Good morning, lovely people. We kick off the week with a financing-heavy issue, with a digital bond issuance from Emirates NBD, a green bond from a Taqa-led consortium for refinancing purposes, and a project Masdar is working on in Oman reaching financial close.
The theme continues a debt-heavy month as corporates rush to bond markets and debtors early in the year amid strong demand. And they’re not issuing run-of-the-mill vanilla bonds, plenty of the issuances this month have set precedents — this morning’s Emirates NBD’s issuance is a digital bond — its first ever, and the second in the UAE. And it follows its first ever blue bond (which it issued alongside a green bond earlier this month).
Meanwhile, a Taqa-led consortium issued a bond to refinance debt obligations linked to Al Dhafra solar plant — a move that also shows strong appetite for infrastructure and renewables-linked plays that also help Abu Dhabi energy firms churn capital rather than accumulate debt.
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WEATHER- It’s another pleasantly warm morning across the UAE, with temperatures reaching a peak of 24°C in Dubai and 25°C in Abu Dhabi, before cooling to 16°C in Dubai and 15°C in the capital.
Happening this week
It’s Davos week: World leaders, bankers, and global business leaders are touching down in Switzerland this week for the World Economic Forum Annual Meeting, which runs tomorrow through Friday. You can go deeper on the meeting’s microsite here.
The UAE is sending what it says is the fifth biggest delegation at Davos this year, with some 100 officials, ministers, and senior executives from major private companies set to attend, according to state news agency Wam. The delegation will be led by Chairwoman of Dubai Culture and Arts Authority Sheikha Latifa bint Mohammed bin Rashid Al Maktoum.
Besides a pavilion which is set to host a series of sessions, meetings, and media engagements, several officials will take the stage for panels throughout the week. Chairman of Abu Dhabi’s Health Department Mansoor Al Mansoori will join a panel on healthcare innovation and inefficiencies in the healthcare system tomorrow; after which Sheikha Latifa bint Mohammed bin Rashid Al Maktoum will participate in a session focused on the influence of storytelling in shaping global narratives.
Later on Friday, Damac’s Founder and Chairman Hussain Sajwani takes the stage alongside other regional leaders for a session focused on the “Prosperity Agenda for the Middle East.”
President Mohamed bin Zayed Al Nahyan is in India today as part of a working visit that will see him hold talks with Indian Prime Minister Narendra Modi, Wam reports. Discussions will focus on strengthening bilateral economic ties and look into new windows to deploy their comprehensive economic partnership agreement, according to India’s Foreign Ministry.
Last year ended on a strong note for bilateral investments, with a raft of agreements inked between Emirati and Indian entities last November, and the UAE committing up to USD 2 bn to invest in India’s logistics sector.
The Sharjah Real Estate Exhibition (also known as Acres) kicks off on Wednesday and runs until Saturday at Expo Center Sharjah, bringing together more than 110 developers showcasing residential, commercial, industrial, and land projects from across the UAE. The four-day event is positioned as a transaction-focused forum, giving investors and buyers direct access to new launches, payment plans, and on-site agreement execution.
UMEX Abu Dhabi runs from Tuesday, 20 January to Thursday, 22 January at Adnec Center Abu Dhabi, bringing defense and manufacturers of unmanned and autonomous systems together. The focus spans military and civilian applications — from ISR and autonomous vehicles to logistics, energy, and smart-city use cases.
Watch this space
IPO WATCH — DWTC + Informa events JV may be headed for a Dubai listing this year: Dubai World Trade Center (DWTC) and UK-based Informa Group are exploring a potential IPO of their jointly-owned Dubai-based international events business — Informa International — which could take place on the DFM as early as this year, Bloomberg reports, citing people it says are in the know. The pair have reportedly tapped Rothschild & Co for the transaction, which is said to be in early stages.
About the JV: Informa International, which is majority-owned by Informa Group (52%), was previously slated to go live in 4Q 2025 with no public update since. The JV was set up in March of last year when the pair agreed to merge their B2B events operations. The business was expected to generate more than USD 700 mn in annual revenues, consolidating control of marquee events including Gulfood, and the Dubai Airshow.
Other events firms in the region are also angling for IPOs: Saudi fast-growing events and experiences company Sela and events organizer Richard Attias & Associates are also reportedly eyeing IPOs on Tadawul.
IN CONTEXT- A potential listing of Informa International would add to a 2026 pipeline that includes heavyweights like Emirates Global Aluminium (EGA), Etihad Airways, and Binghatti, as Dubai looks to regain its IPO momentum.
REGULATION WATCH — UAE signs up for tougher anti-forced labor rules: The UAE has ratified the International Labor Organization’s 2014 Protocol to the Forced Labor Convention, becoming the 63rd country globally and the second GCC nation to do so, state news agency Wam reports. The protocol will enter into force one year after ratification, locking the commitment into international law.
What changes: The 2014 protocol modernizes a 1930-era framework and aims to prevent human trafficking by imposing tougher penalties, developing national policies against trafficking, and providing assistance and remedies for those who have been affected by forced labor.
The big story abroad
A showdown between the US and the EU is set to take over Davos, as the EU readies a package of retaliatory tariffs — potentially EUR 93 bn’s worth — or restrict some US firms from the bloc’s market in response to US President Donald Trump’s 10% tariff threat to European countries over their opposition to his campaign to take over Greenland. Plans are being drawn up now to give EU countries leverage during talks that are set to take place at Davos this week, the Financial Times reports.
In other Trump-causing-anxiety-for-geopolitical-leaders news… the US has started inviting heads of states to join the US’ new “Board of Peace” which is being touted as an “international organization that seeks to promote stability, restore dependable and lawful governance, and secure enduring peace in areas affected or threatened by conflict.” The board — which would initially focus on rebuilding Gaza and then address other global conflicts — would become official once three member states agree to the draft charter for the proposed group.
Trump has already invited several European nations to join the board, along with Egypt and Turkey, while Argentina’s Javier Milei and Canada’s Mark Carney were also invited to be part of a Board of Peace for Gaza. Diplomats have raised concerns that this would be a “Trump United Nations” given Trump’s criticisms of the UN in the past.
The so-called board would also allow countries who pay a USD 1 bn fee a permanent spot on the board — otherwise, countries would join on a three-year term basis, Bloomberg reports.
MEANWHILE- Senegal clinched its second Afcon title after a dramatic game that saw it beat Morocco 1-0, even after players had walked off in protest of a controversial penalty that was awarded to Morocco in stoppage time. The penalty ended up being an easy save as Morocco’s star player Brahim Diaz attempted a Panenka-style chip, giving Senegal’s Papa Gueye a chance to score in extra time.
PLUS- The Syrian government and Kurdish-dominated militia the Syrian Democratic Forces have reached a ceasefire agreement after Syrian troops seized towns controlled by the SDF this week as Syrian President Ahmad al Sharaa works to extend his rule in the north. (Reuters)
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