L’imad’s long game

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WHAT WE’RE TRACKING TODAY

THIS MORNING: BMI sees turbulence ahead + Adnoc keeps selling through the squeeze

Good morning, everyone. Abu Dhabi’s L’imad is tightening its grip on the emirate’s ports and logistics empire, with subsidiary ADQ offering a 23% premium to buy out the stake it doesn’t already own.

PLUS- We take a look at how 2Q has fared as earnings season wraps: Abu Dhabi’s megacaps did the heavy lifting for the UAE’s listed companies in 1H, with just 20 firms generating 73.3% of all market earnings.

Elsewhere, Fitch’s BMI now sees the MENA region’s economy contracting 3.3% this year, as Hormuz disruption persists, though the UAE is expected to fare better than most.

We’re also tracking the latest from Washington and Tehran, as the 60-day ceasefire expires with Trump confirming that he will not seek an extension. Trump’s latest threat? To bomb Oman if it interferes with Washington’s efforts to reopen Hormuz.

The EnterpriseAM Egypt Forum is back — and we’re devoting the full day to the singular set of questions on everyone’s mind: What does AI actually mean for your company, your people, your economy, your own job — and your kids’ future?

Every session on stage answers one question: “So, what do I actually do about it?”

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BMI sees turbulence ahead

Fitch’s BMI now sees the MENA economy contracting 3.3% this year, downgrading its earlier forecast of 0.9% growth, Arab News reports. The continued closure of Hormuz could stall the recovery in oil production and weigh on trade, investment, and service activities, BMI said.

UAE likely to fare better than most in BMI’s view: The UAE is expected to see growth stagnate at around 0.3%, making it one of only two Gulf countries expected to see GDP expand, alongside Oman. It’s still a meaningful downgrade from an earlier forecast of 1.4% growth but is more optimistic than others. S&P had forecast a contraction of 2.7% for the UAE’s real GDP this year, with the picture particularly bleak for Abu Dhabi, given that hydrocarbons account for 44.4% of its economy and its non-oil activity was also hit. Goldman Sachs had warned of a 5% contraction should the conflict last past April, but the IMF’s April forecast was the brightest of them all, expecting 3.1% growth for the year.

Adnoc keeps selling through the squeeze

Adnoc sold at least 14 mn barrels of spot crude to Asian refiners at premiums in its latest tender, taking sales across eight tenders since June to more than 108 mn barrels. The October-November cargoes included Das, Upper Zakum, and Umm Lulu crude, with some barrels commanding hefty premiums — Cosmo Oil paid around USD 10.5 / bbl over Dubai for Das, Formosa around USD 10 for Upper Zakum, and Chevron paid USD 7.5 for Umm Lulu, Reuters reports. GS Caltex also bought 2 mn barrels of Das for ship-to-ship transfer off Fujairah at roughly a USD 6 premium.

REMEMBER- The tender program has been running since June, offering Upper Zakum, Umm Lulu, and Das crude in cargoes of up to 2 mn barrels, with multiple delivery options — from Fujairah storage outside Hormuz, Zirku and Das islands inside the Gulf, and ship-to-ship transfers between Fujairah, Sohar, and around Malaysia.

Adnoc has been building out the shuttle capacity to match. Hormuz and Red Sea disruptions pushed it to charter around 15 crude carriers, while Adnoc L&S moved to buy another five VLCCs as tanker availability tightened.

The premiums come as Hormuz goes quiet. Just five commodity vessels crossed the strait on Saturday and Sunday, versus 31 over the previous weekend. The slowdown follows direct attacks on Adnoc's own fleet — the UAE said Iran struck a third Adnoc-operated vessel transiting the strait on Friday, after blaming Tehran for two separate attacks on Adnoc tankers the previous evening. Brent and WTI both gained more than 5% last week on the back of those attacks and a strike on a Saudi Aramco refinery.

UAE ranks fourth globally for expats despite turmoil

The UAE continues to be one of the world’s most attractive destinations for expats, ranking fourth globally behind Panama, Mexico, and Thailand, according to InterNations’ 2026 Expat survey. The Emirates was the highest-ranked country in the Middle East, ahead of established expat hubs including Spain, Singapore, and Portugal.

The UAE ranked first out of 31 destinations in the career prospects and state of the economy subcategories. It also topped the leaderboard for the Expat Essentials Index, which measures the ease of securing a visa and living there without speaking the local language.

DIEZ fills up

96% — That was the occupancy rate at the Dubai Integrated Economic Zones (DIEZ) Authority’s three zones in 1H 2026, with the number of companies operating across Dubai Airport Freezone, Dubai Silicon Oasis, and Dubai CommerCity up 13% y-o-y, according to a Dubai Media Office statement. Their combined workforce rose 24% y-o-y.

REMEMBER- More space is coming: DIEZ said earlier this year that it plans to launch two Dubai Silicon Oasis expansion projects — District IO, backed by AED 11 bn, and Block 14, whose first phase is backed by AED 1.8 bn and scheduled for completion in 2029, alongside the planned opening of the Dubai Metro Blue Line.

Watch this space: The growth comes after DIEZ moved earlier this year to cushion freezone firms during the regional conflict, including stabilizing renewal rents, allowing monthly rent payments, waiving some administrative fees, and deferring others for three months. With occupancy already near full, the test now is whether DIEZ can bring new capacity online fast enough to keep company growth from running into space constraints — especially as AI and startup activity accelerate in Dubai Silicon Oasis.

PSA

WEATHER- The mercury will hit 44°C in Dubai and 45°C in Abu Dhabi, with a low of 34°C in both emirates, according to our favorite weather app.

The big story abroad

US President Donald Trump has ruled out extending the 60-day agreement between the US and Iran, which expired yesterday. Trump warned that Washington could strike Oman — a key mediator — if it interferes with Washington’s plans to resume traffic in the Strait of Hormuz. Trump also said that back-channel discussions with the Islamic Revolutionary Guard Corps are underway.

Tehran says it is ready to escalate: In light of the stalled talks, Iran is shifting to a “fully offensive” military posture, a senior Iranian official said. The official indicated a willingness to launch a military attack to suspend the naval blockade imposed by US forces.

In the AI world: Nvidia pledged USD 100 bn in backing for a massive OpenAI data center in Ohio, alongside a USD 1.5 bn investment in SB Energy, a SoftBank-led energy company focused on data center development. The site will lease as much as 8 GW of AI computing power and is set to debut in 2032.

More trouble is apparently brewing in the private credit world. An FT report says the largest funds are seeing more writedowns, signaling stress levels last seen almost 10 years ago. The level of loans with non-accrual status by the 20 largest funds rose to a median of 2.8% in 2Q, up from 2% in March. This echoes last week’s report by Fitch Ratings, which found private credit defaults hitting a new record last month.

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L’imad moves for full control of AD Ports as capital needs rise

Abu Dhabi sovereign investor L’imad is looking to take full control of AD Ports Group. The firm’s wholly owned subsidiary ADQ has notified AD Ports Group’s board of its intention to make a voluntary cash offer for the 24.58% of the ports and logistics giant it doesn't already own, according to ADX disclosures here (pdf) and here (pdf). The buyout offer values AD Ports at around AED 31.8 bn and would cost ADQ roughly AED 7.8 bn to buy out the remaining stake, according to our math.

The offer: L’imad is offering AED 6.25 per share — a 23% premium to AD Ports’ 14 August close. The price is also 95% above AD Ports’ AED 3.20 listing price from February 2022.

Market reax: AD Ports shares jumped 14.9% on the news to AED 5.86, their biggest daily gain since 2022 and just shy of the 15% trading limit, Asharq Business reports.

The rationale

Why full control now? L’imad expects AD Ports’ next phase of growth to be “complex, capital-intensive and long-term,” potentially requiring fresh equity or more borrowing. It also says that recently announced agreements have pushed leverage higher and could constrain dividends and near-term shareholder returns. Full ownership would give AD Ports more room to fund capex, acquisitions, and operational changes without short-term public-market return pressure.

The broader look: AD Ports sits at the center of L’imad’s ports and logistics platform, which also includes Etihad Rail and Aramex. The group has built a network spanning ports, shipping, logistics, and economic zones across more than 50 countries.

The bigger picture

L’imad ran the same playbook with Taqa, acquiring the final 1.88% it did not already own earlier this month, bringing the utility fully under its control. Diego Lopez, founder and managing director of Global SWF, tells EnterpriseAM that the AD Ports move “would create another wholly owned platform that is and can be highly acquisitive overseas.”

REMEMBER- AD Ports has been on an acquisition spree: AD Ports has AED 5.89 bn in undrawn credit facilities, including an accordion option, to close its pending buys of Brazil’s CLI agri-bulk terminal operator for an enterprise value of AED 3.1 bn (expected to close by the end of 3Q 2026) and Germany’s MBS Logistics for AED 300 mn (expected in 4Q 2026). It also completed a 30% stake increase in Global Feeder Shipping, taking its holding to 81% for AED 1.1 bn in June.

There may be a broader playbook here: Lopez compares the approach to Saudi Arabia’s PIF, which has traditionally preferred full ownership of subsidiaries and investment platforms, saying the structure would likely streamline L’imad’s investment decisions. He adds that full ownership would give AD Ports a “more definitive backer” as it competes with DP World and Saudi Global Ports Company for an international footprint in what he says is an “increasingly disrupted industry.”

What’s next? This is a notice of intention, not a binding offer. ADQ still needs to clear regulatory approvals and conduct due diligence before it can issue a formal offer document with acceptance terms and a deadline. AD Ports Group's board will also need to send shareholders a circular recommending for or against the offer once that document lands.

ADVISORS- Rothschild & Co Middle East is acting as financial adviser, with Emirates NBD Capital and First Abu Dhabi Bank (FAB) as joint lead managers and EFG Hermes UAE as co-lead manager. Emirates NBD and FAB are also the joint lead receiving banks, while A&O Shearman is serving as adviser.

Abu Dhabi’s megacaps made 73% of UAE’s 1H earnings

Riding a wave of gains among Abu Dhabi’s largest companies, the combined earnings of 161 UAE-listed companies rose 16% y-o-y to AED 158.3 bn in 1H 2026 — an increase of AED 21.8 bn over the same period last year, Al Khaleej reports. Mega-cap state entities in Abu Dhabi did the heavy lifting, with just 20 companies generating AED 116 bn, or 73.3% of all market earnings.

The 98 companies reporting on the Abu Dhabi Securities Exchange generated AED 102.6 bn in combined earnings, up 30.6% y-o-y, while UAE-based firms’ income rose 32.8% to AED 97.6 bn. International Holding Company led the market at AED 17.9 bn in net income attributable to shareholders, up 228%, while Alpha Dhabi Holding’s bottom line rose 92% to AED 6.5 bn. Adnoc Logistics & Services also saw its earnings jump 174% to AED 4.1 bn.

Consumer-facing names on Dubai’s exchange saw earnings flatten: Across 65 Dubai-listed companies, combined earnings slipped 0.6% y-o-y to AED 61.5 bn. Excluding foreign companies, UAE firms’ earnings rose 9.3% to AED 48.9 bn. Emirates NBD remained the market’s top earnings driver at AED 12.8 bn, while Emaar Properties’ net income attributable to shareholders rose 22.5% to AED 8.7 bn — a bright spot, but not enough to lift an aggregate weighed down by an economy heavily exposed to tourism, real estate, and consumer spending.

OUR TAKE- Abu Dhabi’s economy runs on state-owned and government-linked megacaps in energy, utilities, and financials — sectors far more insulated against the fallout from the Iran conflict than Dubai’s exposure to tourism, real estate, and consumer activity, which are directly vulnerable to swings in regional risk sentiment.

The same divide is also evident in foreign capital flows: When renewed US-Iran escalation triggered USD 415 mn in Gulf-wide equity outflows in July, Abu Dhabi still pulled in a net USD 148 mn — the only Gulf bourse to draw inflows — while Dubai bled USD 174 mn. Century Financial’s Vijay Valecha attributes that flow pattern to the same sector mix driving the earnings gap: global capital treating Abu Dhabi’s energy-and-financials tilt as the safer conflict-era play.

Julphar taps new CCO and GM for KSA

Gulf Pharma Industries (Julphar) has appointed new execs, tapping Khalid Khalil (LinkedIn) as chief commercial officer and Faisal Al Tlasi (LinkedIn) as GM for Saudi Arabia, according to a disclosure (pdf).

The new hires: Khalil has more than 30 years of commercial leadership experience across the GCC, the Middle East, Africa, Turkey, and Pakistan, including tenures at Abbott Nutrition, GSK, and Eli Lilly. Al Tlasi brings more than 25 years of pharma industry experience, including senior roles at Axantia Group, Sudair Pharma, and Hikma Pharma.

DP World makes headway on Port of Tartous, Adnoc Gas lines up contracts for RGD project, CBD allows for cross-bank payments, Sanad to double engine capacity, Tax Star secures USD 1.75 mn

DP World is making headway on its Port of Tartous development, delivering three mobile harbor cranes to the Syrian port, marking a key step in its USD 800 mn investment program to upgrade the port, Gulf News reports. The cranes are expected to lift cargo handling capacity by around 40%.

IN CONTEXT- The logistics giant will develop and operate the port under a 30-year concession agreement with Syrian authorities, inked last July. DP World will hold full ownership under the model and also explore setting up freezones, industrial zones, and dry ports under the agreement.

Adnoc Gas lines up contractors for its entire Rich Gas Development program

All contractors now in place for Adnoc Gas’ USD 13.2 bn buildout: Adnoc Gas has awarded contracts across all three phases of its USD 13.2 bn Rich Gas Development program. China’s Wison Engineering will build a new gas processing train at Habshan under a USD 3.9 bn agreement — its largest-ever single EPC award — while Italy’s Tecnimont will take on a parallel USD 4.3 bn NGL fractionation train at Ruwais. Including an associated 220 kV switch station, Wison’s slice is worth some USD 4.04 bn, according to a press release.

REMEMBER- Adnoc Gas began approaching contractors for the Habshan train in April last year, targeting a 2029 commissioning. Habshan’s five existing trains and 14 processing units handle 6.1 bcf / d of onshore and offshore gas from across Abu Dhabi — capacity the company says it restored to 85% ahead of schedule this quarter following conflict-related disruptions.

CBD becomes first UAE bank to enable cross-bank payments

Commercial Bank of Dubai (CBD) has become the first UAE lender to allow customers to initiate payments from accounts at other banks directly through its app, according to a press release. The bank has secured approval from the Central Bank of the UAE to operate as a third-party provider under the Open Finance Initiative.

IN CONTEXT- The central bank’s open finance framework was initially rolled out in 2024 to allow customers who have consented to the initiative to share bank data and make payments via licensed third parties using secure APIs. Abu Dhabi Islamic Bank and First Abu Dhabi Bank were among the early adopters of the framework.

Sanad to double engine capacity by 2027

Sanad plans to nearly double its annual Trent 700 engine capacity to 90 by 2027, up from 50 at present — with an interim target of 75 engines by the end of 2026, Managing Director and CEO Mansoor Janahi told CNBC (watch, runtime: 3:06). The Mubadala-owned aerospace firm is also adding capacity for 100 LEAP engines annually by the end of 2027. The buildout spans a 300-engine operation in Abu Dhabi and a new 360-engine MRO center in Al Ain, which is currently around 10% complete.

The numbers back it up: Sanad’s 1H revenue rose 35% y-o-y to AED 4.3 bn, with international customers generating 99% of the total. The company also signed eight new commercial agreements worth AED 95.5 mn.

IN CONTEXT- Sanad has invested more than AED 800 mn over the past two years, with its pipeline including an AED 480 mn engine-component repair center in Al Ain due to open by 2030 and a GTF engine MRO facility due to start operations in late 2028. It has also expanded Rolls-Royce Trent 700 workload to as many as 612 shop visits through 2031, giving the current capacity push a longer runway.

Tax startup raises USD 1.75 mn to ride UAE e-invoicing rollout

Dubai-based tax software startup Tax Star raised USD 1.75 mn in a seed round backed primarily by angel investors as it rolls out its e-invoicing platform ahead of the UAE’s first mandatory compliance deadlines, according to a press release.

What does it do? Tax Star is a pre-approved accredited service provider (ASP) for UAE e-invoicing — enabling it to connect businesses with the country’s Electronic Invoicing System as companies prepare for the new regime, whose pilot is already underway.

Where is the money headed? The funding will go toward go-to-market expansion, product development, and compliance tools, as the startup looks to simplify implementation instead of focusing solely on individual-accounting software integration.

IN CONTEXT- Businesses with annual revenue of AED 50 mn or more face an ASP appointment deadline of October 30, ahead of mandatory implementation in January 2027.

Institutional investors are split down the middle on Big Tech

2Q 2026 13F filings are in, and they reveal something more important than any individual fund’s positioning. Institutional investors are nearly evenly split on the largest US megacap tech stocks, on major software names, and on data centers. The balance is between funds trimming and funds adding, but the direction has become genuinely contested for the first time in three years.

A Reuters analysis of 6.4k filings shows 44% of institutions trimmed their Magnificent Seven positions in 2Q, while 42% initiated or expanded. Major software names (Adobe, Datadog, and the broader group) saw 28.2% act as net sellers against 26.3% net buyers. Data centers were near-perfectly split at 24.3% each. Semiconductors retained a modest bullish tilt (48% net buyers vs 34.5% net sellers), but even that is far from the crowded consensus that drove the rally through 2024 and early 2025. “When buys and sells are that closely matched, to us it signals the absence of consensus. Nobody disputes the quantum of AI spending that is happening. There is disagreement about which companies ultimately will profit,” OnyxPoint Global Management founder Shaia Hosseinzadeh told the newswire.

The consensus names losing conviction: Tiger Global Management, one of the most-watched hedge funds in the AI trade, cut Alphabet by 45.4% and trimmed Microsoft, Nvidia, and Meta positions. SoftBank reduced its TSMC holdings. Erlen Capital’s Bruno Schneller told Reuters the 2Q data reflects AI-related stocks moving “from a fundamental growth story into a highly leveraged momentum trade” — with July’s tech-sector unwinding as the confirmation. The software-disruption thesis we flagged in June through Adobe's 9% collapse now has institutional-flow validation: more than 28% of filers reviewed by Reuters were net sellers of the major software cohort.

OnyxPoint established new positions in BP, Devon Energy, geothermal developer Fervo Energy, and data center operator Keel Infrastructure — clean, textbook HALO positioning. Berkshire Hathaway added USD 17 bn to Alphabet, boosted its Delta stake, and lifted housing bets, making Alphabet a top-three holding in what is now Greg Abel’s second full quarter running the shop. Nvidia’s 13F disclosed a USD 21 bn SpaceX position and a USD 30 bn Intel stake — together about 80% of Nvidia’s disclosed public equity portfolio, in two companies that have both committed to Nvidia’s Vera Rubin architecture. The pattern is consistent: the money isn’t leaving AI; rather, it is rotating from broad-consensus names into concentrated positions in power, real assets, and vendor-linked infrastructure.

PIF’s 1Q pivot to four US positions — which we covered as the smartest single capital allocation call in the GCC complex this year — looks better with each passing quarter. The names PIF exited (Amazon, Visa, Mastercard) are now inside the cohort losing institutional conviction. The names PIF held — Uber, Electronic Arts, Lucid, Clarivate — fit the rotation targets institutional flows are now moving toward. Mubadala, Adia, ADQ, and QIA still carry meaningful exposure across the Magnificent 7 and software complex. 2Q’s 13F data is the closest thing markets have produced to a coordinated institutional signal in months, and the signal is that the consensus trade has moved from crowded to contested.

(** Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

MARKETS THIS MORNING-

Asian markets opened to mixed results earlier today. South Korea’s Kospi gained around 2.5%, while Japan’s Nikkei lagged behind at a loss of 0.3%. Meanwhile, US equities notched losses across the board as the prospects dim for a lasting truce in the regional war.

ADX	10,077	+0.3% (YTD: +0.8%)
DFM	5,856	-0.5% (YTD: -3.2%)
Nasdaq Dubai UAE20	4,868	+0.1% (YTD: -0.4%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	3.6% o/n	4.1% 1 yr
TASI	10,908	-0.1% (YTD: +4.0%)
EGX30	55,415	-0.8% (YTD: +32.5%)
S&P 500	7,745	-0.5% (YTD: +13.1%)
FTSE 100	10,720	-0.3% (YTD: +7.9%)
Euro Stoxx 50	6,530	-0.1% (YTD: +12.7%)
Brent crude	USD 90.87	+2.7%
Natural gas (Nymex)	USD 2.71	+0.9%
Gold	USD 4,475	+0.0%
BTC	USD 64,301	+2.2% (YTD: +26.6%)
Chimera JP Morgan UAE Bond UCITS ETF	AED 3.62	+0.0% (YTD: +1.0%)
S&P MENA Bond & Sukuk	151.07	-0.1% (YTD: -0.5%)
VIX (Volatility Index)	15.19	+6.6% (YTD: +1.6%)

THE CLOSING BELL-

The ADX rose 0.3% yesterday on turnover of AED 977.2 mn. The index is up 0.8% YTD.

In the green: Abu Dhabi Ports Company (+14.9%), Pure Health Holding (+11.5%), and Emsteel Building Materials (+9.6%).

In the red: Aram Group (-4.9%), Ins. House (-4.4%), and Americana Restaurants International (-3.3%).

Over on the DFM, the index fell 0.5% on turnover of AED 651.9 mn. Meanwhile, Nasdaq Dubai was up 0.1%.

CALENDAR

SEPTEMBER

1-3 September (Tuesday-Thursday): Middle East Energy, Dubai World Trade Center, Dubai.

7-9 September (Monday-Wednesday): AIM Congress, Dubai World Trade Center.

7-9 September (Monday-Wednesday): International Property Show, Dubai World Trade Center, Dubai.

12-13 September (Saturday-Sunday): Emirates International Congress on AI & Visionary Leadership in Transforming Healthcare, Adnec Center Abu Dhabi.

14-17 September (Monday-Thursday): Arabian Travel Market, Dubai World Trade Center, Dubai.

15-16 September (Tuesday-Wednesday): Federal Open Market Committee (FOMC) meeting.

17-19 September (Thursday-Saturday): International Real Estate & Investment Show (IREIS), Adnec, Abu Dhabi.

29-30 September (Tuesday-Wednesday): AFCM Annual Conference, Abu Dhabi.

OCTOBER

4-10 October (Sunday-Saturday): World Space Week, Abu Dhabi.

5-7 October (Monday-Wednesday): AI Everything Global, Adnec Center, Abu Dhabi.

12-14 October (Monday-Wednesday): Airport Show, Dubai World Trade Center, Dubai.

14-15 October (Wednesday-Thursday): Sharjah Investment Forum, Jawaher Reception and Convention Center, Sharjah.

13-15 October (Tuesday-Thursday): Annual Meeting of Global Future Leaders, Dubai.

20-22 October (Tuesday-Thursday): Future Health Summit, Adnec Center Abu Dhabi.

27-28 October (Tuesday-Wednesday): Arab Competition Forum, Dubai.

27-28 October (Tuesday-Wednesday): Federal Open Market Committee (FOMC) meeting.

30 October (Friday): Large businesses achieving annual revenues equal to or above AED 50 mn must appoint an accredited service provider for e-invoicing implementation.

Signposted to happen sometime in October 2026:

Abu Dhabi Space Week, Abu Dhabi.

NOVEMBER

2-6 November (Monday-Friday): Dubai Future Finance Week, Dubai.

4 November (Wednesday): Digital Transformation Summit, Sofitel, Abu Dhabi.

9-10 November (Monday-Tuesday): Annual government meetings, Abu Dhabi.

9-12 November (Monday-Thursday): EMEA Council on Hotel, Restaurant and Institutional Education Conference, Dubai College of Tourism, Dubai.

10-12 November (Tuesday-Thursday): Dubai International Electric Vehicle Exhibition & Conference, Dubai World Trade Center.

16-18 November (Monday-Wednesday): World Police Summit, Dubai World Trade Center, Dubai.

18-19 November (Wednesday-Thursday): Touchdown Middle East 2026, Conrad Abu Dhabi Etihad Towers, Abu Dhabi.

25-26 November (Saturday-Sunday): Doers Summit, Dubai Silicon Oasis, Dubai.

DECEMBER

2-4 December (Wednesday-Friday): UN Water Conference, UAE.

4-6 December (Friday-Sunday): Formula 1 Abu Dhabi Grand Prix, Abu Dhabi.

8-9 December (Tuesday-Wednesday): Capital Market Summit, Madinat Jumeirah, Dubai.

8-9 December (Tuesday-Wednesday): Federal Open Market Committee (FOMC) meeting.

7-10 December (Monday-Thursday): Abu Dhabi Finance Week, Al Maryah Island, Abu Dhabi.

8-10 December (Tuesday-Thursday): Abu Dhabi Water & Power Week, Adnec Center, Abu Dhabi.

8-10 December (Tuesday-Thursday) Middle East & North Africa Business Aviation Association Show, DWC, Dubai Airshow Site.

Signposted to happen sometime in 2027:

1 January: Deadline for large businesses to implement e-invoicing;
1Q 2027: Completion of the first phase of Hassyan seawater desalination project;
1-3 February (Monday-Wednesday): World Governments Summit;
31 March: Small businesses with annual revenues of less than AED 50 mn are obliged to contract with an accredited service provider for e-invoicing implementation;
31 March: Government entities are required to appoint an accredited service provider for e-invoicing implementation;
21-22 April (Wednesday-Thursday): Token2049, Dubai;
1 July: Deadline for small businesses to implement e-invoicing;
1 October: Deadline for governments to implement e-invoicing;
Abu Dhabi’s solar and battery energy facility, combining 5.2 GW of solar capacity and 19 GWh of battery storage, is set for commissioning.

Signposted to happen sometime in 2028:

Artificial Intelligence Summit.

Signposted to happen sometime in 2029:

Sibos 2029 organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), Dubai;
Annual Meetings of the World Bank Group and the International Monetary Fund, Abu Dhabi;
The commissioning of the seventh phase of Mohammed bin Rashid Al Maktoum Solar Park.

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L’imad’s long game

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Today at a glance

THIS MORNING: BMI sees turbulence ahead + Adnoc keeps selling through the squeeze

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L’imad moves for full control of AD Ports as capital needs rise

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Abu Dhabi’s megacaps made 73% of UAE’s 1H earnings

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Julphar taps new CCO and GM for KSA

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DP World makes headway on Port of Tartous, Adnoc Gas lines up contracts for RGD project, CBD allows for cross-bank payments, Sanad to double engine capacity, Tax Star secures USD 1.75 mn

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Institutional investors are split down the middle on Big Tech

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L’imad’s long game

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Today at a glance

THIS MORNING: BMI sees turbulence ahead + Adnoc keeps selling through the squeeze

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Related

This publication is proudly sponsored by

L’imad moves for full control of AD Ports as capital needs rise

Related

Related

Abu Dhabi’s megacaps made 73% of UAE’s 1H earnings

Related

Related

Julphar taps new CCO and GM for KSA

Related

DP World makes headway on Port of Tartous, Adnoc Gas lines up contracts for RGD project, CBD allows for cross-bank payments, Sanad to double engine capacity, Tax Star secures USD 1.75 mn

Related

Institutional investors are split down the middle on Big Tech

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CALENDAR

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