{"id":111806,"date":"2026-01-22T00:00:00","date_gmt":"2026-01-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=111806"},"modified":"2026-01-22T02:58:00","modified_gmt":"2026-01-22T02:58:00","slug":"dubai-property-market-to-finally-normalize-in-2026","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/dubai-property-market-to-finally-normalize-in-2026\/","title":{"rendered":"Dubai property market to finally normalize in 2026?"},"content":{"rendered":"<section id=\"111808\" 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=\"111808\">\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\/2026\/01\/22\/this-morning-uae-bond-yields-spike-amid-global-bond-rout-abu-dhabis-limad-is-now-the-owner-of-mclaren-stake\/\">\r\n                            THIS MORNING: UAE bond yields spike amid global bond rout + Abu Dhabi\u2019s L\u2019Imad is now the owner of McLaren stake                        <\/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\/2024\/8\/434.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"111809\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/22\/this-morning-uae-bond-yields-spike-amid-global-bond-rout-abu-dhabis-limad-is-now-the-owner-of-mclaren-stake\/434-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/434.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"434.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/434.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/434.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-111808\" class=\"content-area-description single-story post-111808 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-agriculture tag-artificial-intelligence tag-banking tag-enterpriseam-uae tag-first-abu-dhabi-bank tag-hsbc tag-india-uae tag-international-energy-agency-iea tag-mubadala tag-oil-gas tag-real-estate tag-sharjah tag-what-were-tracking-today wpautop entry\">\n\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;text-align: left\"><strong>Good morning, friends. <\/strong>We have a mixed bag of news for you this morning, but the headline stories are outlook pieces, as analysts look into their crystal balls for what\u2019s to come in 2026.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>First off:<\/strong> Dubai\u2019s property market looks like it\u2019s (finally) headed towards normalization, with ValuStrat forecasting 10% capital gains, and rents expected to stay flat for the first time in a long time.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Plus: Regional national oil firms are set to spend more than their international counterparts<\/strong> as they continue to expand production and diversify into more low-carbon alternatives.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>ALSO- Earnings season has officially kicked off<\/strong>, and as usual, it\u2019s the banks that have gotten us started. We unpack Abu Dhabi Islamic Bank and Commercial Bank of Dubai\u2019s financials in the news well, below.<\/p>\n<p class=\"tag-border-left\">Happening today<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>It\u2019s Davos week: <\/strong>World leaders, bankers, and global business leaders are in Switzerland this week for the World Economic Forum Annual Meeting, which runs through tomorrow. You can go deeper on the meeting\u2019s microsite <a href=\"https:\/\/www.weforum.org\/meetings\/world-economic-forum-annual-meeting-2026\/\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The UAE is sending what it says is the fifth biggest delegation at Davos this year<\/strong>, with some 100 officials, ministers, and senior executives from major private companies set to attend, according to <a href=\"https:\/\/www.wam.ae\/en\/article\/byaghvz-uae-participates-world-economic-forum-2026-with\" target=\"_blank\" rel=\"noopener\">Wam<\/a>. Dubai Culture and Arts Authority Chairwoman Latifa bint Mohammed bin Rashid Al Maktoum is leading the delegation.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Besides a pavilion<\/strong> that is set to host a series of sessions, meetings, and media engagements, several officials are taking the stage for panels throughout the week. Keep an eye out for Damac\u2019s Founder and Chairman <strong>Hussain Sajwani<\/strong>, who takes the stage alongside other regional leaders today for a session focused on the \u201cProsperity Agenda for the Middle East.\u201d<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Also happening today:<\/strong><\/p>\n<ul>\n<li><strong><a href=\"https:\/\/www.umexabudhabi.ae\/en\" target=\"_blank\" rel=\"noopener\">Umex Abu Dhabi<\/a><\/strong>, which wraps today at Adnec Center Abu Dhabi;<\/li>\n<li><strong>The Abu Dhabi Department of Economic Development-led <\/strong><strong><a href=\"https:\/\/www.wam.ae\/en\/article\/1713sit-abu-dhabi-italy-strengthen-strategic-partnership\" target=\"_blank\" rel=\"noopener\">delegation<\/a><\/strong><strong> to Italy<\/strong>, which also wraps up today;<\/li>\n<li><strong>The <\/strong><strong><a href=\"https:\/\/acresme.com\/\" target=\"_blank\" rel=\"noopener\">Sharjah Real Estate Exhibition<\/a><\/strong><strong> (also known as Acres)<\/strong>, which runs until Saturday at Expo Center Sharjah.<\/li>\n<\/ul>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>WEATHER- Is this what winter\u2019s like? <\/strong>We\u2019re continuing a run of cooler weather, with the mercury reaching a high of just 20\u00b0C in Dubai, with a chilly overnight low of 13\u00b0C, while Abu Dhabi will see temperatures peak at 23\u00b0C with an overnight low of 12\u00b0C.<\/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;text-align: left\"><a id=\"wwtt1\"><\/a> <strong>DEBT \u2014<\/strong><strong> Middle East bonds have not been immune to this week\u2019s bond rout. <\/strong> A rapid <a href=\"https:\/\/enterpriseam.com\/uae\/issues\/emirates-nbd-clears-hurdle-for-takeover-in-india-while-oci-orascom-merger-faces-hurdles-in-the-netherlands\/#111753\" target=\"_blank\" rel=\"noopener\">sell-off in Japanese and US government bonds<\/a> earlier this week has left regional markets momentarily oversupplied as global yields spike, with yields on UAE 2034 USD-denominated government bonds rising 5 bps to 4.385% overnight, according to an Emirates NBD <a href=\"https:\/\/ent.news\/2026\/1\/842.pdf\" target=\"_blank\" rel=\"noopener\">research note (pdf)<\/a>. Saudi and Turkish bonds also saw yields rise, while a GCC-wide index tracking regional credit is down 0.4% YTD, exceeding the 0.3% drop seen in broader emerging markets.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The underperformance is primarily a supply story rather than a signal of deteriorating credit health<\/strong>, Emirates NBD explains. The GCC primary market has been exceptionally active, issuing USD 28.4 bn in new debt in the first three weeks of 2026 \u2014 which already represents 15% of the total volume issued in 2025.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Strong fundamentals mean that the overall credit position<\/strong> <strong>of countries like the UAE and Saudi Arabia remains a buffer against further dips<\/strong>, with investors expected to pivot back to the GCC\u2019s high yields and strong credit, keeping spreads near record lows as conditions normalize.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Plus: Yields on US debt are already falling<\/strong> as geopolitical tensions seem to be easing, with US President Donald Trump saying he\u2019s reached a framework agreement on Greenland (read more below).<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>IN OTHER DEBT NEWS- <\/strong><strong>H<\/strong><strong>SB<\/strong><strong>C topped the<\/strong><strong> MENA debt capital market leagues in 2025 for the second consecutive <\/strong><strong>year<\/strong>, snapping up an 11% market share of bond bookrunning for the year, <a href=\"https:\/\/www.zawya.com\/en\/capital-markets\/bonds\/hsbc-tops-mena-dcm-league-table-expects-more-saudi-abu-dhabi-and-sharjah-issuances-rvaszft3\" target=\"_blank\" rel=\"noopener\">Zawya<\/a> reports, citing LSEG data. The bank\u2019s performance was anchored by its role in sovereign, Public Investment Fund, and corporate transactions in a year where the UAE trailed only Saudi Arabia as the world\u2019s most active jurisdiction.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>What to look for this year:<\/strong> HSBC expects Abu Dhabi and Sharjah to drive the 2026 pipeline alongside Saudi Arabia. \u201cDubai appears to be focused on deleveraging and is unlikely to tap the market in the near term unless it shifts its capex program toward a more expansionary stance,\u201d Samer Deghaili, HSBC co-head of capital markets and advisory in MENAT, is quoted as saying.<\/p>\n<p class=\"tag-border-left\">Watch this space<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>AGRITRADE \u2014 Al Dahra focuses on production as it retires trading business: <\/strong>ADQ-backed agribusiness Al Dahra is looking to refocus its efforts on its European, US, and African farming operations as it plans to withdraw from the third-party grains and oilseeds trading market, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-20\/uae-s-al-dahra-to-exit-grain-trading-plans-pivot-to-farming\" target=\"_blank\" rel=\"noopener\">Bloomberg<\/a> reports, citing an emailed statement from the company. Cultivating and selling produce from its 250k acres of farmland is now a main priority as the firm \u2014 like other regional players in the sector \u2014 looks to secure food supply chains.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Al Dahra ha<\/strong><strong>s been dipping out elsewhere: <\/strong>The shift follows the company\u2019s <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/12\/10\/this-morning-mubadala-eyes-brazils-will-bank-adnoc-top-bidder-for-russian-stake-in-serbian-oil-industry\/\" target=\"_blank\" rel=\"noopener\">recent exit<\/a> from Romania\u2019s grain trading market, a trading hotspot for Al Dahra following struggles amid increasing competition for a shrinking grain supply in the Black Sea market, in the wake of Russia\u2019s invasion of Ukraine. The Emirati player posted three consecutive years of financial losses, opting to withdraw from trading in Romania while keeping its in-country farming and fertilizer business.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>A good time to get out? <\/strong>Trading conditions in the region continue to fluctuate as Ukraine\u2019s grain exports declined sharply in December, with <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-08\/ukraine-grain-exports-slumped-in-december-as-strikes-intensified\" target=\"_blank\" rel=\"noopener\">volumes dropping 16% y-o-y<\/a> due to a major escalation in Russian strikes on its main port infrastructure.<\/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;text-align: left\"><a id=\"wwtt2\"><\/a> <strong>INVESTMENT \u2014<\/strong> <strong>Abu Dhabi is corralling its mobility plays: <\/strong>The UAE has folded state-owned mobility investor Cyvn Holdings into its newest sovereign platform, L\u2019imad Holding, consolidating high-profile stakes \u2014 including McLaren Racing and Chinese EV manufacturer Nio \u2014 under one umbrella, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-21\/mclaren-stake-hints-at-broad-remit-for-abu-dhabi-s-newest-fund-l-imad\" target=\"_blank\" rel=\"noopener\">Bloomberg<\/a> reports, citing people familiar with the matter.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Cyvn brings real heft: <\/strong>As we\u2019ve reported, Cyvn took full control of McLaren Racing alongside Bahrain\u2019s Mumtalakat in a <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/09\/03\/cvyn-holdings-acquires-remaining-stake-in-mclaren-racing-alongside-mumtalakat-taking-full-control-of-the-racing-unit\/?repeat=w3tc\" target=\"_blank\" rel=\"noopener\">transaction<\/a> valuing the team at more than GBP 3 bn last year, and holds an 18% stake in Nio, which established the UAE as its MENA base <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/10\/chinese-ev-manufacturer-nio-to-set-up-shop-in-the-uae-before-the-end-of-the-year\/\" target=\"_blank\" rel=\"noopener\">in 2024<\/a>.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>This fits L\u2019imad\u2019s mandate: <\/strong>When the fund appointed its board <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/13\/new-abu-dhabi-investor-on-the-block-limad-appoints-board\/\" target=\"_blank\" rel=\"noopener\">earlier this month<\/a>, it named urban mobility as a priority sector alongside infrastructure and real estate, financial services, advanced industries, and smart cities.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>AND- Mubadala is aiming to ramp up its investments in AI and robotics<\/strong>, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/mubadala-targets-opportunities-ai-robotics-ceo-says-2026-01-20\/\" target=\"_blank\" rel=\"noopener\">Reuters<\/a> quotes CEO Khaldoon Al Mubarak as saying. The fund is keen on ventures involving both sectors, as well as their application in industry and manufacturing, he said. It will also focus on other sectors including biotech, healthcare, and life sciences, while expanding its Africa portfolio, which includes <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/07\/mubadala-and-frances-bpifrance-invest-in-partech-africa-ii\/\" target=\"_blank\" rel=\"noopener\">an Africa-focused joint venture capital fund<\/a> with France\u2019s Bpifrance.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The focus is o<\/strong><strong>n the here and now<\/strong>, with rapid developments in the sector making it tricky to see just five years ahead, where once the fund opted for a 10-year strategy, he added.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The proof is in the paper trail.<\/strong> The sovereign fund was the <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/06\/mubadala-was-everywhere-in-2025\/\" target=\"_blank\" rel=\"noopener\">largest state-owned spender<\/a> on AI in 2025, with about USD 4.9 bn deployed. The fund has made more recent plays into <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/30\/mubadala-taqa-complete-acquisition-of-majority-stakes-in-uzbekistan-power-plant\/\" target=\"_blank\" rel=\"noopener\">energy<\/a>, <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/16\/this-morning-adnoc-eyes-venezuelan-oil-national-bank-of-canada-sets-up-shop-in-dubai\/\" target=\"_blank\" rel=\"noopener\">oil and gas<\/a>, North American <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/15\/mubadalas-ci-financial-snaps-up-cad-26-bn-in-assets\/\" target=\"_blank\" rel=\"noopener\">financial services<\/a> and <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/12\/18\/adia-doubles-down-on-indias-icici-prudential-while-mubadala-acquires-a-us-building-automation-firm\/\" target=\"_blank\" rel=\"noopener\">assets<\/a>, and private equity and credit.<\/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;text-align: left\"><a id=\"wwtt4\"><\/a> <strong>INDIA \u2014<\/strong> <strong>The<\/strong><strong> UAE government and the Indian state of Telangana hav<\/strong><strong>e agreed to collaborate on the development of Bharat Future City<\/strong>, a planned greenfield urban project near Hyderabad, according to a <a href=\"https:\/\/x.com\/TelanganaCMO\/status\/2013601049379250609\" target=\"_blank\" rel=\"noopener\">post on X<\/a> by the Telangana Chief Minister\u2019s Office.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Project scope: <\/strong>Telangana has positioned Bharat Future City as a net-zero greenfield smart city spread across about 30k acres, with planned zones covering technology, education, healthcare, industry, and residential development. Discussions with the UAE included a proposal to form a joint task force to support implementation.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>UAE-India relations are set to deepen <\/strong>after a visit by President Mohamed bin Zayed Al Nahyan to New Delhi this week <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/20\/uae-india-agreement-blitz\/\" target=\"_blank\" rel=\"noopener\">culminated in a commitment to double trade<\/a> and ramp up investments, including across AI, space, and defense. The UAE is already set to be involved in the development of the Dholera Special Investment Region, a smart city development in Gujarat.<\/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;text-align: left\"><a id=\"wwtt3\"><\/a> <strong>BANKING \u2014 Two pieces of FAB news are making the rounds: <\/strong><\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>#1- FAB now has a fitness tracking payment ring: <\/strong>First Abu Dhabi Bank is launching its own answer to wearable payments tech with a new fitness payment ring, in partnership with Mastercard, French defense tech and cybersecurity firm Thales, and Hong Kong-based wearable payment tech firm Tappy, according to a <a href=\"https:\/\/ent.news\/2026\/1\/829.pdf\" target=\"_blank\" rel=\"noopener\">press release (pdf)<\/a>.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>How it works: <\/strong>The ring allows users to tokenize their FAB-Mastercard debit and credit cards for tap-to-pay transactions. It uses a miniaturized secure chip from Thales to replace sensitive card details with Tappy\u2019s tokenization technology for security.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>#2- FAB opened a representative office in Istanbul<\/strong>, joining other UAE lenders like Emirates NBD, Mashreq, and Dubai Islamic Bank in expanding there, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-21\/fab-joins-uae-lenders-turkey-push-with-ex-hsbc-banker-hire\" target=\"_blank\" rel=\"noopener\">Bloomberg<\/a> reports. Tolga Kisakurek (<a href=\"https:\/\/www.linkedin.com\/in\/tolga-kisakurek-21b9374\/\" target=\"_blank\" rel=\"noopener\">LinkedIn<\/a>), who was formerly executive vice-president at Istanbul-based Dogan Investment Bank and has held director roles at HSBC and Citigroup, was tapped as managing director of the representative office.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Background: <\/strong>FAB had been trying to venture into Turkey through the <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/03\/fab-and-yapi-kredi-terminate-takeover-talks\/\" target=\"_blank\" rel=\"noopener\">acquisition of a majority stake in Turkish bank Yapi Kredi<\/a>, but talks fell through last year due to disagreements over pricing.<\/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;text-align: left\"><strong>BANKING \u2014 Another African lender is planting a flag in Dubai: <\/strong>CRDB Bank, Tanzania\u2019s largest bank, <a href=\"https:\/\/dailynews.co.tz\/crdb-sets-foot-in-dubai-financial-hub\/\" target=\"_blank\" rel=\"noopener\">opened a representative office<\/a> in Dubai International Financial Center (DIFC), aiming to channel trade finance and investment flows between East and Central Africa and the Gulf.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>We knew this was coming: <\/strong>CRDB secured approval from the Dubai Financial Services Authority <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/11\/26\/gcc-interconnection-authority-awards-contracts-for-uae-oman-electricity-link-expansion\/\" target=\"_blank\" rel=\"noopener\">in November<\/a>, after quietly setting up its Dubai presence <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/10\/06\/this-morning-binghatti-taps-banks-for-ipo-opec-agrees-to-another-production-hike-in-november\/\" target=\"_blank\" rel=\"noopener\">a month earlier<\/a> as it courted Emirati capital.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>CRDB joins a growing African banking cluster in Dubai: <\/strong>As we\u2019ve reported, South Africa\u2019s third largest bank Absa\u2019s corporate and investment banking arm <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/04\/03\/this-morning-uae-slapped-with-a-10-tariff-as-trump-triggers-global-trade-war\/?repeat=w3tc\" target=\"_blank\" rel=\"noopener\">plans<\/a> to open a representative office in 1Q 2026, while South African bank Investec established a DIFC office <a href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e73c8a9c-dc3c-451a-9e28-6acfa6e37c12\/this-morning:-more-family-offices,-lenders-set-up-shop-in-dubai-%2B-kenya-eyes-usd-1.5-bn-bailout-from-the-uae\" target=\"_blank\" rel=\"noopener\">in 2024<\/a>. Standard Bank, Rand Merchant Bank, and Nedbank are already on the ground \u2014 cementing Dubai\u2019s role as a financial gateway to Africa.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Bigger picture: <\/strong>The banking inflow mirrors a fast-deepening UAE-Africa trade and investment corridor. This week, the UAE signed <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/20\/uae-congo-ink-energy-mining-infrastructure-mous-gsu-buys-into-40capital-and-adib-adopts-open-finance\/\" target=\"_blank\" rel=\"noopener\">16 MoUs<\/a> with the Democratic Republic of Congo across mining, energy, infrastructure, agriculture, and digital transformation, following a <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/14\/two-more-cepas-in-the-bag\/\" target=\"_blank\" rel=\"noopener\">newly inked<\/a> trade partnership with Nigeria.<\/p>\n<p class=\"tag-border-left\">Data point<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>AED 65.6 bn \u2014 that was the total trading value of Sharjah\u2019s real estate sector in 2025<\/strong>, surging 64.3% y-o-y, <a href=\"https:\/\/www.wam.ae\/en\/article\/bybncv4-sharjah-real-estate-hits-record-aed656-billion\" target=\"_blank\" rel=\"noopener\">Wam<\/a> reports. The growth marks the highest annual performance, underpinned by a 26.3% increase in total transaction volumes to 132.7k. Sharjah\u2019s 2024 transactions came in at <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/10\/20\/sharjah-property-market-breaks-record\/?repeat=w3tc\" target=\"_blank\" rel=\"noopener\">AED 40 bn overall<\/a>.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The breakdown: <\/strong>Sales were up 38.4% y-o-y on the back of high demand for residential units, stable prices, and competitive rental yields. Mortgage values also rose 45.1% y-o-y to reach AED 15.5 bn, while ownership certificate transactions were up 17.6% y-o-y to 47.5k. While UAE nationals dominated the market, accounting for AED 33.6 bn in sales, some AED 18.5 bn came in from non-Arab investors, and non-Emirati Arab nationals accounted for AED 9.8 bn in sales.<\/p>\n<p class=\"tag-border-left\">The big story abroad<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>US President Donald Trump\u2019s about-turn on Greenland and a potential detente betw<\/strong><strong>een the US and the EU is dominating headlines everywhere<\/strong>, after he said the US has <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-21\/trump-holding-off-on-greenland-tariffs-citing-framework-deal?srnd=homepage-middle-east\" target=\"_blank\" rel=\"noopener\">agreed on a framework for a future deal<\/a> on the Danish country after meeting with NATO Secretary General Mark Rutte. Trump had earlier threatened to impose tariffs on eight European countries who had opposed his plans to take over Greenland, and the EU bloc was mulling ways to <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/20\/this-morning-imf-sees-mena-growing-3-9-in-2026\/\" target=\"_blank\" rel=\"noopener\">retaliate<\/a>.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Market reax:<\/strong> US stocks rallied on the news, while the USD recovered from an earlier slump this week.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>ALSO- More Middle East countries have joined the US\u2019 Board of Peace<\/strong>, following the lead of the UAE, including Saudi Arabia, Egypt, Turkey, Jordan, Kuwait, and Qatar. The board is set to begin executing Trump\u2019s 20-step Gaza peace plan, and then reportedly address other global conflicts. (<a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/saudi-arabia-turkey-egypt-jordan-indonesia-pakistan-qatar-uae-join-trumps-board-2026-01-21\/\" target=\"_blank\" rel=\"noopener\">Reuters<\/a>)<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>In AI news, OpenAI CEO Sam Altman has been meeting with investors in the Middle East, including state-backed funds in Abu Dhabi<\/strong>, ahead of a new investment round that could see the ChatGPT maker raise up to USD 50 bn, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-21\/openai-s-altman-meets-mideast-investors-for-50-billion-round?srnd=homepage-middle-east\" target=\"_blank\" rel=\"noopener\">Bloomberg<\/a> reports.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>ALSO- Siri is set to be revamped and turned into<\/strong> <strong>an AI chatbot<\/strong> as Apple looks to move ahead in the AI race. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-21\/ios-27-apple-to-revamp-siri-as-built-in-iphone-mac-chatbot-to-fend-off-openai\" target=\"_blank\" rel=\"noopener\">Bloomberg<\/a>)<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">Get <b style=\"font-weight: bold\">Enterprise<\/b> daily<\/h4>\n<\/div>\n<\/div>\n<\/div>\n<\/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 class=\"btn-green px-3 d-flex align-items-center\" href=\"\/egypt\/en\/user\/NewsLetters\" target=\"_blank\" rel=\"noopener\">Subscribe here<\/a><\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">***<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>You\u2019re reading EnterpriseAM UAE<\/strong>, your essential daily roundup of business, economics, and must-read news about the UAE, delivered straight to your inbox. We\u2019re out Monday through Friday by 7am UAE time.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>EnterpriseAM UAE is available without charge <\/strong>thanks to the generous support of our friends at Mashreq and Hassan Allam Properties. <a href=\"https:\/\/enterprise.news\/uae\/en\/user\/news-letters\" target=\"_blank\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM UAE.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Want to send us a story idea, request coverage, ask for a correction, or otherwise get in touch? <\/strong>Reach out to us on <a href=\"mailto:UAE@enterpriseAM.com\" target=\"_blank\" rel=\"noopener\">UAE@enterpriseAM.com<\/a> .<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>DID YOU KNOW that we also cover <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\" target=\"_blank\" rel=\"noopener\">Egypt<\/a><\/strong><strong>, <\/strong><strong><a href=\"https:\/\/enterprise.news\/ksa\/en\" target=\"_blank\" rel=\"noopener\">Saudi Arabia<\/a><\/strong>, and the MENA <a href=\"https:\/\/enterprise.news\/logistics\/en\" target=\"_blank\" rel=\"noopener\">logistics<\/a> industry?<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">***<\/p>\n<p class=\"tag-border-left\">Market watch<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>T<\/strong><strong>he Inter<\/strong><strong>national Energy Agency (IEA) sees global oil demand rising further this year<\/strong> to 930k bbl \/ d, up from 850k bbl \/ d in 2025, with growth coming from non-OECD markets as global economic conditions normalize following last year\u2019s tariff-induced volatility, according to its <a href=\"https:\/\/www.iea.org\/reports\/oil-market-report-january-2026\" target=\"_blank\" rel=\"noopener\">monthly oil report<\/a>. The pickup reflects normalization after last year\u2019s tariff shock. On the supply side, the IEA projects a 2.5 mn bbl \/ d rise to 108.7 mn bbl \/ d in 2026, down from the 3 mn bbl \/ d increase seen in 2025. Non-Opec+ delivers 1.3 mn bbl \/ d of this year\u2019s growth.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The gap:<\/strong> The IEA now expects global supply to exceed demand by 4.25 mn bbl \/ d in 1Q, when refinery maintenance curbs crude runs and seasonal demand softens, according to <a href=\"https:\/\/www.reuters.com\/business\/energy\/global-oil-demand-growth-rise-2026-iea-says-2026-01-21\/\" target=\"_blank\" rel=\"noopener\">Reuters<\/a> \u2019 calculations. For the full year, the agency sees an implied surplus of 3.69 mn bbl \/ d, slightly narrower than the 3.84 bbl \/ d penciled in last month\u2019s report.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Opec still holds its no surplus argument:<\/strong> Opec <a href=\"https:\/\/enterpriseam.com\/logistics\/2026\/01\/19\/today-libya-locks-in-usd-2-7-bn-for-misurata-port-expansion\/\" target=\"_blank\" rel=\"noopener\">expects<\/a> global oil demand to rise by 1.39 mn bbl \/ d this year, while demand for Opec crude looks stable at 43 mn bbl \/ d. If Opec holds this rate through 2026, supply would sit some 170k bbl \/ d below demand.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>IEA has not published its 2027 forecast yet<\/strong> \u2014 it will do so in April\u2019s edition, per the agency\u2019s <a href=\"https:\/\/www.iea.org\/data-and-statistics\/data-product\/oil-market-report-omr\" target=\"_blank\" rel=\"noopener\">timetable<\/a>.<\/p>\n<p class=\"tag-border-left\">Circle your calendar<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays, and news triggers.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/artificial-intelligence\/\">artificial intelligence<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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\/hsbc\/\">HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/india-uae\/\">India-UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/international-energy-agency-iea\/\">International Energy Agency (IEA)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mubadala\/\">Mubadala<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/oil-gas\/\">Oil &amp; 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A ValuStrat <a href=\"https:\/\/ent.news\/2026\/1\/834.pdf\" target=\"_blank\" rel=\"noopener\">market outlook (pdf)<\/a> sees capital gains slowing to 10% in 2026, though the slowdown is uneven.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The good news is for those of you who rent: <\/strong>Residential rental growth is forecast to flatline at 0.0% in 2026 as rents seem to have hit a ceiling.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Sales are also expected to taper off amid a slowdown in offplan project launches<\/strong> over the next year, according to ValuStrat.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>On the other hand, if you\u2019re eyeing a villa or a townhouse, don\u2019t expect prices to let up.<\/strong> Villas and townhouses \u2014 less than 20% of total housing stock \u2014 are still projected to post 17.7% price growth, more than double that of apartments at 7.4%. The driver isn\u2019t speculation, but a persistent shortage of single-family homes.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Supply won\u2019t fix it: <\/strong>While 131.2k residential units sit in the pipeline, more than 80% are apartments, and ValuStrat warns that actual deliveries will likely undershoot due to construction delays, leaving the villa gap largely unaddressed.<\/p>\n<p class=\"tag-border-left\">Office prices are set to grow at a faster rate<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Capital values and rents are forecast to rise 15% in 2026<\/strong>, bucking the global death of the office narrative. Occupancy is already near 90%, while just 1.6 mn sq ft of new supply is expected, pointing to a sustained squeeze in Grade-A stock.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Demand is being driven by corporate relocations, new business formation, and sustained inflows of global talent<\/strong>, as Dubai continues to reinforce its role as a regional headquarters hub even as other global cities retrench.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Population pressure is rising faster than headline residency figures suggest.<\/strong> While Dubai\u2019s resident population is projected to reach 4.7 mn, its peak-hour population (including commuters and tourists) is already hitting 6.5 mn, stretching transport, utilities, and logistics.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>That density gap helps explain the emirate\u2019s largest-ever budget cycle<\/strong>, with the 2026 budget alone totaling <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/11\/24\/dubai-ruler-approves-record-aed-302-7-bn-budget-for-2026-2028\/\" target=\"_blank\" rel=\"noopener\">AED 99.5 bn<\/a> and earmarking 48% for infrastructure, effectively underwriting real estate demand by expanding capacity rather than trying to cool prices.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Retail, on the other hand, is facing growing headwinds<\/strong>. E-commerce sales are projected to reach AED 63.2 bn by 2027, putting sustained pressure on bricks-and-mortar operators.<\/p>\n<p class=\"tag-border-left\">The bigger picture<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Dubai\u2019s property market isn\u2019t overheating, it\u2019s stratifying. <\/strong>Slower aggregate growth masks acute shortages in villas and prime offices, while infrastructure spending is doing the heavy lifting to keep the system functional as density rises. For investors, 2026 looks less like a momentum trade and more like a wager on scarcity, format, and location.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/the-big-story-today\/\">THE BIG STORY TODAY<\/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=\"111813 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=\"111813\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/22\/111813\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-111813\" class=\"content-area-description single-story post-111813 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreq.com\/en\/uae\/private\/become-a-customer\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/741.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"111814\" 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=\"111814\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/22\/gulf-national-oil-companies-are-spending-more-than-their-international-counterparts-in-the-next-two-years\/\">\r\n                            Gulf national oil companies are spending more than international counterparts in the next two years                        <\/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\/2026\/01\/22\/gulf-national-oil-companies-are-spending-more-than-their-international-counterparts-in-the-next-two-years\/\" target=\"_blank\">\n                    Open in new tab                    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years\">\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=Gulf+national+oil+companies+are+spending+more+than+their+international+counterparts+in+the+next+two+years+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2026%2F01%2F22%2Fgulf-national-oil-companies-are-spending-more-than-their-international-counterparts-in-the-next-two-years%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\/2026\/01\/22\/gulf-national-oil-companies-are-spending-more-than-their-international-counterparts-in-the-next-two-years\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/1\/699.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"111815\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/22\/gulf-national-oil-companies-are-spending-more-than-their-international-counterparts-in-the-next-two-years\/699-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/1\/699.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"699.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/1\/699.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/1\/699.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-111814\" class=\"content-area-description single-story post-111814 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam-uae tag-investment-watch tag-oil-gas tag-oil-and-gas tag-renewables wpautop entry\">\n\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;text-align: left\"><strong>Gulf national oil firms continue to ramp up spending, though with som<\/strong><strong>e refocusing:<\/strong> GCC national oil companies (NOCs) are expected to be bigger spenders than international oil firms over the next two years as they double down on renewables and downstream energy capacity, and continue to execute their diversification plans, according to an S&amp;P Global <a href=\"https:\/\/www.spglobal.com\/ratings\/en\/regulatory\/article\/gcc-2026-energy-outlook-capex-capacity-consolidation-s101656414?utm_campaign=emerging-markets&amp;utm_source=newsletter&amp;utm_medium=link&amp;utm_product=No%20product&amp;utm_content=GCC&amp;mkt_tok=NDQ4LURaRi00NzcAAAGfdHSV7GJ5ivKHQIBWX0LVN_i65yg8lxqj_Or0YWIj4_EstOx7CauiaGwRmiemsbNfv5TMf_GMz-NlixjGs_2J9UY_yGmNh1dEbxdRh0k\" target=\"_blank\" rel=\"noopener\">report<\/a>.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>By the numbers: <\/strong>Gulf NOCs\u2019 spending is estimated to average around USD 115-125 bn between 2025 and 2027, up from USD 110-115 bn in 2024, albeit with spending growth coming in at a more moderate rate than previous years.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Meanwhile, international oil players appear likely to rein in spending<\/strong>, continuing the downward trend seen over the past 18 months as weaker oil prices persist.<\/p>\n<p class=\"tag-border-left\">Gulf NOCs want to level up their value chain + upstream operations<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The uptick in spending is coming primarily on the back<\/strong><strong> of expansion plans in the UAE and Qatar<\/strong>, while the majority of Saudi Arabia\u2019s spending is set to go toward maintenance costs. Gulf players\u2019 focus is likely to stay on upstream activities, particularly production and exploration, as they pursue better value-chain integration through trading and a more reliable flow of feedstock from upstream to downstream operations.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>REMEMBER-<\/strong> Adnoc recently signed off on a <a href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9c09bd8e-e356-413a-8fab-2f371bee73d0\/this-morning:-adnoc-eyes-usd-150-bn-in-capex-until-2030-%2B-lunate-to-invest-usd-1-bn-in-mgx%3F\" target=\"_blank\" rel=\"noopener\">USD 150 bn capex plan<\/a> through 2030, as it looks to <a href=\"https:\/\/adnocgas.ae\/ar\/news-and-media\/press-releases\/2023\/uae-president-chairs-adnoc-board-of-directors-meeting?\" target=\"_blank\" rel=\"noopener\">expand<\/a> production capacity to 5 mn bbl \/ d by 2027.<\/p>\n<p class=\"tag-border-left\">LNG + renewables are key for the next stage<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Gulf players are increasingly directing investments toward gas projects and expanding their international footprint.<\/strong> Regional NOCs plan to continue increasing their renewables deployment and acquiring stakes in clean energy leaders, while expanding their low-carbon energy portfolios through increased low-carbon hydrogen capacity and LNG expansion. Diversification efforts will likely also involve boosting downstream activities through better integration and more investments in refineries.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>REMEMBER-<\/strong> <strong>Adnoc has been a big spender on gas overseas:<\/strong> Adnoc\u2019s low-carbon investment unit XRG <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/04\/02\/xrg-takes-stake-in-mozambiques-rovuma-basin-concession-veon-secures-usd-210-mn-from-gcc-banks-icbc-standard-bank\/?repeat=w3tc\" target=\"_blank\" rel=\"noopener\">acquired<\/a> a 10% stake in Mozambique\u2019s Rovuma basin and <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/15\/xrg-snaps-up-stake-in-turkmenistan-gas-block\/?repeat=w3tc\" target=\"_blank\" rel=\"noopener\">inked<\/a> a production sharing contract for Turkmenistan\u2019s Block I gas, and is planning to develop an LNG project in Argentina.<\/p>\n<p class=\"tag-border-left\">So, why is capex spending rising at a slower rate?<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Major<\/strong> <strong>capacity expansion projects are nearing completion and production from recent megaprojects is set to come online soon.<\/strong> While overall capex will remain high due to investments in production capacity, moderating spending allows GCC NOCs to manage liquidity, protect credit quality, and reduce pressure on the oilfield services sector.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>This reduction might negatively impact other elements of the industry:<\/strong> A tighter spending approach is expected to reduce rig demand, stabilize average day rates, and put pressure on oilfield service providers\u2019 margins. On the other hand, industry consolidation may help rebalance rig supply and demand, providing support for day rates.<\/p>\n<p class=\"tag-border-left\">Looking ahead<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>GCC NOCs\u2019 spending plans remain resilient to moderately lower oil prices in <\/strong><strong>the short <\/strong><strong>term<\/strong>, given adequate financial buffers to absorb price fluctuations while maintaining strong credit metrics.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>For now, oil price forecasts are highly uncertain: <\/strong>Most analysts are expecting Brent to hover between USD 60 and USD 65 a barrel this year, though markets remain volatile amid geopolitical tensions and warnings of a potential supply glut.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/oil-gas\/\">Oil &amp; Gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/renewables\/\">renewables<\/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=\"111816 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=\"111816\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/22\/111816\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-111816\" class=\"content-area-description single-story post-111816 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\/ads\/imgs\/432.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"111817\" 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=\"111817\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/22\/the-earnings-hour-is-upon-us\/\">\r\n                            The earnings hour is upon us: CBD and ADIB kick things off                        <\/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\/2026\/01\/22\/the-earnings-hour-is-upon-us\/\" 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\/2026\/01\/22\/the-earnings-hour-is-upon-us\/')\">\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\/2026\/01\/22\/the-earnings-hour-is-upon-us\/\">\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=The earnings hour is upon us&url=https:\/\/enterpriseam.com\/uae\/2026\/01\/22\/the-earnings-hour-is-upon-us\/\">\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\/2026\/01\/22\/the-earnings-hour-is-upon-us\/&title=The earnings hour is upon us\">\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=The+earnings+hour+is+upon+us+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2026%2F01%2F22%2Fthe-earnings-hour-is-upon-us%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\/2026\/01\/22\/the-earnings-hour-is-upon-us\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1113.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"111818\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/22\/the-earnings-hour-is-upon-us\/1113-jpg-28\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1113.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1113.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1113.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1113.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-111817\" class=\"content-area-description single-story post-111817 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-abu-dhabi-islamic-bank tag-banking tag-commercial-bank-of-dubai tag-earnings-watch tag-enterpriseam-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"tag-border-left\">ADIB closed 2025 with a 16% bottom line jump<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Abu Dhabi Islamic Bank (ADIB) reported a 20% y-o-y jump in 4Q net income <\/strong><strong>after<\/strong><strong> tax to AED 1.8 bn<\/strong>, alongside a 20% rise in operating income to AED 3.2 bn, as financing volumes and fee income offset the impact of lower rates, according to its full-year <a href=\"https:\/\/ent.news\/2026\/1\/848.pdf\" target=\"_blank\" rel=\"noopener\">management discussion and analysis (pdf)<\/a>.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>For 2025, ADIB posted AED 7.1 bn in net income after tax<\/strong>, up 16% y-o-y, on AED 12.3 bn in revenue, also up 16% y-o-y. Customer financing expanded 26% to AED 186 bn, deposits grew 25% to AED 229 bn, and non-funded income rose 17%, lifting fee income to 39% of operating revenue and pointing to more diversified income streams.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Capital and outlook: <\/strong>The bank proposed an AED 3.5 bn dividend, or 97 fils per share, marking an AED 495 mn boost from the last payout.<\/p>\n<p class=\"tag-border-left\">CBD posts AED 3.5 bn income for 2025<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Commercial <\/strong><strong>Bank of Dubai (CBD) reported a 15.5% y-o-y increase in net income to <\/strong><strong>AED 3.5 bn <\/strong>in 2025, according to its <a href=\"https:\/\/ent.news\/2026\/1\/838.pdf\" target=\"_blank\" rel=\"noopener\">financials (pdf)<\/a> and a separate <a href=\"https:\/\/ent.news\/2026\/1\/839.pdf\" target=\"_blank\" rel=\"noopener\">management discussion and analysis report (pdf)<\/a>. Total operating income increased 7.8% y-o-y to reach AED 5.9 bn, underpinned by a 9.3% uptick in interest income on the back of strong loan and CASA balances.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Driving the growth: <\/strong>The bank attributed its performance to strong customer demand, robust lending activity, and continued engagement from businesses and public sector investors. Demand from individuals and businesses led CBD to issue over AED 100 bn in loans, up 8.6% y-o-y.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-islamic-bank\/\">Abu Dhabi Islamic Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"111819\" 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=\"111819\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/22\/interim-ceo-steps-in-at-tabreed\/\">\r\n                            Interim CEO steps in at Tabreed                        <\/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\/2026\/01\/22\/interim-ceo-steps-in-at-tabreed\/\" 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\/2026\/01\/22\/interim-ceo-steps-in-at-tabreed\/')\">\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\/2026\/01\/22\/interim-ceo-steps-in-at-tabreed\/\">\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=Interim CEO steps in at Tabreed&url=https:\/\/enterpriseam.com\/uae\/2026\/01\/22\/interim-ceo-steps-in-at-tabreed\/\">\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\/2026\/01\/22\/interim-ceo-steps-in-at-tabreed\/&title=Interim CEO steps in at Tabreed\">\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=Interim+CEO+steps+in+at+Tabreed+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2026%2F01%2F22%2Finterim-ceo-steps-in-at-tabreed%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\/2026\/01\/22\/interim-ceo-steps-in-at-tabreed\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/1\/856.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"111820\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/22\/interim-ceo-steps-in-at-tabreed\/856-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/1\/856.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"856.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/1\/856.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/1\/856.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-111819\" class=\"content-area-description single-story post-111819 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-uae tag-moves tag-tabreed wpautop entry\">\n\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;text-align: left\"><strong>Tabreed<\/strong><strong> names interim CEO: <\/strong>UAE district cooling firm Tabreed tapped Yousif Al Hammadi (<a href=\"https:\/\/www.linkedin.com\/in\/dr-yousif-al-hammadi-bb41b8194\/?originalSubdomain=ae\" target=\"_blank\" rel=\"noopener\">LinkedIn<\/a>) as the firm\u2019s interim CEO, according to a <a href=\"https:\/\/ent.news\/2026\/1\/840.pdf\" target=\"_blank\" rel=\"noopener\">DFM disclosure (pdf)<\/a>. This follows former CEO Khalid Al Marzooqi's (<a href=\"https:\/\/ae.linkedin.com\/in\/khalid-al-marzooqi-a66b2435\" target=\"_blank\" rel=\"noopener\">LinkedIn<\/a>) retirement <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/11\/17\/tabreed-ceo-retires\/\" target=\"_blank\" rel=\"noopener\">in November<\/a>.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Al Hammadi joined the firm in 2014<\/strong>, having most recently served as chief asset management officer. He was previously vice president of Mubadala\u2019s construction management division and currently sits on the board of Pal Cooling, which was acquired by Tabreed <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/07\/01\/multiply-group-agrees-to-offload-pal-cooling-to-tabreed-cvc\/\" target=\"_blank\" rel=\"noopener\">last year<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tabreed\/\">Tabreed<\/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=\"111821\" 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=\"111821\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/22\/ad-ports-sells-off-more-land-more-local-defense-agreements-another-ai-startup-funding-round-and-a-big-ticket-abu-dhabi-real-estate-project\/\">\r\n                            AD Ports sells off more land, more local defense production agreements, another AI startup funding round, and a big-ticket Abu Dhabi real estate project                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/22\/ad-ports-sells-off-more-land-more-local-defense-agreements-another-ai-startup-funding-round-and-a-big-ticket-abu-dhabi-real-estate-project\/\" 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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href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/22\/ad-ports-sells-off-more-land-more-local-defense-agreements-another-ai-startup-funding-round-and-a-big-ticket-abu-dhabi-real-estate-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/303.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"111822\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/22\/ad-ports-sells-off-more-land-more-local-defense-agreements-another-ai-startup-funding-round-and-a-big-ticket-abu-dhabi-real-estate-project\/303-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/303.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"303.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/303.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/303.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-111821\" class=\"content-area-description single-story post-111821 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-abu-dhabi tag-ad-ports tag-ad-ports-group tag-also-on-our-radar tag-artificial-intelligence-2 tag-defense tag-edge-group tag-enterpriseam-uae tag-real-estate tag-startup-watch tag-startups wpautop entry\">\n\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\">\n<p class=\"tag-border-left\">AD Ports sells off more Kezad land<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>AD <\/strong><strong>Ports Group sold Kezad Logistics Park Freezone 3 to Mair Group for AED 295 mn<\/strong>, extending a run of capital recycling transactions, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/1\/830.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The sale will see the Abu Dhabi investment firm snap up four warehouse blocks, while AD Ports retains long-term control of the land under a 50-year Musataha agreement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The move is an asset reset rather than an exit<\/strong>, continuing the state player\u2019s plan to optimize land assets and liberate liquidity for expansion plans. Since last October, the group has recycled more than AED 4.2 bn through similar plays, including transactions with <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/10\/07\/mira-developments-to-launch-aed-2-5-bn-mixed-use-project-on-ad-ports-land\/\" style=\"\" rel=\"noopener\">Mira Developments<\/a> (AED 2.5 bn), <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/19\/yas-launches-eshara-for-space-systems-ad-ports-sells-off-more-kezad-town-land-and-aerogulf-acquires-evtols\/\" style=\"\" rel=\"noopener\">Danube<\/a> (AED 840 mn), and <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/11\/13\/aldar-buys-aed-570-mn-logistics-assets-from-ad-ports\/\" style=\"\" rel=\"noopener\">Aldar<\/a> (AED 570 mn). Management has consistently framed these sales as a way to monetize non-core assets, strengthen its balance sheet, and redeploy capital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Adex backs bigger wagers in transition trade<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong>Abu Dhabi Exports Office (Adex) expanded a revolving credit <\/strong><strong>f<\/strong><strong>acility for <\/strong><strong>Swiss-based energy and commodities trader BGN <\/strong>to USD 400 mn, up from USD 282.5 mn, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/abu-dhabi-exports-office-grows-bgn-finance-facility-to-400mln-s4su0k1i\" style=\"\" rel=\"noopener\">press release<\/a>. The added headroom comes as BGN eyes growth across LNG, critical minerals, metals, and transition fuels.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The setup:<\/strong> The facility was oversubscribed and syndicated across 15 lenders spanning the Middle East, Africa, and Asia, with First Abu Dhabi Bank acting as sole coordinator and bookrunner.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">The UAE is doubling down on unmanned systems<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Defense Ministry inked contracts worth AED 2.4 bn across the first <\/strong><strong>two days of Umex<\/strong><strong> and SimTex<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/ar\/%D8%A7%D9%84%D8%A8%D9%8A%D8%A7%D9%86%D8%A7%D8%AA-%D8%A7%D9%84%D8%B5%D8%AD%D9%81%D9%8A%D8%A9\/%D8%A8%D9%8A%D8%A7%D9%86%D8%A7%D8%AA-%D8%AD%D9%83%D9%88%D9%85%D9%8A%D8%A9\/236-2026-hqzopzn4\" style=\"\" rel=\"noopener\">press release<\/a>. This included purchases of aircraft and drones by Edge, a variety of equipment and vehicles by Habari Defense and Security. This adds to some <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/21\/new-defense-jv-and-agreements-dubai-holding-makes-moves-in-mallorca-and-ce-ventures-backs-us-biotech\/\" style=\"\" rel=\"noopener\">AED 879.8 mn<\/a> in contracts signed on day one. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Calidus, Hameem, Aergility partner to build VTOL aircraft locally<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local defense production just got another push:<\/strong> Abu Dhabi-based defense contractor Calidus and technology firm Hameem Technologies are partnering with US aerospace company Aergility to develop and manufacture the Alrasid and Altaresh unmanned VTOL aircraft in the UAE, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/byc8sjt-calidus-hameem-technologies-aergility-collaborate\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The aircraft, designed for intelligence, surveillance, and logistics operations, will be produced at Calidus\u2019 facilities in Abu Dhabi.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- This follows a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/21\/new-defense-jv-and-agreements-dubai-holding-makes-moves-in-mallorca-and-ce-ventures-backs-us-biotech\/?repeat=w3tc\" style=\"\" rel=\"noopener\">busy week<\/a><\/strong><strong> for Emirati defense: <\/strong>Calidus also teamed up with US firm General Atomics to locally produce two unmanned aircraft, while Edge and Qatar\u2019s Barzan Holdings set up a JV for advanced defense tech and Tawazun Council signed AED 880 mn in contracts for autonomous air and maritime systems. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">OpenCX raises USD 7 mn in funding<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE<\/strong><strong>\u2019s OpenCX secures USD 7 mn to scale AI-driven customer communications: <\/strong>UAE-based customer communication platform OpenCX raised USD 7 mn in a funding round led by US-based Y Combinator and Saudi Arabia\u2019sX by Unifonic, with participation from Abu Dhabi\u2019s Shorooq Partners, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2026\/01\/opencx-raises-7-million-ahead-saudi-expansion\" style=\"\" rel=\"noopener\">press release<\/a>. The capital will support the firm\u2019s GCC-focused expansion plans, which include opening an office in Saudi Arabia within the next few months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OpenCX? <\/strong>Founded in 2022 by Mohammad Gharbat (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/gharabat\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) and Mohammad Tabaza (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mtabaza\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), OpenCX uses AI agents to provide automated solutions for customer support operations, serving sectors like fintech and healthcare.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Abu Dhabi is pulling big-ticket capital again<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai-based developer Object One has agreed to acquire four waterfront plots on A<\/strong><strong>bu Dhabi\u2019s Reem Island <\/strong>with a total development value of AED 4.5 bn, marking one of the capital\u2019s larger land as of late, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/ar\/%D8%A7%D9%84%D8%A8%D9%8A%D8%A7%D9%86%D8%A7%D8%AA-%D8%A7%D9%84%D8%B5%D8%AD%D9%81%D9%8A%D8%A9\/%D8%A8%D9%8A%D8%A7%D9%86%D8%A7%D8%AA-%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA\/45-p5h8t0g7\" style=\"\" rel=\"noopener\">press release<\/a>. Located in the Shams Gate district, the sites span more than 2 mn sq ft of developable area and follow Object One\u2019s recent expansion into Abu Dhabi.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>The move highlights Abu Dhabi\u2019s rising appeal to developers long focused on Dubai, as capital tracks population growth and infrastructure spending in the capital. Object One brings a Dubai track record that includes more than 2.6k delivered homes and over 4.5 mn sq ft of projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ad-ports\/\">AD Ports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ad-ports-group\/\">AD Ports Group<\/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\/artificial-intelligence-2\/\">artificial intelligence.<\/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-group\/\">Edge Group<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"111823\" 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=\"111823\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/22\/gcc-debt-markets-to-hit-usd-1-25-tn-this-year\/\">\r\n                            GCC debt markets to hit USD 1.25 tn this year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/22\/gcc-debt-markets-to-hit-usd-1-25-tn-this-year\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Issuers are borrowing to refinance maturing debt, fund deficits, and bankroll large projects at home, the report said. \u201cContinued investor diversification, a wider range of funding tools and a potentially more supportive global rate environment should help sustain momentum,\u201d Sarah Alyasiri, capital markets analyst at CF Trade, told EnterpriseAM, pointing to \u201ca positive outlook for 2026 and beyond.\u201d<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Why it matters: <\/strong>In addition to a larger issuance volume, the flashing signal is the funding mix for the region\u2019s massive infrastructure pipeline. With Fitch forecasting oil prices to stay range bound around USD 63\/bbl in 2026, governments and corporates are pivoting to debt to plug funding deficits and keep giga-projects moving. The expected US Federal Reserve rate cuts (forecasted at 3.25% for 2026) will lower borrowing costs just as oil revenues soften, making the bond and sukuk markets the most attractive route for capital.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Saudi Arabia and the UAE are expected to be the primary engines<\/strong>, holding a combined 75% of the region's outstanding debt (Saudi at 46%, UAE at 29%). Qatar comes at a distant third, with 12%, followed by Bahrain at 5%, and Kuwait, and Oman at 4% each. Sukuk now make up a record 41% of the total market, with USD-denominated sukuk issuance surging 72% last year, significantly outpacing the 26.1% growth seen in conventional bonds. The GCC accounted for 35% of emerging markets (ex China) USD issuance last year.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Who\u2019s buying: <\/strong>As global portfolios branch out, Asian money has emerged as a steady source of support for GCC debt, Alyasiri added. Gulf bonds and sukuk offer \u201can attractive combination of relatively higher yields, strong credit quality and economic stability,\u201d she said, helping position the region as a competitive alternative to comparable debt in both Asian and developed markets. Quality remains high, with 84% of Fitch-rated sukuk sitting in the investment-grade category, Fitch said.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Kuwait is back: <\/strong>After an eight-year hiatus, Kuwait re-entered the chat with USD 11.25 bn in sovereign bonds, signaling a broader regional return to international markets.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Downside risks: <\/strong>Fitch flagged that local-currency issuance is uneven and largely sovereign-driven, with limited participation from banks and corporates. Outside Saudi Arabia \u2014 where SAR issuance is more active \u2014 most issuers remain reliant on USD markets, leaving funding strategies exposed to global liquidity and rate cycles. The ratings agency also highlighted widening gaps in market sophistication, with Saudi Arabia and the UAE pushing ahead with structural reforms, including fixed-income market-making in Saudi and a broader Islamic finance strategy in the UAE. Qatar expanded its primarydealer framework and, alongside the UAE, issued digitally native notes.<\/p>\n<p class=\"tag-border-left\">What\u2019s next<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Watch for a rise in alternative funding: <\/strong>While public markets are growing, Fitch notes that Saudi issuers are increasingly utilizing private credit and syndicated financing to diversify their toolkit.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Also expect a surge in capital instruments:<\/strong> \u201cIf economic growth continues north of 4%, [Saudi] banks need to expand their capitalization and revisit their risk matrix so it fits better with what\u2019s going on in the economy, which is very serious,\u201d Ihsan Buhulaiga, a Saudi economist, told the <a href=\"https:\/\/www.ft.com\/content\/c5a49529-639c-42d7-b9ba-c611d756623c\" target=\"_blank\" rel=\"noopener\">Financial Times<\/a>. \u201cYou cannot just sit pretty and say \u2018OK, we\u2019ll continue as usual as we used to do in 2010.\u2019 No, things are different now.\u201d Saudi banks\u2019 loan-to-deposit ratio climbed to around 106.2% by 9M 2025, well above UAE peers at roughly 75%, according to <a href=\"https:\/\/www.alvarezandmarsal.com\/press-release\/alvarez-marsal-releases-saudi-arabia-banking-pulse-for-q3-2025\" target=\"_blank\" rel=\"noopener\">a report<\/a> by Alvarez &amp; Marsal, reflecting how credit growth has outpaced deposit inflows and pushed banks toward external funding sources.<\/p>\n<p class=\"tag-border-left\">MARKETS THIS MORNING-<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">Markets are rebounding from this week\u2019s bout of volatility, riding the high of US President Donald Trump walking back on previous threats to impose tariffs on EU countries over Greenland. Asia-Pacific markets are uniformly in the green in early trading, led by South Korea\u2019s Kospi, buoyed by Samsung SDI, Samsung Electronics, and Doosan. US markets are also on track to open in the green later today on the same tailwinds.<\/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\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">10,206<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">+0.1% (YTD: +2.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">6,397<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">+0.4% (YTD: +5.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Nasdaq Dubai UAE20<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">5,108<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">+0.0% (YTD: +4.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\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 style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">Buy 3.67<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\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-up\">\n<td class=\"td-list-up\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">3.4% o\/n<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">3.7% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">10,948<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">+0.3% (YTD: +4.4%)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 50.2pt\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">46,049<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">+0.3% (YTD: +10.1%)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 50.2pt\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\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 style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">6,876<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">+1.2% (YTD: +0.4%)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 50.2pt\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">10,138<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">+0.1% (YTD: +2.1%)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 50.2pt\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">5,883<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">-0.2% (YTD: +1.6%)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 50.2pt\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">USD 65.28<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 50.2pt\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">USD 5.04<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">+3.3%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 50.2pt\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">USD 4,787<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">-1.1%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 50.2pt\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">USD 89,988<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">+1.8% (YTD: +2.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\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 style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">AED 3.78<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">-0.5% (YTD: +0.8%)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 50.2pt\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\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 style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">515.17<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">-0.3% (YTD: -0.5%)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 50.2pt\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>VIX (Volatility Index)<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">USD 16.90<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">-15.9% (YTD: +13.0%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The ADX rose 0.1% yesterday<\/strong> on turnover of AED 1.2 bn. The index is up 2.1% YTD.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>In the green: <\/strong>Ins. House (+13.5%), Hayah Ins. Company (+9.9%), and Pure Health Holding (+9.4%).<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>In the red: <\/strong>E7 Group Warrants (-9.8%), Emirates Ins. Co (-4.1%), and Orascom Construction (-3.9%).<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Over on the DFM<\/strong>, the index rose 0.4% on turnover of AED 556.6 mn. Meanwhile, Nasdaq Dubai remained flat.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt-watch\/\">DEBT 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=\"111825\" 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\/2026\/01\/22\/111825\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-111825\" class=\"content-area-description single-story post-111825 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\">JANUARY  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-24 January (Wednesday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/acresme.com\/\" style=\"\">Acres Real Estate Exhibition<\/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>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>28-30 January (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wcoomd.org\/en\/events\/upcoming-events\/technology-conference-2026.aspx\" style=\"\">World Customs Organization Technology Conference<\/a><\/span><span>, <\/span><span>Adnec<\/span><span style=\"font-weight:400;\"> Center, Abu Dhabi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>31 January - 7 February (Saturday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/abu-dhabi.platinumlist.net\/event-tickets\/mubadala-abu-dhabi-open?utm_source=Google&utm_medium=P-Max&utm_campaign=MADO2026-PMax-Conversion&gad_source=1&gad_campaignid=23138933896&gbraid=0AAAAAqSmmAEtRc4Im65PSU2vo--3YbKzh&gclid=CjwKCAjwgeLHBhBuEiwAL5gNEcmIDto53W6gHSmaL-f0vIhZZ7YXPJCKOOjQqUyhhzVAF6LaZUmGBBoCf7EQAvD_BwE\" style=\"\">Mubadala Abu Dhabi Open<\/a><\/span><span style=\"font-weight:400;\">, International Tennis Center, Zayed Sports City.<\/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   <\/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;\">Signposted to happen sometime this month: Investopia, Lagos, Nigeria. <\/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:\/\/www.worldgovernmentssummit.org\/events\/2026\" style=\"\">The World Governments 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:400;\">4 February (Wednesday) Ministerial dialogue for Pax Silica members, Washington, DC. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-5 February (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/proptechconnect.com\/\" style=\"\">PropTech Connect Middle East<\/a><\/span><span style=\"font-weight:400;\">, Grand Hyatt Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-6 February (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/forums.menamoney.org\/product\/test-arab-actuarial-conference-2026\/\" style=\"\">Arab Actuarial Conference<\/a><\/span><span style=\"font-weight:400;\">, Millennium Plaza Downtown Hotel, Dubai. <\/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>9-12 February (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldhealthexpo.com\/events\/healthcare\/dubai\/en\/home.html\" style=\"\">World Health Expo (WHX)<\/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>10-11 February (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/forbesmiddleeastevents.com\/top-advisors-investors-summit-abu-dhabi\/\" style=\"\">Top Advisors and Investors Summit<\/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;\">MARCH   <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 March (Thursday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.socialcapital2026.com\/\" style=\"\">Social Capital 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>28-29 March (Saturday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/eicalcongress.com\/\" style=\"\">Emirates International Congress on AI & Visionary Leadership in Transforming Healthcare<\/a><\/span><span style=\"font-weight:400;\">, Adnec Center Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 March - 2 April (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/iaapa.org\/expos-and-events\/expo-middle-east\/on-site-information\" style=\"\">IAAPA Middle East Exhibition and Conference<\/a><\/span><span style=\"font-weight:400;\">, Adnec Center, 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;\">APRIL   <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7-9 April (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adghw.com\/\" style=\"\">Future Health Summit<\/a><\/span><span style=\"font-weight:400;\">, Adnec Center Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-15 April (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aimcongress.com\/\" style=\"\">AIM 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>13-15 April (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/glass-show.com\/\" style=\"\">The International Glass Manufacturing Show<\/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>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><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-23 April (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.uitpsummit.org\/dubai2026\/\" style=\"\">UITP Public Transport 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;\">MAY  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-15 May (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dubaifuturefinanceweek.com\/\" style=\"\">Dubai Future Finance Week<\/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>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><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">19-20 May (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.capitalmarketsummit.ae\/\" style=\"\">Capital Market 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>19-22 May (Tuesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mediaoffice.abudhabi\/en\/energy\/under-the-directives-of-khaled-bin-mohamed-bin-zayed-department-of-energy-to-launch-abu-dhabi-water-power-week-in-may-2026\/\" style=\"\">Abu Dhabi Water and Energy Week<\/a><\/span><span style=\"font-weight:400;\">, Adnec Center, 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;\">JUNE   <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15 June - 15 September (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dubaimallathon.ae\/\" style=\"\">Dubai Mallathon<\/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;\">JULY  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>31 July (Friday):<\/span> <span>Large businesses achieving annual revenues equal to or above AED 50<\/span> <span>mn<\/span> <span style=\"font-weight:400;\">must appoint an accredited service provider for e-invoicing implementation. <\/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 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;\">DECEMBER   <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-4 December (Wednesday-Friday):<\/span> <span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unwater.org\/news\/2026-un-water-conference\" style=\"\">UN Water Conference<\/a><\/span><span>, UAE.<\/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 style=\"font-weight:400;\">The UAE to host the Arab Competition Forum;<\/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 2027:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">1 January: Deadline for large businesses to implement e-invoicing;<\/span><\/li>\n<li><span>1Q 2027: Completion of the first phase of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f4e973fb-1779-41cf-b29f-f4df8c403414\/this-morning:-india%25e2%2580%2599s-kotak-receives-sca-license,-plans-retail-focused-funds-in-4q-2025-%2B-ifza-in-panama%3F\" style=\"\">Hassyan seawater desalination project<\/a><\/span><span style=\"font-weight:400;\">; <\/span><\/li>\n<li><span style=\"font-weight:400;\">31 March: Small businesses with annual revenues of less than AED 50 mn are obliged to contract with an accredited service provider for e-invoicing implementation;<\/span><\/li>\n<li><span>31 March: Government entities<\/span> <span style=\"font-weight:400;\">are required to appoint an accredited service provider for e-invoicing implementation;<\/span><\/li>\n<li><span style=\"font-weight:400;\">1 July: Deadline for small businesses to implement e-invoicing;<\/span><\/li>\n<li><span style=\"font-weight:400;\">1 October: Deadline for governments to implement e-invoicing;<\/span><\/li>\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 in 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>The commissioning of the seventh phase of Mohammed bin Rashid Al Maktoum Solar Park.<\/span><\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Plus: Gulf national oil firms to ramp up spending<\/p>\n","protected":false},"featured_media":111807,"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-111806","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"be1b198c-6dbe-46dc-a11e-8bdb011daba7","teaser":"Plus: Gulf national oil firms to ramp up spending","photo_url":"https:\/\/ent.news\/2025\/2\/2347.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 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