Good morning, wonderful people, and happy hump day. We’re still drinking from a firehose of news here at EnterpriseAM UAE HQ, with the first whisperings of an IPO this year, fresh data on Abu Dhabi’s property sector in 2024, and more earnings.

WEATHER- Expect a mostly sunny day today and a humid night, the National Center ofMeteorology (pdf) says. The mercury in Dubai will hit 23°C, with an overnight low of 14°C, while temperatures will hit 22°C in Abu Dhabi, with an overnight low of 15°C.

WATCH THIS SPACE-

#1- Has Mubadala bought into American HR firm Deel? Fintech-turned-HR firm Deel sold USD 300 mn in secondary shares to General Catalyst and an unnamed sovereign wealth fund, which CNBC identified as Mubadala. The two entities joined as new investors and facilitated an exit for early investors, boosting the company’s valuation to USD 12.6 bn, the business outlet cited sources familiar with the matter as saying.

The company is now edging closer to a public listing, with a potential IPO as early as next year, Deel CEO Alex Bouaziz told CNBC. Deel is focused on enhancing its financial audits, compliance procedures, and infrastructure ahead of the listing, while also battling a lawsuit over alleged illicit transactions, which the company has dismissed as baseless and part of a coordinated attack by a backer of rival firm Rippling.

#2- The UAE’s Nuclear Regulation Federal Authority (FANR) plans to implement several projects and strengthen its regulatory framework to improve radiation safety, while expanding international cooperation by sharing the UAE’s nuclear expertise with emerging nuclear countries, FANR director-general Christer Viktorsson told a press briefing yesterday, state news agency Wam reports. The authority will also launch an artificial intelligence strategy in 2025, appointing a chief AI officer to facilitate partnerships in this area.

#3- The US could look to UAE for aluminium: US companies could look to the UAE and Bahrain for aluminium exports if Trump moves ahead with tariffs on Canada, Al Khaleej reports. Canada accounted for 56% of US aluminum imports in 2023, so shifting sourcing would mean higher costs due to logistics and exchange rates.

Big players like Alcoa and Rio Tinto are eyeing alternatives but are not rushing to make moves, with Alcoa’s President William Oplinger saying last month that the company could start importing more Middle Eastern metal. Trump postponed rolling out tariffs after striking last-minute agreements with Mexico and Canada on border issues—leaving companies hesitant to make any long-term shifts just yet, Reuters reports.

#4- Iraq’s Khor Mor gas field remains operational after drone strike: Operations at Dana Gas’ Khor Mor gas field in Iraq’s Kurdistan region continue as normal despite a drone strike that “targeted the vicinity” on Sunday, the company said in a statement (pdf). There were no injuries, and production facilities remained unaffected. Security measures have been implemented, and the company is coordinating with relevant authorities to monitor the situation.

#5- Arcapita receives ADGM license: Bahrain-based alternative asset management firm Arcapita Group Holdings received a license to operate and open an office in the ADGM, the company said in a statement. Stéphane Brown (LinkedIn), the firm’s group COO, has been appointed as the senior executive officer of the company’s new UAE-based unit, Arcapita Investment Management. The new office is set to bring Arcapita closer to its growing client base in the region, where the firm’s total transaction value reached USD 1.3 bn.

Arcapita has been investing big in the UAE, acquiring Neopay from Mashreq for USD 385 mn last month as part of a consortium with Turkish fintech Dgpays. It is also reportedly considering setting up a real estate investment trust for its regional assets.

PSA-

The Federal Tax Authority (FTA) is urging registrants to update their tax records within the designated grace period until the end of March to avoid administrative penalties, according to a press release.

HAPPENING TODAY-

#1- The Mubadala Abu Dhabi Open continues today with the round of 16 at Zayed Sports City, after several big games yesterday, including Ons Jabeur’s upset of Latvia’s Jelena Ostapenko and Russia’s Anastasia Pavlyuchenkova’s defeat of American Sofia Kenin. The big games to watch out for today:

  • Starting 11am: Belinda Bencic vs. Veronika Kudermetova; Yulia Putintseva vs. Markéta Vondroušová; and Elena Rybakina vs. Katie Volynets;
  • After 5pm: Sonobe Wakana vs. Ons Jabeur, and Linda Nosková vs. Paula Badosa

You can still buy tickets for the tournament, which ends on 8 February, here.

#2- Medlab Middle East is in full swing until 6 February at Dubai World Trade Center. The event is a platform for attendees to explore the latest innovations in medical lab technologies, diagnostics, and research. It features the participation of laboratory manufacturers, healthcare experts, procurement professionals, suppliers, and distributors from across the region.

#3- AI Everything Global continues today at the Dubai Exhibition Center and will wrap up tomorrow. The event brings together policymakers, industry leaders, and tech pioneers to explore AI’s transformative role across many industries.

#4- The International Dental Conference and Arab Dental Exhibition will run today and tomorrow at the Dubai World Trade Center. The event hosts visitors, brands, companies, speakers, lectures, seminars, scientific discussions, and country pavilions showcasing dental innovations.

THE BIG STORY ABROAD-

Trump’s latest plans are bringing our region back into the spotlight in the international press this morning, as the US president pushes once again for the “cleaning out” of Gaza, and ramps up the pressure on Iran.

Trump proposed yesterday in a press conference with Israel’s Prime Minister Benjamin Netanyahu that the US take over, develop and “own” the Gaza Strip to turn it into “the Riviera of the Middle East,” while calling for the forced displacement of “all” 2.2 mn Palestinians who call it home. “Countries of interest with human hearts” could fund permanent resettlement of Gazans in Egypt, Jordan and possibly other locations “where they can live a beautiful life,” Trump is quoted as saying. The 365 sq km enclave has seen its infrastructure nearly decimated since October 2023, due to continuous Israeli bombardment and demolitions.

Trump thinks he can persuade the region to take in the Gazans. “They say they’re not going to accept,” he said of Egypt, Jordan, and other Arab countries, standing next to Netanyahu. “I say they will.”

Hamas was quick to reject the proposals, saying that “our people in Gaza will not allow for these plans to come to pass.” Egypt and Jordan had already rejected Trump’s earlier pleas for them to take in refugees, with Jordan’s King Abdullah heading to Washington next week to meet with Trump. Saudi Arabia also reiterated its public stance linking normalization with Israel to the establishment of a Palestinian state, and rejecting settlement, annexation or displacement of Palestinians as “non-negotiable” with new or old US administrations. (Reuters | Bloomberg | CNN | FT | NY Times)

ALSO- Trump signed a presidential memorandum ahead of the conference reinstating a “maximum pressure” campaign on Iran to curb its nuclear ambitions. The memo also includes a campaign aimed at “driving Iran’s oil exports to zero,” threatening USD 53 bn of Iranian oil exports, per 2023 estimates. As usual, Trump signalled he was open to negotiating an agreement with Iran that saves everyone the trouble. (Reuters | NY Times | CNBC)

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CIRCLE YOUR CALENDAR-

The SWAAC ELSO Annual Conference 2025 will take place from 6-8 February at the Conrad Hotel Abu Dhabi, bringing over 1k global experts, doctors and lecturers in Extracorporeal Membrane Oxygenation (ECMO). The conference will feature discussions on ECMO research, clinical advancements, and future priorities in life-saving therapies.

The International Conference on Reprographic Rights Management will take place between 19-20 February in Sharjah. The event will feature panel discussions on creative rights and their collective management, as well as the impact of artificial intelligence and technology on creative works.

World of Coffee Dubai 2025 will take place from 10-12 February at Dubai World Trade Center. The global coffee trade event will bring together over 300 exhibitors, coffee professionals, producers, and enthusiasts.

Meetings Arabia & Luxury Travel (MALT) Congress 2025 is scheduled for 19-20 February at the Abu Dhabi Convention and Exhibition Bureau, connecting buyers and suppliers to discuss the future of incentive travel, corporate events, and high-end hospitality.

IDC Middle East CIO Summit 2025 will take place on 19-20 February at the Grand Hyatt, Dubai under the theme “architecting an AI-fueled business.” The event will bring together C-suite executives, industry leaders, and technology providers to explore AI’s impact on businesses. e& enterprise has been named the official host partner.

Dubai International Boat Show 2025 will run from 19-23 February at Dubai Harbour, featuring luxury yachts, superyachts, and marine innovations. It will bring together global industry leaders and water sports enthusiasts.

Affiliate World Dubai 2025 will take place on 26-27 February at Dubai World Trade Center. It will gather experts in affiliate marketing, e-commerce, and digital advertising for two days of networking.

The Global Justice, Love & Peace Summit will take place between 12-13 April at the Dubai Exhibition Center in Expo City. The event will bring together 2.8k peacekeepers, including 10 Nobel Laureates, heads of state, policymakers, and global influencers, to discuss justice, equality, and peace-building initiatives.

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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