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Karen Wazen Joins Samsung as Macron Sends Troops to Saudi Arabia and EQT Picks Abu Dhabi
AI, tech, startup and business stories from the Arab world. For the driven, the dreamers and the doers
Saturday, September 26, 2026
Happy Saturday everyone!
Global brands, military deployments and private capital lead Middle Eastern business updates today. Karen Wazen joined Samsung Galaxy as its MENA brand ambassador, while French President Emmanuel Macron announced plans to send troops and defence systems to protect Saudi Arabia’s Yanbu oil route. Meanwhile, $390 billion investment firm EQT opened its new Middle East investment platform in Abu Dhabi, targeting opportunities across education, healthcare and infrastructure.
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Markets
EGX30 | 53,776.69 | Closed |
DFMGI | 5,983.05 | -0.42 |
ADX | 10,205.96 | 0.36% |
Tadawul | 10,242.78 | Closed |
Macron to Send French Troops to Protect Saudi Arabia’s Yanbu Oil Route
🔹 What Is It About
French President Emmanuel Macron says France will send soldiers, radar and defence systems to Saudi Arabia to protect the Red Sea port of Yanbu, a key route for Saudi energy exports. “We are going to send military resources, that is to say, soldiers, radar systems and defence systems, to protect this site,” Macron said, stressing France was “not to get us involved in any conflicts.”
🔹 Why It Matters
Yanbu has become increasingly important to global energy security as the Iran war disrupts traditional oil routes. The port provides Saudi Arabia with an alternative export route through the Red Sea, but recent missile attacks from Iran backed Houthis in Yemen have put that infrastructure under pressure. Macron is also facing high energy prices at home and has sought to reassure France that oil and gas supplies remain secure.
🔹 What’s Next
Attention now turns to when and how many French forces will deploy, details Macron has not disclosed. The deployment could strengthen protection around Saudi energy infrastructure as attacks continue, while providing another layer of security for oil flows through the Red Sea. For markets, the key question is whether protecting Yanbu can reduce the risk of further disruptions to Saudi crude exports and global energy supplies.
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Karen Wazen Adds Samsung Galaxy to Growing Global Brand Portfolio
🔹 What Is It About
Dubai based Lebanese entrepreneur Karen Wazen has joined Samsung Electronics as its new Galaxy Mobile Brand Ambassador for the Middle East and North Africa. The partnership adds another global name to Wazen’s portfolio, which already includes roles as a WHOOP Global Ambassador, Guerlain regional skincare ambassador and UNHCR Goodwill Ambassador.
🔹 Why It Matters
Wazen’s partnerships increasingly extend beyond traditional influencer endorsements. She became an investor in WHOOP, participating in the wearable technology company’s $575 million Series G funding round. For Samsung, the appointment brings one of the region’s most prominent lifestyle entrepreneurs into its Galaxy marketing as it maintains a leading position in the Middle East smartphone market.
🔹 What’s Next
Samsung held 39% of Middle East smartphone shipments in Q2 2026, according to Omdia, up from 34% a year earlier despite shipments falling 7% to about 4.1 million devices. Wazen’s appointment comes as Samsung pushes its latest Galaxy devices across the region, with the partnership giving the company another route into fashion, lifestyle and creator audiences across MENA.
$390 Billion EQT Picks Abu Dhabi for New Middle East Investment Platform
🔹 What Is It About
Stockholm listed investment firm EQT has opened an Abu Dhabi office, establishing a Middle East investment platform from ADGM. The firm, which manages about $390 billion, has 10 staff covering deals and investor relations and is targeting opportunities across education, healthcare and infrastructure. EQT Partner Jimmy Mahtani said succession among Gulf family businesses and government privatization programmes are creating new investment opportunities.
🔹 Why It Matters
EQT is the latest global investment heavyweight expanding its Gulf presence as the region attracts increasing amounts of international capital. Its existing portfolio could provide an immediate route into the market, with data center developer EdgeConneX and schools group Nord Anglia both seeing regional expansion opportunities. Separately, BlackRock plans to direct as much as $100 billion of international capital deployment towards Middle East opportunities.
🔹 What’s Next
EQT will now be worth watching for its first investments through the Abu Dhabi platform, particularly as family businesses consider succession deals and governments continue privatization programmes. The wider backdrop is substantial: around $2.1 trillion in regional spending is expected by 2030, with infrastructure and energy among the major areas attracting capital.
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Content, Connections, Deals: DICM 2026 Opens Registration
The Dubai International Content Market (DICM) returns to the iconic Madinat Jumeirah on 10–11 November 2026, bringing together the region's largest gathering of content and entertainment professionals. Named the Best Annual Media Industry Event in MENA, DICM is the go-to marketplace for buying, selling, co-producing and distributing content across TV, film, streaming and digital platforms.
Expect 100+ exhibiting companies, over 1,000 media executives from 55+ countries, and access to the Content Business Hub — DICM's matchmaking platform that lets buyers and sellers pre-schedule meetings up to six weeks before doors open. Whether you're scouting new IP, seeking co-production partners, or expanding into the fast-growing Middle East and Africa markets, DICM delivers the connections and deal-flow to make it happen.
Registration is now open. Secure your spot at one of MENA's pivotal media industry events.
👨💻From Smashi Business’ Desk
UAE Billionaire Al Habtoor Mourns Passing of HH Sheikh Ahmed bin Rashid Al Maktoum
Yara Alnamlah’s Moonglaze Hits Sephora Billboards Ahead of Saudi National Day
Dubai based The Giving Movement CEO Rania Masri El Khatib has spoken out after Macklemore was removed from Ed Sheeran’s US tour following his support for Palestine.
‘Stop Sexualizing the Gym’: Squatwolf Founder Slams Sydney Sweeney’s Controversial Ad
🔍In other news…
Engineers India Eyes Gulf Growth as Saudi, UAE Build Hormuz Bypass Infrastructure
ADNOC Distribution Plans $1 Billion Egypt Expansion With 400 New Stations
Mubadala Eyes Ansaldo Energia Stake as AI Drives Power Demand
US Clears Gulf Funds to Raise Stakes in Paramount Warner Deal
Cristiano Ronaldo Joins $500M Bid for Stake in Al Nassr
🦄 World of Startups
Tabby, Saudi-based BNPL, raised $233M in a Series F equity round at a $6.5B valuation.
OCTA, USA-based accounting platform, raised $3.5M in a seed funding round led by Middle East Venture Partners (MEVP) and joined by Wa'ed Ventures, Plug and Play, and A-typical Ventures, Sukna Ventures and Sadu Capital.
Rize, Saudi-based residential rental platform, secured a $50M (SAR 187.5M) asset-backed Murabaha facility from Jadwa Investment.
Bekia, Egypt-based recycling technology startup, raised $765K in a seed funding round led by Madica, joined by Catalyst Fund and Jambaar Capital.
Lendo, Saudi-based Shariah-compliant debt crowdfunding marketplace, secured a commitment of up to $200M (SAR 750M) from Quantic Financial Solutions GmbH, Austria-based asset management fund.
Saudi Arabian building materials platform BRKZ has secured $31 million in new funding.
Saudi digital payments company Barq has raised $329.5 million in a Series A round, valuing the fintech at $1.85 billion.
