{"id":104126,"date":"2025-05-29T00:00:00","date_gmt":"2025-05-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=104126"},"modified":"2025-12-15T03:54:36","modified_gmt":"2025-12-15T03:54:36","slug":"first-dubai-ipo-of-the-year-surges-on-trading-debut","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/first-dubai-ipo-of-the-year-surges-on-trading-debut\/","title":{"rendered":"First Dubai IPO of the year surges on trading debut"},"content":{"rendered":"<section id=\"104128\" 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=\"104128\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1265.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"104129\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/this-morning-mubadala-to-invest-in-telegrams-usd-1-5-bn-bond-issuance-uae-firms-eye-russian-business-of-unicredit\/1265-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1265.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1265.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1265.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1265.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-104128\" class=\"content-area-description single-story post-104128 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam-uae tag-ipo tag-ma tag-mubadala tag-securities-and-commodities-authority tag-telegram tag-trade 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\/.d1c64181-b267-4166-9c19-7f7f2c500d6c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, lovely people. <\/strong>The news flow has picked up as we inch closer to the weekend, as more UAE issuers pile into debt markets, and Dubai Holding\u2019s residential REIT rings the bell to mark Dubai\u2019s first IPO of the year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- Speaking of Dubai real estate:<\/strong> China\u2019s CITIC is making its foray into Dubai\u2019s property market with a AED 22 bn luxury community, while Binghatti is planning a AED 25 community development in Meydan. <strong>ALSO:<\/strong> Dubai fintech Qashio secured USD 19.8 mn for Saudi entry<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2600\ufe0fWEATHER- Temperatures are rising again today<\/strong>, with some blowing dust expected during the day, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/2344.pdf\" style=\"\" rel=\"noopener\">National Center of Meteorology (pdf)<\/a>. <strong>Dubai <\/strong>will see a high of 42\u00b0C, cooling to 31\u00b0C overnight. <strong>Abu Dhabi <\/strong>will be slightly milder, with a daytime peak of 36\u00b0C and overnight lows dipping to 29\u00b0C.<\/p>\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- <\/strong><strong>Public sector Eid break confirmed: <\/strong>The Federal Authority For Government Human Resources has announced that Arafat Day and Eid Al Adha holidays for ministries and federal entities will run from <strong>Thursday, 5 June to Sunday, 8 June<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/FAHRGOV\/posts\/pfbid0kzVwYSibrc5tEnnL4Dg9dm6jFhbvJfSP89SRM99ur2izNzbdpmahFPGs9u2VrsBFl\" style=\"\" rel=\"noopener\">Facebook post<\/a>. Work will resume on Monday, 9 June. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The moon-sighting committee <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0e07ee87-d628-4316-97e0-eb1ac4e5f561\/this-morning:-taqa-eyes-acquisitions-in-the-us-%2B-bin-butti-joins-race-for-italian-refiner-ip\" style=\"\" rel=\"noopener\">confirmed<\/a> earlier this week that Eid Al Adha will fall on Friday, 6 June, pointing to a likely four-day weekend for both sectors. That said, we\u2019re still waiting on official confirmation from the Human Resources and Emiratization Ministry for the private sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>flydubai <\/strong><strong>adds four European destinations:<\/strong> flydubai will begin service to Chi\u0219in\u0103u in Moldova and Romania\u2019s Ia\u0219i in September 2025, according to a <a target=\"_blank\" href=\"https:\/\/news.flydubai.com\/\" style=\"\" rel=\"noopener\">press release<\/a>. Services to Riga International Airport in Latvia and Lithuania\u2019s Vilnius International Airport are set to come in December 2025.<\/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\"><strong>SIGN OF THE TIMES-<\/strong> <strong>SCA <\/strong><strong>rolls<\/strong><strong> out the first regional license for financial influencers:<\/strong> The Securities and Commodities Authority (SCA) has introduced the region's first regulatory licenses for financial influencers, also known as finfluencers, according to a <a target=\"_blank\" href=\"https:\/\/www.sca.gov.ae\/en\/media-center\/news\/28\/5\/2025\/sca-launches-regions-first-finfluencer-license-to-regulate-digital-financial-content.aspx\" style=\"\" rel=\"noopener\">press release<\/a>. The license targets individuals offering investment advice, analysis, or promotions via digital or traditional media. This includes content shared on social media, blogs, seminars, or public statements about buying, selling, or holding investments. The SCA also waived registration, renewal, and legal consultation fees for the license for three years.<\/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> Mubad<\/strong><strong>ala to invest in Telegram\u2019s USD 1.5 bn bond issuance? <\/strong>Dubai-based messaging app Telegram is looking to raise upwards of USD 1.5 bn in a bond issuance, the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/telegram-set-to-raise-1-5-billion-in-bond-issue-despite-ceos-legal-woes-053284f0\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> reports citing sources familiar with the matter. The five-year convertible bonds are expected to be priced at a 9% yield and to be used to reduce its leverage position. Existing Telegram bond-holder Abu Dhabi sovereign wealth fund Mubadala is expected to subscribe, as is the US\u2019 BlackRock.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This comes despite ongoing controversy <\/strong>surrounding its CEO Pavel Durov, who returned to Dubai <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6023ef34-e232-445e-b251-cfae07878127\/mgx%25e2%2580%2599s-record-crypto-investment-is-getting-ink-in-the-foreign-press\" style=\"\" rel=\"noopener\">earlier this year<\/a> after he was the subject of an investigation in France concerning criminal activities on Telegram. It was also fined <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f6606d94-09e0-4618-88d3-f35cf22781e6\/emirates-president-says-aviation-industry-is-in-uncharted-territory-amid-us-tariffs,-but-the-uae-carrier-can-ride-the-wave\" style=\"\" rel=\"noopener\">USD 80k<\/a> by Moscow\u2019s courts for allegedly promoting Ukrainian content.<\/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=\"wwtt2\"><\/a> <strong>#2- <\/strong><strong>Two UAE-ba<\/strong><strong>sed investment firms \u2014 Asas Capital and Mada Capital \u2014<\/strong><strong> have reportedly offered to buy the <\/strong><strong>Russian business of Italy-based multinational banking group UniCredit<\/strong> at a 60% lower valuation, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/gulf-firms-approach-italys-treasury-buy-unicredits-russian-assets-document-shows-2025-05-28\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing a document it had seen. The acquisition, which would take place through a special purpose vehicle set up by the two firms, could take 6-8 months to play out, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-05-28\/unicredit-s-russia-unit-may-attract-bids-from-uae-based-firms?embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported, citing a document it had seen.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The gameplan: <\/strong>The UAE bidders tapped advisory and investment firm Inweasta \u2014 which already has a footprint in Russia \u2014 to handle the regulatory work. The proposal includes unspecified Italian partners to help navigate approvals from EU and US regulators. If it goes through, the transaction would be a rare example of UAE capital stepping into Russia\u2019s financial sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> The Italian lender has been under pressure from both the ECB and Rome to wind down its Russia exposure by 2026. Abu Dhabi\u2019s Mubadala Investment was also in the ring to potentially acquire UniCredit\u2019s Russian operations in 2023, but scrapped the plans due to potential US government opposition, the business news information service said.<\/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=\"wwtt3\"><\/a> <strong>#3- <\/strong><strong>N<\/strong><strong>asdaq-listed telecoms firm Veon is eyeing a dual listing in the UAE within the next <\/strong><strong>3-5 years<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/veon-considering-dual-listing-uae-3-5-years-2025-05-28\/\" style=\"\" rel=\"noopener\">Reuters<\/a> quotes CEO Kaan Terzioglu as saying. This comes after it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/26582194-9872-4af0-bb25-ca0a46e1d82c\" style=\"\" rel=\"noopener\">moved its headquarters from Amsterdam to the UAE<\/a> last year. \u201cAt a certain point, I think this [UAE listing] will be inevitable,\u201d Terzioglu said, citing strong investor appetite and a more nuanced understanding of Veon\u2019s footprint. This also comes as the company leans deeper into a \u201cdigital operator\u201d model, offering services spanning fintech, healthcare, and entertainment, in addition to mobile networks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company, which counts Kyivstar in Ukraine and Jazz in Pakistan among its portfolio of <\/strong><strong>operators, is also considering IPOs of its subsidiaries in the UAE <\/strong>along a similar timeline, the newswire said.<\/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=\"wwtt4\"><\/a> <strong>#4- The UAE is hoping to formalize a trade agreement with the EU within three to six <\/strong><strong>months<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/uae-minister-says-trade-talks-with-eu-not-hurdle-deal-between-gcc-bloc-2025-05-28\/\" style=\"\" rel=\"noopener\">Reuters<\/a> quotes Foreign Trade Minister Thani Al Zeyoudi as saying. He adds that talks won\u2019t hinder GCC efforts to partner with the bloc. The talks, which started <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bdc0391a-4132-41fa-80a3-2f82bb46cf91\/eu,-uae-begin-bilateral-trade-talks\" style=\"\" rel=\"noopener\">last month<\/a>, will instead pave the way for an eventual bloc-wide agreement, he said. Talks for an EU-GCC agreement have stalled since 2008. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The UAE has ramped up its comprehensive economic partnership agreement (CEPA) strategy in recent months, signing or launching negotiations with countries including <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ba2bcfe7-bb7a-47f8-bf01-c3848a4b3c25\/gcc-inks-trade-agreement-with%253cmark%253e-south%253c%2Fmark%253e%253cmark%253e-korea%253c%2Fmark%253e-%2B-uae,-congo-wrap-trade-talks\" style=\"\" rel=\"noopener\">South Korea<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bdc0391a-4132-41fa-80a3-2f82bb46cf91\/eu,-uae-begin-bilateral-trade-talks\" style=\"\" rel=\"noopener\">New Zealand<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/eaa3e9f2-aad4-4ae6-b56e-09811f5516a1\/uae,%253cmark%253e-chile%253c%2Fmark%253e-formalize-trade-pact\" style=\"\" rel=\"noopener\">Chile<\/a>, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/2f739bca-cf67-4556-aa86-024f3c4c8112\/cabinet-approves-national-investment-strategy,-targeting-aed-240-bn-in-fdi-flows\" style=\"\" rel=\"noopener\">Malaysia<\/a>, as it looks to boost trade ties amid economic diversification efforts.<\/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\"><strong>#5- <\/strong><strong>Enercap<\/strong><strong> in talks with Europeans for UAE-made batteries: <\/strong><a target=\"_blank\" href=\"https:\/\/enercap.energy\/\" style=\"\" rel=\"noopener\">Enercap<\/a>, Apex Investment\u2019s subsidiary, is in talks with several European countries \u2014 including the UK and Italy \u2014 which have expressed interest in deploying its new batteries, Managing Director Ahmed Amer Omar told <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/bjvvyk7-enercap-launches-uae-made-advanced-batteries-eyes\" style=\"\" rel=\"noopener\">Wam<\/a>. Enercap has officially commenced production of fully UAE-manufactured batteries designed for EVs, urban power grids, and data centers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The system is the world\u2019s first non-chemical battery tech<\/strong>, according to Enercap\u2019s CMO Bilal Sheikh. It is based on electrostatic energy storage rather than chemical reactions \u2014 meaning no lithium, electrolytes, or graphene \u2014 and comes with claims of ultra-fast charging of under six minutes, a 40-year lifespan, and no combustion risk. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> EPointZero \u2014 the decarbonization arm of 2PointZero \u2014 acquired a 1 GWh electrostatic energy storage system from Enercap <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4cba6ba8-347c-4485-84fd-edba6796d7e8\/\" style=\"\" rel=\"noopener\">last week<\/a>, to be deployed across the UAE\u2019s electrical grid. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More in the works:<\/strong> The company is also developing the fully renewable-powered Mawasem Park project, located between Abu Dhabi and Al Samha, and is also testing its batteries with companies like <a target=\"_blank\" href=\"https:\/\/www.g42.ai\/\" style=\"\" rel=\"noopener\">G42<\/a>. <\/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\"><strong>#6- <\/strong><strong>Adnoc Distributio<\/strong><strong>n is planning to produce marine motor oil in Egypt in partnership<\/strong><strong> with TotalEnergies by 4Q 2025,<\/strong> specialty products VP Saber Al Amari told <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/AsharqbEGY\/posts\/pfbid0HEdgBgXivJWUWQrjWahdXPyoyvzKo2J91yJcRzCbBdTRLRBFYDQzvV4GZ1otSnFZl\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The company\u2019s production capacity is expected to hit 90k tons annually, with a sales target of 1.5-2 mn liters of oil in Egypt by year-end, Al Amari added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong>After making an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75784c1b-8241-45cc-affa-165e236ca996\" style=\"\" rel=\"noopener\">entrance into Egypt as recently as 2023<\/a> through the acquisition of a 50% stake in fuel retailer TotalEnergies Egypt, the company has been quickly expanding both the number of its service stations \u2014 <a target=\"_blank\" href=\"https:\/\/totalenergies.com\/egypt\" style=\"\" rel=\"noopener\">currently at 240<\/a> \u2014 and its local manufacturing of oils. After kicking off the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea84b82d-e9ea-43bb-a5a3-72d953bf6eb3\/%253cmark%253eadnoc%253c%2Fmark%253e-distribution-to-manufacture-motor-oil-in-egypt-before-the-end-of-2024\" style=\"\" rel=\"noopener\">local manufacture of motor oil<\/a> at the end of 2024, the company is now also pursuing the manufacturing of aviation fuel and entering the EV charging market, as part of a wider strategy to invest USD 250-300 mn across its markets this year.<\/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\"><strong>ALSO- The UAE summoned its Israeli ambassador<\/strong> as a gesture of condemnation of the events that took place during a rally in Jerusalem earlier this week, state news agency <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/bjwhdrs-mofa-summons-israeli-ambassador-condemns-strongest\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Far-right jews during a large rally on Monday that gathered to celebrate the capture of the city in 1967 assaulted Palestinians and other Israelis and journalists in what the UAE said were \u201cprovocative practices by Israeli extremists.\u201d The UAE also called on the Israeli government \u201cto assume full responsibility, condemn these hostile acts, hold perpetrators accountable without exception to ministers and officials.\u201d<\/p>\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 Dubai Chamber of Commerce is on a trade mission<\/strong> <strong>to the Philippines<\/strong><strong> and Thailand that will last through to tomorrow<\/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 includes representatives of companies operating in sectors like food and beverages, automotive, and electronics, who are participating 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>#2- <\/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 third and final day<\/strong> at the Adnec Center in Abu Dhabi. The conference gathers 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 spotlights 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>#3- 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> is on its second day today, and runs 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 tackles themes including climate-smart agriculture, water scarcity, food security, and agritech innovation. The event also features 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>#4- 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 final day<\/strong> at the Dubai World Trade Center. Workspace brings together over 33k visitors and more than 920 exhibitors, and showcases 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 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>It\u2019s all about the Trump administration in the global front pages this morning. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trump tariffs blocked: <\/strong>A US trade court blocked US President Donal Trump\u2019s Liberation Day tariffs, invalidating them in a move that is expected to destabilize the president\u2019s economic policies. \u201cThe court does not pass upon the wisdom or likely effectiveness of the President's use of tariffs as leverage. That use is impermissible not because it is unwise or ineffective, but because [federal law] does not allow it,\u201d the judge panel said. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/us-court-blocks-trumps-liberation-day-tariffs-2025-05-28\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-tariffs-trade-court-0392dbd59f548e49ad4f64254ae3f94a\" style=\"\" rel=\"noopener\">AP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-05-28\/trump-s-global-tariffs-blocked-by-us-trade-court?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/bd6479b2-b7e5-42c2-ae17-779e57b02637\" style=\"\" rel=\"noopener\">FT<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Imposing tariffs is a move that usually requires congressional approval. <\/strong>Congress has the sole authority to regulate trade with other countries, the court said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ll keep our eyes peeled for how markets react to the decision. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And that\u2019s a wrap on Musk\u2019s time in government: <\/strong>Elon Musk will be bidding farewell to the Trump administration, leaving his post as head of the Department of Government Efficiency. The b\u2019naire made the announcement on <a target=\"_blank\" href=\"https:\/\/x.com\/elonmusk\/status\/1927877957852266518\" style=\"\" rel=\"noopener\">X<\/a>, saying \u201cas my scheduled time as a Special Government Employee comes to an end, I would like to thank President realDonaldTrump for the opportunity to reduce wasteful spending.\u201d (<a target=\"_blank\" href=\"http:\/\/v\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/elon-musk-donald-trump-big-beautiful-bill-aa2bc70b0ebdb219b5dd3e9f8fae03af\" style=\"\" rel=\"noopener\">AP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-05-29\/musk-departs-doge-leaving-cost-cutting-effort-s-legacy-in-doubt?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>) <\/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.&nbsp;<a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/user\/news-letters\" rel=\"noopener\">Tap or click here<\/a><span style=\"background-color: transparent;\"> to get your own copy of EnterpriseAM UAE.<\/span><\/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\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\/ipo\/\">IPO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                       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href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/20617.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"104131\" 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=\"104131\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/first-dubai-ipo-of-the-year-sets-upbeat-tone-on-first-trading-day\/\">\r\n                            First Dubai IPO of the year sets upbeat tone on first trading day                        <\/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\/29\/first-dubai-ipo-of-the-year-sets-upbeat-tone-on-first-trading-day\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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      <a href=\"https:\/\/api.whatsapp.com\/send?text=First+Dubai+IPO+of+the+year+sets+upbeat+tone+on+first+trading+day+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2025%2F05%2F29%2Ffirst-dubai-ipo-of-the-year-sets-upbeat-tone-on-first-trading-day%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\/29\/first-dubai-ipo-of-the-year-sets-upbeat-tone-on-first-trading-day\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/2063.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"104132\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/first-dubai-ipo-of-the-year-sets-upbeat-tone-on-first-trading-day\/2063-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/2063.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2063.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/2063.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/2063.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-104131\" class=\"content-area-description single-story post-104131 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-dubai-holding tag-enterpriseam-uae tag-ipo tag-ipo-watch tag-real-estate 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\/.9c83cfdc-4cde-412d-993f-ff7aff45b60e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Dubai<\/strong><strong> Residential REIT\u2019s unit price jumped 13.6% on its DFM debut <\/strong><strong>yesterday, closing at AED 1.25 apiece,<\/strong> according to market data. The REIT hit an intraday high of AED 1.31 per unit \u2014 19.1% higher than its debut price of AED 1.10 apiece.<\/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<\/strong><strong style=\"background-color: transparent;\"> AED 2.1 bn IPO is the first in Dubai this year<\/strong><span style=\"background-color: transparent;\">, and the second in the UAE overall, following <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/71cf22ef-c051-4258-a690-ed59fa678739\/alpha-data%25e2%2580%2599s-share-price-rallied-on-its-first-day-of-trading\" rel=\"noopener\">Alpha Data\u2019s ADX debut<\/a><span style=\"background-color: transparent;\"> in March. It is also the GCC\u2019s first pure-play residential leasing fund to hit the market.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> State-owned conglomerate Dubai Holding floated a 15% stake in the REIT, good for 1.95 bn secondary units at AED 1.10 apiece, the <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\">top of the range<\/a> it was guiding on. The offering was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/cbfd0257-ee01-4c95-9e10-2ddf8df65061\/%25d8%25af%25d8%25a8%25d9%258a-%25d8%25a7%25d9%2584%25d9%2582%25d8%25a7%25d8%25a8%25d8%25b6%25d8%25a9-%25d8%25aa%25d8%25b1%25d9%2581%25d8%25b9-%25d8%25ad%25d8%25ac%25d9%2585-%25d8%25b7%25d8%25b1%25d8%25ad-%25d8%25b5%25d9%2586%25d8%25af%25d9%2588%25d9%2582%25d9%2587%25d8%25a7-%25d8%25a7%25d9%2584%25d8%25b3%25d9%2583%25d9%2586%25d9%258a-%25d9%2584%25d9%2584%25d8%25a7%25d8%25b3%25d8%25aa%25d8%25ab%25d9%2585%25d8%25a7%25d8%25b1-%25d8%25a7%25d9%2584%25d8%25b9%25d9%2582%25d8%25a7%25d8%25b1%25d9%258a-%25d9%2586%25d8%25b8%25d8%25b1%25d8%25a7-%25d9%2584%25d9%2582%25d9%2588%25d8%25a9-%25d8%25a7%25d9%2584%25d8%25b7%25d9%2584%25d8%25a8\" style=\"\" rel=\"noopener\">upsized from 12.5%<\/a> after being more than 26x oversubscribed with demand exceeding AED 56 bn (c. USD 15 bn). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The positive first-day performance comes following <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/354a9d5d-947b-46e9-be2f-0ab1e9c7f988\/gcc-ipo-pipeline-looks-strong-for-2025,-with-the-uae-and-saudi-arabia-leading-the-charge--efg-hermes\" style=\"\" rel=\"noopener\">several lackluster debuts<\/a><\/strong><strong> last year, <\/strong>namely from Talabat, Lulu Retail and Alef Education, despite IPOs being consistently oversubscribed, with pricing at the high end of the range due to high demand. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Emirates NBD Capital, Morgan Stanley and Citigroup acted as joint global coordinators, with Abu Dhabi Commercial Bank, Arqaam Capital and First Abu Dhabi Bank acting as joint bookrunners on the transaction. Deloitte &amp; Touche is auditor, while Ibrahim &amp; Partners is legal counsel. Receiving agents include Emirates NBD Bank, Mashreq Bank, First Abu Dhabi Bank, and Emirates Islamic Bank, among others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO IN THE UAE PIPELINE:<\/strong><\/p>\n<ul>\n<li><strong>Dubai Holding<\/strong> is said to be mulling <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6675b0ae-8e52-4e2f-9ea4-82ac5e5efd03\/%253cmark%253edubai-holding%253c%2Fmark%253e-mulls-ipos-for-commercial-and-residential-property-units\" style=\"\" rel=\"noopener\">a second IPO<\/a> for a portfolio of commercial real estate assets, including malls, hotels, and theme parks.<\/li>\n<li><strong>ADQ-backed<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f2f7e8b6-e565-454f-8666-c712bcb4a127\/this-morning:%253cmark%253e-etihad-airways%253c%2Fmark%253e-ready-for-an-ipo-but-does-not-need-the-cash,-ceo-says-%2B-adia-eyes-sale-of-50%2525-stake-in-ifco\" style=\"\" rel=\"noopener\">Etihad Airways<\/a> is also planning to hit the ADX;<\/li>\n<li>Family-owned property developer <strong>Arabian Construction Company (ACC)<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/2891ea32-f405-482f-853e-21ad2ee3d140\/arabian-construction-company-taps-hsbc,-fab-for-its-upcoming%253cmark%253e-ipo%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">reportedly enlisted<\/a> HSBC and First Abu Dhabi Bank to advise on its upcoming IPO due in 2H;<\/li>\n<li><strong>Dubizzle<\/strong> and <strong>Property Finder<\/strong> are <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c8aa0268-2c28-4080-9810-353b4fc0ef1a\/dubizzle,-property-finder-are-gauging-investor-interest-ahead-of-potential-ipos\" style=\"\" rel=\"noopener\">gauging investor appetite<\/a> ahead of potential listings;<\/li>\n<li>Abu Dhabi conglomerate International Holding Company\u2019s investment arm <strong>2PointZero<\/strong> is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/03e0b1a5-ac76-4f48-b8e1-4f84720e55c1\/2pointzero-to-hit-adx-this-year%3F-%2B-abu-dhabi-investment-group-plans-to-list-two-of-its-units\" style=\"\" rel=\"noopener\">gearing up<\/a> for an IPO on the ADX;<\/li>\n<li><strong>Abu Dhabi Investment Group (ADIG)<\/strong> is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/03e0b1a5-ac76-4f48-b8e1-4f84720e55c1\/2pointzero-to-hit-adx-this-year%3F-%2B-abu-dhabi-investment-group-plans-to-list-two-of-its-units\" style=\"\" rel=\"noopener\">eyeing listings<\/a> for its financial unit and energy subsidiary this year;<\/li>\n<li>Hospitality group<strong> Five Holdings<\/strong> also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e41498de-e70b-4fe3-81cc-992793f20f9c\/%253cmark%253efive-holdings%253c%2Fmark%253e-taps-banks-for-2025-ipo\" style=\"\" rel=\"noopener\">tapped<\/a> advisors for a potential listing;<\/li>\n<li><strong>Amanat Holdings<\/strong> is planning to list its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e11209cb-2436-465a-8a18-8f9e15410aac\/%253cmark%253eamanat%253c%2Fmark%253e-holdings-to-discuss-potential-ipo-of-education-unit-today\" style=\"\" rel=\"noopener\">education<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a7487593-d87d-409f-8b7b-96601eda5c08\/expect-at-least-five-more-ipos-in-the-uae-this-year\" style=\"\" rel=\"noopener\">healthcare<\/a> units;<\/li>\n<li>PIF-backed California firm <strong>CloudKitchens<\/strong> is reportedly eyeing <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/49566b5f-4bd3-4d45-a0a7-fa957002224e\/this-morning:-fuel-prices-are-up-slightly-in-may-%2B-two-new-potential-ipos-in-the-cards\" style=\"\" rel=\"noopener\">an IPO<\/a> in Saudi and\/or the UAE for its Middle East unit, while Dubai-based grocery ecommerce platform <strong>Kibsons <\/strong><strong>International<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/49566b5f-4bd3-4d45-a0a7-fa957002224e\" style=\"\" rel=\"noopener\">plans to IPO<\/a> in the next few years;<\/li>\n<li>Shisha producer <strong>Advanced Inhalation Ritual<\/strong> is also rumored to potentially IPO.<\/li>\n<\/ul>\n\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\/dubai-holding\/\">Dubai Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ipo\/\">IPO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ipo-watch\/\">IPO WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/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=\"104133\" 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=\"104133\">\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\/29\/mubadala-sharjah-islamic-bank-and-adcb-tap-debt-markets\/\">\r\n                            Mubadala, Sharjah Islamic Bank, and ADCB tap debt markets                        <\/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\/29\/mubadala-sharjah-islamic-bank-and-adcb-tap-debt-markets\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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data-attachment-id=\"104134\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/mubadala-sharjah-islamic-bank-and-adcb-tap-debt-markets\/1503-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1503.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1503.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1503.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1503.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-104133\" class=\"content-area-description single-story post-104133 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-mubadala tag-mubadala-investment-company tag-sharjah-islamic-bank tag-sukuk 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\/.d74639f3-73f5-4fd8-8f83-234d67701b97.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Mubad<\/strong><strong>ala closes first sukuk this year: <\/strong>Abu Dhabi sovereign wealth fund Mubadala\u2019s debt issuing arm Mamoura Diversified Global Holding (MDGH) has sold USD 1 bn 10-year sukuk sale, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/abu-dhabis-mubadala-fund-markets-10-year-us-dollar-islamic-bonds-2025-05-28\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing fixed income news services IFR. The sovereign wealth fund priced the bonds at 60 bps over US Treasuries, tightened from initial price guidance of 95 bps over US Treasuries after receiving some USD 4.8 bn in orders. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Background: <\/strong><span style=\"background-color: transparent;\">Mubadala last issued sukuk in October 2024 valued at <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f3d1fd96-68e1-4e65-acbc-af399c349615\/%253cmark%253emubadala%253c%2Fmark%253e'\" rel=\"noopener\">AED 1 bn<\/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>ADVISORS-<\/strong> HSBC, Abu Dhabi Commercial Bank, First Abu Dhabi Bank, JPMorgan, and Mizuho were tapped as joint global coordinators, and are joined by Abu Dhabi Islamic Bank, Barclays and Credit Agricole as bookrunners and joint lead managers. Emirates NBD and ICBC are passive bookrunners.<\/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>SIB\u2019s U<\/strong><strong>SD 500 mn sukuk draws USD 1 bn in orders: <\/strong>Sharjah Islamic Bank\u2019s (SIB) benchmark USD 500 mn additional tier one (ATI) sukuk offering attracted over USD 1 bn in orders, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/business\/banking-and-insurance\/sharjah-islamic-bank-launches-500mln-perpetual-non-call-6-year-at1-sukuk-f034vctm\" style=\"\" rel=\"noopener\">Zawya<\/a> reports. The yield on the six-year perpetual non-call issuance was tightened to 6.125% from initial price thoughts of 6.5% earlier in the day. The Mudaraba offering will be listed on Euronext Dublin and Nasdaq Dubai on 4 June and is part of its USD 500 mn ATI capital certificates program.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>SIB had been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/75388f2a-4a80-4028-970c-497c9e666391\/this-morning:%253cmark%253e-sharjah-islamic-bank%253c%2Fmark%253e-sounds-out-investors-for-at1-sukuk-sale-%2B-pay-for-your-flights-with-stablecoin%3F\" style=\"\" rel=\"noopener\">sounding out investors<\/a> for the issuances. The offering comes as the lender, which holds an A- rating from S&amp;P and a BBB+ rating from Fitch, looks to shore up its capital base.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong>The bank tapped our friends at Mashreq and HSBC along with Arqaam, Dubai Islamic Bank, Emirates NBD Capital, FAB, Kamco Invest, and Standard Chartered as joint lead managers and bookrunners on the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong><strong> ADCB<\/strong><strong> closes its second Formosa bond sale this year:<\/strong> ADX-listed Abu Dhabi Commercial Bank (ADCB) sold USD 600 mn worth of five-year floating Formosa bonds, in line with final price guidance of 100 bps over the secured governing financing rate (SOFR), <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/capital-markets\/bonds\/abu-dhabi-commercial-bank-targets-popular-tenor-ifr-sc7o7yt2\" style=\"\" rel=\"noopener\">Zawya<\/a> reports. Proceeds from the sale, which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/8e3e164a-3595-4c01-bbc4-1cebc0e8c82e\/adcb-eyes-second-usd-600-mn%253cmark%253e-formosa%253c%2Fmark%253e-bond-sale-this-year\" style=\"\" rel=\"noopener\">kicked off earlier this week<\/a>, will be used to meet the bank\u2019s general corporate needs and to finance or refinance eligible green loans. The paper will be listed on the Taipei Stock Exchange and the London Stock Exchange.<\/p>\n\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\/mubadala\/\">Mubadala<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mubadala-investment-company\/\">Mubadala Investment Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sharjah-islamic-bank\/\">Sharjah Islamic Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sukuk\/\">Sukuk<\/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=\"104135 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=\"104135\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/104135-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-104135\" class=\"content-area-description single-story post-104135 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\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=\"104136\" 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=\"104136\">\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\/29\/gulfnav-will-soon-be-the-new-owner-of-nasdaq-listed-brooge-energy\/\">\r\n                            GulfNav will soon be the new owner of Nasdaq-listed Brooge Energy                        <\/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\/29\/gulfnav-will-soon-be-the-new-owner-of-nasdaq-listed-brooge-energy\/\" 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(); 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The signing wraps up a transaction structure shareholders had approved back <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f24040d1-ebeb-4e1e-a70a-07bb3e80f38b\/%252525d9%25252585%252525d8%252525b3%252525d8%252525a7%252525d9%25252587%252525d9%25252585%252525d9%25252588-%252525d8%252525b4%252525d8%252525b1%252525d9%25252583%252525d8%252525a9%2525253cmark%2525253e-%252525d8%252525a7%252525d9%25252584%252525d8%252525ae%252525d9%25252584%252525d9%2525258a%252525d8%252525ac-%252525d9%25252584%252525d9%25252584%252525d9%25252585%252525d9%25252584%252525d8%252525a7%252525d8%252525ad%252525d8%252525a9%2525253c%25252Fmark%2525253e-%252525d9%2525258a%252525d9%25252588%252525d8%252525a7%252525d9%25252581%252525d9%25252582%252525d9%25252588%252525d9%25252586-%252525d8%252525b9%252525d9%25252584%252525d9%25252589-%252525d8%252525a7%252525d9%25252584%252525d8%252525a7%252525d8%252525b3%252525d8%252525aa%252525d8%252525ad%252525d9%25252588%252525d8%252525a7%252525d8%252525b0-%252525d8%252525b9%252525d9%25252584%252525d9%25252589-%252525d8%252525a3%252525d8%252525b5%252525d9%25252588%252525d9%25252584-%252525d8%252525a8%252525d8%252525b1%252525d9%25252588%252525d8%252525ac-%252525d9%25252584%252525d9%25252584%252525d8%252525b7%252525d8%252525a7%252525d9%25252582%252525d8%252525a9-%252525d9%25252585%252525d9%25252582%252525d8%252525a7%252525d8%252525a8%252525d9%25252584-3.3-%252525d9%25252585%252525d9%25252584%252525d9%2525258a%252525d8%252525a7%252525d8%252525b1-%252525d8%252525af%252525d8%252525b1%252525d9%25252587%252525d9%25252585\" style=\"\" rel=\"noopener\">in March<\/a>, and hands GulfNav ownership of three Brooge subsidiaries that run oil storage infrastructure in Fujairah \u2014 namely Brooge Petroleum and Gas Investment Company, Brooge Petroleum and Gas Investment Company Phase III, and BPGIC Phase 3.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">What they said:<\/strong><span style=\"background-color: transparent;\"> \u201cThe acquisition is expected to generate significant operational synergies, including cost savings from integrated logistics and increased storage capacity. Financially, the transaction is projected to enhance GulfNav\u2019s revenue streams and improve EBITDA margins over the next few years. The issuance of new shares and MCBs will increase Gulfnav\u2019s share capital by approximately 220%,\u201d GulfNav CEO Ahmad Kilani said in a separate <\/span><a target=\"_blank\" href=\"https:\/\/www.gulfnav.com\/Article\/10299\/GULFNAV-Shareholders-Approve-Strategic-Acquisition-of-Brooge-Energy-Limited%e2%80%99s-Assets-and-Companies-for-AED-32-Billion\" rel=\"noopener\">statement<\/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>What\u2019s next: <\/strong>Both sides still need to tick off regulatory approvals, along with a few legal steps.. The firm aims to close the transaction before the end of 3Q 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How they\u2019re paying for it:<\/strong><\/p>\n<ul>\n<li>Some 358.8 mn <strong>new shares<\/strong> will be issued to Brooge at AED 1.25 each, with a one-year lock-up;<\/li>\n<li>AED 2.3 bn in <strong>convertible bonds<\/strong> issues to Brooge, also at AED 1.25 per share;<\/li>\n<li>AED 500 mn in <strong>bonds<\/strong> offered to GulfNav shareholders at a slightly lower AED 1.10;<\/li>\n<li>as well as AED 460 mn in-cash.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS -<\/strong> Gulf Navigation appointed Trussbridge Advisory (DIFC) as its exclusive financial advisor, and Pinsent Masons as its lead counsel. Ibrahim &amp; Partners Law Firm provided legal advice on the transaction structuring and related regulatory aspects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax:<\/strong> Gulf Navigation\u2019s shares were up 8.97% to settle at AED 5.95 per share at the end of the day.<\/p>\n\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\/brooge-energy\/\">Brooge Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gulfnav\/\">GulfNav<\/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\/nasdaq-dubai\/\">Nasdaq Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startups\/\">startups<\/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=\"104138\" 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=\"104138\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/investcorp-capital-exits-indian-fashion-retailer-citykart\/\">\r\n                            Investcorp Capital exits Indian fashion retailer CityKart                        <\/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\/29\/investcorp-capital-exits-indian-fashion-retailer-citykart\/\" 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\/29\/investcorp-capital-exits-indian-fashion-retailer-citykart\/')\">\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\/29\/investcorp-capital-exits-indian-fashion-retailer-citykart\/\">\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=Investcorp Capital exits Indian fashion retailer CityKart&url=https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/investcorp-capital-exits-indian-fashion-retailer-citykart\/\">\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\/29\/investcorp-capital-exits-indian-fashion-retailer-citykart\/&title=Investcorp Capital exits Indian fashion retailer CityKart\">\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=Investcorp+Capital+exits+Indian+fashion+retailer+CityKart+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2025%2F05%2F29%2Finvestcorp-capital-exits-indian-fashion-retailer-citykart%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\/29\/investcorp-capital-exits-indian-fashion-retailer-citykart\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1277.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"104139\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/investcorp-capital-exits-indian-fashion-retailer-citykart\/1277-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1277.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1277.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1277.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1277.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-104138\" class=\"content-area-description single-story post-104138 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-enterpriseam-uae tag-investcorp-capital tag-ma-watch tag-uae-india-relations 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\/.9227fcdc-d68c-4c40-9de3-62defbd5a9e9.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADX-l<\/strong><strong>isted Abu Dhabi subsidiary of Bahraini private equity firm <\/strong><strong>Investcorp Capita<\/strong><strong>l<\/strong><strong> offloaded its entire holding <\/strong><strong>in Indian budget fashion retailer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/citykart.co.in\/\" style=\"\" rel=\"noopener\">Citykart<\/a><\/strong> to Hong Kong-based investment firm <a target=\"_blank\" href=\"https:\/\/www.tpg.com\/platforms\/market-solutions\/tpg-newquest\" style=\"\" rel=\"noopener\">TPG NewQuest<\/a> and Mumbai-based growth equity fund <a target=\"_blank\" href=\"https:\/\/a91partners.com\/\" style=\"\" rel=\"noopener\">A91 Partners<\/a>, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/2437.pdf\" style=\"\" rel=\"noopener\">disclosure (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/2437.pdf\" style=\"\" rel=\"noopener\">pdf)<\/a>. This is part of the firm\u2019s strategy to hold asset-light opportunities across consumer &amp; retail, healthcare, financial services, B2B and technology, it said in <a target=\"_blank\" href=\"https:\/\/www.investcorp.com\/investcorp-announces-sale-of-citykart-to-tpg-newquest-and-a91-partners\/\" style=\"\" rel=\"noopener\">a separate 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;\">A textbook PE exit: <\/strong><span style=\"background-color: transparent;\">Investcorp scaled CityKart\u2019s network to 137 stores, up from 37, helping the company drive topline growth to an estimated USD 102 mn for FY 2025, according to the statement. Investocorp is said to have made a 4x return on its Citykart investment, <\/span><a target=\"_blank\" href=\"https:\/\/entrackr.com\/news\/citykart-raises-rs-538-cr-led-by-tpg-newquest-and-a91-partner-9309720\" rel=\"noopener\">Entrackr<\/a><span style=\"background-color: transparent;\"> reports, citing media reports. The move marks Investcorp\u2019s fifth divestment from its India Consumer Growth Portfolio (ICGP), and comes as part of CityKart\u2019s USD 63 mn Series B round, Entrackr said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More exits to come?<\/strong> Investcorp is planning an IPO-led exit from health-benefits administrator Medi Assist Healthcare in India, and a partial exit from dialysis network NephroPlus.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investcorp\u2019s active India portfolio includes<\/strong> Global Dental, Wakefit, Canpac, Xpressbees, Zolo, Freshtohome, Intergrow Brands, Unilog, V-Ensure, and the buy-out of NSE IT, rechristened NuSummit among others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax: <\/strong>Investcorp\u2019s share price rose 3.8% to AED 1.7 apiece on yesterday\u2019s close.<\/p>\n\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\/investcorp-capital\/\">Investcorp Capital<\/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\/uae-india-relations\/\">UAE-India relations<\/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=\"104140\" 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=\"104140\">\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\">REAL ESTATE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/dubai-is-getting-more-real-estate-megaprojects\/\">\r\n                            China\u2019s CITIC makes foray into Dubai\u2019s property market with AED 22 bn luxury community + Binghatti eyes Meydan project                        <\/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\/29\/dubai-is-getting-more-real-estate-megaprojects\/\" 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\/29\/dubai-is-getting-more-real-estate-megaprojects\/')\">\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\/29\/dubai-is-getting-more-real-estate-megaprojects\/\">\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=Dubai is getting more real estate megaprojects&url=https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/dubai-is-getting-more-real-estate-megaprojects\/\">\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\/29\/dubai-is-getting-more-real-estate-megaprojects\/&title=Dubai is getting more real estate megaprojects\">\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=Dubai+is+getting+more+real+estate+megaprojects+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2025%2F05%2F29%2Fdubai-is-getting-more-real-estate-megaprojects%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\/29\/dubai-is-getting-more-real-estate-megaprojects\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/258.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"104141\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/dubai-is-getting-more-real-estate-megaprojects\/258-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/258.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"258.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/258.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/258.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-104140\" class=\"content-area-description single-story post-104140 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-binghatti tag-dubai tag-enterpriseam-uae tag-mag tag-real-estate 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\/.1ecfc3c3-6a15-4d9f-b619-44436bca4b2b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Two AED 20 bn+ real estate megaprojects are in the pipeline for Dubai<\/strong>, with local developers MAG and Binghatti planning new master-planned communities worth a combined AED 47 bn \u2014 one of them backed by Chinese state-owned giant CITIC.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">#1- <\/strong><strong style=\"background-color: transparent;\">MAG<\/strong><strong style=\"background-color: transparent;\">, CITIC to co-develop AED 22 bn luxury community in Al Rowaiyah First: <\/strong><span style=\"background-color: transparent;\">China\u2019s state-owned engineering, procurement, and construction conglomerate CITIC is making its foray into Dubai real estate through a joint venture with Dubai-based developer MAG Group. The two companies will co-develop Keturah Ardh, an AED 22 bn (USD 6 bn) residential project in Dubai\u2019s Al Rowaiyah First District, according to a <\/span><a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/mag-group-and-citic-limited-sign-mou-for-aed-22bln-keturah-ardh-development-in-dubai-aydre4uo\" rel=\"noopener\">statement<\/a><span style=\"background-color: transparent;\"> picked up by <\/span><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-05-28\/china-s-citic-mag-group-to-work-on-6-billion-project-in-dubai\" rel=\"noopener\">Bloomberg<\/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>Project overview: <\/strong>The 18.5 mn sq ft master-planned community will be anchored by the Keturah Ardh Couture Art brand and will feature large villa plots ranging from 50k to 200k sq ft. It will also include low-rise towers, offices, retail space, a school, and an AI-focused university.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Development timeline: <\/strong>Infrastructure works and site mobilization are scheduled to begin between 2Q and 3Q 2025, with MAG set to launch plot sales in 2Q. Phase one is set to launch in 4Q 2025, followed by phase two in 1Q 2026. Further phases will roll out until 2027, and the project will be completed within two to seven years. The project has secured all the necessary no-objection certificates, the statement reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Financing: <\/strong>CITIC is expected to contribute a portion of the construction financing for the project, Bloomberg reported, citing statements from senior executive vice chairman Talal Al Ghaddah. The Chinese state-owned conglomerate, one of the world\u2019s largest engineering, procurement, and construction contractors, manages over USD 1.7 tn in assets and operates in more than 160 countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another notch in MAG\u2019s USD 17 bn belt: <\/strong>For MAG, the project adds to a growing pipeline it values at USD 17 bn. The group is also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/cf13f9cb-223f-4185-9781-fa7bf7a8dd58\/%253cmark%253emag%253c%2Fmark%253e-group-to-launch-new-mixed-use-city-near-silicon-oasis\" style=\"\" rel=\"noopener\">planning to launch<\/a> its largest development to date \u2014 an 18 mn sq ft integrated city near Dubai Silicon Oasis and Academic City \u2014 with an estimated sales value of up to AED 50 bn. MAG is simultaneously ramping up its push into tokenized real estate, recently signing a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/2a3262df-400a-4af8-b27a-7c65f960b571\/%253cmark%253emag%253c%2Fmark%253e-plans-to-tokenize-usd-3-bn-real-estate-assets-via-multibank\" style=\"\" rel=\"noopener\">USD 3 bn agreement<\/a> with MultiBank Group and blockchain firm Mavryk to list inventory on a regulated digital assets marketplace. This comes on the heels of a separate USD 500 mn tokenization partnership <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/72cf02a1-753f-4c05-9273-a075e08195cb\/mantra-to-tokenize-usd-1-bn-damac-group-assets-in-the-middle-east\" style=\"\" rel=\"noopener\">with Mantra<\/a>, starting with a Dubai residential project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Next steps:<\/strong> The developers are looking to onboard global designers, fashion houses, and architects for the project. <\/p>\n<p class=\"tag-border-left\"> IN OTHER REAL ESTATE NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Binghatti <\/strong><strong>plans AED 25 bn community in Meydan: <\/strong>Dubai-based developer Binghatti Holding has acquired freehold land in Nad Al Sheba 1, part of Dubai\u2019s Meydan district, to develop its first master-planned residential community, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/projects\/construction\/dubais-binghatti-to-develop-7bln-master-community-in-meydan-district-jlfbzg4l\" style=\"\" rel=\"noopener\">Zawya<\/a> reports, citing a company statement. The project will cover over 8 mn sq ft of gross floor area and is valued at more than AED 25 bn (USD 6.8 bn). The cost of the acquisition, which was self-financed, has not been disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More in the pipeline: <\/strong>Binghatti currently has almost 30 projects underway, which will offer up a total of 20k units, including the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/dd369d64-df79-41fb-aec0-5762dbdae411\/dp-world-and-egypt-ink-mou-to-develop-freezone-in-egypt\" style=\"\" rel=\"noopener\">AED 5 bn Binghatti Skyrise<\/a> in Business Bay, an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/5e533d0f-095c-4daa-98e4-a4e8644bf08d\/us-asset-manager-pgim-launches-first-regional-office-in-adgm\" style=\"\" rel=\"noopener\">AED 4 bn project<\/a> in Al Jaddaf, and an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/cd2c1288-5706-4b47-b065-5fa7f4270a1f\/%253cmark%253ebinghatti%253c%2Fmark%253e-unveils-aed-600-mn-dubai-tower\" style=\"\" rel=\"noopener\">AED 600 mn residential project<\/a> in Jumeirah Village Circle. The company is also exploring <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9737b54b-161c-4e7c-8375-a02d7d909d16\/finance-ministry-to-hold-dialogue-with-state-owned-gcc-firms-next-week-%2B-adia-still-after-db-schenker\" style=\"\" rel=\"noopener\">real estate tokenization<\/a>, with plans to enable investors to enter the market with as little as AED 500.<\/p>\n\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\/binghatti\/\">Binghatti<\/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\" 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class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/abu-dhabis-opportunistic-issuances-make-it-a-top-pick-for-portfolio-investors-experts-say\/\">\r\n                            Abu Dhabi\u2019s \u201copportunistic\u201d issuances make it a top pick for portfolio investors, experts say                        <\/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\/29\/abu-dhabis-opportunistic-issuances-make-it-a-top-pick-for-portfolio-investors-experts-say\/\" target=\"_blank\">\n                    Open 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href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/abu-dhabis-opportunistic-issuances-make-it-a-top-pick-for-portfolio-investors-experts-say\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2413.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"104143\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/abu-dhabis-opportunistic-issuances-make-it-a-top-pick-for-portfolio-investors-experts-say\/2413-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2413.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2413.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2413.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2413.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-104142\" class=\"content-area-description single-story post-104142 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-arqaam-capital tag-debt tag-debt-watch tag-enterpriseam-uae tag-islamic-finance tag-sukuk 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\/.0d7b3bd9-82a7-409d-9fb2-a7ff2c68a6b7.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The GCC region appears to still be doing a good job attracting investors to its bonds an<\/strong><strong>d sukuk market.<\/strong> During a panel at Arqaam Capital\u2019s MENA Investor Conference last week in Abu Dhabi, analysts talked through the different drivers buoying investor appetite for the GCC debt market despite global market jitters, risks that could impact the market \u2014 specifically that of sukuk issuances \u2014 and what issuers need to do in times of uncertainty. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">\u201c<\/strong><strong style=\"background-color: transparent;\">The GCC is the only burgeoning asset class that is dramatically increasing in size<\/strong><strong style=\"background-color: transparent;\">,\u201d <\/strong><span style=\"background-color: transparent;\">Fady Gendy, executive director and senior portfolio manager at Arqaam Capital said at the panel, comparing it to Asia, which also benefits from low volatility but is shrinking in size, and Central Eastern Europe, which has low yields. A deep local investor base helps sustain this low volatility, Gendy said, while strong sovereign support \u2014 which is not as evident in other emerging markets \u2014 also helps boost investor confidence, Jad Raouda, head of emerging markets fixed income sales at Arqaam Capital, added.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The outlook for regional issuances in the near-term is positive<\/strong>, with Gendy expecting significant issuance from Saudi Arabia and Abu Dhabi. Gendy identified Abu Dhabi as his top pick for a portfolio, and is driven by capex and opportunistic circumstances. \u201cWhile Abu Dhabi sovereign issuances trade tight at a very minimal spread of around 20 basis points over US Treasuries, you get a good pick-up if you invest in some of the Abu Dhabi government-related entities like Adnoc Murban, Masdar, Mubadala, ADQ, etc,\u201d he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So is it a good time for issuers to tap debt markets?<\/strong> Omar Musharaf, head of debt solutions and debt capital markets, at Arqaam, says it is better to lock in current rates and be proactive rather than wait amid uncertainty. \u201cIt gives you financial stability and minimizes risk in terms of volatility,\u201d Musharaf, adding that whenever possible, issuers should extend tenors. Issuers seem to be taking that advice, with lots of activity in debt markets seen in the first few months of the year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What types of debt are they looking at? <\/strong>Sukuk has been a popular choice for much of this year. Earlier this month, <a target=\"_blank\" href=\"https:\/\/sobharealty.com\/\" style=\"\" rel=\"noopener\">Sobha Realty<\/a> closed a Reg-S compliant USD 500 mn sukuk, while Sharjah Islamic Bank was sounding out investors for an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/75388f2a-4a80-4028-970c-497c9e666391\/this-morning:-sharjah-islamic-bank-sounds-out-investors-for-at1%253cmark%253e-sukuk%253c%2Fmark%253e-sale-%2B-pay-for-your-flights-with-stablecoin%3F\" style=\"\" rel=\"noopener\">AT1 sukuk issuance<\/a>. Just last month, Dubai-based luxury developer Omniyat <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/505f6fe0-1f6e-4d4d-802b-1ab984196acb\/uae-issuers-are-rushing-into-debt-markets-as-investors-remain-bullish-on-the-uae-amid-tariff-headwinds\" style=\"\" rel=\"noopener\">closed<\/a> its maiden USD 500 mn green sukuk issuance and Adnoc and DP World both closed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/476c40f8-92bc-4500-9508-f87e7215d7b5\/adnoc-closes-usd-1.5-bn-debut%253cmark%253e-sukuk%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">USD 1.5 bn sukuk<\/a>. Meanwhile, Aldar Investment Properties <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/41d53ff1-978d-4a86-be0c-c16b146bbf97\/%253cmark%253ealdar%253c%2Fmark%253e%25e2%2580%2599s-usd-500-mn-green-sukuk-was-7.2x-oversubscribed\" style=\"\" rel=\"noopener\">tapped<\/a> global markets with a USD 500 mn 10-year green sukuk back in March, while Damac <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ae808fa0-ca07-40ad-aa05-6284a6fc177c\/%253cmark%253edamac%253c%2Fmark%253e-prices-usd-750-mn-sukuk-amid-strong-demand\" style=\"\" rel=\"noopener\">returned in February<\/a> with its first benchmark issuance in a year and a half \u2014 a USD 750 mn 3.5-year sukuk. ADQ also took USD 2 bn bonds to market, while state-owned renewables player Masdar closed a USD 1 bn green issuance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local currency issuances have also been gaining popularity<\/strong>, with Musharaf noting that AED-denominated issuances are slowly gaining ground among GREs, though liquidity remains somewhat fragmented. \u201cIf your intention for issuance is liquidity, visibility, or if you need to raise more than USD 500 mn, then USD is still the default,\u201d Musharaf went on to add. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The UAE is expected to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a025801b-96bb-48ac-bee4-be2c50eb041d\/abu-dhabi-gears-up-for-local-debt-issuance\" style=\"\" rel=\"noopener\">issue some USD 8 bn<\/a> in AED-denominated debt in 2025 to help support \u201cthe building of a domestic yield curve,\u201d S&amp;P Global Ratings said previously. Individual emirates and the UAE federal government are expected to issue around USD 18 bn in total debt this year, down from USD 19 bn in 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the sukuk front, upcoming regulations could shake the market. <\/strong>The new Sharia Standard 62 by the Accounting and Auditing Organization for Islamic Institutions (AAOIFI) \u2014 expected to take shape this year, and which would shift the focus from contractual obligations to underlying assets \u2014 could introduce additional risks for investors. Not only will it be more costly, it will also be more complex for issuers, global head of Islamic finance at S&amp;P global rating Mohamed Damak said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cToday, international investors participate without needing to fully understand every technical detail.<\/strong> This wasn't the case 15 years ago,\u201d Raouda said, adding that \u201cthe simplification of structures has made sukuk more accessible, and we must be cautious not to lose that simplicity as regulatory or structural changes come in.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ESG bonds will also continue to gain momentum as oil-exporting countries look to diversify energy sources and reduce their carbon footprint<\/strong>, Damak said, adding that sustainability sukuk in particular could reach USD 20-25 bn by 2028, up from USD 10-12 bn currently.<\/p>\n\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\/arqaam-capital\/\">Arqaam Capital<\/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\/islamic-finance\/\">Islamic finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sukuk\/\">Sukuk<\/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=\"104144\" 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=\"104144\">\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\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/uae-banks-saw-the-biggest-quarterly-growth-in-net-income-in-the-region-in-1q-2025-kamco\/\">\r\n                            UAE banks saw the biggest quarterly growth in net income in the region in 1Q 2025 -Kamco                        <\/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\/29\/uae-banks-saw-the-biggest-quarterly-growth-in-net-income-in-the-region-in-1q-2025-kamco\/\" 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(); 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They were followed by Saudi banks, which netted some USD 338.4 mn in additional net income, and Bahraini banks, which raked in USD 72.6 mn more during the quarter. On a y-o-y growth basis, Qatar and Kuwaiti listed banks recorded declines, while Saudi banks posted double digit growth of 17.2%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">At the country level, UAE-listed banks posted the strongest growth in deposits during the quarter<\/strong><span style=\"background-color: transparent;\">, registering USD 903.8 bn in deposits following a q-o-q growth of 6.7%. Qatari banks came in second place with total customer deposits amounting to USD 438.9 bn with a 6.1% quarterly growth, followed by Saudi Arabia with a 4.8% growth.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia remained the leader of credit growth in the GCC<\/strong>: The kingdom registered a 16.3% y-o-y growth in outstanding credit facilities, marking the strongest double-digit annual growth in the region. The UAE\u2019s credit growth in February 2025 showed a larger y-o-y growth of 24.1%, according to the report. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Burgeoning lending growth in the region is a sign of \u201ca strong project pipeline<\/strong>, although aggregate contracts awarded during the quarter showed a y-o-y decline of 26.8% to reach USD 52.4 bn in 1Q-2025,\u201d the report said. Only the UAE and Kuwait recorded \u201chealth growth\u201d in the contracts awarded, while the rest of GCC countries posted declines during the quarter. Net loans posted a sequential growth of 4.1% during the quarter to reach USD 2.2 tn, the highest in 15 months, while gross loans grew 3.6%, Kamco said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GCC banking s<\/strong><strong>ector bottom-line growth held steady during the first quarter of 2025, rising by 7.1% q-o-q and 8.6% y-o-y <\/strong>to hit a new record high of USD 15.6 bn. \u201cThe increase came despite a decline in net interest income during the quarter and was mainly led by higher non-interest income, lower operating expenses as well as a sharp seasonal decline in impairments during the quarter,\u201d Kamco said. The drop in net interest income was triggered by rate cuts during the second half of 2024 \u201cwith aggregate yield on credit for the GCC banking sector falling by 5 bps to 4.16% in 1Q 2025 as compared to 4.21% in 4Q of 2024.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The GCC banking sector\u2019s aggregate topline also<\/strong><strong> reached a new record high of USD 34.6 bn during the quarter <\/strong>\u2014 though growth was the weakest in four quarters at 0.04%, according to the report. \u201cThe flattish growth was led by a decline in revenues reported by banks in Kuwait and Oman that almost fully offset the increase in revenues registered in other GCC countries,\u201d the report said. Qatari banks saw the biggest increase in revenues with an increase of 2.1% q-oq, followed by Saudi at 1.6%, and UAE at 0.6%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Total customer deposits reported by listed GCC banks hit a new record high of USD 2.65 tn by the end of 1Q, <\/strong>marking 5.1% q-o-q growth, while y-o-y growth came in at 9.9%. \u201cThis was one of the biggest quarterly growths recorded in the GCC and was most likely led by volatility in financial markets that led to an increase in flows towards regional banks deposits,\u201d according to the report. <\/p>\n\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\/banking\/\">banking<\/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\/finance\/\">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=\"104146\" 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=\"104146\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">AVIATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/dubai-aerospace-enterprise-to-sell-75-aircraft\/\">\r\n                            Dubai Aerospace Enterprise to sell 75 aircraft                        <\/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\/29\/dubai-aerospace-enterprise-to-sell-75-aircraft\/\" 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\/29\/dubai-aerospace-enterprise-to-sell-75-aircraft\/')\">\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\/29\/dubai-aerospace-enterprise-to-sell-75-aircraft\/\">\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=Dubai Aerospace Enterprise to sell 75 aircraft&url=https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/dubai-aerospace-enterprise-to-sell-75-aircraft\/\">\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\/29\/dubai-aerospace-enterprise-to-sell-75-aircraft\/&title=Dubai Aerospace Enterprise to sell 75 aircraft\">\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=Dubai+Aerospace+Enterprise+to+sell+75+aircraft+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2025%2F05%2F29%2Fdubai-aerospace-enterprise-to-sell-75-aircraft%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\/29\/dubai-aerospace-enterprise-to-sell-75-aircraft\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1822.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"104147\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/dubai-aerospace-enterprise-to-sell-75-aircraft\/1822-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1822.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1822.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1822.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1822.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-104146\" class=\"content-area-description single-story post-104146 post type-post status-publish format-standard has-post-thumbnail hentry category-aviation tag-aviation tag-dubai-aerospace-enterprise tag-enterpriseam-uae 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\/.5033e62a-af8c-49bf-ba54-9cb48447e0b4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DAE shells <\/strong><strong>out 75 aircraft from its fleet:<\/strong> Dubai Aerospace Enterprise (DAE) has inked agreements to offload 75 air carriers to two undisclosed parties, according to a <a target=\"_blank\" href=\"https:\/\/dubaiaerospace.com\/2025\/05\/28\/dae-completes-us2-0-billion-acquisition-of-nordic-aviation-capital-2\/\" style=\"\" rel=\"noopener\">statement<\/a>. The portfolio includes 50 Embraer E-Jet aircraft, which will be acquired by a specialized leasing company. The remaining 25 off-production jets will be sold to an unnamed financial investor, and DAE will still provide lease, asset, and technical management services on the jets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">What else do we know? <\/strong><span style=\"background-color: transparent;\">Some transactions are still subject to regulatory approvals and closing conditions, yet all are expected to close before the year\u2019s end. Other terms of the agreement were not made public.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The impact: <\/strong>Following the completion of the transaction, the average age of DAE\u2019s fleet will drop, while the average remaining lease term on its passenger fleet will rise, according to the statement. The company\u2019s fleet will also include no Embraer jets, while Boeing aircraft will make up 45% of the firm\u2019s fleet, and Airbus will hold a 42% share. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DAE\u2019s been shuffling up its fleet:<\/strong> The firm acquired 17 aircraft for USD 1 bn after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c8e1f332-aba8-4e25-92ce-884bc6a53cec\/adia-invests-in-biotech-startup-%2B-ignite-energy-access-to-set-up-hq-in-abu-dhabi\" style=\"\" rel=\"noopener\">inking agreements<\/a> with multiple undisclosed counterparties in March, after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/97545990-d29e-4c68-a284-d8474dd5d54b\/biotech-startup-biosapien-raises-usd-7-mn-after-extending-pre-series-a-funding\" style=\"\" rel=\"noopener\">selling seven Airbus and Boeing<\/a> aircraft to K2 Aviation back in January. DAE also finalized its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/1ea18965-d860-458f-85dd-366fb8595e85\/new-cross-border-securities-link-for-nasdaq-dubai-and-astana-international-exchange\" style=\"\" rel=\"noopener\">full acquisition<\/a> of Ireland-based Nordic Aviation Capital (NAC) for an enterprise value of USD 2 bn earlier this month, upping its fleet to 750 owned, managed, or committed aircraft.The firm committed to acquiring a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/1ea18965-d860-458f-85dd-366fb8595e85\/new-cross-border-securities-link-for-nasdaq-dubai-and-astana-international-exchange\" style=\"\" rel=\"noopener\">further 100 aircraft<\/a> from the likes of Airbus, Boeing, ATR, and other trading counterparts earlier this month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Allen Overy Shearman Sterling and KPMG acted as advisors for the transaction. <\/p>\n\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\/aviation\/\">Aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai-aerospace-enterprise\/\">Dubai Aerospace Enterprise<\/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=\"104148\" 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=\"104148\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/dubais-qashio-secures-usd-19-8-mn-for-saudi-entry\/\">\r\n                            Dubai's Qashio secures USD 19.8 mn for Saudi entry                        <\/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\/29\/dubais-qashio-secures-usd-19-8-mn-for-saudi-entry\/\" 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(); 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The round combined equity and non-equity financing and was led by existing investor Rocketship, a Silicon Valley-based venture capital firm. Other participants included <a target=\"_blank\" href=\"https:\/\/www.abnamro.com\/en\/home\" style=\"\" rel=\"noopener\">ABN Ventures<\/a>, MITAA, <a target=\"_blank\" href=\"https:\/\/www.onewayvc.com\/\" style=\"\" rel=\"noopener\">Oneway VC<\/a>, and Luxembourg\u2019s <a target=\"_blank\" href=\"https:\/\/morethancapital.com\/\" style=\"\" rel=\"noopener\">MoreThan Capital<\/a>, as well as MENA banks and family offices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Where will the funds go?<\/strong><span style=\"background-color: transparent;\"> The capital will fund geographic growth and scale its MENA-region B2B fintech loyalty program. The funds will also support regulatory compliance for a planned Saudi market entry. Qashio operates in 22 countries, including the UAE, Europe, and the UK.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Qashio: <\/strong><a target=\"_blank\" href=\"https:\/\/www.qashio.com\/\" style=\"\" rel=\"noopener\">Qashio<\/a> serves SMEs and enterprises across industries, offering corporate cards and embedded financial microservices tailored to sectors like law, consulting, government, travel, hospitality, retail, and e-commerce. Qashio issues local cards in each operating region and multi-currency cards for specific UAE industries. It achieved profitability in 1Q 2025, and has partnered with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7b7fb174-8b8c-4e76-8aa0-4462d7c4e2c8\/%253cmark%253eqashio%253c%2Fmark%253e-and-visa-launch-b2b-travel-payments-solution-with-an-aed-100-mn-investment\" style=\"\" rel=\"noopener\">Visa<\/a> on B2B travel payments and joined Abu Dhabi\u2019s global tech <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/36d7ef5c-289e-4f92-81bf-cdfd9bc1ab02\/multibank-introduces-cfds-%2B-swvl-secures-usd-2-mn-pre-funded-warrants\" style=\"\" rel=\"noopener\">Hub71 ecosystem<\/a>. The fintech raised a USD 10 mn seed round in 2022. <\/p>\n<p class=\"tag-border-left\">OTHER STARTUP NEWS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu <\/strong><strong>Dhabi-based<\/strong> <strong><a target=\"_blank\" href=\"https:\/\/www.vaultwealth.com\/\" style=\"\" rel=\"noopener\">Vault Wealth<\/a><\/strong><strong> has launched its digital private wealth platform target<\/strong><strong>ing high-net-worth-individuals in MENA<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/vault-announces-public-launch-with-latest-investment-from-peak-xv-partners-fnbs56vp\" style=\"\" rel=\"noopener\">press release<\/a>.The launch comes alongside a funding round led by Peak XV (formerly Sequoia Capital India &amp; SEA), with backing from Outliers VC. This marks Peak XV\u2019s first MENA play in wealthtech.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vault Wealth? <\/strong>Licensed by ADGM\u2019s Financial Services Regulatory Authority (FSRA) since mid-2023, Vault offers financial planning, automated portfolio management, and access to global markets to high-net-worth individuals.<\/p>\n\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\/fintech\/\">fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/qashio\/\">Qashio<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startups\/\">startups<\/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=\"104150\" 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=\"104150\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/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\/29\/enbd-reit-orascom-post-earnings\/\">\r\n                            ENBD REIT, Orascom post earnings                        <\/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\/29\/enbd-reit-orascom-post-earnings\/\" 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\/29\/enbd-reit-orascom-post-earnings\/')\">\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\/29\/enbd-reit-orascom-post-earnings\/\">\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=ENBD REIT, Orascom post earnings&url=https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/enbd-reit-orascom-post-earnings\/\">\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\/29\/enbd-reit-orascom-post-earnings\/&title=ENBD REIT, Orascom post earnings\">\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=ENBD+REIT%2C+Orascom+post+earnings+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2025%2F05%2F29%2Fenbd-reit-orascom-post-earnings%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\/29\/enbd-reit-orascom-post-earnings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2335.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"104151\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/enbd-reit-orascom-post-earnings\/2335-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2335.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2335.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2335.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2335.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-104150\" class=\"content-area-description single-story post-104150 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-emirates-nbd tag-enterpriseam-uae tag-orascom-construction tag-real-estate 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\/.9108a6db-c041-4e9e-8ef2-6e26bea35ec1.mp3\"><\/audio><\/figure><p class=\"tag-border-left\"> ENBD REIT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates <\/strong><strong>NBD\u2019s real estate investment trust (ENBD REIT) saw its net income <\/strong><strong>surge <\/strong><strong>61% y-o-y to USD 33.7 mn in its FY 2024-2025<\/strong>, which ended in March, driven by valuation gains, rising rental income, and operational efficiency, according to a <a target=\"_blank\" href=\"https:\/\/www.nasdaqdubai.com\/trading\/disclosures\/39a0f5fc-6f54-4f35-9078-191d61ccef31\" style=\"\" rel=\"noopener\">Nasdaq Dubai disclosure<\/a>. Gross income rose to USD 37.5 mn, up from USD 34.6 mn the previous year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">ENBD REIT\u2019s property portfolio grew 6.9% y-o-y to USD 395 mn<\/strong><span style=\"background-color: transparent;\">, while net asset value jumped 12.3% to USD 218.6 mn (USD 0.87 per share). Occupancy reached a record 95%, up from 93% a year earlier, driven by strong office demand and near-full residential uptake.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Funds from operations \u2014 the REIT\u2019s preferred earnings metric \u2014 surged 45% y-o-y to USD 11.2 mn<\/strong>, supported by stronger leasing and cost discipline. Lower finance costs helped offset a modest rise in operating expenses tied to higher utility and maintenance outlays.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dividends: <\/strong>ENBD REIT proposed a final dividend of USD 5 mn, bringing total dividends for the year to USD 10 mn \u2014 a 33.3% increase y-o-y. The final payout is subject to shareholder approval at the AGM on 25 June.<\/p>\n<p class=\"tag-border-left\"> ORASCOM CONSTRUCTION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Orascom Construction saw its revenues inch up 10.6% y-o-y <\/strong>to record USD 847.6 mn during 1Q 2025, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/2397.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. MEA operations made up 61% of total revenues, bringing in USD 518.7 (up 44.2%), and US operations accounted for the rest, bringing in USD 328.9 mn, marking a 19.1% y-o-y dip. \u201cRevenue in MEA reflects the execution of new large-scale projects while revenue in USA is expected to increase along with new awards during the year,\u201d the release read.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Net income attributable to shareholders fell 45.6% y-o-y<\/strong> to USD 25.1 mn during the quarter. Net income from Middle East and Africa operations was down 52.2% y-o-y as was the income from US operations. The 560% y-o-y increase in net income from OC\u2019s Belgium-based subsidiary BESIX wasn\u2019t enough to offset the dips from MEA and US operations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Behind the dip: <\/strong>Net income for the comparative period \u201cincluded an above-average level of net financing gain that reflected the devaluation of the EGP in March 2024. Excluding this impact, net [income] in Q1 2025 would have reported an increase y-o-y,\u201d the release read. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company\u2019s consolidated backlog increased 20.1% y-o-y to USD 8.7 bn during the <\/strong><strong>three-month period.<\/strong> The increase was the result of the company signing new contracts worth USD 1.6 bn across Saudi Arabia, Egypt and the US. Projects in Egypt made up 59% of the backlog, followed by the US with 16%, and Saudi Arabia with 15%. <\/p>\n\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\/emirates-nbd\/\">Emirates NBD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/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=\"104152\" 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=\"104152\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/drake-and-scull-brings-in-new-cfo-legal-chief\/\">\r\n                            Drake and Scull brings in new CFO, legal chief                        <\/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\/29\/drake-and-scull-brings-in-new-cfo-legal-chief\/\" 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(); 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With over 25 years of experience, Al Sukhon previously served as CFO at National Bonds Corporation and has held senior positions at Al Hilal Bank, KPMG, and PwC.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The firm also tapped <strong>Ahmed El Bayouk<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/aelbayouk\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as group general counsel and head of legal. El Bayouk was a senior associate at Dentons\u2019 Middle East Construction practice, where he worked on regional infrastructure disputes. He\u2019s also a solicitor in England and Wales, an arbitrator at the Dubai International Arbitration Center, and a registered practitioner with the DIFC Courts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adnoc <\/strong><strong>Logistics<\/strong><strong> and Services\u2019 general counsel Andrew Baird (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/andrew-baird-1a78073a\/?originalSubdomain=uk\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>) has ret<\/strong><strong>ired<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/2364.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. Associate general counsel Gordon Inkson (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/gordon-inkson\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) will oversee legal, governance, and compliance in the interim while the company searches for a permanent successor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong><strong>Ajman <\/strong><strong>Bank <\/strong>has appointed<strong> Tahir Turksoy <\/strong>(<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/tturksoy\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as<strong> head of Fintech and<\/strong><strong> AI <\/strong>in its<strong> consumer banking division<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/ajman-bank_ajman-bank-has-announced-the-appointment-activity-7333483107267821568-Pco6\/\" style=\"\" rel=\"noopener\">statement<\/a>. Turksoy will spearhead the bank\u2019s digital transformation agenda, with a focus on innovation and customer-centric digital banking. He brings with him over 20 years of experience, having led digital initiatives at National Bonds, Mashreq Bank, First Gulf Bank, and DenizBank.<\/p>\n\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-logistics-and-services\/\">Adnoc Logistics and Services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/drake-and-scull\/\">Drake and Scull<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/moves\/\">MOVES<\/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=\"104154\" 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=\"104154\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/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\/29\/hub71-yas-investments-partner-on-startup-investments\/\">\r\n                            Hub71, Yas Investments partner on startup nvestments                        <\/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\/29\/hub71-yas-investments-partner-on-startup-investments\/\" 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(); 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Yas Investments will use Hub71\u2019s <a target=\"_blank\" href=\"https:\/\/www.techbarza.com\/\" style=\"\" rel=\"noopener\">Tech Barza<\/a> platform \u2014 a private network connecting family offices with startups \u2014 to channel long-term capital, corporate collaboration, and guidance.<\/p>\n<p class=\"tag-border-left\"> HOSPITALITY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cristal <\/strong><strong>Group to build hotel in Erbil: <\/strong>Hospitality developer and operator Cristal Group has inked an agreement with Petra Castle Company to build the Grand Cristal Erbil hotel in Iraq\u2019s Kurdistan region, 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\/%D9%85%D8%AC%D9%85%D9%88%D8%B9%D8%A9-%D9%83%D8%B1%D9%8A%D8%B3%D8%AA%D8%A7%D9%84-%D8%AA%D9%8F%D8%B7%D9%84%D9%82-%D9%81%D9%86%D8%AF%D9%82-%D8%AC%D8%B1%D8%A7%D9%86%D8%AF-%D9%83%D8%B1%D9%8A%D8%B3%D8%AA%D8%A7%D9%84-%D8%A3%D8%B1%D8%A8%D9%8A%D9%84-%D8%B6%D9%85%D9%86-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%A9-%D8%AA%D8%A7%D8%B1%D9%8A%D8%AE%D9%8A%D8%A9-%D9%85%D8%B9-%D8%B4%D8%B1%D9%83%D8%A9-%D9%82%D9%84%D8%B9%D8%A9-%D8%A7%D9%84%D8%A8%D8%AA%D8%B1%D8%A7%D8%A1%D8%8C-%D9%84%D9%8A%D8%B4%D9%83%D9%91%D9%84-%D8%A5%D8%B6%D8%A7%D9%81%D8%A9-%D9%85%D8%AA%D9%85%D9%8A%D8%B2%D8%A9-xn6paxrv\" style=\"\" rel=\"noopener\">press release<\/a>. The property is expected to open in 4Q 2028 and will be designed by regional architecture firm Arif and Bintoak, whose project portfolio includes the Burj Khalifa.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The 210-key hotel will offer luxury rooms and suites, food and beverage outlets across two floors, and large events halls. Cristal\u2019s portfolio includes four hotels across the emirates, Saudi Arabia, and Iraq, with a further five new projects under development.<\/p>\n<p class=\"tag-border-left\"> FINANCIAL SERVICES- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Comera <\/strong><strong>Finance receives CBUAE approval for NBFC license: <\/strong>Comera Finance, a subsidiary of Abu Dhabi-based tech company Comera Financial Holding, which is backed by Abu Dhabi\u2019s Royal Group, has secured in-principle approval from the Central Bank of the UAE (CBUAE) to operate as a non-banking financial services company, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/comera-finance-receives-in-principle-approval-from-the-central-bank-of-uae-for-a-finance-company-license-owhs7dal\" style=\"\" rel=\"noopener\">press release<\/a>. Comera Finance plans a 3Q 2025 public launch. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The company will offer retail lending, including credit cards, personal loans, mortgages, and vehicle finance, as well as options for SMEs and corporations like letters of credit, bank guarantees, working capital, performance bonds, and supply chain finance. It will also integrate with the UAE\u2019s Aani instant payment platform and will support Jaywan card issuance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Crypto firm XBTO gets ADGM greenlight for 3A license:<\/strong> Crypto investment firm XBTO has secured full approval for a Financial Services Permission (FSP) under the 3A license category from ADGM\u2019s Financial Services Regulatory Authority (FSRA), according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/xbto-receives-full-3a-licence-approval-from-adgm-faj0gdd5\" style=\"\" rel=\"noopener\">press release<\/a>. The license authorizes XBTO to offer services including custody, investment advising, arranging transactions for institutional clients including family offices and sovereign wealth funds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About XBTO:<\/strong> XBTO offers institutional strategies across asset management and capital markets. It operates under regulatory oversight in Bermuda and Abu Dhabi, has offices in New York, London, and Paris, and is part of Hub71\u2019s digital assets cohort.<\/p>\n<p class=\"tag-border-left\"> DECARBONIZATION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Fanar Gas <\/strong><strong>+ Siemens to develop decarbonization solutions: <\/strong>Al Fanar Gas Group, EHC Investment\u2019s subsidiary, and Siemens Energy agreed to develop clean energy and decarbonization solutions across the UAE, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/al-fanar-gas-group-and-siemens-energy-sign-strategic-mou-to-collaborate-on-clean-energy-and-decarbonization-nxae8r03\" style=\"\" rel=\"noopener\">press release<\/a>. The two firms will collaborate on integrating advanced digital technologies into energy and industrial infrastructure, with a focus on hydrogen and Power-to-X technologies, flare gas capture and utilization, and the electrification of ports and vessels.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Abu Dhabi-based Enterprise Holding Company Investment\u2019s (EHC) energy arm Emirates International Gas acquired 100% of gas services provider Al Fanar Gas Group <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/60340792-0e1c-413f-8c52-64b0794ecc52\/\" style=\"\" rel=\"noopener\">in March<\/a> as part of a push to expand EHC\u2019s portfolio.<\/p>\n\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\/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\/central-bank-of-the-uae\/\">Central Bank of the UAE<\/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\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-services-regulatory-authority\/\">Financial Services Regulatory Authority<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/hub71\/\">Hub71<\/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\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startups\/\">startups<\/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=\"104156\" 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=\"104156\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/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\/29\/wall-street-banks-eye-dipping-toes-into-crypto-amid-regulatory-changes\/\">\r\n                            Wall Street banks eye dipping toes into crypto amid regulatory changes                        <\/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\/29\/wall-street-banks-eye-dipping-toes-into-crypto-amid-regulatory-changes\/\" 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(); 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Despite 22% of Americans holding cryptocurrencies \u2014 or one in five \u2014 according to Gemini Trust's&nbsp;<a target=\"_blank\" href=\"https:\/\/www.gemini.com\/state-of-crypto-2025\" style=\"\" rel=\"noopener\">Global State of Crypto report<\/a> for 2025, large American banks have so far mostly been prevented from jumping on the bandwagon due to heavy regulations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Change is coming, but it will come slowly<\/strong><span style=\"background-color: transparent;\"> <\/span><strong style=\"background-color: transparent;\">at first<\/strong><span style=\"background-color: transparent;\">, the newswire\u2019s sources said. Any moves into crypto will be small in scale at first, in the form of partnerships with crypto firms and in pilot programs as they test the limits of incoming regulations and try to avoid any potential legal blowback. Although guidelines have become clearer, the banking sector is still calling for more details on what they can and cannot do when it comes to once legal, difficulty-fraught digital tokens.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US President Donald Trump has been key in driving the push<\/strong>, with the self-described first \u201dcrypto president\u201d on talking up plans to reduce crypto regulations and create a strategic BTC reserve, both on the campaign trail and in the Oval Office.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>His companies have been getting in on the action too<\/strong>, with the Trump Media and Technology Group planning to raise USD 2.5 bn to buy up crypto.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But there are still some big names on Wall Street who are proudly standing by their <\/strong><strong>crypto scepticism<\/strong>, including JPMorgan CEO Jamie Dimon who as recently as last week said that \u201cwhen I look at the [BTC] universe, the leverage in the system, the misuse in the system, the money laundering issues, trafficking, I'm not a fan of it.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>BTC reached a new all-time high in trading at the end of last week, surpassing its previous January peak to reach USD 111.9k, before paring back gains. The digital currency is up 12.9% this month alone and 14.8% YTD, after having spent much of the year in the red YTD on the back of trade war escalation fears pushing some to let go of the asset.<\/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 in the green in early trading this morning. <\/strong>Japan\u2019s Nikkei and the Kospi are looking at gains of 1.6%, the Shanghai Composite and the Hang Seng are also in the green, up 0.4% and 0.2%, 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\">9,743<\/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: +3.4%)<\/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>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\">5,527<\/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\">+0.4% (YTD: +7.1%)<\/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>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\">4,569<\/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\">+0.9% (YTD: +9.7%)<\/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\">4.2% 1 yr<\/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>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\">11,053<\/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\">+1.2% (YTD: -8.3%)<\/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\">32,494<\/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\">+0.3% (YTD: +9.2%)<\/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>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\">5,889<\/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\">-0.6% (YTD: +0.1%)<\/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>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\">8,726<\/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\">-0.6% (YTD: +6.8%)<\/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>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\">5,378<\/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: +9.9%)<\/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>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 64.90<\/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\">+1.3%<\/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>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 3.20<\/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\">-5.7%<\/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>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 3,312<\/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\">-0.3%<\/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>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 107,423<\/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\">-1.2% (YTD: +14.8%)<\/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>Chimera JP Morgan UAE Bond UCITS ETF<\/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 3.65<\/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\">+2.2% (YTD: +2.4%)<\/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>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\">143.3<\/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: +2.4%)<\/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>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\">19.31<\/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% (YTD: +11.3%)<\/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 up 0.4% yesterday<\/strong> on turnover of AED 450.8 mn. The index is up 7.1% 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 Residential REIT (+13.6%), National General Ins. (+9.9%) and Gulf Navigation Holding (+9.0%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>United Foods Company (-10.0%), Al Mazaya Holding Company (-8.3%) and Emirates Investment Bank (-6.9%). <\/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 0.7% on turnover of AED 1.9 bn. Meanwhile, Nasdaq Dubai was up 0.9%.<\/p>\n\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\/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=\"104158\" 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\/29\/104158-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-104158\" class=\"content-area-description single-story post-104158 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;\">26-30 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>28-31 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 style=\"font-weight:400;\">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;\">5 June (Thursday): Arafat Day, public holiday. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6-9 June (Friday-Tuesday) Eid Al Adha, public holiday TBD. <\/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\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            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