- Smashi Business
- Posts
- Saudi Nears $55B EA Deal, Malaysia Backs Bin Sulayem, Iraq Signs Starlink Agreement
Saudi Nears $55B EA Deal, Malaysia Backs Bin Sulayem, Iraq Signs Starlink Agreement
Sunday, July 19, 2026
Happy Sunday everyone!
This week, Saudi Arabia moved closer to adding gaming giant Electronic Arts to its growing entertainment empire, Malaysia defended its hands off approach after Sultan Ahmed bin Sulayem took over MMC Port, and Iraq signed a landmark agreement with Starlink as part of a broader push to attract billions in international investment. Three stories highlighting how the region is accelerating its ambitions across technology, logistics and digital infrastructure.
Markets
EGX30 | 52,928.06 | Closed |
DFMGI | 5,967.43 | Closed |
ADX | 10,265.49 | Closed |
Tadawul | 10,720.28 | Closed |
Iraq Just Signed a Deal With Starlink to Launch Its Satellite Internet Services
What Is It About
Iraq has signed an official agreement allowing Starlink to operate in the country, expanding access to satellite internet as part of a wider investment push with United States companies. The agreements, worth more than $60 billion, also include energy projects involving Chevron and ConocoPhillips, alongside plans for JPMorgan to open a local branch.
Why It Matters
Starlink could improve connectivity across remote and underserved areas where traditional telecom infrastructure remains limited. The broader package also signals Baghdad’s effort to attract Western capital, modernise infrastructure and diversify economic partnerships. Energy deals, including rehabilitation of the Iraq Syria pipeline, could eventually give Iraq another export route beyond the Strait of Hormuz.
What’s Next
Attention will turn to when Starlink services become commercially available, expected pricing and regulatory conditions. Investors will also watch whether the preliminary energy agreements progress into final contracts. Prime Minister Ali al Zaidi said Iraq is pursuing an “open door policy” for international companies, though implementation will determine whether the announcements translate into sustained investment.
Malaysia Says It Will Not Interfere After Bin Sulayem Takes Helm at MMC Port
What Is It About
Malaysia has said it does not interfere in company management after former DP World chairman Sultan Ahmed bin Sulayem was appointed chairman of MMC Port Holdings, the country's largest port operator. Transport Minister Anthony Loke said the government's role is limited to overseeing ownership structures for companies managing strategic national assets, not executive appointments.
Why It Matters
MMC Port operates seven ports on or near the Strait of Malacca, one of the world's busiest shipping lanes. Bin Sulayem's appointment brings one of the global ports industry's most experienced executives into a critical regional logistics network. The government's response also reinforces Malaysia's commitment to allowing commercial decisions at major infrastructure companies while maintaining oversight of strategic ownership.
What’s Next
Markets will watch whether Bin Sulayem introduces operational changes or expansion plans at MMC Port after his long tenure at DP World. Investors will also monitor how the company positions itself as Southeast Asian trade volumes grow and competition among regional ports intensifies.
Saudi Arabia Closes In on $55 Billion Electronic Arts Deal
What Is It About
Saudi Arabia is nearing one of the biggest gaming acquisitions ever, with European Union regulators expected to approve a $55 billion takeover of Electronic Arts this month. Reuters reported the deal, backed by investors including the Public Investment Fund, Affinity Partners and Silver Lake, is set to receive unconditional clearance under both EU merger and foreign subsidy rules.
Why It Matters
The acquisition would significantly expand Saudi Arabia's ambitions to become a global gaming powerhouse. It follows a string of major investments through Savvy Games Group, including the acquisitions of Scopely, Niantic's games business, and Turkish developer Loom Games. Adding franchises such as The Sims, EA Sports FC, Battlefield, Apex Legends and Need for Speed would strengthen the Kingdom's position across console, PC and mobile gaming.
What’s Next
EU approval is expected on July 22, potentially clearing one of the final major regulatory hurdles. Attention will then shift to how Saudi investors integrate Electronic Arts into their expanding gaming portfolio and whether further acquisitions follow as the Kingdom accelerates its long-term digital entertainment strategy.
Smashi Business Exclusive: Al Haboob Racing Founders On Turning Camel Racing Into A Global Franchise Model
Ahmed Al Haboob and Safwan Modir, founders of Al Haboob Racing, spoke on Smashi Business about building the world’s first professional camel racing team in Saudi Arabia. They explained how they are transforming a traditional, individual sport into a structured, franchise-style model inspired by Formula 1, with teams, sponsorships and long-term commercial value.
The founders discussed leaving corporate careers during the pandemic to pursue entrepreneurship in a “virgin” sports market, despite high operational risks tied to livestock performance. They also highlighted media ventures like their Netflix series Camel Quest, partnerships including Paul Pogba, and their vision to modernize the sport using data and technology.
👨💻From Smashi Business’ Desk
Dreamers: Meet Qatar’s Nasser Al-Khelaïfi, President and CEO of French Giants Paris Saint-Germain.
Dreamers: Meet Moutaz and Ramez Al Khayyat, Qatari Syrian billionaire brothers built one of the Middle East biggest private business empires after relocating to Qatar during the Syrian civil war.
Oil prices erased most of their early gains after the US and Iran agreed to pause attacks and resume talks over the Strait of Hormuz.
Tabby has apologised after mistakenly telling UAE customers they had won an Emirates flight voucher before later admitting the email "was sent in error."
Ben & Jerry Israel has launched what it calls its “most Israeli flavor ever.”
🔍In other news…
🦄 World of Startups
Rentify Raises USD 2 Million Seed Round to Launch Earn AI
CNTXT AI Closes $60M Series A to Deploy Sovereign AI Globally
Blnk Raises $37 Million to Expand Consumer Finance Services in Egypt
Saudi-based Pickappo Closes SAR 2 Million Pre-Seed Funding Round
Three Dubai entrepreneurs have raised AED 10 million for DRBY, a startup seeking to modernise education payments across the UAE through a unified digital platform.
Dubai-based Algebra AI nets $7 million funding to serve mid-market
Moroccan Proptech Startup Agenz Raises $5M to Build Property Data Infrastructure and Transaction Tools Tailored for Local Market
Calo, Bahrain-based meal subscription platform, expanded operations and full suite of services to Oman
