{"id":105859,"date":"2025-07-24T00:00:00","date_gmt":"2025-07-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=105859"},"modified":"2025-12-15T04:26:38","modified_gmt":"2025-12-15T04:26:38","slug":"fitchs-bmi-cuts-uaes-gdp-growth-forecast-on-weaker-non-oil-growth","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/fitchs-bmi-cuts-uaes-gdp-growth-forecast-on-weaker-non-oil-growth\/","title":{"rendered":"Fitch\u2019s BMI cuts UAE\u2019s GDP growth forecast on weaker non-oil growth"},"content":{"rendered":"<section id=\"105861\" 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=\"105861\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/07\/24\/this-morning-three-or-five-ipos-before-the-end-of-the-year-cbuae-presight-form-tech-jv-focused-on-financial-markets\/\">\r\n                            THIS MORNING: Three or five IPOs before the end of the year? + CBUAE, Presight form tech JV focused on financial 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\/07\/24\/this-morning-three-or-five-ipos-before-the-end-of-the-year-cbuae-presight-form-tech-jv-focused-on-financial-markets\/\" 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\/07\/24\/this-morning-three-or-five-ipos-before-the-end-of-the-year-cbuae-presight-form-tech-jv-focused-on-financial-markets\/')\">\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\/07\/24\/this-morning-three-or-five-ipos-before-the-end-of-the-year-cbuae-presight-form-tech-jv-focused-on-financial-markets\/\">\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=THIS MORNING: Three or five IPOs before the end of the year? 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Also: Space42 landed funding from European banks for its Al Yah satellites. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Plus:<\/strong> We have earnings from First Abu Dhabi Bank, Abu Dhabi Islamic Bank, and Commercial Bank of Dubai, as well as NMDC Energy. Let\u2019s dive in. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER<\/strong><strong>- It could get foggy today due to the humidity, but at least temperatures are on<\/strong><strong> the milder side.<\/strong> The mercury in <strong>Dubai <\/strong>is expected to reach a high of 40\u00b0C, before cooling to 35\u00b0C overnight. In <strong>Abu Dhabi<\/strong>, daytime highs will also reach 40\u00b0C, with lows of 32\u00b0C.<\/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>The<\/strong><strong> UAE could see between three to five IPOs before year-end<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/capital-markets\/equities\/uae-could-see-up-to-five-ipos-before-year-end-says-citi-jlshcdh5\" style=\"\" rel=\"noopener\">Zawya<\/a> quotes Citi Managing Director and head of MENA equity capital markets Rudy Saadi as saying. Saadi pointed to a healthy pipeline that includes <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/918d9977-77ec-41f2-a515-70b01ddc9703\/dubizzle-taps-new-banks-for-2025%253cmark%253e-ipo%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Dubizzle<\/a>, <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\">Five Holdings<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4d0b51bd-2112-439e-9961-4d250c1169be\/state-backed%253cmark%253e-alec%253c%2Fmark%253e-engineering-targets-usd-500-mn-ipo-in-mid-2025\" style=\"\" rel=\"noopener\">Alec<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4d0b51bd-2112-439e-9961-4d250c1169be\/state-backed%253cmark%253e-alec%253c%2Fmark%253e-engineering-targets-usd-500-mn-ipo-in-mid-2025\" style=\"\" rel=\"noopener\">Engineering<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/695e2b55-e32c-477c-b179-a8faf913cae0\/this-morning:%253cmark%253e-etihad%253c%2Fmark%253e-to-push-back-its-ipo-to-after-eid-al-fitr-%2B-real-gdp-grew-3.8%2525-in-9m-2024\" style=\"\" rel=\"noopener\">Etihad Airways<\/a>, and <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\">IHC\u2019s 2PointZero<\/a>. While fewer privatizations may give the impression of a quieter market, Saadi said investor appetite remains strong, and remains optimistic about activity in 2H and 1H 2026. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>He chalked up delays in listings to regulatory approvals or shareholder timing preferences<\/strong>, rather than weak demand, saying that investors are always looking at the UAE and Saudi Arabia since they are the GCC\u2019s most active markets. \u201cIPOs will still launch and price, but not at any valuation given the higher scrutiny,\u201d he said, attributing the scrutiny to the \u201cdifficult business models\u201d of some firms. <\/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>#2- One of the biggest and most-anticipated IPO targets, Etihad Airways, still ha<\/strong><strong>s its eyes set firmly on expansion<\/strong>, with some 18 aircraft expected to be onboarded before year-end, CEO Antonoaldo Neves told state news agency <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/bkttnhf-etihad-airways-targets-215-million-passengers-new\" style=\"\" rel=\"noopener\">Wam<\/a>. The carrier \u2014 which has transported 10 mn passengers in 1H 2025 \u2014 aims to grow its fleet to 115-120 aircraft as well as handle 21.5 mn passengers by the end of 2025. It has already acquired two aircraft and is awaiting 16 more deliveries in the upcoming months. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yes, but\u2026:<\/strong> That\u2019s assuming no delays from manufacturers, though Neves said the airline planned accordingly and leased aircraft and reintroduced seven A380 aircrafts into service to accommodate the delays.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A stronger market push:<\/strong> The carrier is looking to boost its market presence, with a specific focus on markets within a four-hour flight range, including Middle East, India, and Pakistan, he noted. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The airline <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3261fa8a-9604-492d-88c8-a0108899f5fa\/uae,-us-ink-usd-200-bn-investment-agreements-in-ai,-critical-minerals,-and-energy\" style=\"\" rel=\"noopener\">invested USD 14.5 bn<\/a> for 28 Boeing 787 and 777X aircraft manufactured in the US by GE engines in May. Neves said in April Etihad plans to add 20 to 22 new planes this year in a bid to meet its target of 170 planes by 2030. The carrier was expected to IPO earlier this year with a 20% stake floated for USD 1 bn in proceeds, but the IPO was pushed back several times. <\/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>#3- <\/strong><strong>Citigroup <\/strong><strong>to bolster MENA headcount: <\/strong><a target=\"_blank\" href=\"https:\/\/www.citigroup.com\/global\" style=\"\" rel=\"noopener\">Citigroup<\/a> \u2019s private banking arm is planning to bring in new hires for its Dubai, Abu Dhabi, and Saudi Arabia operations, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-23\/citi-targets-middle-east-money-with-push-to-hire-private-bankers?srnd=all\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing comments made by the bank\u2019s head of UK, Europe, and Middle East James Holder. Citigroup recently tapped <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b121ff5a-eb4c-49c2-a804-0183f9d21e16\/citigroup-taps-carmen-haddad-as-vice-chair-to-its%253cmark%253e-middle%253c%2Fmark%253e%253cmark%253e-east%253c%2Fmark%253e-private-bank\" style=\"\" rel=\"noopener\">Carmen Haddad<\/a> as vice chair of its Middle East private bank, and the hiring strategy comes as financial players look to tap into lucrative investment programs amid economic diversification efforts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>#4- <\/strong><strong>The<\/strong> <strong>Central Bank of the UAE (CBUAE) and AI firm Presight are <\/strong><strong>launching a joint venture<\/strong>, which will deploy AI-powered technology platforms for the UAE\u2019s financial market tech stack, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1528.pdf\" style=\"\" rel=\"noopener\">press release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1528.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. As part of CBUAE\u2019s two-year digital transformation agenda, the entity will develop, maintain, and support critical IT infrastructure for financial markets, including for its central bank digital currency, instant payments platform Aani, domestic card scheme Jaywan, and the open finance network. It could also include developing a real-time gross settlement system. <\/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>#5- EAD publishes climate change adaptation roadmap for Abu Dhabi: <\/strong>Abu Dhabi\u2019s Environmental Agency has launched a 25-year roadmap to protect Abu Dhabi\u2019s natural resources from the growing threats of climate change, according to a <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/environment\/environment-agency-abu-dhabi-launches-abu-dhabi-climate-change-adaptation-plan-for-the-environment-sector-2025-2050\/\" style=\"\" rel=\"noopener\">statement<\/a>. The plan, covering through 2050, was developed under the <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1522.pdf\" style=\"\" rel=\"noopener\">Abu Dhabi Climate Change Strategy 2023-2027 (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know: <\/strong>While the details of the actual plan and its key action points are scant, it focuses on three vulnerable environmental systems \u2014 groundwater, soil, and biodiversity. It also identifies 142 climate adaptation actions, including 86 high-priority projects scheduled for implementation over the next five years. These include a mix of nature-based, technical, and institutional solutions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EAD\u2019s plan is the first of four sectoral adaptation plans set to roll out under the emirate-wide climate adaptation strategy. <\/strong>Upcoming plans will address the energy, health, and infrastructure sectors. <\/p>\n<p class=\"tag-border-left\">DATA POINTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#1- <\/strong><strong>Record <\/strong><strong>2Q boosts 1H results for Dubai real estate: <\/strong>Dubai logged a total of 94.5k residential transactions in 1H 2025, up 27% y-o-y, according to Knight Frank\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1518.pdf\" style=\"\" rel=\"noopener\">Dubai Residential Market Review (pdf)<\/a>. Total sales value surged 41% y-o-y to AED 267.7 bn during the six months, with 2Q alone seeing more than 50k sales \u2014 the first time Dubai has crossed that threshold in a single quarter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Luxury demand is rewriting the record book: <\/strong>Home sales priced over USD 10 mn reached AED 9.5 bn in 2Q \u2014 the highest quarterly total on record \u2014 with a total of 143 luxury agreements signed. For the first time since 2Q 2023, apartments in this segment outpaced villas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Recent ValuStrat data showed that quarterly price growth <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bbc601f4-98d4-403c-86e5-04774980ca15\/dubai-property-prices-continue-to-rise,-but-growth-slows-in-2q-2025\" style=\"\" rel=\"noopener\">eased to 4.7% in 2Q 2025<\/a> from 6.4% a year earlier, with apartment values rising 3.4% and villas 6% q-o-q.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#2- 1H also saw a 30% surge in daily average gold trading<\/strong>, with the <a target=\"_blank\" href=\"https:\/\/www.dgcx.ae\/\" style=\"\" rel=\"noopener\">Dubai<\/a><a target=\"_blank\" href=\"https:\/\/www.dgcx.ae\/\" style=\"\" rel=\"noopener\">Gold a<\/a><a target=\"_blank\" href=\"https:\/\/www.dgcx.ae\/\" style=\"\" rel=\"noopener\">nd<\/a><a target=\"_blank\" href=\"https:\/\/www.dgcx.ae\/\" style=\"\" rel=\"noopener\">Commodities Exchange<\/a> (DGCX) seeing over 1 mn contracts traded by the end of June, according to a <a target=\"_blank\" href=\"https:\/\/www.dgcx.ae\/news\/2025\/Dgcx-reports-strong-h1-2025-performance-with-over-1-million-contracts-led-by-increased-gold-and-inr-quanto-futures-demand\" style=\"\" rel=\"noopener\">press release<\/a>. The exchange\u2019s shariah-compliant gold spot contract volumes saw a 199.8% y-o-y increase in the value of its trades. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The uptick was attributed to geopolitical volatility triggering more demand for hedging instruments.<\/strong> INR quanto futures contracts, which allow investors to hedge INR exposure against the USD without direct market access, were also popular, suggesting investors are looking to spread risk exposure. <\/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>#3- <\/strong><strong>Gross <\/strong><strong>bank assets in the UAE grew 0.6% m-o-m to AED 4.7 tn in April 2025<\/strong>, according to the Central Bank of the UAE\u2019s (CBUAE) latest monetary and banking developments <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1535.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a>. Gross credit increased 0.9% m-o-m to AED 2.2 tn, driven by a AED 12.3 bn rise in domestic credit and AED 7.1 bn in foreign credit. Within domestic credit, lending to the private sector rose by 0.6%, to government-related entities by 1.2%, and to the government sector by 0.7%, while credit to non-banking financial institutions fell 4.3%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Total bank deposits rose 1.0% m-o-m to AED 2.97 tn<\/strong>, supported by a 10.9% jump in non-resident deposits, which reached AED 275.6 bn. Resident deposits rose marginally by 0.1% to AED 2.69 tn. Within that, private sector deposits rose 1.1%, government sector deposits grew 0.9%, while deposits from non-banking financial institutions declined 9.2% and government-related entities fell 6.5%. <\/p>\n<p class=\"tag-border-left\">PSA- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You\u2019ll have to settle any<\/strong><strong> incurred traffic fines in Dubai before you can modify your visa <\/strong><strong>status<\/strong>, following new rules issued by Dubai\u2019s General Directorate of Residency and Foreigners Affairs, <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/news\/uae\/2025\/07\/23\/dubai-links-traffic-fine-payments-to-visa-renewal\/\" style=\"\" rel=\"noopener\">The National<\/a> reports. All outstanding traffic fines will need to be resolved before you can access immigration services, including visa application, renewal, or cancellation. The authority will work with Dubai Police to cross-check applications.<\/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 a busy morning in the foreign press<\/strong>, with more updates on tariffs and trade agreements, a handful of high-profile earnings, and updates on the Epstein files debacle in the US. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US President Donald Trump seemed to indicate that reciprocal tariffs would come in at a minimum of 15%<\/strong>, higher than the 10% baseline tariff he had announced earlier, and a maximum of 50%. It\u2019s not clear whether this is Trump causing panic, or if it\u2019s true, given that the administration had announced a universal 10% tariff earlier in April and Commerce Secretary Howard Lutnick clarified earlier this week that many African countries, as well as Latin American and Caribbean countries, would be subject to a 10% tariff. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-23\/trump-says-countries-will-face-tariffs-ranging-from-15-to-50?srnd=homepage-middle-east&amp;embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Gulf countries have been subject to a blanket 10% tariff <\/strong>that the US maintained with most countries after the 9 April 90-day freeze of higher tariffs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ALSO- The US and the EU are reportedly nearing an agreement for a 15% tariff on imports from the bloc<\/strong>, mirroring the US\u2019 agreement with Japan earlier this week. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/460b7784-88d7-4324-9e4d-dc9692d15e72\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/business\/2025\/jul\/23\/eu-100bn-no-deal-plan-trump-tariffs-threat-us-imports\" style=\"\" rel=\"noopener\">Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/eu-us-heading-towards-15-tariff-deal-eu-diplomats-say-2025-07-23\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>American newspapers\u2019 front pages are almost all topped by news that Trump was briefed about his name being in files related to the Jeffrey Epstein case<\/strong>, making it more concerning that Trump has refused to make the files public. A House subcommittee for the first time voted to subpoena the administration for the files later last night. Sources told <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2025\/07\/23\/politics\/bondi-trump-epstein-list-files\" style=\"\" rel=\"noopener\">CNN<\/a> that the briefing was \u201croutine\u201d and revealed nothing new, since Trump was already known to be an associate of Epstein\u2019s. (<a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2025\/07\/23\/us\/trump-news\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/justice-department-told-trump-name-in-epstein-files-727a8038?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/politics\/2025\/07\/23\/democrats-epstein-house-recess\/\" style=\"\" rel=\"noopener\">Washington Post<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND IN EARNINGS NEWS- <\/strong><\/p>\n<ul>\n<li><strong>Shares in Tesla fell 5% in after-hour trading<\/strong> after CEO Elon Musk said on an earnings call that the EV maker is in for a \u201crough few quarters.\u201d The company posted a sharp decline in revenues and sales in 2Q 2025. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2025-07-23\/tesla-sales-fall-most-in-a-decade-in-rough-second-quarter\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/earnings\/tesla-earnings-q2-tsla-stock-f94405d3?mod=hp_lead_pos3\" style=\"\" rel=\"noopener\">WSJ<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/756a5bee-ca40-4dce-8d31-e738af1d989f\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/updates-tesla-q2-earnings-musk-qa-2025-07-23\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<li><strong>Google owner Alphabet posted double-digit net income growth in 2Q 2025<\/strong> on the back of strong cloud and search engine growth. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/05ddf6f8-87b0-4015-b7a4-20c3f8d3d96e\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/07\/23\/alphabet-google-q2-earnings.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/li>\n<\/ul>\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. 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class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/07\/24\/bmi-trims-its-growth-forecast-for-the-uae-to-4-3-in-2025\/\">\r\n                            BMI trims its growth forecast for the UAE to 4.3% in 2025                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1357.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"105865\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2025\/07\/24\/bmi-trims-its-growth-forecast-for-the-uae-to-4-3-in-2025\/1357-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1357.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1357.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1357.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1357.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-105864\" class=\"content-area-description single-story post-105864 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-fitch-ratings tag-gdp 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\/8\/.2daa5479-2d1e-43aa-bc98-fcd4f2a10a76.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Fitch Soluti<\/strong><strong>ons\u2019 research unit BMI lowered its GDP growth forecast for the <\/strong><strong>UAE to <\/strong><strong>4.3% in 2025<\/strong>, down from its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/296987da-1f7a-4b05-804f-da96e37797e0\/bmi-downgrades-uae%25e2%2580%2599s-growth-forecast,-citing-weaker-oil-prices-and-global-demand\" style=\"\" rel=\"noopener\">earlier prediction of 4.6%<\/a> but still faster than the 4% recorded last year, it said in a recent <a target=\"_blank\" href=\"https:\/\/www.fitchsolutions.com\/bmi\/country-risk\/uae-growth-will-accelerate-2025-despite-global-and-regional-headwinds-18-07-2025?fSWebArticleValidation=true&amp;mkt_tok=NzMyLUNLSC03NjcAAAGb1JNyDSKCgKjyNnAkBCdY8mZGXNxOaSktajyuptPeoG-QlQ8006EI57ITABpYCog7lb4ZoogaSnQMRbb0nMI0sITNUxzaPV_44-GVSPtuUQUMU8PQcA\" style=\"\" rel=\"noopener\">research note<\/a>. However, its prediction for next year remains unchanged, with growth of 5.6% pencilled in. <\/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 rationale: <\/strong><span style=\"background-color: transparent;\">The downgrade is primarily attributed to a sharper than expected drop in non-oil activity so far this year. BMI now sees non-oil growth coming in at 4.2% this year rather than 4.7% \u2014 down from the 5% growth seen last year. Fallout from the Israel-Isran conflict, market uncertainty on the back of US trade tariffs, and lower oil prices are also dampening the outlook, the research unit said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi\u2019s growth prediction was also trimmed\u2026:<\/strong> BMI revised its forecast for Abu Dhabi\u2019s growth in 2025 to 5%, down from 5.5%. The revision comes after 1Q saw the emirate record 3.4% y-o-y growth\u2014 short of BMI\u2019s projections of 4.2% y-o-y growth. The tempered growth was attributed to \u201cto weaker performance in the non-hydrocarbon sector,\u201d with the transport, financial, construction, and storage sectors taking the hardest hit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2026 as was Dubai\u2019s: <\/strong>The research unit also lowered its growth forecast for Dubai this year to 2.7%, down from 3%. This was due to a decline in the purchasing managers\u2019 index for the UAE to an average of 53.4 in 1H this year, a drop from its 56.2 average for the same period last year, on the back of global uncertainty from trade tensions and elevated regional risks, which impacted sentiment and new business.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> The UAE\u2019s non-oil private sector saw a slight improvement in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/8f15ae51-fd25-43ec-89f1-16bd1a0cb1fa\/%253cmark%253enon%253c%2Fmark%253e-%253cmark%253eoil%253c%2Fmark%253e-sector-sees-marginal%253cmark%253e-growth%253c%2Fmark%253e-in-june-as-demand-dips-on-regional-tensions\" style=\"\" rel=\"noopener\">June<\/a> despite a slowdown in demand on the back of regional tensions, with the S&amp;P Global PMI edging up to 53.5 from 53.3 in May.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Things are expected to only go up from here<\/strong>, especially as the oil sector continues to benefit from the phased output hikes from Opec+, which are expected to boost oil sector growth to 8.7% next year, the research note said. The UAE\u2019s non-oil sector is also expected to strengthen, further boosting overall growth. Looser monetary policy, a recovering tourism industry, and more investment as geopolitical tensions subside are expected to support economic activity. Further support will come from significant public investment in infrastructure projects and ongoing reforms.<\/p>\n<p><strong>There are still some downside risks<\/strong>, as any renewed escalation in geopolitical tensions would severely hit tourism, investment, and airport activity, as well as trigger an exodus from the foreign workforce. Any sharp drop in oil prices could also undermine public investment if it prompts spending cuts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How does this compare to other forecasts? <\/strong>BMI\u2019s forecast is very slightly lower than the Central Bank of the UAE\u2019s (CBUAE), which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/68ac25dc-383b-47b6-b43e-bb7d305ad29c\/cbuae-revises-down-its-growth-forecast-for-the-uae-to-4.4%2525-in-2025\" style=\"\" rel=\"noopener\">revised<\/a> down in June its growth forecast for the UAE this year to 4.4% in 2025. It\u2019s more optimistic than the IMF\u2019s, though, which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/261164f9-698a-4536-8e53-af67349d9b67\/%253cmark%253eimf%253c%2Fmark%253e-maintains-the-uae%25e2%2580%2599s-gdp-growth-forecast-at-4%2525\" style=\"\" rel=\"noopener\">maintained<\/a> its UAE-wide growth forecast, leaving it unchanged at 4% for 2025, among the highest in the GCC. Meanwhile, the World Bank <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/47aa8f7c-030c-4855-8d94-e9ae5ee7d7fd\/%253cmark%253eworld%253c%2Fmark%253e%253cmark%253e-bank%253c%2Fmark%253e-upgrades-growth-forecast-for-the-uae,-citing-increased-oil-production-and-non-oil-momentum\" style=\"\" rel=\"noopener\">raised<\/a> its GDP growth forecast for the UAE to 4.6% in 2025, citing increased oil production and non-oil momentum.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the non-oil front<\/strong>, Capital Economics had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6ee686fa-8551-42aa-95b9-447f99118ec8\/this-morning:-ega-to-take-action-against-guinea%3F-%2B-sequoia-under-fire-after-partner%25e2%2580%2599s-anti-muslim-remarks\" style=\"\" rel=\"noopener\">penciled in<\/a> an expansion of 5.5% for the sector, up from 5% last year, on the back of strong retail and tourism growth, while CBUAE predicted that non-oil growth is set to slow down to 4.5% this year, down from the 5% growth seen in 2024. The IMF sees the UAE\u2019s non-oil GDP growing by 4.5% this year, with tourism, public spending, construction, and financial services driving growth.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fitch-ratings\/\">Fitch Ratings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"105866\" 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=\"105866\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/07\/24\/multiply-group-is-the-new-majority-shareholder-of-spanish-retail-group-tendam\/\">\r\n                            Multiply Group is the new majority shareholder of Spanish retail group Tendam                        <\/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\/07\/24\/multiply-group-is-the-new-majority-shareholder-of-spanish-retail-group-tendam\/\" 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\/07\/24\/multiply-group-is-the-new-majority-shareholder-of-spanish-retail-group-tendam\/')\">\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\/07\/24\/multiply-group-is-the-new-majority-shareholder-of-spanish-retail-group-tendam\/\">\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=Multiply Group is the new majority shareholder of Spanish retail group Tendam&url=https:\/\/enterpriseam.com\/uae\/2025\/07\/24\/multiply-group-is-the-new-majority-shareholder-of-spanish-retail-group-tendam\/\">\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\/07\/24\/multiply-group-is-the-new-majority-shareholder-of-spanish-retail-group-tendam\/&title=Multiply Group is the new majority shareholder of Spanish retail group Tendam\">\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=Multiply+Group+is+the+new+majority+shareholder+of+Spanish+retail+group+Tendam+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2025%2F07%2F24%2Fmultiply-group-is-the-new-majority-shareholder-of-spanish-retail-group-tendam%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\/07\/24\/multiply-group-is-the-new-majority-shareholder-of-spanish-retail-group-tendam\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2523.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"105867\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2025\/07\/24\/multiply-group-is-the-new-majority-shareholder-of-spanish-retail-group-tendam\/2523-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2523.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2523.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2523.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2523.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-105866\" class=\"content-area-description single-story post-105866 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-abu-dhabi tag-enterpriseam-uae tag-ghitha-holding tag-ma-watch tag-multiply-group tag-retail 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\/7\/.589e87c8-87b9-4b58-bd01-ae5b084b2ecd.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>ADX-lis<\/strong><strong>ted Abu Dhabi-based investment firm Multiply Group completed its <\/strong><strong>first major <\/strong><strong>investment in Europe with the acquisition of a controlling stake in Castellano Investments<\/strong>, the parent company of Spanish retail group Tendam, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1549.pdf\" style=\"\" rel=\"noopener\">disclosure<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1549.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/853cfd24-2e7b-438a-9aa7-9908ce171bd3\/multiply-acquires-67.9%2525-of-spanish-retail-group\" style=\"\" rel=\"noopener\">acquisition<\/a> gives Castellano an enterprise value of AED 5.6 bn (EUR 1.3 bn). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Refresher: <\/strong><span style=\"background-color: transparent;\">Multiply acquired a 67.91% stake in Tendam in February, becoming a majority shareholder alongside CVC Funds and PAI Partners, who remain minority shareholders.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Tendam:<\/strong> Founded in Spain, Tendam manages a portfolio of 12 international fashion brands, including Women\u2019s Secret, Springfield, Cortefiel, and Pedro del Hierro, among others. The group has a broad geographical footprint, operating more than 1.8k points of sale across over 80 markets, including the UAE, Spain, Portugal, France, and Latin America, according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The acquisition will be a boon for Multiply\u2019s financials:<\/strong> Tendam generated EUR 1.4 bn in sales during the 12 months ending June 2025, with EBITDA reaching EUR 340.7 mn, the disclosure said. It\u2019s expected to double Multiply\u2019s operational EBITDA post-consolidation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More expansion ahead for Tendam under Multiply\u2019s leadership: <\/strong>The firm plans to accelerate the retail operator\u2019s international expansion across Europe, Latin America, and the Middle East, according to the statement. This will include targeted acquisitions to add new brands and verticals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What's next? <\/strong>The acquisition of Tendam\u2019s Bosnia and Herzegovina operations is pending regulatory approval from the local competition authority, the statement read.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax: <\/strong>Multiply\u2019s share price gained 3.4% to close at AED 2.7 a pop at Wednesday\u2019s close.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Greenhill, Hogan Lovells and KPMG advised Multiply, while Uria Menendez advised Castellano Investments. Ram\u00f3n Hermosilla, Abogados and Lathan &amp; Watkins were legal advisors.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ghitha-holding\/\">Ghitha Holding<\/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\/multiply-group\/\">Multiply Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/retail\/\">retail<\/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=\"105868 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=\"105868\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/07\/24\/105868-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-105868\" class=\"content-area-description single-story post-105868 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreq.com\/en\/uae\/private\/become-a-customer\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/741.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"105869\" 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=\"105869\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/07\/24\/space42-secures-debt-from-european-lenders-for-al-yah-satellites\/\">\r\n                            Space42 secures debt from European lenders for Al Yah satellites                        <\/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 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class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1598.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"105870\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2025\/07\/24\/space42-secures-debt-from-european-lenders-for-al-yah-satellites\/1598-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1598.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1598.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1598.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1598.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-105869\" class=\"content-area-description single-story post-105869 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt tag-debt-watch tag-space tag-space42 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\/7\/.77678726-8c24-481c-9375-8093e6287fd9.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Space42 <\/strong><strong>secures USD 695.5 mn from European lenders for Al Yah sate<\/strong><strong>llites: <\/strong>AI-powered space tech firm Space42 secured USD 695.5 mn in loans through a consortium of European banks to fund the development of its next generation geostationary satellites, according to a <a target=\"_blank\" href=\"https:\/\/apigateway.adx.ae\/adx\/cdn\/1.0\/content\/download\/4460582\" style=\"\" rel=\"noopener\">press release.<\/a> The funds will go towards developing the Al Yah 4 satellite, scheduled for launch in 2027, and the Al Yah 5 satellite, launching in 2028. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Who\u2019s involved? <\/strong><span style=\"background-color: transparent;\">The funding came from a consortium of Spanish and French banks, with France\u2019s Cr\u00e9dit Agricole, Soci\u00e9t\u00e9 G\u00e9n\u00e9rale, Natixis, and Spain\u2019s Santander arranging the facility \u2014 backed by Bpifrance Assurance Export, France\u2019s export credit agency.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>Space42 received AED 3.7 bn in advance payments to develop the Al Yah 4 and Al Yah 5 satellites, part of a wider 17-year <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c79a8701-9a0f-463b-a907-c92136620eac\/space42-extends-new-aed-18.7-bn-contract-with-gov%25e2%2580%2599t-for-satellite-communication-services\" style=\"\" rel=\"noopener\">AED<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c79a8701-9a0f-463b-a907-c92136620eac\/space42-extends-new-aed-18.7-bn-contract-with-gov%25e2%2580%2599t-for-satellite-communication-services\" style=\"\" rel=\"noopener\">18.7 bn<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c79a8701-9a0f-463b-a907-c92136620eac\/space42-extends-new-aed-18.7-bn-contract-with-gov%25e2%2580%2599t-for-satellite-communication-services\" style=\"\" rel=\"noopener\">contract with the UAE government<\/a>. The program will provide secure and multi-path communications capabilities for the defense and civil sectors, according to Space42\u2019s Chief Financial Officer Andrew Cole. The satellites have flexible payloads, meaning their capabilities \u2014 such as coverage area, bandwidth, and frequency \u2014 can be adjusted in real-time while in orbit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lots of outside support: <\/strong>Al Yah 4 and Al Yah 5 satellites are being developed by the European firm Airbus Defence and Space under an AED 3.9 bn contract signed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3b85cfc1-ba46-4c1d-a880-b085421d4172\/airbus-to-build-two-aed-3.9-bn-satellites-for-yahsat\" style=\"\" rel=\"noopener\">last year<\/a>. They will be launched using Falcon 9 rockets developed by Elon Musk\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/47e80bdc-d9d4-4299-bdae-840d944da59b\/yahsat-to-launch-its-aed-3.9-bn-satellites-through-musk%25e2%2580%2599s-spacex\" style=\"\" rel=\"noopener\">SpaceX<\/a> and will eventually replace the UAE\u2019s older-generation Al Yah 1 and Al Yah 2 satellites.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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\/space\/\">space<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/space42\/\">Space42<\/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=\"105871\" 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=\"105871\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/07\/24\/fab-adib-nmdc-energy-and-cbd-earnings-are-in\/\">\r\n                            FAB, ADIB, NMDC Energy, and CBD earnings are in                        <\/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\/07\/24\/fab-adib-nmdc-energy-and-cbd-earnings-are-in\/\" 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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This came on the back of double-digit growth in operating income in the quarter, rising 22.4% y-o-y to AED 9.5 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">On a six-month basis<\/strong><span style=\"background-color: transparent;\">, FAB\u2019s net income came in at AED 10.7 bn, up 26.5% y-o-y \u2014 its first time exceeding the AED 10 bn mark in a six-month period. This was supported by a 16.4% rise in operating income to AED 18.3 bn. The 1H growth was attributed to robust performance across core businesses, diversified streams of revenue, strong margins, and investments in technology and AI to drive efficiency, Group CFO Lars Karmer said in a <\/span><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1527.pdf\" rel=\"noopener\">separate earnings release (pdf<\/a><span style=\"background-color: transparent;\">). Non-interest income contributed a significant 46% of revenues, the earnings release said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cWe achieved broad-based growth <\/strong><strong>with all divisions delivering double-digit revenue expansion<\/strong>, highlighting effective balance sheet deployment, the deepening of relationships and sustained client engagement in dynamic market conditions,\u201d he added.<\/p>\n<p class=\"tag-border-left\">COMMERCIAL BANK OF DUBAI-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Commercial Bank of Dubai saw its bottom line increase 15.4% y-o-y to AED 867.2 mn <\/strong><strong>in 2Q <\/strong><strong>2025<\/strong>, on the back of strong lending activity, customer engagement, and economic growth in the UAE, according to the bank's <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1542.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a>. The lender's operating income reached AED 1.5 bn, growing 8.6% y-o-y, while total assets surpassed AED 150 bn for the first time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Its net income grew 16.7% y-o-y to AED 1.7 bn in 1H 2025<\/strong>, while operating income totaled AED 2.8 bn, up from AED 2.7 bn the year before, driven by strong growth in loans and current and savings accounts balances, according to a separate <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1554.pdf\" style=\"\" rel=\"noopener\">earnings report<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1554.pdf\" style=\"\" rel=\"noopener\">(pdf<\/a> <\/p>\n<p class=\"tag-border-left\">ABU DHABI ISLAMIC BANK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi Islamic Bank (ADIB) reported net income of AED 1.8 bn, marking a 12.8% y-o<\/strong><strong>-y increase in 2Q 2025, <\/strong>according to the lender's <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1551.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a>. Operating income reached AED 4.4 bn, up from AED 3.8 bn the year before.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 1H basis<\/strong>, ADIB reported net income of AED 3.5 bn, representing 15.2% growth compared to the same period in last year. Its topline reached AED 5.9 bn, up from AED 5.3 bn the year before, driven by diversified income streams and continued growth in business volumes, according to a separate <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1552.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>.<\/p>\n<p class=\"tag-border-left\">NMDC ENERGY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NMDC Energy sees bottom line, top line gr<\/strong><strong>owth:<\/strong> NMDC\u2019s engineering, procurement, and construction unit NDMC Energy saw its net income climb 12% y-o-y to AED 366 mn in 2Q 2025, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1521.pdf\" style=\"\" rel=\"noopener\">earnings report (pdf)<\/a>. The firm\u2019s topline grew 21% y-o-y to AED 4.4 bn in the same period, which it attributes to higher backlog execution.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 1H basis:<\/strong> The company\u2019s net income rose 16% y-o-y to AED 583 mn in 1H 2025, while its revenues grew 41% y-o-y to AED 8.2 bn. Around 30% of the firm\u2019s revenues come from Saudi Arabia\u2019s Aramco, while 3% comes from Taiwan operations, NMDC Energy CEO Ahmed Al Dhaheri told <a target=\"_blank\" href=\"https:\/\/www.cnbcarabia.com\/140641\/2025\/23\/07\/%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D8%AA%D9%86%D9%81%D9%8A%D8%B0%D9%8A-%D9%84%D8%B4%D8%B1%D9%83%D8%A9-NMDC-Energy-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA%D9%8A%D8%A9-%D8%A3%D9%88%D9%84%D8%A7%D9%8B-%D9%84%D9%80-CNBC-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9:-30--%D9%85%D9%86-%D8%A5%D8%AC%D9%85%D8%A7%D9%84%D9%8A-%D8%A5%D9%8A%D8%B1%D8%A7%D8%AF%D8%A7%D8%AA%D9%86%D8%A7-%D8%AA%D8%A3%D8%AA%D9%8A-%D9%85%D9%86-%D8%B4%D8%B1%D9%83%D8%A9-%D8%A3%D8%B1%D8%A7%D9%85%D9%83%D9%88-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%883--%D9%85%D9%86-%D8%AA%D8%A7%D9%8A%D9%88%D8%A7%D9%86\" style=\"\" rel=\"noopener\">CNBC Arabia<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company's pipeline reached approximately AED 66 bn at the end of 2Q 2025<\/strong>, the release said. Its expected backlog stands at AED 49.9 bn, composed of projects slated to launch in 2025-2030 \u2014 with 21% of them international and 79% based in the UAE. NMDC Energy was awarded AED 13.9 bn in projects in 1H 2025, chief among them a <a target=\"_blank\" href=\"https:\/\/www.nmdc-energy.com\/en\/media\/press-releases\/nmdc-energy-awarded-1-136-billion-epc-contract-for-taiwan-subsea-gas-pipeline-project\/\" style=\"\" rel=\"noopener\">USD 1 bn EPC contract<\/a> for a subsea gas pipeline project in Taiwan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WATCH THIS SPACE- <\/strong><strong>NM<\/strong><strong>DC Energy is eyeing<\/strong><strong> onshore projects in Saudi Arabia<\/strong>, and is seeking local partners to support growth, Al Dhaheri told Asharq Business yesterday (<a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/companies\/91248\/nmdc-energy-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA%D9%8A%D8%A9-%D8%AA%D8%B3%D8%B9%D9%89-%D9%84%D8%AA%D9%88%D8%B3%D9%8A%D8%B9-%D9%85%D8%B4%D8%A7%D8%B1%D9%8A%D8%B9%D9%87%D8%A7-%D8%A8%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">watch, runtime: 8:35<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> NMDC Energy inked a long-term partnership with Aramco <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e0778f2a-7c29-47e4-8dbe-8fe800b923d0\/usd-9-bn-worth-of-agreements-signed-on-day-one-of-aramco%25e2%2580%2599s-iktva#:~:text=The%20NMDC%20Offshore%20fabrication%20yard%20in%20Ras%20Al%20Khair%20will%20offer%20maritime%20engineering%2C%20equipment%2C%20material%20manufacturing%20and%20fabrication%20services.\" style=\"\" rel=\"noopener\">in January<\/a>, allowing the firm to take part in multiple projects. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-islamic-bank\/\">Abu Dhabi Islamic Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/commercial-bank-of-dubai\/\">Commercial Bank of Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/first-abu-dhabi-bank\/\">First Abu Dhabi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/nmdc-energy\/\">NMDC Energy<\/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=\"105873 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=\"105873\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/07\/24\/105873-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-105873\" class=\"content-area-description single-story post-105873 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.facebook.com\/HassanAllamProperties?_rdc=1&amp;_rdr#\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1287.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"105874\" 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=\"105874\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/07\/24\/rak-tourism-development-authority-ceo-to-step-down-this-year\/\">\r\n                            Rak Tourism Development Authority CEO to step down this year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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                       <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1574.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"105875\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2025\/07\/24\/rak-tourism-development-authority-ceo-to-step-down-this-year\/1574-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1574.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1574.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1574.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1574.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-105874\" class=\"content-area-description single-story post-105874 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-uae tag-moves tag-ras-al-khaimah tag-tourism 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\/7\/.682e5d31-6787-40bf-ab30-f4928a7da3d8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ras Al Khaimah Tourism Development Authority\u2019s (RAKTDA) CEO Raki Phillips <\/strong><strong>(<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/rakiphillips\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>) will step down from his role<\/strong> in October following a six year tenure, <a target=\"_blank\" href=\"https:\/\/skift.com\/2025\/07\/22\/raki-phillips-to-step-down-as-ras-al-khaimah-tourism-chief\/\" style=\"\" rel=\"noopener\">Skift<\/a> reports. He will move to a new role at Accor, based out of Dubai, where he will be regional president for premium, midscale and economy division in the Middle East, Africa and Turkey. It\u2019s not yet clear who will take his place. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Phillips helped develop the authority\u2019s international tourism strategy <\/strong><span style=\"background-color: transparent;\">during his tenure, while developing hospitality and leisure infrastructure that transformed the lesser-known emirate to an investment destination. One of his biggest achievements during this time: securing the USD 5.4 bn Wynn Resorts project on Al Marjan Island, the emirate\u2019s largest foreign direct investment to date. The resort, set to open in 2027, will feature the Middle East\u2019s first regulated gaming facility.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ras-al-khaimah\/\">Ras Al Khaimah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tourism\/\">tourism<\/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=\"105876\" 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=\"105876\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/07\/24\/edge-to-launch-jv-with-turkeys-pavo-group\/\">\r\n                            Edge to launch JV with Turkey\u2019s Pavo Group                        <\/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\/07\/24\/edge-to-launch-jv-with-turkeys-pavo-group\/\" 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\/07\/24\/edge-to-launch-jv-with-turkeys-pavo-group\/')\">\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\/07\/24\/edge-to-launch-jv-with-turkeys-pavo-group\/\">\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=Edge to launch JV with Turkey\u2019s Pavo Group&url=https:\/\/enterpriseam.com\/uae\/2025\/07\/24\/edge-to-launch-jv-with-turkeys-pavo-group\/\">\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\/07\/24\/edge-to-launch-jv-with-turkeys-pavo-group\/&title=Edge to launch JV with Turkey\u2019s Pavo Group\">\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=Edge+to+launch+JV+with+Turkey%E2%80%99s+Pavo+Group+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2025%2F07%2F24%2Fedge-to-launch-jv-with-turkeys-pavo-group%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\/07\/24\/edge-to-launch-jv-with-turkeys-pavo-group\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/686.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"105877\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2025\/07\/24\/edge-to-launch-jv-with-turkeys-pavo-group\/686-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/686.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"686.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/686.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/686.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-105876\" class=\"content-area-description single-story post-105876 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-abu-dhabi-fund-for-development tag-also-on-our-radar tag-arada-developments tag-aviation tag-defense tag-edge tag-edge-group tag-enterpriseam-uae tag-international-holding-company tag-ma 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\/7\/.cc0cae01-caa0-433c-9fb6-28154dbe826a.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">DEFENSE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Edge <\/strong><strong>links up with Turkish defense firm on digital defense and security solutions<\/strong><strong>: <\/strong>State-owned defense firm Edge Group and Turkey-based Pavo Group are launching Key4, a joint venture that will develop advanced defense and security solutions for the UAE and global markets, according to a <a target=\"_blank\" href=\"https:\/\/edgegroup.ae\/news\/edge-and-pavo-group-launch-joint-venture-key4\" style=\"\" rel=\"noopener\">statement<\/a>. The JV will focus on cybersecurity, electronic warfare, artificial intelligence, and secure systems. The statement did not disclose the breakdown of ownership between the two firms nor the value of its planned investments.<\/p>\n<p class=\"tag-border-left\">ENERGY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dana Gas kicks off USD 100<\/strong><strong> mn Egypt venture: <\/strong>Sharjah\u2019s Dana Gas estimates some 9 bn cubic feet of natural reserves from its Begonia 2 appraisal well in Egypt\u2019s onshore Nile Delta, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1517.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The well, located in the New El Manzala concession and operated by JV El Wastani Petroleum Company, is the first in a series of 11 appraisal and exploration wells planned under a two-year <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/00f55d5c-361a-4458-a025-c4144237f447\/\" style=\"\" rel=\"noopener\">USD 100 mn<\/a> investment program \u2014 aiming to add 80 bcf in recoverable reserves. The initial drilling process on the next well is slated to start in August. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dana Gas is also drilling into its existing wells to tap into the area\u2019s deeper geological layers.<\/strong> At Balsam 3, the company redeployed the Egyptco rig, which had previously been sealed off, to unlock 4 bcf in additional reserves. The recompleted well is expected to produce 3 mcf\/d and reduce the exploration risk in the surrounding area. <\/p>\n<p class=\"tag-border-left\">M&amp;A- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EHC Investment acquires fire and safety firm:<\/strong> Emirates International Firefighting, the safety arm of International Holding Company\u2019s EHC Investments, completed the full acquisition of Abu Dhabi-based safety services firm Tamouh Fire and Safety, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/ehc-investment-llc-strengthens-safety-leadership-with-strategic-acquisition-of-tamouh-fire-and-safety-ioth9thv\" style=\"\" rel=\"noopener\">press release<\/a>, which did not disclose the value of the acquisition. Tamouh\u2019s fire safety operations cover emergency response services, as well as system installation and maintenance. The firm will now expand their offerings across the region, the statement said.<\/p>\n<p class=\"tag-border-left\">REAL ESTATE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Arada <\/strong><strong>inks AED 678 mn contract with China Tiesju for Palm Jumeirah luxury <\/strong><strong>residences: <\/strong>Sharjah-based property developer Arada appointed China Tiesju Civil Engineering, a subsidiary of China Railway Group, to construct Armani Beach Residences at Palm Jumeirah under a AED 678 mn contract, according to a <a target=\"_blank\" href=\"https:\/\/www.arada.com\/en\/latest-news\/arada-awards-aed678-million-construction-contract-for-armani-beach-residences-at-palm-jumeirah-to-china-railway-group-subsidiary\/\" style=\"\" rel=\"noopener\">press release<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The development, scheduled for completion by the end of 2027, will feature 57 residences ranging from two to five bedrooms, including penthouses and two presidential suites. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- TownX launches AED 662 mn Ashley Hills project in Dubai's Arjan:<\/strong> Real estate developer TownX launched Ashley Hills, a AED 662 mn residential project in Dubai's Arjan district, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/business\/real-estate\/townx-launches-new-180mln-residential-project-in-dubai-v47rbqkm\" style=\"\" rel=\"noopener\">press release<\/a>. The build will include 616 units across 400k sq ft and is located near Sheikh Mohammed Bin Zayed Road and Al Khail Road.<\/p>\n<p class=\"tag-border-left\">AVIATION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Volar Air and Falcon Aviation Partner on Electric Aircraft:<\/strong> Hong Kong-based air mobility firm Volar Air Mobility and Abu Dhabi\u2019s Falcon Aviation signed a MoU to bring RX-series electric aircraft to the UAE market, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/volar-air-mobility-and-falcon-aviation-services-sign-strategic-mou-to-pioneer-electric-aviation-in-the-uae-j4z3zfq1\" style=\"\" rel=\"noopener\">press release<\/a>. The two will coordinate on the certification, sale and distribution, maintenance, and final assembly of the aircraft.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-fund-for-development\/\">Abu Dhabi Fund for Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/arada-developments\/\">Arada Developments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/defense\/\">defense<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/edge\/\">EDGE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/edge-group\/\">Edge Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/international-holding-company\/\">International Holding Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma\/\">M&amp;A<\/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=\"105878\" 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=\"105878\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/07\/24\/waning-trust-in-us-treasuries-drives-record-demand-for-em-bonds\/\">\r\n                            EM fundamentals and high yields attract investors amid US uncertainty                        <\/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\/07\/24\/waning-trust-in-us-treasuries-drives-record-demand-for-em-bonds\/\" 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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Faith in traditional safe havens has faded over the year, due to the Trump administration\u2019s erratic trade policies, the salmon colored paper said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">By the numbers:<\/strong><span style=\"background-color: transparent;\"> Government bond spreads over US Treasuries have dropped to 1.04 percentage points, their lowest level since 2007, while corporate debt spreads have narrowed to 1.1 points, below pre-Trump\u2019s election levels.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The push factors: <\/strong>The shift is being fueled by Trump\u2019s political pressure on the Federal Reserve and mounting concerns over the high levels of US government debt. \u201cThe safe assets aren\u2019t as safe as they used to be,\u201d the Bank of America\u2019s head of global EM fixed-income strategy David Hauner told the paper.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pull factors: <\/strong>Other than the attractive yields, the appeal of EM is underpinned by a growing appreciation for the improving economic health and credit quality. The market is being supported by increased bond issuance from stable, highly-rated Gulf states and economic reforms in other developing nations like Argentina and Pakistan. EM bonds have also been \u201cunder-owned\u201d for many years, suggesting there is still substantial capacity for future investment and growth, Hauner said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Macro winds are blowing in the EM\u2019s favor:<\/strong> A high appetite for risk, spurred by \u201csuperstrong\u201d global equities, is leading investors to overlook trade war concerns and focus on positive fundamentals like a weaker USD and Chinese growth, the FT cites unnamed Citi analysts as saying.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT- The current optimism for EM leaves little room for error<\/strong>, posing big risks if the global economy slows or if US inflation rises, JP Morgan\u2019s head of EM fixed-income strategy Jonny Goulden told the FT.<\/p>\n<p class=\"tag-border-left\">ALSO FROM PLANET FINANCE-<\/p>\n<ul>\n<li><strong>Asset managers are launching active ETFs at a record pace,<\/strong> to capitalize on growing investor interest in products that aim to outperform traditional passive index trackers. During 1H 2025 alone, 476 active ETFs debuted across the US and Europe, marking twice the 234 new passive funds launched over the same period. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/77547b5e-ee7b-4035-866c-8756857b4c39\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/li>\n<\/ul>\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 this morning, <\/strong>with Japan\u2019s Nikkei up 1.9% and Hong Kong\u2019s Hang Seng up 0.4%. Wall Street futures are virtually unchanged following big tech earnings releases from Alphabet and Tesla.<\/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\">10,296<\/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: +9.3%)<\/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>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\">6,086<\/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\">+1.0% (YTD: +17.9%)<\/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>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\">5,083<\/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: 22.1%)<\/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-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>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\">4.2% 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\">10,984<\/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% (YTD: -8.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">34,125<\/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\">+1.0% (YTD: +14.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">6,359<\/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\">+0.8% (YTD: +8.1%)<\/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>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\">9,061<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +10.9%)<\/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>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\">5,344<\/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\">+1.0% (YTD: +9.2%)<\/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 68.76<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/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 3.09<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5%<\/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>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 3,398.4<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.0%<\/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 118,013<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.4% (YTD: +24.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">AED 3.57<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: +0.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P MENA Bond &amp; Sukuk<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">146.45<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +4.7%)<\/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>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\">15.37<\/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\">-6.9% (YTD: -11.4%)<\/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 ADX rose 1.2% yesterday<\/strong> on turnover of AED 1.3 bn. The index is up 9.3% 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>Abu Dhabi National Takaful Co (+14.8%), Bank of Sharjah (+10.0%) and Commercial Bank International (+8.0%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Ins. House (-9.9%), Gulf Cement Co. (-3.2%) and Hayah Ins. (-3.2%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the DFM<\/strong>, the index rose 1.0% on turnover of AED 662.7 mn. Meanwhile, Nasdaq Dubai was up 1.9%.<\/p>\n<p class=\"tag-border-left\">CORPORATE ACTIONS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ghitha Holding sells Egypt-based SPV to UAE subsidiary:<\/strong> Ghitha Holding's Egypt-based farming subsidiary Agrinv SPV inked an agreement to transfer 100% of its shares to Ghitha\u2019s UAE-based fresh produce arm NRTC Food for USD 47 mn, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1553.pdf\" style=\"\" rel=\"noopener\">bourse disclosure (pdf)<\/a>. The transaction is subject to regulatory approval. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/bonds\/\">Bonds<\/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\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"105880\" 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\/07\/24\/105880-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-105880\" class=\"content-area-description single-story post-105880 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;\">JULY <\/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;\">7-25 July (Monday-Friday): Subscription window for Al Mal Capital REIT\u2019s follow-on offering on the DFM.<\/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;\">AUGUST <\/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;\">8-15 August (Friday-Friday): Expected trading window for Al Mal Capital REIT\u2019s new units on the DFM.<\/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>8-10 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 Center.<\/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-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/upc28dubai.post\/\" style=\"\">Universal Postal Congress<\/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>10-11 September (Wednesday-Thursday): MENA <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/pppmenaforum.com\/\" style=\"\">Public-Private Partnership Forum<\/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:400;\">10-20 September (Wednesday-Saturday): IFMA Youth World Muay Thai Championship, Abu Dhabi.<\/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>23-24 September (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/menaevshow.com\/#:~:text=Welcome%20to%20MENA%20EV%20Show,Focus%20Sectors\" style=\"\">MENA EV Show<\/a><\/span><span style=\"font-weight:400;\">, The Agenda, Dubai Media City. <\/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:\/\/ktuniexpo.com\/\" style=\"\">The KT UniExpo<\/a><\/span><span style=\"font-weight:400;\">, The H 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;\">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 Center. <\/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 Center. <\/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 October (Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/familyofficesummit.ae\/dubai\/\" style=\"\">Family Office Summit<\/a><\/span><span style=\"font-weight:400;\">, Park Hyatt, Dubai.<\/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 (Tuesday-Thursday): <\/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 style=\"font-weight:400;\">15-18 October (Wednesday-Saturday): Middle East Electric Vehicle Show, Expo Center Sharjah. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 October (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reutersprofessional.com\/reuters-media\/next-gulf-landing-site\/p\/1\" style=\"\">Reuters NEXT Gulf Summit<\/a><\/span><span style=\"font-weight:400;\">, The St. Regis Saadiyat Island Resort, Abu Dhabi.<br \/><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>22-24 October (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sharjah24.ae\/en\/Articles\/2025\/05\/31\/ZX47\" style=\"\">World Investment Conference<\/a><\/span><span style=\"font-weight:400;\">, Expo Center Sharjah. <\/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>4-9 November (Tuesday-Saturday):<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.dubaidesignweek.ae\/\" style=\"\">Dubai Design Week<\/a><\/span><span>, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-17 November (Tuesday-Monday):<\/span> <span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dubai2025.icom.museum\/programme\" style=\"\">International Council of Museums (ICOM) General Conference<\/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>12 November (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.dubaibusinessforum.com\/en\/home\" style=\"\">Dubai Business Forum<\/a><\/span><span style=\"font-weight:400;\">, Cipriani South Street, New York City.<\/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 Center, 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<\/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>7-14 December (Sunday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/asianparalympic.org\/asian-youth-para-games\/\" style=\"\">Asian Youth Para Games<\/a><\/span><span style=\"font-weight:400;\">, APC headquarters, Dubai.<\/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>18-23 December (Thursday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wam.ae\/ar\/article\/15lb243-%D8%A3%D8%A8%D9%88%D8%B8%D8%A8%D9%8A-%D8%AA%D8%B3%D8%AA%D8%B6%D9%8A%D9%81-%E2%80%9C%D8%A3%D9%84%D8%B9%D8%A7%D8%A8-%D8%A7%D9%84%D9%85%D8%B3%D8%AA%D9%82%D8%A8%D9%84-2025%E2%80%9D-%D8%AF%D9%8A%D8%B3%D9%85%D8%A8%D8%B1-%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84\" style=\"\">Games of the Future<\/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>29-30 December (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wam.ae\/en\/article\/bkfj93s-dubai-host-world-sports-summit-december\" style=\"\">World Sports Summit<\/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;\">Signposted to happen sometime in 2025:<\/span><\/p>\n<ul>\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<\/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 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;\">JANUARY 2026 <\/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 January: Client asset regime changes in Dubai International Financial Center take effect. <\/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;\">9-11 January (Friday-Sunday): 1 Bn Followers Summit, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FEBRUARY 2026 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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><\/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 in 2026: <\/span><\/p>\n<ul>\n<li><span>31 March - 2 April (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wam.ae\/en\/article\/bkogr9j-dubai-press-club-organise-arab-media-summit-2026\" style=\"\">Arab Media Summit<\/a><\/span><span style=\"font-weight:400;\">, Dubai.  <\/span><\/li>\n<li><span>13-15 April ( Monday-Wednesday) : <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/dubai-to-host-third-edition-of-international-glass-manufacturing-show-in-april-2026-bjw53wgq\" style=\"\">The International Glass Manufacturing Show<\/a><\/span><span style=\"font-weight:400;\">, Dubai. <\/span><\/li>\n<li><span>14-16 April: (Tuesday-Thursday): the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ips-dubai.com\/\" style=\"\">International Property Show<\/a><\/span><span style=\"font-weight:400;\">, Sheikh Zayed Rd, Dubai.    <\/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 <\/span><\/li>\n<li><span style=\"font-weight:400;\">Dubai Future Finance Week<\/span><\/li>\n<li><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wam.ae\/en\/article\/bk8zh7y-investopia-host-inaugural-global-talks-tashkent\" style=\"\">Investopia Global Talks<\/a><\/span><span style=\"font-weight:400;\">, Tashkent<\/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;\">Sibos 2029 organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), Dubai.<\/span><\/li>\n<li><span style=\"font-weight:400;\">The commissioning of the seventh phase of Mohammed bin Rashid Al Maktoum Solar Park.<\/span><\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Multiply acquires Tendam | Space42 lands funding for satellites | FAB, ADIB, and others report strong 2Q earnings<\/p>\n","protected":false},"featured_media":105860,"menu_order":0,"template":"","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-105859","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"6a899e18-6b84-4950-8ce3-07f07b0714a7","teaser":"Multiply acquires Tendam | Space42 lands funding for satellites | FAB, ADIB, and others report strong 2Q earnings","photo_url":"https:\/\/ent.news\/2025\/7\/906.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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