Foreign trade hit an all-time high in 1H 2024

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WHAT WE’RE TRACKING TODAY

THIS MORNING: UAE to attend Development Road summit later this week + NMDC greenlights EPC unit IPO

Good morning, wonderful people. It’s officially back-to-school season, and judging by the amount of crowds at the malls this weekend, the country seems back at full capacity.

We have a brisk issue for you this morning, led by news of our foreign trade reaching new records in 1H 2024, and the Abu Dhabi Investment Authority submitting a final bid as part of a consortium for DB Schenker.

BUT FIRST- We have big news for you this morning: EnterpriseAM UAE is now available in Arabic, with the first issue sent shortly after this one. Tap or click here to subscribe and get EnterpriseAM UAE in Arabic directly to your inbox everyday before 8am.

PUBLIC SERVICE ANNOUNCEMENTS-

#1- REMINDER- Resident legal entities with licenses issued in June of any year should submit their corporate tax registration applications by the end of August, the Federal Tax Authority said on X. Registrations can be made via the EmaraTax digital tax services platform, or through accredited tax agents and government service centers across the UAE. Corporates with multiple licenses should register using the license with the earliest issuance date.

#2- Emirates, Etihad Airways, and flydubai canceled and diverted Tel Aviv and Beirut flights yesterday following an exchange of fire between Israel and Hezbollah that resulted in the closure of Israel’s Ben Gurion airport, Khaleej Times reported. “Flights today are currently scheduled to operate following the reopening of Ben Gurion Airport. We will continue to monitor the situation closely and amend our schedule accordingly,” a flydubai spokesperson was quoted as saying by the outlet. Israel's Civil Aviation Authority said on Sunday that flights to and from Ben Gurion Airport in Tel Aviv resumed following a short suspension amid Israeli military strikes in Lebanon.

ICYMI- Israel carried out what it said was a pre-emptive attack on Hezbollah sites in southern Lebanon, striking Lebanon with around 100 warplanes that took out thousands of rocket launchers. Hezbollah responded by launching hundreds of rockets and drones at Israel targeting 11 army barracks and military sites in northern Israel, in what it said was the start of its retaliation for the killing of its commander on 30 July at the hands of Israeli forces. An Israeli military spokesman said that Israel’s operation in Lebanon is “over for now,” while Hezbollah said that the rest of its retaliation would take “some time.”

HAPPENING THIS WEEK-

#1- The UAE will attend Turkey’s Development Road Summit on Thursday to discuss the possible USD 20 bn project aimed at connecting the Iraqi port of Basra to the Persian Gulf to Turkey, Al Monitor reported, citing Turkish Transport Minister Abdulkadir Uraloglu’s Friday remarks. The quadripartite summit — which will also see the participation of Iraq and Qatar — will discuss the details of the project.

REMEMBER- The UAE, Iraq, Turkey, and Qatar signed a preliminary agreement back in April to work together on the Development Road project in Iraq, which aims to connect a significant commodities port on Iraq's southern coast — the Grand Faw Port — to Turkey's border via rail and road networks.

#2- Emirati cyclist Ahmed Al Badwawi and track and field athlete Maryam Al Zeyoudi will be among 14 athletes participating in the Paris 2024 Paralympic Games, Al Etihad News reported. Al Badwawi will be participating for the first time, while 2023 Asian Games athletics champion Al Zeyoudi will make her second appearance. The UAE is participating with 14 athletes in shooting, athletics, weightlifting, judo and cycling.

WATCH THIS SPACE-

#1- NMDC Energy’s IPO gets the board’s nod: The National Marine Dredging Company (NMDC) Group ’s board approved a plan to IPO its EPC unit NMDC Energy on the Abu Dhabi Securities Exchange (ADX), according to a bourse disclosure (pdf).

What’s next? The proposal is now pending regulatory approvals from the Securities and Commodities Authority and the ADX. Details on the size or value of the IPO have not been disclosed.

#2- Rents in some areas of Abu Dhabi could jump as high as 30% in the wake of the rental index launch, Khaleej Times reported, citing industry experts. However, the adjustments, expected in areas where rates are below the market average, are expected to take place gradually, as Abu Dhabi has a 5% cap on rent hikes when contracts are renewed.

What they said: “While the rental index may help identify areas where prices are significantly out of line with market norms, it’s unlikely to cause dramatic shifts in rental rates. Instead, it can serve as a valuable tool for both tenants and landlords to negotiate fair prices and make informed decisions,” Metropolitan Capital Real Estate’s CEO Evgeny Ratskevich said.

Background: The Abu Dhabi Real Estate Centre rolled out its rental index last week, providing indicative quarterly rental pricing and data on residential, commercial, and industrial properties in the emirate.

#3- UAE-Saudi consortium backs out of plan to redevelop central Cairo landmark building: A consortium of Al Shafar General Contracting (ASGC) Group and Saudi Egyptian Developers (SED) has backed out of an agreement to work on the USD 5 bn redevelopment of Egypt’s former National Democratic Party (NDP) headquarters in central Cairo due to increased construction costs following the EGP float, Asharq Business reports, citing an unnamed official within the consortium. The redevelopment plan came with a price tag of USD 5 bn to be invested in a 7-star, 220-meter high hotel, residential buildings, and a multi-storey garage.

The why: The consortium’s share in its partnership with the Sovereign Fund of Egypt — which was tied to land and building prices — was altered following the currency's depreciation and the resulting surge in raw material and energy prices.

The two companies could still end up developing the project if their shares in the project are adjusted, the consortium source noted.

DATA POINTS-

#1- Demand for Dubai’s short-term rental market climbed 30% y-o-y over the past year, driven by growing tourism and a shift towards “flexible living options,” Myles Rothwell, Managing Director at Edwards and Towers, said in a Property Finder report picked up by Zawya. The uptick offered real estate investors annual yields of up to 20%, compared to long term rentals offering around 7% on average, Rothwell added.

The rental market’s growth is unlikely to slow down, with the anticipated influx of visitors to the emirate during winter expected to keep short-term rentals in demand, the report read. In addition, digital nomads seeking short-term rentals as remote work grows is expected to keep demand levels on the rise, General Manager at Blueground Nina Klishevich said.

Could the rental market boom spur M&A activity? While the short-term rental market is rapidly growing, the top five real estate firms account for less than 10% of the offerings, which could see consolidation activity growing within the next two years, Klishevich forecasts.

#2- UAE national carriers now serve 606 destinations, up 3.4% y-o-y, with strong tourism and business reputation, as well as increased travel demand, driving national carriers to expand their routes and destinations, Wam cites the General Civil Aviation Authority (GCAA) as saying. Emirates flies to the biggest number of destinations, serving over 144 routes, followed by Air Arabia (218), flydubai (125), Etihad Airways (79), and Wizz Air Abu Dhabi (40).

The GCAA predicts passenger traffic will hit 140 mn this year, after increasing 14.2% y-o-y in 1H 2024 to 71.8 mn passengers, Wam reports. Etihad Airways aims to expand its network to 125 destinations by 2030 to meet the demand, targeting some 33 mn passengers annually.

THE BIG STORY ABROAD-

There are two stories capturing the attention of the global press this morning: An escalation of aggression between Hezbollah and Israel, and Telegram CEO Pavel Durov’s arrest in France.

MEANWHILE IN FRANCE- Dubai-based Telegram founder and CEO Pavel Durov was arrested in France yesterday on several charges, including charges related to the spread of illicit material and misinformation on Telegram due to inadequate moderation and “a lack of cooperation with police.” Telegram said in a statement on X that the platform “abides by EU laws, including the Digital Services Act — its moderation is within industry standards and constantly improving.” (Reuters | Bloomberg | New York Times | Financial Times)

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MARKET WATCH-

OPEC+ faces a difficult decision on whether to boost oil production next month or keep it steady, given “concerns” about the fuel consumption outlook and increased output from other nations, according to Reuters. Last month, the group opted to maintain current production levels while assessing the effects of existing cuts, and had earlier agreed to ease the cuts starting October 2024.

Foreign trade hit an all-time high of AED 1.395 tn in 1H

The UAE’s foreign trade increased by 11.2% y-o-y in 1H 2024, reaching an all time high of AED 1.395 tn, according to data published by the UAE media office. The country aims to achieve AED 4 tn in foreign trade by 2031, Prime Minister Sheikh Mohammed bin Rashid Al Maktoum said on X.

Non-oil exports rose 25% y-o-y in 1H 2024 to AED 256.4 bn, with Al Maktoum saying the target is to raise non-oil foreign trade to AED 3 tn by the end of the year.

The breakdown: Non-oil exports to its top 10 trade partners increased by 33.4% y-o-y in 1H 2024, while exports to other countries rose by 12.6%, Wam reported. Exports of gold, jewelry, cigarettes, oils, aluminum, copper wires, printed materials, silver, iron industries, and perfumes saw 36.8% y-o-y growth during the six-month period. Other goods grew by 1% y-o-y.

Non-oil imports increased 11.3% y-o-y during the six-month period to AED 800 bn, with a large share of the imports being re-exported. Imports from the UAE’s top ten markets increased 7.2%, comprising 48.7% of total imports, while imports from other countries grew by 15.4% y-o-y.

Main trading partners: The UAE’s trade with Iraq grew 41% y-o-y in 1H 2024, making it the top destination for UAE exports, followed by India, which saw trade increase 10% y-o-y, and Turkey, which saw an increase of 15%.

Re-exports grew 2.7% y-o-y in 1H 2024 to AED 345.1 bn, with main trading partners including Saudi Arabia, Iraq, India, USA, Kuwait, Qatar, and Kazakhstan. Telephones and diamonds were the main re-exported goods, with the highest growth seen in re-exports of aircraft parts, cars, and goods transport vehicles.

Adia-backed consortium offers EUR 14 bn to take over DB Schenker

The Abu Dhabi Investment Authority (Adia) continues to make headway with overseas acquisitions, finalizing its bid alongside CVC for DB Schenker and potentially backing French buyout firm PAI Partners’ bid for Sanofi’s consumer health unit.

#1- CVC and competing DSV offer matching EUR 14 bn bids to snag DB Schenker: A consortium comprising CVC Capital Partners, Adia, and Singapore’s GIC, submitted a EUR 14 bn bids to acquire DB Schenker, the logistics subsidiary of Germany's Deutsche Bahn, alongside competing bidder Danish transport company DSV, Bloomberg reports, citing sources familiar with the matter.

We knew this was coming: Bloomberg reported earlier that the two parties were expected to offer their final bids in August after Deutsche Bahn shortlisted them following shipping giant Maersk’s withdrawal from the race.

Background: CVC formed the consortium with Adia and GIC in May. Deutsche Bahn — which kicked off the sale process in December — is expected to close the transaction in 2025.

The CVC consortium has more to offer: The private equity firm separately submitted another option for the German government to reinvest in the logistics firm for a 25% stake, potentially taking the value of the bid to EUR 16 bn, according to the sources. The Adia-backed consortium intends to list DB Schenker on the Frankfurt Stock Exchange, Reuters reports, citing people in the know. CVC has also pledged to keep the company’s headquarters in Germany and preserve the DB Schenker brand. In contrast, a competing bid from DSV could lead to potential layoffs and the closure of some locations, sources said.

What’s next? Deutsche Bahn is currently reviewing the offers and will discuss CVC’s offer with the German government, with a decision expected in the coming weeks. The railway company and the government are likely to renegotiate the terms of the final bids with the two consortiums, a source told Bloomberg. “The most important criterion remains that a sale must be economically advantageous for the railway,” a spokesperson for Deutsche Bahn told Reuters.

This would not the first acquisition by CVC and Adia this year: A consortium comprising Abu Dhabi Investment Authority’s (Adia) subsidiary Platinum Ivy, private equity firm CVC Capital, and Sweden’s Nordic Capital acquired 100% of UK Hargreaves Lansdown for GBP 5.4 bn after the investment firm accepted the consortium’s final formal offer earlier this month.

The story also got ink in the Wall Street Journal

#2- PAI taps Adia to back its Sanofi bid: French buyout firm PAI Partners is in talks with Adia and Singapore’s GIC to get their backing for its bid to acquire Sanofi’s consumer health unit, Bloomberg reports, citing sources familiar with the matter. PAI is currently competing with US-based firm Clayton Dubilier & Rice, which is set to submit a binding offer ahead of a deadline in September.

Potential transactions could value Sanofi’s unit at up to EUR 15 bn. However, since negotiations are ongoing, the bidders and supporting consortiums may still change. The transaction is expected as early as 4Q 2024.

REFRESHER- This is not the first time a bidder targets Adia for support for the French firm: The Emirati sovereign wealth fund was approached by US-based private equity firm Advent International in July to back its bid for Sanofi’s consumer health unit. The initial offers by Advent and other bidders were expected by mid-July, though there’s been no word on a final bid from the company or on the conclusion of negotiations with Adia.

Sanofi is “keeping all options open” and could still potentially opt to IPO the unit, as it is concurrently preparing for the share float, according to sources familiar with the matter. The French pharma giant is aiming to reach a decision in the coming month.

Sanofi won’t exit the unit post-sale: Sanofi is expected to retain a minority stake in its consumer health division, which would reduce the capital commitment required from the bidders, sources told Bloomberg.

REMEMBER- Another Adia + PAI transaction is in the works: The sovereign wealth fund is mulling investing at least EUR 1 bn in Froneri, PAI’s ice cream JV with Nestlé, which owns brands including Haagen-Dazs. The investment would potentially value Froneri at over USD 10 bn, with PAI looking to retain its 50% stake in Froneri for longer, as it seeks new investors for a continuation fund, which could also see it sell a minority stake to a long-term investor.

AzurX Space Ventures invests AED 25.7 mn in UK-based Space Intelligence

Dubai-based AzurX Space Ventures leads Series A funding round for UK’s Space Intelligence: UK-based sustainability data analytics startup Space Intelligence closed a AED 25.7 mn Series A funding round led by Dubai’s AzurX Space Ventures, the National reports. Intercontinental Exchange, Inc. also participated in the round, according to a press release (pdf).

Where the money is going: The funding will be used to expand Space Intelligence's mapping data and insights on global forest cover across more regions and time periods, co-founder and CEO of Space Intelligence Murray Collins said.

The startup plans to expand its dataset coverage to 35 additional countries by the end of 2Q 2025, potentially becoming the largest audit-grade nature mapping dataset available. It also plans to launch new data products in 4Q 2024, the statement said.

About the startup: Founded in 2017, Space Intelligence is a data analytics company that uses satellite remote sensing to measure biomass and tackle climate change by combating deforestation and promoting forest regrowth. Its library of nature data and insights currently spans over 640 mn hectares.

Ajman Bank has a new executive vice president CHRO

Ajman Bank appointed Hend Al Ali (LinkedIn) as its new chief human resources officer, according to a company statement. Al Ali boasts over 24 years of experience in the banking industry, including serving as group chief human resources officer at Network International Before that, and holding key leadership positions at Citibank and Mashreq, where she specialized in recruitment, Emiratization, and human capital development.

Investments in Africa + in UAE’s AI sector in the spotlight

The UAE has become Africa’s fourth largest investor, with investments in the continent growing nearly fivefold over the past two decades, the Financial Times reports. Its cumulative investments have neared USD 60 bn over the past decade, the FT writes in its look at the global shift towards Africa amid China’s waning influence in the continent.

MEANWHILE- CNBC is the latest to look at Microsoft’s USD 1.5 bn investment in IHC-backed G42, spotlighting how it indirectly grants the US an edge in its tech race with China, thanks to the UAE's favorable regulatory environment and state-capitalist governance driving “faster AI innovation.”

The US’ investment in the country means China “is less likely to be there,” a tech analyst told CNBC. Still, “Microsoft investing in AI in the UAE should be viewed positively by the tech community, as well as western governments,” the analyst said, adding that “in 10 years, you could see a bustling start-up community in the UAE where AI innovation happens.”

Also making headlines:

Abu Dhabi’s “massive construction boom” and projects to transform its skyline with new museums and residential developments get ink, with, as the emirate makes a 10 bn push to ramp up tourism and cultural activities in the emirate. (Bloomberg)
Dubai-based White Fox Ship Management was one of 400 global entities sanctioned by the US Treasury Department for its involvement with Russia. (Statement)

First district-liquid cooled data center in the UAE

TECH-

The UAE gets its first direct-liquid cooled HPC data center: Dubai-based Khazna Data Centers partnered with US cloud service provider Hewlett Packard Enterprise to build the UAE’s first direct-liquid cooled (DLC) data center, capable of handling AI tech and high-performance computing, according to a statement from Hewlett. The DLC data center is estimated to enhance performance by 20.7% per kilowatt compared to traditional air-cooled systems.

Khazna is a well-known player in the UAE data center sector: Khazna operates 12 data centers across the UAE, with another 12 in the pipeline expected to add 300 MW in capacity over the next two years.

REAL ESTATE-

Egypt-born TMF Euro Foundation awarded a contract for Taraf’s Cello Residences: Taraf, the real estate arm of Yas Holding, awarded an enabling works contract for its residential project in Jumeirah Village Circle, Cello Residences, to TMF Euro Foundation, according to a statement from Taraf. TMF is an Egypt-born ground engineering company currently operating in the UAE, Saudi Arabia, Egypt and Oman.

SUSTAINABILITY-

Etihad Water and Electricity laid out a plan for reducing leaks across its distribution network, including the use physical sensors and data loggers to notify the company of potential leaks, in addition to increasing the number of deployed meters and reducing the scope of the areas covered by each, according to a statement.

LOGISTICS-

Abu Dhabi Airports Freezone + MSM Logistics partner up on a new warehousing facility: The Abu Dhabi Airports Freezone and MSM Logistics broke ground on an AED 85 mn warehouse in Abu Dhabi’s Al Falah District, according to a statement from the Abu Dhabi Media Office. The facility, slated to be operational in 1Q 2025, will offer storage solutions for both local and international logistics companies.

Remember- MSM Logistics and the Airports Freezone first agreed on the project in October, with the latter leasing the project’s land to MSM Logistics under a Musataha agreement.

A Musataha agreement gives investors the right to construct a building, or invest in, mortgage, lease, sell, or purchase a plot of land belonging to a third party for a specific period.

Fed chief signals September rate cut as economic risks shift

The “time has come” for rate cuts in the US: Federal Reserve Chair Jerome Powell indicated his readiness to start cutting interest rates in September during his address at the Fed’s annual retreat in Jackson Hole on Friday — read the speech or (watch, runtime: 16:06). Powell emphasized that “the time has come for policy to adjust,” citing cooling inflation and slowing job growth.

Behind Powell’s comments was a more optimistic inflationary forecast: US inflation fell under the 3% mark in July for the first time since March 2021, strengthening the case for the Fed to cut interest rates. The figure undercut economists’ expectations that inflation would hold steady at 3% and helped to support Powell’s argument at Jackson Hole that “inflation is on a sustainable path back to 2%.”

Rising concerns about the labor market are also pushing the Fed to take actions: “The upside risks to inflation have diminished, and the downside risks to employment have increased,” Powell explained. With the US unemployment rate rising to a near three-year high of 4.3% in July, which in turn raised recession fears and triggered a market meltdown at the start of August, the Fed is now weighing how confident it is the economy’s inflationary trajectory with a desire not to see “further cooling in labor market conditions.”

The odds: Markets now see a 35% chance of a larger-than-usual 50 bps cut in September, up from 28% before Powell’s remarks, according to the Financial Times.

Market reax: US Treasuries rallied and the USD fell as investors priced in larger rate cuts this year following Powell’s comments on Friday before the markets closed for the weekend. The two-year Treasury yield dropped 0.1 percentage points to 3.9%, while the S&P 500 closed up 1.2% on Friday, approaching July's all-time high.

What’s next? The Fed will meet on 17-18 September to review rates, six weeks before the US presidential election. “The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks,” Powell said.

MARKETS THIS MORNING-

Asian markers are mixed in early trading this morning as traders weigh up dovish comments from senior US Fed officials and the risk of a regional war breaking out in our part of the world as Israel and Lebanon’s Hezbollah exchange missiles. Japan’s Nikkei is down 1.2% and China’s Shanghai index is essentially flat, while Korea’s benchmark Kospi is up 0.2%.

ADX	9,374	0.0% (YTD: -2.1%)
DFM	4,293	-0.4% (YTD: +5.7%)
Nasdaq Dubai UAE20	3749	-0.3% (YTD: -2.4%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	5% o/n	4.6% 1 yr
TASI	12,262	+0.6% (YTD: +2.5%)
EGX30	30,074	-0.2% (YTD: +20.8%)
S&P 500	5,635	+1.2% (YTD: +18.1%)
FTSE 100	8,328	+0.5% (YTD: +7.7%)
Euro Stoxx 50	4,909	+0.5% (YTD: +8.6%)
Brent crude	USD 79.02	+2.3%
Natural gas (Nymex)	USD 2.02	-1.5%
Gold	USD 2,546	+1.2%
BTC	USD 64,236.60	+0.1% (YTD: +51.9%)

THE CLOSING BELL-

The ADX rose 0.04% last Friday on turnover of AED 1.14 bn. The index is down 2.1% YTD.

In the green: Finance House (+5%), Waha Capital Company (+3.9%) and NMDC Group (+3.4%).

In the red: Foodco National Foodstuff (-9.6%), Al Khaleej Investment (-4.4%) and Gulf Cement Co. (-4.0%).

Over on the DFM, the index fell 0.4% on turnover of 265.7 mn. Meanwhile, Nasdaq Dubai fell 0.3%

UAE mediates seventh prisoner swap between Russia and Ukraine

The UAE facilitated a prisoner exchange agreement between Russia and Ukraine for the seventh time this year, Wam reports. The swap led to the release of 115 prisoners from each side, and marked the first exchange since Ukraine's surprise attack on Russia's Kursk region on 6 August, Reuters reported. The total number of captives exchanged through UAE mediation now stands at nearly 1.8k. The UAE assisted in six prisoner exchanges between the two countries from January to July 2024.

ALSO IN SUPPORT OF UKRAINE- The UAE sent over 1k tons of medical, food, and relief aid to Ukraine, deploying 14 aid planes and two ships through Romania, Al Bayan reports. The aid includes 7.5k laptops and 10k school bags, 50 ambulances, and some 4.5k electric generators for winter and power outages.

Sudan ceasefire talks wrap with no resolution: Peace talks attended by the UAE in Switzerland aimed at resolving Sudan’s 16-month war ended on Friday with no resolution after the Sudanese Armed Forces refused to attend, Bloomberg reported. “Though we were in consistent communication with SAF virtually, we regret their decision not to be present, and we believe that limited our ability to make more substantial progress towards key issues, particularly a national cessation of hostilities,” the mediators said in a statement.

What did come out of the talks: The mediators — which included Saudi Arabia, Switzerland, the US, the UN, and Egypt — were able to secure permission for the UN to use the Adre border from Chad into Sudan to deliver humanitarian aid, and to facilitate aid to Zamzam Camp and other parts of Darfur, according to the statement. They also received confirmation from the Rapid Support Forces that they would refrain from violations against women and children.

Background: The US-brokered talks — which were co-hosted by Saudi Arabia and Switzerland on 14-23 August — took place under the newly formed group named Aligned to Advance Lifesaving and Peace in Sudan (ALPS).

OTHER DIPLOMACY NEWS-

The UAE and the Republic of Mauritania will cooperate on communication and coordination in the field of Islamic affairs, Chairman of the General Authority of Islamic Affairs, Endowments, and Zakat, Omar Habtoor Al Darei and Mauritanian Prime Minister Mokhtar Ould Djay agreed during a sit-down. (Wam)
A royal invitation to the UAE President: State Minister Sheikh Shakhboot bin Nahyan Al Nahyan received an invitation for President Sheikh Mohamed bin Zayed Al Nahyan from Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud to attend the eighth edition of the Future Investment Initiative Forum 2024 in Riyadh. (Wam)
President Sheikh Mohamed bin Zayed Al Nahyan and President of the Republic of Guinea-Bissau, Umaro Sissoco Embaló, discussed improving bilateral relations between both countries in development, economic cooperation, and trade. (Wam)
Assistant Minister of Foreign Affairs for Energy and Sustainability Abdulla Balalaa emphasized the importance of pouring “responsible” investments in the mining sector at the United Nation’s Critical Energy Transition Minerals (CETM) Panel held in Nairobi, Kenya. (Wam)

CALENDAR

AUGUST

22-26 August (Thursday-Monday): Fatima Bint Mubarak Academy GCC Basketball Cup for Ladies, Abu Dhabi

23 August (Friday): NMDC’s general assembly to approve NMDC Energy IPO.

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

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

28 August (Wednesday): Emirati Women and Future-Making conference.

SEPTEMBER

31 August - 8 September (Saturday-Sunday): Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX), Adnec Centre, Abu Dhabi.

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

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

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

7-8 September (Saturday-Sunday): Binous Classic Bodybuilding Championship, DWTC, Dubai.

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

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

11-12 September (Wednesday-Thursday): Dubai AI & Web3 Festival, Madinat Jumeirah, Dubai.

16 September (Monday): HKMA–DFSA Climate Finance Conference, Hong Kong.

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

16-20 September (Monday- Friday): Intelligent Transport Systems World Congress 2024, Dubai.

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

18-19 September (Wednesday-Thursday): Sharjah Investment Forum, Jawaher Reception and Convention Centre, Sharjah.

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

19-20 September (Thursday-Friday): Healthcare Leaders Summit 2024, St. Regis Saadiyat Island Resort, Abu Dhabi.

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

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

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

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

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

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

OCTOBER

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

NOVEMBER

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Signposted to happen ahead of ADIPEC:

Changemakers Majlis, Abu Dhabi.

DECEMBER

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

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

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

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

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

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

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

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

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

Signposted to happen sometime in December:

UAE-China Summit, Abu Dhabi.

JANUARY 2025

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

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

FEBRUARY 2025

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

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

APRIL 2025

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

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.

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

JUNE 2025

3-4 June (Tuesday-Wednesday): Make-A-Wish International’s Global Wish summit, Abu Dhabi.

OCTOBER 2025

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

Signposted to happen sometime in 2025:

TBD: The Middle East Electric Vehicle Show, Expo Center Sharjah.
TBD: e& will complete Adnoc’s private 5G network.

Signposted to happen sometime in the fall of 2025:

2025 Games of the Future, Dubai.

Signposted to happen sometime in 2026:

The UAE to host the Arab Competition Forum

Signposted to happen sometime in 2028:

Abu Dhabi to host the Chess Olympiad.

Signposted to happen sometime in 2029:

Dubai to host the International Conference on Computer Vision.

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