Relief coming for Abu Dhabi tenants

1

WHAT WE’RE TRACKING TODAY

THIS MORNING: Adnoc resumes naphtha exports via Oman + eyes a multi-fuel pipeline bypassing Hormuz

Good morning, friends. Our Big Story Today will bring welcome relief to tenants in Abu Dhabi, as the emirate puts a blanket freeze on rent increases across residential, commercial, and industrial properties, in what experts told us is “one of the most significant real estate regulatory interventions in recent years.”

Meanwhile, some of the UAE’s biggest names are making expansion moves, with Core42 upping capacity at one of its US AI infrastructure sites and AD Ports expanding into Brazil with a USD 835 mn acquisition.

We also have more news of Adnoc hedging against future disruptions in the Strait of Hormuz, with plans for a multi-fuel pipeline to export gasoline, diesel, and jet fuel. It’s also been restarting naphtha exports through Oman’s Sohar port to buyers in Asia.

Plus: ADCB is integrating its banking infrastructure with Binance, and BlueFive Capital has made another bumper investment, this time by leading a USD 250 mn funding round for autonomous delivery startup CargoX.

BUT FIRST- The latest war updates: Iran launched fresh attacks on Kuwait and Bahrain last night — some failed en route and others were intercepted. In response, US forces launched “self-defense” strikes on Iran’s Qeshm Island.

WEATHER- Look for highs of 39-40°C in both Dubai and Abu Dhabi, and a low of 31°C, according to our favorite weather app.

Earning well is not the same as investing well — and for most mid-level executives and entrepreneurs, the gap between the two is wider than they’d like to admit. The financial landscape has shifted. Regional markets are opening up, AI is rewriting how portfolios get managed, and Real Estate Investment Trusts (REITs) are entering the conversation.

And the questions that used to feel straightforward — buy or rent, fund the startup or play it safe, finance the car now or wait it out — are harder to answer than ever.

In Issue 2 of EnterpriseAM Money Matters, we get into the decisions that don’t have easy answers, because at this stage, playing it safe is the riskiest move you can make.

Tap or click here to subscribe to the Egypt edition, delivered to your inbox today, 12pm UAE.

Adnoc is preparing for a tough landscape ahead for global flows

State oil giant Adnoc resumed naphtha exports using a different route through Oman’s Sohar port, driving prices down to their lowest levels since the start of the war, traders told Reuters. The alternative route opens up a way to ship exports to Asia and comes as Adnoc pushes to develop similar routes that bypass the Strait of Hormuz.

The route has eased price pressures as well: Prices for naphtha delivery in the second half of July dipped to USD 788 per ton in Asia, down from USD 1.3k in March for a region which is heavily dependent on Gulf imports. Adnoc had been holding on to around 1 mn tons per month of naphtha since April on account of the Hormuz disruption.

Adnoc is also offering up barrels in a spot tender, Reuters reports elsewhere. Up to 2 mn barrels of Upper Zakum, Das, and Umm Lulu crude are available per customer.

Our take: Spot tenders are usually used to clear surplus barrels, which are likely sitting due to the blockade. Still, some Adnoc LNG tankers have passed through the strait with their tracking systems off.

This comes as Philippe Khoury, Adnoc’s executive vice president for sales and trading, says he sees August as a potential tipping point for oil prices if demand increases and the Iran war keeps Hormuz flows below pre-war levels, Reuters reports. Economies have been absorbing the supply shock by reducing demand, keeping prices around USD 100 / bbl, but that buffer will be tested if demand rises in August with no resolution to the crisis, he said.

IN CONTEXT- Recovery has a long tail: Global oil flows could take at least four months after the war ends to recover to 80% of pre-conflict levels, while a full return to normal Hormuz volumes may not come before 1Q or 2Q 2027, Adnoc CEO Sultan Al Jaber also stated.

It’s also planning another Hormuz bypass pipeline

Adnoc is also now planning on building a multi-fuel pipeline to hedge against future disruptions to shipping through the Strait of Hormuz, the Financial Times reports, citing comments Khoury made at a conference.

The plan: The pipeline will be able to export refined oil products, including gasoline, jet fuel, and diesel. Khoury didn’t specify a timeline or an exact location for the pipeline, but Adnoc has increasingly been looking to the UAE’s east coast to develop export alternatives to complement its existing Habshan-Fujairah pipeline.

More signs that the UAE is getting more serious about crypto

Abu Dhabi Commercial Bank (ADCB) fully integrated its banking infrastructure with Binance, allowing UAE users to move between AED and crypto directly with zero deposit fees, according to a statement. The tie-up removes the foreign exchange conversions and third-party intermediaries that have historically made fiat-to-crypto friction a barrier for mainstream users.

The Binance side of the agreement is also going live separately: Binance Dubai is rolling out direct AED deposits and withdrawals platform-wide, sweetening adoption with USDT voucher incentives.

IN CONTEXT- Binance is not the first exchange to offer AED on/off-ramping — BitOasis has supported it for years, Crypto.com added it in April 2025, and Bybit launched it in February 2026. What's different here is the counterparty: ADCB is one of the UAE's largest retail banks, and a direct integration at the banking infrastructure level — rather than a third-party payment rail — signals something beyond a feature launch. It suggests incumbent UAE banks are now willing to treat crypto exchanges as peer financial infrastructure, not just a niche customer segment to accommodate at arm's length.

Barakah repairs are underway

Checking in on Barakah: Fully repairing the Barakah Nuclear Power Plant will take a “matter of weeks,” International Atomic Energy Agency chief Rafael Grossi told Reuters yesterday, adding that the repairs have already kicked off. The nuclear energy watchdog has offered the UAE technical support in fixing the damage, which requires physical repair and maintenance to an external power line.

A recap: The site was targeted last month when drones — identified as coming from Iraqi territory — struck the facility and triggered a fire. Power was fully restored at the plant days after.

PSA

British Airways pushed back the return of its flights to Dubai — again — to the end of October, according to its website. It was initially set to resume flights to Dubai, Doha, Abu Dhabi, Amman, Bahrain, Tel Aviv, Jeddah, and Riyadh at the start of August. The airline noted that the “continuing situation in the Middle East remains worrying for many of our customers” and that its flights continue to be suspended amid ongoing uncertainty and airspace restrictions.

The big story abroad

No single story is dominating the global front pages this morning — but among the stories making headlines:

#1- SpaceX will reportedly raise USD 75 bn in its highly-anticipated IPO, selling 555.6 mn shares at USD 135 a pop, unnamed sources told Reuters. These figures put the firm’s valuation at USD 1.75 tn.

#2- Microsoft launched its own AI offerings at its Build conference to compete with proprietary models, including coding assistants and reasoning models, which would lower costs and reliance on OpenAI products. The tech giant also unveiled Project Solara, a family of prototype devices designed to host AI agents that carry out complex tasks autonomously.

#3- Investors seem bullish and unafraid: Concerns over inflation and elevated asset prices are trumped by optimistic sentiments, as financial markets currently exhibit “more greed than there is fear,” Goldman Sachs CEO David Solomon said. He added that so long as investors remain bullish, there is ample liquidity to absorb massive upcoming IPOs from companies like SpaceX, Anthropic, and OpenAI.

#4- The UN General Assembly has elected its next head. Bangladeshi Foreign Minister Khalilur Rahman narrowly defeated Cyprus’ Andreas Kakouris to secure the presidency of the UN General Assembly.

***

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Relief coming for Abu Dhabi tenants

Abu Dhabi has put a blanket freeze on rent increases across all residential, commercial, and industrial properties — locking both renewals and new leases on previously occupied units at existing prices until further notice, the Abu Dhabi Real Estate Centre (ADREC) said yesterday in a post on X.

The move marks a significant departure from the emirates’ baseline framework, which allows landlords to raise rents by up to 5% annually if tenants are notified at least two months before renewal, Khaleej Times reports.

AND- New tenancies were exempt. The 5% cap only applied to renewals — when a unit was vacated and re-let to a new tenant, landlords could set the rent at whatever the market would bear. That loophole is why rents on new contracts had been racing far ahead of what sitting tenants pay, and why headline figures like 15-20% annual increases were possible in a market nominally protected by a 5% rule.

This freeze closes that gap. Under the new measure, any new tenancy contract on a previously rented unit must also be offered at the same price as the preceding contract — effectively extending the 0% increase rule to incoming tenants as well as renewals. For the first time, Abu Dhabi landlords cannot use vacancy as a mechanism to reset to market rates.

The move lands as the UAE property market navigates a sharply more cautious climate. The US-Iran war has somewhat slowed down activity in the property market over the past few months, with analysts telling us many investors and buyers are “pausing” to take stock — though not completely dismissing the market, given strong fundamentals and demand.

Before that, Abu Dhabi landlords were enjoying double-digit rental growth for several quarters on end. Apartment rents were up 15% y-o-y in 1Q 2026, with some mid-end developments posting increases above 20%, while villa rents rose 6% annually, according to Colliers’ UAE real estate report (pdf). Office rents across prime business districts also climbed between 8% and 20% y-o-y as occupancy levels stayed above 95%.

Positive impact expected?

The move is “one of the most significant real estate regulatory interventions in recent years,” Andrew Laver, director of commercial valuation and head of Abu Dhabi at Cavendish Maxwell, tells EnterpriseAM. “The decision appears to reflect a broader, strategic response aimed at preserving long-term market stability,” he says, explaining that it’s unlikely it was triggered by a single event.

Given the strong growth in the emirate’s property market over the past two years, the freeze is likely a “proactive measure to stabilize momentum and reinforce the emirate’s economic resilience,” he explains. “By intervening at this stage, authorities are effectively ensuring that growth remains sustainable and does not undermine affordability or demand fundamentals.”

The timing is also meaningful: It introduces greater certainty for tenants at a time of heightened geopolitical and economic uncertainty, particularly as rent remains one of the highest costs for both households and businesses, he adds. While the freeze may temporarily limit landlords’ ability to grow income, he says it could also encourage stronger tenant retention and provide investors with clearer visibility on near-term cashflows and income profiles. “It reinforces confidence that the sector is being actively managed, with safeguards in place to protect both occupiers and investors,” he adds.

Long-term, the move will “enhance Abu Dhabi’s appeal as a long-term destination for residents, businesses, and capital,” he says.

We have a (recent) precedent

Neighboring Riyadh implemented a rent freeze on both new and existing contracts last year in a bid to provide stability in a market where apartment rents had been rising by 30-40% over the past 2-3 years.

At the time, Knight Frank’s Faisal Durrani said the rent freeze strengthens the market by shielding it from speculative “flippers”. High organic demand from a young population provides long-term investment prospects that outweigh short-term yield limitations, he said at the time.

Core42 expands US AI play

Core42 is doubling down on its AI play in the US, with the G42 sovereign cloud and generative AI subsidiary announcing plans to boost capacity by 42 MW at its AI infrastructure site in New York. The announcement didn’t disclose a timeline or an investment ticket for the expansion plan.

The firm will raise capacity to 60 MW, up from 18 MW, at its Lake Mariner site in Buffalo, New York, which acts as a hub for the rest of its US-based operations. The expansion will target “hyperscale, AI-native and large enterprise workloads,” Core42 CEO Talal Al Kaissi said.

So far, the subsidiary has been working with US semiconductor company AMD on the site. Additional infrastructure from AMD and US chipmaker Nvidia will now be added as part of the expansion.

IN CONTEXT- Core42’s parent firm G42 has been eyeing expansion across the pond for a while. Last year it said it has plans to invest USD tens of bns in the US, focusing on AI applications, cloud computing, and data centers. Later in the year it secured US export approval to receive Nvidia AI chips, in a sign of deepening UAE-US tech ties.

Core42 also recently secured USD 550 mn in financing for US and Europe expansion as part of a structured trade finance facility from HSBC. The financing is set to support AI compute and cloud deployments across the two geographies.

UAE-US AI ties: Cooperation between the UAE and the US on AI has been a key part of the bilateral relationship for some time now. The two countries announced plans for a 5 GW data center complex in Abu Dhabi last year as part of a wider USD 200 bn investment agreement. The UAE also joined the US-led tech supply chain initiative Pax Silica at the start of this year, with the framework looking to secure supply chains critical to the AI buildout.

AD Ports expands into Brazil

AD Ports expands into Brazil with USD 835 mn acquisition: AD Ports Group acquired Brazilian agri-bulk terminal operator Corredor Logistica e Infraestrutura (CLI) in a USD 835 mn (c.AED 3.1 bn) agreement, marking its entry into the Brazilian market, according to a disclosure (pdf).

Expected to close in 2H, the transaction will give AD Ports control of two major export gateways that handle a significant share of Brazil’s agricultural commodity exports. CLI fully owns CLI Norte at the Port of Itaqui, a key grain export gateway in the country’s growing Northern Arc logistics corridor. It also holds an 80% stake in CLI Sul at the Port of Santos, Brazil’s largest sugar export terminal, which also handles corn and soybean volumes.

Location, location, location: Spanning northern Brazil and the Amazon basin, the region has emerged as one of the country’s fastest-growing export corridors as agricultural producers increasingly seek shorter, more efficient routes to international markets.

A change in presence across the region: While the group already has logistics operations across Latin America through its Noatum subsidiary, including activities in Argentina, Chile, Colombia, Mexico, and Peru, the acquisition of CLI gives it ownership of strategic port infrastructure in Brazil for the first time.

Why this matters: AD Ports is gaining a larger role in global commodities trade, buying a foothold in one of the world’s most important agricultural export markets. Brazil is the world’s largest sugar exporter and a major supplier of corn, soybeans, and grains. It extends the strategy of building an end-to-end logistics network.

Not the first Emirati foot to land in Brazil: DP World deepened its presence at the Port of Santos through a long-term agreement with Maersk in March last year, and announced plans to expand capacity at its Brazilian terminal to 2.1 mn TEUs by the end of 2027, up from 1.4 mn TEUs. The port operator is also partnering with railway operator Rumo to develop a new grain and fertilizer terminal — showing interest in Brazil’s role as a commodities export powerhouse.

BlueFive makes another bumper investment, this time in an autonomous delivery startup led by former Talabat CEO

UAE-based autonomous delivery startup CargoX has raised USD 250 mn fresh out of stealth from an investor group led by Abu Dhabi’s BlueFive Capital, according to a press release. The startup has already piloted its driverless delivery vehicles — spanning last-mile, middle-mile, and long-haul logistics routes — on public roads in the UAE. It is now preparing for commercialization in Dubai and Abu Dhabi and engaging with regulators including Dubai’s Roads and Transport Authority and Abu Dhabi Mobility.

The funding will go toward expanding CargoX’s logistics network inside and outside the UAE, alongside investing in vehicle technology, operations infrastructure, and partnerships.

Based on the tagline “bringing autonomous to the world,” CargoX looks set on taking the platform global, though it’s not yet clear which markets beyond the UAE it will prioritize first. EnterpriseAM was unable to reach the firm and BlueFive ahead of dispatch time.

Who’s at the helm? None other than former Talabat CEO Tomaso Rodriguez (LinkedIn), who spent six years leading the delivery service platform and later steering the company through its USD 2 bn IPO in 2024.

This is BlueFive’s second big mobility play in as many months. Last month it agreed to buy a 49% stake in fleet-management company Massar Solutions from Taqa, saying at the time that the acquisition is part of a wider strategy to build a regional mobility platform that integrates leasing and transport services under a single ecosystem. BlueFive was also the largest investor in a consortium that acquired Porsche’s stake in Bugatti earlier this year.

What to watch: CargoX says it has already lined up anchor relationships with e-commerce, retail, and logistics operators as it prepares to scale, without disclosing who the partners are. We’ll be keeping an eye out for updates on its regulatory status, partnerships, and commercialization.

New infrastructure lead at Mubadala

Mubadala tapped Richard Nordell (LinkedIn) as head of its infrastructure unit, taking over from Saed Arar (LinkedIn). Nordell has been working with the sovereign wealth fund for over 12 years, most recently serving as head of real estate investments.

IN CONTEXT- Infrastructure has been a major priority for Mubadala recently. Last month, the sovereign fund backed Bermuda-based Textainer’s acquisition of shipping container firm Seaco, adding to its growing transport and logistics infrastructure portfolio. It has also been ramping up acquisitions across energy infrastructure assets.

Adia backs another India IPO, Amman Stock Exchange joins Tabadul, a new ins. firm comes to DIFC

Abu Dhabi’s sovereign fund continues its India industrial wager

The Abu Dhabi Investment Authority (Adia) participated in yet another Indian IPO, receiving around 7.2% (equivalent to 236k shares) of Rajasthan-based precision equipment manufacturer KRN Heat Exchanger ’s qualified institutional placement, as per an exchange filing (pdf).

About the offering: The firm raised a total of INR 3.5 bn (USD 36.8 mn) from the offering, drawing participation from WhiteOak Capital and Bank of India Mutual Fund. The company allotted 3.3 mn shares at INR 1k apiece, nearly 5x its IPO price of INR 220 in October 2024.

Why KRN? The firm manufactures fin-and-tube heat exchangers used in ACs, refrigeration, and industrial cooling systems — positioning it to benefit from rising demand for cooling equipment linked to data centers, manufacturing expansion, and climate-control infrastructure.

It fits within Adia’s push into the infrastructure layer underpinning the global AI buildout. The fund previously invested USD 500 mn in AlphaGen, a US power infrastructure portfolio of over 11 GW specifically structured to support data centers, and took a stake in Landmark Dividend, a digital infrastructure real estate company with data centers across major US markets.

Amman Stock Exchange is now on Tabadul

Jordan’s Amman Stock Exchange (ASE) is now linked to the ADX via its cross-market trading platform, Tabadul, according to a statement. The move allows investors to access and directly trade on both bourses through Tabadul, and streamlines settlement and custody across jurisdictions, paving the way for dual listings. The stock exchanges agreed to establish the electronic link back in 2024.

ASE is one of seven exchanges on Tabadul, alongside the Armenia Securities Exchange, Bahrain Bourse, Muscat Securities Market, Astana International Exchange, Kazakhstan Stock Exchange, and the ADX. The ADX had been planning to add two more last year.

Dubai’s ins. hub keeps getting bigger

Allied World Assurance Co. opened a new office in DIFC, according to a press release. The global ins. and reins. group said the Dubai base will allow it to work more directly with brokers and clients across the Middle East.

DATA POINT- DIFC said more than 135 ins.-related firms now operate from the center across underwriting, broking, reins., captives, and specialist risk-transfer activities.

Muted AI exposure and war spell trouble for Indian equities as AI shakeout puts other EMs ahead

Foreign investment in Indian equities hit its lowest level in nearly ten years, with Bloomberg reporting that overseas holdings dipped to INR 7.3 tn at the start of June. The slide marks a sharp reversal for a market that spent years as one of the standout destinations in emerging markets, drawing investors in with its strong GDP growth, expanding middle class, and young demographic dividend. Two converging forces are now driving the retreat.

The US-Iran conflict has rattled global investor sentiment, but India is absorbing the shock more acutely than most. As the world's third-largest oil importer, India is directly exposed to the elevated oil prices triggered by the conflict. Higher energy costs feed quickly into inflation, widen the current account deficit, and put downward pressure on the INR, which has already fallen from around INR 90 to beyond INR 95 against the USD.

The resulting risk-off sentiment has accelerated foreign outflows that were already underway: India recorded USD 17 bn in outflows by late 2025 as US tariff pressures and weaker global sentiment began to bite, with overseas ownership of NSE-listed firms falling to under 17% — around a 15-year low.

The second headwind is structural and longer-term, but investors are pricing it in now. India's economic model has long relied on a large, skilled, English-speaking workforce to power its services and outsourcing sectors — but that is precisely the category of labour most exposed to automation in the current AI cycle. That could threaten a core pillar of India’s GDP, and — unlike Taiwan or South Korea — India has a limited presence in the semiconductor and AI infrastructure supply chains that stand to benefit most from the current technology wave.

Despite the foreign exodus, there’s still been activity. The IPO market closed 2025 with a record USD 22 bn raised across more than 200 approved listings. The caveat: 75% of allocations were absorbed by domestic institutions and retail investors.

Who's picking up India's slack? The capital rotating out of India is, in part, finding a home in markets better positioned for the AI era. Taiwan and South Korea both have deep semiconductor and AI infrastructure exposure that India lacks. Taiwan has been climbing toward India's spot as the fifth-largest global equity market by capitalization — driven largely by TSMC, which climbed more than 25% in April alone. South Korea's Kospi has recently hit a record high.

MARKETS THIS MORNING-

Japan’s Nikkei hit record highs in early trading, echoing gains felt across Wall Street. The benchmark is up over 2% this morning with gains across automakers and tech stocks fueling the rally. The Shanghai Composite is looking at more modest gains, while the Hang Seng is in the red, down 1.2%.

ADX	9,621	-0.3% (YTD: -3.7%)
DFM	5,732	-0.7% (YTD: -5.2%)
Nasdaq Dubai UAE20	4,458	-0.6% (YTD: -8.8%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	3.5% o/n	4.2% 1 yr
TASI	11,016	+0.1% (YTD: +5.0%)
EGX30	52,927	+0.1% (YTD: +26.5%)
S&P 500	7,610	+0.1% (YTD: +11.2%)
FTSE 100	10,374	+0.3% (YTD: +4.5%)
Euro Stoxx 50	6,108	+1.2% (YTD: +5.4%)
Brent crude	USD 96.00	+1.1%
Natural gas (Nymex)	USD 3.17	+0.2%
Gold	USD 4,492	-0.6%
BTC	USD 67,302	-5.8% (YTD: -23.2%)
Chimera JP Morgan UAE Bond UCITS ETF	AED 3.69	+0.3% (YTD: -1.6%)
S&P MENA Bond & Sukuk	151.63	-0.4% (YTD: -0.2%)
VIX (Volatility Index)	15.77	-1.7% (YTD: +5.5%)

THE CLOSING BELL-

The ADX fell 0.3% yesterday on turnover of AED 1.1 bn. The index is down 3.7% YTD.

In the green: Al Buhaira National Ins. Company (+12.0%), Oman & Emirates Investment Holding Co (+9.8%), and Hayah Ins. Company (+5.3%).

In the red: Gulf Medical Projects Company (-5.0%), United Arab Bank (-5.0%), and Ins. House (-4.9%).

Over on the DFM, the index fell 0.7% on turnover of AED 709.2 mn. Meanwhile, Nasdaq Dubai was down 0.6%.

CALENDAR

JUNE

1-12 June (Monday-Friday): Subscription period for Emirates NBD’s mandatory open offer for 26% of India’s RBL Bank.

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

3-4 June (Wednesday-Thursday): MENA Desalination Forum, Conrad Abu Dhabi Etihad Towers, Abu Dhabi.

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

17 June (Wednesday): Investopia Global Talks, Tashkent, Uzbekistan.

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

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.

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

OCTOBER

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

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

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

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

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

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.

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

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

DECEMBER

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

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

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

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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THIS MORNING: Adnoc resumes naphtha exports via Oman + eyes a multi-fuel pipeline bypassing Hormuz

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