Taqa acquires Spanish water treatment company GS Inima. PLUS: Emirates NBD returns to the Dim Sum market

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Santos extends exclusivity period and due diligence for XRG-led consortium + UAE President in Angola on a working visit

Good morning, friends, and welcome to the start of the final workweek in August. Brace yourselves for a lot more traffic as of today, as schools are back in session and others return from their vacations in cooler places to settle back into their normal routine.

We have a couple of big stories at home today, including Taqa’s latest USD 1.2 bn acquisition of a Madrid-based water treatment company, and Emirates NBD’s issuance of a Dim Sum bond. Plus: Spinneys is expanding into its fourth GCC market, Kuwait, through a JV with Alshaya Group, and Emirates Global Aluminum is officially done with Guinea.

WEATHER- Dubai will see daytime highs of 42°C and overnight lows of 32°C, while Abu Dhabi is set to reach 41°C, dipping to 32°C after dark.

HAPPENING TODAY-

UAE president in Angola: President Mohamed bin Zayed began a state visit to Angola yesterday, during which he will meet President João Lourenço to discuss strengthening economic and development ties, Wam reports.

WATCH THIS SPACE-

#1- XRG-led consortium’s Santos bid gets a boost with exclusivity period extension: Australian oil and gas producer confirmed it has extended the due diligence and exclusivity period for the USD 18.7 bn bid from the consortium led by Adnoc’s international investment arm XRG to Friday, 19 September, according to a statement. The consortium — which also includes Abu Dhabi sovereign wealth fund ADQ and private equity firm Carlye — again confirmed it has not found anything in its due diligence that would prompt it to withdraw its bid.

The exclusivity period extension means that Santos cannot enter takeover talks with anyone whose bid matches or is lower than the consortium’s, though it can still do so for bids that are higher.

REMEMBER- The consortium said earlier this month that it would need at least another four weeks to secure regulatory approvals for the potential takeover. The acquisition requires approvals from several Australian regulators, including the Foreign Investment Review Board, which analysts have said could be critical of the acquisition given it involves critical energy infrastructure. It will also require approvals from the US and Papa New Guinea, because the firm holds assets in both of the countries.

#2- Lombard Odier to shut down Abu Dhabi operations: Swiss private bank Lombard Odier plans to shutter its offices in Abu Dhabi, a rare move as more financial firms pour into the capital, Bloomberg reports, citing a spokesperson from the firm. The independent banking group will reportedly continue to operate and serve its clients in Abu Dhabi from its neighboring base in Dubai, with Abu Dhabi staff set to relocate either to Dubai or Singapore. The firm had established its Abu Dhabi office in 2019.

No reason was cited for the exit, but it comes amid a surge of interest from hedge funds and global asset managers looking to expand their footprint in Abu Dhabi’s financial hub, ADGM. European banking giant UBS Group was recently reported to be planning an office in Abu Dhabi. Wealth management firm Azura Partners is also planning to relocate its headquarters from Monaco to Abu Dhabi, following its acquisition by Abu Dhabi-based alternative asset manager Lunate.

#3- Space42 eyes funding, local partnerships for Map Africa initiative: ADX-listed space tech firm Space42 is in early talks with potential backers — including the African Union Development Agency and financial firms — to raise funds for its Map Africa project, Bloomberg quotes CEO of Smart Solutions, a subsidiary of the firm, Hasan Al Hosani as saying. “There’s a lot of work that needs to happen locally within each country … to identify entities and partners, whether it’s on the private sector or the government sector,” he said.

Background: Launched with Microsoft and mapping software firm Esri last month, the initiative aims to chart all 54 African countries with detailed maps to support logistics, disaster response, and urban planning. It competes with Elon Musk’s Starlink, which already covers 18 African countries with a fleet of about 8k satellites.

How it’s going: Space42 currently operates eight satellites with plans to launch three more this year. The company already started building a presence in markets such as South Africa and Zimbabwe, where it connected schools and clinics, Al Hosani said.

DATA POINT-

The UAE is becoming an influencer hub: Creators HQ, the UAE’s new hub for digital content creators, has drawn over 2.4k active members from 147 countries since its launch at the 1 Bn Followers Summit in January, state news agency Wam reports. It has also brought in 78 global content companies from 24 countries to relocate to the UAE, led by companies from the UK, Pakistan, the US, India, France, and Germany. Collectively, members linked to the HQ command a following of more than 2.4 bn people across platforms.

Creators HQ? Launched under the Content Creators Fund, the hub aims to empower creators by hosting more than 300 events and workshops annually and offering services such as Golden Visa facilitation and company setup support. It is targeting 10k creators in its next phase.

PSA-

All property adverts within ADGM’s jurisdiction will require a license from the financial center, after it introduced a new real estate advertising permit, according to a press release. The service — launched in collaboration with the Registration Authority, the Department of Municipalities and Transport, and the Abu Dhabi Real Estate Center (Adrec) — aims to curb fake listings. The permit service is accessible through ADGM’s online platform, AccessRP.

Abu Dhabi has also been cracking down on fake property listings: The emirate also recently launched Madhmoun — the region’s first multiple listing service platform — to validate and regulate property listings.

THE BIG STORY ABROAD-

No one story is dominating the front pages this morning, as hotter, longer summers (yes, the summer is getting longer, the Washington Post says) are bringing business activity to a near halt.

HSBC’s Swiss private bank is reportedly offloading over 1k wealthy clients in the Middle East, spanning Saudi Arabia, Lebanon, Qatar and Egypt, unnamed sources told the Financial Times and Bloomberg. The move — expected to be completed within six months — comes amid scrutiny from Swiss watchdog Finma to ensure compliance with anti-money laundering regulations. HSBC is “evolving the strategic focus of our Swiss Private Bank” as part of its wider plans to “reshape the Group,” the bank said in an emailed statement to Bloomberg. This plan entails “increasing leadership and market share in the areas where we have a clear competitive advantage.”

ALSO- A mighty fall: China’s Evergrande — once the biggest real estate firm in the country — saw its shares delisted from the Hong Kong stock exchange early this morning. The giant developer, which was valued at USD 51 bn at its peak in 2018, was crushed under a pile of USD 300 bn in liabilities amid a wider property crisis that started in 2021 and saw homebuyers and investors incur hefty losses.

ALSO WORTH NOTING-

US drinks giant Keurig Dr Pepper is close to sealing a USD 18 bn acquisition of European coffee maker JDE Peet.
US National Guard troops deployed by President Trump in Washington DC will reportedly begin carrying weapons in the capital today.

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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.

Taqa acquires 100% of Spanish water treatment company GS Inima

Taqa takes over Spain’s GS Inima: Abu Dhabi National Energy Company (Taqa) agreed to fully acquire Spain-based water treatment and desalination company GS Inima from South Korean contractor GS Engineering and Construction for USD 1.2 bn, it said in a press release (pdf). The transaction is expected to close in 2026, pending regulatory sign-offs and customary closing conditions.

What Taqa stands to gain: GS Inima operates about 50 projects, including 30 long-term PPPs, across 10 countries in Europe, Latin America, and Asia. The transaction adds 171 mn imperial gallons per day (mig/d) of desalination capacity to Taqa’s 1.25k mig/d portfolio. It will also contribute an additional 1.2 mn cubic meters per day of drinking water capacity and 2.6 mn cubic meters per day of wastewater and industrial water treatment capacity to Taqa’s global water platform and water management business.

A glimpse at GS Inima’s latest financials: GS Inima booked EUR 389 mn in revenue and EUR 106 mn in EBITDA last year. Most of its portfolio is covered by inflation-linked concession agreements, providing predictable cash-flows.

BACKGROUND- The move comes less than a year after Taqa wrapped up its AED 1.7 bn acquisition of Sustainable Water Solutions Holding, Abu Dhabi’s sole wastewater collection and treatment company. Taqa is also pressing ahead with international expansion, with projects including an AED 52 bn integrated power and water infrastructure program in Morocco, its takeover of the Talimarjan power complex in Uzbekistan, and the acquisition of UK-based Transmission Investment.

ALSO- Last week, Taqa lined up an AED 8.5 bn corporate term loan, giving it more firepower to fund growth and keep its balance sheet liquid.

Emirates NBD returns to the Dim Sum market with a CNY 1 bn issuance

ENBD prints first Dim Sum in over a decade: Emirates NBD returned to the offshore Chinese bond market with a CNY 1 bn (USD 139.2 mn) three-year Dim Sum issuance, marking its first CNY debt sale since 2012, IFR quotes sources as saying. The issuance was rated A1 by Moody’s and A+ by Fitch in line with the bank’s ratings.

SOUND SMART- Dim Sum bonds are CNY-denominated debt issued offshore, typically in Hong Kong, giving foreign issuers access to Chinese investors without having to enter the mainland market. Panda bonds, by contrast, are CNY-denominated bonds sold onshore in China by non-Chinese issuers. They are subject to domestic regulatory approvals and offer direct access to mainland liquidity.

The details: The senior Reg S-compliant notes, which were tightened to a yield of 2.4% versus initial guidance of 2.8%, were more than 3x oversubscribed, drawing CNY 3.1 bn in orders — largely from Asian investors. While the pricing arbitrage was slim at around 5-7 bps, bankers said the main objective was to diversify ENBD’s investor base and grow its liquidity pool.

The issuance is a good indicator for future potential Dim Sum issuances from issuers in the region in the coming months, the sources said, with one source close to the transaction saying it was mostly “symbolic” to get attention from the market. This comes as more issuers from the Middle East are looking eastward amid increased appetite in Asia, and amid a wider trend towards Dim Sum issuances this year.

The market is on track for a record year as low interest rates in China and a shift away from USD assets triggers the rebound, the Financial Times reports.

ADVISORS- Bank of China, Emirates NBD Capital, ICBC, and Standard Chartered quarterbacked the transaction as joint lead managers and bookrunners.

Background: Emirates NBD has been actively tapping global debt markets this year. In January, the lender sold USD 700 mn in five-year senior Formosa unsecured notes listed on the Taipei Exchange, while in June it tested appetite for a 10-year AUD kangaroo bond under its AUD 4 bn program.

Spinneys to enter Kuwait through Alshaya JV, marking its fourth GCC market

Spinneys to enter Kuwait: Premium grocer Spinneys will expand into its fourth GCC market through a joint venture with Kuwait’s Alshaya Group, where Spinneys will hold a 51% stake and oversee operations, according to a company disclosure (pdf). The JV plans to roll out 10 outlets, with the first set to open in 2026.

Alshaya? Founded in Kuwait in 1890, Alshaya is one of the region’s largest franchise operators, with over 4k stores and more than 125 digital businesses across MENA, Turkey, and Europe. The group employs more than 50k people and represents 70+ international brands including Starbucks, H&M, Bath and Body Works, Shake Shack, Chipotle, Victoria’s Secret, and Charlotte Tilbury.

Kuwait’s draw: The country — the GCC’s fourth-largest economy — is a “high potential market” with plenty of options for growth, Spinneys CEO Sunil Kumar said, pointing to its affluent customer base with some of the region’s highest disposable income levels.

The move is the latest in a wider regional expansion drive, which has seen Spinneys open 12 stores in the UAE and two in Saudi Arabia since April 2024 — when the company first announced plans for its KSA expansion — shortly before raising AED 1.38 bn on the DFM in May. It plans to open at least four new stores in the Kingdom every year for the next five to 10 years. Spinneys today operates 86 outlets across the UAE, Oman, and Saudi Arabia, including those under the Waitrose banner.

That’s a wrap on EGA’s operations in Guinea

EGA halts Guinea operations, citing gov’t seizure of bauxite mine: Emirates Global Aluminium (EGA) has shut down its operating subsidiary in Guinea just a few weeks after the Guinea government seized its mine, according to a statement. The firm terminated its presence and control over its sites in the country as of last Friday.

What happened? Guinea had earlier this month transferred ownership of GAC’s bauxite mining lease from the Dubai-based firm to a newly established state-owned company, after earlier suspending the company’s shipments in October. The government had claimed that EGA failed to fulfill its commitment to build an alumina refinery, and the move is part of a wider push to gain more control over the country’s natural and mineral resources.

No update on its legal action against Guinea: EGA had also reportedly been seeking redress for the Guinea government’s actions, which it said was a “flagrant violation” of its rights.

REMEMBER- The firm is pivoting quickly — to Ghana: EGA is in the running to potentially develop Ghana's Nyinahin Hills bauxite deposit following the government's termination of a USD 1.2 bn lease with local firm Rocksure International. The aluminum producer had signed an MoU with Ghana's state-owned Ghana Integrated Aluminum Development Corporation in June to explore mining projects in the West African nation.

It also has bigger plans in the US (and at home): The firm will develop a USD 4 bn primary aluminum production plant in Oklahoma — the first such US facility since 1980 — with production set to begin in 2030. It’s also reportedly revisiting plans to IPO, though it’s still unclear which out of the Dubai and Abu Dhabi bourse it will go for, and what the potential timeline for the listing is.

Adnoc Gas, Presight, and several others join FTSE indices, and Burjeel’s out

A whole host of UAE firms have been added to FTSE indices, while one was excluded, in its semi-annual index review (pdf). The biggest upgrade was for Adnoc Gas, which is now part of FTSE’s All-Cap, Large-Cap, All-World, and Total-Cap Indices, after state-owned oil giant Adnoc completed a USD 2.84 bn secondary offering of the unit in February 2025 — one of the largest ever on the ADX — boosting its freefloat and liquidity.

Onto the mid-cap: Data analytics firm Presight joined the midcap index, as well as the All-Cap, All-World, and Total-Cap indices. Presight inclusion came on the back of an increase in its market cap, which currently stands at AED 20.5 bn. The firm had a breakout performance in 1H 2025, netting AED 1.1 bn in revenues, an 80% y-o-y jump, and building a robust AED 3.7 bn order backlog as of June, underscoring increased appetite for AI plays.

PLUS- Plenty of micro-cap additions: Spinneys, due to a now eligible gross market cap, has joined the micro-cap index, alongside Alpha Data, which IPOed earlier this year and E7 Group, which saw increased liquidity.

On the flip side, Burjeel Holdings was dropped from the mid-cap basket, with FTSE citing a “failed investable market cap.” Its market cap currently stands at AED 7.8 bn. Logistics firm Al Seer Marine was also downgraded from the small-cap index to the micro cap.

Why it matters: Inclusion in a FTSE index signals that a company meets international standards on size and liquidity, which puts it on global investors’ radar. It also opens the door to passive inflows from funds and ETFs that track the benchmarks, boosting liquidity and visibility.

The changes will take effect after market close on Friday, 19 September 2025, according to a separate statement (pdf).

Salama’s chief financial officer resigns from his position

The CFO of The Islamic Arab Ins. Co. (Salama), Fadi Aboul Hosn (LinkedIn), is resigning for personal reasons, according to a DFM disclosure (pdf). Aboul Hosn will continue his role until 20 November 2025, after which the company will appoint his successor upon securing the necessary approvals from the CBUAE.

What sets DIFC and ADGM apart amid increased regional financial hub competition

The latest in Financial Times’ series looking at rival Middle East financial hubs puts Abu Dhabi — or the “capital of capital” — in the spotlight. The emirate, which holds some USD 1.7 tn in sovereign wealth assets, has sharpened its focus on attracting asset managers, private equity, and hedge funds, with the likes of PGIM, Nuveen, General Atlantic, Lone Star, and hedge fund Marshall Wace all joining recently. The total firm count rose to 2.8k operational entities by March, up a third from end-2024..

“There’s the same vibe in Abu Dhabi as there was in Hong Kong about 20 years ago,” one hedge fund employee told the FT, adding, “there’s a real sense of being on the ground floor of where the action is.” Abu Dhabi’s draw includes sovereign wealth firepower, zero taxes, its adoption of the English law, and crypto trading rules — though challenges remain, including limited transparency and an economy dominated by state entities and royal-linked firms.

The FT also recently looked at the Dubai International Finance Center (DIFC), which despite being around for decades longer, is now facing increased competition and a surge in cost pressures and traffic that has pushed some towards rivals like Abu Dhabi and Riyadh. One source said the DIFC is a “nice place to have dinner” while Abu Dhabi is better for dealmaking.

Still, this has not yet been reflected in the numbers. The hub has boomed since the pandemic, with company registrations more than doubling in four and a half years to 7.7k and headcount rising to nearly 48k as a rapid reopening during Covid-19 drew bankers in. The first half of 2025 was its strongest yet for new registrations. The emirate’s push into new sectors such as cryptocurrency — while carrying some risk — and its lifestyle lures have also helped increase its attraction for bankers.

The influx has strained infrastructure, with surging property prices and traffic congestion around the DIFC. Authorities plan to add 1.6 mn sq ft of office space by 2027 to ease the pressure.

One thing sets both the DIFC and ADGM apart, and that’s regulatory openness. Both emirates’ financial hubs benefit from an open approach from regulators, who sources said are “accessible, engaged, and ensuring that competitiveness is a key part of their mandate.”

RTA to expand DXB Terminal 1 bridge capacity

INFRASTRUCTURE-

RTA to improve airport traffic with DXB bridge expansion: Dubai Airports and the Roads and Transportation Authority (RTA) have awarded a contract to widen and upgrade the bridge leading to Dubai International Airport’s (DXB) Terminal 1, according to a press release. The project will add a lane to the bridge, making it four in total, by adding a new bridge using a system of steel box girders, expanding the total capacity from 4k to 5k vehicles — a 33% increase.

The project comes in a bid to reduce traffic congestion at the world’s busiest airport for international passengers. In 2015, the RTA also inked a USD 110 mn contract to upgrade its airport road, which included the construction of bridges and tunnels at Al Rashidiya, as well as a one-lane bridge leading directly to the airport’s Terminal 3.

SAFETY-

Adnoc, Backline Safety roll out multi-year safety tech agreement: Abu Dhabi National Oil Company (Adnoc) placed its first order under a multi-year agreement with Canadian global safety tech and manufacturing leader Backline Safety, according to a press release. Adnoc will purchase up to 28k safety devices — including 1k G6 wearable single-gas detectors and 1.2k Backline location beacons — through Backline Safety’s channel partner, Al Masaood.

Why this matters: The devices will help Adnoc — one of the world’s largest offshore oil and gas manufacturers, with a daily yield of 4 mn gallons of oil — improve its worker safety and operational oversight. The technology detects hazardous gas and provides precise, real-time location data for effective emergency response.

REAL ESTATE-

Al Huzaifa launches real estate arm with debut RAK project: UAE-based luxury furniture and interiors brand Al Huzaifa has set up Al Huzaifa Properties, a new real estate development arm, Khaleej Times reports. The company’s first project will deliver fully furnished residences on Al Marjan Island in Ras Al Khaimah.

REMEMBER- The island has emerged as one of the emirate’s top luxury destinations, with upcoming residential projects including The Astera, the Jacob & Co Residences, and Mondrian Beach Residences. It is also set to host hospitality and tourism ventures such as Fairmont Hotels and Resorts’ planned 769-key resort and the USD 3.9 bn Wynn Al Marjan Island gaming resort.

FINANCIAL SERVICES-

Solowin Holdings expands in the Middle East with new Dubai center: Hong Kong-based digital assets-focused fintech Solowin Holdings is launching its Dubai Operations Center and applying for a Category 3C asset management license from the Dubai International Financial Center (DIFC), according to a press release. The financial services firm recently inked an MoU with an unnamed prominent UAE firm in a bid to accelerate its market access. It will initially target institutional clients seeking sharia-compliant products backed by real-world assets and computing power.

The firm is also integrating “Saudi-based infrastructure resources,” it said without clarifying the details, as it says it looks to contribute to a cross-regional “digital financial silk road.”

Mutual recognition comes in handy: Solowin picked DIFC due to its mutual recognition of Hong Kong’s Securities and Futures Commission regulatory framework — which helps fast-track its regulatory approval process to three months. This move is part of a larger strategy to create a digital financial Silk Road, boosting regional investors’ access to digital asset management and tokenized products.

Oman’s stock rally revives IPO hopes, gives privatization drive a lift

A strong rally in Oman’s stock market is helping revive investor appetite for IPOs and reignite momentum behind the country’s stalled privatization program, writes Bloomberg. Muscat’s benchmark MSM 30 Index is up 18.5% since an April low, driven by credit rating upgrades, macro reforms, and improved performance by recent listings, including OQ Base Industries and OQ Exploration and Production — both of which had initially struggled after going public.

Oman’s IPO volumes had outpaced London’s in 2024, but lackluster early performance dampened sentiment, prompting Oman Electricity Transmission to pause its listing in March. Now, those same stocks are showing signs of recovery — with OQ Base Industries up more than 40% and OQ E&P up nearly 20% since April. The recovery has “restored investor confidence,” said Arqaam Capital’s Rawad Kassouf. Kamco Invest’s Junaid Ansari expects IPO activity to continue but with selectivity on valuations. Meanwhile, “generous dividends” yielding over 7% — among the highest in the GCC — are also helping ease investor concerns about liquidity, he added.

The government’s push to secure emerging-market status from MSCI is also drawing attention. Kassouf said the upgrade could unlock some USD 1 bn in passive and active fund inflows, improve liquidity, and drive re-ratings. Getting there will require more blue-chip listings, bigger freefloats, and consolidation among smaller players — all part of ongoing market reforms. OQ E&P’s share buyback plan might appear to run counter to this goal, but analysts see it as minor and likely offset by the recent rally.

Also in Oman’s favor is two investment-grade credit rating upgrades in under a year, driven by strong non-oil growth and falling public debt. The upgrades have lifted investor sentiment and “bode well for the privatization agenda,” according to Tellimer’s strategist Hasnain Malik.

The Muscat exchange has also been active in introducing liquidity-stabilization tools and market-making programs to boost efficiency. For their part, Omani companies have intensified investor outreach, showing up at more conferences and marketing events. If the rally holds, “investors will begin to see meaningful returns on recent IPOs which will help build confidence,” said Oman Investment Bank ECM head Ankit Garg. He added that momentum could help the sultanate move forward with its listing plans.

MARKETS THIS MORNING-

Asian markets are in the green in early trading this morning as investors react to Federal Reserve Chair Jerome Powell’s latest remarks signaling a rate cut in September. The Hang Seng is leading the gains, up 1.9%. Japan’s Nikkei, the Shanghai Composite, and the Kospi are all trailing behind.

ADX	10,209	+0.1% (YTD: +8.4%)
DFM	6,126	-0.0% (YTD: +18.8%)
Nasdaq Dubai UAE20	4,992	+0.1% (YTD: +19.9%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	4.2% o/n	4.2% 1 yr
TASI	10,905	+0.4% (YTD: -9.4%)
EGX30	35,811	+0.5% (YTD: +20.4%)
S&P 500	6,466	+1.5% (YTD: +10%)
FTSE 100	9,321	+0.1% (YTD: +14%)
Euro Stoxx 50	5,488	+0.5% (YTD: +12.1%)
Brent crude	USD 67.82	+0.1%
Natural gas (Nymex)	USD 2.64	-2.2%
Gold	USD 3,413	-0.2%
BTC	USD 113,355	-1.7% (YTD: +20.7%)
Chimera JP Morgan UAE Bond UCITS ETF	AED 3.49	0.0% (YTD: +0.2%)
S&P MENA Bond & Sukuk	148.48	+0.3% (YTD: +6.1%)
VIX (Volatility Index)	14.22	-14.3% (YTD: -18%)

THE CLOSING BELL-

The ADX rose 0.1% on Friday on turnover of AED 946.2 mn. The index is up 8.4% YTD.

In the green: Gulf Cement (+11.2%), Aram Group (+5.7%) and Multiply Group (+3.7%).

In the red: Al Khaleej Investment (-4.3%), Fujairah Cement Industries (-2.7%) and Hily Holding (-2.5%).

Over on the DFM, the index inched down 0.03% on turnover of AED 450.6 mn. Meanwhile, Nasdaq Dubai was up 0.1%.

UAE mediates 17th Russia-Ukraine prisoner swap

The UAE helped broker yet another exchange of 292 captives — 146 from each side — between Russia and Ukraine, state news agency Wam reports. It is the 17th prisoner swap mediated by the UAE since the start of the conflict, bringing the total number of prisoners exchanged through its efforts to more than 4.6k. The most recent swap took place earlier this month.

CALENDAR

SEPTEMBER

1-6 September (Monday-Saturday): Dubai Fashion Week, Dubai Design District.

7 September (Sunday) Opec+ meet to discuss production policy for October.

9 September (Tuesday): Envision 2025, Atlantis, The Royal, Dubai.

8-10 September (Monday-Wednesday): DigiHealth exhibition, World Trade Center, Dubai.

8-10 September (Monday-Wednesday): WHX-Tech Expo, Dubai World Trade Center.

8-19 September (Monday-Friday): Universal Postal Congress, Dubai World Trade Center.

8-18 September (Monday-Thursday): BHM Capital Financial Services’s AED 200 mn rights issue will be open for subscriptions.

10-11 September (Wednesday-Thursday): MENA Public-Private Partnership Forum, Dubai.

10-11 September (Wednesday-Thursday): Annual International Government Communication Forum, Expo Centre Sharjah.

10-20 September (Wednesday-Saturday): IFMA Youth World Muay Thai Championship, Abu Dhabi.

12-14 September (Friday-Sunday): The International Real Estate and Investment Show, Abu Dhabi.

17-18 September (Wednesday-Thursday): SHRM MENA hosts its Annual Conference + Expo, Madinat Jumeirah, Dubai.

16-17 September (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

23-24 September (Tuesday-Wednesday): MENA EV Show, The Agenda, Dubai Media City.

24-25 September (Wednesday-Thursday): The KT UniExpo, The H Dubai.

24-25 September (Wednesday-Thursday): Mohammed Bin Rashid Leadership Forum, Mohammed Bin Rashid Center for Leadership Development, Dubai.

24-25 September (Wednesday-Thursday): Dubai World Congress for Self-Driving Transport, Dubai.

25-27 September (Thursday-Saturday): International Congress of Medical Excellence in Dermatology and Aesthetic Med, Dubai World Trade Centre.

30 September (Tuesday): Africa Debate Conference, Dubai.

30 September (Tuesday): Dubai Podfest, Dubai.

OCTOBER

1-2 October (Thursday-Friday): World Green Economy Summit (WGES), Dubai World Trade Center.

30 September-2 October (Tuesday-Thursday): The Water, Energy, Technology, and Environment Exhibition (WETEX), Dubai World Trade Center.

3-16 October (Friday-Thursday): Dubai Home Festival.

7 October (Tuesday): Enterprise Egypt Forum 2025.

7-9 October (Tuesday-Thursday): The International Symposium on the System of Radiological Protection, the Ritz-Carlton Abu Dhabi, Grand Canal.

9 October (Thursday): Family Office Summit, Park Hyatt, Dubai.

9-15 October (Thursday-Wednesday): IUCN World Conservation Congress, Abu Dhabi.

12-15 October (Sunday-Wednesday): Expand North Star, Dubai Harbor.

14-16 October (Tuesday-Thursday): Global Future Councils, Dubai.

15-18 October (Wednesday-Saturday): Middle East Electric Vehicle Show, Expo Center Sharjah.

20 October (Monday): Reuters NEXT Gulf Summit, The St. Regis Saadiyat Island Resort, Abu Dhabi.

22-24 October (Wednesday-Friday): World Investment Conference, Expo Center Sharjah.

27 October (Monday): The UAE Africa Tourism Investment Summit, Dubai.

27-29 October (Monday-Wednesday): Future Hospitality Summit, Madinat Jumeirah, Dubai.

27-29 October (Monday-Wednesday): Asia Pacific Cities Summit, Dubai Exhibition Center.

28-29 October (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

NOVEMBER

1-2 November (Saturday-Sunday): Women's Empowerment Convention (WE Convention), Atlantis The Royal, Dubai.

4-9 November (Tuesday-Saturday):Dubai Design Week, Dubai.

10-15 November (Monday-Saturday): SASC organizes Abu Dhabi Autonomous Week, Abu Dhabi.

11-17 November (Tuesday-Monday): International Council of Museums (ICOM) General Conference, Dubai

12 November (Wednesday): Dubai Business Forum, Cipriani South Street, New York City.

12-17 November (Wednesday-Monday): RoboCup Asia-Pacific, Khalifa University, Abu Dhabi.

13-15 November (Thursday-Saturday): International Financial Markets (ICA) Conference and Exhibition, Conrad Dubai.

15-17 November (Saturday-Monday): Myplant & Garden Middle East Green Expo, Dubai Exhibition Center, Expo City.

17-21 November (Monday-Friday): Dubai Airshow, Al Maktoum International Airport, Dubai.

18-19 November (Tuesday-Wednesday): Dubai Future Forum, Museum of the Future, Dubai.

DECEMBER

1-3 December (Monday-Wednesday): Eid Al Etihad (UAE National Day).

1-5 December (Monday-Friday): The World Congress of Neurosurgery, Dubai World Trade Center.

7-14 December (Sunday-Sunday): Asian Youth Para Games, APC headquarters, Dubai.

8-9 December (Monday-Tuesday): BTC Mena Conference, Adnec, Abu Dhabi.

8-9 December (Monday-Tuesday): Global AI Show 2025, Abu Dhabi.

8-10 December (Monday-Wednesday): Bridge media summit, Abu Dhabi.

8-11 December (Monday-Thursday): Abu Dhabi Finance Week, Al Maryah Island.

9-10 December (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

18-23 December (Thursday-Tuesday): Games of the Future, Adnec, Abu Dhabi.

29-30 December (Monday-Tuesday): World Sports Summit, Dubai.

Signposted to happen sometime in 2025:

e& will complete Adnoc’s private 5G network.
Executive Committee Meeting (EXCOM 2025) conference of the World Smart Sustainable Cities Organisation (WeGO)

Signposted to happen sometime in 2H 2025:

Closing of XRG's acquisition of Covestro

JANUARY 2026

1 January: Client asset regime changes in Dubai International Financial Center take effect.

9-11 January (Friday-Sunday): 1 Bn Followers Summit, UAE.

28-29 January (Wednesday-Thursday): IBA Arbitration Day Conference, Abu Dhabi.

28-30 January (Wednesday-Friday): World Customs Organization Technology Conference, Adnec Center, Abu Dhabi.

FEBRUARY 2026

3-5 February (Tuesday-Thursday): The World Governments Summit.

12-15 February (Thursday-Sunday): The Society for Incentive Travel Excellence Global Conference, Abu Dhabi.

9-13 February (Monday-Friday): The World Health Expo (WHX), Dubai.

Signposted to happen in 2026:

31 March - 2 April (Tuesday-Thursday): Arab Media Summit, Dubai.
13-15 April ( Monday-Wednesday) : The International Glass Manufacturing Show, Dubai.
14-16 April: (Tuesday-Thursday): the International Property Show, Sheikh Zayed Rd, Dubai.
11-13 May (Monday-Wednesday): AI Everything Global, Adnec Center.
The UAE to host the Arab Competition Forum
Dubai to host the Arab Actuarial Conference
United Nations Water Conference
Dubai Future Finance Week
Investopia Global Talks, Tashkent

Signposted to happen sometime in October 2026:

Abu Dhabi Space Week, Abu Dhabi.

Signposted to happen sometime in 2027:

1Q 2027: Completion of the first phase of Hassyan seawater desalination project.
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 between 2027 and 2029:

Sibos 2029 organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), Dubai.
The commissioning of the seventh phase of Mohammed bin Rashid Al Maktoum Solar Park.

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