Good morning, friends, and happy FRIDAY. We have an investment-heavy issue for you this morning, led by news that the Abu Dhabi Investment Authority is backing Thoma Bravo’s USD 12.3 bn buyout of HR software firm Dayforce.

Plus: Indian venture debt firm Stride Ventures gives us the details on its USD 250 mn ADGM V Fund, and Sharjah’s CE Ventures is backing a US nuclear energy startup.

MORNING MUST-READ- In today’s My Morning Routine, we chat with Endava’s general manager for the UAE and KSA, David Boast, about everything from the importance of adopting AI with a well-thought-out strategy — and the dangers of AI for AI’s sake — to his love for coffee.

WEATHER- Expect one more cloudy, potentially rainy day before the weekend, with light winds possibly kicking up some blowing dust, according to the National Center of Meteorology (pdf). Conditions should ease heading into the weekend, with skies turning fair to partly cloudy.

Temperatures today will peak at 40°C in Dubai before dipping to 32°C overnight, while Abu Dhabi will see the mercury peak at 42°C with the same overnight low. Both cities will likely feel hotter, with humidity reaching 71% in Dubai and 78% in the capital.

WATCH THIS SPACE-

#1- Sewa earmarks AED 4 bn for water supply projects: The Sharjah Electricity, Water, and Gas Authority (Sewa) is pouring AED 4 bn into developing key water supply system projects in the emirate, state news agency Wam reports. The projects are slated for completion by 3Q 2027, with the treated water set to head to Sharjah and the central region.

The projects: Sewa’s plans include three pumping stations and nine water storage reservoirs with a combined capacity of 180 mn gallons of water. The authority has already tapped contractors for the projects, which will be located in Al Zubair, Al Badi, and Al Burair. The authority is also building a 245-km main water pipeline, with works already underway on a 77-km pipeline between the Al Hamriyah Independent Water Desalination Plant — which is set to produce up to 90 mn gallons of water daily —.and Al Falaj station.

#2- Binghatti Capital, the new USD 1 bn investment arm of Dubai developer Binghatti Group, is rolling out three funds that blend real estate and private credit, with an eye on supporting the subcontractors it has relied on for years, CEO Katralnada Binghatti told Zawya. The move comes as private credit gains ground across the region, with investors and family offices searching for alternatives to traditional financing. Binghatti claims to be the first regional developer to put this kind of platform together.

The lineup includes a single development fund tied to individual projects, a multi-development fund that pools several developments, and a private credit fund that sits at the center of the strategy. The private credit fund will provide working capital for Binghatti’s own projects and extend financing to subcontractors the company has worked with for more than 15 years, Katralnada said.

The move also comes as developers face increased competition in finding contractors for their projects, especially amid pressure to deliver on time. Some developers — including Emaar, Arada Developments, and Samana — have brought construction in-house to have more control over the construction process.

Background: Earlier this month, Binghatti also priced a USD 500 mn, five-year senior unsecured sukuk that was 5x oversubscribed. The developer also recently acquired land in Meydan for a planned AED 25 bn development, and pushed ahead with nearly 30 projects in 1H 2025.

#3- Electric vehicle (EV) owners are paying an average 9.5% less y-o-y on ins. renewal rates, coming in at approximately AED 5.2k, Gulf News reports, citing InsuranceMarket.ae data. The drop in EV ins. renewal costs comes amid a growing mix of EV brands in the market, with an influx of Chinese manufacturers increasing competition in the market and providing a better understanding of segment risks. Despite this, ins. for EVs is still higher than for traditional fuel cars, meaning regulators may step in to improve pricing across the EV market, eSanad’s Anas Mistareehi told the news outlet.

PSA-

#1- Boating licenses now available online for some tourists: The Dubai Maritime Authority (DMA) is rolling out a new visitor’s marine license in a bid to boost marine activity and attract international visitors to the emirate, according to Dubai Media Office.

How the system works: Visitors with an existing boating license issued by members of the International Maritime Organization — including the GCC, Europe, and the US — can submit a copy through a digital platform for online verification. The DMA also launched an updated manual on the conditions and requirements for securing a license — along with provisions about working on marine vessels including the qualifications, practical experience, and medical training of crew members.

#2- Emirati universities have a new training framework for graduates: The Higher Education and Scientific Research Ministry has set new rules for practical training in UAE universities to better align graduates’ skills with labor market needs, Wam reports. The framework requires institutions to sign formal agreements with training providers, prepare structured training plans, and track student progress through assessments and field visits. Universities and training providers must make sure the appointed supervisors are qualified and maintain detailed records and reports.

THE BIG STORY ABROAD-

It’s a mixed bag in the international business press this morning, with most leading with expectations out of the US Federal’s Reverse’s Jackson Hole meeting this weekend.

Fed Chair Jerome Powell is expected to hint at the resumption of its interest rate easing cycle in September, though sticky inflation as tariffs ramp up costs put him in a tricky position. The chair will also be releasing a new framework centering inflation — as opposed to the labor market — as a recalibration from pandemic-era rhetoric and priorities.

Expect some volatility in markets, analysts say, as already poor liquidity in August could give way to a bigger hit to stocks as investors look out for Powell’s speech tomorrow. (Reuters | Bloomberg | Wall Street Journal)

The meeting comes amid more drama surrounding the Fed, with the US government now targeting governor Lisa Cook, urging her removal due to allegations of mortgage fraud that have yet to be confirmed. (Guardian | Bloomberg | Financial Times)

IN AI NEWS- Meta and Google have struck a USD 10 bn cloud computing agreement that will see the Facebook owner use Google Cloud’s servers, storage, networking and other services as it looks to bring online more AI services. (Bloomberg | Reuters | CNBC | The Information)

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CIRCLE YOUR CALENDAR-

The Spring/Summer edition of Dubai Fashion Week will run from Monday, 1 September until Saturday, 6 September at Dubai Design District (d3), ahead of the New York, London, Milan, and Paris fashion weeks. The edition will showcase more than 30 brands from the UAE, Europe, India, and beyond, with runway shows, private events, and an expanded buyers’ program.

The International Government Communication Forumis happening on Wednesday, 10 and Thursday, 11 September at Expo Center Sharjah. Hosted by the Sharjah Government Media Bureau (SGMB), the two-day forum will include panel discussions, workshops, and keynote speeches focused on using strategic communication to develop five global priorities: food security, public health, education, environmental sustainability, and green economy.

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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