Adnoc takes Adnoc L&S stake to market

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WHAT WE’RE TRACKING TODAY

THIS MORNING: D-day for Sidara? + Sotheby’s brings first auction series to Abu Dhabi in December

Good morning, friends, and happy FRIDAY. We close out the week with a busy issue on the capital markets front, before we head into the weekend, and later, a shorter workweek.

THE BIG STORY here at home is Adnoc’s follow-on offering of a stake in Adnoc Logistics and Services, as it looks to boost its freefloat in a move similar to Adnoc Gas’ offering earlier this year. Also worth your attention: Abu Dhabi Investment Authority is investing USD 1.5 bn in Singaporean logistics firm GLP, after being an LP for the firm for a while.

Plus: First Abu Dhabi bank has issued its first blue bond, Tecom is investing AED 1.6 bn to expand its Dubai Industrial City land portfolio, and Amea Power is building a USD 200 mn desalination plant in Angola.

WEATHER- Dubai will see a high of 41°C today, dipping to 32°C overnight, while temperatures in Abu Dhabi are set to peak at 42°C with the same overnight low. Humidity could reach 78% in Dubai and 81% in Abu Dhabi, making conditions feel hotter. The National Center of Meteorology (pdf) says there’s also a chance of rain this weekend.

WATCH THIS SPACE-

#1- UK-listed engineering firm Wood Group has extended the deadline for the UAE’s Sidara to submit a formal takeover bid to today, according to a statement. Sidara completed its due diligence earlier this month, and reduced its bid to a payment of GBP 0.30 a share, valuing the firm at GBP 207.6 mn (USD 280.5 mn), down from GBP 0.35 a share earlier. The reduced price — which was endorsed by Wood’s board — is still a premium to Wood’s last closing price of GBP 0.18 per share.

REMEMBER- Wood has been the subject of an on-again, off-again takeover bid from Dubai-based Sidara for over a year. After initially scrapping the bid, it returned to talks later and extended the deadline to submit a formal bid several times. Talks have stretched on as the Financial Conduct Authority (FCA) launched a probe into Wood’s accounts, forcing the firm to restate its 2022 and 2023 financials, leading to a temporary suspension of its shares and weighing on its valuation.

#2- Sotheby’s will launch its first auction series in Abu Dhabi this December, called the Abu Dhabi Collectors’ Week, running from 2 to 5 December, according to a press release. The auction will include jewelry, rare timepieces, collector cars, and real estate.

ICYMI- The event will mark the first time McLaren auctions off its upcoming competition cars. Also up for grabs are a 2010 Aston Martin One-77, a 2017 Pagani Zonda 760 Riviera expected to fetch up to USD 10.5 mn, and a diamond collection worth over USD 20 mn.

REMEMBER- Abu Dhabi sovereign wealth fund ADQ acquired a minority stake in Sotheby’s — the world’s oldest and largest fine arts auctioneer — last year. Demand for Sotheby’s in the MENA region has been surging for the past five years, with UAE-based buyers increasing 25%, Bloomberg reports

#3- Talabat parent company cuts earnings forecast amid weaker USD: Delivery Hero — Talabat’s German parent firm — has slashed its full year earnings forecast on the back of foreign exchange headwinds, according to its earnings release. The company now expects some EUR 900-940 mn in adjusted EBITDA for the year, down from previous guidance of EUR 975 mn - 1 bn. Bloomberg namechecked the weakening USD and KRW as the main reasons behind the downgraded forecast.

In context: Asia — where several currencies are tied to the weaker USD or have suffered setbacks due to soaring trade tariffs — represents Delivery Hero’s largest market.

The company recorded a 25% y-o-y growth in like-for-like revenues to EUR 7.2 bn in 1H 2025, according to its earnings, beating analyst forecasts.

It’s a different story for its Middle East unit: Talabat reported a solid growth in earnings and income in 2Q and 1H of 2025, raising its forecasted full-year revenue growth to between 29-32% — up from 18-20%.

PSA-

Fly Cham now flies to Sharjah: Syrian carrier Fly Cham launched regular services to Sharjah yesterday, Sharjah 24 reports. The airline will run five weekly flights from Damascus and two from Aleppo, all on Airbus A320 aircraft. This follows the re-introduction of international flights to and from Syria earlier this year, which also saw Emirates and Flydubai resume flights to the country following a long hiatus.

HAPPENING THIS WEEK-

The annual Abu Dhabi International Hunting and Equestrian Exhibition kicks off from Saturday, 30 August till Sunday, 7 September at the Adnec Center, and is expected to be the largest since the exhibition’s launch in 2003. The event, organized by the Adnec Group in cooperation with the Emirates Falconers’ Club, will attract local and international participants from 15 different sectors, including hunting tools, outdoor gear, equestrianism, conservation, arts, and heritage, according to a press release.

THE BIG STORY ABROAD-

The US Federal Reserve is still dominating headlines in more ways than one, with US President Donald Trump’s firing of Fed governor Lisa Cook still making the rounds after she sued him over the move, and a Fed official giving his stance on rate cuts over the next six months.

Cook said Trump has no cause to fire her, even if allegations of mortgage fraud that were made against her were true — though her lawyers have said the mortgage issue was likely just a clerical error. The dispute comes as yet another move that raises concerns over the Fed’s independence, which has been put into question since Trump seemed to be weighing the option of firing Powell. (Reuters | Bloomberg | Wall Street Journal)

Fed governor Christopher Waller said he wants rate cuts to begin as of next month’s meeting, which he exected will deliver a 25 bps rate cut, though he did not completely dismiss the possibility of a bigger cut if employment data out next Friday shows a substantially weakening economy alongside contained inflation. (Reuters | Financial Times)

SPEAKING OF- The US’ economy grew at 3.3% in 2Q 2025, faster than expected on the back of healthy consumer spending and a drop in imported goods. (WSJ)

ALSO- The US just ended the de minimis tariff exemption on small packages valued at USD 800 or less, potentially shaking up the e-commerce sector, with several already suspending deliveries of small packages or raising prices. (Bloomberg)

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CIRCLE YOUR CALENDAR-

The Spring/Summer edition of Dubai Fashion Week will run from Monday, 1 September until Saturday, 6 September at Dubai Design District (d3), ahead of the New York, London, Milan, and Paris fashion weeks. The edition will showcase more than 30 brands from the UAE, Europe, India, and beyond, with runway shows, private events, and an expanded buyers’ program.

The International Government Communication Forumis happening on Wednesday, 10 and Thursday, 11 September at Expo Center Sharjah. Hosted by the Sharjah Government Media Bureau (SGMB), the two-day forum will include panel discussions, workshops, and keynote speeches focused on using strategic communication to develop five global priorities: food security, public health, education, environmental sustainability, and green economy.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

Adnoc takes additional 3% stake in Adnoc L&S to market, seeking USD 328 mn

Adnoc pulls the trigger on Adnoc L&S follow-on offering: Adnoc is selling an additional 3% stake in Adnoc Logistics and Services (Adnoc L&S), through a bookbuilding kicking off yesterday, state news agency Wam reports. Adnoc is said to be seeking AED 1.2 bn (USD 328 mn) from the sale, Bloomberg reports, citing a term sheet it had seen.

Strong demand: The offering, which comprises 222 mn ordinary shares and is restricted to institutional investors in and outside of the UAE, was fully covered with demand exceeding the offer size. Pricing and final allocation are expected to be out today after the close of the bookbuilding process, with settlement set for early next week. Adnoc also committed to a six-month lockup period for shares not sold in the offering from the first day of trading.

The sale will boost liquidity and diversify the shareholder base, supporting Adnoc L&S’ potential inclusion in the MSCI Emerging Market Index. The offering will bring the issuer’s total freeflloat to 22%, up from the current 19%. The firm IPOed in 2023, raising USD 769 mn.

REMEMBER- Adnoc also sold an additional 4% stake in Adnoc Gas earlier this year for USD 2.8 bn, bringing freefloat up and paving the way for its inclusion in the MSCI Emerging Market Index and FTSE’s All-Cap, Large-Cap, All-World, and Total-Cap Indices.

Adnoc L&S had a good 1H: The firm’s bottom line rose 5% y-o-y to USD 420 mn in 1H 2025, while its top line went up 40% y-o-y to USD 2.4 bn for the same period. The full-year guidance was raised with net income expected to post “low to mid double digit y-o-y growth.” Meanwhile, each of the 16 international financial institutions that cover the firm have issued a “strong buy” or “buy” recommendation for the company.

ADVISORS- Adnoc tapped First Abu Dhabi Bank, JP Morgan Securities, International Securities, BOCI Asia, and China International Capital Corporation Hong Kong Securities as joint global coordinators and joint bookrunners for the offering.

The news was also picked up by Reuters.

Adia to invest up to USD 1.5 bn in Singaporean logistics firm GLP

A subsidiary of the Abu Dhabi Investment Authority (Adia) will invest up to USD 1.5 bn in Singapore-based GLP, a logistics investor and builder with USD 80 bn in assets under management, according to a press release (pdf). The wealth fund has been a backer of GLP’s funds for years, but this is the first time it will acquire shares in the group, Reuters reports.

How it’s structured: Adia will kick things off with a USD 500 mn investment in GLP to shore up its financial position and speed up expansion in logistics, data centers, and renewable energy. The rest of the funds are set to be invested over the next few months, a source familiar with the matter told the newswire.

Fresh capital from China, too: Earlier this week, GLP secured CNY 2.5 bn (USD 349.5 mn) from Zhejiang government-backed investors to expand its data center footprint in China.

What they said: “We have successfully invested in GLP funds for a number of years. This transaction will allow us to deepen that relationship, support the company in its next phase of growth and scale our exposure to new economy sectors,” Executive Director of the Real Estate Department at Adia Mohamed Al Qubaisi said.

IPO still on the table: GLP has been preparing for a Hong Kong listing, reportedly targeted for 2025. The company still intends to pursue the listing, but it will not take place this year, according to two people familiar with the plans.

Adia has been steadily upping its exposure to logistics. In June, it was involved in a block trade to acquire a stake in BlackBuck (Zinka Logistics Solutions) worth INR 302 crore (AED 133 mn), alongside ICICI Prudential Mutual Fund, and Massachusetts Institute of Technology (MIT), Economic Times reports.

FAB issues debut HKD 390 mn blue bond

FAB enters the blue bond market: First Abu Dhabi Bank (FAB) issued a five-year HKD 390 mn (USD 50 mn) blue bond through a private placement, marking the first such issuance by a Gulf lender, it said in a press release. The offering was anchored by an unnamed “dark green” investor — which buys strictly into sustainable assets — looking for a water-linked instrument, the statement read.

SOUND SMART- A blue bond is a type of debt instrument issued to finance projects that protect, restore, or sustainably manage oceans, marine ecosystems, and freshwater resources. These bonds fund initiatives such as marine conservation, sustainable fisheries, clean shipping, coastal resilience, and port decarbonization.

Where’s the money going? Eligible initiatives in FAB’s blue asset pool include sustainable water management, climate adaptation projects, sustainable fisheries and aquaculture management, and the protection of terrestrial and aquatic biodiversity.

Not the first blue paper from the UAE: Port operator DP World issued the MENA region’s first corporate blue bond worth USD 100 mn back in December of last year. Proceeds were directed toward sustainable port development and marine ecosystem projects.

UAE ♥️ Asian capital: The bond allows FAB to diversify its funding sources and, being denominated in HKD, is expected to attract primarily Asian investors. It’s not the first lender to tap Asian capital as of late, with Emirates NBD returning to the Dim Sum market after more than a decade with a CNY 1 bn debt issuance.

ADVISORS- FAB tapped Crédit Agricole Corporate and Investment Bank as the sole dealers on the transaction.

Tecom to invest AED 1.6 bn to expand its Dubai Industrial City land portfolio

Tecom Group to invest AED 1.6 bn in Dubai Industrial City expansion: Business district developer Tecom Group approved an AED 1.6 bn investment to acquire 138 land plots spanning 33 mn sq ft in Dubai Industrial City, according to a DFM disclosure (pdf). The land will be purchased from Dubai Holding Asset Management through Tecom’s subsidiary Dubai Industrial City, raising the group’s industrial land portfolio to more than 209 mn sq ft.

The details: Tecom Group will fund the acquisition using its existing resources under a flexible repayment plan, and expects to begin recognizing revenue from the expanded land bank within 12-24 months.

This brings the group’s total investments in its commercial and industrial portfolio to AED 4.3 bn since 2024. In May 2024, Tecom’s board approved an AED 1.7 bn acquisition plan comprising AED 966 mn for 13.9 mn sq ft of land in Dubai Industrial City — now fully leased — and later hiked total investments up to AED 2 bn to develop offices in Dubai Internet City and Dubai Design District. It also later signed an agreement to purchase a AED 720 mn commercial asset in Dubai Internet City from Emirates REIT.

Occupancy across Tecom’s portfolio stood at 95% in 1H 2025, up from 92% a year earlier, with land lease occupancy at 99%. The company’s customer base grew 5% y-o-y to over 12.2k.

Amea Power, Cox to build USD 200 mn Angola desalination plant

Amea Power inks Angola desalination agreement: Dubai-based Amea Power signed a cooperation agreement with Angola’s Energy and Water Ministry to develop a seawater desalination plant on Luanda’s Mussulo Peninsula set to cost more than USD 200 mn, according to a statement. The project will be executed through Water Alliance Ventures, a joint venture between Amea Power and Spain’s Cox.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

A long time in the making: Amea began development work on the facility in 2022, followed by feasibility studies completed in late 2024.

Structure and timeline: The facility will be built in two 50k cubic meters / day phases for a total capacity of 100k cubic meters / day. Construction of the first phase is due to begin once environmental approvals are secured, with commissioning slated for 2Q 2028. Each phase is expected to create about 300 construction jobs and 25 permanent positions.

Bigger picture: The plant will supply potable water to about 800k residents in Mussulo and neighboring Futungo, and will complement existing infrastructure programs designed to expand access to clean water in Luanda.

It’s been a busy week for UAE-Angola ties: The news follows a trade and economic partnership agreement signed earlier this week with Angola, as well as several MoUs with UAE firms such as Dubai Investments, Space42, and AD Ports in logistics, manufacturing, and space. The two countries also agreed to set up a UAE-Angola Business Council to boost investment and trade.

REFRESHER- Amea and Cox formed Water Alliance Ventures in May to co-develop water and energy infrastructure projects across the Middle East, Africa, and Asia. Amea Power previously picked up a 3.76% stake in Cox during its IPO in November and signed a EUR 250 mn agreement in Morocco to expand the Agadir desalination plant through the JV.

The story also got ink from Bloomberg.

Credit demand growth moderates q-o-q in 2Q but remains strong

Growth in credit demand in the UAE moderated on a q-o-q basis in 2Q 2025, but remained in the positive territory, largely supported by robust economic conditions, higher household incomes, and an encouraging investment climate, according to the Central Bank of the UAE’s (CBUAE) 2Q 2025 Credit Sentiment Survey (pdf). The survey, based on 259 responses from senior credit officers at licensed financial institutions across Abu Dhabi, Dubai, and the Northern Emirates, underscored rising credit activity across all emirates.

Business loan demand continued to grow, though at a slower pace, with 47.9% of respondents reporting an increase in demand. Dubai saw the strongest demand for business loans, followed by Abu Dhabi and the Northern Emirates. The growth was supported by “stronger economic conditions as well as high working capital requirements, resilient investment, and high government expenditure,” according to the report. Interest rates were also a key driver of credit demand during the quarter.

Lending was also steady on the back of “improving bank asset quality, stable borrower creditworthiness, and a higher risk tolerance,” the report said.

ICYMI- The CBUAE decided in July to hold interest rates steady for the fifth time in a row, following in the footsteps of the US Federal Reserve. The base rate applicable to the overnight deposit facility remains at 4.4%, while the rate applicable to borrowing short-term liquidity was kept at 50 bps above the base rate for all standing credit facilities.

Expansion extended across all segments: Large firms posted the highest net balance, followed by SMEs and government-related entities (GREs). The property development sector saw the strongest growth in credit demand, followed by retail and wholesale trade, construction, and manufacturing.

The road ahead: Growth in business credit demand is expected to strengthen moderately in 3Q 2025, led by the construction, retail and wholesale trade, manufacturing, transport, storage & communications, and property development sectors.

Personal loan demand also posted steady growth in the 2Q but eased compared to the previous quarter, with Abu Dhabi taking the lead, boosted by strong economic conditions and higher household incomes. Demand for credit cards, housing loans (for owner-occupiers), car loans, and other personal loans saw the biggest increases during the period. Meanwhile, “financial institutions’ lending appetite was supported by a solid economic outlook, strong competition from other banks and financial institutions, improving bank asset quality and stable borrower creditworthiness,” according to the survey.

Looking ahead to 3Q, expectations are that both demand and supply of personal credit will increase, suggesting a positive outlook for personal credit conditions.

Credit standard mixed: Premiums on riskier loans increased during the quarter, while adjustments to LTV/LTI ratios and non-interest fees and charges for personal loans recorded a small uptick.

The share of rejected personal loan applications grew at a moderate pace during the quarter, with a higher rejection rate recorded for car loans more than offsetting the decrease in credit card rejections.

Docktour to boost Angola’s healthcare infrastructure and supply chain

HEALTHCARE-

Docktour to boost healthcare infrastructure and logistics in Angola: Docktour — AD Ports and Burjeel Holdings’ healthcare logistics JV — signed an MoU with Angola’s Health Ministry to enhance its medical infrastructure and supply chain capabilities, according to a press release (pdf). The cooperation will focus on the transport of medical equipment and pharma products, the development and management of hospitals, and the digitization of logistics-related healthcare services to optimize operational oversight for emergency healthcare providers.

The agreement comes amid a broader push to strengthen UAE-Angola economic ties. Earlier this week, the two countries signed a trade and economic partnership agreement targeting USD 10 bn in bilateral trade by 2033, along with several MoUs in sectors including AI, banking, and agriculture, with more cooperation expected in service sectors.

DEFENSE-

Condor + 4iG S&D ink MoU for defense hub in Hungary: Condor, the non-lethal ammunitions arm of Emirati state-owned defense group Edge, has signed an MoU with Hungary’s 4iG Space and Defense Technologies (4iG S&D) to establish a regional hub for non-lethal defense solutions in Hungary, according to a press release. The partnership seeks to optimize Hungary’s non-lethal defense sector and Europe’s wider security landscape by localizing the production of non-lethal technologies for Central European law enforcement and regional security forces.

This isn’t their first agreement: Earlier this July, Edge and 4iG S&D signed three agreements to explore jointly developing and producing air defense missile systems, loitering munitions, and unmanned air traffic control solutions.

MANUFACTURING-

Emirates Glass to manufacture electricity-generating glass: Emirates Glass has signed a five-year agreement with Australia’s ClearVue Technologies to produce solar-integrated glazing products at its UAE facility starting this year, according to a press release (pdf). The agreement also gives Emirates Glass non-exclusive rights to distribute the products across the GCC.

SOUND SMART- The glazing process integrates photovoltaic technology into transparent, insulated glass panels, allowing buildings to generate electricity from sunlight. The glass can be installed in facades, skylights, windows, canopies, spandrels, and cladding across commercial, residential, and institutional projects.

FINANCIAL SERVICES-

National Bonds launches women-focused savings plan: National Bonds has introduced an emergency fund savings plan designed for Emirati women, called the Ahed program, state news agency Wam reports. The initiative was launched on Emirati Women’s Day and aims to reach 10k participants in its first year.

How it works: The program introduces an “emergency preparedness formula,” recommending a reserve equal to 6x monthly expenses to cover unforeseen events. It will also offer flexible saving plans across income levels, financial planning workshops, and app-based registration and tracking.

London’s IPO drought deepens as Frankfurt, Zürich pull ahead

London’s IPO pipeline is running dry, with just GBP 8.8 bn raised in IPOs and follow-ons in 1H 2025 — the weakest inflation-adjusted tally in three decades, the Financial Times reports. Only three IPOs have landed on the main market this year, pulling in just USD 208 mn, compared to USD 16.7 bn raised by this point in 2021, Reuters reports.

REMEMBER- Despite post-Brexit reforms, years of equity outflows since 2016 have left London trailing rivals. The UK ranked just 20th globally for IPO proceeds in 2024, far behind the UAE (5th), Saudi Arabia (7th), and Oman (14th). The Middle East alone accounted for over half of global IPO volumes, while London raised only USD 1 bn, down 9% y-o-y. The city also lost 45 firms to delistings and takeovers.

IPO action is also shifting to continental Europe. Frankfurt and Zürich are preparing for a September wave, with expected listings from Germany’s Stada, Ottobock, Deutsche Börse’s ISS Stoxx unit, and Switzerland’s Swiss Marketplace Group. “These listing locations have the potential to become trailblazers for Europe,” Markus Meier, Bank of America’s head of equity capital markets in Germany, told Reuters.

Bankers pivot: With IPO mandates scarce, city firms are leaning on other business lines. Panmure Liberum now generates more than half of its revenue from advisory work, up from just a quarter in 2021. Peel Hunt has also seen research revenues rise as investment banking fees fell.

Others are arranging so-called “private IPOs” for private equity clients. These are structured secondary placements that mimic floats but never reach the open market. Secondary sell-downs in London reached GBP 14.6 bn last year — more than double 2023 levels.

The verdict is mixed: While stopgap transactions keep bankers busy, they tend to be shorter, lower-fee mandates that rarely match the scale of a full IPO — both a blessing and a drawback. “IPOs are a lot of work and have a lot more banks and big syndicates [to split fees between]… but if you do a big equity placing it’s actually less work and pretty profitable for the time you put in,” one senior banker told the FT. IPOs are also valued for the longer-term client relationships they help secure.

MARKETS THIS MORNING-

Asian markets are mixed this morning, with Japan’s Nikkei leading losses with a 0.4% dip, after core CPI — which strips out fresh food but includes energy — came in at 2.5% for August, which is still above the Bank of Japan’s 2% target. Chinese indices were the only ones in the green, with Hong Kong’s Hang Seng up 0.5% and mainland China’s CSI 300 up 0.1%, as China gears up for a visit from Indian Prime Minister Narendra Modi.

Over on Wall Street, futures are little changed after all three indices closed in the green yesterday.

ADX	10,119	-0.6% (YTD: +7.4%)
DFM	6,084	-0.7% (YTD: +17.9%)
Nasdaq Dubai UAE20	4,911	-1.1% (YTD: +17.9%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	4.2% o/n	4.2% 1 yr
TASI	10,732	-0.7% (YTD: -10.8%)
EGX30	35,727	+0.1% (YTD: +20.1%)
S&P 500	6,502	+0.3% (YTD: +10.6%)
FTSE 100	9,217	-0.4% (YTD: +12.8%)
Euro Stoxx 50	5,397	+0.1% (YTD: +10.2%)
Brent crude	USD 68.12	-0.7%
Natural gas (Nymex)	USD 2.99	+1.7%
Gold	USD 3,471.30	-0.1%
BTC	USD 111,953	+0.7% (YTD: +18.5%)
Chimera JP Morgan UAE Bond UCITS ETF	AED 3.52	-0.9% (YTD: +1.1%)
S&P MENA Bond & Sukuk	148.64	+0.2% (YTD: +6.2%)
VIX (Volatility Index)	14.43	-2.8% (YTD: -16.8%)

THE CLOSING BELL-

The ADX fell 0.6% yesterday on turnover of AED 904.2 mn. The index is up 7.4% YTD.

In the green: Umm Al Qaiwain General Investment (+3.4%), Adnoc L&S (+2.3%) and Gulf Financial Holding (+1.4%).

In the red: E7 (-9.8%), Rapco Investment (-8.4%) and Abu Dhabi National Takaful (-5.3%).

Over on the DFM, the index fell 0.7% on turnover of AED 431.2 mn. Meanwhile, Nasdaq Dubai was down 1.1%.

My Morning Routine: Nina Alag Suri, founder and CEO of X0PA AI

Nina Alag Suri, founder and CEO of X0PA AI: Each week, My Morning Routine looks at how a successful member of the community starts their day — and then throws in a couple of random business questions just for fun. Speaking to us this week is Nina Alag Suri (LinkedIn), founder and CEO of X0PA AI. Edited excerpts from our conversation:

I founded X0PA AI back in 2017 as my second venture. We're headquartered in Singapore.

Prior to that, I ran my previous company, which was an HR consulting firm, for 16 years. I had founded it back in 1999 when I was in my late 20s. I started in India, expanded it to Europe, the UK, US, Canada, and then eventually moved the headquarters to Singapore.

I come from an engineering background, so I felt that there was a great window for us to pivot to a tech platform and to use artificial intelligence to improve companies’ abilities to hire and retain their employees, and make the process not only efficient and automated, but also intelligent.

We've been very successful in Singapore. Our focus on ethical AI and removing bias from the hiring process has resonated very well with large enterprise clients, as well as with a lot of government agencies. We also help with internship matching and college admissions, so the use cases are going beyond just hiring. We help achieve an 85% reduction in screening time, and companies have reported more than 50% in cost savings.

As far as the UAE is concerned, there's been so much focus by the government on digital adoption, and there is a general hunger for AI and automation, so we felt that this was a prime market for us to set up our regional headquarters. There’s also a lot of synergies with the other markets that we are in: Singapore, Indonesia, and India — we call it the golden triangle.

None of our algorithms use anything of personal nature. There is no gender, school, ethnicity, or age — it is a purely skill-based platform. The reason why we have a patent for our AI is because it also looks at complementary skills, so for example, if somebody wants to hire a data scientist with 20 years of experience, that’s a challenge because that title did not really exist, so what our AI does is it looks at complementary skills, like if you have a statistics or modeling background.

It really helps open up the talent pool to include people who may previously be overlooked with a cookie-cutter approach to hiring, and that starts from the employer’s mindset and extends all the way to the data we use and to constant reinforcement and algorithm testing to make sure that no biases are creeping in.

We were the first company in HR tech to receive AI Verify status, which adheres to 11 principles like maintaining quality and constant monitoring of data, as well as keeping the human in the loop so that the machine is not taking decisions on behalf of humans. Another important thing when it comes to ethical AI is transparency, meaning your AI is able to explain why the algorithm is making a specific judgment and can explain why it is doing what it is doing in a transparent way so that there is no room for ambiguity.

My morning routine starts early because I work with the Singapore office, and that’s ahead four hours. I get up around 6am, and the first thing I do is play with my dogs, which kicks off the day with a lot of positive energy. Then I usually jump right into it.

The one thing that I always do before I end my day is I plan for the next one. Otherwise, going in to start work at 6:30am without a plan would be a bit overwhelming. I make sure calls and meetings for the Singapore office are planned out for the first portion of the day, and I take a mid-morning break and then my work for the UAE begins. I usually take all my meetings and calls with investors and clients here for the afternoon.

Walking and swimming are really important for me; without them, the stress just builds up a lot. Usually in the afternoon once the weather has cooled down, I go for a swim or my husband and I go to a mall for a walk to get out 7-10k steps in. I also tend to take a lot of staycations on the weekend to decompress and be ready for a new week.

I enjoy podcasts when I’m driving or walking, mostly boring ones about startups and artificial intelligence. Everything I listen to is about new technologies and the latest in agentic AI. I am also a massive movie buff so if there's a good movie out there, I love going to the cinema to see it.

In terms of my goals, I took the plunge without hiring a team here because I really wanted to understand the culture first and how to do business here from a grassroots perspective so that with my experience, I can then guide my team as opposed to just hiring a team and not really being cognizant of how the market works.

I am being very hands on at the moment, and I hope I can continue to meet clients and broaden my network until the end of the year so that I'm ready to start building a really strong team. On a personal level, Dubai has such good connections, so I do really want to see the region and explore more.

One thing that has stuck with me throughout my career was something my first boss used to say, which is: I will never ask you to do something I can't do. I think it’s really important to not have unrealistic expectations for your team, and to practice what you preach. Secondly, keep a very strong eye on fiscal health, and pay attention not just to your topline but also your bottom line.

CALENDAR

SEPTEMBER

30 August-7 September (Saturday-Sunday): Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX 2025), ADNEC Center, Abu Dhabi

1-6 September (Monday-Saturday): Dubai Fashion Week, Dubai Design District.

7 September (Sunday) Opec+ meet to discuss production policy for October.

9 September (Tuesday): Envision 2025, Atlantis, The Royal, Dubai.

8-10 September (Monday-Wednesday): DigiHealth exhibition, World Trade Center, Dubai.

8-10 September (Monday-Wednesday): WHX-Tech Expo, Dubai World Trade Center.

8-19 September (Monday-Friday): Universal Postal Congress, Dubai World Trade Center.

8-18 September (Monday-Thursday): BHM Capital Financial Services’s AED 200 mn rights issue will be open for subscriptions.

10-11 September (Wednesday-Thursday): MENA Public-Private Partnership Forum, Dubai.

10-11 September (Wednesday-Thursday): Annual International Government Communication Forum, Expo Center Sharjah.

10-20 September (Wednesday-Saturday): IFMA Youth World Muay Thai Championship, Abu Dhabi.

12-14 September (Friday-Sunday): The International Real Estate and Investment Show, Abu Dhabi.

17-18 September (Wednesday-Thursday): SHRM MENA hosts its Annual Conference + Expo, Madinat Jumeirah, Dubai.

16-17 September (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

23-24 September (Tuesday-Wednesday): MENA EV Show, The Agenda, Dubai Media City.

24-25 September (Wednesday-Thursday): The KT UniExpo, The H Dubai.

24-25 September (Wednesday-Thursday): Mohammed Bin Rashid Leadership Forum, Mohammed Bin Rashid Center for Leadership Development, Dubai.

24-25 September (Wednesday-Thursday): Dubai World Congress for Self-Driving Transport, Dubai.

25-27 September (Thursday-Saturday): International Congress of Medical Excellence in Dermatology and Aesthetic Med, Dubai World Trade Center.

30 September (Tuesday): Africa Debate Conference, Dubai.

30 September (Tuesday): Dubai Podfest, Dubai.

OCTOBER

1-2 October (Thursday-Friday): World Green Economy Summit (WGES), Dubai World Trade Center.

30 September-1 October (Tuesday-Wednesday): MENA Investment Congress (MENA ICON), Abu Dhabi.

30 September-2 October (Tuesday-Thursday): The Water, Energy, Technology, and Environment Exhibition (WETEX), Dubai World Trade Center.

3-16 October (Friday-Thursday): Dubai Home Festival.

7 October (Tuesday): Enterprise Egypt Forum 2025.

7-9 October (Tuesday-Thursday): The International Symposium on the System of Radiological Protection, the Ritz-Carlton Abu Dhabi, Grand Canal.

9 October (Thursday): Family Office Summit, Park Hyatt, Dubai.

9-15 October (Thursday-Wednesday): IUCN World Conservation Congress, Abu Dhabi.

12-15 October (Sunday-Wednesday): Expand North Star, Dubai Harbor.

14-16 October (Tuesday-Thursday): Global Future Councils, Dubai.

15-18 October (Wednesday-Saturday): Middle East Electric Vehicle Show, Expo Center Sharjah.

20 October (Monday): Reuters NEXT Gulf Summit, The St. Regis Saadiyat Island Resort, Abu Dhabi.

22-24 October (Wednesday-Friday): World Investment Conference, Expo Center Sharjah.

27 October (Monday): The UAE Africa Tourism Investment Summit, Dubai.

27-29 October (Monday-Wednesday): Future Hospitality Summit, Madinat Jumeirah, Dubai.

27-29 October (Monday-Wednesday): Asia Pacific Cities Summit, Dubai Exhibition Center.

28-29 October (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

NOVEMBER

1-2 November (Saturday-Sunday): Women's Empowerment Convention (WE Convention), Atlantis The Royal, Dubai.

4-9 November (Tuesday-Saturday):Dubai Design Week, Dubai.

10-15 November (Monday-Saturday): SASC organizes Abu Dhabi Autonomous Week, Abu Dhabi.

11-17 November (Tuesday-Monday): International Council of Museums (ICOM) General Conference, Dubai

12 November (Wednesday): Dubai Business Forum, Cipriani South Street, New York City.

12-17 November (Wednesday-Monday): RoboCup Asia-Pacific, Khalifa University, Abu Dhabi.

13-15 November (Thursday-Saturday): International Financial Markets (ICA) Conference and Exhibition, Conrad Dubai.

15-17 November (Saturday-Monday): Myplant & Garden Middle East Green Expo, Dubai Exhibition Center, Expo City.

17-21 November (Monday-Friday): Dubai Airshow, Al Maktoum International Airport, Dubai.

18-19 November (Tuesday-Wednesday): Dubai Future Forum, Museum of the Future, Dubai.

DECEMBER

1-3 December (Monday-Wednesday): Eid Al Etihad (UAE National Day).

2-5 December (Tuesday-Friday): Sotheby’s Abu Dhabi Collectors’ Week, Abu Dhabi

1-5 December (Monday-Friday): The World Congress of Neurosurgery, Dubai World Trade Center.

7-14 December (Sunday-Sunday): Asian Youth Para Games, APC headquarters, Dubai.

8 December (Monday): DeFi Technologies Insights Global Symposium, Emirates Palace, Abu Dhabi.

8-9 December (Monday-Tuesday): BTC Mena Conference, Adnec, Abu Dhabi.

8-9 December (Monday-Tuesday): Global AI Show 2025, Abu Dhabi.

8-10 December (Monday-Wednesday): Bridge media summit, Abu Dhabi.

8-11 December (Monday-Thursday): Abu Dhabi Finance Week, Al Maryah Island.

9-10 December (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

18-23 December (Thursday-Tuesday): Games of the Future, Adnec, Abu Dhabi.

29-30 December (Monday-Tuesday): World Sports Summit, Dubai.

Signposted to happen sometime in 2025:

e& will complete Adnoc’s private 5G network.
Executive Committee Meeting (EXCOM 2025) conference of the World Smart Sustainable Cities Organisation (WeGO)

Signposted to happen sometime in 2H 2025:

Closing of XRG's acquisition of Covestro

JANUARY 2026

1 January: Client asset regime changes in Dubai International Financial Center take effect.

9-11 January (Friday-Sunday): 1 Bn Followers Summit, UAE.

28-29 January (Wednesday-Thursday): IBA Arbitration Day Conference, Abu Dhabi.

28-30 January (Wednesday-Friday): World Customs Organization Technology Conference, Adnec Center, Abu Dhabi.

FEBRUARY 2026

3-5 February (Tuesday-Thursday): The World Governments Summit.

12-15 February (Thursday-Sunday): The Society for Incentive Travel Excellence Global Conference, Abu Dhabi.

9-13 February (Monday-Friday): The World Health Expo (WHX), Dubai.

Signposted to happen in 2026:

31 March - 2 April (Tuesday-Thursday): Arab Media Summit, Dubai.
13-15 April ( Monday-Wednesday) : The International Glass Manufacturing Show, Dubai.
14-16 April: (Tuesday-Thursday): the International Property Show, Sheikh Zayed Rd, Dubai.
11-13 May (Monday-Wednesday): AI Everything Global, Adnec Center.
The UAE to host the Arab Competition Forum
Dubai to host the Arab Actuarial Conference
United Nations Water Conference
Dubai Future Finance Week
Investopia Global Talks, Tashkent

Signposted to happen sometime in October 2026:

Abu Dhabi Space Week, Abu Dhabi.

Signposted to happen sometime in 2027:

1Q 2027: Completion of the first phase of Hassyan seawater desalination project.
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 between 2027 and 2029:

Sibos 2029 organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), Dubai.
The commissioning of the seventh phase of Mohammed bin Rashid Al Maktoum Solar Park.

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