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Aramco Eyes US LNG Deals; Karen Wazen Expands to Egypt; PIF Weighs Aston Martin Move
Sunday, November 16, 2025
Happy Sunday everyone!
Saudi Aramco is preparing to sign two major U.S. LNG deals with Woodside Energy and Commonwealth LNG during the crown prince’s Washington visit, securing up to 4 mtpa of supply; Dubai-based Lebanese influencer Karen Wazen will expand her eyewear brand into Egypt with Baraka Group, rolling out up to 16 boutiques from early 2026 after strong demand; and Aston Martin has reportedly held early talks with Saudi Arabia’s PIF about a potential privatisation, despite the carmaker denying ongoing discussions as it faces a 27% Q3 revenue drop and widening losses.
But before that: For quick daily updates, follow us on Instagram, and you can watch our Smashi Business Show live every weekday from 10AM onwards (UAE time). Also, you can join our Whatsapp channel to receive updates from the business world.
Markets
EGX 30 | 40,250.94 | Closed |
DFMGI | 5,991.16 | 0.84% |
ADX | 9,917.90 | 0.434% |
Tadawul | 11,205.37 | Closed |
Saudi Aramco Expected to Sign Major US LNG Deals During Crown Prince’s Washington Visit
What It’s About?
Saudi Aramco is set to sign two significant U.S. liquefied natural gas (LNG) agreements during Crown Prince Mohammed bin Salman’s visit to Washington next week, according to sources who spoke to Reuters. The deals involve Woodside Energy and Commonwealth LNG, strengthening Aramco’s entry into the U.S. LNG sector at a time when American export capacity is set to nearly double. Aramco is expected to secure up to 2 million tonnes per year (mtpa) from Commonwealth LNG’s facility in Louisiana, while the Woodside agreement is expected to include both an equity stake and an offtake deal for an additional 2 mtpa.
Why It Matters?
The agreements would mark one of Aramco’s most significant moves in the global gas market, aligning with its strategy to diversify beyond crude and reach 20 mtpa of LNG capacity. For the United States, the deals reinforce its growing role as a top LNG exporter amid rising global demand and shifting energy security priorities. For Commonwealth LNG and Woodside, Aramco’s participation boosts commercial viability and advances two major Louisiana LNG projects toward key investment milestones.
What’s Next?
Commonwealth LNG aims to reach a final investment decision by year-end, while Woodside’s approved 16.5 mtpa project targets first LNG in 2029. Analysts will watch whether Aramco expands further into U.S. LNG assets and how these deals influence global LNG pricing and competition with major traders like Shell.
5 Reasons You Can’t Miss Cityscape Global 2025
Get ready for the most anticipated real estate event of the year — Cityscape Global 2025 is coming to Riyadh, uniting the world’s leading developers, investors, and innovators under one roof.
Here’s why you simply can’t miss it:
1️⃣ Win life-changing prizes – A luxury villa, premium SUVs, and 30+ iPhone 17s are up for grabs for visitors on-site.
2️⃣ Unlock exclusive on-site offers – Enjoy mortgage rates below 3% and SAR 3.6M+ in purchase rewards, available only at the event.
3️⃣ Be part of the biggest real estate showcase – Explore 250,000+ properties from global and Saudi developers, featuring 500+ exhibitors, 200+ developers, and 10 international pavilions.
4️⃣ Discover Saudi’s visionary giga projects – From NEOM and Qiddiya to Diriyah, ROSHN, and King Salman Park Foundation — experience the projects shaping the Kingdom’s future.
5️⃣ Enjoy an unforgettable experience – From live music and e-games to appearances by football legends like Edwin van der Sar and Fabio Capello, there’s something for everyone.
📅 November 17–20, 2025
📍 Riyadh Exhibition & Convention Center – Malham
Register now for free and be part of the world’s largest real estate event.
Dubai-Based Lebanese Influencer Karen Wazen to Launch Eyewear Stores Across Egypt with Baraka Group
What It’s About?
Dubai-based Lebanese influencer Karen Wazen is expanding her eyewear brand into Egypt through a new partnership with Baraka Group, one of the country’s leading eyewear retailers. The rollout begins in early 2026, with plans to open one new store every quarter for four years, reaching up to 16 dedicated boutiques nationwide. Wazen’s brand already has strong traction in Egypt, recording 50–80% year-on-year growth and selling over 12,500 units to date.
Why It Matters?
This partnership signals the growing commercial power of regional creators evolving into full-scale entrepreneurs. For Egypt, the move strengthens the country’s fashion and retail ecosystem, bringing a high-performing regional brand into a fast-growing consumer market. For Baraka Group, founded in 1979 and now operating more than 45 stores, the collaboration adds a digitally influential, youth-driven label to its portfolio. The expansion also reflects a broader trend of Gulf-based talent exporting homegrown brands across MENA.
What’s Next?
The first Karen Wazen store is expected to open in early 2026, marking the beginning of a multi-year rollout. Analysts are watching whether the brand can sustain its strong Egyptian demand and potentially exceed its current 50–80% annual sales growth. With Baraka Group’s nationwide footprint and Wazen’s regional influence, expectations point toward rapid scaling and deeper integration into Egypt’s retail landscape.
PIF Reportedly Explores Taking Aston Martin Private Amid Deepening Losses
What It’s About?
Aston Martin’s executive chairman Lawrence Stroll has held preliminary discussions with Saudi Arabia’s Public Investment Fund (PIF) about potentially taking the British luxury carmaker private, according to the Financial Times. The talks remain at an early stage, and Aston Martin has publicly denied being engaged in any privatisation discussions. PIF already owns 17% of the company, while Stroll and his investor group hold 16.7%. The interest comes as Aston Martin reported a 27% year-on-year revenue drop in Q3 2025 to £285 million, with losses before tax widening to £112 million.
Why It Matters?
A privatisation move involving PIF would mark another major Saudi play in the global automotive sector, reinforcing the kingdom’s strategy of investing in high-end mobility, performance engineering, and future transportation technologies. For Aston Martin, continued losses, rising debt of £1.4 billion, and declining sales have raised questions about the sustainability of its turnaround plan. Shares have fallen 99% since the 2018 IPO, making any strategic intervention — especially from a heavyweight investor like PIF — highly consequential for shareholders, suppliers, and the broader UK automotive sector.
What’s Next?
Analysts will watch for further signals from Aston Martin’s board, particularly around funding needs and its long-term profitability strategy. PIF’s next moves will also be closely monitored, given its recent partnerships with Aston Martin’s Formula One team and past capital injections. Market reaction may hinge on whether formal talks emerge — or whether Aston Martin maintains its public stance that no privatisation discussions are underway.
🦄 World of Startups
Zid, Saudi e-commerce enablement platform, expands into Egypt through a partnership with digital store provider Zammit.
Bahrain launches $185mln fund to support SMEs
Deplike, Turkey-based AI music learning platform, raised undisclosed seed funding from 216 Capital to grow its Chordie AI app with 250K active users.
Chari, Morocco-based fintech and e-commerce platform, raised undisclosed Series A extension funding from Egypt’s DisrupTech Ventures to expand its embedded financial services for retailers.
Arab Therapy, Jordan-based online mental health platform, secured a strategic investment from Value Makers Studio (VMS) to grow its licensed telemedicine and corporate wellness services.
First Circle Capital, a female-led VC in Uganda and Morocco, raised $6M from IFC for its $25M pan-African fintech fund targeting pre-seed and seed-stage startups in fintech, insurtech, and climate tech.
👨💻From Smashi Business’ Desk
How Arab Business Leaders View Zohran Mamdani, New York City’s New Mayor
Dubai-listed Talabat reported a 31% jump in revenue to $1B, driven by higher user activity and booming food and grocery orders across the Middle East.
Beauty mogul Huda Kattan, founder of Huda Beauty, has called on the world not to look away from Sudan’s unfolding tragedy.
🔍In other news…
DAMAC Properties Unveils Master Development, Opens New Sales Office in Egypt
Rotana Explores Potential UAE IPO
Emirates to Equip Aircraft with Starlink in Major Boost for SpaceX
Carrefour Gets $34 Billion Saadé Family as New Anchor Shareholder in Major Ownership Shake-Up
IHC Plans $24 Billion Global Expansion Drive Over the Next Nine Months
