{"id":88584,"date":"2024-02-01T00:00:00","date_gmt":"2024-02-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=88584"},"modified":"2025-12-14T23:22:10","modified_gmt":"2025-12-14T23:22:10","slug":"economic-diversification-to-drive-5-7-growth-this-year-finmin-says","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/economic-diversification-to-drive-5-7-growth-this-year-finmin-says\/","title":{"rendered":"Economic diversification to drive 5.7% growth this year, FinMin says"},"content":{"rendered":"<section id=\"88586\" 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=\"88586\">\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\/02\/01\/arab-health-2024-wraps-today-the-abu-dhabi-arbitration-center-goes-live\/\">\r\n                            THIS MORNING: Arab Health 2024 wraps today + The Abu Dhabi Arbitration Center goes live                        <\/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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href=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/arab-health-2024-wraps-today-the-abu-dhabi-arbitration-center-goes-live\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/200.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"88587\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/arab-health-2024-wraps-today-the-abu-dhabi-arbitration-center-goes-live\/200-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/200.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"200.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/200.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/200.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88586\" class=\"content-area-description single-story post-88586 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-abu-dhabi-arbitration-center tag-dubai tag-energy tag-enterpriseam-uae tag-mashreq tag-real-estate tag-sharjah tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.cdc93d85-8def-49ce-9f52-b94480bf5609.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, ladies and gents.<\/strong> We bring you yet another meaty issue today, with everything from fresh economic growth projections to more updates from the penultimate day of Arab Health 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY here at home is the Finance Ministry\u2019s expectation that continued <\/strong><strong>economic diversification<\/strong> will drive the economy to grow 5.3% this year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have the full rundown on this story and others in this morning\u2019s news well, below.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TODAY IS THE START OF A NEW MONTH- <\/strong>Here are the key news triggers on which to keep your eyes on during the first few weeks of February. <\/p>\n<ul>\n<li><strong>PMI:<\/strong> S&P Global will publish the UAE\u2019s PMI figures for January on Monday, 5 February, while Dubai\u2019s figures will be out on Thursday, 8 February.<\/li>\n<\/ul>\n<p class=\"tag-border-left\">PUBLIC SERVICE ANNOUNCEMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- You\u2019re going to be paying more at the pump starting today:<\/strong> The Energy Ministry\u2019s Fuel Pricing Committee <a target=\"_blank\" href=\"https:\/\/twitter.com\/EmaratOfficial\/status\/1752613886795149329\" style=\"\" rel=\"noopener\">increased<\/a> retail fuel prices for February yesterday, following three consecutive months of slashing prices. The rundown:<\/p>\n<ul>\n<li>Super 98 is now AED 2.88 per liter, up 2.1%;<\/li>\n<li>Special 95 is now AED 2.76 per liter, up 1.8%;<\/li>\n<li>E-Plus 91 is AED 2.69 per liter, up almost 2%;<\/li>\n<li>Diesel is adjusted to AED 2.99 per liter, down 0.33%.<\/li>\n<\/ul>\n<p class=\"tag-border-left\"> HAPPENING TODAY-<\/p>\n<p><a id=\"wwtt2\"><\/a><strong>#1- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.arabhealthonline.com\/en\/Home.html\" style=\"\" rel=\"noopener\">Arab Health Exhibition 2024<\/a><\/strong><strong> concludes today<\/strong> in Dubai. Arab Health is one of the two largest regional healthcare conferences to take place every year. It takes place at Dubai World Trade Center.<strong><\/p>\n<p><\/strong><a id=\"wwtt3\"><\/a> <strong>#2- The <\/strong><strong>Abu Dhabi Arbitration Center is live:<\/strong> The Abu Dhabi International Arbitration Centre (arbitrateAD) launches today, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b1e9btv-arbitratead-launch-operations-feburary\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The center\u2019s team includes Arnold & Porter Global Chair of International Arbitration Practice Maria Chedid (<a target=\"_blank\" href=\"https:\/\/www.arnoldporter.com\/en\/people\/c\/chedid-maria\" style=\"\" rel=\"noopener\">bio<\/a>), who will serve as the first woman president of an arbitral court in the region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- OPEC+ members will review the oil cartel\u2019s ongoing production cuts <\/strong>during a Joint Ministerial Monitoring Committee today, Reuters <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/opec-unlikely-decide-oil-policy-feb-1-will-wait-several-weeks-sources-2024-01-26\/\" style=\"\" rel=\"noopener\">reports<\/a>. But don\u2019t expect any breaking news from the meeting, as several OPEC+ sources told the newswire that they expect any decisions regarding extending production cuts into April to come later in the month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- <\/strong><strong>Trucks weighing over 65 tonnes will be subject to fines of up to AED 15k if they operate on federal roads as of today.<\/strong> That\u2019s when the four-month grace period on the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/cbe61cdc-a66b-4863-8569-3c89de34a45e\/\" style=\"\" rel=\"noopener\">amended federal law<\/a> on heavy vehicles elapses. The amendments, which came into effect on 1 October, granted a four-month window for vehicle owners and companies to adjust before penalties came into force. All heavy vehicles operating on the roads fall under the law\u2019s purview, with only security, military, police, and civil defense vehicles exempt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Emiratis traveling to the UK can apply for entry using the newly introduced electronic <\/strong><strong>travel authorization (ETA) starting today<\/strong>, the <a target=\"_blank\" href=\"https:\/\/twitter.com\/UAEEmbassyUK\/status\/1750094779755405458?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1750094779755405458%7Ctwgr%5Eed3ea5f1011987ca227db0fa62255cfc597458e6%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.aletihad.ae%2Fnews%2FD8A7D984D8A5D985D8A7D8B1D8A7D8AA%2F4458715%2FD8A5D8B9D981D8A7D8A1-D8A7D984D8A5D985D8A7D8B1D8A7D8AAD98AD98AD986-D985D986-D8A7D984D8ADD8B5D988D984-D8B9D984D989-D8AAD8A3D8B4D98AD8B1D8A9-D8AFD8AED988D984-D985D8B3D8A8D982D8A9-D984D984D8B3D981D8B1-D8A5D984D989\" style=\"\" rel=\"noopener\">UAE Embassy in London said<\/a>. The ETA will allow Emiratis to travel an unlimited number of times within the span of two years for GBP 10. You can apply <a target=\"_blank\" href=\"https:\/\/t.co\/e10f5X62Zv\" 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>REMEMBER-<\/strong> An ETA only allows you to travel to the destination, but you will still need to obtain approval for entry into the UK through an eGate or a border force officer, <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/uae\/uae-no-pre-entry-visa-needed-for-citizens-travelling-to-uk\" style=\"\" rel=\"noopener\">Khaleej Times<\/a> notes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6-<\/strong><strong> Our friends at Mashreq are calling for nominations for its board of directors<\/strong>, with the period for submission open from today to Monday, 12 February, the bank said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/2788.pdf\" style=\"\" rel=\"noopener\">bourse disclosure (pdf)<\/a>. The bank will be electing seven new members, according to the disclosure. <\/p>\n\n<p class=\"tag-border-left\"> HAPPENING SOON-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ramadan could start as early as Monday, 11 March<\/strong>, <a target=\"_blank\" href=\"https:\/\/gulfbusiness.com\/when-is-ramadan-2024-calendar-and-timings-for-the-holy-month\/\" style=\"\" rel=\"noopener\">Gulf Business<\/a> reports, citing <a target=\"_blank\" href=\"https:\/\/www.uaeas.ae\/\" style=\"\" rel=\"noopener\">Emirates Astronomical Society<\/a> Chairman Ibrahim Al Jarwan. Dubai\u2019s <a target=\"_blank\" href=\"https:\/\/www.iacad.gov.ae\/en\" style=\"\" rel=\"noopener\">Islamic Affairs and Charitable Activities Department<\/a> had <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/uae\/2023\/07\/12\/ramadan-2024-to-fall-on-march-12-next-year-astronomer-predicts\/\" style=\"\" rel=\"noopener\">previously<\/a> noted the start of the holy month would land on Tuesday, 12 March, but it all depends on the moon, with the UAE\u2019s moon-sighting committee readying to head to the telescopes when it\u2019s almost time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One thing\u2019s certain, though: Fasting will last 29 days<\/strong>, bringing Ramadan to an end on either Tuesday, 9 April or Wednesday, 10 April, depending on which predictions you\u2019re trusting, Gulf Business also reports. The Human Resources Ministry will confirm the date of Eid Al Fitr \u2014 and its accompanying week-long holiday \u2014 during the fasting month.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"uae\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DATA POINT-<\/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- Oil stockpiles at Fujairah Port slumped to a five-week low<\/strong>, falling 4.5% week-on-week during the week ending on 29 January, on the back of jet fuel inventories dropping 21%, according to <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/commodityinsights\/en\/market-insights\/latest-news\/oil\/013124-fujairah-data-oil-products-stockpiles-fall-to-five-week-low-as-exports-rise\" style=\"\" rel=\"noopener\">S&P Global<\/a>. However, total stockpiles have inched up by 2.1% y-o-y since the end of 2023. Oil exports \u2014 not including fuel oil \u2014 climbed 12% m-o-m, reaching 414k barrels per day in January.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Sharjah\u2019s real estate transactions rose 13.1% y-o-y in 2023 to reach AED 27.1 <\/strong><strong>bn<\/strong>, the highest level since 2017, <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4241605\/27-1-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D8%B1%D9%87%D9%85-%D9%82%D9%8A%D9%85%D8%A9-%D8%A7%D9%84%D8%AA%D8%AF%D8%A7%D9%88%D9%84%D8%A7%D8%AA-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1%D9%8A%D8%A9-%D8%A8%D8%A5%D9%85%D8%A7%D8%B1%D8%A9-%D8%A7%D9%84%D8%B4%D8%A7%D8%B1%D9%82%D8%A9-%D8%AE%D9%84%D8%A7%D9%84-2023\/?currentUserCountryCode=--\" style=\"\" rel=\"noopener\">Mubasher<\/a> reports. The number of investors\u2019 nationalities rose 21.2% y-o-y to 103 during the year, with the number of non-Arab foreign investors rising 165% in trading volume.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Dubai is set to defy the trend of a global slump in luxury residence prices<\/strong>, with prices in the Emirate expected to rise 5.9%, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-31\/housing-prices-hong-kong-new-york-san-francisco-to-weigh-on-values\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing a Savills report. Despite an anticipated slowdown in prime residential markets worldwide, Dubai is expected to experience a growth in prices by 5.9%. The report expects major cities including Hong Kong, New York, and San Francisco to see a slowdown in high-end residential property value growth this year, penciling in a 0.6% growth rate compared to 2.2% in 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two big stories are vying for your attention this morning<\/strong>, one of them in our neighborhood, and one in the US of A. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#1- Is Egypt about to devalue its currency? <\/strong>Speculation is rampant in Cairo that the Sisi administration is closing in on a much larger financing agreement with the International Monetary Fund, giving it as USD 9 bn or more in funding over a multi-year period in return for a commitment to reforms including devaluing (or floating) its embattled currency. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egyptian shares closed sharply down yesterday <\/strong>as traders \u201cadopted a \u2018sell the fact\u2019 mood, with equities being sold off as rumors about an impending pound depreciation intensify,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-31\/egyptian-stocks-plunge-while-devaluation-bets-build-up\" style=\"\" rel=\"noopener\">Bloomberg<\/a> writes, citing Dubai-based Emre Akcakmak, a portfolio manager at East Capital International. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Egypt has <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08f51e36-cd3a-411d-a974-659fd3601066\" style=\"\" rel=\"noopener\">reported<\/a><\/strong><strong> that an IMF delegation in Cairo has extended its stay <\/strong><strong>until today <\/strong>in the hope of reaching a staff-level agreement. The news comes as Egypt\u2019s central bank moved to sop up excess local-currency liquidity in the market amid long lines at banks, reminding financial institutions yesterday of longstanding limits on cash withdrawals for both companies and individuals. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The US Federal Reserve has <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20240131a.htm\" style=\"\" rel=\"noopener\">left rates unchanged<\/a><\/strong><strong> \u2014 and signaled that a rate cut in <\/strong><strong>March is unlikely. <\/strong>It\u2019s the fourth meeting in a row to see the Fed leave rates at a nearly 23-year high of 5.25%-5.50%. \u201cBased on the meeting today, I would tell you that I don\u2019t think it\u2019s likely that the committee will reach a level of confidence by the time of the March meeting,\u201d Fed boss Jay Powell said at a presser after the meeting. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story is on every front page this morning: <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/feds-faith-immaculate-disinflation-narrative-put-test-2024-01-31\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b4b16898-5f6a-4b0e-9651-c48dd64400e2\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/01\/31\/fed-meeting-today-live-updates.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/fed-meeting-fomc-interest-rate-january-2024\" style=\"\" rel=\"noopener\">WSJ<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/live\/federal-reserve-interest-rate-updates\" style=\"\" rel=\"noopener\">Associated<\/a><a target=\"_blank\" href=\"https:\/\/apnews.com\/live\/federal-reserve-interest-rate-updates\" style=\"\" rel=\"noopener\">Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/01\/31\/business\/fed-meeting-interest-rates\" style=\"\" rel=\"noopener\">NYT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-31\/fed-holds-rates-steady-and-inches-closer-to-cutting-in-future\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- On the issue of regional tensions and the Red Sea:<\/strong><\/p>\n<ul>\n<li><strong>Iran has threatened a \u201cdecisive response\u201d if the US strikes its \u201cterritory, or its <\/strong><strong>interests or citizens abroad,\u201d<\/strong> Iran\u2019s UN Ambassador Amir Saeid Iravani said, according to <a target=\"_blank\" href=\"https:\/\/en.irna.ir\/news\/85371112\/Any-attack-on-country-will-be-met-with-decisive-response-Iran\" style=\"\" rel=\"noopener\">Iranian state media<\/a>. The statement came as the US Navy <a target=\"_blank\" href=\"https:\/\/twitter.com\/CENTCOM\/status\/1752765805501284588\" style=\"\" rel=\"noopener\">launched another attack<\/a> against Houthi infrastructure in Yemen.<\/li>\n<li><strong>The European Union is set to send ships into the Red Sea by mid-February<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/eus-borrell-hopes-lead-eu-red-sea-mission-will-be-known-soon-2024-01-31\/\" style=\"\" rel=\"noopener\">Reuters<\/a> writes, in a bid to help deter Houthi attacks on shipping. EU forces will not participate in attacks on Houthi positions, the bloc\u2019s foreign policy chief added.<\/li>\n<\/ul>\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\">Conference season is heating up:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/fort.global\/\" style=\"\" rel=\"noopener\">Family Office Roundtable (FORT)<\/a><\/strong><strong> Global<\/strong> this Friday, 2 February at the Museum of the Future, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/dubai-welcomes-fort-global-a-2trln-family-office-transformation-l7hlpfo7\" style=\"\" rel=\"noopener\">press release<\/a>. The invite-only event will center discussions on the international finance and investment communities, influential family offices, government members and dignitaries, with nearly 10k guests, hailing from over 35 countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.mubadalaabudhabiopen.com\/tickets\/\" style=\"\" rel=\"noopener\">Mubadala Abu Dhabi Tennis Open<\/a><\/strong><strong> will take place from Saturday, 3 February<\/strong> to Sunday, 11 February at Zayed Sports City's International Tennis Centre. The tournament will feature big names including four-time Grand Slam champion Naomi Osaka, plus Elena Rybakina, Ons Jabeur, Maria Sakkari, and Barbora Krej\u010d\u00edkov\u00e1, reports <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/sport\/tennis\/2024\/01\/22\/naomi-osaka-accepts-wildcard-for-mubadala-abu-dhabi-open\/\" style=\"\" rel=\"noopener\">The National<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Young entrepreneurs can pitch early-education startup ideas at the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/adycstartupweekend.org\/\" style=\"\" rel=\"noopener\">Abu<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/adycstartupweekend.org\/\" style=\"\" rel=\"noopener\">Dhabi Youth Challenge: Techstars Startup Weekend<\/a><\/strong>, running for three days from Friday, 2 February, to Sunday, 4 February at <a target=\"_blank\" href=\"https:\/\/www.cloudspaces.ae\/abu-dhabi-global-market\" style=\"\" rel=\"noopener\">Cloud Spaces ADGM<\/a> in Abu Dhabi. The top three teams will get AED 30k. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/investopia.ae\/\" style=\"\" rel=\"noopener\">Investopia Summit<\/a><\/strong><strong> will take place from Wednesday, 28 February, to Thursday, <\/strong><strong>29 February<\/strong>, in Abu Dhabi. The two-day event will run under the theme \u201cEmerging Economic Frontiers: Investing in Fast-Growing Sectors in the New Economy,\u201d gathering investors, government officials, and entrepreneurs to explore investments in strategic markets.<\/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 at the bottom of the email<\/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\/abu-dhabi-arbitration-center\/\">Abu Dhabi Arbitration Center<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mashreq\/\">Mashreq<\/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\/sharjah\/\">Sharjah<\/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=\"88588\" 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=\"88588\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/economy-to-expand-5-7-in-2024-finmin-undersecretary\/\">\r\n                            UAE economy to grow by 5.7% in 2024, says FinMin undersecretary                        <\/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\/02\/01\/economy-to-expand-5-7-in-2024-finmin-undersecretary\/\" 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\/02\/01\/economy-to-expand-5-7-in-2024-finmin-undersecretary\/')\">\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\/02\/01\/economy-to-expand-5-7-in-2024-finmin-undersecretary\/\">\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=Economy to expand 5.7% in 2024 -FinMin undersecretary&url=https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/economy-to-expand-5-7-in-2024-finmin-undersecretary\/\">\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\/02\/01\/economy-to-expand-5-7-in-2024-finmin-undersecretary\/&title=Economy to expand 5.7% in 2024 -FinMin undersecretary\">\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=Economy+to+expand+5.7%25+in+2024+-FinMin+undersecretary+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F02%2F01%2Feconomy-to-expand-5-7-in-2024-finmin-undersecretary%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\/02\/01\/economy-to-expand-5-7-in-2024-finmin-undersecretary\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2698.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"88589\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/economy-to-expand-5-7-in-2024-finmin-undersecretary\/2698-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2698.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2698.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2698.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2698.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88588\" class=\"content-area-description single-story post-88588 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-uae tag-finance-ministry tag-gdp 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\/2\/.49779e70-5ba8-4a7e-9d31-72e73fe0b81f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Finance Ministry expects the economy to grow at a 5.3% clip this year<\/strong>, up from its 3.1% forecast for 2023, driven by economic diversification efforts, Finance Ministry Undersecretary Younis Haji Al Khouri told <a target=\"_blank\" href=\"https:\/\/wam.ae\/ar\/article\/b1ffyrm-%D9%88%D9%83%D9%8A%D9%84-%D9%88%D8%B2%D8%A7%D8%B1%D8%A9-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D9%88%D8%A7%D9%85-57-%D9%86%D9%85%D9%88-%D9%85%D8%AA%D9%88%D9%82%D8%B9-%D9%84%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\" style=\"\" rel=\"noopener\">Wam<\/a>. Non-oil GDP is expected to grow at a 4.7% y-o-y clip in 2024, Al Khouri said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The projection is slightly more bullish than most others: <\/strong>The World Bank expects to see 3.7% growth in 2024, up from the previous estimate of 3.4% in the June edition of its report, while The Arab Monetary Fund sees the GDP <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a8f893dd-eee1-4bc3-b44b-34f79d4862ed\" style=\"\" rel=\"noopener\">growing at a 4.3% clip<\/a>. On the more bullish side, S&P Global is more in line with FinMin\u2019s forecast, saying <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/82342bed-947d-41ed-9499-33132df1f9fd\" style=\"\" rel=\"noopener\">earlier this month<\/a> that the economy could accelerate to more than 5%. The Central Bank of the UAE is even more bullish, saying last month it sees the economy growing at a 5.7% clip.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The non-oil GDP projection is also more bullish: <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2023\/10\/13\/pr23351-uae-imf-staff-concludes-visit#:~:text=%E2%80%9CThe%20economy%20continues%20to%20grow%2C%20benefitting%20from%20strong%20domestic%20activity.%20Non%2Dhydrocarbon%20GDP%20growth%20is%20expected%20to%20exceed%204%20percent%20this%20year%20and%20to%20remain%20at%20a%20similar%20pace%20in%202024%2C%20driven%20by%20tourism%2C%20construction%2C%20and%20real%20estate%20related%20developments.\" style=\"\" rel=\"noopener\">International Monetary Fund<\/a> sees the non-oil sector maintaining its 4% growth in 2024, while <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/64f0d406-ad8f-41f8-b5bb-f332c73b919c\" style=\"\" rel=\"noopener\">Oxford Economics<\/a> expects non-oil GDP to grow 3.8% in 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- The positive growth outlook for the Emirates\u2019 economy comes amid expectations <\/strong><strong>of a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/Publications\/WEO#:~:text=Description%3A%20Global,been%20revised%20down.\" style=\"\" rel=\"noopener\">global economic slowdown<\/a><\/strong>, with the IMF <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e445f0ba-ca93-408c-b037-387df1c073ff\" style=\"\" rel=\"noopener\">slashing its outlook<\/a> for the regional economy to 2.9% in FY 2023-24, marking a 0.5% downgrade from its previous outlook in October on the back of Saudi Arabia\u2019s temporary oil cuts, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/2619.pdf\" style=\"\" rel=\"noopener\">latest update (pdf)<\/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\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"88590\" 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=\"88590\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/central-bank-keeps-rates-steady-following-fed-decision\/\">\r\n                            Central Bank keeps rates steady following Fed decision                        <\/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\/02\/01\/central-bank-keeps-rates-steady-following-fed-decision\/\" 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\/02\/01\/central-bank-keeps-rates-steady-following-fed-decision\/')\">\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\/02\/01\/central-bank-keeps-rates-steady-following-fed-decision\/\">\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=Central bank keeps rates steady following Fed decision&url=https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/central-bank-keeps-rates-steady-following-fed-decision\/\">\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\/02\/01\/central-bank-keeps-rates-steady-following-fed-decision\/&title=Central bank keeps rates steady following Fed decision\">\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=Central+bank+keeps+rates+steady+following+Fed+decision+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F02%2F01%2Fcentral-bank-keeps-rates-steady-following-fed-decision%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\/02\/01\/central-bank-keeps-rates-steady-following-fed-decision\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2590.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"88591\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/central-bank-keeps-rates-steady-following-fed-decision\/2590-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2590.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2590.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2590.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2590.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88590\" class=\"content-area-description single-story post-88590 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-uae tag-interest-rates tag-us-federal-reserve 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\/2\/.529d425e-634b-4486-a5ae-021e4c944148.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Central Bank of the UAE (CBUAE) kept interest rates steady<\/strong> after the US Federal Reserve also left interest rates unchanged yesterday, CBUAE said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/10.pdf\" style=\"\" rel=\"noopener\">a statement (pdf)<\/a>. The central bank kept its overnight deposit rate at 5.40% and the overnight lending rate at 5.90%, 50 basis points above the base rate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The UAE\u2019s overnight deposit rate, or the base rate on overnight deposit facilities, is anchored to the US Federal Reserve\u2019s interest rates as the AED is pegged to the USD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia followed suit, too:<\/strong> The Saudi Central Bank (SAMA), which also maintains a currency peg to the USD, left its lending rates unchanged.<\/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\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/us-federal-reserve\/\">US Federal Reserve<\/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=\"88592 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=\"88592\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/88592-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88592\" class=\"content-area-description single-story post-88592 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=\"88593\" 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=\"88593\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/emirates-nbd-to-lend-sidara-an-aed-183-65-mn-sustainability-linked-loan\/\">\r\n                            Emirates NBD to lend Sidara an AED 183.65 mn sustainability-linked loan                        <\/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\/02\/01\/emirates-nbd-to-lend-sidara-an-aed-183-65-mn-sustainability-linked-loan\/\" 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\/02\/01\/emirates-nbd-to-lend-sidara-an-aed-183-65-mn-sustainability-linked-loan\/')\">\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\/02\/01\/emirates-nbd-to-lend-sidara-an-aed-183-65-mn-sustainability-linked-loan\/\">\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=Emirates NBD to lend Sidara an AED 183.65 mn sustainability-linked loan&url=https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/emirates-nbd-to-lend-sidara-an-aed-183-65-mn-sustainability-linked-loan\/\">\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\/02\/01\/emirates-nbd-to-lend-sidara-an-aed-183-65-mn-sustainability-linked-loan\/&title=Emirates NBD to lend Sidara an AED 183.65 mn sustainability-linked loan\">\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=Emirates+NBD+to+lend+Sidara+an+AED+183.65+mn+sustainability-linked+loan+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F02%2F01%2Femirates-nbd-to-lend-sidara-an-aed-183-65-mn-sustainability-linked-loan%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\/02\/01\/emirates-nbd-to-lend-sidara-an-aed-183-65-mn-sustainability-linked-loan\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88593\" class=\"content-area-description single-story post-88593 post type-post status-publish format-standard hentry category-debt-watch tag-banking tag-debt-watch tag-emirates-nbd tag-enterpriseam-uae tag-green-finance tag-infrastructure tag-sidara 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\/2\/.b988724f-acf0-4e9a-84aa-ff05d4b85bf1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong><a target=\"_blank\" href=\"https:\/\/www.emiratesnbd.com\/en\" style=\"\" rel=\"noopener\">Emirates NBD<\/a><\/strong><strong> will extend an AED 183.65 mn sustainability-linked loan (SLL) to infrastructure firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.sidaracollaborative.com\/\" style=\"\" rel=\"noopener\">Sidara<\/a><\/strong><strong> (formerly Dar Group)<\/strong>, according to a Dubai Media Office <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/January\/31-01\/Emirates-NBD-Facilitate\" style=\"\" rel=\"noopener\">statement<\/a>. This agreement marks Sidara\u2019s first sustainability-linked loan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The loan will fund Sidara\u2019s working capital requirements<\/strong>, including its efforts towards meeting net-zero targets, by \u201ctying financial incentives to its sustainability performance,\u201d the statement said, without clarifying the exact nature of the incentives. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>SLLs link loan interest and fees to the borrower\u2019s performance in meeting predetermined sustainability targets. A lender might reduce interest rate margins if the borrower checks off agreed-upon emission targets or upcharge them if they don\u2019t. Before inking the agreement, the parties typically hash out the targets and performance measurement indicators.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not the first SLL that Emirates NBD has handed out: <\/strong>The Dubai-based bank raised AED 6.43 tn (USD 1.75 bn) for the GCC\u2019s first loan back in March 2021, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-30\/dubai-s-top-bank-is-said-to-raise-gulf-s-first-sustainable-loan\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported previously. The loan saw participation from nearly 20 banks and linked sustainability metrics, including water conservation and gender diversity in top management roles, with the payouts. In <a target=\"_blank\" href=\"https:\/\/www.chalhoubgroup.com\/en\/blogs\/256\/emirates-nbd-arranges-sustainability-linked-short-term-loan-with-chalhoub-group\" style=\"\" rel=\"noopener\">December<\/a>, the bank also signed an agreement with UAE-based luxury retailer <a target=\"_blank\" href=\"https:\/\/www.chalhoubgroup.com\/\" style=\"\" rel=\"noopener\">Chalhoub Group<\/a> for the firm\u2019s first loan, although the value of the loan was undisclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>London-based Dar Group recently <a target=\"_blank\" href=\"https:\/\/www.sidaracollaborative.com\/article-1.html\" style=\"\" rel=\"noopener\">rebranded<\/a> to Sidara, a holding firm with 17 brands under its belt, including Middle East-focused Dar. The company has worked on projects like <a target=\"_blank\" href=\"https:\/\/www.sidaracollaborative.com\/projects-inside-2.html\" style=\"\" rel=\"noopener\">Doha Hamad International Airport<\/a>, <a target=\"_blank\" href=\"https:\/\/www.sidaracollaborative.com\/projects-inside-9.html\" style=\"\" rel=\"noopener\">Al Wasl Plaza<\/a> at Dubai\u2019s Expo 2020, and the <a target=\"_blank\" href=\"https:\/\/www.sidaracollaborative.com\/projects-inside-27.html\" style=\"\" rel=\"noopener\">University of Dubai<\/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\/banking\/\">banking<\/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\/emirates-nbd\/\">Emirates NBD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/green-finance\/\">green finance<\/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\/sidara\/\">Sidara<\/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=\"88594\" 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=\"88594\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/five-holdings-bags-spanish-company-chioro-for-aed-210-26-mn\/\">\r\n                            Five Holdings bags Spanish company Chioro for AED 210.26 mn                        <\/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\/02\/01\/five-holdings-bags-spanish-company-chioro-for-aed-210-26-mn\/\" 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\/02\/01\/five-holdings-bags-spanish-company-chioro-for-aed-210-26-mn\/')\">\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\/02\/01\/five-holdings-bags-spanish-company-chioro-for-aed-210-26-mn\/\">\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=Five Holdings bags Spanish company Chioro for AED 210.26 mn&url=https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/five-holdings-bags-spanish-company-chioro-for-aed-210-26-mn\/\">\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\/02\/01\/five-holdings-bags-spanish-company-chioro-for-aed-210-26-mn\/&title=Five Holdings bags Spanish company Chioro for AED 210.26 mn\">\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=Five+Holdings+bags+Spanish+company+Chioro+for+AED+210.26+mn+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F02%2F01%2Ffive-holdings-bags-spanish-company-chioro-for-aed-210-26-mn%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\/02\/01\/five-holdings-bags-spanish-company-chioro-for-aed-210-26-mn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2756.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"88595\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/five-holdings-bags-spanish-company-chioro-for-aed-210-26-mn\/2756-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2756.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2756.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2756.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2756.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88594\" class=\"content-area-description single-story post-88594 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-dubai tag-enterpriseam-uae tag-five-holdings tag-hospitality tag-ma-watch 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\/2\/.1d78b494-704e-4781-9939-4c26708d918d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Dubai-based real estate and hospitality group <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.fiveglobalholdings.com\/\" style=\"\" rel=\"noopener\">Five Holdings<\/a><\/strong><strong> completed the acquisition of <\/strong><strong>Spanish company Chioro for AED 210.26 mn (EUR 52.75 mn)<\/strong>, in a bid to diversify its property portfolio, according to a <a target=\"_blank\" href=\"https:\/\/www.nasdaqdubai.com\/trading\/disclosures\/210efcb9-0915-4606-bf1f-fedbce9b9c93\" style=\"\" rel=\"noopener\">Nasdaq Dubai disclosure<\/a>. The purchase agreement hands Five ownership of El Hotel Pacha in Ibiza and its adjacent land plot, the statement said, adding that it previously had leasing rights to the hotel. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Five\u2019s plans in Ibiza:<\/strong> The company is looking to develop the land plot into a residential development dubbed Pacha Residences.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Payment plan: <\/strong>Five Holdings is shelling out some AED 44.8 mn (EUR 11.3 mn) in equity financing for the purchase, with a deferred payment plan additionally set up for AED 15.9 mn (EUR 4 mn). The remaining AED 149.4 mn (EUR 37.5 mn) will come from an external loan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Pacha brand is not new to Five: <\/strong>Five Holdings previously acquired Spanish hospitality company <a target=\"_blank\" href=\"https:\/\/www.grupopacha.com\/\" style=\"\" rel=\"noopener\">Pacha Group<\/a> for AED 1.21 bn (EUR 303 mn) in <a target=\"_blank\" href=\"https:\/\/www.nasdaq.com\/articles\/dubai-hospitality-group-five-holdings-completes-$322-mln-pacha-group-deal\" style=\"\" rel=\"noopener\">October<\/a>, funded via a green bond issuance and revolving credit facility. The purchase handed Five Holdings\u2019 ownership of the Pacha Nightclub in Spain\u2019s Ibiza island, in addition to Destino Pacha Hotel. <\/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\">OTHER M&A NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AD Ports Group\u2019s logistics subsidiary <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.noatumlogistics.com\/\" style=\"\" rel=\"noopener\">Noatum<\/a><\/strong><strong> has completed its acquisition of 100% of Spain-based<\/strong><strong> logistics outfit <\/strong><strong><a target=\"_blank\" href=\"https:\/\/gruposese.com\/en\/finished-vehicles-transport\/\" style=\"\" rel=\"noopener\">Ses\u00e9 Auto Logistics<\/a><\/strong><strong>for <\/strong><strong>EUR 81 mn<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.adportsgroup.com\/en\/news-and-media\/2024\/01\/31\/noatum-successfully-completes-the-acquisition-of-sese-auto-logistics\" style=\"\" rel=\"noopener\">press release<\/a>. The acquisition has been sanctioned by all European regulatory bodies. We first got wind of the buyout in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/35686592-230a-46b3-885d-0400f8407680\" style=\"\" rel=\"noopener\">October 2023<\/a>, when the move was still pending regulatory approval. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What happens next?<\/strong> Ses\u00e9 Auto Logistic will be fully integrated into Noatum starting this month, according to the statement. The acquisition will allow the AD Ports subsidiary to offer integrated end-to-end logistics solutions, including RoRo (roll-on, roll-off) handling, vehicle transportation, and delivery in Spain. The outfit will be rebranded as Noatum Auto Logistics, with efforts to integrate employees ongoing, the statement said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About <\/strong><strong>Ses\u00e9:<\/strong>The company operates in most European countries, with a fleet of upwards of 200 trucks, with offices in Spain, Germany, Poland, Czech Republic, and Hungary.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Noatum has been on an expansion spree:<\/strong> The outfit rebranded AD Ports\u2019 freight-forwarding arm Micco Logistics to Noatum Logistics Middle East <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/2ccc6a0e-0ecb-421f-9051-8eaf411f95f5\" style=\"\" rel=\"noopener\">earlier this week<\/a>, taking over Micco\u2019s operations as the freight forwarder for upwards of 80% of Abu Dhabi\u2019s oil, gas, and petrochemical projects. Noatum acquired 100% of <a target=\"_blank\" href=\"https:\/\/www.apmterminals.com\/en\/castellon\/about\/our-terminal\" style=\"\" rel=\"noopener\">APM Terminals Castell\u00f3n<\/a> in Spain for EUR 10 mn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/8469a038-dcfd-490d-b8c0-e7fa3322fa04\" style=\"\" rel=\"noopener\">earlier this month<\/a>, as the company looked to consolidate its operations in the country. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> AD Ports Group finalized its acquisition of Spain-based Noatum in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/8edf9e4b-0ac1-4f35-af51-9d8b15bba502\" style=\"\" rel=\"noopener\">mid-2023<\/a>, after receiving regulatory greenlight, with the outfit being valued at EUR 660 mn at the time.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/five-holdings\/\">Five Holdings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A 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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"88596\" 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=\"88596\">\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\">HEALTHCARE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/dha-introduces-three-month-permit-for-medical-professionals-more-from-arab-health\/\">\r\n                            DHA introduces three-month permit for medical professionals + more from Arab Health                        <\/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\/02\/01\/dha-introduces-three-month-permit-for-medical-professionals-more-from-arab-health\/\" 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\/02\/01\/dha-introduces-three-month-permit-for-medical-professionals-more-from-arab-health\/')\">\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\/02\/01\/dha-introduces-three-month-permit-for-medical-professionals-more-from-arab-health\/\">\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=DHA introduces three-month permit for medical professionals + more from Arab Health&url=https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/dha-introduces-three-month-permit-for-medical-professionals-more-from-arab-health\/\">\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\/02\/01\/dha-introduces-three-month-permit-for-medical-professionals-more-from-arab-health\/&title=DHA introduces three-month permit for medical professionals + more from Arab Health\">\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=DHA+introduces+three-month+permit+for+medical+professionals+%2B+more+from+Arab+Health+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F02%2F01%2Fdha-introduces-three-month-permit-for-medical-professionals-more-from-arab-health%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\/02\/01\/dha-introduces-three-month-permit-for-medical-professionals-more-from-arab-health\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2718.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"88597\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/dha-introduces-three-month-permit-for-medical-professionals-more-from-arab-health\/2718-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2718.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2718.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2718.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2718.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88596\" class=\"content-area-description single-story post-88596 post type-post status-publish format-standard has-post-thumbnail hentry category-healthcare tag-enterpriseam-uae tag-healthcare tag-sustainability 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\/2\/.738d510f-fa19-4888-9221-3ad1d6805ab3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Dubai Health Authority has introduced a three-month permit for visiting <\/strong><strong>medical <\/strong><strong>professionals in the UAE <\/strong>during Arab Health 2024, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/uae\/health\/arab-health-dubai-launches-3-month-permit-to-practice-for-visiting-medical-professionals-1.100764421\" style=\"\" rel=\"noopener\">Gulf News<\/a> cites DHA Health Regulation Sector CEO Marwan Al Mulla as saying. Medical professionals cannot apply for the service directly, and will need to apply via the DHA\u2019s online licensing system <a target=\"_blank\" href=\"https:\/\/services.dha.gov.ae\/sheryan\/wps\/portal\/home\/!ut\/p\/z1\/dYzLCsIwFES_JtvcS4Qi7qIL6wOCC2m9G0klpsWYlDQa8OsNuBL07GY4M0DQAnn9HKxOQ_DalXyi6iw29boWK1SqEhIPankUYiexAA0QUFHwDxJhC2Rd6D5v0nezuQWK5mqiifwRS92nNE4LhgxzztyGYJ3hl3Bn-GvShylB-23CePOvvWnkG6VKbK0!\/dz\/d5\/L2dBISEvZ0FBIS9nQSEh\/\" style=\"\" rel=\"noopener\">Sheryan<\/a> with a licensed healthcare facility\u2019s medical director account. Approved permits are issued within one day. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pitch: <\/strong>The permit allows medical professionals to familiarize themselves with Dubai\u2019s local health regulations and begin the process of applying for a full professional license.<\/p>\n<p class=\"tag-border-left\">RESEARCH AND DEVELOPMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Health Ministry partnered with Dutch publishing company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.elsevier.com\/\" style=\"\" rel=\"noopener\">Elsevier<\/a><\/strong><strong> to launch a <\/strong><strong>health research platform <\/strong>housing over 43.8k papers contributed by 4k researchers, according to a <a target=\"_blank\" href=\"https:\/\/mohap.gov.ae\/en\/media-center\/news\/30\/1\/2024\/mohap-launches-the-regions-first-of-its-kind-health-research-platform-at-arab-health-2024\" style=\"\" rel=\"noopener\">ministry press release<\/a>. The platform will source data, including up-to-date health information and research, from Elsevier\u2019s <a target=\"_blank\" href=\"https:\/\/www.scopus.com\/\" style=\"\" rel=\"noopener\">Scopus<\/a> database.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DHA and the Hamdan bin Rashid Al Maktoum Foundation partner for healthcare <\/strong><strong>advancements: <\/strong>The Dubai Health Authority (DHA) and the Hamdan bin Rashid Al Maktoum Foundation inked an agreement during the Arab Health exhibition to cooperate in education, medical training, and specialized research, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b1fg719-dha-hamdan-bin-rashid-maktoum-foundation-for\" style=\"\" rel=\"noopener\">Wam<\/a> reports. This will include exchanging expertise, joint research, and organizing training programs and conferences.<\/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\">DECARBONIZATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Health Ministry is also launching a carbon footprint analysis project to<\/strong><strong>measure and cut carbon emissions in major healthcare facilities<\/strong>, a separate <a target=\"_blank\" href=\"https:\/\/mohap.gov.ae\/en\/media-center\/news\/30\/1\/2024\/mohap-uae-health-entities-unveil-carbon-footprint-analysis-in-uae-hospitals-project-at-arab\" style=\"\" rel=\"noopener\">ministry press release<\/a> reads. The ministry has already been using carbon footprint analysis to identify and measure greenhouse gas emissions in major UAE hospitals, including Sheikh Khalifa Medical City in Ajman and Sheikh Shakhbout Medical City in Abu Dhabi. <\/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\">PUBLIC SERVICE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some 313 schools in the country\u2019s northern emirates are going to be getting more<\/strong><strong> comprehensive healthcare services<\/strong> thanks to the Emirates Health Services\u2019 newly launched project, named Basma, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/emirates-health-services-basma-project-addresses-healthcare-requirements-in-313-schools-igqdpkgw\" style=\"\" rel=\"noopener\">press release<\/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\/healthcare\/\">Healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sustainability\/\">sustainability<\/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=\"88598\" 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=\"88598\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/issuing-fatwas-without-a-license-can-soon-cost-you-aed-10-200k\/\">\r\n                            Issuing fatwas without a license can soon cost you AED 10-200k                        <\/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\/02\/01\/issuing-fatwas-without-a-license-can-soon-cost-you-aed-10-200k\/\" 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\/02\/01\/issuing-fatwas-without-a-license-can-soon-cost-you-aed-10-200k\/')\">\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\/02\/01\/issuing-fatwas-without-a-license-can-soon-cost-you-aed-10-200k\/\">\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=Issuing fatwas without a license can soon cost you AED 10-200k&url=https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/issuing-fatwas-without-a-license-can-soon-cost-you-aed-10-200k\/\">\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\/02\/01\/issuing-fatwas-without-a-license-can-soon-cost-you-aed-10-200k\/&title=Issuing fatwas without a license can soon cost you AED 10-200k\">\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=Issuing+fatwas+without+a+license+can+soon+cost+you+AED+10-200k+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F02%2F01%2Fissuing-fatwas-without-a-license-can-soon-cost-you-aed-10-200k%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\/02\/01\/issuing-fatwas-without-a-license-can-soon-cost-you-aed-10-200k\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2781.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"88599\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/issuing-fatwas-without-a-license-can-soon-cost-you-aed-10-200k\/2781-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2781.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2781.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2781.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2781.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88598\" class=\"content-area-description single-story post-88598 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-enterpriseam-uae tag-law tag-legislation-watch tag-uae-council-for-fatwa 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\/2\/.5c48191c-7792-4cde-8246-0827dfec3b4a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Issuing fatwas without a license will come with a hefty fine:<\/strong> The Federal National Council (FNC) greenlit a new draft law that regulates the issuance of Islamic \u201cfatwas\u201d (religious edicts) in the Emirates, <a target=\"_blank\" href=\"https:\/\/www.emaratalyoum.com\/local-section\/other\/2024-01-31-1.1822217\" style=\"\" rel=\"noopener\">Emarat Al Youm<\/a> reports. The law deems the <a target=\"_blank\" href=\"https:\/\/fatwauae.gov.ae\/en\" style=\"\" rel=\"noopener\">UAE Council for Fatwa<\/a> the sole entity authorized to issue fatwas in the Emirates, and penalizes individuals and organizations who publish fatwas without a license. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The penalties:<\/strong>A range of AED 10k-200k worth of fines will be imposed for unauthorized issuance or publication of fatwas, as well as any public challenges to council-issued fatwas. The fines will also be imposed on fatwas that incite hatred, sectarianism or public discord within society. If a violation is repeated more than once, the penalty will be doubled. The court can also close a violating institution or block a website for up to one year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The law, proposed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c0772a11-20a0-4028-8b4d-d324e091075c\" style=\"\" rel=\"noopener\">earlier this month<\/a>, aims to reform the Fatwa Council and develop its framework to a more \u201cmodern model\u201d that responds to global developments, we reported earlier. <\/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\/law\/\">law<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/legislation-watch\/\">LEGISLATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-council-for-fatwa\/\">UAE Council for Fatwa<\/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=\"88600\" 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=\"88600\">\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\">INSURANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/the-uae-was-the-gccs-second-largest-ins-market-in-2022-alpen-says\/\">\r\n                            The UAE was the GCC\u2019s second-largest insurance market in 2022, Alpen says                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/the-uae-was-the-gccs-second-largest-ins-market-in-2022-alpen-says\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/the-uae-was-the-gccs-second-largest-ins-market-in-2022-alpen-says\/')\">\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\/02\/01\/the-uae-was-the-gccs-second-largest-ins-market-in-2022-alpen-says\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The UAE was the GCC\u2019s second-largest ins. market in 2022, Alpen says&url=https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/the-uae-was-the-gccs-second-largest-ins-market-in-2022-alpen-says\/\">\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\/02\/01\/the-uae-was-the-gccs-second-largest-ins-market-in-2022-alpen-says\/&title=The UAE was the GCC\u2019s second-largest ins. market in 2022, Alpen says\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+UAE+was+the+GCC%E2%80%99s+second-largest+ins.+market+in+2022%2C+Alpen+says+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F02%2F01%2Fthe-uae-was-the-gccs-second-largest-ins-market-in-2022-alpen-says%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\/02\/01\/the-uae-was-the-gccs-second-largest-ins-market-in-2022-alpen-says\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2795.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"88601\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/the-uae-was-the-gccs-second-largest-ins-market-in-2022-alpen-says\/2795-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2795.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2795.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2795.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2795.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88600\" class=\"content-area-description single-story post-88600 post type-post status-publish format-standard has-post-thumbnail hentry category-insurance tag-alpen-capital tag-enterpriseam-uae tag-healthcare tag-insurance 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\/2\/.3600eb0c-1839-4c7d-a237-a30a91518451.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The UAE was the second-largest ins. market in the GCC in 2022<\/strong> after Saudi Arabia, and 36th biggest globally in gross written premiums (GWP), according to UAE-based investment banking advisory firm Alpen Capital\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/2746.pdf\" style=\"\" rel=\"noopener\">GCC Ins. Industry report (pdf)<\/a>. This growth is attributed to favorable economic conditions, rising oil prices, eased visa regulations, and structural enhancements. The country accounted for 39.3% of the GCC's total GWPs in 2022, reaching USD 12.9 bn (AED 47 bn), primarily fueled by increases in property and liability and health ins. premiums.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>Gross written premiums are ins. lingo for premiums that ins. providers charge in exchange for taking on risk.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE had the highest penetration rates in both life and non-life ins. segments in the <\/strong><strong>GCC in 2022<\/strong>, with a total ins. penetration rate of 2.5%, higher than the GCC average of 1.5%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In terms of GWP:<\/strong> The UAE leads the GCC in the life ins. segment with a GWP of USD 2.8 bn in 2022. The non-life ins. sector in the UAE constituted 78.5% of the total GWP on the back of regulatory changes and higher ins. premium rates driven by a rise in claims post the covid-19 pandemic.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>LOOKING AHEAD-<\/strong><strong>The UAE\u2019s ins. market is poised to grow at an annual rate of 4.9% to USD 17.9 bn (AED 65.74) <\/strong><strong>by 2028<\/strong>, primarily driven by growth in the expansion of ins. to the northern emirates, the report said. The life ins. segment is expected to grow at a CAGR of 3.9% to USD 3.5 bn in 2028, as the population continues to grow while awareness of risk ins. and demand increase, Alpen said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>The UAE is rolling out its <a target=\"_blank\" href=\"https:\/\/u.ae\/en\/information-and-services\/jobs\/unemployment-insurance-scheme\" style=\"\" rel=\"noopener\">unemployment ins. scheme<\/a>, which is expected to attract more workers to the non-life ins. segment, Alpen said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE REGIONAL ANGLE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ins. market in the GCC is anticipated to grow at a CAGR of 5.3% to USD 44.4 bn<\/strong> (AED 163 bn) in 2028, after growing 15.2% y-o-y to USD 32.7 bn in 2022. This growth was driven by economic recovery post-covid and the implementation and development of mandatory health insurance across the GCC countries.<\/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\/alpen-capital\/\">Alpen Capital<\/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\/insurance\/\">insurance<\/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=\"88602\" 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=\"88602\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/more-bumper-bank-earnings\/\">\r\n                            ADCB, CBD post solid 2023 earnings                        <\/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\/02\/01\/more-bumper-bank-earnings\/\" 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\/02\/01\/more-bumper-bank-earnings\/')\">\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\/02\/01\/more-bumper-bank-earnings\/\">\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=More bumper bank earnings&url=https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/more-bumper-bank-earnings\/\">\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\/02\/01\/more-bumper-bank-earnings\/&title=More bumper bank earnings\">\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=More+bumper+bank+earnings+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F02%2F01%2Fmore-bumper-bank-earnings%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\/02\/01\/more-bumper-bank-earnings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2754.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"88603\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/more-bumper-bank-earnings\/2754-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2754.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2754.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2754.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2754.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88602\" class=\"content-area-description single-story post-88602 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-adcb tag-banking tag-cbd tag-earnings-watch tag-enterpriseam-uae 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\/2\/.47e23000-cc75-40df-aa5a-83cf1c435c28.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Earnings season continues to be in full swing<\/strong>, with a handful of banks and other companies releasing results yesterday, including Abu Dhabi Commercial Bank, Commercial Bank of Dubai, Tecom Group, and Q Holding. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ABU DHABI COMMERCIAL BANK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADCB net income up 38% in 2023: <\/strong>ADX-listed <a target=\"_blank\" href=\"https:\/\/www.adcb.com\/en\/personal\/\" style=\"\" rel=\"noopener\">Abu Dhabi Commercial Bank<\/a> (ADCB) saw its net income rise 38% y-o-y to a record AED 8.2 bn in 2023, on the back of \u201cstrong credit expansion in a higher interest rate environment and growth across diverse income streams,\u201d according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/2714.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The bank recorded a 21% y-o-y increase in its net income from interest and Islamic financing during the year, amounting to AED 12.4 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bank also extended a record amount of loans and mortgages<\/strong>, it said. Its credit card issuing business also grew to capture a 21% market share in the UAE, becoming the top issuer of credit cards in the UAE in 4Q 2024, according to the statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a quarterly basis: <\/strong>The lender\u2019s net income jumped 28% y-o-y to AED 2.45 bn in 4Q 2023, while net income from interest and Islamic financing surged 17% y-o-y during the same period to AED 3.41 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dividends: <\/strong>The board proposed a total payout of AED 4.1 bn in dividends, accounting for 50% of net income, the bank said. <\/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\">COMMERCIAL BANK OF DUBAI-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CBD top line jumps 45.2% in 2023:<\/strong><a target=\"_blank\" href=\"https:\/\/www.cbd.ae\/\" style=\"\" rel=\"noopener\">Commercial Bank of Dubai<\/a> \u2019s (CBD) net income surged 45.2% y-o-y in 2023 to a record AED 2.65 bn due to higher revenues and strong loan growth, according to the lender\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/2737.pdf\" style=\"\" rel=\"noopener\">financials (pdf)<\/a>. The bank saw its operating income climb 29.5% y-o-y to AED 4.9 mn on the back of higher net interest income and improved fee and commission income, the lender said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bank\u2019s assets increased 11% y-o-y to AED 129 bn<\/strong>, while net loans and advances hit AED 83.3 bn, marking a growth of 11.5% y-o-y. Customer deposits also grew 8.9% y-o-y to AED 88.3 bn in 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dividends:<\/strong> The board proposed a payout of some AED 1.2 bn in dividends, it said. <\/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\">TECOM GROUP-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Business district developer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/tecomgroup.ae\/\" style=\"\" rel=\"noopener\">Tecom Group<\/a><\/strong><strong> saw its net income surge 49% y-o-y to a <\/strong><strong>record AED 1.1 <\/strong><strong>bn during 2023<\/strong>, driven by strong asset performance across all business sectors, according to the company\u2019s latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/2697.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Tecom\u2019s top line rose 10% y-o-y to AED 2.2 bn in 2023, primarily fueled by high occupancy rates, with commercial and industrial portfolios seeing 89% occupancy, and industrial lands seeing 94%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a quarterly basis:<\/strong> The real estate company\u2019s net income rose 259% y-o-y to AED 311 mn in the final quarter of 2023, while revenues rose 17% y-o-y to AED 579 mn, according to the earnings release. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An increase in new customers also helped drive growth:<\/strong> \u201cWhile the majority of our revenue is attributed to retained customers, we are also pleased with an almost 15% increase in the number of new customers from 2022,\u201d Tecom Group CEO Abdulla Belhoul said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Positive outlook for the year:<\/strong> \u201cWe anticipate the demand-induced growth momentum to be sustained in 2024 and beyond,\u201d he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dividends:<\/strong> The company\u2019s board proposed a dividend payout of AED 400 mn in April for 2H 2023, according to the statement. <\/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\">Q HOLDING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADX-listed IHC subsidiary <\/strong><strong><a target=\"_blank\" href=\"https:\/\/qholding.com\/aboutus\" style=\"\" rel=\"noopener\">Q Holding<\/a><\/strong><strong> saw its net income fall 30.2% <\/strong><strong>y-o-y<\/strong><strong> to AED <\/strong><strong>574 mn during 2023<\/strong>, according to the investment company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/2692.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The company witnessed a 38% y-o-y surge in its top line to AED 994 mn, and recorded a 9% y-o-y increase in total assets reaching AED 21.31 bn.<\/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\/adcb\/\">ADCB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/cbd\/\">CBD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"88604\" 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=\"88604\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/apex-investments-vice-chairman-and-board-members-resign\/\">\r\n                            Apex Investment\u2019s vice chairman and board members resign + Edge appoints new head of missiles and weapons cluster                        <\/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\/02\/01\/apex-investments-vice-chairman-and-board-members-resign\/\" 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\/02\/01\/apex-investments-vice-chairman-and-board-members-resign\/')\">\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\/02\/01\/apex-investments-vice-chairman-and-board-members-resign\/\">\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=Apex Investment\u2019s vice chairman and board members resign&url=https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/apex-investments-vice-chairman-and-board-members-resign\/\">\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\/02\/01\/apex-investments-vice-chairman-and-board-members-resign\/&title=Apex Investment\u2019s vice chairman and board members resign\">\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=Apex+Investment%E2%80%99s+vice+chairman+and+board+members+resign+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F02%2F01%2Fapex-investments-vice-chairman-and-board-members-resign%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\/02\/01\/apex-investments-vice-chairman-and-board-members-resign\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2137.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"88605\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/apex-investments-vice-chairman-and-board-members-resign\/2137-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2137.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2137.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2137.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2137.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88604\" class=\"content-area-description single-story post-88604 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-apex-investment tag-edge tag-enterpriseam-uae tag-moves tag-saif-al-dahbashi 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\/2\/.94b0c1da-9267-46f8-b15e-6d934d67aa37.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Three board members have resigned from ADX-listed Apex Investment\u2019s board <\/strong><strong>following net losses in 2023<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/2722.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. Apex Investment, formerly Ras Al Khaimah Cement, saw Vice Chairman Elham Al Qasim, and board members Mansour Al Mansouri and Issa Khoury, resign effective Monday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> The company posted a net <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/5b9819a5-ea1d-4c7a-94d7-911609555d24\" style=\"\" rel=\"noopener\">loss<\/a> of AED 58.4 mn and an 11.8% y-o-y drop in revenues to AED 723.5 mn in 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Edge appoints new cluster president: <\/strong>Defense conglomerate <a target=\"_blank\" href=\"https:\/\/edgegroup.ae\/\" style=\"\" rel=\"noopener\">Edge Group<\/a> appointed Saif Al Dahbashi (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/saif-al-dahbashi-a13616237\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as president of the group\u2019s missiles and weapons cluster yesterday, according to a company <a target=\"_blank\" href=\"https:\/\/edgegroup.ae\/news\/edge-appoints-saif-al-dahbashi-president-its-missiles-weapons-cluster\" style=\"\" rel=\"noopener\">statement<\/a>. Al Dahbashi succeeds Hamad Al Marar, who was tapped as group managing director and CEO on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/825c7870-257c-4f92-91d3-908d3838b2f5\" style=\"\" rel=\"noopener\">Monday<\/a>. He has over 18 years of experience, including heading Edge\u2019s military maintenance, repair and overhaul arm <a target=\"_blank\" href=\"https:\/\/altaif.ae\/ar\" style=\"\" rel=\"noopener\">Al Taif<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the cluster: <\/strong>The missiles and weapons cluster is one of five Edge clusters dedicated to designing and developing smart weapons, firearms, and munitions. As cluster president, Al Dahbashi will oversee Edge defense manufacturer companies <a target=\"_blank\" href=\"https:\/\/al-tariq.ae\/\" style=\"\" rel=\"noopener\">Al Tariq<\/a>, <a target=\"_blank\" href=\"https:\/\/caracal.ae\/\" style=\"\" rel=\"noopener\">Caracal<\/a>, <a target=\"_blank\" href=\"https:\/\/halcon.ae\/\" style=\"\" rel=\"noopener\">Halcon<\/a>, and <a target=\"_blank\" href=\"https:\/\/lahab.ae\/\" style=\"\" rel=\"noopener\">Lahab<\/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\/apex-investment\/\">Apex Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/edge\/\">EDGE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/saif-al-dahbashi\/\">Saif Al Dahbashi<\/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=\"88606\" 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=\"88606\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">TRENDING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/of-weddings-and-royals\/\">\r\n                            Dubai Crown prince attends wedding in Majlis Al Bateen                        <\/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\/02\/01\/of-weddings-and-royals\/\" 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\/02\/01\/of-weddings-and-royals\/')\">\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\/02\/01\/of-weddings-and-royals\/\">\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=Of weddings and royals\u2026&url=https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/of-weddings-and-royals\/\">\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\/02\/01\/of-weddings-and-royals\/&title=Of weddings and royals\u2026\">\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=Of+weddings+and+royals%E2%80%A6+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F02%2F01%2Fof-weddings-and-royals%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\/02\/01\/of-weddings-and-royals\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2771.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"88607\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/of-weddings-and-royals\/2771-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2771.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2771.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2771.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2771.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88606\" class=\"content-area-description single-story post-88606 post type-post status-publish format-standard has-post-thumbnail hentry category-trending tag-abu-dhabi tag-enterpriseam-uae 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\/2\/.47979c86-ac90-4e03-b094-000773765ab7.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s wedding bells on UAE X<\/strong>, with the hashtag <a target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%22%D9%85%D8%AC%D9%84%D8%B3%20%D8%A7%D9%84%D8%A8%D8%B7%D9%8A%D9%86%22&src=trend_click&vertical=trends\" style=\"\" rel=\"noopener\">\u0645\u062c\u0644\u0633 \u0627\u0644\u0628\u0637\u064a\u0646<\/a> (Majlis Al Bateen) trending after UAE President Sheikh Mansour bin Zayed Al Nahyan and Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan attended the wedding celebration of Thani, the son of Thani Murshid Chairman Mohamed Thani Murshed Al Rumaithi, and Karima, the daughter of Abdulla Ghurair Al Aujan Al Qubaisi at the majlis. The Crown Prince <a target=\"_blank\" href=\"https:\/\/twitter.com\/ADMediaOffice\/status\/1752736129449656518\" style=\"\" rel=\"noopener\">wished<\/a> the newlyweds a prosperous life together. <\/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\/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=\"88608\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43010.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.mashreq.com\/en\/uae\/neo\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" 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\r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"88609\" 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=\"88609\">\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\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/abu-dhabi-based-company-takeover-of-the-telegraph-paused\/\">\r\n                            Abu-Dhabi based company takeover of the telegraph paused                        <\/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\/02\/01\/abu-dhabi-based-company-takeover-of-the-telegraph-paused\/\" 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\/02\/01\/abu-dhabi-based-company-takeover-of-the-telegraph-paused\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/abu-dhabi-based-company-takeover-of-the-telegraph-paused\/&title=Abu-Dhabi based company takeover of the telegraph paused\">\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+based+company+takeover+of+the+telegraph+paused+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F02%2F01%2Fabu-dhabi-based-company-takeover-of-the-telegraph-paused%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\/02\/01\/abu-dhabi-based-company-takeover-of-the-telegraph-paused\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"88610\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/abu-dhabi-based-company-takeover-of-the-telegraph-paused\/2-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88609\" class=\"content-area-description single-story post-88609 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-bloomberg tag-enterpriseam-uae tag-lucy-frazer tag-redbirdimi tag-the-telegraph tag-uae-in-the-news tag-uk 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\/2\/.c9e03223-52de-4e9e-8993-4ea83e2305e5.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A couple of business stories are driving the conversation on the UAE in the foreign press this morning:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- UK halts Telegraph takeover:<\/strong> UK Culture Secretary Lucy Frazer issued an order preventing any further changes to the ownership of The Telegraph until the UK government completes its investigation into the takeover of the newspaper by Abu Dhabi-backed RedbirdIMI, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-31\/uk-blocks-telegraph-ownership-changes-until-scrutiny-is-complete\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">#2- <strong>The UAE\u2019s USD 30 bn climate fund <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.alterra.ae\/announcement\/uae-commits-us30-billion-in-catalytic-capital-to-launch-landmark-climate-focused-investment-vehicle-at-cop28-copy\" style=\"\" rel=\"noopener\">Alterra<\/a><\/strong><strong>, which was <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/903e6d02-4d23-4ff4-8e58-9ea7d4ce54df\" style=\"\" rel=\"noopener\">launched at COP28<\/a><\/strong><strong>is also getting ink<\/strong> from the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a28e216d-74c2-4f1a-ba27-dc3817907b87\" style=\"\" rel=\"noopener\">Financial Times<\/a>, which notes that its launch comes at a time when \u201cinvestible dry powder\u201d is peaking. The article also gives a nod to the growing trend of equity managers inaugurating equity or debt private climate capital funds. <\/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\/bloomberg\/\">Bloomberg<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/lucy-frazer\/\">Lucy Frazer<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/redbirdimi\/\">RedbirdIMI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/the-telegraph\/\">The Telegraph<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uk\/\">UK<\/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=\"88611\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"88612\" 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=\"88612\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/turkeys-aselsan-sets-up-abu-dhabi-office-moodys-upholds-difcs-rating\/\">\r\n                            Turkey\u2019s Aselsan sets up Abu Dhabi office + Moody\u2019s upholds DIFC\u2019s rating. PLUS: New flights and a mixed bag of 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\/02\/01\/turkeys-aselsan-sets-up-abu-dhabi-office-moodys-upholds-difcs-rating\/\" 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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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"88613\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/turkeys-aselsan-sets-up-abu-dhabi-office-moodys-upholds-difcs-rating\/2798-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2798.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2798.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2798.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2798.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88612\" class=\"content-area-description single-story post-88612 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-aselsan tag-aviation tag-banking tag-capital-markets tag-dubai-aerospace-enterprise tag-education tag-engineering tag-enterpriseam-uae tag-imdaad tag-insurance tag-manufacturing tag-military tag-real-estate tag-teracell-properties tag-trade tag-turkey 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\/2\/.46c1db55-826a-4702-a253-66b75da6098e.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Turkish arms manufacturer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.aselsan.com\/\" style=\"\" rel=\"noopener\">Aselsan<\/a><\/strong><strong> inaugurated<\/strong><strong>an office <\/strong><strong>in Abu Dhabi on Tuesday<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/aselsan\/posts\/pfbid0CUPT6zuvMwg6u9STZAKPNV8WnyaWpQstfkT7bMbJ1FB6JZPou7PgZ2s4Ahcg746xl\" style=\"\" rel=\"noopener\">company statement<\/a>. The new office will attend to existing and potential clients in the UAE and the bigger Gulf region as part of Aselsan\u2019s export-oriented growth strategy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aselsan is no stranger to UAE: <\/strong>The company previously inked a preliminary agreement with Emirati defense contractor <a target=\"_blank\" href=\"https:\/\/edgegroup.ae\/\" style=\"\" rel=\"noopener\">Edge Group<\/a> in October that saw the latter earmark a USD-denominated bn investment in Turkey\u2019s arms sector, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-12\/uae-defense-firm-edge-weighs-turkey-investments-with-aselsan-asels-baykar\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moody's has upheld the long-term issuer ratings of the Dubai International <\/strong><strong>Financial Centre (DIFC) at BAA3<\/strong>, Al Khaleej <a target=\"_blank\" href=\"https:\/\/www.alkhaleej.ae\/2024-01-31\/%D9%85%D9%88%D8%AF%D9%8A%D8%B2-%D8%AA%D8%AB%D8%A8%D8%AA-%D8%AA%D8%B5%D9%86%D9%8A%D9%81%D8%A7%D8%AA-%D9%85%D8%B1%D9%83%D8%B2-%D8%AF%D8%A8%D9%8A-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85%D9%8A-%D9%85%D8%B9-%D9%86%D8%B8%D8%B1%D8%A9-%D9%85%D8%B3%D8%AA%D9%82%D8%B1%D8%A9\/%D8%A3%D8%B3%D9%88%D8%A7%D9%82-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA\/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\" style=\"\" rel=\"noopener\">reports<\/a>. The ratings agency also assigned a BAA3 rating with a stable outlook to the center's USD 700 mn (AED 2.6 bn) sukuk, scheduled to mature in November 2024. The rating signifies Moody's perception of DIFC's strong credit profile within the BAA3 category, underpinned by a steady income stream derived from a diverse portfolio of tenant and investment properties. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AVIATION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Two weekly flights between Abu Dhabi and Haikou, China have been added to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.adairports.ae\/\" style=\"\" rel=\"noopener\">Abu Dhabi Airports Company<\/a><\/strong><strong> and Chinese airline <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.hainanairlines.com\/US\/US\/\" style=\"\" rel=\"noopener\">Hainan Airlines<\/a><\/strong><strong>\u2019 routes<\/strong>, after the two companies inked an agreement yesterday, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/abu-dhabi-welcomes-new-airline-and-increases-connectivity-with-direct-flights-to-haikou-china-f3n02pb3\" style=\"\" rel=\"noopener\">press release<\/a>. The flights will take off from and land in Abu Dhabi Airports\u2019 <a target=\"_blank\" href=\"https:\/\/www.adairports.ae\/english\/media-centre\/press-releases\/2023\/2023-11-16-All-28-Airlines-Now-Operating-From-Terminal-A-Following-Completion-Of-Transition-Phase\" style=\"\" rel=\"noopener\">recently inaugurated<\/a> Terminal A, which saw some 28 airlines fly in <a target=\"_blank\" href=\"https:\/\/www.adairports.ae\/english\/media-centre\/press-releases\/2023\/2023-11-16-All-28-Airlines-Now-Operating-From-Terminal-A-Following-Completion-Of-Transition-Phase\" style=\"\" rel=\"noopener\">November<\/a>. Hainan is the first Chinese airline in a decade to operate regular flights to and from Abu Dhabi, according to the release.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Etihad Airways and Air Serbia now have a codeshare agreement, providing <\/strong><strong>Etihad customers access to 12 Southeast European destinations<\/strong> through Air Serbia's Belgrade hub, <a target=\"_blank\" href=\"https:\/\/www.timesaerospace.aero\/news\/route-planning-and-tourism\/etihad-airways-and-air-serbia-enter-strategic-bilateral-codeshare\" style=\"\" rel=\"noopener\">Times Aerospace<\/a> reports. Etihad customers can now reach Air Serbia's network more easily from key gateways like Athens, Milan, Rome, and Vienna.<\/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\">ENGINEERING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Engineering sector to get an upgrade: <\/strong>Investment Corporation of Dubai (ICD) ownedfacilities management group <a target=\"_blank\" href=\"https:\/\/www.imdaad.ae\/\" style=\"\" rel=\"noopener\">Imdaad<\/a> inked a three-year MoU yesterday with the <a target=\"_blank\" href=\"https:\/\/omaintec.org\/en\/\" style=\"\" rel=\"noopener\">Arab Operations and Maintenance Council (OMAINTEC)<\/a> to develop the skills of professionals conducting maintenance and reliability tasks in the national engineering sector, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/imdaad-signs-mou-with-omaintec-to-drive-advancement-of-engineering-sector-dp3lbxw2\" style=\"\" rel=\"noopener\">press release<\/a>. The two players will also conduct joint research to address the sector obstacles, potentially exploring partnership frameworks for legislative and regulatory affairs.<\/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\">SUSTAINABILITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ajman Bank and Mastercard for sustainability:<\/strong> Ajman Bank is partnering with Mastercard to use the Carbon Calculator, revealing purchase-related carbon emissions to consumers and facilitating support for reforestation via Mastercard\u2019s Priceless Planet Coalition, according to a <a target=\"_blank\" href=\"https:\/\/www.mastercard.com\/news\/eemea\/en\/newsroom\/press-releases\/press-releases\/en\/2024\/january\/ajman-bank-steps-up-sustainability-efforts-with-mastercard-solutions\/#:~:text=Ajman%2C%20UAE%3B%2031January%202024%3A,its%20UAE%20Sustainable%20Cards%20Pledge.\" style=\"\" rel=\"noopener\">press release<\/a>. Ajman Bank also inked the UAE Sustainable Cards Pledge, vying to make their cards made out of more sustainable materials. <\/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\">INS.-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Car ins. company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.shory.com\/\" style=\"\" rel=\"noopener\">Shory<\/a><\/strong><strong> partners with <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ngi.ae\/\" style=\"\" rel=\"noopener\">National General Ins. (NGI)<\/a><\/strong><strong> to off<\/strong><strong>er comprehensive car ins. products for non-GCC vehicles<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/shory-and-national-general-insurance-team-up-to-transform-car-insurance-in-the-uae-y52htqty\" style=\"\" rel=\"noopener\">press release<\/a>. NGI will use Shory\u2019s digital platforms to expand non-GCC car ins. sales, while Shory will offer a broader range of comprehensive car ins. policies for such vehicles.<\/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\">INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yas Island will become more inclusive for people of determination and the elderly<\/strong>, after Abu Dhabi\u2019s Department of Community Development and Aldar Properties signed an agreement to launch a project that will make public facilities and the lived-environment more inclusive and accessible, the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/community\/department-of-community-development-partners-with-aldar-properties-to-enhance-accessibility-and-inclusivity-on-yas-island\/\" style=\"\" rel=\"noopener\">Abu Dhabi Media Office<\/a> reports. The project is slated for an initial pilot phase on Yas Island this year and is slated for completion by 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TRADE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai-based businesses kicked the tires on potential investments in Vietnam and Indonesia<\/strong> in an event organized by the Dubai International Chamber, which aimed to introduce increased trade and investment between Dubai and the two Southeast Asian countries, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/dubai-international-chamber-showcases-opportunities-for-local-companies-to-expand-into-vietnam-and-indonesia-markets-hsix15gg\" 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\">EDUCATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>American Hospital Dubai inked an MoU with Baylor College of Medicine (BCM) to <\/strong><strong>establish a medical college in Dubai<\/strong>, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/uae\/health\/american-hospital-dubai-and-baylor-college-of-medicine-to-set-up-medical-college-1.1706619165942\" style=\"\" rel=\"noopener\">Gulf News<\/a> reports. Under the partnership, BCM will operate with its own curriculum from within the American Hospital in Dubai.<\/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>Swiss developer DHG Properties plans to debut its first AED 500 mn Dubai residential project <\/strong>next month, according to <a target=\"_blank\" href=\"https:\/\/www.tradearabia.com\/news\/CONS_418391.html\" style=\"\" rel=\"noopener\">Trade Arabia<\/a>. The 430-unit development will be situated in the Jumeirah Village Circle. <\/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\/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\/aselsan\/\">Aselsan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/aviation\/\">Aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai-aerospace-enterprise\/\">Dubai Aerospace Enterprise<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/engineering\/\">engineering<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/imdaad\/\">Imdaad<\/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\/manufacturing\/\">MANUFACTURING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/military\/\">military<\/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\/teracell-properties\/\">Teracell Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/turkey\/\">Turkey<\/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=\"88614\" 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=\"88614\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/saudi-aramco-could-float-more-shares-on-tadawul\/\">\r\n                            Aramco could float more shares on Tadawul                        <\/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\/02\/01\/saudi-aramco-could-float-more-shares-on-tadawul\/\" 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 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data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/saudi-aramco-could-float-more-shares-on-tadawul\/2794-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2794.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2794.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2794.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2794.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88614\" class=\"content-area-description single-story post-88614 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-aramco tag-enterpriseam-uae tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.c3c712e7-c0db-4ab8-ab26-7e3c98259469.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>More Aramco shares up for grabs? <\/strong>Saudi Aramco will reportedly move forward with stalled plans to list more shares on the Tadawul \u2014 in what is set to be one of the biggest share sales in recent years, sources told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-31\/saudi-arabia-is-said-to-weigh-reviving-aramco-share-sale?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The oil giant is looking to raise at least SAR 40 bn (USD 10 bn) in proceeds from the offering. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco made its Tadawul debut in 2019<\/strong>, raising over USD 29 bn in what remains to be the biggest IPO in history. The company floated a 1.5% stake for a top of the range price of SAR 32 a piece in a transaction that valued the company at USD 1.87 tn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Enterprise take: <\/strong>Aramco would have to float 1.3 bn shares if it were to raise the minimum target of SAR 40 bn at yesterday\u2019s closing share price. The share price fell 2.2% to SAR 30.6 per share on yesterday\u2019s close.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel\u2019s <\/strong><strong>war on Gaza is \u201cexacerbating an already challenging environment for<\/strong><strong> neighboring countries and beyond,\u201d<\/strong> warns the IMF in its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/2721.pdf\" style=\"\" rel=\"noopener\">Regional Economic Outlook (pdf)<\/a> for the Middle East and North Africa,. The report also cautions that if the conflict spreads outside the enclave and disruption in the Red Sea escalates, the region could face a \u201csevere economic impact, including on trade and tourism.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The Fund on Tuesday cut its growth projection for the region 0.5 percentage points to 2.9%.<strong>Disclaimer:<\/strong> The IMF\u2019s outlook for the region and headline growth figures are based upon the assumption that the war on Gaza and wider disruptions stemming from it start to ease in the first quarter of 2024. However, with Israeli military officials <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-30\/israel-military-sees-long-road-ahead-to-eliminating-hamas-threat\" style=\"\" rel=\"noopener\">predicting<\/a> the conflict continuing throughout the year, Israeli ministers <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2024\/jan\/29\/israeli-ministers-attend-conference-calling-for-voluntary-migration-of-palestinians\" style=\"\" rel=\"noopener\">calling for<\/a> ethnic cleansing and settlements in Gaza, and ceasefire negotiations <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3cbcacc-56b4-43e0-956b-a8ff9f04571d\" style=\"\" rel=\"noopener\">hitting roadblocks<\/a>, the conflict shows few signs of ending soon.<\/p>\n<p><a target=\"_blank\" id=\"t.9a214c99608b15907fb828909266e3c9dbb8e446\" 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<tbody>\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\">9,508<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: -0.7%)<\/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>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\">4,169<\/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% (YTD: +2.7%)<\/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\">3,806<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: -0.9%)<\/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-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>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\">5.2% 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\">5.0% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,796<\/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% (YTD: -1.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">28,281<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-6.8% (YTD: +13.6%)<\/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>S&P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,887<\/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: +2.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,630<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: -1.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,648<\/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: +2.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 81.71<\/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\">-1.4%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.13<\/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>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 2,057<\/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%<\/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 42,578<\/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: +0.8%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\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 0.1% yesterday<\/strong> on turnover of AED 1 bn. The index is down 0.7% 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>Fujairah Cement Industries (+5.6%), National Company for Tourism and Hotels (+5.6%) and Umm Al Qaiwain General Investment (+4.4%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Union Ins. Company (-3.4%), National Bank of Ras Al Khaimah (-3.3%) and Eshraq Investments (-2.6%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the DFM<\/strong>, the index closed flat on turnover of AED 653.8 mn, while Nasdaq Dubai fell 0.2%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mixed in early trading this morning <\/strong>after the US Federal Reserve yesterday poured cold water on expectations that it could start cutting interest rates as early as March. The ASX 200, Nikkei, and Shanghai were all in the red, while the Kospi and Hang Seng are (just barely) clinging to the green. Futures point to a soft opening in Europe, with most major benchmarks in the red, while Wall Street could shrug off concerns \u2014 futures for the Dow, Nasdaq, and S&P 500 are all in the green at dispatch time this morning. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CORPORATE ACTIONS-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GFH Financial Group sells 3.5% treasury shares to Southern Star Investments: <\/strong>GFH Financial Group signed an agreement to sell 134.3 mn treasury shares, equivalent to 3.5% of its total issued shares, to Southern Star Investments, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/2785.pdf\" style=\"\" rel=\"noopener\">ADX disclosure<\/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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"88616\" 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=\"88616\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/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\/02\/01\/uae-mediates-another-russia-ukraine-prisoner-swap\/\">\r\n                            UAE mediates another Russia-Ukraine prisoner swap                        <\/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\/02\/01\/uae-mediates-another-russia-ukraine-prisoner-swap\/\" 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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Under the agreement, Russia released 207 Ukrainian prisoners \u2014 both military personnel and civilians \u2014 Ukrainian President Volodymyr Zelensky said (<a target=\"_blank\" href=\"https:\/\/twitter.com\/zelenskyyua\/status\/1752699245302595999?s=46&t=eQkyOOTe-J3UW1b7k5d2xA\" style=\"\" rel=\"noopener\">watch, runtime: 1:37<\/a>). In exchange, 195 Russian soldiers returned from Ukraine, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/russia-ukraine-say-they-have-completed-prisoner-exchange-2024-01-31\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UNRWA is still getting UAE backing: <\/strong>UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan expressed the UAE's \u201cunwavering support\u201d for the UN Relief and Works Agency (UNRWA), in a phone call with UNRWA Commissioner-General Philippe Lazzarini, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/13qqtdn-abdullah-bin-zayed-affirms-support-for-unrwa-phone\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Al Nahyan highlighted UNRWA\u2019s crucial role amid the circumstances, especially in Gaza. He praised UNRWA's prompt response to allegations against its staff and urged donor countries to reconsider the suspension of funding, emphasizing the agency's vital role in providing urgent services to Palestinian refugees.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The US \u2014 the agency\u2019s biggest donor \u2014 along with the UK, Italy, Canada, Finland, and Australia <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/25cb572b-dbbf-4896-96f6-9cefbbd38d5a\" style=\"\" rel=\"noopener\">suspended<\/a> funding to UNRWA recently over Israeli allegations that several staff members took part in the 7 October attacks. The UN has preemptively fired several employees over the accusations and is investigating the allegations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ras Al Khaimah ruler and UK trade envoy discuss boosting economic ties: <\/strong>Ras Al Khaimah Ruler Sheikh Saud bin Saqr Al Qasimi hosted UK trade envoy Gareth Johnson to discuss strengthening trade relations and strategic partnerships, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b1fg71b-saud-bin-saqr-receives-trade-envoy-uae\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The Ras Al Khaimah Economic Zones Authority (RAKEZ) and the British Chamber of Commerce Dubai also signed an MoU, aiming to improve trade connections and collaborative efforts.<\/p>\n<p class=\"tag-border-left\">OTHER DIPLOMACY NEWS- <\/p>\n<ul>\n<li><strong>Sharjah Health Authority, Australian delegation talk healthcare<\/strong><strong>: <\/strong>Sharjah Healthcare City and Health Authority head Abdulaziz Al Muhairi held a meeting with an Australian delegation headed by Australian Consul General Bryony Hillis, to showcase potential investments in the UAE\u2019s health sector. (<a target=\"_blank\" href=\"https:\/\/www.sharjah24.ae\/en\/Articles\/2024\/01\/31\/SHA-Australian-Consul-General-discuss-health-service-enhancement\" style=\"\" rel=\"noopener\">Sharjah24<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/russia-ukraine-war\/\">Russia-Ukraine war<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/unrwa\/\">UNRWA<\/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=\"88618\" 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\/02\/01\/88618-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88618\" class=\"content-area-description single-story post-88618 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>29 January-1 February (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.arabhealthonline.com\/en\/overview\/show-information.html\" style=\"\">Arab Health Exhibition 2024<\/a><\/span><span style=\"font-weight:400;\">, 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;\">31 January-6 February (Wednesday-Tuesday): Emirates LitFest, InterContinental Hotel Festival City.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 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;\">1 February (Thursday): Dhow Sailing Race, Abu Dhabi Corniche<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1-15 February (Thursday-Thursday): InClassica Dubai International Music Festival 2024, Dubai Opera.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-29 February (Friday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.rakart.ae\/2024-festival\" style=\"\">Ras Al Khaimah Art 2024 Festival<\/a><\/span><span style=\"font-weight:400;\">, Al Jazeera Al Hamra.<\/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 style=\"font-weight:400;\">2-4 February (Friday-Sunday): All Africa Festival 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;\">2-4 February (Friday-Sunday): Abu Dhabi Youth Challenge Techstars Startup Weekend, ADGM, 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;\">3-11 February (Saturday-Sunday): Mubadala Abu Dhabi Opening, Zayed Sports City\u2019s International Tennis Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5-7 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.petrospot.com\/events\/mebc24-dubai\" style=\"\">Middle East Bunkering Convention<\/a><\/span><span style=\"font-weight:400;\">, Dubai, 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;\">5-8 February (Monday-Thursday): Medlab Middle East, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6-7 February (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/meprocuretech.com\/#:~:text=The%202nd%20Annual%20Middle%20East,with%20leaders%20in%20the%20field.\" style=\"\">The Middle East ProcureTech Summit<\/a><\/span><span style=\"font-weight:400;\">, Dubai, 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;\">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;\">8-9 February (Thursday-Friday): International Crop-Science Conference & Exhibition 2024, JW Marriott, Marquis Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-11 February (Thursday- Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.theuaetourwomen.com\/\" style=\"\">The UAE Tour Women<\/a><\/span><span style=\"font-weight:400;\">. <\/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 February (Friday): Abu Dhabi International Airport to be renamed to Zayed International Airport.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9-11 February (Friday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.heroworldseries.com\/hero-abu-dhabi\" style=\"\">HERO Abu Dhabi<\/a><\/span><span style=\"font-weight:400;\">, Al Hudayriat Island. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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>12-14 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldgovernmentsummit.org\/\" style=\"\">World Government Summit<\/a><\/span><span style=\"font-weight:400;\">, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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>12-15 February (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/10times.com\/e1x3-42g7-krkg\" style=\"\">Future Warehouse & Logistics<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-25 February (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.fifa.com\/fifaplus\/en\/tournaments\/mens\/beachsoccerworldcup\" style=\"\">FIFA Beach Soccer World Cup 2024<\/a><\/span><span style=\"font-weight:400;\">, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18 February (Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/adsc.ae\/events\/run-ride-and-feel-alive-in-abu-dhabi\/\" style=\"\">Abu Dhabi Run and Ride<\/a><\/span><span>, Abu Dhabi Corniche.<\/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;\">19-23 February (Monday-Friday): Gulfood 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>20-21 February (Tuesday- Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.idctconference.org\/\" style=\"\">International Dialogue of Civilizations and Tolerance Conference<\/a><\/span><span style=\"font-weight:400;\">, 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;\">22-24 February (Thursday-Saturday): International Freight Forwarders Conference 2024 Dubai, Hyatt Hotel.<\/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 February (Friday-Sunday): Taste of Dubai Festival, Skydive 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;\">23 February - 3 March (Friday-Sunday): Maritime Heritage Festival 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;\">24 February (Saturday): Ras Al Khaimah Half Marathon, Al Marjan Island.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26-28 February (Monday-Wednesday): Management and Sustainability of Water Resources, Marriott Hotel Al Jaddaf.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27-28 February (Tuesday-Wednesday): Dubai Association Centre Conference, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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>28-29 February (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/investopia.ae\/\" style=\"\">Third Investopia Summit<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28 February - 1 March (Wednesday-Friday): MENA Transport Congress and Exhibition 2024, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29 February-3 March (Thursday-Sunday): Gov Games, Dubai Festival City, 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;\">1-3 March (Friday-Sunday): Art Dubai, Madinat Jumeirah. <\/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>5-7 March (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.dealmiddleeastshow.com\/\" style=\"\">Dubai Entertainment Amusement & Leisure Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Center. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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;\">11\/12 March (Monday\/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;\">9\/10 April (Tuesday\/Wednesday): 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;\">8-12 April (Monday-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;\">16-18 April (Tuesday-Thursday): Middle East Energy, 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:400;\">24-26 April (Wednesday-Friday): Global Education & Training Exhibition.<\/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>6-7 May (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dubaifintechsummit.com\/\" style=\"\">Dubai Fintech Summit 2024<\/a><\/span><span style=\"font-weight:400;\">, Madinat Jumeirah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">8-9 May (Wednesday-Thursday): Innovative Finance Expo, Jumeirah Emirates Towers.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">14-15 May (Tuesday-Wednesday): Seamless Middle East, Dubai World Trade Centre. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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>5.7% growth in 2024 | US Fed, CBUAE leave rates steady | Higher fuel prices | Don\u2019t 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