UAE economy projected to expand 5-6% in 2025 -Al Marri

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WHAT WE’RE TRACKING TODAY

THIS MORNING: NMDC to IPO logistics unit? + ADX, CBUAE agree to settle trades in AED

Good morning, friends. Earnings season is still keeping us busy, with earnings reports from Adnoc Logistics & Services, Aramex, and more to dig into. Plus: Economy Minister Abdullah bin Touq Al Marri forecasts 5-6% growth for the UAE economy this year, and e& PPF acquired Serba Broadband in its Balkan expansion.

WEATHER- We’re in for a cloudy and potentially rainy day: The National Center of Meteorology forecasts (pdf) cloudy skies and possible light rainfall today. Temperatures in Dubai are still expected to be warm, hitting 29°C during the day, with an overnight low of 21°C, while Abu Dhabi is expected to see highs of 24°C and an overnight low of 21°C.

WATCH THIS SPACE-
#1- NMDC plans to IPO its logistics unit: NMDC plans to publicly list its technical and logistics services unit (NMDC LTS) once it has matured as part of its broader growth strategy, CEO Yasser Zaghloul told Sky News Arabia Business in an interview (watch, runtime: 05:09). The move follows the successful IPO of its subsidiary, NMDC Energy, last September, which raised AED 3.2 bn.

REMEMBER- NMDC launched NMDC LTS focusing on marine logistics and technical operations in December 2024.

#2- ADX, CBUAE agree to settle trades in AED: The cash-settlement for all ADX-listed financial instruments — think stocks, bonds, and ETFs — will now be processed in AED through the UAE Central Bank’s network, under a freshly inked agreement (pdf) between the exchange and the central bank. Margin call and collateral transactions will also be automated through a direct debit mechanism.

The rationale: Traditionally, cash settlements are handled through third-party banks or clearinghouses. By bringing this process under the Central Bank’s umbrella, the aim is to streamline trade execution, minimize settlement risks and delays, and accelerate transaction processing.

#3- UAE set to benefit from India’s surging LNG demand: The UAE, which has been investing in new liquefaction projects and energy infrastructure, is well-positioned to gain from India's soaring demand for liquefied natural gas (LNG), as the world’s fourth-largest LNG buyer is set to more than double its imports to 64 bn cubic meters (bcm) annually by 2030, up from 36 bcm in 2023, Bloomberg reports, citing an International Energy Agency report (pdf).

It’s happening already: Two of India’s largest state-owned oil companies, Indian Oil and Bharat Petroleum, will sign major LNG purchase agreements with Adnoc this week, Bloomberg reports separately. Indian Oil will buy up to 1.2 mn tons of LNG annually in a 14-year agreement worth over USD 7 bn starting in 2026. The two companies had inked the LNG supply agreement back in 2023. Meanwhile, Bharat Petroleum will receive 2.5 mn tons over five years starting April, with an option to extend for another five years.

For Adnoc, these agreements secure long-term buyers for its LNG exports, following similar agreements with companies in Germany and Malaysia. The UAE is competing with Qatar to attract buyers by offering lower prices and more flexible terms, according to traders who spoke to Bloomberg.

#4- India’s Adia-backed fund eyes private credit: India’s National Investment and Infrastructure Fund, backed by the Indian government and the Abu Dhabi Investment Authority (ADIA), is looking to raise up to USD 2 bn in a private credit fund, Bloomberg reports, citing statements from CEO Sanjiv Aggarwal at an event in Mumbai. The fund aims to tap into increasing investor interest in alternative assets beyond traditional equity and fixed income.

REMEMBER- Adia has been expanding investments in private credit, with a USD 200 mn investment in an Australian real estate private credit company Qualitas Diversified Credit Investments last June, a USD 831 mn commitment to the UK’s Cheyne Capital, and USD 1 bn for Barclays and AGL Credit Management’s joint fund.

DATA POINTS-

#1-The UAE ranked first in the Middle East and North Africa and 23rd globally in Transparency International’s 2024 Corruption Perceptions Index, maintaining a score of 68 from 2023. The country outperformed Austria, France, and the US on the index, which evaluates 180 nations based on perceived public sector corruption. Meanwhile, the report highlighted persistently high global corruption levels, with over two-thirds of countries scoring below 50 and the global average stagnating at 43.

#2- IFC has deployed USD 2.3 bn to UAE firms in 2024 and eyes global emirati investments: The International Financial Corporation (IFC) provided USD 2.3 bn in financing to UAE-headquartered companies in 2024, Managing Director Makhtar Diop told state news agency Wam on the sidelines of the World Governments Summit. The IFC’s total investments in emerging markets during the 2024 fiscal year, which ended in June, amounted to USD 56 bn.

The focus is on renewable energy: Diop highlighted the UAE as one of Africa’s largest renewable energy investors and said the IFC is prioritizing collaboration with Emirati companies to scale projects in Europe, Central Asia, and Latin America. The organization is deploying financial tools and guarantees to facilitate UAE investments in these regions.

More coming? Abu Dhabi sovereign wealth fund ADQ inked a MoU with the IFC to collaborate on investments in agriculture, energy, logistics, transport, and healthcare across emerging markets, according to a press release.

PSAs-
#1- The UAE will be granting 20 sustainability innovators and thought leaders the 10-year Blue Residency Visa, as part of the first phase of the Blue Residency program, state news agency Wam reports. The initiative, first approved in May 2024 by Dubai Ruler Mohammed bin Rashid Al Maktoum, began accepting applications on 6 February.

Who is eligible? The Blue Visa is designed for members of international organizations, environmental NGOs, award-winning sustainability advocates, researchers, and corporate leaders who have made significant contributions to environmental work.

Where to apply: Eligible individuals can apply through the Federal Authority for Identity, Citizenship, Customs, and Ports Security’s smart platform or via nomination by competent UAE authorities.

#2- New parking fees for parking near events take effect next Monday, with an AED 25 per hour rate applying during events near designated zones, Parkin, Dubai’s public parking operator, said in a post on X. The company identified Dubai World Trade Centre as a Grand Event Zone and advised visitors to use public transport when attending major events.

We knew this was coming: Parkin said last month that it would roll out variable parking tariffs, including for parking near event zones. The parking operator is also set to introduce new peak-hour fees of AED 6 per hour for premium spaces and AED 4 per hour for other public spaces from 8-10 am and 4-8 pm in March.

HAPPENING TODAY-

#1- The World Governments Summit 2025 is on its final day in Dubai. Country leaders, international organization heads and business players are meeting to discuss six key themes: effective governance and accountability, financing the future and the global economy, climate crisis mitigation and resilient cities, human-centric futures and capacity building, global health transformations, and emerging frontiers and the future.

#2- The Sharjah Consultative Council will hold its ninth session today to discuss Sharjah Health Authority’s policy, Wam reports.

HAPPENING THIS WEEK-

#1-US State Secretary Marco Rubio is set to make a stop in the UAE as part of a wider Middle East tour starting Saturday, according to a statement. Rubio will also make stops in Israel and Saudi Arabia, with the focus of the tour being advancing the second phase of the Gaza ceasefire discussing Iran and Hamas’ US hostages.

#2 Dubai Rising: Building Tomorrow’s Global Business Capital will take place tomorrow, 14 February at the Museum of the Future. The event — which is a collaboration between the Dubai Media Office and Georgetown University’s McDonough School of Business — features discussions on Dubai's vision for global commerce and economic growth with officials, policymakers, business leaders, media, and scholars from the US and UAE.

THE BIG STORY ABROAD-

The war in Ukraine is in the spotlight this morning, as an unexpected rapprochement between the US and Russia opens the door for peace talks.

Russo-Ukranian talks to kick off: US President Trump agreed — in his first publicly announced phone call with Russian President Vladimir Putin — to start negotiations aimed at ending the war “immediately” and reaching a long-term settlement. The two presidents are set to meet later in Riyadh to iron out the details, Trump added.

Blindsiding allies: The announcement came hours after US Defense Secretary Pete Hagseth told the Nato that Ukraine’s aims to join the alliance are “unrealistic,” conceding that the country will probably have to accept losing territory.

Ever the businessman: The US also presented Ukraine’s president Volodymyr Zelenskiy with an economic partnership agreement, during a visit by Treasury Secretary Scott Bessent to Kyiv. Zelenskiy said the talks will include “Ukraine’s potential in natural resources,” a particular interest for Trump, who said earlier he would like to tap into Kyiv’s critical minerals as well as open its markets to US energy exports in exchange for military and economic support. (NY Times | Bloomberg | FT | Reuters | CNN | Semafor)

Tariffs push not slowing down: Trump could sign his reciprocal tariffs today, ahead of India’s Prime Minister Nerandra Modi landing in Washington, where the two are scheduled to discuss trade concessions to spare India potential tariffs. (CNBC)

Eyes are still on the region: Tensions are high closer to home, as Egypt’s president Abdel Fattah El Sisi has reportedly opted to stay away from the White House as long as the agenda includes talks on displacing Gazans. Meanwhile, Israel is reportedly pushing to retain a number of positions in Lebanon after the US shot down a request to keep most troops in the country in violation of the ceasefire agreement with Hezbollah. (Bloomberg | Reuters)

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UAE economy to expand 5-6% this year -Al Marri

UAE’s government pencils in 5-6% growth in 2025: Economy Minister Abdulla Bin Touq Al Marri sees the UAE’s economy growing by around 5-6% in 2025, up from 4% in 2024, he told state news agency Wam on the sidelines of the World Governments Summit in Dubai. Growth will be driven by strong performances in sectors that include “technology, renewable energy, trade, financial services, and infrastructure,” he added.

Not everyone is as optimistic about the UAE’s growth this year: Fitch Solutions’ research unit BMI recently revised its forecast for the UAE’s economy this year to 5.1%, slightly down from 5.2% predicted in October, while the International Monetary Fund and the World Bank revised their forecasts for the UAE’s economy this year to 4%. Meanwhile, the Central Bank of the UAE (CBUAE) penciled in a higher growth estimate of 4.5% in 2025 in December.

Meanwhile, the World Bank sees GCC economies growing 3.4% in 2025, and by 4.1% in 2026, on the back of significant investments in non-oil sectors, the bank’s Vice President for the Middle East and North Africa Ousmane Dione told Wam on the sidelines of the summit. Oil-producing nations in the MENA region will see slowed growth during the year as a result of lowering their oil production, while oil importers will see further growth due to more diversified economies.

This is up slightly from its previous forecast of 3.3% growth for the Gulf region in its latest Global Economic Prospects report.

e& expands further in Europe with acquisition of Serbia Broadband

e& PPF to acquire Serbia Broadband: e& PPF Telecom — a JV between e& and Prague-based PPF Group — signed a binding agreement to fully acquire Serbia-based cable television and broadband internet service provider Serbia Broadband (SBB) from Southeast European telecoms player United Group, it said in a press release (pdf). The debt-free, cash-free transaction is valued at EUR 825 mn, and will be financed through debt. The transaction is pending regulatory approvals, and is set to be completed in 1H 2025, according to a United Group statement.

e& isn’t new to Europe: Emirates Telecommunications Group (e&) acquired a controlling stake (50% + 1 share) in PPF Telecom Group in October to consolidate its assets and operations in Central and Eastern Europe under a new holding company. The latest move comes as part of an expansion strategy aiming to diversify its revenues and up exposure to stable-currency markets. e&PFF owns several brands including Yettel Bulgaria, Yettel Hungary, Yettel Serbia, and O2 Slovakia, in addition to Cetin’s infrastructure operations, which currently serve over 10 mn customers with combined revenues of EUR 2 bn in 2023.

The pitch: The takeover will also trigger a merger between SBB and e&PFF’s Serbian mobile subsidiary Yettel, thereby consolidating the state-backed telco’s Serbian assets under a single entity. The merged company will enable the delivery of mobile, fixed broadband, and pay-tv services, boosting its offerings in the high-growth market.

This is a bolt-on transaction: This potential acquisition is expected to ramp up the existing operations of e&PPF, product offering, and market position since it is a strategic fit that complements the buyer’s business. The transaction is expected to be easy to execute since both companies operate in the same industry, and likely share similar tech, systems, and processes, eliminating the need for a major restructuring.

About SBB: The internet provider serves 700k active customers. The company generated EUR 244.1 mn in revenue in 2023 — an incremental 12% to e& PPF Telecom’s revenue.

Emaar Development joins MSCI Emerging Markets Index + NMDC Energy, ADNH added to small cap index

MSCI latest index reshuffle brought notable changes to MENA equities, with the UAE, Saudi Arabia, and Morocco seeing new inclusions in major indices, according to the MSCI Equity Indexes February 2025 Index Review (pdf). The new additions will take effect at market close on Friday, 28 February. Overall, MENA equities maintained their positions with no removals from MSCI’s index categories this month.

Favorable sectors: Additions from our part of the world seem to be heavily weighted towards real estate, petrochemicals, telecom and finance aligning with the region’s broader economic diversification plans.

Emaar Development joins the big league: DFM-listed Emaar Development was added to the MSCI Emerging Markets Index, as one of the index’s three largest additions by market cap this month, reinforcing the UAE’s growing market depth and liquidity. Additionally, two Emirati companies joined the MSCI ACWI Small Cap Index (pdf), namely ADX-listed NMDC Energy and Abu Dhabi National Hotels.

Why it matters: Inclusion in MSCI indices can significantly ramp up the companies’ market presence, liquidity, and investor attractiveness. It’s a sign of credibility, financial health, and alignment with global investment standards. It also follows a rigorous selection process based on market classification, size, liquidity and foreign accessibility. To be added, a company must first be listed in an MSCI-designated Emerging Market country, meet minimum market cap thresholds, and boast strong liquidity (with an annualized traded value ratio of at least 15%); without having major restrictions on foreign ownership.

An easier entry lane? The MSCI Small Cap Index includes companies that fall below MSCI’s large and mid-cap size classifications but still meet size, liquidity, and accessibility requirements, offering exposure to smaller yet investable stocks. Meanwhile, the MSCI Frontier Markets Index is designed for companies in smaller, developing economies like Morocco, where inclusion criteria are less stringent than emerging markets

DFSA warns of gaps in targeted financial sanctions controls in ins.

DFSA flags compliance gaps in ins. sector: The Dubai Financial Services Authority (DFSA) identified compliance gaps in targeted financial sanctions (TFS) across its ins. sector in a new Thematic Review (pdf), which assessed all DFSA-regulated firms and ran a more in-depth analysis of 19 firms in 2023. This is despite overall positive findings indicating a strong understanding of sanctions risk, with adequate policies and procedures in place across ins. firms to cover risk.

One major issue facing ins. firms: High exposure to sanctioned jurisdictions. The review found that while 95% of firms rated their financial crime risk as low, 53% reported dealings with clients in Financial Action Task Force (FATF) grey-listed jurisdictions.

Audits in the industry are insufficient, says the DFSA: Despite 98% of firms being registered with the Executive Office for Control and Non-Proliferation (EOCN), the UAE’s sanctions authority, only 28% of firms reported undergoing an audit of their AML policies, procedures, systems, and controls during the assessment period, and 25% had never been audited for their TFS systems and controls.

Customer risk assessments were flagged as needing improvement, with the DFSA highlighting shortcomings when it came to clarifying the extent of underlying risk when working with entities in FATF grey-listed jurisdictions, as well as a lack of in-depth assessment of other entities’ AML/CFT compliance.

Many firms also lacked structured governance, reporting sanctions issues only when exceptions arose rather than through regular tracking and analysis. While AML training was widely implemented — 93% of firms provided annual training — the DFSA noted many programs lacked UAE-specific sanctions guidance and industry-relevant case studies.

Measures to be taken: The DFSA has urged firms to strengthen their screening protocols and risk assessments, integrating clearer jurisdictional risk factors and ensuring timely reporting of sanctions-related alerts. It warned that relying solely on contract clauses to cancel agreements with sanctioned clients is a reactive approach—firms must proactively enhance screening processes to mitigate risks upfront.

Behind the assessment: The DFSA is tightening oversight on ins. firms due to a rise in providers and heightened risk exposure in certain segments. Total premiums reached approximately USD 2.6 mn in 2023, with 11% attributed to marine, aviation, and transport ins. — sectors that often carry higher risk, particularly in terms of financial sanctions and proliferation financing exposure, DFSA said. Marine ins. (hull and cargo), for instance, presents greater risk factors compared to lower-risk segments such as sickness (37%), fire and other property damage (33%), and liability (14%).

Clamping down on AML and counter-terrorist financing remains a top priority for the DFSA. The UAE was recently removed from FATF’s greylist after being listed in 2022 due to money laundering and terrorism financing concerns. The DFSA took eight enforcement actions and levied fines exceeding USD 2.5 mn throughout the year in 2024 as of November, targeting unauthorized financial activities, investor deception, AML non-compliance, and obstruction of investigations.

Tabby raises USD 160 mn in Series E round, valuation doubles to USD 3.3 bn

Tabby becomes MENA's most valuable fintech: Homegrown — and now Riyadh-based — BNPL unicorn Tabby raised USD 160 mn in a Series E round, boosting its valuation to USD 3.3 bn — more than double its previous valuation of USD 1.5 bn — according to a press release. The round was led by Blue Pool Capital and Hassana Investment, with additional backing from STV and Wellington Management. The latest funding round makes Tabby the highest valued fintech in the region, the statement said.

Use of proceeds: The fresh funds will be used to accelerate Tabby’s rollout of products by expanding their financial services, including digital spending accounts, payments, cards, and money management tools, solidifying the company’s financial position ahead of a planned IPO.

REMEMBER- Tabby reportedly tapped HSBC Holdings, JPMorgan Chase, and Morgan Stanley earlier this month to advise on a potential IPO — first announced in September — targeting a 2025-2026 window. The size of the offer and the timeframe are yet to be determined.

What’s Tabby been up to? Since its last funding round in October 2023, Tabby has nearly doubled its annualized transaction volume to over USD 10 bn, the statement reads. The company acquired local digital wallet Tweeq in September, and integrated UAE-based travel tech player Tumodo’s services into its platform. As of 2025, Tabby has more than 15 mn registered users and over 40k sellers.

Tabby has been dominating funding on the MENA stage: Tabby and fellow fintech Tamara dominated MENA’s venture debt-backed lending in 2023, securing USD 600 mn of the USD 601 mn raised by fintech players, which accounted for 79% of MENA's total venture debt-backed lending that year. Tabby's services are currently available in the UAE, Saudi Arabia and Kuwait.

Peak earnings season

ADNOC L&S-

Abu Dhabi National Oil Company Logistics and Services (Adnoc L&S) recorded a 9% y-o-y increase in its net income to AED 660 (USD 180 mn) in 4Q 2024, while revenue grew 6% y-o-y to AED 3.2 bn (USD 881 mn) during the same period, according to the firm’s earnings relea se (pdf).

On a yearly basis, Adnoc L&S saw its bottom line grow 22% y-o-y to AED 2.8 bn (c. USD 756 mn) in FY 2024. The firm’s topline grew 29% y-o-y to AED 13 bn (c. USD 3.6 bn), driven by strong performance across all business segments. The firm saw high charter rates for dry bulk and tankers in 1H 2024, boosting its shipping revenues, as well as expansion in the GCC due to the addition of four new VLCC tankers.

Looking ahead: The first full financial year following the acquisition of Navig8 is expected to see a minimum 20% boost to Adnoc L&S’ earnings per share in 2025, according to the company’s earnings release. The acquisition is also expected to save Adnoc L&S some USD 100 mn per year in technical management costs and costs associated with bunkering operations. The move adds some 32 tankers to the firm’s fleet, expanding its service portfolio to include commercial pooling and bunkering. The company also has a major shipbuilding order book, including 10 new LNG carriers, nine very large ethane carriers, as well as four very large ammonia carriers, the company said.

ADNH CATERING-

ADNH Catering’s 4Q 2024 pro forma net income rose by 20% y-o-y to AED 44 mn, according to the company’s earnings release (pdf). Pro forma revenue climbed by 12% y-o-y to AED 443 mn during the quarter, driven by new contracts, client retention, and margin improvements.

For FY 2024, pro forma net income reached AED 153.6 mn, up 1% y-o-y when excluding the impact of exiting unprofitable contracts and changes to the revenue recognition model. On an unadjusted basis, net income declined 25.6% y-o-y. Pro forma revenue stood at AED 1.7 bn, reflecting a 12.9% y-o-y increase when adjusted for these factors, but a 2.6% decline otherwise.

Dividends: The board approved a dividend of AED 60 mn for 2024, set for distribution in April pending shareholder approval. It also plans to distribute AED 180 mn in 2025 across two installments, in October 2025 and April 2026.

Looking ahead, ADNH Catering plans to inject SAR 500 mn into its Saudi Arabian joint venture over the next three to five years. The company also aims to expand its coffee brand, Husk, in the UAE, with 25 new outlets launching in 1H 2025 and another 25 in 2H 2025.

PHOENIX GROUP-

PhoenixGroup reported a 19.4% y-o-y drop in net income attributable to shareholders to USD 167.4 mn in 2024 on the back of several one-off transactions in 4Q 2024, including its exit from the CIS region as part of a broader strategy to streamline operations and focus on more strategically aligned markets, according to its preliminary financials (pdf). Excluding these one-offs, net income stood at USD 193 mn, down 7.2% y-o-y. The bitcoin mining company saw its revenues fall 28.6% y-o-y to USD 205.7 mn.

BTC was a bright spot: Phoenix’s BTC mining revenue surged 236% y-o-y, climbing to USD 107 mn from USD 32 mn the previous year on the back of a substantial improvement in gross margins as BTC saw an average 37% increase in price during the year.

ICYMI- Phoenix doubled down on BTC mining expansion in 2024, launching new facilities in Canada, the US, and Oman, adding a total of 160 MW to its capacity. The ADX-listed crypto miner landed an 80 MW power purchase agreement for a new site in Ethiopia, and launched a 50 MW facility in the US state of North Dakota, which is set to contribute 2.7 EH to the company’s global hash rate once fully operational. Phoenix and cryptocurrency giant Tether also plan to launch an AED-pegged stablecoin fully backed by liquid UAE-based reserves and accessible globally, pending regulatory review and approval.

ARAMEX-

UAE-based freight forwarding and logistics outfit Aramex saw its net income drop 14% y-o-y to AED 65.7 mn in 4Q 2024, according to an earnings release (pdf). The company’s revenues rose 11% y-o-y in the same period to AED 1.7 bn.

Overall growth in FY 2024: The company's net income increased 10% y-o-y to AED 141.8 mn in FY 2024, while its revenues rose 11% y-o-y in the same period to AED 6.3 bn, attributable to robust performance across all product lines driven by increased shipping volumes and market share gains.

Aramex’s strongest markets: The company’s y-o-y revenues grew in the double digits in the GCC, Turkey, and MENA, and its Oceania operations’ revenue also grew by 50% y-o-y.

REMEMBER: Aramex is weighing an acquisition bid by ADQ subsidiary Q Logistics Holding, which, if accepted, will see the bidder acquiring 100% of the freight services firm. Aramex has until Friday, 14 March to respond, with the potential transaction expected to conclude in 3Q 2025. The acquisition would value Aramex at AED 4.39 bn, according to our calculations.

NMDC GROUP-

Abu Dhabi-based National Marine Dredging Company (NMDC) saw its net income climb 43% y-o-y to AED 916 mn in 4Q 2024, according to an earnings release (pdf) based on preliminary financial statements published on ADX. Revenues rose 37% y-o-y to AED 7.7 bn for the same period.

Across-the-board growth in FY 2024: The company’s net income rose 44% y-o-y to AED 3.1 bn in FY 2024, with revenues rising 57% y-o-y to AED 26.3 bn for the same period. The company expanded its global presence both horizontally and vertically, according to a press release. It inked agreements for infrastructure projects with Ta’ziz, whilst its energy subsidiary NMDC Energy, whose IPO on the ADX last September raised AED 3.22 bn, was awarded contracts from Adnoc and Modon Holding. Going forward, NMDC Energy said it plans to scale up its existing operations and expand into new global markets, while in December its new logistics unit NMDC LTS was considering new acquisitions.

SOBHA REALTY-

Sobha’s bottom line dips: Dubai-based developer Sobha Realty ’s parent company PNC Investments (PNCI) saw its bottom line fall 37.8% in FY 2024 to AED 1.9 bn, according to its consolidated financial statements (pdf).

Its revenues saw an uptick of 36.7% to AED 8.9 bn. However, direct costs rose to AED 5.4 bn from AED 3.8 bn and financing costs increased to AED 227.8 mn, up from AED 82.6 mn. The company is eyeing eight to 10 new Emirati projects this year, as well as expansion in the US and Australia.

EMSTEEL-

Building materials manufacturer Emsteel’s net income fell 34.8% y-o-y to AED 392.4 mn in 2024, according to the company’s preliminary financials (pdf). The company’s earnings were partially supported by the reversal of a covid-era impairment, which had a net positive impact of AED 189 mn. This came despite an increase in low-priced Chinese steel exports, which Emsteel says may have “directly or indirectly” impacted the market.

Revenue fell 6.3% y-o-y to AED 8.3 bn during the period, pressured by volatile steel prices, intensified competition, and shifting demand trends amid economic uncertainties in key markets.

DUBAI REFRESHMENT COMPANY-

Dubai Refreshment’s net income fell 62.5% y-o-y to AED 135.8 mn in 2024, according to its financials (pdf). The company saw its revenues inch up 1.9% y-o-y to AED 818 mn during the year.

Dividends:The company’s board approved a cash dividend AED 90 mn for 2024, equivalent to 100% of paid-up capital, according to a DFM disclosure (pdf).

AMERICANA RESTAURANTS-

Tadawul and ADX-listed Americana Restaurants’ net income attributable to shareholders fell 38.8% y-o-y in 2024 to USD 158.8 mn, it said in an earnings release (pdf). The decline was attributed to new store openings, and corporate tax taking effect in the UAE. Revenues were also down 9% y-o-y to USD 2.2 bn over the same period, driven by a slowdown in consumer demand amid regional tensions, and unfavorable foreign exchange rates, the release said.

In 4Q 2024, net income grew 26.3% y-o-y, while revenues grew 14.1% y-o-y. The earnings release did not disclose exact numbers for net income or revenues, though Argaam reported net income in 4Q at SAR 155.2 (USD 41.4 mn), and revenues at SAR 2.2 bn (USD 600 mn).

ALSO- The company is distributing USD 127 mn in dividends to its shareholders at USD 0.02 per unit for FY 2024. The eligibility and distribution dates will be announced later, pending shareholder approval.

NATIONAL CORPORATION FOR TOURISM AND HOTELS-

The National Corporation for Tourism and Hotels (NCTH) reported a net income rise of 8.7% y-o-y to AED 74 mn in 2024, according to its preliminary financials (pdf). NCTH saw its revenue increase 4.4% y-o-y to AED 698.6 mn.

REMEMBER- Alpha Dhabi Holding increased its stake in NCTH last month to 73.73%. Additionally, NCTH recently raised its capital from AED 899 mn to AED 2.2 bn by issuing 1.3 bn new shares, all allocated to Alpha Dhabi Hospitality Holding.

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EDITOR'S NOTE- This story was amended on Thursday, 13 February to correct Americana Restaurants' 4Q 2024 earnings as reported by Argaam. A previous version of this story incorrectly stated that Argaam put net income in 4Q at SAR 122.9 and revenues at SAR 1.94 bn.

We also amended the currency of Phoenix's net income and revenues to USD, from AED previously.

The UAE’s AI ambitions + sugar production are getting attention

The UAE’s role in the AI boom gets the spotlight: The UAE is positioning itself as a leader in AI infrastructure, with long-term investments designed to secure an edge over the next five to ten years, AI Minister Omar Al Olama told CNBC (watch, runtime: 4:50). Al Olama highlighted the UAE’s highly valuable logistics data as a key asset in building advanced AI models. The country’s bns of USD worth of investments are going towards building “big AI infrastructure” in the UAE, Bain Capital advisor Stephen Pagliuca told Bloomberg (watch, runtime: 6:54), adding that AI will eventually get integrated into every industry.

Meanwhile, Energy Minister Suhail Al Mazrouei shrugged off the impact of China’s DeepSeek on demand for nuclear energy, Reuters reports.

ALSO- The UAE’s sugar refineries are operating below capacity, as is the case with sugar facilities across the Middle East, Bloomberg reports, citing the Managing Director of Al Khaleej Sugar Jamal Al Ghurair. The lower capacity has been attributed to a decrease in profitability due to greater production by Thailand, Europe, and India and an increase in new refineries in the region, which has led to overcapacity. Al Khaleej operated at 70% capacity in 2024, producing 1.6 mn tons of sugar, but output may decline this year, Al Ghurair said.

DIFC and Keyper roll out API-powered real estate data platform

REAL ESTATE-

The Dubai International Financial Center launched a new API-based real estate data solution, with proptech company Keyper becoming the first user and launching a DIFC-focused real estate data platform, according to a Dubai Media Office statement. The platform will offer real-time insights into property values, rental yields, and transaction histories — with plans to introduce predictive analytics and financial modeling tools — in a bid to boost transparency and data accessibility. It aims to support Dubai’s broader push for digitalization and investment growth, focusing on the property sector.

TRANSPORT-

Volar Air to manufacture electric aircraft in Abu Dhabi: Hong Kong-based air mobility firm Volar Air plans to produce its RX4E fixed-wing electric aircraft in Abu Dhabi with the aim of supplying the UAE market and exporting to the Middle East and North Africa, The National quotes Volar Air Chairman Hooi Hing Lee as saying. The RX4E is an electric short take-off and landing (eSTOL) aircraft that can be used for eco-tourism, pilot training, medical evacuations, and border surveillance.With a 300 km range, the aircraft are intended for domestic routes.

The company partnered with Abu Dhabi-based Inovartic Investment to set up a UAE production facility, with operations scheduled to launch in early 2026. Volar Air will initially assemble 30 aircraft imported from China and scale up to 200 units over five years at a facility likely in Khalifa Economic Zones Abu Dhabi. The company is working toward regulatory approval from the UAE’s General Civil Aviation Authority, which it expects to receive in 4Q 2025.

AGRICULTURE-

PCFC and Cordiant Capital collaborate to boost Dubai’s food supply chain: The Ports, Customs, and Freezone Corporation (PCFC) inked an MoU with Canadian investment firm Cordiant Capital at the World Governments Summit to enhance Dubai’s agricultural value chains and strengthen its food security initiatives, state news agency Wam reports.

The details: Under the partnership, PCFC and Cordiant Capital will invest in infrastructure projects that improve food distribution networks, reduce waste, and ensure efficient farm-to-table supply chains. The agreement will focus on developing advanced cold-chain logistics, optimizing trade corridors, and deploying supply chain technologies such as IoT sensors and AI-powered analytics.

ICYMI- The Dubai Government and the Food and Agriculture Organization (FAO) inked an agreement to improve food safety and reduce food waste and loss at the summit on Tuesday.

EDUCATION-

Abu Dhabi to get first Harrow school: Taaleem signed a Musataha land lease agreement with Abu Dhabi’s Education and Knowledge Department to launch the first Harrow International School in the emirate, it said in a disclosure (pdf) to the DFM. The Harrow International School Abu Dhabi will be established over a 70.4k sqm plot of land on Saadiyat Island, and will offer a British-style curriculum on the campus. Enrollment for the new school, operating under the brand of the original UK institution, is set to open next year, as is another Harrow International School in Dubai, Taaleem told EnterpriseAM UAE in response to emailed questions.

ICYMI- The UAE-based education provider secured the rights to own and operate the Harrow International School brand in the GCC last summer. It also previously earmarked AED 750 mn to build schools in Dubai and Abu Dhabi. The development comes amid rising demand for international and private schools in the Gulf market.

AVIATION-

#1- UAE state-owned defense giant EDGE Group has launched Powertech, a company specializing in the development and production of high-performance aero engines and propulsion systems for both civil aerospace and defense applications, it said in a press release.

#2- UAE budget-airline Flydubai has inked a services agreement with Boeing to boost its fleet operations, according to a statement. Boeing will make its tailored parts package available to maintain flydubai’s fleet and will provide quick engine change (QEC) kits for the airline’s 737 Max fleet to cut down on costs and schedule impacts during engine removals. Boeing will also launch its tailored flight optimization solution Jeppesen FliteDeck Advisor on FlyDubai’s fleet to improve flight profiles, reduce fuel consumption, and streamline flight schedules.

DEBT-

Somalia settles debt with ADFD: The Abu Dhabi Fund for Development (ADFD) has finalized a USD 257.3 mn (AED 944.8 mn) settlement agreement with the Somali government at the World Governmens Summit, clearing financial obligations related to the Juba Sugar Factory project, Somali National News Agency reports. The settlement agreement marks a “milestone in Somalia’s economic development” and recovery, Somalia’s Finance Minister Bihi Egeh said on X.

A look back: The Juba Sugar Project project started in 1978, with financing secured through a loan agreement signed in 1980, according to World Bank data (pdf). The loan involved contributions from the Abu Dhabi Fund for Development (ADFD), the Saudi Fund for Development (SFD), and the OPEC Special Fund. The project aimed to develop an 8k hectare sugar estate in the Juba River valley, along with a mill capable of producing 70k tons of white sugar and 30k tons of molasses annually. The initial foreign loan amounted to USD 213 mn. However, due to challenges in loan servicing, only USD 190 mn were disbursed.

MANUFACTURING-

AquaChemie launched AquaChemie Global Chemicals, a USD 25 mn specialty chemical manufacturing facility at Khalifa Economic Zone Abu Dhabi, with the aim of localizing production and reducing reliance on imports, according to a press release. The plant will serve Adnoc, oilfield service companies, and industries like coatings and construction.

CUSTOMS-

AD Ports Group secured a contract to manage Jordan’s 1.3 mn sqm Al Madouneh Customs Center under a new agreement with the Jordan Customs Department, according to a press release. The facility, launched in June 2024, uses AI, blockchain, and IoT technologies for logistics optimization.

TECH-

The Dubai Future Foundation (DFF) and global IT company IBM signed an MoU to develop sovereign cloud capabilities and AI innovation centers in Dubai, Wam reports.

Chinese tech stocks log big gains riding on DeepSeek’s historic debut

China’s tech stocks rallied in February as DeepSeek hype fueled investor appetite: Chinese tech stocks have been riding a wave of investor enthusiasm over the past month, with shares in some of the country’s biggest tech names rising on the back of last month’s unveiling of DeepSeek’s latest AI model that performed on par with its American rivals — but for a fraction of the development cost — writes the Financial Times. For many investors, DeepSeek has proved that Chinese tech companies can challenge US’ dominance in the sector, leading to bullish sentiment that has pushed China’s tech-heavy indices on an upward path.

Chinese tech indices have been performing especially well in comparison to their US counterparts: The Hang Seng Tech Index of the 30 largest Hong Kong-listed tech companies — including many from the mainland — was up around 25% from its 2025-low on 13 January and performing better than its US peer, the Nasdaq 100, which ticked up 1.9% over February.

Some Chinese stocks have seen their share price increase nearly 50%: Zooming in, the biggest seven US tech conglomerates inched down 0.5% collectively over the last month, while Chinese tech firms have seen their shares skyrocket following DeepSeek’s dramatic debut. Alibaba made the biggest leap, gaining 49% in value in the past month, bolstered by reports that Apple is considering partnering with the e-commerce giant to roll out AI-powered features for iPhone users in China. Other now global household names saw significant gains, including automaker BYD with a 40% increase over the past month and Xiaomi with a 31% increase in share price.

This is all happening as US tariffs on Chinese products come into effect: Many market observers had predicted a rocky period ahead for Chinese stocks with US President Donald Trump’s threats and now imposition of a 10% levy on incoming Chinese goods — all USD 450 bn of them. However, investor appetite for the country’s tech sector and the expectations of policy support seem to have kept the country’s stock exchanges comfortably in the green, with the mainland’s CSI 300 up over 4%.

MARKETS THIS MORNING-

Asian markets are in the green in early trading this morning — Japan’s Nikkei is up 1.1%, the Shanghai Composite is up 0.1%, and the Kospi is looking at gains of 1%.

ADX	9,659	+0.2% (YTD: +2.6%)
DFM	5,304	-0.6% (YTD: +2.8%)
Nasdaq Dubai UAE20	4,461	-0.2% (YTD: +7.1%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	4.2% o/n	4.3% 1 yr
TASI	12,386	-0.3% (YTD: +2.9%)
EGX30	29,662	+0.3% (YTD: -0.3%)
S&P 500	6,052	-0.3% (YTD: +2.9%)
FTSE 100	8,807	+0.3% (YTD: +7.8%)
Euro Stoxx 50	5,406	+0.3% (YTD: +10.4%)
Brent crude	USD 74.96	-2.7%
Natural gas (Nymex)	USD 3.57	+1.3%
Gold	USD 2,929	-0.1%
BTC	USD 97,821	+1.5% (YTD: +4.8%)

THE CLOSING BELL-

The DFM fell 0.6% yesterday on turnover of AED 1.2 bn. The index is up 2.8% YTD.

In the green: Al Salam Sudan (+9.6%), National International Holding (+7.0%) and Agility (+6.2%).

In the red: Emirates Investment Bank (-10.0%), National Cement Company (-8.0%) and Dubai Islamic Ins. and Reins. (-5.7%).

Over on the ADX, the index rose 0.2% on turnover of AED 1.4 bn. Meanwhile Nasdaq Dubai closed down 0.2%.

CORPORATE ACTIONS-

Gulf Medical Projects Co. has proposed a dividend payout of 15% of its net income for 2024, pending Security and Commodities Authority and shareholder approval, according to an ADX disclosure (pdf).

Al Dhafra Ins. recommended distributing AED 35 mn in dividends for 2024, amounting to 35% of the company’s capital, according to an ADX disclosure (pdf).

UAE, Libya reopen air routes, US call, and high-level talks at World Governments Summit

President Sheikh Mohamed bin Zayed Al Nahyan received a call from US Secretary of State Marco Rubio, where they reaffirmed the strategic partnership between the UAE and the US and discussed regional security and further cooperation and investment in AI, according to a statement from the US Department of State. The two also discussed the ceasefire agreement in Gaza, stressing the need for hostages to be released.

UAE, Libya reopen air routes: UAE Economy Minister Abdullah bin Touq Al Marri and Libyan Transport Minister Mohammed Al Shahoubi have signed an MoU to lift restrictions on passenger and air cargo movement between the two countries, Libyan news agency Lana reports. The agreement aims to enhance bilateral cooperation in air transport, boost trade and investment exchange, and strengthen economic ties, as Libya works to reopen its airspace to the region.

UAE, Portugal eye economic cooperation: Al Marri also met with Portuguese Economy Minister Pedro Reis on the sidelines of the ICAO Global Implementation Support Symposium 2025 in Abu Dhabi, according to a statement. The discussions focused on enhancing economic cooperation, increasing bilateral investments, and expanding partnerships in key sectors such as aviation, clean energy, technology, infrastructure, tourism, AI integration, green energy and modern agriculture.

ALSO- The UAE and Azerbaijan’s foreign ministries finalized an economic partnership agreement between their two countries during political consultations in Abu Dhabi, Wam reports.

MORE MEETINGS ON THE SIDELINES OF WORLD GOVERNMENTS SUMMIT-

Sheikh Mohammed bin Rashed Al Maktoum met with several world leaders to discuss cooperation, including Sri Lanka's President Anura Kumara Dissanayake, Laotian Prime MinisterSonexay Siphandone, Georgian Prime Minister Irakli Kobakhidze, and Iraqi President Abdul Latif Jamal Rashid. Also from the summit:

Dubai Crown Prince Hamdan bin Mohammed bin Rashid Al Maktoum met with Prime Minister of the Kurdistan Region of Iraq Masrour Barzani to discuss enhancing economic ties, boosting trade and tourism, and promoting investments supporting sustainable development. (Wam)
The Crown Prince also met with Seychelles President Wavel Ramkalawan to discuss strengthening bilateral relations, expanding economic collaboration, and exploring new partnerships in key sectors such as trade, tourism, finance, and renewable energy. (Wam)
UAE Energy and Infrastructure Minister Suhail Mohamed Al Mazrouei said the UAE is open to investing in energy, digitization, and industrialization in Indonesia in a meeting with Indonesia’s Coordinating Economic Affairs Minister Airlangga Hartarto. (Antara)
Dubai’s First Deputy Ruler Maktoum bin Mohammed bin Rashid Al Maktoum met with Turkey’s Treasury and Finance Minister Mehmet Şimşek to discuss expanding trade, tourism, and investment ties. (Wam)
Sheikh Abdullah bin Zayed met Colombian Foreign Affairs Minister Laura Sarabia to discuss expanding bilateral collaboration in trade and investment, and noted growing ties and partnership frameworks for development. (Wam)

CALENDAR

FEBRUARY

7 February-29 April (Friday-Tuesday): The Abu Dhabi Festival, Abu Dhabi.

8-20 February (Saturday-Thursday): Dubai Games 2025, Dubai.

10-13 February (Monday-Thursday): The Dubai Sugar Conference, InterContinental, Dubai Festival City.

11-13 February (Tuesday-Thursday): World Governments Summit 2025, Dubai.

14 February (Friday): The deadline for the consultation period for the Securities and Commodities Authority's draft regulation on security tokens and commodity tokens.

14 February (Friday): The Dubai Rising: Building Tomorrow’s Global Business Capital, Museum of the Future, Dubai.

14-16 February (Friday-Sunday): The UAE Muay Thai Championship, Space 42 Arena, Abu Dhabi.

14-16 February (Friday-Sunday): Taste of Dubai, Dubai Media City Amphitheatre.

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

16 February (Sunday): The International Defence Conference,The Emirates Palace, Abu Dhabi.

17-21 February (Monday-Friday): International Defence Exhibition (IDEX) in Abu Dhabi National Exhibition Center.

17-21 February (Monday-Friday): Naval Defence Exhibition (NAVDEX) in Abu Dhabi National Exhibition Center.

17-21 February (Monday-Friday): Artificial Intelligence Week, Sorbonne University Abu Dhabi

17-22 February (Monday-Saturday): Gulfood, Dubai World Trade Center.

19 February (Wednesday): Invest UAE seminar, V Hotel Dubai.

19-20 February (Wednesday-Thuraday): The International Conference on Reprographic Rights, Sharjah.

19-20 February (Wednesday-Thuraday): Meetings Arabia & Luxury Travel (MALT) Congress, Abu Dhabi Convention & Exhibition Bureau.

19-20 February (Wednesday-Thuraday): TheIDC Middle East CIO Summit, the Grand Hyatt Dubai.

19-21 February (Wednesday-Friday): International Dialogue of Civilizations & Tolerance Conference, Abu Dhabi Energy Centre.

19-23 February (Wednesday- Sunday): Dubai International Boat Show, Dubai Harbour.

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

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

26-27 February (Wednesday-Thursday): Affiliate World Dubai 2025, Dubai World Trade Center.

28-29 February (Friday-Saturday): Investopia 2024, the St. Regis, Abu Dhabi.

28 February-29 March (Friday-Saturday): Ramadan.

8 March (Saturday): Future Women Leaders Forum 2025, Taj Exotica, The Palm, Dubai

27-29 October (Monday-Wednesday): Future Hospitality Summit, Madinat Jumeirah, Dubai.

17-21 November (Monday-Friday): Dubai Airshow 2025, Al Maktoum International Airport, 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.

MARCH

18-19 March (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

29 March (Saturday): New traffic regulations and minimum driving age to take effect.

31 March-2 April (Monday-Wednesday): Eid Al Fitr, national holiday.

APRIL

1 April (Tuesday): New ADGM employment regulations come into effect.

1 April (Tuesday): New personal status law comes into effect.

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

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

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

7-9 April (Monday-Wednesday): Middle East Energy, Dubai World Trade Center.

7-9 April (Monday-Wednesday): World Local Production Forum's 3rd edition, Abu Dhabi National Exhibition Center.

11-13 April (Friday-Sunday): I-Film Festival, Yas Creative Hub, Abu Dhabi.

12-13 April (Saturday-Sunday): Global Justice, Love & Peace Summit, Dubai Exhibition Centre, Expo City Dubai.

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.

14-26 April (Monday-Saturday): Solana Economic Zone, Dubai.

15-17 April (Tuesday-Thursday): The Abu Dhabi Global Health Week, Adnec center, Abu Dhabi.

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

21-25 April (Monday-Friday): The Dubai AI Week, Museum of the Future and Area 2071, Emirates Towers, Dubai.

22-24 April (Tuesday-Thursday): DOMOTEX Middle East, Dubai World Trade Center, Dubai.

25 April-11 May (Friday-Sunday): Dubai Esports and Games Festival, Dubai World Trade Center.

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

28 April-2 May (Monday-Friday): The 64th Annual Conference of the International Federation of Ait Traffic Controllers’ Associations (IFATCA)

Signposted to happen sometime in April:

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

MAY

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

6-7 May (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

13-16 May (Tuesday-Friday): International Union for Health Promotion and Education Conference, Abu Dhabi.

13-15 May (Tuesday-Thursday): Cabsat Middle East and Satellite Middle East, Dubai World Trade Center.

15 May (Thursday-Sunday): The Economy Middle East Summit, ADGM, Abu Dhabi.

15-18 May (Thursday-Sunday): The GLA Global Logistics Conference, Grand Hyatt Dubai.

16-18 May (Friday-Sunday): GISEC, Dubai World Trade Center.

19-22 May (Monday-Thursday): Make it in the Emirates, Adnec, Abu Dhabi.

20-22 May (Tuesday-Thursday): Seamless Middle East 2025, Dubai World Trade Center.

23-25 May (Friday-Sunday): EuroLeague Final Four, Etihad Arena, Abu Dhabi.

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

30 May (Friday): Arafat Day.

31 May-2 June (Saturday-Monday): Eid Al Adha.

Signposted to happen sometime in May:

Asean and summit, Malaysia.

JUNE

17-18 June (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

24-25 June (Tuesday-Wednesday): Middle East Rail, Dubai World Trade Center.

27 June (Friday): Islamic New Year.

Signposted to happen sometime in 2H 2025:

Closing of XRG's acquisition of Covestro

JULY

29-30 July (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

SEPTEMBER

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

16-17 September (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

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

OCTOBER

3-16 October (Friday-Thursday): Dubai Home Festival.

7-9 October (Tuesday-Thursday): The 8th International Symposium on the System of Radiological Protection, the Ritz-Carlton Abu Dhabi, Grand Canal.

9-15 October (Thursday-Wednesday): IUCN World Conservation Congress, Abu Dhabi.

17-19 October (Friday-Sunday): The International Real Estate and Investment Show, Abu Dhabi.

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

28-29 October (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

NOVEMBER

18-19 November (Tuesday-Wednesday): Dubai Future Forum, Museum of the Future, Dubai.

DECEMBER

1-3 December (Monday-Wednesday): Eid Al Etihad (UAE National Day).

1-5 December (Monday-Friday): The World Congress of Neurosurgery, Dubai World Trade Center.

9-10 December (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

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.
Universal Postal Congress 2025, Dubai.

Signposted to happen sometime in the fall of 2025:

2025 Games of the Future, Dubai.
ICOM General Conference 2025, Dubai

Signposted to happen sometime in 2026:

11-13 May (Monday-Wednesday): AI Everything Global, Adnec Center.
The UAE to host the Arab Competition Forum
Dubai to host the Arab Actuarial Conference
United Nations Water Conference 2026, UAE
9-11 January (Friday-Sunday): 1 Bn Followers Summit’s fourth edition, UAE

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