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OCTOBER

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 Med, 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;
• 14-17 January (Thursday-Sunday): MOC27 Motor, Outdoor & Camping Festival, Dubai Sevens Stadium, Dubai.
• 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.

OCTOBER

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 Med, 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;
• 14-17 January (Thursday-Sunday): MOC27 Motor, Outdoor & Camping Festival, Dubai Sevens Stadium, Dubai.
• 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.

Oil lit the fuse on the Treasury selloff, but it isn’t what Wall Street expects to keep yields high. The benchmark 10-year has climbed almost 120 bps this year to 5.29%, close to its highest level since 2002, and Pimco’s Dan Ivascyn tells the Financial Times that 6% — a level unseen since 2000 — isn’t a far-off scenario. A Wall Street Journal survey shows economists expect oil to drop below USD 80 / bbl by July and inflation to cool to 2.3% by the end of 2027, yet they see the 10-year still near 4.8% by then. That’s half a point above what they forecast in July.

The oil shock is expected to pass, but the higher cost of US borrowing isn’t. Forecasters now see the 10-year ending this year at 5.1%, up from 4.4% in July, which they attribute to a mix of drivers that has little to do with the oil price. The fiscal picture keeps worsening, with interest on the national debt now exceeding military spending. The AI infrastructure build-out is soaking up capital, and the growth outlook has firmed, with 2026 GDP now seen at 2.4%, up from 2.1% in July.

The Fed has also turned hawkish, raising rates last month for the first time in three years and projecting rates above 4% through 2027. Northern Trust’s Carl Tannenbaum concedes that an end to the Iran war would ease some pressure on yields. Debt worries and AI-driven capital demand would remain, however, and he sees the 10-year at 5.2% through 2028. Decision Economics’ Allen Sinai calls it “a sea change in the fundamentals.” He expects yields near 6% next year and above 5% for the rest of the decade.

The near-term danger is positioning. Oil-driven inflation fears started the selling. What could carry yields to 6% is forced selling, according to Ivascyn. Platform hedge funds and other leveraged players are being stopped out of losing bond bets. Their exits push yields to levels that trigger further selling from holders like REITs, the “vicious loop” investors have been warning about for weeks. 3Q was already the Treasury market’s worst quarter this century.

Where it starts to hurt: Ivascyn draws the line at 5.5%. Beyond it, he expects “decent weakness in risk markets,” in both credit and equities, even with US indices near record highs. The strain is already showing in the weakest borrowers, with junk bond yields hitting 17% this month, the highest since May 2020. US households are feeling it too, weeks before the midterms, as the 30-year mortgage rate reaches 7.4%, a high not seen since 2023. Ivascyn also expects slow-motion trouble in private markets, where commercial real estate and other fragile capital structures are most exposed. Washington’s planning hasn’t caught up. The Congressional Budget Office’s February baseline assumed the 10-year wouldn’t top 4.3% this decade, and the White House budget office sees yields falling into the mid-3% range.

What could cap it: Yields this high eventually draw buyers looking to lock in returns, and this week’s 10- and 30-year auctions saw robust demand. Ivascyn also argues there’s no need to be all-in on US paper. He points to Australia, the UK, Canada, and Germany as offering attractive yields with better fiscal starting positions.

MARKETS THIS MORNING-

Asian markets were mixed in early trading. South Korea’s Kospi was down around 2.2%, and MSCI's broadest index of Asia-Pacific shares outside Japan was largely flat. Japanese markets are closed today.

THE CLOSING BELL-

The DFM rose 0.3% on Friday on turnover of AED 642.5 mn. The index is down 3.8% YTD.

In the green: Islamic Arab Ins. Company (+3.7%), Dubai Islamic Ins. and Reins. Co. (+2.6%), and Al Firdous Holdings (+2.4%).

In the red: Unikai Foods (-5.0%), Emirates Reem Investments Company (-2.7%), and ENBD REIT (CEIC) (-2.5%).

Over on the ADX, the index fell 0.1% on turnover of AED 949.4 mn. Meanwhile, Nasdaq Dubai was up 0.3%.

Adia drops another anchor in India

Abu Dhabi Investment Authority (Adia) is weighing an anchor ticket in Indian manufacturing platform Zetwerk’s planned IPO, which could value the company at USD 3.1 bn (INR 270 bn), Livemint reports, citing two sources it says are familiar with the matter. Adia is among more than 30 investors considering participation, including Norway’s Norges Bank, BlackRock, Goldman Sachs Asset Management, and HDFC Asset Management. The firm is expected to announce its price band today, with the offer set to open within weeks.

Zetwerk? Founded in 2018, Bengaluru-based Zetwerk runs a platform that connects manufacturers with businesses across sectors including renewables, electronics, defense, aerospace, and AI infrastructure.

REMEMBER- Adia anchored three of India’s biggest listings this year: SBI Funds Management, Manipal Health, and the National Stock Exchange. Zetwerk would add a manufacturing platform to the sovereign fund’s exposure to India’s energy and industrial supply chain, after it anchored solar panel maker Emmvee’s IPO in late 2025 and joined share placements by renewables developer Acme Solar and precision equipment manufacturer KRN earlier this year.

Nextgen moves global HQ to the UAE

UK-born AI consultancy Nextgen is packing up its global headquarters and relocating to the UAE, Albayan reports. The firm chose the UAE for its high AI adoption rates and practical deployment, rather than developing tech alone.

What is Nextgen? Founded in 2012, Nextgen has over 75 experts across five offices and serves more than 50 major corporate and institutional clients — helping develop and operate more than 200 practical AI applications, including for government agencies and organizations operating under strict regulatory requirements.

KSA, UAE agree on rail link

Riyadh and Abu Dhabi signed a preliminary agreement on rail links and electricity interconnection, according to The National, with UAE Investment Minister Mohamed Alsuwaidi and Saudi Energy Minister Prince Abdulaziz bin Salman putting their names to it in Riyadh. It sets a framework for moving goods and cargo by rail across the border, commissions feasibility studies on linking the two networks, covers cooperation on exchanging and selling power, and provides for coordination with the rest of the GCC on the wider Gulf grid. There are no figures, timelines, or named projects in the agreement, which comes 10 days after Sheikh Mansour’s visit to Riyadh reopened the conversation.

Abu Dhabi lines up AED 150 bn+ of new projects and initiatives

Government entities, investors, developers and tech companies announced more than 50 agreements and initiatives worth over AED 150 bn at Abu Dhabi's inaugural LIVEX, spanning infrastructure, real estate, mobility and urban tech, according to an Abu Dhabi Media Office statement.

On infrastructure: The Department of Municipalities and Transport (DMT) launched the Musaffah Innovation District, unveiled plans for phase two of the 14.5 km Mid-Island Parkway linking Abu Dhabi's central islands with the E-10 and Khalifa City, and rolled out a portal for investors to assess government-owned land and built assets. Al Ain also got a new long-term planning framework running to 2040.

On tech: Abu Dhabi Mobility launched an AI platform for transport planning. DMT and e& are trialling sensor- and AI-based flood monitoring in Al Ain, and signed DMT's first drone-as-a-service agreement covering traffic, inspections and construction monitoring. Other agreements cover smart parking at Etihad Rail stations, autonomous mobility and real estate development.

What to watch is delivery: The Media Office says the agreements will now move toward implementation, against a wider pipeline of AED 450 bn in committed infrastructure investment across the emirate. That comes as UAE contractors are growing warier of locking in prices on long-term projects amid rising material costs.

Taaleem’s net income fell 22% y-o-y to AED 127.2 mn in FY 2025/26, while operating revenue rose 15.6% to a record AED 1.3 bn, according to the company’s financials (pdf). Higher financing and depreciation costs tied to its expansion program outweighed stronger enrollment across its premium schools, Taaleem said in its earnings release (pdf). Most of the decline came during the summer: Taaleem's net income was up 9% at AED 283.2 mn after nine months, as we reported in July.

Premium schools remained the growth engine, with enrollment climbing 11.1% to 18.6k students, slightly outpacing a 10.5% increase in capacity, and average tuition fees rising 3.7%. Newer campuses still have room to fill, with 61% of available premium-school seats concentrated at DBS Mira, DBS Jumeira, and Raha International School Khalifa City.

KFG took the bigger hit from the conflict: Kids First Group (KFG) contributed an AED 4.3 mn share of net loss following purchase-price adjustments as nursery enrollment fell 6.6% and utilization dropped to 72.6%. The segment was more exposed because remote learning is harder for early-years education and parents pay monthly — the same pressure point we flagged in July. Enrollment has since continued to recover after reopening.

The next wave of capacity is already landing: Harrow Dubai opened at the end of August with around 400 registered students, ahead of its roughly 370-student business plan — after Taaleem told us in August it had hit its enrollment target despite the regional disruption. Harrow Abu Dhabi is due in the 2027/28 academic year, followed by DBS Ghaf Woods in 2028/29. Taaleem is also putting AED 1.5-2 bn toward growth, with five to six potential M&A targets lined up for KFG, as we’ve previously reported.

There’s growth headroom without another major buildout too: Dubai Schools PPP enrollment jumped 35.1% to 4.5k students, but utilization remains at just 46.3% across its 9.7k seats — leaving plenty of capacity to fill before Taaleem needs to add more.