AGP Executive Report

UAE Fintech Push: Emirates NBD teamed up with Dubai Future District Fund (DFDF) to source, pilot and deploy fintech/AI solutions, with a focus on SME services, compliance tech and next-gen banking infrastructure. Turkey SME Credit Pressure: Turkey’s business chambers renewed complaints about high loan costs and slow rate cuts, arguing SMEs face the steepest financing squeeze as banks react late to policy changes. Iran Subsidy Crackdown: Iran will suspend subsidized food coupon benefits for households failing in-person residency checks, with August 3–Sept 21 deadlines and household-wide suspension if verification isn’t completed. Oman SME Tourism Boost: Oman’s Khareef programme is highlighted as a driver for SMEs and local tourism, supporting small operators through seasonal demand. Israel Defense Tech Contract: Maris-Tech won an option exercise expanding a defense contract for a vehicle-mounted audio-based system for armored fighting vehicles. Kuwait Energy Innovation: Baker Hughes signed a multi-year deal with Kuwait Oil Company to accelerate upstream tech innovation via Ahmadi Innovation Valley, including digital and AI automation. Turkey AI Market Spotlight: GITEX Ai Türkiye 2026 in Istanbul will spotlight Türkiye’s fast-growing AI and data centre ambitions, including plans to train thousands of AI specialists. SME Sentiment Watch: Hong Kong’s latest SME business survey shows cautious sentiment, with receipts and new orders slightly softening amid uncertainty tied to Middle East developments.

UAE SME Tax Relief: The UAE Ministry of Finance extended corporate tax relief for small businesses (up to Dh3m revenue) until Dec 31, 2029, easing compliance and freeing cash for hiring, marketing, and early-stage growth. UAE Fintech Push: Emirates NBD partnered with Dubai Future District Fund to accelerate fintech and AI progress, aiming to boost innovation and adoption. Oman Tourism & Micro-Enterprise Support: Khareef Dhofar Season 2026 runs through Sept 21 with 136 free stalls for home-based businesses and artisans, plus a large agri-tourism destination to drive local demand. Syria Return Risks: Ras al-Ain’s first coordinated return convoy in over seven years faced assaults and gunfire, underlining ongoing security and property concerns for displaced families. Trade & SME Financing: BRICS trade ministers backed stronger trade links and agreed to study invoice discounting mechanisms to close the global trade finance gap for MSMEs. Energy Pressure on Businesses: Talks to reopen the Strait of Hormuz remain stalled, with Iran’s conditions seen as non-starters, pushing oil and gas prices higher and adding cost pressure across supply chains.

UAE Tax Relief: The UAE Ministry of Finance extended corporate tax relief for small businesses (up to Dh3m revenue) until Dec 31, 2029, cutting early-stage tax friction and freeing cash for hiring, marketing and rent. Fintech Partnerships: Emirates NBD teamed up with the Dubai Future District Fund (DFDF) to source, pilot and scale AI and fintech solutions, including embedded finance, digital assets, SME tools and compliance tech. SME Procurement Push: Dubai Customs said it boosted Emirati supplier purchases/contracts by 18% in 2025, supporting local firms through the Emirati Supplier Programme and government procurement reforms. Payments & Growth: Nayax reported Q2 momentum—revenue up 28% to $123m, installed base above 1.55m devices and plans to expand embedded financial services via Lynkwell and Nayax Capital. Supply Chain Risk Cover: Rokstone launched a cyber supply chain disruption extension under its Athena Cyber Division, aiming to protect SMEs when attacks hit key suppliers or customers. Micro-business Access to Finance: Invest NI’s Business Innovation Grant backed 160 micro and SMEs with £3.6m for innovation and productivity. Market Watch: Kaspi.kz posted strong 2Q/1H growth, with e-commerce still the main engine and AI shopping assistant Kasper rolling out nationwide.

UAE Procurement Push: Dubai Customs says Emirati suppliers won 18% more value in government contracts in 2025, reaching about $2.64m, as Dubai SME-linked initiatives expand national-company participation in public projects. Oman Women’s Market Access: Oman’s “Rural Dhofar 2026” exhibition (Aug 10–15) will bring 60+ women entrepreneurs to sell rural products directly, aiming to boost incomes and strengthen Omani SME supply chains. BRICS Trade Finance for MSMEs: BRICS trade ministers in Jaipur agreed to study an invoice discounting mechanism to help MSMEs unlock working capital and narrow a widening global MSME finance gap. Kuwait Competition Reform: Kuwait’s National Competition Policy project is 96% complete, targeting monopoly curbs and stronger enforcement to improve the climate for foreign investment. Egypt Market Momentum: Egypt’s stock market added about EGP 167bn in weekly market cap, with small- and mid-cap firms leading gains. Local Content Push (Oman): A proposal for a National Local Content Certificate would certify measurable value from local procurement and SME capability building.

SME Support & Policy: Kuwait says its National Competition Policy is 96% complete, aiming to curb monopolies and anti-competitive practices to boost foreign investment. Trade Finance for MSMEs: BRICS trade ministers in Jaipur agreed to study an invoice discounting mechanism to help MSMEs access trade finance and narrow a widening global credit gap. Local Content Push (Oman): Oman is calling for a National Local Content Certificate to verify real value from local procurement, workforce development, and SME capability building. Capital Markets (Egypt): Egypt’s stock market added about EGP 167bn in weekly market cap, with small- and mid-cap stocks leading and the SME platform rising too. SME Growth via Tax Relief (UAE): The UAE extended small business corporate tax relief until 2029, keeping pressure off smaller firms as they plan ahead. Women Entrepreneurship (Oman): “Rural Dhofar 2026” will run Aug 10–15, bringing 60+ women entrepreneurs to sell rural products and expand market reach. Banking & Lending (BRAC Bank, Bangladesh): Despite record profits, BRAC Bank faces sustained foreign sell-offs tied to renewed regulatory moves and uncertainty. Property Pipeline (Dubai): ANAX Developments outlined an AED 2bn+ pipeline as it moves projects into construction, signaling continued demand for residential delivery. AI Marketing Tools (UAE): Cloudflare launched an AEO Visibility Dashboard to show whether AI assistants recommend specific brands—useful for small firms competing for discovery. Job Market Pressure (US): US employers cut jobs and revised hiring lower, a reminder that financing and demand conditions can tighten quickly for small businesses. Unemployment & Informal Work (Afghanistan): A university graduate in Jawzjan sells street food amid persistent graduate unemployment and non-merit hiring.

Construction Costs in Nigeria: Mega Project Nigeria Expo convener Jude Chime says inflation and FX swings are breaking fixed-price deals as steel, cables, aluminium, elevators and HVAC prices surge and quotations expire mid-project. Competition Policy in Kuwait: Kuwait’s National Competition Policy is 96% complete, aiming to curb monopolies and anti-competitive practices with updated laws, tougher penalties and better market governance to attract more foreign investment. BRICS Trade & SME Push: BRICS trade ministers in Jaipur backed stronger trade links and support for SMEs, with UAE urging reopening of the Strait of Hormuz amid shipping disruption risks. Egypt Market Momentum: Egypt’s stock market added about EGP 167bn in weekly market cap, led by small- and mid-cap gains, pushing total listed value above EGP 4.1tn. UAE Property Pipeline: ANAX Developments (Dubai) says it has AED 1bn in projects under way and plans an AED 2bn+ pipeline, with construction starting on ELLE Residences Dubai Islands. Digital Discovery for SMBs (UAE): Cloudflare launched an AEO Visibility Dashboard to show whether AI assistants recommend a brand, helping marketers measure a new customer discovery channel. Foreign Capital Pressure (Bangladesh): BRAC Bank reports record profits but faces sustained foreign sell-offs tied to renewed regulatory moves and uncertainty.

UAE Tax Relief for SMEs: The UAE Ministry of Finance extended corporate tax relief for small businesses until end-2029, giving firms more breathing room for reinvestment and growth. UAE Fintech for SMEs: ruya is rolling out a business account for UAE SMEs, aiming to make banking access and management easier for smaller operators. BRICS Trade Finance Push: BRICS trade ministers backed measures to close the global trade finance gap (about $2.5tn) for MSMEs, including a credit assessment approach focused on cash flow for export-oriented firms. Bank Lending to MSMEs: A report highlights that local bank lending to MSMEs remains sluggish, with banks and borrowers both pulling back amid uncertainty. Property Pipeline in Dubai: ANAX Developments outlined a next growth stage with an AED 2bn-plus planned pipeline and construction starting on ELLE Residences Dubai Islands. Cross-border Payments for Startups: Nigeria’s Quidax expanded stablecoin infrastructure to 21+ countries to speed and cut the cost of cross-border transfers for fintechs and businesses. SME Hiring Pressure: In the Philippines, MSMEs received only a small share of bank loans in Q2, underscoring ongoing financing gaps.

UAE SME Tax Relief Extended: The UAE Ministry of Finance extended Small Business Relief for corporate tax claims to cover tax periods ending on or before Dec 31, 2029, keeping the AED 3m revenue threshold and simplified compliance rules for eligible firms. SME Credit Crunch Signals Risk: In the Philippines, MSME lending remains far below policy targets: MSMEs received only 4.48% of banks’ total loan portfolios in Q2, well under the 10% prescribed allocation. Fintech for Cross-Border Payments: Nigeria’s Quidax, a provisional SEC-licensed exchange, expanded its stablecoin infrastructure to 21+ countries and 14 currencies, aiming to cut costly Africa-to-Africa payment friction. BRICS Trade Finance Push: BRICS trade ministers in Jaipur backed a plan to study invoice discounting and credit assessment frameworks for export-oriented MSMEs, targeting a $2.5tn global trade finance gap. Labor Pressure in the Region’s Orbit: U.S. hiring cooled unexpectedly, with job cuts and slower wage growth—an external signal that can tighten conditions for small businesses tied to global demand.

UAE Corporate Tax Relief: The UAE Ministry of Finance extended Small Business Relief for eligible firms to tax periods ending on or before Dec 31, 2029, keeping the AED 3 million revenue threshold and simplified compliance rules in place. AI Governance for SMEs: Cloudflare launched an Identity-Aware AI Gateway for clearer visibility into who is using AI at work, what’s being sent, and spending limits—aimed at cutting both cost surprises and security blind spots. Startup/Skills Push in Abu Dhabi: ADGM Academy said it’s focusing through 2030 on future-ready talent, workforce capability, and applied research, including a School of AI to build “agentic AI” skills for corporates and professionals. Crypto Trading Access: Volt Funded opened globally with a risk-free prop trading model using simulated accounts, offering payouts only after traders pass evaluation. Health Tech Update: Lifeward will report Q2 2026 results on Aug 14, with no conference call, as it continues expanding beyond rehab into broader biomedical platforms. Business Confidence Signal: UAE’s economy outlook from the Palace points to recovery in the second half after slower Q2 growth.

SME & Policy: Saudi Arabia’s ruya launches a production-ready agentic AI banking push, aiming to boost SME services and speed up customer journeys. Startup & Funding: IIT Madras incubated climate deep-tech firm Solinas Integrity raised $5.5m (Series A1) to scale water/wastewater inspection robotics, with plans to expand into the Middle East and Southeast Asia. Local Business Ecosystem: Dubai Founders HQ and Mastercard unveiled a finance solution for startups and SMEs, targeting easier access to funding and payments. Trade & Industry: BRICS Industry Ministers adopted a Joint Declaration in Jaipur, with India pushing resilient, innovation-led industrial cooperation. SME Compliance & Trust: A UAE SME tax filing reminder from the Federal Tax Authority highlights the need for simplified returns under the Small Business Relief rules. Market Access: Wasl launched “The Wasl Edit” to spotlight UAE-based brands, giving local retailers a new channel to reach customers.

SME Policy & Regulation: New York’s Zohran Mamdani says a package of 50+ regulatory reforms is cutting paperwork for the city’s ~180,000 small businesses, alongside moves on universal child care and budget equity. AI & Payments for Growth: Dubai-based fintech Pemo is rolling out a business account for UAE SMEs, while OpenFX acquired Global Ledger to launch multi-currency accounts that let firms pay locally in their own currency. Identity Security in Education: Saudi Arabia’s education sector is getting BIO-key’s PortalGuard IAM via a partnership with Maktabi Tech, targeting safer logins for students and staff. Startup Expansion (Middle East-linked): UAE’s Wasl is launching “The Wasl Edit” to spotlight UAE brands, and Qubic partnered with AEON to integrate $QUBIC into AEON Pay across multiple countries. Business Finance & Infrastructure: Nayax filed to establish Nayax America Bank in Connecticut, aiming to expand regulated issuing/credit on its payments platform. Energy Contracting (regional business impact): South Africa’s ASP Isotopes says its Virginia Gas Project unit secured a new take-or-pay LNG contract, supporting Phase 1 cash flow.

SME & Diaspora Capital: Sri Lanka’s business leaders used Global Biz Connect 2026 to pitch a more investment-ready, diaspora-backed growth model, with calls to boost exports, tourism spend, and e-commerce adoption (online shopping still ~3%). SME Finance & Support: Egypt’s MSMEDA chief met Prime Minister Mostafa Madbouly to review a restructuring plan aimed at better services for start-ups and fast-growing firms, with stronger export and entrepreneurship support. Local Business Resilience: A Treasure Valley small business in Idaho is offering free alternative housing to Spokane wildfire evacuees, showing how SMEs can step in when disasters displace families. Policy Pressure on Costs: Fuel excise discounts are ending in Australia, with drivers bracing for higher prices and regulators urged to watch for pricing practices. Business Climate Signals: A survey cited by SCCCI flags rising costs as a top concern for 80% of firms amid global uncertainty.

SME Support Push: Singapore’s government and DBS are rolling out new help for local SMEs as costs bite harder amid Middle East-linked uncertainty, with an SCCCI survey finding 80% of firms worried about rising expenses and many experimenting with AI. Defense Tech & Local Industry: Israel-linked Mobilicom secured a design win for a loitering munitions platform, while BiomX bought a 10% stake in Motomea to strengthen drone electric-motor testing—both signals of continued investment in defense-adjacent supply chains. UAE SME Payments: A UAE fintech roundup highlights corporate credit cards and new e-invoicing/corporate tax compliance pressures pushing SMEs toward automated B2B spend and invoice workflows. Oman SME Growth: Al Buraimi reported 2,708 registered SMEs by end-2025, led by micro-enterprises, with activity concentrated in trade, repairs, construction, manufacturing, and services like cafes and tailoring. Business Cost Squeeze: In South Sudan’s Yei, retailers are urging government action as commodity price spikes are eroding margins and threatening small traders’ survival. AI for Retailers: Canada’s Shopify jumped after projecting stronger revenue growth, pointing to AI tools and partnerships drawing more merchants.

U.S. Election Watch: Missouri’s Democratic primary ended with Rep. Wesley Bell beating Cori Bush, a result that could reshape how pro-Palestinian messaging plays with mainstream Democrats ahead of November. U.S. House Primaries (Kansas): AP called Kansas House primaries for incumbents, including Sharice Davids defeating Sarah Preu, while other incumbents advanced—signals of continued establishment strength in key districts. Cyber & Water Security: A multistate cyber campaign tied to Iran is being investigated after a Clayton County water authority issued a boil-water advisory amid low pressure, raising the stakes for municipal resilience. Middle East SME Finance: UAE FTA reminders and “Small Business Relief” filing rules are back in focus, with simplified corporate tax returns required by a legal deadline. Cross-Border Payments: City Bank in Bangladesh says it executed live SWIFT retail cross-border transactions under the new scheme, enabling faster, full-value remittances—relevant for regional merchants and exporters. Tourism & Local Business: Saudi Arabia’s Al Baha heritage villages are drawing more visitors through restorations and festivals, boosting income for local hospitality and small businesses.

SME Banking & Cash Management (UAE): Pemo launched its first Shariah-compliant business account for UAE SMEs with ruya Community Islamic Bank, bundling spend management, corporate cards, payments and surplus-cash placement into a Wakala deposit (profit up to 3.75%) plus AI insights to spot idle cash. Defense Supply Chain (Israel): BOS secured about $1.9m in purchase orders for an air defense project, supplying electromechanical connectors via Israeli subcontractors, with deliveries expected through 2028. Counter-Drone Push (US): Change Agents formed Autonomous Air Defense LLC and added retired Major General Malcolm Frost to its advisory boards as it targets C-UAS and autonomous drone surveillance opportunities. Retail & Services Expansion (Kuwait): Aqua-Tots opened a new swim school location in Sabah Al Salem, Kuwait, continuing its Gulf expansion with year-round water safety education. Fintech for Workers (MENA): etoro and Papaya Global partnered to launch etoro work powered by Papaya Global’s Banco, linking pay to investing with education and community. Energy Costs (Middle East): Local fuel prices eased slightly after recent spikes, with diesel and gasoline rolling back by less than P1/L while kerosene fell more, easing pressure on drivers, farmers and small businesses.

SME Tax Relief Push: Philippines Senator Mark Villar filed a bill to exempt micro, small and medium enterprises from the Minimum Corporate Income Tax, citing MSMEs’ outsized role in jobs and GDP and warning that Middle East-linked inflation and energy shocks are squeezing operators. SME Support via Trade Fairs: Bahrain and Oman opened the 9th Bahrain–Oman Products Exhibition in Salalah, featuring about 30 SMEs and aimed at boosting cross-border entrepreneurship and partnerships. Local Livelihoods in Syria: Qatar Charity, with Attaa Humanitarian Relief Association, expanded a livestock value-chain project in northwest Syria, including mobile veterinary clinics, fodder distribution, and restoring a livestock market to support breeders’ incomes. Business Costs & Fuel Pressure: Fuel prices in the Philippines are set to roll back slightly (diesel and gasoline down under P1 per liter), with officials linking volatility to Hormuz and wider Middle East tensions—directly affecting transport and small businesses. UAE Tax Compliance Reminder: The UAE Federal Tax Authority reminded eligible firms that Small Business Relief still requires corporate tax registration, simplified returns, and proper record-keeping by set deadlines. SME Financing Spotlight: South Africa’s SME financing received a $332m boost, signaling continued focus on credit access for smaller firms.