This episode traces the rise of Jordanian-Emirati entrepreneur Abdallah Abu-Sheikh — from hustling at 17 under family pressure to building billion-dollar platforms before 30.We unpack his journey from renewable energy in sub-Saharan Africa to launching Rizek in the UAE, scaling electric mobility with Barq, and architecting Astra Tech’s ultra-platform strategy through PayBy and Botim. Instead of building apps, Abu-Sheikh built systems — communication, finance, mobility — all designed to reduce friction across daily life in MENA.Now, he’s entering his most ambitious chapter yet: Mal, an AI-driven Islamic fintech platform headquartered in Abu Dhabi, backed by a $230 million seed round — one of the largest in MENA history.

In today’s Smashi Business Show, Gulf-backed Anthropic triggers a cybersecurity selloff, Lakshmi Mittal expands ArcelorMittal in Sharjah, and the Trump administration advances a proposed civil nuclear agreement with Saudi Arabia.

HEADLINES:

• Gulf States Commit Over $4 Billion to Gaza Reconstruction at Trump’s Board of Peace Meeting

• Cristiano Ronaldo invests $7.5 million in Herbalife health tech company, stock jumps

• Crown Prince of Abu Dhabi Arrives in New Delhi for India AI Impact Summit

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HEADLINES:

• Gulf-Backed OpenAI Targets $850 Billion Valuation in Historic $100 Billion Funding Push

• Abu Dhabi’s Mubadala doubles investment in Bitcoin ETF to $630mln

• Saudi's Humain invested $3 billion in xAI's Series E funding round

HEADLINES:

• Gulf Sovereign Funds Back in Play as Warner Bros. Reopens Paramount Talks

• Stake Secures $31 Million Series B Led By Emirates NBD To Scale Global Real Estate Investing

• Prince Alwaleed’s Combined Stake in Elon Musk Companies Reaches $9.2 Billion

HEADLINES:

• US AI firm Luma AI opens Riyadh hub to advance Arabic-native AI with HUMAIN

• UAE legaltech pioneer Clara acquired by Singapore’s Ascentium

• Smashi Business Show Guest: Demetrios Bradshaw - CEO Of Aeras Aviation

HEADLINES:

• Abu Dhabi’s MGX Builds Stakes in OpenAI, xAI, and Anthropic, Cementing Role in Global AI Race

• Ex-Google X Executive Mo Gawdat Launches AI Dating App Focused on Lasting Relationships

• UK and Canadian Funds Resume DP World Investments After Leadership Shake-Up

Smashi Business Show Live with Foodics Founder Ahmad AlZaini from STEP Dubai 2026