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- Kalshi CEO Praises Collisons, Miral Honors UAE Forces, and Iran Rolls Out New Rial Note
Kalshi CEO Praises Collisons, Miral Honors UAE Forces, and Iran Rolls Out New Rial Note
Monday, March 23, 2026
Happy Monday everyone!
This week, we highlight pivotal developments across entrepreneurship, national security, and economic policy. Tarek Mansour reflects on the Collison brothers’ impact on the tech and payments industry, while Mohamed Abdalla Al Zaabi commends the UAE’s armed forces for their professionalism amid regional tensions. Meanwhile, Iran introduces a 10 million rial banknote as inflation pressures intensify, underscoring the economic challenges arising from ongoing conflict. Together, these stories illustrate how leadership, strategic decision-making, and macroeconomic forces are shaping both regional and global business landscapes.
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 | 47,611.96 | Closed |
DFMGI | 5,550.24 | Closed |
ADX | 9,982.04 | Closed |
Tadawul | 10,946.26 | Closed |
“John and Patrick Collison Have Raised the Bar for All of Us” Kalshi CEO
What Is It About?
Kalshi CEO Tarek Mansour praised Stripe founders John and Patrick Collison as key inspirations behind his entrepreneurial journey. Speaking on Cheeky Ping, Mansour shared how studying their approach helped shape Kalshi, which recently achieved 11x revenue growth in six months and is building a platform dubbed the “New York Stock Exchange of events.”
Why it Matters?
The conversation highlights the growing influence of tech founders on the next generation of startups. Kalshi’s model turning real-world events into tradable markets, also signals a shift in how audiences engage with culture, from elections to the Oscars.
What’s Next?
As Kalshi expands, expect more innovation in prediction markets and potential regulatory battles, as the company pushes boundaries in finance, tech, and entertainment.
Binance Scores Second U.S. Legal Victory in Anti-Terrorism Act Case
Binance, the world’s largest cryptocurrency exchange, has secured a second major U.S. legal win in just two weeks, after a federal court in Alabama dismissed all claims against the company under the Anti-Terrorism Act. The court criticized the plaintiffs’ complaint as a “shotgun pleading,” citing its failure to clearly outline allegations or distinguish individual liability, and granted the plaintiffs until April 10, 2026, to amend the filing or risk dismissal.
This follows a similar victory in New York, reinforcing Binance’s defense against allegations of supporting terrorism. General Counsel Eleanor Hughes emphasized that the rulings reflect the need for legal rigour and evidence, and reiterated Binance’s commitment to compliance, transparency, and lawful operations. With these back-to-back wins, Binance strengthens its position in the U.S. legal landscape and signals its readiness to vigorously defend the platform and its community against unfounded claims.
Miral CEO Praises UAE Armed Forces
What Is It About?
Mohamed Abdalla Al Zaabi, Group CEO of Miral, expressed pride in the UAE’s armed forces following recent regional tensions. He praised their professionalism, readiness, and courage in protecting the nation, calling them “the shield” of the country.
Why It Matters?
Statements like these reflect strong national sentiment and unity, while also reinforcing the UAE’s image as a stable and secure hub, key for industries like tourism, entertainment, and large-scale events. Under Al Zaabi’s leadership, Miral continues to elevate destinations like Yas Island, making stability and security even more critical to growth.
What’s Next?
As regional dynamics evolve, the UAE is likely to continue investing in both defense and destination development, ensuring it remains a leading global hub for tourism, culture, and entertainment.
Iran Issues 10 Million Rial Banknote Amid Economic Strain
What Is It About?
Iran has introduced a new 10 million rial banknote, its highest denomination, as inflation surges during the ongoing war. The rollout comes as citizens face cash shortages and long ATM queues amid concerns over banking disruptions.
Why It Matters?
The situation reflects the real-life impact of economic crises on everyday people, a theme increasingly mirrored in global storytelling, films, and digital content. It also underscores how geopolitical tensions translate into financial instability.
What’s Next?
With inflation still high and structural challenges unresolved, further economic measures are likely, while the broader crisis may continue shaping both regional dynamics and global narratives.
👨💻From Smashi Business’ Desk
UAE is spending nearly $1 million to intercept one Iranian missile or drone
Abu dhabi’s MGX-backed OpenAI sees ChatGPT app uninstalls jump 295% in the US
UAE Successfully Intercepts Iranian Missiles, Naguib Sawiris Voices Support
CEO Mudassir Sheikha says the company’s top priority is the “safety of our captains”
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…
Gulf SWFs weigh private credit reward at a time of risk
Naguib Sawiris Rejects Funding Role in Conflict He “Did Not Agree To”
Iran attacks wipe out 17% of Qatar’s LNG capacity for up to five years, QatarEnergy CEO says
France Pledges to Double Humanitarian Aid to Lebanon
US approves $7 billion more in weapons for UAE, WSJ reports
FIFA Clears Israeli Settlement Clubs, Fines Israel FA Over Discrimination Breaches
🦄 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
🗓️ 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).
