Dubai inflation up in November

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Adnoc already in talks with customers to cut oil volumes next year + Emaar to pay 100% of share capital in dividends this year

Good morning, lovely people. It’s officially the second half of the final month of the year, and the busy conference season has made way for a busy festive season, with events across Dubai and Abu Dhabi to mark the holidays.

It’s a relatively quiet day for news in the UAE, but we have November’s inflation figures in Dubai, an acquisition from Tradeling Holding, and updates on Masdar and Amea Power’s projects abroad. Let’s dive in.

⛅WEATHER- Expect mostly sunny conditions in Dubai and Abu Dhabi, with some blowing winds and a chance of light rainfall in some areas. Temperatures will hit 25°C in Dubai, before cooling to an overnight low of 18°C. Over in Abu Dhabi, the mercury will peak at a cool 22°C, with an overnight low of 18°C.

WATCH THIS SPACE-

#1- The UAE plans to reduce its oil shipments starting early next year to adhere to Opec+'s strategy to reinforce compliance with production targets and stabilize global prices, Bloomberg reports. The Abu Dhabi National Oil Company (Adnoc) has reportedly decreased crude oil cargo allocations for certain Asian customers, cutting volumes by up to 230k barrels per day (bbl/d) across various grades, according to sources familiar with the transactions.

Official Opec+ data indicates the UAE has adhered to its quota, though some speculation of oversupply persisted among some traders, Bloomberg said.

REMEMBER- The UAE agreed to postpone an additional ramp-up of 300k bbl/d that it was previously granted due to its enhanced capabilities to April 2025, after Opec+ decided to delay a planned increase in production last week. The UAE has been hoping to increase its capacity, and is on track to hit its 5 mn barrels per day (bbl / d) oil capacity target — originally set for 2027 — by the end of 2025 or early 2026.

#2- European Commission approves Adnoc’s acquisition of Navig8: The European Commission has approved Adnoc Logistics and Services’ acquisition of an 80% stake in Navig8 and its subsidiary, Integr8, for USD 1 bn, with a deferred payment for the remaining 20% in 2027, according to a statement.

Background: Adnoc agreed to acquire the an 80% stake in Navig8 last June, pending regulatory approvals. The acquisition will boost Adnoc L&S’ services portfolio to include bunker trading, pooling and other services, as well as expand its presence to new locations. Navig8 will retain joint control over its subsidiary, Integr8 Fuels, until June 2027, Offshore Energy reports.

#3- Emaar Properties plans to distribute 100% of its share capital as dividends for in 2024 and for the following few years as part of a new dividend policy, according to a DFM disclosure (pdf). The developer will pay AED 8.8 bn in dividends, double what it paid in 2023, according to a separate press release.

DATA POINTS-

#1- The Dubai Electricity and Water Authority (Dewa) expanded its EV charging network to over 740 points across Dubai, Wam reports. This comes as EV adoption in Dubai reached over 34k cars as of October.

#2- The UAE's non-oil foreign trade with its six comprehensive economic partnership agreement partners reached AED 180 bn in 1H 2024, Al Khaleej reports, citing data from the Federal Competitiveness and Statistics Center. This represents about 13% of the country’s total foreign trade during the period, with imports accounting for AED 97 bn, exports for AED 50 bn, and re-exports for AED 32.2 bn. The biggest trading partners during the period were India (AED 103.4 bn), Turkey (AED 60 bn), and Indonesia (AED 10.8 bn).

PSAs-

#1- Qualifying public benefit entities (QPBE) — offering social welfare and other services — need to apply for corporate tax exemption by 18 December, according to a DIFC announcement.

#2- You can now manage freight transport through Logisty: Dubai’s Roads and Transport Authority, in partnership with logistics and transportation company TruKKer, will launch Logisty, its new platform for booking on-demand freight transport and managing vehicle fleets, this month, Wam reports.

HAPPENING TODAY-

#1- It’s interest rate week in the United States, with the Federal Reserve set to hold its final meeting of the year on Tuesday and Wednesday. The Bank of England and the Bank of Japan will follow suit on Thursday.

Expect the Fed to sound a note of caution. The expectation since Donald Trump cruised to victory last month is now for fewer rate cuts over a longer period of time. A quarter-point cut this week seems fairly likely (though less so than before US voters returned The Donald to office), but the swaps market is pricing in just 0.75 bps worth of cuts by next September, suggesting we could see as few as two 0.25 bps cuts next year. The FT has more on what to expect from the three meetings.

#2- Aims will take place on 16-20 December at the Adnec Center in Abu Dhabi. The conference focuses on pure and applied analysis, differential equations, and dynamical systems, covering a wide range of applications in fields such as biology, chemistry, physics, finance, and industrial mathematics.

THE BIG STORY ABROAD-

It’s a mixed bag in the global press this morning, with major geopolitical shifts in the Middle East, a downbeat warning on the USD, and a once-in-a-century storm all getting ink.

Israel announced plans to expand its population in the Golan Heights, citing the strategic importance of the area. Israeli Prime Minister Benjamin Netanyahu reaffirmed Israel’s commitment to increase its presence in the occupied Golan Heights despite international backlash — “strengthening the Golan is strengthening the State of Israel, and it is especially important at this time. We will continue to hold onto it,” he said in a statement. (Reuters | BBC | Financial Times | Washington Post)

MEANWHILE - Cyclone Chido hits Mayotte: The most powerful storm to hit the French Indian Ocean area of Mayotte in over a century, Cyclone Chido hit the French archipelago last night leaving hundreds dead before heading to Mozambique. In Mayotte local officials fear the death toll could reach thousands as emergency crews struggle with destroyed infrastructure and disrupted communications. (Reuters | BBC | CNN | The Guardian | New York Times)

AND- German Chancellor Olaf Scholz is hoping to lose a confidence vote today in the Bundestag in a bid to trigger snap elections on 23 February.

IN BUSINESS NEWS- Trump policies will likely change how investors feel about the USD, Bloomberg writes, explaining that the greenback will likely face pressures next year on the back of president-elect Donald Trump’s policies and upcoming rate cuts. Major banks like Morgan Stanley and JPMorgan Chase see the USD peaking mid-2025 before falling.

SIGN OF THE TIMES? Shares of OQ Base Industries fell 3.6% in Oman yesterday, becoming the third regional IPO in a row to disappoint in their trading debut. Talabat’s USD 2 bn IPO saw its shares on the Dubai Financial Market dip 7% on opening day, while shares of retailer Lulu closed flat in their first day on the ADX.

Background: State-owned OQ sold a 49% stake in methanol producer OQ Base Industries in a transaction worth USD 489 mn before the start of trading, pricing the offering at the top of the range.

Advisors: Morgan Stanley, Bank Dhofar and Bank Muscat quarterbacked the offering.

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Dubai inflation rises to 3.01% in November

Dubai’s annual inflation climbed in November up to 3.01% from 2.38% in October, according to figures (pdf) from the Dubai Statistics Center. The higher inflation reading was driven by increased prices in transport, personal care and social protection, recreation, sport and culture, housing, water, electricity, gas, and other fuel costs.

The breakdown: Prices of housing, water, electricity, gas, and other fuels — the largest component of the basket of goods and services — increased at the highest pace this year to 7.21% during November, compared to 7.16% in October. Personal care and social protection inflation reached its peak in 2024 at 3.25%, up from 1.67% in October. Additionally, prices for recreation, sport, and culture jumped to 1.07% in November from a 1.74% decrease in October.

REMEMBER- Fuel prices fell in December: The Fuel Price Committee reduced December fuel prices by nearly 5%, except for a marginal increase in diesel, following a 3% price increase in November.

Month-on-month, Dubai’s inflation increased 0.45% in November, up from a 0.17% increase in October, according to the statistics center’s monthly inflation report (pdf).

Tradeling Holding acquires Axiom Telecom’s distribution business

DIEZ’s Tradeling acquires Axiom Telecom: Tradeling Holding — the Dubai Integrated Economic Zones Authority’s (DIEZ) B2B e-commerce arm — inked a definitive agreement to acquire the distribution business of Dubai-based Axiom Telecom, state news agency Wam reports. The value of the transaction was not disclosed.

The details: Tradeling will acquire 100% of A&T Holding, which owns Axiom’s key distribution businesses. These include Axiom Distribution, its technology distributor within the UAE; Axiom International Distribution, its distributor in UAE free zones and for global exports; and Axiom Telecom Saudi Arabia, which handles distribution in Saudi Arabia and other international markets.

About Tradeling: Backed by the Dubai Airport Freezone Authority, Tradeling operates Mena’s largest B2B e-commerce platform. It specializes in electronics, F&B, office supplies, health and personal care and construction and industrial supplies. Serving over 50k customers, it has grown its order volumes 4x in 2023 and is projected to net annual revenues of over AED 2 bn.

About Axiom Telecom: The UAE-based technology retailer and distributor was founded in 1997, and acts as an authorized retailer and distributor for a number of international brands, as well as developing its own products and services.

Amea Power to develop a USD 600 mn wind farm in the Gulf of Suez

AMEA to invest an additional USD 600 mn in Egypt’s renewables sector: Dubai-based Al Nowais' AMEA Power will set up a USD 600 mn, 5 GW wind power project in the Gulf of Suez in cooperation with the Egyptian Electricity Transmission Company and the New and Renewable Energy Authority, according to an Egyptian cabinet statement. The Egyptian Electricity Transmission Company will purchase the energy generated by the solar plant for 25 years.

The timeline: The project is set to be completed by the first quarter of 2026, AMEA Power Chairman Hussain Al Nowais told Asharq Business.

Where’s the money coming from? The project received funding from the International Finance Corporation, the Dutch Entrepreneurial Development Bank, the Japan International Cooperation Agency, and Power China, which was also the main contractor.

A busy weekend for Amea: The announcement of the fresh investments came during the inauguration of Amea Power’s new 500 MW Abydos solar plant in Kom Ombo in Upper Egypt, which was built on an area of 10k sqm with investments of some USD 500 mn. The plant will generate electricity for 256k homes and reduce emissions by 760 tons annually.

The renewables company has so far invested over USD 2 bn into the Egyptian renewables market across five projects that produce a combined 3 GW, including its newly inaugurated 500 MW Abydos solar plant in Kom Ombo, Al Nowais said.

More in the pipeline: Amea is working on a 500 MW wind farm in Ras Ghareb that is lined up for completion by mid-2025 as well as a 1 GW solar power plant with 600 MWh battery storage system in Benban — expected to be Africa’s largest. Meanwhile, it conducted front-end engineering design works for its green hydrogen-based ammonia production facility in Ain Sokhna and tapped an unnamed company for its construction schemes.

Masdar inaugurates 500 MW Zarafshan wind farm

Masdar inaugurated its 500 MW Zarafshan wind farm in Uzbekistan, according to a press release. The plant — the largest so far in Central Asia — brings Masdar’s total renewable energy capacity in Uzbekistan to over 2 GW, with another 4 GW in the pipeline.

About the plant: The USD 600 mn plant is expected to power 500k homes and replace 1.1 mn tons of CO2 annually.

Masdar has been active in Uzbekistan: In January, Masdar connected 1.4 GW of renewable capacity — solar and wind — to Uzbekistan’s electricity grid. The company also inked an agreement with Uzbekistan’s Energy Ministry to develop a 1 GW wind farm in Mingbulak during COP29 last month. The company also has two solar projects in the pipeline from last year: the 250 MW Bukhara and the 300 MW Guzar plants.

Masdar is expanding its Central Asia footprint: Masdar is developing 1 GW worth of solar and wind projects in Azerbaijan. It also signed an agreement with Kyrgyzstan’s Energy Ministry to establish 3.6 GW of hydropower and renewable energy projects, and an agreement with Kazakhstan's government to develop a 1 GW wind farm.

IN OTHER NEWS FROM UZBEKISTAN-

The Abu Dhabi National Energy Company (Taqa) and Uzbekistan’s Energy Ministry signed a power purchase MoU for the TPP1 Saffron gas-fired power plant in Uzbekistan, Wam reports. Taqa and Mubadala each hold a 40% stake in the 900 MW plant, while the government of Uzbekistan holds the remaining 20%.

AND- The signing of a joint development agreement for the Mubarak project took place between Etihad Water and Electricity, Uzbekistan’s Energy Ministry and its Investment, Industry, and Trade Ministry, and JSC Thermal Power Plants. The project has a total capacity of 320 MW, which includes 216 MW generated from gas turbines and 104 MW from steam turbines.

ADEX’s USD 500 mn wheat financing agreement with Egypt gets green light

ADEX receives a greenlight for its Egyptian wheat financing transaction: The Abu Dhabi Exports Office (Adex) is finalizing its USD 500 mn wheat financing agreement with the Egyptian General Authority for Supply Commodities (Gasc) after the Egyptian House of Representatives approved the framework agreement between the two parties.

Background: The agreement was inked last year with Emirati agribusiness Al Dahra for the supply of milling wheat. Adex will be funding the wheat supply of Egypt’s Gasc over the next five years through a revolving finance program, with an annual ceiling of USD 100 mn.

ADEX has been active in Egypt: The Emirati authority extended a USD 100 mn revolving loan to the National Bank of Egypt last year to fund imports from the UAE.

Al Dahra has been in business with Egypt for years: The company owns 28k hectares of land in Egypt’s Toshka and East Owaynat and is the biggest private-sector wheat producer in the country. The company has sold more than 180k tons of wheat to the Egyptian government over the past three years, making it Gasc’s largest local private-sector supplier.

Hub71 launches Hub71+ AI to support AI startups in Abu Dhabi

Abu Dhabi’s tech startup ecosystem Hub71 launched an AI-focused hub — Hub71+ AI — to provide AI startups with infrastructure support, according to a press release. Abu Dhabi's Advanced Technology Research Council’s AI71 and G42 subsidiary Core42 joined as anchor partners.

The details: AI71 will provide compute power credits through its API Hub, which offers pay-as-you-go access to the Falcon series of Large Language Models and other tools. Meanwhile, Core42 will support regional startups by offering cloud credits and access to advanced digital infrastructure for AI applications, including training and inference capabilities in multiple regions.

Other backers of the hub, who will provide additional technical expertise, digital infrastructure support, and guidance, include Amazon Web Services, Google for Startups, Nvidia, Hewlett Packard Enterprise, Mohamed Bin Zayed University of Artificial Intelligence, and 42 Abu Dhabi.

More asset managers eye ADGM

FINANCE-

#1- Sun Capital Advisory sets up shop in Abu Dhabi: Private investment firm Sun Capital Advisory launched a new office in ADGM, according to a statement. The company acts as an outsourced direct investment and asset management arm for its clients, who are primarily high-net-worth individuals and families.

What they said: “I look forward to fostering long-term partnerships with key stakeholders in Abu Dhabi and providing clients the opportunity to scale their direct investment portfolios within the local ecosystem and internationally,” Sun Capital’s Founder Karim Khatoun said.

#2- CPE eyes Abu Dhabi office: Chinese alternative asset manager CPE plans to set up an office in ADGM, CPE’s Managing Director Johnson Cheng said in an interview with Sky News Arabia (watch, runtime: 3:32). The fund currently has USD 22.3 bn in assets under management across technology, healthcare, retail, pharma, infrastructure, and manufacturing.

#3- ADGM partners with Beijing Financial Street to support businesses: ADGM inked an MoU with Beijing Financial Street Service Bureau, the manager of the Chinese city’s financial district hub, to collaborate on industry promotion and support business establishment in both districts, according to Wam.

BANKING-

CBUAE doubles down on cooperation with Tajik counterpart: The Central Bank of the UAE (CBUAE) inked an MoU with the National Bank of Tajikistan to set up a framework to facilitate transactions between both countries, discuss banking laws and regulations, and exchange expertise, according to a press release (pdf).

CRYPTO-

Zand gets the go-ahead to launch institutional-grade digital asset custody services: All-digital bank Zand received approval from Dubai’s Virtual Asset Regulatory Authority to offer digital asset custody services for corporate and institutional investors, a press release reads.

REAL ESTATE-

#1- Lacasa taps into real estate with a AED 1.2 bn pipeline: Lacasa Architects and Engineering Consultants launched a real estate division, Lacasa Living, with six projects already lined up for development, according to a press release. The new firm is eyeing a total of AED 1.2 bn in real estate developments next year, with the value of its developments increasing to AED 2 bn in 2026, and AED 3 bn in 2027.

Details: The first project in the pipeline will be a residential project on Al Marjan Island in Ras Al Khaimah, the details of which will be announced in January. Other projects are expected to follow in Dubai and Lusail in Qatar.

#2- Dubai’s AED 2 bn Trump Tower is expected to launch in 2Q 2025, Dar Global’s CEO Ziad El Char told Gulf News. While the exact location of the project was not disclosed, El Chaar said “it will be in the wider Downtown area, with views of the Burj Khalifa and of the sea.”

Remember- Dar Global, the Dubai-based developer and global arm of Saudi Dar Al Arkan, partnered with the Trump Organization back in July to build a Trump Tower in Dubai.

#3- Construction of world's tallest hotel in Dubai is complete: Dubai-based China Railway 18th Bureau Group completed the construction of the world’s tallest hotel, the 373.5-meter Ciel in the Dubai Marina, according to a press release. The project is set to be delivered in February 2025.

BUSINESS-

#1- The Emirati Talent Competitiveness Council brought the Nafis initiative to Al Ain in a bid to boost employment in the private sector and support Emiratization goals, according to a statement from the Abu Dhabi Media Office. The initiative, launched in partnership with the Central Bank of the UAE and several commercial banks, targets the creation of 2k jobs and 2k training programs.

The first phase of the program, which runs until 2026, aims to create 1.7k jobs in the financial and banking sectors. This phase will see participation from Emirates NBD, Abu Dhabi Islamic Bank, First Abu Dhabi Bank, Abu Dhabi Commercial Bank, and HSBC.

#2- Digitalstores + Shukran eyes bringing more Korean firms into the UAE: Homegrown e-commerce fulfillment platform Digitalstores partnered with Middle East-focused trading startup Shukran Korea to boost the presence of Korean companies in the UAE, according to a press release. The agreement, signed during the ComeUp conference, targets 27 Korean brands — including those working in the pharma, cosmetics, and ready-made clothing sectors — which will launch their businesses in the UAE market by 2025.

PLUS- Remal merges with Korean firm? Sharjah-based Remal Iot signed an MoU with Korea’s manufacturing and R&D firm Sungjin Techwin for a potential merger under the name Remal. No details were provided on the value of merger

AVIATION-

#1- Alex Jet seeks air operation certificate: Alex Jet — which has recently rebranded into Falcon Luxe — filed a letter of intent to the General Civil Aviation Authority to obtain an air operation certificate, Wam reports. The move came shortly after Alex Jet was integrated into the Falcon private aviation portfolio. Both brands operate under the Alex Investment Group.

#2- Falcon Technic lines up approval for MRO services: Aircraft maintenance firm Falcon Technic received CAR 145 approval from the General Civil Aviation Authority, enabling the company to perform maintenance, repair, and overhaul (MRO) services, Wam reports. The company will offer its services from its 13k sqm facility located at the Mohammed Bin Rashid Aerospace Hub in Dubai.

#3- ExecuJet opened a private jet terminal at the Mohammed bin Rashid Aerospace Hub in Dubai South, the Swiss business aviation firm said in a statement. The 15k sqm facility features a 7k sqm aircraft hangar, a private cocktail and cigar lounge, and a Majlis lounge, among other amenities. It also offers aircraft maintenance services via Dassault Aviation’s ExecuJet MRO Services.

ICYMI- ExecuJet MRO Services is setting up an aircraft paint and livery facility at Al Maktoum International Airport. The facility, being built by Satys Aerospace, is expected to begin operations in 1Q 2025.

#4- A Boeing subsidiary is eyeing manufacturing drone parts in the UAE: Boeing’s unmanned aerial systems (UAVs) manufacturing subsidiary Insitu plans to manufacture drone parts in Abu Dhabi as part of a four-phase plan, the company’s CEO Diane Rose told Khaleej Times. The first phase of the plan saw Insitu launch a UAS center of excellence at the Tawazun Industrial Park in Abu Dhabi, aiming to localize UAS maintenance, repair, and overhaul (MRO) services for the UAE army.

The following phases of the plan, which will wrap up by 2030, include local supply and research and development projects, followed by an engineering facility, as well as a production and programming facility, Rose explained.

LEGISLATION-

The Family Development Foundation (FDF) is now responsible for developing social services for the elderly, as well as preventive health services programs as per a new law issued by President Sheikh Mohamed bin Zayed Al Nahyan, according to the Abu Dhabi Media Office.

ICYMI-The UAE established a new Family Ministry earlier this month, led by Sana bint Mohammad Suhail. The ministry is responsible for managing grants, counseling, and programs for prospective couples, and aims to boost child welfare through new policies and strategies, as well as develop strategies to protect and empower vulnerable groups, and develop standards for licensing social care institutions and training social workers.

FINTECH-

Bahrian Beyon Group's subsidiary Beyon Money secured two new licenses from the Central Bank of the UAE, according to a press release. The licenses will enable Beyon Money to offer a broader range of financial solutions to customers in the UAE, including payment accounts, payment instrument issuance, domestic and cross-border transfers, and more.

TELECOMS-

US cybersecurity firm Commvault signed an MoU with telecom operator du to offer its cyber resilience solutions to businesses in the region, according to a press release.

BTC hits another record on news of a first-of-its-kind US BTC strategic reserve

BTC hit a fresh record of USD 105k yesterday after US legislation was introduced to set up a strategic reserve for the digital currency, which would allow the state to accept taxes, fees and donations in bitcoin that would be held for a minimum of five years, Reuters and CNBC report. The so-called “Bitcoin Act” would also see the US government purchase 1 mn BTC over five years.

In context: The news comes following a rally that saw BTC climb over 50%, spurred on by Donald Trump’s election in the US, and saw it hit the USD 100k milestone for the first time this month.

It’s not the first time we’ve heard of this: In July 2024, Trump initially touted the idea of a strategic national bitcoin reserve at the Bitcoin 2024 conference, predicting that bitcoin could surpass gold's market capitalization of USD 16 tn.

The US is not alone: The possibility of a US bitcoin reserve has gained traction following similar moves by Russia, where lawmakers are advocating for a national BTC reserve as an alternative to foreign currency reserves. Analysts predict that BTC’s price could reach as high as USD 800k by the end of next year, resulting in a market capitalization of approximately USD 15 tn, Forbes reports.

MARKETS THIS MORNING-

Asian markets are mixed after South Korea’s president was impeached over the weekend, and as investors await key interest rate decisions from the Bank of Japan and the People’s Bank of China. South Korea’s Kospi is hovering near the flatline, while Kosdaq is up nearly 0.7%. Japan’s Nikkei is also up, while China’s CSI 300 and Hong Kong’s Hang Seng are both down.

Over on Wall Street, futures are calm following a losing week for the S&P 500 and the Nasdaq.

ADX	9,265	-0.1% (YTD: -3.3%)
DFM	4,830	+0.4% (YTD: +19.0%)
Nasdaq Dubai UAE20	3,893	0.0% (YTD: +1.3%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	4.5% o/n	4.3% 1 yr
TASI	12,060	-0.3% (YTD: +1.1%)
EGX30	30,776	-0.1% (YTD: +23.6%)
S&P 500	6,051	0.0% (YTD: +26.9%)
FTSE 100	8,300	-0.1% (YTD: +7.3%)
Euro Stoxx 50	4,968	+0.1% (YTD: +9.9%)
Brent crude	USD 74.49	+1.5%
Natural gas (Nymex)	USD 3.28	-5.1%
Gold	USD 2,676	-1.2%
BTC	USD 102,645	+1.6% (YTD: +143.1%)

THE CLOSING BELL-

The ADX fell 0.1% on Friday on turnover of AED 793.5 mn. The index is down 3.3% YTD.

In the green: Abu Dhabi National Takaful (+15.0%), Union Ins. Company (+11.1%) and United Arab Bank (+4.5%).

In the red: Commercial Bank International (-9.9%), E7 Group (-4.6%) and National Bank of Umm Al Qaiwain (-2.2%).

Over on the DFM, the index closed up 0.4% on turnover of AED 405.9 mn. Meanwhile, Nasdaq Dubai stayed flat.

CORPORATE ACTIONS-

Takaful Emarat Ins. completed its capital increase of AED 185 mn through a rights issue offered to existing investors, raising the company's total capital to AED 210.7 mn, according to a press release (pdf).

The UAE and Arab League countries discuss the situation in Syria

UAE joins Arab countries in Jordan to discuss developments in Syria: Deputy Prime Minister and Foreign Affairs Minister Sheikh Abdullah bin Zayed Al Nahyan joined seven Arab League countries in Aqaba to discuss the need for a “peaceful and inclusive” political transitional process in Syria — following Bashar Al Assad’s ouster, Wam reported. Foreign ministers from host-country Jordan, Saudi Arabia, Iraq, Lebanon, Egypt, Bahrain and Qatar also joined the meeting.

More on the Syria discussions: The minister also discussed the situation in Syria over several phone calls with Kuwaiti Foreign Minister Abdullah Ali Al Yahya and Omani Foreign Minister Sayyid Badr bin Hamad bin Hamood Albusaidi, Wam reports here and here.

CALENDAR

DECEMBER

13 December - 4 January (Friday-Saturday): Liwa International Festival, Al Dhafra, Abu Dhabi.

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

16-20 December (Monday-Friday): AIMS Conference 2024, Adnec Centre, Abu Dhabi.

17-19 December (Tuesday-Thursday): China Home Life, Dubai Word Trade Center.

19-22 December (Thursday-Sunday): Rise Investment Festival for Young Entrepreneurs (RICH), Dubai.

6 December-12 January: Dubai Shopping Festival.

Signposted to happen sometime in December:

UAE-China Summit, Abu Dhabi.
Abu Dhabi Forum for Peace, Abu Dhabi.

JANUARY 2025

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

7-9 January (Tuesday-Thursday): The Arab Plast International Trade Fair for Plastics, Recycling, Petrochemicals, Packaging and Rubber Industry, Dubai International Convention and Exhibition Center, Dubai.

9-13 January (Thursday-Monday): International Renewable Energy Agency Youth Forum, Abu Dhabi.

11-13 January (Saturday-Monday): International Renewable Energy Agency Assembly, Abu Dhabi.

11-13 January (Saturday-Monday): The 1 Bn Followers Summit, Dubai.

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

14-16 January (Tuesday- Thursday): The Light + Intelligent Building Middle East exhibition, Dubai.

14-16 January (Tuesday- Thursday): Intersec, Dubai World Trade Center, Dubai.

19-24 January (Sunday-Friday): Coling2025, Abu Dhabi.

20-22 January (Saturday-Monday): FESPA Middle East, Dubai World Trade Centre, Dubai.

22-25 January (Monday-Saturday): The Sharjah Real Estate Exhibition (Acres), Expo Centre, Sharjah.

27-30 January (Monday-Thursday): Arab Health Exhibition, Dubai World Trade Centre, Dubai.

FEBRUARY 2025

1-6 February (Saturday-Thursday): Dubai Fashion Week, Dubai Design District.

1-8 February (Saturday-Saturday): The Mubadala Abu Dhabi Open, Zayed Sports City's International Tennis Centre.

2-3 February (Sunday-Monday): L’Etape Dubai cycling race, Dubai.

3-6 February (Monday-Thursday): Medlab Middle East, Dubai World Trade Center.

10-12 February (Monday-Wednesday): Japan Kyoto Trade Exhibition, Dubai Word Trade Center.

16 February-1 March: Dubai Dutyfree Tennis Championships, Dubai Dutyfree Tennis Stadium in Al Garhoud.

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

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

28-29 February (Friday-Saturday): Investopia 2024, the St. Regis, Abu Dhabi.

Signposted to happen sometime in 1Q 2025:

The first eight fronds of the Palm Jebel Ali will be site-ready, allowing for the commencement of villa infrastructure and civil works.

APRIL 2025

6-11 April (Sunday-Friday): Geo-Spatial Week 2025, Dubai.

7-10 April (Monday-Thursday) : EFG Hermes One on One conference, Dubai.

7-9 April (Monday-Wednesday): AIM Investment Summit, Abu Dhabi National Exhibition Center

14-16 April (Monday-Wednesday): Dubai Woodshow’s 21st Edition, Dubai World Trade Center

14-16 April (Monday-Wednesday): IPS congress, Dubai World Trade Center.

16-18 April (Wednesday-Friday): World Future Energy Summit,Abu Dhabi National Exhibition, Abu Dhabi.

28 April-1 May (Monday-Thursday): The Arabian Travel Market 2025, Dubai World Trade Center

Signposted to happen sometime in April:

Abu Dhabi Autonomous Racing League, Yas Marina Circuit in Abu Dhabi

MAY 2025

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

19-22 May (Monday-Thursday): Make it in the Emirates Forum 2025, Adnec, Abu Dhabi.

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

SEPTEMBER 2025

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

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

OCTOBER 2025

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

NOVEMBER 2025

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

Signposted to happen sometime in 2025:

The Middle East Electric Vehicle Show, Expo Center Sharjah.
e& will complete Adnoc’s private 5G network.
Executive Committee Meeting (EXCOM 2025) conference of the World Smart Sustainable Cities Organisation (WeGO)
The International Civil Aviation Organization’s Global Implementation Support Symposium, Abu Dhabi.

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
Dubai to host the Arab Actuarial Conference
United Nations Water Conference 2026, UAE

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