One month until Covestro approves Adnoc’s takeover bid?

1

WHAT WE’RE TRACKING TODAY

THIS MORNING: UBS also sees GDP growing at more than 5% -CEO + Vietnamese PM in the UAE

Good morning, lovely people. We have a brisk issue for you this morning, with just a couple of big stories worth your attention. On the M&A front, Adnoc’s takeover bid for Covestro has entered the acceptance period, leaving shareholders a month to approve the transaction. And in other news, the driving age has been lowered to 17, with a package of new traffic regulations coming into effect next year.

WEATHER- Temperatures are slowly cooling in the UAE, with the mercury in Dubai peaking today at 35°C, and reaching 28°C overnight. In Abu Dhabi, expect a high of 31°C and an overnight low of 29°C.

WATCH THIS SPACE-

#1- UBS Global Wealth Management's CIO Michael Bolliger sees the UAE's GDP topping 5% in 2025, matching the IMF’s latest projections, Wam reports. The upbeat outlook is driven by the UAE’s ramped-up oil production and favorable external forces, including China’s recent stimulus package, monetary policy easing, and the lower reserve requirement rate.

#2- Indian conglomerate and oil refinery operator Reliance Industries plans to relocate most of its Dubai crude oil trading team back to Mumbai by the end of the year, two unnamed sources told Reuters. This relocation aims to reduce costs, especially after securing long-term oil supplies from Russia and conducting long-term import agreements with Middle Eastern producers, making spot cargo trading less important. Dubai’s office will have just three to four brokers, who are also set to leave eventually to Mumbai. Meanwhile, the product trading team will continue to operate in Dubai for the time being.

Background: Reliance Industries commenced its Dubai operations in 2021, capitalizing on the city’s position as a hub for Russian oil trade. The firm currently imports about 40% of its oil needs from Moscow.

#3- The UAE has clinched the presidency of the Arab Parliament, with Federal National Council member Mohammed Al Yamahi elected to serve as president, according to news reports (here and here).

#4- Participants in the Road 2.0 initiative published a declaration of intent to adopt and promote zero-emission vehicles, Wam reports. Backed by the Energy and Infrastructure Ministry, the initiative includes 17 businesses committed to decarbonizing 30% of their transport fleet by 2030 and achieving 100% decarbonization by 2040. Plans are in place to have around 90 commercial electric vehicles (EVs) on the roads by the end of the year, with a target of procuring up to 6k zero-emission vehicles by 2030 and reaching 20k by 2040.

#5- Savings and investment company National Bonds plans to develop real estate projects worth USD 1.5 bn over the next five years, the company’s CEO Mohammed Qasim Al Ali told Al Khaleej. The firm is also eyeing potential investments in the education and health sectors.

PUBLIC SERVICE ANNOUNCEMENTS-

#1- More flights halted: Flydubai suspended or rerouted its flights to Jordan, Iraq, Iran, and Israel on Saturday following Israel’s airstrikes on Tehran, a spokesperson for the budget airline told Khaleej Times. Abu Dhabi’s Etihad Airways redirected several of its flights on Saturday, anticipating that disruptions would last for the next 48 hours, a spokesperson told the news outlet.

Remember- Flights operated by Dubai’s flag carrier Emirates to and from Baghdad and Tehran remain suspended until 30 October, while flights between Dubai and Beirut remain canceled until 31 October.

#2- Vessels can now start booking anchorage services at Jebel Ali’s new anchorage area, according to a statement. Services will include bunkering, crew changes, repairs, and special technical services, according to a separate circular (pdf).

DATA POINTS-

#1- Emirati investors contributed the lion’s share to Saudi Arabia’s net FDI last year, with investments valued at SAR 16 bn, according to a report from the Saudi investment ministry (pdf).

#2- The UAE’s freezones collectively saw the number of business licenses registered climb to 203k as of 3Q 2024, representing 22% of the country’s total licenses, Al Bayan reports. This marks an 18% increase over 9M 2023, with nearly 31k new licenses added

By the emirate: Dubai leads the way with around 55% of freezone licenses, totaling over 111k across 15 freezones. Ras Al Khaimah follows with 42.9k licenses, Sharjah has 38.9k, and Abu Dhabi rounds out the list with 10k licenses.

HAPPENING TODAY-

#1- Vietnamese Prime Minister Pham Minh Chinh arrived in Abu Dhabi yesterday for talks with President Sheikh Mohamed bin Zayed Al Nahan, as well as Prime Minister Sheikh Mohammed Bin Rashid Al Maktoum, according to separate reports from Wam and Vietnamese press. Cooperation agreements are set to be inked between the two countries, with Chinh also set to attend a Vietnam-UAE business forum.

Chinh already met with officials from several UAE firms yesterday to discuss potential investments in Vietnam, including AD Ports, NMDC, and Emirates Driving, according to separate reports. Chinh discussed potential cooperation on electrical vehicle production between Emirates Driving and Vietnamese automotive firm Vinfast, as well as cooperation between NMDC and Petrovietnam on gas, offshore wind and power development, and sea reclamation.

REMEMBER- The two countries are finalizing terms of their trade and economic partnership agreement, which seeks to expand economic cooperation between the two countries.

#2- The MENA Climate Proof Forum kicks off today and runs until tomorrow in Dubai. The event will address regional-specific climate challenges, with the aim of accelerating action and readiness for climate-related disasters.

HAPPENING THIS WEEK-

#1- Abu Dhabi Crown Prince heads to Singapore tomorrow: Sheikh Khaled bin Mohamed bin Zayed Al Nahyan is set to visit Singapore tomorrow, where he is scheduled to meet with the country’s Prime Minister Lawrence Wong, Wam reports. He is also set to explore potential cooperation with senior officials and executives from the tech, AI, and urban planning sectors.

#2- OneConnect Dubai 2024 will take place tomorrow at the Marriott Resort Palm Jumeirah in Dubai, according to a press release. The event will bring together global cybersecurity experts and local thought leaders, featuring keynote sessions by industry leaders, a CISO panel discussion, and discussions with professionals from the UAE and the wider Middle East.

#3- TheSharjah International Conference in Biotechnology (SICBiotech) will take place tomorrow and after at the University of Sharjah. The event will bring together leading scientists in biotechnology.

#4- The Healthcare Future Summit is set to take place at the Dubai World Trade Center tomorrow and after, according to a statement. The summit will discuss advances in disease management, AI integration to streamline vaccine distribution, and resource management, with a focus on vaccine policies in the GCC.

#5- Dubai will host the World Cities Cultural Summit from 30 October to 1 November. The summit probes how cities can create a fostering environment for artists and entrepreneurs, while addressing global challenges, such as the climate crisis and AI.

#6- The Connected Construction Conference will kick off on 30 October at the Museum of the Future in Dubai, welcoming leaders, decision-makers, and BIM specialists from the construction industry to showcase new technological advancements and address challenges facing the sector.

#7- The Binance Blockchain Week will take place on 30 and 31 October in Dubai. The conference will welcome traders, builders, founders, institutional investors, regulators, global officials, and innovators to discuss the future of blockchain and Web3 technology.

THE BIG STORY ABROAD-

Election news, escalations between Iran and Israel, and chatter around a potential ceasefire in Gaza continue to push business news further to the bottom of the foreign press’ front pages.

Japan’s ruling coalition lost its parliamentary majority for the first time since 2009 in snap elections yesterday, according to public broadcaster NHK’s projections, casting the country into political uncertainty. While the Liberal Democratic Party lost seats, Japan’s largest opposition party — the Constitutional Democratic Party — made big gains.

Market analysts are expecting the JPY and the Nikkei to suffer from an expected uncertainty in the legislative process of the country, Semafor said. The JPY has already weakened to its lowest level in almost three months following the news, Bloomberg reports. The Nikkei, however, has yet to show signs of faltering, rising 1% in early trade this morning, while the Topix is also up.

Israeli and Iranian officials are making their thoughts known on the impact of Israel’s strikes on Iran on Saturday, with Israeli Prime Minister Benjamin Netanyahu claiming the attack “severely [harmed] its defense capabilities and its ability to produce missiles that would be launched at us,” after Israeli officials initially kept quiet on the details of the strike, Bloomberg reports. Iran’s supreme leader, Ali Khamenei, on the other hand, said the strike must “neither be downplayed nor exaggerated,” BBC reported. The UAE condemned the attack in a Foreign Affairs Ministry statement, expressing “deep concern” over the escalation and emphasizing the need for a diplomatic resolution.

What about that ceasefire in Gaza? Egypt’s President Abdel Fattah El Sisi said (watch, runtime: 21:55) yesterday that Egypt has proposed an initial two-day ceasefire in Gaza to exchange Israeli detainees of Hamas for Palestinian prisoners. The temporary ceasefire would then see permanent ceasefire talks resume within 10 days, El Sisi added.

It’s unclear if Israel and Hamas are on board: Unnamed sources told Al Arabiya that both sides signaled it will commit to the new accord, though Israeli reports claim Israeli Prime Minister Benjamin Netanyahu is still set on continuing its invasion and strikes on northern Gaza during ceasefire negotiations, going against one of Hamas’ key conditions.

The situation on the ground remains dire: El Sisi’s announcement came as Israeli strikes killed 75 Palestinians across Gaza, with the UN describing the situation in northern Gaza as “unbearable.”

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CIRCLE YOUR CALENDAR-

Adipec will take place between 4-7 November at Adnec center Abu Dhabi. The event will bring together the global energy industry to examine the roles of AI and finance in advancing the energy transition. The event will feature three new conferences that include perspectives from finance, technology, youth, and the Global South.

Gulfood Manufacturing will take place between 5-7 November at the Dubai World Trade Center. The event will showcase trends and solutions in global food manufacturing, with more than 2.5k companies set to attend.

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

Covestro shareholders have until 27 November to accept Adnoc takeover bid

Acceptance period for Adnoc's Covestro takeover bid kicks off: The acceptance period for Adnoc’s voluntary public takeover offer for German chemicals manufacturer Covestro has started and will end on 27 November, Reuters reports.

What’s an acceptance period? Under German law, the acceptance period starts as soon as the official offer documents are published, and can be extended in the event of a rival bid with a longer acceptance period or if the offer is amended in the final two weeks of the acceptance period, or if the target firm requests a general meeting. The company is required to publish the acceptance rate of the offer among voting shareholders weekly until the start of the final week of the period and daily during the final week. A grace period of two weeks following the end of the acceptance period will be available for shareholders who have yet to accept the offer.

The details: The offer price is set at EUR 62 per share (c. USD 67.06), which amounts to a premium of some 54% over Covestro's unaffected share price prior to the announcement, making it the biggest acquisition from a Middle Eastern buyer in Europe in 16 years.

Background: Adnoc has been in ongoing negotiations for the takeover for more than a year. Earlier this month, Adnoc confirmed its agreement to acquire Covestro for EUR 14.7 bn (c. USD 16.3 bn), which includes EUR 3 bn in debt. The state-owned oil giant plans to purchase EUR 1.17 bn worth of new shares from Covestro as part of a 10% capital increase.

OTHER M&A NEWS-

Emirati investment firm Fundament Capital Investment Management now owns a 6.86% stake in the Moscow Exchange, Interfax reports. The main shareholders of the Moscow Exchange are now the Bank of Russia with an 11.7% share, Sberbank with 10%, and Vnesheconombank (VEB) with 8.4%, while US-based State Street Bank and Trust Company’s stake in the exchange dropped to 2% from 5.3% following the transaction.

UAE lowers minimum driving age to 17 + introduces new traffic regulations

The UAE lowered the minimum driving age to 17 from 18 previously, and introduced new traffic regulations through a federal decree-law, effective from 29 March 2025, according to the UAE government. The law includes severe penalties for serious offenses, such as driving under the influence, fleeing accident scenes, and jaywalking. It will also see the establishment of a Federal Traffic Council.

The law will also establish inspection and licensing requirements for self-driving vehicles, with a cabinet resolution set to detail procedures. The licensing authority will create online platforms for obtaining licenses and permits.

Penalties and fines were updated as follows:

Driving under the influence of alcohol: Imprisonment and a fine between AED 20-100k or either penalty, as well as a suspension of the license for varying periods depending on whether it’s a first-time or a repeat offense;
Driving under the influence of narcotics: Imprisonment and a fine between AED 30-200k, or either penalty, with the driver’s license suspended for either six months or a year depending on whether it’s a first-time or repeat offense, and canceled on the third repeat;
Driving with a suspended license: Imprisonment for up to three months and a minimum fine of not less than AED 10k, or either penalty;
Fleeing an accident scene: Imprisonment for up to one year and a fine between AED 50-100k or either penalty;
Causing death through negligence: Imprisonment and a fine of no less than AED 50k; if under aggravating circumstances, imprisonment for at least one year and a fine of no less than AED 100k;
Improper road crossings: Imprisonment and a minimum fine of AED 10k if crossing roads with a minimum speed limit of 80km per hour, and a fine between AED 5-10k for other roads if resulting in an accident.

More earnings from Ghitha, NMDC, and Emirates Driving

NMDC-

The National Marine Dredging Company (NMDC)’s net income rose 16% y-o-y to AED 731 mn in 3Q 2024, according to the company’s financial statements (pdf). The company’s revenues rose 50% y-o-y during the quarter to AED 6.4 bn.

In 9M 2024, NMDC’s net income increased 45% y-o-y to AED 2.2 bn, according to the company’s management discussion (pdf). NMDC’s top line rose 68% y-o-y to AED 18.5 bn during the period.

What they said: “This has been an important quarter operationally, with the delivery of multiple strategic initiatives culminating in the successful listing of NMDC Energy,” Mohamed Al Rumaithi, Chairman NMDC Group said, Wam reports.

The firm approved a special dividend payout of AED 2 bn, equivalent to AED 2.37 per share, to the company’s shareholders.

Looking ahead: NMDC Energy plans to ramp up investments in offshore wind energy assets, Ahmed Al Dhaheri, CEO of NMDC Energy said in an interview with CNBC (watch, runtime: 7:31).

GHITHA HOLDING-

Abu Dhabi-based food manufacturer Ghitha Holding’s net income declined by 78.2% y-o-y to AED 42.5 mn in 3Q 2024, according to its financial statements (pdf). The company’s revenue slightly declined by 2% y-o-y to AED 1.2 bn in this quarter. On a 9M basis, net income climbed by 3011% to AED 2.8 bn, as a result of a one-time windfall from an AED 2.7 bn derecognition of a subsidiary, while revenues increased by 10.8% to AED 3.7 bn.

This nine-month performance was also attributed to the company’s operational strategies, including acquiring key assets, expanding into new markets, and diversifying product lines, according to its management report (pdf).

EMIRATES DRIVING-

Emirates Driving’s 3Q 2024 net income rose 27.2% y-o-y to AED 87.5 mn, according to the company's financials (pdf). Revenues reached AED 161.7 mn, marking a 71.8% increase y-o-y.

During the first nine months of the year, Emirates Driving Company reported a net income of AED 206.8 mn, reflecting a 7.1% increase y-o-y. Revenues grew 27.8% y-o-y to AED 337.5 mn.

RTA awards AED 696 mn contract for Trade Center roundabout development

TRANSPORT-

Dubai’s Roads and Transport Authority awarded a AED 696.4 mn contract to develop the area around the Trade Center roundabout, without disclosing the identity of the awarded bidder, according to a statement from the Dubai Media Office. The project aims to connect Sheikh Zayed Road with five main streets, namely, Sheikh Khalifa bin Zayed Street, Sheikh Rashid Street, 2 December Street, Zabeel Palace Street, and Al Mustaqbal Street.

The details: The project will see the construction of five bridges and the conversion of the existing roundabout into a surface intersection. The project aims to double the intersection’s capacity, cut the delay time to 90 seconds from 12 minutes, and reduce the travel time between Sheikh Zayed Road and Sheikh Khalifa bin Zayed Street to a minute from 6 minutes.

What’s next? The authority also plans to award a contract for the development of Al Mustaqbal Street next month.

SUSTAINABILITY-

Adnec Center Abu Dhabi plans to go green: Adnec Group signed an agreement with the Emirates Water and Electricity Company (Ewec) to secure 100% of Adnec Center Abu Dhabi's electricity needs using Ewec’s renewable energy sources, according to the Abu Dhabi Media Office. The move will make Adnec Center Abu Dhabi the first and largest event venue in the Middle East to be powered via clean energy.

BUSINESS-

Dubai Chamber of Commerce formed the Korean Business Council to facilitate trade between private sector companies in Dubai and South Korea, according to the Dubai Media Office.

FOOD-

State-led initiative FoodTech Valley inked an agreement with Badia Farms to implement a hybrid farming project using vertical and horizontal farming methods for year-round fruit and vegetable production, according to a Dubai Media Office statement. This sustainable farming initiative, established under a 27-year agreement, is expected to use 90% less water compared to traditional farming and will be powered by renewable energy sources.

ADVERTISING-

Global digital marketing agency Aleph has expanded its partnership with Reddit to the UAE, as well as Saudi Arabia and Egypt, in a bid to support local advertisers and agencies in the region, it said in a statement (pdf). The extended partnership will see Aleph assist Reddit in expanding its digital advertising ecosystem to MENA, following successful rollouts in Central Europe and Asia-Pacific.

FINANCE-

UAE Exchange Center loses payment system operator status in India: The UAE Exchange Center, a Dubai-based remittance and foreign exchange services firm, has had its authorization revoked by India's central bank due to failure to meet regulatory requirements, Reuters reports.

Corporate market on thin ice: Record trade masks looming risks

The US corporate bond market wrapped up its busiest month on record in September with an average daily volume exceeding USD 43 bn, but cracks could be forming under the surface, the IMF warned last week in its Global Financial Sustainability Report. Although trading activity surged, narrow credit spreads are raising concerns about a sudden repricing of bonds if markets face turbulence, Bloomberg reports.

A downturn could hit when it’s least expected: While current liquidity appears strong, the IMF cautioned that smooth trading conditions often vanish in times of stress. A sudden market shock — such as volatility surrounding the upcoming US presidential election — could trigger a rapid deterioration. “It just looks like a disaster in the making,” said Global Head of Investment Grade Debt at Goldman Sachs Group Jonny Fine.

The rise of e-trading is helping: Platforms like MarketAxess and Tradeweb have supported liquidity, with 50% of high-grade bonds now traded online. Portfolio trading, where large blocks of bonds are exchanged in a single transaction, has also become a key driver, making up 25% of dealer-client trades last month, up from near-zero in 2018.

Risks remain, despite record numbers: While the US Federal Reserve’s policy outlook supports the market, analysts warn that complacency could backfire. “My concern is the kind of self-fulfilling prophecy of everybody thinking liquidity is good and getting better,” the business information service quotes head of fixed income sales and trading at US Bank Blair Shwedo as saying. “Does that lead us to a point where, because everybody’s under the assumption that liquidity is really good, the music stops and we see a drastic deterioration?”

Bottom line: In anticipation of volatility striking at any time, analysts are already preparing for a tougher environment, with some pointing to weaker economic data, potential policy shifts, and corporate refinancing challenges as risks to watch.

Upcoming data points to watch:

USD 20 bn of high-grade US bond sales are expected next week.
US GDP for 3Q 2024 will likely come in at 3.1%, according to Bloomberg Economics.
October payrolls report on 1 November could show the first negative figure since 2020.
Eurozone inflation is projected to hold steady at 1.7% in October.

MARKETS THIS MORNING-

Asian markets are broadly in the green in early morning trading, with the Nikkei up 1.5% and the Shanghai Composite up 0.2%. The Hang Seng Index is just barely in the red. Meanwhile, futures indicate Wall Street is set to open in the green later today.

ADX	9,204	+0.1% (YTD: -3.9%)
DFM	4,479	+0.3% (YTD: +10.3%)
Nasdaq Dubai UAE20	3,739	+0.3% (YTD: -2.7%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	4.7% o/n	4.3% 1 yr
TASI	12,069	+1.5% (YTD: +0.9%)
EGX30	30,812	+0.9% (YTD: +23.8%)
S&P 500	5,808	0.0% (YTD: +21.8%)
FTSE 100	8,249	-0.3% (YTD: +6.7%)
Euro Stoxx 50	4,943	+0.2% (YTD: +9.3%)
Brent crude	USD 76.05	+2.3%
Natural gas (Nymex)	USD 2.56	+1.5%
Gold	USD 2,755	+0.2%
BTC	USD 67,762	+0.8% (YTD: +60.3%)

THE CLOSING BELL-

The DFM rose 0.3% on Friday on turnover of AED 216.0 mn. The index is up 10.3% YTD.

In the green: Al Ramz Corporation Investment and Development (+4.2%), Parkin Company (+3.0%) and Commercial Bank of Dubai (+2.9%).

In the red: National General Ins. Company (-9.4%), Al Firdous Holdings (-4.4%) and Emirates Reem Investments Company (-2.4%).

Over on the ADX, the index rose 0.1% on turnover of AED 926.8 mn. Meanwhile Nasdaq Dubai closed up 0.3%.

FM meets with Antony Blinken on his trip to MENA + Sheikh Tahnoon bin Zayed Al Nahyan met with Qatar’s Emir to discuss bilateral ties

UAE Foreign Affairs Minister Sheikh Abdullah bin Zayed Al Nahyan met with US Secretary of State Antony Blinken last week, focusing on UAE-US ties, following President Sheikh Mohamed bin Zayed Al Nahyan’s visit to the US, Wam reports. The two leaders also discussed regional issues, including Gaza’s humanitarian crisis, recent developments in Lebanon, and the importance of a ceasefire to protect civilians. Blinken was on his 11th visit to the region since the Gaza war to discuss a potential ceasefire with negotiators.

National Security Advisor Tahnoon Bin Zayed Al Nahyan met with Qatar’s Emir Sheikh Tamim bin Hamad Al Thani in Doha yesterday, where they discussed strengthening bilateral ties between the UAE and Qatar and issues of mutual interest, Wam reports.

CALENDAR

OCTOBER

27-30 October (Sunday-Wednesday): IEEE - International Conference on Image Processing, Adnec Centre, Abu Dhabi.

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

29 October (Tuesday): OneConnect Dubai 2024, the Marriott Resort Palm Jumeirah, Dubai.

29-31 October (Tuesday-Thursday): Sharjah International Conference in Biotechnology (SICBiotech), University of Sharjah.

29-31 October (Tuesday-Thursday): Healthcare Future Summit, Dubai World Trade Center.

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

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

30 October (Wednesday): Connected Construction Conference, Museum of the Future, Dubai.

30-31 October: Sixth edition of Binance Blockchain Week, Coca-Cola Arena, Dubai.

NOVEMBER

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

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

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

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

5-7 November (Tuesday-Thursday): 2024 EMEA Stakeholder Conference, Dubai.

5-7 November (Tuesday-Thursday): 10th edition of Gulfood Manufacturing, Dubai World Trade Center.

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

6-8 November (Friday-Sunday): UAE BioTech Symposium, Masdar City, Abu Dhabi.

6-17 November (Friday- Sunday) Sharjah International Book Fair, Expo Center Sharjah, Sharjah.

10 November (Sunday): American Boarding School Fair 2024, Grosvenor Hotel, Dubai Marina, Dubai.

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

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

13 November (Wednesday): Registration deadline for Dubai Chamber of Digital Economy’s App Olympics.

13-14 November (Wednesday-Thursday): Lease Conference Dubai 2024, Jumeirah Creekside Hotel, Dubai.

15 November (Friday): Tax amendments that exempt crypto and investments through fund managers from VAT to take effect.

18-19 November (Monday-Tuesday): Dubai Precious Metals Conference, JAFZA One Convention Center, Dubai

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

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

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

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

22-24 November (Friday-Sunday): Michelin Guide Food Festival, Emirates Palace Mandarin Oriental, Abu Dhabi.

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

23-24 November (Saturday-Sunday): Emirates Dubai Sail Grand Prix, SailGP Race Stadium.

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

26-28 November (Tuesday-Thursday) Global Media Congress 2024, Abu Dhabi National Exhibition Centre (ADNEC).

26-29 November (Tuesday-Friday): Big 5 Global, Dubai World Trade Centre.

26-27 November (Tuesday-Wednesday): Global Women’s Forum Dubai, Madinat Jumeirah, Dubai

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

28 November-1 December (Thursday-Sunday): Spartan World Championship, Al Wathba Desert, Abu Dhabi.

30 November (Saturday): Football Legends Cup, Al Maktoum Stadium Al Nasr Sports Club, Dubai.

Signposted to happen ahead of ADIPEC:

Changemakers Majlis, Abu Dhabi.

DECEMBER

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

4-5 December (Wednesday-Thursday): Sport Impact Summit, The Palm, Dubai.

4-6 December (Wednesday-Friday): Abu Dhabi Business Week, Adnec Center, Abu Dhabi.

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

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

13 December - 4 January (Friday-Saturday): Liwa International Festival, Al Dhafra, Abu Dhabi.

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

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

9-12 December (Monday-Thursday): World Conference on Desalination and Water Re-use 2024, Adnec Centre, Abu Dhabi.

9-12 December (Monday-Thursday): IEEE International Conference on Data Mining 2024, Adnec Centre, Abu Dhabi.

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

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

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

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

16-20 December (Monday-Friday): AIMS Conference 2024, Adnec Centre, Abu Dhabi.

6 December-12 January: Dubai Shopping Festival.

Signposted to happen sometime in December:

UAE-China Summit, Abu Dhabi.
Abu Dhabi Forum for Peace, Abu Dhabi.

JANUARY 2025

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

9-13 January (Thursday-Monday): International Renewable Energy Agency Youth Forum, Abu Dhabi.

11-13 January (Saturday-Monday): International Renewable Energy Agency Assembly, Abu Dhabi.

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

14-16 January (Tuesday- Thursday): The Light + Intelligent Building Middle East exhibition, Dubai.

19-24 January (Sunday-Friday): Coling 2025, Abu Dhabi.

20-22 January (Saturday-Monday): FESPA Middle East, Dubai World Trade Centre, Dubai.

FEBRUARY 2025

1-8 February (Saturday-Saturday): The Mubadala Abu Dhabi Open, Zayed Sports City's International Tennis Centre.

2-3 February (Sunday-Monday): L’Etape Dubai cycling race, Dubai.

3-6 February (Monday-Thursday): Medlab Middle East, Dubai World Trade Center.

16 February-1 March: Dubai Dutyfree Tennis Championships, Dubai Dutyfree Tennis Stadium in Al Garhoud.

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

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

Signposted to happen sometime in 1Q 2025:

The first eight fronds of the Palm Jebel Ali will be site-ready, allowing for the commencement of villa infrastructure and civil works.

APRIL 2025

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

7-10 April 2025 (Monday-Thursday) : EFG Hermes One on One conference, Dubai.

7-9 April (Monday-Wednesday): AIM Investment Summit, Abu Dhabi National Exhibition Center

14-16 April (Monday-Wednesday): Dubai Woodshow’s 21st Edition, Dubai World Trade Center

14-16 April (Monday-Wednesday): IPS congress, Dubai World Trade Center.

16-18 April (Wednesday-Friday): World Future Energy Summit,Abu Dhabi National Exhibition, Abu Dhabi.

28 April-1 May (Monday-Thursday): The Arabian Travel Market 2025, Dubai World Trade Center

Signposted to happen sometime in April:

Abu Dhabi Autonomous Racing League, Yas Marina Circuit in Abu Dhabi

MAY 2025

6-7 May (Tuesday-Wednesday): Global Ports Forum, Dubai.

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

SEPTEMBER 2025

8-10 September (Monday-Wednesday): DigiHealth exhibition, World Trade Center, Dubai.

24-25 September (Wednesday-Thursday): Mohammed Bin Rashid Leadership Forum, Mohammed Bin Rashid Center for Leadership Development, Dubai.

OCTOBER 2025

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

Signposted to happen sometime in 2025:

The Middle East Electric Vehicle Show, Expo Center Sharjah.
e& will complete Adnoc’s private 5G network.
Executive Committee Meeting (EXCOM 2025) conference of the World Smart Sustainable Cities Organisation (WeGO)
The International Civil Aviation Organization’s Global Implementation Support Symposium, Abu Dhabi.

Signposted to happen sometime in the fall of 2025:

2025 Games of the Future, Dubai.

Signposted to happen sometime in 2026:

The UAE to host the Arab Competition Forum
Dubai to host the Arab Actuarial Conference
United Nations Water Conference 2026, UAE

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