UAE’s debt rush gathers pace

1

WHAT WE’RE TRACKING TODAY

THIS MORNING: UAE eyes acquiring India defense systems + Mubadala weighs up investment in South Korean defense player

Good morning, friends. There’s a theme running through today’s issue that we’d be remiss not to flag — the UAE is on a shopping spree. Defense systems, defense firms, European holiday resorts, and fresh debt, while the window is open, are all on the grocery list.

The borrowers are back. FAB is marketing Tier 2 securities days after a heavily subscribed green-bond sale, and Burjeel is reviving a sukuk it shelved when the war rattled markets. That the queue is forming again tells you something about where spreads are and what treasurers are thinking. We have the full read on what’s moving and why in today’s Big Story.

On the defense front, Abu Dhabi is in early-stage talks to buy India’s BrahMos missile and Akashteer air-defense system — and separately, Mubadala is eyeing a stake in a South Korean hydraulic-components maker that supplies the defense industry. Two stories, one signal — the UAE is accelerating a quiet but deliberate effort to diversify its defense supply chain and get closer to the manufacturers, not just the products.

Rounding things out: Mubadala Capital is writing a ~EUR 1 bn check for French tourism group Pierre & Vacances-Center Parcs and a Dubai-based credit fund is launching what it says is the first institutional open-ended asset-backed vehicle in the Gulf.

On deck: We'll be tracking the BrahMos talks closely — any sale needs Russian sign-off, and India has a long history of defense export talks that go nowhere.

Missile shopping in India

India could be next on the UAE’s defense shopping list: The UAE is in early-stage talks to buy India’s BrahMos supersonic cruise missile and Akashteer automated air-defense system as Abu Dhabi accelerates arms procurement and diversifies beyond its traditional Western suppliers after the war, Reuters reports, citing sources it says are familiar with the discussions. The talks are “progressing fast,” one Indian source said.

What’s on the table: BrahMos is a 290-km-range missile that can be launched from land, sea, or air, while Akashteer connects data from multiple systems to respond to aerial threats. Akashteer could complement the UAE’s US-made THAAD and Patriot defenses, while BrahMos would add another strike option alongside its ATACMS missiles.

Why it matters: A broader supplier base would give the UAE “more strategic autonomy” without antagonizing Washington, ACLED analyst Pearl Pandya said. The talks fit Abu Dhabi’s wider push to bring more defense manufacturing in-house through foreign partnerships beyond the US, including a UAE-India framework agreed in May to deepen industrial collaboration and technology sharing.

Watch this space: Any BrahMos missile sale would require Russian approval as a joint developer of the weapon, although one source said Moscow’s ties with Abu Dhabi make that unlikely to be a hurdle. India also has a history of reported export talks that do not result in agreements, so this one is far from done.

K-defense, next aisle

And the UAE may be looking beyond buying weapons to investing in the companies that make them. Mubadala is considering a commitment to a Korea Investment & Securities private-equity fund seeking a 73.78% controlling stake in South Korean defense supplier MNC Solution, Korean finance and business news outlet ChosunBiz reports. The hydraulic-components maker is expected to be valued at around KRW 1 tn (c. USD 650 mn).

What’s next: Mubadala is one of several overseas investors reviewing commitments to the fund, with a share-purchase agreement expected later this month.

ICYMI- Earlier this year, the UAE and South Korea inked a USD 35 bn defense pact, which included a USD 65 bn pipeline of joint projects.

More relief for Sharjah businesses

We now know the details of the economic support package Sharjah revealed lastweek. Sharjah is introducing a fresh set of fee cuts, exemptions, and payment relief measures aimed at helping businesses weather the economic fallout from the regional conflict and maintain operations, The National reports. The three-month package, which came into effect on 16 June, offers targeted support to sectors including education, food manufacturing, and pharma while also extending relief to micro and home-based businesses.

The measures include a 50% reduction on industrial licence fees for food and pharma companies, as well as on issuance and renewal fees for micro-licences for e-commerce and home businesses. They also include exemptions from late-payment penalties for micro-licenses. Nursery operators will also receive a 25% reduction on issuance and renewal fees, while promotional campaign permits will also get a similar reduction.

Tokenized deposits for select few

HSBC has started allowing digital AED tokens to be held on its network, according to a press release (pdf). The bank’s eligible corporate and institutional clients will be able to transfer funds, both domestically and internationally, using blockchain-based infrastructure while remaining within the traditional banking system.

A closer look: Through the platform, companies will be able to move liquidity instantly between treasury centers and subsidiaries. The lender said the service allows clients to settle transactions on-chain while maintaining compatibility with existing treasury and banking systems.

The UAE’s tokenization trend has been gaining ground recently in sectors like real estate, gold, other commodities, and possibly even ships. However, the IMF has also warned that tokenization gets rid of the temporal buffer that prevents hiccups while introducing new systemic headaches.

Data point

21% — that’s the y-o-y uptick in new business licenses issued in Abu Dhabi in 1Q, as businesses kept flocking to the emirate despite the regional uncertainty, Abu Dhabi Media Office said, citing data from the Abu Dhabi Registration and Licensing Authority. The number of active licenses was up 12% y-o-y.

The expansion was broad-based: New commercial licenses rose 20%, while professional licenses jumped 193%. Licenses related to agriculture, fisheries, and livestock increased 5%. Activity among entrepreneurs and small businesses also remained strong, with Abu Dhabi trading licenses rising 17% and freelance licenses jumping 261%.

ICYMI- Abu Dhabi’s financial freezone also kept attracting players in 1Q, with 961 firms securing active ADGM licenses in 1Q to bring the total number of active licenses in the hub to 13.4k.

Happening today

US Secretary of State Marco Rubio is kicking off his GCC tour today — he will visit the UAE, Bahrain, and Kuwait between today and Thursday, according to a statement from State Department spokesperson Tommy Pigott.

On the agenda? Allaying fears related to the recent US-Iran MoU and convincing regional allies that the clause of USD 300 bn for reconstruction in Iran won’t be used to rebuild its military capabilities or fund regional proxies, Reuters reports.

PSA

WEATHER- Expect a high of 43°C in Dubai and Abu Dhabi today, along with a low of 30°C in the capital and 34°C in Dubai, according to our favorite weather app.

The big story abroad

There appears to be some headway on the US-Iran front, as Washington temporarily authorizes Tehran to sell oil in USD for two months — a move US Vice President JD Vance noted coincides with Iran's agreement to grant inspectors access to its nuclear sites. The Iranian Foreign Ministry denied the claim.

Meanwhile, UK Prime Minister Keir Starmer announced he is stepping down, potentially setting the stage for Labor Party frontrunner Andy Burnham, who was sworn in as an MP last week. A timetable outlined by Starmer could see Burnham take office by 17 July, becoming the country’s seventh leader in ten years.

SpaceX has good news… Rocketmaker and AI player SpaceX locked in a computing power agreement worth up to USD 6.3 bn with open-source AI startup Reflection, which will pay Elon Musk’s company USD 150 mn per month to access its Colossus 2 data center. This follows similar computing power-related plays with giants of the US AI scene, namely Anthropic, Google, and Cursor.

…and bad news: SpaceX lost USD 400 bn in market value, a twist of fate after its landmark debut on Wall Street. The dip was part of a wider tech selloff triggered by expectations that the Federal Reserve will hike rates as soon as September — US government bond yields climbed sharply.

***

You’re reading EnterpriseAM UAE, your essential daily roundup of business, economics, and must-read news about the UAE, delivered straight to your inbox. We’re out Monday through Friday by 7am UAE time.

EnterpriseAM UAE is available without charge thanks to the generous support of our friends at Mashreq and Hassan Allam Properties.

Were you forwarded this email? Tap or click here to get your own copy of EnterpriseAM UAE.

Want to send us a story idea, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on [email protected] .

DID YOU KNOW that we also cover Egypt, Saudi Arabia, and the MENA logistics industry?

***

Circle your calendar

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

Borrow while you can

The UAE’s debt rush is gathering pace as borrowers lock in funding while spreads recover from their war-era widening. First Abu Dhabi Bank (FAB) is marketing fresh Tier 2 securities days after a heavily subscribed green-bond sale, while Burjeel Holdings is reviving its debut sukuk after shelving the transaction when the war hit markets.

Up first: FAB is marketing a benchmark-sized USD Reg S Tier 2 issuance at around 170 bps over US Treasuries, Zawya reports. The 10.5-year notes are non-callable for 5.5 years, mature in December 2036, and are due to settle on 30 June.

Under the hood: The coupon will remain fixed until December 2031, then reset to the five-year US Treasury rate plus a margin. The notes are expected to be rated A by Fitch and will be listed in London.

The UAE’s largest lender by assets is coming back quickly: Last week, more than EUR 1.1 bn of orders helped FAB price a EUR 750 mn green bond at 74 bps over mid-swaps, tightening from an initial guidance of 100-105 bps. The bank also raised USD 700 mn through a five-year sukuk in May.

#2- ADX-listed healthcare provider Burjeel is finally moving ahead with its debut sukuk, marketing a benchmark-sized five-year Reg S senior unsecured issuance under a USD 1.5 bn trust-certificate program after investor calls began yesterday, the company said in a press release (pdf).

Proceeds will go toward refinancing and general corporate purposes, with the structure split between 55% ijara and 45% murabaha, Zawya reports. The sukuk will be listed on the London Stock Exchange’s International Securities Market.

Rated by S&P, Moody’s: Burjeel earned a BB+ issuer credit rating from S&P with a stable outlook, while Moody’s assigned the firm a Ba2 corporate family rating with a stable outlook.

The comeback matters: Burjeel paused the transaction in April after the war pushed spreads wider, having begun meeting investors in February. Its return now offers another sign that issuers see the funding window reopening.

ADVISORS- ADCB, Citi, Emirates NBD Capital, FAB, JPMorgan, and Standard Chartered are lead managers and bookrunners for FAB’s issuance. Citi, Emirates NBD Capital, and FAB are global coordinators for Burjeel, joined by our friends at Mashreq, along with ADCB, ADIB, Ajman Bank, DIB, KFH Capital, Rakbank, and Sharjah Islamic Bank as bookrunners. Emirates NBD Capital and FAB are also structuring banks.

Zoom out

Gulf borrowers are seizing on a calmer window: Dubai Islamic Bank has also tapped markets twice this month, including through a USD 1 bn AT1 sukuk, as issuers fund opportunistically rather than wait for regional uncertainty to clear.

Spreads have tightened significantly back to pre-war levels for investment-grade names, experts told us previously. However, banking and real estate firms’ spreads are still currently wider than pre-war levels. Strong demand for new transactions is also pointing to investor receptiveness to the issuances, they told us.

Checking in

Mubadala Capital is checking into European leisure. The Abu Dhabi investor has made a fully financed binding allcash offer for all outstanding securities of French tourism group Pierre & Vacances-Center Parcs, valuing the company at around EUR 1 bn, local newswire Belga News Agency reports.

What Mubadala is buying: The transaction would give Mubadala control of a portfolio spanning 330 European sites and more than 45k apartments, houses, and villas, according to a separate press release. Pierre & Vacances operates the Center Parcs, Pierre & Vacances, Maeva, and Adagio brands. It generated EUR 1.95 bn in revenue in its latest financial year.

The terms: Mubadala is offering EUR 1.90 per share, including an extraordinary EUR 0.11 distribution, with another EUR 0.10 available if it can squeeze out remaining investors and delist the company. The base offer represents a 35% premium to the unaffected share price before the group launched its strategic review last year, but only 7% over its latest closing price.

It’s not yet a given: While the board unanimously welcomed the offer after a year-long review and the company’s three largest shareholders — which collectively own 58.6% — have expressed support, Mubadala must still secure tender commitments covering at least 80% of the share capital by 17 July.

What’s next: A formal offer is expected in 1Q 2027, subject to regulatory approvals and the board’s final opinion following an independent fairness review. Mubadala plans to retain the existing management team.

Why it matters: The transaction would extend Mubadala Capital’s run of large overseas take-privates as Abu Dhabi’s sovereign funds keep deploying despite the regional backdrop. Earlier this week, Mubadala committed GBP 500 mn alongside the Abu Dhabi Investment Authority (Adia) to back EQT’s GBP 9.3 bn acquisition of Intertek, taking an 8% stake in the UK testing group.

ICYMI- Other Emirati sovereign players have also been looking to Europe’s resort scene, with Adia acquiring a significant minority stake in European Camping Group last year, building on its existing portfolio, which included a 17-hotel takeover for EUR 600 mn in Spain. Dubai-based developer Select Group also acquired three golf and country club resorts in the UK earlier this year.

Magellan Capital launches Gulf’s first open-ended institutional vehicle for asset-backed lending

Dubai-based Magellan Capital launched a new open-ended credit fund targeting SME and individual borrower financing across the GCC and Europe, with USD 50 mn in seed capital and an AUM target north of USD 250 mn, according to a press release (pdf). The Magellan Asset Backed Opportunities Fund is incorporated in the DIFC and is the first institutional open-ended vehicle of its kind in the Gulf, according to the firm.

The structure offers investors something conventional closed-ended private credit funds don't: a preferred redemption schedule with a liquidity pathway. It can also invest in shariah-compliant facilities, opening it up to the full GCC investor base, while targeting double-digit returns.

Why it matters: Asset-backed lending has been a pillar of credit markets in Europe and North America for decades, but the Gulf has never had a local institutional equivalent, leaving SMEs largely underserved, the firm says.

The proof of concept started with Beehive, one of the GCC’s leading SME lending platforms, which Magellan used as an initial investment to validate the model before building a fund around it. Magellan Capital, as part of a consortium with Goldman Sachs, participated in a mezzanine AED 500 mn facility for Beehive last year.

BACKGROUND- This is the second significant product launch from Magellan this year. In February, the firm scaled up its multi-strategy hedge fund to USD 975 mn — up from a USD 700 mn soft launch in August 2024 — marking the first time the firm brought in third-party capital alongside the El Ali family fortune that seeded it. That fund taps emerging market credit, long-short investing, and long-only equities.

What’s next: Magellan says it’s in advanced discussions with counterparts across multiple segments and geographies, and we’ll be keeping an eye out for fundraising milestones as the fund works toward its USD 250 mn AUM target.

Phoenix taps exec to execute its new data center ambitions

Phoenix taps new head of data centers: Abu Dhabi-based BTC miner and data center infrastructure developer Phoenix Group appointed Phillip Ross (LinkedIn) as director of data center, design, and development, according to a statement. Ross brings nearly two decades of experience in critical infrastructure, including senior roles at UK data center operator AtlasEdge and IT services firm NTT Data.

REMEMBER- As we reported last month, Phoenix is in the middle of a full strategic pivot away from BTC mining and toward AI infrastructure — a shift CEO Munaf Ali described as a natural evolution given that mining and data centers run on the same core competencies: power procurement, large-scale compute, and cooling.

The company is sitting on a 1 GW target across Europe and the GCC, with an 18 MW facility in Lyon already under construction and due online in 4Q 2027 or 1Q 2028. Ross’s job is to execute that timeline and the broader shift in priorities for Phoenix from BTC mining to data center infrastructure, which, as Ali put it, “takes people who have done it before.”

Rentify raises more funds, Robo.ai makes an AI acquisition, Enata expands marine manufacturing capacity

Rentify wants AI to run the rent roll

Dubai-based proptech Rentify raised USD 2 mn in seed funding to launch Earn AI, an Arabic-native platform that automates rent collection, lease renewals, tenant engagement, and pricing for GCC landlords and property managers, according to a press release. The round takes Rentify’s total funding to USD 2.5 mn after a USD 500k raise last year and marks its expansion from payments infrastructure into a broader rental-management operating system. The new platform is already live with five enterprise customers managing thousands of UAE units, according to a statement on LinkedIn.

Robo.ai is looking to broaden its reach beyond robotics

Robo.ai acquires QC Capital: Dubai-based and Nasdaq-listed AI and robotics firm Robo.ai is acquiring AI technology holding platform Quantum Core (QC) Capital in a USD 60 mn share-based transaction, according to a press release. The acquisition will give the firm full ownership of QC Capital, and the price tag is payable via new Class B shares in Robo.ai.

QC Capital? The firm focuses on AI, robotics, digital infrastructure, and industrial technologies, using AI-driven tools to support investment decisions, due diligence, portfolio management, and post-investment operations.

Enata to set up USD 20 mn manufacturing facility

Sharjah-based manufacturing company Enata Group is expanding its boatbuilding operations in Abu Dhabi with a new manufacturing facility backed by USD 20 mn in initial investment, according to a statement on LinkedIn. The facility will be built on a 100k sqm area and is scheduled for completion next year, with Enata planning to break ground this summer. This expansion follows a partnership with investment group Ayjal Holding.

The details: The waterfront site will include a dry dock, a refit facility that will serve yachts up to 60 metres, an academy and entrepreneurial incubator, and a dedicated 20k sqm R&D space.

Target sectors: The facility will focus on aerospace, automotive manufacturing, composites, and marine production as Enata continues to expand its manufacturing capabilities in the UAE and as the Emirates looks to localize more production and manufacturing lines.

A key Gulf export could be in trouble

The Gulf's USD 124 bn remittance machine is wobbling. The Iran conflict is stress-testing one of the world’s most consequential capital flows — the money sent home by roughly 30 mn foreign nationals working across the six GCC states. Bloomberg reports that GCC migrant workers sent an estimated USD 124 bn home in 2024 — and the early data from this year suggests the flow is under real strain for the first time since the pandemic.

We could be looking at a serious collapse in remittance volume if foreign workers’ savings are depleted, potentially by 3Q 2026, due to a prolonged war, Daré Okoudjou, CEO of cross-border payments platform Onafriq, estimates. Around 40% of senders are already drawing from emergency reserves for the first time since the 2020 pandemic, Okoudjou adds.

The war’s opening weeks triggered a panic-send: Western Union reported an acceleration in outbound remittances from the Middle East during the early phase of the conflict, and the Central Bank of Kenya logged a surge as some 500k Gulf-based workers rushed money home at the onset. In India — where the UAE alone accounts for about one-fifth of all inward remittances — money sent home by overseas workers rose more than 28% in the three months through March. Bangladesh and Sri Lanka also reported increases.

Then came the hangover: Kenyan transfers from the Gulf states fell 18% in April. Philippine remittances grew at their slowest pace in almost four years — a warning sign for a country where inflows amount to about 10% of GDP and around 2.4 mn citizens work in the Middle East.

The savings buffer is the number to watch. Okoudjou says transaction volumes have risen, but the average transfer values have dropped about 12%, with wage delays — and in some cases cuts — pushing workers to draw from reserves.

It’s not just Okoudjou with the bearish outlook — Western Union CEO Devin McGranahan flagged the same bleak outlook on an earnings call in late April, explaining that prolonged conflict historically means less migration into the region, fewer economic prospects, and a gradual shrinkage of overall outbound volumes.

What to watch: How the US-Iran peace talks go over the next 60 days will play a huge role in remittance recovery, as the restoration of a sense of security and stability in the region will help its tourism, hospitality, and other industries begin a long road to recovery.

MARKETS THIS MORNING-

Asia-Pacific markets are down in early trading this morning, echoing a selloff seen on Wall Street on the back of expectations that the Fed may press ahead with aggressive monetary tightening later this year. South Korea’s Kospi is down 4.2%, while Japan’s Nikkei is down a more moderate 1.1%.

ADX	10,036	+0.2% (YTD: +0.4%)
DFM	6,183	+0.3% (YTD: +2.3%)
Nasdaq Dubai UAE20	4,915	+0.4% (YTD: +0.1%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	3.5% o/n	4.3% 1 yr
TASI	11,072	0.0% (YTD: +5.6%)
EGX30	52,586	-0.2% (YTD: +25.7%)
S&P 500	7,473	-0.4% (YTD: +9.2%)
FTSE 100	10,438	+0.7% (YTD: +5.1%)
Euro Stoxx 50	6,311	+0.3% (YTD: +8.9%)
Brent crude	USD 78.11	+0.3%
Natural gas (Nymex)	USD 3.23	-0.6%
Gold	USD 4,182	-0.3%
BTC	USD 64,340	+0.9% (YTD: +26.6%)
Chimera JP Morgan UAE Bond UCITS ETF	AED 3.69	-0.8% (YTD: -1.6%)
S&P MENA Bond & Sukuk	152.21	-0.2% (YTD: +0.2%)
VIX (Volatility Index)	17.28	+3.0% (YTD: +15.6%)

THE CLOSING BELL-

The ADX rose 0.2% yesterday on turnover of AED 1.0 bn. The index is up 0.4% YTD.

In the green: Al Khaleej Investment (+5.3%), Sharjah Cement and Industrial Development Co. (+5.1%), and Eshraq Investments (+3.8%).

In the red: Ins. House (-3.4%), Invest Bank (-3.2%), and Apex Investments (-3.0%).

Over on the DFM, the index rose 0.3% on turnover of AED 714.2 mn. Meanwhile, Nasdaq Dubai was up 0.4%.

CALENDAR

JUNE

22-24 June (Monday-Wednesday): The International Glass Manufacturing Show, Dubai.

23-24 June (Tuesday-Wednesday): Global Markets Middle East, Madinat Jumeirah, Dubai.

23-24 June (Tuesday-Wednesday): Forbes Middle East Building The Future Summit, Berklee Abu Dhabi, Abu Dhabi.

JULY

28-29 July (Tuesday-Wednesday): Federal Open Market Committee (FOMC) meeting.

SEPTEMBER

1-3 September (Tuesday-Thursday: Middle East Energy, Dubai World Trade Center, Dubai.

7-9 September (Monday-Wednesday): AIM Congress, Dubai World Trade Center.

7-9 September (Monday-Wednesday): International Property Show, Dubai World Trade Center, Dubai.

12-13 September (Saturday-Sunday): Emirates International Congress on AI & Visionary Leadership in Transforming Healthcare, Adnec Center Abu Dhabi.

14-17 September (Monday-Thursday): Arabian Travel Market, Dubai World Trade Center, Dubai.

15-16 September (Tuesday-Wednesday): Federal Open Market Committee (FOMC) meeting.

29-30 September (Tuesday-Wednesday): AFCM Annual Conference, Abu Dhabi.

OCTOBER

4-10 October (Sunday-Saturday): World Space Week, Abu Dhabi.

5-7 October (Monday-Wednesday): AI Everything Global, Adnec Center, Abu Dhabi.

12-14 October (Monday-Wednesday: Airport Show, Dubai World Trade Center, Dubai.

20-22 October (Tuesday-Thursday): Future Health Summit, Adnec Center Abu Dhabi.

27-28 October (Tuesday-Wednesday): Arab Competition Forum, Dubai.

27-28 October (Tuesday-Wednesday): Federal Open Market Committee (FOMC) meeting.

30 October (Friday): Large businesses achieving annual revenues equal to or above AED 50 mn must appoint an accredited service provider for e-invoicing implementation.

Signposted to happen sometime in October 2026:

Abu Dhabi Space Week, Abu Dhabi.

NOVEMBER

2-6 November (Monday-Friday): Dubai Future Finance Week, Dubai.

4 November (Wednesday): Digital Transformation Summit, Sofitel, Abu Dhabi.

9-10 November (Monday-Tuesday): Annual government meetings, Abu Dhabi.

9-12 November (Monday-Thursday): EMEA Council on Hotel, Restaurant and Institutional Education Conference, Dubai College of Tourism, Dubai.

10-12 November (Tuesday-Thursday): Dubai International Electric Vehicle Exhibition & Conference, Dubai World Trade Center.

16-18 November (Monday-Wednesday): World Police Summit, Dubai World Trade Center, Dubai.

DECEMBER

2-4 December (Wednesday-Friday): UN Water Conference, UAE.

4-6 December (Friday-Sunday): Formula 1 Abu Dhabi Grand Prix, Abu Dhabi.

8-9 December (Tuesday-Wednesday): Capital Market Summit, Madinat Jumeirah, Dubai.

8-9 December (Tuesday-Wednesday): Federal Open Market Committee (FOMC) meeting.

8-10 December (Tuesday-Thursday): Abu Dhabi Water & Power Week, Adnec Center, Abu Dhabi.

Signposted to happen sometime in 2027:

1 January: Deadline for large businesses to implement e-invoicing;
1Q 2027: Completion of the first phase of Hassyan seawater desalination project;
1-3 February (Monday-Wednesday): World Governments Summit;
31 March: Small businesses with annual revenues of less than AED 50 mn are obliged to contract with an accredited service provider for e-invoicing implementation;
31 March: Government entities are required to appoint an accredited service provider for e-invoicing implementation;
21-22 April (Wednesday-Thursday): Token2049, Dubai;
1 July: Deadline for small businesses to implement e-invoicing;
1 October: Deadline for governments to implement e-invoicing;
Abu Dhabi’s solar and battery energy facility, combining 5.2 GW of solar capacity and 19 GWh of battery storage, is set for commissioning.

Signposted to happen sometime in 2028:

Artificial Intelligence Summit.

Signposted to happen sometime in 2029:

Sibos 2029 organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), Dubai;
Annual Meetings of the World Bank Group and the International Monetary Fund, Abu Dhabi;
The commissioning of the seventh phase of Mohammed bin Rashid Al Maktoum Solar Park.

Sections

About

Privacy & Support

UAE’s debt rush gathers pace

An independent publication supported by

Today at a glance

THIS MORNING: UAE eyes acquiring India defense systems + Mubadala weighs up investment in South Korean defense player