- Smashi Business
- Posts
- MBC Streams Joy Awards; Salameh Case Heads to Top Court; US Sells First Venezuelan Oil
MBC Streams Joy Awards; Salameh Case Heads to Top Court; US Sells First Venezuelan Oil
Monday, January 19, 2026
Happy Monday everyone!
MBC Group secured exclusive broadcast and streaming rights for the Joy Awards 2026 in Riyadh, airing across its TV channels with HD streaming on Shahid, underscoring Saudi Arabia’s push to scale global entertainment. In Lebanon, prosecutors escalated the corruption case against former central bank governor Riad Salameh, transferring proceedings to the Court of Cassation over alleged $44.8 million embezzlement and offshore fund transfers. Separately, a Semafor exclusive revealed the Trump administration’s first $500 million Venezuelan oil sale, with proceeds held in US-controlled accounts, including one in Qatar, marking an unprecedented approach to managing Venezuela’s energy revenues.
What investment is rudimentary for billionaires but ‘revolutionary’ for 70,571+ investors entering 2026?
Imagine this. You open your phone to an alert. It says, “you spent $236,000,000 more this month than you did last month.”
If you were the top bidder at Sotheby’s fall auctions, it could be reality.
Sounds crazy, right? But when the ultra-wealthy spend staggering amounts on blue-chip art, it’s not just for decoration.
The scarcity of these treasured artworks has helped drive their prices, in exceptional cases, to thin-air heights, without moving in lockstep with other asset classes.
The contemporary and post war segments have even outpaced the S&P 500 overall since 1995.*
Now, over 70,000 people have invested $1.2 billion+ across 500 iconic artworks featuring Banksy, Basquiat, Picasso, and more.
How? You don’t need Medici money to invest in multimillion dollar artworks with Masterworks.
Thousands of members have gotten annualized net returns like 14.6%, 17.6%, and 17.8% from 26 sales to date.
*Based on Masterworks data. Past performance is not indicative of future returns. Important Reg A disclosures: masterworks.com/cd
MBC Secures Exclusive Streaming Rights for the Spectacular Joy Awards 2026
What’s it About?
MBC Group secured exclusive broadcast and streaming rights for the Joy Awards 2026, held on January 17 in Riyadh as part of Riyadh Season. The ceremony aired across MBC’s TV channels, with exclusive HD streaming on Shahid, reaching audiences across MENA and international markets.
Why it Matters?
Founded in 1991 by Waleed Al Ibrahim, MBC Group is now a Saudi-listed media company, owned 54% by the Saudi government and 36% by the Al Ibrahim family. Its revenues are driven by advertising, Shahid subscriptions, and content licensing across TV, streaming, and film. Securing high-profile live events strengthens Shahid’s scale and supports Vision 2030’s strategy to monetise culture through national media champions.
What’s Next?
The 2026 awards highlighted the convergence of culture, sport, and capital, with honourees including PSG president and beIN chairman Nasser Al-Khelaifi and actor Millie Bobby Brown. Future editions are likely to deepen this blend, reinforcing Riyadh’s rise as a centre for global entertainment and business influence.
Turning Fans into Stakeholders: Dsquares Forging the Future of Loyalty in Entertainment & Sports
Dsquares is revolutionizing how businesses connect with their audiences across entertainment, sports, and culture. Since 2012, this pioneering loyalty platform has been delivering end-to-end rewards solutions that go far beyond traditional points systems, transforming loyalty into meaningful, emotional engagement.
In an exclusive interview with Amr Henna, Managing Partner and Co-Founder on the Smashi Business Show, discover how Dsquares is redefining fan engagement in the UAE and across the region. At the heart of this evolution is a deep understanding of fan passion—the emotional investment that drives loyalty, advocacy, and long-term value. Through D’vote, Dsquares’ innovative fan engagement product, every interaction becomes a moment of participation, where everyone’s a winner. Fans are empowered to vote, engage, and feel heard, turning passive audiences into active contributors to the experience itself.
By capturing what fans care about most and rewarding engagement beyond transactions, Dsquares creates immersive, community-centric ecosystems powered by AI, analytics, and gamification—where loyalty is earned through emotion, not just incentives.
With a proven track record of helping brands boost engagement and retention through data-driven, personalized programs, Dsquares is expanding from the MEA region to serve clients worldwide.
Join us in exploring the future of fan engagement—and how platforms like D’vote are turning passion into participation.
Markets
EGX 30 | 43,984.77 | 1.74% |
DFMGI | 6,261.94 | -0.01% |
ADX | 10,123.26 | 0.663% |
Tadawul | 10,947.44 | 1.19% |
Lebanon Sends Riad Salameh Corruption Case to Top Court
What’s it About?
Lebanon has escalated its corruption case against former central bank governor Riad Salameh, transferring proceedings to the Court of Cassation, the country’s highest court. Prosecutors accuse Salameh and two lawyers of embezzling $44.8 million from a central bank consultancy account. Investigators also allege that around $330 million was routed between 2002 and 2015 through offshore firm Forry Associates, held at HSBC Switzerland. Salameh, released on $14 million bail, denies wrongdoing.
Why it Matters?
Salameh’s case has become a symbol of accountability after Lebanon’s 2019 financial collapse, which wiped out savings and crushed the currency. Once seen as a stabilising force, the former governor is now under multiple European investigations and sanctions by the US, UK and Canada. The case will shape investor confidence, international support talks, and trust in Lebanon’s financial governance.
What’s Next?
The Court of Cassation’s rulings are final and cannot be appealed. Failure to appear could trigger arrest warrants. European probes and asset freezes continue. Salameh argues the crisis stemmed from capital flight, telling Al Arabiya that “$6 billion was moved from Lebanon to Syria each year.”
US Sells First $500m of Venezuelan Oil, Parks Proceeds in Qatar
What’s it About?
According to a Semafor exclusive, the Trump administration has completed its first sale of Venezuelan oil, valued at $500 million, following the US ouster of former leader Nicolás Maduro earlier this month. Under the arrangement, the US is marketing Venezuelan oil and holding proceeds in accounts it controls — with a primary account located in Qatar, administration officials said. Some funds will also be held in US Treasury accounts. The White House described the deal as a milestone in its unprecedented management of Venezuela’s energy sector.
Why it Matters?
The move signals a dramatic shift in US energy diplomacy and sanctions enforcement, with Washington effectively acting as Venezuela’s oil broker while shielding revenues from creditors. Venezuela owes up to $170 billion to bondholders and oil firms, a key reason investors have avoided the country. Parking funds in Qatar, described by officials as a neutral jurisdiction, is already drawing scrutiny from US lawmakers concerned about oversight, legality, and corruption risks.
What’s Next?
US officials say more oil sales are expected, with companies like Chevron eyeing production increases of up to 50% within two years. However, legal challenges, congressional scrutiny, and questions over how revenues will be distributed back to Venezuelans — including refugees — remain unresolved and could shape the deal’s durability.
🦄 World of Startups
NVSSoft’s Tarasol Joins Elite Group with Saudi Accreditation Success
Halo AI Boosts Brand-Creator Collaborations, 118% Spike in Sales After Major Update
Oman’s eMushrif Secures $7.5M to Expand Smart Transport into Saudi and UAE
NEOM’s Level Up Backs Five Saudi Startups in Gaming Expansion Push
Wadi Jeddah and Pure Advance Join Forces to Boost Saudi Innovation Ecosystem
HSBC and Presight Forge AI Partnership to Revolutionise Banking in UAE
👨💻From Smashi Business’ Desk
UK Billionaire John Fredriksen Finally Spotted in Dubai, Hosted by DMCC Boss
Mona Kattan has shared a message of solidarity with the people of Iran
Egypt’s $35B Gas Deal with Israel Faces Uncertainty as New Clauses Favor Israeli Supply
Uber’s Khosrowshahi: Major Companies Will Invest Aggressively in Iran After Regime Change
Tunisian Filmmaker Zoubeir Jlassi Wins $1M AI Film Award at 1 Billion Followers Summit
🔍In other news…
UAE’s Al Masraf Appoints Banks for First 5-Year Dollar Bond Issuance
OpenAI Teams Up With Middle East-Backed Cerebras in Strategic AI Deal
L’imad Holding Seen as Abu Dhabi’s Fourth Investment Pillar, Analysts Say
Arabic.AI Partners With Replit to Launch Free Arabic Coding Courses
Alabbar Revives Armani Hotel Venture Through New Investment Platform
