PureHealth shares soar in first day of trading on the ADX

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WHAT WE’RE TRACKING TODAY

PureHealth shares jump in ADX debut + Steer clear of Al Hisn Street

Good morning, ladies and gentlemen. The weekend is within reach, and we’re starting to see the tell-tale signs of that end-of-year slowdown, bringing us a calmer Thursday.

THE BIG STORY HERE AT HOME is PureHealth seeing its shares jump 84% on its first day of trading on the ADX, after reeling in massive investor demand during the bookbuilding process. We have the details in this morning’s news well, below.

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GDRFA crackdown on illegal immigration: The General Directorate of Residency and Foreigners Affairs in Dubai (GDRFA) has arrested an international criminal group for facilitating illicit immigration to some European countries, Gulf News reports. The GDRFA used surveillance methods and high-tech tracking to reveal the organization’s illegal activities and expose the entire network.

You can now seek out digitized settlement and mediation services through ADGM’s newly launched dispute resolution website, ODR@ADGM, according to a press release. People from around the world can resolve disputes through self-guided negotiations or mediation with accredited mediators. Streamlining the dispute resolution, and giving the end user control over the process.

PSA- Steer clear of Al Hisn street: Al Hisn Street towards the Abu Dhabi Corniche will be closed until Tuesday 6 February 2024, causing some traffic congestion, according to the Integrated Transport Centre.

DATA POINT- Investor Day at Dubai International Financial Centre (DIFC) Innovation Hub wrapped up with over USD 600 mn secured in funding, reports Wam. The event saw 500 investors, including Dubai Islamic Bank, Abu Dhabi Islamic Bank, and Emirates NBD. Nineteen fintech startups — of 700 applicants — graduated from the program’s last cohort, adding to its portfolio of 200 alum startups.

GOOD NEWS OF THE DAY

Scimitar-horned oryx removed from the Endangered list: The Environment Agency of Abu Dhabi (EAD)’s successful reintroduction of the scimitar-horned oryx in Chad has led to the reclassification of the species on the IUCN Red List, according to an Abu Dhabi Media Office statement. The oryx, previously categorized as Extinct in the Wild, is now categorized as Endangered. Since the initiative’s launch in 2014, EAD has reintroduced 285 oryx into Chad, increasing wild herd numbers to over 600 by 2023, surpassing the initial target of 500.

KUDOS

Abu Dhabi’s Department of Municipalities and Transport (DMT) and Mubadala are partnering up for an inclusivity and sustainability initiative. The first project under this initiative, the Beach Accessibility Project, introduces sea elevators and guided track access to the water through the SEATRAC system to ease beach access for individuals with mobility restrictions, Gulf Today reports. The project will be launched across six beaches in the emirate, including Corniche Sahil Beach, Corniche Public Beach, Corniche Family Beach, Al Bahr Public Beach, and Al Bateen Public Beach. The two entities will also develop 26 modern freshwater drinking fountains in parks across Abu Dhabi, to reduce reliance on single-use plastic bottles.

THE BIG STORY ABROAD-

No single story is dominating the global business press this morning. Reuters is out with an investigation looking at Tesla failures. The US press is obsessed with Agent Orange’s legal woes and how they could impact the 2024 race for the presidency.

Can AI own patent rights? The UK Supreme Court doesn’t think so, ruling against a bid put forward by a computer scientist to register patents for inventions created by his AI system, Reuters reported.

Seven European nations pledge to have emission-free electricity by 2035: Germany, France, the Netherlands, Austria, Belgium, Luxembourg, and non-EU member Switzerland have all pledged to cut CO2 from their power grids by 2035 — around five years earlier than the rest of the EU’s target. (Bloomberg | Reuters)

CIRCLE YOUR CALENDAR-

This Week: Chris Brown and Sean Kingston will be hitting Dubai’s Coca Cola Arena tomorrow.

On the weekend: The World Tennis league is coming to Abu Dhabi’s Etihad Arena from today through to Sunday. Men’s World No 3 Daniil Medvedev and Women’s World No 1 Iga Swiatek head up an impressive draw.

If tennis isn’t for you, the event will see performances from major music stars, including Neo, Akon, and 50 Cent.

Head to Ras Al Khaimah for the longest chain of beachfront fireworks this NYE: The emirate is set to break two Guinness World Records on New Year’s Eve with an eight-minute firework display featuring over 1k straight-line flying drones and a blanket of aquatic floating fireworks. The show will span 4.5 km of water from Al Marjan Island to Al Hamra Village and is complementary to the Soundfest music festival with international artists. You can RSVP here.

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

PureHealth shares rise 84% in IPO debut

PureHealth’s IPO came in strong on the first day of trading: Healthcare giant PureHealth saw its shares close up 84% at AED after opening the day at AED 3.26, Bloomberg reports. The heavily oversubscribed IPO raised some AED 1 bn for selling shareholders, and PureHealth has a market capitalization of AED 36.2 bn.

Investors ❤️ PureHealth: PureHealth’s drew in strong investor demand during its bookbuilding process, with over AED 265 bn in orders. The institutional portion of the offering was 49x oversubscribed, while the retail portion closed on Monday at a 483x oversubscription rate.

Advisors: FAB is the lead manager and lead receiving bank of the IPO, with WIO Bank and Al Maryah Community Bank acting as supplementary receiving banks. International Securities was appointed as the lead placement agent.

REMEMBER- PureHealth’s IPO is the second largest in the UAE this year, with Adnoc Gas coming in first place with its USD 50 bn IPO in March.

More details on Bayanat-Yahsat merger

Bayanat and Yahsat, meet Space42:Bayanat and Yahsat will name their new merged entity — which is set to become the first AI-powered space tech company in the MENA region — Space42, according to an ADX disclosure. The brand name was revealed a day after the two companies said that the merger, to be executed via a share-sw ap, will be valued at AED 15 bn (c. USD 4 bn) based on Monday’s closing share prices.

Proposed BoD: Post-merger, the entity will declare a new board of directors, with Mansoor Al Mansoori, chairman of the Abu Dhabi Department of Health, taking the reins as CEO, while Mubadala’s investment platforms CEO Dr. Bakheet Al Katheeri will assume the vice-chairman role and Karim Sabbagh will join as managing director.

Who will own what?G42, the owner and majority shareholder of Bayanat, will retain a 42% ownership stake in the new entity. Abu Dhabi state fund Mubadala, of which Yahsat is a subsidiary, will hold 29%. The International Holding Company (IHC), which has a 15% stake in Bayanat, will retain an 8% share in the new entity.

Once the merger is approved, it will “yield an AI-powered platform for transformative technologies to enable space-based services with significant impact on societies and economies,” Sabbagh said.

What’s next? While the companies await regulatory approval, Bayanat Managing Director Hasan Ahmed Alhosani and Yahsat CEO Ali Al Hashemi will continue to lead their respective companies. The merger is expected to come into effect in 2H 2024. Post-merger, Yahsat will delist from the ADX.

The Accountability Authority will oversee government entities for efficiency and cost-effectiveness

The newly-established UAE Accountability Authority is now replacing the Supreme Audit Institution, after President Sheikh Mohamed Al Nahyan issued Federal Decree Law No. (56) of 2023 to establish the authority, Wam reports.

Its role + functions:The new entity, which will report directly to the president, will oversee financial control, auditing, integrity, and transparency in the country, in a bid to uphold and enhance the integrity of public finances. The authority will be responsible for reviewing and auditing the federal government’s Consolidated Annual Report, auditing annual financial statements under its purview, and evaluating internal control systems. It also establishes key policies on integrity and anti-corruption, approved by the UAE president.

Overseeing government accountability: The authority is also tasked with ensuring the efficiency and cost-effectiveness of government entities’ financial and operational activities, while also ensuring their compliance with laws, legislation, regulations, policies, decisions, and principles of good governance.

The authority can investigate complaints related to fund misappropriation, conflicts of interest, and misuse of authority, aiming to protect whistleblowers and recover public funds. It can also audit government entities” audit documents, electronic systems, data and digital records.

ADIB extends AED 1 bn green loan to Aldar Properties

ADIB and Aldar Properties close AED 1 bn green loan: Abu Dhabi Islamic Bank (ADIB) has extended an AED 1 bn (c. USD 272.2 mn) green bilateral loan to developer Aldar Properties to support the decarbonization of the latter’s investments, according to a statement by the lender. The credit line — on which ADIB acted as the sole facility provider — brings Aldar’s cumulative ESG-aligned facilities to AED 4.8 bn. The real estate developer is aiming to reach net-zero by 2050.

SOUND SMART-Bilateral loans are forms of credit arranged between a borrower and a single lender in a bid to facilitate working capital for developers, and are usually associated with lower complexity and administration challenges for banks.

Where’s the money going? Aldar will channel the financing package toward expanding green building developments, as well as increasing renewable energy integration across its properties. The proceeds will also fund projects focussing on energy efficiency, sustainable water management, and pollution control across Aldar’s properties.

Both sides have been upping their climate finance game: Earlier this month, ADIB listed its first USD-denominated green sukuk, raising USD 500 mn in an issuance that was 5.2x oversubscribed. The sukuk issuance was part of the lender’s USD 5 bn Trust Certificate Issuance Programme. Meanwhile, Aldar secured AED 1 bn in ESG-linked loans from the Abu Dhabi Commercial Bank during COP28 to support its corporate sustainability targets. Abu Dhabi’s Aldar Investment Properties — a unit of Aldar Properties — raised USD 500 mn through its debut 10-year inaugural green sukuk back in May.

UAE's progress and challenges in sustainable development outlined in new report

The UAE secured an overall index score of 66.6 in the Arab Region SDG Index and Dashboards Report 2023, surpassing the regional score of 59.8. The country is among seven Arab nations that have made significant progress, achieving two-thirds of the 17 Sustainable Development Goals (SDGs) outlined in the report. The other six countries with an overall score of 65 or above (meaning they’ve achieved two-thirds of the SDGs): Tunisia (70.6), Morocco (70.3), Jordan (69.5), Algeria (69), Egypt (68.3) and Oman (66.7). These countries have less than 10 years remaining to accomplish the goals of the 2030 sustainable development agenda.

On the flip side of SDGs overall performance, three nations lag behind, each attaining less than half of the overall score: Comoros (47.2), Somalia (42.2), and Yemen (48.2). The index underscores significant variance, with a 28.4-point distinction between the top and bottom performers.

About the report: The report, which is a collaborative effort between the Mohammed bin Rashid School of Government and the United Nations Sustainable Development Solutions Network (SDSN), evaluates Arab countries’ progress on UN Sustainable Development Goals.

Hot or not SDGs: The UAE has achieved the SDGs related to No Poverty and Reduced Inequalities. Challenges persist in achieving the Sustainable Cities and Communities and Quality Education SDGs. Significant challenges remain in attaining the Good Health and Well-Being, Affordable Clean Energy, Decent Work and Economic Growth, Industry, Innovation, and Infrastructure, and Partnerships for the Goals SDGs. Major challenges persist for the Zero Hunger, Responsible Consumption and Production, Climate Action, Gender Equality, Clean Water and Sanitation, Life Below Water, Life on Land, and Peace, Justice, and Strong Institutions SDGs.

Trends: The UAE is on track to sustain achievements in the Poverty and Reduced Inequalities SDGs. Progress is being made in Industry, Innovation, and Infrastructure, as well as Partnerships for the Goals. It is stagnant in achieving the Decent Work and Economic Growth, Life on Land, Peace, Justice, and Strong Institutions SDGs. However, there is a decline in meeting the Climate Action SDG. The country is moderately improving in its bid to meet the remaining SDGs.

The sports fumble, bollywood blitz and regional concerns

This morning in UAE X-land: Sports dominated the X-sphere this morning, with people talking about #خالد عيسى (Khalid Eissa), the Al-Ain FC goalkeeper who conceded a goal against Sharjah’s Khor Fakkan, with some users calling it his worst season ever.

Other entertainment forms were trending, with much chatter over bollywood star Shah Rukh Khan who is in Dubai promoting his new film Dunki, with the hashtag #AskSRK.

Regional news: People are still using the hashtag #السودان to talk about the war in Sudan. #السيسي_شعب_مصر_اختاره was also trending-for third consecutive day-with Egypt’s Abdel Fattah El Sisi being elected for a third term as president.

UAE in the News on 21 December 2023

Abu Dhabi is getting lauded in the international press as the “Daily Davos,” as asset managers flock to the emirate from around the world in search of capital. Abu Dhabi’s sovereign wealth funds currently manage around USD 1.5 tn. (Bloomberg)

Egypt’s Ora developing USD 10 bn project in Ghantoot + Adnoc signs 15-year LNG agreement with ENN LNG + Block trading on Alpha Dhabi

REAL ESTATE-

More on new development from Egypt’s Ora: Ora Developers — owned by Egyptian b’naire Naguib Sawiris — has partnered with Abu Dhabi investment firm Q Holding for a USD 10 bn real estate project project in the Ghantoot area between Abu Dhabi and Dubai, Sawiris told Asharq Business. The 15 mn-sqm mega real estate project should be completed within the coming 10-15 years, he had previously said. The project is expected to make up to USD 15 bn in sales, he said.

ENERGY-

Adnoc signed a 15-year LNG agreement with Singapore’s ENN LNG, set to deliver a minimum mn 1 mmtpa of LNG by 2028, according to a press release. The majority of the LNG will be supplied from Adnoc’s Ruwais LNG plant, currently in the works in Al Ruwais Industrial City. The agreement is now awaiting the final investment decision on the project, and regulatory approvals, with final discussions on the sales contract also still ongoing.

Remember:Al Ruwais’ LNG plant is set to be the first LNG project in MENA powered by clean energy, making it one of the lowest carbon intensity LNG projects globally, according to Adnoc.

CAPITAL MARKETS-

Alpha Dubai sees AED 3.58 bn block transaction on ADX: Alpha Dubai Holding witnessed two substantial off-market transactions yesterday, with 139.1 mn shares changing hands for AED 3.58 bn at AED 25.89 per share, Wam reports. These transactions were executed off the books and therefore do not affect the conventional closing price, broader price index, or the highest and lowest prices.

The Dubai Financial Services Authority (DFSA) + the Hong Kong Monetary Authority (HKMA) have partnered up to explore ways to improve policies and regulations for climate finance in the Middle East and Asia, Wam reports. The partnership builds on the existing relationship between the Dubai International Financial Centre (DIFC) and HKMA and aims to promote cross-border collaboration for sustainable finance, supporting the net-zero transition. The DFSA and HKMA, plan to host a Joint Climate Finance Conference in Hong Kong in the fall of 2024.

Investcorp Capitalhas appointed emerging markets investment bank Arqaam Capital to serve as its advisor and market maker to facilitate and broker trading in Investcorp’s shares, according to an ADX disclosure. Under its role as Investcorp’s advisor, Arqaam will oversee the company’s earnings reporting and act as a liquidity provider.

ICYMI: Bahrain-based firm Investcorp successfully debuted on the ADX on 17 November, raising some AED 1.66 bn (USD 450 mn) with a market cap of AED 5.04 bn (USD 1.37 bn). The IPO was described as “lackluster” and “muted” by Bloomberg despite being at the top of the IPO price range and being upsized by 12%.

REGULATION-

The Abu Dhabi Chamber of Commerce launched arbitrateAD, an international arbitration center, according to a press release. ArbitrateAD will take over from the Abu Dhabi Commercial Conciliation and Arbitration Centre (ADCCAC) on 1 February 2024, keeping the latter’s governance structure and arbitration rules in place. Ongoing cases following ADCCAC rules will proceed with the existing team until resolved.

LOGISTICS-

China’s EHang Holdings lands in Abu Dhabi: Chinese aircraft company EHang inked an agreement with Wings Logistics Hub to join the Smart and Autonomous Vehicle Industries (SAVI) Cluster in Masdar City, according to a press release. The SAVI Cluster, led by the Abu Dhabi Department of Economic Development and the Abu Dhabi Investment Office, oversees the development and application of intelligent and eco-friendly air mobility in the UAE.

The details: Wings Logistics Hub will purchase up to 100 of EHang’s smart and autonomous eVTOLs vehicle technologies for passenger transportation, aerial logistics, and firefighting use in the UAE. The first set of deliveries is expected to commence in 1Q 2024.

Transworld is setting up a 50k sqm logistics center in Jafza: Dubai-based shipping and logistics firm Transworld and DP World ‘s Jebel Ali Free Zone (Jafza) inked an agreement on Wednesday to build a 50k sqm dry and temperature-controlled distribution center in Jafza, according to a press release (pdf). Construction for the warehouse is slated to begin by 2024 and wrap up within one year, with Jafza responsible for the development.

This isn’t its first center in Jafza: Transworld inaugurated a cold chain distribution center in Jafza back in June. The new center is forecasted to nearly double the company’s capacity in the region.

EDUCATION-

Ajman University is now a nonprofit institution, following a decree on Wednesday changing its organizational status, reports Wam. The newly state-owned entity will have the capacity to exercise law going forward, in addition to financial and administrative independence exempt from national policies.

Saudi Tadawul has risen 11% this year

Traders are feeling grumpy in Asia this morning. But first: A look at Tadawul, which is closing the books on a year that sees international institutional investors finally giving a second look to one of the world’s most compelling equities markets.

Saudi’s Tadawul is piquing the interest of fund managers from across the globe, with its benchmark index rallying 11% this year on the back of its economic diversification program, Bloomberg reports.

Diversification has helped change investor perceptions. Banks and petrochemical players are now joined on the bourse by listings from healthcare, retail, and power companies as well as (most recently) the broadcaster MBC. A string of IPOs since January 2022 has seen IPOs worth USD 11.5 bn go to market.

There’s also simply a lack of alternative EMs in which to invest: China’s economic slowdown and Russia’s exclusion from the MSCI index have played to the advantage of KSA, and Egypt belongs to domestic and retail investors right now thanks to a currency overhang.

One stumbling block to Tadawul’s growth: The market is still geared for local investors, with foreign ownership limits set at just under 50% for most stocks. Passive inflows alone would deliver USD 7.3 bn in additional inflows if those were scrapped, Arqaam Capital’s Elia Alchaar told Bloomberg.

SPEAKING OF IPOs- Low-cost airline Flynas has tapped Goldman Sachs, Morgan Stanley, and Saudi Fransi Capital for a potential IPO in Riyadh next year. (Bloomberg)

Asian shares are selling off this morning, with indexes across the region following New York into the red. A late selloff on Wall Street set the tone for this morning’s selling: The three big Wall Street benchmarks all posted yesterday their biggest daily losses since October. Shares in Europe look set to dip at the opening bell later today, putting them on track to trim the gains they’ve made in the past 10 days, futures suggest.

But: Futures suggest the Santa rally could resume later today in New York and Toronto.

ADX	9,482	-0.1% (YTD: -7.1%)
DFM	4,014	+0.4% (YTD: +20.3%)
Nasdaq Dubai UAE20	4,014	-0.1% (YTD: -6.0%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	5.1% o/n	5.4% 1 yr
TASI	11,703	-0.1% (YTD: +11.69%)
EGX30	24,838	-1.0% (YTD: +70.1%)
S&P 500	4,698	-1.5% (YTD: +22.4%)
FTSE 100	7,716	+1.0% (YTD: +3.5%)
Euro Stoxx 50	4,534	0.0% (YTD: +19.5%)
Brent crude	USD 79.70	+0.6%
Natural gas (Nymex)	USD 2.45	-1.8%
Gold	USD 2,048	-0.2%
BTC	USD 43,402	+2.3% (YTD: +163.8%)

THE CLOSING BELL-

The DFM rose 0.4% yesterday on turnover of AED 197.75 mn. The index is up 20.3% YTD.

In the green: International Financial Advisors (+3.0%), Commercial Bank of Dubai (+3.0%) and Emaar Properties (+2.1%).

In the red: Al Firdous Holdings (-6.7%), Amlak Finance (-2.6%) and Union Coop (-2.0%).

The ADX fell 0.1% yesterday on turnover of AED 1.30 bn. The index is down 7.1% YTD.

UAE, Austria discuss economic ties

Economy Minister Abdulla bin Touq Al Marri and his Austria counterpart Martin Kocher discussed trade, investment, tourism, and tech cooperation between the two countries at the UAE-Austria Joint Economic Committee meeting in Dubai on Tuesday, according to Wam. Al Marri also addressed the amendments made to the Commercial Companies law, which permits foreign nationals to 100% own onshore companies in the UAE, and the new residency regulation, highlighting the UAE’s efforts to grow and promote the private sector.

UAE to attend Austria’s investment conference: As Austria’s top trading partner in the Gulf, the Austrian delegation invited the UAE to participate in the “Invest in Austria” conference, to be held in Vienna in February 2024.

New Zealand + UAE foreign ministers discuss ways to strengthen ties: Foreign Affairs Minister Sheikh Abdullah bin Zayed Al Nahyan and his New Zealand counterpart Winston Peters discussed bolstering bilateral ties across multiple sectors during a phone call, Wam reports. The two leaders explored opportunities for cooperation in development, renewable energy, and food security and shared their views on the regional and international landscape.

The Foreign Affairs Ministry extended its condolences to the government of China and the Chinese people in the aftermath of the recent earthquake in Gansu Province. In the statement, the ministry also expressed wishes for a swift recovery for those who were injured in the quake.

We sent more aid to Ukraine: A plane carrying 1,640 household power generators with capacities up to 8 KW was dispatched from the UAE, bound for Ukraine, reports WAM. The aid was divided into two shipments, the first of which was sent to Warsaw, Poland, on Tuesday. The second batch of generators is scheduled for dispatch in January, with additional plans being coordinated to deliver aid for Ukraine’s health and education sectors.

The numbers so far- Our aid to Ukraine has totalled over USD 100 mn since the start of the war. Nearly 1k tons of UAE-provided relief supplies have been shipped to Ukraine’s neighbors (Poland, Romania, Moldova, and Bulgaria) for the benefit of Ukrainian refugees.

CALENDAR

DECEMBER

8-31 December: Abu Dhabi MOTN Entertainment Festival

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

21-23 December (Thursday-Saturday): Abu Dhabi World Tennis League.

31 December (Sunday): RAK NYE Festival, Al Marjan Island.

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.

27-28 February (Tuesday-Wednesday): Dubai Association Centre Conference, Dubai World Trade Centre.

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

28-29 February (Wednesday-Thursday): UAE delegation attends ‘Invest in Austria’ conference, Vienna.

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.

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

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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