FAB + Sharjah government plan debt issuances

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WHAT WE’RE TRACKING TODAY

THIS MORNING: UAE-Russia trade agreement within months?

Good morning, wonderful people, and happy hump day. The newsflow has picked up slightly from earlier this week, but with a mix of themes spanning debt, investment, and M&A.

THE BIG THEME here at home is debt, with a USD 750 mn tier 2 debt sale from First Abu Dhabi Bank, a USD 540 mn sustainability bond issuance from Sharjah — its second this year — and a USD 1 mn venture debt transaction for agritrade startup Maalexi.

PUBLIC SERVICE ANNOUNCEMENTS-

#1- Emergency response times set to improve: The cabinet approved yesterday technical regulations for emergency communications in vehicles aimed at shortening response times of emergency services by 40%, and cutting down death toll on the roads by 2%, Wam reports.

SPEAKING OF ROADS- Dubai’s Roads and Transport Authority has begun test running an AI-powered vehicle to detect road damage and inspect traffic diversions in a bid to boost road quality and safety, a press release reads.

#2- It’s going to become easier for graduates of foreign universities to specialize and get their certificates recognized, after the Education Ministry launches the second phase of its recognition system for certificates, according to a statement. The upcoming phase is set to see more streamlining in terms of required documentation, and will allow for the recognition of more academic specializations. The first phase of the initiative already slashed processing times for recognition certificates by 50%.

#3- Ajman’s public buses will now accept Visa cards: Passengers can pay their bus fares using Visa cards or mobile devices in Ajman after the Ajman Transport Authority partnered with Visa to introduce contactless payment services, Wam reports.

HAPPENING TODAY-

WEATHER- Dubai is set to see a daytime high of 44°C and an overnight low of 33°C, while the mercury in Abu Dhabi will rise to 39°C, with an overnight low of 33°C.

#1- Russia’s Innoprom 2024 — its largest industrial exhibit — kicked off Monday with the UAE as the partner country, and is scheduled to continue through 11 July. The UAE delegation is led by Industry Minister Sultan Al Jaber, who will highlight potential investments between the countries and promote industrial cooperation, according to a press release.

Could we see a trade agreement with Russia soon? “We anticipate the removal of excessive barriers to mutual trade in the near future. We are hopeful to conclude a preferential trade agreement within the coming months,” the National quotes Russian Industry and Trade Minister Anton Alikhanov as saying on Monday at the exhibit.

Russia’s Eurasian Economic Commission Minister Andrey Slepnev is set to meet with several UAE officials on the sidelines of the four-day exhibition, the National added.

#2- Progress on trade talks with the Philippines: The UAE and Philippines conclude their second round of negotiations on a trade and economic agreement today in Manila, the Manila Times reports. The discussions commenced on Monday. The countries are looking to finalize the agreement by October or November, Assistant Secretary for Industry Development and Trade Policy at the Department of Trade and Industry Allan Gepty said.

Background: The two countries agreed to initiate talks in December in a bid to boost trade and investment by facilitating the export of goods and services between the Philippines, the UAE, and the broader Gulf region.

DATA POINTS-

#1- The GCC’s tourism sector is set to contribute some USD 340 bn by 2030 to the region’s GDP, up from USD 130 bn in 2023, as regional governments look to airport infrastructure and public-private partnerships to boost the sector and diversify away from oil, Fitch Ratings said in a statement (pdf). This would account for more than 10% of the region’s GDP.

REFRESHER- Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum approved the design plan for the USD 35 bn new passenger terminal at Al Maktoum International Airport in April. The expanded airport is set to be the world’s largest, hosting over 260 mn passengers, handling 12 mn tons of annual cargo, accommodating around 400 aircraft gates, and featuring five parallel runways.

#2- The number of active economic licenses in Ajman increased 15% y-o-y in 1H 2024, to 37.8k active licenses, Wam reports, citing a Department of Economic Development in Ajman report. There was a 5% y-o-y increase in new license issuances, with 3k new licenses issued during the period, and 15k license renewals, up 9% y-o-y. Women’s clothing businesses, building maintenance, and restaurants were among the top activities newly licensed by the department.

THE BIG STORY ABROAD-

The Nato summit kicked off in Washington yesterday against the backdrop of Joe Biden’s teetering reelection campaign and developments in the Russia-Ukraine war — landing on most front pages with news of another support package for Ukraine, this time in the form of an air defense system. (Washington Post | Reuters | FT)

Biden’s speech at the summit stood in stark contrast with his performance at the presidential debate, with Reuters noting his “strong and confident voice” as he read off a teleprompter and looked to avoid signs of weakness.

Still, his future candidacy remains in limbo, with another key democrat — Mikie Sherrill — joining the growing call among Democratic lawmakers for him to drop out, while some others have pledged support, the Financial Times said.

ALSO HAPPENING YESTERDAY- US Federal Reserve Chair Jerome Powell kicked off his testimony before the Senate Banking Committee with a tee-up for an interest rate cut that could take place as soon as September, Reuters reports.

“Leaving monetary policy too tight for too long could unduly weaken economic activity and employment,” Powell said, adding that the US economy is no longer overheated, as inflation and the labor market both continue to cool.

OVER IN EUROPE- It’s a bad week for France on all fronts, as it faces a political stalemate and is kicked out of the Euros by a defiant Spain — led by 16-year-old wunderkind Lamine Yamal — in yesterday’s semi-final.

PLUS- Europe just launched its first rocket in almost 30 years, virtually “power[ing] Europe back into space,” European Space Agency Josef Aschbacher head said, after years of dominance from Elon Musk’s SpaceX. (FT | CNBC)

FAB to launch USD 750 mn debt sale

First Abu Dhabi Bank (FAB) plans to raise USD 750 mn from a 10.5-year Tier 2 facility, Reu ters reports, citing a bank document. The bank priced the issuance at 185 basis points over US Treasuries, with a 10.5-year maturity. The debt will be non-callable for 5.5 years, meaning that FAB can’t redeem the securities in that period except by paying a penalty.

Tier 2? Tier 2 capital forms a part of a bank’s capital reserves. Unlike core capital listed as tier 1 (such as reserves and equity capital), tier 2 is comprised of assets considered more unreliable or risky due to being more illiquid or being harder to quantify.

ADVISORS- FAB, Deutsche Bank, Emirates NBD Capital, JP Morgan, and Standard Chartered Bank will act as joint lead managers and bookrunners for the debt sale.

Dubal snaps up majority stake in BiOD

Dubal Holding buys into BiOD: Dubai government’s investment arm Dubal Holding — a subsidiary of sovereign wealth fund Investment Corporation of Dubai — acquired a majority stake in Dubai-based biodiesel manufacturer BiOD for an undisclosed value, Trade Arabia reports. The acquisition will see the two firms collaborate to strengthen Dubai’s green economy and enhance environmental sustainability in the energy sector.

About BiOD: BiOD produces biofuel from cooking oil and palm oil mill effluent at its second-generation biodiesel refinery, located in the Jebel Ali Freezone.

ADVISORS- UAE-based Ideal Capital acted as BiOD’s advisor on the transaction.

IN OTHER M&A NEWS-

More details on Electra’s acquisition of 20% of Elsewedy: Abu Dhabi-based electrical equipment manufacturer Electra Investment Holding, which snapped up 20% of Elsewedy Electric earlier this week, is a subsidiary of 2PointZero Group, which is in turn a subsidiary of the International Holding Company (IHC), according to an ADX disclosure (pdf). The stake will be transferred to 2PointZero today.

2PointZero? The newly set up holding company was established at the start of the year and is expected to hold the equivalent of USD 27 bn in assets — including Beltone Financial Holding, Chimera, and Lunate.

Sharjah gov’t is planning a USD 540 mn sustainability bond issuance

The Sharjah government plans to issue USD 540 mn, 6.5-year sustainability bonds, Mubasher reports, citing Reuters. Sharjah tapped Credit Agricole, HSBC, IMI Intesa Sanpaolo, and JP Morgan as joint global coordinators, on the issuance, Reuters said, referencing an arranging document.

This would be the second green bond issuance for the emirate this year: Sharjah closed its USD 750 mn 12-year USD-denominated senior unsecured sustainable bond issuance in March of this year, after tightening their price guidance from an initial spread of 235 basis points (bps) over US treasuries to around 195 bps. The issuance drew some USD 4 bn in orders.

Gulf Islamic Investments raises USD 100 mn from Saudi investors + KSH to invest in USD 500 mn Egyptian development

Gulf Islamic Investment gets a boost from Saudi pharma giant: Dubai-based Shariah-compliant investment firm Gulf Islamic Investments (GII) raised USD 100 mn from Saudi investors to expand its operations across the Mena region and India, Bloomberg reports, citing an unnamed GII spokesperson. The funding was led by Saudi Arabia’s Al Nahdi Family Office through its flagship pharma group Al Nahdi Medical, who, along with other unnamed investors, will inject growth capital into the firm.

GII has a longstanding relationship with the Kingdom: Dubai’s GII has expanded its Saudi presence with a SAR 1 bn (USD 300 mn) logistics firm established in May, as well as acquisitions of an undisclosed licensed investment and asset management firm earlier this year, a SAR 600 mn (USD 160 mn) stake in Abdeel Medical Company, and a majority share of Al Meswak Dental Clinics for USD 600 mn in 2022.

More on GII: The firm specializes in real estate, private equity, and venture capital, managing assets worth USD 4.5 bn. Canada-based Brookfield Asset Management acquired a controlling interest in GII’s logistics division in April. GII set plans at the beginning of the year to spend around USD 1 bn throughout 2024 in the US, India and the GCC, Bloomberg reported previously.

More on Saudi’s Al Nahdi Medical: Saudi Arabia’s largest retail pharmacy chain — with operations in the UAE — listed on Saudi Arabia’s Tadawul in 2022 in one of the Kingdom’s biggest IPOs so far, raising USD 1.36 bn.

OTHER INVESTMENT NEWS-

KSH to invest in new USD 500 mn Egyptian development: UAE-based KSH — affiliated with the Private Department of Sheikh Mohammed Bin Khalid Al Nahyan — and Egypt’s Safwat Kaliouby Group (SKG) will develop a 20k sqm plot in Egypt’s Giza with EGP 24 bn (c. USD 500 mn) in investments, under a strategic partnership inked between the two sides according to a press release (pdf). The project will see the construction of three mixed-use towers and a five-star hotel over a four-year period.

Damac commits USD 50 mn for AI firm Anthropic

Damac ramps up AI investments: Dubai-based conglomerate Damac Group ’s family office invested in three AI startups abroad and has earmarked USD 1 bn through its digital unit Edgnex for investments in data centers as part of its latest AI push, according to a press release (pdf).

The breakdown: Damac invested some USD 50 mn into US AI startup Anthropic by acquiring an undisclosed stake from crypto b’naire Sam Bankman-Fried’s bankrupt crypto exchange, FTX, earlier this year; and invested undisclosed sums in Elon Musk’s xAI and Paris-based AI startup Mistral. Damac also allocated funds in more than 70 funds across multiple investment strategies.

REMEMBER- Damac is not the only UAE investor backing Anthropic: Mubadala bought a USD 500 mn stake in the startup from FTX back in March, making it the biggest buyer in a consortium of buyers snapping up two-thirds of FTX’s 8% stake in the company. The company, currently owned by now-defunct FTX and backed by major players like Amazon and Google, is being sold for more than USD 1 bn to settle FTX’s debts.

Data centers are on its radar: The conglomerate also said in June that it plans to invest USD 1 bn in data centers through its digital unit Edgnex over the next couple of years in response to the global demand for digital infrastructure.

ICYMI- Edgnex is building USD 600 mn data centers in Saudi Arabia in Dammam and Riyadh, slated to go online next year. Edgnex also signed an MoU with Salam, Cinturion, and Jeddah’s Emaar, the Economic City to develop a digital infrastructure hub in the city. The company also earmarked USD 100 mn alongside telecoms operator Vodafone Turkey to establish a new 6 MW data center in Izmir, Turkey, also set to go online next year.

Damac wants to ride the AI wave, “Our increased investment in AI reflects our commitment to supporting the development of groundbreaking technologies that can drive significant progress and create new opportunities across various sectors,” Damac founder Hussain Sajwani said.

Volume of startup investments up 11% y-o-y in 1H 2024 -Magnitt

The UAE saw the biggest volume of startup investments in the MENA region in 1H 2024, according to the latest report (pdf) by Dubai-based financial analysis firm Magnitt. UAE-based startup investments climbed 11% y-o-y to 83 closed transactions during the period, with startups landing some USD 225 mn in total funds, marking a 19% y-o-y decline in terms of value.

This makes the UAE the fifth highest country among emerging markets in terms of value of investments in the region, with Saudi Arabia leading the pack with USD 412 mn in funding for startups. The UAE is second to KSA in the MENA region.

Wamda has a different take, counting 91 UAE-based startups drawing in USD 455 mn in funding during the first half of the year. Despite investments plunging 24% y-o-y from the USD 604 mn raised during the same period in 2023, the UAE still emerged as the “top funded ecosystem in the region.” Our internal tracker puts the figure closer to Magnitt’s, though it doesn’t count some undisclosed rounds raised during the period.

The UAE had the lion’s share of exits, accounting for six exits of a total of 10 taking place across the region over the six-month period, according to Magnitt.

UAE-based VCs came in second after Saudi firms for number of investments, with 41 transactions closed, according to Wamda. UAE-based VC Plus Venture Capital ranked as the top fourth investor across emerging markets, with 10 transactions closed during 1H 2024, Magnitt said.

THE REGIONAL PICTURE-

VC funding slowed 34% y-o-y to USD 768 mn across the region, along with an 18% y-o-y decline in transaction volumes to 199 transactions. On the bright side, the MENA startup investor pool grew 32% y-o-y to 262, signaling “sustained interest in the region.”

Fintech startups accounted for 38% of investments in startups in emerging markets, securing over USD 1 bn in funding across 128 transactions, making the fintech industry the leading sector in terms of funding.

Maalexi secures USD 1 mn in venture debt

Agri-trade fintech firm Maalexi bagged USD 1 mn in venture debt from India-based venture capital firm Stride Ventures, according to a press release. The investment will allow Maalexi to acquire new users and scale its operations, as well as boost food and agri-produce procurement and distribution across the region. The startup also hopes to acquire further debt capital down the line to boost its expansion plans, the statement said.

Investors ❤️ Maalexi: The agri-tech company secured USD 3 mn in a pre-Series A funding round in January, led by Mena venture capital giant Global Ventures, with participation from Amsterdam’s Rockstart and New Delhi’s Ankurit Capital.

About Maalexi: Founded in 2021 by Azam Pasha (LinkedIn) and Rohit Majhi (LinkedIn), Maalexi offers risk management services, including digital contracts, AI-powered inspections, and blockchain-authenticated documentation, for small and medium agri-businesses operating in food security. The firm has facilitated the procurement of food supplies across 70 products from 27 countries and recorded a cumulative monthly growth rate of 60% last year.

Al Seer Marine has a new vice chairman

Al Seer Marine appointed Jasem Al Mansoori as vice chairman of its board, according to an ADX disclosure (pdf). The company also re-elected sitting chairman Readh Faraj Ahmed Alkindi.

Work commences on Sharjah's largest solar plant

ENERGY-

Work commences on Sharjah’s largest solar plant: Emerge –– a joint venture between Abu Dhabi state-owned renewable energy developer Masdar and France’s EDF — kicked off construction on its 60 MW solar plant at the Sharjah National Oil Corporation’s (SNOC) Sajaa Gas Complex, according to a statement. The new plant — the largest in the emirate — is expected to be operational by the end of 2024. Emerge will provide turnkey operation and maintenance solutions for 25 years. The project supports SNOC’s goals to reach net-zero emissions by 2032.

This has been in the works since last year: SNOC signed an agreement with Emerge to set up the solar power plant last October. Emerge plans to export the surplus solar energy produced by SNOC’s Sajaa Gas complex during the day to the Sharjah Electricity, Water, and Gas Authority (SEWA). In return, SEWA will provide SNOC with electricity during the night when demand for electricity is lower.

INFRASTRUCTURE-

Enter Dubai Green Spine: Dubai-based developer URB unveiled a proposed megaproject to turn Sheikh Mohamed Bin Zayed Road into a 64-km sustainable corridor, dubbed the Dubai Green Spine, according to a statement picked up by Zawya. URB planned the project with its research arm Epic Lab. The corridor features solar-powered trams, a 300-MW solar energy network, mixed-use buildings, as well as green spaces.

A USD 10 bn project? The project is still in the concept stage and no formal proposals have been submitted to authorities, URB CEO Baharash Bagherian told Khaleej Times, adding that the project is expected to cost USD 10 bn. If approved, the project would take 10 years to complete.

LOGISTICS-

#1- EMX goes international: The UAE’s EMX launched a new global service for ecommerce package delivery, dubbed EMX International, across the GCC region, Wam reports. The delivery platform will help companies serve customers in KSA, Oman, Bahrain, Qatar, and Jordan. Companies will be able to use the UAE as a regional gateway to cut down on delivery times and operational costs.

#2- Ship management company Oscar Middle East will open a new AED 150 mn liquid bulk terminal at Jebel Ali Freezone, according to the Dubai Media Office. The terminal has a total storage capacity of 45k cubic meters, capable of handling specialized storage and bulk-breaking services for chemicals and base oils, according to the statement. The terminal’s first phase is scheduled to become fully operational within 16 months, with phase two incorporating additional storage capacity.

INS.-

Policybazaar’s products coming to Network International clients: Business customers of Network International ’s payment management platform Network Expense Hub will have access to ins. products offered by Policybazaar.ae under a referral agreement both companies signed, according to a statement from Network International. Policybazaar.ae is the UAE arm of Indian ins. marketplace Policybazaar.

HEALTHCARE-

Abu Dhabi advances mental health initiatives for mothers and children: The UAE’s largest healthcare provider PureHealth and the Supreme Council for Motherhood and Childhood will work together on mental health initiatives and cooperate on the provision of treatment and rehabilitation for mental health disorders, especially for mothers and children, according to an Abu Dhabi Media Office statement.

MEDIA-

DangleAds Technologies lands in Dubai: Global digital marketing firm DangleAds Technologies inaugurated its Dubai office, according to news reports (here and here). The company operates offices in India, Singapore, Germany, the Netherlands, and Australia.

REAL ESTATE-

Afaq to offer escrow services to developers: Afaq Islamic Finance inked an MoU with the Dubai Land Department to provide escrow services for property developers in Dubai, Al Bayan reports.

Uh, Enterprise, what are escrow services? Escrow is a type of arrangement used in real estate sales, whereby a third-party agent is responsible for disbursing funds and property to their respective owners once both the developer and the buyer fulfill their contractual obligations. The point is to ensure that the money would be returned if either party didn’t adhere to the terms in the sale contract.

INVESTMENT-

Dubai Chambers inked an agreement with VFS Global, a major visa outsourcing and technology service provider, to enhance trade and investment growth for companies based in Dubai, according to Dubai Media Office. The partnership will facilitate market entry by giving businesses access to VFS’ global network of offices and resources, including partner evaluation and due diligence.

TECH-

Dubai Future Labs and Japan Science and Technology Agency are teaming up to advance research in cybernetic avatars (CAs), Wam reports. The two sides will focus on projects like controlling multiple avatars using advanced AI, creating culturally adaptable CA robots, and studying how people perceive different types of CAs.

Cybernetic what now? CAs are designed to act as proxies for humans, allowing them to engage in activities even if they’re not physically there using robots and 3D images, according to JST.

AVIATION-

#1- Etihad Airways will increase its flight frequency from Abu Dhabi to Boston to provide daily flights starting 27 October, up from four times a week, according to a statement.

#2- Sharjah Airport doubles down on security screening equipment: The Sharjah Airport Authority (SAA) signed a contract with Nuctech Middle East, a supplier of security inspection systems, to purchase security screening equipment, including 67 X-ray devices, Wam reports. The move comes as part of the airport’s expansion plans.

China is building its war chest for a sovereign bond market intervention

China is gearing up to intervene in its sovereign bond market for the first time in decades as yields on its debt are at record lows, the Financial Times reports. Following weeks of expressing its concern about record-low yields, the People’s Bank of China is now moving to build up firepower to sell CPY hundreds of bns of sovereign bonds as it looks to cool off demand for the paper. The country’s central bank will “continue to borrow and sell the bonds on an open-ended and unsecured basis,” according to the salmon-colored paper.

Demand for the sovereign bonds has been red-hot: Investors have been pouring into China’s sovereign bonds as the country’s economy stumbles due to an ongoing real estate market crisis and volatility in its equities. That’s pushed yields on 10-year bonds below 2.4% for the majority of the year, while the country’s central bank has said that the “ideal range” for yields on these notes is between 2.5-3%.

It’s going to take more than a limited intervention: Although the signaling from the People’s Bank of China has helped to some degree, pundits say the issue is more structural and is unlikely to be resolved entirely through a bond market intervention “unless the intervention is massive.” One Natixis senior economist tells the FT that the People’s Bank of China will likely need to buy up “at least 5% of outstanding government bonds … to make a significant difference.” Altogether, that would be around CPY 1.5 tn worth of bonds.

MARKETS THIS MORNING-

Asian markets are having another mixed morning, with Hong Kong’s Hang Seng index and Japan’s Nikkei both up, as China reports better-than-expected inflation data and Japan’s corporate goods price index rises in line with expectations. South Korea’s Kospi and the ASX 200 are both in the red.

Wall Street futures were little changed in overnight trading after the S&P 500 posted another record close, as traders celebrated Powell’s signals for a potential rate cut soon.

ADX	9,136	0.0% (YTD: -4.6%)
DFM	4,078	-0.1% (YTD: +0.5%)
Nasdaq Dubai UAE20	3,506	+0.1% (YTD: -8.7%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	4.8% o/n	5.3% 1 yr
TASI	11,780	+0.5% (YTD: -1.6%)
EGX30	28,466	+0.2% (YTD: +14.4%)
S&P 500	5,577	+0.1% (YTD: +16.9%)
FTSE 100	8,140	-0.7% (YTD: +5.3%)
Euro Stoxx 50	4.904	-1.3% (YTD: +8.5%)
Brent crude	USD 84.85	+0.2%
Natural gas (Nymex)	USD 2.35	+0.1%
Gold	USD 2,367.90	+0.2%
BTC	USD 57,860.60	+2.9% (YTD: +37.0%)

THE CLOSING BELL-

The DFM fell 0.1% yesterday on turnover of AED 275 mn. The index is up 0.5% YTD.

In the green: Dubai Ins. (+5.1%), Dubai Islamic Ins. and Reins. (+2.8%) and Al Salam Sudan (+1.8%).

In the red: Gulf Navigation Holding (-5.7%), Agility (-4.3%) and Watania International Holding (-2.5%).

Over on the ADX, the index stayed flat on turnover of AED 884.4 mn. Meanwhile Nasdaq Dubai closed up 0.1%.

UAE, Paraguay eye closer ties

President Sheikh Mohamed bin Zayed Al Nahyan held a phone call with Paraguayan President Santiago Peña, where they discussed boosting cooperation in economic, investment, infrastructure, food security, and renewable energy sectors, Wam reports. Both presidents affirmed their commitment to advancing bilateral relations and building partnerships to support sustainable development.

A UAE aid ship is on its way from the UAE to Gaza through the city of Al Arish in Egypt, Wam reports. The ship set sail on Monday from the port of Fujairah and is carrying 5.3k tonnes of humanitarian supplies for Palestians in Gaza.

CALENDAR

JULY

13-18 July (Saturday-Thursday): Asia-Pacific Accreditation Cooperation, Dubai.

31 July (Wednesday): Deadline for Sidara to submit another takeover bid to Wood Group.

AUGUST

3 August (Saturday): UFC Fight Night, Etihad arena, Abu Dhabi.

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.

Signposted to happen sometime in mid-August:

New regulations around telemarketing calls will go into effect

SEPTEMBER

9-11 September (Monday-Wednesday): World Utilities Congress, Abu Dhabi.

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

10-11 September (Tuesday-Wednesday): MENA District Cooling Projects & MENA Cool Forum, Grand Hyatt Dubai, Dubai Healthcare City, Dubai.

11-12 September (Wednesday-Thursday): MENA oil and gas digitization conference, Abu Dhabi.

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

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

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

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

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.

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

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

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.

26-27 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

4-7 November (Wednesday-Saturday): ADIPEC, Abu Dhabi.

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

4-7 November (Wednesday-Saturday): 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.

11-14 November (Monday-Thursday): Abu Dhabi International Petroleum Exhibition & Conference, Abu Dhabi.

11-14 November (Monday-Thursday): ADIPEC Maritime and Logistics Exhibition and Conference, Abu Dhabi.

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

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 (Saturday-Sunday): The Bitcoin Mena Conference, Adnec Centre Abu Dhabi.

9-12 December (Saturday-Thursday): Abu Dhabi Finance Week, Abu Dhabi.

10-12 December (Tuesday-Thursday): Middle East Business Aviation, Dubai World Central.

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

JANUARY 2025

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.

APRIL 2025

16-17 April: Global Ports Forum, 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 2028:

Abu Dhabi to host the 47th Chess Olympiad.

Signposted to happen sometime in 2029:

Dubai to host the International Conference on Computer Vision.

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