Foreign outflows in July were the lowest in the GCC

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Bybit sues North Korea for USD 1.5 bn hack + Moody’s places Binghatti on downgrade review

Good morning, everyone. The UAE is proving to be a relatively safe harbor for foreign investors compared to other GCC countries, even as its tourism sector takes a beating.

Foreign investors pulled funds out of every major Gulf equity market last month, but the UAE lost just USD 26 mn, far less than KSA, Kuwait, and Qatar, suggesting investors see it as relatively stable ground amid regional turmoil. Hint: Abu Dhabi is the shield.

It’s a different story for tourism. Hotel RevPar fell 31.8% YTD across the UAE in 1H as geopolitical tensions hit the summer slowdown. RAK and Dubai were the hardest hit, but Abu Dhabi’s decline was more muted.

Our earnings for you today come from Adnoc L&S, Dubai Investments, and Tabreed, whose 1H results varied greatly. Elsewhere, Moody’s has placed Binghatti’s rating on review for a downgrade after a sharp deterioration in its liquidity position, and Bybit has filed a lawsuit against North Korea over last year’s USD 1.5 bn hack.

Destination Sahel Issue III drops this week, and we’re diving into how the North Coast is adapting to a changing market.

Developers are recalibrating as buyer behavior shifts, luxury retail is carving out a bigger piece of Sahel’s economy, and the wellness and sports scene has become a summer destination on its own.

In this issue, we get into what’s actually changing on the ground, from how developers are adjusting their pitch to where to shop and how to stay active this season.

Tap or click here to subscribe to the Egypt edition, coming straight to your inbox today.

Bad news for Binghatti

Moody’s Ratings has placed Dubai-based developer Binghatti Holding’s Ba3 ratings on review for downgrade, reversing the stable outlook it affirmed in March, Zawya reports.

The issue? A sharp deterioration in Binghatti’s liquidity, driven by AED 1.5 bn in freecash outflows during 1H that slashed unrestricted corporate banknotes to AED 393 mn by June, down from AED 597 mn at the end of last year. Moody’s said the weaker liquidity profile leaves the developer more exposed to slower property sales, delivery delays, weaker customer collections, and reduced access to capital markets.

The risks are particularly relevant ahead of Binghatti’s early-2027 bond maturity, Moody’s said. In March, Fitch had placed Binghatti’s debt instruments on Rating Watch Negative, with the regional conflict adding uncertainty around sales and collections.

ICYMI- Binghatti was among other Dubai-based developers that were seeing parts of their credit stack tip into distressed territory earlier this year, as spreads blew past the 1k bps threshold, signaling investor concern about repayment risk after the war inflated risk premiums for the real estate sector.

Bybit sues North Korea over 2025 hack

UAE-based crypto exchange Bybit has filed a civil lawsuit against North Korea, its intelligence agency, the Reconnaissance General Bureau (RGB), and North Korea-based state-linked hacking group Lazarus Group over the February 2025 cyberattack, it said in a statement. The lawsuit was filed in the US District Court for the District of Columbia.

REMEMBER- The attack last February saw the theft of USD 1.5 bn in tokens, in what Bybit CEO Ben Zhou had called “the worst hack in financial history.” It became a major test of the crypto industry's ability to trace and recover assets following state-linked cyberattacks, particularly when stolen funds are moved across multiple wallets and jurisdictions, which analysts previously told us can happen within seconds.

What now? Bybit has secured a preliminary injunction freezing identified stolen digital assets held or moved by unidentified individuals and entities while litigation continues. The assets identified as connected to the case won’t be able to be moved while investigations are underway. Separately, US law enforcement is also conducting its own investigation.

The state of play so far: Around USD 30.5 mn worth of assets have been frozen so far, while another USD 48.4 mn of the stolen total has since been recovered. At the time of the attack, Bybit said it had “more than enough assets” to cover losses, with clients’ funds fully backed 1:1.

PSAs

Playing music in cafes, malls, hotels, and restaurants will come at a cost: The Tourism Ministry has introduced a new music licensing fee that governs the commercial use of music in restaurants, cafes, hotels, shopping malls, fitness centers, airlines, radio stations, television channels, concerts, and similar outlets, in a move to safeguard copyright protections.

The details: Two ministerial arms, the Emirates Music Rights Association and the UAE’s premier collective management organization, Music Nation, will collect the fees, with license costs depending on the nature of the music. These licenses are valid for one year and are renewable.

Who’s exempt? Educational and academic entities, along with governmental institutions, national initiatives, and any sort of personal, non-commercial use is exempt from the fees, with more exemptions to be announced later by the ministry.

Where will the money go? 10% of the collected fees will be used to support a new fund for musicians, the “Cultural Support Fund in the Field of Music,” which will be run by the authorities and aims to support new rising talent and promote cultural initiatives.

Changing your Emirates flight date to Dubai comes at no charge now: Emirates Airlines has announced unlimited no-charge date changes for customers flying to Dubai across all fares immediately. The airline has also lowered refund fees on Dubai flights to USD 50 on saver fares and special fares and USD 25 on flex fares for both the economy and business classes.

Beyond Dubai, changing flight dates to other destinations in the Emirates will also include one gratis ticket change for tickets booked from 2 April 2026, and customers can hold tickets for up to 24 hr without charge until they make up their plans.

Why this matters: The move is another bid to lure back travelers at a time when regional flight disruptions are intensifying amid continued hostilities, as airlines extend cancellations. The UAE also recently scrapped visa entry fees for Indian travelers coming to Abu Dhabi for at least three nights.

Jaywan is going global

The CBUAE domestic card scheme Jaywan is expanding globally after an MoU signed by the CBUAE’s digital payments arm Al Etihad Payments (AEP) and China’s UnionPay International, state news agency Wam reports. The agreement allows UAE Jaywan mono-badged cardholders to make payments and ATM withdrawals across more than 100 mn points of sale in 183 countries, with non-domestic transactions routed back through AEP’s national switch.

REMEMBER- The move builds on the existing Jaywan-UnionPay co-badged card framework launched last year by local financial institutions. It came after the CBUAE had executed its first cross-border transaction using the digital AED with China after linking their financial infrastructures.

IN CONTEXT- The central bank previously said that every licensed bank and financial institution in the country will start using Jaywan, with some financial players already integrating it into their banking infrastructure.

Dubai confirms public holiday

Dubai’s government confirmed that Friday, 28 August, will be a public holiday to mark the Prophet Muhammad’s birthday, state news agency Wam reports. However, government employees working in public service facilities or shift-based roles will still be on the job. The holiday means a long three-day weekend, with employees returning to work the following Monday. The UAE already announced the holiday for public and private sector workers several days ago.

WEATHER- The mercury hits 42°C in Dubai today, and 43°C in Abu Dhabi, with a low of 34°C in the former and 32°C in the capital.

The big story abroad

As the principal players in the regional war harden their stances, Pakistan’s Defense Minister Khawaja Asif has said that the US and Iran are nearing an agreement over the Strait of Hormuz. “Things are shaping up in favor of peace,” Asif said, without elaborating. Meanwhile, US forces fired on a Panama-flagged vessel transiting the Gulf of Oman, which US Central Command said was violating the blockade on Iran.

All the worse for Panama: The turmoil in Hormuz has resulted in a 16-fold price jump for transiting the Panama Canal this month, with daily auctions averaging about USD 1 mn. A warming of surface temperatures in the Pacific Ocean — known as the El Niño-Southern Oscillation — has also contributed to steeper transit costs, as the phenomenon coincides with lower water levels.

And in the AI world: US-based VC firm Accel has raised USD 3.5 bn to back emerging AI startups across the world, which will be deployed via four dedicated funds. A USD 1.35 bn global fund will target large early-stage rounds, with the remaining capital split by region — USD 800 mn for Silicon Valley, USD 800 mn for Europe and Israel, and USD 550 mn for India.

Paramount mulls Hollywood exit as Warner Bros. merger stalls: Paramount CEO David Ellison reportedly threatened to move the company out of California to pressure the state’s attorney general, who is suing to block the Warner Bros. merger. California Attorney General Rob Bonta called the bid an attempt to blackmail regulators into not resisting the transaction, a USD 110 bn buyout backed by Gulf sovereign wealth funds.

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UAE sees the smallest foreign outflow of any Gulf equity market in July

Foreign investors pulled money out of every major Gulf equity market in July — but the UAE lost the least by far. As renewed US-Iran escalation triggered USD 415 mn in net foreign outflows from GCC equity markets — reversing June’s net inflows of USD 144 mn — the UAE lost just USD 26 mn, according to investor relations consultancy Iridium. Every other major Gulf market bled more: Saudi Arabia saw USD 129 mn in outflows, breaking a run of inflows in 11 of the previous 12 months; Kuwait led the region with USD 153 mn out the door; and Qatar shed USD 72 mn.

What the numbers tell us: “The UAE’s foreign flow position in July is a strong signal that international investors are treating it as a relatively steady market during periods of regional stress,” Century Financial Chief Investment Officer Vijay Valecha says.

But the UAE’s small headline number hides a split. Abu Dhabi pulled in USD 148 mn of foreign money — the only Gulf bourse to draw a net inflow in July — while Dubai saw USD 174 mn head out.

BACKGROUND- That flips the pattern seen in 2Q, when Saudi Arabia was the only GCC market to draw net foreign inflows — totaling USD 1.6 bn — while both UAE exchanges bled money, with Dubai losing USD 641.5 mn and Abu Dhabi shedding USD 187.3 mn, per Kamco Invest’s 2Q GCC trading report. Four months on, Saudi is the market breaking a run of inflows, and Abu Dhabi is the one foreign investors are choosing.

Three things explain the divergence

#1- The economy held up better than expected: The S&P Global UAE PMI never dipped below the 50 growth mark throughout the escalation, falling to a low of 52.1 in April before rebounding to 52.7 in July. Energy exports proved equally resilient: crude output hit a multi-year high of more than 3.8 mn bbl / d in June, with roughly 3.7 mn bbl / d moving through the Strait of Hormuz despite shipping disruptions. “Business conditions on the ground did not deteriorate in the way the headlines might have suggested,” Valecha says.

#2- In Abu Dhabi, market access kept widening: Foreign investors accounted for 77% of new registrations on the Abu Dhabi Securities Exchange in 1H 2026 and 48% of trading value — a sign, Valecha argues, that global capital is building long-term positions rather than trading in and out.

#3- Sector mix is doing the rest of the work: Abu Dhabi’s index gives foreign investors exposure to energy, utilities, large-cap financials, and government-linked infrastructure, while Dubai’s is tied to property, tourism, consumer activity, and banking. “After the recent geopolitical conflict, the sectors expected to attract foreign inflows are concentrated within Abu Dhabi,” Valecha says — and July’s split backs him up, with Abu Dhabi pulling in USD 148 mn of inflows against Dubai’s USD 174 mn of outflows.

The outlook

If tensions stay where they are, Valecha’s base case holds — flows stay positive but modest, propped up by the same fundamentals that got the UAE through July. “The outlook for foreign flows into the UAE remains positive over the next three to six months,” Valecha says.

“As long as the domestic economy remains in expansion and market access continues to widen, the UAE could be a leading Gulf market for flows to recover as tensions ease,” he says.

If the conflict escalates further — more attacks on Gulf neighbors or continued disruption around the Strait of Hormuz — Valecha expects a broader Gulf risk discount rather than a UAE-specific selloff. That would mean higher required returns on UAE assets, pressure on Dubai and Abu Dhabi’s logistics and financial hubs, and a broader emerging market pullback that catches the UAE regardless of its own numbers. Even then, he doesn’t see it tipping into capital flight: “relative underperformance and higher volatility,” in his words, not a reversal of the July pattern.

If tensions ease, Valecha points to one specific trigger for a fast turnaround: a reopened Strait of Hormuz alongside a lasting US-Iran ceasefire. That would cut both oil-price volatility and the risk premium priced into the region — and “a rapid reversal of the market correction can occur,” he says, pointing to Dubai in particular as the more tactically de-risked of the two exchanges and therefore the one with more room to snap back.

Gloomy 1H for hospitality sector as summer slowdown meets regional turmoil

The hospitality sector’s woes continued in 1H as a regional conflict-induced dip in tourism inflows collided with the usual summer slowdown, leading hotel revenue per room (RevPar) to dip 31.8% YTD across the UAE in 1H, according to JLL’s UAE hospitality market dynamics 2Q report. Occupancy levels came in at 57.9% emirate-wide, down 22.2% YTD.

ICYMI- The GCC could lose as much as USD 32 bn in tourism revenues due to the war, Secretary General Jasem Albudaiwi previously said. Analysts had also not predicted a full recovery in tourism flows until 2029, and inbound arrivals could be down as much as 27% y-o-y for 2026.

Ras Al Khaimah (RAK) took a harder hit than others, with RevPar plummeting 49.9% m-o-m in June. The downturn is sobering for an emirate harboring ambitions of real estate and tourism driving growth, with the pre-war forecast bolstered by megaprojects like the USD 5.8 bn Wynn Resorts. Still, the average daily rate was up YTD in RAK at 5.2%, making it the only emirate to record growth and signaling robust fundamentals for its tourism sector.

Dubai also saw a significant dip, with RevPar down 38.7% m-o-m and 35.2% YTD, while state-linked demand and steadier domestic inflows helped Abu Dhabi record a more muted 20.3% YTD decline.

Authority intervention offered some relief, with support packages from Dubai and Ajman, as well as wider fee deferrals, helping to ease liquidity pressures. Hospitality players were also doing their best to keep luring in customers during the period through reductions on room rates and package offers. Firms also turned to restoration and upgrades, as we previously reported, to take advantage of the lull and tax rebates to do so.

Projects initially slated for rollout by year-end are likely to be delayed until 2027 on the back of a more cautious development approach due to current conditions. 2Q saw no new hotel deliveries in Dubai or Abu Dhabi, as developer timelines were stretched. That’s something we’ve already seen with the Wynn Al Marjan Island resort, the opening date for which was pushed back from early 2027 to September 2027.

The outlook: Hospitality players are looking more toward domestic demand to offset the downturn in international inflows. Stock remained steady, with Dubai set to add 4.9k keys by the end of the year and Abu Dhabi expected to add 120. However, stretched timelines are more a question of execution feasibility right now than of weakening confidence in the sector.

Adnoc L&S’s earnings surge, Dubai Investments’ jump, Tabreed’s stall

Dubai Investments’ 2Q holds up on property sales

Strong real estate sales and rentals buoyed Dubai Investments’ 2Q performance, as net income attributable to shareholders jumped 42.2% y-o-y to AED 471.1 mn, bringing 1H net income up 27.9% to AED 642.4 mn, according to the company’s financials (pdf) and earnings release (pdf). The group’s total income climbed 19.4% y-o-y to AED 1.3 bn during the quarter and rose 7.9% to AED 2 bn in 1H.

The segment breakdown: The group’s property division remained the central earnings engine, accounting for AED 1.2 bn of 1H total income — up 5.1% y-o-y — supported by robust property sales and recurring income from rental holdings, which rose 5.9%. The manufacturing, contracting, and services arm followed, delivering AED 775.6 mn in total income, up 9% y-o-y, while income from the investments division was up 34.5% to AED 113.1 mn.

Dividends: Shareholders approved an FY 2025 dividend of 25%, or AED 0.25 per share, totaling AED 1.06 bn, which was fully paid out in May 2026.

Tabreed’s 2Q earnings dip as financing costs weigh on net income

District cooling giant Tabreed’s 2Q net income took a 29% hit from higher financing costs — even as the underlying business held steady. Net income attributable to shareholders fell to AED 113.7 mn in the quarter, while revenue stayed virtually flat at AED 642 mn, according to the company’s financial statements (pdf) and earnings release (pdf).

The 1H picture looks similar: Net income attributable to shareholders was down 30.4% y-o-y to AED 191.8 mn, even as revenue rose 1.8% to AED 1.1 bn and connected capacity grew 15% to 1.6 mn RT.

Behind the numbers: Finance costs jumped 33.5% y-o-y in 1H to AED 152 mn following the company’s 2025 debt refinancing at prevailing market rates, alongside debt taken on to fund its co-acquistion of PAL Cooling with CVC DIF.

Dividends: Tabreed’s board of directors approved an interim dividend payout of 5 fils per share for 1H, representing a 74% payout ratio of the period’s net income.

Adnoc L&S hits record 2Q earnings

A surge in tanker earnings turned Adnoc L&S’s 2Q into a blowout quarter. The maritime logistics firm’s net income jumped 303% y-o-y to USD 951 mn, a result the company credits to its support of Adnoc’s energy exports, according to its financial presentation (pdf). Revenues rose 98% y-o-y to USD 2.6 bn.

REMEMBER- The UAE was able to move more oil to global buyers than any other Gulf producer since the start of June, with Adnoc selling more than 130 mn barrels of crude across seven tenders. Adnoc charters tankers at elevated rates to shuttle crude through Hormuz with their transponders switched off, then transfers the cargo to another vessel in the Gulf of Oman for the longer haul to buyers. It did so despite the risk of transiting through the strait, with at least two of its vessels coming under attack last month, resulting in one fatality and several injuries.

The six-month read tells the same story. Adnoc L&S’ net income rose 179% y-o-y to USD 1.2 bn in 1H, while revenue climbed 46% to USD 3.7 bn. The gains came once again from supporting UAE energy exports, higher charter rates and chartering activity, and contributions from four newly delivered LNGCs, two VLECs, and one Ultramax vessel, according to its earnings release (pdf).

Inside the architecture of a borderless bank

A borderless bank starts with an operating system that can travel. As Mashreq scales across the UAE, Egypt, the India corridor, and other global locations, the challenge is to move faster across markets while keeping regulation, governance, and client oversight intact.

That takes more than digital channels. It takes a stack where infrastructure, intelligence, platforms, integration, and advisory work as one model — turning multi-market banking from a footprint into a functioning system.

For clients, the value is simple: faster onboarding, smoother service, sharper decision-making, and a bank built to scale without losing control.

Cobi raises USD 1 mn, ARP Digital secures broker-dealer license from Vara, Coinbase gets ADGM greenlight for tokenization hub

Cobi raises USD 1 mn to turn customer data into real-time decisions

UAE-based AI startup Cobi has raised a USD 1 mn pre-seed round led by Lunara Partners, with Plug and Play, Annex Investments, and Spring also participating, according to a press release (pdf). The funding will help Cobi expand enterprise deployments across the Middle East and internationally, while strengthening its AI-powered recommendations and decision-making capabilities.

What it does: Cobi is building an intelligence layer that connects fragmented customer, transaction, and product data together to automate businesses’ workflows, with Mastercard, Emirates Flight Catering, Presight AI, and Lari Exchange among its clients.

ARP Digital secures Vara broker-dealer license

ARP Digital has picked up a broker-dealer license from Dubai's Vara — a regulated route for corporates and qualified investors to convert crypto and stablecoins into AED, according to a company statement (pdf). The license lets ARP formally bridge crypto holdings and fiat for institutional clients — a gap that's mattered more as digital-asset volumes into the UAE have scaled. ARP runs a USD 3.5 bn trading desk.

Coinbase gets ADGM approval to build tokenization hub

ADGM’s Financial Services Regulatory Authority just handed crypto exchange Coinbase a Financial Services Permission, allowing it to arrange investment agreements and provide custody for tokenized securities, according to a statement.

REMEMBER- Coinbase is already involved in a tokenized private market fund launched by Mubadala and blockchain infrastructure provider Kaio last month.

Nvidia targets USD 500 bn in third-party financing to fuel AI data center boom

Nvidia wants to graduate from supplying the AI boom to full-on financing it. The AI chipmaker inked MoUs with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR to build standalone financing platforms designed to pull in more than USD 500 bn of third-party capital for AI data center buildout, it said in a press release. The move will see each of the six firms independently underwrite the compute instead of Nvidia putting up all the money directly.

What we know: None of the six agreements is final yet. Nvidia didn’t disclose how much each firm could commit, how much the credit would cost, or when any of it could start flowing. All it said was that the platforms would create “dedicated pools of capital at significant scale at attractive rates” for its customers.

Nvidia itself could have plenty of skin in the game. CEO Jensen Huang said the company could backstop as much as USD 125 bn of the financing, equivalent to a quarter of the USD 500 bn target. That means Nvidia could underwrite part of the financing being used to fund purchases of its own hardware.

The wager is that Nvidia’s chips can pay for themselves. Huang argues that its compute should be treated more like an income-generating asset than a piece of hardware that simply depreciates, because it can move across models, workloads, customers, and operators and stay current through Nvidia’s CUDA software.

If this works, Nvidia could be laying the groundwork for an entirely new corner of the credit market. Goldman’s David Solomon is already talking about creating a market for credit backed by Nvidia compute, potentially giving asset managers something new to lend against and trade. And where Nvidia goes, other chipmakers and hyperscalers could follow.

The flip side is concentration risk: A lot of credit could ultimately come to depend on the value of the same hardware, from the same supplier, and on AI demand continuing to hold up.

The scale of the bet lines up with what’s already happening upstream. Big Tech’s own AI spending is set to top USD 730 bn this year, Reuters reports. This is the backdrop making off-balance-sheet financing like this attractive to hyperscalers who’d rather not carry all that infrastructure spend directly.

(** Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

MARKETS THIS MORNING-

Asian stock markets delivered mixed performance in early trading, highlighted by a nearly 2% surge in South Korea's Kospi, while Japan's Nikkei held steady. Meanwhile, US futures were up, reflecting investor anticipation ahead of today’s key inflation report.

ADX	10,008	-0.8% (YTD: +0.2%)
DFM	5,880	-0.4% (YTD: -2.8%)
Nasdaq Dubai UAE20	4,812	-1.4% (YTD: -1.6%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	3.6% o/n	4.3% 1 yr
TASI	10,833	-0.1% (YTD: +3.3%)
EGX30	54,829	-0.1% (YTD: +31.1%)
S&P 500	7,728	-0.3% (YTD: +12.9%)
FTSE 100	10,844	-0.2% (YTD: +9.2%)
Euro Stoxx 50	6,227	-0.6% (YTD: +13.0%)
Brent crude	USD 88.91	+1.4%
Natural gas (Nymex)	USD 2.75	-0.5%
Gold	USD 4,434	-0.2%
BTC	USD 63,651	-0.5% (YTD: -27.4%)
Chimera JP Morgan UAE Bond UCITS ETF	AED 3.62	+0.0% (YTD: -0.6%)
S&P MENA Bond & Sukuk	150.87	-0.1% (YTD: -0.7%)
VIX (Volatility Index)	15.28	-1.2% (YTD: +2.2%)

THE CLOSING BELL-

The ADX fell 0.8% yesterday on turnover of AED 1.4 bn. The index is up 0.2% YTD.

In the green: Gulf Cement Co. (+4.3%), Adnoc Logistics & Services (+3.6%), and Sharjah Cement and Industrial Development Co. (+1.7%).

In the red: Emirates Ins. (-4.9%), National Bank of Umm Al Qaiwain (-4.1%), and Phoenix (-3.8%).

Over on the DFM, the index fell 0.4% on turnover of AED 457.5 mn. Meanwhile, Nasdaq Dubai fell 1.4%.

CALENDAR

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.

17-19 September (Thursday-Saturday): International Real Estate & Investment Show (IREIS), Adnec, Abu Dhabi.

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.

14-15 October (Wednesday-Thursday): Sharjah Investment Forum, Jawaher Reception and Convention Center, Sharjah.

13-15 October (Tuesday-Thursday): Annual Meeting of Global Future Leaders, 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.

18-19 November (Wednesday-Thursday): Touchdown Middle East 2026, Conrad Abu Dhabi Etihad Towers, Abu Dhabi.

25-26 November (Saturday-Sunday): Doers Summit, Dubai Silicon Oasis, 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.

7-10 December (Monday-Thursday): Abu Dhabi Finance Week, Al Maryah Island, Abu Dhabi.

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.

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