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Trump Touts $14B Saudi Deal; Al Habtoor Expands UAE Push; Israel Economy Loses $57B
Sunday, March 29, 2026
Happy Sunday everyone!
At the FII PRIORITY Miami Saudi conference that just wrapped up, President Trump highlighted deepening US-Saudi ties, including a planned $14 billion Oracle investment in cloud and AI infrastructure. In the UAE, Al Habtoor Group is preparing a new wave of projects while exploring expansion into Abu Dhabi, reinforcing confidence in the country’s investment environment. Meanwhile, Israel’s economy has lost $57 billion, or 8.6% of GDP, after two years of genocide in Gaza, underscoring mounting fiscal pressure.
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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Trump Headlines Saudi FII Summit in Miami, Says Oracle to Invest $14 Billion in Kingdom
President Trump delivered remarks at the FII PRIORITY Miami Summit, held from March 25–27, 2026 at the Faena Hotel, highlighting a dramatic shift in Middle East relations, with a focus on enhanced security and unprecedented economic partnerships between the United States and Gulf nations.
On Regional Security and 'Ending Wars':
Trump claimed his administration brought stability to the region, stating, "I stopped eight wars." Referring to military actions against Iranian capacity, he noted the precision of U.S. forces, asserting, "we Stopped it. We stopped it. We stopped it with him [the missile attacks]." Furthermore, he claimed that after his actions, there was "Dead silent. Nobody wants to lead" Iran.
On Saudi Arabia and Leadership:
Trump lauded the Kingdom's support compared to NATO, stating, "I wasn't disappointed with our allies in the Middle East... We had tremendous support from countries that were not in the general area." He specifically praised Yasir Al-Rumayyan, Chairman of the FII Institute, calling him a "great leader" and highlighting his influence, saying, "All I know is he's got a lot of power. All I know is he's got a lot of cash." Regarding the Crown Prince, Trump clarified his praise for the leadership structure, stating: "Saudi Arabia can be very proud of him [the Crown Prince] because he's got a lot of titles. He's the crown prince. He's the prime minister... I said, 'You have more titles than any human being on earth.'" He added, "He deserves to be because he's a winner."
On Economic Investments and Oracle:
Trump highlighted massive defense and technology deals. He announced that "Saudi Arabia signed the largest defense sales agreement in American history. Nearly 142 billion dollars of the finest military equipment." Trump also highlighted a new technology partnership, stating, "Oracle will be building a $14 billion worth of cloud computing and AI infrastructure in the kingdom."
Binance Scores Second US 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 readiness to vigorously defend itself against unfounded claims.
Dubai’s Al Habtoor Signals New Projects While Exiting Lebanon
What Is It About?
Khalaf Ahmad Al Habtoor has signalled a new pipeline of developments, with Al Habtoor Group set to announce a project next week and more launches planned this year. The group is also exploring expansion into Abu Dhabi. At the same time, it is exiting Lebanon, pursuing arbitration over $1.7 billion in losses.
Why It Matters?
The move highlights a clear capital reallocation strategy—doubling down on stable, high-growth markets like the UAE while withdrawing from high-risk environments. It also reinforces the UAE’s position as a safe haven for investment, particularly as regional uncertainty reshapes where capital flows.
What’s Next?
Attention will turn to the scale and sector of the upcoming project and whether expansion into Abu Dhabi materialises. Analysts will also watch how the Lebanon arbitration unfolds and whether other regional players follow a similar risk-adjustment strategy.
Israel’s Economy Takes $57 Billion Hit from Gaza Genocide, Central Bank Says
What Is It About?
Israel’s economy has lost more than $57 billion over two years of genocide in Gaza, according to the Bank of Israel. The losses, equivalent to 8.6% of GDP, reflect military spending, disrupted trade, and broader economic strain between 2023 and 2025.
Why It Matters?
The figures highlight the economic cost of prolonged conflict, with pressure extending beyond defence budgets into trade and growth. Exports to several EU countries declined, suggesting political tensions are beginning to influence commercial ties and market access.
What’s Next?
With an additional $13 billion added to the 2026 budget for war spending and ongoing tensions with Iran, analysts will watch for further GDP pressure, fiscal strain, and trade shifts as geopolitical risks continue to reshape Israel’s economic outlook.
👨💻From Smashi Business’ Desk
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🔍In other news…
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Aldar to Deliver 3,500 UAE Homes in 2026 as March Spend Hits $422m
Saudi Arabia’s ZATCA Sets Excise Tax Deadline, Warns of Penalties Up to 25%
🦄 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).
