It might take a while before the oil starts flowing…

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Adnoc is making up for lost barrels + IRH inks USD 500 mn supply agreement with India

Good morning, lovely people. The mood is more cheery than it has been in weeks — oil price forecasts are cooling, analysts are increasingly forecasting an easing of supply, and markets are rebounding following the announcement of a US-Iran agreement.

The ADX and DFM both jumped by nearly 2% yesterday, their first day of trading after the long weekend and since news of the agreement broke. On the DFM, blue-chip developer Emaar Properties led gains with a 5.1% rise, and lender Emirates NBD gained 4.4%. Over on the ADX, First Abu Dhabi Bank rose 0.7% and real estate giant Aldar Properties rose 4.8%.

Both indices outperformed other regional markets, after having suffered the brunt of a sell-off earlier during the conflict.

Despite the cheery sentiment, the actual recovery of oil flows could take weeks, if not months, as we explain in this morning’s Big Story Today. Also in this morning’s issue: We’re seeing more debt market activity, this time courtesy of HEA Energy, and Mubadala just acquired a stake in a major subsea electricity interconnector project in the UK.

WEATHER- It’s warming up a bit more in Dubai today, with a high of 40°C and a low of 30°C, while Abu Dhabi will see a high of 39°C and a low of 29°C.

Sharjah sweetens the pot

Sharjah is rolling out a fresh package of business incentives. The Sharjah Executive Council approved a series of exemptions, fee deferrals, and other support measures aimed at boosting investment and economic activity across the emirate, state news agency Wam reports. Authorities have yet to disclose the size of the package or the specific incentives on offer.

What we do know: The measures target sectors including tourism, hospitality, industry, construction, infrastructure, transportation, and trade, and involve a broad range of government entities. The statement didn’t specify a reason for the incentives, but Dubai and Ajman also rolled out economic support measures for the private sector when the war was ongoing.

Making up for lost barrels

Adnoc appears to be making up for lost time. The company has sold at least 30 mn barrels of spot crude to Asian refiners and trading houses so far in June, Reuters reports, citing trade sources in the know. Adnoc has been looking to boost its exports during the ceasefire, with more barrels being offered this week. The sales include Das, Upper Zakum, and Umm Lulu crude for June-August loading.

Who’s buying? Indian refiners purchased some 6 mn barrels, while China’s Unipec reportedly bought 6-8 mn barrels of Upper Zakum crude. South Korea’s SK Energy took 7 mn barrels of Umm Lulu crude, while Japan’s Eneos bought 3 mn barrels of Das crude.

IN CONTEXT- The sales come after Adnoc spent much of the conflict finding workarounds for exports from fields inside the Gulf. The company moved cargoes through Hormuz with transponders switched off and relied on ship-to-ship transfers outside the Gulf to reach buyers. Adnoc had also cut exports by more than 1 mn bbl / d from pre-war levels as disruptions hit flows through the strait, Reuters reports separately.

Adnoc is also preparing for future disruptions: As we previously reported, the company is considering a multi-fuel pipeline capable of exporting gasoline, jet fuel, and diesel, complementing existing efforts to build export routes less dependent on the Strait of Hormuz.

IRH fuels up

A UAE-India energy tie-up is taking shape: Abu Dhabi-based natural resources investment platform International Resources Holding (IRH) signed a USD 500 mn crude sourcing and product supply agreement with Indian low-carbon fuel provider Essar Energy Transition Fuel, according to a statement. The agreement is intended to strengthen feedstock security amid an increasingly volatile energy market.

IN CONTEXT- Energy was one of the sectors earmarked for cooperation as part of a wider raft of agreements between the UAE and India at the start of the year. Securing reliable energy inflows has also been critical for India, which saw its oil import bill surge during the regional conflict. Earlier this month, the UAE unseated Saudi Arabia as India’s second-largest crude oil supplier, as the energy-importing nation looked to secure supplies in an increasingly tight market.

Data point

42% m-o-m — that’s how much the value of residential property transactions in Dubai fell in May, according to Reidin data cited by Bloomberg. Residential sales totaled AED 22.5 bn, roughly half the AED 46.6 bn recorded in February before the conflict began.

The slowdown is being felt most acutely across off-plan transactions, where transaction values fell nearly 50% from April. Yet prices have held up relatively well, with off-plan values down less than 9% this year and completed-home prices broadly unchanged.

REFRESHER- The figures add to signs of a slower market. Dubai residential capital values posted a second consecutive monthly decline in April, though the pace of the correction eased sharply from March's selloff.

The takeaway: Buyers are becoming more selective, not disappearing. Even after May’s decline, residential sales values remain broadly in line with levels seen three years ago, while sellers continue to resist meaningful price cuts. It broadly reinforces what analysts told us earlier this year: activity remains healthy by historical standards despite softer pricing, suggesting the market is cooling rather than correcting.

PSA

If your private healthcare facility has 50 or more employees, the Human Resources and Emiratization Ministry has a new requirement you’ll want to flag for your HR team. Half of your annual Emiratization target must now be allocated to specialized healthcare roles — not just any skilled positions in the building.

Existing requirements had meant that companies with 50 or more employees must increase Emiratization in skilled positions by 2% every year, with half of the target to be met during the first six months of the year and the other half by year-end. The new rule targets the composition of roles: they can’t all be random — rather, half of the target will need to be hired within specialized roles.

Compliance assessments will begin from January 2027, with financial contributions owed by facilities that miss the mark.

You're at the stage where the questions have shifted: who gets what, whether your estate survives you intact or gets tied up in courts, whether you exit on your terms or let timing decide for you.

Retirement isn't a finish line but a structure problem, and most people get it wrong. It's not because they ran out of money but because they never asked the right questions at the right time.

In the final issue of EnterpriseAM Money Matters, we cover the decisions that define how you exit: estate planning under Egyptian law, what to actually ask your lawyer before you step back, how to read a severance package, when phased retirement makes financial sense — and when cashing out your options is the smartest move you'll make this decade.

Tap or click here to subscribe to the Egypt edition and get it delivered to your inbox today at 12 PM UAE.

The big story abroad

The details of the US-Iran agreement are out, headlined by a USD 300 bn development fund designed to jumpstart investment into Iran. The private investment vehicle — aimed to incentivize both sides to work on a final deal — is already halfway committed, sources tell Reuters, and will focus on energy, logistics, manufacturing, and transport. Under the terms, the US will also release all frozen Iranian funds and assets and lift all sanctions.

The Hormuz outlook: Upon signing the framework agreement this Friday, the US will lift its naval blockade and — alongside Iran — ensure traffic through the Strait of Hormuz reach pre-war level within 30 days.

The Nuclear equation: While Tehran reiterated that it will never produce nuclear weapons, the fate of enriched material and other mutually agreed nuclear issues will be tackled in the final agreement.

What’s next? Once the initial framework is inked, the two sides will have 60 days to reach a final agreement. Bloomberg has the complete text of the 14-point draft agreement here.

And in business news: SpaceX extended its rally during yesterday’s session, dethroning Amazon to become the fifth most valuable company in the world. The company saw its valuation reach almost USD 3 tn during trading, before ending the session at USD 2.7 tn.

Eyes on the Fed: The US Federal Reserve concludes its first policy meeting under new Chair Kevin Warsh today. While markets expect the central bank to hold rates steady, Warsh’s debut post-meeting presser is what we’ll be watching closely for his first substantive comment on inflation and employment.

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When can we see oil flows actually resume through the Strait?

The US-Iran agreement to reopen Hormuz — likely on Friday, once the agreement is signed — is thawing the market, but it doesn’t mean flows will recover anytime soon. Prices of crude are already cooling, with Dubai and Murban curves flipping into contango — meaning futures prices are higher than spot prices, a signal that traders believe supply will return — for the first time since the war began, Bloomberg reports.

And already, analysts are slashing their forecasts for oil prices. Goldman Sachs cut its Brent crude forecast for 4Q to USD 80/bbl, down from USD 90, and trimmed its 2026 average outlook to USD 75/bbl from USD 80 — the bank’s second downward revision in a week. It also expects Gulf exports to normalize to pre-war levels by end-July, earlier than Goldman’s previous end-August forecast.

Adnoc CEO Sultan Al Jaber’s estimate for how quickly flows will recover was a lot more bearish. Al Jaber said earlier it could take at least four months after the war ends for global oil flows to recover to 80% of pre-conflict levels, while a full return to normal volumes through Hormuz may not come before 1Q or 2Q 2027.

There’s a long checklist ahead for oil producers and shipping agencies alike before flows resume through the strait — and a long queue of ships. Around 500 ships are waiting to exit the Gulf through Hormuz, which has gone from around 135 daily crossings to a trickle over the past several months.

The International Maritime Organization is still assessing whether vessels can safely transit, looking at clearing mines, managing congestion, and establishing an evacuation corridor for seafarers stuck inside the Gulf for more than 100 days.

Until that happens and until an agreement becomes “material,” shipowners will likely wait it out, Japan’s Mitsui OSK Lines CEO Jotaro Tamura — the world’s largest tanker operator by vessel count, with more than 900 ships — told the Financial Times.

The pre-movement checklist includes naval safety assessments, insurer guidance, and confirming the suspension of attacks, Antonella Teodoro, senior transport consultant at MDS Transmodal, tells EnterpriseAM. “Vessel scheduling adjustments and reductions in emergency surcharges would be early indicators of growing confidence,” she adds.

Mine-clearing might be the slowest item on that list — and it cannot be rushed. Mine-scouring using conventional minesweepers and underwater drones could take weeks — approximately 40-50 days — keeping shipowners cautious even after a political agreement is formally in place, Reuters reports.

A sudden return of capacity carries its own risks. Releasing the capacity that has been absorbed into longer voyages during the disruption back into the market creates a real risk of vessel bunching, port congestion, and pressure on hinterland logistics before networks can rebalance, Teodoro tells us.

Recovery ≠ rewind

Carriers will not simply reverse into their pre-war routes. “The recovery phase presents a window for carriers to reassess networks, vessel deployment, and capacity allocation rather than simply reverting to previous configurations,” Teodoro tells us. Shorter routes might be especially prioritized at the beginning — cutting voyage times and lifting vessel productivity before longer-haul reconfiguration happens, she adds.

Premiums could start falling within days of a stable security environment, but don’t expect everything to normalize at once. Carrier surcharges will adjust over subsequent sailing cycles; costs tied to schedule recovery and equipment repositioning will take longer, Teodoro notes.

But it could get worse before it gets better: If too much capacity returns quickly, there could be a rate risk, she explains. Freight rates have already been elevated: The Platts VLCC benchmark stood at USD 278.7k per day by the end of May, more than double the USD 75.9k per day average since the index launched in March 2024.

What shipping agencies and port operators will need to do is coordinate a managed trickle back into the market, not a flood — whether by adjusting service frequencies, rationalizing port calls, or potentially keeping some of the network changes introduced during the disruption.

Tankers are likely to move first; container lines last. Energy trades are concentrated around the region and benefit directly from shorter transits — so tankers have the clearest commercial incentive to return quickly. Container lines face a more complex calculation: any routing change ripples through global service networks and schedule reliability across multiple trades, Teodoro says.

For UAE port operators and oil producers, the calculus has already shifted. Adnoc, DP World, and AD Ports have been moving deliberately to reduce their dependence on the strait as a single chokepoint. Adnoc is looking to accelerate plans to develop its West-East pipeline bypassing Hormuz to double its export capacity outside of the strait, and is looking at doing the same for its petrochemicals arm, with plans to build an alternative export hub for petrochemical shipments on the East Coast.

HEA taps debt markets

Another borrower has just tested the debt-market waters: Abu Dhabi-based offshore marine logistics company HEA Energy raised USD 550 mn through a three-year senior secured bond carrying an 8.75% coupon, Zawya reports. The issuance was priced at 99.33% of its face value and has a borrowing limit of up to USD 650 mn.

Where’s the money going? Proceeds will be used to refinance existing debt, fund newbuild capex, and support general corporate purposes.

HEA Energy? Founded in 2022, the company operates in offshore marine logistics, specializing in jack-up barges, accommodation vessels, and battery-powered subsea vessels. The bond is backed by a fleet of offshore support assets, including 16 operating vessels and 13 newbuilds.

ADVISORS- DNB Carnegie, Fearnley Securities, and Pareto Securities acted as global coordinators and joint bookrunners on the transaction.

The bigger picture: The issuance adds to signs that Gulf debt markets are reopening after a war-induced slowdown. Gulf sovereigns and corporates raised some USD 11.2 bn in May alone, Bank Nizwa’s Muhammad Ahsan previously told us, while June has already seen borrowers return to market, including Dubai Islamic Bank’s USD 1 bn AT1 sukuk.

What’s next? HEA Energy plans to secure ratings from at least two among Moody’s, S&P, and Fitch within 12 months. The bonds are also expected to be listed on Euronext ABM.

Mubadala plugs another USD 200 mn into Europe’s energy grid

Abu Dhabi sovereign investor Mubadala acquired a USD 200 mn stake in Greenlink, the subsea electricity interconnector linking Ireland and Great Britain, purchasing part of Equitix’s holding in the project it owns alongside Baltic Cable, state news agency Wam reports. The exact size of the purchased stake and Equitix’s post-acquisition holding in the project were not disclosed.

The asset: The investment sees Mubadala gain exposure to a 504 MW high-voltage power link running roughly 190 km beneath the Irish Sea, connecting two electricity markets that had previously operated in near isolation. Power can now flow in either direction, helping balance supply and demand on both sides — particularly useful as both grids absorb more intermittent renewable generation.

Why it matters: Greenlink is an infrastructure project that’s heavily regulated, sitting under dual regulatory oversight: Ofgem in the UK and Ireland’s Commission for Regulation of Utilities. This usually ensures long-duration, predictable revenue streams. The asset sits comfortably within Mubadala’s strategic tilt toward European energy transition assets.

In context

Greenlink is the third UK energy asset Mubadala has moved on in under three years. We covered the fund’s USD 325 mn wager on Ørsted's Hornsea 3 offshore wind farm last month. At the time, we also flagged Zenobe (UK battery storage), Rezolv (Central and Eastern Europe renewables), and Skyborn (offshore wind) as part of the same push.

The new geography of power: why financial plumbing is the modern port

Measures of national power have shifted. Today, a largely invisible infrastructure has emerged as a defining lever of sovereignty: financial plumbing. For central banks and policymakers, payment rails, settlement systems, and fraud defenses are no longer back-office utilities, but strategic national assets. Just as a blocked shipping lane can paralyze physical trade, a fractured financial rail can isolate a nation, erode trust, and stall capital flows. Economic power is defined by the speed, security, and integrity of capital movement.

These systems also determine how economies withstand disruption. While market volatility captures the headlines, resilience is built within this layer. Financial institutions are evolving beyond traditional banking functions to reinforce international liquidity and systemic stability.

One example is the development of high-capacity digital corridors across Asia, the Middle East, and Africa. Mashreq is strengthening cross-border liquidity through technology-enabled settlement systems and advanced fraud defenses, helping emerging economies connect local ambition with global capital. Its USD 100 mn commitment to Pakistan’s digital banking sector, including the launch of a full-service digital retail bank and the establishment of a Global Capability Center, supports national digital infrastructure and financial inclusion.

These capabilities underpin trade, remittances, and investment. When settlement systems are instant, fraud defenses predictive, liquidity expands across South Asia and Africa, as seen in Mashreq’s 2024 trade finance partnership with British International Investment (BII). This strengthens institutional trust and attracts long-term capital. Mashreq’s role is to enable these capital flows across emerging markets.

The difference now lies in how capital moves. The most influential economies treat financial rails with the same strategic priority as ports, grids, and telecom networks. Execution, not access, is what separates them. Sovereignty resides not only in territory, but in the secure, seamless movement of capital. These systems may be invisible, but they determine which economies remain connected, competitive, and trusted.

Joel Van Dusen, Group Head of Corporate & Investment Banking

Adnoc taps commodities veteran for trading lead

Adnoc hired commodities veteran Benoit Roulon (LinkedIn) to lead its trading arm, Bloomberg reports, citing people it says are familiar with the matter. Roulon joins from Squarepoint Capital, where he had been building out a physical oil business since the start of this year, the business news information service says.

Why it matters: This is the latest move in a strategic pivot for Adnoc Global Trading — the JV with Italy’s Eni and Austria’s OMV — which has been building its international footprint since 2018, when Adnoc was still primarily a producer content to sell barrels at the wellhead. CEO Ahmed bin Thalith said in May the unit aims to lift handled volumes by nearly two-thirds over the next few years.

Oak Hills Advisors to set up shop in DIFC

Another major investor plants its flag in DIFC: US-headquartered alternative investment firm Oak Hill Advisors (OHA) received regulatory approval from the Dubai Financial Services Authority to set up an office in the Dubai International Financial Center (DIFC), according to a press release.

OHA? The firm manages a broad range of credit strategies spanning private credit, leveraged loans, high-yield bonds, distressed debt, collateralized loan obligations, and multi-strategy credit investments. At the end of 1Q, its AUM stood at USD 112 bn.

Edge, Safran partner on missile development

State defense firm Edge Group is doubling down on its cooperation with French firms, inking a new agreement with aerospace and defense group Safran to set up two JVs for weapon development, Edge said in a statement. The joint ventures — one to be based in the UAE and the other in France — will focus on precision-guided and air-to-ground weapons and launch systems for unmanned aerial systems.

ICYMI- Edge has recently established its European HQ in Paris, and France was also reportedly looking to the UAE for help with the next iteration of its Rafale fighter jet. More broadly, the UAE is currently pushing to localize more of its defense stack while also upping its exposure to assets abroad to strengthen its defense supply chain.

It’s a good time to be a biotech

Biotech firms are sitting on a rare double exit window — IPO markets and major pharma acquirers are both competing for the same assets, JPMorgan EMEA healthcare investment banking co-heads Juha Anjala and Roy Wouters told CNBC.

By the numbers: Biotech dealmaking has already hit USD 106 bn from 21 transactions this year, CNBC reports elsewhere, after 2025 saw seven transactions each worth USD 5-15 bn. That puts it on track for its strongest year since its pre-pandemic peak seven years ago.

Why the frenzy: Pharma firms are racing against a patent cliff — when a blockbuster drug's exclusivity expires, generics flood the market and revenues can collapse by 80-90% almost overnight. A wave of those expirations is coming simultaneously, with analysts estimating a sector-wide revenue hit of up to USD 350 bn by 2032. Buying proven biotech assets is the fastest way to replace that pipeline — around half of the best-performing drugs in recent years were acquired rather than developed in-house, with the most competition clustering around metabolic conditions, infectious diseases, and oncology.

The result: The strongest performers are keeping both options open simultaneously — prepping for an IPO while fielding acquisition conversations. Some are choosing the takeover route outright.

GCC sovereign wealth is also circling. Abu Dhabi’s Mubadala has been expanding its presence in the biotech sector through its pharma unit arm Mubadala Bio with investments in the US’ ElectraTherapeutics and nutri-tech firm L-Nutra, while the Abu Dhabi Investment Authority has been similarly active. Qatar has a sizable biotech investment footprint, with a USD 250 mn play into BridgeBio Pharma and USD 255 mn for Isotope Technologies Munich.

MARKETS THIS MORNING-

Asia-Pacific markets are mixed in early trading this morning as the rally sparked by the US-Iran framework agreement cools and investors sit tight ahead of today’s Federal Reserve policy decision. Japan’s Nikkei is up 0.7%, while South Korea’s Kospi is down 0.1%. Over on Wall Street, equities are set to open higher, with futures in the green.

ADX	9,936	+1.6% (YTD: -0.3%)
DFM	6,055	+1.7% (YTD: +0.1%)
Nasdaq Dubai UAE20	4,778	+2.6% (YTD: -2.3%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	3.6% o/n	4.0% 1 yr
TASI	11,146	+0.5% (YTD: +6.2%)
EGX30	52,047	-0.5% (YTD: +24.4%)
S&P 500	7,511	-0.6% (YTD: +9.7%)
FTSE 100	10,494	+0.6% (YTD: +5.7%)
Euro Stoxx 50	6,257	+0.5% (YTD: +8.0%)
Brent crude	USD 79.48	-4.4%
Natural gas (Nymex)	USD 3.24	+2.9%
Gold	USD 4,354	+0.1%
BTC	USD 65,713	-1.0% (YTD: -25.0%)
Chimera JP Morgan UAE Bond UCITS ETF	AED 3.69	-0.3% (YTD: -1.6%)
S&P MENA Bond & Sukuk	152.49	+0.3% (YTD: +0.4%)
VIX (Volatility Index)	16.22	+0.1% (YTD: +8.4%)

THE CLOSING BELL-

The ADX rose 1.6% yesterday on turnover of AED 2.4 bn. The index is down 0.3% YTD.

In the green: Al Dhafra Ins. Co. (+14.9%), Abu Dhabi National Energy Company (+13.3%), and Ins. House (+11.6%).

In the red: Fertiglobe (-5.0%), Fujairah Cement Industries (-4.9%), and Hayah Ins. Company (-4.8%).

Over on the DFM, the index rose 1.7% on turnover of AED 1.8 bn. Meanwhile, Nasdaq Dubai was up 2.6%.

CALENDAR

JUNE

16-17 June (Tuesday-Wednesday): Federal Open Market Committee (FOMC) meeting.

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

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

JULY

28-29 July (Tuesday-Wednesday): Federal Open Market Committee (FOMC) meeting.

SEPTEMBER

1-3 September (Tuesday-Thursday: Middle East Energy, Dubai World Trade Center, Dubai.

7-9 September (Monday-Wednesday): AIM Congress, Dubai World Trade Center.

7-9 September (Monday-Wednesday): International Property Show, Dubai World Trade Center, Dubai.

12-13 September (Saturday-Sunday): Emirates International Congress on AI & Visionary Leadership in Transforming Healthcare, Adnec Center Abu Dhabi.

14-17 September (Monday-Thursday): Arabian Travel Market, Dubai World Trade Center, Dubai.

15-16 September (Tuesday-Wednesday): Federal Open Market Committee (FOMC) meeting.

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.

27-28 October (Tuesday-Wednesday): Federal Open Market Committee (FOMC) meeting.

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

Signposted to happen sometime in October 2026:

Abu Dhabi Space Week, Abu Dhabi.

NOVEMBER

2-6 November (Monday-Friday): Dubai Future Finance Week, Dubai.

4 November (Wednesday): Digital Transformation Summit, Sofitel, Abu Dhabi.

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

9-12 November (Monday-Thursday): EMEA Council on Hotel, Restaurant and Institutional Education Conference, Dubai College of Tourism, Dubai.

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

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

DECEMBER

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

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

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

8-9 December (Tuesday-Wednesday): Federal Open Market Committee (FOMC) meeting.

8-10 December (Tuesday-Thursday): Abu Dhabi Water & Power Week, Adnec Center, Abu Dhabi.

Signposted to happen sometime in 2027:

1 January: Deadline for large businesses to implement e-invoicing;
1Q 2027: Completion of the first phase of Hassyan seawater desalination project;
1-3 February (Monday-Wednesday): World Governments Summit;
31 March: Small businesses with annual revenues of less than AED 50 mn are obliged to contract with an accredited service provider for e-invoicing implementation;
31 March: Government entities are required to appoint an accredited service provider for e-invoicing implementation;
21-22 April (Wednesday-Thursday): Token2049, Dubai;
1 July: Deadline for small businesses to implement e-invoicing;
1 October: Deadline for governments to implement e-invoicing;
Abu Dhabi’s solar and battery energy facility, combining 5.2 GW of solar capacity and 19 GWh of battery storage, is set for commissioning.

Signposted to happen sometime in 2028:

Artificial Intelligence Summit.

Signposted to happen sometime in 2029:

Sibos 2029 organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), Dubai;
Annual Meetings of the World Bank Group and the International Monetary Fund, Abu Dhabi;
The commissioning of the seventh phase of Mohammed bin Rashid Al Maktoum Solar Park.

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