Happy Tuesday everyone!

Prince Khaled bin Alwaleed has sharply criticized Meta for ignoring online scams targeting vulnerable Gulf residents, calling for stronger regulatory action. Meanwhile, Michael Page’s 2026 UAE Salary Guide reveals that nearly half of UAE professionals attempted salary negotiations in 2025 — but only 15% succeeded, reflecting rising competition in the job market. And in a bold digital move, Riyadh Season has launched an immersive virtual world on Roblox, extending its cultural experience to a global audience of gamers.

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Markets

Prince Khaled to Arabian Business About Meta: “They Are Only Here To Profit”

🔹 What Is It About

HRH Prince Khaled bin Alwaleed bin Talal Al Saud has accused Meta of failing to act against online scams targeting vulnerable Gulf residents. Dozens of fraudulent Facebook and Instagram accounts have impersonated his sister, HRH Princess Reem bint Alwaleed, soliciting small investments from unsuspecting victims. While platforms like Snap and X swiftly removed fake accounts, Meta has remained “completely silent” despite receiving a detailed dossier of fraudulent activity.

🔹 Why It Matters

The allegations highlight growing frustration over how global tech platforms handle scams in the GCC. Prince Khaled says Meta prioritises sales over user safety, with no meaningful trust and security investment in the region. Former Meta MENA policy head Ashraf Zeitoon echoed these concerns, saying the company has the resources to tackle fraud but lacks the will. The issue underscores broader questions around platform accountability and consumer protection.

🔹 What’s Next

Prince Khaled has urged UAE and Saudi regulators to investigate how social media companies handle fraud in the Gulf, calling for greater accountability and tighter controls. He says Meta’s “take-take-take” approach must end, pressing for stronger regulatory oversight to safeguard citizens. Meta, which posted $62.36 billion in 2024 profits, did not respond to a request for comment.

Sharjah to Host Landmark SIF 2025 and World Investment Conference

The 8th edition of the Sharjah Investment Forum (SIF 2025) will take place on October 22–23, 2025 at the Jawaher Reception and Convention Centre, running alongside the World Investment Conference, which Sharjah is hosting for the first time. Under the theme “Transforming Our World: Investing for a Resilient and Sustainable Future,” the forum will gather 130+ global speakers, 142 country delegations, and 30+ international organizations. Discussions will focus on sustainable investment, smart cities, AI-driven manufacturing, food security, and digital transformation. SIF 2025 cements Sharjah’s role as a global hub for innovative, sustainable, and future-ready investment strategies.

Nearly Half Of UAE Professionals Attempted Salary Negotiations In 2025 — But Only 15% Succeeded

🔹 What Is It About

Michael Page Middle East’s 2026 UAE Salary Guide reveals a striking drop in successful salary negotiations, with only 15% of professionals achieving better pay in 2025 — down from 24% the previous year. The report attributes this to intensified competition from an influx of international talent and rising caution among employees. The guide offers comprehensive salary benchmarks across key industries and introduces a new interactive tool for faster access to market insights.

🔹 Why It Matters

The data highlights a shifting employment landscape in which salary transparency is becoming critical. As competition grows, professionals need clearer benchmarks to negotiate effectively, while employers require reliable data to craft competitive offers. This transparency is key to both attracting and retaining top talent in the UAE’s increasingly dynamic job market.

🔹 What’s Next

With nearly two-thirds of professionals open to switching jobs in 2026, the report underscores the importance of strategic, transparent compensation practices. Employers are being urged to look beyond pay — addressing work-life balance and career growth — to remain competitive, while professionals can leverage the Salary Guide to make more informed career moves.

Riyadh Season Launches Interactive Virtual Experience On Roblox

🔹 What Is It About

Riyadh Season has officially launched a collection of immersive entertainment experiences on Roblox starting October 20, marking a major step in bringing the Saudi mega-event to a global gaming audience. The virtual world recreates iconic destinations such as Boulevard City and Boulevard World, offering players interactive adventures like hot air balloon rides, dinosaur climbs, cable car tours, and cultural experiences inspired by cities including Paris, Italy, Kuwait, and South Korea.

🔹 Why It Matters

The launch reflects Riyadh Season’s ambition to merge physical and digital worlds, expanding access to millions worldwide. Roblox, with its vast young user base, provides a powerful platform to showcase the event’s attractions far beyond Saudi Arabia. Players can engage in themed mini-games, treasure hunts, and exclusive Riyadh Season virtual merch, creating new pathways for cultural exchange and entertainment.

🔹 What’s Next

The virtual world will evolve throughout the season with continuous updates and new attractions. Highlights include the launch of Beast Land by MrBeast, a boxing game simulating global bouts, and major competitions with prizes. Developed with The Gang, a global leader in branded gaming experiences, this initiative positions Riyadh Season at the cutting edge of immersive, interactive entertainment.

👨‍💻From Smashi Business’ Desk

• Sinner Wins $6 Million at Six Kings Slam in Riyadh as Saudi Sports Investments Hit New Heights.

• UAE’s Hadban Twins Among First 25 Creators Honoured With Instagram Rings in New York.

• Turki Al-Sheikh Teases ‘Big Surprises’ With Shah Rukh Khan, IShowSpeed, and Global Stars Following $1.07B Entertainment Deals.

• Uptown Dubai has officially sold out, DMCC Chairman announced.

• Saudi Arabia’s SSC Channels Go Off Air After Losing Football Rights to Thmanyah.

• Dubai-based Huda Beauty founder Huda Kattan condemned Israeli forces after reports of Greta Thunberg’s mistreatment in detention, calling them “sick people” in a strongly worded Instagram post.

🔍In other news…

• Dubai Airports IPO would be 'successful' if shares were listed, CEO says

• Internet outage in UAE: How AWS disruptions hit popular apps

• Arabic AI startup Nanovate secures $2 million pre-seed to scale in GCC

• UAE’s CADO raises $4.5M to scale premium gifting platform

• Sharjah Day in London highlights emirate’s global innovation drive

• Mubadala Capital in talks to buy US billboard operator

• Real estate deals in Sharjah up 58% to $12bn

• Saudi Arabia’s $320 Billion Pension Fund Names Ex-Banker as CEO

• Amazon Web Services confirms global recovery after outage impacts UAE users

• DIFC hits 8,000+ companies, $240 billion banking assets for Dubai hub

• Dubizzle reports 46% EBITDA margins ahead of November IPO

🏦 Crypto Corner

• New tax rules may reshape UAE crypto landscape

• Crypto data reveals UAE has mined bitcoins worth $700m

• Michael Saylor — Executive Chairman of MicroStrategy and one of Bitcoin’s most vocal corporate advocates — will make his first-ever appearance in the UAE at Bitcoin MENA in Abu Dhabi.

• Hut 8, part of a American BTC which is partially owned by Donald Trump Jr. and Eric Trump, Gets Approval to Operate in Dubai Financial Hub.

• Abu Dhabi Judicial Department now accept AE Coin.

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