Good morning, lovely people, and happy FRIDAY. We wrap the week with yet another busy issue, led by a big headline — Abu Dhabi AI investor MGX is taking a stake in TikTok, as part of a transaction greenlit by the US to keep the social media app running in the country. Also, Abu Dhabi is returning to international debt markets for the first time in over a year.

And in other debt news, Binghatti raised its debut USD 500 mn green sukuk. Meanwhile, Adnoc’s XRG finalized the acquisition of a stake in a US project, and the ADGM amended its rulebook to require fund managers to file periodic returns.

WEATHER- Except peak highs of 37°C in Dubai, while Abu Dhabi will see a high of 38°C. Both emirates will be humid tonight at 30°C.

WATCH THIS SPACE-

#1- You might soon be paying less for your kids’ private school: Dubai's Knowledge and Human Development Authority (KHDA) is planning on assessing private school cost structures to see if measures are needed to lower tuition fees, The National reports, citing KHDA Director General Aisha Abdulla.

A possible plan includes subsidizing building and land rents in exchange for reasonable tuition fees. The authority is also looking to provide cheaper housing for teachers. The move follows recurring concerns from families over high tuition fees — after KHDA approved a 5.2% hike in 2024 for the current academic year.

Demand for private education is rising in Dubai, with private school enrolment up 6% in the 2024-25 academic year, following a 12% increase the previous year. Dubai plans to introduce 100 new private schools by 2033.

#2- ADX to stretch Tabadul network to nine markets by year-end: The Abu Dhabi Securities Exchange (ADX) is set to connect three new markets — with a fourth in the pipeline — to its Tabadul platform, bringing the network to nine by year-end, CEO Abdulla Alnuaimi told Asharq Business in an interview (watch: runtime: 2:23). ADX’s cross-border trading platform currently connects the exchanges of Bahrain, Muscat, Astana, Kazakhstan, Armenia, and Abu Dhabi through licensed brokers, streamlining settlement and custody across jurisdictions and paving the way for dual listings and deeper regional liquidity.

Background: Last week, the Abu Dhabi bourse as well as the Securities and Commodities Authority inked agreements for cooperation with Hong Kong regulators covering dual listing, ETFs, and mutual fund recognition. The agreement follows ADX’s addition last year to HKEX’s list of recognized stock exchanges.

Dual listings ahead: “We are working on a dual listing with a public joint stock company from a global exchange,” he said, noting the bourse is preparing to announce both a company and an ETF listing, without naming the players involved or giving a timeline.

The ADX saw strong demand from foreign investors in 9M: Net foreign investment on the ADX rose to AED 14 bn, up from AED 9 bn, during the first nine months of the year, with foreign investors accounting for an average of 40% of trading activity on a daily basis.

#3- Tadweer launches new waste collection arm: Abu Dhabi-based waste management firm Tadweer Group has set up Tadweer Collection, or Tajmee’e, to handle waste collection across the emirate, state news agency Wam reports. The unit will use AI-powered route optimization, real-time tracking, and predictive analytics to cut emissions, boost efficiency, and improve safety. Ashly Alex (LinkedIn), a 20-year sector veteran, has been appointed CEO.

REMEMBER- Tadweer is pushing to modernize Abu Dhabi’s waste sector and cut landfill use, with a target to reduce emissions 40% by 2035. It launched four subsidiaries — one of which was Tajmee’ — last year. It recently agreed to acquire Masdar’s stake in the Sharjah Waste-to-Energy plant — making it a JV partner with Bee’ah. Earlier this year it launched an AI-integrated waste management platform, began testing a pay-for-e-waste pilot, and partnered with China’s Sfeco Group on a potential facility to turn industrial waste into building materials.

#4- Presight-Shorooq fund to back 25-30 startups: The newly launched USD 100 mn Presight-Shorooq Fund I will invest in between 25 and 30 AI and deep tech startups, with about 40% of capital reserved for late-stage funding rounds to support scaling firms, Wam reports.

ICYMI- Launched earlier this week, the fund targets AI, machine learning, and data analytics ventures in sectors including smart cities, fintech, energy, gaming, augmented and virtual reality, and Industry 4.0. It also gives portfolio firms access to Presight’s cloud, GPU, and secure data infrastructure, along with G42’s global distribution channels.

PSAs-

#1- Uber is coming to Ajman: You may now order a taxi or limousine through Uber in Ajman, after Ajman’s Transport Authority inked an agreement with Uber to roll out its services in the emirate, according to a statement.

#2- The UAE Media Council banned the non-approved use of AI to depict national symbols or public figures, Khaleej Times reports. This is soon after a social media post of an AI-generated image of a user with the UAE’s founding father Sheikh Zayed Al Nahyan was published on social media.

ICYMI-The council is also working with Presight to develop an AI media content review platform that will analyze and validate media content — including books, films, and artworks — before publication to ensure compliance with UAE laws and standards.

HAPPENING TODAY-

#1- FM attends UN General Assembly in New York: Foreign Minister Abdullah bin Zayed Al Nahyan is in New York for the UN General Assembly, which will run until next Monday, 29 September, according to a Foreign Ministry statement. The summit has so far been dominated by discussions around the ongoing war in Gaza, with several countries — including the UK, France, and Canada — formally recognizing Palestine as a state, and Saudi Arabia and France set to co-chair meetings on the two-state solution.

#2- The Mohammed Bin Rashid Leaders Forum will wrap today in Dubai at the Mohammed Bin Rashid Center for Leadership Development. The forum brings together 1k government and private sector leaders for discussions, workshops, and lectures aimed at shaping future leadership models, proactive strategic thinking, and governance management.

THE BIG STORY ABROAD-

THE BIG STORY ABROAD AND AT HOME is the sale of a 45% stake in TikTok to Oracle, Silver Lake, and Abu Dhabi AI investor MGX, under a US President Donald Trump executive order, to allow the Chinese-owned social media app to continue to run in the US. We have all the details on the agreement in our news well, below.

ALSO- Trump said the US will impose a 100% tariff on branded and patented pharma products as of October, following through with earlier threats, though the expectation was that they would be phased in with a lower tariff this year and a higher one later. Pharma firms with US manufacturing plants are exempt from the tariffs.

He also plans to slap a 25% tariff on imported heavy trucks, a 50% tariff on kitchen cabinets and bathroom vanities, and a 30% tariff on upholstered furniture at the beginning of next month. This follows a probe by the government into trucks weighing more than 10k pounds as well as parts and derivatives. (Bloomberg | Financial Times | CNN | Reuters)

Across the Atlantic, former French President Nicolas Sarkozy was sentenced to five years in jail for attempts to raise campaign funding from Libya ahead of his presidency. (Reuters | Guardian | AP | New York Times)

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CIRCLE YOUR CALENDAR-

The Abu Dhabi Autonomous Summit will take place on Monday, 10 November, at the Vehicle Dynamic Area in Yas Marina Circuit, state news agency Wam reports. Organized by the Smart and Autonomous Systems Council (SASC) — as part of the inaugural Abu Dhabi Autonomous Week (ADAW) — the summit will convene global leaders to discuss the future of smart and autonomous mobility across the public transport sector.

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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