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- Gulf-Backed WBD Takeover Gets Green Signal; Drone Strikes Hit AWS; UAE Markets Reopen
Gulf-Backed WBD Takeover Gets Green Signal; Drone Strikes Hit AWS; UAE Markets Reopen
Wednesday, March 4, 2026
Happy and Safe Wednesday everyone!
The unprovoked joint attack by US and Israel on Iran has entered another day and oil and gas prices are touching new highs: Brent Crude traded between $83 and $85, while European gas futures were up around 45–50% in a day, with Asian LNG prices jumping roughly 35–40%.
For our main stories, Amazon is feeling unlucky in the Middle East at the moment with the shutdown of centre in Abu Dhabi and two out of three data centres not functioning at full capacity till Tuesday evening. UAE Markets are reopening today including DFM, ADX and Nasdaq Dubai. And, Gulf-backed Paramount takeover of WBD may not face any FCC hurdles.
Interesting take: UK politicians calling Dubai expats 'tax exiles' who don't pay their taxes? One British exec isn't having it.
In the wake of developments in the region, we hope everyone stays safe. At this critical moment, it is essential to remain united and follow guidance issued by official authorities from your country.
Markets
EGX30 | 47,725.81 | 2.03% |
DFMGI | 6,578.94 | Closed |
ADX | 10,545.99 | Closed |
Tadawul | 10,565.74 | 0.73% |
Drone Strikes Disrupt AWS Data Centres In UAE And Bahrain, Knocking Banks And Major Apps Offline
What Is It About?
AWS reported that three cloud facilities in the Middle East were damaged or disrupted by drone strikes linked to the Iran–US/Israel conflict, including two data centres in the UAE (ME‑CENTRAL‑1) and one in Bahrain (ME‑SOUTH‑1). Power was cut to at least one UAE facility after “objects” hit the building, causing sparks and fire, which led to a prolonged regional outage and high error rates across core AWS services such as EC2, S3, DynamoDB, Lambda, Kinesis, CloudWatch, RDS, and the AWS Management Console/CLI. AWS advised customers to fail over to other availability zones or regions while it worked on restoring the two heavily impacted UAE zones and the affected Bahrain facility.
Who Was Affected?
Abu Dhabi Commercial Bank (ADCB) – Mobile banking app, some platforms and contact centre down; customers had to use internet banking, branches, ATMs and WhatsApp instead.
First Abu Dhabi Bank (FAB) – Technical issues affecting internet and mobile banking services.
Emirates NBD – Intermittent disruptions to digital banking services, potentially linked to the outage.
Other UAE financial institutions – Temporary disruptions to mobile apps, contact centres, and card issuance/reload services.
Snowflake – Major incident in AWS Middle East (UAE); users unable to sign in, run queries or manage data, dependent on cloud provider power restoration.
Snowflake status page (INC0152681) – Confirms customers in AWS Middle East (UAE) region had significant disruption due to a third‑party power outage.
ADCB retail‑banking app – “Entire digital banking ecosystem” reportedly offline: app, internet banking and payment services unavailable for many users.
Talabat – Severe problems with order tracking, delivery updates and rider allocation.
Noon – App loading failures, checkout errors and broken delivery tracking for many users.
Careem – Food‑delivery features hit by long wait times, app crashes and payment issues; ride‑hailing only partially available.
Deliveroo – Delays in order processing and live order tracking.
What’s Next?
AWS continues restoring power, cooling and connectivity to the stricken availability zones and assessing data and infrastructure health before full service is resumed.
More for Amazon
Amazon has suspended deliveries and shut its fulfillment center in Abu Dhabi as regional tensions disrupt operations across the Middle East, as per a Business Insider report. Customers are facing delays, employees in parts of the region have been told to remain indoors, and remote work has been activated.
UAE Markets Set To Reopen As DFM, ADX And Nasdaq Dubai Resume Trading After Security-Driven Pause
What Is It About?
Trading will resume on Wednesday at the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market, and Nasdaq Dubai after a two-day halt. UAE regulators suspended markets on March 2–3 following Iranian missile and drone strikes, pausing trading in billions of dollars of listed assets as a precaution.
Why It Matters?
The suspension reflected heightened regional tensions that disrupted normal financial activity and dampened investor confidence across Gulf markets. Restarting trading is key for liquidity and investor sentiment, especially as the UAE markets are among the largest in the Middle East. A smooth reopening could signal stability amid geopolitical uncertainties.
What’s Next?
Regulators including the UAE Capital Markets Authority and Dubai Financial Services Authority will continue closely monitoring developments to protect investors and may take further action if needed. Market participants will be watching price moves and trading volumes after the extended pause.
FCC Signals No Block On Gulf-backed Paramount’s $110 Billion Warner Bros Deal
What Is It About?
U.S. Federal Communications Commission Chair Brendan Carr has indicated the agency is unlikely to block Gulf-backed Paramount’s proposed $110 billion acquisition of Warner Bros, according to the Financial Times. Carr downplayed competition concerns around combining CBS and CNN, calling the market impact “drastically different” from other recent media tie-ups. He also said foreign debt tied to the deal would likely qualify for a swift regulatory review under FCC rules.
Why It Matters?
The merger would reshape the U.S. media landscape, creating a powerful content and broadcast giant at a time of rapid industry consolidation. Lawmakers from both parties have warned the deal could reduce consumer choice and push up prices, while cinema operators fear job losses and fewer theatrical releases. Carr’s remarks suggest regulators may take a more permissive stance, potentially easing the path for further consolidation.
What’s Next?
The deal, financed through equity from the Ellison family and RedBird Capital Partners alongside major debt commitments from leading banks, now faces formal regulatory review. While the FCC appears open to approval, political scrutiny and industry opposition could intensify. Paramount, Warner Bros and regulators are expected to engage in detailed filings and consultations in the coming months as the transaction moves toward a final decision.
Gulf Involvement and Funding
Paramount has indicated that part of the financing will involve sovereign wealth funds from Gulf states, with reports suggesting around $24 billion of the total backing could come from Saudi Arabia’s Public Investment Fund, Qatar’s Investment Authority and Abu Dhabi’s L’Imad as part of the consortium supporting the takeover.
🦄 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
UAE is spending nearly $1 million to intercept one Iranian missile or drone
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Khalaf Al Habtoor: “Dubai Remains One of the Safest Destinations on Earth”
'Cancel ChatGPT': Sam Altman Under Fire for Pentagon Deal as US Attacks Iran
🔍In other news…
Gas prices soar as QatarEnergy halts LNG production after Iran attacks
UAE’s pandemic response a good test case for current crisis, executive says
No confirmed call, no entry: Dubai Airports warns travellers
Abu Dhabi confirms drone debris fall in industrial area and Mussafah
Strait of Hormuz escalation rattles global shipping with war levies and insurance cover cuts
🗓️ 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).
