{"id":87513,"date":"2024-01-03T00:00:00","date_gmt":"2024-01-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=87513"},"modified":"2025-12-14T23:03:19","modified_gmt":"2025-12-14T23:03:19","slug":"adani-and-ihc-set-up-two-jvs-for-india-business","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/adani-and-ihc-set-up-two-jvs-for-india-business\/","title":{"rendered":"Adani and IHC set up two JVs for India business"},"content":{"rendered":"<section id=\"87515\" 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=\"87515\">\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\/2024\/01\/03\/adani-and-ihc-are-setting-up-jvs-to-capture-business-in-india-fuel-is-going-to-cost-you-less-this-month\/\">\r\n                            Adani and IHC are setting up JVs to capture business in India + Fuel is going to cost you less this month                        <\/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\/2024\/01\/03\/adani-and-ihc-are-setting-up-jvs-to-capture-business-in-india-fuel-is-going-to-cost-you-less-this-month\/\" 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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From M&A in both logistics and telecoms, hints of a new IPO, and fresh regulations for the BNPL space, there\u2019s something for everyone on this fine winter morning. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But first:<\/strong><\/p>\n<p class=\"tag-border-left\">PUBLIC SERVICE ANNOUNCEMENTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>? #1- Foggy day ahead: <\/strong>Some areas in the country may see fog or mist forming, with the possibility of light rainfall in northern emirates, according to the <a target=\"_blank\" href=\"https:\/\/twitter.com\/ncmuae\/status\/1741914886924386550\" style=\"\" rel=\"noopener\">National Center of Meteorology<\/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>#2-<\/strong><strong>You\u2019re going to be paying less at the pump this month:<\/strong> The Emirates General Petroleum Corporation has slashed retail fuel prices for the third consecutive time for January, it said in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/EmaratOfficial\/status\/1741367486530904150\" style=\"\" rel=\"noopener\">post<\/a> on X. <strong>The rundown: <\/strong><\/p>\n<ul>\n<li><strong>Super 98<\/strong> is now <strong>AED 2.82<\/strong> per liter, down 5%; <\/li>\n<li><strong>Special 95<\/strong> is now <strong>AED 2.71<\/strong> per liter, also down 5%;<\/li>\n<li><strong>E-Plus 91<\/strong> is <strong>AED 2.64<\/strong> per liter, down 5%; <\/li>\n<li>and <strong>diesel <\/strong>is adjusted to <strong>AED 3<\/strong> per liter, down 6%. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Fuel prices in the UAE mirror global oil markets. <\/strong>We liberalized fuel prices in 2015, and are now tracking monthly market movements when determining fuel prices for the month. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>PSA #3- Companies with 20-49 employees now have to comply with Emiratisation rules:<\/strong>The Human Resources and Emiratisation Ministry has started implementing the 2024 Emiratization rules for over 12k companies with 20-49 employees, the ministry said in a <a target=\"_blank\" href=\"https:\/\/www.mohre.gov.ae\/en\/media-centre\/news\/2\/1\/2024\/mohre-begins-implementing-emiratisation-targets-on-over-12000-private-companies-with-20-49-employees.aspx\" style=\"\" rel=\"noopener\">statement<\/a>. As of yesterday, businesses with over 50 employees must have UAE nationals make up 4% of their staff. Companies will be hit with an AED 96k (c. USD 26.14k) fine for each Emirati citizen they fall short of in their staffing starting from 1 January this year, with the fine rising to AED 108k in 2025. Payments will be collected at the end of the year, and can be paid in installments, according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI - The government upped national Emiratisation targets by introducing the <\/strong><strong>requirements for companies with 20-49 employees <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/uae\/government\/2023\/07\/11\/private-companies-with-20-to-49-employees-now-included-in-emiratisation-drive\/\" style=\"\" rel=\"noopener\">back in July<\/a><\/strong><strong>. <\/strong>The targets <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=08368d7895&e=8e5fca127e%5C\" style=\"\" rel=\"noopener\">aim<\/a> to increase the number of Emiratis working in the private sector to 6% by the end of 2024 and to 10% by the end of 2026.<\/p>\n<p class=\"tag-border-left\">FOR THE RECORD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>We\u2019re officially a Brics member: <\/strong>The alliance of emerging markets known as the Brics formally welcomed the UAE, Egypt, Saudi Arabia, Iran, and Ethiopia to the bloc on 1 January. The five nations are now full members after the group invited them to join during its annual conference in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/news\/story\/625a6a24-800b-46c9-b6ea-6a1158ee3640\" style=\"\" rel=\"noopener\">August<\/a> last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>If you spent your NYE at Ras Al Khaimah, you witnessed <\/strong><strong>two Guinness <\/strong><strong>World Records <\/strong><strong>being set: <\/strong>Ras Al Khaimah\u2019s eight-minute NYE firework display secured record titles for the world's longest chain of floating fireworks (5.8 km) and the longest straight-line drone display (2 km). It featured over 1k straight-line flying drones and a blanket of aquatic fireworks across 4.5 km of water from Al Marjan Island to Al Hamra Village, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/ras-al-khaimah-sets-two-guinness-world-records-titles-with-an-incredible-new-years-eve-drone-and-fireworks-display-lzma4sps\" style=\"\" rel=\"noopener\">press release<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** You\u2019re reading Zero Issue #22 of EnterpriseAM UAE. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Think of a zero issue as a \u201cbeta.\u201d<\/strong> This issue has not been published or distributed to a wide audience. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Did you receive this as a forward?<\/strong> Email editorial@enterprisemea.com and let us know if you\u2019d like to be added to our list of beta readers ahead of our launch.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Have a comment, criticism, or story tip? <\/strong>Hit up <a target=\"_blank\" href=\"mailto:patrick@enterprisemea.com\" style=\"\" rel=\"noopener\">patrick@enterprisemea.com<\/a>. <\/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\">DATA POINTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#1- Brokerages opened more than 57k new investor accounts in the Dubai Financial <\/strong><strong>Market (DFM) in <\/strong><strong>2023<\/strong>, marking a 12.5% y-o-y increase, according to <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/b0xl76x-over-57000-new-investors-flocked-dubai-financial\" style=\"\" rel=\"noopener\">Wam<\/a>. December saw the highest number of new accounts open, with more than 6k investor accounts created \u2014 up 184% y-o-y from last December \u2014 likely on the back of the Dubai Taxi IPO. The total number of transactions on the market crossed 3.83 mn, a 32.7% y-o-y increase from 2022\u2019s 2.88 mn sales.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#2- Abu Dhabi's non-oil economic growth rose to 7.7% y-o-y in 3Q 2023<\/strong>, according to preliminary data from Abu Dhabi\u2019s statistics center SCAD, cited in an Abu Dhabi Media Office <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/government-affairs\/abu-dhabis-non-oil-economy-expands-7-in-q3-and-8-in-first-9-months-of-2023\/\" style=\"\" rel=\"noopener\">statement<\/a>. Abu Dhabi\u2019s real GDP grew at a 1% clip during the quarter, rising to AED 290.5 bn. Non-oil activities \u2014 which the emirate is pushing to contribute a larger percentage of the economy as it shifts away from oil reliance \u2014 accounted for 52.8% of the emirate\u2019s economy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The biggest contributors:<\/strong> Manufacturing contributed 17% to the non-oil GDP (AED 26.3 bn) during the quarter, while construction contributed 16.3% (AED 25 bn). Transport and storage and finance and ins. also saw double-digit y-o-y growth in terms of value.<\/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 STORIES ABROAD <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Suspected Israeli drone strike on senior Hamas leader in Beirut sparks fears the war in <\/strong><strong>Gaza could spread<\/strong><strong>: <\/strong>Six people including Hamas deputy leader Saleh Al-Arouri and two leaders of the group\u2019s armed wing were killed yesterday in an alleged Israeli drone strike in the southern suburbs of Lebanon\u2019s capital. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hezbollah responded to the attack with a warning on Telegram that the \u201cresistance has <\/strong><strong>its finger on the trigger\u201d<\/strong> and that the strike will not go without a response or punishment.\u201d An IDF spokesman <a target=\"_blank\" href=\"https:\/\/twitter.com\/IDF\/status\/1742264430681850094\" style=\"\" rel=\"noopener\">told<\/a> reporters after the attack that the \u201cIDF is in a very high state of readiness in all arenas.\u201d (<a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/01\/02\/world\/israel-supreme-court-gaza-news\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2024\/01\/02\/israel-hamas-war-gaza-news-updates\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e4236f17-7eb4-4f03-a9f3-8ab3e8efbb63\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/israel-fights-on-three-fronts-as-it-debates-how-to-end-gaza-war-1c74c512?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israels-aircraft-tanks-step-up-strikes-it-plans-reduce-troops-2024-01-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/world-middle-east-67866346\" style=\"\" rel=\"noopener\">BBC<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A Japan Airlines plane carrying hundreds of passengers burst into flames<\/strong> after colliding with a coast guard as it landed at Tokyo\u2019s Haneda airport. All passengers onboard the plane were safely evacuated, but five crew members of the coast guard plane were killed. (<a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/01\/02\/asia\/japan-airlines-plane-fire-airport-intl-hnk\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/asia\/japan-airlines-plane-in-flames-after-apparent-collision-at-tokyo-airport-eae1a3de?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/live\/world-asia-67862184\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/01\/02\/world\/asia\/tokyo-haneda-plane-fire.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/fire-breaks-out-plane-runway-japans-tokyo-haneda-airport-nhk-2024-01-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/live\/2024\/jan\/02\/japan-earthquake-search-people-trapped-rubble-death-toll-latest-updates\" style=\"\" rel=\"noopener\">Guardian<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG BUSINESS STORY this morning: BYD overtakes Tesla as world\u2019s top EV seller: <\/strong>Tesla lost its spot as the world\u2019s top-selling electric vehicle manufacturer to the Chinese automaker BYD in 4Q 2023 for the first time, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/716c9b0b-d8cd-491a-a91b-d70c1e540797\" style=\"\" rel=\"noopener\">Financial Times<\/a> reported. BYD sold 526k battery-only cars during the quarter compared to Tesla\u2019s 484k \u2014 both record sales for the companies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Madinat Jumeirah\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.jumeirah.com\/en\/offers\/category-offers\/campaigns\/festive\/dine\/festive-market\" style=\"\" rel=\"noopener\">Festive Market<\/a><\/strong><strong> is still on until 7 January.<\/strong> The market brings a Christmas experience to Madinat Jumeirah Fort Island, complete with a large Christmas tree, sound and light shows, a gingerbread house, and shopping, dining, and live entertainment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi Investment Office (ADIO) will host DRIFTx for the first time in April 2024.<\/strong> The international event will focus on advancing smart and autonomous mobility across air, land, and sea, according to a <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/economy\/hosted-by-abu-dhabi-investment-office-driftx-event-for-smart-and-autonomous-vehicles-to-take-place-in-abu-dhabi\/\" style=\"\" rel=\"noopener\">press release<\/a> from the Abu Dhabi Press Office. <\/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\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\/emirates-general-petroleum-corporation\/\">Emirates General Petroleum Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/human-resources-and-emiratisation-ministry\/\">Human Resources and Emiratisation Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING 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=\"87517\" 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=\"87517\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/adani-and-ihc-form-jvs-to-seek-business-in-india\/\">\r\n                            Adani and IHC form JVs to seek business in India                        <\/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        <!-- 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       <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/adani-and-ihc-form-jvs-to-seek-business-in-india\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/164.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87518\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/adani-and-ihc-form-jvs-to-seek-business-in-india\/164-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/164.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"164.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/164.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/164.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87517\" class=\"content-area-description single-story post-87517 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-adani tag-ai tag-enterpriseam-uae tag-ihc tag-india tag-investment-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.6fb411a5-50a5-4257-87b2-1520fdaf14be.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Two Adani subsidiaries have formed JVs with two IHC subsidiaries to help digitize the <\/strong><strong>Indian economy and expand smart metering. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Boosting digitization in India:<\/strong> Adani Enterprises subsidiary Adani Global and IHC subsidiary <a target=\"_blank\" href=\"https:\/\/www.siriusholding.com\/#1\" style=\"\" rel=\"noopener\">Sirius International Holding<\/a> \u2019s Abu Dhabi-based joint venture \u2014 Sirius Digitech International \u2014 will work to digitize India\u2019s economy through AI, blockchain and the internet of things, according to a <a target=\"_blank\" href=\"https:\/\/www.adanienterprises.com\/newsroom\/media-releases\/ihcs-subsidiary-sirius-and-adani-forge-an-alliance-to-digitally-transform-indias-175-billion\" style=\"\" rel=\"noopener\">press release<\/a>.The JV is eyeing what it says is a USD 175 bn market across infrastructure, fintech, healthtech, and greentech sectors, the press release reads. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Expanding smart metering:<\/strong><a target=\"_blank\" href=\"https:\/\/www.adanienergysolutions.com\/\" style=\"\" rel=\"noopener\">Adani Energy<\/a> \u2019s subsidiary, Adani Transmission Step-Four, and IHC\u2019s Esyasoft Holdings formed a JV dubbed Adani Esyasoft Smart Solutions, which is set to expand Adani\u2019s smart metering business in India and other countries, according to a <a target=\"_blank\" href=\"https:\/\/www.adanienergysolutions.com\/newsroom\/media-releases\/Adani-Energy-Solutions-forms-JV-with-IHC-backed-Esyasoft-to-expedite-rollout-of-smart-meters\" style=\"\" rel=\"noopener\">press release<\/a>. The JV will serve Adani Energy\u2019s software application needs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who owns what: <\/strong>In both cases, the IHC subsidiary holds a 51% stake, and the Adani unit holds the remaining 49%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More details:<\/strong> Adani did not disclose the exact figures of the investment, but said that it has secured orders for the installation of 20 mn smart meters from various power distribution companies across India. Eyasoft says the JV will help it serve an additional 30 mn consumer end points, compared with just 25 mn now. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND<\/strong><strong>- <\/strong>Back in <a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/news\/story?storyId=b625c2fc-43d4-4dc4-91ac-56207d2d48cf\" style=\"\" rel=\"noopener\">October<\/a>, IHC raised its stake in Adani Enterprises to more than 5%, expressing interest in further investments in India, a move that transpired around a week after IHC's divestment of its minority stakes in Adani Green Energy and Adani Energy Solutions to an undisclosed buyer. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A bright start to 2024 to counter a rough start to 2023:<\/strong> Adani Group is getting renewed support from investors after getting hit by a wave of short-selling in January 2023 by Hindenburg Research. The allegation caused a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/news\/story\/aa13c76f-271a-4623-9189-13a7efa67432\/TONIGHT:%20Blinken%20meets%20El%20Sisi,%20Shoukry%20for%20Palestine-Israel%20talks%20%2B%3Cmark%3E%20Adani%20%3C%2Fmark%3EGroup%20meltdown%20rolls%20on\" style=\"\" rel=\"noopener\">massive sell-off<\/a> of Adani Group\u2019s shares, wiping approximately USD 72 bn off its stock market value. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adani\/\">Adani<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ihc\/\">IHC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/india\/\">India<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87519\" 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=\"87519\">\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\/2024\/01\/03\/e-backs-out-of-major-mobily-acquisition\/\">\r\n                            e&amp; walks away from plan to boost stake in Mobily                        <\/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\/2024\/01\/03\/e-backs-out-of-major-mobily-acquisition\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/e-backs-out-of-major-mobily-acquisition\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/e-backs-out-of-major-mobily-acquisition\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=e&#038; backs out of major Mobily acquisition&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/e-backs-out-of-major-mobily-acquisition\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/e-backs-out-of-major-mobily-acquisition\/&title=e&#038; backs out of major Mobily acquisition\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=e%26%23038%3B+backs+out+of+major+Mobily+acquisition+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F01%2F03%2Fe-backs-out-of-major-mobily-acquisition%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/e-backs-out-of-major-mobily-acquisition\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/44.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87520\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/e-backs-out-of-major-mobily-acquisition\/44-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/44.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"44.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/44.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/44.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87519\" class=\"content-area-description single-story post-87519 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-e tag-enterpriseam-uae tag-ma tag-ma-watch tag-mobily tag-telecoms wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.6fb411a5-50a5-4257-87b2-1520fdaf14be.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>e& pulls the plug on KSA\u2019s Mobily acquisition:<\/strong> Telecom giant e& has terminated discussions for a controlling stake in Saudi Arabia\u2019s leading operator, Mobily, according to a <a target=\"_blank\" href=\"https:\/\/adxservices.adx.ae\/cdn\/contentdownload.aspx?doc=3021844\" style=\"\" rel=\"noopener\">disclosure (pdf) to the ADX<\/a> last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The transaction had been in the works for more than a year and a half:<\/strong> \u201cA way forward to conclude the potential transaction could not be determined,\u201d e& said, without providing further details. The termination of talks came nearly two years after e& <a target=\"_blank\" href=\"https:\/\/adxservices.adx.ae\/WebServices\/DataServices\/contentDownload.aspx?doc=2495476\" style=\"\" rel=\"noopener\">said in March 2022<\/a> it was looking to take a larger stake in Mobily. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new structure:<\/strong> e& now has a 28% stake in Mobily \u2014 making it Mobily\u2019s largest shareholder \u2014 and said it was looking for majority control with a bid to go up to 50% plus one share. It was offering SAR 47.00 per share, valuing Mobily at c. USD 9.7 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>e& is looking to grow globally:<\/strong> In August, the telecom giant signed a binding agreement worth EUR 2.2 bn to acquire Czech PPF Telecom Group\u2019s assets in Eastern Europe. E&\u2019s second major foray into Europe came as it continued to <a target=\"_blank\" href=\"https:\/\/www.bnnbloomberg.ca\/vodafone-s-top-backer-e-discusses-board-changes-and-ups-stake-1.1911729\" style=\"\" rel=\"noopener\">gradually boost its stake<\/a> in British telecoms group Vodafone to 14.6% since May 2022 <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/business\/2022\/may\/15\/uae-telecoms-group-raid-vodafone-shareholder\" style=\"\" rel=\"noopener\">when it acquired<\/a> a c. 10% stake in the company for USD 4.4 bn.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/e\/\">e&amp;<\/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\/mobily\/\">mobily<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/telecoms\/\">telecoms<\/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=\"87521\" 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=\"87521\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/micropolis-wants-to-go-to-the-new-york-stock-exchange\/\">\r\n                            Micropolos aims to raise USD 37 mn with IPO on the New York Stock Exchange                        <\/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\/2024\/01\/03\/micropolis-wants-to-go-to-the-new-york-stock-exchange\/\" 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 statement does not disclose a projected timeline for the offering. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In detail:<\/strong> The company aims to raise USD 37 mn through the issuance of 8.2 mn shares, priced between USD 4-5 per share, the statement said. The midpoint of the proposed range would hand the company a valuation of USD 172 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Revenues expected post 2024:<\/strong>Micropolis remains in the pre-revenue stage, due to the \u201ccollaborative nature\u201d of most of its ongoing projects, the statement said. Substantial earnings are not expected until the company begins commercial production, which is expected by the end of 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> Network 1 Financial Securities is the sole bookrunner on the transaction.     <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the company: <\/strong>Founded in 2014 by Fareed Aljawhar (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/fareed-aljawhari-1061a821\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), Micropolis is a robotics manufacturer specializing in the production of autonomous mobile robots (AMRs) that use wheeled electric vehicle platforms and are equipped with autonomous driving technology. The startup collaborated with Dubai Police to provide them with unmanned rovers that can detect criminal activity and communicate with police operation rooms, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/legal\/regulations\/dubai-new-ai-equipped-vehicle-to-alert-police-about-wanted-people-unregistered-cars-vtdg8bsv\" style=\"\" rel=\"noopener\">Khaleej Times<\/a> reported previously. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ipo-watch\/\">IPO WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/robotics\/\">robotics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87523\" 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=\"87523\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/ad-ports-noatum-acquires-spanish-terminal-to-boost-capacity-in-spain-gulfnav-fully-acquires-marine-services-subsidiary\/\">\r\n                            AD Ports\u2019 Noatum acquires Spanish terminal to boost capacity in Spain + GulfNav fully acquires marine services subsidiary                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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<img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1679.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87524\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/ad-ports-noatum-acquires-spanish-terminal-to-boost-capacity-in-spain-gulfnav-fully-acquires-marine-services-subsidiary\/1679-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1679.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1679.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1679.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1679.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87523\" class=\"content-area-description single-story post-87523 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-ad-ports tag-enterpriseam-uae tag-logistics tag-ma-watch tag-noatum tag-spain wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.6fb411a5-50a5-4257-87b2-1520fdaf14be.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>We saw two major acquisitions from logistics firms over the past few days:<\/strong> AD Ports\u2019 logistics arm <strong><a target=\"_blank\" href=\"https:\/\/www.noatumlogistics.com\/\" style=\"\" rel=\"noopener\">Noatum<\/a><\/strong> acquired a Spanish terminal to expand operations in Castell\u00f3n, while Gulf Navigation snapped up Polimar Holding\u2019s stake in its maritime services subsidiary. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- AD Ports\u2019 logistics arm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.noatumlogistics.com\/\" style=\"\" rel=\"noopener\">Noatum<\/a><\/strong><strong> has acquired 100% of <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.apmterminals.com\/en\/castellon\/about\/our-terminal\" style=\"\" rel=\"noopener\">APM Terminals<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.apmterminals.com\/en\/castellon\/about\/our-terminal\" style=\"\" rel=\"noopener\">Castell\u00f3n<\/a><\/strong><strong> in Spain for EUR 10 mn<\/strong>, as it looks to consolidate operations in Spain, according to an <a target=\"_blank\" href=\"https:\/\/adxservices.adx.ae\/cdn\/contentdownload.aspx?doc=3022991\" style=\"\" rel=\"noopener\">ADX filing (pdf)<\/a>. The company has regulatory clearance for the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The acquisition will see Noatum expand its bulk, general cargo, and container processing capacities in Spain<\/strong> while continuing to provide APM Terminals\u2019 third-party services, the statement said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Noatum has already been managing a multipurpose terminal in Castell\u00f3n since 2004 and recently upgraded the terminal.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The acquisition hands it control of the 250k sqm terminal at Castell\u00f3n<\/strong>, with the two terminals having the capacity to 250k TEUs (20-foot equivalent units) per year, making up 70% of container volume capacity at Castell\u00f3n\u2019s port. The terminals can handle 2 mn tonnes of bulk cargo and roll-on, roll-off cargo, and have direct rail links to the MENA region, the statement says. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Covering their bases:<\/strong> Noatum also said it has reached a long-term agreement with an unnamed stevedoring union with an eye to maintaining stable operations over the coming years, the statement added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>AD Ports Group finalized its acquisition of Noatum, which was <a target=\"_blank\" href=\"https:\/\/www.adportsgroup.com\/en\/news-and-media\/2022\/11\/18\/acquisition-of-noatum-propels-ad-ports-group-to-become-a-global-logistics-platform\" style=\"\" rel=\"noopener\">initially announced<\/a> in November 2022, <a target=\"_blank\" href=\"https:\/\/logistics.enterprise.news\/news\/story?storyId=8edf9e4b-0ac1-4f35-af51-9d8b15bba502\" style=\"\" rel=\"noopener\">back in July 2023<\/a> after receiving clearance from the European Commission <a target=\"_blank\" href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/es\/mex_23_1641\" style=\"\" rel=\"noopener\">earlier in 2023<\/a>. The 100% acquisition was valued at EUR 660 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Noatum is investing big in Spain:<\/strong> The company also <a target=\"_blank\" href=\"https:\/\/logistics.enterprise.news\/news\/story?storyId=35686592-230a-46b3-885d-0400f8407680\" style=\"\" rel=\"noopener\">moved to acquire<\/a> Spanish trucking company Ses\u00e9 Auto Logistics in October 2023. The move is expected to be finalized in 1Q 2024.<\/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>#2- GulfNav acquires Gulf Navigation Polimar:<\/strong> Dubai-based maritime and shipping company <a target=\"_blank\" href=\"https:\/\/www.gulfnav.com\/\" style=\"\" rel=\"noopener\">GulfNav<\/a> has bought out minority investor Polimar Holding\u2019s 40% stake in its maritime services subsidiary Gulf Navigation <a target=\"_blank\" href=\"http:\/\/polimarshipping.com\/\" style=\"\" rel=\"noopener\">Polimar Maritime<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.gulfnav.com\/Article\/10276\/GULFNAV-Acquires-100-of-Gulf-Navigation-Polimar-and-submits-a-proposal-regarding-the-structure-of-the-acquisition-of-Brooge\" style=\"\" rel=\"noopener\">press release<\/a> published last Wednesday. The move hands GulfNav full ownership of the subsidiary, the statement says. The acquisition was valued at USD 1 mn, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/6.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a> to the Dubai Financial Market. Polimar is a Turkish company. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gulfnav\u2019s plans for the company:<\/strong> The company is looking to expand the scope of the subsidiary\u2019s operations to provide more integrated logistics solutions, the DFM disclosure said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- An update on its proposal to acquire BPGIC:<\/strong> Separately, GulfNav submitted a proposal detailing the structure of an acquisition of oil storage outfit <a target=\"_blank\" href=\"https:\/\/bpgic.com\/\" style=\"\" rel=\"noopener\">Brooge Petroleum and Gas Investment Company (BPGIC)<\/a> to the <a target=\"_blank\" href=\"https:\/\/www.sca.gov.ae\/en\/home.aspx\" style=\"\" rel=\"noopener\">Securities and Commodities Authority<\/a>. The company had submitted a proposal to fully acquire the company from Nasdaq-listed <a target=\"_blank\" href=\"https:\/\/broogeenergy.com\/\" style=\"\" rel=\"noopener\">Brooge Energy<\/a> back in <a target=\"_blank\" href=\"https:\/\/logistics.enterprise.news\/news\/story?storyId=030e28a9-6ada-41ce-9290-38e93f5d4827\" style=\"\" rel=\"noopener\">October<\/a> 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Discussions between Brooge Energy and Gulfnav are ongoing<\/strong>, with the pair working with advisors to complete an evaluation of the transaction and obtain regulatory approvals, GulfNav said in an update attached to its statement. The acquisition was initially expected to close in 4Q 2023.   <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ad-ports\/\">AD Ports<\/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\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/noatum\/\">Noatum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/spain\/\">Spain<\/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=\"87525\" 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=\"87525\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/taqa-to-develop-makkah-water-infrastructure-project\/\">\r\n                            Taqa-led consortium lands major water infrastructure project in Makkah                        <\/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\/2024\/01\/03\/taqa-to-develop-makkah-water-infrastructure-project\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/taqa-to-develop-makkah-water-infrastructure-project\/')\">\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\/2024\/01\/03\/taqa-to-develop-makkah-water-infrastructure-project\/\">\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=Taqa to develop Makkah water infrastructure project&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/taqa-to-develop-makkah-water-infrastructure-project\/\">\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\/2024\/01\/03\/taqa-to-develop-makkah-water-infrastructure-project\/&title=Taqa to develop Makkah water infrastructure project\">\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=Taqa+to+develop+Makkah+water+infrastructure+project+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F01%2F03%2Ftaqa-to-develop-makkah-water-infrastructure-project%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\/2024\/01\/03\/taqa-to-develop-makkah-water-infrastructure-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/173.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87526\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/taqa-to-develop-makkah-water-infrastructure-project\/173-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/173.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"173.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/173.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/173.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87525\" class=\"content-area-description single-story post-87525 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam-uae tag-gulf-investment-corporation tag-investment-watch tag-juranah-independent-strategic-water-reserve-project tag-saudi-water-partnership-company tag-taqa tag-vision-international-investment-company wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.6fb411a5-50a5-4257-87b2-1520fdaf14be.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Taqa-led consortium lands water infrastructure project in <\/strong><strong>Makkah: <\/strong>The SAR 1.5 bn (AED 1. 47 bn) <a target=\"_blank\" href=\"https:\/\/www.swpc.sa\/en\/alfadley-signed-the-project-agreements-of-juranah-iswr\/\" style=\"\" rel=\"noopener\">Juranah<\/a><a target=\"_blank\" href=\"https:\/\/www.swpc.sa\/en\/alfadley-signed-the-project-agreements-of-juranah-iswr\/\" style=\"\" rel=\"noopener\">Independent Strategic Water Reservoir Project<\/a> in Makkah will be developed by a regional consortium led by Abu Dhabi\u2019s National Energy Company (<a target=\"_blank\" href=\"https:\/\/www.taqa.com\/\" style=\"\" rel=\"noopener\">Taqa<\/a>), according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/86.pdf\" style=\"\" rel=\"noopener\">a joint statement<\/a> out yesterday. The <a target=\"_blank\" href=\"https:\/\/www.swpc.sa\/en\/\" style=\"\" rel=\"noopener\">Saudi<\/a><a target=\"_blank\" href=\"https:\/\/www.swpc.sa\/en\/\" style=\"\" rel=\"noopener\">Water Partnership Company (SWPC)<\/a> awarded the consortium the project under a build, own, operate, transfer (BOOT) agreement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The consortium: <\/strong>The consortium comprises Taqa, Saudi\u2019s <a target=\"_blank\" href=\"https:\/\/visioninvest.com\/\" style=\"\" rel=\"noopener\">Vision International Investment Company (Vision Invest)<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.gic.com.kw\/\" style=\"\" rel=\"noopener\">Gulf Investment Corporation (GIC)<\/a>. Taqa will act as the lead member overseeing operations and maintenance (O&M) through an independent specialized O&M company, equally co-owned with Vision Invest.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The initiative aims to address pressing water requirements throughout Saudi Arabia <\/strong>and manage peak demand for water in Makkah and Madinah during the Hajj season.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Financing and ownership:<\/strong> Around 80% of the financial support is set to be covered through debt, according to the statement. Taqa is acquiring a 35% share in the project company and a 50% stake in the O&M company. Details regarding the share distribution among the rest of the members of the consortium were not disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Timeline: <\/strong>The project is expected to kick off operations in 2Q 2027. After completing construction, the consortium will own and operate the water reservoir infrastructure for 30 years, after which ownership will be transferred to SWPC.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gulf-investment-corporation\/\">Gulf Investment Corporation<\/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\/juranah-independent-strategic-water-reserve-project\/\">Juranah Independent Strategic Water Reserve Project<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/saudi-water-partnership-company\/\">Saudi Water Partnership Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/taqa\/\">Taqa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/vision-international-investment-company\/\">Vision International Investment Company<\/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=\"87527\" 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=\"87527\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/new-regulations-for-short-term-credit-amid-rising-demand-for-bnpl\/\">\r\n                            Entities must secure CBUAE approval for short-term credit offerings under new framework                        <\/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\/2024\/01\/03\/new-regulations-for-short-term-credit-amid-rising-demand-for-bnpl\/\" 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\/2024\/01\/03\/new-regulations-for-short-term-credit-amid-rising-demand-for-bnpl\/')\">\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\/2024\/01\/03\/new-regulations-for-short-term-credit-amid-rising-demand-for-bnpl\/\">\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=New regulations for short-term credit amid rising demand for BNPL&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/new-regulations-for-short-term-credit-amid-rising-demand-for-bnpl\/\">\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\/2024\/01\/03\/new-regulations-for-short-term-credit-amid-rising-demand-for-bnpl\/&title=New regulations for short-term credit amid rising demand for BNPL\">\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=New+regulations+for+short-term+credit+amid+rising+demand+for+BNPL+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F01%2F03%2Fnew-regulations-for-short-term-credit-amid-rising-demand-for-bnpl%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\/2024\/01\/03\/new-regulations-for-short-term-credit-amid-rising-demand-for-bnpl\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/132.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87528\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/new-regulations-for-short-term-credit-amid-rising-demand-for-bnpl\/132-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/132.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"132.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/132.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/132.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87527\" class=\"content-area-description single-story post-87527 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation-watch tag-banking tag-bnpl tag-central-bank-of-the-uae tag-enterpriseam-uae tag-fintech tag-regulation-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.6fb411a5-50a5-4257-87b2-1520fdaf14be.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>BNPLs need to get approval from the CBUAE to offer credit: <\/strong>The Central Bank of the UAE (CBUAE) has introduced a new regulatory framework for short-term credit facilities, with new <a target=\"_blank\" href=\"https:\/\/rulebook.centralbank.ae\/en\/rulebook\/finance-companies-regulation-0\" style=\"\" rel=\"noopener\">amendments<\/a> to the country\u2019s Finance Companies Regulation, according to a CBUAE <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/116.pdf\" style=\"\" rel=\"noopener\">statement<\/a>. The new provisions come in response to \u201cglobal shifts in consumer financial trends\u201d and increased demand for buy now, pay later (BNPL) and similar credit products, the statement says. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART-<\/strong> Short-term credit refers to credit that is provided for a period of a year or less, without interest and without a need for collateral, according to the amendments. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fine print<\/strong>: <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Agents of licensed banks or finance companies will need approval from the CBUAE to offer short-term credit<\/strong>, while entities looking to offer short-term credit will need to be licensed as \u201crestricted license finance companies\u201d or to partner with finance firms or bank agents.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Short-term credit is capped at AED 20k<\/strong> or the total of three months\u2019 worth of net income of the borrower, whichever is lower, and any amount above AED 5k will require validation on the borrower\u2019s credit information with the Credit Information Agency.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- No interest can be charged on short-term credit<\/strong>, and any fees \u2014 including late payment fees \u2014 should be capped at 30% of the original credit amount.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Restricted license finance companies must extend short-term credit within a maximum of a year<\/strong> after receiving the license. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/bnpl\/\">BNPL<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/central-bank-of-the-uae\/\">Central Bank of the UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fintech\/\">fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/regulation-watch\/\">REGULATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87529\" 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=\"87529\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">BUDGET WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/sharjah-ruler-approves-bumper-aed-40-8-bn-2024-budget\/\">\r\n                            Sharjah ruler approves bumper AED 40.8 bn 2024 budget                        <\/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\/2024\/01\/03\/sharjah-ruler-approves-bumper-aed-40-8-bn-2024-budget\/\" 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\/2024\/01\/03\/sharjah-ruler-approves-bumper-aed-40-8-bn-2024-budget\/')\">\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\/2024\/01\/03\/sharjah-ruler-approves-bumper-aed-40-8-bn-2024-budget\/\">\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=Sharjah ruler approves bumper AED 40.8 bn 2024 budget&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/sharjah-ruler-approves-bumper-aed-40-8-bn-2024-budget\/\">\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\/2024\/01\/03\/sharjah-ruler-approves-bumper-aed-40-8-bn-2024-budget\/&title=Sharjah ruler approves bumper AED 40.8 bn 2024 budget\">\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=Sharjah+ruler+approves+bumper+AED+40.8+bn+2024+budget+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F01%2F03%2Fsharjah-ruler-approves-bumper-aed-40-8-bn-2024-budget%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\/2024\/01\/03\/sharjah-ruler-approves-bumper-aed-40-8-bn-2024-budget\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/149.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87530\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/sharjah-ruler-approves-bumper-aed-40-8-bn-2024-budget\/149-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/149.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"149.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/149.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/149.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87529\" class=\"content-area-description single-story post-87529 post type-post status-publish format-standard has-post-thumbnail hentry category-budget-watch tag-budget-watch tag-economy tag-enterpriseam-uae tag-infrastructure tag-sharjah wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.6fb411a5-50a5-4257-87b2-1520fdaf14be.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Sharjah Ruler gives green light to largest-ever budget:<\/strong> Sharjah Ruler Sheikh Sultan bin Mohammad Al Qasimi has approved a AED 40.83 bn budget for the emirate in 2024, making it the largest in Sharjah\u2019s history, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/b0y6mhi-sharjah-ruler-approves-sharjah%E2%80%99s-2024-budget\" style=\"\" rel=\"noopener\">WAM<\/a> reports. The final spending plan sets out a 16% y-o-y increase in expenditure compared to 2023\u2019s budget of AED 32.3 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Here\u2019s how it breaks down:<\/strong><\/p>\n<ul>\n<li>Infrastructure: 40%<\/li>\n<li>Economic development: 30% <\/li>\n<li>Social development: 21%<\/li>\n<li>Support and assistance: 12%<\/li>\n<li>Government administration and public safety: 9%<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Sharjah government also included incentive packages for the private sector<\/strong>, as it pushes forward with its <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/12lymfr-sharjah-finance-department-launches-strategic-plan#:~:text=The%20strategic%20plan%20(2023%2D2025,accomplish%20digital%20transformation%2C%20and%20link\" style=\"\" rel=\"noopener\">strategic plan<\/a> to encourage private sector activity in the economy .<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Revenues expected to grow: <\/strong>The Sharjah gov\u2019t expects operational revenues to represent 71% of the total 2024 revenue, up 5% y-o-y. Capital revenues are projected to increase by 11%, tax revenues by 9%, customs revenues by 4%, and oil and gas revenues by 5%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wage expenditure is up:<\/strong> Wages and salaries will make up 26% of the 2024 budget, while operating expenses are expected to take up 25%. The Sharjah government also earmarked 15% of the spending plan for loan repayments and interest. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/budget-watch\/\">BUDGET WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sharjah\/\">Sharjah<\/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=\"87531\" 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=\"87531\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/dubais-executive-council-gets-additional-governing-responsibilities\/\">\r\n                            New Dubai law hands Executive Council additional governing responsibilities                        <\/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\/2024\/01\/03\/dubais-executive-council-gets-additional-governing-responsibilities\/\" 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\/2024\/01\/03\/dubais-executive-council-gets-additional-governing-responsibilities\/')\">\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\/2024\/01\/03\/dubais-executive-council-gets-additional-governing-responsibilities\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Dubai\u2019s Executive Council gets additional governing responsibilities&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/dubais-executive-council-gets-additional-governing-responsibilities\/\">\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\/2024\/01\/03\/dubais-executive-council-gets-additional-governing-responsibilities\/&title=Dubai\u2019s Executive Council gets additional governing responsibilities\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Dubai%E2%80%99s+Executive+Council+gets+additional+governing+responsibilities+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F01%2F03%2Fdubais-executive-council-gets-additional-governing-responsibilities%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\/2024\/01\/03\/dubais-executive-council-gets-additional-governing-responsibilities\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/88.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87532\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/dubais-executive-council-gets-additional-governing-responsibilities\/88-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/88.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"88.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/88.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/88.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87531\" class=\"content-area-description single-story post-87531 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-dubai tag-dubai-executive-council tag-enterpriseam-uae tag-legislation-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.6fb411a5-50a5-4257-87b2-1520fdaf14be.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Dubai Executive Council will now have the authority to advise the emirate\u2019s ruler on<\/strong><strong> strategic affairs, policy endorsement, national prioritization<\/strong>, and enhancing government legislation, after Dubai Ruler and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum issued a new law outlining the body\u2019s roles and responsibilities, reports <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/12muryd-mohammed-bin-rashid-issues-law-dubai-executive\" style=\"\" rel=\"noopener\">Wam<\/a>. The new law replaces the previous version, which was issued in 2003. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More <\/strong><strong>responsibilities also<\/strong><strong> handed to the Strategic Affairs Council: <\/strong>The Strategic Affairs Council (SAC) \u2014an affiliate of the Executive Council \u2014 will also be handed the authority to approve public policies, including the Dubai Strategic Plan, submitting them for authorization to TEC. It will also oversee government performance and development plans, and will collaborate closely with the Executive Council for approvals and reviews.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai-executive-council\/\">Dubai Executive Council<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/legislation-watch\/\">LEGISLATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87533\" 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=\"87533\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/amanat-holdings-appoints-shamsheer-vayalil-as-chairman\/\">\r\n                            Amanat Holdings appoints Shamsheer Vayalil as chairman                        <\/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\/2024\/01\/03\/amanat-holdings-appoints-shamsheer-vayalil-as-chairman\/\" 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\/2024\/01\/03\/amanat-holdings-appoints-shamsheer-vayalil-as-chairman\/')\">\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\/2024\/01\/03\/amanat-holdings-appoints-shamsheer-vayalil-as-chairman\/\">\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=Amanat Holdings appoints Shamsheer Vayalil as chairman&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/amanat-holdings-appoints-shamsheer-vayalil-as-chairman\/\">\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\/2024\/01\/03\/amanat-holdings-appoints-shamsheer-vayalil-as-chairman\/&title=Amanat Holdings appoints Shamsheer Vayalil as chairman\">\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=Amanat+Holdings+appoints+Shamsheer+Vayalil+as+chairman+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F01%2F03%2Famanat-holdings-appoints-shamsheer-vayalil-as-chairman%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\/2024\/01\/03\/amanat-holdings-appoints-shamsheer-vayalil-as-chairman\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/104.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87534\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/amanat-holdings-appoints-shamsheer-vayalil-as-chairman\/104-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/104.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"104.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/104.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/104.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87533\" class=\"content-area-description single-story post-87533 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-amanat-holdings tag-board-of-directors tag-chairman tag-enterpriseam-uae tag-moves tag-shamsheer-vayalil tag-vice-chairman wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.6fb411a5-50a5-4257-87b2-1520fdaf14be.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Amanat Holdings board gets a new chair + vice chair: <\/strong>Dubai-based healthcare and education investment company Amanat Holdings has named its largest individual shareholder, Shamsheer Vayalil (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/dr-shamsheer-vayalil-77850b1a\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), as the chairman of its board of directors on Friday, according to <a target=\"_blank\" href=\"https:\/\/feeds.dfm.ae\/documents\/\/2023\/Dec\/29\/494a3a4c-4e33-4b11-819d-8155f3116bef\/AMANAT_CHAIRMAN_APPOINTMENT_EN_DEC_2023.pdf\" style=\"\" rel=\"noopener\">a disclosure (pdf)<\/a> to the DFM. Vayalil succeeds Hamad Abdulla Alshamsi. Amanat also appointed Abdulla Mohammed Hassan Mohammed Alhosani as vice chairman.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investment Minister Mohamed Hassan Alsuwaidi has stepped down from his position as <\/strong><strong>a board <\/strong><strong>member in Adnoc Distribution<\/strong>, the company said in an ADX <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/123.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. Besides serving as investment minister since July 2023, Alsuwaidi is the CEO of Abu Dhabi Development Holding (ADQ) and serves as chairman of ADX-listed Taqa. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/amanat-holdings\/\">Amanat Holdings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/board-of-directors\/\">Board of Directors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/chairman\/\">Chairman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/shamsheer-vayalil\/\">Shamsheer Vayalil<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/vice-chairman\/\">Vice Chairman<\/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=\"87535\" 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=\"87535\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">TRENDING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/uae-x-reacts-to-the-assassination-of-hamas-deputy-chairman-in-beirut\/\">\r\n                            UAE X condemns assassination of Hamas deputy chairman in Beirut                        <\/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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            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=UAE+X+reacts+to+the+assassination+of+Hamas+deputy+chairman+in+Beirut+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F01%2F03%2Fuae-x-reacts-to-the-assassination-of-hamas-deputy-chairman-in-beirut%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\/2024\/01\/03\/uae-x-reacts-to-the-assassination-of-hamas-deputy-chairman-in-beirut\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1203.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87536\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/uae-x-reacts-to-the-assassination-of-hamas-deputy-chairman-in-beirut\/1203-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1203.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1203.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1203.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1203.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87535\" class=\"content-area-description single-story post-87535 post type-post status-publish format-standard has-post-thumbnail hentry category-trending tag-enterpriseam-uae tag-hamas tag-sports tag-trending wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.6fb411a5-50a5-4257-87b2-1520fdaf14be.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE X is angry about Hamas deputy chairman assassination: <\/strong>We saw <a target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%D8%A8%D9%8A%D8%B1%D9%88%D8%AA&src=trend_click&vertical=trends\" style=\"\" rel=\"noopener\">\u0628\u064a\u0631\u0648\u062a#<\/a> and <a target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%22%D8%A7%D9%84%D8%B6%D8%A7%D8%AD%D9%8A%D9%87%20%D8%A7%D9%84%D8%AC%D9%86%D9%88%D8%A8%D9%8A%D9%87%22&src=trend_click&vertical=trends\" style=\"\" rel=\"noopener\">\u0627\u0644\u0636\u0627\u062d\u064a\u0647<\/a><a target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%22%D8%A7%D9%84%D8%B6%D8%A7%D8%AD%D9%8A%D9%87%20%D8%A7%D9%84%D8%AC%D9%86%D9%88%D8%A8%D9%8A%D9%87%22&src=trend_click&vertical=trends\" style=\"\" rel=\"noopener\">\u0627\u0644\u062c\u0646\u0648\u0628\u064a\u0647#<\/a> in reaction to the assassination of <a target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%22%D8%B5%D8%A7%D9%84%D8%AD%20%D8%A7%D9%84%D8%B9%D8%A7%D8%B1%D9%88%D8%B1%D9%8A%22&src=trend_click&vertical=trends\" style=\"\" rel=\"noopener\">\u0635\u0627\u0644\u062d<\/a><a target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%22%D8%B5%D8%A7%D9%84%D8%AD%20%D8%A7%D9%84%D8%B9%D8%A7%D8%B1%D9%88%D8%B1%D9%8A%22&src=trend_click&vertical=trends\" style=\"\" rel=\"noopener\">\u0627\u0644\u0639\u0627\u0631\u0648\u0631\u064a#<\/a>, the deputy chairman of Hamas\u2019 political wing, yesterday in Beirut. We have the rundown of what happened in What We\u2019re Tracking Today, above. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also making the rounds is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%23Japan&src=trend_click&vertical=trends\" style=\"\" rel=\"noopener\">#Japan<\/a><\/strong><strong>, <\/strong>following the news of the Japan Airlines Airbus crashing into a Japanese Coast Guard plane at Tokyo\u2019s Haneda airport. We also have the story in this morning\u2019s What We\u2019re Tracking Today. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In sporting news<\/strong>, <a target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%D9%86%D9%8A%D9%88%D9%83%D8%A7%D8%B3%D9%84&src=trend_click&vertical=trends\" style=\"\" rel=\"noopener\">\u0646\u064a\u0648\u0643\u0627\u0633\u0644#<\/a> was trending after Newcastle United\u2019s 2-4 loss against Liverpool on Monday.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/hamas\/\">Hamas<\/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\/trending\/\">TRENDING<\/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=\"87537\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43010.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.mashreq.com\/en\/uae\/neo\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/20607.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Rise every day<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43009.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/20617.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87538\" 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=\"87538\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/adp-inks-usd-200-mn-egypt-terminal-agreement-plus-news-from-real-estate-financial-services-energy-trade-and-tourism-and-more\/\">\r\n                            ADP inks USD 200 mn Egypt terminal agreement. 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Under the USD 200 mn, 30-year concession agreement, the Emirati port developer is expected to kick off Safaga II terminal operations in 2Q 2025, handling some 5 mn tons of dry bulk, 1 mn tons of liquid bulk, 450k TEUs of containerized cargo and 50k car-equivalent units (CEUs) of roll-on, roll-off cargo after it signed the initial agreement to develop the Egyptian port back in <a target=\"_blank\" href=\"https:\/\/www.adportsgroup.com\/en\/news-and-media\/2023\/03\/18\/ad-ports-group-signs-a-30-year-concession-agreement-to-develop-and-operate-safaga-port-in-egypt\" style=\"\" rel=\"noopener\">March<\/a>.<\/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\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.arada.com\/en\/\" style=\"\" rel=\"noopener\">Arada<\/a><\/strong><strong> is expanding<\/strong><strong> in Dubai with a new AED 600 mn plot purchased from Emirates <\/strong><strong>NBD subsidiary <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.royalpropertiesinc.com\/\" style=\"\" rel=\"noopener\">Rital Properties<\/a><\/strong>, reports <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/business\/property\/sharjah-developer-arada-expands-into-dubai-property-market-with-dh600-million-plot-purchase-1.100198584\" style=\"\" rel=\"noopener\">Gulf News<\/a>. Arada has initiated design work on the 138k sq ft plot in Zabeel 2 (between Dubai International Financial Center and Downtown Dubai), with plans to build a 50-floor luxury residential tower featuring 400 premium apartments. Full details of the project are expected to be disclosed in 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- ADX-listed <\/strong><strong><a target=\"_blank\" href=\"https:\/\/qholding.com\/aboutus\" style=\"\" rel=\"noopener\">Q Properties<\/a><\/strong><strong>, a subsidiary of IHC, <\/strong><strong>awarded <\/strong><strong><a target=\"_blank\" href=\"https:\/\/nsccme.com\/\" style=\"\" rel=\"noopener\">NSCC International<\/a><\/strong><strong> an AED <\/strong><strong>61.96 <\/strong><strong>mn design and construction contract for <\/strong><strong><a target=\"_blank\" href=\"https:\/\/reem-island.ae\/?utm_source=1&utm_medium=1&utm_campaign=reem_hills_uae&utm_content=cid%7C19548543797%7Cgid%7C145103402316%7Caid%7C644421015810%7Cdvc%7Cc%7Cpid%7Ckwd-1676344350920%7Cpos%7C%7Cadn%7Cg%7Cmt%7Cp%7Cloc%7C9112362&utm_term=reem%20hills&gad_source=1&gclid=Cj0KCQiAhc-sBhCEARIsAOVwHuRYrRH-yL48LeS0IY8c1DuFZeMhlrWD_9rlM3slRXQHB6jaNnbppx4aAvvdEALw_wcB\" style=\"\" rel=\"noopener\">Reem Hills<\/a><\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/q-properties-awards-a-aed-6196mln-contract-to-nscc-international-ltd-tcrs41ha\" style=\"\" rel=\"noopener\">press release<\/a>. NSCC will oversee the establishment of approximately 5k piles foundation for six apartment buildings, including 1-, 2-, and 3-bedroom apartments along with 3-bedroom townhouses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>First Takaful to sell real estate arm:<\/strong> Kuwait-based <a target=\"_blank\" href=\"https:\/\/firsttakaful.com.kw\/\" style=\"\" rel=\"noopener\">First Takaful Ins. Company<\/a>, a subsidiary of International Financial Advisors (IFA), is set to sell one of its UAE-based real estate investments, which will see an undisclosed buyer snap up 17% of First Takaful\u2019s total assets, IFA said in a DFM <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/115.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. Currently valued at KWD 2 mn (c. USD 6.6 mn), First Takaful will sell the asset for KWD 2.3 mn (c. USD 7.6 mn), to be paid in four installments over four years.<\/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\">M&A- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Afkar has a new major shareholder: <\/strong>ADX-listed <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=31c34149e6&e=8e5fca127e\" style=\"\" rel=\"noopener\">Emirates Stallions Group (ESG)<\/a>, an <a target=\"_blank\" href=\"https:\/\/www.ihcuae.com\/\" style=\"\" rel=\"noopener\">International Holding Company (IHC)<\/a> subsidiary, has acquired 60% of Abu Dhabi-based investment management firm Afkar Financial and Property Investments, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/79.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from ESG. The company did not disclose the value of the acquisition. ESG\u2019s parent company IHC had previously acquired 60% of the investment conglomerate Afkar back in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/82.pdf\" style=\"\" rel=\"noopener\">January 2021 (pdf)<\/a> through its wholly-owned subsidiary, IHC Industrial Holding. IHC acquired the 60% majority stake for an undisclosed amount. <\/p>\n<p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Masdar and Uzbekistan have inked an implementation agreement for a 2 GW wind farm<\/strong>,, according to a <a target=\"_blank\" href=\"https:\/\/masdar.ae\/en\/news\/newsroom\/the-president-of-uzbekistan-witnesses-grid-connection-of-masdar--projects\" style=\"\" rel=\"noopener\">press release<\/a>. The agreement will see the Abu Dhabi-based clean energy company increase battery energy storage capacity to 1,150 MWh from 500 MWh across five projects in Uzbekistan, including the Zarafshan wind farm and three solar projects in Jizzakh, Samarkand, and Sherabad.<\/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\">TRADE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Halliburton is building a high-tech facility to manufacture drilling tools for the oil industry in <\/strong><strong>Sharjah\u2019s Hamriyah Freezone<\/strong>, after the oil major signed an agreement with the Hamriyah Freezone Authority (HFZA), <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/b0y6m8z-halliburton-signs-agreement-with-hamriyah-free\" style=\"\" rel=\"noopener\">Wam<\/a> reports. No further details on the timeline or financials of the facility were provided. <\/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\">TOURISM- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi National Hotels (ADNH) has rebranded five luxury hotels under the Marriott and <\/strong><strong>Kempinski brands<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/business\/travel-and-tourism\/2023\/12\/29\/five-luxury-dubai-hotels-to-be-rebranded-after-adnh-teams-up-with-marriott-and-kempinski\/\" style=\"\" rel=\"noopener\">The National<\/a> reports. The move comes more than five years after ADNH acquired the hotels from Emaar back in 2018.As of January, The Address Dubai Marina will be the JW Marriott Hotel Marina, The Address Boulevard will become Kempinski The Boulevard Dubai, and The Address Dubai Mall will be rebranded as Kempinski Central Avenue Dubai. Vida Downtown Dubai Hotel will adopt the name Hotel Boulevard, Autograph Collection, and Manzil Downtown Dubai Hotel will be known as The Heritage Hotel, Autograph Collection.<\/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\">CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oman\u2019s Muscat Overseas Company bumped up its ownership in Bahrain\u2019s Al <\/strong><strong>Salam Bank<\/strong>, grabbing 160.2 mn shares and pushing its stake to 6.12% from 2.82%, according to a <a target=\"_blank\" href=\"https:\/\/www.dfm.ae\/the-exchange\/news-disclosures\/disclosures\/ac125f1a-0875-4da8-b7ad-21fe4ab8042b\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a> on Wednesday.<\/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\">BANKING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE + Hong Kong banks agree on knowledge sharing:<\/strong> The UAE Banks Federation (UBF) and Hong Kong Association of Banks (HKAB) signed an MoU last week to increase cooperation and exchange expertise, <a target=\"_blank\" href=\"https:\/\/www.tradearabia.com\/news\/BANK_417356.html\" style=\"\" rel=\"noopener\">Trade Arabia reports<\/a>. Under the agreement, UBF and HKAB will organize workshops and other events to share knowledge and experience with banking and financial institutions covering compliance with international regulations, rules, and principles of governance, transparency, and sustainability. <\/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\">ENVIRONMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Environment Agency Abu Dhabi (EAD) and ADQ will use advanced seeding drones <\/strong><strong>and AI to evaluate and restore ecosystems across Abu Dhabi<\/strong> through a partnership with environmental technology company Dendra, according to an Abu Dhabi Media Office <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/environment\/environment-agency-abu-dhabi-and-adq-partner-with-dendra-to-enhance-terrestrial-and-coastal-restoration-through-advanced-technologies\/\" style=\"\" rel=\"noopener\">statement<\/a>. The first restoration experiment is currently underway in the Al Dhafra Region with <a target=\"_blank\" href=\"https:\/\/dendra.io\/\" style=\"\" rel=\"noopener\">Dendra<\/a> drones being utilized for aerial seeding. The new approach can speed up cultivation and the drones, capable of carrying 53 species simultaneously, can cover an area larger than 100 football fields per day.<\/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\">REGULATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADJD gets new responsibilities:<\/strong> The Abu Dhabi Judicial Department (ADJD) has taken on the roles of the Abu Dhabi Police General Headquarters, directly managing penal and correctional institutions and juvenile facilities in the emirate, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/government-news\/adjd-now-oversees-correctional-and-rehabilitative-facilities-as-well-as-juvenile-centers-within-the-emirate-xrfxg00i\" style=\"\" rel=\"noopener\">press release<\/a>. The ADJD has also modified its operational, administrative, financial, technical, and HR requirements for the role.<\/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\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>National airline Etihad Airways launched two new services to India<\/strong>, with two daily flights connecting Abu Dhabi to Kozhikode and Thiruvananthapuram in the Kerala region, according to a company <a target=\"_blank\" href=\"https:\/\/www.etihad.com\/en\/news\/new-year-new-flights-as-etihad-welcomes-2024-with-more-destinations-to-india\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adp\/\">ADP<\/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\/halliburton\/\">Halliburton<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/masdar\/\">Masdar<\/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=\"87540\" 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=\"87540\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/are-you-ready-for-the-new-economic-order\/\">\r\n                            Are you ready for the new economic order?                        <\/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\/2024\/01\/03\/are-you-ready-for-the-new-economic-order\/\" 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\/2024\/01\/03\/are-you-ready-for-the-new-economic-order\/')\">\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\/2024\/01\/03\/are-you-ready-for-the-new-economic-order\/\">\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=Are you ready for the new economic order?&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/are-you-ready-for-the-new-economic-order\/\">\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\/2024\/01\/03\/are-you-ready-for-the-new-economic-order\/&title=Are you ready for the new economic order?\">\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=Are+you+ready+for+the+new+economic+order%3F+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F01%2F03%2Fare-you-ready-for-the-new-economic-order%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\/2024\/01\/03\/are-you-ready-for-the-new-economic-order\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/181.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87541\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/are-you-ready-for-the-new-economic-order\/181-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/181.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"181.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/181.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/181.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87540\" class=\"content-area-description single-story post-87540 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-uae tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.6fb411a5-50a5-4257-87b2-1520fdaf14be.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Could 2024 be the year when the world completes its transition into a new era of <\/strong><strong>expensive money? <\/strong>While investors are convinced that most of the world\u2019s major central banks have ended the cycle of rate hikes \u2014 a sentiment that has led global stock and bond markets to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/news\/story\/b7e24df5-d873-4ccb-b5bb-b656faa6f98e\" style=\"\" rel=\"noopener\">rally<\/a> in recent weeks \u2014 the implications of a \u201cnew economic order\u201d where interest rates are generally higher are likely to become more evident in 2024, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/investors-2024-is-year-transition-new-economic-order-2024-01-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> writes. Investors are betting that the US Federal Reserve could trim rates by around 1.5% to 4% by the end of the year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Business and consumers are going to face fresh challenges: <\/strong>Everyone, from individual consumers to countries, will have to figure out how to readjust to a high interest rate environment, the newswire writes. While consumers will earn more on their savings, they will have to cope with borrowing rates that could be more than twice as high and some companies will have to restructure their debt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH NOTING:<\/strong><\/p>\n<ul>\n<li><strong>BTC nears 2-year high:<\/strong> The cryptocurrency surpassed USD 45k for the first time in nearly 2 years. BTC has risen over 20% since the start of December. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-02\/bitcoin-soars-to-highest-level-in-21-months-on-etf-approval-hope?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/li>\n<li><strong>Argentina and the IMF are reportedly close to reaching an <\/strong><strong>agreement<\/strong> \u2014 which could come as soon as this month \u2014 over the delayed seventh review of the country\u2019s USD 44 bn loan program. An IMF delegation is set to arrive in Buenos Aires on Thursday to continue negotiations. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/americas\/argentina-imf-close-agree-delayed-programme-review-january-sources-2024-01-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-02\/argentina-says-imf-to-visit-thursday-to-restart-44-billion-deal\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/li>\n<\/ul>\n<p><a target=\"_blank\" id=\"t.17baa1583cff8d654b06b9963c681d4f6a5f26b7\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,588<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +0.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,091<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: +0.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">3,842<\/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: +0.3%)<\/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:1.0;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.centralbank.ae\/en\/forex-eibor\/exchange-rates\/\" style=\"\" rel=\"noopener\">USD : AED<\/a><\/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\">5.3% 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\">5.1% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,123<\/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: +1.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">25,502<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.4% (YTD: +2.4%)<\/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 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\">4,743<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: -0.6%)<\/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\">7,722<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: -0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">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\">-0.2% (YTD: -0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 75.89<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.57<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.4%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,067.40<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-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>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 45,106.91<\/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\">+3.3% (YTD: +6.3%)<\/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 0.8% yesterday<\/strong> on turnover of AED 349.05 mn. The index is up 0.8% 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>Takaful Emarat (+14.8%), Dubai Islamic Ins. and Reinsurance (+10.6%) and Islamic Arab Ins. Company (+8.7%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Ekttitab Holding Company (-2.3%), Aramex (-2.2%) and Union Coop (-1.6%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ADX rose 0.1% yesterday<\/strong> on turnover of AED 1.07 bn. The index is up 0.1% YTD.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87542\" 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=\"87542\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/gcc-inks-trade-agreement-with-south-korea-uae-congo-wrap-trade-talks\/\">\r\n                            GCC inks trade agreement with South Korea + UAE, Congo wrap trade talks                        <\/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\/2024\/01\/03\/gcc-inks-trade-agreement-with-south-korea-uae-congo-wrap-trade-talks\/\" 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 agreement covers government procurement, digital trade, cooperation in small and medium-sized enterprises, and customs procedures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai Customs + Qatari Consulate to partner in customs operations:<\/strong> Dubai Customs Director General Ahmed Mahboob Musabih met with Qatar\u2019s Consul General in Dubai, Sa\u2019eed bin Ali Al-Hajri on <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/government-news\/enhancing-ties-dubai-customs-and-qatari-consulate-collaborate-for-trade-and-innovation-mqoi9yqq\" style=\"\" rel=\"noopener\">Monday<\/a> to discuss strengthening trade connections and streamlining travel processes between the two countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- UAE + Congo wrap up trade talks:<\/strong> Foreign Trade Minister Thani bin Ahmed Al Zeyoudi and Congo\u2019s Economy and Finance Minister Jean-Baptiste Ondaye concluded negotiations last Thursday on a comprehensive economic partnership agreement (CEPA) between the two countries, <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=f36ed92272&e=5875b1ac4f\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The CEPA is set to amend tariffs, facilitate easier trade, and customs procedures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE <\/strong><strong>\u2764\ufe0f<\/strong><strong> trade with Africa: <\/strong>This was the second CEPA agreement inked with an African country in the last week of 2023 after Al Zeyoudi finalized trade talks with Mauritius <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/aq9klv2-uae-mauritius-conclude-comprehensive-economic\" style=\"\" rel=\"noopener\">last month<\/a>. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/cepa-negotiations\/\">CEPA negotiations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/congo\/\">Congo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/trade\/\">trade<\/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=\"87544\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/03\/87544-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87544\" class=\"content-area-description single-story post-87544 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;\">2024 <\/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\">JANUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">8-11 January (Monday-Thursday): SteelFab 2024, Sharjah Expo Centre <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9-11 January (Tuesday-Thursday): Dubai International Pharmaceuticals and Technologies Conference and Exhibition, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9-11 January (Tuesday-Thursday): Gulf Print and Pack, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">19 January (Friday): The Abu Dhabi Extreme Championship 2 (ADXC 2), Mubadala Arena. UFC champions Aljamain Sterling and Chase Hooper will be in the ring.<\/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;\">21-23 January: World of Coffee Dubai, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23-25 January (Tuesday-Thursday): The Unmanned Systems Exhibition (UMEX) and the Simulation and Training Exhibition (SimTEX), Abu Dhabi National Exhibition Centre (ADNEC), Abu Dhabi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26-28 January: Dubai Challenge Cup<\/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 January- 1 February: Arab Health, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12-13 February (Monday-Tuesday): Breakbulk Middle East conference, Dubai Trade Centre.<\/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;\">12-14 February (Monday-Wednesday): Sustainable Aviation Futures MENA Congress, Hotel Dubai Mall.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7-8 February (Wednesday-Thursday): Sharjah Investment Forum, Al Jawaher Reception and Convention Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26-28 February (Monday-Wednesday): Management and Sustainability of Water Resources, Marriott Hotel Al Jaddaf.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27-28 February (Tuesday-Wednesday): Dubai Association Centre Conference, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28-29 February (Wednesday-Thursday): Ras Al Khaimah Investment and Trade Summit, Rak Exhibition Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28-29 February (Wednesday-Thursday): UAE delegation attends \u2018Invest in Austria\u2019 conference, Vienna.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28 February-1 March (Wednesday-Friday): MENA Transport Congress and Exhibition 2024, 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;\">Signposted to happen sometime in February:<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">World Trade Organization Ministerial Conference, Abu Dhabi, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MARCH<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5-6 March (Tuesday-Wednesday): MRO Middle East, Dubai Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5-7 March (Tuesday-Thursday): World Police Summit, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5-8 March (Tuesday-Friday): Forbes\u2019 Third Annual 30\/50 Summit In Abu Dhabi During International Women\u2019s Day<\/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;\">12 March (Tuesday): Start of Ramadan, public holiday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">APRIL<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">11 April (Thursday): End of Ramadan, public holiday.<\/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;\">12 April (Friday): Eid Al-Fitr, public holiday.<\/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 April (Tuesday-Thursday): World Future Energy Summit, Abu Dhabi National Exhibition Centre.<\/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 April (Tuesday-Thursday): Middle East Coatings Show, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23-25 April (Tuesday-Thursday): Connecting Green Hydrogen MENA, Madinat Jumeirah Conference Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">8-9 May (Wednesday-Thursday): Innovative Finance Expo, Jumeirah Emirates Towers.<\/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;\">14-15 May (Tuesday-Wednesday): Seamless Middle East, Dubai World Trade Centre. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span 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;\">4-6 June (Tuesday-Thursday): The Hotel Show, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4-6 June (Tuesday-Thursday): INDEX, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4-6 June (Tuesday-Thursday): WORKSPACE, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4-6 June (Tuesday-Thursday): Leisure Show, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 June (Saturday): Arafat day, national holiday.<\/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 June (Sunday-Tuesday): Eid Al-Adha, national holiday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7 July (Sunday): Islamic new year, national holiday.<\/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 style=\"font-weight:400;\">9-11 September (Monday-Wednesday): World Utilities Congress, 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 style=\"font-weight:400;\">30-1 November (Wednesday-Friday): World Cities Cultural Summit, 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;\">NOVEMBER<\/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;\">11-14 November (Monday-Thursday): ADIPEC, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">11-14 November (Monday-Thursday): ADIPEC Maritime and Logistics Exhibition and 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:400;\">11-14 November (Monday-Thursday): ADIPEC Decarbonisation Accelerator, 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;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-3 December (Monday-Tuesday): National Day, public holiday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10-12 December (Tuesday-Thursday): Middle East Business Aviation, Dubai World Central.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>e&#038; drops Mobily stake buy | Micropolis eyes NYSE IPO | Taqa-led consortium to develop SAR 1.5 bn water infrastructure project | Emiratisation requirements in effect<\/p>\n","protected":false},"featured_media":87514,"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-87513","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"9906995d-b41d-4702-919f-90bb7374a76e","teaser":"e& drops Mobily stake buy | Micropolis eyes NYSE IPO | Taqa-led consortium to develop SAR 1.5 bn water infrastructure project | Emiratisation requirements 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