Earnings season rolls on + Ras Al Khaimah Art Festival begins today

Happy Friday, ladies and gentlemen. It’s a surprisingly mellow end to the week, primarily bringing us more earnings.

THE BIG STORY here at home, other than the onslaught of earnings season? S&P Global thinks UAE banks are well-positioned for growth this year as the continued growth of the country’s non-oil economy drives an uptick in demand for credit.

^^ The rundown of what S&P has to say is in this morning’s news well below.

PUBLIC SERVICE ANNOUNCEMENT-

Emirates Post is now 7X: Emirates Post Group Company (EPG) has rebranded itself as 7X, representing “the seven emirates to the seven continents and across the seven seas,” 7X chairman Badr Salim Sultan Al Olama said on X.

WATCH THIS SPACE-

#1-More taxis at DXB airport: The Dubai Taxi Company doubled its fleet at the Dubai International Airport, adding 350 new taxis, in hopes of increasing trips by 30% and reducing waiting times, according to a press release (pdf).

#2- Tecom to expand Dubai office space portfolio: Business district developer TecomGroup is eyeing new commercial property development projects, acquisitions, and land purchases to expand its portfolio, CEO Abdulla Belhoul told reporters, according to Bloomberg. The expansion plans come amid a global commercial real estate slump, while Dubai rentals for office spaces are expected to climb 10-15% y-o-y in 2024 as new market entrants continue to pour into the emirate.

DATA POINT-

The UAE’s cybersecurity sector is valued at around AED 1.5 bn, head of Cybersecurity Mohamed Al Kuwaiti told CNN, adding that there were over 50k cyberattacks during 2023.

HAPPENING TODAY-

#1-The Family Office Roundtable (FORT) Global kicks off today at the Museum of the Future, according to a press release. The invite-only event will center discussions on the international finance and investment communities, influential family offices, government members and dignitaries, with nearly 10k guests, hailing from over 35 countries.

#2- Ras Al Khaimah’s Art 2024 Festival opens its doors today. The exhibition will run until Thursday, 29 February, under the theme “In Motion,” with the outdoor show extending until Sunday, 31 March. The to-do list includes special exhibits, film screenings, and live performances.

#3- Young entrepreneurs can pitch early-education startup ideas at the AbuDhabi Youth Challenge: Techstars Startup Weekend, running for three days from Friday, 2 February, to Sunday, 4 February at Cloud Spaces ADGM in Abu Dhabi. The top three teams will get AED 30k.

HAPPENING TOMORROW-

The Sharjah Entrepreneurship Festival 2024will take place at the Sharjah Research Technology and Innovation Park tomorrow and Sunday. The event will feature over 100 global startups and host 200 speakers from 15 countries, including Riyadh Governor, Prince Faisal bin Bandar, Emaar Properties Chairman, Mohammed Alabbar, and a number of others.

The Mubadala Abu Dhabi Tennis Open will take place from tomorrow to Sunday, 11 February at Zayed Sports City's International Tennis Centre. The tournament will feature big names including four-time Grand Slam champion Naomi Osaka, Elena Rybakina, Ons Jabeur, Maria Sakkari, and Barbora Krejčíková, The National reports.

CIRCLE YOUR CALENDAR-

Investors and startups with sustainable solutions can now apply to Dubai Holding’s Innovate for Tomorrow challenge, which will provide the selected company with a rewards package and funding. Ideas can range from solutions for economic circularity, resource efficiency and supply chain sustainability to waste reduction and consumer education, according to the Dubai Media Office. The selected idea will get access to Tecom Group’s in5 business incubator, and will get the chance to implement the idea through a pilot program with Dubai Holding. Applications can be submitted here until 31 March.

The Middle East Bunkering Convention will take place from Monday, 5 February through to Wednesday, 7 February at the Hilton Dubai Jumeirah. The event will bring together industry players to discuss issues in the global marine fuel sector, including supply chains, decarbonization, and new fuels.

The UAE Tour Women is happening from 8-11 February starting in Dubai and ending in Abu Dhabi. The event will feature three sprint stages and a mountain climb up Jebel Hafeet, spanning 468 km from Dubai to Abu Dhabi.

The Sustainable Aviation Futures MENA will kick off on Monday, 12 February through to Wednesday, 14 February at Kempinski Central Avenue. The event will see 80 speakers and upwards of 200 attendees discuss regulation, financing, and investments in sustainable aviation fuels in MENA.

Dubai will host the World Government Summit from Monday, 12 February, to Wednesday, 14 February. The summit, with the central theme of daily implications of AI, will include 15 AI-centered conferences, and an annual gathering for the Time 100 AI list. OpenAI CEO Sam Altman will be among the speakers headlining the event, Gulf News reports. President Sheikh Mohamed bin Zayed Al Nahyan invited Qatar Emir Sheikh Tamim bin Hamad Al Thani to attend the summit, according to a Foreign Ministry statement.

Dubai will also host the Future Warehouse & Logistics 2024 Conference from Monday, 12 February to Wednesday, 14 February. On the agenda: How to boost resilience and overcome challenges, with discussions on disruptions, sustainability, internet of things, automation, workplace management and other topics.

Breakbulk Middle East 2024 will take place from Monday, 12 February, to Tuesday,13 January, in Dubai. The event is being hosted by the Ministry of Energy and Infrastructure to address industry challenges and identify prospects for growth in the UAE, KSA, and East Africa.

The Investopia Summit will take place from Wednesday, 28 February, to Thursday, 29 February, in Abu Dhabi. The two-day event will run under the theme “Emerging Economic Frontiers: Investing in Fast-Growing Sectors in the New Economy,” gathering investors, government officials, and entrepreneurs to explore investments in strategic markets.

Check out our full calendar at the bottom of the email for a comprehensive listing of upcoming news events, national holidays and news triggers.