More positive 2023 macro figures

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WHAT WE’RE TRACKING TODAY

THIS MORNING: EFG Hermes 1x1 wraps today

Good morning, friends. It’s another relatively brisk newsday as the newsweek — and the tens of conferences that have come with it — winds to a close.

THE BIG STORY here at home is fresh figures from the Central Bank of the UAE and the Federal Competitiveness and Statistics Center, pointing to slower inflation and a healthier banking system in 2023. We also have positive news from a food manufacturer on plans to set up a USD 500 mn biotech production site in the UAE, more hints of a potential Etihad Airways IPO after a record year for earnings, and a Mubadala investment in an African startup-focused fund.

ALSO- It’s the final day of the EFG Hermes’ One on One Conference, the largest gathering of its kind devoted to emerging and frontier equities. Some 670 investors from 250 global institutions are meeting face-to-face with senior execs from more than 215 companies in industries. Presenting companies are from industries ranging from food and fintech to banking and petrochemicals. Companies from 29 countries are attending.

We covered the opening session from day one of the conference, which featured an interview with our friend Mahmoud Mohieldin, the UN Special Envoy on Financing the 2030 Agenda for Sustainable Development and an executive director at the International Monetary Fund yesterday, and the results of the only live poll we know of for frontier and emerging markets earlier this week. We will have more coverage from the gathering in the days ahead.

** If you’re in Dubai and want to have coffee or pitch us on an interview, hit us up on 1x1@enterprisemea.com.

PUBLIC SERVICE ANNOUNCEMENTS-

#1-You can now get work permits and residencies much faster in Dubai: TheUAE government has launched a “Work Bundle” platform to expedite residency and work permit procedures for employees in private sector companies, in Dubai, with plans to roll it out to other emirates in the future, state news agency Wam reports. The new initiative aims to streamline customer experience by consolidating five platforms into one and reducing required documentation and visits to administrative buildings, helping to cut transaction time from thirty working days to five. You can access the Work Bundle on the Invest in Dubai website,

#2-Unauthorized entities and individuals raising funds during Ramadan could be slapped with fines of up to AED 500k, Gulf News reports, citing statements from the Community Development Ministry at a media briefing. “Thirty four entities including charitable organizations and government institutions have been approved by the Ministry to receive and collect donations during the month of Ramadan,” Director of Non-Benefit Public Associations Department Mohammed Naqi said.

#3- The Economy Ministry is cracking down on price gouging during Ramadan with a task force set up to monitor nine essential items,according to a press release. The items are cooking oil, eggs, dairy, rice, sugar, poultry, legumes, bread, and wheat, and the force will be mandated to ensure that retailers are adhering to previously announced price reductions at cooperatives, which will reach up to 50%.

#4-School will be < 5 hours in Ramadan: The Knowledge and Human Development Authority has mandated that school timings in Dubai during Ramadan should not extend beyond five hours of instruction, Khaleej Times reports. Schools will have to end at 12pm on Fridays.

WATCH THIS SPACE-

#1-Dubai-based contractor Drake & Scull International will resume trading on DFM: The Dubai Financial Market greenlit the relisting of construction company Drake and Scull after the firm conducted a AED 300 mn capital increase, according to a statement. The reinstatement and the capital increase are expected upon shareholders’ approval at a general assembly meeting on 27 March.

ICYMI- Drake & Scull has been planning to raise the company’s total share capital to AED 3.5 bn by increasing its share capital by up to AED 600 mn through issuing 2.4 bn new shares at a discounted price of AED 0.75 each. The DFM approved its restructuring plan — which will write off 90% of its debt — back in November 2023, which it was required to implement within a year from approval.

Background: The construction company was suspended from trading in November 2018 on the back of excessive financial losses and reporting violations.

#2- Talks between the Abu Dhabi Investment Authority and Hong Kong telecom provider PCCW’s fiber business are losing pace, with China Merchants Group reportedly stepping in as a rival bidder, informed sources told Bloomberg, without providing further details.

Background:ADIA has been contemplating a substantial USD 1 bn minority stake in PCCW’s fiber business since mid-November 2023, Bloomberg reported previously. The business has attracted interest from Chinese investors and Middle Eastern sovereign wealth funds.

#3- Montfort Group in talks to sell Fujairah refinery to Sinopec’s fuel arm:Geneva-based trading house Montfort Group is currently in discussion to potentially offload a portion or the entirety of its Fujairah-based refining facility to the fuel oil arm of China’s Sinopec, five industry sources told Reuters. Montfort acquired the refining facility from Germany's Uniper Energy last year in a USD 80 mn transaction.

Sinopec set up an office in Dubai last year for marine fuel trading, the newswire adds, noting that it currently does not have a bunker license in Fujairah.

#4- US-based asset management company State Street plans to reopen its Dubai office, four years after closing it in favor of a space in Abu Dhabi, as it looks to consolidate its asset management services, Bloomberg reports, citing a statement from the company. The company will continue to focus on investment servicing in their office at the Abu Dhabi Global Market.

State Street sees high growth potential in the region: “Over the past three years, we have seen very strong activity levels across client categories in Saudi Arabia, Abu Dhabi, Dubai, Oman and the rest of the GCC, which has reinforced our decision to grow our team and invest in the region,” State Street Global Advisors’ head of Middle East and Africa Emmanuel Laurina said.

#5- MPs want to make it easier for people to tie the knot: The Federal National Council issued eight parliamentary recommendations aimed at regulating standards and programs for marriage grants, Emarat Al Youm reports. These recommendations include revising legislation to expand assistance beyond financial aid, abolishing income and salary cap requirements, and activating a unified coordination council to oversee the national family policy. They also suggested creating marriage training programs, a unified digital platform for marriage services, and a family social observatory to monitor social issues.

HAPPENING TODAY-

#1-The Dubai International Financial Centre will host the Global WomenSymposium today. The event will address cross-cutting issues related to women’s empowerment, diversity and equality in the financial sector.

#2- The World Police Summit concludes today at the Dubai World Trade Center. The eventwelcomed global law enforcement and security industry professionals to explore solutions to mitigate crime.

#3- Forbes’ annual 30/50 summit is on penultimate day in Abu Dhabi. Meg Ryan and Shania Twain will be among those headlining the event spotlighting the Forbes 30 Under 30 and 50 Over 50 lists, coinciding with International Women’s Day, Forbes previously reported.

#4- The Dubai Entertainment Amusement & Leisure Exhibition is on its second day at the Dubai World Trade Center. The three-day trade show will welcome global exhibitors in entertainment and amusement, before wrapping tomorrow.

#5- The UAE Powerboat Class 3 Championship kicks off today on Abu Dhabi Corniche, according to the Abu Dhabi Media Office. The three-day event will welcome local and international speedboat racing professionals before wrapping on Saturday, 9 March.

HAPPENING THIS WEEK-

#1- The Future Women Leaders Forum 2024 will take place this Friday, 8 March on International Women’s Day, at Fairmont Dubai, reports Gulf News. Organized by Gulf News and women’s empowerment organization Being She, the forum brings together women leaders to amplify regional and international initiatives for gender equality.

#2- The World Triathlon Championship Series 2024 Opening Race gets underway from Friday 8 March until Saturday, at Yas Marina Circuit on Yas Island. The event will feature athletic events for all ages, including events for people of determination. Check out the full schedule here.

DATA POINT-

The Abu Dhabi Global Market (ADGM) saw its assets under management climb 35% y-o-y in 2023,according to the Abu Dhabi Media Office. Some 1.8k operational entities registered under its wing during the period, marking a 32% increase y-o-y, with another 125 firms in the pipeline. ADGM also granted 88 financial institutions and two exchanges regulatory approvals in 2023.

Background: Global financial institutions, including JP Morgan and BNP Paribas, expanded their services and product offerings in the center over the past year as the emirate positions itself as a finance hub.

THE BIG STORY ABROAD-

Republican challenger Nikki Hailey dropped out of the race for the White House, after Trump and Biden sailed to resounding victories on Super Tuesday. “The time has now come to suspend my campaign,” the former UN ambassador told her supporters, paving the way for a Biden-Trump rematch on 5 November. (Washington Post | New York Times | Financial Times)

WHILE IN OUR REGION OF THE WORLD-Cairo ceasefire talks still in deadlock: Day four of negotiations between Hamas and Egypt-Qatari mediators in Cairo failed to land an agreement on a six-week ceasefire in Gaza yesterday, as pressure mounts on all sides to secure an end to fighting before the start of Ramadan. (New York Times | Reuters)

AND- At least three dead after Houthi missile strikes cargo ship off the coast of Yemen, US Centcom said in a statement on X.

CIRCLE YOUR CALENDAR-

The EcoWASTE Exhibition and Forum is set to take place between 16 to 18April at the Abu Dhabi National Exhibition Centre as one of the six specialized verticals within the program of the World Future Energy Summit, according to a press release. The event is organized by RX Middle East in partnership with Tadweer Group to showcase the latest technologies in the field of waste management.

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

Fresh macro figures point to a solid 2023

2023 was an all-round good year for the economy: A fresh batch of new macroeconomic figures for 2023 from the Central Bank of the UAE (CBUAE) and the Federal Competitiveness and Statistics Center point to signs of growth in the banking system and the economy last year.

SLOWER INFLATION-

#1- Inflation eased last year across the UAE to 1.6%, down from the 4.82% in 2022, Argaam reports, citing data from the Federal Competitiveness and Statistics Center. The figure falls below the 2.4% inflation figure projected by the CBUAE in its quarterly economic review (pdf).

The biggest drivers of inflation: Restaurants and hotels saw the biggest jump, up 6.63% in comparison to 2022, while the food and beverages segment jumped 3.84% y-o-y, and housing, water, electricity, and fuel, according to the data.

ICYMI- Dubai’s annual inflation inched up in January to its highest level since October 2023. Annual inflation rose to 3.60% y-o-y during the month, up slightly from 3.27% in December, while inflation in Abu Dhabi hit 1.4% (pdf) during the month. The CBUAE expects federal inflation to reach 2.1% in 2024, according to its economic review.

CBUAE BALANCE SHEET GROWTH-

#2-The Central Bank of the UAE’s balance sheet hit AED 720 bn by the end of 2023, marking a 30.5% y-o-y increase to an all-time high, according to the CBUAE’s monthly balance sheet (pdf). The figure also marked a 7.7% m-o-m increase from November’s AED 669.72.

MORE BORROWING-

#3-Banks handed out AED 1.24 tn in private sector loans in 2023, up 5.8% y-o-y, according to Central Bank of the UAE data (pdf). The commercial and industrial sector accounted for more than half, pooling some AED 822.7 bn in 2023 from banks, marking a 3.1% y-o-y increase, while individuals were granted AED 418 bn, an increase of 11.5% y-o-y.

Loans to the public sector climbed 15.5% y-o-y to AED 292.6 bn during the year.

They also made more investments last year, with total investments climbing 20.3% y-o-y to AED 634.4 bn, according to the data. Most investments went to held to maturity securities, which accounted for nearly half of investments at AED 304.8 bn, while debt securities saw AED 264.9 bn in investments.

Novel Foods to build USD 500 bn alternative sugar production site

Emirati food producerNovel Foods will establish a USD 500 mn biotech production site for a sugarsubstitute,after inking an agreement with global engineering companies Glatt Group, BioEngineering, and CB Consultancy on the sidelines of the Healthy Innovation Conference in Dubai, according to a press release. The Abu Dhabi-based alternative nutrition manufacturer has begun the planning phase for the site, but did not disclose a scheduled delivery date or location for the site.

The new biotech site will produce brazzein, a natural protein said to be sweeter than sucrose that can be produced via precision formatting, which is a process combining fermentation and precision biology. Novel Foods is currently partnering with universities and research institutions in the region to create brazzein-infused recipes, and is organizing tastings for consumer feedback.

An alternative to regular sugar: The move for the plant’s construction comes as the alternative sugar market posts an annual growth rate of 5%, compared to its traditional sucrose competitor’s 1% yearly growth, according to the statement. Sugar was in a global supply shortage at the end of last year, owing to damaged crops in India and Thailand that pushed sugar prices in the UAE to an all-time high.

Mubadala and France’s Bpifrance invest in Partech Africa II

Mubadala and French public investment bank Bpifrance have co-invested in Partech Africa II, the latest Africa-focused venture capital fund launched by global tech investment firm Partech, Wam reports. The value of the co-investment was undisclosed.

The co-investment marks the initial commitment within Mubadala and Bpifrance’s EUR 350 mn (AED 1.4 bn) Africa partnership that was announced in June 2021. Both parties had planned to invest in high-growth African startups, SMEs, and mid-market companies through funds and direct investments, The National writes.

Partech Africa II, capped at EUR 280 mn, stands as the largest venture capital fund exclusively designed for African startups,according to a Partech press release. The fund provides initial investments with ticket sizes ranging from USD 1 mn to USD 15 mn to startups throughout from seed to series C rounds. The fund has secured backing from more than 40 international investors to date, including commercial entities, family offices, and major Development Finance Institutions.

REMEMBER- Dubai Future District Fund (DFDF) participated in Africa II fund’s close last month, it said in a statement (pdf). DFDF’s exact investment was not disclosed.

Dubai ruler appoints Emirates CEO as deputy chairman of Dubai Executive + Strategic Affairs councils

Emirates CEO gets a seat at the Dubai decisionmaking table:Dubai ruler Mohammed bin Rashid Al Maktoum appointed Dubai Civil Aviation Authority Chairman and Emirates CEO Sheikh Ahmed bin Saeed Al Maktoum to the DubaiExecutive Council and the Strategic Affairs Council yesterday after ratifying two official decrees, Wam reports.

The ruler appointed Sheikh Ahmed bin Saeed Al Maktoum as a third deputy chairman of the council, working alongside First Deputy Ruler of Dubai Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum and Second Deputy Ruler Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum.Crown Prince of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum chairs the council.

The Emirates CEO was also appointed as deputy chairman of the Strategic Affairs Council, which is chaired by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum also serves as a deputy.

Refresher: A new law approved earlier this year handed the Dubai Executive Council the authority to advise the emirate’s ruler on strategic affairs, policy endorsement, national prioritization, and enhancing government legislation. The Strategic Affairs Council — an affiliate of the Executive Council — handles the authority to approve public policies, including the Dubai Strategic Plan, submitting them for authorization to the Executive Council.

Etihad Airways reports fivefold income growth to AED 525 mn in FY2023

Etihad posts stellar earnings, says it’s preparing for a potential IPO: National airline Etihad Airways saw its net income increase almost fivefold in 2023, as the airline looks to boost profitability to prepare itself in the likelihood of a potential IPO. Net income rose to AED 525 mn, up 470% y-o-y, the ADQ-owned carrier said in a statement.

Etihad posted an 11% y-o-y jump in total revenues to AED 20.3 bn in 2023, with passenger revenue growing by AED 4 bn to AED 16.7 bn. Etihad attributed the robust performance to a 40% y-o-y increase in passenger numbers to 14 mn.

Refresher: Bloomberg recently reported that ADQ is considering listing Etihad on the public market. The wealth fund reportedly held talks with banks for a potential offering that could be “as soon as this year,” with the specific timing and size of the offering still undecided. The business information service said ADQ is eyeing going after both a traditional IPO and direct listing.

It will happen “whenever the shareholder believes it is the right time,” Neves told CNBC (watch, runtime 4:36) on Tuesday, saying he cannot confirm whether the company is currently planning an IPO. The airline is focusing on improving its governance “so that profitability is at the level that the shareholder can decide to IPO or not to IPO… we are putting a lot of effort in place so that the company can be compared to any other company that is listed.”

Background: ADQ was transferred full ownership of Etihad from the Supreme Council for Financial and Economic Affairs back in October 2022.

Looking ahead, the carrier is expecting 25-30% revenue growth in 2024,with plans to cut USD 100-150 mn in cost cuts, Neves said.Etihad also targets increasing its passenger numbers to 33 mn by 2023 and doubling its fleet to over 160 aircraft.

The story was covered by other international outlets. Reuters | Bloomberg

Shuaa Capital, Apex Investment see more resignations + United Arab Bank has a new chairman

We have news of several resignations from two asset management firms in the UAE, and a new chairman for United Arab Bank.

Shuaa Capitalaccepted the resignation ofits group chief legal and compliance officer Bashir Al Nawar(LinkedIn), giving him two more months at the company, according to a DFM disclosure (pdf). The announcement comes one week after news of the resignation of its head of private markets, Ajit Joshi (LinkedIn).

Refresher: The company — which has seen net losses deepen more than fivefold over the past year — also sawCFO Gunshyam Kripa resigning earlier in January (pdf), after seven months in the position, along with board members André George Sayegh (pdf), and Maha AlQattan (pdf) for “personal reasons.”

ADX-listed holding company Apex Investmentappointed Hamad Al Shamsi, Futoon Hamdan Al Mazrouei, and Saje Thomas as board members, after approving the resignations of former board members Mansour Al Mansouri and Issa Khoury in February, according to an ADX disclosure (pdf).

REMEMBER- The company posted a net loss of AED 58.4 mn and an 11.8% y-o-y drop in revenues to AED 723.5 mn in 2023.

United Arab Bank has tapped Mohammed Bin Faisal Al Qassimias itschairman, and Omar Hussain Al Fardan as its vice chairman, according to an ADX filing (pdf) reads. Al Qassimi, founder of investment company Manafa, also serves in leadership roles at both the Italian Chamber of Commerce in the UAE and Faisal Holding, according to his biography (pdf) .

UAE passport ranks sixth strongest globally in 2024 –Nomadic Capitalist

CNBC picked up an annual index that ranks the UAE passport as the sixth strongest globally this year,down from first place in 2023, according to Nomadic Capitalist’s annual index. The index attributed the decline to changes in UAE tax policy that affect domestic and foreign company owners.

New Etihad Rail passenger service station in Sharjah + DMCC gets a sustainability hub

TRANSPORT-

Etihad Rail has inked an agreement with Tristar Engineering and Construction to build a new Etihad Rail passenger service station near University City in Sharjah, connected to the main UAE-wide line, state news agency Wam reports. The project aims to boost daily ridership — especially for university students — on Etihad Rail to approximately 14k passengers per week.

Background: The passenger network aims to link 11 cities and regions across the country, from Al Sila to Fujairah, taking in Sharjah, Al Ruwais, Al Mirfa, Fujairah, Al Dhaid, Abu Dhabi and Dubai. The exact timeline for passenger operations has not been disclosed.

DEBT-

Beeah Group has secured an environmental, social, and governance (ESG) linked financing facility fromEmirates Islamic Bank, according to a press release. The facility includes a Shariah-compliant term financing and a liquidity murabaha structure.

Where the funds will go: The funding will support Beeah’s clean energy, green mobility, and waste management projects, and will also be used to invest in modern technologies for sustainability initiatives in the UAE and the GCC. Emirates Islamic will also partner with BEEAH on education and awareness initiatives for promoting sustainable practices.

SUSTAINABILITY-

The Dubai Multi Commodities Centre (DMCC) now has a sustainability hub in a bid to promote environmental, social and governance (ESG) practices across its 24k member companies, according to a press release. The hub, which will be run in partnership with social enterprise C3, will allow companies to network, and will provide them with mentorship and access to financing through ESG-focused venture capital firms and accelerator programs. Existing DMCC members can gain membership without charge following an evaluation process.

LOGISTICS-

DP World to host Dubai Chamber offices abroad: Dubai Chambers has inked a strategic MoU with UAE-based port operator DP World to host the former’s offices at its facilities abroad, according to a Dubai Media Office statement. The agreement comes as part of plans to establish 50 international representative centers for Dubai Chambers by 2030 to reel in foreign direct investment and talent to the emirate, the statement said.

EDUCATION-

Harrisburg University lands in Dubai: US science and technology-focused university Harrisburg University of Science and Technology inaugurated a new campus in Tecom Group ’s Dubai Knowledge Park, reports Wam. The Dubai campus is the university’s first in the Middle East and North Africa.

AVIATION-

Emirates airline and Aida Cruises have extended their partnership for two more seasons as Dubai looks to expand its cruise capacity, according to a press release. Emirates and Aida Cruises, two of Dubai’s major industry players, have teamed up to explore joint marketing, operational alignment, and planning, including coordination of flight schedules and transportation between Dubai International Airport and Dubai Harbour Cruise Terminal.

US-Bangla Airlines is launching weekly flights from Dhaka and Chattogram to Abu Dhabi starting 19 April, according to a statement.

FINANCE-

MBME Group payments subsidiary MBME Pay inked an agreement with Gargash Group’s Deem Finance to allow its customers to access the latter’s digital services, according to a statement (pdf).

UBS CEO blames European regulations for giving US banks the upperhand

UBS chief slams European banking regs: Swiss banking giant UBS CEO Sergio Ermotti criticized European regulators for intentionally hindering European banks and allowing US rivals to get ahead in a podcast interview with Nicolai Tangen, CEO of Norwegian sovereign wealth fund Norges Bank Investment Management.

“Europe did everything they could have done to not allow banks to be bigger or successful” following the financial crisis, said Ermotti, who is overseeing the UBS takeover of embattled Swiss rival Credit Suisse. “There’s a political desire to not allow banks to become too big” in Europe, Ermotti added. By contrast, US policymakers wanted banks "to be the leading force going forward in the financial services industry, so they allowed them to grow," he argued.

A fragmented regulatory environment is a prime culprit: The absence of capital market and banking unions “has prevented the creation of strong and alternative players," Ermotti said.

As is the “parochial” mindset of European policymakers: "There is … still a lot of parochial thinking in Europe about big banks," he said. "Each wants to have their own national champions, forgetting that winning the national championships doesn't take you very far [globally]."

	ADX	9,225	-0.1% (YTD: -3.7%)
	DFM	4,248	+0.1% (YTD: +4.6%)
	Nasdaq Dubai UAE20	3,696	-0.2% (YTD: -3.8%)
	USD : AED CBUAE	Buy 3.67	Sell 3.67
	EIBOR	5.0% o/n	5.3% 1 yr
	TASI	12,561	+0.7% (YTD: +5.0%)
	EGX30	29,743	-3.0% (YTD: +19.5%)
	S&P 500	5,104	+0.5% (YTD: +7.0%)
	FTSE 100	7,679	+0.4% (YTD: +0.7%)
	Euro Stoxx 50	4,915	+0.5% (YTD: +8.7%)
Up	Brent crude	USD 82.91	+1.1%
Down	Natural gas (Nymex)	USD 1.93	-1.4%
Up	Gold	USD 2,158.20	+0.8%
Up	BTC	USD 66,398.66	+5.0% (YTD: +57.4%)

THE CLOSING BELL-

The ADX fell 0.1% yesterday on turnover of AED 934.2 mn. The index is down 3.7% YTD.

In the green: Gulf Cement Co. (+7.9%), Phoenix Group (+3.9%) and National Bank of Umm Al Qaiwain (+2.6%).

In the red: Ooredoo (-7.5%), Response Plus Holding (-6.6%) and Burjeel Holdings (-4.7%).

Over on the DFM, the index closed up 0.1% on turnover of AED 324.1 mn. Meanwhile Nasdaq Dubai fell 0.2%.

CORPORATE ACTIONS-

Agthia’s board has proposed a dividend payout comprising AED 81.1 mn in cash dividends and AED 39.6 mn in stock dividends, totaling AED 120.7 mn, for 2023, according to an ADX disclosure (pdf). The company will make the final decision in its upcoming general assembly meeting on 23 April.

Fujairah Building Industries has proposed a dividend payout of AED 40.8 mn for 2023, an ADX disclosure (pdf) reads.

Noura Al Kaabi calls for ceasefire and two-state solution in OIC meeting

UAE calls for an immediate ceasefire in OIC meeting: Minister of State Noura Al Kaabi, who led the UAE delegation at the Extraordinary Meeting of the OIC Council of Foreign Ministers in Jeddah, Saudi Arabia, called for an immediate ceasefire during the meeting, Wam reports. Al Kaabi reiterated the UAE's rejection of Israel's crimes, called for an end to the war, and advocated for a two-state solution to ensure safety and stability in Gaza.

President Sheikh Mohamed Bin Zayed Al Nahyan met yesterday with Sierra Leone President Julius Maada Bio in Abu Dhabi, where the two discussed strengthening cooperation, particularly in the areas of economy, trade, and investment, reports Wam.

CALENDAR

MARCH

4-7 March (Monday - Thursday): EFG Hermes One on One conference, JW Marriott Hotel Marina, Dubai.

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

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

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

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

5-12 March (Tuesday-Tuesday): Subscription period for retail investors for Parkin’s IPO.

5-13 March (Tuesday-Wednesday): Subscription period for institutional investors for Parkin’s IPO.

7 March (Thursday): Beyond Global Trade, Edition Hotel, Dubai.

7-9 March (Thursday-Saturday): UAE Powerboat Class 3 Championship, Abu Dhabi Corniche.

8 March (Friday): Future Women Leaders Forum 2024, Fairmont Dubai.

8-9 March (Friday-Saturday): World Triathlon Championship Series 2024 Opening Race, Yas Marina Circuit on Yas Island.

11/12 March (Monday/Tuesday): Start of Ramadan.

11 March (Monday): Dubai’s PMI figures are out.

21 March (Thursday): Parkin shares begin trading.

APRIL

TBC April: DRIFTx, Abu Dhabi.

9/10 April (Tuesday/Wednesday): End of Ramadan, public holiday.

8-12 April (Monday-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): EcoWASTE Exhibition and Forum, Abu Dhabi National Exhibition Centre

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

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

24-25 April (Wednesday-Thursday): Ras Al Khaimah Investment and Trade Summit, Rak Exhibition Centre.

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

23-25 April (Tuesday-Thursday): Argus Fertilizer Asia Conference, Abu Dhabi.

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

24 April-1 May (Wednesday-Wednesday): Abu Dhabi Mobility Week.

29-30 April (Monday- Tuesday): Dubai World Ins. Congress, Atlantis, The Palm.

MAY

6-7 May (Monday-Tuesday): Dubai Fintech Summit 2024, Madinat Jumeirah.

7-9 May (Tuesday-Thursday): AIM Congress 2024, Abu Dhabi.

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

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

14-16 May (Tuesday-Thursday): The Airport Show, Dubai World Trade Centre.

15 May (Wednesday): HFM Summit, DIFC.

18-26 May (Saturday-Sunday): Abu Dhabi Comedy Week, Abu Dhabi.

JUNE

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

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

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

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

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

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

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

JULY

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

SEPTEMBER

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

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

OCTOBER

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

NOVEMBER

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

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

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

DECEMBER

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

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

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