Good morning, ladies and gentlemen. We have a brisk issue for you this morning, leading with the closing of KELIX bio’s acquisition of DiabTec.

^^ We have the details on this story and others in this morning’s news well, below.

☁️WEATHER- We’re in for a cloudy (and possibly rainy) end to the week: The National Center of Meteorology forecasts (pdf) partly cloudy conditions, with a chance of light rainfall in northern areas until Monday. Temperatures today will hit 24°C in Dubai, with an overnight low of 17°C, and 21°C in Abu Dhabi, before cooling to an overnight low of 19°C.

WATCH THIS SPACE-

#1- Adnoc Gas deploys new carbon capture tech with Baker Hughes and Levidian: Adnoc Gas, in collaboration with Texas-based Baker Hughes and British climate tech firm Levidian, installed Levidian’s patented Loop technology at the Habshan Gas Processing Plant — the first operational gas processing site globally to deploy this innovation, Adnoc said in a statement.

What is LOOP technology? This technology captures carbon from methane and converts it into graphene and hydrogen. The pilot LOOP unit has a dual-purpose design, capable of generating over 1 tonne per annum (tpa) of graphene and 1 tpa of hydrogen. Future industrial-scale installations are expected to deliver 15 tpa.

What’s next? Data gathered from the pilot will be used to support AI modeling and digital twin technologies, optimizing energy use and graphene yield in future LOOP deployments. Adnoc’s Technology team will assess the graphene produced to explore its potential applications.

#2- Enec eyes global expansion: The Emirates Nuclear Energy Corporation (Enec) plans to expand internationally after completing the Barakah Nuclear Energy Plant last year, CEO Mohamed Al Hammadi tells Asharq Business. The company is in talks to develop projects worldwide and is focused on the US, the Global South, Europe, and the Philippines.

#3- MyGroup Holding plans to invest AED bns in the UAE market in 2025, according to astatement. This investment aims to expand its operations in Dubai across sectors including retail, services, logistics, energy, construction, and telecommunications. The specific amount of the investment is not disclosed.

#4- The UAE has agreed to roll over two USD 1 bn deposits owed by Pakistan for an additional year, Reuters reports, citing a statement from Pakistan’s central bank. The deposits were set to mature this month.

#5- Saudi-backed PFL eyes expansion into the UAE: The Professional Fighters League (PFL), a mixed martial arts organization with significant Saudi backing, is looking to broaden its footprint in the region, with talks underway to host events in Dubai and Qatar, PFL founder and Chairman Donn Davis tells Bloomberg.

#6- Masdar will move its global headquarters to The Link, a 30k sqm sustainable development in Masdar City, this year, Wam reports. Announced during Abu Dhabi Sustainability Week, The Link will feature five commercial and residential buildings, including the region’s first net-zero energy shared living and working spaces, alongside offices, co-working areas, and a visitor center.

DATA POINTS-

#1- The UAE is home to 53% of family offices in the region, with Dubai identified as the primary financial hub for these offices, where over 30% of their investable assets are located, according to HSBC’s latest Family Office Landscape in MENA report (pdf). The report indicates that family businesses contribute some 60% of regional GDP.

The average liquidity held by family offices in the MENA region is reported at 18%, twice that of counterparts in North America and Europe. Real estate constitutes 34% of family wealth in the region, while investments in public and private equities are notably lower. Family offices are also beginning to explore investments in cryptocurrencies and commodities.

#2- Ras Al Khaimah Tourism Development Authority (RAKTDA) reported a record 1.28 mn overnight arrivals in 2024, marking a 12% increase in tourism revenues, Wam reports.The number of meetings, incentives, conferences, and exhibitions visitors rose by 15%. RAKTDA aims to attract over 3.5 mn annual visitors by 2030.

Key factors contributing to this growth included, the opening of new hotels and resorts, enhanced connectivity to Ras Al Khaimah International Airport, and over 2.2k international activities across 70 cities.

Dubai International Airport was named the busiest international airport in 2024, with a total of 60.2 mn airline seats, reflecting a 7% increase from the previous year, according to OAG Busiest Airports in the World report. This figure also marks a 12% increase compared to 2019.

HAPPENING TODAY-

The Abu Dhabi Sustainability Week (ADSW) kicked off on Sunday and runs through to tomorrow at the Abu Dhabi National Exhibition Center. The event features 11 events gathering policymakers, industry leaders, and youth to discuss global sustainability solutions and foster collaborations.

THE BIG STORY ABROAD-

It’s a relatively mixed bag in the international press this morning, but news that Israel delayed its vote on its initial ceasefire agreement with Hamas is broadly leading the conversation. Israeli Prime Minister Benjamin Netanyahu reportedly blamed the delay on Hamas, saying the group failed to honor parts of the provisional agreement. The country’s cabinet is also holding off on a vote until the final details of the provisional agreement are ironed out, Netanyahu said. The vote is reportedly still on track to happen over the weekend, allowing the ceasefire to take effect on Sunday.

Deep divides in Israeli cabinet: The three-phase ceasefire agreement — which was announced on Wednesday — has been met with resistance from several members of the Israeli cabinet, although it is broadly expected that it will be approved. Hardliner National Security Minister Itamar Ben Gvir threatened to quit and withdraw his party from the coalition government over the ceasefire agreement. The story is on the front pages of the Financial Times, the Wall Street Journal, Reuters, the New York Times, and Bloomberg.

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MARKET WATCH-

Middle East crude spot premiums hit a two-year high this week, driven by strong demand from China and India, which are seeking to replace sanction-hit Russian and Iranian oil supplies, Reuters reports. The spike comes as the Biden administration imposed new sanctions on Russian producers and tankers, further tightening global supply and vessel availability. This has led to a rush among top importers China and India to secure alternative sources and tankers.

CIRCLE YOUR CALENDAR-

The Global Government Cloud Forum will take place on 21 January in the Museum of the Future in Dubai. The forum will see participation from government representatives, private sector organizations, think tanks, and international organizations, including the World Bank’s Cloud Computing Working Group. It includes keynotes, panel discussions, and workshops to facilitate collaboration and knowledge exchange pertaining to cloud-enabled public administration.

The International Conference on Pharma and Medicine will take place between 21-23 January at the Sharjah Research, Technology, and Innovation Park. The event offers a platform for potential collaboration in the pharma manufacturing and healthcare sectors.

The Sharjah Real Estate Exhibition (Acres) will take place between 22-25 January at the Expo Center in Sharjah. The event features networking and business prospects in the property sector, face-to-face discussions with developers and industry experts, and exploration of the latest trends in real estate.

Nvidia RTX AI GameCraft will take place on 23 January at Emirates Towers Boulevard in Dubai. Hosted by the Dubai Future Foundation in collaboration with Nvidia GeForce Middle East, the event will gather game developers, students, and industry professionals to create innovative games using Nvidia’s RTX AI technology. Some 15 developers will make it to the finals to compete for the top three spots.

BreakBulk Middle East will take place between 10-11 February at the Dubai World Trade Center. The event will gather over 7.5k professionals from the manufacturing, EPCs, project ownership, and transport sectors, providing ample networking prospects and driving potential customer leads.

The World Local Production Forum will take place between 7-9 April at the Abu Dhabi National Exhibition Center. The World Health Organization event will bring together global leaders to discuss sustainable local production and strategies to enhance access to quality health products.

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

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