Good morning, friends, and welcome to a rather packed hump day issue. Let’s get right to it, but first, a programming note:

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THE BIG STORY here at home this morning is the World Bank’s Global Economic Prospects report, in which the bank has revised upwards its growth projections for the UAE this year and next.

^^ We have chapter and verse on this story and more in this morning’s news well, below.

You have just five days until the World Economic Forum gets underway in Davos, spewing influencer nonsense all over your newsfeed. Reps of more than 100 governments, 1k paid corporate partners, along with other business leaders, entrepreneurs, and civil society types (does anyone use that word anymore? “Civil society?”) are set to attend.

This year’s theme is “rebuilding trust,” organizers say, adding, “The programme embodies a ‘back to basics’ spirit of open and constructive dialogue between leaders of government, business and civil society.” Job creation, AI (which … kind of stands in opposition to the former?), and “long-term strategy for climate, nature and energy” get plenty of attention on the teaser agenda.

Mubadala completes secondary listing of bonds on ADX:Mubadala Investment Company, through its issuing entity Mamoura Diversified Global Holding (MDGH), listed its USD 4.5 bn USD-denominated and AED 750 mn AED-denominated bonds in a secondary listing on the ADX, Wam reports. The listing includes Mubadala’s oversubscribed debut green bond and its first-AED-denominated bond.

Background:The company listed the bonds on the London Stock Exchange on Monday. The bonds include USD 4.8 bn senior unsecured green notes, issued on 25 October 2023, with a fixed interest rate of 5.875% and a tenor of 10.5 years. The second issuance is AED 750 mn in senior unsecured notes, issued on 8 November 2023, and have a fixed interest rate of 5.650% and a tenor of 5 years.

Emirates Airlines President not surprised by Boeing malfunction: “They’ve had quality control problems for a long time now, and this is just another manifestation of that,” Tim Clark told Bloomberg after a piece of fuselage from a Boeing 737 Max 9 blew off during an Alaska Airlines flight last week. Following the incident, United Airlines said it found loose bolts and other issues on its grounded 737 Max planes following safety checks after. Clark associated Boeing’s blips to management decisions, the relocation of the company’s head office and offshoring the 787 fleet; however, he said that the issue is “salvageable.”

No Boeing 737 Max 9s flying in the UAE: The UAE’s General Civil Aviation Authority (GCAA) says none of the UAE’s national carriers currently operate any Boeing 737 MAX 9 aircraft, following news the US Federal Aviation Administration has grounded over 170 Boeing 737 Max 9s, state news agency Wam reports.

Separately, the government has banned oil tankers flying Cameroon’s flag from arriving at Emirati ports due to safety worries, Bloomberg reports. The decision follows an energy and infrastructure circular at the beginning of the month, which prohibited Cameroonian vessels due to concerns that many of the ships have been assembled to transport sanctioned Russian oil.

WATCH THESE SPACES-

#1- Dubai Crown Prince and Chairman of its Executive Council Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum approved several new development projects in Hatta, including a neighborhood council, a private school, and the location and design of its artificial beach, the crown prince said in a statement. No financial details or timeline for the completion of the projects were announced.

The details are scarce: The school will have the capacity for 700-1k students, Sharjah 24 reports, without clarifying who is responsible for its operations and management. The council will be set up to boost social interaction among residents, and will include a multi-purpose main hall, service facilities, and administrative offices, the outlet adds, citing statements from General Coordinator for Infrastructure, Urban Planning, and Wellbeing Rashid Mohammed Al Sheikh. Finally, the beach will stretch over a 10k sqm plot alongside an artificial lake, the outlet reports.

#2- Pakistan is seeking a second rollover on its USD 2 bn loan from the UAE, PakistanObserver reports. The UAE previously rolled over the loan and lent it an additional USD 1 bn in January 2023. Of the total USD 3 bn, USD 1 bn is due on 17 January, with another USD 1 bn due on 23 January.

#3- Winter tourism is getting its day in the sun: Vice President Sheikh Mohammed bin Rashid Al Maktoum launched the UAE’s seasonal winter tourism campaign, the “World’s Coolest Winter,” for the year to promote tourism across the Emirates, with an eye to increase the tourism sector’s contribution to AED 450 bn of total GDP by 2031, the VP said. Under the theme “Unforgettable Stories,” the fourth edition of the campaign will feature various environmental, sporting, and leisure activities held at key cultural and outdoor locations.

#4- Find out how the labor market is doing: The Human Resources and Emiratisation Ministry launched the UAE Labour Market Observatory, providing periodic data on competitiveness indicators of the labor market and the outputs of labor market regulations, Wam reports. The platform will be regularly updated and comes in a bid to boost market competitiveness.

#5- Dubai’s Museum of the Future is getting an AED 100 mn research center, TheNational reports. The inauguration of the center came during the Great Arab Minds Ceremony at the museum.

ALSO-VP Sheikh Mohammed bin Rasif honored six Arab scientists and intellectuals as inaugural winners. Hani Negm was recognized for his work in medicine; Fadel Adeeb for his work in engineering and tech; Mohamed El Erian for economics, Nevin Khashab for natural sciences, Lina Al Ghatma for Architecture/Design, and Wasini Al Araj for arts and literature. President Mohammed bin Rashid also gave the awardees some ink on X.

PUBLIC SERVICE ANNOUNCEMENTS-

#1- Khalifa Fund is going fully digital: Abu Dhabi’s interactive advisory platform is shutting down its Sharjah, Ajman, Ras Al Khaimah, and Fujairah branches and transitioning its services to the TAMM platform, according to a press release. TAMM will handle funding requests, loan disbursement, amendments and reallocations, training and membership requests, support letters, and communication facilitation. The fund’s headquarters will remain open for management and internal operations.

The digital step breaks geographical barriers, making Khalifa’s services available to entrepreneurs and SMEs across the UAE. The move is also expected to slash waiting times for requesting and receiving services.

#2- Calling for Dubai street name ideas: The Dubai Road Naming Committee is introducing a new standard for naming internal roads, taking over the previous name and number methodology for road identification, Khaleej Times reports. The committee will now name roads after cultural elements, like local trees and flowers, and is accepting proposals from residents.

Some inspiration: Newly named streets include Al Ghaf Street, Al Sidr, Basil, Al Faghi, Al Samr, and Al Sharish.

#3- People of determination can now book taxis through the Dubai Taxi Company (DTC) and get 50% off, according to a Dubai Media Office statement. The service, tailored for those with non-motor disabilities, is accessible to Sanad cardholders in Dubai, the statement reads.

THE BIG STORY ABROAD-

France gets its youngest-ever prime minister: President Emmanuel Macron yesterdaynamed 34-year-old French Education Minister Gabriel Attal as the country’s new prime minister, as Macron looks to face growing political pressure from the far right just months ahead of European Parliament elections. Attal’s appointment gives France its youngest-ever prime minister. (Reuters | Bloomberg | New York Times | Associated Press | BBC | CNN)

CIRCLE YOUR CALENDAR-

The 1 Bn Followers Summit istaking place today and tomorrow at the Emirates Towers and the Museum of the Future in Dubai. The event features morethan 20 workshops on social media management skills, from creativity, to monetisation strategies, to platform growth, Wam reports.

Falcon championship to kick off on Friday: The Abu Dhabi Falconers Club will host the president’s 16-day Cup Falcon Competition, which will kick off this Friday and run until 27 January at Abu Dhabi’s Al Falah Field, Wam reports.

The Dubai International Project Management Forum (DIPMF) will be coming to the Madinat Arena in Madinat Jumeirah between 15-18 January (Monday-Thursday). DIPMF 2024 will focus on three topics: Sustainability, modern methods of project management, and future trends and technology, GDN reported.

iFX EXPO Dubai 2024 kicks off next week: The three-day fintech and online trading expo iFX EXPO Dubai 2024 starts on 16 January at the Dubai World Trade Centre. Check out the full agenda here.

Sharjah Entrepreneurship Center calls for 2024 SEFFY nominees: The Sharjah Entrepreneurship Festival (SEF), organized by the Sharjah Entrepreneurship Center (Sheraa), has launched the 2024 SEFFY Awards to recognize impactful startup founders and mentors for their achievements throughout 2023, Wam reports. You can submit your nomination here by 18 January. The results will be out on 3 and 4 February.

Calling all classic car enthusiasts: Sharjah is set to host its inaugural Classic Car Festival from 2-4 February.The festival will showcase vintage vehicles and offer educational and entertainment activities, state news agency Wam reports. Organized by the Sharjah Old Car Club, the event is set to be the largest vintage car gathering in the UAE and the region.

The World Trade Organization (WTO) Ministerial Conference is set to take place in Abu Dhabi from 26-29 February, hosted by the Abu Dhabi Department of Economic Development and Economy Ministry at ADNEC. The gathering will convene ministers and delegates from the WTO’s 164 member states. The conference will be chaired by Foreign Trade Minister Thani bin Ahmed Al Zeyoudi.

The region’s first hedge fund summit will take place on 15 May,organized by Dubai International Financial Centre (DIFC) and With Intelligence’s hedge fund arm HFM, according to a press release. The invitation-only HFM Summit comes after DIFC authorized global hedge funds in 4Q 2023, including Asia Research & Capital Management, Brevan Howard, and Lighthouse Partners. It will include content sessions, interactive roundtables, and networking activities.

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