MAF is doubling down on Egypt

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WHAT WE’RE TRACKING TODAY

Biden is going to be a no-show at COP28

Good morning, ladies and gentlemen. We have a bit of a slow morning (by UAE standards, at least) on our hands — although that’s likely the calm before the storm as we hurtle towards COP28 later this week.

THE BIG STORY here at home? There’s no single story or theme that is dominating the news cycle today, although the UAE’s investment interest in Egypt continues to make the rounds.

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COUNTDOWN TO COP-

COP28 is right around the corner: The annual climate event kicks off in Dubai this Thursday, 30 November and will run through 12 December. During this year’s event, governments will, for the first time, undertake a Global Stocktake (GST) to assess their advancements in meeting the nationally determined contributions (NDCs) pledged at the 2015 Paris Climate Accords.

Biden is skipping out: US President Joe Biden will give COP28 a pass, sending instead climate envoy John Kerry. The New York Times suggests that Biden is preoccupied with Gaza and his upcoming presidential campaign. Biden attended the last two COPs — in Egypt and the UK — with climate issues being on top of his international and local agenda. (Financial Times | The Guardian | France 24 | The New York Times | Reuters)

Methane curbs will be a main focus at COP28: Although 150 nations have signed up for the EU-backed Global Methane Pledge aimed at slashing generation volumes of the greenhouse gas (GHG) by at least 30% by 2030, more action is needed to turn emission reduction commitments into action, Reuters reports, citing comments made by the COP28 Presidency.

Why it’s important: Methane emissions still totaled 135 mn metric tons last year and is the second most abundant anthropogenic GHG after CO2, the newswire writes. A legally binding agreement to phase it out needs to be hammered out during COP28 to meet global climate targets, the World Bank’s former Climate Envoy Rachel Kyte told Reuters. The US and China will partner with the UAE on holding a Methane and Non-CO2 Greenhouse Gases Summit at COP28 to help realize that target.

There’s been progress ahead of COP: The US Methane Finance Sprint — which aimed to mobilize at least USD 200 mn during COP28 to help developing countries curb greenhouse gas emissions — will reportedly exceed its targets. The US and China — the world’s largest carbon emitters — have agreed to count all non-carbon greenhouse gasses including methane in the update of their national climate strategies. And over in the EU, lawmakers reached a provisional agreement setting methane emission restrictions for future oil and gas imports into the bloc earlier this month.

HAPPENING TODAY-

A handful of events around town:

Abu Dhabi Finance Week features MENA’s biggest fintech festival. The event kicked off yesterday and wraps this Thursday.
Dubai Future Forum is on its second and final day at the Museum of the Future, welcoming futurists to anticipate challenges and solutions in climate and technology.
Fortune Global Forum is bringing the world’s biggest multinational companies to engage in discussion and address global issues. The event continues today and tomorrow in Abu Dhabi.
The World Green Economy Summit, focusing on investments in the global green economy, continues today and tomorrow at Dubai’s Madinat Jumeirah Conference Center.

FROM THE RUMOR MILL-

UK tapping Abu Dhabi for stake in nuclear power plant? The UK government has reportedly approached Emirati sovereign fund Mubadala to buy a stake in the UK’s Sizewell C nuclear power plant, The Times reported. The news comes as the UK government is assessing possible investors to back the project, following the removal of Chinese state-owned power group China General Power from the USD 25.2-55.5 bn (GBP 20-44 bn) nuclear power project.

DATA POINT- International investors have poured over AED 4 bn into the Dubai Financial Market (DFM) year-to-date, Al Bayan reports, citing Dubai Financial Market data. Market capitalization of listed shares in the Dubai and Abu Dhabi markets reached AED 3.555 tn at the end of last week.

PSA- Ras Al Khaimah residents will get a 50% markdown on public fines through the end of this year in celebration of National Day celebrations, Gulf Today reports, citing RAK’s Public Service Department.

THE BIG STORY ABROAD- Aside from Biden skipping out on COP28 (above), the foreign media can’t seem to shift its attention from the war on Gaza, where Israel and Hamas have agreed a two-day extension after a concerted diplomatic effort by Egypt, the United States and Qatar.

The business pages are all about one of (ultra) fast-fashion’s biggest players, Shein, inching closer towards its IPO.

The Chinese-founded brand has filed for a US IPO in what some pundits say could be New York’s largest IPO of the decade. The company tapped Goldman Sachs, JPMorgan Chase, and Morgan Stanley to advise on the listing, which could happen as soon as 2024. The company, which was last valued at USD 66 bn in May, reportedly entered talks with the New York Stock Exchange and Nasdaq back in July. (CNBC | Financial Times | Bloomberg | Wall Street Journal)

AND- It’s not a good morning for: Mark Zuckerberg. The Facebook chief is facing fresh questions this morning about Instagram’s algorithm after a Wall Street Journal investigation found that the social network showed “salacious content … including risqué footage of children as well as overtly [redacted] adult videos — and ads for some of the biggest US brands” in test accounts it set up to follow just kids and young teens. Read: Instagram’s algorithm delivers toxic video mix to adults who follow children.

MARKET WATCH-

Oil prices keep tumbling ahead of postponed OPEC+ meeting:Brent crude oil prices fell for the fourth consecutive week, slipping to USD 80 a barrel, Reuters and Asharq Business report.

To curb or not to curb? At the meeting, pushed back from 26 to 30 November, oil producers are expected to reach a decision on next year’s production targets and whether they will cut global oil exports or not. The event, which will take place virtually, was delayed because OPEC members had failed to reach a consensus on the output targets for African members.

Oil drags GCC stocks down: Early trade on major GCC stock markets inched down yesterday on the back of falling oil prices, according to Reuters. The limited performances come at a time of caution for investors, with uncertainty as to whether the oil producers will iron out their differences.

CIRCLE YOUR CALENDAR-

Sole DXB is coming back to Dubai from 8-10 December. The culture festival will bring rap artists from all over the world to the Dubai Design District stage.

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

UAE’s Majid Al Futtaim to invest USD 1 bn in Egypt

Majid Al Futtaim is doubling down on Egypt with another USD 1 bn investment: Retail giant Majid Al Futtaim (MAF) is expected to invest USD 1 bn (EGP 30 bn) in Egypt over the coming period, Asharq Business quotes MAF CEO Ahmed Galal Ismail as saying.

Carrefour is growing in Egypt: The firm has plans to double the number of branches of the supermarket chain Carrefour to 140 in 25 non-major cities by 2025, Asharq quotes Ismail as saying. MAF wants to double that figure again to 300 branches in Egypt by 2030, with plans to invest up to USD 807 mn (EGP 25 bn) in the expansion, Ismail told Enterprise Egypt last month. The company is also planning to open a Carrefour in Egypt’s New Administrative Capital by February 2024, according to Asharq.

What MAF has done in Egypt thus far: MAF invested USD 2.5 bn (EGP 77 mn) in the Egyptian market over recent years. The company currently employs more than 9k workers in Egypt, with over 6k Egyptians working for the group in other countries, making them the most highly represented nationality among MAF employees, Al Arabiya reports.

Turkey is considering Abu Dhabi sovereign wealth fund ADQ for bond sale

Abu Dhabi sovereign wealth fund ADQ might be buying bonds from Turkey:Turkey is considering offering 10-year bonds in tranches to ADQ by the end of the year, Turkey’s Treasury and Finance Minister Mehmet Simsek told Bloomberg. The potential sale would be geared towards stymying Turkey’s decline in foreign investments, which has thrown its balance of payments out of whack and resulted in short-term liabilities exceeding USD 200 bn.

The proceeds from ADQ — which has some USD 160 bn in assets under management at its disposal — will finance reconstruction efforts in Turkey’s southeastern provinces struck by earthquakes in February, Simsek said.

The world’s second-worst emerging market currency this year? Restrictions on Turkey’s financial market have been enacted since 2018 to stabilize the lira, labeled the second-worst emerging market currency by Bloomberg data. Turkey is on a mission to slow down economic growth and inflation, which sits above 60%, to alleviate restrictions and attract foreign investors wishing to borrow in lira on the offshore market, said Simsek. With the potential inaugural bond sale, the Turkish central bank also plans to impose higher interest rates.

The Middle East likes Turkey for investment: Turkey is one of the UAE’s fastest-growing trading partners and sixth largest overall, according to our Economy Ministry. In addition to the UAE, Saudi Arabia has expressed an interest in investing in Turkey’s USD 1 tn economy, reports Bloomberg.

Dubai Holding now holds a 14.84% stake in Emirates NBD

Dubai Holding now holds a 14.84% minority stake in Emirates NBD, after Investment Corporation of Dubai (ICD), Dubai government’s main investment fund, transferred 937.5 mn of its shares in the bank to a subsidiary owned by Dubai Holding, the bank said in a disclosure to the DFM. The 14.84% stake in Emirates NBD is now owned by DH 7 LLC, a wholly owned subsidiary of Dubai Holding, Reuters reports. No details were provided on the value of the transaction.

ICD’s current stake: Following the shares transfer, the ICD retains a 40.91% stake in the bank. ICD previously held 55.8% of Emirates NBD.

About ICD: The Investment Corporation of Dubai (ICD) is the main sovereign investment fund of the government of Dubai.

About Dubai Holding: Dubai Holding is the investment vehicle owned by Dubai's ruler Sheikh Mohammed bin Rashid Al Maktoum. The conglomerate’s portfolio includes real estate developers Dubai Properties and Meraas, the Tecom Group, and Jumeirah Hotels and Resorts. Sheikh Ahmed bin Saeed Al Maktoum chairs both Emirates NBD and Dubai Holding.

UAE’s ADQ, Mubadala, EIA eye pharma acquisitions in Egypt

We’re looking for a slice of Egypt’s pharma sector: ADQ, Mubadala, and Emirates Investment Authority (EIA) are all interested in Egyptian state-owned pharma companies Chemical Industries Development (CID) and Misr Pharma, Al Mal reports, citing sources it says are in the know. While the Egyptian government has held negotiations with foreign investors, no formal offers have been made, Al Mal’s sources said, adding that Egypt is likely to sell 30% stakes in each company.

But we’re not alone: Qatar’s sovereign wealth fund, the Qatar Investment Authority (QIA), is also eyeing a stake in CID.

The planned sales have been crawling along: It was reported back in June that several investors were in talks with the Public Enterprises Ministry to acquire stakes in the two companies, four months after reports surfaced that the government could sell 30-40% of CID to strategic investors.

Crescent Petroleum awarded rights to two Iraq oil fields

Iraq awards Crescent Petroleum rights to two oil fields: The Iraqi Oil Ministry awarded Sharjah-based energy company Crescent Petroleum the rights to two oil fields in Iraq’s fifth oil and gas licensing round, Reuters reports. The ministry now expects the oil company to submit its investment offering to explore the two fields.

Crescent is no stranger to Iraq: Iraq activated three energy contracts inked with Crescent Petroleum last month to commence operations in developing oil and gas fields in Iraq. The three 20-year agreements with the Iraqi Oil Ministry were originally signed last February, granting the UAE-based oil company the rights to develop oil and natural gas fields in Iraq's Basra and Diyala provinces in northeastern Baghdad. Under the contracts, the company is expected to produce 400 mn cubic feet of natural gas per day over 18 months.

UAE Pass portal now has a transaction registry feature

UAE Pass Portal now has a property transaction registry feature: Real estate buyers will now be able to record real estate transactions through the UAE Pass Portal, reported Gulf News. Previously property transactions were recorded on Dubai Land Department’s REST app. The new feature is designed to increase transparency and facilitate corporate tax compliance measures.

What is a UAE Pass? The app is a national identity tool for citizens that was developed in partnership between Digital Dubai, Telecommunications and Digital Government Regulatory Authority (TDRA) and Abu Dhabi Digital Authority during GITEX 2018, according to the government portal.

How does the new feature help with tax compliance? Considering the recent implementation of the Corporate Tax law (Federal Decree-Law No. 47 of 2022) for both individuals and companies in the real estate sector, the new feature will help streamline tax reporting and improve overall accuracy. “It will facilitate ease of reporting, and along with the security features ensure that ‘price discovery’ and ‘related balances’ for corporate tax processing are captured at source, without any discrepancy in the reporting criteria,” Gulf News reported citing an unnamed tax consultant.

More transparency in real estate: “The fact all transactions are to go through UAE Pass gives potential purchasers and sellers more security for their holdings — and further bolsters confidence,” Gulf News cited the managing director of Investment Experts Muhammad Imran Khan.

NB Ventures to form a new USD 50 mn investment fund with Blume Ventures

Dubai-based VC firm NB Ventures will soon launch an investment fund with Mumbai-based VC firm Blume Ventures, Al Bayan reports citing NB Ventures CEO Neelesh Bhatnagar. The size of the fund is USD 50 mn, the Hindu Business Line claims, with the specifics of the partnership, including the targeted recipients, still under discussion.

More on the fund: The fund is expected to focus on providing advisory services to high-net individuals as well as expand further into the Asian market, according to Bhatnagar.

NB Ventures mainly focuses its investments in India,with recent investments in Pixxel, Melorra, Otto, Purplle, HealthifyMe, Leverage Edu, Pernia’s Popup, and Thirdwave. So far, the Dubai based firm has invested in 50+ startups since its establishment in 2016, according to the company’s website.

JPMorgan to expand its banking operations in Abu Dhabi

JPMorgan is doing more in Abu Dhabi: Multinational financial services firm JPMorgan is expanding its payments and corporate banking operations in Abu Dhabi, reports Reuters. The investment bank will offer deposit services and payment processing to whole banking clients from the Abu Dhabi Global Market, with which it registered as a legal entity in 2021.

JPMorgan has had a physical presence in the UAE for a decade. The Financial Services Regulatory Authority (FSRA) granted the firm in-principle approval to upgrade its license to category one yesterday, in an effort to position the UAE as a leading destination for economic activity and diversify its economy away from oil, according to Reuters.

UAE in the News on 27 November 2023

COP is leading the conversation on the UAE in the international press: Bloomberg said its Zero podcast team will be on the ground for COP28, profiling summit president Sultan Al Jaber and tracking the investment outcomes of the climate conference. The podcast’s recent episodes have voiced opinions and predictions ahead of the summit, forecasting a shift towards electric cars and solar and wind energy and examining COP’s focus on carbon capture tech.

How Adnoc will be conducting its business at the climate summit is also getting ink in a handful of places following a report from the Centre for Climate Reporting. (BBC | Sky News | CNBC)

Also making headlines:

Biden’s COP28 no-show, along with the Pope’s attendance still being in question due to the pontiff’s poor health, also made the rounds. (Associated Press)
Syrian President Bashar Al Assad will also be a no-show, with Syria’s delegation at the climate conference to be led by Prime Minister Hussein Arnous. (Reuters)

Abu Dhabi Ports making moves in Asia

PORTS + SHIPPING-

#1- AD Portsis looking to manage Indonesia’s Patimban International Port (PPI) Container Terminal in West Java, following a meeting between Indonesian Transport Minister Budi Karya Sumadi and AD Ports head of ports cluster Saif Al Mazroui, according to a statement. AD Port’s have submitted a cooperation offer proposal — with matters still being negotiated, according to the statement. This comes as Indonesia is committed to complete the development of PP1, and complete its phase 2, which will enable the terminal to handle some 3.75 mn TEUs, the statement adds.

That's not all for Abu Dhabi + Indonesia: Sumadi also met with UAE’s Energy and Infrastructure Minister Suhail Mohammed Al Mazroui and AD Ports CEO Mohamed Juma Al Shamisi, where Sumadi offered Abu Dhabi Airport’s to become a partner in developing and managing West Java International Airport Kertajati, according to a separate statement. The Kertajati Airport will have a cargo village, maintenance, repair and overhaul facilities, and commercial area’s and is set to become Indonesia’s second largest Airport, the statement added. The discussions also looked into potential cooperation between Indonesian and Emirati airlines, to form a JV company to serve the domestic aviation market, and further cooperation in land, sea, air, and rail transport, according to the statement.

#2- Expansion of shipping operations in Kazakhstan: AD Ports acquired two advanced vessels to transport Kazakhstan's oil across the Caspian Sea, with operations already commencing, according to a media release. The USD 35 mn purchase was carried out in collaboration with KazMorTransFlot (KMTF) under the joint venture Caspian Integrated Maritime Solutions. The oil tankers are tailored for the Caspian’s shallow draft and equipped with inert gas systems, complying with international oil companies’ requirements and modern standards.

UAE + Kazakhstan growing bilateral trade relations: The acquisition follows commitments to develop new trade routes connecting the Caspian Sea to Abu Dhabi and Dubai ports. The Central Asian country expressed an interest in increasing trade with the UAE to USD 1 bn in October after having already developed 46 foreign capital investment projects worth USD 4 bn last year.

ENERGY-

#1- UAE-based food and beverages giant Agthia Group has awarded Yellow Door Energy (YDE) contracts to establish two 5 MWp solar power plants, according to an ADX filing. The plants will cover 20% of the energy consumption of Agthia factories and generate 287 GWh. YDE is looking to deploy upwards of USD 1 bn in projects in the region after raising USD 400 mn from shareholders focusing on executing sustainable energy solutions.

Agthia operations get greener: The conglomerate signed an MoU with Beeah Group and Veolia Middle East subsidiary Repeet in January to assess the feasibility of a 40k sqm, 12k ton per annum polyethylene terephthalate recycling plant to cut around 18k metric tons of CO2 annually.

#2- EWEC opens Q4 auction for Clean Energy Certificates: The Emirates Water and Electric Company (EWEC) will issue the Clean Energy Certificates (CECs) in units of 1MWh, with each certificate signifying that the electricity used by the entity in receipt of the CEC originates from a clean energy source. The certificatescheme aligns with I-REC standards for Renewable Energy Certificates. Auction doors will close on 14 December.

CECs are the only accredited instruments in Abu Dhabi that prove the ownership of environmental and economic benefits of consuming clean energy, according to WAM. The certificates were introduced by the Abu Dhabi Department of Energy to help ensure that the emirate meets its clean energy and net zero goals.

AVIATION-

Air Arabia jets to Phuket: Air Arabia will be operating a new route from Sharjah to the Thai island of Phuket as of 15 December, WAM reports. The new route is expected to provide passengers with four weekly flights connecting Sharjah International Airport with Phuket International Airport.

LOGISTICS-

DP World’s Jebel Ali Freezone (Jafza) has completed phase one of Jafza Logistics Park, a multi-tenant logistics warehousing facility developed in collaboration with Emirati construction group Amana, according to a press release. The first phase covers some 563k square feet, and includes Grade-A dry and pharma storage units, temperature-controlled warehouses, office spaces, loading docks, security, and CCTV surveillance, the release adds. Phase two, also constructed by Amana, is scheduled for completion in 1Q 2025. The second phase will add another 250k square feet of storage facilities to the logistics park.

Background: Construction of the Jafza Logistics Park began in April 2022, to accommodate Dubai’s growing warehousing, processing, and logistics market. Jafza logistics park’s design uses precast concrete elements and off-site construction techniques to limit environmental impact, while using skylights to harness natural lighting and limit energy consumption, the release adds.

TRANSPORT-

Careem x CarbonSifr for eco-friendly ride-hailing: Careem is collaborating with climate-solution tech company CarbonSifr to introduce eco-friendly services in Dubai, reports Zawya. The initiative will allow Careem customers to contribute to carbon removal projects in the UAE and wider MENA region, with ride contributions funding CarbonSifr’s environmental projects, such as planting mangrove trees in the UAE.

Careem for net-zero: The car booking app has shown its green side before, with over half of its rides having been conducted by electric or hybrid vehicles this year. The new partnership aims to reduce CO2 emissions in line with the Ministry of Climate Change and Environment's target of hitting net-zero by 2050.

FINANCE-

EDB to provide funding for IREA’s renewable energy platform: State-owned Emirates Development Bank (EDB) will provide International Renewable Energy Agency (IREA) with USD 350 mn worth of funding for its Energy Transition Accelerator Financing (ETAF) platform, according to a press release. As part of the plan, EDB will fund SDG and green projects recommended by IREA, in line with the Paris Climate Agreement.

What is ETAF? A government-supported multi-stakeholder platform that finances the clean energy transition in developing countries. ETAF has already surpassed its initial fundraising target of USD 1 bn by 2030 by some USD 250 mn.

REMEMBER- The Inter-American Development Bank (IDB) committed USD 100 mn to ETAF, according to a statement last June. IDB’s new package will be used to finance sustainability projects in Latin America and the Caribbean.

Weaker USD drives gold prices to six-month highs

Gold prices jump on weaker USD: The international gold price hit its highest level in six months yesterday on the back of a weaker greenback and wagers that the Federal Reserve has reached the end of its aggressive tightening cycle, according to the Financial Times. The spot price climbed 0.6% to USD 2,014 per ounce yesterday — around 3% below its all-time high, which some analysts expect to be surpassed before the end of the year.

This could put further upwards pressure on the local market, where gold prices have hit unprecedented highs this year due to the prolonged currency crisis and soaring inflation. The price of 24-carat gold has now climbed almost 70% this year to surpass EGP 3,200 per gram as Egyptians rush into non-EGP assets to hedge against the prospect of further currency weakness.

Beijing bourse is holding investors captive: The Beijing Stock Exchange has been rejecting filings by major shareholders — those with stakes of 5% or more — to sell stocks listed on the bourse to prevent a reversal of its recent rally, Reuters reported citing three people familiar with the matter. The market's benchmark 50 Index rose 46% this month thanks to recent measures introduced by authorities to help drum up investor interest. Since its establishment in 2021, the stock has been suffering from lack of investor interest.

ALSO FROM CHINA- It was another solid month for industrial firms, which were in the green for the third month running in October, Reuters reported, citing data from the country’s bureau of statistics. Net income for the sector grew 2.7% y-o-y for the month, marking a significant slowdown from September and August’s figures.

WHISPERS-

Is PIF-backed Savvy Games Group among the suitors for Shanghai-basedMoonton Technologies, a company owned by TikTok parent company ByteDance? It’s shaping up to be a USD 5 bn sale as ByteDance looks to walk back its expansion into videogames.

ADX	9,515	-0.4% (YTD: -6.8%)
DFM	3,995	+0.1% (YTD: +19.7%)
Nasdaq Dubai UAE20	3,786.74	-0.8% (YTD: 5.6%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	5.11% o/n	5.55% 1 yr
TASI	11,129.10	+0.1% (YTD: +0.1%)
EGX30	25,906	+2.4% (YTD: +77.5%)
S&P 500	4,550	-0.2% (YTD: +18.5%)
FTSE 100	7,461	-0.4% (YTD: +0.1%)
Euro Stoxx 50	4,354	-0.4% (YTD: +14.8%)
Brent crude	USD 79.98	-0.7%
Natural gas (Nymex)	USD 2.80	-2.0%
Gold	USD 2,035.40	+0.6%
BTC	USD 37,008	-1.9% (YTD: +123.9%)

THE CLOSING BELL-

The ADX fell 0.4% yesterday on turnover of AED 830.8 mn.

In the green: Emirates Driving Company (+12.7%), Al Khaleej Investment (+12.0%) and Chimera (+4.9%).

In the red: Hayah Ins. Company (-4.6%), Bildco (-3.2%) and Aram Group (-2.8%).

Meanwhile, the DFM inched up 0.1% . The index is up 19.7% YTD.

CALENDAR

27-28 November (Monday-Tuesday): Dubai Future Forum, Museum of the Future.

27-29 November (Monday-Wednesday): Abu Dhabi International Food Exhibition, Abu Dhabi National Exhibition Centre.

27-29 November (Monday-Wednesday): Fortune Global Forum, Emirates Palace Mandarin Oriental.

27-30 November (Monday-Thursday): Abu Dhabi Finance Week (ADFW), Abu Dhabi.

28-29 November (Tuesday-Wednesday): World Green Economy Summit, Madinat Jumeirah Conference & Events Centre.

30 November (Thursday): Commemoration day, national holiday.

30 November-12 December: COP28, Expo City Dubai.

Signposted to happen some time in November:

Annual cabinet meeting.

DECEMBER

1-3 December (Friday-Sunday): Dubai Rugby 7s Tournament.

2-3 December (Saturday-Sunday): UAE national holiday.

4 December (Monday): Abu Dhabi Sustainability Week (ADSW) summit, Dubai, UAE.

4-7 December (Monday-Thursday): Big 5 Global, Dubai World Trade Centre.

4-7 December (Monday-Thursday): The Big 5 Heavy, Dubai World Trade Centre.

4-7 December (Monday-Thursday): Middle East Concrete, Dubai World Trade Centre.

4-7 December (Monday-Thursday): HAVAC R Expo, Dubai World Trade Centre.

4-7 December (Monday-Thursday): International Conference on Global Warming: The Critical Role of Oceans, Ras Al-Khaimah.

4-7 December (Monday-Thursday): Windows Door & Facades event, Dubai World Trade Centre.

4-7 December (Monday-Thursday): Gulf Glass, Dubai World Trade Centre.

4-7 December (Monday-Thursday): Middle East Stone, Dubai World Trade Centre.

4-7 December (Monday-Thursday): FM EXPO, Dubai World Trade Centre.

7 December (Thursday): Everything Architecture, Dubai World Trade Centre.

3-10 December (Monday-Sunday): Al Dhafra Book Festival, near Madinat Zayed.

8-9 December (Friday-Saturday): Global EV Show 2023, TBA.

8 December-14 January: Dubai Shopping Festival, City wide.

8-10 December (Friday-Sunday): Dubai EarthSoul Festival, Dubai Media City Amphitheatre.

8-10 December (Friday-Sunday): Sole DXB 2023, Dubai Design District.

12-14 December (Tuesday-Thursday): Organic & Natural Expo Dubai 2023, Dubai World Trade Centre.

13-15 December (Wednesday-Friday): ArabPlast 2023, Dubai World Trade Centre.

15-16 December (Friday-Saturday): Super Angels Summit, Abu Dhabi National Exhibition Centre.

Signposted to happen sometime in December:

2024

JANUARY

1 January (Monday): New years day, national holiday.

9-11 January (Tuesday-Thursday): Dubai International Pharmaceuticals and Technologies Conference and Exhibition, Dubai World Trade Centre.

9-11 January (Tuesday-Thursday): Gulf Print and Pack, Dubai World Trade Centre.

21-23 January: World of Coffee Dubai, Dubai World Trade Centre.

29 January- 1 February: Arab Health, Dubai World Trade Centre.

FEBRUARY

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

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

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

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

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

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

Signposted to happen sometime in February:

World Trade Organization Ministerial Conference, Abu Dhabi, UAE.

MARCH

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

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

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.

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

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

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.

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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