Happy and Safe Thursday, everyone!

The UAE’s economic landscape is shifting as Starlink officially launches satellite internet services starting at AED 190, offering speeds up to 400 Mbps to challenge traditional providers. Amid this expansion, prominent entrepreneur Khalaf Al Habtoor publicly challenged Western perceptions of the nation, asserting that the UAE’s success is driven by the hard work of 200 nationalities rather than just concentrated wealth. Simultaneously, the Central Bank of the UAE, chaired by H.H. Mansour bin Zayed Al Nahyan, approved a comprehensive resilience package to bolster liquidity and ease capital requirements for banks navigating current geopolitical volatility.

In the wake of developments in the region, we hope everyone stays safe. At this critical moment, it is essential to remain united and follow guidance issued by official authorities from your country.

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Markets

Elon Musk's Starlink Invades UAE skies

What Is It About?

Elon Musk’s Starlink has officially gone live in the UAE, introducing high-speed satellite internet with downloads reaching 400 Mbps. With residential plans priced from AED 190, the service provides a competitive alternative to established local telcos, marking a significant step in Musk’s broader regional ambitions, which include the Dubai Loop project.

Why It Matters?

The entry of a global disruptor threatens the long-standing duopoly in the UAE’s telecommunications sector. For businesses and remote operations, the high-speed, low-latency connection provides a critical redundancy layer. This launch coincides with a broader market downturn where Asian and Gulf indices have struggled; the DFMGI recently touched 5,288.70, reflecting investor caution despite high-tech entries.

What’s Next?

Analysts will watch for a pricing response from local providers to retain market share. Furthermore, the success of Starlink may accelerate regulatory approvals for other satellite-based services across the GCC, potentially integrating the region into a more seamless global data network.

Binance Scores Second U.S. Legal Victory in Anti-Terrorism Act Case

Binance, the world’s largest cryptocurrency exchange, has secured a second major U.S. legal win in just two weeks, after a federal court in Alabama dismissed all claims against the company under the Anti-Terrorism Act. The court criticized the plaintiffs’ complaint as a “shotgun pleading,” citing its failure to clearly outline allegations or distinguish individual liability, and granted the plaintiffs until April 10, 2026, to amend the filing or risk dismissal.

This follows a similar victory in New York, reinforcing Binance’s defense against allegations of supporting terrorism. General Counsel Eleanor Hughes emphasized that the rulings reflect the need for legal rigour and evidence, and reiterated Binance’s commitment to compliance, transparency, and lawful operations. With these back-to-back wins, Binance strengthens its position in the U.S. legal landscape and signals its readiness to vigorously defend the platform and its community against unfounded claims.

Al Habtoor Counters the "Playground" Narrative: Defending the UAE’s Meritocratic Growth

What Is It About?

Emirati billionaire Khalaf Al Habtoor has issued a sharp rebuttal to Western media portrayals of the UAE as merely a "playground for the rich." He emphasized that the nation’s growth is built on the contributions of millions of expatriates and locals who "work with dignity," framing diversity as the primary engine of innovation and economic resilience.

Why It Matters?

The statement aims to protect the UAE’s brand as a global hub for talent and FDI during a period of intense regional scrutiny. As geopolitical tensions weigh on the Tadawul and ADX, maintaining the narrative of a stable, meritocratic business environment is essential to preventing capital flight to more distant markets in Europe or North America.

What’s Next?

Expect a continued "soft power" push from the UAE's business elite to highlight the country's industrial and technological output. This narrative will be vital as the UAE seeks to diversify its economy away from oil and maintain its status as a top-tier destination for the global workforce.

CBUAE Deploys AED 1 Trillion Resilience Shield: Protecting the Financial System from War Risks

What Is It About?

The Central Bank of the UAE (CBUAE) has approved a "resilience package" designed to shield the banking sector from ongoing market shocks. The plan, led by H.H. Mansour bin Zayed Al Nahyan, grants banks enhanced access to dirham and dollar funding while temporarily easing regulatory capital and liquidity requirements to ensure credit continues to flow to businesses.

Why it Matters?

This is a direct response to the market volatility that saw the EGX30 drop 1.61% and the DFMGI slide 2.54% in a single session. By providing a buffer, the CBUAE is attempting to prevent a credit crunch that could arise from the regional war. It specifically supports banks that have had to shutter branches, such as Citi and HSBC, by ensuring the underlying financial plumbing remains functional.

What’s Next?

The focus shifts to how effectively commercial banks pass this liquidity to small and medium enterprises (SMEs). Investors will be monitoring the next round of bank earnings to see if these "resilience" measures successfully offset the rising war-risk premiums and operational disruptions currently impacting the Gulf.

👨‍💻From Smashi Business’ Desk

• UAE is spending nearly $1 million to intercept one Iranian missile or drone

• Abu dhabi’s MGX-backed OpenAI sees ChatGPT app uninstalls jump 295% in the US⁠

• UAE Successfully Intercepts Iranian Missiles, Naguib Sawiris Voices Support

• CEO Mudassir Sheikha says the company’s top priority is the “safety of our captains”

• Khalaf Al Habtoor: “Dubai Remains One of the Safest Destinations on Earth”

• 'Cancel ChatGPT': Sam Altman Under Fire for Pentagon Deal as US Attacks Iran⁠

🔍In other news…

• Oil loading resumes at UAE's Fujairah port after an attack, sources say

• Ukraine wants technology and cash in exchange for helping Gulf nations repel Iranian drone attacks, President Volodymyr Zelenskyy said Saturday, a sign of Kyiv’s newfound international leverage.

• Pakistan Oil Tanker Transits Hormuz After Hugging Iran Coast

• UAE Oil Production Is Down by Almost Half Amid Hormuz Closure

• Citi to keep most UAE branches closed indefinitely due to Iran war

• Bahrain's Alba to cut 19% of aluminium production capacity amid Hormuz disruption

🦄 World of Startups

• Stake Raises $31M Series B Led by Emirates NBD, Total Funding Hits $58M

• US-based Luma AI is planting its flag in Riyadh — opening a regional headquater

• Singapore's Ascentium continues its aggressive expansion, acquiring UAE legaltech pioneer Clara in a strategic Middle East play

• Abu Dhabi is quietly becoming one of the most influential financiers of the global AI race, with its latest participation in Anthropic’s massive $30B funding round

• Safqah Capital has just closed one of Saudi Arabia’s largest-ever seed rounds, raising $15.2 million in a deal that was four times oversubscribed

🗓️ Plan Your Events (March-April 2026)

UAE

• 31 March - 2 April (Tuesday-Thursday): Arab Media Summit, Dubai.

• 26-28 March (Thursday-Saturday): Social Capital Conference, Dubai.

• 7-9 April (Tuesday-Thursday): Future Health Summit, Adnec Center Abu Dhabi.

• 13-15 April (Monday-Wednesday): AIM Congress, Dubai World Trade Center.

• 14-16 April: (Tuesday-Thursday): the International Property Show, Dubai World Trade Center.
  

Saudi Arabia

• 13-16 April (Monday-Thursday): Leap Tech Conference, Riyadh Exhibition & Convention Center - Malham.

• 20-22 April (Monday-Wednesday): Sports Investment Forum (SIF), Riyadh

Egypt

• 30 March – 1 April (Monday-Wednesday): Egypt International Energy Conference and Exhibition (EGYPES).

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