DP World’s port in Congo gets a boost from BII

1

WHAT WE’RE TRACKING TODAY

THIS MORNING: India to review trade agreement with the UAE to revisit duties and rules of origin + ESG summit kicks off in Dubai

Good morning, wonderful people. It’s grown very quiet on the news front, as would be expected from a typical August morning.

We have news of DP World’s port in Congo getting a boost of support from the British government’s finance arm, British International Investment, as well as several good news on the startup front, including a raft of new startups launching in the UAE and a rebound in venture capital investments in the UAE in 2Q 2024. We have more in the news well, below.

We’re in for a cloudy week: The National Center of Meteorology forecasts this week’s weather to be partly cloudy in southern and eastern areas, with a chance of light rainfall and blowing dust until Wednesday. Temperatures today will hit 41°C in Dubai, with an overnight low of 34°C, and 38°C in Abu Dhabi, before cooling to an overnight low of 35°C.

WATCH THIS SPACE-

#1- India has reportedly requested a review meeting with the UAE to discuss key provisions of their trade pact, namely, issues related to rules of origin and concessional rates, Indian Commerce Secretary Sunil Barthwal was quoted as saying by news outlets (here and here). The meeting will aim to review their agreements on value add policies and custom duties, Barthwal said.

In context: The review request came on the heels of a sharp rise in Indian imports of gold and silver from the UAE under the agreement. The Global Trade Research Initiative (Gtri) has voiced concerns about India incurring huge revenue losses on the back of its commitment to apply zero tariffs on unlimited quantities of silver imports from the UAE within the coming eight years, it said in a report (pdf) published earlier this year. The agreement will also see them reduce duties on gold to zero in three years provided the imports contain at least 2% aluminum, according to the outlets.

What Gtri said: “The current import of gold and silver from UAE is unsustainable as UAE does not mine gold or silver or add sufficient value add on imports. The trade will shift to any country which gets bigger tariff concessions from India,” the report read.

REMEMBER- India terminated its duty-free imports of silver and platinum from the UAE last month, following a reduction in import duties on gold and silver from 15% to 6%, lower than the 8% tax under the economic agreement with the UAE.

By the numbers: The UAE accounts for nearly half of India’s silver imports, as importers made use of the lower 8% tax, with shipments surging from 133 tonnes to almost 2k tonnes over the first five months of 2024.

#2- Mubadala-backed Spanish oil company Cespa agreed to sell its liquefied gas unit Gasib to a subsidiary of Chile’s Empresas Copec for EUR 275 mn, according to statements (here and here) from the companies. The transaction is part of Cepsa’s 2030 green strategy, which will see the company shift towards sustainable energy by investing around EUR 8 bn in green hydrogen and biofuel for heavy transportation and industries such as trucking, shipping, and airlines.

Background: The company also recently offloaded its upstream operations in Peru, as well as assets in Colombia and Abu Dhabi, according to Reuters.

#3- Abu Dhabi taps airport operator for advanced air transport infrastructure: Abu Dhabi Airports expanded its partnership with Parisian airport operator Aéroports de Paris Group to develop ground infrastructure for advanced air transport applications in Abu Dhabi, according to a statement. The two parties previously inked an agreement at the Abu Dhabi Air Expo 2022, aimed at developing and implementing joint development plans in the aviation sector.

#4- Australia’s Aspen eyes investing in Abu Dhabi’s rural areas: Australian healthcare provider Aspen Medical plans to allocate more investments in Abu Dhabi’s rural areas to expand the coverage of its services with the help of the emirate’s health department, Al Bayan reported. Aspen has already built six clinics in remote locations, with plans to launch 13 more.

HAPPENING TODAY-

#1- The World ESG Summit is kicking off today and running until tomorrow at Dusit Thani in Dubai. The two-day business conference will gather public and private sector players from key sectors like energy, utilities finance, and manufacturing to explore ESG integration across all industries.

#2- The Dubai Chambers will host the Dubai Business Forum in Beijing, China between tomorrow and Thursday. The event will gather over 50 Dubai-based companies and 350 Chinese firms to explore potential investments in sectors like green tech, AI, healthcare, and renewable energy, president and CEO of Dubai Chambers Mohammad Ali Rashed Lootah told the National.

#3- Rex Fuels will host the Global Bitumen, Petrochemicals & Petroproducts Conference at the JW Marriott Marquis Hotel in Dubai tomorrow and Thursday. The conference will bring together bitumen and petroleum producers, suppliers, and traders, to network and discuss trends and challenges in the industry.

HAPPENING THIS WEEK-

#1- Sudan’s government said it will send a delegation to Cairo yesterday for talks with US and Egyptian officials, after refusing to attend talks held in Switzerland, Sudan’s Transitional Sovereign Council said. The Sudanese delegation agreed to attend the talks aimed at ending the 16-month war after the Egyptian government and the US envoy to Sudan, Tom Perriello, affirmed that the purpose of the meeting will be to discuss implementing the Jeddah agreement, which obliges the RSF to withdraw from civilian areas in Khartoum.

Meanwhile, talks in Switzerland are set to continue until at least the end of the week, Bloomberg reports.

Background: The UAE was set to attend the talks last week as an observer alongside Egypt, the UN, and the African Union, with Saudi Arabia and Switzerland acting as hosts.

DATA POINTS-

#1- Dubai World Trade Centre Authority’s freezone tenants increased 21% y-o-y to over 2.7k during 1H 2024, Wam reports. The freezone also saw the number of registered companies increase 19% y-o-y to 2.8k in 1H 2024. The freezone expanded its jurisdiction to include the newly developed One Za’abeel during the period.

#2- DP World and Abu Dhabi Ports invested over AED 6.09 bn in global trade infrastructure in 1H 2024, ِ Al Khaleej reports. Abu Dhabi Ports has invested AED 2.45 bn, while DP World’s spending reached AED 3.64 bn, across ports, logistics, and maritime operations.

DP World plans to invest nearly AED 7.4 bn in 2024, with most investments going towards its operations in the UAE, along with planned investments at multiple international locations including the UK, India, Senegal, and Canada.

#3- The number of medical tourists in Dubai rose to 691k in 2023, on the back of health system improvements, advanced technology, and competitive pricing, according to the Dubai Media Office. Medical tourists spent a collective AED 1.03 bn on healthcare services in the emirate during the year, marking a 3% y-o-y increase, with dentistry being the most sought-after speciality, demanded by 29% of health tourists, followed by dermatology (27%) and gynecology (13%).

By region: Some 33% of the tourists came from Asia, while 28% traveled from Arab and GCC countries, and 23% came from Europe and CIS countries.

#4- The UAE got one new locally incorporated bank, a GCC wholesale bank, and 15% more ATMs y-o-y — bringing the total to nearly 4.7k — in 1Q 2024, Wam reports, citing data from the Central Bank. No new electronic banking service units, cash offices, were added during the period.

As of 1Q 2024, the Central Bank has licensed 11 wholesale banks, 72 representative offices, 17 finance companies, and 77 money changers.

THE BIG STORY ABROAD-

The Democratic National Convention is front and center across the front pages of the international press this morning, as US President Joe Biden passes the torch to his vice president and Democratic presidential candidate Kamala Harris.

Among those making appearances at the DNC in Chicago: Biden took to the stage to hand off the convention to Harris and her running mate Tim Walz, while a host of other Senate and Congress members, and other political figures also had time on stage. Former presidential candidate Hillary Clinton is also in today’s lineup, while each night of the convention is scheduled to feature a celebrity host. Harris herself also made a surprise on-stage appearance, despite not originally being scheduled to speak today.

Harris is starting to give shape to her vision as president, starting with plans to raise the corporate tax rate to 28%, partially rolling back a Trump-era decision to slash the tax rate to 21% from 35%. The tax hike would, if implemented, raise USD hundreds of bns that will be necessary to help finance the presidential hopeful’s plans in office. (Reuters | Bloomberg | Financial Times | CNBC | Politico | Wall Street Journal | Washington Post | New York Times)

MEANWHILE- Israeli Prime Minister Benjamin Netanyahu has accepted a “bridge proposal” for a ceasefire in Israel’s war on Gaza, US Secretary of State Antony Blinken told reporters yesterday, according to a readout of his remarks. Blinken urged Hamas to accept the proposal, citing “fierce urgency” to reach an agreement between the two sides to prevent further bloodshed and destruction. (Reuters | New York Times | Financial Times | Bloomberg)

Blinken is heading to Cairo next, where he is expected to land today to discuss next steps on the ceasefire talks between Israel and Hamas. Blinken will fly from Israel as part of a four-day trip that marks his ninth visit to the region since Israel’s war on Gaza began.

REMEMBER-Senior government officials from Egypt, Qatar, and the US are set to reconvene in Cairo before the end of the week in a bid to finalize an agreement based on the proposal presented in Doha last week.

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CIRCLE YOUR CALENDAR-

The World Schools Festival will take place in Abu Dhabi from 14-21 December. Hosted by Abu Dhabi’s Department of Culture and Tourism and the Abu Dhabi Cricket and Sports Hub, the week-long event will feature rugby, cricket, hockey, and netball, bringing together over 1k athletes from around the world.

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

DP World + UK to break ground on Congo’s fist deep-sea container port

DP World to build Congo’s first deep-sea container port: The British government’s development finance arm British International Investment (BII) is investing some USD 35 mn for the first phase of DP World’s deep-sea container port in Democratic Republic of Congo’s, according to a press release by BII yesterday. BII will be a minority investor in the port.

This has been in the works: DP World inked a collaboration agreement with the Congolese government in December 2021 to develop the Banana Port, which is set to boost the second-largest African country’s access to international markets and global supply chains. The port — the construction on which kicked off in 2022 — is expected to cut the cost of trade in Congo by 12% and create up to 85k jobs. The project also looks to line up c. USD 1.12 bn in additional trade and USD 429 mn in increased economic output annually.

What they said: “This investment from BII will help transform DRC’s economy, establishing the country as a major trading hub on the continent, and providing a significant boost to local sectors from infrastructure, logistics and green energy,” UK Minister for Africa Lord Collins of Highbury was quoted as saying in the BII statement.

An expanding partnership: This agreement is the latest joint effort between BII and DP World, who have worked to modernize and expand ports in Dakar, Senegal, Sokhna, Egypt, and Berbera, Somaliland.

All under one big ambitious plan by DP World for Africa: DP World said earlier this year that it plans to shell out USD 3 bn on new port infrastructure in Africa over the next three to five years. The logistics giant is considering investments in the partial privatization of South African rail, port, and pipeline company Transnet, and the port of Lamu in Kenya, where there is also a privatization process underway. DP World broke ground on a new 18k ton edible oil terminal at Berbera Port last year, which will allow Berbera to service 16 meter draught ships and handle shipments of bulk edible oil.

More startups + a VC set up shop in the UAE

Atlys, Offline, and RB Ventures debut in the UAE: US-based visa platform Atlys aims to streamline travel processes, Indian startup Offline enters its first offshore market, and RB Ventures, a new insurance-focused VC firm, sets up shop in Dubai.

#1- US-based online visa application platform Atlys launched in the UAE, seeking to streamline visa issuing procedures for the tourist bustling country, the company said in a statement picked up by Zawya.

What they said: “With 92% of the UAE’s population consisting of expatriates, many of whom face visa challenges when traveling, the UAE provides the perfect environment for Atlys’s innovative solution,” the statement read.

#2- Offline sets up shop in the UAE: Indian startup Offline, a private members community for tech founders and CEOs, launched its platform in the UAE, tapping its first offshore market outside of India, according to a statement picked up by Zawya. The company seeks to capitalize on the UAE’s booming tech sector.

About Offline: Founded last year by Utsav Somani (LinkedIn), Offline is a paid networking platform that seeks to bring together startup founders into a shared space, with access to closed-door meetings, social experiences, talks by speakers, brand perks, masterclasses, and a 24/7 digital community. Founders must have raised USD 5 mn, generated USD 5 mn in annual recurring revenue, or have their business valued at USD 50 mn to be eligible for enrollment. It aims to grow its membership to 150 by the end of 2024.

#3- Dubai gets a new ins.-focused VC firm: Rohit Boda (LinkedIn), managing director of India-based ins. broker JB Boda Group, set up a new venture capital firm in Dubai called RB Ventures, ReIns. News reported. The company will focus on sectors like ins., reins., and insurtech, among others.

UAE venture capital investments rebound in 2Q 2024

Venture capital investments in the UAE jumped 113% y-o-y in 2Q 2024, according to Magnitt’s 1H 2024 MENA Investor Ranking (pdf). The surge was led by six major transactions that constituted 60% of the quarter’s total funding. Despite a 31% drop in transaction volumes, the UAE saw an 11% y-o-y increase in transactions, outpacing the other top five MENA countries.

The UAE led the 75% rise in foreign investments in the MENA’s startup ecosystem with a 2.4x y-o-y increase in international venture capital investors in 1H 2024, according to a separate summary of the report. MENA was the only region among emerging venture markets to see investor number growth during the period.

The UAE and Saudi accounted for 68% of MENA-based venture investors in 1H 2024, contributing to 8% y-o-y growth in the number of local investors in the region. Three UAE investors were among the top 10 leading investors in the region by transaction count. Plus VC was the most active Emirati investor, landing the spot of fourth most active investor regionally with six early stage investments; followed by AngelSpark with five, and Dubai Future District Fund with four investments.

Shifts in regional investor composition: VC investments continue to dominate the regional startup ecosystem, comprising 53% of the investor base in 1H 2024, up from 47% in 2022, suggesting a robust environment for early-stage ventures. Investment companies now make up 19% of all investors in regional startups — up from 10% in 2020 — while the share of corporate investors declined, with that trend possibly creating gaps in funding for late-stage startups. The share of accelerator investments fell to its lowest in a decade at 9% in 1H 2024, down from 15% in 1H 2023, indicating a growing disposition towards direct investment.

Azizi taps Saudi’s Bahra Electric to power Dubai developments

REAL ESTATE-

#1- Saudi’s Bahra electric to power Azizi’s Dubai developments: Dubai-based Azizi Developments has partnered with Saudi electrical manufacturer Bahra Electric to supply electrical products for its projects in Dubai South, MBR City, Dubai Studio City, Al Furjan, Dubai Sports City, and Dubai Healthcare City, according to a statement

#2- Emirates NBD’s REIT plans to rebalance its portfolio: Shariah-compliant real estate investment trust ENBD REIT, which is managed by Emirates NBD Asset Management, is planning to rebalance its portfolio by adding residential, retail, or education assets, the trust’s CEO Samir Kazi told Zawya. The trust’s current portfolio has 60% in office assets.

ICYMI- ENBD REIT finalized the sale of its two Remraam residential towers in Dubailand last week, which accounted for 4% of its portfolio, to bring its debt down.

CRYPTO-

#1- FEG launches new platform for easy crypto tokens generation: Decentralized finance project Feed Every Gorilla (FEG) launched a new platform in the UAE that allows crypto investors to generate cryptocurrency tokens without the need for specialized developers, according to a statement picked up by Zawya.

#2- Rakbank customers will soon have a digital asset management platform: The National Bank of Ras Al Khaimah (Rakbank) has partnered with investment and custody platform Bitpanda Technology Solutions to launch a digital asset management platform for the bank’s customers, according to a statement picked up by Zawya.

ENVIRONMENT-

Abu Dhabi’s Environment Agency and the UK’s Dendra launch habitat assessment program: Abu Dhabi’s Environment Agency (EAD) launched a terrestrial habitat assessment research program in partnership with the UK’s environmental tech firm Dendra Systems to study the condition of native plants in both protected and unprotected areas, according to an Abu Dhabi Media Office statement. This program allows EAD to track changes in the variety and spread of local plants, especially those affected by human activities.

Progress so far: The program’s initial phase saw 11k hectares covered in over six months, using AI technology and drones, and analyzing field data via a smart database. The program also includes a drone-based seed dispersal operation to support natural regeneration.

ENERGY-

Dewa issues tender for 2.5 MW electrolyser project: Dubai Electricity and Water Authority (Dewa) has issued a tender for the design, supply, installation, and commissioning of a 2.5 MW alkaline electrolyser project in efforts to increase its hydrogen production capacity, according to a notice (pdf) published on the authority’s website. The deadline for tender submissions is 18 September, but the project’s timeline and investment ticket were not provided.

MOBILITY-

India’s all-electric ride-hailing startup BluSmart plans to boost its fleet in the UAE to 150 EVs and 225 drivers by the end of the year, up from 30 EVs and 60 drivers currently, the company’s co-founder Anmol Singh Jaggi told the National. BluSmart has placed an order for 70 EVs, slated for delivery in October, Jaggi said. The company also targets growing its local market share to 10-15% over the next three years, Jaggi added.

Remember- BluSmart plans to launch its services in Abu Dhabi, before tapping the Saudi market all within the next 12 months, Jaggi said. BluSmart officially launched in Dubai in June.

SUSTAINABILITY-

BeZero Carbon to offer carbon credit ratings for Emirates NBD clients: Emirates NBD partnered will work with UK-based carbon rating agency BeZero Carbon to conduct due diligence on projects for clients looking to offset their emissions, according to a statement. The bank will collect the science-based risk assessments of global carbon projects — including voluntary carbon credits markets — to provide a better picture to clients seeking to invest in green projects.

FINTECH-

#1- PayBy’s POS devices are in town: Astra Tech ’s e-payment subsidiary PayBy launched its own POS devices, with built-in features to generate direct payment links and QR codes, in the UAE, according to a statement picked up by Zawya. The move allows merchants to manage online and offline transactions on a single platform, instead of operating multiple payment systems, the company explained.

INS.-

Rakez launches new ins. program for its companies: Employees of companies registered at the Ras Al Khaimah Economic Zone (Rakez) will now benefit from a new ins. program provided by RakIns., according to a statement. A recent agreement between the zone and RakIns. will offer employees ins. coverage for unpaid salaries, end-of-service gratuity, repatriation costs, and work-related injuries, replacing a previous requirement of visa deposits.

SPACE-

Abu Dhabi discovers a new asteroid: The International Astronomical Center in Abu Dhabi discovered a new asteroid located in the Solar System’s asteroid belt, Wam reports. The discovery of the temporarily-dubbed 2022 UY56 asteroid was made at the Haleakala Observatory under a NASA-supported program involving Hardin-Simmons University, the Pan-STARRS telescope, and the Catalina Sky Survey project.

TRADE-

It’s a wrap for Dubai Multi Commodities Center’s US roadshow: The Dubai Multi Commodities Centre wrapped up its Made for Trade Live roadshow in the US cities of San Francisco and Denver, which focused on boosting US-UAE trade ties, the Dubai Media Office stated. The roadshow featured three events in partnership with Airtifae, San Francisco Chamber of Commerce, Bay Area Council, and key Denver economic bodies.

ALSO ON OUR RADAR Atlys BeZero Carbon Bitpanda BluSmart carbon credits CRYPTO digital assets Dubai Multi Commodities Center Emirates NBD ENBD REIT environment Environment Agency of Abu Dhabi EVs F&B fintech insurance International Astronomical Center Mobility National Bank of Ras Al Khaimah PayBy RakezIns. Ras Al Khaimah Economic Zone space sustainability tourism US

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PLANET FINANCE

Startups are increasingly going bust as funding dries up

There’s trouble in startup land: US startup failures are on the rise two years after bearing the fruit of the tech boom, with the number of startups failing increasing nearly 60% this year already as founders find themselves running out of funds, capitalization table manager and valuation startup Carta detailed in a blog post.

By the numbers: Some 254 of Carta’s venture-backed clients went out of business during the first quarter of the year, marking the “highest quarterly total so far this decade.” The figure has been on the rise for years now — the number of startups closing their doors rose 58% y-o-y during 1Q 2024 and 124% y-o-y during 1Q 2023.

Most recently, fintech firm Tally announced that it will be shutting its doors after nine years in business after it was “unable to secure the necessary funding to continue operations.” The company had a valuation of USD 855 mn just two years prior.

The trigger: Between boom year 2022 and now, startups were faced with rising interest rates, dwindling VC sentiment, and the aftermath of the collapse of Silicon Valley Bank. The difficult reality facing many startups now comes in stark contrast to just a few years back, when “an abnormally high number of companies raised an abnormally large amount of money during 2021-2022,” Morgan Stanley analysts wrote in a note seen by the Financial Times.

As things stand: There’s been a huge drop in the amount of companies able to raise funds within two years of their last funding round, Peter Walker, head of insights at Carta, told the salmon-colored paper. Startups are now resorting to cutting costs to stay afloat, a move that puts growth on the backburner and in turn puts off VCs from lending their financial backing.

The collapse will echo far beyond startup land: The failure of startups will create “spillover risks to the rest of the economy,” Morgan Stanley said, pointing to the 4 mn people employed by VC-backed companies.

ALSO FROM PLANET FINANCE- Turkey’s Monetary Policy Committee is expected to leave the one-week repo rate at 50% when it meets later today, according to Bloomberg. The committee has held rates steady for four months running now. Turkish officials noted that monetary policy needs to remain tight to tackle inflation, which currently sits at 62%.

THE MARKETS THIS MORNING-

Asian markets are mostly in the green in early trading this morning in the wake of a rally in Western markets yesterday. Japan’s Nikkei is up 1.6% and Korea’s Kospi is up 0.8% at the time of writing, while China’s Hang Seng is down 0.3%.

ADX	9,305	+0.2% (YTD: -2.9%)
DFM	4,238	-0.1% (YTD: +4.4%)
Nasdaq Dubai UAE20	3709	-0.2% (YTD: -3.5%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	5.1% o/n	4.6% 1 yr
TASI	12,023	+0.4% (YTD: +0.5%)
EGX30	29,321	-0.5% (YTD: +17.8%)
S&P 500	5,608	+1.0% (YTD: +18.3%)
FTSE 100	8,357	+0.6% (YTD: +8.1%)
Euro Stoxx 50	4,871	+0.6% (YTD: +7.7%)
Brent crude	USD 77.80	-2.4%
Natural gas (Nymex)	USD 2.24	+5.3%
Gold	USD 2,541.30	+0.1%
BTC	USD 59,112.80	-1.2% (YTD: +39.8%)

THE CLOSING BELL-

The ADX rose 0.2% yesterday on turnover of AED 1.69 bn. The index is down -2.9% YTD.

In the green: Abu Dhabi National Takaful Co. (+14.9%), Aram Group (+14.1%) and Al Khaleej Investment (+11.1%).

In the red: E7 Group Warrants (-3.2%), Adnoc Drilling Company (-2.8%) and Abu Dhabi National Energy Company (-2.6%).

Over on the DFM, the index fell 0.1% on turnover of 167.4 mn. Meanwhile, Nasdaq Dubai fell -3.5%.

CORPORATE ACTIONS-

ADX-listed Finance House bought back over 1.7 mn of its own shares from the open market, for a total price of AED 3.1 mn, according to an ADX disclosure (pdf). This buyback represents 10% of the company’s total shares.

CALENDAR

AUGUST

20-21 August (Tuesday-Wednesday): The World ESG Summit, Dubai.

21-22 August (Wednesday-Thursday): Rex Fuels Global Expo & Conference 2024- Bitumen, Petrochemicals & Products, Dubai.

21-22 August (Wednesday-Thursday): Dubai Business Forum in Beijing, China.

25 August (Sunday): Deadline to register for the AI Challenge.

27 August (Tuesday): New regulations on telemarketing calls will go into effect.

SEPTEMBER

4-5 September (Wednesday-Thursday): 2024 International Government Communication Forum, Expo Centre Sharjah, Sharjah.

5 September (Thursday): Deadline to apply for the sixth edition of Access Sharjah Challenge.

5 September (Thursday): Deadline to apply for Dubai Future Academy’s FEEL: A Disruptive Futures Program.

9-12 September (Monday-Thursday): The annual EFG Hermes London Conference.

10-11 September (Tuesday-Wednesday): MENA PPP forum, Jumeirah Emirates Towers, Dubai.

16-18 September (Monday-Wednesday): World Utilities Congress, Abu Dhabi.

17-18 September (Tuesday-Wednesday): AI in oil and gas conference, Abu Dhabi.

15-19 September (Sunday-Thursday): Loop Beyond Borders, Abu Dhabi.

23-25 September (Monday-Wednesday): WorldFreezonesOrganization’s Annual International Conference and Exhibition, Dubai.

24-26 September (Tuesday-Thursday): Careers UAE 2024, Dubai World Trade Centre, Dubai.

25-26 September (Wednesday-Thursday): Green Steel Summit, Dubai, UAE.

25-26 September (Wednesday-Thursday): Global Aerospace Summit, Abu Dhabi, UAE.

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

30 September (Monday): Dubai Podfest, World Trade Center, Dubai.

OCTOBER

1-3 October (Tuesday-Thursday): Water, Energy and Environment Technology Exhibition, Dubai.

2-3 October (Wednesday-Thursday): The World Green Economy Summit, World Trade Center Dubai.

2-3 October (Wednesday-Thursday): MENA District Cooling Projects & MENA Cool Forum, Grand Hyatt Dubai, Dubai Healthcare City, Dubai.

7-8 October (Monday-Tuesday): Forex expo, World Trade Center, Dubai.

8-9 October (Tuesday-Wednesday)): Global Trade and Supply Chain Summit, Dubai.

8-10 October (Tuesday-Thursday): The Global Rail Transport Infrastructure Exhibition and Conference(Global Rail), Abu Dhabi.

14-18 October (Monday-Friday): Gitex Global, Dubai World Trade Centre and Dubai Harbour.

14-18 October (Monday-Friday): IEEE/RSJ International Conference on Intelligent Robots and Systems, Adnec Centre, Abu Dhabi.

14 October (Monday): The Smart Cities MENA Summit, Dubai.

15 October (Tuesday): Deadline for the European Commission to make a decision on its probe into e&’s acquisition of PPF’s Eastern European assets.

21-22 October (Monday-Tuesday): Port Development MEA Forum, Dubai.

21-22 October (Monday-Tuesday): Roads, Bridges, Tunnels MENA Conference, Dubai.

21-22 October (Monday-Tuesday): The Alternative Investment Summit, Dubai.

24-27 October (Thursday-Sunday): International Sports Medicine Conference, Dubai.

26 October (Saturday): UFC 308: TOPURIA vs HOLLOWAY, Etihad Arena, Abu Dhabi.

26-27 October (Saturday-Sunday): International Conference on Tourism, Transport, and Logistics, Dubai.

28-29 October (Monday-Tuesday): MENA Climate Proof Forum, Dubai.

29 October-2 November (Tuesday-Saturday): Abu Dhabi Early Childhood Week, Abu Dhabi.

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

NOVEMBER

3-10 November (Sunday-Sunday): Dubai Premier Padel P1, Dubai Dutyfree Tennis Stadium, Dubai.

4-7 November (Monday-Thursday): Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC), Abu Dhabi.

4-7 November (Monday-Thursday): ADIPEC Maritime and Logistics Exhibition and Conference, Abu Dhabi.

4-7 November (Monday-Thursday): ADIPEC Decarbonisation Accelerator, Abu Dhabi.

6 November (Friday): World Finance Forum, Dubai.

11 November (Monday): Dubai Diamond Conference, Jafza One Convention Centre, Dubai.

11-12 November (Monday-Tuesday): META Cinema Forum, Dubai.

18-20 November (Monday-Wednesday): Fastmarkets Middle East Iron & Steel 2024, Dubai.

19-20 November (Tuesday-Wednesday): Dubai Future Forum.

20-22 November (Wednesday-Friday): Xpanse Abu Dhabi, Adnec Centre, Abu Dhabi

22-23 November (Friday-Saturday): Global Meet on Electronics & Electrical Engineering (GMEEE), Dubai.

23 November (Saturday): Wireless Festival Middle East, Etihad Park, Abu Dhabi.

26-27 November (Tuesday-Wednesday) Global Food Security Summit, Adnec Centre Abu Dhabi.

27-28 November (Wednesday-Thursday): RAK Energy Summit, Al Hamra International Exhibition and Conference Centre, Ras Al Khaimah.

Signposted to happen ahead of ADIPEC:

Changemakers Majlis, Abu Dhabi.

DECEMBER

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

5-8 December (Thursday-Sunday): Formula 1 Etihad Airways Abu Dhabi Grand Prix, Yas Marina Circuit.

8-12 December (Sunday-Thursday): International Desalination and Reuse Association World Congress, Adnec Centre Abu Dhabi.

9-10 December (Monday-Tuesday): The Bitcoin Mena Conference, Adnec Centre Abu Dhabi.

9-12 December (Monday-Tuesday): Abu Dhabi Finance Week, Abu Dhabi.

10-12 December (Tuesday-Thursday): Middle East Investor Relations Association (MEIRA Conference), Conrad Abu Dhabi Etihad Towers Hotel, Abu Dhabi.

10-12 December (Tuesday-Thursday): The Middle East and North Africa Business Aviation Association Show, Al Maktoum International Airport, Dubai.

11-13 December (Wednesday-Friday): European-Arab Medical Congress, Abu Dhabi.

14-21 December (Saturday-Saturday): World Schools Festival, Abu Dhabi

Signposted to happen sometime in December:

UAE-China Summit, Abu Dhabi.

JANUARY 2025

1 January (Wednesday): ADGM to slash licensing fees for retail and non-financial firms, and hike fees for finance firms.

14-16 January (Tuesday-Thursday): World Energy Summit, Abu Dhabi.

FEBRUARY 2025

24-25 February (Monday-Tuesday): 3rd World Passenger Experience Forum, Dubai.

24-26 February (Monday-Wednesday): Connecting Hydrogen MENA, Dubai.

MAY 2025

6-7 May (Tuesday-Wednesday): Global Ports Forum, Dubai.

26-28 May (Monday-Wednesday): Arab Media Summit, World Trade Centre, Dubai.

OCTOBER 2025

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

Signposted to happen sometime before the end of the year:

Spinneys inaugurates three more stores in KSA

Signposted to happen in 2025:

6-11 April (Sunday-Friday): Geo-Spatial Week 2025, Dubai.
3-4 June (Tuesday-Wednesday): Make-A-Wish International’s Global Wish summit, Abu Dhabi.
TBD: The Middle East Electric Vehicle Show, Expo Center Sharjah.
TBD: e& will complete Adnoc’s private 5G network.

Signposted to happen sometime in the fall of 2025:

2025 Games of the Future, Dubai.

Signposted to happen sometime in 2026:

The UAE to host the Arab Competition Forum

Signposted to happen sometime in 2028:

Abu Dhabi to host the Chess Olympiad.

Signposted to happen sometime in 2029:

Dubai to host the International Conference on Computer Vision.

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