FinMin plans AED 5 bn in 1Q debt issuances

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WHAT WE’RE TRACKING TODAY

FinMin plans AED 5 bn in debt issuances in 1Q

Good morning, everyone, and happy Friday. We hope you’re looking forward to the weekend and unwinding with family and friends as much as we are.

THE BIG STORY here at home is the Finance Ministry drawing up plans to issue AED 5 mn worth of bonds and sukuk during the first quarter of the year, after borrowing a total of AED 7.7 bn during all of 2023.

PUBLIC SERVICE ANNOUNCEMENT-

#1- Gov’t extends support to Dubai retirees: Emirati retirees in Dubai are getting incentives for investments, including prioritized assignment to government projects, project financing, private sector collaboration, a five-year service fee exemption, and project consultation, under a new Dubai Retiree Projects Support program, state news agency Wam reports. The program also provides retirees with jobs, with a database launched by the Dubai Police General Command to track their specialties and skills, Wam said. The initiative caters to both current retirees and individuals nearing retirement. Those interested can submit their applications through Dubai SME.

#2- Sharjah Publishing City Freezone is offering an instant license to businesses in the freezone to streamline the business establishment process in the emirate, according to a press release. The service encompasses issuing a business license, a memorandum of association, a lease agreement for obtaining office or business space within the freezone, unlimited work visa quotas, and a share certificate detailing ownership, according to the press release. Businesses can choose up to three license activities from over 1.5k options, it added.

WATCH THIS SPACE-

#1- Red Sea shipping disruptions are spurring demand for air freight: Demand for air freight is rising amid ongoing disruptions to shipping in the Red Sea, with international shipping giants such as Maersk suspending their shipping operations through the Red Sea and the Suez Canal, Asharq Business reports.

Emirates could be one of the beneficiaries: Emirates and Qatar Airways alone accounted for 65% of January’s air cargo shipments in the GCC region, on the back of a shift from ocean to air shipping as companies seek shipping alternatives.

#2- Adnoc, Etihad Rail complete first Abu Dhabi-Al Dhannah rail journey: Adnoc CEO and Industry Minister Sultan Ahmed Al Jaber joined other Adnoc executives in the first passenger journey aboard national rail operator Etihad Rail’s new rail service, connecting Abu Dhabi with the Al Dhannah region, according to a press release. Once operational, the route will help Adnoc employees and contractors commute between the two cities.

HAPPENING NEXT WEEK

Investopia London to kick off next week: Economy Minister Abdulla bin Touq Al Marri is heading a delegation to Britain next week to discuss promoting economic cooperation and investment between the Emirates and the UK’s public and private sectors during the Investopia London event next week, Sharjah24 reports.

DATA POINTS

#1- Dubai South issued 428 new licenses to new companies in 2023, and retained 95% of its existing companies,with 4,101 businesses operating currently in the city, according to a press release.

#2- The Sheikh Zayed Housing Program issued 4,334 housing permits at a cost of some AED 3.3 bn in 2023, according to an Energy and Infrastructure Ministry statement. The permits included 1,025 grants and 3,309 loans and funding permits. The housing program also distributed 801 government houses in residential compounds across Dubai, Sharjah, Ajman, and Ras Al Khaimah last year, with construction underway for 380 additional units in Sharjah’s Al Suyoh 16, and 267 houses in Ajman’s Mohammed bin Zayed City.

#3- Total property transactions in Dubai are up 38% y-o-y in volume to 133k transactions so far this year, in comparison to the same period last year, Mubasher reports, citing Dubai Land Department data. Transactions are valued at some AED 38 bn, divided across AED 26.4 bn in sales, AED 9 bn in mortgages, and AED 2.5 bn in donations. Land sales reached AED 9.7 bn YTD on the back of 900 transactions, according to the data.

ICYMI- Read our explainer on the reasons behind rising property prices and the outlook for the sector over the next year.

#4- The UAE was ranked as having the fourth best infrastructure quality globally in the World Economic Forum’s latest Global Competitiveness Report at Davos, Wam reports. The Energy and Infrastructure Ministry plans to invest AED 9 bn into security, education, service, and roads projects over the next five years, after having invested some AED 13 bn across 258 in projects over the past decade, Wam quotes Minister Suhail bin Mohammed Al Mazrouei as saying. The ministry invested some AED 1.5 bn in 2023 alone in improving government service building infrastructure, Al Mazrouei said.

CIRCLE YOUR CALENDAR-

Emirati real estate developers will be in Sao Paulo, Brazil, for the UAE Property Forum, hosted by the Emirati embassy in Brazil and the Consulate General in Sao Paulo. The exhibition is happening next Monday and Tuesday, 29-30 January at the Tivoli Mofarrej São Paulo Hotel, Brazil, according to a press release.

The Arab Health Exhibition 2024 will kick off next Monday, 29 January and runs through Thursday, 1 February in Dubai. Over 3k companies will be in attendance, including European healthcare and diagnostic software provider Dedalus. The exhibit aims to showcase the latest tech-powered solutions to challenges in the healthcare sector.

Dubai will host the Family Office Roundtable (FORT) Global on Friday, 2 February at the Museum of the Future, according to a press release. The invite-only event will center discussions on the international finance and investment communities, influential family offices, government members and dignitaries, with nearly 10k guests, hailing from over 35 countries.

The Mubadala Abu Dhabi Tennis Open will take place from Saturday, 3 February to Sunday, 11 February at Zayed Sports City’s International Tennis Centre. The tournament will see participation from four-time Grand Slam champion Naomi Osaka, plus Elena Rybakina, Ons Jabeur, Maria Sakkari, and Barbora Krejčíková, reports The National.

Young entrepreneurs can pitch their early education startup ideas at the AbuDhabi Youth Challenge: Techstars Startup Weekend, running for three days from Friday, 2 February, to Sunday, 4 February at Cloud Spaces ADGM in Abu Dhabi. Participants get 54 hours to develop startup ideas under the mentorship of founders and investors, form teams with which they can develop a demo or prototype, and then present their ideas to a panel of judges. The top three teams will get AED 30k.

The Middle East Bunkering Convention will take place from Monday, 5 February through to Wednesday, 7 February at the Hilton Dubai Jumeirah. The event will bring together industry experts to tap into issues affecting the global marine fuel sector, including supply chains, decarbonization, and new fuels.

The UAE Tour Women will take place from 8-11 February starting in Dubai and ending in Abu Dhabi. The event will feature three sprint stages and a mountain climb up Jebel Hafeet, spanning 468 km from Dubai to Abu Dhabi. Riders will compete for the competition’s Red, Green, White and Black jerseys.

The Sustainable Aviation Futures MENA will kick off on Monday, 12 February through to Wednesday, 14 February at Kempinski Central Avenue. The event will see 80 expert speakers and upwards of 200 high level attendants and will handle topics pertaining to regulation, financing, and investments in Sustainable Aviation Fuels (SAF) in MENA.

Dubai will host the World Government Summit from Monday, 12 February, to Wednesday, 14 February. The summit, with a central theme on the daily implications of AI, will include 15 AI-centered conferences and an annual gathering for the Time 100 AI list. OpenAI CEO Sam Altman will be among the speakers headlining the event, Gulf News reports. Over 4k participants from 150 countries are expected to be in attendance.

The UAE will host the Future Warehouse & Logistics 2024 Conference from Monday, 12 February to Wednesday, 14 February in Dubai. The event will handle means for supply chain leaders to boost resilience and overcome challenges, with discussions on disruptions, sustainability, Internet of Things (IoT), automation, workplace management and other topics.

Breakbulk Middle East 2024 will take place from Monday, 12 February, to Tuesday,13 January, in Dubai. The event is being hosted by the Ministry of Energy and Infrastructure to address industry challenges and identify prospects for growth in the UAE, KSA, and East Africa.

The Ras Al Khaimah Half Marathon is returning on Saturday, 24 February, on Al Marjan Island. The World Athletics Gold Label event will welcome athletes, running enthusiasts and amateurs alike. You can register here.

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

FinMin plans to issue AED 5 bn sukuk in 1Q 2024

The Finance Ministry plans to issue some AED 5 bn worth of bonds and sukuk in 1Q 2024, Finance Ministry Undersecretary Younis Haji Al Khoori told Wam at Hong Kong’s Asian Financial Forum, without clarifying the breakdown of the planned issuances. The UAE issued some AED 7.7 bn in debt in 2023, Al Koori added.

Background: In a bid to diversify funding, the Central Bank of the UAE and the Finance Ministry launched the first AED denominated sukuk back in April 2023 as part of the T-Sukuks issuance program, which it listed on Nasdaq Dubai in May 2023. The AED 1.1 bn issuance was 7.6x oversubscribed, after attracting some AED 8.3 bn bids.

Still trying to diversify the budget, and reduce reliance on oil: Al Khoori emphasized the Ministry’s commitment to sustainable financing in softening financial burdens, as well as the implementation of the corporate tax in June 2023.

REMEMBER- The share of AED-denominated issuances and sukuk in the UAE’s debt mix is expected to rise next year, as a result of issuers looking to diversify funding, the implementation of the Central Bank of the UAE’s AED monetary framework, and strong investor demand, including from local banks with solid liquidity, as per Fitch’s 2024 UAE Debt Capital Markets Dashboard report. The AED monetary framework is an initiative launched in 2017 to manage the Emirates’ money markets and the AED exchange rate, and maintain the peg to the USD.

IN OTHER DEBT NEWS-

UAE leads green bond issuances in the GCC, Bloomberg says: Green, social, sustainable, and sustainable-linked bonds issuances in the Emirates soared 170% y-o-y in 2023 to USD 10.7 bn (c. AED 39.3 bn), ranking the UAE the top issuer in the MENA region with 45% of the MENA region’s total issued green bonds, according to Bloomberg data picked up by Alb ayan. Regionally, green and sustainable bond issuances surged 155% y-o-y to hit a record high of USD 24 bn, (c. AED 88.14 bn).

The Emirati green bond and sukuk market saw 11 new issuers, including DP World with a USD 1.5 bn sukuk issuance; the Sharjah government, with a USD 1 bn sukuk issuance; Taqa with a USD 1.5 bn bond issuance; Mubadala with a USD 750 mn green bond issuance; and others.

Maqta Gateway inks shareholder agreement to provide Aqaba port with digital system

Maqta Gateway, Aqaba finalize shareholder agreement ahead of port developments: AD Ports Group subsidiary Maqta Gateway and Jordan’s central development arm Aqaba Development Corporation (ADC) inked a shareholder agreement yesterday, granting Maqta Gateway a majority 51% stake in the entities’ JV company, Maqta Ayla, as part of a port development agreement, according to an AD Ports Group statement. Aqaba will hold a 49% stake in the JV under the agreement.

Background: Maqta Gateway and ADC signed the agreement to establish the JV in December 2021. The new entity plans to upgrade Aqaba port’s operations with a port community system, marking what AD Ports says is the first ever export of Maqta Gateway’s port digitization solution. The system will streamline communication and transactions between terminal operators and authorities.

The timeline: The system will kick off operations within one year, and is expected to save emissions worth 90k in-person visits, according to the statement.

AD Ports has bigger plans for Aqaba: The Emirati port developer had also agreed to develop a 1.2 mn sqm of Marsa Zayed land with a cruise terminal, as well as develop a new airport — dubbed King Hussein International Airport — and develop and modernize a multi-purpose port.

Emirates NBD continues banks’ record earnings trend with record profits in 2023

Emirates NBD’s net income rose 65% y-o-y to AED 21.5 bn in 2023, according to an earnings release (pdf). Revenues stood at AED 43 bn in 2023, up 32% y-o-y. On a 4Q basis, the lender’s net income inched up 3% y-o-y to AED 4 bn. The surge is attributed to “asset growth, a stable low-cost funding base, increased transaction volumes and substantial impaired loan recoveries,” according to the release.

Breakdown: The bank achieved its highest annual funded and non-funded income, with an asset growth of 16% y-o-y to AED 863 bn and a healthy deposit mix seeing AED 82 bn in growth. The profitability of the corporate and institutional banking segment doubled, with corporate lending witnessing an 18% y-o-y increase. Global markets and treasury also reported a doubled net income of AED 3.4 bn, driven by “favorable balance sheet positioning and higher banking book investment income,”

Looking ahead: Emirates NBD currently operates 15 branches in Saudi Arabia and aims to expand to 24 branches by 2025, according to the statement.

Dividend: The board is suggesting a dividend of 100 fils, along with an additional 20 fils in celebration of the bank’s 60th anniversary, doubling the dividend from the previous year.

ALSO-The bank’s Islamic finance arm also saw bumper earnings during the year:Dubai-based Emirates Islamic saw its bottom line grow 71% y-o-y to a record AED 2.12 bn in 2023, driven by an increase in both funded and non-funded income, according to an earnings release (pdf). Emirates Islamic’s total income also rose50% y-o-y to AED 4.8 bn, driven by financing expansions and increased transactions.

Solid liquidity + deposit growth: Emirates Islamic saw its total assets increase 18% y-o-y to AED 88 bn, while deposits grew 9% y-o-y to AED 61.3 bn. Current and savings account balances accounted for 76% of total deposits, the bank said.

Sukoon Ins.’ net income fell 0.74% y-o-y to AED 257.4 mn in 2023, according to the company’s preliminary financial results. The company’s ins. revenues rose 19.9% to AED 4.6 bn during the year.

Majid Al Futtaim to offer up facilities to train disabled athletes for Special Olympics + DoH hires 1.2k+ Emiratis in national hire push. PLUS: Awards for Paymentology + ADJD

Special Olympics UAE, Majid Al Futtaim to gear disabled athletes for the 2025 Winter Olympics: Majid Al Futtaim Entertainment will provide its Ski Dubai and Snow Abu Dhabi indoor facilities to snow sports athletes with intellectual and developmental disabilities for year-round training purposes, under an agreement with Special Olympics UAE, reports Wam. Ski Dubai instructors will also offer the athletes training, with assistance from Special Olympics UAE on how to interact effectively with disabled individuals.

Over 1.2k Emirati medical professionals have started working at Abu Dhabi’s Department of Health (DoH) since the DoH launched its Tawteen initiative for the healthcare sector six months ago, according to a statement. The Tawteen initiative saw the DoH’s national workforce increase 12% y-o-y, achieving a considerable target of the department’s Emiratization goal of hiring 10k Emiratis in the health sector within five years.

The Abu Dhabi Judicial Department has secured the 2023 Cloud Infrastructure Innovation Award from US-based cloud computing company VMware, in recognition of its use of cloud technology in the Emirate’s justice system, Wam reports. More than 80% of their servers are cloud-based, according to the news agency.

ALSO WORTH NOTING-

Digital Dewa subsidiary Moro Hubhas awardedfintech company Paymentology a green certificate due to its employment of Moro Hub’s green data centers to reduce carbon footprints in IT workloads, according to a press release.

Global technology ecosystem accelerator Hub71 appoints new leaders

Hub71 makes leadership changes: Global technology ecosystem accelerator Hub71 promoted Ahmad Ali Alwan (LinkedIn) from deputy CEO to CEO, effective this month, according to a press release. Alwan joined the company as a founding manager in 2019 after being part of Mubadala’s UAE clusters asset management team and launching Abu Dhabi Catalyst Partners in 2019.

The accelerator also appointed Basma Ahmed AlBadi AlDhaheri (LinkedIn) as head of value creation, Hashem Al Kaabi (LinkedIn) as head of operations and corporate services, Mohammed Alkhoori (LinkedIn) as head of marketing and communications, and Peter Abou Hachem (LinkedIn) as head of growth and strategy.

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Chinese asset managers seek Dubai licenses

More Chinese asset managers are applying for operational licenses in Dubai as China-US tensions continue to brew and China’s ties warm with the Middle East , Dubai Financial Services Authority (DFSA) CEO Ian Johnston told Reuters. The DFSA, previously dominated by interest from China’s big commercial banks, is also seeing more wealth managers and family offices from Hong Kong and Singapore set up offices in the emirate, while Dubai and Chinese bourses are also looking at partnering on exchange-traded funds (ETF) and index products, Johnston told Reuters.

Mubadala eyes green hydrogen exports to fuel cell rigs in Europe + Sharjah developer doubles sales in 2023. PLUS: More logistics, trade, education, hospitality and investment news

GREEN ENERGY-

#1- Masdar inks agreement to supply green hydrogen to European trucks: Abu Dhabi-based renewables firm Masdar inked an initial agreement with German vehicle manufacturer Daimler Truck to explore supplying liquid green hydrogen to power fuel cell rig trucks in Europe by 2030, according to a statement from Masdar. The agreement could potentially “enable a significant reduction of CO2-emissions in road freight transport in Europe,” while supporting “the UAE’s ambition to become a leader in the low-carbon hydrogen market by 2031,” Masdar CEO Mohamed Jameel Al Ramahi said.

Background: Masdar has pledged investments in projects worth some USD 30 bn, with plans to hit a production capacity of 100 GW by 2030 .

SOUND SMART- A fuel cell is a power generator that converts chemical energy into electrical energy from hydrogen or hydrocarbon. The technology is primarily used in heavy vehicles and mobile electricity generators.

#2- Dubai-based floating energy structures startup Floating Man is in talks to launch a new floating solar power plant,CEO Mehdi Honarvar told PV magazine. The company is currently negotiating to find a suitable location to install the offshore solar farm, which will operate with 200 solar panels with a generating capacity of up to 700 W.

REAL ESTATE-

Sharjah-based property developer Arada saw its sales double to AED 7.02 bn in 2023, bringing the total value of sales since its launch to AED 16.3 bn, according to a press release. The developer sold 2,824 homes, up 25% y-o-y, and constructed 2,610 units in its most popular communities — the Aljada mixed-use community and Masaar forested master community — last year. The latter was the company’s best-performing project, collecting AED 3.64 bn in sales. Aljada and Arada’s Dubai development, Jouri Hills at Jumeirah Golf Estates, followed with property sales collectively valued at AED 3.41 bn.

Up next: Arada is developing 3.3k new residences across its Aljada, Masaar, and Jouri Hills developments, targeting AED 10 bn in sales by the end of the year.

TRADE-

#1- Abu Dhabi and Italy eye trade boost: The Abu Dhabi Chamber of Commerce and Industry (ADCCI) discussed strengthening bilateral trade and investment between the emirate and Italy during a meeting held with a high-level Italian business delegation, according to a statement from ADCCI. The Italian delegates represented 12 companies across key sectors, including F&B, construction, fashion, marketing, marine, and aquaculture industries. The meeting saw the Chamber and the delegation identify more than 120 potential partnership prospects.

#2- Energy Ministry eyes more cooperation with JETRO: Energy Ministry officials met with a delegation from JETRO in Abu Dhabi on Thursday and discussed ways to strengthen joint cooperation, according to a ministry statement. The meeting also involved a review of the ministry’s mineral wealth strategy and potential for mining in the UAE.

EDUCATION-

DP World has launched its global education platform as part of a USD 35 mn education pledge to help train students and educators in science and logistics without charge, according to a company statement. The company pledges to teach 1.5 mn students through more than 15 specialized resources and e-learning courses tailored for individuals aged 11-18, as well as educators and professionals, according to a Dubai media office statement.

INVESTMENTS-

Abu Dhabi, Apollo Global Management seek more avenues for investment collaboration: Crown Prince Khaled bin Mohamed bin Zayed Al Nahyan and private equity firm Apollo Global Management CEO Marc Rowan reviewed their joint investments yesterday and explored further avenues for collaboration, according to an Abu Dhabi Media Office statement. Mubadala Investment Company’s deputy group head, Waleed Al Mokarrab Al Muhairi, and Abu Dhabi Executive Council secretary general, Saif Saeed Ghobash, were also in attendance.

ESS + Siemens + Emerson to join forces: Abu Dhabi-based tech solutions firm Emirates Smart Solutions (ESS) inked a cooperation protocol with Siemens Egypt and US software provider Emerson to provide tech solutions to enhance Egypt’s industrial infrastructure as the companies eye ramping up their investments in Egypt and Africa, Albayan reports.

LOGISTICS-

GulfNav gets drones from Wings Logistics Hub: Multi-Level Group’s smart logistics company Wings Logistics Hub will provide DFM-listed maritime and shipping company Gulf Navigation Holding with drones to help with “transporting light cargo, heavy cargo, passenger drones, firefighting, mapping and surveillance,” under an MoU inked by the two companies, according to a press release. The agreement also involves exploring autonomous light vehicles, and AI solutions in maritime.

AVIATION-

Air Arabia launches direct flights between Sharjah and Athens: Budget airline Air Arabia will now fly directly from Sharjah to Athens four times a week from Sharjah International Airport starting 28 June, the carrier said in a statement.

HOSPITALITY

IHG to operate Dubai Côte d’Azur Monaco Hotel: IHG Hotels and Resorts signed an agreement with Dubai’s island resort, The Heart of Europe, Kleindienst Group ’s flagship project, to operate the Côte d’Azur Monaco Hotel under the voco brand and rebrand the hotel as voco Monaco Dubai, according to a press release.

US economy posts higher-than-expected growth in 2023

The US economy posted 3.3% growth in 4Q 2023, closing the year with its economy expanding at a 2.5% clip. That’s significantly higher than analyst expectations, which economists had put at 2.0%, with some economists expecting growth as low as 0.8%, according to Reuters. Growth was driven primarily by consumer spending.

What does that mean for interest rates? The Fed probably won’t cut rates quite yet. “The strong economic performance, which appears to have spilled over into the new year, suggested that March would be too soon for the US central bank to start cutting interest rates,” Reuters said. However, there is room for rate cuts this year as US inflation decelerates, the newswire says.

ADX	9,626	-0.3% (YTD: +0.5%)
DFM	4,173	-0.2% (YTD: +2.8%)
Nasdaq Dubai UAE20	3887	-0.5% (YTD: +1.2%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	4.9% o/n	5.1% 1 yr
TASI	12,161	-0.1% (YTD: +1.6%)
EGX30	27,666	+0.3% (YTD: +11.1%)
S&P 500	4,876	+0.2% (YTD: +2.4%)
FTSE 100	7,529	0% (YTD: -2.6%)
Euro Stoxx 50	4,582	+0.4% (YTD: +1.4%)
Brent crude	USD 82.24	-0.2%
Natural gas (Nymex)	USD 2.61	+1.3%
Gold	USD 2,040.70	+0.2%
BTC	USD 40,162.25	+0.5% (YTD: -8.7%)

THE CLOSING BELL-

The ADX fell 0.3% yesterday on turnover of AED 995.1 mn. The index is up 0.5% YTD.

In the green: The National Investor (+14.9%), National Company for Tourism and Hotels (+4.7%) and National Bank of Ras Al Khaimah (+4.4%).

In the red: Commercial Bank International (-10.0%), Hayah Ins. (-7.9%) and Julphar (Gulf Pharmaceutical Industries) (-6.3%).

Over on the DFM, the index closed down 0.2% on turnover of AED 457.2 mn, while Nasdaq Dubai fell 0.5%.

UAE, Malaysia ink agreement for Malaysian data centers + Kuwaiti PM invited to World Governments Summit

The UAE will develop data centers in Malaysia with a total capacity of 500 MW, according to a statement by the Malaysian Ministry of Investment, Trade, and Industry. The countries inked an agreement yesterday to collaborate in the digital infrastructure sector.

We’ve extended an invite to Kuwait for the World Governments Summit: UAE Ambassador to Kuwait Matar Hamed Al Neyadi invited Kuwaiti Prime Minister Mohammad Sabah Al Salem Al Sabah to the World Governments Summit 2024, scheduled to take place from 12-14 February in Dubai, in a meeting yesterday, according to a Ministry of Foreign Affairs statement.

CALENDAR

JANUARY

22-26 January (Monday-Friday): WED Innovation Lab, Abu Dhabi’s Yas Acres Golf and Country Club.

26 January (Friday) International Day of Clean Energy

26-28 January (Friday-Sunday): Dubai Challenge Cup, Al Maktoum Stadium, Dubai.

29 January-1 February (Monday-Thursday): Arab Health Exhibition 2024, Dubai World Trade Centre.

29 January-30 January (Monday-Tuesday): UAE Property Forum, Tivoli Mofarrej São Paulo Hotel, Brazil.

31 January-6 February (Wednesday-Tuesday): Emirates LitFest, InterContinental Hotel Festival City.

FEBRUARY

1 February (Thursday): New amendments banning trucks weighing over 65 tonnes to take effect.

1-15 February (Thursday-Thursday): InClassica Dubai International Music Festival 2024, Dubai Opera.

2-4 February (Friday-Sunday): Sharjah Classic Cars Festival.

2-4 February (Friday-Sunday): All Africa Festival Abu Dhabi.

2-4 February (Friday-Sunday): Abu Dhabi Youth Challenge Techstars Startup Weekend, ADGM, Abu Dhabi.

3-11 February (Saturday-Sunday): Mubadala Abu Dhabi Opening, Zayed Sports City’s International Tennis Centre.

5-7 February (Monday-Wednesday): Middle East Bunkering Convention, Dubai, UAE.

5-8 February (Monday-Thursday): Medlab Middle East, Dubai.

6-7 February (Tuesday-Wednesday): The Middle East ProcureTech Summit, Dubai, UAE.

7-8 February (Wednesday-Thursday): Sharjah Investment Forum, Al Jawaher Reception and Convention Centre.

8-9 February (Thursday-Friday): International Crop-Science Conference & Exhibition 2024, JW Marriott, Marquis Dubai.

8-11 February (Thursday- Sunday): The UAE Tour Women.

9 February (Friday): Abu Dhabi International Airport to be renamed to Zayed International Airport.

12-13 February (Monday-Tuesday): Breakbulk Middle East conference, Dubai Trade Centre.

12-14 February (Monday-Wednesday): World Government Summit, Dubai.

12-14 February (Monday-Wednesday): Sustainable Aviation Futures MENA Congress, Hotel Dubai Mall.

12-15 February (Monday-Thursday): Future Warehouse & Logistics, Dubai, UAE.

19-23 February (Monday-Friday): Gulfood 2024, Dubai World Trade Centre.

20-21 February (Tuesday- Wednesday): International Dialogue of Civilizations and Tolerance Conference, Abu Dhabi National Exhibition Centre.

22-24 February (Thursday-Saturday): International Freight Forwarders Conference 2024 Dubai, Hyatt Hotel.

23-25 February (Friday-Sunday): Taste of Dubai Festival, Skydive Dubai.

23 February – 3 March (Friday-Sunday): Maritime Heritage Festival Abu Dhabi.

24 February (Saturday): Ras Al Khaimah Half Marathon, Al Marjan Island.

26-28 February (Monday-Wednesday): Management and Sustainability of Water Resources, Marriott Hotel Al Jaddaf.

27-28 February (Tuesday-Wednesday): Dubai Association Centre Conference, Dubai World Trade Centre.

26-29 February (Monday-Thursday): World Trade Organization Ministerial Conference, Abu Dhabi, UAE.

28-29 February (Wednesday-Thursday): Ras Al Khaimah Investment and Trade Summit, Rak Exhibition Centre.

28-29 February (Wednesday-Thursday): UAE delegation attends ‘Invest in Austria’ conference, Vienna.

28 February – 1 March (Wednesday-Friday): MENA Transport Congress and Exhibition 2024, Dubai.

29 February-3 March (Thursday-Sunday): Gov Games, Dubai Festival City, Dubai.

MARCH

5-6 March (Tuesday-Wednesday): MRO Middle East, Dubai Trade Centre.

5-7 March (Tuesday-Thursday): World Police Summit, Dubai World Trade Centre.

5-7 March (Tuesday-Thursday): Dubai Entertainment Amusement & Leisure Exhibition, Dubai World Trade Center.

5-8 March (Tuesday-Friday): Forbes’ Third Annual 30/50 Summit In Abu Dhabi During International Women’s Day

12 March (Tuesday): Start of Ramadan, public holiday.

APRIL

11 April (Thursday): End of Ramadan, public holiday.

12 April (Friday): Eid Al-Fitr, public holiday.

16-18 April (Tuesday-Thursday): World Future Energy Summit, Abu Dhabi National Exhibition Centre.

16-18 April (Tuesday-Thursday): Middle East Coatings Show, Dubai World Trade Centre.

16-18 April (Tuesday-Thursday): Middle East Energy, Dubai World Trade Centre.

23-25 April (Tuesday-Thursday): Connecting Green Hydrogen MENA, Madinat Jumeirah Conference Centre.

24-26 April (Wednesday-Friday): Global Education & Training Exhibition.

MAY

8-9 May (Wednesday-Thursday): Innovative Finance Expo, Jumeirah Emirates Towers.

14-15 May (Tuesday-Wednesday): Seamless Middle East, Dubai World Trade Centre.

JUNE

2-4 June (Sunday-Tuesday): The World Air Transport Summit and International Air Transport Association (IATA)’s annual general meeting, Dubai.

4-6 June (Tuesday-Thursday): The Hotel Show, Dubai World Trade Centre.

4-6 June (Tuesday-Thursday): INDEX, Dubai World Trade Centre.

4-6 June (Tuesday-Thursday): WORKSPACE, Dubai World Trade Centre.

4-6 June (Tuesday-Thursday): Leisure Show, Dubai World Trade Centre.

15 June (Saturday): Arafat day, national holiday.

16-18 June (Sunday-Tuesday): Eid Al-Adha, national holiday.

JULY

7 July (Sunday): Islamic new year, national holiday.

SEPTEMBER

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

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

OCTOBER

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

NOVEMBER

11-14 November (Monday-Thursday): ADIPEC, Abu Dhabi.

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

11-14 November (Monday-Thursday): ADIPEC Decarbonisation Accelerator, Abu Dhabi.

DECEMBER

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

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

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