2Q 2026 corporate earnings came in better than expected

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WHAT WE’RE TRACKING TODAY

THIS MORNING: G42 reportedly eyeing bringing in US majority shareholder + S&P sees increased oil production as boosting growth

Good morning, everyone. It’s a busy day for AI news as Mubadala keeps stacking its AI wagers, while reports of G42 exploring a stake sale in the US resurface.

Mubadala Capital is once again backing US AI infrastructure startup Crusoe, whose USD 3 bn funding round pushed it to a USD 30 bn valuation. The company is continuing to increase its exposure after taking part in successive raises.

That comes as G42 — once again — is said to be considering bringing in a US firm as a majority shareholder, all in the name of securing long-term access to advanced US chips beyond next year’s deadline. (Our take: We flagged this months ago as something to take with a kilo of salt — and we stand on that stance.)

There’s also positive news at home, as UAE-listed firms saw their net income rise 28.6% y-o-y, with earnings surging across banking, food and beverage, and capital goods. S&P expects the UAE’s Opec exit to boost its growth outlook, with output likely to reach 5 mn bbl / d by 2029.

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UAE oil output has room to run

The UAE’s exit from Opec is starting to show up in the growth outlook. Freed from the bloc’s production limits, S&P sees output rising from 3.4 mn bbl / d before the war to 4 mn bbl / d by 2027 and 5 mn bbl / d by 2029, helping lift real GDP growth to an average 6.2% in 2027-29, from just 2.4% this year, according to its latest sovereign ratings report. Abu Dhabi National Oil Company (Adnoc) has already been targeting 5 mn bbl / d of capacity by 2027 for some time now.

That gives the UAE more than a growth boost: S&P expects the extra barrels to support an average fiscal surplus of 3.5% of GDP and an average current account surplus of 13% of GDP over 2027-29. The agency affirmed the UAE at AA/A-1+ with a stable outlook, backed by net assets estimated at 147% of GDP and government debt of around 26% this year.

The bottleneck is getting those barrels out. S&P expects energy flows to recover only gradually as damaged infrastructure, ins. constraints, and disruption around Hormuz continue to weigh on exports. But the system has already proved it can adapt: UAE oil exports were back to around 85% of pre-war levels by early June, at 4.3 mn bbl / d versus 1.9 mn bbl / d in March, helped by Adnoc rerouting crude around Hormuz and storage capacity keeping barrels moving. S&P also points to the new West-East pipeline expected online by 2027 as another layer of redundancy, saying it should double Adnoc’s export capacity through Fujairah.

The oil story is improving faster than the rest of the economy. Non-hydrocarbon sectors make up around 75% of GDP and are still expected to stay muted this year as war-related disruption weighs on tourism, trade, transport, real estate, and manufacturing.

Is G42 weighing an American makeover to secure its chips?

Abu Dhabi AI firm G42 is again said to be in exploratory talks over selling a majority stake to US companies, as Abu Dhabi's national AI champion looks for a permanent fix to Washington's chip-access strings, Bloomberg reports, citing people familiar with the matter.

REMEMBER- We've heard this one before. The Wall Street Journal ran an almost identical story in July, citing unnamed “Emirati officials,” claiming G42 planned to become “mostly US-owned.” We took it with a kilo of salt then, and nothing here changes that read: the UAE builds and owns its national champions — it doesn't sell them. The more likely story, as we’ve flagged then, and as is being reported now as an option, is a G42 outpost in the US, or G42 investments flowing into the US.

G42 itself isn't confirming anything either. A spokesperson told Bloomberg the company remains focused on executing its long-term growth strategy and doesn't comment on confidential discussions or deal reports — a standard non-denial, not evidence either way.

BACKGROUND- Washington moved the UAE into its allies-only export tier in July, letting G42 and other approved firms buy advanced chips license-free. That access lapses in April 2027 unless extended — and longer-term certainty could require changing G42's corporate structure.

This also follows talks reported last week of G42 exploring a separate multi-bn-USD capital raise from outside investors, with no word yet on size or structure. G42 is already backed by Silver Lake and Microsoft (which put in USD 1.5 bn in April 2024) and is building the 5 GW UAE-US AI Campus in Abu Dhabi on Nvidia chips. It cut its Chinese tech ties, including Huawei gear, in 2024 to win that Microsoft money and calm Washington's nerves.

Dar AlBalad is shopping for AI capability

Saudi Arabia’s Dar Al Balad Business Solutions (DBS) has signed a non-binding MoU to explore buying up to 100% of two UAE-based AI firms — Clouding Computer Systems (DWC) and Clouding Intelligence Computer Systems — the company said in a Tadawul disclosure. This is a six-month MoU for due diligence, with no price tag or financial obligation if DBS walks away.

The target bills itself as one of the region’s leading players in enterprise agentic AI and field-deployment engineering. It was the first in the Middle East to take Salesforce’s Agentforce Partner of the Year award and has built its own agentic AI product, Empathy Studio.

DBS has been busy on the balance sheet lately, lining up a SAR 20 mn facility with Emirates NBD in August, following a matching SAR 20 mn line from SNB in June.

Fake goods are getting a 24-hour eviction notice

Suppliers of adulterated, spoiled, or counterfeit goods in the UAE will have little time to clear their shelves under new executive regulations governing the country’s Anti-Commercial Fraud Law, state news agency Wam reports.

Clock’s ticking: Once given formal notification, suppliers must immediately stop selling or displaying the products in question and withdraw them from markets and warehouses within 24 hours. They must also notify all points of sale that received the goods, and publicly announce the withdrawal within 48 hours, in both Arabic and English. This deadline could be tightened if the products pose a human, animal, or environmental safety risk.

PLUS- The regulations also set rules for inspections, seizures, destruction, recycling, and, where permitted, the re-export of offending goods. There’s also a seven-day timeframe for appeals.

Data point

86% — that’s how much average displayed room rates jumped across 15 hotels near Dubai World Trade Centre on busy September dates, rising from around AED 372 to AED 689, according to a Khaleej Times check of Booking.com. The steepest increase came at Novotel Dubai World Trade Centre, where rates climbed 175% to AED 825, while rates at Ibis Dubai World Trade Centre rose 165% to AED 618.

What’s moving the needle: September’s packed events calendar is lifting demand around DWTC, with Middle East Energy, AIM Congress, Arabian Travel Market, GISEC Global, and Seamless Middle East among the major draws.

The jump fits the recovery path we flagged last month: Cavendish Maxwell expects Dubai’s hotel market to start improving from 4Q as connectivity and winter demand pick up, after 1H occupancy fell 30.3% y-o-y to 56.4%. Average daily rates held up much better, down just 7% to AED 701. Operators have been deliberately defending rates through the downturn, wagering that demand would return before they have to discount more aggressively.

PSA

If your UAE business accepts payment in crypto, the Federal Tax Authority has a message for your VAT return — whatever the currency, the numbers need to show up in AED on tax forms, as per a new directive (pdf). The rule applies to taxable businesses supplying digital currency or accepting it as payment. They must select three centralized exchanges from the FTA’s approved list — which currently includes Binance, Bybit Fintech, Deribit, Bitget, and Payward — and stick with them for the calendar year.

How it works: For each transaction, firms will have to calculate the average exchange rate of their chosen exchanges, and use that rate to determine the AED value for the tax return. The FTA said it will separately clarify what businesses should do when an exchange rate isn’t available on platforms.

REMEMBER- Crypto is increasingly being rolled out as a payment option, moving beyond speculative trading into commercial transactions in the UAE.

WEATHER- Temperatures will hit 42°C in Dubai today with an overnight low of 33°C, and 43°C in Abu Dhabi before cooling to 33°C overnight, according to our favorite weather app.

The big story abroad

Geopolitics takes top billing today. The far-right Alternative for Germany (AfD) party has vaulted into first place in Saxony-Anhalt’s regional elections, marking a notable setback for the country’s established parties. Although the AfD secured 44% of the vote in this historic victory, it fell short of the absolute majority required to become the first far-right party to govern a German state since the 1930s.

Ins. cycle ending? An influx of capital into property and casualty ins. is driving down premiums, forcing the ins. industry to brace for a downturn. Meanwhile, high prices combined with low natural disaster losses have pushed payouts to their lowest point since 2006, driving record income for insurers. Industry executives warn of an imminent market downturn as insurers and reinsurers gather in Monaco to begin annual price negotiations for 2027.

China’s next state-level capital injection: Beijing is shoring up capital across its financial system by enacting a USD 54 bn capital injection into public banks and insurers, with the country’s largest life insurer — China Life Ins. — snapping up USD 5.2 bn. The move coincides with persistently low interest rates that squeeze profitability across the ins. sector, leaving many small and mid-size carriers with weakening solvency ratios.

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Abu Dhabi races ahead of Dubai as GCC earnings hit another record

UAE-listed companies had a strong 2Q despite the knock-on effects of the war, with combined net income across Abu Dhabi and Dubai jumping 28.6% y-o-y to USD 21.6 bn, according to Kamco Invest’s latest corporate earnings report (pdf). Abu Dhabi did most of the heavy lifting: Listed companies saw earnings surge 41.8% to USD 14.7 bn, versus Dubai’s more measured 4.9% rise to USD 6.9 bn.

The Abu Dhabi snapshot: The banking and food, beverage, and tobacco segments both posted USD 3.5 bn in earnings, with the latter segment’s income more than tripling. This came largely from IHC’s non-operating gains. Capital goods also saw significant growth, rising 170% and led by 2PointZero.

Over in Dubai, banks and real estate accounted for 75.9% of exchange-wide earnings. Growth in banking income was mainly attributed to our friends at Mashreq, while income from recurring revenue portfolios boosted real estate results. Utilities saw a slight dip y-o-y but were still up 9.3% y-o-y for 1H.

That’s an acceleration from 1Q: Abu Dhabi-listed earnings had risen 16.1% y-o-y in the first quarter, compared with Dubai’s 12.3%.

Still, there were some declines: Abu Dhabi energy earnings fell 30.4% to USD 1.6 bn, from USD 2.3 bn a year earlier, as the Iran war cut into export volumes even as prices spiked.

!SubHed! Zooming out

GCC corporate earnings hit another record in 2Q: Aggregate net income jumped 31.3% y-o-y to USD 74.8 bn, marking the region’s second straight quarter of annual growth, according to the report.

Oil did much of the heavy lifting: Energy sector earnings surged 41.6% y-o-y to USD 36.2 bn as higher crude prices more than offset weaker regional export volumes. Saudi Aramco alone reported USD 32.3 bn in net income, up 42%, after realized crude prices climbed to USD 108.1 / bbl from USD 66.7 / bbl a year earlier.

The regional scoreboard was less uniform: Saudi-listed companies posted a 36.7% jump in earnings, and Oman gained 24.2%, while Qatari-listed earnings fell 20% as telecom, energy, and real estate dragged. Bahrain was broadly flat, and Kuwait’s near-doubling came off a weak comparison base distorted by Agility’s prior-year losses.

Mubadala backs Crusoe again as valuation triples to USD 30 bn

Mubadala Capital is backing Crusoe again as the US AI infrastructure startup raises more than USD 3 bn at a roughly USD 30 bn valuation, Bloomberg reports, citing people familiar with the matter. Atreides Management and Valor Equity Partners co-led the finalized round, with Mubadala Capital also participating. The specific investment size has not been disclosed.

A valuation jump: The valuation is post-money, up from just over USD 10 bn in Crusoe’s last raise 10 months ago. Its pre-money valuation sat at around USD 27 bn, the sources said.

What’s driving the jump: Crusoe recently signed a five-year, roughly USD 13 bn cloud agreement with Jane Street to supply GPUs and other computing capacity — a contract Bloomberg says helped draw more interest to the raise. The company also supplies Meta, Microsoft, and Oracle, as demand for AI compute keeps data-center spending elevated. Crusoe moved into the AI infrastructure space after an initial focus on sectors like natural gas and crypto mining.

The scale-up is getting serious: Crusoe said in June it had contracts covering 4.9 GW of computing power and a project pipeline above 40 GW. It is also developing the flagship Texas site for OpenAI and Oracle’s Stargate project, with Microsoft leasing an expansion of the campus.

Why it matters: Mubadala Capital's position in Crusoe dates to the USD 350 mn Series C in June 2022. It's stayed in every round since: the USD 600 mn Series D, the USD 1.375 bn Series E it co-led with Valor last October, and now this one, as Crusoe's valuation has climbed roughly 17x in three years. It's one of the clearest live examples of how early — and how consistently — Gulf capital has bet on the physical infrastructure layer of the AI buildout, not just the model layer.

What’s next: Crusoe is also separately in talks with JPMorgan, Goldman Sachs, Morgan Stanley, and Bank of America about a potential IPO, Axios reported in August. No timeline, size, or valuation has been set, and the company continues to weigh private capital alongside it. A listing would eventually give Mubadala Capital a public exit path on a position it’s held for three years, and would be one of the first real tests of how public markets price a company whose valuation has, so far, been set entirely by private rounds.

Chinese automaker Rox rolls its first Abu Dhabi-built cars off the line, with exports — not just local sales — as the real target

Rox cars off the line in Abu Dhabi

Rox Motor’s Abu Dhabi facility has produced its first three Adamas SUVs, each stamped “Made in the Emirates,” state news agency Wam reports. Two of the first units are reportedly already headed out on a marketing drive across West Africa, per Business Today Middle East — before most UAE buyers have seen one in person.

Why it matters: The plant is meant to scale fast — from an initial 20k vehicles in 2027 to 300k a year by 2030 — and it's built to serve both UAE demand and export markets, according to AGBI. That export mandate is the real story: it's a test of Abu Dhabi’s push to attract foreign manufacturers. It launched the SAVI cluster at Masdar City in 2023 to support the development of smart and autonomous technologies. The cluster has since onboarded firms including UK-based Gridserve and China’s EHang Holdings, and is expected to contribute AED 44 bn to GDP and create up to 40k jobs by 2045.

BACKGROUND- The firm has partnered with the Abu Dhabi Investment Office to set up its regional HQ in the emirate and expand its local operations. Rox had also partnered with ADX-listed Borouge for the petrochemicals firm to supply it with polyolefin materials for its Adamas SUV.

Abydos 2 starts testing

Amea Power has started trial operations at its Abydos 2 solar project in Aswan’s Benban area in Egypt, paving the way for full commercial operation and grid connection in September 2026, Asharq Business reports, citing an unnamed source. The trial phase comes about three months after the originally targeted June 2026 commercial operation date.

What to expect from the project: The facility pairs 1 GW of solar PV capacity with a 600 MWh battery energy storage system, making it Africa’s largest single-site renewable energy project once operational. It is expected to deliver more than 3k GWh annually, enough to power over 500k homes while reducing carbon emissions by nearly 1.6 mn tons per year.

The project operates under a 25-year PPA with the Egyptian Electricity Transmission Company, and electricity will be sold at a tariff of USD 0.028/kWh, well below Egypt’s average generation cost of USD 0.072/kWh, according to the Dutch Development Bank (FMO), one of the project financiers. Once online, Abydos 2 will raise the country’s total renewable capacity to 11.5 GW and boost Amea Power’s Egypt portfolio to over 2.5 GW of wind and solar, plus 2.4 GWh of storage.

EM debt fares well amid US Treasury selloff

Emerging-market bonds are shrugging off a selloff that's sent developed-market yields to multi-year highs. The US 30-year Treasury has climbed to its highest level since 2007, yet EM issuers have kept coming to market and buyers have kept showing up, Bloomberg reports. Where investors once demanded a steep premium for EM risk, several things are narrowing that gap.

“EMs are the new DMs,” Gavekal Research’s Udith Sikand says, pointing out failings on the latter’s part to keep a lid on inflation in recent years.

Two forces are doing the work: EM policymakers have gotten the basics right — inflation targeting, fiscal discipline, reserve buffers. And Washington's own fiscal picture is eroding the comparison: a shakier outlook for benchmark Treasuries makes EM paper look relatively less risky than it used to. A Treasury buyback program is meant to ease Washington's own ballooning debt-servicing bill, but hasn't fully calmed the market.

Persistently high energy prices on the back of the Hormuz disruption have kept inflation and yields high, particularly in developed markets, with September’s inflation reading from the Fed expected to register over a percentage point higher than targets. Other developed markets are also reluctant to make the unpopular move of reducing budget deficits that ballooned during the pandemic, Standard Bank’s Steven Barrow said.

The proof: EM local-currency bonds are up 3.5% this year against a 1.7% decline for developed-market equivalents. Pakistan’s recent junk bond sale raised a record USD 3 bn, seeing orders of nearly USD 6 bn following a ratings upgrade. The paper’s risk premium tightened by roughly 25 bps amid a tightening spread in response to rising Treasury yields. JPMorgan Chase’s gauge of EM bond premiums over the US also held steady. Plus: Uruguay central bank chief Guillermo Tolosa points to rising appetite for local-currency debt over USD paper — a shift already visible in Africa's local-currency debt boom.

Closer to home, the story is messier — and more exposed than “resilient.” Long-dated Gulf sovereign bonds have fallen to multi-month lows since the war escalated, as regional risk stacks on top of the global Treasury selloff. A Saudi 30-year bond has dropped 8.5% in price, pushing its yield to a 16-month high of 6.2%; comparable Qatari and Omani 30-year paper are down 10.3% and 6.9%, with Qatar hit hardest as Iran's near-closure of the Strait of Hormuz has gutted Gulf seaborne gas exports, AGBI reported recently. Credit spreads over Treasuries have held up better than those price moves suggest — but Mashreq Capital's Amol Shitole argues that's not reassurance: spreads should be 25-50 bps wider than they are, he says, given the risk still on the table. Saudi paper carries an extra burden of its own: heavy issuance from the government, Aramco, and PIF has created a supply-driven repricing on its long-dated bonds specifically, on top of the war and the Treasury selloff.

What’s next: The Fed's 16 September rate decision will move Treasury yields broadly. For Gulf bondholders specifically, Franklin Templeton's Mohieddine Kronfol says events in the Strait of Hormuz — and each government's own funding calendar — will matter just as much.

MARKETS THIS MORNING-

Asian markets mostly rose earlier today, with South Korea’s Kospi gaining around 2.8% and Japan’s Nikkei rising around 2%, even as attention returned to escalating regional tensions following reciprocal military strikes between the US and Iran.

ADX	9,977	+0.5% (YTD: -0.2%)
DFM	5,885	+0.7% (YTD: -2.7%)
Nasdaq Dubai UAE20	4,794	+0.8% (YTD: -1.9%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	3.5% o/n	4.3% 1 yr
TASI	11,069	+0.3% (YTD: +5.5%)
EGX30	56,676	+0.7% (YTD: +35.5%)
S&P 500	7,719	-0.4% (YTD: -12.8%)
FTSE 100	10,831	+0.0% (YTD: +9.1%)
Euro Stoxx 50	6,393	+0.2% (YTD: +10.3%)
Brent crude	USD 96.77	+0.5%
Natural gas (Nymex)	USD 2.95	-0.9%
Gold	USD 4,467	-0.2%
BTC	USD 79,648	-0.2% (YTD: -9.1%)
Lunate JP Morgan UAE Bond UCITS ETF	AED 3.62	+0.0% (YTD: +1.0%)
S&P MENA Bond & Sukuk	150.68	-0.1% (YTD: -0.8%)
VIX (Volatility Index)	14.53	+1.5% (YTD: -2.8%)

THE CLOSING BELL-

The DFM rose 0.7% on Friday on turnover of AED 497.2 mn. The index is down 2.7% YTD.

In the green: Shuaa Capital (+14.9%), Drake & Scull International (+9.5%), and Union Properties (+9.0%).

In the red: National International Holding Company (-2.7%), Emirates Reem Investments Company (-2.0%), and Commercial Bank of Dubai (-1,6%).

Over on the ADX, the index rose 0.5% on turnover of AED 925.4 mn. Meanwhile, Nasdaq Dubai was up 0.8%.

CALENDAR

SEPTEMBER

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.

17-19 September (Thursday-Saturday): International Real Estate & Investment Show (IREIS), Adnec, Abu Dhabi.

18-19 September (Friday-Saturday): EuroLeague Basketball SuperCup, Etihad Arena, Yas Island, Abu Dhabi.

28-29 September (Monday-Tuesday): Al Ain Future Business Forum, Adnec, Al Ain, Abu Dhabi.

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

OCTOBER

1-2 October (Thursday-Friday): MEIRA Annual Conference, Atlantis the Royal, Dubai.

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.

14-15 October (Wednesday-Thursday): Sharjah Investment Forum, Jawaher Reception and Convention Center, Sharjah.

13-15 October (Tuesday-Thursday): Annual Meeting of Global Future Leaders, Dubai.

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

21 October (Wednesday): Reuters NEXT Gulf, St. Regis Saadiyat Island Resort, 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.

9-13 November (Monday-Friday): World Congress of Military Medicine, Adnec Center, 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.

18-19 November (Wednesday-Thursday): Touchdown Middle East 2026, Conrad Abu Dhabi Etihad Towers, Abu Dhabi.

25-26 November (Saturday-Sunday): Doers Summit, Dubai Silicon Oasis, 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.

7-10 December (Monday-Thursday): Abu Dhabi Finance Week, Al Maryah Island, Abu Dhabi.

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

8-10 December (Tuesday-Thursday) Middle East & North Africa Business Aviation Association Show, DWC, Dubai Airshow Site.

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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