Will food supply be an issue for the UAE?

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WHAT WE’RE TRACKING TODAY

THIS MORNING: More force majeure declared + G7, IEA eye emergency oil taps

Good morning, friends. Yesterday saw the lowest number of attacks on the UAE since the start of the war, with 15 ballistic missiles and 18 drones launched toward the country. One interception resulted in two injuries in Abu Dhabi of Jordanian and Egyptian nationals.

Did Trump just give us reason to believe the end of the war is upon us? US President Donald Trump last night said that the war will end “very soon.” The messaging from the White House sent oil prices tumbling from nearly USD 120 / bbl during trading to below USD 90 / bbl.

Before you get your hopes up: Trump threatened bombing “at a much, much harder level” if Tehran disrupted oil supplies. The administration aims to keep down oil prices after they “went artificially up” following the US-Israeli strikes on Iran, Trump said.

Tehran isn’t backing down: Iran’s Revolutionary Guards said it would not allow “one liter of oil” to leave the region if US-Israeli strikes continue.

CLOSER TO HOME- The region is seeing more force majeure declarations and project delays, as key energy producers grapple with the war’s pressure on operational continuity.

Bahrain’s national oil firm Bapco invoked force majeure at its 400k bbl / d refinery after it was damaged by an Iranian missile strike, according to a press release. QatarEnergy also pushed back its North Field East facility expansion until at least 2027, following a drone attack on the Ras Laffan plant, Bloomberg reports, noting that the holdup at the 32 mtpa plant could stave off a supply glut.

This follows QatarEnergy’s declaration of force majeure lastweek, while more recently, both Iraq and Kuwait reduced oil production.

Diplomatically, Gulf countries are pushing for an end to the fighting. Bahrain has submitted a draft resolution to the UN Security Council calling for a ceasefire and condemning Iranian strikes on Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, the UAE, and Jordan.

AND- The UAE ambassador to the UN called for the de-escalation of the conflict on Monday, Reuters reports. “[De-escalation] is a standing position we have, and we will continue to offer that,” he told reporters. The envoy stressed that US military bases in the Emirates would not be used for strikes against Iran, despite the “unwarranted manner” in which the Islamic Republic attacked the UAE.

Missiles now front and center in any future Iran negotiations: The UAE says any future negotiations with Iran must address Tehran’s missile and drone capabilities — not just its nuclear program — after weeks of Iranian attacks on Gulf countries, The National quotes an Emirati official as saying.

REMEMBER- The UAE has borne the brunt of Iran’s attacks so far, intercepting around 1.35k out of 1.44k Iranian drones, 253 ballistic missiles, and eight cruise missiles, according to the latest tally.

It’s been beefing up its war chest since then: South Korea reportedly expedited the delivery of 30 Cheongung-II surface-to-air guided missiles to the UAE, following an urgent request from Emirati officials. The delivery, which arrived through a UAE transport aircraft at Daegu Airport, advances the original supply schedule after the system achieved a 96% interception success rate during recent Iranian airstrikes.

IN TODAY’S ISSUE- The effective closure of the Strait of Hormuz is threatening a disruption to the UAE’s — and the wider region’s — food supply, but market players tell us in this morning’s Big Story Today that the impact won’t be felt unless the disruption is prolonged. Alternatives exist, but the threat of higher prices and slower, less efficient supply chains would become a concern should the war continue for months rather than weeks.

Meanwhile, Moody’s sees the UAE’s property market potentially cooling down due to regional tensions, but it doesn’t see an outright correction. Confidence might shake, but certain segments that already suffer from tight supply are likely to continue seeing price growth.

In a parallel universe: Abu Dhabi’s new investment powerhouse, IHC’s Judan, just made its first overseas play, acquiring a stake in OpenAI investor Alpha Wave.

Sentiment watch

The consensus among analysts so far seems to be this: The majority of people just want to go back to their normal lives, not to jump ship, as Jason Tuvey, deputy chief emerging markets economist at Capital Economics, told Bloomberg, and Confluence Consultants’ Amandeep Ahuja told us earlier last week.

Most companies are keeping things flexible, with some Wall Street banks allowing staff to temporarily work from abroad depending on their situations, Bloomberg reports separately.

And others are reaffirming their commitment to the region. HSBC Group CEO Georges Elhedery said in a statement seen by EnterpriseAM that the bank “remains steadfast in [its] confidence in the GCC and in the long-term strength, resilience, and promise of the region,” referencing solid fundamentals and its endurance during times of crisis.

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, issued a similar statement (pdf), with co-CEO Helen Liu saying: “Some companies are reassessing their Gulf exposure right now. We are doing the opposite. We are deepening our presence, our investment, and our commitment to this region.”

Oil watch

G7, IEA are readying the emergency oil taps as Brent fluctuates. G7 finance ministers and the International Energy Agency (IEA) held an emergency meeting to discuss a massive, coordinated release of strategic oil reserves, though they decided to hold off for now while the group monitors the situation, Bloomberg quotes France’s Finance Minister Roland Lescure as saying.

This would come after a historic surge in crude prices — triggered by the conflict in the Gulf — propelled Brent 24% higher in Asia to trade at over USD 116 as of Monday before cooling down after Trump signaled that the war is nearing its end.

US officials are reportedly considering a release of up to 400 mn barrels, CNBC reports, nearly 30% of the total IEA reserve, in an effort to soothe markets. Analysts suggest the record price spike has left them little choice, despite previous reluctance under the Trump administration.

More industry impact

AUTOMOTIVE — Hormuz closure triggers car market paralysis: While used vehicles could become a primary market focus due to an expected decline in demand for premium brands in a high-price environment, as we reported last week, the closure of the Strait of Hormuz has paralyzed a corridor for Japanese and South Korean used-vehicle exports, Nikkei Asia reports. The halt on re-exports through the UAE is expected to trigger a supply crunch and jack up prices across Middle Eastern and African markets.

IN CONTEXT- Most vehicles entering the UAE are imported as fully built-up units, with the Emirates being Japan’s primary market, accounting for 15% of its total re-export volume. As escalating tensions halted regional operations, car sales came to a complete halt last week. The shift could pivot local demand toward used vehicles and more affordable segments, Fitch Solutions Senior Research Analyst Santiago Arieu told us.

And in non-war-related news…

REAL ESTATE — DIFC is still getting ready for more demand with a new commercial district: Dubai International Financial Center delivered DIFC Square ahead of schedule, adding 600k sq ft of Grade A office space to Dubai’s tightest commercial district — and arriving fully pre-leased, according to a statement from the center.

The names moving in are heavyweight enough: Tenants include Deutsche Bank, Moody's, and Bank of Singapore, with several existing firms expanding their footprint and freeing up fresh room in Gate District and Gate Village.

Think of it less as a handover and more as a pressure valve. As tenants shift to DIFC Square, roughly 100k sq ft opens elsewhere inside the district — offering modest relief for a financial hub where vacancy has become almost theoretical after occupancy hit 99.8%.

REMEMBER- DIFC is expanding in two acts, not one: While the first phase adds 600k sq ft, a second AED 100 bn buildout is designed to accommodate 42k companies and 125k workers.

CAPITAL MARKETS — Morgan Stanley downgraded its outlook on UAE equities to equal-weight due to heightened regional geopolitical uncertainty, Investing.com reports, citing a note by strategists Matthew Nguyen and Emily Woods. The bank is pivoting toward Saudi Arabia (now overweight), arguing that the Kingdom offers a better defensive hedge due to the benefits it’s set to gain from higher energy prices, and as the UAE is more exposed to geopolitical tensions. Egypt was also cut to an equal-weight rating.

A tale of two cities: The bank warns that Dubai is highly sensitive to geopolitical shocks that could dent tourism demand and cool property markets. On the other hand, it positions Abu Dhabi as resilient, supported by its heavy weighting in energy and sovereign-backed banks.

COMMODITIES — London-bound gold in Dubai is trading at a markdown as flight constraints build up bullion in the local market, Reuters reports, citing analysts and traders. Demand for the precious metal remains tepid as markets are uncertain over the length of the ongoing regional conflict. Trading in the emirate — a gold trading hub — has been disrupted for 10 days, affecting gold flows to Switzerland, Hong Kong, India, and other markets.

PSA

Several major Dubai attractions are extending temporary closures, with Global Village, Ain Dubai, and Dubai Parks and Resorts among the names suspending operations yesterday as a precautionary step following official guidance tied to ongoing regional developments. Dubai’s Global Village said it will remain closed until further notice, while Ain Dubai confirmed a temporary shutdown, and Dubai Parks and Resorts halted operations for the day.

⛈️WEATHER- More rain incoming: Be careful driving this morning. Dubai and Abu Dhabi are expected to get some more rain early today following last night’s brief drizzle, with highs of 28-29°C expected and lows of 22-23°C.

The big story abroad

Apart from Trump’s comments on the regional war (which we dive into in the news well, above), a few stories are getting top billing.

#1- Anthropic is suing the Pentagon and other federal agencies for designating the AI firm a “supply chain risk” and attempting to cancel its federal contracts. The row began when Anthropic demanded assurances that its AI tools wouldn’t be leveraged by the Pentagon for mass domestic surveillance or autonomous weapons.

#2- Goldman Sachs has pitched a new hedge fund that allows it to assume a short or long position on corporate loans, the Financial Times reports. The financial product would allow clients to capitalize on further falls in loans made to software companies, after the sector saw its stocks tumble as AI developments threatened its business offerings.

#3- Washington agreed to resolve its longstanding prosecution of Turkey’s state-run Halkbank, which it had accused of aiding Iran in evading US-imposed sanctions.

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Is our food supply at risk?

Yes — Hormuz matters for way more than oil and gas: A big chunk of the Gulf region’s food imports goes through the Strait of Hormuz — around 70%, Neil Quilliam, associate fellow at think tank Chatham House, was quoted as saying by Reuters. And when it comes to the region’s agriculture sector, roughly o ne-third of global fertilizer shipments pass through the strait. Nitrogen fertilizers, which are used for half of global food production, mostly come from the Gulf and move through the strait.

By the numbers: Around 55-60 mn tons of urea are shipped by sea annually, with the Middle East accounting for some 40-50% of that volume. Iran exports roughly 5 mn tons, while Saudi Arabia contributes around 4-5 mn tons through producers like Sabic. Qatar accounts for roughly 11% of global urea exports, according to Bloomberg Intelligence analyst Alexis Maxwell. The country exports some 5.5-6 mn tons of urea and ammonia annually from its Qafco complex.

With shipping through the passageway disrupted, fertilizer markets are already repricing the risk — raising the prospect of higher crop input costs and, eventually, food prices. The rise in oil and gas prices also amplifies the pressure, since natgas is the main input for nitrogen fertilizers. “Natural gas’ key role as a fertilizer input could hit agricultural producers, impacting food prices,” MENA Director at Horizon Engage Andrew G. Farrand tells EnterpriseAM.

Market reax: Prices for granular urea jumped USD 60 per ton after the effective closure of the strait. In the US Gulf, spot for urea jumped USD 60-80 from last week, with traders warning that increases could follow if disruptions persist. Buyers are already eyeing other markets like North Africa and Southeast Asia for supplies, Bloomberg Green Markets reported.

For import-dependent Gulf economies like ours, the question is not whether fertilizer markets move — but how quickly those shocks filter into the region’s food supply chain. The UAE imports between 80 and 90% of its food supply, and a large portion of imports comes from Iran itself, which has banned the export of food and agricultural products indefinitely.

Officials have urged calm, with the Economy Ministry confirming it has four to six months’ worth of stockpiles of essential commodities on hand.

And retailers are already scrambling to reinforce food supply chains: UAE retailer Lulu Group began chartering cargo flights to secure the food supply chain, with a freighter that carried around 80 tons of fruits and vegetables from India landing in Abu Dhabi. Additional shipments are being arranged.

Market players don’t expect a major hit in the near term, but the concern is whether the disruptions are prolonged. “A huge portion of the region’s food supply is imported into the UAE and re-exported out,” Kurtz said. That logistics scale, combined with extensive cold-chain infrastructure, helps absorb short-term shocks.

What can be done?

Alternative export routes — such as air freight or trucking corridors via friendly neighbors — may offer limited relief, but they are slow and significantly more expensive. If disruption through Hormuz persists, the UAE’s highly efficient import system can keep food flowing but at a higher cost.

The government also coordinates with and supports agricultural businesses in the country in terms of logistics, which helps offer support even in the case of a sustained disruption, Kurtz added.

Subsidies could come at some point: “It may be that ⁠governments choose to absorb some of that cost through subsidizing the food. And they've certainly done that in previous crises, Reuters quotes Justin Alexander, Gulf analyst at GlobalSource Partners and director at Khalij Economics, as saying.

This could be local high-tech agribusinesses’ time to shine, but bottlenecks remain

Gulf growers carry several weeks — five to eight — of core inputs on hand, including fertilizers, helping cushion short disruptions, CEO of Pure Harvest Sky Kurtz tells EnterpriseAM. High-tech growers like Pure Harvest also use very little fertilizer as part of their precision farming methods, he explained.

Fertilizers may not even be the first agricultural bottleneck to bite: For Pure Harvest, specialty inputs such as pollinators and biological pest-control supplies can become harder to replace before fertilizer shortages become tight, Kurtz tells us. That means prolonged disruption can start weighing on yields through the wider agricultural input chain — not just through urea prices alone.

Looking ahead

The UAE has a target to slash its reliance on imports for food supply to just 50% by 2050 and has several initiatives in place to grow climate-adaptive crops and boost local output in areas like Ras Al Khaimah. It also encourages further innovation in the sector through initiatives like the AGRIX Accelerator and the Food and Agriculture Entrepreneurs Pro.

“Long term, if this results in the region rethinking its policy and its tolerance of imports, this could present [a prospect] for us to have higher quality and greater variety of products in the market, as well as true intangible food security, economic diversification gains, capital formation, and huge foreign direct investment,” Kurtz said.

The major challenge for players like these? Access to capital, Kurtz noted, highlighting the need for a development finance institution-style entity to provide low-cost, long-term infrastructure project financing. This would allow high-tech agribusinesses to scale and offer products at lower costs to compete with cheaper imports, he added.

Property market could see a cooldown, not a correction, due to the war -Moody’s

Dubai property is still priced for moderation, not panic. Moody’s sees the market cooling rather than correcting even as geopolitical tension rises across the Gulf and a heavy supply wave approaches, according to a report picked up by Gulf News. The base case remains a mild slowdown — unless confidence takes a direct hit.

For now, demand is still doing the heavy lifting: Dubai enters this phase after seeing AED 917 bn across more than 270k transactions last year, with off-plan accounting for roughly 72% of residential activity, Moody’s notes. Foreign appetite remains elevated, and January data suggests momentum is still carrying into 2026.

But not every postcode is entering the same cycle: “Price developments will differ significantly across market segments,” Moody’s Lisa Jaeger said. The agency expects small outright declines in apartments — especially affordable studios and one-beds in supply-heavy districts — while villas should keep rising, just at a slower clip, helped by “more resilient demand dynamics and tighter effective supply.”

The real pressure point is volume: Around 180k residential units are due between 2026 and 2028 — roughly 60k a year, about double recent delivery norms. Moody’s says that remains manageable if population growth stays near the recent 6% pace, but becomes much tighter if Dubai slips back toward its longer-run 3% trend, where roughly 40k new units annually would keep prices broadly stable.

Which is why war matters less for supply than for sentiment: Moody’s is explicit that cranes alone do not break this market — “a sharper correction would most likely be triggered by a loss of confidence, rather than by supply alone,” Jaeger said. In other words, geopolitics, not oversupply, remains the faster-moving risk variable.

One cushion developers still have is revenue they have already sold but haven’t yet recognized. Rated developers are sitting on backlogs worth two to four times annual revenue, meaning even if fresh sales soften, major names remain insulated for the next one to two years. Smaller and newer developers, Moody’s notes, do not enjoy the same buffer.

ICYMI- We flagged yesterday that developers are likely to edge into defensive mode, with Fitch expecting large UAE players to prioritize liquidity over aggressive launches if buyer sentiment weakens. These developers will likely lean on escrow buffers and pre-sales while waiting to see if current market noise turns into hesitation.

IHC’s Judan bags a majority stake in OpenAI investor

IHC’s Judan snatches a majority stake in OpenAI investor: Abu Dhabi-based International Holding Company (IHC)’s recently established USD 237 bn financial services holding company Judan is bagging a 50.1% stake in alternative asset manager Alpha Wave Global, according to a stateme nt.

What we know: Alpha Wave will continue to lead under its CEO Rick Gerson (LinkedIn) while collaborating with Judan to boost the rollout of its AI-native life ins. business. The details of the financial transaction were not disclosed.

Alpha Wave? The firm has USD 29 bn in assets under management (AUM) and holds stakes in major international AI names like OpenAI, SpaceX, and Anthropic. It has been involved with some Emirati heavyweights for quite some time. Back in 2022, it launched a USD 2 bn private credit fund with Chimera Capital and set up the Abu Dhabi Catalyst Partners JV with Mubadala Capital.

The bigger picture

IHC established the investment powerhouse last month to increase the firm’s exposure to diversified financial services and attract third-party and institutional capital. The move brought together over 20 financial services firms with upwards of AED 870 bn in AUM between them, and came within Abu Dhabi’s broader investment reshuffle that merges smaller funds into large-scale investment vehicles.

One consolidation after another: In February, Abu Dhabi’s ADQ was absorbed into L’Imad, a newer sovereign investment firm chaired by Crown Prince Khaled bin Mohamed bin Zayed Al Nahyan with reportedly as much as USD 500 bn in AUM. Last year also saw IHC make a consolidation play, merging its subsidiaries Multiply Group, 2PointZero, and Ghitha Holding into an AED 120 bn powerhouse.

Amlak offsets losses in 2025 earnings

Amlak Finance has offset its accumulated losses thanks to strong financial results in 2025, the firm said in a press release (pdf). Property sales from its Ras Al Khor plots gave an AED 2.1 bn boost, helping the firm close out the year with AED 1.5 bn in net income, up from AED 12.5 mn the year before.

Revenues from development properties also rose significantly, reaching almost AED 3 bn, compared to AED 72.4 mn the year before, while income from deposits and Islamic financing also ticked up, according to its financials (pdf).

ICYMI- 2025 was about rebalancing and redirection for Amlak. Toward the end of last year, Amlak settled its debt ahead of schedule, repaying AED 10.2 bn owed to 29 financiers since 2014 by utilizing proceeds from land asset sales. It has also been working to shed its non-core assets, with 2025 seeing Amlak sell its Egypt arm for AED 30.8 mn and exit its stake in Saudi-based Amlak International Finance Company for AED 197.3 mn.

Dechert brings back Phillip Sacks to lead Dubai office

US law firm Dechert rehired investment funds specialist Phillip Sacks (LinkedIn) as managing partner of its Dubai office, according to a press release. Sacks returns to the firm after almost two and a half years in White & Case’s Dubai office. He previously spent more than seven years at Dechert’s Dubai office and has nearly two decades of experience advising financial institutions, fund managers, and sovereign wealth funds across the Middle East.

Dechert said the hire supports its plans to expand its investment management capabilities in the region. The firm has been active in the Middle East for more than a decade from its DIFC base.

Investors seek protection through credit default swaps

US and European credit markets are on edge, and investors are starting to hedge while it’s cheap. Banks and financial advisors like Barclays and Morgan Stanley are recommending clients turn to credit default swap (CDS) protection on the high-yield US index to hedge against possible defaults, Bloomberg reports. This comes as risks around prolonged geopolitical tensions, AI concerns, and a weakening US jobs market threaten markets.

Turning to derivatives: Prices were up 3 basis points this past week for protection on high-grade US corporate bonds as spreads on cashbonds tightened. Investors are being advised to sell less profitable protection to fund the swaps, and bullish positions in high-grade credit-default swap indexes fell by about a fifth in recent weeks, according to data from the business information service.

Why now? The risks from geopolitics and signs of cracks in the private credit market aren’t fully priced in, making this a good time to lock in protection, portfolio manager at Saba Capital Management Andrew Weinberg said.

ICYMI- Private credit is under the microscope. The asset class is currently struggling with slow inflows, mounting withdrawals, and warnings of defaults spiking as corporate, AI boom-linked debt rises. UBS forecast private credit default rates could reach 15%, though Ares Management’s CEO Mike Arougheti called that “absolutely wrong,” and Goldman Sachs’ CEO said the fears are overblown.

MARKETS THIS MORNING-

Asia-Pacific markets rebounded strongly in early trading this morning, coinciding with falling oil prices and easing concerns over the war in the region, especially after Trump said the war is nearing its end. Japan’s Nikkei surged over 3%, while South Korea’s Kospi jumped more than 6%. The sentiment is yet to hit Wall Street, with futures broadly in the red.

ADX	9,863	-0.4% (YTD: -1.3%)
DFM	5,754	-2.8% (YTD: -4.9%)
Nasdaq Dubai UAE20	4,736	-2.7% (YTD: -3.1%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	3.6% o/n	3.7% 1 yr
TASI	10,831	-1.6% (YTD: +3.2%)
EGX30	46,415	-0.8% (YTD: +10.9%)
S&P 500	6,796	+0.8% (YTD: -0.7%)
FTSE 100	10,250	-0.3% (YTD: +3.2%)
Euro Stoxx 50	5,685	-0.6% (YTD: -1.8%)
Brent crude	USD 88.84	-10.2%
Natural gas (Nymex)	USD 3.08	-1.2%
Gold	USD 5,152	+1.0%
BTC	USD 68,460	+3.1% (YTD: -21.9%)
Chimera JP Morgan UAE Bond UCITS ETF	AED 3.66	-1.9% (YTD: -0.2%)
S&P MENA Bond & Sukuk	1,030	+0.1% (YTD: +3.8%)
VIX (Volatility Index)	25.73	-13.3% (YTD: +84.6%)

THE CLOSING BELL-

The ADX fell 0.4% yesterday on turnover of AED 1.2 bn. The index is down 1.3% YTD.

In the green: E7 Group Warrants (+13.0%), Umm Al Qaiwain General Investment Co. (+10.7%), and Fujairah Building Industries (+10.3%).

In the red: Aldar Properties (-5.0%), Rak Properties (-5.0%), and Abu Dhabi Islamic Bank (-4.9%).

Over on the DFM, the index fell 2.8% on turnover of AED 711.4 mn. Meanwhile, Nasdaq Dubai was down 2.7%.

CALENDAR

MARCH

19-20 March (Thursday-Friday): Eid Al Fitr, public holiday.

26-28 March (Thursday-Saturday): Social Capital Conference, Dubai.

28-29 March (Saturday-Sunday): Emirates International Congress on AI & Visionary Leadership in Transforming Healthcare, Adnec Center Abu Dhabi.

30 March - 2 April (Monday-Thursday): IAAPA Middle East Exhibition and Conference, Adnec Center, Abu Dhabi.

31 March - 2 April (Tuesday-Thursday): Arab Media Summit, Dubai.

31 March-2 April (Tuesday-Thursday): Investopia, Abu Dhabi.

APRIL

6-9 April (Monday-Thursday): Dubai AI Week, Dubai.

7-8 April (Tuesday-Wednesday): Dubai AI Festival, Dubai World Trade Center, Dubai.

7-9 April (Tuesday-Thursday): Future Health Summit, Adnec Center Abu Dhabi.

7-9 April (Tuesday-Thursday): Middle East Energy, Dubai World Trade Center, Dubai.

13-15 April (Monday-Wednesday): AIM Congress, Dubai World Trade Center.

13-15 April (Monday-Wednesday): The International Glass Manufacturing Show, Dubai.

14-16 April: (Tuesday-Thursday): International Property Show, Sheikh Zayed Rd, Dubai.

21-23 April (Tuesday-Thursday): UITP Public Transport Summit, Dubai.

28-29 April (Tuesday-Wednesday): Innovation Summit Middle East & Africa, Abu Dhabi.

29 April (Wednesday): Digital Transformation Summit, Sofitel, Abu Dhabi.

MAY

4-8 May (Wednesday-Saturday): Make It in the Emirates, Adnec Center, Abu Dhabi.

8-24 May (Saturday-Sunday): Dubai Esports and Games Festival, Dubai.

11-13 May (Monday-Wednesday): AI Everything Global, Adnec Center, Abu Dhabi.

11-15 May (Monday-Friday): Dubai Future Finance Week, Dubai.

12-14 May (Tuesday-Thursday): Airport Show, Dubai World Trade Center, Dubai.

19-20 May (Tuesday-Wednesday): Capital Market Summit, Madinat Jumeirah, Dubai.

19-22 May (Tuesday-Friday): Abu Dhabi Water and Energy Week, Adnec Center, Abu Dhabi.

20-21 May (Wednesday-Thursday): Arab Competition Forum, Dubai.

JUNE

3-4 June (Wednesday-Thursday): Annual MENA Investor Conference, Ritz-Carlton DIFC, Dubai.

15 June - 15 September (Monday-Thursday): Dubai Mallathon, Dubai.

JULY

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

OCTOBER

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

Signposted to happen sometime in October 2026:

Abu Dhabi Space Week, Abu Dhabi.

NOVEMBER

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

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

DECEMBER

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

Signposted to happen in 2026:

Investopia Global Talks, Tashkent.

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;
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;
The commissioning of the seventh phase of Mohammed bin Rashid Al Maktoum Solar Park.

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Today at a glance

THIS MORNING: More force majeure declared + G7, IEA eye emergency oil taps