{"id":87940,"date":"2024-01-15T00:00:00","date_gmt":"2024-01-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=87940"},"modified":"2025-12-14T23:11:12","modified_gmt":"2025-12-14T23:11:12","slug":"its-a-big-morning-for-ma-news-particularly-in-the-healthcare-sector","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/its-a-big-morning-for-ma-news-particularly-in-the-healthcare-sector\/","title":{"rendered":"It\u2019s a big morning for M&#038;A news, particularly in the healthcare sector"},"content":{"rendered":"<section id=\"87942\" 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=\"87942\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/its-issue-001-of-enterpriseam-uae\/\">\r\n                            It\u2019s issue #001 of EnterpriseAM 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\/2024\/01\/15\/its-issue-001-of-enterpriseam-uae\/\" 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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They all share three characteristics: They are ambitious, they are curious about the world around them, and they want to make a difference. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re honored to be launching in partnership with our friends at Mashreq<\/strong>, a UAE-born multinational champion that for more than five decades has helped individual and corporate clients alike take charge of their financial futures. One of the UAE\u2019s best-performing banks, Mashreq\u2019s growing footprint spans the Middle East and North Africa with a strong presence in the financial capitals of the world, including in Europe, Asia, Africa, and the United States.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mashreq combines the entrepreneurial spirit of Dubai with enduring trade banking <\/strong><strong>relationships across the region. <\/strong>It\u2019s that same spirit and view of an interconnected region that saw us bring Enterprise to life back in 2014. We owe a deep debt of <strong>gratitude to Mashreq Group CEO Ahmed Abdelaal and his team<\/strong> for making this possible. We are honored to count them among our friends.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM UAE is a daily subscription-only report delivered at 7am UAE \/ 6am KSA \/ <\/strong><strong>7am Egypt. <\/strong>For nearly 10 years, we\u2019ve been trusted by C-suite executives, directors, fund and portfolio managers, entrepreneurs, senior managers, non-execs, investment relations officers, researchers, analysts, and diplomats around the world <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to pitch us on a story or interview, meet for coffee, or otherwise get to know us <\/strong><strong>better? <\/strong>Email <a target=\"_blank\" href=\"mailto:uae@enterprise.news\" style=\"\" rel=\"noopener\">uae@enterprise.news<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded today\u2019s issue? <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/user\/NewsLetters\" style=\"\" rel=\"noopener\">Tap or click here to subscribe<\/a><\/strong>and get your own copy in your inbox each day. <\/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:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">Or head to our website<\/a><\/strong>to check out back issues, previous coverage, or explore our other reports across the MENA region. <\/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\"><a id=\"wwtt2\"><\/a> <strong>THE US ELECTION IS OFFICIALLY UPON US- Candidates for the Republican <\/strong><strong>presidential nomination are urging supporters to turn out <\/strong><strong>for the party\u2019s first nominating contest today despite bone-chilling cold <\/strong>as an Arctic front moves across the United States, with some 110 mn people under wind-chill warnings this morning. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Iowa caucuses are the first party-level contests<\/strong> that will determine the two candidates who face off in the fall election.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The real race is to see who is going to come in second: <\/strong>Former President Donald Trump looks set to come out on top in the caucuses, with a key poll on Saturday night giving him the support of 48% of all caucus-goers. Former diplomat Nikki Haley is second with 20%, edging out Florida Governor Ron Desantis with 16%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The news is everywhere in the global business press<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1ffccb76-f28c-4f18-a1bb-9bcd54b43317\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/elections\/iowa-caucus-republican-candidates-campaign-13a7fff8\" style=\"\" rel=\"noopener\">WSJ<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/republicans-battle-cold-iowa-with-big-poll-setting-tone-2024-01-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | Bloomberg). Follow <a target=\"_blank\" href=\"https:\/\/www.politico.com\/\" style=\"\" rel=\"noopener\">Politico<\/a>, <a target=\"_blank\" href=\"https:\/\/www.axios.com\/\" style=\"\" rel=\"noopener\">Axios<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/01\/14\/us\/presidential-election-iowa-caucus\" style=\"\" rel=\"noopener\">New York Times\u2019 liveblog<\/a> for daylong coverage if that\u2019s your thing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart:<\/strong> Pundits think that while Trump will take Iowa, Haley is showing momentum and could put in a <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/elections\/iowa-caucus-republican-candidates-campaign-13a7fff8\" style=\"\" rel=\"noopener\">strong showing in New Hampshire<\/a>, where the Republican primary takes place on 23 January. It\u2019s an open question, though, <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/30e759e8-e2c9-41ff-a9ba-0ff401a04107\" style=\"\" rel=\"noopener\">whether any Republican challenger has what it takes to beat Trump<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/container-rates-soar-concerns-prolonged-red-sea-disruption-2024-01-12\/\" style=\"\" rel=\"noopener\">Ikea, Volvo<\/a><\/strong><strong>, and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/technology\/2024\/jan\/12\/tesla-pauses-german-production-because-of-red-sea-shipping-attacks\" style=\"\" rel=\"noopener\">Tesla<\/a><\/strong><strong> are among the European manufacturers forecasting <\/strong><strong>shortages of goods <\/strong>amid the ongoing disruption of shipping through the Red Sea.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- <\/strong>Six pro-Palestinian activists have been arrested in the UK after <strong>plotting to disrupt <\/strong><strong>trading at the London Stock Exchange<\/strong>, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ce0b50bd-01ff-4f4b-b6ad-05a4455c5911\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports.<\/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\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>It\u2019s day one of Davos:<\/strong>The <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2024\/\" style=\"\" rel=\"noopener\">World Economic Forum<\/a> (WEF) kicks off today and runs until 19 January in Switzerland under the theme \u201crebuilding trust.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE is heading to Davos in force: <\/strong>Over 100 Emirati personalities, 80% of whom are from major national companies and the private sector, will participate in the forum. They will join international heavyweights from politics, business and civil society. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This year\u2019s theme is \u201crebuilding trust.\u201d<\/strong> The official launch is today, but the heavier sessions will get properly underway starting tomorrow through Friday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You can check out the forum\u2019s official teaser agenda <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.weforum.org\/agenda\/2023\/12\/davos-2024-what-to-expect-and-whos-coming\/\" style=\"\" rel=\"noopener\">here<\/a><\/strong><strong>.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>MEANWHILE- Investors have until Wednesday to subscribe to Lunate\u2019s India ETF<\/strong>, the GCC\u2019s first exchange-traded fund (ETF) tracking Indian stocks. Buyers can place orders through the ADX <a target=\"_blank\" href=\"https:\/\/www.adx.ae\/English\/Pages\/ProductsandServices\/ipo.aspx#:~:text=eIPO%20Investor%20Portal%20provides%20an,in%20the%20IPO%20from%20eIPO\" style=\"\" rel=\"noopener\">eIPO portal<\/a> or via authorized participants, Lunate Capital said in a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/chimera-capital-holding_india-etf-adx-activity-7151617380996018176-Q-Y0?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">statement<\/a>. The asset manager kicked off the subscription period on Friday and is set to debut the ETF on the ADX on 26 January. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the ETF: <\/strong>Lunate\u2019s Chimera S&P India Shariah ETF will track the performance of Shariah-compliant equities listed on the Bombay Stock Exchange. The fund comes after <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/indias-nifty-set-scale-new-highs-final-session-2023-2023-12-29\/#:~:text=The%20Nifty%20has%20jumped%20over,growth%20and%20steady%20corporate%20earnings.\" style=\"\" rel=\"noopener\">Indian stocks rallied<\/a> in 2023 on the back of stronger than expected economic growth, solid company earnings, domestic mutual fund inflows and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/foreign-investors-rush-into-indian-stocks-locals-lie-low-2023-09-06\/\" style=\"\" rel=\"noopener\">lackluster growth in China<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MORNING MUST READ- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>Execs in the UAE and Saudi Arabia are concerned about how they and their companies <\/strong><strong>will both keep up with rapid technological change<\/strong>, but 80% of them are optimistic about how their companies will fare this year and 85% have confidence in the economies in which they do business, according to the 2024 AlixPartners\u2019 Disruption Index.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The regional carve-out from the 11-country survey includes 50 UAE and 50 Saudi execs<\/strong>, according to the report (<a target=\"_blank\" href=\"https:\/\/www.alixpartners.com\/media\/p02h2gzy\/2024-alixpartners-disruption-index.pdf\" style=\"\" rel=\"noopener\">pdf<\/a> | <a target=\"_blank\" href=\"https:\/\/disruption.alixpartners.com\/\" style=\"\" rel=\"noopener\">website<\/a>). The report surveyed 3k execs, half of them members of the C-suite and half of them working at companies worth USD 1 bn or more, in 10 industries ranging from automotive and energy to financial services, healthcare, technology, and telecoms. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some 90% of regional execs surveyed say they thrive on disruption<\/strong>, well ahead of the 75% who said the same globally, according to <a target=\"_blank\" href=\"https:\/\/www.arabianbusiness.com\/jobs\/uae-and-saudi-bosses-optimistic-for-year-ahead-but-think-worker-skills-are-obsolete-survey\" style=\"\" rel=\"noopener\">Arabian Business<\/a>, which spoke with AlixPartners\u2019 Middle East chief, Gabriel Chahine.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CEOs in the region and around the world are most concerned about the pace of tech <\/strong><strong>change <\/strong>as generative AI becomes a factor in more businesses. While most respondents say their boards and shareholders are responsive to the need to change business models:<\/p>\n<ul>\n<li>85% fear change is making staff skills obsolete;<\/li>\n<li>80% say staff are not open to change;<\/li>\n<li>59% globally say they\u2019re worried they\u2019re \u201cpersonally falling behind the knowledge and skills curve\u201d;<\/li>\n<li>and 63% worry their companies will struggle to keep up with the pace of technological change.<\/li>\n<\/ul>\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=\"wwtt4\"><\/a> <strong>#1- You have until Thursday, 18 January to nominate someone for the Sharjah <\/strong><strong>Entrepreneurship Festival\u2019s 2024 Seffy Awards<\/strong>, which recognize impactful startup founders and mentors, state news agency <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/13p98h0-sharjah-entrepreneurship-festival-opens\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <a target=\"_blank\" href=\"https:\/\/share.hsforms.com\/1N6JaWaNbSJOvQsSmuOoCYgdeq0g\" style=\"\" rel=\"noopener\">Tap or click here to submit you nomination<\/a>. Results will be out on 3 and 4 February. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Temperatures will drop to 12\u00baC overnight in Ras Al Khaimah and Al Ain this <\/strong><strong>week, <\/strong>accompanied by mist and fog, reports <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/uae\/2024\/01\/14\/uae-weather-cool-week-ahead-as-temperatures-drop-to-12c\/\" style=\"\" rel=\"noopener\">the National<\/a>. You can keep your shades on this morning, however, thanks to a sunny forecast and warm temperatures, peaking at 27\u00baC. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Avoid Sheikh Rashid Bin Saeed Street in Abu Dhabi<\/strong>, which is partially closed until 15 January, reports <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/uae\/uae-traffic-alert-partial-closure-announced-on-major-road-from-jan-13-15\" style=\"\" rel=\"noopener\">Khaleej Times<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4-<\/strong><strong>Single-use plastic bags are now banned in Ajman's shopping malls<\/strong> and retail outlets, the <a target=\"_blank\" href=\"https:\/\/twitter.com\/AjmanMun\/status\/1746081533864141202\" style=\"\" rel=\"noopener\">Ajman Municipality<\/a> said on X. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Sheikh Zayed Road neighborhood is now Burj Khalifa: <\/strong>The <a target=\"_blank\" href=\"https:\/\/dubailand.gov.ae\/en\/#\/\" style=\"\" rel=\"noopener\">Dubai Land Department<\/a> revealed the new names for 28 areas in the city yesterday, including changing the Sheikh Zayed Road neighborhood to Burj Khalifa and Jebel Ali Village to Jebel Ali First. You can check out the full list of the name changes <a target=\"_blank\" href=\"https:\/\/dubailand.gov.ae\/en\/eservices\/old-and-new-area-names\/old-and-new-area-names-list\/#\/\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- We\u2019re 100 days away from the Emirates Drug Establishment taking on further form. <\/strong>The board of the <a target=\"_blank\" href=\"https:\/\/uaecabinet.ae\/en\/details\/news\/mohammed-bin-rashid-uae-government-annual-meetings-represent-an-opportunity-to-evaluate-achievements-set-priorities-objectives-to-fulfil-aspirations-of-uae-people\" style=\"\" rel=\"noopener\">newly-established<\/a> regulator met last week to sign off on a 100-day plan to complete the build-out of the new federal agency, which will be responsible for regulating all pharma products in the country, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/b144ye1-emirates-drug-establishment-bod-approves-100-day\" 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\"><a id=\"wwtt5\"><\/a> <strong>#2- Ajman to get a new freezone:<\/strong> Ajman Ruler Sheikh Humaid bin Rashid Al Nuaimi issued two decrees yesterday to establish a new freezone in the emirate, dubbed the Ajman Centre for New Projects, state news agency <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/13pqdr6-ajman-ruler-establishes-free-zone-dubbed-ajman\" 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>#3- A new AED 150 mn content creator fund <\/strong>will support content creators as well as the establishment of a permanent HQ for influencers. Vice President Mohammed bin Rashid Al Maktoum <a target=\"_blank\" href=\"https:\/\/twitter.com\/HHShkMohd\/status\/1745108341121065026\" style=\"\" rel=\"noopener\">announced<\/a> the fund. <\/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\">CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Dubai International Project Management Forum (DIPMF)<\/strong> starts today (Monday, 15 January) at the Madinat Arena in Madinat Jumeirah. <a target=\"_blank\" href=\"https:\/\/www.dipmf.ae\/en\/\" style=\"\" rel=\"noopener\">DIPMF 2024<\/a> will focus on sustainability, modern methods of project management, and future trends and technology. The event runs until Thursday, 18 January. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>iFX EXPO Dubai 2024 is also on this week:<\/strong> The three-day fintech and online trading expo <a target=\"_blank\" href=\"https:\/\/dubai2024.ifxexpo.com\/discover\/?gad_source=1&gclid=CjwKCAiA1-6sBhAoEiwArqlGPubvRc6DWxFeZTQX5QrAkvYa5hmPoEVm_60JC4yxxCXIvTuITyoNexoChU8QAvD_BwE\" style=\"\" rel=\"noopener\">iFX<\/a><a target=\"_blank\" href=\"https:\/\/dubai2024.ifxexpo.com\/discover\/?gad_source=1&gclid=CjwKCAiA1-6sBhAoEiwArqlGPubvRc6DWxFeZTQX5QrAkvYa5hmPoEVm_60JC4yxxCXIvTuITyoNexoChU8QAvD_BwE\" style=\"\" rel=\"noopener\">EXPO Dubai 2024<\/a> starts tomorrow, Tuesday, 16 January at the Dubai World Trade Centre. Check out the full agenda <a target=\"_blank\" href=\"https:\/\/dubai2024.ifxexpo.com\/discuss\/\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/davos\/\">Davos<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/lunate\/\">Lunate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/maktoum-bin-mohammed-al-maktoum\/\">Maktoum bin Mohammed Al Maktoum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/us-presidential-elections\/\">US presidential elections<\/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=\"87944\" 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=\"87944\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/first-abu-dhabi-bank-takes-usd-700-mn-sukuk-to-market-the-first-sukuk-of-2024\/\">\r\n                            First Abu Dhabi Bank issues first sukuk of 2024                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/first-abu-dhabi-bank-takes-usd-700-mn-sukuk-to-market-the-first-sukuk-of-2024\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/first-abu-dhabi-bank-takes-usd-700-mn-sukuk-to-market-the-first-sukuk-of-2024\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/first-abu-dhabi-bank-takes-usd-700-mn-sukuk-to-market-the-first-sukuk-of-2024\/\">\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=First Abu Dhabi Bank takes USD 700 mn sukuk to market, the first sukuk of 2024&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/first-abu-dhabi-bank-takes-usd-700-mn-sukuk-to-market-the-first-sukuk-of-2024\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/first-abu-dhabi-bank-takes-usd-700-mn-sukuk-to-market-the-first-sukuk-of-2024\/&title=First Abu Dhabi Bank takes USD 700 mn sukuk to market, the first sukuk of 2024\">\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=First+Abu+Dhabi+Bank+takes+USD+700+mn+sukuk+to+market%2C+the+first+sukuk+of+2024+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F01%2F15%2Ffirst-abu-dhabi-bank-takes-usd-700-mn-sukuk-to-market-the-first-sukuk-of-2024%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/first-abu-dhabi-bank-takes-usd-700-mn-sukuk-to-market-the-first-sukuk-of-2024\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/928.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87945\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/first-abu-dhabi-bank-takes-usd-700-mn-sukuk-to-market-the-first-sukuk-of-2024\/928-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/928.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"928.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/928.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/928.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87944\" class=\"content-area-description single-story post-87944 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt tag-debt-watch tag-fab 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\/.40ccfcf7-8b6b-461b-a991-db66cb92cf52.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>First Abu Dhabi Bank (FAB) placed a five-year, USD 800 mn sukuk on Thursday <\/strong>at 85 basis points (bps) over US treasuries, good for an all-in yield of nearly 4.8%, state news agency <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/b13jijk-fab-issues-first-sukuk-globally-2024\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The shariah-compliant bonds are part of a USD 5 bn trust certificate issuance program announced last January, according to <a target=\"_blank\" href=\"https:\/\/www.bankfab.com\/v1\/-\/media\/fabgroup\/home\/about-fab\/investor-relations\/debt-investor-information\/prospectuses\/2023\/fab-sukuk-programme-update-2023--base-prospectus-final--edisclaimer.pdf?view=1\" style=\"\" rel=\"noopener\">the prospectus (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fast fact: <\/strong>It\u2019s both the first global sukuk issuance of the year and the region\u2019s first non-sovereign issuance of 2024. (Saudi Arabia sold USD 12 bn worth of Yankee bonds in a similarly oversubscribed issuance last week.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investor demand was strong:<\/strong>The offering was 1.9x oversubscribed, with FAB receiving USD 1.45 bn in orders from international fund managers, supranationals, and banks, leading the bank to narrow the spread, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/markets\/fixed-income\/uaes-fab-sets-final-spread-for-its-5-year-sukuk-document-ipxpg302\" style=\"\" rel=\"noopener\">Reuters<\/a> reported earlier, citing a document it has seen. Some 76% of the sukuk was allocated to Islamic investors, while 38% was allocated to international counterparts, reports Wam.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> The spread was revised downwards from earlier guidance of 100 bps on strong investor demand, resulting in one of FAB\u2019s lowest spreads on any USD-denominated debt transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Dubai Islamic Bank, Emirates NBD Capital, HSBC, KFH Capital, Sharjah Islamic Bank, Standard Chartered Bank, and the Islamic Corporation for the Development of the Private Sector were joint lead managers and bookrunners, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/uaes-fab-gives-price-guidance-its-5-yr-sukuk-2024-01-08\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fab\/\">FAB<\/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=\"87946\" 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=\"87946\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/adq-to-acquire-40-5-of-egyptian-hospitality-group\/\">\r\n                            ADQ to acquire 40.5% of Egyptian hospitality group                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/adq-to-acquire-40-5-of-egyptian-hospitality-group\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/adq-to-acquire-40-5-of-egyptian-hospitality-group\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/adq-to-acquire-40-5-of-egyptian-hospitality-group\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=ADQ to acquire 40.5% of Egyptian hospitality group&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/adq-to-acquire-40-5-of-egyptian-hospitality-group\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/adq-to-acquire-40-5-of-egyptian-hospitality-group\/&title=ADQ to acquire 40.5% of Egyptian hospitality group\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=ADQ+to+acquire+40.5%25+of+Egyptian+hospitality+group+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F01%2F15%2Fadq-to-acquire-40-5-of-egyptian-hospitality-group%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/adq-to-acquire-40-5-of-egyptian-hospitality-group\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/796.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87947\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/adq-to-acquire-40-5-of-egyptian-hospitality-group\/796-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/796.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"796.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/796.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/796.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87946\" class=\"content-area-description single-story post-87946 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-adnec tag-adq tag-enterpriseam-uae tag-hotels tag-icon tag-ma-watch tag-tmg 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\/.4ee1c413-5cc6-4823-b4a9-e5c3f4d3cb6a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>ADQ invests big in Egypt\u2019s historic hotels:<\/strong> Abu Dhabi wealth fund ADQ and its subsidiary Adnec Group will take part-ownership of several luxury Egyptian hotels after they signed an agreement to acquire 40.5% of Icon, the hospitality arm of Talaat Moustafa Group (TMG), through a capital increase, ADQ and ADNEC said in a <a target=\"_blank\" href=\"https:\/\/www.adq.ae\/newsroom\/adq-and-adnec-group-enter-into-definitive-agreements-to-acquire-a-40-5-percent-stake-in-tmg-holdings-hospitality-business-in-egypt\/\" style=\"\" rel=\"noopener\">joint statement<\/a> on Friday, without disclosing the value of the transaction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who owns what:<\/strong> ADQ and Adnec will jointly invest in the acquisition through a special purpose vehicle. Adnec will hold 51% of the new vehicle, while ADQ will own 49%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Icon acquired a 39% stake in seven historic hotels under Egypt\u2019s state privatization program in December, with plans to eventually hold a 51% stake in the hotels, bringing the transaction\u2019s value to USD 800 mn. The seven hotels include the Cairo Marriott Hotel in Zamalek, Marriott Mena House, Steigenberger Hotel El Tahrir Cairo, Steigenberger Cecil Alexandria, Sofitel Legend Old Cataract Aswan, M\u00f6venpick Aswan, and Sofitel Winter Palace Luxor. Added to Icon\u2019s existing portfolio, Icon will have 5k rooms and 15 luxury assets nationwide.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Icon already owns some of Egypt\u2019s most well-known properties and has four more in the <\/strong><strong>pipeline.<\/strong> Its existing portfolio includes two Four Seasons properties in Cairo and one each in Alexandria and Sharm El Sheikh as well as the Kempinski Nile Hotel. It has additional properties in development or design in Cairo, Luxor, and Marsa Alam.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We might have an idea about the value of the new transaction:<\/strong> TMG last month said that an \u201cinternational strategic investor\u201d would acquire a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/news\/story\/9e88b903-fd4f-448e-b331-314accc55de9\" style=\"\" rel=\"noopener\">minority stake worth USD 882.5 mn<\/a> in Icon via capital increase, giving it an indirect stake in the hotels. This will result in \u201cone of the largest foreign direct inflows into Egypt in the last several years,\u201d TMG said at the time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the money for?<\/strong> Proceeds from the transaction will go towards deleveraging Icon\u2019s existing debt and to pay for the acquisition of the historic hotels from the government, according to ADQ.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>EFG Hermes was sole financial advisor to TMG Holding on ADQ and Adnec\u2019s acquisition of a stake in Icon and was sole financial advisor to TMG on its acquisition of the heritage hotels from the Government of Egypt. White & Case UAE and Egypt were legal counsel to ADQ and Adnec, while Gibson Dunn, Sarie El-Din & Partners, and Shahid Law were counsel to TMG.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnec\/\">ADNEC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/hotels\/\">hotels<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/icon\/\">Icon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tmg\/\">TMG<\/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=\"87948 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"87948\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/87948-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87948\" class=\"content-area-description single-story post-87948 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreq.com\/en\/uae\/neo\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/801.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87949\" 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=\"87949\">\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\/2024\/01\/15\/two-big-healthcare-ma-to-start-your-week\/\">\r\n                            GII acquires USD 160 mn stake in KSA\u2019s Abeer. PLUS: PureHealth completes acquisition of the UK\u2019s Circle Health Group and Tawazun acquires Tasneef                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/two-big-healthcare-ma-to-start-your-week\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/two-big-healthcare-ma-to-start-your-week\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/two-big-healthcare-ma-to-start-your-week\/\">\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=Two big healthcare M&#038;A to start your week&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/two-big-healthcare-ma-to-start-your-week\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/two-big-healthcare-ma-to-start-your-week\/&title=Two big healthcare M&#038;A to start your week\">\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=Two+big+healthcare+M%26%23038%3BA+to+start+your+week+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F01%2F15%2Ftwo-big-healthcare-ma-to-start-your-week%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/two-big-healthcare-ma-to-start-your-week\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1609.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87950\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/two-big-healthcare-ma-to-start-your-week\/1609-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1609.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1609.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1609.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1609.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87949\" class=\"content-area-description single-story post-87949 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-centene tag-circle-health-group tag-enterpriseam-uae tag-ma tag-ma-watch tag-purehealth tag-tasneef tag-tawazun-council 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\/.a6d000c4-135d-41ff-9fdf-c3d057008c72.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It\u2019s a big morning for M&A in the healthcare sector<\/strong>, with Gulf Islamic Investments acquiring a minority stake in a Saudi medical firm and newly listed PureHealth completing its acquisition of a UK big healthcare player. In other M&A news: Defense authority Tawazun Council is acquiring Tasneef. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Dubai-based Gulf Islamic Investments (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/gii.ae\/\" style=\"\" rel=\"noopener\">GII<\/a><\/strong><strong>) acquired a USD 160 mn minority stake in <\/strong><strong>Saudi Arabia\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.abeergroup.com\/\" style=\"\" rel=\"noopener\">Abeer Medical Company<\/a><\/strong> in a bid to expand its presence in new cities, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-14\/dubai-s-gii-invests-160-million-in-saudi-arabian-hospital-chain\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing a company statement. The Abeer Group manages a portfolio of around 50 healthcare facilities in Saudi Arabia and around the Persian Gulf. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GII is no stranger to Saudi:<\/strong> In mid-2023, GII obtained a full investment license from the Saudi Capital Market Authority and announced the opening of a new office in Riyadh, according to a <a target=\"_blank\" href=\"https:\/\/gii.ae\/gulf-islamic-investments-strengthens\/\" style=\"\" rel=\"noopener\">press release<\/a>. The Shariah-compliant investment company also acquired a 70% stake worth USD 600 mn in Saudi Arabia\u2019s largest provider of dental and dermatology care, Almeswak Dental Clinics, back in 2022. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More GII investments to come globally: <\/strong>GII is also earmarking some USD 1 bn for strategic investments in the US, India, and the Gulf over the next 12 months, Bloomberg reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong><strong>PureHealth completed its USD 1.2 bn acquisition of UK-based Circle Health<\/strong><strong> Group as <\/strong><strong>part of its global <\/strong><strong>expansion program<\/strong> owner company Centene, according to a <a target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/centene-corporation-completes-divestiture-of-circle-health-group-302033757.html\" style=\"\" rel=\"noopener\">press release<\/a>. The acquisition marks the company\u2019s entry into the UK and was initially agreed in August. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is PureHealth\u2019s second acquisition in as many years: <\/strong>The healthcare firm acquired a USD 1.8 bn stake in the US\u2019 fourth largest private healthcare group, <a target=\"_blank\" href=\"https:\/\/ardenthealth.com\/\" style=\"\" rel=\"noopener\">Ardent Health Services<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong><a target=\"_blank\" href=\"https:\/\/purehealth.ae\/\" style=\"\" rel=\"noopener\">PureHealth<\/a> went public on the ADX in December in what was the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/news\/story\/0d9cff8e-68d1-43bf-82ba-02186f76335b\/The%20Gulf%20IPO%20boom%20shows%20no%20signs%20of%20slowing\" style=\"\" rel=\"noopener\">second-largest IPO in the UAE in 2023<\/a>, valued at AED 36.2 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Circle Health:<\/strong><a target=\"_blank\" href=\"https:\/\/www.circlehealthgroup.co.uk\/\" style=\"\" rel=\"noopener\">Circle Health Group<\/a> is one of the UK\u2019s largest independent hospital operators. It currently runs 53 hospitals across every region of Great Britain and treats over 2 mn privately insured, self-pay, and NHS patients with a team of 6k consultant specialists. <\/p>\n<p class=\"tag-border-left\">OTHER M&A NEWS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirati defense and security acquisitions authority Tawazun Council has acquired the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.tasneef.ae\/\" style=\"\" rel=\"noopener\">Emirates Classification Society (Tasneef)<\/a><\/strong><strong> and its <\/strong><strong>subsidiaries <\/strong>as part of its strategy to expand in the defense and security sector, state news agency <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/b144y86-tawazun-council-acquires-emirates-classification\" style=\"\" rel=\"noopener\">Wam<\/a> reports.The acquisition will see Tawazun Council leverage Tasneef\u2019s expertise in maritime classification, technical consulting, and training to boost national defense capabilities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the two authorities:<\/strong><a target=\"_blank\" href=\"https:\/\/www.tawazun.gov.ae\/\" style=\"\" rel=\"noopener\">Tawazun Council<\/a> is an independent government entity assisting the Defense Ministry, Abu Dhabi Police, and UAE-based security agencies with everything from R&D and certification to third-party inspection. <a target=\"_blank\" href=\"https:\/\/www.tasneef.ae\/\" style=\"\" rel=\"noopener\">Tasneef<\/a> is concerned with maritime safety, environmental preservation, and international standards in business assurance and quality management.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/centene\/\">Centene<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/circle-health-group\/\">Circle Health Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/purehealth\/\">PureHealth<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tasneef\/\">Tasneef<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tawazun-council\/\">Tawazun Council<\/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=\"87951\" 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=\"87951\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/tabreed-terminates-capitalmed-contract-with-egypt-over-fx-concerns\/\">\r\n                            Tabreed terminates CapitalMed contract with Egypt over FX concerns                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/tabreed-terminates-capitalmed-contract-with-egypt-over-fx-concerns\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                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over FX concerns&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/tabreed-terminates-capitalmed-contract-with-egypt-over-fx-concerns\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/tabreed-terminates-capitalmed-contract-with-egypt-over-fx-concerns\/&title=Tabreed terminates CapitalMed contract with Egypt over FX concerns\">\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=Tabreed+terminates+CapitalMed+contract+with+Egypt+over+FX+concerns+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F01%2F15%2Ftabreed-terminates-capitalmed-contract-with-egypt-over-fx-concerns%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/tabreed-terminates-capitalmed-contract-with-egypt-over-fx-concerns\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/906.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87952\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/tabreed-terminates-capitalmed-contract-with-egypt-over-fx-concerns\/906-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/906.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"906.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/906.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/906.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87951\" class=\"content-area-description single-story post-87951 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-capitalmed tag-egp-devaluation tag-egypt tag-egyptians-for-healthcare-services tag-enterpriseam-uae tag-investment-watch tag-tabreed 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\/.7cec58e6-c316-4d0f-b2db-fe2884279688.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Tabreed pulls the plug on Egypt contract, citing FX concerns:<\/strong> DFM-listed district cooling firm <a target=\"_blank\" href=\"https:\/\/www.tabreed.ae\/ar\/\" style=\"\" rel=\"noopener\">Tabreed<\/a> has terminated a contract to build a heating and cooling plant for an Egyptian medical complex as Egypt\u2019s foreign exchange challenges make the project \u201cfinancially unsustainable,\u201d CEO Khalid Al Marzooqi told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/5d9ne9tn\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. While the investment costs were in USD, its return was pegged in EGP, he explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>Tabreed landed an <a target=\"_blank\" href=\"https:\/\/www.tabreed.ae\/news\/tabreed-expands-operations-egypt-signing-new-project-ehcs-just-months-entering-market\/\" style=\"\" rel=\"noopener\">AED 306.4 mn (USD 83.4 mn) contract<\/a> in September 2022 to design, build, and operate a heating and cooling plant in Cairo for CapitalMed, a unit of <a target=\"_blank\" href=\"https:\/\/ehcs.com.eg\/\" style=\"\" rel=\"noopener\">Egyptians for Healthcare Services<\/a> (EHCS). The contract came just months after Tabreed <a target=\"_blank\" href=\"https:\/\/www.tabreed.ae\/news\/tabreed-enters-egyptian-market-partnering-marakez-gascool-east-cairos-new-d5m-mall\/\" style=\"\" rel=\"noopener\">entered the Egyptian market<\/a> with a contract to provide cooling services for mixed-use developer Marakez\u2019s D5M shopping center in East Cairo.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How did EGP volatility impact the contract?<\/strong> Tabreed had asked EHCS to modify the water tariff rate set in the contract in response to the steeper-than-expected currency devaluation, but the latter declined the request, prompting the Emirati firm to withdraw from the project, Asharq reported, citing a source it says is in the know. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moving forward: <\/strong>While Tabreed\u2019s Chief Financial Officer Adel Al Wahedi said in July that the company was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/news\/story\/1558642d-7601-4195-a551-3ad914112931\/\" style=\"\" rel=\"noopener\">\u201cslowing down\u201d plans<\/a> for additional investment in Egypt as it waits for a stable outlook on the EGP, Al Marzouqi told Asharq that Tabreed is \u201cstill committed to investing in the Egyptian market.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/capitalmed\/\">CapitalMed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/egp-devaluation\/\">EGP devaluation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/egyptians-for-healthcare-services\/\">Egyptians for Healthcare Services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tabreed\/\">Tabreed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87953\" 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=\"87953\">\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\">REAL ESTATE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/uae-estate-prices-surged-10-4-y-o-y-in-2023\/\">\r\n                            UAE estate prices surged 10.4% y-o-y in 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\/2024\/01\/15\/uae-estate-prices-surged-10-4-y-o-y-in-2023\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/uae-estate-prices-surged-10-4-y-o-y-in-2023\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/uae-estate-prices-surged-10-4-y-o-y-in-2023\/\">\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 estate prices surged 10.4% y-o-y in 2023&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/uae-estate-prices-surged-10-4-y-o-y-in-2023\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/uae-estate-prices-surged-10-4-y-o-y-in-2023\/&title=UAE estate prices surged 10.4% y-o-y in 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+estate+prices+surged+10.4%25+y-o-y+in+2023+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F01%2F15%2Fuae-estate-prices-surged-10-4-y-o-y-in-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\/2024\/01\/15\/uae-estate-prices-surged-10-4-y-o-y-in-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/610.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87954\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/uae-estate-prices-surged-10-4-y-o-y-in-2023\/610-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/610.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"610.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/610.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/610.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87953\" class=\"content-area-description single-story post-87953 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-enterpriseam-uae tag-imf tag-real-estate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.481bd306-af93-4a17-aa42-0894998596cd.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Homebuyers in the UAE are up against the highest y-o-y jump in real estate <\/strong><strong>prices globally in 2023<\/strong>, with house prices climbing nearly 10.4% last year, according to <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/Blogs\/Articles\/2024\/01\/11\/housing-affordability-remains-stretched-amid-higher-interest-rate-environment\" style=\"\" rel=\"noopener\">International Monetary Fund (IMF) data<\/a>. Dubai\u2019s per-sq-ft prices reached a high of AED 1,271 in November 2023, beating the previous peak in September 2014 by 3%, according to <a target=\"_blank\" href=\"https:\/\/propertymonitor.com\/insights\/monthly-market-report\/monthly-market-report-november-2023#:~:text=According%20to%20the%20Property%20Monitor,market%20peak%20of%20September%202014.\" style=\"\" rel=\"noopener\">Cavendish Maxwell Group Company\u2019s 2023 Monthly Market Report<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Property prices in the UAE have inflated since pre-pandemic levels<\/strong>, growing over 14.1%, according to the data. The UAE ranks sixth globally in estate price increases since pre-pandemic levels, trailing behind Portugal, the US, Japan, and the Netherlands.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background<\/strong><strong>: <\/strong>Price surges come down to a high influx of foreign workers and an increased demand from high net-worth individuals, says <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/pulse\/why-off-plan-developers-pricing-properties-so-aggressively\/\" style=\"\" rel=\"noopener\">Sergei Rakov, head of technology at Allsopp & Allsopp<\/a>. Half of Dubai\u2019s property market consists of overseas buyers, with Russian oligarchs making up nearly 15% of the market, reports <a target=\"_blank\" href=\"https:\/\/www.telegraph.co.uk\/business\/2023\/09\/20\/house-prices-dubai-rise-fastest-in-the-world\/\" style=\"\" rel=\"noopener\">The Telegraph<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87955\" 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=\"87955\">\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\">MANUFACTURING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/emirati-manufacturers-sign-usd-2-2-bn-projects-with-bahraini-jordanian-firms\/\">\r\n                            Emirati manufacturers sign USD 2.2 bn projects with Bahraini, Jordanian firms                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/emirati-manufacturers-sign-usd-2-2-bn-projects-with-bahraini-jordanian-firms\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/emirati-manufacturers-sign-usd-2-2-bn-projects-with-bahraini-jordanian-firms\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/emirati-manufacturers-sign-usd-2-2-bn-projects-with-bahraini-jordanian-firms\/\">\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=Emirati manufacturers sign USD 2.2 bn projects with Bahraini, Jordanian firms&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/emirati-manufacturers-sign-usd-2-2-bn-projects-with-bahraini-jordanian-firms\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/emirati-manufacturers-sign-usd-2-2-bn-projects-with-bahraini-jordanian-firms\/&title=Emirati manufacturers sign USD 2.2 bn projects with Bahraini, Jordanian firms\">\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=Emirati+manufacturers+sign+USD+2.2+bn+projects+with+Bahraini%2C+Jordanian+firms+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F01%2F15%2Femirati-manufacturers-sign-usd-2-2-bn-projects-with-bahraini-jordanian-firms%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/emirati-manufacturers-sign-usd-2-2-bn-projects-with-bahraini-jordanian-firms\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/846.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87956\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/emirati-manufacturers-sign-usd-2-2-bn-projects-with-bahraini-jordanian-firms\/846-jpeg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/846.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"846.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/846.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/846.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87955\" class=\"content-area-description single-story post-87955 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-bahrain tag-emirates-steel tag-enterpriseam-uae tag-jordan tag-manufacturing tag-steel 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\/.ceaf5ee3-95ac-4791-a635-e8bbffeb29ff.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Emirati manufacturers inked five agreements with Bahraini and Jordanian<\/strong><strong> companies <\/strong>during a committee meeting of the <a target=\"_blank\" href=\"https:\/\/www.bna.bh\/en\/HigherCommitteeforIntegratedIndustrialPartnershipforSustainableEconomicDevelopmentholdsmeeting.aspx?cms=q8FmFJgiscL2fwIzON1%2BDk36cnAGltYQxwHnzaoXw6A%3D\" style=\"\" rel=\"noopener\">Industrial Partnership for Sustainable Economic Development<\/a> held in Manama, Bahrain. The projects and export agreements have a total value of about USD 2.2 bn, state news agency <a target=\"_blank\" href=\"https:\/\/wam.ae\/a\/b13jj6k\" 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>Refresher: <\/strong>The UAE, Egypt, Bahrain, and Jordan set up an industrial partnership in 2022 in a bid to support industrial growth and strengthen regional supply chains.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Bahrain Steel to provide Emirates Steel with USD 2 bn iron ore: <\/strong>Bahrain-based <a target=\"_blank\" href=\"https:\/\/www.foulath.com.bh\/\" style=\"\" rel=\"noopener\">Foulath<\/a><a target=\"_blank\" href=\"https:\/\/www.foulath.com.bh\/\" style=\"\" rel=\"noopener\">Holding Group<\/a> \u2019s subsidiary, Bahrain Steel company, inked a USD 2 bn agreement to supply <a target=\"_blank\" href=\"https:\/\/www.emiratessteelllc.com\/\" style=\"\" rel=\"noopener\">Emirates Steel Company<\/a> with 2 mn tons of iron ore pellets over five years, according to Wam.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong><strong>W Motors to set up EV plant in Jordan: <\/strong>Dubai-based <a target=\"_blank\" href=\"https:\/\/wmotors.ae\/\" style=\"\" rel=\"noopener\">W Motors<\/a>, a strategic partner of EV manufacturer <a target=\"_blank\" href=\"https:\/\/www.nwtnmotors.com\/\" style=\"\" rel=\"noopener\">NWTN Motors<\/a>, will partner with Jordanian energy and mobility firm <a target=\"_blank\" href=\"https:\/\/www.manaseergroup.com\/Home\/\" style=\"\" rel=\"noopener\">Manaseer<\/a><a target=\"_blank\" href=\"https:\/\/www.manaseergroup.com\/Home\/\" style=\"\" rel=\"noopener\">Group<\/a> to establish an EV factory in Jordan with a total investment of USD 80 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/moiatuae\/\" style=\"\" rel=\"noopener\">Industry and Advanced Technology Ministry<\/a><\/strong><strong> signed an MoU with Bahrain\u2019s<\/strong><strong> Industry and Commerce Ministry<\/strong> to cooperate on local production programs, leveraging the in-country value initiative aimed at bolstering the contribution of local industries and supporting local manufacturers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Morocco\u2019s in: <\/strong>The UAE welcomed Morocco\u2019s decision to join the Integrated Industrial Partnership \u201cgiven its leading industrial and economic status, and achievements across various sectors \u2013 particularly industry \u2013 which is vital to supporting investment opportunities,\u201d Industry and Advanced Technology Minister Dr. Sultan bin Ahmed Al Jaber said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart: <\/strong>Morocco has for more than a decade now been on an industrialization drive that has seen it emerge as a regional powerhouse in industries including car assembly, parts manufacturing, and aeronautics and is now home to global manufacturers giants including Renault and Boeing.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/bahrain\/\">Bahrain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/emirates-steel\/\">Emirates Steel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/jordan\/\">Jordan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/manufacturing\/\">MANUFACTURING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/steel\/\">Steel<\/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=\"87957\" 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=\"87957\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/warehousing-startup-cargoz-to-expand-in-saudi\/\">\r\n                            Dubai-Based warehousing startup Cargoz to expand in Saudi Arabia                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/724.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87958\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/warehousing-startup-cargoz-to-expand-in-saudi\/724-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/724.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"724.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/724.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/724.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87957\" class=\"content-area-description single-story post-87957 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-cargoz tag-enterpriseam-uae tag-logistics tag-saudi-arabia tag-startup-watch tag-startups 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\/.e77df270-4571-419f-aff8-dc06f940637b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Cargoz taps into fresh funding to set up shop in KSA:<\/strong> Logistics startup <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=062edb7f46&e=8e5fca127e\" style=\"\" rel=\"noopener\">Cargoz<\/a> is set to expand to Saudi Arabia in the first quarter of the year as it deploys recently raised seed funding, it said in a <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=ac83453a04&e=8e5fca127e\" style=\"\" rel=\"noopener\">statement<\/a> picked up by Wamda last week. The round was led by <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=b428cc1cdf&e=8e5fca127e\" style=\"\" rel=\"noopener\">Nama Ventures<\/a> with participation from <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=e995566496&e=8e5fca127e\" style=\"\" rel=\"noopener\">RAZ Holding<\/a>, <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=0e210c6bae&e=8e5fca127e\" style=\"\" rel=\"noopener\">Innovest Properties<\/a>, and several unnamed regional family offices and angels in the industry. It did not specify how much it has raised.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Think AirBnb, but for logistics:<\/strong> Founded in 2022, Cargoz is a warehousing and logistics startup that connects SMEs that need flexible, on-demand warehouses to warehouse owners and operators who have empty or unused space.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Work in progress for months:<\/strong> In May 2023, Cargoz <a target=\"_blank\" href=\"https:\/\/logistics.enterprise.news\/news\/story?storyId=b868c9de-9ae5-42f9-90ce-c6d704a0ea7d\" style=\"\" rel=\"noopener\">announced<\/a> it had secured a bridge round aimed at accelerating expansion to the Kingdom, saying at the time it planned to launch in Saudi Arabia by 3Q 2023.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/cargoz\/\">Cargoz<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87959\" 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=\"87959\">\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\">TRENDING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/uae-x-so-far-so-good-in-the-asian-cup\/\">\r\n                            UAE X: So far so good in the Asian Cup                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div 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class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/uae-x-so-far-so-good-in-the-asian-cup\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/4657.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87960\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/uae-x-so-far-so-good-in-the-asian-cup\/4657-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/4657.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"4657.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/4657.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/4657.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87959\" class=\"content-area-description single-story post-87959 post type-post status-publish format-standard has-post-thumbnail hentry category-trending tag-enterprise-recommends 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\/.e6fff4fd-0c69-41ac-a8e9-0640c2d6f0ec.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yet another football-heavy day on UAE X: <\/strong><a target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%23%D8%A7%D9%84%D8%A7%D9%85%D8%A7%D8%B1%D8%A7%D8%AA_%D9%87%D9%88%D9%86%D8%AC_%D9%83%D9%88%D9%86%D8%AC&src=trend_click&vertical=trends\" style=\"\" rel=\"noopener\">\u0627\u0644\u0627\u0645\u0627\u0631\u0627\u062a_\u0647\u0648\u0646\u062c_\u0643\u0648\u0646\u062c#<\/a> and <a target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%23%D9%83%D8%A7%D8%B3_%D8%A7%D8%B3%D9%8A%D8%A72023&src=trend_click&vertical=trends\" style=\"\" rel=\"noopener\">#\u0643\u0627\u0633_\u0627\u0633\u064a\u06272023<\/a> were the trending hashtags, after the Emirates\u2019 3-1 victory over Hong Kong in our first match of the Asian Cup, putting us top of Group C on goal difference. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/enterprise-recommends\/\">Enterprise recommends<\/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=\"87961\" 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  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class=\"index-number\">10<\/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\/2024\/01\/15\/another-hedge-fund-sets-up-in-adgm\/\">\r\n                            Coffey\u2019s Kirkoswald sets up in ADGM                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/another-hedge-fund-sets-up-in-adgm\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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hedge fund sets up in ADGM&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/another-hedge-fund-sets-up-in-adgm\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/another-hedge-fund-sets-up-in-adgm\/&title=Another hedge fund sets up in ADGM\">\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 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data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/another-hedge-fund-sets-up-in-adgm\/874-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/874.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"874.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/874.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/874.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87962\" class=\"content-area-description single-story post-87962 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-enterpriseam-uae tag-finance tag-investment-watch 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\/.86c6e078-46cf-4c90-af49-dc8121e2decd.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Greg Coffey\u2019s hedge fund arrival in Abu Dhabi got ink the foreign press:<\/strong>Australian hedge fund trader Greg Coffey has become the latest business magnate to set up shop in Abu Dhabi with the expansion of his asset management firm <a target=\"_blank\" href=\"https:\/\/www.kirkoswald.com\/\" style=\"\" rel=\"noopener\">Kirkoswald<\/a> in Abu Dhabi Global Market (ADGM), <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-12\/coffey-s-hedge-fund-joins-finance-elite-opening-in-abu-dhabi\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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=\"87964\" 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=\"87964\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/abu-dhabi-is-getting-a-new-medical-city-adia-invests-in-indonesias-infrastructure\/\">\r\n                            Abu Dhabi is getting a new medical city + ADIA invests in Indonesia\u2019s infrastructure. PLUS: More energy, insurance, real estate and capital markets news                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/abu-dhabi-is-getting-a-new-medical-city-adia-invests-in-indonesias-infrastructure\/\" 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 facility will launch in 2027 and will include a new center of excellence \u2014 dubbed the Sheikh Khalifa Medical City (SKMC) center \u2014 for pediatric care, \u201cthe Corniche Hospital dedicated to women and newborns\u2019 health, a rehabilitation facility, and a mental health center for women and children,\u201d the statement read.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More about the medical city:<\/strong> The facility will be established by the Abu Dhabi Department of Health (DoH) in partnership with ADX-listed PureHealth, according to the <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/DoHSocial\/posts\/pfbid0aLdp3QaT3fo4DmtaGLY5Bb7QAsZwv6Kh8UJ8RPfLgqtdCUeQn7SodVY3YpwvsUX5l?__cft__[0]=AZWevQky2pg0TzjFkXRFbobA9oflSCg7qRPOsSrS2O43Shk3f0_Dfuimr9ZYOU1c7-EXwLvgixjxIk8ltW2DovT0SZ54_xcWNzF1a3J1IG0TJAkBFu4yRjoIJJ09ogSR-m7AaUGlXF8P1FjHbDfRDT415fgzk9VWE_q67UR-D6nEgNiI67j699WC7hNe1d1fxQisxSb67NpKnqjwxgQ8PZ46&__tn__=%2CO%2CP-R\" style=\"\" rel=\"noopener\">health department<\/a>. The Corniche Hospital will include 205 beds, while the center of excellence will have a capacity of 259 beds with a team of 200 doctors. <\/p>\n<p class=\"tag-border-left\">INFRASTRUCTURE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- ADIA invests in Indonesia\u2019s toll road investment platform:<\/strong> The Abu Dhabi Investment Authority (ADIA), the Dutch pension investor APG Asset Management (APG) and Indonesia's sovereign wealth fund (INA) have invested in Indonesia\u2019s Trans Java toll road platform, according to an ADIA <a target=\"_blank\" href=\"https:\/\/www.adia.ae\/media\/azure\/adia\/media\/2023\/01\/press-release-adia-and-apg-to-invest-in-trans-java-toll-roads.pdf\" style=\"\" rel=\"noopener\">press release<\/a>, which did not specify the exact amount of investments ADIA made. INA has already acquired for the platform seed assets that it thinks will unlock some USD 2.75 bn worth of investment in Indonesia\u2019s toll road networks. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Back in 2021, a consortium that includes ADIA, the INA, Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec (CDPQ), and APG inked an MoU to establish Indonesia\u2019s first infrastructure investment platform some USD 3.75 bn in investment capacity, according to <a target=\"_blank\" href=\"https:\/\/www.cdpq.com\/en\/news\/pressreleases\/ina-cdpq-apg-and-adia-sign-memorandum-of-understanding-to-establish-indonesias\" style=\"\" rel=\"noopener\">CDPQ\u2019s press release<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Data analytics firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.presight.ai\/\" style=\"\" rel=\"noopener\">Presight<\/a><\/strong><strong> and Japan\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/hitachids.com\/?utm_source=google&utm_medium=paid-search&utm_campaign=MCloud.DS-HARC-twog-sem-harc-17d-All_Seg-APAC-OAPS-Q2-FY23&utm_keyword=hitachi%20digital%20services&gclid=CjwKCAiAqY6tBhAtEiwAHeRopXZMzfgxTBOjFhW4G6XDmBQY6Mlrs2vEewHkv1H2CfmWPhAdWXtqThoCA9kQAvD_BwE&gad_source=1\" style=\"\" rel=\"noopener\">Hitachi Digital Services<\/a><\/strong><strong> are working together <\/strong><strong>on <\/strong><strong>smart and cognitive city technologies<\/strong>, according to an ADX <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/848.pdf\" style=\"\" rel=\"noopener\">filing (pdf)<\/a>. Both parties will also explore solutions for urban planning, infrastructure, environmental and energy efficiency, along with the digitization and the integration of AI, the statement reads. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Vice President Sheikh Mohammed bin Rashid <\/strong><strong>Al Maktoum has approved a number of social housing projects for 2024<\/strong>, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/13pqdqu-mohammed-bin-rashid-approves-series-welfare\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The projects include distributing 3.5k land plots in an area dubbed Latifa City and another called Al Yalayis 5 to Dubai citizens in February, and some AED 5.5 bn, 2.3k ready-to-move-in houses, in various locations across the emirate, including Al Khawaneej 2, Al Aweer, Wadi Al Amardi, and Hatta to citizens. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Dubai establishes a center to address road flooding issues: <\/strong>Dubai's Road and Transport Authority (RTA) opened a joint flood management room to manage road flooding caused by heavy rain, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/b15btqo-rta-launches-joint-flood-management-room-address\" style=\"\" rel=\"noopener\">Wam<\/a> reports. A designated team will use advanced technology to monitor traffic and response plans and deploy teams to mitigate and minimize the impact of flooding. <\/p>\n<p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Borouge inks AED 160 mn two-year agreement with Naffco:<\/strong> Petrochemicals firm and Adnoc-Borealis JV <a target=\"_blank\" href=\"https:\/\/www.borouge.com\/en\/Pages\/home.aspx\" style=\"\" rel=\"noopener\">Borouge<\/a> is set to provide fire protection systems manufacturer and supplier <a target=\"_blank\" href=\"https:\/\/www.naffco.com\/eg\/en\/\" style=\"\" rel=\"noopener\">Naffco<\/a> with sustainable polyethylene materials for its local and regional infrastructure projects under an AED 160 mn two-year agreement, a <a target=\"_blank\" href=\"https:\/\/www.borouge.com\/en\/media\/Pages\/News\/Naffco.aspx\" style=\"\" rel=\"noopener\">press release<\/a> reads. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The projects:<\/strong> Supplies will go to Naffco\u2019s projects in <a target=\"_blank\" href=\"https:\/\/abudhabiculture.ae\/en\/experience\/museums\/guggenheim-abu-dhabi\" style=\"\" rel=\"noopener\">Guggenheim Museum<\/a>, Riyadh City, <a target=\"_blank\" href=\"https:\/\/www.bayut.com\/area-guides\/mbz-city\/\" style=\"\" rel=\"noopener\">Mohammad Bin Zayed City<\/a>, <a target=\"_blank\" href=\"https:\/\/www.yasisland.com\/\" style=\"\" rel=\"noopener\">Yas Island<\/a>, Dubai Hills, <a target=\"_blank\" href=\"https:\/\/thoe.com\/\" style=\"\" rel=\"noopener\">Heart of Europe Island<\/a>, and Etihad Water and Electricity. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">REAL ESTATE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- ADX-listed RAK Properties sold out the inaugural phase of its latest residential <\/strong><strong>waterfront project, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.rak.realestate\/quattro-del-mar\/?gclid=CjwKCAiAqY6tBhAtEiwAHeRopYkq0PLYkSrK82ZI5MsuFPIGw2ckuUEhQxZ0g_MNDhGLXqRAZlnwtRoC3iIQAvD_BwE\" style=\"\" rel=\"noopener\">Quattro Del Mar<\/a><\/strong> in Ras Al Khaimah, according to a <a target=\"_blank\" href=\"https:\/\/adxservices.adx.ae\/cdn\/contentdownload.aspx?doc=3029619\" style=\"\" rel=\"noopener\">press release<\/a> posted on Thursday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- e& + Adres to boost Abu Dhabi\u2019s digital real estate landscape:<\/strong> Telecom operator <a target=\"_blank\" href=\"https:\/\/www.etisalat.ae\/en\/index.html\" style=\"\" rel=\"noopener\">Etisalat by e&<\/a> signed a partnership MoU with proptech solutions firm <a target=\"_blank\" href=\"https:\/\/www.adres.ae\/\" style=\"\" rel=\"noopener\">Advanced Real Estate Services (Adres)<\/a> to enhance its real estate platform and its other digital products, <a target=\"_blank\" href=\"https:\/\/www.adres.ae\/dari\/\" style=\"\" rel=\"noopener\">Dari<\/a>, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/b144ye0-etisalat-partners-with-adres-support-uae%E2%80%99s-real\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n<p class=\"tag-border-left\">INS.- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.naboodainsurance.com\/\" style=\"\" rel=\"noopener\">Al Nabooda Ins. Brokers (ANIB)<\/a><\/strong><strong> is set to expand its medical ins. portfolio <\/strong>to include more comprehensive coverage, customizable plans, digital health solutions and a wider network of healthcare providers, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/anib-expands-customized-services-portfolio-enhances-individual-medical-insurance-offering-to-dubai-residents-x0004n4q\" 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\">\n<p class=\"tag-border-left\">JUSTICE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai Ruler Sheikh Maktoum bin Mohammed Al Maktoum approved the <\/strong><strong>appointment of 10 new Emirati judges <\/strong>during a Dubai Judicial Council meeting, according to a <a target=\"_blank\" href=\"https:\/\/mediaoffice.ae\/en\/news\/2024\/January\/11-01\/Maktoum-bin-Mohammed-meeting\" style=\"\" rel=\"noopener\">statement<\/a>. Sheikh Maktoum, who serves as the council\u2019s chairman, also greenlit the enrolment of 20 Emirati citizens in a training session organized by the Dubai Judicial Institute. The 20 are on track to be named assistant prosecutors in Dubai\u2019s <a target=\"_blank\" href=\"https:\/\/www.dxbpp.gov.ae\/default.aspx?lang=en\" style=\"\" rel=\"noopener\">Public Prosecutor\u2019s office<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/healthcare\/\">Healthcare<\/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\/insurance\/\">insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/telecoms\/\">telecoms<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87966\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"87966\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/re-ins-players-scale-back-coverage-in-the-region-to-hedge-against-conflict-escalation\/\">\r\n                            Re-ins. players scale back coverage in the region to hedge against conflict escalation                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/re-ins-players-scale-back-coverage-in-the-region-to-hedge-against-conflict-escalation\/\" 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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Local insurers under the new contracts will lose their reinsurance coverage for any newly underwritten asset in the event of the clause being triggered.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expect to claim less for more:<\/strong>To make matters worse for insurers, re-insurers are also upping prices and pressuring primary insurers in Lebanon, Jordan, and Israel to cap coverage \u2014 which in tandem with the get-out clauses make doing business in the region riskier and costlier than it previously was.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH MENTIONING-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Citigroup to slash nearly 10% of its workforce:<\/strong> Citigroup will cut 20k jobs over the medium term in a bid to save up to USD 2.5 bn and boost the struggling US bank\u2019s returns. (<a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/872.pdf\" style=\"\" rel=\"noopener\">Earnings presentation, pdf<\/a>)<\/p>\n<p><a target=\"_blank\" id=\"t.4974ddaf9896abdef06e204e5196690ee90f3990\" 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-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,791<\/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: +2.2%)<\/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>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\">4,104<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +1.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">3,900<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +1.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.0% o\/n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.1% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,060<\/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: +0.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">25,974<\/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\">+1.8% (YTD: +4.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,625<\/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: -1.4%)<\/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>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\">4,480<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: -0.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 78.29<\/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\">+1.1%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.31<\/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\">+7.0%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,051.60<\/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\">+1.6%<\/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>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 42,425.94<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3% (YTD: -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>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\">7,625<\/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: -1.4%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ADX fell 0.5% on Friday<\/strong>on turnover of AED 1.1 bn. The index is up 2.32% 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>Gulf Pharma Industries (+12.1%), Chimera S&P Pakistan (+9.3%) and E7 Group (+7.5%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Umm Al Quwain General Investment (-4.4%), Eshraq (-2.6%) and Easy Leace (-2.3%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The DFM<\/strong><strong>closed down on Friday <\/strong>turnover of AED 249.87 mn. The index is up 1.1% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets sagged at the opening bell but have since recovered <\/strong>and are cautiously in the green as investors digest Taiwan\u2019s election results on the first day of trading this week. European benchmarks look uniformly set to open in the green later this morning, while the Dow, S&P and Nasdaq are all flirting with the red. <\/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\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Drive announces a 2-for-1 stock split: <\/strong>ADX-listed Emirates Driving Company (Drive) has received board approval to split the company\u2019s shares, reducing the share\u2019s nominal value from AED 1 to AED 0.50, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/860.pdf\" style=\"\" rel=\"noopener\">bourse filing (pdf)<\/a>. The split seeks to double the total number of issued shares from 89.8 mn to 179.5 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company also approved the capitalization of AED 448.9 mn worth of retained <\/strong><strong>earnings<\/strong>,increasing its share capital to AED 538.7 mn (or 897.9 mn shares), according to the filing. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/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\/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=\"87968\" 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=\"87968\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/uae-wraps-partnership-talks-with-costa-rica-plans-to-cooperate-with-kazakhstan-on-data-centers-and-ai-infrastructure\/\">\r\n                            UAE wraps CEPA talks with Costa Rica + plans to cooperate with Kazakhstan on data centers and AI infrastructure                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/uae-wraps-partnership-talks-with-costa-rica-plans-to-cooperate-with-kazakhstan-on-data-centers-and-ai-infrastructure\/\" target=\"_blank\">\n                    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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\/.4aa77429-2e73-4478-84a9-ae95b5a70dca.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE, Kazakhstan partner on data center and AI projects:<\/strong> The Investment Ministryinked an agreement on Friday with Kazakhstan\u2019s Ministry of Digital Development, Innovations, and Aerospace Industry and the Sovereign Wealth Fund Samruk-Kazyna for an investment cooperation framework for data center and AI projects in Kazakhstan, state news agency <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/b144yml-uae-kazakhstan-sign-agreement-investment\" 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>The UAE has finalized talks for a comprehensive economic partnership agreement (CEPA) <\/strong><strong>with Costa Rica<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2440101\/business-economy\" style=\"\" rel=\"noopener\">Arab News<\/a> reports, citing a media statement. The CEPA is set to eliminate tariffs, reduce trade barriers and promote investment and private sector cooperation. The countries could cooperate further in fields including tourism, renewable energy, food security, ICT, and manufacturing, Arab News quotes Trade Minister Thani bin Ahmed Al Zeyoudi as saying.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OTHER DIPLOMACY NEWS- <\/strong><\/p>\n<ul>\n<li><strong>President Sheikh Mohamed bin Zayed Al Nahyan<\/strong> discussed <strong>bilateral ties<\/strong> and combating <strong>terrorism <\/strong>during a phone call with Turkish President Recep Tayyip Erdogan. (<a target=\"_blank\" href=\"https:\/\/gulfnews.com\/uae\/government\/uae-president-receives-phone-call-from-turkish-president-1.1705258730191\" style=\"\" rel=\"noopener\">Gulf News<\/a>)<\/li>\n<li><strong>Abu Dhabi\u2019s Zimbabwe Embassy opened a consulate in Dubai,<\/strong> in line with a new governmental directive, issued last Friday. The consulate began operations in Al Safa 2 on 2 January. (<a target=\"_blank\" href=\"https:\/\/twitter.com\/ZimEmbassyUAE\/status\/1745779758653177898\" style=\"\" rel=\"noopener\">Statement<\/a>) <\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/data-centers\/\">Data centers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/kazakhstan\/\">Kazakhstan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae\/\">UAE<\/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=\"87970\" 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=\"87970\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/abu-dhabi-ai-player-g42-pushes-back-on-us-allegations-its-cozy-with-china\/\">\r\n                            Abu Dhabi AI player G42 pushes back on US allegations it\u2019s cozy with China                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/abu-dhabi-ai-player-g42-pushes-back-on-us-allegations-its-cozy-with-china\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/abu-dhabi-ai-player-g42-pushes-back-on-us-allegations-its-cozy-with-china\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/abu-dhabi-ai-player-g42-pushes-back-on-us-allegations-its-cozy-with-china\/\">\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=Abu Dhabi AI player G42 pushes back on US allegations it\u2019s cozy with China&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/abu-dhabi-ai-player-g42-pushes-back-on-us-allegations-its-cozy-with-china\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/abu-dhabi-ai-player-g42-pushes-back-on-us-allegations-its-cozy-with-china\/&title=Abu Dhabi AI player G42 pushes back on US allegations it\u2019s cozy with China\">\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=Abu+Dhabi+AI+player+G42+pushes+back+on+US+allegations+it%E2%80%99s+cozy+with+China+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F01%2F15%2Fabu-dhabi-ai-player-g42-pushes-back-on-us-allegations-its-cozy-with-china%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/abu-dhabi-ai-player-g42-pushes-back-on-us-allegations-its-cozy-with-china\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87970\" class=\"content-area-description single-story post-87970 post type-post status-publish format-standard hentry category-on-your-way-out tag-enterpriseam-uae tag-g42 tag-on-your-way-out tag-uae-us-relations 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\/.7c2d729a-8aa9-4371-9bd0-a010c027da7b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>G42 caught in crossfire of US-China trade war:<\/strong> IHC-backed tech and AI company <a target=\"_blank\" href=\"https:\/\/www.g42.ai\/\" style=\"\" rel=\"noopener\">G42<\/a> \u201ccategorically denied\u201d <a target=\"_blank\" href=\"https:\/\/www.g42.ai\/resources\/news\/Statement-on-the-New-York-Times-article-and-the-letter-from-the-United-States-Congress-House-Select-Committee-on-the-CCP\" style=\"\" rel=\"noopener\">in a statement<\/a> last week that it has ties to the Chinese government. The company was responding to a <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/01\/09\/us\/politics\/ai-china-uae-g42.html?searchResultPosition=1\" style=\"\" rel=\"noopener\">New York Times report<\/a> and a letter from a US congressional committee that claimed it was working with the Chinese military. The committee asked the US Commerce Department to consider levying trade restrictions on G42, the NYT quoted US lawmakers as saying. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>G42\u2019s response:<\/strong> \u201cAs an international commercial enterprise, G42 has established a worldwide network of partnerships over time, including some Chinese companies. Such engagements are standard practice among global technology companies,\u201d the statement said. \u201cIn the field of advanced technologies, <strong>we have pursued a commercial strategy since 2022 to fully align with our US partners and not to engage with Chinese companies<\/strong>,\u201d G42\u2019s press release read. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> The US has been restricting trade with China in advanced fields including artificial intelligence, chipmaking and design, and quantum computing. Relations between the two are so touchy that it has taken a <a target=\"_blank\" href=\"https:\/\/shaikhgroup.org\/our_founder_ceo\/\" style=\"\" rel=\"noopener\">non-government intermediary<\/a> to broker talks between US companies and Chinese experts to have secret talks on AI safety, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f87b693f-9ba3-4929-8b95-a296b0278021\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/g42\/\">G42<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/on-your-way-out\/\">ON YOUR WAY OUT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-us-relations\/\">UAE-US relations<\/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=\"87971\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/87971-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87971\" class=\"content-area-description single-story post-87971 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">JANUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">16-18 January (Tuesday-Thursday): iFX EXPO Dubai 2024, Dubai World Trade Centre. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">19 January (Friday): The Abu Dhabi Extreme Championship 2 (ADXC 2), Mubadala Arena. <\/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 (Sunday-Tuesday): World of Coffee Dubai, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23-25 January (Tuesday-Thursday): The Unmanned Systems Exhibition (UMEX) and the Simulation and Training Exhibition (SimTEX), Abu Dhabi National Exhibition Centre (ADNEC), Abu Dhabi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26-28 January (Friday-Sunday): Dubai Challenge Cup, Al Maktoum Stadium, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29 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>1 <\/span><span>February (Thursday): New amendments banning trucks weighing over 65 tonnes to take effect. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-4 February (Friday-Sunday): Sharjah Classic Cars Festival. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9 February (Friday): Abu Dhabi International Airport to be renamed to Zayed International<\/span><span style=\"font-weight:400;\"> Airport.<\/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>26-29 February (Monday-Thursday): 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: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: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>2-4 June (Sunday-Tuesday): The World Air Transport Summit and International Air Transport Association (IATA)\u2019s annual general meeting, Dubai.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4-6 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:400;\">28-30 September (Saturday-Monday): World Association of Nuclear Operators (WANO) Biennial General Meeting, 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\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>FAB\u2019s sukuk | ADQ\u2019s Egypt hotel buy | Two big healthcare M&#038;A | UAE home prices rise fastest in the world | Abu Dhabi gets new medical city<\/p>\n","protected":false},"featured_media":87941,"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-87940","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"4e015310-a944-40fe-9098-000af8aa90a3","teaser":"FAB\u2019s sukuk | ADQ\u2019s Egypt hotel buy | Two big healthcare M&A | UAE home prices rise fastest in the world | Abu Dhabi gets new medical city","photo_url":"https:\/\/ent.news\/2024\/1\/919.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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