{"id":117769,"date":"2026-06-02T00:00:00","date_gmt":"2026-06-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=117769"},"modified":"2026-06-02T03:03:07","modified_gmt":"2026-06-02T03:03:07","slug":"abu-dhabis-next-big-sports-wager-cricket","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/abu-dhabis-next-big-sports-wager-cricket\/","title":{"rendered":"Abu Dhabi\u2019s next big sports wager: Cricket"},"content":{"rendered":"<section id=\"117771\" 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=\"117771\">\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\/06\/02\/this-morning-petrofac-sells-uae-unit-to-us-uk-players-alec-clinches-construction-contract-for-the-sphere\/\">\r\n                            THIS MORNING: Petrofac sells UAE unit to US, UK players + Alec clinches construction contract for The Sphere                        <\/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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data-permalink=\"https:\/\/enterpriseam.com\/uae\/2026\/06\/02\/this-morning-petrofac-sells-uae-unit-to-us-uk-players-alec-clinches-construction-contract-for-the-sphere\/109-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/109.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"109.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/109.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/109.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-117771\" class=\"content-area-description single-story post-117771 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-ajman tag-artificial-intelligence tag-enterpriseam-uae tag-infrastructure tag-international-holding-company tag-ma tag-mgx tag-oil-and-gas tag-sports 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;orphans:2;widows:2;text-align:left\"><strong>Good morning, frien<\/strong><strong>ds. <\/strong>We have an M&A-heavy issue this morning, as we take a look at two major acquisitions: Uber\u2019s acquisition of a portion of e&\u2019s stake in Careem (which could, down the line, turn into a full acquisition) and Abu Dhabi\u2019s Cricket & Sports Hub\u2019s acquisition of majority control of the T10 competition. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We dive into why cricket is actually an interesting wager for Abu Dhabi<\/strong> \u2014 by virtue of both its massive South Asian expat community and the sport\u2019s growing appeal \u2014 and why the Uber acquisition comes at an interesting time for the firm, in the news well below. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s also Abu Dhabi Investment Authority backing Israeli-founded and London-headquartered insurtech Sapiens<\/strong>, and news that <strong>Emaar\u2019s Mohamed Alabbar and Abu Dhabi\u2019s International Holding Company are both in the running for a potential acquisition of the now-troubled food producer IFFCO Group. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT BE<\/strong><strong>FORE WE DIVE IN- Here\u2019s whe<\/strong><strong>re ceasefire negotiations between the US and Iran <\/strong><strong>currently stand: <\/strong>After Tehran said it <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2026\/06\/01\/iran-us-trade-strikes-deal-end-war-remains-elusive\/\" style=\"\">suspended negotiations<\/a> with Washington due to Israel\u2019s recent ramp up of its assault on Hezbollah in Lebanon, US President Donald Trump <a target=\"_blank\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/116677048828976704\" style=\"\">claimed<\/a> that he brokered a truce after talks with Tel Aviv and the Iran-backed group, and that US-Iran negotiations <a target=\"_blank\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/116676087445077253\" style=\"\">are progressing<\/a> at a \u201crapid pace.\u201d Lebanon later <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/us-says-it-struck-iranian-military-sites-tehran-responds-with-air-base-attack-2026-06-01\/\" style=\"\">announced<\/a> a partial ceasefire, despite reports of ongoing strikes by Hezbollah. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Attacks continued to target the region yesterday: <\/strong>Iranian missiles targeted US forces in Kuwait yesterday. The missiles were <a target=\"_blank\" href=\"https:\/\/x.com\/CENTCOM\/status\/2061419519705223257\" style=\"\">intercepted<\/a> with no injuries reported. This came after the US <a target=\"_blank\" href=\"https:\/\/www.centcom.mil\/MEDIA\/PUBLIC-RELEASES\/Article\/4504919\/us-defends-disables-threats-in-response-to-iranian-aggression\/\" style=\"\">targeted<\/a> Iranian radar and command and control sites on Saturday and Sunday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s another hot summer day<\/strong> in both Dubai and Abu Dhabi, with a high of 39\u00b0C and lows between 30-31\u00b0C, according to our favorite weather app. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/78.jpg?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Earning well is not the same as investing well \u2014 and for most mid-level executives and entrepreneurs, the gap between the two is wider than they\u2019d like to admit. The financial landscape has shifted. Regional markets are opening up, AI is rewriting how portfolios get managed, and Real Estate Investment Trusts (REITs) are entering the conversation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">And the questions that used to feel straightforward \u2014 buy or rent, fund the startup or play it safe, finance the car now or wait it out \u2014 are harder to answer than ever.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In Issue 2 of EnterpriseAM Money Matters, we get into the decisions that don\u2019t have easy answers, because at this stage, playing it safe is the riskiest move you can make.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a target=\"_blank\" href=\"https:\/\/sub.ent.news\/eg\/\" style=\"\">Tap or click here to subscribe to the Egypt edition<\/a>, delivered to your inbox Wednesday, June 3.<\/p>\n<p class=\"tag-border-left\">Watch this space <\/p>\n<p><a target=\"_blank\" id=\"id.tlf8lbjvv3dt\"><\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a>  <strong>ENERGY \u2014 <\/strong><strong>UK<\/strong><strong>-based energy services company Petrofac has completed<\/strong><strong> the <\/strong><strong>sale of its UAE unit, Petrofac Emirates<\/strong>, to a consortium led by US investment firm Mason Capital Management and London-based hedge fund manager Pearlstone Alternative, according to a <a target=\"_blank\" href=\"https:\/\/www.petrofac.com\/media\/news\/completion-of-sale-of-petrofac-emirates\" style=\"\">press release<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The plan: <\/strong>The UAE business, which houses Petrofac\u2019s core engineering and construction operations in the Emirates, will now operate as a standalone company under new ownership with a clean balance sheet. Petrofac\u2019s UAE operations include a USD 1.2 bn Adnoc <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/06\/11\/adnoc-gas-rich-gas-development-project-kicks-off\/\" style=\"\">gas expansion<\/a> on Das Island, a <a target=\"_blank\" href=\"http:\/\/enterprise.news\/uae\/en\/news\/story\/d668234f-7225-4323-a7d0-dbfd409f7b0c\/adnoc-inks-aed-2-bn-contracts-to-expand-gas-infrastructure\" style=\"\">compressor plant<\/a> at Habshan, and a carbon-capture facility. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND<\/strong><strong>- <\/strong><a target=\"_blank\" href=\"https:\/\/www.petrofac.com\/media\/news\/petrofac-emirates-acquired-by-mason-capital-management-led-consortium?utm_source=linkedin&utm_medium=social&utm_campaign=news&utm_content=petrofac-emirates-acquired-by-mason-capital-management-led-consortium\" style=\"\">Last March<\/a>, Petrofac agreed to sell Petrofac Emirates to the Mason-led consortium as part of a broader restructuring plan aimed at stabilizing the group following mounting debt. <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/11\/26\/this-morning-airtel-money-looks-set-for-a-uae-ipo-in-2026-new-mall-coming\/\" style=\"\">Last November<\/a>, its UAE operations were reported to be \u201ccontinuing as normal\u201d despite Petrofac itself carrying USD 4 bn of debt, recording years of losses, and suffering from the fallout of a bribery case years earlier. It <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/11\/27\/this-morning-driverless-taxis-are-now-on-uber-in-abu-dhabi-enbd-ceo-breaks-down-plans-post-acquisition-of-rbl\/\" style=\"\">filed for administration<\/a> for its international operations to support its restructuring and M&A plans.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a>  <strong>INFRASTRUCTURE \u2014 Final puzzle piece in place for <\/strong><strong>t<\/strong><strong>he Sphere: <\/strong>Dubai-based construction firm Alec was awarded the construction of Sphere Abu Dhabi, which will open on Yas Island in 2029, in a contract valued at USD 1.7 bn, the firm said in a bourse <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/60.pdf\" style=\"\">disclosure (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>The highly anticipated venue <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/05\/15\/this-morning-ega-eyes-stake-in-omani-rival-masdar-secures-approval-for-uk-offshore-wind-project\/\" style=\"\">will be located<\/a> between Seaworld Abu Dhabi and Yas Mall, according to recent statements from Mohamed Khalifa Al Mubarak, chairman of Abu Dhabi\u2019s Culture and Tourism Department. It <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/10\/16\/this-morning-masdar-dp-world-eye-projects-in-philippines-ewec-seeks-bids-to-develop-al-sila-wind-farm\/\" style=\"\">will match<\/a> the 20k-seat capacity of the Las Vegas original, with DCT Abu Dhabi overseeing funding and construction. Sphere Entertainment will provide tech expertise, operational support, and creative content, earning annual fees once the arena opens.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a>  <strong>IHC + Alabbar eye struggling IFFCO: <\/strong>Abu Dhabi\u2019s International Holding Company and Dubai b\u2019naire Mohamed Alabbar are among those circling troubled UAE-based food producer IFFCO Group as the company struggles under roughly USD 2 bn in debt and mounting insolvency pressure, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-01\/billionaire-alabbar-and-top-uae-firm-said-to-eye-troubled-iffco\" style=\"\">Bloomberg<\/a> reports, citing people it says are familiar with the matter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where we\u2019re at: <\/strong>Currently, it\u2019s still in the early stages with no formal bids made. However, Alabbar said that he had sent letters to IFFCO\u2019s board and creditor banks expressing interest in acquiring the entire business. The assets could be valued at several bn USD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The possible target: <\/strong>IFFCO\u2019s brands span food production, packaging, chemicals, and logistics, and it has a presence across roughly 50 countries. It\u2019s an especially attractive target for Emirati investors, with several manufacturing facilities in the UAE making it a key element in the Emirates\u2019 food supply chain, which <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/03\/10\/could-hormuzs-closure-disrupt-the-uaes-food-supply\/\" style=\"\">could come under strain<\/a> due to the war. A takeover by Alabbar would see IFFCO added to his portfolio, which also includes Americana Restaurants.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Any serious move would likely depend on how court proceedings tied to IFFCO\u2019s future play out in the coming months. <\/strong>IFFCO\u2019s creditors include HSBC and Emirates NBD, with a creditor group recently filing for insolvency <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/05\/04\/this-morning-uae-qatar-kuwait-and-israel-buy-usd-8-6-bn-of-us-defense-systems-adnoc-lines-up-aed-200-bn-for-local-contract-awards\/\" style=\"\">in May<\/a> after restructuring talks failed <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/11\/20\/iffco-appoints-new-board-in-turnaround-sharjah-ruler-appoints-aisha-deemas-as-epaa-chair\/\" style=\"\">last autumn<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>A<\/strong><strong>I \u2014<\/strong> <strong>More<\/strong><strong> Emirati-French AI cooperation? <\/strong>Abu Dhabi AI investor MGX and French state-owned investment firm Bpifrance have plans to expand their AI data center campus \u2014 set to be Europe\u2019s largest \u2014 with a EUR 7.5 bn investment ticket, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/retail-consumer\/major-investment-pledges-choose-france-summit-2026-06-01\/\" style=\"\">Reuters<\/a> reports. The expansion would boost capacity to 3 GW, up from the 1.4 GW initially planned, as France looks to position itself as an AI hub, according to <a target=\"_blank\" href=\"https:\/\/sifted.eu\/articles\/softbank-choose-france-record-93bn\" style=\"\">Sifted<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Construction for the first phase is set to begin in 2H this year, with operations slated to begin in 2028 under a massive EUR 8.5 bn investment framework. The UAE had previously signaled plans to invest <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/02\/10\/this-morning-mgx-to-invest-in-french-ai-anthropic\/\" style=\"\">USD 30-50 bn<\/a> in French AI and data infrastructure, and MGX itself has ambitions to deploy <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/02\/18\/mgxs-usd-100-bn-ai-ambitions-make-waves-in-intl-business-press\/\" style=\"\">as much as USD 10 bn<\/a> annually in AI investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SPORTS \u2014 G<\/strong><strong>ulf United brings on Iniesta as head coach:<\/strong> Former Barcelona midfielder Andres Iniesta has joined Gulf United FC as head coach, according to a <a target=\"_blank\" href=\"https:\/\/www.gulfunitedfc.com\/news\/andres-iniesta-joins-gulf-united-fc\" style=\"\">press release<\/a>. Iniesta \u2014 who last played with Emirates Club FC before retiring in 2024 \u2014 has secured his A Licence and is in the process of getting a Pro Coaching Licence.<\/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\">PSA<\/p>\n<p><a target=\"_blank\" id=\"id.1d7oelw6u6ep\"><\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Government <\/strong><strong>employees in Ajman will have more flexible leave and<\/strong><strong> working hours as of 1 September <\/strong>under a <a target=\"_blank\" href=\"https:\/\/x.com\/AjmanMedia\/status\/2061354127553376475?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2061354127553376475%7Ctwgr%5Ebaf5bc2f30957b5bce3f72a82107419810c3f3c4%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.arnnewscentre.ae%2Fen%2Fnews%2Fuae%2Fajman-reduces-working-hours-for-some-government-staff-adds-more-holidays%2F\" style=\"\">new human resources law<\/a> issued by Ajman\u2019s ruler Sheikh Humaid bin Rashid Al Nuaimi. The law introduces reduced working hours for select groups \u2014 including employees with disabilities, pregnant employees experiencing fatigue, and family caretakers with five or more children under 18 \u2014 as well as additional annual leave for newlyweds, family caretakers, people with disabilities, and entrepreneurs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The law also introduces new employment perks<\/strong>, including promotions of up to three job grades for exceptional talent and high-performing employees, alongside a new Good Service Award bonus for Emirati staff.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> The big story abroad<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AI news is leading the conversation in the business pages this morning: <\/strong>Anthropic has <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-01\/anthropic-files-confidentially-for-ipo-as-claude-demand-surges?srnd=homepage-middle-east\" style=\"\">confidentially submitted<\/a> paperwork for its IPO which could happen as early as this fall, potentially putting the startup ahead of OpenAI and its listing schedule. The Claude maker did not disclose the number or price of shares to be offered.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another tech player is looking to raise funds for AI investment: <\/strong>Alphabet <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/113.pdf\" style=\"\">will sell<\/a> USD 80 bn worth of stock to fund investments in computing infrastructure to meet customer demand for AI products. The company intends to source the funds via underwritten offerings, a USD 10 bn investment from Berkshire Hathaway, and selling Class A and Class C shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new strategy for the golden arches? <\/strong>McDonald\u2019s <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2026\/06\/01\/mcdonalds-mcd-unveils-growth-strategy.html\" style=\"\">has launched<\/a> its new growth strategy to attract diners, which will include higher-quality food, restaurant upgrades, consumer-led innovation, and improved customer service. The strategy comes at a time where consumers are demanding more value for their money and competitors upgrade their offerings, CEO Chris Kempczinski <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-01\/mcdonald-s-is-testing-wings-bigger-chicken-tenders-and-ai-drive-thrus\" style=\"\">said<\/a>.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">***<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You\u2019re reading EnterpriseAM UAE<\/strong>, your essential daily roundup of business, economics, and must-read news about the UAE, delivered straight to your inbox. We\u2019re out Monday through Friday by 7am UAE time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM UAE is available without charge <\/strong>thanks to the generous support of our friends at Mashreq and Hassan Allam Properties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/user\/news-letters\" style=\"\">Tap or click here<\/a> to get your own copy of EnterpriseAM UAE. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea, request coverage, ask for a correction, or otherwise get in touch? <\/strong>Reach out to us on  <a target=\"_blank\" href=\"mailto:UAE@enterpriseAM.com\" style=\"\">UAE@enterpriseAM.com<\/a> .<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\">Egypt<\/a><\/strong><strong>, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\">Saudi Arabia<\/a><\/strong>, and the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\">logistics<\/a> industry?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">**<\/p>\n<p class=\"tag-border-left\"> Circle your calendar<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;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     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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"117775\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2026\/06\/02\/abu-dhabi-government-takes-control-of-t10-cricket-competition-plans-to-take-it-global\/95-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/95.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"95.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/95.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/95.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-117774\" class=\"content-area-description single-story post-117774 post type-post status-publish format-standard has-post-thumbnail hentry category-the-big-story-today tag-abu-dhabi tag-enterpriseam-uae tag-ma-watch tag-sports tag-the-big-story-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;orphans:2;widows:2;text-align:left\"><strong> Abu Dhabi has moved to put one of cricket\u2019s fastest-growing formats firmly un<\/strong><strong>der state control \u2014 and the ambition stretches well beyond the UAE. <\/strong>Abu Dhabi Cricket & Sports Hub, the emirate\u2019s government-backed sports body, assumed majority ownership and full commercial control of the Abu Dhabi T10 league, transforming a competition that began as a private venture into a nationally managed sporting asset, according to a <a target=\"_blank\" href=\"https:\/\/abudhabit10.com\/release\" style=\"\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Abu Dhabi Sports Council and the Emirates Cricket Board are backing the new structure<\/strong> \u2014 a clean sweep of institutional firepower behind what was, until recently, a privately held tournament launched in 2017 by entrepreneur Shaji Ul Mulk.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The move is being framed publicly around governance and financial transparency, and the language is deliberate.<\/strong> The league has faced questions over financial reliability in previous seasons. Matt Boucher, the competition's CEO, has been explicit that restoring franchise confidence is central to the restructuring, citing \u201clong-term stability for teams\u201d as one of the competition\u2019s key priorities in an interview with <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/cricket\/abu-dhabi-t10-eyes-new-franchises-after-governance-overhaul-says-ceo-2026-05-29\/\" style=\"\">Reuters<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s also now planning to go global<\/strong>, with the government aiming to reposition T10 as a global franchise product. Eight team slots will go to market through a formal invitation to tender process, with international ownership groups actively being courted, Boucher told the newswire.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s already an economic case: <\/strong>The 2025 edition generated USD 512 mn in media value, according to independent measurement firm GSIQ. For a ten-over format that completes a match in roughly 90 minutes, that number represents a compelling pitch to sponsors and broadcasters chasing younger, attention-scarce audiences.<\/p>\n<p class=\"tag-border-left\">Why cricket? <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cricket is big in the UAE. <\/strong>Indians and Pakistanis together account for roughly 50% of the UAE's total population. That gives the UAE a built-in audience for the T10 and a captive fanbase that most emerging sports leagues would spend years trying to manufacture, making the Emirates one of the few markets outside South Asia where cricket commands mass-market commercial weight.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cSouth Asian diaspora communities across the world are driving demand for cricket in various formats<\/strong>,\u201d Simon Chadwick, a professor of sports specializing in the MENA region, East\/South Asia, sub-Saharan Africa, and Europe, tells EnterpriseAM. The proof of concept arrived in 2024 when the T20 World Cup was held in the US \u2014 driven in large part by the influence of Indian expats in the tech industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cricket's inclusion as an Olympic sport from the 2028 Los Angeles Games adds another layer to the investment case.<\/strong> Chadwick argues it could be transformative: \u201cCountries like the United States and China are really committed to [securing] gold medals in every sport that is part of the Olympic Games.\u201d A sport that today draws a relatively defined global audience could, within a few years, be chased by two of the world's largest economies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThis is potentially a play by Abu Dhabi to invest in a sport that has a growing global presence<\/strong>, and that can be delivered in really accessible formats digitally and through social media,\u201d he explains, referring to T10\u2019s shorter format when compared to classic cricket structures like test matches.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Then there is the scale of the addressable market. <\/strong>India is now the world's most populous nation and, by most forecasts, on course to be among its two largest economies by 2050 alongside China. \u201cThere are 1.6 bn people just around the corner who are cricket obsessed,\u201d Chadwick notes \u2014 a readily available market that no other sport format is better positioned to reach from the Gulf.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE also benefits from a structural role it has quietly built over the past decade: serving as a neutral venue for India-Pakistan cricket<\/strong>, two nations whose political tensions have made bilateral series on home soil increasingly difficult to stage. \u201cIt is almost as though Dubai and the UAE have become a default home for Pakistani and Indian cricket to take place,\u201d Chadwick said. That, combined with the International Cricket Council\u2019s relocation of its headquarters from London to Dubai, gives the UAE institutional weight when it comes to the sport.<\/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 takeover also fits neatly into an already well-established Abu Dhabi playbook<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi has methodically built out its sports infrastructure \u2014 from Formula 1 to UFC to golf \u2014 and leveraged sports for tourism revenue<\/strong> as part of its economic diversification strategy. Bringing the T10 in-house formally folds cricket into that ecosystem, with the institutional weight (and the benefit of having a strong local network and solid demand on-ground) to pursue international broadcast contracts, attract marquee franchise owners and potentially expand the format beyond UAE borders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Chadwick points to a more specific competitive logic at work.<\/strong> Gulf states, he argues, are deliberately targeting sports that are \u201ccommercially immature assets with a global footprint\u201d \u2014 where the barriers to entry are lower and the upside is greater than in mature markets like European football.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi also has a structural advantage its rivals lack:<\/strong> an established franchise model it has already made work at a global scale. The City Football Group \u2014 majority owned by Abu Dhabi's Sheikh Mansour \u2014 operates a network of football clubs across multiple continents under a single commercial umbrella. \u201cYou could imagine replicating that model and having cricket franchises across the world,\u201d Chadwick says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi\u2019s playbook has also historically seen it arrange global coalitions for its sports investments.<\/strong> \u201cWhat we're not seeing is Gulf states on their own making major investments in risky sports properties,\u201d he explains. \u201cWhat they're doing is creating global coalitions of investors from elsewhere in the world,\u201d he adds, pointing to how Abu Dhabi's ownership of Manchester City sits alongside investment from Silver Lake, the Silicon Valley private equity firm, and China Media Capital. The same co-investment model is likely to shape how T10 franchise agreements are structured.<\/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 credibility question<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite T10\u2019s appeal to digitally oriented audiences, T10 and T20 are still not prominent formats in the minds of many cricket fans. <\/strong>And state backing does not automatically resolve the T10's credibility gap, Chadwick says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One issue is what Chadwick calls \u201cformat fatigue.\u201d<\/strong> \u201cThere is so much cricket that people simply don't have the time to watch it,\u201d he said. \u201cInstead of having a huge market for cricket, what you\u2019re actually getting is a series of niches that perhaps don\u2019t deliver the commercial returns that many people anticipated.\u201d For a format still working to be taken seriously alongside Test cricket and the IPL, that fragmentation of the global audience is a live risk.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There is also a basic accessibility challenge.<\/strong> Unlike football, where participation requires only a ball, cricket demands equipment and infrastructure \u2014 a barrier that limits grassroots growth in emerging markets. \u201cFor many people globally, this is a new sport,\u201d Chadwick says, \u201cand the rules are a little difficult to understand.\u201d<\/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\">What to watch<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Attracting international franchisers is less about having state vs. private ownership<\/strong> and more about whether the new structure can demonstrate trustworthiness and legitimacy over time, Chadwick notes. \u201cBoth systems of governance \u2014 whether state or private funding \u2014 have advantages and disadvantages,\u201d he says. What matters more is consistency, coherence, and stability: \u201cIt's those two things \u2014 trustworthiness and legitimacy \u2014 that are ultimately going to give people and organizations the confidence in the series you\u2019re running.\u201d That, he argues, is what will determine whether global sponsors and franchise investors commit \u2014 not who holds the majority stake.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we\u2019re tracking: <\/strong>Other than how negotiations for international franchise agreements will unfold and which Abu Dhabi state entities will take part \u2014 with Chadwick raising the question of City Football Group\u2019s potential involvement \u2014 we\u2019ll be keeping an eye on the 2026 edition of T10. Running from November 7 to 20 at Zayed Cricket Stadium, this will be the first full season under the new regime, and it is being treated internally as a launchpad rather than a continuation of the status quo for the T10 competition.<\/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\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sports\/\">Sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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=\"117776 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=\"117776\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/06\/02\/117776\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-117776\" class=\"content-area-description single-story post-117776 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\"><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=\"117777\" 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=\"117777\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/06\/02\/e-sells-careem-stake-to-uber-and-opens-up-a-path-for-uber-to-fully-own-careem-again\/\">\r\n                            Uber could reclaim full ownership of Careem under a new agreement with e&amp;                        <\/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\/06\/02\/e-sells-careem-stake-to-uber-and-opens-up-a-path-for-uber-to-fully-own-careem-again\/\" 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\/06\/02\/e-sells-careem-stake-to-uber-and-opens-up-a-path-for-uber-to-fully-own-careem-again\/')\">\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\/06\/02\/e-sells-careem-stake-to-uber-and-opens-up-a-path-for-uber-to-fully-own-careem-again\/\">\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=e&#038; sells Careem stake to Uber and opens up a path for Uber to fully own Careem again&url=https:\/\/enterpriseam.com\/uae\/2026\/06\/02\/e-sells-careem-stake-to-uber-and-opens-up-a-path-for-uber-to-fully-own-careem-again\/\">\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\/06\/02\/e-sells-careem-stake-to-uber-and-opens-up-a-path-for-uber-to-fully-own-careem-again\/&title=e&#038; sells Careem stake to Uber and opens up a path for Uber to fully own Careem again\">\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=e%26%23038%3B+sells+Careem+stake+to+Uber+and+opens+up+a+path+for+Uber+to+fully+own+Careem+again+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2026%2F06%2F02%2Fe-sells-careem-stake-to-uber-and-opens-up-a-path-for-uber-to-fully-own-careem-again%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\/06\/02\/e-sells-careem-stake-to-uber-and-opens-up-a-path-for-uber-to-fully-own-careem-again\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1168.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"117778\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2026\/06\/02\/e-sells-careem-stake-to-uber-and-opens-up-a-path-for-uber-to-fully-own-careem-again\/1168-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1168.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1168.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1168.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1168.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-117777\" class=\"content-area-description single-story post-117777 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-e tag-enterpriseam-uae tag-investment-watch tag-ma tag-ma-watch tag-uber 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\"> <strong>Uber <\/strong><strong>could end up owning all of Careem again. <\/strong>Telco e& inked an agreement to sell a 12.5% stake in Careem Technologies \u2014 Careem\u2019s super-app unit \u2014 for USD 100 mn to Uber, in a transaction that comes with future buy-sell options attached, opening the door for Uber to eventually become the sole owner of the entirety of Careem\u2019s operations, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/56.pdf\" style=\"\">press release (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>Careem\u2019s ride-hailing business has remained fully owned by Uber since its USD 3.1 bn acquisition in 2019. <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/04\/10\/uber-owned-careem-launches-spinout-with-400-million-investment-from-uaes-e.html\" style=\"\">In 2023<\/a>, the company spun out its broader super-app operations into Careem Technologies and sold a 50.03% stake to e& for USD 400 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How it would work: <\/strong>The transaction cuts e&\u2019s stake in Careem Technologies to 37.53%, down from 50.03%. Under the agreement, e& holds a put option allowing it to require Uber to buy its remaining stake, while Uber has a matching call option that would let it force a sale. Both options become exercisable between December 2031 and January 2032. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is a neat exit ramp for e& \u2014 and a strategic option to<\/strong><strong> give Uber full control of its once-Middle East-rival.<\/strong> Reuniting the super app with the ride-hailing business it already owns would give it a fully integrated platform across one of its most important emerging-market corridors \u2014 and remove the operational complexity of running the two sides of Careem under split ownership.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The move also comes as Uber looks to take over another industry ri<\/strong><strong>val<\/strong>, Germany\u2019s Delivery Hero, after tabling a USD 38.29-per <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/uber-raises-stake-delivery-hero-2499-filing-shows-2026-05-27\/\" style=\"\">share proposal<\/a> last month. It\u2019s also been raising its stake in the firm, acquiring an additional stake that gave it a 37% position ahead of the takeover bid. <\/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\/e\/\">e&amp;<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uber\/\">Uber<\/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=\"117779 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=\"117779\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/06\/02\/117779\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article 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class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/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\/06\/02\/adia-backs-insurtech-sapiens-positron-ai-comes-to-difc-dp-world-invests-more-in-dominican-republic-freezone-adnoc-secures-gas-supply-from-azerbaijan\/\">\r\n                            Adia backs insurtech Sapiens, Positron AI comes to DIFC, DP World invests more in Dominican Republic freezone, Adnoc secures gas supply from Azerbaijan                        <\/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 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href=\"https:\/\/enterpriseam.com\/uae\/2026\/06\/02\/adia-backs-insurtech-sapiens-positron-ai-comes-to-difc-dp-world-invests-more-in-dominican-republic-freezone-adnoc-secures-gas-supply-from-azerbaijan\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/889.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"117781\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2026\/06\/02\/adia-backs-insurtech-sapiens-positron-ai-comes-to-difc-dp-world-invests-more-in-dominican-republic-freezone-adnoc-secures-gas-supply-from-azerbaijan\/889-jpg-37\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/889.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"889.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/889.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/889.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-117780\" class=\"content-area-description single-story post-117780 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-abu-dhabi-investment-authority tag-adnoc tag-also-on-our-radar tag-artificial-intelligence tag-dp-world tag-enterpriseam-uae tag-infrastructure tag-logistics tag-oil-and-gas wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"tag-border-left\">Adia backs insurtech Sapiens <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A<\/strong><strong>n Abu Dhabi Investment Authority (<\/strong><strong>Adia<\/strong><strong>) subsidiary has taken a<\/strong><strong> significant <\/strong><strong>minority stake in ins. software company Sapiens<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.prnewswire.co.uk\/news-releases\/sapiens-welcomes-adia-as-an-investor-302786848.html\" style=\"\">press release<\/a>. Sapiens remains owned by private equity firm Advent, which backed the transaction alongside Adia. The firm, which was founded in Israel and develops computer software for ins. firms, will move its headquarters to central London. <\/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\">Dubai is pulling in another AI infrastructure player<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US<\/strong><strong>-based Positron AI opened its first office outside its home market at the DIFC<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.difc.com\/whats-on\/news\/positron-ai-establishes-first-presence-outside-the-us-in-difc\" style=\"\">press release<\/a>. The company, which has raised more than USD 300 mn including a USD 230 mn Series B round, builds hardware optimized for AI inference rather than model training. Pitching itself as an alternative to traditional GPU-heavy systems, Positron argues its infrastructure can deliver lower cost per token, with higher memory density and better energy efficiency.<\/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\">DP World to expand Dominican Republic freezone<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DP<\/strong><strong> World puts more weight behind Caucedo:<\/strong> Dubai-based ports operator DP World and the Dominican Republic government will <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/c0i8kvl-world-expand-logistics-capacity-dominican-republic\" style=\"\">invest<\/a> an additional USD 100 mn to expand warehousing and logistics infrastructure at the DP World Freetrade zone in Caucedo. The new funding will help tighten the link between port operations, freezone activity, and logistics services at Caucedo, which is in a prime position for companies looking for manufacturing and distribution bases closer to the US while still serving Latin America and the Caribbean.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The base is already there:<\/strong> DP World already <a target=\"_blank\" href=\"https:\/\/www.dpworld.com\/en\/about-us\/our-locations\/dominican-republic?utm_source=chatgpt.com\" style=\"\">committed<\/a> some USD 760 mn to its Dominican Republic operations, where its capacity stands at 2.5 mn TEUs. The new expansion plan is expected to raise container handling capacity to around 3.1 mn TEUs, attract USD 3.9 bn in FDI, and drive USD 4 bn in manufacturing output.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our take:<\/strong> The Dominican Republic push fits DP World\u2019s wider move from port operator to integrated trade-platform builder. In Latin America, the group already operates across Brazil, Peru, Ecuador, and Chile, while its Unifeeder arm has been adding regional feeder coverage across Latin America. <\/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\">Adnoc secures gas supply from Azerbaijan<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A<\/strong><strong>dnoc inked a sales purchase agreement for gas from one of Azerbaijan\u2019s <\/strong><strong>largest gas condensate fields<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/socar-totalenergies-adnoc-botas-sign-absheron-phase-two-gas-sales-agreement-2026-06-01\/\" style=\"\">Reuters<\/a> reports. The agreement will see the oil and gas giant secure natural gas from the Absheron gas field, which is set to start production in 2029 and work up to over 4 bcm in annual production. Azerbaijan\u2019s state oil firm Socar, TotalEnergies, and Turkey\u2019s state-owned Botas also inked agreements.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Adnoc already holds a 30% stake in Absheron, for which a final investment decision is expected <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/03\/17\/adnocs-azerbaijan-plays-raise-production-aramex-expands-in-dubai-south-amanat-increases-stake-to-takeover-saudis-sukoon\/\" style=\"\">in July<\/a>. The state-owned energy giant has been expanding its footprint in the region recently, inking an agreement <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/02\/03\/xrg-inks-a-sales-and-purchase-agreement-with-azerbaijans-sgc\/\" style=\"\">for an equity stake<\/a> in Azerbaijan\u2019s Southern Gas Corridor, and <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/05\/15\/xrg-snaps-up-stake-in-turkmenistan-gas-block\/\" style=\"\">taking a 38% stake<\/a> in a Turkmenistan gas block. <\/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-investment-authority\/\">Abu Dhabi Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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\/\">artificial intelligence<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dp-world\/\">DP World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"117782\" 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=\"117782\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/06\/02\/mega-ipos-may-be-rewriting-the-rulebook-for-indices-and-retail-investors\/\">\r\n                            Mega-IPOs may be rewriting the rulebook                        <\/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\/06\/02\/mega-ipos-may-be-rewriting-the-rulebook-for-indices-and-retail-investors\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The move is a deliberate strategy by founder and CEO Elon Musk, who is banking on his personal following to drive demand. Some individual investors are reportedly planning to put in as much as USD 20k, describing SpaceX as a \u201cvisionary\u201d company worth backing from day one.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That kind of retail-first allocation is unusual at this scale<\/strong>, and if SpaceX\u2019s listing proves successful, it could set a template for how other mega-IPOs approach the retail-institutional split going forward.<\/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\">Index providers are rewriting the rules to compete<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The prospect of listings this large has also put major index providers under pressure.<\/strong> The S&P 500 is seeking feedback on a proposal to fast-track the inclusion of mega-IPOs into its flagship indices, while the Nasdaq 100 and FTSE Russell are similarly shortening their usual waiting periods. The concern driving this is straightforward: if a company the size of SpaceX sits outside a major benchmark, the benchmark begins to look incomplete \u2014 and potentially less useful to the investors who rely on it.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the rule changes needed to attract these firms are drawing scrutiny.<\/strong> NYSE President Lynn Martin says that \u201csome of the rules that have been changed to woo some of the large companies [...] are questionable.\u201d A note from Seyffart and Du Boff picked up by Bloomberg says opponents to those changes are pointing to the waiving of minimum float requirements and voting rights protections as particular areas of concern for market integrity. Nasdaq President Nelson Griggs, however, has pushed back, insisting that no rules were broken in securing the SpaceX listing.<\/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\"> What this means for retail investors<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The combination of SpaceX\u2019s large retail allocation and the indices\u2019 push for faster inclusion creates a situation where retail investors will gain exposure to these companies quickly<\/strong> \u2014 whether they choose to or not. Once included in major indices, firms like SpaceX will automatically feature in the mutual funds and ETFs held by mns of ordinary investors, Bloomberg explains.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The question is whether that exposure will pay off.<\/strong> IPO expert and economist Jay Ritter cautions that it is \u201cdifficult for an investor to come out ahead in a three-year period,\u201d given the sky-high valuations these AI-era firms are commanding at listing. SpaceX\u2019s own valuation rests heavily on projections of significant future revenue growth \u2014 context worth noting given the company posted a USD 4.9 bn loss last year.<\/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 bigger picture<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For institutional investors, the key question is whether a successful SpaceX IPO triggers a broader wave<\/strong> \u2014 normalizing large-scale, smooth transitions from private to public markets for firms that have spent years growing outside public view. For index providers, the stakes are existential in a different way: the rule changes they are making now will define what kind of companies they can attract and what kind of market integrity standards they are willing to bend to get them.<\/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\">MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asia-Pacific markets are down in early trading this morning<\/strong> as continued geopolitical tension and the uncertainty surrounding an already shaky ceasefire between the US and Iran drag stocks down. South Korea\u2019s is down 3% and Japan\u2019s Nikkei is down 1.8%.<\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,651<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: -3.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,775<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: -4.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Nasdaq Dubai UAE20<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,486<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.5% (YTD: -8.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.5% o\/n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4.0% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,010<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +5.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">52,854<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +26.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&P 500 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,600<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +11.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,339<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +4.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6,035<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +4.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 95.15<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.19<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 4,513<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 71,190<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-3.7% (YTD: -18.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Chimera JP Morgan UAE Bond UCITS ETF<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">AED 3.68<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: -1.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&P MENA Bond & Sukuk<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">151.63<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: -0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>VIX (Volatility Index)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">16.05<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+4.8% (YTD: +7.4%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The DFM rose 0.3% yesterday<\/strong> on turnover of AED 1.4 bn. The index is down 4.5% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Talabat Holding (+10.9%), United Foods Company (+5.2%), and Taaleem Holdings (+4.4%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Emaar Development (-5.0%), Unikai Foods (-5.0%), and Chimera S&P UAE UCITS ETF - Share Class A - Accumulating (-4.8%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the ADX<\/strong>, the index fell 0.5% on turnover of AED 1.8 bn. Meanwhile, Nasdaq Dubai was down 1.5%.<\/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\/artificial-intelligence\/\">artificial intelligence<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ipo\/\">IPO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> 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class=\"content-area-description single-story post-117784 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;\">JUNE <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1-12 June (Monday-Friday): Subscription period for Emirates NBD\u2019s mandatory open offer for 26% of India\u2019s RBL Bank. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-4 June (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/arqaammenaconference.com\/\" style=\"\">MENA Investor Conference<\/a><\/span><span style=\"font-weight:400;\">, Ritz-Carlton DIFC, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-4 June (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/menadesal.com\/\" style=\"\">MENA Desalination Forum<\/a><\/span><span style=\"font-weight:400;\">, Conrad Abu Dhabi Etihad Towers, Abu Dhabi. <\/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>17 June (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/investopia.ae\/events\/investopia-global-tashkent\/#:~:text=Investopia%20Global%20%E2%80%93%20Tashkent%20will%20bring,%2C%20partnership%2C%20and%20economic%20advancement.\" style=\"\">Investopia Global Talks<\/a><\/span><span style=\"font-weight:400;\">, Tashkent, Uzbekistan.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>22-24 June (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>, 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;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-3 September (Tuesday-Thursday: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.middleeast-energy.com\/en\/home.html\" style=\"\">Middle East Energy<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Center, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7-9 September (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>7-9 September (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.dwtc.com\/en\/events\/international-property-show-2026\/\" style=\"\">International Property Show<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Center, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-13 September (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>14-17 September (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wtm.com\/atm\/en-gb.html\" style=\"\">Arabian Travel Market<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Center, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29-30 September (Tuesday-Wednesday): AFCM Annual Conference, 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;\">OCTOBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-10 October (Sunday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/space.gov.ae\/en\/media-center\/events\/world-space-week\" style=\"\">World Space Week<\/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>5-7 October (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, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-14 October (Monday-Wednesday: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.theairportshow.com\/en-gb.html\" style=\"\">Airport Show<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Center, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20-22 October (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>27-28 October (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/indico.un.org\/event\/1021967\/\" style=\"\">Arab Competition Forum<\/a><\/span><span style=\"font-weight:400;\">, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 October (Friday):<\/span> <span>Large businesses achieving annual revenues equal to or above AED 50<\/span> <span>mn<\/span> <span>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;\">NOVEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-6 November (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>, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4 November (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/digitransformationsummit.com\/uae\/\" style=\"\">Digital Transformation Summit<\/a><\/span><span style=\"font-weight:400;\">, Sofitel, Abu Dhabi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9-10 November (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wam.ae\/en\/article\/bmkxm3q-mohammad-gergawi-announces-dates-next-uae\" style=\"\">Annual government meetings<\/a><\/span><span>, Abu Dhabi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-12 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/mediaoffice.ae\/en\/news\/2026\/february\/24-02\/rta-organises-the-inaugural-edition-of-dubai-international\" style=\"\">Dubai International Electric Vehicle Exhibition & Conference<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Center. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">16-18 November (Monday-Wednesday): World Police Summit, Dubai World Trade Center, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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>4-6 December (Friday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.formula1.com\/en\/racing\/2026\/united-arab-emirates\" style=\"\">Formula 1 Abu Dhabi Grand Prix<\/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=\"\">8-9 December (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=\"\">, Madinat Jumeirah, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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>1-3 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wam.ae\/en\/article\/bymylfm-world-governments-summit-2027-set-from-february\" style=\"\">World Governments Summit<\/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>21-22 April (Wednesday-Thursday): <\/span><span style=\"\">Token2049, Dubai;<\/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 2028:<\/span><\/p>\n<ul>\n<li><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wam.ae\/en\/article\/1732iqa-uae-strengthens-its-global-leadership-host-2028\" style=\"\">Artificial Intelligence Summit<\/a><\/span><span style=\"font-weight:400;\">. <\/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 style=\"font-weight:400;\">Annual Meetings of the World Bank Group and the International Monetary Fund, Abu Dhabi;<\/span><\/li>\n<li><span style=\"font-weight:400;\">The commissioning of the seventh phase of Mohammed bin Rashid Al Maktoum Solar Park.<\/span><\/li>\n<\/ul>\n\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: DP World is investing more in Dominican Republic freezone + Adnoc secures gas supply from Azerbaijan<\/p>\n","protected":false},"featured_media":117770,"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-117769","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"3c3cf28a-a2a1-4a65-8297-ac3793008dac","teaser":"Plus: DP World is investing more in Dominican Republic freezone + Adnoc secures gas supply from Azerbaijan","photo_url":"https:\/\/ent.news\/2026\/6\/116.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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