Airways, Saudia and Gulf Air expanding aviation-led sports partnerships.
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G42 Opens Recruitment Process For Artificial Intelligence Agents To Take Enterprise Roles
What Is It About?
Abu Dhabi-based AI company G42 has launched a recruitment programme for artificial intelligence agents to operate in enterprise roles across the organisation. AI agents can now apply to work within approved sovereign infrastructure, undergoing technical validation, performance testing, reliability checks and user-experience assessments before deployment.
Why It Matters?
The initiative signals a shift from AI tools to structured AI workforce integration. Agents must demonstrate governance compliance, enterprise reliability and measurable outcomes, with successful candidates entering a probation phase before scaling. The framework introduces performance reviews and value-linked compensation for developers, positioning AI systems as accountable contributors while maintaining human leadership and oversight.
What’s Next?
Selected AI agents will move into monitored enterprise environments where sustained performance will determine wider adoption. G42 says human accountability will remain central to decision-making as organisations experiment with hybrid workforces combining human talent and autonomous systems, potentially setting a regional benchmark for enterprise AI governance and workforce design.
DFM-Listed Parkin Posts Record Earnings And Seeks New Tariff Increase
What Is It About?
Parkin Company PJSC reported strong 2025 earnings and has requested approval to raise public parking tariffs again following last year’s price adjustments. The Dubai Financial Market-listed operator posted revenue of Dh1.32 billion (+43% YoY) and net profit of Dh625.5 million (+48%). Q4 profit rose 53% to Dh183.6 million, supported by higher hourly tariffs and growing paid parking usage across Dubai’s expanding urban network.
Why It Matters?
Dubai is increasingly monetising parking infrastructure as population growth and vehicle demand intensify pressure on city roads. Parkin manages 229,000 paid spaces and plans to add 5,500–7,500 more bays in 2026, potentially generating up to Dh610 million in additional revenue. Tariff increases signal a shift toward demand-based pricing and recurring municipal revenue streams, positioning parking as a scalable urban services sector tied to mobility management and smart-city planning.
What’s Next?
The Roads and Transport Authority is reviewing Parkin’s tariff proposal, including adjustments to seasonal card pricing aimed at closing pricing gaps. Further expansion of paid zones is expected alongside continued digitalisation of parking systems. Meanwhile, private operator Parkonic is simultaneously expanding app-based paid parking at Lulu Hypermarket locations, highlighting growing private-sector participation alongside Dubai’s listed public parking operator.
🦄 World of Startups
Stake Raises $31M Series B Led by Emirates NBD, Total Funding Hits $58M
US-based Luma AI is planting its flag in Riyadh — opening a regional headquater
Singapore's Ascentium continues its aggressive expansion, acquiring UAE legaltech pioneer Clara in a strategic Middle East play
Abu Dhabi is quietly becoming one of the most influential financiers of the global AI race, with its latest participation in Anthropic’s massive $30B funding round
Safqah Capital has just closed one of Saudi Arabia’s largest-ever seed rounds, raising $15.2 million in a deal that was four times oversubscribed
👨💻From Smashi Business’ Desk
HH Sheikh Khaled bin Mohamed bin Zayed met Indian Prime Minister Narendra Modi on the sidelines of the AI Impact Summit in New Delhi.
Humain, the artificial intelligence arm of the Public Investment Fund, invested $3 billion in xAI during its Series E round
Saudi Prince Alwaleed bin Talal’s combined stake across Elon Musk’s companies has reached an estimated $9.2 billion.
🔍In other news…
US exports to UAE accelerated in 2025, new data shows
Defence at centre of UAE and South Korea $65bn investment deals
Abu Dhabi Ship Building expects surge in military orders and sets AED3bn revenue target
Dubai awards $680m stormwater drainage contracts
Aramco launches two gas projects after crude export volumes rise
“Al Sharaa has acted prudently,” IMF glimpses rays of hope for Syrian economy in 2026 and beyond
🗓️ Plan Your Events (March-April 2026)
UAE
31 March - 2 April (Tuesday-Thursday): Arab Media Summit, Dubai.
26-28 March (Thursday-Saturday): Social Capital Conference, Dubai.
7-9 April (Tuesday-Thursday): Future Health Summit, Adnec Center Abu Dhabi.
13-15 April (Monday-Wednesday): AIM Congress, Dubai World Trade Center.
14-16 April: (Tuesday-Thursday): the International Property Show, Dubai World Trade Center.
Saudi Arabia
13-16 April (Monday-Thursday): Leap Tech Conference, Riyadh Exhibition & Convention Center - Malham.
20-22 April (Monday-Wednesday): Sports Investment Forum (SIF), Riyadh
Egypt
30 March – 1 April (Monday-Wednesday): Egypt International Energy Conference and Exhibition (EGYPES).
