Trump's Gulf tour ends with trillions in deals, a $400m Qatari jet and royal luxury

During his four-day visit to the Gulf, US President Donald Trump did what he says he does best: deal-making.

In the first foreign tour of his second presidency, Mr Trump secured $2 trillion worth of commercial deals and investment agreements for the US, according to a White House statement on Friday. The focus was on sectors including aviation, artificial intelligence, technology, defence and energy.

During his whirlwind tour of three Gulf states that began on Tuesday, Mr Trump has managed to secure record orders for US plane maker Boeing. The UAE's Etihad Airways booked 28 wide-body aircraft as part of a deal valued at $14.5 billion, while Qatar Airways signed an agreement for upto 210 jets powered by GE engines in an agreement worth $96 billion.

On the last day of his tour, the American leader secured a $440 billion investment commitment by the UAE in the US energy sector over the next decade.

“The US-UAE deals this week are very significant,” said Monica Malik, chief economist at Abu Dhabi Commercial Bank.

“A key development is the increased access to the most advanced US AI chips, which is very positive and important as the UAE moves towards a more knowledge-based economy.

“AI is a central area of focus for the UAE and one of the challenges previously was access to chips in the US. AI will help boost efficiency in various economic sectors in the UAE, alongside the development of new ones, alongside attracting FDI – so that really stood out.”

Here's a round-up of the dizzying multibillion dollar deals, from aviation to AI, that were signed during Mr Trump's trip to Saudi Arabia, Qatar and the UAE, where he was met with lavish displays of luxury and warm hospitality.

Saudi Arabia's $600 billion pledge

Saudi Arabia has committed to investing $600 billion in the US through a series of deals in energy, defence, technology, infrastructure and critical minerals. Saudi Crown Prince Mohammed bin Salman told the US-Saudi Investment Forum in Riyadh that “we will work in the next phase to complete additional agreements, reaching $1 trillion”.

Saudi Arabia will spend $142 billion on US weapons in what Mr Trump said was the biggest single military deal on record.
Google, Oracle, Salesforce, Advanced Micro Devices, Uber and Saudi-based DataVolt will invest $80 billion in technologies in both countries. DataVolt will spend $20 billion on AI data centres in the US.
GE Vernova will supply gas turbines and energy solutions totalling $14.2 billion.
Nvidia will begin shipping 18,000 of its most advanced Blackwell chips to the kingdom for use in a 500MW data centre. The deal came one day ahead of a Biden-era deadline that would have blocked such sales. Nvidia shares surged following a bruising few months.
Saudi Arabia's Public Investment Fund-backed plane lessor AviLease will buy $4.8 billion worth of Boeing 737-8 passenger jets, in a much-needed boost to the US plane maker.
Saudi Aramco plans to invest $3.4 billion in its Motiva refinery in Texas, the largest fuel-making plant in the US.
Elon Musk also sealed a “major” deal for Starlink to enter Saudi Arabia, although the transaction value was not disclosed.
US technology majors including Nvidia, Amazon Web Services, and Advanced Micro Devices plan to work with the Saudi Public Investment Fund's recently announced artificial intelligence company Humain.

Qatar Airways gives Boeing 'record' deal

The US and Qatar said they signed deals on Wednesday to generate an economic exchange worth at least $1.2 trillion. They also announced economic deals totalling more than $243.5 billion between the countries.

Qatar Airways signed an agreement with Boeing for 210 787 Dreamliner and 777X aircraft powered by GE Aerospace valued at $96 billion, the largest on record for the US plane maker, the White House said. The companies said the order includes 130 787 Dreamliners, 30 777X planes and options for 50 more 787 and 777X aircraft.
Parsons has won 30 projects worth up to $97 billion, the White House said.
Quantinuum finalised a joint venture agreement with Qatari company Al Rabban Capital under which Qatar will invest up to $1 billion in quantum technologies and workforce development.
Raytheon secured a $1 billion agreement for Qatar’s acquisition of counter-drone capabilities, signed by the US and Qatari governments.
General Atomics secured a nearly $2 billion agreement for Qatar’s acquisition of the MQ-9B remotely piloted aircraft system.
The US and Qatar also signed a statement of intent to further strengthen their security partnership, outlining over $38 billion in potential investments, including support for burden-sharing at Al Udeid Air Base and future defence capabilities related to air defence and maritime security.
Separately, Mr Trump accepted Qatar’s offer of a luxury Boeing 747 but analysts say the plane would need to be retrofitted to standards that the Air Force One currently maintains.

UAE and US agree $200 billion in commercial deals

The US announced a host of commercial and investments deals with the UAE worth $200 billion. The two countries also agreed to deepen co-operation on artificial intelligence.

The US and UAE agreed to create a path for the UAE to buy some of the world's most advanced AI semi-conductor chips from US companies, in addition to establishing an AI campus.
Etihad Airways placed a $14.5 billion order for 28 Boeing wide-body aircraft, a mix of 787s and 777Xs, powered by GE engines.
The UAE plans to increase the value of its energy investments in the US to $440 billion in the next decade, up from the current $70 billion, Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and managing director and group chief executive of Adnoc, said in a presentation.
US firms are to invest $60 billion in UAE energy projects.
Emirates Global Aluminium, the UAE’s largest industrial company outside the oil and gas sector, will develop a $4 billion primary aluminium smelter project in Oklahoma.
ExxonMobil, Occidental Petroleum, and EOG Resources are partnering with Adnoc for expanded oil and natural gas production valued at $60 billion.
Amazon Web Services, Abu Dhabi tech conglomerate e& and the UAE Cybersecurity Council have teamed up to boost sovereign cloud adoption in the UAE, a move expected to add $181 billion to the digital economy by 2033. They will also be developing a cybersecurity technology innovation centre in the Emirates.

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Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

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ITU Abu Dhabi World Triathlon

For more information go to www.abudhabi.triathlon.org.

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QUARTER-FINAL

Wales 20-19 France

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Company Fact Box

Company name/date started: Abwaab Technologies / September 2019

Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO

Based: Amman, Jordan

Sector: Education Technology

Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed

Stage: early-stage startup

Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.

When is VAR used?

• Goals

• Penalty decisions

• Direct red-card incidents

• Mistaken identity

COMPANY PROFILE

Company name: Blah

Started: 2018

Founder: Aliyah Al Abbar and Hend Al Marri

Based: Dubai

Industry: Technology and talent management

Initial investment: Dh20,000

Investors: Self-funded

Total customers: 40

Credits

Produced by: Colour Yellow Productions and Eros Now
Director: Mudassar Aziz
Cast: Sonakshi Sinha, Jimmy Sheirgill, Jassi Gill, Piyush Mishra, Diana Penty, Aparshakti Khurrana
Star rating: 2.5/5

MATCH INFO

Leeds United 0

Brighton 1 (Maupay 17')

Man of the match: Ben White (Brighton)

Top New Zealand cop on policing the virtual world

New Zealand police began closer scrutiny of social media and online communities after the attacks on two mosques in March, the country's top officer said.

The killing of 51 people in Christchurch and wounding of more than 40 others shocked the world. Brenton Tarrant, a suspected white supremacist, was accused of the killings. His trial is ongoing and he denies the charges.

Mike Bush, commissioner of New Zealand Police, said officers looked closely at how they monitored social media in the wake of the tragedy to see if lessons could be learned.

“We decided that it was fit for purpose but we need to deepen it in terms of community relationships, extending them not only with the traditional community but the virtual one as well," he told The National.

"We want to get ahead of attacks like we suffered in New Zealand so we have to challenge ourselves to be better."

Dubai Rugby Sevens

November 30-December 2, at The Sevens, Dubai

Gulf Under 19

Pool A – Abu Dhabi Harlequins, Jumeirah College Tigers, Dubai English Speaking School 1, Gems World Academy

Pool B – British School Al Khubairat, Bahrain Colts, Jumeirah College Lions, Dubai English Speaking School 2

Pool C - Dubai College A, Dubai Sharks, Jumeirah English Speaking School, Al Yasmina

Pool D – Dubai Exiles, Dubai Hurricanes, Al Ain Amblers, Deira International School

Is it worth it? We put cheesecake frap to the test.

The verdict from the nutritionists is damning. But does a cheesecake frappuccino taste good enough to merit the indulgence?

My advice is to only go there if you have unusually sweet tooth. I like my puddings, but this was a bit much even for me. The first hit is a winner, but it's downhill, slowly, from there. Each sip is a little less satisfying than the last, and maybe it was just all that sugar, but it isn't long before the rush is replaced by a creeping remorse. And half of the thing is still left.

The caramel version is far superior to the blueberry, too. If someone put a full caramel cheesecake through a liquidiser and scooped out the contents, it would probably taste something like this. Blueberry, on the other hand, has more of an artificial taste. It's like someone has tried to invent this drink in a lab, and while early results were promising, they're still in the testing phase. It isn't terrible, but something isn't quite right either.

So if you want an experience, go for a small, and opt for the caramel. But if you want a cheesecake, it's probably more satisfying, and not quite as unhealthy, to just order the real thing.

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GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

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The specs: 2018 Mercedes-Benz E 300 Cabriolet

Price, base / as tested: Dh275,250 / Dh328,465

Engine: 2.0-litre four-cylinder

Power: 245hp @ 5,500rpm

Torque: 370Nm @ 1,300rpm

Transmission: Nine-speed automatic

Fuel consumption, combined: 7.0L / 100km

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks.

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.

8. Pillar 2 implementation

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Abu Dhabi GP starting grid

1 Lewis Hamilton (Mercedes)

2 Valtteri Bottas (Mercedes)

3 Sebastian Vettel (Ferrari)

4 Kimi Raikkonen (Ferrari)

5 Daniel Ricciardo (Red Bull)

6 Max Verstappen (Red Bull)

7 Romain Grosjean (Haas)

8 Charles Leclerc (Sauber)

9 Esteban Ocon (Force India)

10 Nico Hulkenberg (Renault)

11 Carlos Sainz (Renault)

12 Marcus Ericsson (Sauber)

13 Kevin Magnussen (Haas)

14 Sergio Perez (Force India)

15 Fernando Alonso (McLaren)

16 Brendon Hartley (Toro Rosso)

17 Pierre Gasly (Toro Rosso)

18 Stoffe Vandoorne (McLaren)

19 Sergey Sirotkin (Williams)

20 Lance Stroll (Williams)

Super Rugby play-offs

Quarter-finals

Hurricanes 35, ACT 16
Crusaders 17, Highlanders 0
Lions 23, Sharks 21
Chiefs 17, Stormers 11

Semi-finals

Saturday, July 29

Crusaders v Chiefs, 12.35pm (UAE)
Lions v Hurricanes, 4.30pm

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THE SPECS

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Fuel consumption: 10.2 l/100km

Price: Dh375,000

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Past winners of the Abu Dhabi Grand Prix

2016 Lewis Hamilton (Mercedes-GP)

2015 Nico Rosberg (Mercedes-GP)

2014 Lewis Hamilton (Mercedes-GP)

2013 Sebastian Vettel (Red Bull Racing)

2012 Kimi Raikkonen (Lotus)

2011 Lewis Hamilton (McLaren)

2010 Sebastian Vettel (Red Bull Racing)

2009 Sebastian Vettel (Red Bull Racing)

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Other ways to buy used products in the UAE

UAE insurance firm Al Wathba National Insurance Company (AWNIC) last year launched an e-commerce website with a facility enabling users to buy car wrecks.

Bidders and potential buyers register on the online salvage car auction portal to view vehicles, review condition reports, or arrange physical surveys, and then start bidding for motors they plan to restore or harvest for parts.

Physical salvage car auctions are a common method for insurers around the world to move on heavily damaged vehicles, but AWNIC is one of the few UAE insurers to offer such services online.

For cars and less sizeable items such as bicycles and furniture, Dubizzle is arguably the best-known marketplace for pre-loved.

Founded in 2005, in recent years it has been joined by a plethora of Facebook community pages for shifting used goods, including Abu Dhabi Marketplace, Flea Market UAE and Arabian Ranches Souq Market while sites such as The Luxury Closet and Riot deal largely in second-hand fashion.

At the high-end of the pre-used spectrum, resellers such as Timepiece360.ae, WatchBox Middle East and Watches Market Dubai deal in authenticated second-hand luxury timepieces from brands such as Rolex, Hublot and Tag Heuer, with a warranty.

Match info

Uefa Champions League Group B

Tottenham Hotspur 1 (Eriksen 80')
Inter Milan 0