Adnoc closes its acquisition of a 24.9% stake in OMV as Borealis-Borouge merger talks continue

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WHAT WE’RE TRACKING TODAY

THIS MORNING: UK-GCC free trade agreement could help trade grow 16%

Good morning, friends. It’s a reasonably calm Friday as far as the domestic news cycle goes, meaning we’re sending you off into the weekend with a tight issue this morning.

WTO MINISTERIAL-

The potential freetrade agreement between the UK and the GCC could “grow trade by around 16%,” UK Trade Policy Secretary Greg Hands told Sky News Arabia on the sidelines of the World Trade Organization’s ministerial conference in Abu Dhabi yesterday (watch, runtime 10:42). Progress on the agreement is “extremely strong,” Hands said, stressing the importance of the pact for both the GCC and the UK as important trade partners. The freetrade agreement has been under discussion since June 2022, with the last round of negotiations in Riyadh last November.

UAE contributed AED 1 mn to facilitate LDC participation: The government committed AED 1 mn to the least-developed countries (LDCs) Trust Fund to cover the travel expenses and accommodation of LDCs’ delegations to ensure their participation in the WTO ministerial conference (MC13), Wam reports.

PUBLIC SERVICE ANNOUNCEMENTS-

#1- We’re paying more at the pump this month: The Fuel Pricing Committee decided to raise retail fuel prices for March after three consecutive months of price cuts, the Emirates General Petroleum Company said in a post on X yesterday. The rundown:

Super 98 is now AED 3.03 per liter, up 5.2%;
Special 95 is now AED 2.92 per liter, up 7.2%;
E-Plus 91 is now AED 2.85 per liter, up 5.9%; and
Diesel is now AED 3.16 per liter, up 5.7%.

REMEMBER- Fuel prices in the UAE mirror global oil markets. We liberalized fuel prices in 2015, and are now tracking monthly market movements when determining fuel prices for the month.

#2- Public school registrations for the 2024-2025 academic year will open from this coming Monday, 4 March and will remain open until Friday, 15 March, welcoming newcomers, transfers from private schools, and students from outside the country according to an Emirates Schools Establishment announcement cited by Al Khaleej.

INVESTMENT UPDATE-

ADQ begins paying for development rights in Egypt’s Ras El Hekma: Abu Dhabi wealth fund ADQ deposited with the Central Bank of Egypt the first USD 5 bn tranche of its USD 35 bn investment in Egypt’s Ras El Hekma, Egyptian Prime Minister Moustafa Madbouly said in a statement yesterday. ADQ is set to transfer another USD 5 bn later today, Madbouly confirmed.

REMEMBER- ADQ is paying USD 24 bn for the development rights to Ras El Hekma and will convert some USD 11 bn worth of UAE deposits at the Central Bank of Egypt into money that it will “invest … in real estate and other prime projects,” the fund said in its press release.

DATA POINT-

#1- Passenger traffic at Dubai International Airport (DXB) is expected to surpass 90 mn by the end of 2024, Dubai Airports CEO Paul Griffiths told CNBC yesterday (watch, runtime: 2:32). DXB passenger traffic hit 87 mn in 2023, up 31.7% y-o-y and marking a recovery to pre-pandemic levels, according to figures released last month.

#2- The Middle East’s luxury yacht market is projected to grow by over 50% by 2028, Shamal Holding’s Commercial Operations VP Sudhin Siva told CNN Business Arabic, noting that the maritime industry contributes some AED 129 bn to the Emirates’ GDP. The industry’s contribution to the economy grew 18% y-o-y in 2022, Energy and Infrastructure Minister Suhail Al Mazrouei said in October.

HAPPENING TODAY-

#1-GovGames 2024 is underwayand will run through this Sunday, 3 March. The event features physical challenges across various categories, with some 194 teams from around the world set to join.

#2- The MENA Transport Congress and Exhibition 2024 concludes today at the Dubai World Trade Center.

#3- The Dubai International Boat Show is also underway at Dubai Harbor, running until Sunday, 3 March. The event will showcase over 1k brands and over 200 boats from renowned shipyards like Azimut, Sunseeker Gulf, and Gulf Craft, and serves as a crucial sales and networking platform for both local manufacturers and global distributors.

#4- It’s semi-finals day for the men’s singles at the Dubai Dutyfree Championship. Daniil Medvedev is facing off against Ugo Humbert at 5pm today, after Medvedev beat Alejandro Davidovich Fokina in the quarter-finals yesterday. Meanwhile, Andrey Rublev — who edged out Sebastian Korda yesterday — and Alexander Bublik play at 3pm today.

#5- The Abu Dhabi Family Office Summit will take place today in Saadiyat Rotana. The summit includes interactive panels geared at helping family businesses attract investment and set up offices in the UAE.

#7- Art Dubai opens its doors today and will run until Sunday, 3 March. The international art fair will be showcasing over 120 contemporary presentations from 60 cities at Dubai’s Madinat Jumeirah.

HAPPENING NEXT WEEK-

#1- The UAE will host the MRO Middle East next Tuesday and Wednesday, 5-6 March in Dubai. The two-day event will bring together key decision-makers from airlines, MROs, OEMs, lessors, and suppliers spanning all aspects of aviation supply chain.

#2- The World Police Summit will begin next Tuesday, 5 March and run until Thursday, 7 March, at the Dubai World Trade Center. The event will welcome over 20k global law enforcement and security industry professionals to explore solutions to mitigate crime.

#3- Forbes will return to Abu Dhabi next Tuesday, 5 March, for its annual 30/50Summit, scheduled to run until Friday, 8 March. Meg Ryan, Suze Orman, and Sheila Johnson will headline the event spotlighting the Forbes Under 30 and 50 Over 50 lists, coinciding with International Women’s Day, Forbes previously reported.

#4- The Dubai Entertainment Amusement & Leisure Exhibition opens its doors next Tuesday, 5 March, in Dubai.The three-day trade show will welcome global exhibitors in entertainment and amusement, before wrapping on Thursday, 7 March.

HAPPENING THIS WEEK-

#1-Abu Dhabi’s Department of Culture and Tourism’s Souq Al Wahat will host an African parade on Saturday and Sunday, 2-3 March, reports the Abu Dhabi Media Office. Souq Al Wahat will open its doors again the following weekend (until Sunday, 10 March) with its final weekend dedicated to American culture, hot dogs, and country dancing.

#2- The World Skate Tour will kick off its Middle Eastern leg on Sunday, 3 March, according to the Dubai Media Office. The Middle East’s debut pro skating event will return to Dubai Harbor next week, with over 500 skaters from 65 countries competing in back-to-back rounds until Sunday, 10 March, with finalists qualifying for the Summer Olympic Games. Tickets for the tour’s two-week stop in Dubai can be purchased through Virgin Radio, for more information and the full schedule, check out the Adara website.

Adnoc acquires 24.9% stake in Austrian OMV

Mubadala offloads OMV stake to Adnoc: The Abu Dhabi National Oil Company (Adnoc) closed its acquisition of a 24.9% minority stake in Austria-based integrated oil and gas company OMV that was previously held by Abu Dhabi sovereign wealth fund Mubadala, Adnoc said in a statement yesterday. The statement did not disclose the financial value of the transaction.

Who will own what? Adnoc now holds 24.9% of OMV, while Austrian state-owned holding company Österreichische Beteiligungs AG retains a 31.5% stake. The remaining 56.4% shares will continue to be traded in freefloat on the Vienna Stock Exchange.

What’s next? Adnoc is set to nominate two representatives to hold seats on OMV’s supervisory board.

A double gain for Adnoc: The new acquisition will see Adnoc increase its stake in both Borealis and Borouge, “further bolstering its footprint in the chemicals sector, enabling synergies and unlocking significant growth opportunities across its broader chemicals portfolio, in particular at Borouge,” according to the statement.

What they said: “Building on our 25% shareholding in Borealis, this transaction marks the next transformative step as we accelerate our ambitious chemicals growth strategy, unlocking significant growth and value creation opportunities for Adnoc, OMV and their respective shareholders,” Adnoc’s Downstream Industry, Marketing and Trading executive director Khaled Salmeen said.

The move comes after months of on and off negotiations between the two companies on a merger of Borouge and Borealis, worth an estimated USD 30 bn. The latest round of negotiations was reportedly stalled to “navigate a series of disagreements,” ranging from the name of the potential merged entity to “the more serious.” The merger, which was first announced in July, was expected to give both companies an equal controlling stake.

The merger is still on the table: “Adnoc and OMV also continue to be engaged in open-ended negotiations about the potential creation of a new combined petrochemicals holding entity, through the proposed merger of their respective existing shareholdings in Borouge and Borealis,” Adnoc said.

KSA’s Acwa secures USD 738 mn to finance Dubai’s Hassyan desalination plant

USD 738 mn for Dubai desalination plant: Saudi Arabia’s renewable energy giant Acwa Power has secured SAR 2.77 bn in funding for its SAR 3.45 bn (USD 914 mn) solar-powered Hassyan water desalination project in Dubai, the company said in a Tadawul disclosure. The financing period will last 32.5 years and will fund the development and construction of the plant.

Local and international lenders are financing the project: The lending consortium includes Standard Chartered, MUFG Bank, Emirates NBD, Korea Development Bank, the Commercial Bank of Dubai, Abu Dhabi Commercial Bank, China Construction Bank, Agricultural Bank of China, Arab Petroleum Investments Corporation, Sumitomo Mitsui Trust Bank, Industrial and Commercial Bank Of China Limited, Boubyan Bank, and export credit agency Saudi EXIM.

The facility, set to be one of the largest solar-powered seawater reverse osmosis plants, will begin commissioning of its first phase in 2026. The project is Dewa’s first to be carried out under an Independent Water Producer (IWP) model, and is part of its efforts to increase its water desalination capacity to 730 mn imperial gallons per day by 2030, up from the current 490. Once completed, Dewa will have an output of 670 mn imperial gallons per day. The facility has a capacity of 681.4k cbm per day.

REFRESHER: The Dubai Electricity and Water Authority (Dewa) tapped Acwa Power to construct and operate the project back in August 2023, and signed a 30-year water purchase agreement with Acwa Power to buy water from phase 1 of the desalination plant last year.

Emaar ups its portfolio with AED 96 bn neighborhood developments

Emaar Properties is planning to launch two luxury developments in Dubai with a combined development value of AED 96 bn, according to a statement. The neighborhoods — The Heights Country Club and The Grand Club Resort — will house high-end villas and townhouses in the city.

The details: The AED 55 bn Heights Country Club will cover 81 mn sqft in Dubai, while the AED 41 bn Grand Club Resort spans 60 mn sq ft adjacent to Emaar’s Oasis estate. Emaar did not disclose a timeline for their expected handovers.

Remember: Activity levels in Dubai’s real estate market have more than doubled since 2021, with transactions climbing 29% y-o-y in 2023 to surpass the 100k mark for the first time. Increased demand comes on the back of a high influx of foreign buyers turning to Dubai’s property market to safeguard their investments amidst geopolitical tensions and sanctions.

The luxury segment is on the rise: Transactions for luxury properties in Dubai grew 63% y-o-y in 2023. The emirate saw a record 431 units valued at over USD 10 mn handed off last year, owing to its ability to appeal to the international elite as “one of the most affordable luxury markets in the world,” according to a report by Knight Frank.

Fils and Sui score Best Social Impact Project award for sustainable partnership

Dubai-based fintech company Fils and US blockchain platform Sui’s green partnership won the 2024 Best Social Impact Project award at the AIBC Eurasia Awards,according to a press release (pdf). The award nods to the digital players’ collaboration back in December 2023, which saw Fils integrate Sui’s blockchain technology to track carbon credits in its ecosystem, helping businesses mark off ESGs.

Some 10% of Mohammed Bin Rashid University of Medicine (MBRU) faculty have been placed in Stanford’s list of the world’s top 2% of scientists, which recognizes the top most-cited researchers globally,reports Wam.

Empower adheres to Emiratisation targets: Over 15% of the Emirates Central Cooling Systems’ (Empower) workforce is Emirati as of December 2023, with a gender balance focus where women constitute 45% and men make up 55% of the company’s employees, the company said in an ADX filing (pdf).

More Ramadan aid to Gaza: In partnership with American Near East Refugee Aid (Anera), Dubai-based charity Dubai Cares has launched a “Gaza In Our Hearts” Ramadan fundraising campaign, geared at raising emergency relief funds for hot meals, food baskets, waterproof, and fire-resistant tents in Gaza, reports Wam. You can donate to the campaign here, or by sending an SMS to these numbers via du ore& carriers.

The Emirates Red Crescent launched 300 housing units in Syria’s Latakia governorateas part of the UAE’s Gallant Knight 2 humanitarian operation, Wam reports. The units are part of a wider project aimed at delivering 1k housing units to 1.5k Syrians in the areas devastated by the earthquake that hit Latakia in February last year.

Al Ain beat Hatta 5-3, and X loves it

It’s a very much a football-focused day on X, with #العين_حتا (Al Ain-Hatta) making the rounds after Al Ain defeated Hatta 5-3 in the Adnoc Pro League. The match saw a brace from #سلطان الشامسي Sultan Al Shamsi in the 45, and 45+2 minute.

Masdar closes acquisition of RWE’s offshore wind farms + AMEA is moving forward with Egypt green ammonia plant

ENERGY-

#1- Masdar closes UK wind farm acquisition: Renewables player Masdar closed theacquisition of a 49% stake in German energy company RWE’s 3 GW Dogger Bank South offshore wind farms, according to a statement. The acquisition comes as part of Masdar’s larger GBP 11 bn investment ticket into UK renewables, as the plants are expected to generate 3 GW of wind power, accelerating the decarbonization of the UK's energy system.

Masdar’s UK expansion was first announced in Decemberduring COP28, paving the way for Masdar and RWE to co-develop the two offshore wind farms, with construction starting as early as 2025. The first 800 MW of electricity is planned to come online in 2029, with the aim to fully commission the projects by late 2031.

ICYMI- The finalized acquisition comes on the heels of Masdar’s subsidiary, Masdar Arlington Energy, breaking groundon two battery energy storage systems in the UK as part of a GBP 1 bn investment program.

#2- Amea Power moves forward with its green ammonia plant in Egypt: Renewables company Amea Power has started to conduct front end engineering design (FEED) works for its green hydrogen-based ammonia production facility in Ain Sokhna, Meed reported yesterday. The company also tapped an unnamed engineering procurement and construction (EPC) company to begin construction schemes, the company’s project development manager Ignacio Carreras told Meed, adding that Amea Power is also currently working with a hydrogen electrolyser and ammonia licensor. In the meantime “other contractors for the wind and solar measurement campaign are being mandated as we speak,” Carreras said. The company aims to reach a final investment decision by 1Q 2026.

RENEWABLES-

The upcoming phase of MBR solar park may be getting a battery storage facility: The Dubai Water and Electricity Authority (Dewa) is reportedly looking into adding a battery energy storage system to the USD 1.5 bn, 1.8 GW sixth phase — currently under construction — of its 4.66 GW Mohammed Bin Rashid Solar Park, Meed reports, citing a company source familiar with the matter. This comes a month after Dewa and Masdar (tapped as the preferred bidder for the project back in August) reached financial close for the sixth phase. The planned investment ticket and timeline for the battery project were not disclosed.

PETROCHEMICALS-

Borouge sets up shop in Kenya, South Korea: Adnoc petrochemicals JV Borouge has established its new international offices in Kenya and South Korea as part of an expansion plan to grow its global presence and “enhance its extensive international sales and supply chain infrastructure,” Wam reports. With the launch of the new offices, Borouge has grown its portfolio of international offices to 14 across the UAE, China, Egypt, Japan, India, and Southeast Asia.

BANKING-

#1- Introducing the UAE’s first digital Islamic bank: Islamic digital-only bank Ruya is set to launch in the UAE after receiving a license from the Central Bank of the UAE as a specialized bank, Wam reports. Headquartered in Ajman, the bank will offer its services nationwide through digital open house forums to operate as branches, “[encouraging] informal interactions between customers, community members and the bank.”

#2- Ajman Bank partnered with KPMG ESG services to develop the lender’s inaugural environmental, social, and governance (ESG) framework, a press release reads. KPMG will help Ajman Bank undergo an assessment to establish its carbon footprint limits, pinpoint strategic sustainability priorities, and set sustainable goals.

FINANCE-

Morgan Stanley opens its second office in the UAE: Investment bank Morgan Stanely has set up its Abu Dhabi office in Abu Dhabi Global Market, Reuters reports. The new office marks its second office in the UAE after the firm set up shop in the Dubai International Financial Center.

TOURISM-

Abu Dhabi’s Department of Culture and Tourism (DCT) and Abu Dhabi Energy Services (ADES) completed improvements on seven cultural sites,aiming to reduce their water and energy consumption, reports the Abu Dhabi Media Office. The sites are Al Jahili Fort, Al Raha Beach Theatre, Al Qattara Arts Centre, Al Ain Oasis, Zayed Central Library, Al Daham Building, and Hosn Al Dhafra .

TECH-

#1- Dubai Municipality introduced an updated “Knowledge and Innovation Strategy,” promoting the use of intellectual capital and advanced technologies to enhance knowledge management and diversify the city’s innovation portfolio, reports the Dubai Media Office. The strategy came alongside a revised “Knowledge and Innovation Charter,” geared at allocating resources, forging partnerships, and increasing client participation for innovation.

#2- Global Cyber Alliance and DIFC Academy are offering a cybersecurity toolkit for small businesses, providing UAE-based professionals and organizations with strategies to mitigate cyber risks associated with email and internet usage. The toolkit is accessible from DIFC Academy’s School of Future Skills, reports the Dubai Media Office.

#3- Akrim joins the DIFC: Digital tipping platform Akrim received an Innovation Testing License from the Dubai International Financial Centre (DIFC), subjecting the company to regulation under the Dubai Financial Services Authority, said DIFC on LinkedIn yesterday.

HEALTHCARE-

Dubai Health relocated Al Muhaisnah Medical Fitness Center to the Salem MuhaisnahMedical Fitness Center, focusing exclusively on visa medical services, Gulf News reports. Operating 24 hours from Sunday to Thursday, with specific hours on Fridays, the new facility features additional waiting areas for liaison officers and drivers. Some services, such as embalming and Tawajoud service, will continue at the old facility.

AVIATION-

#1- Emirates to resume flights to Cambodia: Emirates has reinstated its daily Phnom Penh service with a transit stop at Singapore, effective 1 May, Dubai Media Office said. Emirates SkyCargo will also provide weekly cargo bellyhold capacity exceeding 300 tonnes on Boeing 777-300ER flights to and from Phnom Penh, exporting textiles, pharma, and other commodities.

#2- Air Arabia is set to add eight aircraft to its fleet in 2024, CEO Adel Ali told CNBC Arabia (watch: runtime: 6:01). The carrier expects to add new routes this year and to expand operations out of its Morocco hub in Rabat after sending three additional aircraft to that location. Air Arabia also does not currently plan to borrow to fund its growth plans as it has sufficient liquidity, but may resort to lending from 2025 onwards, Ali also said.

#3- Etihad Airways adds new services to Turkey + India: The UAE’s national airline Etihad Airways is expanding its network with three weekly seasonal flights to Antalya starting 15 June and four weekly flights to Jaipur starting 16 June, according to a statement.

#4- The Transport Security Department of Dubai Police and flydubai inked an MoU toimprove aviation security and integrate transportation systems, the Dubai Media Office reports.

TRANSPORT-

Dubai’s Roads and Transport Authority signed an MoU with AI service provider Terminus Group to begin trialing a smart robot surveillance system, Wam reports. The initial phase, set to begin in the Jumeirah 3 beach area this month, will assess the robots’ impact on monitoring violations related to bicycles and electric scooters.

SUSTAINABILITY-

Gov’t rolls out global water strategy: Recognizing the urgency of tackling global water scarcity, the government launched the Mohamed bin Zayed Water Initiative, geared towards accelerating the adoption and development of water conservation technologies and raising awareness, Wam reports. The initiative will see the UAE strike international partnerships to increase global water resilience. Foreign Affairs Minister Sheikh Abdullah bin Zayed Al Nahyan is set to chair the initiative.

Nasdaq hits a fresh record in final day of trading in February

Nasdaq had a (really) good day to cap off the month: The Nasdaq Composite closed at a record high yesterday, marking the first time since November 2021 that the tech-heavy index hit a record close. The index, which is up 7.2% year-to-date, was up 0.9% at the close of trading yesterday, driven by a rally in tech and chip stocks, including the VanEck Semiconductor ETF and Advanced Micro Devices. (CNBC | Wall Street Journal)

ADX	9,254	-0.3% (YTD: -3.4%)
DFM	4,308	+0.4% (YTD: +6.1%)
Nasdaq Dubai UAE20	3,738	-0.5% (YTD: -2.7%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	5.1% o/n	5.3% 1 yr
TASI	12,630	+0.2% (YTD: +5.5%)
EGX30	28,964	+0.3% (YTD: +16.4%)
S&P 500	5,086	+0.3% (YTD: +6.7%)
FTSE 100	7,630	+0.1% (YTD: -1.3%)
Euro Stoxx 50	4,877	-0.1% (YTD: +7.9%)
Brent crude	USD 78.44	+0.2%
Natural gas (Nymex)	USD 1.84	-0.9%
Gold	USD 2,054.20	0.0%
BTC	USD 61,011.44	-0.9% (YTD:+38.1%)

THE CLOSING BELL-

The ADX fell 0.3% yesterday on turnover of AED 1.28 bn. The index is down 3.4% YTD.

In the green: Response Plus Holding (+14.8%), Foodco (+11.5%) and Sharjah Ins. (+7.5%).

In the red: Umm Al Quwain General Investment (-9.8%), Gulf Medical Projects (-9.5%) and Abu Dhabi National Takaful (-8.8%).

Over on the DFM, the index closed up 0.4% on turnover of AED 553.36 mn. Meanwhile in Nasdaq Dubai, the index fell 0.5%.

CORPORATE ACTIONS-

Al Mazaya + First Dubai merger receives greenlight: DFM-listed Kuwaiti firm Al Mazaya Holding received regulatory approval from Kuwait’s Capital Market Authority to formally merge with its partially-owned real estate subsidiary First Dubai, according to a DFM disclosure (pdf). Al Mazaya currently holds an 88.82% stake in the real estate developer.

Background: The authority approved the merger previously in 2023. Mazaya Holding has been seeking to fully acquire First Dubai since 2009.

CALENDAR

FEBRUARY

28 February-1 March (Wednesday-Friday): MENA Transport Congress and Exhibition 2024, Dubai.

28 February-5 March (Wednesday-Tuesday): Xposure International Photography Festival, Expo Centre Sharjah.

29 February-3 March (Thursday-Sunday): Gov Games, Dubai Festival City, Dubai.

MARCH

1 March (Friday): Abu Dhabi Family Office Summit, Saadiyat Rotana.

1-3 March (Friday-Sunday): Art Dubai, Madinat Jumeirah.

5-6 March (Tuesday-Wednesday): MRO Middle East, Dubai Trade Centre.

5-7 March (Tuesday-Thursday): World Police Summit, Dubai World Trade Centre.

5-7 March (Tuesday-Thursday): Dubai Entertainment Amusement & Leisure Exhibition, Dubai World Trade Center.

5-7 March (Tuesday-Thursday): Dubai WoodShow, Dubai World Trade Centre.

5-8 March (Tuesday-Friday): Forbes’ Third Annual 30/50 Summit In Abu Dhabi During International Women’s Day.

7 March (Thursday): Beyond Global Trade, Edition Hotel, Dubai.

8-9 March (Friday-Saturday): World Triathlon Championship Series 2024 Opening Race, Yas Marina Circuit on Yas Island.

11/12 March (Monday/Tuesday): Start of Ramadan.

APRIL

TBC April: DRIFTx, Abu Dhabi.

9/10 April (Tuesday/Wednesday): End of Ramadan, public holiday.

8-12 April (Monday-Friday): Eid Al Fitr, public holiday.

16-18 April (Tuesday-Thursday): World Future Energy Summit, Abu Dhabi National Exhibition Centre.

16-18 April (Tuesday-Thursday): Middle East Coatings Show, Dubai World Trade Centre.

16-18 April (Tuesday-Thursday): Middle East Energy, Dubai World Trade Centre.

24-25 April (Wednesday-Thursday): Ras Al Khaimah Investment and Trade Summit, Rak Exhibition Centre.

23-25 April (Tuesday-Thursday): Connecting Green Hydrogen MENA, Madinat Jumeirah Conference Centre.

23-25 April (Tuesday-Thursday): Argus Fertilizer Asia Conference, Abu Dhabi.

24-26 April (Wednesday-Friday): Global Education & Training Exhibition.

24 April-1 May (Wednesday-Wednesday): Abu Dhabi Mobility Week.

29-30 April (Monday- Tuesday): Dubai World Ins. Congress, Atlantis, The Palm.

MAY

6-7 May (Monday-Tuesday): Dubai Fintech Summit 2024, Madinat Jumeirah.

7-9 May (Tuesday-Thursday): AIM Congress 2024, Abu Dhabi.

8-9 May (Wednesday-Thursday): Innovative Finance Expo, Jumeirah Emirates Towers.

14-15 May (Tuesday-Wednesday): Seamless Middle East, Dubai World Trade Centre.

14-16 May (Tuesday-Thursday): The Airport Show, Dubai World Trade Centre.

15 May (Wednesday): HFM Summit, DIFC.

18-26 May (Saturday-Sunday): Abu Dhabi Comedy Week, Abu Dhabi.

JUNE

2-4 June (Sunday-Tuesday): The World Air Transport Summit and International Air Transport Association (IATA)’s annual general meeting, Dubai.

4-6 June (Tuesday-Thursday): The Hotel Show, Dubai World Trade Centre.

4-6 June (Tuesday-Thursday): INDEX, Dubai World Trade Centre.

4-6 June (Tuesday-Thursday): WORKSPACE, Dubai World Trade Centre.

4-6 June (Tuesday-Thursday): Leisure Show, Dubai World Trade Centre.

15 June (Saturday): Arafat day, national holiday.

16-18 June (Sunday-Tuesday): Eid Al-Adha, national holiday.

JULY

7 July (Sunday): Islamic new year, national holiday.

SEPTEMBER

9-11 September (Monday-Wednesday): World Utilities Congress, Abu Dhabi.

28-30 September (Saturday-Monday): World Association of Nuclear Operators (WANO) Biennial General Meeting, Abu Dhabi.

OCTOBER

30-1 November (Wednesday-Friday): World Cities Cultural Summit, Dubai.

NOVEMBER

11-14 November (Monday-Thursday): ADIPEC, Abu Dhabi.

11-14 November (Monday-Thursday): ADIPEC Maritime and Logistics Exhibition and Conference, Abu Dhabi.

11-14 November (Monday-Thursday): ADIPEC Decarbonisation Accelerator, Abu Dhabi.

DECEMBER

2-3 December (Monday-Tuesday): National Day, public holiday.

10-12 December (Tuesday-Thursday): Middle East Business Aviation, Dubai World Central.

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