UK-UAE ties face latest test as Manchester City is found in breach of financial rule charges

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WHAT WE’RE TRACKING TODAY

THIS MORNING: L’imad moves ahead with AD Ports squeeze-out + Adic backs Nscale’s USD 3.3 bn financing round

Good morning, everyone. Manchester City’s financial rules case has reached a decision, and it’s not good news for the football club. However, findings that City is in breach of financial rules come at a positive time for bilateral relations between the UK and the UAE, with GBP 30 bn in investment commitments and wartime support giving weight to the argument that ties won’t be derailed.

On the energy front, XRG, TotalEnergies, and Socar have taken FID on the full-field development of Azerbaijan's offshore Absheron gas field, giving XRG capital committed at both ends of the country's gas chain just weeks after closing its Southern Gas Corridor stake.

Other UAE heavyweights are equally busy: L’imad is moving full steam ahead on the AD Ports squeeze-out, issuing the mandatory notice to acquire the remaining 1.07% stake it doesn’t own in the firm. Meanwhile, Adic has backed AI infrastructure firm Nscale’s USD 3.3 bn pre-IPO financing round.

Watch this space

We’re happy to welcome Ahmed Mohsen as a guest speaker at the 2026 EnterpriseAM Egypt Forum — the AI edition.

Ahmed Mohsen is the co-founder and CTO of MNT-Halan, one of the fastest-growing fintech platforms in the Middle East and Africa, serving over 8 mn customers across Egypt, Pakistan, Turkey, and the UAE. He leads the company’s technology strategy and architected Neuron, MNT-Halan’s proprietary core banking system, overseeing a team of more than 90 engineers building the company’s digital infrastructure. A serial entrepreneur with deep roots in cybersecurity, Mohsen also co-founded SecureMisr, one of Egypt’s pioneering cybersecurity firms, acquired by Cysiv in 2020.

Join us on 5 October in Cairo. Attendance is by invitation only, and we’ve reached full capacity.

Request your invitation here to join the waitlist.

L’imad moves full steam ahead on AD Ports squeeze-out

L’imad is pushing ahead with its squeeze-out of AD Ports, issuing a mandatory acquisition notice to take over the remaining 1.07% stake in the firm via ADQ after it recently lifted its holding to 98.93%, according to an ADX disclosure (pdf). The buyout settled two weeks ahead of schedule, having moved a 9 October deadline forward to 25 September. L’imad has wasted no time with the squeeze-out either, moving ahead with the notice significantly faster than the 60-day deadline.

ADQ is officially tidying up its cap table: ADQ, acting through L’imad Holding, is now above the 90%-plus-one-share threshold required to trigger the squeeze-out under Abu Dhabi’s M&A rules. The compulsory acquisition covers all shares not already held by the acquirer and will be followed by a challenge period, after which a delisting is likely to take place.

ICYMI- This comes after the 15 September close of a voluntary tender offer in which ADQ secured 23.08% of AD Ports, or about 94% of the shares that it didn’t already own. L’imad had played the same cards with Taqa, moving to take full control through Abu Dhabi Power, before delisting it from the ADX.

Adic backs AI infrastructure player Nscale

The Abu Dhabi Investment Council (Adic) was among those lining up to back Nscale’s USD 3.3 bn financing round via convertible loans, as part of the London-headquartered AI infrastructure firm’s pre-IPO raise, Nscale said in a press release. Investing in AI infrastructure has been a key pillar of the wider Abu Dhabi investment strategy recently.

The funding is structured through an initial USD 2.36 bn tranche, which will be followed by a USD 1 bn commitment from Nvidia, set to arrive in mid-November. The loan notes will automatically convert into equity once Nscale completes an IPO, with Nvidia receiving non-voting shares.

Where the money goes: The funding will support Nscale’s buildout across the AI stack, including behind-the-meter power plants, liquid-cooled data centers, and GPU clusters. The company says it has more than USD 103 bn in total contracted value, pointing to demand beyond the data-center land grab.

Also involved: Third Point led the funding round, with Apollo-managed funds, Citadel, Hudson Bay Capital, and Davidson Kempner Capital also among those taking part.

ADVISORS- Goldman Sachs acted as placement agent for the capital raise.

Investors go after AIX for failing to deliver

A Dubai investment group with offices in Burj Khalifa is in hot water over missed payments: Clients of AIX Investment Group accuse the firm of halting or delaying payouts on products that promised double-digit annual returns, the Financial Times reports, citing court documents, investors, and lawyers. Two investors have filed claims for USD 2 mn and USD 8 mn at the DIFC Courts, and thousands of clients could be affected. One claim describes AIX’s payment performance as “delayed, irregular and opaque.” Local authorities have also visited AIX’s premises to investigate, the salmon-colored paper says.

What was on offer: AIX marketed bond-like products paying 12% and 16% a year and property-linked investments with fixed annual returns of 14.4%, some structured across five jurisdictions, including the Cayman Islands and Switzerland. Clients, among them longtime Dubai residents, airline pilots, entrepreneurs, and a Saudi prince, invested anywhere from USD 10k to mns of USD. The total amount invested isn’t known. Investors say the delays began about nine months ago after digital asset prices fell, adding that income transfers stopped entirely by mid-2026. The firm built its profile through a sponsorship of F1 driver Pierre Gasly and a long-running commercial on Emirates.

In response, the group cited “exceptional geopolitical uncertainty and significant volatility across global financial markets” as “affect[ing] valuations and investment realization cycles” in a statement. According to AIX, only “a limited part” of its offering was affected.

Why it matters: Several of AIX’s products were issued through offshore vehicles that aren’t regulated in the UAE, the publication says. The one AIX entity regulated by the Capital Market Authority (CMA) was licensed only to provide advice and make introductions. The firm paid a fine to Qatar’s regulator in 2024 after an investigation found false and misleading claims on its website, and the Cayman Islands regulator warned this month that AIX had never been licensed or regulated there. The CMA declined to comment on AIX specifically.

What’s next? AIX has brought in counsel and advisers to support the restructuring of the affected investments, with one source saying the investment firm is also raising funds at the moment. The next update is set to come by 12 October.

Al Zeyoudi turns UNGA into a trade roadshow

Foreign Trade Minister Thani Al Zeyoudi used the UN General Assembly (UNGA) week in New York to push the UAE’s trade and investment agenda across Asia, Latin America, and the US, according to Wam. His schedule included investor roundtables, development-finance discussions, and meetings with counterparts from Thailand, Peru, and Argentina. He also joined events with the UAE-US Business Council and other investor groups, turning the UAE’s UNGA presence into a broader capital and trade outreach push.

The trade angle is the one to watch: We reported in July that the UAE was aiming to finalize another five to seven Comprehensive Economic Partnership Agreements (CEPAs) by year-end, with talks underway with around 20 countries — including Peru, where negotiations were progressing. More recently, the UAE launched fast-tracked CEPA talks with Argentina on the sidelines of the UNGA.

Data point

12.8 mn bbl / d — that’s how much crude oil key Middle East producers exported in September, largely the result of increased shipments from countries such as the UAE and Saudi Arabia, Reuters reports, citing data by Kpler. This marks the highest output since the start of the Iran conflict, and is roughly 6 mn bbl / d below February’s 18.8 mn bbl / d.

The Egyptian government locked in enough LNG and crude to carry the country through peak demand this summer, and the real question now is who pays for it and for the rebuild ahead.

PowerTrip, our new four-part signature series, follows the money behind an energy sector that went from exporting gas to importing it in just five years.

Over the four issues this autumn, we'll look at how the lights stayed on and what that cost, who will own the next generation of power, how fast renewables can really scale, and whether Egypt's claim to be the region's energy hub still holds.

Issue I lands Wednesday, 30 September, and looks at how Egypt avoided rationing this summer, how the country went from gas exporter to importer in a decade, and what keeping the lights on actually cost us.

Coming straight to your inbox — Wednesday, 30 September.

PSA

Businesses whose tax period ended on 31 December 2025 have until Wednesday, 30 September to file their corporate tax returns and pay any tax due, the Federal Tax Authority said in a statement.

Small businesses, you’re not off the hook: Taxable persons generally have nine months from the end of their tax period to file and pay, and records must support reported revenue, taxable income, and any Small Business Relief claims. The deadline also applies to businesses eligible for Small Business Relief. The government extended the relief through end-2029 for resident taxable entities with annual revenue of AED 3 mn or less, but qualifying businesses still need to file their returns by the applicable deadline.

WEATHER- Temperatures today will hit highs of 41°C in Abu Dhabi with overnight lows of 29°C, and 40°C in Dubai before cooling somewhat to 30°C overnight, according to our favorite weather app.

The big story abroad

A security development has cropped up on an unexpected front. UK authorities arrested five men suspected of planning a “major incident” near RAF Fairford, a Gloucestershire base used by the US Air Force in its strikes against Iran. US President Donald Trump said Washington collaborated with the UK to avert this attack on the base, which Iran’s Revolutionary Guard declared a legitimate target last July.

AI in the hot seat: Australian senators have called the CEOs of OpenAI and Anthropic to answer questions at an upcoming AI inquiry, triggered by the recent hack of the country’s health database by an autonomous OpenAI agent. Meanwhile, OpenAI admitted its AI models accessed public data from US government websites such as those of the Securities and Exchange Commission (SEC) and Census Bureau.

Safety is one thing — cost, another: Surging IT costs are driving US corporates toward “open” AI models they can customize and run in-house, instead of paying for premium versions of ChatGPT and Claude. Executives mentioned “open weight” or “open source” AI models six times as often in earnings calls and investor conferences in August and September compared with the same period last year, according to research platform AlphaSense.

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Ruling finds Manchester City in breach of financial rule charges

Man City investigation reaches boiling point: An independent commission has found Manchester City in breach of 114 of the 115 financial rule charges brought against it by the Premier League, the Financial Times reports — a verdict against a club owned by one of Abu Dhabi's most senior royals, landing just as UK-UAE relations are back on firm footing. The findings have not been published, and sanctions have yet to be determined. Club Chair — and Mubadala CEO — Khaldoon Al Mubarak said in a statement that the process remains ongoing “with significant elements to be completed” and maintains its longstanding denial of wrongdoing.

What is this case actually about? The Premier League charged City in February 2023 after a multi-year investigation, alleging breaches between seasons 2009/10 and 2017/18 covering financial reporting — including sponsorship revenue, related parties, and operating costs — manager and player remuneration, compliance with UEFA and Premier League financial rules, and cooperation with the investigation. The charges were referred to an independent commission. If the reported findings stand through the remaining process, penalties could range from fines and points deductions to expulsion from the league or compensation for other clubs.

Where football meets foreign policy

Since 2008, City has been owned by UAE Deputy Prime Minister Sheikh Mansour bin Zayed Al Nahyan, who is also the brother of President Sheikh Mohamed bin Zayed and chair of the USD 385 bn Mubadala. Al Mubarak took a pointed swipe at the league, saying it had respected due process on the basis that the Premier League would act as an impartial regulator “free from partisan influence.” Simon Penney, a former UK trade commissioner to the Middle East, told the FT there may be a feeling in Abu Dhabi that City has been singled out, but that if the breaches are genuine, it will be hard to call the case politically motivated. We flagged this risk in February 2025, when the UAE had reportedly raised the case with the UK government.

There is some scar tissue here: UK-UAE ties had already been strained by disagreements like the Telegraph saga, according to the Financial Times. Abu Dhabi-backed RedBird IMI’s attempt to take control of the newspaper was derailed after the UK moved to restrict foreign-state ownership of British newspapers, eventually forcing it to pursue a sale.

The relationship has moved on since: British warplanes helped defend the UAE against Iranian drones and missiles during this year’s conflict, helping rebuild trust between the two countries, the paper reports. In April, the UK and UAE also agreed a new cooperation framework covering defense, trade and investment, AI, and the energy transition, and the UAE is also looking to secure a specific trade agreement with the UK, on top of the existing one with the wider GCC bloc.

And Downing Street now has a Manchester connection: Prime Minister Andy Burnham, the former mayor of Greater Manchester, replaced Starmer in July and opened his first call with Sheikh Mohamed by thanking him for the UAE's investment in the city. Burnham and Business Secretary Jonathan Reynolds, an MP for Manchester, are said to have good personal relations with Al Mubarak, who met Reynolds in London in the past couple of weeks, though a senior government figure told the FT that City wasn't discussed. Burnham’s business envoy, Varun Chandra, is working to keep the ruling from spilling into the wider relationship. “We don't think there will be any retaliation,” the senior government figure said.

There's a lot of money riding on keeping it that way: Bilateral trade was worth about GBP 25 bn last year, according to UK officials, and the UAE-UK Sovereign Investment Partnership, which Al Mubarak oversees, has generated GBP 30 bn in investment commitments, the FT reports.

What’s next

So where’s the real risk? Not the ruling itself, says a former official, who told the FT that Abu Dhabi “presumably knew this was coming.” The bigger danger is UK commentators or politicians using the verdict to take a wider swipe at the UAE, which is what happened with the Telegraph deal. Emirati academic Abdulkhaleq Abdulla said the two sides now need to handle the case “legally rather than politically.”

What to look out for: The commission still has to set sanctions, and City can challenge the findings once they are published. The real test for the relationship comes if those sanctions are severe, a points deduction or worse. Watch whether Abu Dhabi raises the case with London again, and whether it surfaces in the bilateral trade talks.

XRG doubles down on Azerbaijan gas with Absheron expansion and export-route exposure

XRG now has capital committed at both ends of Azerbaijan’s gas chain: Adnoc’s investment arm XRG, TotalEnergies, and Azerbaijan’s Socar took the final investment decision (FID) on the full-field development of the offshore Absheron gas and condensate field, XRG said in a statement. The expansion will quadruple the field's gas output, from the 1.5 bcm a year the first phase has produced since 2023 to 6 bcm, alongside 47k barrels per day of condensate, according to TotalEnergies. Startup is slated for 2029. The FID comes less than two weeks after XRG closed its stake in the Southern Gas Corridor, the pipeline system that carries Azerbaijani gas to Europe.

Who owns what? TotalEnergies operates the project with a 35% stake. Socar holds another 35%, and XRG owns the remaining 30%.

We knew the Absheron expansion was coming, although the FID landed later than initially expected. In March, the second phase was targeting a 2029 startup, with an investment decision then expected in July. Adnoc had also signed an agreement in June to take gas from Absheron once the expanded project comes online.

Why it matters: Absheron's gas will supply Azerbaijan's domestic market and be exported to Turkey through the existing network that connects the country to European markets, which is the system XRG just bought into. XRG's corridor stake is a minority one with no control over flows or capacity, but it now earns on both the molecules and the route that carries them west.

Azerbaijan is one piece of a wider Caspian build-out. XRG holds 38% of Turkmenistan's offshore block I concession, which produces nearly 400 mmcf / d of gas and sits on more than 7 tcf of resources.

Outside the Caspian, XRG has been spending across the Americas. It holds equity in all five trains of the Rio Grande LNG project in Texas, has agreed to take 32% of three upstream blocks in Argentina's Vaca Muerta pending regulatory approval, and is now evaluating a potential investment in Shell-backed LNG Canada.

Edge + TKMS team up on underwater defense, ADX secures a SWIFT code

Edge and TKMS take the underwater route

Abu Dhabi defense giant Edge is expanding its European footprint, signing an MoU with German shipbuilding company TKMS to collaborate on underwater surveillance and protection systems, according to a press release. The goal is to blend advanced sensor networks and multi-platform tech into an all-seeing underwater radar that can be used by both countries’ maritime defense systems.

IN CONTEXT- For the UAE, the push comes as maritime security becomes increasingly tied to economic resilience and the protection of commercial shipping routes. The new MoU folds it into the broader UAE-Germany bilateral framework, and come amid growing Edge ties to Europe through a recently established European HQ in Paris.

ADX secures direct SWIFT integration

The Abu Dhabi Securities Exchange (ADX) officially activated its SWIFT code, plugging directly into the universal messaging network of global finance, according to a press release (pdf). The SWIFT connection makes cross-border transactions easier — allowing international investors and market infrastructure providers to connect to the UAE’s capital markets.

Family offices pile into public equities as inflation overtakes tariffs as top concern

The world’s wealthiest families are leaning further into public markets — without abandoning private ones. Listed stocks emerged as the preferred destination for future allocations in Citi’s 2026 Global Family Office Report (pdf) as inflation replaced tariffs as family offices’ biggest financial concern. The survey drew responses from 351 family offices across more than 40 countries in June and July.

REMEMBER- The global picture looked rather different a year ago: Citi’s 2025 survey found private equity had the strongest allocation momentum, with 36% of family offices increasing their exposure and just 10% cutting it, as we reported at the time. Back then, trade disputes and tariffs were the biggest concern for respondents.

Inflation is changing the calculus: Nearly two-thirds of respondents in the 2026 survey named inflation as their top concern, followed by interest rates (44%) and the stability of the global financial system (38%). The Middle East conflict came in at 32%, while tariffs fell to 18%. But portfolios are holding up: some 89% of respondents reported positive returns so far this year, up from 84% in 2025, and 41% continue to target annual returns of 7-10%.

And investors are reaching for liquidity: Some 46% of respondents increased their public-equity exposure over the past year, against 12% who reduced it. That momentum looks set to continue: 37% plan to increase allocations to global developed equities over the next 12 months, compared with just 5% looking to cut. Family offices are also more likely to cut private credit than add to it, with the report pointing to default rates at a record 6%.

Gold is getting another look too: Nearly every client conversation now involves gold, Citi Wealth head Andy Sieg told Bloomberg. He said that wasn’t the case two years ago, and the bank is expanding its vault capacity to meet demand.

But private markets aren’t being shown the door: Around 26% of respondents plan to increase allocations to both direct private equity and private equity funds over the next year. Growth equity has the strongest pull within private equity, followed by VC, then secondaries, and finally buyouts.

Family offices in our region are among the most active private equity investors — but global family money isn’t flowing in: Respondents in Europe, the Middle East, and Africa led the increase in private equity allocations over the past year, with 43% raising their exposure against 30% in North America, and direct private equity tops their list of planned increases. Yet more than half of all respondents have no current or planned exposure to the Middle East, and just 3% plan to raise allocations to the region. Middle East-based family offices account for almost half of active private-capital investors in the region, according to BlackRock data we covered last week.

MARKETS THIS MORNING-

Asian markets were mixed in early trading, with Japan’s Nikkei rising around 0.2% and South Korea’s Kospi dipping 1.5%. MSCI’s broadest index of Asia-Pacific shares excluding Japan eased 0.2%. Wall Street was also mixed amid climbing oil prices and uncertainty around the regional war.

ADX	10,201	-0.1% (YTD: -1.1%)
DFM	5,980	-0.1% (YTD: -2.1%)
Nasdaq Dubai UAE20	4,964	+0.2% (YTD: +1.5%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	3.8% o/n	5.1% 1 yr
TASI	10,682	+0.8% (YTD: +1.8%)
EGX30	53,032	-1.4% (YTD: +26.8%)
S&P 500	7,743	+0.5% (YTD: +13.1%)
FTSE 100	10,695	+0.1% (YTD: +7.7%)
Euro Stoxx 50	6,302	+0.5% (YTD: +8.7%)
Brent crude	USD 106.31	+1.9%
Natural gas (Nymex)	USD 3.05	-4.7%
Gold	USD 4,299	-0.5%
BTC	USD 84,370	-0.1% (YTD: -3.7%)
Lunate JP Morgan UAE Bond UCITS ETF	AED 3.59	+1.1% (YTD: -1.0%)
S&P MENA Bond & Sukuk	147.61	-0.3% (YTD: -2.8%)
VIX (Volatility Index)	14.87	-5.1% (YTD: -0.5%)

THE CLOSING BELL-

The DFM fell 0.1% on Friday on turnover of AED 488.1 mn. The index is down 2.1% YTD.

In the green: Dubai Islamic Ins. and Reinsurance Co. (+6.1%), Drake & Scull International (+2.7%), and Mashreqbank (+2.5%).

In the red: Talabat Holding (-2.6%), Islamic Arab Ins. Company (-2.3%), and National Central Cooling Co. (-1.7%).

Over on the ADX, the index fell 0.1% on turnover of AED 1.1 bn. Meanwhile, Nasdaq Dubai was up 0.2%.

CALENDAR

SEPTEMBER

26 September-1 October (Saturday–Thursday): UN Congress on Crime Prevention and Criminal Justice, Adnec Center, Abu Dhabi.

28-29 September (Monday-Tuesday): Al Ain Future Business Forum, Adnec, Al Ain, Abu Dhabi.

29-30 September (Tuesday-Wednesday): AFCM Annual Conference, Abu Dhabi.

OCTOBER

1-2 October (Thursday-Friday): MEIRA Annual Conference, Atlantis the Royal, Dubai.

4-10 October (Sunday-Saturday): World Space Week, Abu Dhabi.

5-7 October (Monday-Wednesday): AI Everything Global, Adnec Center, Abu Dhabi.

12-14 October (Monday-Wednesday): Airport Show, Dubai World Trade Center, Dubai.

14-15 October (Wednesday-Thursday): Sharjah Investment Forum, Jawaher Reception and Convention Center, Sharjah.

13-15 October (Tuesday-Thursday): Annual Meeting of Global Future Leaders, Dubai.

20-22 October (Tuesday-Thursday): Future Health Summit, Adnec Center Abu Dhabi.

21 October (Wednesday): Reuters NEXT Gulf, St. Regis Saadiyat Island Resort, Abu Dhabi.

27-28 October (Tuesday-Wednesday): Arab Competition Forum, Dubai.

27-28 October (Tuesday-Wednesday): Federal Open Market Committee (FOMC) meeting.

30 October (Friday): Large businesses achieving annual revenues equal to or above AED 50 mn must appoint an accredited service provider for e-invoicing implementation.

Signposted to happen sometime in October 2026:

Abu Dhabi Space Week, Abu Dhabi.

NOVEMBER

2-5 November (Monday-Thursday): Adipec, Adnec Center, Abu Dhabi.

2-6 November (Monday-Friday): Dubai Future Finance Week, Dubai.

4 November (Wednesday): Digital Transformation Summit, Sofitel, Abu Dhabi.

9-10 November (Monday-Tuesday): Annual government meetings, Abu Dhabi.

9-12 November (Monday-Thursday): EMEA Council on Hotel, Restaurant and Institutional Education Conference, Dubai College of Tourism, Dubai.

9-13 November (Monday-Friday): World Congress of Military Medicine, Adnec Center, Abu Dhabi.

10-12 November (Tuesday-Thursday): Dubai International Electric Vehicle Exhibition & Conference, Dubai World Trade Center.

16-18 November (Monday-Wednesday): World Police Summit, Dubai World Trade Center, Dubai.

18-19 November (Wednesday-Thursday): Touchdown Middle East 2026, Conrad Abu Dhabi Etihad Towers, Abu Dhabi.

25-26 November (Saturday-Sunday): Doers Summit, Dubai Silicon Oasis, Dubai.

DECEMBER

2-4 December (Wednesday-Friday): UN Water Conference, UAE.

4-6 December (Friday-Sunday): Formula 1 Abu Dhabi Grand Prix, Abu Dhabi.

8-9 December (Tuesday-Wednesday): Capital Market Summit, Madinat Jumeirah, Dubai.

8-9 December (Tuesday-Wednesday): Federal Open Market Committee (FOMC) meeting.

7-10 December (Monday-Thursday): Abu Dhabi Finance Week, Al Maryah Island, Abu Dhabi.

8-10 December (Tuesday-Thursday): Abu Dhabi Water & Power Week, Adnec Center, Abu Dhabi.

8-10 December (Tuesday-Thursday) Middle East & North Africa Business Aviation Association Show, DWC, Dubai Airshow Site.

Signposted to happen sometime in 2027:

1 January: Deadline for large businesses to implement e-invoicing;
1Q 2027: Completion of the first phase of Hassyan seawater desalination project;
1-3 February (Monday-Wednesday): World Governments Summit;
31 March: Small businesses with annual revenues of less than AED 50 mn are obliged to contract with an accredited service provider for e-invoicing implementation;
31 March: Government entities are required to appoint an accredited service provider for e-invoicing implementation;
21-22 April (Wednesday-Thursday): Token2049, Dubai;
31 May-2 June (Monday-Wednesday): RailX Dubai, Dubai World Trade Center, Dubai.
1 July: Deadline for small businesses to implement e-invoicing;
1 October: Deadline for governments to implement e-invoicing;
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 in 2028:

Artificial Intelligence Summit.

Signposted to happen sometime in 2029:

Sibos 2029 organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), Dubai;
Annual Meetings of the World Bank Group and the International Monetary Fund, Abu Dhabi;
The commissioning of the seventh phase of Mohammed bin Rashid Al Maktoum Solar Park.

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