Good morning, friends. Our issue today is somewhat of a mixed bag — and heavy on Abu Dhabi news. ADQ and Mubadala are returning to debt markets, ADX-listed Multiply is acquiring a stake in Italian luxury packager ISEM, and Adnoc-listed units are planning some AED 158 bn in dividends by 2030.

Meanwhile, in Dubai, freezone companies can now apply for permits to expand to the mainland — a move that is set to give a significant boost to cross-jurisdiction activity.

WEATHER- Temperatures in Dubai are set to peak at 37°C, before cooling to an overnight low of 28°C, while Abu Dhabi will see a high of 40°C, and a low of 26°C.

WATCH THIS SPACE-

#1- Next up in Dubai’s tokenization drive: Gold and diamonds. DubaiMulti Commodities Center (DMCC) and Dubai’s Virtual Assets Regulatory Authority (Vara) are developing infrastructure to tokenize physical commodities — like gold and diamonds — and integrate them into blockchain-powered financial systems, according to Dubai Media Office.

Riding the tokenization wave: More firms have been looking to tokenize real-world assets, with blockchain firm Mavryk and MultiBank recently securing USD 10 mn for their USD 3 bn real estate-focused initiative, Dubai Land Department launching its own real estate tokenization drive, and Dubai-based Fasset launching an app that uses tokenization to offer fractional ownership of gold.

#2- Dubai International Airport (DXB) is expected to hit its max capacity of 115 mn passengers by 2031, Dubai Airports CEO Paul Griffiths told Gulf News. The airport will then integrate into the Al Maktoum International Airport (DWC), which is currently undergoing expansion, by 2032, with an eye to handle an expected 124 mn passengers by that year’s end.

Squeezing capacity to the last bit: To achieve maximum capacity before transitioning into DWC, Dubai Airports will work on ramping up processing speed via new tech at DXB and install more midfield parking slots to “accommodate more aircraft and check-in facilities,” Griffiths said.

Flydubai will be one of the first airlines to relocate to DWC, using its existing terminal while construction continues, as DXB “runs out of slots,” Griffiths added.

#3- Arab-built satellite 813 ready for launch: The Arab Space Cooperation Group’s jointly developed satellite 813 has completed final lift-off preparations, with launch now expected later this year, The National reports. The 260-kg Earth observation satellite will orbit at 550-650 km altitude to gather data on agricultural conditions, natural resources, and environmental monitoring using a hyperspectral imaging system.

Satellite 813? First announced in 2019, the satellite was built by engineers from 12 Arab countries — including the UAE, Saudi Arabia, Egypt, Jordan, and Kuwait — at UAE University’s National Space Science and Technology Center in Al Ain. It was originally slated for launch aboard a Chinese rideshare rocket in June.

#4- CBUAE to offer AED 24.5 bn in next M-bills auction: The Central Bank of the UAE (CBUAE) will offer up to AED 24.5 bn in monetary bills at its upcoming auction next Monday, 13 October, according to a statement (pdf). The offering includes a 28-day tap issuance worth up to AED 3.5 bn, an 84-day new issuance of up to AED 3.5 bn, a 168-day new issuance of up to AED 4 bn, and a 336-day new issuance worth up to AED 13.5 bn. All bills will settle on 15 October.

Decoding central bank speak: M-bills are short-term, zero-coupon securities issued in AED with maturities ranging from one to 12 months. They are sold through competitive tenders to licensed dealers and are not publicly traded. A tap issuance allows the CBUAE to reopen an existing line to manage liquidity without launching a new series.

DATA POINT-

Gold reserves top AED 30 bn: The Central Bank of the UAE’s gold reserves surpassed AED 30 bn for the first time, reaching a record AED 30.3 bn at the end of August, state news agency Wam reports. The milestone reflects a 32% y-t-d increase from the AED 23.0 bn worth of reserves held at the end of 2024.

PSAs-

#1- University students get complimentary access to Google’s Gemini Pro for one year: University students aged 18 and above can now register for 12 months of complimentary access to Gemini 2.5 Pro under a partnership between Google and the UAE government, Wam reports. The offer includes advanced AI tools like Deep Research, NotebookLM, and Veo 3, along with 2 TB of cloud storage across Google products. Registration is open until 9 December 2025.

REMEMBER- AI is being woven into public services: OpenAI and G42 are integrating ChatGPT Plus into public services like education and healthcare as part of Stargate UAE, a USD 500 bn AI infrastructure initiative, though personal subscriptions to ChatGPT Plus remain at USD 20 per month.

#2- Air Arabia Abu Dhabi is launching a new route to Damascus, with three direct flights operating weekly between Abu Dhabi’s Zayed International Airport and Damascus International Airport, according to a press release. The first flight will take off on 28 October, with flights operating on Tuesdays, Thursdays, and Saturdays.

ICYMI- The airline resumed its Sharjah-Damascus route earlierthis summer. Other airlines are also restarting routes to Syria following the ousting of former president Bashar Al Assad earlier this year, with Etihad Airways set to begin flying to Damascus next year, and Emirates and flydubai already operating services to the capital.

#3- Riyadh Air to hit Dubai skies soon: Saudi’s highly-anticipated PIF-backed airline Riyadh Air is on track to launch its second route in Dubai next month, after launching with its first route ever to London on 26 October, CEO Tony Douglas told the Financial Times. The carrier will debut tickets to airline and PIF staff family members — relying on the airline’s technical spare jets as it awaits the delivery of its first fully commissioned Boeing aircraft.

HAPPENING TODAY-

#1- The International Conference on Climate Action and Sustainability is on today at the UAEU campus in Al Ain. The event, which started on Tuesday and will run until Friday, gathers over 200 international experts, policymakers, researchers, and students to collaborate on solutions addressing key issues like clean energy, green materials, AI for sustainability, and climate-resilient infrastructure.

#2- Quantum Maritime Conference wraps today in Mussafah, Abu Dhabi. The conference convenes maritime executives, policymakers, and technology specialists to examine digital transformation in shipping, port automation, and sustainable fleet management, with sessions dedicated to decarbonization, cybersecurity, and AI-led operational efficiency in maritime logistics.

#3- The Abu Dhabi Investment Forum takes place today on Thursday in London. The event follows the Abu Dhabi-London Business Connect event, which took place yesterday, followed by Commerce and Industry, ADGM, and Abu Dhabi Investment Office are holding twin investment forums, convening senior representatives from the government and the private sector to spotlight Abu Dhabi’s investment landscape, explore partnerships with UK counterparts, and support local businesses seeking to scale in new markets.

#4- The Family Office Summit will take place today at Park Hyatt in Dubai. The event brings together family office executives, private capital investors, and wealth management professionals for panels and roundtable discussions focusing on the upcoming USD 1 tn generational wealth transfer.

#5- The European Arab Medical Congress is also taking place today and running until Saturday at the Abu Dhabi Energy Center. The congress convenes clinicians, researchers, and policymakers from around the world to discuss neurohabilitation, mental health, and patient-centered care. The event aims to develop real world solutions and strategies to strengthen rehabilitation med. and patient-centered approaches.

#6- The IUCN World Conservation Congress will also kick off today and run until Wednesday, 15 October in Abu Dhabi. The congress gathers government officials, academics, and members of the civil society to discuss the challenges facing sustainability and nature conservation, as well as the policy decisions influencing the conservation agenda. The event will be divided into three components — a forum, exhibition, and a members’ assembly to address how businesses should integrate sustainability into their strategies.

THE BIG STORY ABROAD-

Israel and Hamas have reached an agreement on the first phase of US President Donald Trump’s peace plan, paving the way for a ceasefire and for hostages and prisoners to be exchanged within 72 hours. The breakthrough in talks — which took place over three days in Sharm El Sheikh in Egypt, and were brokered by the US and Qatar — should also see Israel withdraw its troops to an “agreed upon area,” and the resumption of humanitarian aid to Gaza.

Hamas confirmed the agreement had taken place, and thanked the brokers, including Trump, in a massive shift in tone, while Israel is set to convene its government today to ratify the agreement. Trump could also be coming to the region to celebrate the breakthrough, sources said.

The caveats are still there: Earlier ceasefires have broken down due to Israel’s ongoing attacks in Gaza, so Hamas will be looking for clearer timelines and assurances of Israel’s withdrawal. The question of Hamas’ disarmament — which was one key point in Trump’s plan — and the interim government of technocrats, chaired by Trump, are still contentious, and will need time to iron out.

The story is everywhere in the foreign press: Bloomberg | Financial Times | Reuters | Wall Street Journal | New York Times | AP

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OIL WATCH-

Adnoc raises November Murban crude price: Abu Dhabi National Oil Company (Adnoc) raised the November selling price of its flagship crude Murban to USD 70.22 / bbl, up from October’s price of USD 70.10 / bbl, Reuters reports. The company also disclosed the prices of its other crude grades per bbl, including Umm Lulu (USD 70.22), Das (USD 69.67), and Upper Zakum (USD 69.92), the outlet reported elsewhere.

CIRCLE YOUR CALENDAR-

Global Food Week will take place from Tuesday, 21 October to Thursday, 23 October at the Adnec Center in Abu Dhabi. Experts and industry leaders from the agriculture, food manufacturing, food security, and hospitality sectors will meet for discussions, exhibitions, and networking sessions focusing on showcasing solutions to improve global food security and sustainability. Last year’s event saw AED 6.2 bn worth of agreements signed.

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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