{"id":114777,"date":"2026-05-04T00:00:00","date_gmt":"2026-05-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/menaplus\/?post_type=issue&#038;p=114777"},"modified":"2026-05-04T06:35:21","modified_gmt":"2026-05-04T06:35:21","slug":"summer-salvation","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/menaplus\/issues\/summer-salvation\/","title":{"rendered":"Summer salvation"},"content":{"rendered":"<section id=\"114779\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"114779\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">OPENING NOTE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/on-its-third-day-of-independence-from-opec-the-uae-is-clearly-aiming-to-reach-escape-velocity\/\">\r\n                            The UAE is looking to hit escape velocity                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/on-its-third-day-of-independence-from-opec-the-uae-is-clearly-aiming-to-reach-escape-velocity\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/on-its-third-day-of-independence-from-opec-the-uae-is-clearly-aiming-to-reach-escape-velocity\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/on-its-third-day-of-independence-from-opec-the-uae-is-clearly-aiming-to-reach-escape-velocity\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=On its third day of independence from OPEC, the UAE is clearly aiming to reach escape velocity&url=https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/on-its-third-day-of-independence-from-opec-the-uae-is-clearly-aiming-to-reach-escape-velocity\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/on-its-third-day-of-independence-from-opec-the-uae-is-clearly-aiming-to-reach-escape-velocity\/&title=On its third day of independence from OPEC, the UAE is clearly aiming to reach escape velocity\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=On+its+third+day+of+independence+from+OPEC%2C+the+UAE+is+clearly+aiming+to+reach+escape+velocity+https%3A%2F%2Fenterpriseam.com%2Fmenaplus%2F2026%2F05%2F04%2Fon-its-third-day-of-independence-from-opec-the-uae-is-clearly-aiming-to-reach-escape-velocity%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/on-its-third-day-of-independence-from-opec-the-uae-is-clearly-aiming-to-reach-escape-velocity\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-114779\" class=\"content-area-description single-story post-114779 post type-post status-publish format-standard hentry category-opening-note tag-adnoc tag-energy-watch tag-enterpriseam tag-opec tag-opening-note wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s day three of the New Oil Order, and [redacted]\u2019s already getting interesting: <\/strong>OPEC+ pushed ahead yesterday with a 188k barrel per day increase in production for June\u2026<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2026and ADNOC boss Sultan Al Jaber just unleashed a USD 55 bn oil and gas <\/strong><strong>contract-award<\/strong> program through 2028 as the UAE looks to hit (and presumably blow past) its goal of 5 mn barrels of production per day by 2027. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Perhaps even more interesting:<\/strong> What ADNOC is billing as a \u201cLocal+\u201d expansion of the in-country value program will pump bns of USD into the UAE economy over the next five years as it brings more Emirates-based companies into the energy industry supply chain. For a certain type of company, that\u2019s a pretty big anchor against any tendency to declare some other city its \u201cregional headquarters.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE\u2019s push comes as the amateur Orientalists continue their tour of our region<\/strong>, saying Saudi\u2019s pullback from gigaprojects <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2026\/05\/01\/world\/middleeast\/saudi-arabia-spending-sports-liv-golf.html\" style=\"\">\u201craises questions about its plans\u201d<\/a> and suggesting that <a target=\"_blank\" href=\"https:\/\/www.theglobeandmail.com\/opinion\/article-the-end-of-the-saudi-mirage\/\" style=\"\">the \u201cSaudi mirage\u201d is fading<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One of the smartest guys we know in MENA+ said he thought there was an outside <\/strong><strong>chance that Iran\u2019s attacks on the region could have been a watershed moment <\/strong>\u2014 that we could have seen the burying of the hatchet between Riyadh and Abu Dhabi and, with it, a new push on joint military procurement and defense strategy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hot Tub Time Machine: <\/strong>Instead, there\u2019s a very real risk we may be sliding back into the 1980s and 1990s \u2014 when low oil prices were a cap on economies across the region. The UAE is clearly betting that it is so far down the diversification highway that if that\u2019s the case, it\u2019s better to go it alone and be the first to hit escape velocity. \u2013Patrick<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/energy-watch\/\">ENERGY WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/opec\/\">Opec<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/opening-note\/\">Opening Note<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"114780\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"114780\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">THE LEDE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/lebanons-tourism-industry-is-holding-the-line-with-a-narrow-window-to-rescue-the-season\/\">\r\n                            Salvaging summer                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/lebanons-tourism-industry-is-holding-the-line-with-a-narrow-window-to-rescue-the-season\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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With the industry\u2019s summer typically starting in mid-June and peaking in July and August, the next few weeks will be decisive.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThere\u2019s still a chance to catch up with part of the summer season<\/strong>\u2026 It won\u2019t be a normal summer \u2014 demand won\u2019t return to previous standards or be enough for all hotels, but if conditions calm, the season won\u2019t be lost entirely,\u201d Cynthia Flouty, director of operations at M\u00f6venpick Beirut, tells EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Early green shoots:<\/strong> Bookings have started to recover since the ceasefire came into effect last month, our sources tell us, albeit weakly and from a low base. \u201cBefore the conflict, we were averaging 70-80 bookings a day,\u201d Flouty says, with that number dropping to just one or two during the war. \u201cMost visitors now are Lebanese nationals living abroad, coming to check on their families or properties \u2014 and they\u2019re not staying long,\u201d she adds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The full resumption of air travel is going to be a critical signal of the return to normalcy<\/strong>, Flouty tells us. \u201cAs soon as flights start resuming, it sends a positive signal, security-wise \u2014 especially for Lebanese nationals living abroad; and that\u2019s usually enough to bring people back,\u201d she says. \u201cIt doesn\u2019t mean a full recovery overnight, but it reflects some positivity.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> A handful of airlines, including Emirates, EgyptAir, Air Arabia, and Qatar Airways have <a target=\"_blank\" href=\"https:\/\/today.lorientlejour.com\/article\/1504496\/emirates-and-egyptair-announce-return-to-lebanon-despite-cease-fire-uncertainties.html\" style=\"\">resumed service<\/a> to Beirut in the past few weeks, with plans to increase flight frequency if the ceasefire holds and demand picks up. <\/p>\n<p class=\"tag-border-left\">The survival playbook <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For now, travel and tourism players are looking to keep their head above water by <\/strong><strong>leaning on specific segments of travelers.<\/strong> The survival playbook also entails holding onto staff at almost any cost to avoid setting themselves up for failure down the road when demand picks up once again. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Niche demand to keep the lights on:<\/strong> \u201cWe\u2019re now relying on journalists working for international outlets who stay in the hotel to cover the conflict, along with UN and NGO personnel, to stay afloat,\u201d Flouty says. For other five-star hotels, demand is coming from embassy staff, airline crews, and corporate employees. That narrow band of travelers that\u2019s keeping higher-tier hospitality afloat is nowhere near enough to cover the costs, but it\u2019s keeping doors open. \u201cThese segments account for only around 20% of what would normally be full occupancy during a peak season, which hardly keeps the business going,\u201d Flouty explains. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mid-tier hotels, meanwhile, have an unexpected buffer. <\/strong>\u201cThree-and four-star hotels are holding up better \u2014 they host displaced families coming from the south,\u201d Alin Ghanem, managing director of Beirut-based travel agency Exclusive Services Group, tells EnterpriseAM. \u201cOnly around 5% of displaced people are staying in five-star hotels like M\u00f6venpick or Le Royal. Anyone who can afford USD 150-200 a night usually opts to rent an apartment for longer stays\u2026 That\u2019s why high-end hotels are taking the biggest hit. Stays are short. A journalist might come in for a day or two, then leave,\u201d she adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT- <\/strong>Beirut occupancy rates are currently in the range of 7-10%, occasionally edging up to around 12%, according to data picked up in the <a target=\"_blank\" href=\"https:\/\/en.akhbaralyawm.com\/news\/191761\/Lebanon-branded-%E2%80%98country-of-crises%E2%80%99-as-tourism-falters?utm_source=chatgpt.com\" style=\"\">local media<\/a> from Pierre Achkar, head of the Hotel Owners Association. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Businesses are also leaning on short-term expat and regional demand<\/strong>, which can move faster than international interest. Initial visitor flows are expected to originate from nearby regional markets \u2014 particularly Iraq, Qatar, Kuwait, Jordan, and Egypt \u2014 where proximity and flexible travel patterns traditionally support last-minute bookings. \u201cWe\u2019re hoping Eid Al Adha will help offset some losses. We\u2019re offering flexible terms \u2014 free cancellations, refunds, last-minute payments \u2014 otherwise people simply won\u2019t book visits,\u201d Ghanem says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>European tourists are a write-off \u2014 at least for now<\/strong>, our sources say. They tend to plan ahead, and a fragile ceasefire isn\u2019t enough to anchor their travel plans. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And even as things are looking very stop-and-go, industry players are doing their best to <\/strong><strong>stave off staffing cuts<\/strong>, which would gut the sector\u2019s ability to scale back up when demand returns. \u201cFor now, layoffs remain limited, but many hotels are cutting costs by putting staff on unpaid leave for a week or so every month. It\u2019s a way to reduce cost without losing people,\u201d Flouty says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Avoiding layoffs is both an act of self-preservation and an important move for the <\/strong><strong>country\u2019s economy as a whole<\/strong>, as some 20% of Lebanon\u2019s workforce is employed in the travel and tourism industry. \u201cLaying off skilled personnel isn\u2019t easy here. Once demand picks up again, it can take months to replace them, and the sector is already facing a shortage of experienced personnel, as many leave the country whenever conditions deteriorate,\u201d Flouty tells us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But holding on comes at a cost.<\/strong> \u201cThe longer this drags on, the harder it gets. Everyone is absorbing the costs, but there\u2019s a limit to how much each hotel can bear,\u201d she adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Gazing into the crystal ball<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cA clear and lasting ceasefire in the coming weeks could still rescue the summer season, <\/strong><strong>but it\u2019s unlikely to match previous levels<\/strong>, especially with elevated airfares,\u201d Nassib Ghobril, chief economist at Byblos Bank, tells EnterpriseAM. \u201cIf volatility persists, the peak months will take a direct hit\u2026 Those with dates in June have already been postponed or canceled, while others later in the season are still waiting after paying deposits and securing flights and hotels,\u201d he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Either way, some segments are already lost.<\/strong> Anything that needs planning lead time is essentially written off for the rest of the year. \u201cOne early sign: no major festivals, cultural or artistic, have been announced yet, even though planning would normally be underway by now,\u201d Ghobril adds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cAs long as the ceasefire remains fragile, we can\u2019t operate or market properly.<\/strong> And ins. is a major barrier \u2014 no company will cover travelers heading into a war zone,\u201d Ghanem said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Why the stakes are high<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While tourism is a natural victim of conflict, Lebanon\u2019s tourism industry entered the <\/strong><strong>crisis with no buffer left.<\/strong> \u201cTourism is always the first sector to take a hit when the security situation deteriorates,\u201d Ghobril says. Tourism and hospitality players in Lebanon are well-accustomed to stop-start cycles, but the last few years have layered repeat crises from a mix of internal dysfunction and repeated attacks from Israel, leaving businesses with no breathing room for recovery. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lebanese tourism hinges on momentum \u2014 one season feeding into the next<\/strong>, from the year-end holidays into a spring build-up ahead of the summer peak. This year, that sequence broke, disrupting not just leisure travel but the wider web of demand \u2014 from expatriate weddings and family reunions to conferences, exhibitions, and festivals. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The regional scope of the disruptions also makes it harder for Lebanon. <\/strong>\u201cIn the past, conflicts were more contained, and once they ended, we would see a quick rebound, particularly from Gulf visitors in Qatar and Kuwait. Now, the disruption is regional \u2014 and Gulf markets themselves are affected, which makes the recovery much more uncertain,\u201d Flouty says. Gulf-based travelers, whether Lebanese expatriates or GCC nationals, constitute a good chunk of the hospitality economy\u2019s customer base in Lebanon, we are told.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The downturn is rippling across the entire industry<\/strong> \u2014 hitting not just hotels, but the wider network of businesses that depend on visitor spending: restaurants, nightlife, taxis, and tourist sites are all suffering. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tourism and remittances are Lebanon\u2019s primary engines of growth and FX liquidity.<\/strong> With the collapse of tourism and an ongoing banking crisis, the impact ripples across the economy \u2014 with the Institute of International Finance (IIF) <a target=\"_blank\" href=\"https:\/\/portal.iif.com\/Security\/Members-Only-Content-Sign-in?returnurl=https%3a%2f%2fwww.iif.com%2fsso%3freturnurl%3d%252fpublications%252fid%252f6503\" style=\"\">describing<\/a> the sector\u2019s woes as the \u201cprimary driver\u201d of a forecasted GDP contraction of 12-16%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BY THE NUMBERS: <\/strong>Tourism revenues have averaged around USD 6 bn annually between 2002 and 2024, before slipping to roughly USD 4.7 bn in 2025. If you think that was a sharp drop, wait until you see the 2026 data in a few months. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/the-lede\/\">The Lede<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/tourism\/\">Tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"114782\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"114782\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">MARKETS + DEALS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/gulf-capital-markets-are-showing-signs-of-life-this-morning-even-as-the-war-shows-no-sign-of-ending\/\">\r\n                            Open the floodgates                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/gulf-capital-markets-are-showing-signs-of-life-this-morning-even-as-the-war-shows-no-sign-of-ending\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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And as we noted on Friday, Emirates NBD is about to wrap <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/04\/06\/emirates-nbd-is-one-step-closer-to-acquiring-indias-rbl-bank\/\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/04\/06\/emirates-nbd-is-one-step-closer-to-acquiring-indias-rbl-bank\/\" style=\"\">the largest cross-border GCC bank M&A<\/a> in a generation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The counterpoint: Stressors in the real economy are really starting to show.<\/strong> The UAE\u2019s IFFCO is heading to provisional liquidation with USD 2 bn of debt \u2014 and HSBC appears to be the one pulling the trigger.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Here\u2019s the rundown:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>IFFCO is heading to provisional liquidation<\/strong> \u2014 and this looks like the first major UAE family conglomerate of its profile to be taken to court by its own bank syndicate. An HSBC-led group of lenders, including several Dubai and Abu Dhabi banks, has <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/5da22110-795a-4c16-bb70-fae0dfbbd0e2?syn-25a6b1a6=1\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/5da22110-795a-4c16-bb70-fae0dfbbd0e2?syn-25a6b1a6=1\" style=\"\">nominated FTI Consulting<\/a> as provisional liquidator in courts in the Isle of Man and Singapore \u2014 the two jurisdictions where IFFCO\u2019s main legal entities sit. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The background: <\/strong>The conglomerate has more than 12k employees in 50 countries, USD 2 bn of debt, and product lines that include olive oil, biscuits, poultry, and animal feed. It\u2019s perhaps best known to most UAE residents as the operator of the London Dairy ice cream brand.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The trigger was a board reshuffle two weeks ago.<\/strong> IFFCO had been in <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/11\/20\/iffco-appoints-new-board-in-turnaround-sharjah-ruler-appoints-aisha-deemas-as-epaa-chair\/\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/11\/20\/iffco-appoints-new-board-in-turnaround-sharjah-ruler-appoints-aisha-deemas-as-epaa-chair\/\" style=\"\">restructuring talks for<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/11\/20\/iffco-appoints-new-board-in-turnaround-sharjah-ruler-appoints-aisha-deemas-as-epaa-chair\/\" style=\"\">months<\/a>: Alvarez & Marsal was the original adviser, replaced by Rothschild & Co a few months later. The company brought in an independent board under creditor pressure and dropped in a regional restructuring veteran. Two weeks ago, the founding Allana family restructured that independent board themselves. That move flipped lenders from negotiation to litigation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Watch this space: <\/strong>The optics of a major Emirati family conglomerate getting taken to court by its bankers \u2014 including its own home-market lenders \u2014 is a rare.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Gulf sukuk market is unfreezing.<\/strong> <strong>Saib<\/strong><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=94898&anCat=1&cs=1030&locale=en\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=94898&anCat=1&cs=1030&locale=en\" style=\"\">closed an SAR 1.85 bn AT1 sukuk at 6.5%<\/a> (Alistithmar and Al Rajhi Capital as joint leads), <strong>Alinma<\/strong><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=94879&anCat=1&cs=1150&locale=en\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=94879&anCat=1&cs=1150&locale=en\" style=\"\">kicked off<\/a> another SAR-denominated AT1 issuance under its SAR 5 bn private placement program (Alinma Capital and HSBC Saudi Arabia leading), and even smaller players like <strong>Intelligent Oud<\/strong> are <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=94876&anCat=1&cs=9579&locale=en\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=94876&anCat=1&cs=9579&locale=en\" style=\"\">moving forward<\/a> with public retail-and-institutional offerings. The signal: GCC bank capital appetite is recovering despite regional volatility. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates NBD reopened the regional AT1 market last week<\/strong>, <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/01\/emirates-prices-usd-750-mn-at1-issuance\/\" style=\"\">successfully pricing its USD 750<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/01\/emirates-prices-usd-750-mn-at1-issuance\/\" style=\"\">mn issuance<\/a> at 50 bps tighter than its initial guidance. The move marked the first re-entry by a GCC player into debt markets since the war began.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s GlobalCorp is up for sale<\/strong>, with anchor investors <strong>SPE Capital<\/strong>, <strong>Amethis<\/strong>, and <strong>EBRD<\/strong> lining up an exit that could see up to 100% of the homegrown non-bank financial services player change hands within two to four months, our Egypt desk confirms. Word on the street has the transaction valued at USD 200 mn (EGP 10.7 bn), against the EGP 914 mn the consortium paid for 90% in 2022. <strong>Arqaam Capital<\/strong> is quarterbacking, with more than half a dozen strategic and financial bidders circling \u2014 including a UAE-based bank that\u2019s been <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/companies\/103112\/%D8%AA%D8%AD%D8%A7%D9%84%D9%81-%D8%A8%D9%82%D9%8A%D8%A7%D8%AF%D8%A9-%D8%A3%D9%85%D9%8A%D8%AB%D9%8A%D8%B3-%D9%8A%D8%B9%D8%AA%D8%B2%D9%85-%D8%A7%D9%84%D8%AA%D8%AE%D8%A7%D8%B1%D8%AC-%D9%85%D9%86-%D8%BA%D9%84%D9%88%D8%A8%D8%A7%D9%84-%D9%83%D9%88%D8%B1%D8%A8-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9\/\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/companies\/103112\/%D8%AA%D8%AD%D8%A7%D9%84%D9%81-%D8%A8%D9%82%D9%8A%D8%A7%D8%AF%D8%A9-%D8%A3%D9%85%D9%8A%D8%AB%D9%8A%D8%B3-%D9%8A%D8%B9%D8%AA%D8%B2%D9%85-%D8%A7%D9%84%D8%AA%D8%AE%D8%A7%D8%B1%D8%AC-%D9%85%D9%86-%D8%BA%D9%84%D9%88%D8%A8%D8%A7%D9%84-%D9%83%D9%88%D8%B1%D8%A8-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9\/\" style=\"\">sniffing around<\/a> since last year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: <\/strong>A clean transaction here would be the second M&A validation for Egypt\u2019s financial services sector this year and a real shot in the arm for the local PE market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EFG Hermes has the Misr Life IPO mandate<\/strong>, named <a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/698625.pdf\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/698625.pdf\" style=\"\">sole global coordinator and bookrunner<\/a> by the Sovereign Fund of Egypt for the 20% float of the state-owned life insurer. That now makes it one of two hotly anticipated IPOs on deck in Egypt after Banque du Caire, where EFG Hermes and CI Capital are sharing duties. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s new competition law nearly triples the M&A review thresholds<\/strong> \u2014 a recognition that successive EGP devaluations had collapsed company valuations in USD terms, leaving the old thresholds catching small or competitively insignificant deals at the cost of regulatory bandwidth. Foreign acquirers of Egyptian targets now need combined global sales above EGP 15 bn (up from EGP 7.5 bn) and a target with sales above EGP 500 mn (up from EGP 200 mn) before mandatory review kicks in \u2014 clearing a wider lane for mid-market cross-border M&A. The law is on Sisi\u2019s desk; 90 days from signing to live.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt is heading back to Tokyo<\/strong> for a USD 500 mn Samurai bond expected this month or by early June, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/130980\/%D9%85%D8%B5%D8%B1-%D8%A8%D8%B5%D8%AF%D8%AF-%D8%A5%D8%B5%D8%AF%D8%A7%D8%B1-%D8%B3%D9%86%D8%AF%D8%A7%D8%AA-%D8%B3%D8%A7%D9%85%D9%88%D8%B1%D8%A7%D9%8A-%D8%A8%D9%86%D8%AD%D9%88-500-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%81%D9%8A-%D9%85%D8%A7%D9%8A%D9%88\/?utm_source=twitter&utm_medium=social&utm_campaign=asharq_business_egy_tw\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/130980\/%D9%85%D8%B5%D8%B1-%D8%A8%D8%B5%D8%AF%D8%AF-%D8%A5%D8%B5%D8%AF%D8%A7%D8%B1-%D8%B3%D9%86%D8%AF%D8%A7%D8%AA-%D8%B3%D8%A7%D9%85%D9%88%D8%B1%D8%A7%D9%8A-%D8%A8%D9%86%D8%AD%D9%88-500-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%81%D9%8A-%D9%85%D8%A7%D9%8A%D9%88\/?utm_source=twitter&utm_medium=social&utm_campaign=asharq_business_egy_tw\" style=\"\">a report suggests<\/a>. It would be the country\u2019s third Samurai issuance (after USD 500 mn each in March 2022 and November 2023) and its first under a sustainable finance framework, with the African Development Bank wrapping the deal with a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/afdb-signs-on-as-finmin-readies-international-debt-blitz\/\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/afdb-signs-on-as-finmin-readies-international-debt-blitz\/\" style=\"\">USD 400 mn partial credit guarantee<\/a> covering 80% of the issuance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>State-owned Omani bunkering logistics players O Bunkering and Marafi Services have <\/strong><strong>finalized a merger<\/strong> that will bring services from both players under the banner of O Bunkering. The move ultimately folds Marafi services under Oman\u2019s logistics giant <strong>Asyad Group<\/strong>, the parent company of O Bunkering. The merger comes a few weeks after the government <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/03\/30\/oman-takes-control-of-salamair-2\/\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/03\/30\/oman-takes-control-of-salamair-2\/\" style=\"\">folded<\/a> budget carrier Salam Air under flagship airline Oman Air in what looks like a wider push to consolidate state-owned logistics players.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ALSO WORTH KNOWING THIS MORNING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rokos Capital Management<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.adgm.com\/media\/announcements\/adgm-announces-rokos-capital-managements-abu-dhabi-office-opening-following-authorisation\" style=\"\"><\/a><\/strong><a target=\"_blank\" href=\"https:\/\/www.adgm.com\/media\/announcements\/adgm-announces-rokos-capital-managements-abu-dhabi-office-opening-following-authorisation\" style=\"\">opened in ADGM<\/a>, joining <strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/04\/16\/more-adgm-action-ihc-seals-pakistan-acquisition-another-dubai-international-chamber-office-in-asia-and-cbuae-rolls-out-e-kyc\/\" style=\"\">Bain Capital<\/a><\/strong> and <strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/04\/03\/this-morning-global-pe-firm-pushes-ahead-with-adgm-expansion-igcse-a-level-exams-also-scrapped\/\" style=\"\">Hillhouse<\/a><\/strong> from the past month. The news comes just a week after <strong>Citadel<\/strong> <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/29\/emirates-nbd-is-testing-appetite-for-an-at1-but-burjeel-thinks-investors-are-asking-too-much\/\" style=\"\">confirmed it\u2019s setting up in DIFC<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>e&<\/strong> has <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/1649.pdf\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/1649.pdf\" style=\"\">completed<\/a> its EUR 95 mn takeover of broadband operator UPC Slovakia via subsidiary O2 Slovakia, <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/12\/19\/another-acquisition-for-es-european-arm-ad-ports-expands-in-pakistan-and-tecom-launches-a-new-phase-in-dubai-internet-city-plus-adq-gates-to-invest-in-ai-education-for-africa\/\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/12\/19\/another-acquisition-for-es-european-arm-ad-ports-expands-in-pakistan-and-tecom-launches-a-new-phase-in-dubai-internet-city-plus-adq-gates-to-invest-in-ai-education-for-africa\/\" style=\"\">agreed last December<\/a>, continuing the international scaling that has also seen the UAE telecom take <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/05\/e-backed-pakistani-telco-now-owns-100-of-telenor-pakistan\/\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/05\/e-backed-pakistani-telco-now-owns-100-of-telenor-pakistan\/\" style=\"\">Telenor Pakistan<\/a> and a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/05\/e-expands-to-the-americas-through-its-wholesale-unit\/\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/05\/e-expands-to-the-americas-through-its-wholesale-unit\/\" style=\"\">Miami wholesale hub<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>O Gold<\/strong> \u2014 the UAE-based fractional gold and silver ownership app integrated into <strong>Botim<\/strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/08\/28\/botim-adds-o-golds-in-app-gold-trading\/\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/08\/28\/botim-adds-o-golds-in-app-gold-trading\/\" style=\"\">last<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/08\/28\/botim-adds-o-golds-in-app-gold-trading\/\" style=\"\">year<\/a> \u2014 has secured an undisclosed Silicon Valley check from Plug and Play Ventures, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/ogold-secures-strategic-investment-from-silicon-valleys-plug-and-play-ventures-to-scale-global-and-silver-ecosystem-bcizv46w\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/ogold-secures-strategic-investment-from-silicon-valleys-plug-and-play-ventures-to-scale-global-and-silver-ecosystem-bcizv46w\" style=\"\">per a release<\/a>, with proceeds going to international expansion and product rollout. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Udora<\/strong>, the UAE gifting startup, raised USD 10 mn <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2026\/04\/udora-secures-10-million-prepares-saudi-market-entry\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2026\/04\/udora-secures-10-million-prepares-saudi-market-entry\" style=\"\">in a private round<\/a> ahead of a Saudi market entry slated for 3Q. Funds also go to product expansion and AI integration.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> Market Snapshot<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadawul<\/strong> +0.1% \u2022 <strong>ADX<\/strong> +0.1% \u2022 <strong>DFM<\/strong> 0.0% \u2022 <strong>EGX30<\/strong> +1.1%<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Brent USD 108.38 \/ bbl \u2022 Gold USD 4,626 \/ oz \u2022 USD \/ SAR 3.75 \u2022 USD \/ EGP 53.60 <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/iffco\/\">IFFCO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/markets-deals\/\">Markets + Deals<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/sukuk\/\">sukuk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"114784\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"114784\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET STARTUP<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/saudi-tech-founders-want-to-ipo-but-at-least-half-of-them-arent-ready-for-it\/\">\r\n                            Ready Player None                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/saudi-tech-founders-want-to-ipo-but-at-least-half-of-them-arent-ready-for-it\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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And going public on Tadawul won\u2019t do anything to improve their international prospects. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s easy to chalk up the preference for going public in Riyadh as a sign of domestic <\/strong><strong>market maturity. That\u2019s what the boosters on Saudi Twitter will tell you, and they\u2019re not wrong. <\/strong>But listing at home comes with limitations: Saudi IPOs are tapping domestic capital. International growth investors, the ones who set the price for tech listings in mature markets, aren\u2019t part of the equation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s happening: <\/strong>Tadawul\u2019s upgrades have seen inflows from passive funds, but emerging-market fund managers aren\u2019t taking big positions in the Saudi market, which is anchored by domestic institutions \u2014 and where, for a generation, momentum has come from the chatter of retail investors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Saudi tech IPOs aren\u2019t doing their job<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi venture-backed IPOs come to market at a pre-IPO valuation of USD 545 mn<\/strong> \u2014 more than 2.5x the median across peer markets (India, Brazil, Indonesia, South Korea, Turkey, Hong Kong), the report notes. On valuation per USD invested, the Kingdom returns USD 3.10, fourth among that group. Capital intensity is high too: USD 215 mn per VC-backed company on average, second only to Brazil.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the gap between pre- and post-IPO valuations is just 6.99%.<\/strong> You can try to read that as pricing discipline, but what it means in practice is that companies aren\u2019t raising much new capital at listing. That\u2019s a problem for high-growth tech, where the IPO is supposed to fund the next phase, not just mark a milestone or give founders and early backers the chance to cash out some risk.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Governance is the other blocker.<\/strong> Around half of the firms surveyed admit their corporate structures don\u2019t yet meet listing requirements \u2014 they fall short on (or entirely lack) everything from risk management frameworks and independent board oversight to dedicated IR and legal leadership. The report\u2019s framing is sharper than the usual: founders need to treat IPOs as transformational rather than transitional \u2014 you don\u2019t bolt on governance the quarter before you list.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Only five VC-backed IPOs have hit Tadawul since 2020.<\/strong> That means the so-called alumni network that compounds in mature markets \u2014 founders mentoring founders, recycled capital, repeat listings \u2014 barely exists. There\u2019s no Saudi equivalent of the Careem or PayPal mafias, and those are the types of multiplier that the report points to as the prize over the next cycle. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And there\u2019s not much sense in focusing on the baby bourse: <\/strong>Nomu, Saudi\u2019s parallel market, has gone from nine listed companies in 2017 to roughly 125 today. The growth in absolute terms is real, but Nomu listings are less liquid and relatively few companies have yet made the leap from the baby bourse to the big show. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>With more than 80% of Saudi VC funding at the early stage<\/strong>, there\u2019s time for this all to work out \u2014 but the answer will be hard work for management teams and regulators alike, and a lot less time spent talking about what you\u2019re doing \u201cfor the ecosystem.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/ipo-watch\/\">IPO WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/planet-startup\/\">Planet Startup<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/venture-capital\/\">Venture Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"114786\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"114786\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Regulation<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/dubai-hub-expands-its-prescribed-company-regime-to-attract-more-global-capital\/\">\r\n                            Opening up                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/dubai-hub-expands-its-prescribed-company-regime-to-attract-more-global-capital\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/dubai-hub-expands-its-prescribed-company-regime-to-attract-more-global-capital\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/dubai-hub-expands-its-prescribed-company-regime-to-attract-more-global-capital\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Dubai hub expands its prescribed company regime to attract more global capital&url=https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/dubai-hub-expands-its-prescribed-company-regime-to-attract-more-global-capital\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/dubai-hub-expands-its-prescribed-company-regime-to-attract-more-global-capital\/&title=Dubai hub expands its prescribed company regime to attract more global capital\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Dubai+hub+expands+its+prescribed+company+regime+to+attract+more+global+capital+https%3A%2F%2Fenterpriseam.com%2Fmenaplus%2F2026%2F05%2F04%2Fdubai-hub-expands-its-prescribed-company-regime-to-attract-more-global-capital%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/dubai-hub-expands-its-prescribed-company-regime-to-attract-more-global-capital\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/897.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"114787\" data-permalink=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/dubai-hub-expands-its-prescribed-company-regime-to-attract-more-global-capital\/897-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/897.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"897.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/897.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/897.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-114786\" class=\"content-area-description single-story post-114786 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation tag-enterpriseam tag-investments tag-public-policy tag-regulation tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> DIFC, one of two financial services hubs in the UAE, is making key regulatory changes <\/strong><strong>that could <\/strong><strong>attract new types of firms <\/strong>at a time when capital flight is a major concern in the wake of the Iran war. The amendments would position the financial hub as a regional alternative to popular offshore jurisdictions, but with a regulated, tax-transparent framework.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> Other regional players are making a run at the \u201csafe haven\u201d pitch that has long defined the UAE\u2019s image as a welcoming hub for capital and talent. Turkey has been ramping up \u201csafe haven\u201d messaging in the last few weeks and is fast-tracking an <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/29\/former-banker-ali-al-zaidi-tapped-as-iraqs-new-prime-minister\/\" style=\"\">ambitious tax incentives package<\/a> that would slash taxes for services and manufacturing exporters, transit trade players, and foreign firms wanting to set up shop in the Istanbul Financial Center. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DIFC is looking to open up its prescribed company (PC) regime<\/strong> \u2014 a low-cost, lightly regulated holding structure pitched as a regional answer to Cayman or BVI SPVs \u2014 <strong>to make the regime globally accessible<\/strong>. A new <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/1644.pdf\" style=\"\">consultation paper (pdf)<\/a> proposes scrapping remaining eligibility restrictions tied to ownership, purpose, or geographic nexus, and <a target=\"_blank\" href=\"https:\/\/www.difc.com\/whats-on\/news\/difc-announces-consultation-of-amended-prescribed-company-regulations\" style=\"\">allowing<\/a> any applicant to set up a PC. Currently, you need to demonstrate a qualifying purpose (like a structured financing) or a nexus to DIFC (like being a GCC citizen or being controlled by a DIFC-registered entity). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The trade-off: <\/strong>Most PCs would have to appoint a DFSA-regulated corporate service provider to handle filings, maintain records, and act as the main compliance interface with the registrar. Existing PCs that don\u2019t qualify for exemption get six months to comply or face fines of up to USD 20k and potential loss of PC status, meaning conversion into a fully licensed DIFC entity with higher fees and office requirements.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/investments\/\">investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/public-policy\/\">Public policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/regulation\/\">Regulation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"114788\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"114788\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Regulation<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/egypt-slashes-exploration-rents-red-rape-to-attract-foreign-investment-in-mining\/\">\r\n                            Mining for investors                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/egypt-slashes-exploration-rents-red-rape-to-attract-foreign-investment-in-mining\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n 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exploration rents + red rape to attract foreign investment in mining&url=https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/egypt-slashes-exploration-rents-red-rape-to-attract-foreign-investment-in-mining\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/egypt-slashes-exploration-rents-red-rape-to-attract-foreign-investment-in-mining\/&title=Egypt slashes exploration rents + red rape to attract foreign investment in mining\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+slashes+exploration+rents+%2B+red+rape+to+attract+foreign+investment+in+mining+https%3A%2F%2Fenterpriseam.com%2Fmenaplus%2F2026%2F05%2F04%2Fegypt-slashes-exploration-rents-red-rape-to-attract-foreign-investment-in-mining%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/egypt-slashes-exploration-rents-red-rape-to-attract-foreign-investment-in-mining\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/153.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"114789\" data-permalink=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/egypt-slashes-exploration-rents-red-rape-to-attract-foreign-investment-in-mining\/153-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/153.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"153.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/153.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/153.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-114788\" class=\"content-area-description single-story post-114788 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation tag-egypt tag-enterpriseam tag-mining tag-regulation wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt really, really wants big mining outfits to take it seriously. <\/strong>Global majors have long been curious, with Pharaonic gold mines having literally just scratched the surface of the country\u2019s mineral potential, which extends from precious metals to rare earths. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Surveys now underway are using drones and AI to map out the contours of ancient <\/strong><strong>mines<\/strong> \u2014 and <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02TUbfx3Z5Mpz9sLVLX6VNchKXB3tozHVW8uweJU6RsdqoTBmT5KMhrykYyciTRkdCl\" style=\"\">policymakers are pushing ahead with a second round of changes to industry regulations<\/a> that had previously been a massive barrier to foreign interest in the industry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The latest fix: A new round of changes to industry regulations that slash exploration <\/strong><strong>rents by up to 60%<\/strong>, cut the newly rebranded Mineral Resources and Mining Industries Authority\u2019s joint-venture stake to 10% from 25%, and promise players 30-day turnaround cycles on key approvals. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other highlights: <\/strong>Companies will be allowed to work multiple ore types in a single concession; there\u2019s a clear royalty framework for ores not previously listed; new lab licensing rules aim to ensure there\u2019s a domestic testing and analysis industry that players can count on; and miners will be able to file applications and pay fees via the Egypt Mining Portal.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It looks like EMRA is gearing up for an international charm offensive: <\/strong>The rule changes give the regulator the authority to open branch offices abroad as well as inside Egypt \u2014 clearing the way for it to pitch international investors in general and Gulf players in particular. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters.<\/strong> Mining contributes about 1% of Egypt\u2019s GDP. With a target of 5-6% by 2030, there\u2019s a gap that won\u2019t close without significant foreign capital. The reforms from 2019 and 2020 saw the industry\u2019s economics shift from production-sharing to royalty-tax \u2014 but the result was thin follow-through on the ground after a promising bid round. Centamin\u2019s Sukari gold mine \u2014 the industry\u2019s pathfinder \u2014 is still the only foreign-operated project at meaningful scale.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The competition is regional:<\/strong> Saudi Arabia has put mining at the centre of Vision 2030, with a 2020 law overhaul and a sustained promotion campaign anchored by the Future Minerals Forum. Egypt has the geology and a lower cost base. The question is whether the regulator can clear projects at the speed it\u2019s now promising \u2014 the 30-day approvals clause is where Egyptian bureaucracy usually wins.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What to watch.<\/strong> Spain\u2019s Xcalibur Smart Mapping starts Egypt\u2019s next big comprehensive airborne geological survey this coming June. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>Egypt used to run mining like petroleum \u2014 and the two don\u2019t operate on the same clock. Oil and gas can live with production-sharing because capex is bounded and discoveries reach cash flow fast. Mining can\u2019t: Exploration cycles run a decade or more, most prospects come up dry, and the rare hits have to carry the cost of everything that didn\u2019t. The 2019-2020 reforms moved Egypt to a royalty-and-tax model in line with global standards, but EMRA\u2019s 25% stake, single-mineral concessions, and high upfront rents capped interest. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/mining\/\">mining<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/regulation\/\">Regulation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"114790\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"114790\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/mscs-new-intermodal-route-to-connect-europe-to-gcc-via-saudi-land-bridges\/\">\r\n                            No Hormuz, no problem                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/mscs-new-intermodal-route-to-connect-europe-to-gcc-via-saudi-land-bridges\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/mscs-new-intermodal-route-to-connect-europe-to-gcc-via-saudi-land-bridges\/')\">\n                    Copy 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src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/mscs-new-intermodal-route-to-connect-europe-to-gcc-via-saudi-land-bridges\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/111.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"114791\" data-permalink=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/mscs-new-intermodal-route-to-connect-europe-to-gcc-via-saudi-land-bridges\/111-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/111.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"111.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/111.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/111.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-114790\" class=\"content-area-description single-story post-114790 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseam tag-gcc tag-logistics tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">The name of the game is intermodal<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shipping giant MSC is set to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.msc.com\/en\/newsroom\/news\/2026\/may\/europe-red-sea-middle-east-express\" style=\"\">launch<\/a><\/strong><strong> a Europe-Red Sea-Middle East express service on 10 <\/strong><strong>May<\/strong>, giving Europe-origin cargo a direct Red Sea gateway into Saudi Arabia before onward movement to the UAE and Upper Gulf via inland trucking and feeder maritime connections. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Formalizing the intermodal bypass: <\/strong>MSC had already been <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/11\/today-is-the-tanker-market-now-pricing-risk-more-than-cargoes\/\" style=\"\">pushing Asia-to-Gulf cargo<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/11\/today-is-the-tanker-market-now-pricing-risk-more-than-cargoes\/\" style=\"\">inland<\/a> \u2014 connecting King Abdullah and Jeddah to ports in the Arabian Gulf with its Dragon and Jade services, giving cargo another route into Asian markets without relying on the disrupted Strait of Hormuz.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AD Ports could soon land on the ground in Azerbaijan<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AD Ports Group and Azerbaijan\u2019s Azcon Holding <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.adportsgroup.com\/en\/news-and-media\/2026\/04\/29\/ad-ports-group-and-azcon-holding-sign-mou-in-azerbaijan\" style=\"\">signed an MoU<\/a><\/strong><strong> to explore joint <\/strong><strong>investments in ports, shipping, and digital trade hubs <\/strong>in Azerbaijan. The agreement comes a few weeks after the two countries\u2019 trade and economic partnership agreement <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/logistics\/2026\/04\/16\/uae-azerbaijans-comprehensive-economic-partnership-agreement-is-live\/\" style=\"\">officially entered into force<\/a>. The CEPA aims to eliminate or reduce tariffs on 95% of goods and includes a dedicated services chapter designed to stimulate supply-chain integration. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi has been expanding its reach across the Middle Corridor<\/strong> \u2014 this month, AD Ports signed <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/logistics\/2026\/04\/15\/today-nigeria-morocco-pipeline-back-in-play-as-gas-demand-builds\/\" style=\"\">a strategic agreement<\/a> with Romania\u2019s National Company Maritime Ports Administration to modernize the Port of Constan\u021ba, which is a European gateway for cargo from the Caspian Sea and Central Asia. AD Ports is also active in Kazakhstan, with joint ventures spanning <a target=\"_blank\" href=\"https:\/\/www.adportsgroup.com\/en\/news-and-media\/2025\/07\/09\/ad-ports-group-and-kazakhstan-railways-commence-operations-of-gulflink-joint-venture\" style=\"\">rail<\/a> and <a target=\"_blank\" href=\"https:\/\/www.adportsgroup.com\/en\/news-and-media\/2025\/01\/14\/ad-ports-group-to-invest-in-greenfield-sarzha-grain-terminal-in-kuryk-port-kazakhstan\" style=\"\">ports<\/a> projects. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Board seat denied<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Cairo Economic Court is backing EGX-listed Juhayna\u2019s decision to block Qatari dairy <\/strong><strong>rival Baladna from seeking board representation<\/strong>, Juhanya said in a statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The court upheld Juhayna\u2019s decision to bar Baladna\u2019s candidate from standing for <\/strong><strong>election to the company\u2019s board of directors<\/strong>, citing what it said was a \u201cviolation of competition standards and anti-monopoly regulations.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s the latest exchange in a testy minority-rights battle <\/strong>that has so far had no impact on bilateral ties between Doha and Cairo. Egypt\u2019s Financial Regulatory Authority <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/24\/juhayna-drops-competitor-clause-after-fra-intervention-clearing-path-for-baladnas-board-push\/\" style=\"\">in December<\/a> struck down a competitor clause in the company\u2019s articles of association that Juhayna had designed to prevent Baladna from seeking a board seat. Baladna has been the <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/07\/04\/qatars-baladna-now-owns-15-of-juhayna\/\" style=\"\">second-largest shareholder in Juhayna since 2022<\/a> with a 16% share of the company. The founding Thabet family\u2019s Pharon Investment holds just over 50%.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/gcc\/\">GCC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/logistics\/\">LOGISTICS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"114792\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"114792\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/regional-air-travel-is-beginning-to-normalize\/\">\r\n                            Cleared for takeoff                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/regional-air-travel-is-beginning-to-normalize\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/regional-air-travel-is-beginning-to-normalize\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/regional-air-travel-is-beginning-to-normalize\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Regional air travel is beginning to normalize&url=https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/regional-air-travel-is-beginning-to-normalize\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/regional-air-travel-is-beginning-to-normalize\/&title=Regional air travel is beginning to normalize\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Regional+air+travel+is+beginning+to+normalize+https%3A%2F%2Fenterpriseam.com%2Fmenaplus%2F2026%2F05%2F04%2Fregional-air-travel-is-beginning-to-normalize%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/regional-air-travel-is-beginning-to-normalize\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/830.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"114793\" data-permalink=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/regional-air-travel-is-beginning-to-normalize\/830-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/830.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"830.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/830.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/830.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-114792\" class=\"content-area-description single-story post-114792 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking tag-aviation tag-bahrain tag-enterpriseam tag-kuwait tag-logistics tag-qatar tag-uae tag-war-watch tag-what-were-tracking wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Watch this space<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>A spate of airlines is steadily restoring their schedules as security conditions continue to<\/strong><strong> improve over the course of the fragile US-Iran ceasefire.<\/strong> In Kuwait, <a target=\"_blank\" href=\"https:\/\/www.gdnonline.com\/Details\/1393428\/Jazeera-Airways-resumes-full-operations-from-T5-in-Kuwait-Airport-\" style=\"\">Jazeera<\/a> and <a target=\"_blank\" href=\"https:\/\/kuwaittimes.com\/article\/43082\/kuwait\/kuwait-airways-resumes-flights-to-13-destinations-from-kuwait-intl-airport\/\" style=\"\">Kuwait Airlines<\/a> resumed full operations at the Kuwait International Airport yesterday, while the UAE officially <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/uae-says-air-traffic-back-normal-after-precautionary-measures-lifted-2026-05-02\/\" style=\"\">ended<\/a> what\u2019s left of its airspace restrictions, some of which had remained in place for foreign carriers over the last two months despite a limited but steady activity for UAE carriers. Meanwhile, Indian carriers also <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/01\/this-afternoon-enbd-nears-rbl-takeover-after-sebi-nod-india-plans-to-add-62-vessels-to-its-commercial-fleet\/\" style=\"\">staged<\/a> a return to Bahraini and Qatari airports over the weekend. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Caution still prevails:<\/strong> The Indian embassy in Doha <a target=\"_blank\" href=\"https:\/\/x.com\/IndEmbDoha\/status\/2049580930008842714?s=20\" style=\"\">cautioned<\/a> that flight schedules remain subject to the region's fragile security situation, whereas the UAE said real-time monitoring remains in place, suggesting a wait-and-see approach rather than a full risk reset. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The easing of restrictions means more seats for any given destination, potentially <\/strong><strong>creating<\/strong><strong> downward pressure on record-high fares<\/strong>, but any reductions would be limited due to the surge in jet fuel prices. Fares for long-haul routes, however, are <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/uae\/airspace-reopens-fares-eid-al-adha-break-summer-ease\" style=\"\">likely to lag<\/a>. Assuming a truce that holds, prices are expected to normalize in August. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>Enter the next likely target of US sanctions against Iran: Nobitex. <\/strong>Despite avoiding a spate of Western sanctions against Iran over the last few years, Iranian crypto trading platform Nobitex is coming under the spotlight after a Reuters investigation revealed that it was founded by two siblings from the well-connected Kharrazi family. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This could be bad news for Iran as the US ramps up efforts to crack down on the <\/strong><strong>crypto workaround<\/strong>, with about 70% of Iran\u2019s crypto transactions taking place on Nobitex. The platform serves as a key \u201cbridge to global crypto markets,\u201d helping ordinary Iranians and regime-affiliated entities move money around the US-controlled global financial system. Earlier in April, the US Treasury <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/27\/oman-mulls-a-joint-investment-fund-with-kazakh-sovereign\/\" style=\"\">froze<\/a> some USD 344 mn in crypto assets linked to Iran\u2019s central bank. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nobitex remained online even during the government-imposed internet shutdowns as the <\/strong><strong>war raged on<\/strong>, moving around USD 100 mn, or 20% of its usual transactions, Reuters reports, citing data from the investigative firm Crystal Intelligence. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Sign of the times<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>The region\u2019s digital recovery is going to be a long haul:<\/strong> Amazon\u2019s restoration of its cloud operations in the UAE and Bahrain following <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/03\/03\/dubais-data-center-outage-exposes-vulnerable-region-ecosystem\/\" style=\"\">damage from drone strikes<\/a> earlier in the conflict <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/amazon-says-damaged-uae-cloud-region-recovery-take-several-months-2026-04-30\/\" style=\"\">will take several months<\/a>. The tech giant has suspended billing for affected customers in the region as it grapples with the physical aftermath of the conflict.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The current state of play: <\/strong>AWS\u2019s service health dashboard currently lists 37 services across both countries as disrupted. The company is advising clients to migrate accessible workloads to other global regions or restore from remote backups. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/bahrain\/\">Bahrain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/kuwait\/\">Kuwait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/logistics\/\">LOGISTICS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/war-watch\/\">WAR WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/what-were-tracking\/\">WHAT WE\u2019RE TRACKING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"114794\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/114794\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-114794\" class=\"content-area-description single-story post-114794 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">May 2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">12 May<\/span><span style=\"\"> \u2014 Qatar Economic Forum (through 14 May).<\/span><span style=\"\"> Qatar<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">21 May<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">Egypt<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">25 May<\/span><span style=\"\"> \u2014 Independence Day (public holiday, markets closed). <\/span><span style=\"\">Jordan<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">27-30 May<\/span><span style=\"\"> \u2014 Eid Al Adha (public holiday, markets closed). <\/span><span style=\"\">Region-wide<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">28 May<\/span><span style=\"\"> \u2014 Saudi Aramco ex-dividend date. <\/span><span style=\"\">Saudi Arabia<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">June 2026<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">7 June<\/span><span style=\"\"> \u2014 OPEC+ ministerial meeting. <\/span><span style=\"\">Vienna\/Virtual<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">9 June<\/span><span style=\"\"> \u2014 King Abdullah II Accession Day (public holiday, markets closed). <\/span><span style=\"\">Jordan<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">10\u201314 June <\/span><span style=\"\">\u2014 Syria Buildex International Construction Exhibition. <\/span><span style=\"\">Syria<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">16-17 June<\/span><span style=\"font-weight:400;\"> \u2014 US Federal Reserve Open Market Committee meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">July 2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">5 July<\/span><span style=\"\"> \u2014 Independence Day (public holiday, markets closed). <\/span><span style=\"\">Algeria<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">9 July<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">Egypt<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">14 July<\/span><span style=\"\"> \u2014 Republic Day (public holiday, markets closed). <\/span><span style=\"\">Iraq<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">23 July<\/span><span style=\"\"> \u2014 Revolution Day (public holiday, markets closed). <\/span><span style=\"\">Egypt<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">25 July<\/span><span style=\"\"> \u2014 Republic Day (public holiday, markets closed). <\/span><span style=\"\">Tunisia<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">28-29 July<\/span><span style=\"font-weight:400;\"> \u2014 US Federal Reserve Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">30 July<\/span><span style=\"\"> \u2014 Throne Day (public holiday, markets closed). <\/span><span style=\"\">Morocco<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">August 2026<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">13 Aug<\/span><span style=\"\"> \u2014 Women\u2019s National Day. <\/span><span style=\"\">Tunisia<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">20 Aug<\/span><span style=\"\"> \u2014 Revolution of the King and the People Day (public holiday, markets closed). <\/span><span style=\"\">Morocco<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">20 Aug<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">Egypt<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">21 Aug<\/span><span style=\"\"> \u2014 Youth Day (public holiday, markets closed). <\/span><span style=\"\">Morocco<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">25 Aug<\/span><span style=\"\"> \u2014 Prophet\u2019s Birthday (public holiday, markets closed) \u2014 TBD. <\/span><span style=\"font-weight:400;\">Region-wide<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">31 Aug-3 Sep<\/span><span style=\"\"> \u2014 LEAP technology conference.<\/span><span style=\"font-weight:400;\"> Saudi Arabia <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">September 2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">7-9 Sep<\/span><span style=\"\"> \u2014 AIM Congress. <\/span><span style=\"\">UAE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">15-16 Sep<\/span><span style=\"font-weight:400;\"> \u2014 US Federal Reserve Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">15 Sep<\/span><span style=\"\"> \u2014 <\/span><span>IMF\u2019s eighth review of Egypt\u2019s USD 8 bn EFF arrangement. <\/span><span style=\"\">Egypt<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">16-17 Sep<\/span><span style=\"\"> \u2014 Middle East Banking Innovation Summit. <\/span><span style=\"\">UAE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">23 Sep<\/span><span style=\"\"> \u2014 National Day (public holiday, markets closed). <\/span><span style=\"\">Saudi Arabia<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">24 Sep<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">Egypt<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">30 Sep-3 Oct<\/span><span style=\"\"> \u2014 Cityscape Egypt 2026. <\/span><span style=\"\">Egypt<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">October 2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">3 Oct<\/span><span style=\"\"> \u2014 National Day (public holiday, markets closed). <\/span><span style=\"\">Iraq<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">6 Oct<\/span><span style=\"\"> \u2014 Armed Forces Day (public holiday, markets closed). <\/span><span style=\"\">Egypt<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">15 Oct<\/span><span style=\"\"> \u2014 GCC Made in the Gulf Forum + Exhibition. <\/span><span style=\"\">TBD<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">25 Oct<\/span><span style=\"\"> \u2014 Liberation Day (public holiday, markets closed). <\/span><span style=\"\"> Libya<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">25-27 Oct<\/span><span style=\"\"> \u2014 World Investment Forum 2026. <\/span><span style=\"\">Qatar<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">26-29 Oct<\/span><span style=\"\"> \u2014 Future Investment Initiative.<\/span><span style=\"\"> Saudi Arabia<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">27-28 Oct<\/span><span style=\"font-weight:400;\"> \u2014 US Federal Reserve Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">29 Oct<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">Egypt<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">November 2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">1 Nov<\/span><span style=\"\"> \u2014 Revolution Anniversary (public holiday, markets closed). <\/span><span style=\"font-weight:400;\">Algeria<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2 Nov<\/span><span style=\"\"> \u2014 Abu Dhabi International Petroleum Exhibition + Conference (ADIPEC) opens (through 5 Nov). <\/span><span style=\"\">UAE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">6 Nov<\/span><span style=\"\"> \u2014 Green March Anniversary (public holiday, markets closed). <\/span><span style=\"\">Morocco <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">16 Nov<\/span><span style=\"\"> \u2014 Cityscape Global begins (through 19 Nov). <\/span><span style=\"font-weight:400;\">Saudi Arabia <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">December 2026<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">17 Dec<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">Egypt<\/span> <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>A narrow recovery window for Lebanon\u2019s tourism | A busy morning for financial markets | Egypt wants to attract global mining majors | Regional air travel begins to normalize<\/p>\n","protected":false},"featured_media":114778,"menu_order":0,"template":"","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-114777","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"1e3fc58a-0e90-4eb9-9450-56957bc5cec4","teaser":"A narrow recovery window for Lebanon\u2019s tourism | A busy morning for financial markets | Egypt wants to attract global mining majors | Regional air travel begins to normalize","photo_url":"https:\/\/ent.news\/2024\/5\/2315.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium 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