Good morning, friends, and happy FRIDAY. We have a brisk issue for you to wrap up the week. First up, DFM-listed Dubai Investments is planning to float four subsidiaries, while DP World is eyeing a USD 1 bn expansion of its port operations in Peru.

On the global stage, FDI surged 11% to USD 1.4 tn in 2024, and the GCC IPO pipeline is shaping up for a strong 2025, led by the UAE and Saudi Arabia. Let’s dive in.

WEATHER- Expect partly cloudy and dusty conditions across the country, along with some humidity overnight and light to moderate winds through the weekend, according to the National Center of Meteorology (pdf). The mercury in Dubai will hit 26°C, with an overnight low of 16°C, while temperatures will hit 21°C in Abu Dhabi, with an overnight low of 17°C.

WATCH THIS SPACE-

DP World eyes USD 1 bn expansion in Peru: DP World is mulling an investment of more than USD 1 bn to expand port infrastructure in Peru, Reuters reports, citing the Peruvian government’s statement onX. The statement followed a meeting between Peruvian President Dina Boluarte and DP World CEO Sultan Ahmed bin Sulayem at the World Economic Forum in Davos.

The proposed expansion aims to boost agricultural exports and create jobs, supporting the South American nation’s economic potential. DP World currently operates the Callao port terminal, Peru’s largest port, and is evaluating further investment opportunities within its Peruvian operations, the company stated.

ICYMI- DP World has been ramping up its investments in Peru, completing a USD 400 mn expansion of the Bicentennial Pier at the Port of Callao in mid-2024, and USD 540 mn in investments across Ecuador and Peru.

#2- UAE eyes more trade agreements in 2025: The UAE expects a major boost in trade relations in 2025, with plans to finalize a landmark trade agreement with Nigeria, along with Azerbaijan, Mercosur nations, Thailand, and the Philippines in the coming months, Foreign Trade Minister Thani Al Zeyoudi told Bloomberg in an interview (watch, runtime: 2:54) on the sidelines of the World Economic Forum in Davos.

The country has already signed 24 economic partnership agreements, with discussions underway for potential agreements with the European Union and Mexico. The minister expects these agreements to contribute by 3.7-3.8% to the GDP by 2030.

The UAE’s non-oil foreign trade grew over 14% in 2024, surpassing AED 2.8 tn for the first time, outpacing global averages fourfold.

#3- Al Habtoor ties major Lebanon investment to government formation: Emirati businessman Khalaf Al Habtoor is planning a significant investment in Lebanon, pending the formation of a new “strong and independent” government, he said in a post on X. Al Habtoor said the project aims to support Lebanon’s economic revival and restore investor confidence in the country.

REMEMBER- Al Habtoor Group scrapped plans to launch a TV channel and a studio city in Beirut earlier last year after Al Habtoor and his staff received what they said were physical threats which present significant security challenges. The company filed both criminal and civil complaints in Lebanon and other locations at the time against individuals who had allegedly threatened the group and its staff.

PSAs-

#1- Your Abu Dhabi-Dubai commute is about to get a lot faster: A planned new high-speed train project connecting Abu Dhabi and Dubai will cut travel time between the two emirates to 30 minutes, with trains reaching speeds of up to 350 km per hour, Wam reports. Managed by Etihad Rail, the project is moving forward with tenders for project contracts issued and network designs approved. The Secretary-Generals of the Abu Dhabi Executive Council and the Dubai Executive Council also signed a cooperation charter to ramp up the project infrastructure.

ALSO- The UAE also announced the first four passenger rail stations, located in Abu Dhabi, Dubai, Sharjah, and Fujairah, and integrating with metro and bus lines for improved connectivity. A complementary passenger train fleet will connect urban and regional routes, operating at speeds up to 200 km per hour to further improve mobility across the UAE.

#2- Flydubai is set to resume flights between Dubai and Beirut starting 1 February, Al Bayan reports, citing a statement.

DATA POINT-

Sharjah real estate developer Alef Group recorded sales crossing AED 2.4 bn in 2024, up 30% y-o-y, Wam reports. The developer’s sales comprised 25% of the emirate’s total property market.

HAPPENING TODAY-

#1- World Economic Forum 2025 is on its last day in Davos, Switzerland, under the theme “Collaboration for the Intelligent Age.” The forum will gather 3k high-profile figures from over 130 countries, with 350 government leaders, including US President Donald Trump — joining via video — European Commission President Ursula von der Leyen, and Chinese Vice Premier Ding Xuexiang. The participants will discuss global challenges, including geopolitical shocks, economic growth, and advancing an inclusive energy transition.

#2- The Sharjah Real Estate Exhibition (Acres) is on its third day and runs through Saturday 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.

THE BIG STORY ABROAD-

Much like yesterday (and most of the past week), attention in the international business press is split between the growing wildfires in California and the latest from the White House.

The first of Trump’s executive orders to stumble: A federal judge imposed a temporary block on an executive order from US President Donald Trump that would, if implemented, put an end to birthright citizenship in the US. The judge deemed the order as “blatantly unconstitutional” as several states and activist groups filed lawsuits in a bid to halt the decision. The temporary block will be in place for two weeks before legal proceedings continue. (Reuters | New York Times | Wall Street Journal)

Trump is also making headlines for his plans to “demand” that the Federal Reserve cut interest rates “immediately.” Speaking in a video message to the World Economic Forum in Davos — and less than a week before the Federal Open Market Committee meeting next Wednesday — Trump insisted that the Fed should push ahead with rate cuts and that the rest of the world should follow suit with a monetary easing cycle. (CNBC | Financial Times)

WILDFIRE UPDATE- The Hughes fire north of Los Angeles continued to grow yesterday, leading tens of thousands of people to evacuate the area. Firefighters have contained around 14% of the fire’s perimeter, according to Reuters.

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CIRCLE YOUR CALENDAR-

Arab Health will take place between 27-30 January at the Dubai World Trade Center. The annual healthcare exhibit is gathering over 3.8k companies, with the goal of showcasing the latest tech solutions to challenges in the healthcare sector.

The Abu Dhabi Global Health Week will take place between 15-17 April at the Adnec Center in Abu Dhabi. The event will gather global and regional stakeholders to promote collaboration and investment in healthcare solutions. Key topics include health longevity, health system resilience, healthtech and AI, and life sciences.

Emirates Health Services (EHS) is set to present 19 innovative projects during the event, 13 of which are being revealed for the first time regionally and globally in collaboration with 23 strategic partners, Wam reports. The company will also sign 12 MoUs and cooperation agreements with key stakeholders, focusing on mental health innovation, digital infrastructure development, AI adoption, and promoting scientific research areas.

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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