- Smashi Business
- Posts
- Israel Strikes Iran; Trump Bans Anthropic; Saudi Funds Yemen
Israel Strikes Iran; Trump Bans Anthropic; Saudi Funds Yemen
Sunday, March 1, 2026
Happy Sunday everyone!
On Saturday (February 28), Israel launched an unprovoked strike on Iran, with the United States confirming its involvement, marking a sharp escalation after weeks of nuclear negotiations. President Trump ordered federal agencies to halt use of Gulf-backed Anthropic’s AI following a dispute over a $200 million Pentagon contract. Kalshi fined and suspended a MrBeast editor over insider trading on its $11 billion prediction platform. Separately, Saudi Arabia provided $346.6 million to address Yemeni government salary shortfalls.
In the wake of these developments, we hope everyone stays safe. At this critical moment, it is essential to remain united and follow guidance issued by official authorities. We will continue providing verified updates as they unfold.
Markets
EGX30 | 49,212.83 | Closed |
DFMGI | 6,578.94 | Closed |
ADX | 10,545.99 | Closed |
Tadawul | 10,709.04 | Closed |
US, Israel Attack Iran — Summary
The US and Israel launched coordinated strikes on Iran, with explosions reported in Tehran.
President Trump said the US has begun “major combat operations,” describing it as a planned multi-day military campaign.
Iran retaliated with missile fire toward Israel.
The UAE intercepted two waves of Iranian attacks; one Pakistani civilian was killed by falling shrapnel.
The UAE condemned the strikes and warned of “grave consequences.”
Bahrain, Kuwait and Qatar confirmed intercepting Iranian missiles. Each hosts a US military base.
Several countries across the region have closed airspace amid the escalation.
Saudi Arabia condemns attacks on Bahrain, Qatar, Jordan and Kuwait.
Multiple airlines suspended flights to Iran, Israel and Iraq. Some Dubai flights were cancelled or rerouted. Emirates temporarily suspended select operations.
Iran’s National Security Council urged residents to leave Tehran.
Saudi Arabia Injects $346.6M to Stabilise Yemen’s Public Sector Payroll
What Is It About?
Saudi Arabia has provided $346.6 million (SAR 1.3 billion) to address a significant salary shortfall for Yemeni government employees, according to the Saudi Program for Development and Reconstruction of Yemen. The payment was issued under directives from King Salman and Crown Prince Mohammed bin Salman. Yemeni Presidential Leadership Council chairman Rashad Al-Alimi described the move as an extension of the Kingdom’s longstanding support.
Why It Matters?
The funding underscores Riyadh’s continued financial role in stabilising fragile regional economies. Public-sector salary payments are critical to maintaining basic state functions, limiting social unrest, and preserving institutional continuity in Yemen. It also signals Saudi Arabia’s broader strategy of pairing diplomacy with fiscal intervention across conflict-affected states.
What’s Next?
Saudi Arabia has previously coordinated with Qatar to fund Syrian public salaries and settle roughly $15 million in Syrian debt to the World Bank. Analysts will watch whether similar structured financial support expands across the region.
Trump Bans US Agencies From Using Anthropic AI
What Is It About?
President Donald Trump has ordered all federal agencies to immediately cease using Anthropic’s AI systems, escalating a dispute over a $200 million Pentagon contract. The Defense Department had demanded broader access to Anthropic’s Claude model for “all lawful purposes.” The company refused, citing concerns over potential mass surveillance and autonomous weapons use.
Why It Matters?
The move places a leading frontier AI firm at the center of a national security clash, raising questions about government control over private AI systems. It also comes after Anthropic’s $30 billion Series G raise at a $380 billion valuation, backed by Abu Dhabi’s MGX and Qatar’s QIA — underscoring geopolitical sensitivities around Gulf capital in US defense-linked technology.
What’s Next?
The Pentagon’s push to label Anthropic a national security risk could trigger legal battles and procurement shifts. The case may set a precedent for how US defense agencies negotiate control over advanced AI platforms.
Kalshi Fines MrBeast Editor in First Insider Trading Case
What Is It About?
Kalshi, the $11 billion prediction market that facilitates gambling on news events, has fined and suspended a MrBeast video editor for insider trading. Artem Kaptur was fined over $20,000 and banned for two years after allegedly trading on non-public information. A former California governor candidate was also banned for betting on his own campaign.
Why It Matters?
Prediction markets have surged in popularity, attracting hundreds of millions in wagers on political and media events. Kalshi’s enforcement action signals growing pressure to police misconduct as regulatory scrutiny intensifies and concerns over market integrity mount.
What’s Next?
Kalshi, founded by Lebanese-American entrepreneur Tarek Mansour, says it has opened more than 200 investigations in the past year. Further enforcement could shape how regulators treat prediction markets as they move closer to mainstream finance.
🦄 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 Successfully Intercepts Iranian Missiles, Naguib Sawiris Voices Support
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…
DMCC Unveils Intellectual Property Framework to Lift Valuations Across 26,000 Member Firms
Gulf-Backed OpenAI Raises $110 Billion From Amazon, NVIDIA and SoftBank
Syria’s Central Bank Launches Reform Review With U.S. Consultant to Restore Global Credibility
ADIA in Investment Talks With Bezos-Led Project Prometheus
Saudi Reserves Climb to Highest Since 2022 on Oil, Debt Sales
🗓️ 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).
