Happy Monday everyone!

Commercial air services resumption, multi-billion-euro healthcare buyouts, and domestic energy supply chain localization lead regional business headlines. King Khalid International Airport in Riyadh reopened passenger terminals following disruptions from recent missile and drone strikes, with Riyadh Air routing select international flights through Al-Qassim Airport. In European private equity, the Abu Dhabi Investment Authority (ADIA) joined Swedish investment manager EQT to take molecular testing specialist Qiagen private in a EUR 10.8 billion ($12.1 billion) buyout. Meanwhile, state energy producer ADNOC unveiled more than AED 60 billion ($16.3 billion) in manufacturing contracts through 2030, cutting supplier registration times to a single day.

Markets

Riyadh Airport Restores Flights Following Disruptions as Regional Routes Shift to Al-Qassim

🔹 What Is It About 

King Khalid International Airport in Riyadh reopened passenger operations on Sunday, October 25, resuming domestic travel through Terminal 1 and flag-carrier international departures via Terminal 2. The phased return follows temporary flight suspensions caused by recent regional missile strikes. To maintain scheduled travel, Riyadh Air rerouted international departures bound for London, Dhaka, Cairo, and Pakistan through Al-Qassim Airport in Buraidah, roughly three and a half hours north by road.

• Reopening Core Terminals: King Khalid International Airport restored domestic travel in Terminal 1 and flag-carrier flights in Terminal 2.

• Activating Regional Airports: Riyadh Air rerouted select long-haul international departures to Al-Qassim Airport in Buraidah.

• Managing Travel Safety: Authorities advised passengers to confirm bookings directly with carriers before traveling to departure halls.

🔹 Why It Matters 

Reopening Riyadh's primary airport restores crucial air connectivity for corporate travelers, government delegations, and commercial cargo. Using regional hubs like Al-Qassim provides alternate transport capacity, preventing bottlenecks while terminal facilities return to full schedule. The quick resumption of flights helps reassure international airlines and insurers that civilian aviation can continue operating safely under enhanced air defense monitoring.

🔹 What’s Next 

Airport authorities will coordinate with foreign international carriers to finalize schedules before reopening Terminals 3 and 4. Aviation security teams will continue monitoring flight corridors across central and western Saudi provinces to protect civilian aircraft.

• Maintaining Corridor Checks: Air traffic teams will conduct continuous security assessments on incoming flight paths.

RAKIS 2026 Set for November 11–12

Less than a month remains until RAKIS 2026 brings investors, developers, government leaders and business executives to Ras Al Khaimah.

The summit, taking place on November 11–12 at the RAK Exhibition Centre, will focus on investment opportunities and partnerships across real estate, infrastructure, tourism, technology and sustainable development.

The event aims to connect decision-makers and industry experts to discuss the opportunities shaping the emirate’s next phase of economic growth.

Organisers are inviting delegates to register for a free pass ahead of the event.

Register for your free delegate pass here.

ADIA Co-Invests in EQT’s EUR 10.8B Takeover of Diagnostics Firm Qiagen

🔹 What Is It About 

The Abu Dhabi Investment Authority (ADIA), through its subsidiary Luxinva, joined EQT and CPP Investments to take Dutch testing firm Qiagen private in an all-cash purchase valuing the enterprise at EUR 10.8 billion ($12.1 billion). The group offered EUR 46.50 per share, representing a 40.3% premium over undisturbed market prices from early July. Qiagen's managing and supervisory boards voted unanimously to back the bid, establishing a minimum acceptance threshold of 50% plus one share.

• Targeting EUR 10.8B Buyout: ADIA and CPP Investments backed EQT's public-to-private takeover of the diagnostics firm.

• Paying 40.3 Percent Premium: The EUR 46.50 per share offer represents a substantial markup over pre-leak equity prices.

🔹 Why It Matters 

Backing major take-private buyouts allows ADIA to deploy capital into non-cyclical healthcare and molecular diagnostics companies. The acquisition reflects ADIA’s move to increase its long-term private equity allocation range up to 20%. Partnering with EQT expands collaboration between European buyout firms and Gulf sovereign funds as global managers grow their permanent presence in Abu Dhabi.

• Growing Private Equity Allocations: The acquisition supports ADIA's updated strategy of backing large public-to-private takeovers.

• Funding Life Sciences: Qiagen provides recurring income by supplying testing kits and software to 500,000 global laboratory clients.

🔹 What’s Next 

German financial regulator BaFin must approve the formal offer document before the public acceptance period opens. The investor group expects to finalize merger-control clearances and foreign investment reviews to complete the transaction by mid-2027.

Vault Wealth Founder Bilal Abou-Diab: Why Investors Should Focus on the Long Term

Bilal Abou-Diab, founder of Vault Wealth, an Abu Dhabi-based digital private wealth management platform, has emphasised the importance of long-term investing, diversification and financial planning in preserving wealth amid global market volatility.

Speaking on the Smashi Business Show, Abou-Diab discussed the changing wealth landscape across the UAE, the limitations of traditional banking and the importance of providing investors with independent financial advice.

He highlighted the differences between Abu Dhabi and Dubai, noting that Abu Dhabi is home to major sovereign wealth funds and offers a family-friendly lifestyle, while Dubai attracts investors and entrepreneurs drawn to real estate, trade and its fast-paced business environment. Both cities continue to appeal to affluent expatriates seeking security and a high quality of life.

Abou-Diab said he founded Vault Wealth after observing that traditional banks often prioritise selling financial products over providing genuine advice, leaving high-net-worth individuals underserved. The platform focuses on financial planning, gap analysis and independent advisory services to help clients achieve their long-term financial goals.

Discussing investment strategies, he advocated diversification and a long-term outlook over short-term speculation. While artificial intelligence-related developments and geopolitical tensions can create volatility in global markets, he said company earnings remain a key driver of long-term market growth.

He also highlighted the role of productive assets, including global equities, infrastructure and real estate, in building and preserving wealth, contrasting them with assets such as gold and cryptocurrencies. However, he noted that younger investors may be better positioned to take on higher risks early in their careers.

Addressing regional conflicts, Abou-Diab pointed to the resilience of markets and continued business growth, attributing confidence in the region partly to trust in local leadership.

Looking ahead, Vault Wealth plans to expand into estate planning and contribute to modernising private wealth advisory services globally.

👨‍💻From Smashi Business’ Desk

• Dubai-born fragrance brand KAYALI will enter China on October 15.

• Saudi-born dining platform SPICE has ruled out offering cashback on shisha or alcohol at partner restaurants as it keeps its rewards model aligned with Islamic principles.

• Uber will invest $50 million in Jordan over the next three years, targeting the country’s mobility ecosystem while supporting economic opportunities, tourism and access.⁠

• Dubai Crown Prince HH Sheikh Hamdan just shared his Etihad Rail ticket on Snapchat as Dubai-Abu Dhabi passenger services prepare to launch on September 30.

🔍In other news…

• Jared Kushner Rejects Explosive Vanity Fair Allegations, Dismisses Report as ‘Fantasy and Fiction’

• British Billionaire Richard Desmond Overhauls $1.5 Billion Fortune After Relocating to Dubai

• Saudi Dairy Giant NADEC Reports 72.5% Drop in Third Quarter Profit Amid Rising Costs

• Qatar’s Snoonu Buys US Startup BiteSight to Bring Social Commerce to Gulf Food Delivery

🦄 World of Startups

• Echelon: Riyadh AI firm Echelon names East40, RAED Ventures, Avra and Ben Horowitz as backers.

• MNT-Halan: MNT-Halan prices its EGX IPO at EGP 24.50 per share, valuing the 20% stake at EGP 7.84 billion.

• Project Suppliers: Saudi platform Project Suppliers raises $1 million in pre-seed funding to develop AI cash-flow tools.

• MoneyHash × VaultsPay: MoneyHash merchants can now accept VaultsPay’s UAE card and wallet payments without separate integration.

• TiE Women MENA: Five startups win regional TiE Women MENA tracks and advance to the GITEX Global final.

• Sheraa × Nestlé UAE: Sheraa, Nestlé UAE, MAJRA and UAE Food Cluster launch a three-month programme for young founders.

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