{"id":104083,"date":"2025-05-28T00:00:00","date_gmt":"2025-05-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=104083"},"modified":"2025-12-15T03:53:38","modified_gmt":"2025-12-15T03:53:38","slug":"abu-dhabi-set-for-2-5-growth-this-year-plus-more-local-banks-pile-into-formosa-bonds","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/abu-dhabi-set-for-2-5-growth-this-year-plus-more-local-banks-pile-into-formosa-bonds\/","title":{"rendered":"Abu Dhabi set for 2.5% growth this year. PLUS: More local banks pile into Formosa bonds"},"content":{"rendered":"<section id=\"104085\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"104085\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/this-morning-taqa-eyes-acquisitions-in-the-us-bin-butti-joins-race-for-italian-refiner-ip\/\">\r\n                            THIS MORNING: Taqa eyes acquisitions in the US + Bin Butti joins race for Italian refiner IP                        <\/a>\r\n                    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has-post-thumbnail hentry category-what-were-tracking-today tag-abu-dhabi-investment-authority tag-aiq tag-artificial-intelligence tag-banking tag-central-bank-of-the-uae tag-dubai-holding tag-enterpriseam-uae tag-human-resources-and-emiratisation-ministry tag-infrastructure tag-ma tag-oil-and-gas tag-opec-2 tag-openai tag-presight-holdings tag-renewables tag-space tag-taqa tag-trade tag-uae-india-relations tag-uae-south-africa-ties tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.928155ff-b49e-480a-8a80-1343ed957796.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends, and happy hump day. <\/strong>It\u2019s still relatively quiet on the home front this morning as we inch closer towards the weekend, and towards a very welcome shortened workweek\u2026<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s official \u2014 Eid Al Adha is expected to fall on Friday, 6 June<\/strong>, the UAE\u2019s moon sighting committee confirmed yesterday, meaning our public holiday will most likely begin on Thursday for Arafat Day and last until Sunday, 8 June. We\u2019ll be waiting for confirmation on the public holiday for the private and public sectors from the Human Resources and Emiratization Ministry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The big story at home today is S&P Global\u2019s forecast for Abu Dhabi\u2019s economy this year<\/strong> \u2014 which it sees growing 2.5%, on the back of increased oil production and structural reforms. <strong>Plus: Abu Dhabi Commercial Bank <\/strong>eyes second <strong>USD 600 mn Formosa bond<\/strong> sale this year, Sports consulting firm <strong>Elevate<\/strong> acquires Dubai-based<strong> Rise<\/strong> <strong>Group<\/strong>, and <strong>Adnoc Drilling<\/strong> lands a <strong>USD 1.15 bn offshore rig contract<\/strong>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>\u26c5\ufe0fWEATHER<\/strong><strong>- Hot days, humid nights:<\/strong> Dubai will see daytime highs of 40\u00b0C and overnight lows of 30\u00b0C today, while Abu Dhabi is set for a high of 34\u00b0C and an overnight low of 29\u00b0C. Humidity levels are expected to reach 73% in Dubai and 77% in Abu Dhabi overnight, potentially leading to fog in some inland and coastal areas, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/2247.pdf\" style=\"\" rel=\"noopener\">National Center of Meteorology (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FACT <\/strong><strong>CHECK- No, ChatGPT Plus is not gratis for all UAE residents: <\/strong>Recent headlines claiming that all UAE residents now have access to ChatGPT Plus for no charge are inaccurate, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/business\/markets\/is-openai-giving-chatgpt-for-free-to-all-uae-residents-know-whats-true-1.500141497\" style=\"\" rel=\"noopener\">Gulf News<\/a> reports. While OpenAI <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9e9721a7-9b81-43d6-8010-2cba5e142991\/g42-to-develop-stargate-uae-alongside-us-ai-powerhouses\" style=\"\" rel=\"noopener\">confirmed a partnership with Abu Dhabi\u2019s G42<\/a> last week to roll out Stargate UAE, neither the announcement nor other official statements mention complimentary personal subscriptions to the premium ChatGPT services, despite what\u2019s on the rumor mill.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s actually happening: <\/strong>The UAE will become the first country to enable nationwide ChatGPT access, meaning OpenAI tools will be integrated into sectors like government services, healthcare, and education. While residents may interact with ChatGPT through public platforms and through the no-charge version, ChatGPT Plus, which includes GPT-4 access, still comes with a USD 20 per month price tag for now.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>Stargate UAE is part of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/83962672-34d6-4fa0-9c03-2159613a897a\/inside-trump%25e2%2580%2599s-usd-500-bn-ai-project%253cmark%253e-stargate%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">USD 500 bn AI infrastructure initiative<\/a> led by OpenAI, G42, Oracle, and SoftBank, and is the first international deployment of Stargate\u2019s infrastructure. The Abu Dhabi-based cluster will deliver 1 GW of computing power, with the first phase expected to go live in 2026.<\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- <\/strong><strong>S<\/strong><strong>tate-owned Abu Dhabi National Company Taqa is eyeing acquisitions globally<\/strong><strong>, with <\/strong><strong>a strong focus on the US market<\/strong>, CEO Jasim Husain Thabet told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/abu-dhabis-taqa-eyes-acquisition-opportunities-key-us-market-2025-05-27\/\" style=\"\" rel=\"noopener\">Reuters<\/a> in an interview. Calling the US a \u201ckey market,\u201d Thabet said the company is particularly interested in acquiring a fully integrated utility with generation assets and a \u201cpipeline of growth.\u201d Last year Taqa\u2019s Masdar acquired <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/daf7a451-36ab-49f6-8a1a-2504074fd65a\/%253cmark%253emasdar%253c%2Fmark%253e-to-acquire-50%2525-of-us-renewable-energy-producer\" style=\"\" rel=\"noopener\">a 50% stake<\/a> in one of the largest independent renewable energy producers in the US, Terra-Gen.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> Taqa is looking to ramp up its capacity to 150 GW by 2030, up from 56 GW today, with USD 20 bn earmarked for expansion. The UAE is also looking to ramp up energy investments in the US, with investments set to come in at <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/806a2311-dc35-476d-9cd6-8216da1f3d23\/breakdown-of-the-uae-and-the-us%25e2%2580%2599-usd-60-bn-energy-investment-package\" style=\"\" rel=\"noopener\">USD 440 bn by 2035<\/a>, as part of a bigger <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/68b81674-7b11-40e3-b307-60580166aeca\" style=\"\" rel=\"noopener\">USD 1.4 tn<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/68b81674-7b11-40e3-b307-60580166aeca\" style=\"\" rel=\"noopener\">investment pledge<\/a> in the US. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s footing the bill:<\/strong> Taqa closed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7c940d4c-0f16-4056-aeb8-14ece610573a\/taqa-raises-usd-1.75-bn-from-dual-bond-sale\" style=\"\" rel=\"noopener\">a USD 1.75 bn<\/a> bond issuance late last year, but says it may return to the debt market if a major M&A transaction materializes despite not being under immediate pressure to raise more debt. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE-<\/strong> He also confirmed that talks to acquire a stake in Spain\u2019s Naturgy are officially off the table, contradicting a recent <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ed8f68f6-bcb1-4dd6-a383-2fc73af1569d\/this-morning:-taqa-revives-talks-for-a-stake-in-spanish-gas-producer-and-renewables-firm%253cmark%253e-naturgy%253c%2Fmark%253e--report-%2B-global-energy-demand-grew-2.2%2525-in-2024\" style=\"\" rel=\"noopener\">Bloomberg report<\/a> that hinted at renewed negotiations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt3\"><\/a> <strong>#2-<\/strong><strong> Abu<\/strong><strong> Dhabi\u2019s Bin Butti joins race for Italian refiner IP: <\/strong>Abu Dhabi-based diversified conglomerate <a target=\"_blank\" href=\"https:\/\/binbuttigroup.com\/\" style=\"\" rel=\"noopener\">Bin Butti Group<\/a> is lining up a binding offer for Italian oil refiner <a target=\"_blank\" href=\"https:\/\/ip.gruppoapi.com\/en\/\" style=\"\" rel=\"noopener\">Italiana Petroli (IP)<\/a>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/socar-gunvor-bin-butti-bid-refiner-italiana-petroli-sources-say-2025-05-27\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing people it says are familiar with the matter. The potential transaction \u2014 for which IP tapped UniCredit as its advisor \u2014 could value IP at EUR 2.3-2.5 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bids are expected next week<\/strong>, with other bidders including State Oil Company of Azerbaijan (SOCAR), along with global commodity traders Gunvor and Glencore. SOCAR is reportedly a frontrunner, while Bin Butti only recently joined talks, Italian outlet <a target=\"_blank\" href=\"https:\/\/www.repubblica.it\/economia\/2025\/05\/27\/news\/ip_gruppo_api_gara_offerte_socar_gunvor_bin_butti-424631185\/\" style=\"\" rel=\"noopener\">la Repubblica<\/a> reports, citing unnamed sources. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About IP: <\/strong>The refiner has a total refining capacity of 200k barrels a day, and a network of 4.6k fuel stations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#3- <\/strong><strong>The Ab<\/strong><strong>u Dhabi Investment Authority (Adia) is reportedly in late-stage discussions to <\/strong><strong>invest in Indian medical device maker <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.microlife.com\/\" style=\"\" rel=\"noopener\">Micro Life Sciences<\/a><\/strong>, as the company prepares for an IPO, <a target=\"_blank\" href=\"https:\/\/www.livemint.com\/companies\/micro-life-sciences-sees-interest-from-temasek-holdings-adia-11748262986731.html\" style=\"\" rel=\"noopener\">Mint<\/a> reports, citing sources it says are in the know. Singapore\u2019s Temasek Holdings is also expected to join the current fundraising round, which sources estimate to be in the range of USD 250\u2013300 mn. The IPO is likely to take place within 12 to 18 months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bids are expected next month<\/strong>, with investment firms currently individually evaluating the potential investment, one source said. Micro Life\u2019s expected valuation stands at approximately AED 28.6 bn \u2014 translating to over 40x its earnings before interest, taxes, depreciation, and amortization (EBITDA).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> <strong>Adia has been steadily ramping up its investments in India.<\/strong> Most recently, its subsidiary Platinum Invictus acquired a 5.10% stake in IDFC First Bank for around <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b6b93251-1b80-4acc-b16a-b1fea8182a07\/%253cmark%253eadia%253c%2Fmark%253e-picks-up-5%2525-of-india%25e2%2580%2599s-idfc-first\" style=\"\" rel=\"noopener\">USD 310 mn<\/a> (INR 26.2 bn) in April. The sovereign wealth fund also invested <a target=\"_blank\" rel=\"noopener\">USD 750 mn<\/a> in the debt of infrastructure firm GMR. In 1H 2024, Adia deployed nearly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6af9e6f1-e4b3-451b-ae02-7303f75731a8\/adgm%25e2%2580%2599s-registrations-were-up-31%2525-in-1h-2024-%2B%253cmark%253e-adia%253c%2Fmark%253e-doubled-down-on-indian-investments\" style=\"\" rel=\"noopener\">AED 3.67 bn<\/a> across Indian assets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#4- <\/strong><strong>DoE taps Pr<\/strong><strong>esight, AIQ to advance Abu Dhabi\u2019s digital energy infrastructure:<\/strong> The Abu Dhabi Energy Department (DoE) signed an MoU with Presight and AIQ to boost AI integration and digital transformation in the UAE\u2019s energy sector, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/government-news\/abu-dhabi-department-of-energy-signs-strategic-cooperation-agreement-with-presight-and-aiq-to-enhance-ai-solutions-and-digital-transformation-dzrtkew4\" style=\"\" rel=\"noopener\">press release<\/a>. The agreement includes the development of a new AI-powered control center platform that will provide live data analytics for energy and utility operations across Abu Dhabi. The platform will enable real-time insights and sector-wide performance monitoring, according to a separate <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/2256.pdf\" style=\"\" rel=\"noopener\">filing (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An \u201cAI Lab-as-a-Service\u201d model will also be developed under the agreement<\/strong>, enabling local energy firms to test, validate, and implement AI solutions across various applications, tailored to use across the energy value chain. The agreement also mandates the creation of the AD e-data hub \u2014 a sovereign data infrastructure that will serve as the central repository for all data governed by the DoE and affiliated sector companies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Adnoc-Presight JV AIQ also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/02014a03-0a29-4fe5-b237-fc4eacf7646c\" style=\"\" rel=\"noopener\">partnered<\/a> with World Wide Technology to advance AI in the global energy sector last year. The collaboration will streamline the transition from concept to large-scale implementation and expand AI innovation through their AI Lab as a Service program.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- <\/strong><strong>The <\/strong><strong>UAE<\/strong><strong> agreed to support South Africa\u2019s launch of a national satellite<\/strong>, state news agency <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/bjvaivq-strategic-partnership-south-africa-uae-advance\" style=\"\" rel=\"noopener\">Wam<\/a> quotes South African Deputy Communications and Digital Transformation Minister Mondli Gungubele as saying. No further details were disclosed on the type of support the UAE will offer or the timeline for their cooperation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong>The UAE and South Africa discussed teaming up on infrastructure <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e9627171-f5ec-4d90-bfc2-7301062a6744\/uae-and-egypt-target-tech,-healthcare-in-new-economic-partnership-talks\" style=\"\" rel=\"noopener\">earlier this year<\/a>, with ministers from both countries meeting to discuss smart cities, AI-driven solutions, and green building tech. Private Emirati firms have also been on a roll in South Africa, with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/992ea4dd-67ff-43d7-a5cc-0ba6efbb9ec1\/amea-power-lands-two-battery-energy-storage-projects-in%253cmark%253e-south-africa%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Amea Power<\/a> securing energy storage projects and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0105708b-2063-4650-be0d-8dcdd50be427\/make-it-in-the-emirates:-day-three-brings-defense,-maritime,-and-tech-partnerships\" style=\"\" rel=\"noopener\">Edge Group<\/a> set to cooperate with a local firm on vehicle production. Dubai International Chamber also opened <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/053c6728-cfb9-4fc9-b1fc-e0a89ac180c1\/e&-expands-to-the-americas-through-its-wholesale-unit\" style=\"\" rel=\"noopener\">a new office<\/a> in Cape Town earlier this month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- UAE and Philippines eye CEPA signing next month: <\/strong>The UAE and the Philippines plan to sign a trade and economic partnership agreement next month, Philippine news agency <a target=\"_blank\" href=\"https:\/\/www.pna.gov.ph\/articles\/1250932\" style=\"\" rel=\"noopener\">PNA<\/a> reports, citing officials. An agreement would mark the Philippines\u2019 first trade pact in the Middle East, officials confirmed last week.<\/p>\n<p class=\"tag-border-left\">DATA POINT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE\u2019s federal export credit company Etihad Credit Ins. (ECI) saw its insured turnover <\/strong><strong>reach <\/strong><strong>AED 16.2 bn in 2024<\/strong>, up 15.7% y-o-y, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/government-news\/etihad-credit-insurance-achieves-aed-162bln-in-insured-turnover-er2p9g8j\" style=\"\" rel=\"noopener\">press release<\/a> citing its annual report. The federal insurer saw strong demand from UAE exporters across 17 sectors, with over 60% of beneficiaries being SMEs. Key destinations for ECI-backed exports included Saudi Arabia, which accounted for 7% of total exports, alongside MENA countries, India, and Singapore.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Companies won\u2019t be penalized immediately if a UAE national resigns or if a co<\/strong><strong>ntract is terminated abruptly<\/strong>, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/uae\/government\/mohre-clarifies-grace-period-for-emiratisation-compliance-1.500141767\" style=\"\" rel=\"noopener\">Gulf News<\/a> reports, citing the Human Resources and Emiratisation Ministry (MoHRE). Employers will have a two-month grace period to recruit a replacement before financial penalties kick in. The same grace period applies if a UAE national hired at the start of the year doesn\u2019t complete a full year of work.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Emiratization checks for private sector companies are set to start on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ab46f094-d768-4059-a860-9779ab12d8f7\/this-morning:-banks-to-raise-minimum-balance-requirement-as-of-next-month\" style=\"\" rel=\"noopener\">1 July<\/a> through a digital inspection system. Companies with 50 or more employees must have a workforce of at least <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6f4d64b0-3ef4-4bf7-a2f9-6a8922e47d1b\/new-year,-new-laws,-taxes,-fees,-and-regulations\" style=\"\" rel=\"noopener\">7% Emiratis<\/a> by 30 June as part of the national mandate to hit 10% by the end of 2026.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt5\"><\/a> <strong>#2-<\/strong><strong> No minimum balance hike for bank accounts \u2014 for now: <\/strong>The Central Bank of the UAE (CBUAE) has issued a circular ordering banks to suspend a planned increase in the minimum balance requirement until further notice, <a target=\"_blank\" href=\"https:\/\/www.alkhaleej.ae\/2025-05-27\/%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%8A%D8%B9%D9%84%D9%82-%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D8%A7%D9%84%D8%AD%D8%AF-%D8%A7%D9%84%D8%A3%D8%AF%D9%86%D9%89-%D9%84%D9%84%D8%B1%D8%B5%D9%8A%D8%AF-5933811\/%D8%A3%D8%B3%D9%88%D8%A7%D9%82-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA\/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\" style=\"\" rel=\"noopener\">Al Khaleej<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong>Banks were <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ab46f094-d768-4059-a860-9779ab12d8f7\/this-morning:-banks-to-raise%253cmark%253e-minimum-balance%253c%2Fmark%253e-requirement-as-of-next-month\" style=\"\" rel=\"noopener\">set to raise the threshold to AED 5k<\/a>, up from AED 3k, starting 1 June, under updated Central Bank regulations tied to personal loan eligibility. The change would have triggered monthly fees of AED 25-105 for non-compliant accounts. <a target=\"_blank\" href=\"https:\/\/www.alkhaleej.ae\/2025-04-27\/%D8%A8%D9%86%D9%88%D9%83-%D8%AA%D9%81%D8%A7%D8%AC%D8%A6-%D8%B9%D9%85%D9%84%D8%A7%D8%A1%D9%87%D8%A7-%D8%A8%D8%B1%D8%B3%D9%88%D9%85-%D8%B9%D9%84%D9%89-%D8%AD%D8%B3%D8%A7%D8%A8%D8%A7%D8%AA-%D9%85%D8%AC%D8%A7%D9%86%D9%8A%D8%A9-5887246\/%D8%A3%D8%B3%D9%88%D8%A7%D9%82-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA\/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\" style=\"\" rel=\"noopener\">Al Khaleej<\/a> earlier reported that some banks had already begun charging monthly fees of up to AED 26.25 for failing to meet minimum balance requirements. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What now?<\/strong> No new timeline has been announced, and it remains unclear whether the policy will be revised or scrapped entirely.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> HAPPENING TODAY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2025\/may\/20-05\/arab-media-summit-2025-to-welcome-influential-voices-from-across-the-region-and-beyond\" style=\"\" rel=\"noopener\">Arab Media Summit<\/a><\/strong><strong> is on its third and final day <\/strong>at the World Trade Center in Dubai. Sessions will discuss public media, strategies for collaboration with the private sector, public communication, and digital platforms.<strong> The inaugural <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2025\/may\/23-05\/dubai-films-and-games-commission-announces-the-inaugural-film-and-gaming-forum\" style=\"\" rel=\"noopener\">Film and Gaming Forum<\/a><\/strong><strong> will take place<\/strong> as part of the summit, in a bid to spotlight the region\u2019s creative economy, with a focus on digital storytelling, gamification, and women-led content. The forum will explore shifts in tech integration, new media formats, and talent development.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Dubai Chamber of Commerce is on a trade mission<\/strong> <strong>to the Philippines<\/strong><strong> and Thailand that will last until Friday<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/bjswrtb-dubai-chamber-commerce-organises-trade-mission-the\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The delegation will include representatives of companies operating in sectors like food and beverages, automotive, and electronics, who will participate in meetings and sessions with their counterparts in Thailand and the Philippines to explore collaboration prospects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.worldutilitiescongress.com\/\" style=\"\" rel=\"noopener\">World Utilities Congress<\/a><\/strong><strong> is on its second day<\/strong>, and will be running until Thursday at the Adnec Center in Abu Dhabi. The conference will gather global decision-makers, utilities executives, and technology leaders to explore how innovation is shaping the future of energy and water sectors. This year\u2019s edition will spotlight tech-driven solutions for improving energy and water security, and advancing decarbonization.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.adnecalain.ae\/en\/eventlisting\/emirates-agriculture-conference-and-exhibition-2025\" style=\"\" rel=\"noopener\">Emirates Agriculture Conference and Exhibition 2025<\/a><\/strong><strong> kicks off today and runs<\/strong><strong> until Saturday <\/strong>at the Dubai World Trade Center, bringing together policymakers, researchers, and industry leaders to explore the future of sustainable farming in the UAE. The event will tackle themes including climate-smart agriculture, water scarcity, food security, and agritech innovation. There will also be a market selling locally-made produce and exhibitions for agricultural technology.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.indexexhibition.com\/\" style=\"\" rel=\"noopener\">INDEX<\/a><\/strong><strong>, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.workspaceexhibition.com\/\" style=\"\" rel=\"noopener\">Workspace<\/a><\/strong><strong>, and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.thehotelshow.com\/\" style=\"\" rel=\"noopener\">The Hotel Show<\/a><\/strong><strong> exhibitions are on their second day<\/strong>, and run until tomorrow at the Dubai World Trade Center. Workspace will bring together over 33k visitors and more than 920 exhibitors, will showcase new technologies and interior designs for office spaces and commercial real estate. Index and The Hotel Show showcase innovations in interior design, architecture, and hospitality, and connect buyers with exhibitors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- <\/strong><strong>Dubai <\/strong><strong>Residential REIT begins trading on the DFM today under the ticker<\/strong> <strong>DUBAIRESI<\/strong>. Dubai Holding\u2019s REIT raised <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fa1bcba8-80bf-4974-a750-2eaa58975bef\/%253cmark%253edubai%253c%2Fmark%253e-holding-raises-aed-2.1-bn-from%253cmark%253e-residential%253c%2Fmark%253e-reit-ipo\" style=\"\" rel=\"noopener\">AED 2.1 bn<\/a> (c. USD 584 mn) after pricing its IPO at the top of the range at AED 1.10 per unit, giving it a market cap of AED 14.3 bn (c. USD 3.9 bn). The offering was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/78d5c800-2bd2-4ea9-861c-f57994a56def\/dubai-holding-upsizes-residential%253cmark%253e-reit%253c%2Fmark%253e-ipo-on-strong-demand\" style=\"\" rel=\"noopener\">upsized to offer a 15%<\/a> stake after being more than 26x oversubscribed, with demand exceeding AED 56 bn (c. USD 15 bn). The selling shareholder is subject to a 180-day lock-up period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Trump administration is pressing ahead with its crackdown on international <\/strong><strong>students<\/strong>, <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/student-visa-social-media-d71aa33ff756c1383b362f69bf5b7a17\" style=\"\" rel=\"noopener\">halting new visa interviews<\/a> and preparing to expand social media vetting. The push \u2014 which has <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/education\/2025\/05\/27\/state-department-international-student-visa-review\/\" style=\"\" rel=\"noopener\">targeted Harvard and other Ivy League schools<\/a> with more and more restrictions \u2014 is framed as an effort to combat anti-Semitism, following last year\u2019s widespread pro-Palestinian protests in US universities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Trump and friends are doing business as usual: <\/strong>Trump Media, largely owned by US President Trump and the parent company of Truth Social, <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/05\/27\/business\/trump-media-bitcoin.html\" style=\"\" rel=\"noopener\">announced it will raise USD 2.5 bn to invest in BTC<\/a>, by selling 58 mn shares as convertible bonds. Meanwhile, Elon Musk\u2019s brain-mapping startup Neuralink <a target=\"_blank\" href=\"https:\/\/www.semafor.com\/article\/05\/27\/2025\/elon-musks-neuralink-raises-fresh-cash-at-9b-valuation\" style=\"\" rel=\"noopener\">reportedly raised USD 600 mn<\/a> in a funding round that put its valuation at USD 9 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CLOSER TO HOME- <\/strong>Germany is considering <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-05-27\/germany-weighs-curbs-on-israel-weapons-exports-on-gaza-concerns\" style=\"\" rel=\"noopener\">restricting military exports to Israel<\/a>, citing concerns about targeting civilians. \u201cThe massive military strikes by the Israeli army in the Gaza Strip no longer make any sense to me,\u201d Chancellor Friedrich Merz said yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The shift in tone from allies of Israel<\/strong> coincides with <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2025\/05\/27\/middleeast\/gaza-aid-distribution-chaos-ghf-intl-latam\" style=\"\" rel=\"noopener\">a chaotic first day for the US and<\/a><a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2025\/05\/27\/middleeast\/gaza-aid-distribution-chaos-ghf-intl-latam\" style=\"\" rel=\"noopener\">Israel-backed Gaza Humanitarian Foundation<\/a>, which saw thousands of Palestinians overrunning aid sites in Rafah, shots fired in the air and private security officials fleeing the scene. The little-known foundation\u2019s operations were widely expected to be disastrous, mired in the last few days by a shady contracting process with Tel Aviv and multiple resignations of senior staff.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">***<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You\u2019re reading EnterpriseAM UAE<\/strong>, your essential daily roundup of business, economics, and must-read news about the UAE, delivered straight to your inbox. We\u2019re out Monday through Friday by 7am UAE time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM UAE is available without charge <\/strong>thanks to the generous support of our friends at Mashreq.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM UAE. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea, request coverage, ask for a correction, or otherwise get in touch? <\/strong>Reach out to us on  <a target=\"_blank\" href=\"mailto:UAE@enterpriseAM.com\" style=\"\" rel=\"noopener\">UAE@enterpriseAM.com<\/a> .<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong>, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong>,<\/strong> and the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\" style=\"\" rel=\"noopener\">climate<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">logistics<\/a> industries?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">***<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Opec<\/strong><strong>+ moves oil meeting up by a day: <\/strong>Eight Opec+ countries that pledged voluntary production cuts will now meet on 31 May, a day earlier than previously scheduled, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/oil-climbs-after-trump-extends-eu-trade-talks-deadline-july-2025-05-26\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing sources. The meeting is expected to finalize July output levels, with earlier reports pointing to another potential 411k bbl\/d increase. The group had already agreed to accelerate supply hikes in both <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c58aa6c8-304e-4678-a5f3-d9848b0d1b77\/this-morning:-gcc-us-summit-in-saudi-arabia-next-week%3F-%2B-fed-kicks-off-interest-rate-meeting-today\" style=\"\" rel=\"noopener\">June<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/074b3f33-57bb-4f94-9170-2de99fefdb12\/this-morning:%253cmark%253e-opec%253c%2Fmark%253e%2B-to-hike-production-next-month-%2B-emergency-gaza-focused-arab-league-summit-kicks-off-in-egypt-today\" style=\"\" rel=\"noopener\">April<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nothing set in stone yet: <\/strong>Russian Deputy Prime Minister Alexander Novak said the group has yet to formally discuss a production hike, Reuters reported, citing Russian news outlet RIA.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Opec+ is \u201cdoing its best to balance the market,\u201d<\/strong> though UAE Energy and Infrastructure Minister Suhail Al Mazrouei warned that rising demand could catch the market off guard and called on oil producers to step up investment, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/opec-must-be-mindful-rising-oil-demand-uae-energy-minister-says-2025-05-27\/\" style=\"\" rel=\"noopener\">Reuters<\/a> quotes Al Mazrouei as saying during a forum. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-investment-authority\/\">Abu Dhabi Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n        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<\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/sp-sees-abu-dhabis-gdp-growing-2-5-this-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/370.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"104089\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/sp-sees-abu-dhabis-gdp-growing-2-5-this-year\/370-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/370.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"370.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/370.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/370.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-104088\" class=\"content-area-description single-story post-104088 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-abu-dhabi tag-debt tag-economy tag-gdp tag-ras-al-khaimah tag-sp-global wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.cc2678fe-2a72-438f-b7b9-5adeab60eebe.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> S&amp;P pegs <\/strong><strong>Abu Dha<\/strong><strong>bi economy growth at 2.5% this year:<\/strong> S&amp;P Global Rating sees Abu Dhabi\u2019s real GDP growth coming in at 2.5% in 2025, and 3.5% over the next three years, buoyed by non-hydrocarbon activity edging up 3% a year, S&amp;P Global said in a report seen by EnterpriseAM. Projected growth would be well below the 3.8% figure recorded in 2024, which was driven by a 6.2% expansion of the nonhydrocarbon sector. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Driving the growth:<\/strong><span style=\"background-color: transparent;\"> \u201cWe expect Abu Dhabi\u2019s oil production will increase gradually since OPEC+ quotas are partially lifted and state-owned oil producer, refiner, and distributor ADNOC increases its capacity to 5 mn bpd by 2027 from 4.85 mn bpd currently. Over the next few years, we expect the Ghasha gas and Ruwais LNG projects to significantly enhance Abu Dhabi\u2019s gas production capacity,\u201d the agency said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> The agency\u2019s sovereign credit rating for Abu Dhabi is currently at AA\/Stable\/A-1+, with a stable outlook, with the agency citing strong fiscal buffers, growing non-oil sector contributions, increasing oil production and expanding domestic capital markets. \u201cThe stable outlook reflects our expectation that Abu Dhabi's fiscal and external positions will remain strong over the next two years, amid continued prudent policymaking and our hydrocarbon sector price assumptions,\u201d the report said. A downward revision could occur if the emirate\u2019s fiscal assets deteriorate sharply, while improved monetary policy and fiscal transparency could spur an upgrade. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Structural reforms conducted by the UAE and Abu Dhabi will also improve business environment<\/strong> and lure foreign investment, which the agency says will \u201cboost labor market flexibility and increase investment and foreign worker inflows.\u201d These measures include personal and family law liberalization, an FDI law that grants 100% ownership of businesses in various sectors by foreign investors, in addition to golden visas, which help support talent retention.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How this compares to others: <\/strong>The International Monetary Fund (IMF) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/dcf54be9-d388-4bfe-a7a0-b7d273462968\/imf-sees-abu-dhabi-economic-growth-this-year-exceeding-dubai%25e2%2580%2599s-and-the-gcc%25e2%2580%2599s\" style=\"\" rel=\"noopener\">expects<\/a> Abu Dhabi\u2019s economy to grow at a faster pace than Dubai\u2019s this year, projecting 4.2% growth for the former and 3.3% for the latter. Abu Dhabi\u2019s economy is expected to grow a further 5.8% next year, while Dubai\u2019s could grow 3.5%. The IMF expects the UAE\u2019s economy to grow <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/261164f9-698a-4536-8e53-af67349d9b67\/%253cmark%253eimf%253c%2Fmark%253e-maintains-the-uae%25e2%2580%2599s-gdp-growth-forecast-at-4%2525\" style=\"\" rel=\"noopener\">4%<\/a> for 2025 and 5% for 2026 \u2014 making it among the fastest growing in the GCC this year. Non-oil GDP was projected to grow by 4.5%, driven by tourism, construction, public spending, and financial services.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the fiscal front: <\/strong>Abu Dhabi\u2019s fiscal surplus is projected to narrow from 6.7% of GDP in 2024 to 2.8% of GDP in 2025 before widening to about 6.0% on average over 2026-2028, according to S&amp;P\u2019s forecast.<\/p>\n<p class=\"tag-border-left\">RAS AL KHAIMAH\u2019S GDP SEEN GROWING 3.3%- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO<\/strong><strong>- S&amp;P Global sees Ras Al Khaimah\u2019s economic growth easing to 3.3% in 202<\/strong><strong>5<\/strong> and 2026, on the back of increased external headwinds, before accelerating to 4.3% in 2027 and 2028, driven by real estate, manufacturing, mining, and tourism, <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2602345\/business-economy\" style=\"\" rel=\"noopener\">Arab News<\/a> reports, citing an S&amp;P Global report. The emirate also benefits from wider federal financial backing from Abu Dhabi.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: The ratings agency <\/strong><strong><a target=\"_blank\" href=\"https:\/\/disclosure.spglobal.com\/ratings\/en\/regulatory\/article\/-\/view\/type\/HTML\/id\/3290118\" style=\"\" rel=\"noopener\">recently upgraded<\/a><\/strong><strong> Ras Al Khaimah to an A sovereign credit rating with a <\/strong><strong>stable outlook<\/strong>, citing strong tourism-driven growth, infrastructure investment, prudent fiscal management, and solid returns from state-owned entities<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Steady on the surplus side:<\/strong> The emirate\u2019s fiscal surpluses are expected to remain modest, averaging 2% of GDP through to 2028. With a net asset position of 21% of GDP, S&amp;P said RAK is well-positioned to maintain stability even as infrastructure spending rises thanks to stable revenues and low leverage. The emirate posted a fiscal surplus of AED 2.9 bn in 2024 \u2014 6.5% of GDP \u2014 supported by land sales, municipal revenues, and restrained capital spending.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ras-al-khaimah\/\">Ras Al Khaimah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sp-global\/\">S&amp;P Global<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"104090\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"104090\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/adcb-eyes-second-usd-600-mn-formosa-bond-sale-this-year\/\">\r\n                            ADCB eyes second USD 600 mn Formosa bond sale this year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/adcb-eyes-second-usd-600-mn-formosa-bond-sale-this-year\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/adcb-eyes-second-usd-600-mn-formosa-bond-sale-this-year\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/adcb-eyes-second-usd-600-mn-formosa-bond-sale-this-year\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=ADCB eyes second USD 600 mn Formosa bond sale this year&url=https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/adcb-eyes-second-usd-600-mn-formosa-bond-sale-this-year\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/adcb-eyes-second-usd-600-mn-formosa-bond-sale-this-year\/&title=ADCB eyes second USD 600 mn Formosa bond sale this year\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=ADCB+eyes+second+USD+600+mn+Formosa+bond+sale+this+year+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2025%2F05%2F28%2Fadcb-eyes-second-usd-600-mn-formosa-bond-sale-this-year%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/adcb-eyes-second-usd-600-mn-formosa-bond-sale-this-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1962.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"104091\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/adcb-eyes-second-usd-600-mn-formosa-bond-sale-this-year\/1962-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1962.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1962.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1962.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1962.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-104090\" class=\"content-area-description single-story post-104090 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-abu-dhabi-commercial-bank tag-debt tag-debt-watch tag-enterpriseam-uae tag-first-abu-dhabi-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.8db1eda7-2fa9-4ddd-a521-41a8b58bf25e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>ADC<\/strong><strong>B kicks off second Formosa bond sale this year:<\/strong> ADX-listed Abu Dhabi Commercial Bank (ADCB) has reportedly opened books on a benchmark USD 600 mn five-year floating-rate Formosa bond, priced at a spread of 100 bps over the secured overnight financing rate (SOFR), <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/capital-markets\/bonds\/abu-dhabi-commercial-bank-issues-price-guidance-for-usd-regs-5-year-sofr-formosa-cbm0nmid\" style=\"\" rel=\"noopener\">Zawya<\/a> reports. The bonds will be listed on the Taipei Exchange and Euronext Dublin, with the coupon paid on a quarterly basis. The move comes three months after the state-backed lender sold <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/164b73e9-1ac6-416b-944b-d884c9fda79a\/adcb%25e2%2580%2599s%253cmark%253e-formosa%253c%2Fmark%253e-bond-issuance-raises-usd-600-mn\" style=\"\" rel=\"noopener\">its first Formosa bonds this year<\/a> in February, valued at USD 600 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">SOUND SMART-<\/strong><span style=\"background-color: transparent;\"> Formosa bonds are issued in Taiwan but are denominated in a non-Taiwanese currency. Other Emirati issuers in Taiwan's bond market include Mubadala, which <\/span><a target=\"_blank\" href=\"https:\/\/www.tradingview.com\/news\/reuters.com,2024:newsml_FWN3HQ173:0-mubadala-launches-750-mln-10-yr-formosa-bonds-ifr-says\/\" rel=\"noopener\">raised<\/a><span style=\"background-color: transparent;\"> USD 750 mn in Formosa bonds last year, and First Abu Dhabi Bank (FAB), which raised <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bbb91cdb-6294-49ec-841d-4434c8e0e26e\/fab-raises-usd-800-mn-in-formosa-bond-sale\" rel=\"noopener\">USD 800 mn<\/a><span style=\"background-color: transparent;\"> in July 2024. Emirates NBD also took a USD 700 mn issuance to market in Taiwan this year.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the offering: <\/strong>The senior unsecured notes are Reg S compliant, making it easier for foreign institutions to buy in. The issuance, which falls under ADCB\u2019s USD 15 bn global medium term note program, was rated A+ with a stable outlook by both S&amp;P Global and Fitch.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds: <\/strong>The bank will use net proceeds from the debt sale for general corporate needs and to finance or refinance eligible green loans, Zawya wrote. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADCB has been somewhat regulatory tapping debt markets: <\/strong>In addition to its recently-closed Formosa bond issuance, the lender was reportedly considering a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e41c634c-8f87-4538-a23d-7c1e36782ec5\/adcb,-masdar,-and-adnoc-tap-into-debt-market\" style=\"\" rel=\"noopener\">USD 500 mn<\/a> tier two sale, last September. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>HSBC and Standard Chartered were appointed joint managers on the transaction.<\/p>\n<p class=\"tag-border-left\">IN OTHER DEBT NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FAB taps Taiwan\u2019s debt market again:<\/strong> First Abu Dhabi Bank (FAB) listed a fresh USD 750 mn five-year floating-rate bond offering on the Taipei Exchange yesterday, according to <a target=\"_blank\" href=\"https:\/\/www.tpex.org.tw\/en-us\/announce\/market\/announce\/detail.html?docId=8958&amp;sid=10\" style=\"\" rel=\"noopener\">a bourse announcement<\/a>. The notes were priced at par with a coupon set at 97 bps above SOFR and are subject to certain selling restrictions. No further details were given.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-commercial-bank\/\">Abu Dhabi Commercial Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/first-abu-dhabi-bank\/\">First Abu Dhabi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"104092 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"104092\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/104092-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-104092\" class=\"content-area-description single-story post-104092 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreq.com\/en\/uae\/private\/become-a-customer\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/741.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"104093\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"104093\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/sports-consulting-firm-elevate-enters-middle-east-with-rise-group-acquisition\/\">\r\n                            Sports consulting firm Elevate enters Middle East with Rise Group acquisition                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/sports-consulting-firm-elevate-enters-middle-east-with-rise-group-acquisition\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/sports-consulting-firm-elevate-enters-middle-east-with-rise-group-acquisition\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/sports-consulting-firm-elevate-enters-middle-east-with-rise-group-acquisition\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Sports consulting firm Elevate enters Middle East with Rise Group acquisition&url=https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/sports-consulting-firm-elevate-enters-middle-east-with-rise-group-acquisition\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/sports-consulting-firm-elevate-enters-middle-east-with-rise-group-acquisition\/&title=Sports consulting firm Elevate enters Middle East with Rise Group acquisition\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Sports+consulting+firm+Elevate+enters+Middle+East+with+Rise+Group+acquisition+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2025%2F05%2F28%2Fsports-consulting-firm-elevate-enters-middle-east-with-rise-group-acquisition%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/sports-consulting-firm-elevate-enters-middle-east-with-rise-group-acquisition\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2297.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"104094\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/sports-consulting-firm-elevate-enters-middle-east-with-rise-group-acquisition\/2297-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2297.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2297.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2297.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2297.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-104093\" class=\"content-area-description single-story post-104093 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-abu-dhabi tag-dubai tag-enterpriseam-uae tag-ma-watch tag-sports wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.271c215e-29f4-4d14-9006-c3c281a76f36.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Global sports consulting firm acquires Rise Group: <\/strong>US-based global sports and entertainment consulting firm <a target=\"_blank\" href=\"https:\/\/www.oneelevate.com\/\" style=\"\" rel=\"noopener\">Ele<\/a><a target=\"_blank\" href=\"https:\/\/www.oneelevate.com\/\" style=\"\" rel=\"noopener\">vate Sports Ventures<\/a> has acquired Dubai-headquartered commercial consultancy <a target=\"_blank\" href=\"https:\/\/www.risegroupme.com\/\" style=\"\" rel=\"noopener\">Rise Group<\/a>, marking its regional entry and expanding operations to Riyadh, Jeddah, Abu Dhabi, and Dubai. The transaction \u2014 pending regulatory approval \u2014 adds 60 Rise staff to Elevate\u2019s global workforce and brings clients like Neom, Qiddiya, and the Saudi Pro League under Elevate\u2019s umbrella, the company said in a <a target=\"_blank\" href=\"https:\/\/www.oneelevate.com\/article\/elevate-expands-global-reach-with-acquisition-of-rise-group\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Post-acquisition plans: <\/strong><span style=\"background-color: transparent;\">Rise\u2019s founders will take leadership roles within the group, with the combined entity set to lead regional activations for the NFL\u2019s San Francisco 49ers as part of the league\u2019s Global Market Program. Rise will also be rebranded and folded into Elevate over the next few months, Rise co-founder and managing partner Seth Holmes said on a podcast (<\/span><a target=\"_blank\" href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/labubu-fever-hits-the-uae\/id1491716048?i=1000710062402\" rel=\"noopener\">listen, runtime: 35: 27<\/a><span style=\"background-color: transparent;\">).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Elevate\u2019s global footprint: <\/strong>Elevate has deployed its capital across a strong profile of minority shares in sports franchises globally, including with UK premium league teams and US NFL and NBA teams like Golden State Warriors and the Philadelphia 76ers. Elevate\u2019s CEO Al Guido (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/al-guido-4b3ba69\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) is also president of the San Francisco 49ers, while 49ers Enterprises own the UK\u2019s Leeds United football club. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rise<\/strong><strong> has a substantial footprint as well<\/strong>, having worked with regional big hitters including Neom and the Dubai Sports Council, and Abu Dhabi\u2019s Department of Culture and Tourism. Currently its workforce is split between Dubai, Abu Dhabi, Riyadh, and Jeddah.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Behind the takeover: <\/strong>The acquisition points to global interest and investment in the commercialization of sport in the region, and in Saudi Arabia in particular, Holmes said, pointing to KSA\u2019s sports investment drive, including a successful world cup bid, as attracting international firms to the region.<\/p>\n<p class=\"tag-border-left\">OTHER M&amp;A NEWS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Newly-formed Al Ain Farms Group has completed the acquisition of GCC poultry product farm<\/strong><strong> operator <\/strong><strong><a target=\"_blank\" href=\"https:\/\/arabianfarms.com\/\" style=\"\" rel=\"noopener\">Arabian Farms<\/a><\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/sedco-holding-and-bugshan-investment-announce-completion-of-sale-of-arabian-farms-to-al-ain-farms-group-ewy7y1ta\" style=\"\" rel=\"noopener\">press release<\/a>. Arabian Farms is a joint venture between Bugshan Investment, the investment arm of the Bugshan family office, and Saudi Arabia\u2019s <a target=\"_blank\" href=\"https:\/\/sedco.com\/en\/\" style=\"\" rel=\"noopener\">Sedco Holding<\/a>, and the transaction will see the two exit the JV. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> In <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bb22d9c8-cb4c-4cda-b8bd-27d48b20d648\/indian-crypto-unicorn-acquires-dubai%25e2%2580%2599s-bitoasis\" style=\"\" rel=\"noopener\">July<\/a>, Ghitha subsidiary Al Ain Farms for Livestock Arabian Farms, acquired Arabian Farms for AED 240 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Arabian Farms tapped Ernst &amp; Young Corporate Finance as lead financial advisor for the transaction, and EY Law LLP served as its legal counsel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound familiar? <\/strong>Launched at the Make it in the Emirates Forum 2025 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4cba6ba8-347c-4485-84fd-edba6796d7e8\/ad-ports-explores-green-energy-storage-jv-with-rotterdam%25e2%2580%2599s-advario\" style=\"\" rel=\"noopener\">last week<\/a>, Al Ain Farms Group brings together five UAE brands \u2014 Al Ain Farms, Marmum Dairy, Al Ajban Chicken, Al Jazira Poultry Farm, and Saha Arabian Farms \u2014 under one umbrella. The group is backed by Ghitha Holding and Yas Holding, and is aiming to expand its regional footprint.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sports\/\">Sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"104095\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"104095\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/adnoc-drilling-lands-usd-1-15-bn-offshore-rig-contract\/\">\r\n                            Adnoc Drilling lands USD 1.15 bn offshore rig contract                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/adnoc-drilling-lands-usd-1-15-bn-offshore-rig-contract\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/adnoc-drilling-lands-usd-1-15-bn-offshore-rig-contract\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/adnoc-drilling-lands-usd-1-15-bn-offshore-rig-contract\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Adnoc Drilling lands USD 1.15 bn offshore rig contract&url=https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/adnoc-drilling-lands-usd-1-15-bn-offshore-rig-contract\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/adnoc-drilling-lands-usd-1-15-bn-offshore-rig-contract\/&title=Adnoc Drilling lands USD 1.15 bn offshore rig contract\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Adnoc+Drilling+lands+USD+1.15+bn+offshore+rig+contract+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2025%2F05%2F28%2Fadnoc-drilling-lands-usd-1-15-bn-offshore-rig-contract%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/adnoc-drilling-lands-usd-1-15-bn-offshore-rig-contract\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/309.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"104096\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/adnoc-drilling-lands-usd-1-15-bn-offshore-rig-contract\/309-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/309.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"309.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/309.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/309.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-104095\" class=\"content-area-description single-story post-104095 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-adnoc tag-adnoc-drilling tag-energy tag-enterpriseam-uae tag-oil-and-gas wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.23bb0a9f-abfb-48f6-962e-4669d2f83509.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Adnoc to exp<\/strong><strong>and offshore ops:<\/strong> Adnoc Drilling has secured a USD 1.15 bn, 15-year contract from Adnoc Offshore to operate two jack-up rigs to support its offshore expansion plans, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/2253.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The two new rigs were prepared at Lamprell\u2019s shipyard in Sharjah and are described as next-gen jack-ups equipped with advanced digitalization systems, real-time data analytics, and AI technologies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">The timeline: <\/strong><span style=\"background-color: transparent;\">Both rigs are scheduled to begin operations toward the end of 2Q 2025, with Adnoc Drilling expecting revenue contributions to kick in during 2H 2025.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Adnoc Offshore awarded Adnoc Drilling <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b9c30c6b-eab4-4406-b5da-3dce8204ebcb\/\" style=\"\" rel=\"noopener\">a USD 806 mn<\/a> long-term contract for three newbuild island rigs earlier this month, along with a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4c37ec4d-ea08-438b-a072-23fbb5684a39\/drill,-baby,-drill%25e2%2580%25a6\" style=\"\" rel=\"noopener\">USD 1.6 bn five-year contract<\/a> for integrated drilling services (IDS) earlier in April. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big goals ahead:<\/strong> Adnoc Drilling expects to operate more than <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/be961d13-b087-4ffa-abcb-3d0ed90dc48d\/\" style=\"\" rel=\"noopener\">151 rigs by 2028<\/a> and reach USD 5 bn in revenue in FY 2026. The company\u2019s CFO Youssef Salem <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d68f32ad-1732-446f-862d-f1751e3d9f06\/\" style=\"\" rel=\"noopener\">said<\/a> it will allocate between USD 350 mn and USD 550 mn of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/2ad5333e-69d8-48cf-b2df-ebb601fe6e3b\/\" style=\"\" rel=\"noopener\">USD 1 bn<\/a> it earmarked for investments this year, to add rigs and oil field service equipment in the UAE. The company could explore acquisitions of rigs or drilling businesses in Kuwait and Oman, after being <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7d96ebe5-a108-4388-b2db-42f6c63935b5\/\" style=\"\" rel=\"noopener\">pre-qualified<\/a> for operations in both markets.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc-drilling\/\">Adnoc Drilling<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"104097\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"104097\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/five-holdings-turns-to-the-black-in-1q-2025\/\">\r\n                            Five Holdings turns to the black in 1Q 2025                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/five-holdings-turns-to-the-black-in-1q-2025\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/five-holdings-turns-to-the-black-in-1q-2025\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/five-holdings-turns-to-the-black-in-1q-2025\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Five Holdings turns to the black in 1Q 2025&url=https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/five-holdings-turns-to-the-black-in-1q-2025\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/five-holdings-turns-to-the-black-in-1q-2025\/&title=Five Holdings turns to the black in 1Q 2025\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Five+Holdings+turns+to+the+black+in+1Q+2025+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2025%2F05%2F28%2Ffive-holdings-turns-to-the-black-in-1q-2025%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/five-holdings-turns-to-the-black-in-1q-2025\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2295.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"104098\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/five-holdings-turns-to-the-black-in-1q-2025\/2295-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2295.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2295.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2295.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2295.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-104097\" class=\"content-area-description single-story post-104097 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-enterpriseam-uae tag-five-holdings tag-hospitality wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.1a5878b6-0d34-4c05-8d20-5042ffe5e50f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hospitality <\/strong><strong>group Five Holdings reported a net income of AED 34.8 mn in 1Q 202<\/strong><strong>5<\/strong>, after incurring a loss of AED 3.7 mn during the same period last year, according to the company's <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/2248.pdf\" style=\"\" rel=\"noopener\">financial statement (pdf)<\/a>. The hospitality group saw its top line grow 39.6% y-o-y to AED 495.9 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Behind the growth: <\/strong><span style=\"background-color: transparent;\">Revenues from its hospitality segment saw a 24% y-o-y uptick, making up AED 322 mn of total revenues, according to a separate <\/span><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/2249.pdf\" rel=\"noopener\">earnings release (pdf)<\/a><span style=\"background-color: transparent;\">. An 84% y-o-y increase in real estate revenues added AED 174 mn to the top line. Expanding operations and strengthening market position were cited as reasons behind the strong results for the firm, whose portfolio spans the UAE, Spain, and Switzerland.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/five-holdings\/\">Five Holdings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"104099\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"104099\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/mashreq-is-now-the-first-uae-bank-to-offer-instant-payments-for-smes\/\">\r\n                            Mashreq is now the first UAE bank to offer instant payments for SMEs                        <\/a>\r\n                    <\/h3>\r\n\r\n                    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wp-post-image\" alt=\"\" data-attachment-id=\"104100\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/mashreq-is-now-the-first-uae-bank-to-offer-instant-payments-for-smes\/1978-jpg-49\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1978.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1978.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1978.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1978.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-104099\" class=\"content-area-description single-story post-104099 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-abu-dhabi tag-adgm tag-also-on-our-radar tag-barakah-nuclear-plant tag-blockchain tag-crypto tag-dubai-future-foundation tag-dubai-islamic-bank tag-education tag-emirates-nuclear-energy-corporation tag-emsteel tag-enterpriseam-uae tag-infrastructure tag-investment tag-ma tag-majid-al-futtaim tag-mashreq tag-nuclear-energy tag-payments tag-ras-al-khaimah tag-retail tag-roads-and-transport-authority tag-saudi-arabia tag-taqa tag-tech tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.e53ba3e4-64ed-4471-8200-750fa47fb813.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">PAYMENTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Mashreq <\/strong><strong>rolls out Aani instant payments for SMEs: <\/strong>Our friends at Mashreq have launched Aani Instant Payments for SME clients, allowing businesses to collect payments in real time via QR codes or links, without the need to enter an IBAN, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mashreq-uae_mashreq-aani-smes-activity-7332691990330904577-Yvav?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAECGRDUBHEJxU_12ypcWhtFbUb7ztXVT0mY\" style=\"\" rel=\"noopener\">LinkedIn post<\/a>. Merchant QR codes will also be available through the Mashreq Biz app from 9 June. Mashreq is the first UAE bank to offer Aani to SMEs.<\/p>\n<p class=\"tag-border-left\">EDUCATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Schneider rolls out AED 100 mn initiative + opens its first impact building in Dubai: <\/strong>Schneider Electric has launched an AED 100 mn education initiative in the UAE and has set up its new regional HQ in Dubai Silicon Oasis, state news agency <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/bjvaiyp-schneider-electric-launches-aed100-million\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The five-year education initiative, which will be rolled out in phases, will modernize engineering labs with energy and automation technologies, provide mentorship programs, and fund applied research through partnerships with universities and industry leaders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the HQ: <\/strong>The Nest is Schneider's first impact building \u2014 a smart building equipped with integrated digital solutions \u2014 and the 10k sqm office in Dubai Silicon Oasis houses 1k employees, according to a <a target=\"_blank\" href=\"https:\/\/www.se.com\/ww\/en\/about-us\/newsroom\/news\/press-releases\/schneider-electric-launches-impact-buildings-program-with-first-site-in-dubai-6833d9632c8fde37610ca903\" style=\"\" rel=\"noopener\">press release<\/a>. The site features a training center for customers and partners, and aims to cut energy consumption by 37% and reduce CO2 emissions by 572 metric tons annually.<\/p>\n<p class=\"tag-border-left\">TRANSPORT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"http:\/\/pony.ai\" style=\"\" rel=\"noopener\">Pony<\/a><\/strong><strong><a target=\"_blank\" href=\"http:\/\/pony.ai\" style=\"\" rel=\"noopener\">.ai<\/a><\/strong><strong> to launch robotaxi trials in Dubai this year: <\/strong>Dubai\u2019s Roads and Transport Authority (RTA) has signed an MoU with China-based autonomous vehicle developer <a target=\"_blank\" href=\"http:\/\/pony.ai\" style=\"\" rel=\"noopener\">Pony.ai<\/a> to deploy its robotaxi fleet in the city, according to a <a target=\"_blank\" href=\"https:\/\/www.prnewswire.co.uk\/news-releases\/ponyai-partners-with-dubai-rta-to-accelerate-autonomous-mobility-in-the-middle-eastern-metropolis-302465418.html?tc=eml_cleartime\" style=\"\" rel=\"noopener\">press release<\/a>. Supervised trials will start this year, with fully driverless operations slated to begin in 2026. Pony.ai aims to eventually integrate its robotaxis with Dubai\u2019s metro, tram, and water transport systems.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>RTA is going all in on robotaxis<\/strong>, having also signed an MoU with Baidu\u2019s autonomous ride-hailing arm Apollo Go <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ee9c6f20-fccd-472a-9b38-619b6acf0ca1\/rta-and-baidu-team-up-to-deploy-1k-self-driving-taxis-in-dubai-by-2026\" style=\"\" rel=\"noopener\">in April<\/a> to launch a fleet of driverless taxis in Dubai, starting with 50 vehicles in the next few months and gradually scaling to 1k autonomous cabs by 2026.<\/p>\n<p class=\"tag-border-left\">RETAIL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai <\/strong><strong>Future Foundation and Majid Al Futtaim test retail robotics in mall: <\/strong>Dubai Future Foundation (DFF) and Majid Al Futtaim have launched a robotics pilot program at City Center Mirdif mall, deploying two avatar-style robots to assist shoppers with navigation, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/government-news\/majid-al-futtaim-and-dff-launch-people-first-retail-robotics-pilot-y85nolmj\" style=\"\" rel=\"noopener\">press release<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bigger picture:<\/strong> The trial is part of a research collaboration between Dubai Future Labs and Japan\u2019s Osaka University under the Moonshot Research and Development Program, which targets widespread robotic avatar use by 2050. <\/p>\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dalands<\/strong><strong>, Marriott to launch W Residences on Al Marjan Island: <\/strong>UAE-based <a target=\"_blank\" href=\"https:\/\/dalands.com\/\" style=\"\" rel=\"noopener\">Dalands<\/a><a target=\"_blank\" href=\"https:\/\/dalands.com\/\" style=\"\" rel=\"noopener\">Holding<\/a> has signed an agreement with <a target=\"_blank\" href=\"https:\/\/www.marriott.com\/marriott\/aboutmarriott.mi\" style=\"\" rel=\"noopener\">Marriott International<\/a>, backed by Ras Al Khaimah developer <a target=\"_blank\" href=\"https:\/\/marjan.ae\/\" style=\"\" rel=\"noopener\">Marjan<\/a>, to launch W Residences Al Marjan Island, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/dalands-holding-to-launch-w-residences-al-marjan-island-ni5fvoh4\" style=\"\" rel=\"noopener\">press release<\/a>. The 201-unit beachfront residential project is set to open in 4Q 2027, and will sit alongside the W Al Marjan Island hotel in Ras Al Khaimah. <\/p>\n<p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>ENEC<\/strong><strong>, GE Vernova Hitachi to explore deployment of small <\/strong><strong>modular reactors: <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.enec.gov.ae\/news\/operations-announcements\/\" style=\"\" rel=\"noopener\">Emirates Nuclear Energy Corporation<\/a> (ENEC) and GE Vernova Hitachi Nuclear Energy (GVH) have signed an agreement to evaluate the global deployment of BWRX-300 small modular reactor (SMR) technology both in the UAE and internationally, according to an Abu Dhabi Media Office <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/energy\/emirates-nuclear-energy-company-and-ge-vernova-hitachi-nuclear-energy-sign-partnership-during-world-utilities-congress-2025\/\" style=\"\" rel=\"noopener\">statement<\/a>. The agreement builds on a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ac22358c-2c5a-45e3-ae6d-408561a308e4\/tadweer-inks-2-mou-for-waste-recycling,-enec-continues-expansion,-masdar-to-build-ccs-plant-and-hydrogen-hub\" style=\"\" rel=\"noopener\">2023 MoU<\/a> signed during COP28.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The partners will develop a roadmap covering site selection, licensing, investment, commercialization, and supply chains. SMRs are gaining traction, especially for powering energy-intensive data centers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>ENEC has been actively expanding its international portfolio, inking agreements in recent years with French-Italian nuclear operator <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/74ac75f0-e31a-41c3-b2e8-c6e11d7099c5\/uae-to-invest-usd-40-bn-in-italy-across-key-sectors\" style=\"\" rel=\"noopener\">Newcleo<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/74ac75f0-e31a-41c3-b2e8-c6e11d7099c5\/uae-to-invest-usd-40-bn-in-italy-across-key-sectors\" style=\"\" rel=\"noopener\">China National Nuclear Corporation<\/a>, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ac22358c-2c5a-45e3-ae6d-408561a308e4\/tadweer-inks-2-mou-for-waste-recycling,-enec-continues-expansion,-masdar-to-build-ccs-plant-and-hydrogen-hub\" style=\"\" rel=\"noopener\">Moltex Flex and Ultra Safe Nuclear Corporation<\/a> on nuclear technology.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Snoc <\/strong><strong>and AUS partner on decade-long innovation fund:<\/strong> Sharjah National Oil Corporation (Snoc) and the American University of Sharjah (AUS) have established an AED 10 mn fund to support research, sustainable initiatives, conferences and workshops addressing energy and environmental challenges, <a target=\"_blank\" href=\"https:\/\/sharjah24.ae\/en\/Articles\/2025\/05\/27\/SNOC-launches-energy-environment-innovation-fund-with-AUS\" style=\"\" rel=\"noopener\">Sharjah24<\/a> reports. The Snoc Energy, Environment, and Innovation will be distributed over 10 years.<\/p>\n<p class=\"tag-border-left\">UTILITIES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Taqa<\/strong><strong>, Emsteel team up to boost utilities for Abu Dhabi industry:<\/strong> Abu Dhabi utility and energy firm Taqa subsidiary Taqa Distribution has signed an MoU with steel and building materials manufacturer Emsteel to explore delivering integrated power and water solutions across Abu Dhabi\u2019s industrial zones, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/2270.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The agreement covers end-to-end electricity and water network design, operations, and maintenance, as well as ready-for-use technical teams<\/p>\n<p class=\"tag-border-left\">AI-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More <\/strong><strong>AI agents courtesy of CNTXT AI and Beam AI:<\/strong> UAE-based AI infrastructure and data governance firm <a target=\"_blank\" href=\"https:\/\/www.cntxt.tech\/\" style=\"\" rel=\"noopener\">CNTXT AI<\/a> has signed an MoU with autonomous AI agent platform <a target=\"_blank\" href=\"https:\/\/beam.ai\/\" style=\"\" rel=\"noopener\">Beam AI<\/a> to provide AI agent solutions for GCC governments and corporations, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/ar\/%D8%A7%D9%84%D8%A8%D9%8A%D8%A7%D9%86%D8%A7%D8%AA-%D8%A7%D9%84%D8%B5%D8%AD%D9%81%D9%8A%D8%A9\/%D8%A8%D9%8A%D8%A7%D9%86%D8%A7%D8%AA-%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA\/cntxt-ai-beam-ai-54-nscv3drd\" style=\"\" rel=\"noopener\">press release<\/a>. The partnership will deploy Beam AI\u2019s agents on CNTXT AI\u2019s infrastructure in the GCC, including in the UAE and Saudi Arabia. Applications include automating tenant inquiries and lease underwriting in real estate, invoice analysis and transaction monitoring in finance, structured data extraction in data management, and citizen queries and permit processing in government sectors.<\/p>\n<p class=\"tag-border-left\">CRYPTO-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Changer <\/strong><strong>and Bitgrit partner on blockchain project in Abu Dhabi:<\/strong> Digital asset custodian Changer and AI startup Bitgrit have signed an MoU to develop blockchain-based AI solutions under Abu Dhabi\u2019s distributed ledger technology foundation, <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/business\/changer-and-bitgrit-partner-to-advance-ai-on-chain-innovation-in-abu-dhabi?_refresh=true\" style=\"\" rel=\"noopener\">Khaleej Times<\/a> reports. Changer will act as custodian for Bitgrit\u2019s BGR tokens, and later on for secure AI models tokenized on Bitgrit\u2019s BGR Network \u2014 a blockchain ecosystem for tokenizing and trading AI datasets.<\/p>\n<p class=\"tag-border-left\">DEBT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DIB <\/strong><strong>loans USD 150 mn to Turkcell for digital infrastructure: <\/strong>Dubai Islamic Bank has signed a USD 150 mn shariah-compliant Murabaha facility with Turkish telecoms and technology services provider <a target=\"_blank\" href=\"https:\/\/www.turkcell.com.tr\/\" style=\"\" rel=\"noopener\">Turkcell<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.dib.ae\/about-us\/news\/dib-signs-usd-150-million-murabaha-deal-with-turkcell-to-accelerate-t%C3%BCrkiye-s-tech-transformation?type=medialisting\" style=\"\" rel=\"noopener\">statement<\/a>. The five-year facility will support investments in data centers, cloud services, and renewable energy, and help expand the telco\u2019s digital infrastructure.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adgm\/\">ADGM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/barakah-nuclear-plant\/\">Barakah nuclear plant<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/blockchain\/\">Blockchain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/crypto\/\">CRYPTO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai-future-foundation\/\">Dubai Future Foundation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai-islamic-bank\/\">Dubai Islamic Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/emirates-nuclear-energy-corporation\/\">Emirates Nuclear Energy Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/emsteel\/\">Emsteel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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  <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"104101\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"104101\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/giant-us-retailers-mull-going-private-as-tariff-tensions-bite\/\">\r\n                            Giant US retailers mull going private as tariff tensions bite                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/giant-us-retailers-mull-going-private-as-tariff-tensions-bite\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n        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alt=\"\" data-attachment-id=\"104102\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/giant-us-retailers-mull-going-private-as-tariff-tensions-bite\/2301-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2301.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2301.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2301.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2301.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-104101\" class=\"content-area-description single-story post-104101 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-uae tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.121f29b5-67eb-47f9-94db-68599b2bb1ad.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Several major retailers are currently in talks to sell to investment firms and companies <\/strong>after US President Donald Trump's trade war wreaked havoc on their valuations, writes <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/boards-policy-regulation\/retailers-pummeled-by-trumps-trade-war-entertain-more-take-private-offers-2025-05-27\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. The rapidly-changing tariff announcements left retailers in a limbo and unable to provide earnings guidance amid trade policy instability. Investment bankers think that we could soon see more retailers aggressively pursuing private deals if Trump does not lock down a clear trade policy soon.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Going private is becoming an increasingly attractive option for retailers<\/strong><span style=\"background-color: transparent;\">, as they will become more immune to the unpredictable fluctuations in the market. They can also shield their earnings because they will no longer have to answer to financial reporting requests and other regulatory restrictions.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Public retailers are not overplaying the impact of market turmoil.<\/strong> Shoe company Skechers, acquired earlier this month by 3G Capital, saw its market value dip to USD 7.4 bn in late April, down from USD 11.85 bn in January, one day before Trump announced tariffs against China. Like Sketchers, many retailers manufacture their goods overseas, making them more prone to downsides of tariff announcements.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some retailers may find going private easier than others <\/strong>because a company structure drastically influences the signing of these agreements. Companies with a single investor or family companies like Skechers don\u2019t need a broad shareholder approval, meaning that public companies with a similar structure in the retail sector could go private sooner than we think.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US tensions with China flared up again <\/strong>shortly after they cooled things off during recent talks in Geneva that led to monetary calming of global markets. The two countries struck a fragile truce to roll back tariffs for an initial period of 90 days. The US\u2019 repeated warnings to its companies to avoid using AI chips manufactured by China\u2019s Huawei provoked the ire of the Chinese who said that such warnings \u201cundermine\u201d the Geneva talks, casting doubts on whether the 90-day truce will continue its full course.<\/p>\n<p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mixed in early trading this morning. <\/strong>Japan\u2019s Nikkei is looking at gains of 0.5% and the Kospi is up 1.8%. Meanwhile, both the Shanghai Composite and the Hang Seng are in the red, down 0.1% and 0.3%, respectively.<\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,674<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +2.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,505<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +6.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Nasdaq Dubai UAE20<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,527<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +8.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4.0% o\/n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4.1% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,925<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.4% (YTD: -9.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">32,397<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.5% (YTD: +8.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,922<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.1% (YTD: +0.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,778<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +7.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,415<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +10.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 64.29<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.40<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3,328<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 109,158<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +16.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BONDAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.57<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.0% (YTD: +0.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P MENA Bond &amp; Sukuk<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">143.0<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +2.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>VIX (Volatility Index)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">18.96<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-7.8% (YTD: +9.3%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The DFM rose 0.4% yesterday<\/strong> on turnover of AED 602.4 mn. The index is up 6.7% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Dubai Refreshment Company (+14.5%), Amlak Finance (+5.6%) and Al Salam Bank (+1.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>National Industries Group Holding (-7.7%), Emirates Reem Investments (-5.1%) and BHM Capital Financial Services (-2.3%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the ADX<\/strong>, the index rose 0.2% on turnover of AED 1.3 bn. Meanwhile, Nasdaq Dubai was up 0.5%.<\/p>\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IHC <\/strong><strong>extends AED 5 bn share buyback program: <\/strong>International Holding Company (IHC) has received regulatory approval from the Abu Dhabi Securities Exchange to extend its AED 5 bn share repurchase program until 31 December 2025, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/2252.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. The program was initially set to run for one year, ending in June, following its announcement in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f45c9dc2-e435-498e-a503-03cef4ce6dac\/ihc-reports-bottom-line-growth-in-1q-2024,-plans-aed-5-bn%253cmark%253e-share-buyback%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">May 2024<\/a> and board approval <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a971cc80-a8fd-4312-a17c-edbe4d5515e5\/eu-tariffs-on-chinese-evs-might-possibly-ease-up\" style=\"\" rel=\"noopener\">in June<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>The buyback allows IHC to repurchase up to AED 5 bn worth of shares \u2014 equivalent to 0.6% of its total share capital \u2014 with all repurchased shares to be cancelled. The program aims to enhance shareholder value by increasing earnings per share. IHC has so far completed a first tranche worth AED 1.8 bn and launched a second AED 1.5 bn tranche <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ffffaa19-7c7c-44f5-9d21-600d18cb8ed6\/brewing-trade-war-to-weigh-on-global-growth,-oecd-says\" style=\"\" rel=\"noopener\">in March<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"104103\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/28\/104103-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-104103\" class=\"content-area-description single-story post-104103 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">MAY  <\/span><span style=\"font-weight:400;\">  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26-28 May (Monday-Wednesday): Arab Media Summit, World Trade Center, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 May (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2025\/may\/23-05\/dubai-films-and-games-commission-announces-the-inaugural-film-and-gaming-forum\" style=\"\">Film and Gaming Forum<\/a><\/span><span style=\"font-weight:400;\">, World Trade Center, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26-30 May (Monday-Friday): Dubai Chamber of Commerce is set to go on a trade mission to the Philippines and Thailand. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>27-29 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.indexexhibition.com\/\" style=\"\">INDEX<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.workspaceexhibition.com\/\" style=\"\">Workspace<\/a><\/span><span>, and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.thehotelshow.com\/\" style=\"\">The Hotel Show<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>27-29 (Tuesday- Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldutilitiescongress.com\/\" style=\"\">The World Utilities Congress<\/a><\/span><span style=\"font-weight:400;\">, Adnec, Abu Dhabi.   <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28 May (Wednesday): The Dubai Residential REIT will ring the bell. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-31 May: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wam.ae\/en\/article\/bj3wkk2-moccae-launches-inaugural-emirates-agriculture\" style=\"\">The Emirates Agriculture Conference and Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Adnec Center Al Ain, Abu Dhabi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>31 May (Saturday): Opec+ meeting, expected to decide on July output levels.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17-18 June (Tuesday-Wednesday): US Federal Reserve\u2019s Federal Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>17-18 June (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mediaoffice.abudhabi\/en\/infrastructure\/hosted-by-abu-dhabi-projects-and-infrastructure-centre-inaugural-abu-dhabi-infrastructure-summit-to-take-place\/\" style=\"\">Abu Dhabi Infrastructure Summit<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi Energy Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>24-25 June (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.terrapinn.com\/exhibition\/middle-east-rail\/index.stm\" style=\"\">Middle East Rail<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27 June (Friday): Islamic New Year.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in 2H 2025:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Closing of XRG's acquisition of Covestro<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6-7 July (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/brazil-brics-summit-rio-ea1ad30cd114143d91840a37f96725ee\" style=\"\">BRICS Summit<\/a><\/span><span style=\"font-weight:400;\">, Rio de Janeiro.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29-30 July (Tuesday-Wednesday): US Federal Reserve\u2019s Federal Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-6 September (Monday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dubaifashionweek.org\/\" style=\"\">Dubai Fashion Week<\/a><\/span><span style=\"font-weight:400;\">, Dubai Design District. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-10 September (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/digihealth.ai\/\" style=\"\">DigiHealth exhibition<\/a><\/span><span style=\"font-weight:400;\">, World Trade Center, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-19 September (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldhealthexpo.com\/events\/healthcare\/tech\/en\/home.html\" style=\"\">WHX-Tech Expo<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Centre. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-14 September (Friday-Sunday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.realestateshow.ae\/\" style=\"\">International Real Estate and Investment Show<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">16-17 September (Tuesday-Wednesday): US Federal Reserve\u2019s Federal Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">24-25 September (Wednesday-Thursday): Mohammed Bin Rashid Leadership Forum, Mohammed Bin Rashid Center for Leadership Development, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>24-25 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.rta.ae\/wps\/portal\/rta\/ae\/home\/news-and-media\/all-news\/NewsDetails\/rta-opens-registration-for-the-dubai-world-congress-for-self-driving-transport-2025?lang=en\" style=\"\">Dubai World Congress for Self-Driving Transport<\/a><\/span><span style=\"font-weight:400;\">, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-2 October (Thursday-Friday):<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wges.ae\/\" style=\"\">World Green Economy Summit (WGES)<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Centre. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 September - 2 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wetex.ae\/en\/about\" style=\"\">The Water, Energy, Technology, and Environment Exhibition (WETEX)<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Centre. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-16 October (Friday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.visitdubai.com\/en\/whats-on\/dhf\" style=\"\">Dubai Home Festival<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7-9 October (Tuesday-Thursday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.icrp.org\/page.asp?id=659\" style=\"\">International Symposium on the System of Radiological Protection<\/a><\/span><span style=\"font-weight:400;\">, the Ritz-Carlton Abu Dhabi, Grand Canal. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9-15 October (Thursday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/iucncongress2025.org\/\" style=\"\">IUCN World Conservation Congress<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>14-16 October (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/initiatives.weforum.org\/future-of-growth-initiative\/gfc\" style=\"\">Global Future Councils<\/a><\/span><span style=\"font-weight:400;\">, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>27-29 October (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.futurehospitality.com\/world\" style=\"\">Future Hospitality Summit<\/a><\/span><span style=\"font-weight:400;\">, Madinat Jumeirah, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27-29 October (Monday-Wednesday): Asia Pacific Cities Summit, Dubai Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28-29 October (Tuesday-Wednesday): US Federal Reserve\u2019s Federal Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-17 November (Wednesday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/robocupap.org\/\" style=\"\">RoboCup Asia-Pacific<\/a><\/span><span style=\"font-weight:400;\">, Khalifa University, Abu Dhabi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-17 November (Saturday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/myplantgardenme.com\/\" style=\"\">Myplant & Garden Middle East Green Expo<\/a><\/span><span style=\"font-weight:400;\">, Dubai Exhibition Centre, Expo City.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>17-21 November (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.dubaiairshow.aero\/en\/home.html\" style=\"\">Dubai Airshow 2025<\/a><\/span><span style=\"font-weight:400;\">, Al Maktoum International Airport, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">18-19 November (Tuesday-Wednesday): Dubai Future Forum, Museum of the Future, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1-3 December (Monday-Wednesday): Eid Al Etihad (UAE National Day).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-5 December (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wfns2025.org\/\" style=\"\">The World Congress of Neurosurgery<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-9 December (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adnec.ae\/en\/eventlisting\/bitcoin-mena-2025\" style=\"\">BTC Mena Conference<\/a><\/span><span style=\"font-weight:400;\">, Adnec, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-10 December (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wam.ae\/en\/article\/bim1ken-national-media-office-launches-bridge-summit\" style=\"\">BRIDGE<\/a><\/span><span style=\"font-weight:400;\"> media summit, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9-10 December (Tuesday-Wednesday): US Federal Reserve\u2019s Federal Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in 2025:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">The Middle East Electric Vehicle Show, Expo Center Sharjah. <\/span><\/li>\n<li><span style=\"font-weight:400;\">e& will complete Adnoc\u2019s private 5G network. <\/span><\/li>\n<li><span style=\"font-weight:400;\">Executive Committee Meeting (EXCOM 2025) conference of the World Smart Sustainable Cities Organisation (WeGO)<\/span><\/li>\n<li><span style=\"font-weight:400;\">The International Civil Aviation Organization\u2019s Global Implementation Support Symposium, Abu Dhabi. <\/span><\/li>\n<li><span style=\"font-weight:400;\">Universal Postal Congress 2025, Dubai.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in the fall of 2025:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">2025 Games of the Future, Dubai.<\/span><\/li>\n<li><span style=\"font-weight:400;\">ICOM General Conference 2025, Dubai<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in 2026:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">9-11 January (Friday-Sunday): 1 Bn Followers Summit\u2019s fourth edition, UAE.<\/span><\/li>\n<li><span>28-29 January (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adgm.com\/media\/announcements\/abu-dhabi-to-host-the-27th-annual-iba-arbitration-day-conference\" style=\"\">IBA Arbitration Day Conference,<\/a><\/span><span style=\"font-weight:400;\"> Abu Dhabi.<\/span><\/li>\n<li><span>3-5 February (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/x.com\/UAEmediaoffice\/status\/1890315122872045735\" style=\"\">The World Governments Summit<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/li>\n<li><span>12-15 February (Thursday-Sunday):  <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/siteglobal.com\/event\/site-global-conference-2026\" style=\"\">The Society for Incentive Travel Excellence Global Conference<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi.<\/span><\/li>\n<li><span>11-13 May (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/aieverythingglobal.com\/home\" style=\"\">AI Everything Global<\/a><\/span><span style=\"font-weight:400;\">, Adnec Center.<\/span><\/li>\n<li><span style=\"font-weight:400;\">The UAE to host the Arab Competition Forum<\/span><\/li>\n<li><span style=\"font-weight:400;\">Dubai to host the Arab Actuarial Conference<\/span><\/li>\n<li><span style=\"font-weight:400;\">United Nations Water Conference 2026, UAE<\/span><\/li>\n<li><span style=\"font-weight:400;\">The first edition of Dubai Future Finance Week.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in October 2026:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Abu Dhabi Space Week, Abu Dhabi.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in 2027:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Abu Dhabi\u2019s solar and battery energy facility, combining 5.2 GW of solar capacity and 19 GWh of battery storage, is set for commissioning. <\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime between 2027 and 2029:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">The commissioning of the seventh phase of Mohammed bin Rashid Al Maktoum Solar Park.<\/span><\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Sports consulting firm Elevate enters Middle East with Rise Group acquisition | Bin Butti eyes IP | Adnoc Drilling lands USD 1.15 bn offshore rig contract<\/p>\n","protected":false},"featured_media":104084,"menu_order":0,"template":"","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-104083","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"1935279c-99fc-4c8e-b24b-b7867aa4f498","teaser":"Sports consulting firm Elevate enters Middle East with Rise Group acquisition | Bin Butti eyes IP | Adnoc Drilling lands USD 1.15 bn offshore rig contract","photo_url":"https:\/\/ent.news\/2024\/7\/389.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Abu Dhabi set for 2.5% growth this year. 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