{"id":87651,"date":"2023-12-25T00:00:00","date_gmt":"2023-12-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=87651"},"modified":"2025-12-14T23:05:31","modified_gmt":"2025-12-14T23:05:31","slug":"cbuae-revises-up-2024-growth-forecast","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/cbuae-revises-up-2024-growth-forecast\/","title":{"rendered":"CBUAE revises up 2024 growth forecast"},"content":{"rendered":"<section id=\"87653\" 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=\"87653\">\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\/2023\/12\/25\/cbuae-expects-higher-growth-in-2024-plus-merry-christmas-everyone\/\">\r\n                            CBUAE expects higher growth in 2024 + Turkey scraps visa requirements for UAE citizens                        <\/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\/2023\/12\/25\/cbuae-expects-higher-growth-in-2024-plus-merry-christmas-everyone\/\" 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\/2023\/12\/25\/cbuae-expects-higher-growth-in-2024-plus-merry-christmas-everyone\/')\">\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\/2023\/12\/25\/cbuae-expects-higher-growth-in-2024-plus-merry-christmas-everyone\/\">\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=CBUAE expects higher growth in 2024. Plus: Merry Christmas, everyone&url=https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/cbuae-expects-higher-growth-in-2024-plus-merry-christmas-everyone\/\">\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\/2023\/12\/25\/cbuae-expects-higher-growth-in-2024-plus-merry-christmas-everyone\/&title=CBUAE expects higher growth in 2024. Plus: Merry Christmas, everyone\">\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=CBUAE+expects+higher+growth+in+2024.+Plus%3A+Merry+Christmas%2C+everyone+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2023%2F12%2F25%2Fcbuae-expects-higher-growth-in-2024-plus-merry-christmas-everyone%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\/2023\/12\/25\/cbuae-expects-higher-growth-in-2024-plus-merry-christmas-everyone\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/6\/market-bw-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87654\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/cbuae-expects-higher-growth-in-2024-plus-merry-christmas-everyone\/market-bw-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/6\/market-bw-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"market-bw-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/6\/market-bw-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/6\/market-bw-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87653\" class=\"content-area-description single-story post-87653 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-cbuae tag-enterpriseam-uae tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.5e09585e-6561-4610-9e9f-c50ca1e91db1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, ladies and gentlemen, and a very Merry <\/strong><strong>Christmas<\/strong> to everyone celebrating today. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The big theme as we kick off a new week:<\/strong> So. Many. Year-end. Reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The most important report of the bunch: The CBUAE\u2019s quarterly economic review<\/strong>, in which the central bank has revised upwards its projection for 2024 GDP growth by 1.3 percentage points. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have the full story in this morning\u2019s news well, below.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We also know it\u2019s the end of the year because it\u2019s bonus season:<\/strong> Dubai government employees are in line for a total of AED 152 mn worth of performance-based bonuses. Eligible employees will receive bonuses in accordance with the criteria established by Dubai Government Human Resources. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the crown prince of Dubai and chairman of the executive council, approved the distribution, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/aqargto-hamdan-bin-mohammed-approves-aed152-million\" style=\"\" rel=\"noopener\">Wam<\/a> reports<\/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 #19 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 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\"><a id=\"wwtt1\"><\/a> <strong>#1- UAE citizens can now enter Turkey without a visa:<\/strong> Ordinary passport holders from the UAE, Saudi Arabia, the United States, Canada, Bahrain, and Oman will no longer require tourist visas <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/legal\/immigration\/turkey-announces-visa-exemption-for-saudis-ml61gpra\" style=\"\" rel=\"noopener\">to enter Turkey<\/a>, Ankara said in its Official Gazette. Visa-free entry is good for stays of up to 90 days in every 180-day period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2-<\/strong><strong>Want to get hitched? All you need is your phone in Abu Dhabi: <\/strong>The Abu Dhabi Judicial Department (<a target=\"_blank\" href=\"https:\/\/www.adjd.gov.ae\/en\/pages\/home.aspx\" style=\"\" rel=\"noopener\">ADJD<\/a>) set up a new platform to deliver marriage licenses through text messages and streamline the registration process, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/12mhwyt-adjd-offers-instant-delivery-digital-marriage\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The new platform will allow spouses to receive their certificates immediately after the marriage is officially registered. The platform will allow applicants to finalize the process digitally or request a video-call marriage ceremony through its booking system. ADJD has issued some 7k digital marriage certificates since the program started in 2022 <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Abu Dhabi reins-in worker buses: <\/strong>The Abu Dhabi Police and Integrated Transport Centre banned worker buses holding more than 26 passengers from driving on Sheikh Zayed Bin Sultan Street, reports <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/12moch1-abu-dhabi-police-bans-workers-buses-sheikh-zayed\" style=\"\" rel=\"noopener\">Wam<\/a>. The ban applies to both directions from Sheikh Zayed Bridge to the Sheikh Zayed Tunnel (formerly Al Qurm Street).<\/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=\"wwtt3\"><\/a> <strong>#1- Dubai real estate market sets a new record: <\/strong>Dubai\u2019s property market recorded AED 39 bn worth of sales in October, beating the previous high of AED 30 bn from November 2022, <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/business\/markets\/dubai-real-estate-market-recorded-50-per-cent-jump-in-sales-performance-in-2023?_refresh=true\" style=\"\" rel=\"noopener\">Khaleej Times<\/a> reports, citing figures from Avalon Properties. The market has amassed over AED 400 bn in sales YTD, up from AED 265 bn in 2022. Recent sales include the <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/como-residences-penthouse-by-nakheel-shatters-records-as-the-most-expensive-penthouse-sold-in-dubai-am3xa7vk\" style=\"\" rel=\"noopener\">world\u2019s third most expensive penthouse<\/a>, which closed at AED 500 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> S&P Global Ratings forecast developers would sell up to 40k Dubai homes this year, owing to unprecedented demand, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-15\/dubai-s-record-home-prices-may-start-to-fall-by-end-of-2024-s-p\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported. Historically, some 15-30k homes in Dubai are sold each year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Real estate transactions in Sharjah rose 7.3% m-o-m to 4k<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.sharjah24.ae\/en\/Articles\/2023\/12\/21\/AED26bn-value-of-real-estate-transactions-in-Sharjah-during-Nov\" style=\"\" rel=\"noopener\">Sharjah24<\/a> reports, citing the Sharjah Real Estate Registration Department. Sales accounted for 20.2% of all transactions. The remaining 71.8% were classified as \u201cother trading transactions.\u201d Mortgage transactions, totaling 327 and representing 8% of the overall figure, accounted for a value of AED 434.5 mn. <strong>The total value of real estate changing hands dropped 28% m-o-m dip<\/strong> to AED 2.6 bn in November, down from AED 3.6 bn in <a target=\"_blank\" href=\"https:\/\/www.sharjah24.ae\/en\/Articles\/2023\/11\/13\/AED3-bil-of-real-estate-transactions-in-Sharjah-in-October-2023\" style=\"\" rel=\"noopener\">October<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#3- Hamriyah and Deira ports processed nearly 62.5 customs declarations in 9M 2023<\/strong>, worth a combined AED 12.1 bn, with 19 seizures documented, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/business\/transport-and-logistics\/hamriyah-and-deira-ports-report-33bln-in-customs-declaration-value-for-q3-2023-pbiovooi\" style=\"\" rel=\"noopener\">Wam<\/a> reported. <\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gaza is back on the global front pages<\/strong> after the latest Israeli attacks in central Gaza left at least 70 dead. (<a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-hamas-war-news-12-24-2023-9451d609ecdf85d14795caa628e2a127\" style=\"\" rel=\"noopener\">AP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israeli-airstrikes-kill-dozens-gaza-officials-say-christmas-bloodshed-2023-12-24\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/en\/news\/thp\/2023-12-24\/a-weekend-of-combat-in-gaza-kills-more-than-a-dozen-israeli-soldiers-a-sign-of-hamas-entrenchment?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6e7a8788-6a30-4686-abd4-0b7496e86bff\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2023\/12\/24\/israel-hamas-war-central-gaza\/?itid=hp-top-table-main_p001_f002\" style=\"\" rel=\"noopener\">Washington Post<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israeli Prime Minister Benjamin Netanyahu vowed to \u201ccontinue to fight\u201d in Gaza<\/strong> despite it \u201cexacting a very heavy cost from [Israel].\u201d Netanyahu\u2019s remarks to his cabinet yesterday came after he lost 10 of his troops in a single day and five the day before, marking the worst two-day losses for the Israeli army since early November, according to Reuters. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Netanyahu\u2019s remarks come two days after the UN Security Council passed a UAE-drafted <\/strong><strong><a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=c83ef8d1f5&e=5875b1ac4f\" style=\"\" rel=\"noopener\">resolution<\/a><\/strong><strong> on Gaza.<\/strong> The draft, although watered down from its original form, called for \u201curgent and extended humanitarian pauses and corridors throughout the Gaza Strip for a sufficient number of days\u201d and the safe delivery of humanitarian assistance to those in Gaza. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SEPARATELY- Jim Ratcliffe officially owns 25% of Man. United:<\/strong> British b\u2019naire Jim Ratcliffe has acquired a non-controlling 25% stake in Manchester United for around USD 1.3 bn, in a transaction that values the sports club at around USD 6.3 bn. (<a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/football\/2023\/dec\/24\/jim-ratcliffe-manchester-united-old-trafford-the-glazers-football\" style=\"\" rel=\"noopener\">The Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/soccer\/ratcliffe-becomes-minority-shareholder-manchester-united-2023-12-24\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/bf1c2181-1b4b-407f-af6e-f741b786c22e\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-24\/jim-ratcliffe-buys-manchester-united-stake-from-glazer-family\" style=\"\" rel=\"noopener\">Bloomberg<\/a>) <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n  <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"user\/subscribe-details\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>\n <\/div>\n<\/p><\/div>\n<\/div>\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\">[wwtt5] <strong>Federal government entities will be closed on<\/strong><strong> New Year\u2019s D<\/strong><strong>ay, which will be a <\/strong><strong>government holiday<\/strong>, the <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/FAHRGOV\/posts\/pfbid0ABg6wJ1QtmoM5VXpe6da57YByFfSx46qgHvCBZJaPigUUHypXvwQZuqeKdLx5HmDl\" style=\"\" rel=\"noopener\">Federal Authority for Government Human Resources said<\/a> last week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a big end-of-year weekend for pop fans<\/strong>, with Sean Paul and T.I. <a target=\"_blank\" href=\"https:\/\/www.visitdubai.com\/en\/whats-on\/dubai-events-calendar\/sean-paul-t-i-live\" style=\"\" rel=\"noopener\">playing Dubai\u2019s Coca<\/a><a target=\"_blank\" href=\"https:\/\/www.visitdubai.com\/en\/whats-on\/dubai-events-calendar\/sean-paul-t-i-live\" style=\"\" rel=\"noopener\">Cola Arena<\/a> and X Factor India star Jubin Nautiyal <a target=\"_blank\" href=\"https:\/\/www.visitdubai.com\/en\/whats-on\/dubai-events-calendar\/jubin-nautiyal\" style=\"\" rel=\"noopener\">performing at the Duty Free Tennis Stadium<\/a>, both this Saturday, 30 December.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.visitdubai.com\/en\/whats-on\/dubai-events-calendar\/madinat-jumeirah-festive-market\" style=\"\" rel=\"noopener\">Madinat Jumeirah\u2019s Festive Market<\/a><\/strong><strong> is also on throughout the holiday season<\/strong>, with a host of parties across Dubai, Abu Dhabi, and the rest of the country on 31 December. <\/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\/cbuae\/\">CBUAE<\/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=\"87655\" 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=\"87655\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/were-going-to-have-a-good-2024\/\">\r\n                            CBUAE projects 5.7% growth in 2024 for the UAE                        <\/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\" 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 <a href=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/were-going-to-have-a-good-2024\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/982.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87656\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/were-going-to-have-a-good-2024\/982-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/982.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"982.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/982.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/982.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87655\" class=\"content-area-description single-story post-87655 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-adx tag-dfm tag-economy tag-enterpriseam-uae tag-gdp tag-hospitality tag-inflation tag-insurance tag-real-estate tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.5e09585e-6561-4610-9e9f-c50ca1e91db1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Higher growth ahead: <\/strong>The Central Bank of the UAE (CBUAE) revised upwards the country\u2019s 2024 growth forecast to 5.7%, up from its September <a target=\"_blank\" href=\"https:\/\/www.centralbank.ae\/media\/uk5nabdb\/20230919_quarterly-economic-review-q2-2023_final_clean.pdf\" style=\"\" rel=\"noopener\">projection<\/a> when it penciled in 4.3% growth for next year. The bank sees an expected rise in OPEC oil production boosting growth, according to the CBUAE\u2019s <a target=\"_blank\" href=\"https:\/\/www.centralbank.ae\/media\/vkgbce52\/qer-q3-2023-english.pdf\" style=\"\" rel=\"noopener\">Quarterly Economic Review report<\/a>. The CBUAE also adjusted its 2023 growth forecast to 3.1%, from 3.3%, citing extended oil production cuts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The CBUAE\u2019s forecast matches the latest projections from the Arab Monetary Fund<\/strong>, which said in its <a target=\"_blank\" href=\"https:\/\/www.amf.org.ae\/sites\/default\/files\/publications\/2023-11\/AEO-19_organized.pdf\" style=\"\" rel=\"noopener\">Arab Economic Outlook (pdf)<\/a> last month that the UAE is set to post the highest growth rate among GCC countries next year, penciling in 4.3% GDP growth in 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bouncing back after a slower 2Q:<\/strong> GDP growth slowed in 2Q 2023, coming in at 3.8%, compared to a robust 8% in 2Q 2022. Slowing growth came on the back of slower oil production, with the non-oil sector factoring more in the mix.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The non-oil economy is going strong, but oil production cuts bite:<\/strong> Non-oil GDP grew at a 7.3% clip in 2Q 2023, with the finance, construction, real estate, wholesale, and retail sectors all booming, the report reads. Oil GDP contracted 5.1% y-o-y in 2Q 2023 on the back of OPEC production cuts that saw the country produce just 2.9 mn barrels per day. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The drop in the oil economy shouldn\u2019t last long:<\/strong> Oil GDP should clock in at 8.1% in 2024, with production averaging 3.2 mn barrels per day, the central bank writes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government recorded a fiscal surplus of AED 47.4 bn in 1H 2023<\/strong>, equal to 5.2% of GDP, according to the report, but government revenues dipped 19.2% y-o-y to AED 246.9 bn. Total government expenditures for the first half came in at AED 199.5 bn, an 8.3% increase on the same period last year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The CBUAE sees inflation dipping to 2.4% <\/strong><strong>from 2.8% this year.<\/strong> The adjustment was based on falling food prices and a strong AED, which outweighed a slight uptick in housing prices. <strong>It is penciling in inflation at 2.1% in 2024<\/strong>, citing global disinflationary patterns.That\u2019s a bit lower than the AMF, which sees inflation settling at 2.6% next year. The UAE has navigated inflation through interest rate hikes, capitalizing on advantages such as key trade partners\u2019 higher inflation rates, and the strength of the AED against the USD. The AED\u2019s performance makes imports, especially food, less expensive, the report says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How do our neighbors compare?<\/strong> The 2024 outlook, per the AMF:<\/p>\n<ul>\n<li>Oman: +3.6% (the fastest in the region)<\/li>\n<li>Saudi Arabia: +2.8% <\/li>\n<li>Qatar: +2.8%<\/li>\n<li>Kuwait: 2.5%<\/li>\n<li>Bahrain: -2.9%<\/li>\n<\/ul>\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\/adx\/\">ADX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dfm\/\">DFM<\/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\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/insurance\/\">insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87657\" 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=\"87657\">\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\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/consumer-spending-set-to-grow-5-y-o-y-next-year-mastercard-says\/\">\r\n                            UAE consumer spending is on track to grow 5% y-o-y next year, MasterCard says                        <\/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\/2023\/12\/25\/consumer-spending-set-to-grow-5-y-o-y-next-year-mastercard-says\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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With these moves, the UAE can maintain its position as the regional trade and investment hub.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gulf countries are projected to experience a 22% surge in spending by tourists in 2023 <\/strong><strong>compared to 2019<\/strong>, 26% higher than the global average. The UAE is one of the ten fastest-growing destinations for European tourists, with this trend expected to continue in 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SPEAKING OF TOURISTS- <\/strong><strong>Abu Dhabi is pushing to meet its tourist arrival target before <\/strong><strong>the year is out: <\/strong>Abu Dhabi\u2019s Department of Culture and Tourism (<a target=\"_blank\" href=\"https:\/\/dct.gov.ae\/\" style=\"\" rel=\"noopener\">DCT<\/a>) inked 10 joint marketing campaigns with major travel and tourism companies last week to achieve its target to attract more than <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/tourism\/department-of-culture-and-tourism-abu-dhabi-targets-24-million-visitors-by-2023\/\" style=\"\" rel=\"noopener\">24 mn visitors<\/a> by the end of 2023, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/business\/travel-and-tourism\/abu-dhabi-signs-deals-with-travel-brands-to-meet-24mln-tourists-target-ki8ajijc\" style=\"\" rel=\"noopener\">Zawya<\/a> reports. DCT signed agreements with Kenwood Travel, Trailfinders, Destination2, Voyage Prive and El Corte Ingles, and also extended existing joint agreements with dnata, Expedia, lastminute and Amadeus. Over 10.2 mn passengers have arrived in Abu Dhabi over the first six months of 2023, up from 6.1 mn last year during the same period, according to Zawya.<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87659\" 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=\"87659\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/emirates-stallions-snaps-up-majority-stake-in-labor-provider\/\">\r\n                            Emirates Stallions Group snaps up majority stake in labor provider                        <\/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\/2023\/12\/25\/emirates-stallions-snaps-up-majority-stake-in-labor-provider\/\" 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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ESG subsidiary Centuray Human Resources and Logistics will acquire the stake. The disclosure did not disclose the size or value of the stake. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax:<\/strong> ESG\u2019s shares <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/dubai-up-rate-cut-bets-abu-dhabi-falls-2023-12-22\/#:~:text=However%2C%20Emirates%20Stallions%20Group%20(ESG.AD)%20surged%2014.9%25%2C%20its%20highest%20intraday%20gain%20since%20late%20July%2C%20after%20the%20firm%20acquired%20a%20majority%20stake%20in%20United%20International%20Group.\" style=\"\" rel=\"noopener\">rose 14.9%<\/a> on the ADX after the news landed, its highest intraday gain since late July. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s ESG? <\/strong>Founded in 2008, ESG\u2019s subsidiaries and companies operate in sectors including construction and real estate sectors across MENA, Asia, Europe, and the Americas. IHC owns 85% of the ADX-listed company.<\/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-stallions-group\/\">Emirates Stallions Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/international-holding-company\/\">International Holding Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A 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=\"87661\" 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=\"87661\">\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\">INFRASTRUCTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/taqa-hits-financial-close-on-aed-1-6-bn-desalination-project\/\">\r\n                            TAQA hits financial close on AED 1.6 bn Shuweihat 4 desalination project in the UAE                        <\/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\/2023\/12\/25\/taqa-hits-financial-close-on-aed-1-6-bn-desalination-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\/2023\/12\/25\/taqa-hits-financial-close-on-aed-1-6-bn-desalination-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\/2023\/12\/25\/taqa-hits-financial-close-on-aed-1-6-bn-desalination-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 hits financial close on AED 1.6 bn desalination project&url=https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/taqa-hits-financial-close-on-aed-1-6-bn-desalination-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\/2023\/12\/25\/taqa-hits-financial-close-on-aed-1-6-bn-desalination-project\/&title=TAQA hits financial close on AED 1.6 bn desalination 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+hits+financial+close+on+AED+1.6+bn+desalination+project+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2023%2F12%2F25%2Ftaqa-hits-financial-close-on-aed-1-6-bn-desalination-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\/2023\/12\/25\/taqa-hits-financial-close-on-aed-1-6-bn-desalination-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/4199.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87662\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/taqa-hits-financial-close-on-aed-1-6-bn-desalination-project\/4199-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/4199.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"4199.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/4199.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/4199.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87661\" class=\"content-area-description single-story post-87661 post type-post status-publish format-standard has-post-thumbnail hentry category-infrastructure tag-desalination tag-emirates-water-and-electricity-company tag-enterpriseam-uae tag-gs-inima tag-infrastructure tag-taqa 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\/.5e09585e-6561-4610-9e9f-c50ca1e91db1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Shuweihat 4 Reverse Osmosis Seawater Desalination Project reached <\/strong><strong>financial close<\/strong> with AED 1.6 bn (USD 444 mn) in funding on Friday, according to a <a target=\"_blank\" href=\"https:\/\/www.ewec.ae\/en\/media\/press-release\/taqa-gs-inima-and-ewec-announce-financial-closing-shuweihat-4-reverse-osmosis\" style=\"\" rel=\"noopener\">press release<\/a>. The project is 60-40 owned by <a target=\"_blank\" href=\"https:\/\/www.taqa.com\/\" style=\"\" rel=\"noopener\">Abu Dhabi National Energy Company (TAQA)<\/a> and <a target=\"_blank\" href=\"https:\/\/inima.com\/en\/\" style=\"\" rel=\"noopener\">GS Inima<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s funding:<\/strong> Some 71% of the funding will come in the form of debt financing from local and international banks, including the Abu Dhabi Islamic Bank, Commercial Bank of Dubai, KfW IPEX-Bank GmbH, and the Export-Import Bank of Korea.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About S4 RO: <\/strong>The project in the Shuweihat Power and Water Complex will supply up to 70 mn imperial gallons of potable water per day and is leased to the <a target=\"_blank\" href=\"https:\/\/www.ewec.ae\/en\/home\" style=\"\" rel=\"noopener\">Emirates Water and Electricity Company (EWEC)<\/a> for a 30-year period. Commercial operations are scheduled to begin in 2Q 2026 and will be handled by TAQA and GS Inima.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TAQA <\/strong><strong>\u2764\ufe0f <\/strong><strong>RO:<\/strong> This is TAQA\u2019s second utility-scale reverse osmosis project to reach financial closure this year, coming in after the Mirfa 2 Reverse Osmosis Desalination Plant (M2 RO), which closed in <a target=\"_blank\" href=\"https:\/\/www.taqa.com\/press-releases\/taqa-engie-and-ewec-announce-financial-closing-for-mirfa-2-reverse-osmosis-desalination-plant\/\" style=\"\" rel=\"noopener\">May<\/a> in partnership with France\u2019s <a target=\"_blank\" href=\"https:\/\/www.engie.com\/en\" style=\"\" rel=\"noopener\">Engie<\/a> and EWEC. The ADX-listed international energy and water company plans to up its water generation capacity to 1,250 MIGD by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So does EWEC: <\/strong>The ADQ-owned Abu Dhabi water supplier has participated in six reverse osmosis projects to date and forecasts that 90% of its water production capacity will stem from RO technology by 2030, aligned with Abu Dhabi's clean energy targets and national net zero initiatives.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ENTERPRISE EXPLAINS- Reverse osmosis. <\/strong>It\u2019s a process through which saline water is pushed through a semipermeable membrane, filtering out salts and impurities to produce fresh water. It\u2019s energy-intensive, primarily because it requires high pressure to overcome the natural osmotic pressure and force water through the membrane. How much energy you need goes up with the salinity of the water. RO is one of five commercially used desalination techniques.<\/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\/desalination\/\">desalination<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/emirates-water-and-electricity-company\/\">Emirates Water and Electricity Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gs-inima\/\">GS Inima<\/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\/taqa\/\">Taqa<\/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=\"87663\" 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=\"87663\">\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\">FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/whats-driving-growth-in-islamic-finance\/\">\r\n                            The UAE\u2019s Islamic finance sector grew 11% in 2022, a new central bank report says                        <\/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\/2023\/12\/25\/whats-driving-growth-in-islamic-finance\/\" 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\/2023\/12\/25\/whats-driving-growth-in-islamic-finance\/')\">\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\/2023\/12\/25\/whats-driving-growth-in-islamic-finance\/\">\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=What\u2019s driving growth in Islamic finance?&url=https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/whats-driving-growth-in-islamic-finance\/\">\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\/2023\/12\/25\/whats-driving-growth-in-islamic-finance\/&title=What\u2019s driving growth in Islamic finance?\">\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=What%E2%80%99s+driving+growth+in+Islamic+finance%3F+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2023%2F12%2F25%2Fwhats-driving-growth-in-islamic-finance%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\/2023\/12\/25\/whats-driving-growth-in-islamic-finance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1574.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87664\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/whats-driving-growth-in-islamic-finance\/1574-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1574.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1574.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1574.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1574.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87663\" class=\"content-area-description single-story post-87663 post type-post status-publish format-standard has-post-thumbnail hentry category-finance tag-capital-markets tag-central-bank-of-the-uae tag-enterpriseam-uae tag-finance tag-islamic-finance tag-sukuk wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.5e09585e-6561-4610-9e9f-c50ca1e91db1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The UAE\u2019s Islamic finance sector grew 11% y-o-y to AED 16.5 tn in 2022<\/strong>, according to the Central Bank of the UAE\u2019s recently-issued <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1555.pdf\" style=\"\" rel=\"noopener\">Islamic Finance Report 2023 (pdf)<\/a>. Growth was driven by higher demand for both Islamic banking and sukuk, the report says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Islamic banks are gaining market share \u2014 and so are islamic windows at conventional <\/strong><strong>lenders. <\/strong>In terms of value, standalone Islamic banks dominated the market for Islamic finance, as opposed to Islamic windows, which are departments within conventional banks that provide shariah-compliant services. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> Islamic banking assets amounted to AED 845 bn during the year, constituting 23% of the banking sector\u2019s total assets. Islamic banks made up nearly 75% of the market, with Islamic windows at conventional banks making up the rest. The number of Islamic windows \u2014 which stood at 16 in 2022 \u2014 has grown 49% since 2018, while Islamic banks rose 8% to six, according to the report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The most popular Islamic finance products:<\/strong> Ijara, a lease contract used for fixed assets like homes and equipment, and murabaha, which is a sales-contract-like structure that allows clients to purchase goods at a pre-agreed margin. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Corporates \u2764\ufe0f Islamic finance: <\/strong>Some 43% of Islamic financing providers\u2019 portfolio is made up of financing to the corporate sector, while 35% went to individuals in 2022, according to the report. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Islamic banking deposits saw their highest growth since 2019<\/strong>, according to the report. Also growing: profitsharing investment accounts such as mudharaba (where a bank and the client agree to share net income for a specific period) and wakala (where the bank is appointed as an agent to carry out investments on the client\u2019s behalf).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Three institutions dominated the AED 127 bn market for sukuk issuances in the past five years: <\/strong>The Government of Sharjah, Dubai Islamic Bank, and Abu Dhabi Islamic Bank. Together, the three accounted for 74% of total sukuk issuances in the past five years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>2023 is looking like a stronger year for sukuk: <\/strong>The Emirati market saw some AED 28.7 bn sukuk issuances (c. USD 7.8 bn) over the first six months of 2023, up from the AED 24.6 bn (c. USD 6.7 bn) posted over the entire year of 2022. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Watch this space: <\/strong>The \u201cintroduction of local-currency treasury sukuk by the federal government has the potential to encourage the issuance from other players in the market,\u201d the central bank writes. The AED-denominated treasury sukuk issuance in May was <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2023\/May\/10-05\/UAE-Islamic-Treasury-Sukuk-achieved-bids-worth-More-thank-AE8\" style=\"\" rel=\"noopener\">7.6x oversubscribed<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The government <a target=\"_blank\" href=\"https:\/\/www.moec.gov.ae\/documents\/20121\/0\/DecreeLaw_50_2022_pdf.pdf\/d34d9209-b407-6e73-9acb-3b01522e94e6?t=1673496808487\" style=\"\" rel=\"noopener\">introduced<\/a> a federal law governing commercial transactions, which came into effect on 2 January 2023. The law is the first in the world to address the technological and industrial developments that have affected commercial transactions, including the growing Islamic finance industry. The law sets a governing framework for Islamic finance transactions and sukuk structures such as murabaha, istisna, ijarah, and salam.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The sector is poised to grow to USD 6.7 tn: <\/strong>Having expanded by 163% over the past decade, the industry is expected to maintain its momentum and reach USD 6.7 tn in assets by 2027, according to the Islamic <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1490.pdf\" style=\"\" rel=\"noopener\">Finance Development Indicator (pdf)<\/a> report. The Islamic finance industry is also expected to turn over USD 3 tn between 2023-2024, growing at a rate of 10%, according to <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/en\/research-insights\/articles\/daily-update-may-17-2023#:~:text=for%20steady%20growth.-,Islamic%20finance%2C%20which%20operates%20in%20compliance%20with%20sharia%2C%20or%20Islamic%20law,.,-The%20S%26P\" style=\"\" rel=\"noopener\">S&P Global<\/a>. The industry\u2019s growth in the UAE is expected to be boosted by high oil prices and solid economic conditions, ratings agency Fitch <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/banks\/uae-islamic-banks-supported-by-favourable-operating-conditions-18-05-2023\" style=\"\" rel=\"noopener\">said<\/a> in May.<\/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\/capital-markets\/\">capital markets<\/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\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/islamic-finance\/\">Islamic finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sukuk\/\">Sukuk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87665\" 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=\"87665\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/zeroe-secures-usd-2-2-mn-in-funding-for-decarbonization-expansion\/\">\r\n                            Zeroe obtains USD 2.2 mn in seed funding round led by Indonesian investor Owen Rahadiyan                        <\/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\/2023\/12\/25\/zeroe-secures-usd-2-2-mn-in-funding-for-decarbonization-expansion\/\" 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\/2023\/12\/25\/zeroe-secures-usd-2-2-mn-in-funding-for-decarbonization-expansion\/')\">\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\/2023\/12\/25\/zeroe-secures-usd-2-2-mn-in-funding-for-decarbonization-expansion\/\">\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=Zeroe secures USD 2.2 mn in funding for decarbonization expansion&url=https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/zeroe-secures-usd-2-2-mn-in-funding-for-decarbonization-expansion\/\">\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\/2023\/12\/25\/zeroe-secures-usd-2-2-mn-in-funding-for-decarbonization-expansion\/&title=Zeroe secures USD 2.2 mn in funding for decarbonization expansion\">\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=Zeroe+secures+USD+2.2+mn+in+funding+for+decarbonization+expansion+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2023%2F12%2F25%2Fzeroe-secures-usd-2-2-mn-in-funding-for-decarbonization-expansion%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\/2023\/12\/25\/zeroe-secures-usd-2-2-mn-in-funding-for-decarbonization-expansion\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1570.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87666\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/zeroe-secures-usd-2-2-mn-in-funding-for-decarbonization-expansion\/1570-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1570.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1570.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1570.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1570.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87665\" class=\"content-area-description single-story post-87665 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam-uae tag-startup-watch tag-zeroe 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\/.5e09585e-6561-4610-9e9f-c50ca1e91db1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>UAE-based cleantech startup Zeroe secured USD 2.2 mn in a seed round <\/strong>to expand its growth in the decarbonization industry, according to a <a target=\"_blank\" href=\"https:\/\/zeroe.io\/blog\/zeroe-raises-seedround\" style=\"\" rel=\"noopener\">statement<\/a>. The round was led by Indonesian investor Owen Rahadiyan, who is offering access to significant Southeast Asian growth markets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Zeroe: <\/strong>The company, which was founded earlier this year by Farouk Jivani and Ali Najafian, specializes in a software platform that enables businesses to monitor and report their carbon emissions through an AI-powered carbon management platform. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cThis investment is a testament to our commitment to driving tangible change. We're here to accelerate the enterprise decarbonization journey and unlock climate finance to fund the transition,\u201d Farouk Jivani, founder and CEO of Zeroe said. <\/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\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/zeroe\/\">Zeroe<\/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=\"87667\" 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=\"87667\">\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\">TRENDING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/uae-twitter-is-feeling-the-christmas-spirit\/\">\r\n                            UAE Twitter is feeling the Christmas spirit                        <\/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\/2023\/12\/25\/uae-twitter-is-feeling-the-christmas-spirit\/\" 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\/2023\/12\/25\/uae-twitter-is-feeling-the-christmas-spirit\/')\">\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\/2023\/12\/25\/uae-twitter-is-feeling-the-christmas-spirit\/\">\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=UAE Twitter is feeling the Christmas spirit&url=https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/uae-twitter-is-feeling-the-christmas-spirit\/\">\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\/2023\/12\/25\/uae-twitter-is-feeling-the-christmas-spirit\/&title=UAE Twitter is feeling the Christmas spirit\">\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=UAE+Twitter+is+feeling+the+Christmas+spirit+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2023%2F12%2F25%2Fuae-twitter-is-feeling-the-christmas-spirit%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\/2023\/12\/25\/uae-twitter-is-feeling-the-christmas-spirit\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/387.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87668\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/uae-twitter-is-feeling-the-christmas-spirit\/387-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/387.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"387.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/387.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/387.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87667\" class=\"content-area-description single-story post-87667 post type-post status-publish format-standard has-post-thumbnail hentry category-trending tag-christmas tag-enterpriseam-uae 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\/.5e09585e-6561-4610-9e9f-c50ca1e91db1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE <\/strong><strong>Twitter<\/strong><strong> X is feeling festive: <\/strong>X users in the UAE are feeling the # <a target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=Christmas&src=trend_click&vertical=trends\" style=\"\" rel=\"noopener\">Christmas<\/a> spirit, with hashtag <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=95b6c7ab1b&e=8e5fca127e\" style=\"\" rel=\"noopener\">#\u062e\u0627\u0644\u062f \u0639\u064a\u0633\u0649<\/a> trending. The Al Ain FC goalkeeper, Khalid Eissa, also got a lot of attention for the second consecutive week after another impressive performance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sterling did not live up to his namesake:<\/strong> Chelsea fans in the UAE were angry after Raheem # <a target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=Sterling&src=trend_click&vertical=trends\" style=\"\" rel=\"noopener\">Sterling<\/a> missed a chance. Some fans turned their ire at # <a target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%D8%AA%D8%B4%D9%8A%D9%84%D8%B3%D9%8A&src=trend_click&vertical=trends\" style=\"\" rel=\"noopener\">\u062a\u0634\u064a\u0644\u0633\u064a<\/a> (Chelsea) towards coach # <a target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=Poch&src=trend_click&vertical=trends\" style=\"\" rel=\"noopener\">Poch<\/a> (Mauricio Pochettino), with some calling for his dismissal. <\/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\/christmas\/\">Christmas<\/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=\"87669\" 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             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     <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=\"87670\" 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=\"87670\">\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\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/uae-in-the-news-on-25-december-2023\/\">\r\n                            UAE in the News on 25 December 2023                        <\/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\/2023\/12\/25\/uae-in-the-news-on-25-december-2023\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            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                 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\/2023\/12\/25\/uae-in-the-news-on-25-december-2023\/&title=UAE in the News on 25 December 2023\">\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=UAE+in+the+News+on+25+December+2023+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2023%2F12%2F25%2Fuae-in-the-news-on-25-december-2023%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\/2023\/12\/25\/uae-in-the-news-on-25-december-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1449.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87671\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/uae-in-the-news-on-25-december-2023\/1449-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1449.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1449.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1449.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1449.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87670\" class=\"content-area-description single-story post-87670 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-brooge-energy tag-enterpriseam-uae tag-freshfields tag-kpmg tag-saudi-arabia tag-uae-in-the-news 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\/.5e09585e-6561-4610-9e9f-c50ca1e91db1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have a mixed bag of business stories leading the conversation<\/strong> on the UAE in the international press this morning, although none of the three is dominating coverage. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi fund to sell off Emirati energy holding company: <\/strong>Fujairah-based Brooge Petroleum and Gas Investment Company (BPGIC Holdings), holding company of Nasdaq-listed <a target=\"_blank\" href=\"https:\/\/broogeenergy.com\/\" style=\"\" rel=\"noopener\">Brooge Energy<\/a>, is being liquidated by a Saudi Arabia-backed investment fund over trouble with its financial statements and unpaid debt, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/23176157-c103-450d-be61-eb16b5ca77dd\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. The liquidation comes after the US Securities and Exchange Commission (SEC) handed Brooge Energy a USD 5 mn fine to settle charges of committing fraud by providing auditors with false financial filings about its revenue, according to an SEC <a target=\"_blank\" href=\"https:\/\/www.sec.gov\/news\/press-release\/2023-256\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KPMG Dubai partners are throwing allegations of bias and lack of transparency at Freshfields <\/strong>after Freshfields published a review detailing alleged misconduct at the global advisory network\u2019s office in Dubai.KPMG board members accused the multinational law firm of being biased and failing to keep them informed during its investigation while omitting disclosure of Freshfields\u2019 recommendations, according to the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/22542bb2-1d60-444e-b622-c2670caa3633\" style=\"\" rel=\"noopener\">Financial Times<\/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\/brooge-energy\/\">Brooge Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/freshfields\/\">Freshfields<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/kpmg\/\">KPMG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-in-the-news\/\">UAE IN THE NEWS<\/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=\"87672\" 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=\"87672\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/investcorp-consolidation-ihcs-palm-sports-snags-two-govt-contracts-cbuaes-cash-deposits-rise-to-aed-687-2-bn-in-october\/\">\r\n                            Investcorp consolidation + IHC\u2019s Palm Sports snags two gov\u2019t contracts + CBUAE\u2019s cash deposits rise to AED 687.2 bn in October                        <\/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\/2023\/12\/25\/investcorp-consolidation-ihcs-palm-sports-snags-two-govt-contracts-cbuaes-cash-deposits-rise-to-aed-687-2-bn-in-october\/\" 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photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1585.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87673\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/investcorp-consolidation-ihcs-palm-sports-snags-two-govt-contracts-cbuaes-cash-deposits-rise-to-aed-687-2-bn-in-october\/1585-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1585.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1585.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1585.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1585.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87672\" class=\"content-area-description single-story post-87672 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-central-bank-of-the-uae tag-enterpriseam-uae tag-investcorp tag-palm-sports 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\/.5e09585e-6561-4610-9e9f-c50ca1e91db1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CAPITAL MARKETS-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Investcorp ups its stake in Investcorp Capital:<\/strong> Bahrain-based <a target=\"_blank\" href=\"https:\/\/www.investcorp.com\/\" style=\"\" rel=\"noopener\">Investcorp<\/a> increased its stake in its asset management vehicle, ADX-listed Investcorp Capital, according to an ADX <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1553.pdf\" style=\"\" rel=\"noopener\">disclosure<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1553.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. The parent company transferred the ownership of over 93.91 mn shares in Investcorp Capital through a stabilizing agent it had appointed ahead of its IPO, the disclosure said. The consolidation of the shares raised Investcorp\u2019s stake in the company to 71.4%, up from the 70.66% stake it held following Investcorp Capital\u2019s IPO on the ADX.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Arqaam oversaw the consolidation:<\/strong> The consolidation of the stabilization shares was facilitated by emerging markets investment bank Arqaam Capital a day after Investcorp Capital <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=591708ccb6&e=8e5fca127e\" style=\"\" rel=\"noopener\">appointed<\/a> Arqaam to serve as its advisor and market maker. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI<\/strong>: Bahrain-based firm Investcorp successfully debuted on the ADX on 17 November, raising some AED 1.66 bn (USD 450 mn) with a market cap of AED 5.04 bn (USD 1.37 bn). The IPO was described as \u201clackluster\u201d and \u201cmuted\u201d by <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-17\/investcorp-has-muted-debut-after-451-million-abu-dhabi-ipo\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, after its shares fell flat on their first day of trading, despite being at the top of the IPO price range and being upsized by 12%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- ADX-listed Jiu-Jitsu company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.palmssports.com\/\" style=\"\" rel=\"noopener\">Palm Sports<\/a><\/strong><strong>, an IHC subsidiary, secured two AED <\/strong><strong>76 mn government contracts<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/adxservices.adx.ae\/cdn\/contentdownload.aspx?doc=3018019\" style=\"\" rel=\"noopener\">bourse filing<\/a>. The first contract valued at AED 62.8 mn, will see the renewal of Palms Sports over the span of four years deploying 108 trainers and supervisors to enhance the fitness of 45k participants within an unspecified government entity, the statement reads. The second contract, valued at AED 13.2 mn, involves supplying 50 specialized trainers in tactical defense and close combat for a one-year term. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TAX-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sharjah Finance Department inked MoU with the Federal Tax Authority to promote <\/strong><strong>information disclosure,<\/strong> developing a framework for disclosure clarity and accuracy, reports <a target=\"_blank\" href=\"https:\/\/www.sharjah24.ae\/en\/Articles\/2023\/12\/21\/Sharjah-Finance-Department-signs-MoU-with-FTA\" style=\"\" rel=\"noopener\">Sharjah 24<\/a>. The agreement exempts data exchange between taxpayers or undisclosed tax amounts including statistics on administrative fines, without authority board approval. They also established guidelines for secure data storage when businesses need to retain traded information.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TRANSPORT-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai's Roads and Transport Authority (RTA) plans to roll <\/strong><strong>out 762 new public bus shelters by 2025,<\/strong> reports <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/12mocg4-rta-construct-762-bus-shelters-key-dubai-areas\" style=\"\" rel=\"noopener\">Wam<\/a>. Construction will take priority in the Emirate\u2019s most densely populated areas. The stops will be grouped under the following four tiers according to the number of visitors they can house per day: Main stop (750), secondary stop (250-750), primary stop (100-250), and pick-up\/drop-off station (up to 100).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ECONOMY-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Central Bank of the UAE (CBUAE) reported a 10.2% y-o-y increase in cash <\/strong><strong>deposits<\/strong>, reaching AED 687.2 bn by the end of October, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/aq8dqkv-central-bank-reports-10-growth-cash-deposits\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The CBUAE\u2019s cash aggregates statistics indicate a m-om increase of 0.2%, equivalent to AED 1.3 bn from AED 685.9 bn in September 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Quasi-cash deposits rose to AED 1.123 tn in October, <\/strong>a 24% y-o-y increase from AED 906.3 bn in October 2022. On a monthly basis, quasi-cash deposits saw a 0.93% uptick, from AED 1.1 tn reported in September 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FINANCE- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Manufacturers can access financing solutions through the Abu Dhabi Department of Economic Development\u2019s (ADDED) new <\/strong><strong>Business Financing Facilitation Platform<\/strong>, according to an Abu Dhabi Media Office <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/economy\/abu-dhabi-department-of-economic-development-launches-business-financing-facilitation-platform\/\" style=\"\" rel=\"noopener\">statement<\/a>. The platform, designed by ADDED\u2019s Industrial Development Bureau, allows investors to select personalized services and products from a diverse array of financial and banking partners, with a view to making financial processes more efficient. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REGULATION-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The government issued a new federal law on mental health, regulating relations <\/strong><strong>between psychiatric patients and mental health professionals<\/strong>, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/aq8dqhz-uae-government-issues-federal-decree-mental\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The decree extends to all national mental health facilities, including those in freezones. Accompanying monitoring committees have been established across each emirate to supervise and provide reports on facilities\u2019 compliance with regulations. Fines of up to AED 200k will be applied for violations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The decree outlines psychiatric patients\u2019 rights, with the guidelines preserving job rights against exploitation, prohibiting mental health services without patient permission, and promoting patient information confidentiality. The decree pays attention to minors, highlighting their right to education and introducing age-specific health safeguards for facilities. Facility guidelines for patient admission and discharge are also included.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- New policy for marine life protection<\/strong>: Head of the <a target=\"_blank\" href=\"https:\/\/www.ead.gov.ae\/en\" style=\"\" rel=\"noopener\">Abu Dhabi Environment Agency<\/a> (<a target=\"_blank\" href=\"https:\/\/www.ead.gov.ae\/en\" style=\"\" rel=\"noopener\">EAD<\/a>) Sheikh Hamdan bin Zayed Al Nahyan has issued a regulation aimed at addressing the threat posed by invasive marine species to the Emirate's biodiversity, according to a <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/environment\/in-his-capacity-as-chairman-of-environment-agency-abu-dhabi-hamdan-bin-zayed-issues-resolution-on-policy-of-invasive-marine-species\/\" style=\"\" rel=\"noopener\">statement<\/a> from the Abu Dhabi Media Office. The five-year policy presents a strategy to be implemented emirate-wide to control the spread of invasive marine species. Under the policy, EAD will cooperate with relevant authorities to enforce the tools stipulated in the strategy in accordance with a defined timeline.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REAL ESTATE-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Deyaar Development and Arady Properties partner for Al Reem Island <\/strong><strong>development:<\/strong> Dubai-based real estate developer Deyaar Development inked an MoU with Arady Properties, a real estate company based in Abu Dhabi, to collaborate on a development on Al Reem Island in Abu Dhabi, according to a <a target=\"_blank\" href=\"https:\/\/www.dfm.ae\/the-exchange\/news-disclosures\/disclosures\/eb50fb1e-09eb-48e2-9f33-30ebc65d3c68\" style=\"\" rel=\"noopener\">DFM disclosure<\/a>. The MoU Outlines the project\u2019s commercial goals, establishes a framework for ongoing negotiations between the two companies, and explores \u201chow the project can be developed on a joint ownership basis.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TECH- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AI-powered healthcare? <\/strong><a target=\"_blank\" href=\"https:\/\/mbzuai.ac.ae\/\" style=\"\" rel=\"noopener\">Mohamed bin Zayed University of Artificial Intelligence<\/a><a target=\"_blank\" href=\"https:\/\/mbzuai.ac.ae\/\" style=\"\" rel=\"noopener\">(MBZUAI)<\/a> and <a target=\"_blank\" href=\"https:\/\/www.alsaqergroup.com\/\" style=\"\" rel=\"noopener\">United Al-Saqer Group<\/a> inked a research endowment agreement on Friday that will see the conglomerate fund health research projects at MBZUAI for the next ten years, reports <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/aq9klgn-mbzuai-united-al-saqer-group-sign-research\" style=\"\" rel=\"noopener\">Wam<\/a>. The research will investigate leveraging AI to address the spread of diseases, early cardio and fetal abnormalities detection, and remote patient monitoring.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MBZUAI likes AI for healthcare: <\/strong>The Abu Dhabi-based research institute partnered with recent ADX joiner <a target=\"_blank\" href=\"https:\/\/purehealth.ae\/\" style=\"\" rel=\"noopener\">PureHealth<\/a> in <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/health\/purehealth-collaborates-with-mohamed-bin-zayed-university-of-artificial-intelligence-to-advance-the-science-of-longevity\/\" style=\"\" rel=\"noopener\">November<\/a> to explore AI use in medical data analysis, diagnosis, and treatment. MBZUAI researchers are also working to develop an AI-based longevity score, dubbed PureScore, providing a holistic view of individuals\u2019 health for PureHealth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ENERGY- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EWEC + Energy Exemplar to cooperate on energy modeling:<\/strong> Emirates Water and Electricity Company (<a target=\"_blank\" href=\"http:\/\/www.ewec.ae\/en\/home\" style=\"\" rel=\"noopener\">EWEC<\/a>) inked an MoU with energy market software developer Energy Exemplar. Under the agreement, EWEC will use Energy Examplar\u2019s cloud-based technology to improve its energy modeling and forecasting, according to a <a target=\"_blank\" href=\"https:\/\/www.energyexemplar.com\/blog\/news\/ewec-expands-advanced-energy-modelling-and-forecasting-capacity?utm_campaign=Global%20-%20PR%20-%20News&utm_content=276238160&utm_medium=social&utm_source=twitter&hss_channel=tw-562578238\" 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>Sound smart- Energy modeling is a multipurpose computer tool <\/strong>that uses computer simulations to estimate and predict the energy consumption of a building or complex. It allows businesses and individuals to assess and optimize their energy consumption and carbon footprints. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AVIATION-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Etihad Airways + China Eastern Airlines ink a MoU to boost commercial and <\/strong><strong>operational cooperation<\/strong>, according to the company <a target=\"_blank\" href=\"https:\/\/www.etihad.com\/en-pt\/news\/etihad-airways-and-china-eastern-airlines-strengthen-strategic-cooperation\" style=\"\" rel=\"noopener\">statement<\/a>.The partnership aims to offer travelers more options, better services, and added value, while supporting sustainable aviation. The agreement is set to introduce codeshare, loyalty programmes, cargo transport, maintenance, repair and overhaul, ground handling, catering, lounge access, staff training, and various sustainability initiatives. The MoU aims to advance China Eastern's goal to commence services in Abu Dhabi. <\/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\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/central-bank-of-the-uae\/\">Central Bank of the UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investcorp\/\">Investcorp<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/palm-sports\/\">Palm Sports<\/a>\n             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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87675\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/cryptobros-are-savoring-their-comeback-and-looking-forward-to-more-in-24\/1614-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1614.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1614.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1614.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1614.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87674\" class=\"content-area-description single-story post-87674 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-cryptocurrency 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\/.5e09585e-6561-4610-9e9f-c50ca1e91db1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Crypto is having a moment in the financial press <\/strong>as journalists take stock of the segment\u2019s turnaround in 2023, with BTC soaring over 160% this year despite back-to-back legal scandals ranging from FTX\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/news\/story\/1f899c6c-12fb-4e3d-93d2-4da3fa462a01\/\" style=\"\" rel=\"noopener\">Sam Bankman-Fried<\/a> after being found guilty of criminal fraud and Binance\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/news\/story\/23f319e6-fa3c-4931-b7cb-560bd0a2f564\/\" style=\"\" rel=\"noopener\">Changpeng Zhao<\/a> facing money-laundering charges. \u201cIt was the year of crypto\u2019s resiliency,\u201d global advisory StonTurn crypto expert Kyla Curley told <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2023\/12\/24\/tech\/crypto-2023-bitcoin-sbf\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We could be looking at another solid year for crypto: <\/strong>The <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2023\/12\/04\/investing\/bitcoin-price-rally-spot-etf\/index.html\" style=\"\" rel=\"noopener\">anticipated approval<\/a> of the first-ever <a target=\"_blank\" href=\"https:\/\/enterprise.news\/news\/story\/c0ed1265-8dcf-49d6-982f-ae189aa63174\/\" style=\"\" rel=\"noopener\">spot BTC exchange-traded fund<\/a> early 2024 is expected to further cement market sentiment, allowing traditional investors to track BTC prices without owning it and making crypto more accessible to mainstream investors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Markets outside North America and Western Europe are shrugging off their suspicion <\/strong><strong>of the asset class: <\/strong>Emirati crypto firm <a target=\"_blank\" href=\"https:\/\/phoenixgroupuae.com\/\" style=\"\" rel=\"noopener\">Phoenix<\/a> made its ADX debut earlier this month, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-05\/crypto-firm-phoenix-jumps-50-after-371-million-abu-dhabi-ipo\" style=\"\" rel=\"noopener\">soaring 35%<\/a> on its first day trading. Turkey and Nigeria both took steps signaling that they have started taking crypto more seriously: Turkey has <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-23\/erdogan-hires-a-crypto-asset-lecturer-to-the-central-bank-s-rate-setting-board?srnd=economics-central-banks\" style=\"\" rel=\"noopener\">added a crypto expert<\/a> to its central bank\u2019s Monetary Policy Committee and the Nigerian central bank <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/nigerian-central-bank-lifts-ban-crypto-trading-2023-12-23\/\" style=\"\" rel=\"noopener\">lifted<\/a> a two-year ban on crypto trading. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some go so far as to suggest that investors in emerging markets have helped fuel <\/strong><strong>crypto\u2019s recover this year<\/strong>, with a blogger on the <a target=\"_blank\" href=\"https:\/\/www.forbes.com\/sites\/digital-assets\/2023\/12\/24\/bitcoins-rise-as-financial-game-changer-in-emerging-markets\/?sh=3b9088ed537c\" style=\"\" rel=\"noopener\">Forbes<\/a> contributor platform claiming folks in markets with unstable local currencies are turning to crypto as a hedge against inflation and depreciation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Crypto firms are trying to buy Washington\u2019s approval: <\/strong>Crypto firms are increasing donations to US politicians to help elect pro-crypto legislators and forward favorable legislation for the industry, as the digital assets market falls under increased scrutiny, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b8c081d2-2613-4199-8579-120e313626d6\" style=\"\" rel=\"noopener\">Financial Times<\/a> wrote. Crypto outfits including Coinbase and Circle as well as venture capital firm Andreessen Horowitz have donated some USD 78 mn to a political action committee that takes donations to spend on elections to be directed to \u201cpro-crypto leadership.\u201d<\/p>\n<p><a target=\"_blank\" id=\"t.107f3d28fc8627bcc60e5316e3b8cef13f36995a\" 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-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,490<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +7.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,023<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +20.6%)<\/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\">3,777<\/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: -5.8%)<\/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-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.1% 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\">5.3% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,691<\/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: +11.6%)<\/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>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">23,822<\/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\">-2.0% (YTD: +63.2%)<\/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>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\">4,755<\/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: +23.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,698<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +3.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,521<\/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: +19.2%)<\/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 79.1<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.61<\/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>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 2,069<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 43,556<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: +163.5%)<\/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 ADX remained stable on Friday<\/strong>on turnover of AED 1.04 bn. The index is up 7.1% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong> ESG Emirates Stallions (+14.9%), Sudatel Telecommunications Group (+14.9%) and Gulf Cement (+5.7%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Union Ins. (-7.7%), Chimera S&P China HK Shariah ETF (-4.9%) and Hayah Ins. Company (-4.8%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The DFM<\/strong> r<strong>ose 0.4% on Friday<\/strong>on turnover of AED 139.89 mn. The index is up 20.6% 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\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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=\"87676\" 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=\"87676\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/uae-mauritius-ink-cepa-foreign-ministry-condemns-prague-shooting\/\">\r\n                            UAE, Mauritius ink CEPA + Foreign Ministry condemns Prague shooting                        <\/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\/2023\/12\/25\/uae-mauritius-ink-cepa-foreign-ministry-condemns-prague-shooting\/\" 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 aims to foster increased trade and investment flows, as well as enhance private-sector collaboration between the two nations. Non-oil bilateral trade between the UAE and Mauritius amounted to USD 63.1 mn in 1H 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Foreign Affairs Ministry <\/strong><strong><a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/aq9klmf-uae-strongly-condemns-shooting-prague-university\" style=\"\" rel=\"noopener\">condemned<\/a><\/strong><strong> the mass shooting at Prague\u2019s Charles <\/strong><strong>University<\/strong> and Minister Abdullah bin Zayed Al Nahyan also <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/aq9klv3-abdullah-bin-zayed-condoles-czech-minister-foreign\" style=\"\" rel=\"noopener\">phoned his Czech Republic counterpart<\/a>, Jan Lipavsk\u00fd, to offer condolences. The Director-General of Umm Al Quwain Municipality, Ahmed Ibrahim Obaid Ali Al Ali, and his wife were injured in the incident, reports <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/aq9km0o-hamdan-bin-mohammed-phones-emirati-couple-injured\" style=\"\" rel=\"noopener\">Wam<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aid sent to South Sudan:<\/strong> The government, alongside the World Food Programme, sent 100 tonnes of food supplies and medical services to refugees in South Sudan, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/aq9klv1-uae-provides-100-tonnes-food-supplies-through\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Since the beginning of the war in Sudan, the UAE has \u201cprovided 8,810 tonnes of food and medical supplies through the operation of 133 relief planes, in addition to dispatching a ship carrying approximately 1k tonnes of urgent relief supplies,\u201d said the assistant Minister of Foreign Affairs for International Development affairs Sultan Al Shamsi.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US lawmakers <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.middleeasteye.net\/news\/us-lawmakers-urge-uae-end-support-rsf-sudan\" style=\"\" rel=\"noopener\">expressed<\/a><\/strong><strong> \u201cgrave concern\u201d over claims that the UAE is backing Sudan\u2019s Rapid Support Forces (RSF).<\/strong> The letter comes after Sudan <a target=\"_blank\" href=\"https:\/\/www.middleeasteye.net\/news\/sudan-uae-orders-expulsion-diplomats\" style=\"\" rel=\"noopener\">expelled 15 Emirati diplomats<\/a> earlier this month over allegations of UAE support for the RSF. <\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-mauritius-ties\/\">UAE-Mauritius ties<\/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=\"87678\" 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\/2023\/12\/25\/87678-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87678\" class=\"content-area-description single-story post-87678 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\">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;\">8-31 December: Abu Dhabi MOTN Entertainment Festival<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">31 December (Sunday): RAK NYE Festival, Al Marjan Island.<\/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;\">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;\">1 January (Monday): New years 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;\">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;\">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;\">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>MasterCard sees higher consumer spending | TAQA hits financial close on S4 RO| Zeroe gets USD 2.2 mn seed<\/p>\n","protected":false},"featured_media":87652,"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-87651","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"53284351-d189-4051-ab8e-4a938c99239f","teaser":"MasterCard sees higher consumer spending | TAQA hits financial close on S4 RO| Zeroe gets USD 2.2 mn 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