UAE sets up bankruptcy court. PLUS: Banks to phase out OTPs as of today

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WHAT WE’RE TRACKING TODAY

THIS MORNING: US to ease AI exports? + No more OTPs as of today, CBUAE says

Good morning, friends, and happy FRIDAY. The news cycle has slowed to a crawl as we head into the weekend, but we’re not complaining.

A handful of stories are worth your attention this morning: Sharjah’s property market continued to grow in 1H 2025; we now have a bankruptcy court in Abu Dhabi; and Emirates NBD and Du posted their earnings.

WEATHER- No reprieve from the heat: Dubai will see a high of 46°C today, before cooling to 34°C overnight, while Abu Dhabi will reach 44°C during the day and dip to 35°C later at night.

PSA-

You might not be getting any OTPs today: Banks in the UAE will begin phasing out one-time passwords (OTPs) sent via SMS and email for digital transactions starting today, and replace them with in-app authentication features, according to an official document seen by Emarat Al Youm and banking sources who spoke to EnterpriseAM. The change follows CBUAE directives and applies to all types of financial transfers — both domestic and international — as well as other online banking transactions.

WATCH THIS SPACE-

#1- US to ease AI exports? US President Donald Trump unveiled a plan to become an “AI export powerhouse” by easing AI exports to the US’ allies as part of a new AI blueprint aimed at coming out on top in the AI race. The president signed an executive order directing the Secretary of Commerce to implement an AI exports program to allow the deployment of full-stack export packages, including hardware, software, AI models, and cybersecurity measures, according to a White House statement.

The UAE's ambassador to the US Youssef Al Otaiba welcomed the news, saying that the UAE is "ready to fast-track" its partnership with the US, and that they are working closely to adopt US technology and scale it in the UAE, in a statement.

The move marks a diversion from former president Joe Biden’s policy to restrict global access to American AI tech over security concerns and fears it will reach China. The restrictive policies have slowed down progress in the UAE’s partnerships with the US, holding up big projects like the USD multi bn agreement to build one of the world’s largest AI data center hubs in Abu Dhabi. The US and the UAE had agreed on a chip export agreement that will see 500k Nvidia chips a year exported to the UAE for the project, though this has been stalled over security concerns, with ideas like blocking G42’s direct access from the chips floated.

#2- Masdar City firms could soon be allowed to own land, property in Dubai: The Dubai Land Department (DLD) signed a memorandum of cooperation with Masdar City to allow firms operating in Masdar City’s freezones to own land and properties in Dubai under the emirate’s freehold system, according to a statement. The two will collaborate on defining eligibility criteria, and administration and legal mechanisms, as they look to boost investment by diversifying ownership options.

Dubai has been easing rules for freezones: The Dubai Freezone Council launched its One Freezone Passport system earlier this week, enabling cross-freezone operations under a single license. The council approved another resolution this year to allow freezone companies to operate across Dubai after obtaining a permit from the Economy and Tourism Department. Non-DIFC-registered businesses can also expand to other emirates subject to local regulations.

#3- Sidara might lower its bid for Wood Group as talks stretch on: UAE-based engineering and infrastructure consulting firm Sidara is reportedly mulling reducing its bid for UK engineering firm Wood Group on the back of an ongoing probe into its financials, the Financial Times quotes sources in the know as saying. The firm is concerned about legal exposure that could result from the UK’s Financial Conduct Authority’s probe into Wood Group, which has been ongoing for over a month and requires the firm to restate its accounts for 2022 and 2023 following an auditor review.

This has been going on for a while: The company has been the subject of an on-again, off-again takeover bid from Dubai-based Sidara for over a year. After initially scrapping the bid, it returned to talks later and extended the deadline to submit a formal bid several times, with the latest extension giving them until 28 July. Sidara’s latest allcash offer values Wood at USD 318.4 mn with a USD 450 mn debt package, and has been described by Wood’s board as a “better option” for shareholders — though it marks a sharp drop from earlier proposals that valued the firm at GBP 1.6 bn before financial governance issues surfaced.

#4- Arada launches sukuk buyback linked to new debt issuance: Sharjah-based real estate developer Arada initiated a tender offer to repurchase up to USD 100 mn of its USD 500 mn outstanding sukuk due in 2027 from holders, according to a bourse disclosure (pdf). The offer has a purchase price of 102.75% and will remain open until Thursday, 31 July. Earlier this week we reported that the developer was looking to raise up to USD 500 mn in fresh sukuk.

The move will help “optimize Arada’s cost of funding and its balance sheet whilst providing liquidity to investors,” it said in the disclosure.

Advisors: Emirates NBD and Standard Chartered are serving as transaction managers for the operation.

MORNING MUST-READ-

We now have an Arab genome database: Researchers at Mohammed Bin Rashid University of Medicine and Health Sciences (MBRU) developed the first Arab Pangenome Reference, according to the Dubai Media Office. The study analyzed DNA from 53 people from different Arab backgrounds, and identified 110 mn novel DNA base pairs and 235k structural variants.

Why does this matter? Arab populations have previously been underrepresented and a bit of a blind spot in global genomic databases. This study detected that a gene duplication of TAF11L5 was particularly common in the screened individuals, however it’s basically absent from global studies. The research will help precision medicine programs in the UAE and the wider region, and can help better understand disease risk and develop more targeted treatments from a database that reflects the Arab population more accurately.

THE BIG STORY ABROAD-

Powell in the clear? US President Donald Trump visited the Federal Reserve’s construction site yesterday, that — save for one comical bickering incident — seems to have helped dissipate tensions, with Trump saying he does not think it’s necessary to fire Fed Chair Jerome Powell. Despite a televised argument over the cost of the Fed’s renovation of its buildings (watch, runtime: 1:41), Trump said he had talked to him about interest rates and that he believes Powell will “do the right thing.” Trump and his allies have been putting pressure on Fed boss Jay Powell to cut interest rates, even suggesting a probe into the Fed itself earlier this week. (Wall Street Journal | Financial Times | Reuters | Bloomberg)

REMEMBER- The Fed will be meeting next week to decide its next move on interest rates. It is widely expected to hold them steady.

ALSO- Paramount and Skydance’s USD 8.4 bn merger has been approved by the US Federal Communications Commission, in a move that will see CBS merged under Paramount with Paramount Pictures and Nickelodeon. The move also comes after Paramount paid USD 16 mn to settle a lawsuit filed by Trump and after the cancellation of Stephen Colbert’s late show, which has caused controversy amid concerns over freedom of speech. (Reuters | Guardian | Bloomberg)

CLOSER TO HOME- A ceasefire in Gaza seems to be off the table for now after the US and Israel recalled their negotiators from talks yesterday, blaming Hamas for not acting in good faith, despite Hamas’ claims that they have been open to reaching an agreement. (Reuters | Guardian | WSJ)

ALSO- French President Emmanuel Macron said France would recognize Palestine as a state in September on the sidelines of the next annual gathering of the United Nations General Assembly amid a recent push from Europe to end the war in Gaza. France joins 11 other EU countries in recognizing Palestine, including Spain, Romania, Sweden, Ireland and Bulgaria. (Bloomberg | Politico | AP | New York Times)

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Sharjah’s property market saw a 48% increase in transactions in 1H 2025

Sharjah's real estate market recorded AED 27 bn in transactions during the first half of this year, a 48.1% increase y-o-y, state news agency Wam reports, citing a statement from Director-General of the Sharjah Real Estate Registration Department Abdulaziz Ahmed Al-Shamsi. The total number of transactions reached 48.1k, a 3.3% y-o-y rise.

The breakdown: 15.7k sales transactions brought in a total of AED 21.2 bn, while mortgage transactions generated AED 5.7 bn. Residential properties dominated with 11.5k transactions, representing 74.6% of total activity, while industrial transactions made up 20.8%. Commercial properties accounted for 4% of the total.

Some 109 different nationalities invested in the market, with UAE nationals contributing the lion’s share of investment, 45.2%, with a total valuation of AED 12.2 bn. Investors from outside of the GCC followed with 20.1%, and those from outside of the Arab region made up 30.1%.

REMEMBER- The Northern Emirates’ property markets have been seeing steady growth as more people relocate from Dubai to benefit from their affordability, recent infrastructure upgrades, and increased supply. Apartment and villa rents rose around 3% in 2H 2024, according to a report last year, as opposed to Dubai’s double-digit price growth.

UAE establishes dedicated bankruptcy court for financial disputes

The Justice Ministry has established a bankruptcy court to handle cases of financial distress and insolvency, according to a statement. The ministry will also establish an internal bankruptcy administration unit to handle applications, grievances, preventive settlement and restructuring requests, and public disclosures.

The remit: The court will oversee all disputes and applications related to the federal insolvency and financial reorganization law. It will be headquartered in Abu Dhabi’s Federal Court of First Instance, but additional courts can be established in other emirates.

Who will be involved? The court will be led by a president and a group of specialized judges as appointed by the Federal Judicial Council. The new court will also be able to bring in bankruptcy experts to help manage debtor assets and their relations with creditors, as well as handle expediting procedures.

Emirates NBD’s income falls, while Islamic arm delivers + Du has another strong quarter

EMIRATES NBD-

Emirates NBD saw its net income fall 10.7% y-o-y to AED 6.3 bn in 2Q 2025, as lower impairment reversals and a higher tax offset growth in core banking income, according to its financials and a separate earnings release (here (pdf) & here (pdf). The bank posted a net impairment of AED 187 mn during the quarter, compared with 1.4 bn in reversals in 2Q 2024.

Total operating income saw a 12.6% y-o-y increase to AED 12.1 bn during the quarter, driven by increases in both net interest income and non interest income, regional expansion and higher fee and commission income.

The lender saw its net income decline 9.1% y-o-y to AED 12.5 bn in 1H 2025, weighed down by a nearly AED 2 bn drop in recoveries and a higher corporate tax rate, despite strong lending, deposit growth, and revenue gains. Meanwhile, total operating income surged 12% y-o-y to AED 23.9 bn during the period, with an AED 41 bn uptick in lending and a AED 70 bn growth in deposits.

Emirates NBD’s Islamic banking arm, Emirates Islamic, saw its net income hold steady at AED 853.8 mn in the second quarter, compared to AED 852.3 mn in 1Q, according to its financials (pdf). Operating income rose 10% y-o-y to AED 1.5 bn, supported by a 16% rise in income from financing receivables and investment products, which reached AED 1.7 bn.

On a six-month basis: The Islamic lender saw a 12% y-o-y increase in net income to AED 1.9 bn. The growth was driven by higher income across both funded and non-funded lines, as well as net reversal in impairments which came in at AED 135.9 mn compared to a loss of AED 85.5 mn the year before, according to a separate earnings release (pdf). Operating income rose 8.9% y-o-y to AED 2.9 bn, buoyed by a 15.8% increase in income from financing receivables and investments products, which reached AED 3.2 bn for the period.

REMEMBER- Emirates NBD fully took over Emirates Islamic, securing a 100% stake (up from 99.89%) in the Shariah-compliant lender, and delisted it from the DFM in June.

DU-

Du’s revenues reach AED 3.9 bn in 2Q: Emirates Integrated Telecommunications Company (du) saw its net income increase 25.1% y-o-y to AED 726.8 mn in 2Q 2025, according to the company's financial statements (pdf). The firm’s topline rose 8.6% y-o-y to AED 3.9 bn driven by continued robust results across its different business segments, continued revenue diversification, and strong market position, according to a separate earnings release (pdf). The firm saw its subscriber base grow with a 10.8% increase in mobile and 12% in fixed-line services.

On 1H basis: Net income rose 22.4% y-o-y to AED 1.4 bn. Revenues also grew 8% y-o-y to AED 7.8 bn.

Dividends: The board approved an interim dividend of AED 0.24 per share for the first half of the year, representing a 20% increase y-o-y.

Looking ahead: The firm now sees revenues growing 6-8% this year, upgrading its guidance for the year on the back of the strong growth in 1H.

Geopolitical risks fail to deter family offices from flocking to the UAE

Regional geopolitical tensions aren’t dampening Dubai and Abu Dhabi’s appeal for family offices, with investment firms still receiving significant interest from global clients looking to set up shop there, Bloomberg reports. The UAE is drawing wealthy individuals thanks to its financial stability and lack of income and inheritance tax, strategic geographical location, and burgeoning financial sectors — all of which seem to outweigh risks from ongoing geopolitical risks in surrounding countries.

The emirates are increasingly being positioned as appealing alternatives to traditional hubs, as London sees an exodus of high-net-worth individuals amid the axing of a tax break, and Chinese families ditch Singapore and its more stringent reporting requirements. However, wealthy families opening offices in the UAE are also diversifying where they hold their assets to mitigate risk.

AD Ports opens China office

LOGISTICS-

AD Ports Group has opened its first international office in China as it looks to deepen trade and investment ties with the world’s second-largest economy, according to a press release. The new Beijing office will coordinate commercial activity across China and the broader Asia region, and its subsidiary Noatum Logistics will also operate a new commercial branch for the Beijing-Tianjin market, the group said.

Not their first rodeo in China: The new office builds on existing ties between AD Ports and China. China’s Cosco Shipping already operates a container terminal at Khalifa Port via a JV with AD Ports. AD Ports also co-manages an economic zone in Abh Dhabi alongside Jiangsu Overseas Cooperation Investment Company. More recently, it signed an agreement with China’s Ningbo Zhoushan Port to develop an automotive logistics network between China and MENA.

ENERGY-

Banks financing Masdar, Iberdola’s East Anglia project revealed: State-owned renewables firm Masdar and Spanish energy firm Iberdrola secured funding for the 1.4 GW East Anglia 3 offshore wind project in the UK from 23 banks and Denmark’s export credit agency (EIFO), according to a press release. The financing — which was 40% oversubscribed — marks the largest ever for Masdar. It was announced earlier this month.

Who else is involved? BBVA, HSBC, ING, NatWest, SMBC, MUFG, Bank of China, Crédit Agricole, CaixaBank, Santander, BNP Paribas, Helaba, Barclays, ANZ, Rabobank, First Abu Dhabi Bank, ICO, Abanca, Kutxabank, Standard Chartered, Bank of Ireland, CIC, and Siemens Bank were all involved in the transaction.

Refresher: Last month, the two announced they would jointly invest in the 1.4 GW windfarm in the UK. Each will hold a 50% in the facility which is set to generate enough electricity to power 1.3 mn UK homes. Initial operations are slated to begin in 4Q 2026. The project, East Anglia Three, is being developed by ScottishPower Renewables, the UK arm of Iberdrola, under the larger East Anglia Hub program..

FINANCIAL SERVICES-

CBUAE launches second JV this week: The Central Bank of the UAE (CVUAE) and Emirati digital payments firm Mercury are forming a financial market infrastructure-focused JV, according to a press release (pdf). The JV, Unitey Business Services, will implement the CBUAE’S financial infrastructure transformation program and boost market resilience and operational efficiency.

Background: The central bank earlier this week also launched a JV with AI firm Presight to deploy AI-powered technology platforms for the UAE’s financial market tech stack.

BUSINESS-

Prologis sets up shop in DIFC: Prologis, a US-based real estate investment trust focusing on logistics facilities, established a new office in Dubai International Financial Center, according to a press release. The new center will be its regional base for facilitating private capital investments in logistics facilities, as well as in the energy and data center sectors in MENA. Umair Naqvi (LinkedIn) will head up the office and focus on partnerships with sovereign wealth funds and family offices for the firm, which currently manages USD 205 bn in assets.

REAL ESTATE-

ndia’s Casagrand expands to UAE with Dubai Islands residential project: Indian real estate developer Casagrand is launching in the UAE with a residential project on Dubai Islands, the details of which will be announced soon, according to a press release. The project comes as part of a broader plan to deliver 6 mn sqft of residential and mixed-use space in the UAE over three years. Its launch in the UAE marks its first international expansion.

STARTUPS-

Tokenized assets marketplace Toyow has secured USD 10 mn in funding from investment firm Nimbus Capital to expand in the UAE and EU, according to a press release. Toyow launched operations in the UAE a few months ago, with some USD 500 mn worth of real estate tokenization discussions already underway with developers in Dubai. The company is also looking to expand its platform infrastructure and bring onboard institutional asset originators.

Continuation funds boom as private equity faces a frozen exit market

Buyout firms are leaning more heavily than ever on continuation funds as traditional exits via IPOs or sales to outside buyers dry up, the Financial Times reports. Continuation funds accounted for USD 41 bn of exits in 1H 2025 — equal to 19% of all private equity sales, and 60% more than the same period last year, the FT reports, citing a recent report from investment bank Jefferies.

That’s a record share as sponsors struggle to return capital to investors amid a prolonged slowdown in public listings and M&A agreements. The secondary market — where buyout firms and institutional investors can trade stakes — has also seen a boom in activity, with over USD 100 bn of holdings changing hands.

How it works: The continuation mechanism essentially allows the firm to sell portfolio companies to themselves by transferring it to another of its internal funds. Investors can either cashout or roll over into the new vehicle. In theory, that gives buyers and sellers more time to realize value. In practice, it’s also a way to recycle capital and keep fee streams alive.

PE groups are holding upwards of USD 3 tn in unsold assets and are approaching a fourth year of subpar distributions to investors. “The exit environments are challenging and the IPO market is dormant,” Jefferies global co-head of secondaries Todd Miller told the Financial Times.

Despite the boom, continuation funds are not the preferred route for PE investors, with just one-sixth preferring continuation funds over traditional exits and nearly two-thirds saying they’d rather see sponsors sell via IPOs or M&A, according to a Bain & Co survey.

Still, it’s here to stay: Jefferies’ global co-head of secondary advisory Scott Beck expects “most sponsors will plan to do one or two” continuation funds out of every new fund, calling them a “bona fide exit route.”

MARKETS THIS MORNING-

Asian markets are mostly in the red this morning, with Chinese stocks opening lower and Japan’s Nikkei down 0.6%. The only outlier is South Korea’s Kospi, which is up 0.2%. Wall Street futures, on the other hand, are pointing to a strong open after the S&P 500

and Nasdaq notched another record closing high yesterday.

ADX	10,301	+0.0% (YTD: +9.4%)
DFM	6,111	+0.4% (YTD: +18.4%)
Nasdaq Dubai UAE20	5,092	+0.2% (YTD: +22.3%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	4.2% o/n	4.3% 1 yr
TASI	10,946	-0.4% (YTD: -9%)
EGX30	34,125	+1% (YTD: +14.7%)
S&P 500	6,363	+0.1% (YTD: +8.2%)
FTSE 100	9,138	+0.9% (YTD: +11.8%)
Euro Stoxx 50	5,355	+0.2% (YTD: +9.4%)
Brent crude	USD 69.39	+0.3%
Natural gas (Nymex)	USD 3.10	+0.2%
Gold	USD 3,432.10	+0.0%
BTC	USD 118,786	+0.7% (YTD: +25.8%)
Chimera JP Morgan UAE Bond UCITS ETF	AED 3.56	-0.3% (YTD: -0.2%)
S&P MENA Bond & Sukuk	146.14	-0.2% (YTD: +4.4%)
VIX (Volatility Index)	15.39	+0.1% (YTD: -11.3%)

THE CLOSING BELL-

The DFM rose 0.4% yesterday on turnover of AED 762.3 mn. The index is up 18.4% YTD.

In the green: Dubai Refreshment Company (+6.3%), Sukoon Takaful (+5.8%) and BHM Capital Financial Services (+4.8%).

In the red: National General Ins. Company (-6.8%), International Financial Advisors (-5.1%) and Al Salam Sudan (-5.0%).

Over on the ADX, the index remained flat on turnover of AED 1.5 bn. Meanwhile, Nasdaq Dubai was up 0.2%.

CORPORATE ACTIONS-

Amlak settles up debt ahead of schedule: Real estate financier Amlak Finance has fully settled its remaining AED 898 mn in financial obligations, completing all payments 15 months ahead of the October 2026 contractual deadline, according to a press release (pdf). The firm has settled AED 10.2 bn with 29 financiers since 2014. The company utilized proceeds from land asset sales (here and here) after deciding to exit its real estate finance portfolio to facilitate the early settlement.

E7 Group's board of directors has approved a one-time special dividend of AED 800 mn as part of its capital restructuring strategy, according to a disclosure (pdf). It also committed to minimum annual dividends of 10 fils per share through 2027 and announced a voluntary warrant buyback at AED 2.40 apiece.

My Morning Routine: Simon Sharp, senior partner at Global Ventures

Simon Sharp, senior partner at Global Ventures: Each week, My Morning Routine looks at how a successful member of the community starts their day — and then throws in a couple of random business questions just for fun. Speaking to us this week is Simon Sharp (LinkedIn), senior partner at Global Ventures. Edited excerpts from our conversation:

I’m Simon Sharp. I'm a senior partner at Global Ventures. I've lived in the region for nearly six years. Before that, I was working in the UK as a venture capitalist. I had the privilege of moving to the region and joining Global Ventures in its early phases, and have been with the firm since.

Global Ventures focuses on investing in early stage companies, and I lead the investment team, so I spend most of my time working with and investing in founders. We focus on tech-enabled or tech-driven businesses, typically at the Series A stage, but it can be slightly earlier or later.

Our main region of focus is the Middle East and Africa. We're based in the UAE, and that’s the market where we have strong connections, but we're ultimately looking to invest into founders that are looking to grow their businesses globally.

Our portfolio is around 70-80% or so from the region, and then opportunistically, we’ll invest in ones from outside the region with founders who are from here or who plan to expand here. That’s where we can add value rather than just provide capital and sit back and watch.

Despite the macroeconomic events that have hit VC funding over the past few years, when we take a step back and look at the region, we see a tenfold increase in VC funding from just USD 300 mn seven or eight years ago to around USD 3.5 bn in the last couple of years. Some articles out there are saying that the region is one of the fastest growing venture ecosystems globally, so we’re super excited by what we’re seeing.

We always look at things like demographics, and the region has a population of around 60-70% below the age of 35. You have a consumer base which is very tech-savvy and wants to utilize that technology, whereas in other demographics around the world, it’s mostly the reverse dynamic. When you've got a pocket of around 2 bn people across the Middle East Africa, that's a great place to be building technology.

After this downturn of funding in 2021 and 2022, there has been a real shift towards creating a sustainable business, as opposed to growth at all costs. You can still see that message resonating with founders, who are more aware now that it's not always going to be easy to raise that next round of capital, so their ability to tell their story and push into growth to make it a growth capital story is becoming more important and more common.

We’re also starting to see some more consolidation over the last year or two across the board where you see different geographic focuses or slightly different customer bases come together rather than grow (and struggle) separately.

Our early funds were focused on fintech, when the economy was really shifting from a cash-based one to more of a digital one. It’s one of the most well funded sectors within venture capital in the region, and probably globally as well, because you’ll always have deeper subsector-focused layers within that space, and it cuts across nearly every business. We’ve also leaned heavily into e-commerce, especially in Saudi Arabia.

What we think is underfunded is healthtech, which has been on our radar actually for the last four or five years. We’re also more interested in supply chain recently, again because of its broad scope and the position of the region as a trade hub. Agritech is also a sector that we've heavily looked at, especially since the region is more concerned now with food security.

I always get up around 6:30am and I'm in the gym by around 7:15am. That hour sets me up for the day. I’m very much a healthy body, healthy mind type of guy, and it really helps me come to work with complete clarity, not like I’ve just rolled out of bed. It’s like meditation for me, so that’s a non-negotiable.

Every day, I’m either at the office or I'm out meeting or working with founders. The reality is every day is different, and I think that's what makes it so exciting for me, because I'm not at my computer all day working on one thing. On an average day I may have two or three meetings with founders, and they could be founders I’ve never met before, and sometimes from sectors I’ve never thought of before. So I go into every meeting knowing that I’m going to learn something new.

I sit on the board of around 10 companies, so there's board meetings that also take up plenty of time. I try to do a good mix of in-person and online. I do as much in person as possible because I think it really helps build that relationship and you learn much more than online. We'll also be thinking about our portfolio construction, how our current fund is shaping up, transactions in the pipeline, and what trends we’re seeing.

A bit like in the mornings, I have an hour in the evening where I spend time cooking and eating with my wife. That's another off period for me where I’m away from the phone and computer. But the reality is our founders and investors are in different time zones, so it is one of those jobs where you’re always on, and I enjoy that. I also personally like traveling, so I really enjoy getting to do that a lot.

What’s exciting me from a work perspective is where we are as an ecosystem, because we are seeing lots of companies get to that Series B stage where there needs to be that next round of funding and a clear path towards an exit. It’s becoming ever more important for us to support founders through that phase. It’s true that it takes a village, so we have to be plugged into the ecosystem at large — it’s not about just providing capital, but about the relationship we have with other investors and other VCs, so that we can help the ecosystem grow like we see in other more mature markets. That’s going to allow more capital to funnel back into the earlier stages.

One book that I read in the last six months that really resonated with me was The Culture Map by Erin Meyer. As an expat in the region, I find it really interesting because it's about how you work with people from different cultures starting with your communication style to the little things that you might take for granted but are inherent in people because of their culture.

The one piece of advice I’ve received that has resonated with me is: Be the type of leader that you would want to work for. It was one of my bosses in my earlier career who said that, and I really respected him and the way he worked with people — he always got his hands dirty and had a lot of respect for his colleagues, so that’s something that stayed with me.

CALENDAR

JULY

7-25 July (Monday-Friday): Subscription window for Al Mal Capital REIT’s follow-on offering on the DFM.

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

AUGUST

8-15 August (Friday-Friday): Expected trading window for Al Mal Capital REIT’s new units on the DFM.

SEPTEMBER

1-6 September (Monday-Saturday): Dubai Fashion Week, Dubai Design District.

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

8-10 September (Monday-Wednesday): WHX-Tech Expo, Dubai World Trade Center.

8-19 September (Monday-Friday): Universal Postal Congress, Dubai World Trade Center.

10-11 September (Wednesday-Thursday): MENA Public-Private Partnership Forum, Dubai.

10-20 September (Wednesday-Saturday): IFMA Youth World Muay Thai Championship, Abu Dhabi.

12-14 September (Friday-Sunday): The International Real Estate and Investment Show, Abu Dhabi.

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

23-24 September (Tuesday-Wednesday): MENA EV Show, The Agenda, Dubai Media City.

24-25 September (Wednesday-Thursday): The KT UniExpo, The H Dubai.

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

24-25 September (Wednesday-Thursday): Dubai World Congress for Self-Driving Transport, Dubai.

OCTOBER

1-2 October (Thursday-Friday): World Green Economy Summit (WGES), Dubai World Trade Center.

30 September-2 October (Tuesday-Thursday): The Water, Energy, Technology, and Environment Exhibition (WETEX), Dubai World Trade Center.

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

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

9 October (Thursday): Family Office Summit, Park Hyatt, Dubai.

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

14-16 October (Tuesday-Thursday): Global Future Councils, Dubai.

15-18 October (Wednesday-Saturday): Middle East Electric Vehicle Show, Expo Center Sharjah.

20 October (Monday): Reuters NEXT Gulf Summit, The St. Regis Saadiyat Island Resort, Abu Dhabi.

22-24 October (Wednesday-Friday): World Investment Conference, Expo Center Sharjah.

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

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

4-9 November (Tuesday-Saturday):Dubai Design Week, Dubai.

11-17 November (Tuesday-Monday): International Council of Museums (ICOM) General Conference, Dubai

12 November (Wednesday): Dubai Business Forum, Cipriani South Street, New York City.

12-17 November (Wednesday-Monday): RoboCup Asia-Pacific, Khalifa University, Abu Dhabi.

15-17 November (Saturday-Monday): Myplant & Garden Middle East Green Expo, Dubai Exhibition Center, Expo City.

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

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.

7-14 December (Sunday-Sunday): Asian Youth Para Games, APC headquarters, Dubai.

8-9 December (Monday-Tuesday): BTC Mena Conference, Adnec, Abu Dhabi.

8-10 December (Monday-Wednesday): Bridge media summit, Abu Dhabi.

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

18-23 December (Thursday-Tuesday): Games of the Future, Adnec, Abu Dhabi.

29-30 December (Monday-Tuesday): World Sports Summit, Dubai.

Signposted to happen sometime in 2025:

e& will complete Adnoc’s private 5G network.
Executive Committee Meeting (EXCOM 2025) conference of the World Smart Sustainable Cities Organisation (WeGO)

Signposted to happen sometime in 2H 2025:

Closing of XRG's acquisition of Covestro

JANUARY 2026

1 January: Client asset regime changes in Dubai International Financial Center take effect.

9-11 January (Friday-Sunday): 1 Bn Followers Summit, UAE.

28-29 January (Wednesday-Thursday): IBA Arbitration Day Conference, Abu Dhabi.

FEBRUARY 2026

3-5 February (Tuesday-Thursday): The World Governments Summit.

12-15 February (Thursday-Sunday): The Society for Incentive Travel Excellence Global Conference, Abu Dhabi.

Signposted to happen in 2026:

31 March - 2 April (Tuesday-Thursday): Arab Media Summit, Dubai.
13-15 April ( Monday-Wednesday) : The International Glass Manufacturing Show, Dubai.
14-16 April: (Tuesday-Thursday): the International Property Show, Sheikh Zayed Rd, Dubai.
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
Dubai Future Finance Week
Investopia Global Talks, Tashkent

Signposted to happen sometime in October 2026:

Abu Dhabi Space Week, Abu Dhabi.

Signposted to happen sometime in 2027:

Abu Dhabi’s solar and battery energy facility, combining 5.2 GW of solar capacity and 19 GWh of battery storage, is set for commissioning.

Signposted to happen sometime between 2027 and 2029:

Sibos 2029 organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), Dubai.
The commissioning of the seventh phase of Mohammed bin Rashid Al Maktoum Solar Park.

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