{"id":90382,"date":"2024-03-25T00:00:00","date_gmt":"2024-03-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=90382"},"modified":"2025-12-14T23:52:10","modified_gmt":"2025-12-14T23:52:10","slug":"an-ma-heavy-newsday","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/an-ma-heavy-newsday\/","title":{"rendered":"An M&#038;A-heavy newsday"},"content":{"rendered":"<section id=\"90384\" 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=\"90384\">\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\/03\/25\/cbuae-approves-brookfields-acquisition-of-network-international\/\">\r\n                            THIS MORNING: CBUAE approves Brookfield\u2019s acquisition of Network International + Bring out your umbrellas                        <\/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\/03\/25\/cbuae-approves-brookfields-acquisition-of-network-international\/\" 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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We have a relatively brisk issue of news today following a slightly uneventful weekend \u2014 let\u2019s dive in. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But first:<\/strong> Happy Holi to our Indian readers. We hope this holiday brings you peace and joy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORIES here at home are all M&amp;As:&nbsp;<\/strong><strong>MBC Group<\/strong> acquired a 13.7% stake in Abu Dhabi-based music streaming platform <strong>Anghami<\/strong>, while <strong>AD Ports <\/strong>snapped up a majority stake in a Georgian port and <strong>IHC\u2019s International Resources Holding <\/strong>finalized its acquisition of Zambia\u2019s Mopani Copper Mines. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong> ALSO- The Central Bank of the UAE has greenlit Brookfield Asset Management\u2019s USD&nbsp;<\/strong><strong><a target=\"_blank\" href=\"https:\/\/tools.eurolandir.com\/tools\/Pressreleases\/GetPressRelease\/?ID=4274538&amp;lang=en-GB&amp;companycode=uk-netw&amp;v=\" style=\"\" rel=\"noopener\">2.76 bn acquisition<\/a><\/strong><strong> of Dubai-based payments provider Network International<\/strong>, according to a London Stock Exchange <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2180.pdf\" style=\"\" rel=\"noopener\">filing (pdf)<\/a>. The acquisition is still pending clearances from regulatory authorities in Kenya, Nigeria and Saudi Arabia, according to the filing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The acquisition has been pending regulatory approvals since last June, and comes as Brookfield looks to expand its presence in the Middle East and North Africa. The Canadian firm has more than USD 5 bn in assets under management in the Middle East, and bought a 60% stake last year in First Abu Dhabi Bank\u2019s payments arm, Magnati. FAB <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/brookfield-buy-network-international-276-bln-2023-06-09\/\" style=\"\" rel=\"noopener\">had said<\/a> it would co-invest with Brookfield in the Network acquisition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Network International is advised by Citi, JP Morgan, PJT Partners, Allen &amp; Overy, and Teneo, while Brookfield Asset Management is advised by Morgan Stanley and Linklaters.<\/p>\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=\"wwtt2\"><\/a><strong>?\ufe0f<\/strong><strong> WEATHER- <\/strong>Western and southern regions of the country will see cloudy skies with a chance of rain and occasional thunderstorms today and tomorrow, the National Center of Meteorology said <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/13tnu8i-rain-strong-winds-expected-uae-affected-surface\" style=\"\" rel=\"noopener\">earlier<\/a>. Clouds are expected to clear starting tomorrow evening.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So, when do we eat? <\/strong>Maghrib prayers are at 6:36pm in Dubai and 6:39pm in Abu Dhabi, and you have until 5:03am to hydrate and caffeinate ahead of Fajr in Abu Dhabi, and until 4:59am in Dubai.<\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Event organizers will continue enjoying an exemption from a 10% tourism tax&nbsp;<\/strong><strong>in Abu Dhabi until the end of the year<\/strong> as the emirate looks to promote its tourism industry, according to an Abu Dhabi Media Office <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/tourism\/department-of-culture-and-tourism-abu-dhabi-extends-10-tourism-tax-exemption-for-2024\/\" style=\"\" rel=\"noopener\">statement<\/a>. This waiver will apply to ticket sales until 31 December, 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Abu Dhabi drew some 18 mn tourists in 2022, including 603k visitors for meetings, incentive events, conferences, and exhibitions. Hotel occupancy hit 70% during the year. Abu Dhabi's goal was to achieve 24 mn visitors in 2023, but has not released final figures for actual tourist arrivals during the year. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a><strong> #2- Abu Dhabi-based real estate developer Aldar Properties is planning another<\/strong><strong> USD 500 mn green sukuk issuance this year<\/strong> after <a target=\"_blank\" href=\"https:\/\/www.aldar.com\/en\/news-and-media\/aldar-investment-properties-issues-usd-500-million-10-year-inaugural-green-sukuk\" style=\"\" rel=\"noopener\">raising USD 500 mn<\/a> through its maiden green sukuk issuance last year, CFO Faisal Falaknaz tells <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/business\/property\/2024\/03\/22\/aldar-aims-for-84bn-in-sales-this-year-with-plans-to-issue-green-sukuk\/\" style=\"\" rel=\"noopener\">The National<\/a>. The Islamic bonds will be issued under Aldar\u2019s green framework, which targets \u201cmore green financing across all [Aldar\u2019s] facilities,\u201d Falaknaz said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aldar plans to double down on acquisitions<\/strong>, with AED 4-5 bn of equity earmarked to be&nbsp;<span style=\"background-color: transparent;\">\u201cdeployed into recurring income assets\u2026 Logistics is a very important segment that we are very keen on continuing to grow,\u201d according to Falaknaz.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The developer <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9df3e049-bfc0-492c-9b05-4641bd2f67bc\/aldar-wants-to-invest-aed-1-bn-in-logistics\" style=\"\" rel=\"noopener\">is planning to invest<\/a> AED 1 bn to expand logistics operations in Dubai and Abu Dhabi, and recently invested some AED 407 mn in logistics and storage assets in Europe.<\/p>\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>#3- The Federal Tax Authority has overhauled three of its services<\/strong> to comply with the government\u2019s service quality charter, state news agency <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/13twezz-fta-upgrades-three-key-services-line-with-uae%E2%80%99s\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The updates include expediting tax certificate issuances, improving its inquiry response chat service for excise goods registration, and cutting the processing time for tax refunds for UAE nationals building new residences. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- <\/strong><strong>The Abu Dhabi Investment Authority is in talks to invest an undisclosed amount in Indian audio<\/strong><strong> streaming platform Pocket FM<\/strong>, the <a target=\"_blank\" href=\"https:\/\/economictimes.indiatimes.com\/tech\/startups\/pocket-fm-may-tune-in-to-unicorn-station-at-1-2-billion-valuation\/articleshow\/108685856.cms?from=mdr\" style=\"\" rel=\"noopener\">Economic Times<\/a> reports. The investment would come in the form of a new large funding round that could value it at as much as USD 1.2 bn, on the heels of another USD <a target=\"_blank\" href=\"https:\/\/techcrunch.com\/2024\/03\/20\/pocket-fm-bags-103m-in-funding-as-it-eyes-global-expansion\/\" style=\"\" rel=\"noopener\">103 mn funding round<\/a> from Lightspeed Ventures last week. <\/p>\n<p class=\"tag-border-left\"> HAPPENING TODAY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Public school students from grades 3-13 will be sitting for their make-up exams <\/strong><strong>from today until this Friday, 29 March.<\/strong> The make-up assessments are forstudents who missed exams or encountered technical issues during testing, <a target=\"_blank\" href=\"https:\/\/www.emaratalyoum.com\/local-section\/education\/2024-03-23-1.1837896\" style=\"\" rel=\"noopener\">Emarat Al Youm<\/a> reports.<\/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 class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The UAE leads the region in the 2023 Global Tourism Visa Openness and <\/strong><strong>Facilitation Index<\/strong> by UN Tourism with a score of 67.80 out of 100, <a target=\"_blank\" href=\"https:\/\/www.alkhaleej.ae\/2024-03-23\/%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AA%D8%AA%D8%B5%D8%AF%D8%B1-%D8%A7%D9%84%D9%85%D9%86%D8%B7%D9%82%D8%A9-%D9%81%D9%8A-%D8%AA%D8%B3%D9%87%D9%8A%D9%84-%D8%A7%D9%84%D8%AA%D8%A3%D8%B4%D9%8A%D8%B1%D8%A7%D8%AA\/%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\">AlKhaleej Times<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The UAE \u2014 along with Iraq and Egypt \u2014 was listed among the top 10 most <\/strong><strong>air-polluted countries in 2023<\/strong>, with the UAE ranking seventh, Iraq ranking sixth, and Egypt ranking ninth, <a target=\"_blank\" href=\"https:\/\/bit.ly\/3vfZ5o1\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing IQ Air data.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a><strong> #3- Dubai ranked first in the Arab world and 20th globally in the latest <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.longfinance.net\/programmes\/financial-centre-futures\/global-financial-centres-index\/gfci-35-explore-the-data\/gfci-35-rank\/\" style=\"\" rel=\"noopener\">Global<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.longfinance.net\/programmes\/financial-centre-futures\/global-financial-centres-index\/gfci-35-explore-the-data\/gfci-35-rank\/\" style=\"\" rel=\"noopener\"><\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.longfinance.net\/programmes\/financial-centre-futures\/global-financial-centres-index\/gfci-35-explore-the-data\/gfci-35-rank\/\" style=\"\" rel=\"noopener\">Financial Centres Index<\/a><\/strong>, published by London\u2019s commercial think-tank firm <a target=\"_blank\" href=\"https:\/\/www.zyen.com\/\" style=\"\" rel=\"noopener\">Z\/Yen Group<\/a> and <a target=\"_blank\" href=\"https:\/\/en.cdi.org.cn\/\" style=\"\" rel=\"noopener\">China Development Institute<\/a>. Abu Dhabi was second in the region, ranking 37th globally among 121 global financial centers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Occupancy rates at Dubai hotels hit their highest levels in eight years in January<\/strong>, with revenue per room recording AED 535, up 10.5% y-o-y, <a target=\"_blank\" href=\"https:\/\/www.emaratalyoum.com\/business\/local\/2024-03-22-1.1837576\" style=\"\" rel=\"noopener\">Emarat Al Youm<\/a> reports.<\/p>\n<p class=\"tag-border-left\">WAR WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More aid to Gaza:<\/strong> The third UAE aid ship departed from the Port of Fujairah carrying 4.6k tonnes of humanitarian supplies for Gaza yesterday as part of the Gallant Knight 3 humanitarian operation, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/13twevn-third-uae-ship-carrying-aid-for-gaza-sets-sails\" style=\"\" rel=\"noopener\">Wam<\/a> writes. Meanwhile, the UAE and Egypt also completed another round of their Birds of Goodness aid dispatch, airdropping 24 tonnes of food and relief aid bringing the total amount of aid to 510 tonnes since the start of the operations, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2b060a-birds-goodness-executes-13th-humanitarian-aid\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Yesterday\u2019s dispatch brings the total number of airdrop missions to 13. <\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s shaping up to be a relatively quiet, holiday-shortened news week.<\/strong> Friday-Monday are off in much of the Western world in observance of the Good Friday and Easter, while Indian markets are closed today as the nation celebrates Holi and markets in Greece are also closed today for Independence Day. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Today is deadline day for Donald Trump<\/strong>, who needs to raise a USD 464 mn guarantee in connection with his appeal of a fraud case. His Truth Social network is <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-cash-spac-digital-world-dwac-ce4b055545378ab05d52513ffe2d4d4f\" style=\"\" rel=\"noopener\">set to go public with a Spac<\/a> that his supporters have pumped to the moon, but there\u2019s no vote before Friday and a listing on NYSE would come a bit further down the road.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sam Bankman-Fried will be sentenced on Thursday<\/strong> after his conviction on fraud charges and related charges. And oddly enough: <a target=\"_blank\" href=\"https:\/\/www.businessinsider.com\/sbf-sentencing-ftx-customers-get-money-back-should-it-matter-2024-3\" style=\"\" rel=\"noopener\">FTX customers may still get all of their money back<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE-<\/strong><\/p>\n<ul>\n<li><strong>China is moving to ban Intel and AMD chips<\/strong> in government PCs and servers (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/7bf0f79b-dea7-49fa-8253-f678d5acd64a\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/li>\n<li><strong>US investment funds have pulled nearly USD 14 bn from BlackRock<\/strong> as part of an anti-ESG campaign. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/9306c8f2-530d-45ca-a830-4d26e5a90509\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/li>\n<li><strong>France has raised its terror alert to the highest level <\/strong>in the wake of this weekend\u2019s Isis attack on Moscow. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/france-raises-terror-alert-warning-highest-level-2024-03-24\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<li><strong>The AI and clean-tech booms have made electricity a bull market <\/strong>for the first time in decades \u2014 and could \u201cderail the power sector\u2019s journey to net zero.\u201d (<a target=\"_blank\" href=\"https:\/\/www.semafor.com\/article\/03\/22\/2024\/electricity-bull-market\" style=\"\" rel=\"noopener\">Semafor<\/a>)<\/li>\n<\/ul>\n<p class=\"tag-border-left\">CIRCLE YOUR CALENDAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tickets for the 2024 Saudi Super Cup matches being held in Abu Dhabi from 8-11 <\/strong><strong>April are now on sale<\/strong>. Tickets are available starting at AED 75 through <a target=\"_blank\" href=\"http:\/\/ticketmaster.ae\" style=\"\" rel=\"noopener\">Ticketmaster<\/a>, with matches scheduled at Al Nahyan Stadium and Mohammed bin Zayed Stadium.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/aldar-properties\/\">Aldar Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/brookfield\/\">Brookfield<\/a>\n                <!-- 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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=\"90386\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/mbc-group-snaps-up-a-nearly-14-stake-in-anghami-ahead-of-osn-anghami-merger\/\">\r\n                            MBC Group snaps up a nearly 14% stake in Anghami ahead of OSN-Anghami merger                        <\/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\" 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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\/03\/25\/mbc-group-snaps-up-a-nearly-14-stake-in-anghami-ahead-of-osn-anghami-merger\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2152.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90387\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/mbc-group-snaps-up-a-nearly-14-stake-in-anghami-ahead-of-osn-anghami-merger\/2152-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2152.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2152.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2152.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2152.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90386\" class=\"content-area-description single-story post-90386 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-anghami tag-enterpriseam-uae tag-investment-watch tag-ma-watch tag-mbc tag-osn 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\/3\/.7124903a-43e4-44c5-a609-794e54c7a634.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> MBC Group buys into Anghami:<\/strong> MBC Ventures, the VC arm of regional broadcaster MBC Group, has acquired a 13.7% stake in Abu Dhabi-based music-streaming platform Anghami, buying 4 mn ordinary shares, Anghami said in a <a target=\"_blank\" href=\"https:\/\/app.quotemedia.com\/data\/downloadFiling?webmasterId=90423&ref=318084443&type=HTML&symbol=ANGH&cdn=3232aa73ade7b124f2beeb2ae5fcd788&companyName=Anghami+Inc.&formType=SC+13G%2FA&formDescription=%5BAmend%5D+Statement+of+acquisition+of+beneficial+ownership+by+individuals&dateFiled=2024-02-20\" style=\"\" rel=\"noopener\">regulatory filing<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The transaction is worth about USD 4 mn<\/strong> based on Anghami\u2019s share price (USD 1.00 a piece) on 19 March 2024 \u2014 the last trading day before the transaction was disclosed \u2014 according to <a target=\"_blank\" href=\"https:\/\/www.musicbusinessworldwide.com\/saudi-arabian-media-giant-mbc-quietly-bought-a-14-stake-in-anghami-last-month\/\" style=\"\" rel=\"noopener\">Music Business Worldwide<\/a>. Anghami\u2019s shares rose 59% on the day of the transaction to USD 1.59 a piece and it closed at <a target=\"_blank\" href=\"https:\/\/www.nasdaq.com\/market-activity\/stocks\/angh\" style=\"\" rel=\"noopener\">USD 1.74 a piece<\/a> on Friday \u2014bringing the total value of MBC\u2019s holding in the music service to USD 7 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dodging a bullet<\/strong>: Anghami\u2019s shares plunged below the USD 1.00 minimum threshold set by Nasdaq last year, triggering <a target=\"_blank\" href=\"https:\/\/app.quotemedia.com\/data\/downloadFiling?webmasterId=90423&ref=317799863&type=HTML&symbol=ANGH&cdn=98f51d3b84906ea5dac26e6937b0b5cc&companyName=Anghami+Inc.&formType=6-K&formDescription=Report+of+foreign+private+issuer+pursuant+to+Rule+13a-16+or+15d-16+under+the+Securities+Exchange+Act+of+1934&dateFiled=2023-10-12#ea186634ex99-1_anghami.htm\" style=\"\" rel=\"noopener\">a warning notification by the exchange<\/a> for the company to get back into compliance within six months. The company said at the time it would consider a reverse stock split if it didn\u2019t get its share price back above USD 1.00.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise? What\u2019s a reverse stock split? <\/strong>The awkward term refers to a form of consolidation: It\u2019s when a company reduces the number of outstanding shares such that shareholders receive fewer shares than they previously owned, but the value of each share is proportionally increased. For example, a 2:1 reverse split would see shareholders get one share worth USD 2.00 for every two shares they held at USD 1.00 each.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Anghami\u2019s net losses rose 3x to USD 61 mn in 2022<\/strong>, while its revenue increased 37% y-o-y to USD 48.5 mn, according to <a target=\"_blank\" href=\"https:\/\/www.nasdaq.com\/market-activity\/stocks\/angh\/financials\" style=\"\" rel=\"noopener\">a regulatory filing<\/a>. The company\u2019s revenue rose 8% y-o-y to USD 30 mn in 9M 2023, while its gross profit margin increased 22% y-o-y and its <a target=\"_blank\" href=\"https:\/\/www.musicbusinessworldwide.com\/anghami-subscriber-base-grows-in-q3-2023\/\" style=\"\" rel=\"noopener\">subscriber base grew 17% y-o-y to 1.7 mn<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s in it for them: <\/strong>The transaction boosts Anghami\u2019s reach and content given the extensive distribution network of MBC, including non-subscription channels and paid streaming services such as Shahid VIP. For MBC, the investment expands its presence in the streaming market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHAT\u2019S NEXT- A merger with OSN+ this quarter: <\/strong>Anghami agreed in November 2023 to merge with Dubai-based TV satellite and streaming company OSN+, according to <a target=\"_blank\" href=\"https:\/\/talks.anghami.com\/anghami-and-osn-sign-landmark-transaction-set-to-transform-mena-entertainment\/\" style=\"\" rel=\"noopener\">a joint statement<\/a>. This will be in the way of a USD 50 mn investment from OSN Group at a valuation of USD 3.65 per share (2x the current share price), making it a major shareholder in Anghami. The transaction is expected to reach a close this quarter. The new video-music platform would have a total of 120 mn users, 2.5 mn paying subscribers and USD 100 in revenue at closing.<\/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\/anghami\/\">Anghami<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mbc\/\">MBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/osn\/\">OSN<\/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=\"90388\" 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=\"90388\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/ad-port-acquires-majority-stake-in-georgias-tbilisi-dry-port\/\">\r\n                            AD Port acquires majority stake in Georgia\u2019s Tbilisi Dry Port                        <\/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\/03\/25\/ad-port-acquires-majority-stake-in-georgias-tbilisi-dry-port\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The project, which looks to be operational by 4Q 2024, is slated to act as a key hinge in the strategically vital Middle Corridor, an emerging trade route linking manufacturing hubs in Western Asia to markets in Eastern Europe. No details regarding the investment ticket were disclosed in the statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s involved?<font face=\"Arial\">&nbsp;<\/font><\/strong>AD Ports\u2019 logistics subsidiary Noatum will operate and manage facilities at the port, while coordinating with partners Inveco and Wilhelmsen, the release explained. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The project covers two land plots that will be developed over three phases, with the initial phase seeing a handling capacity of some 96.5k TEUs, 10k sqm of warehousing space, and car storage yards, the statement also said. The third phase will see capacity boosted to 286k TEU, 100k sqm of warehousing space, and more expansive car storage yards. An additional 88k sqm of land is available for future expansion subject to volume growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on the dry port: <\/strong>The intermodal logistics hub connects the Caspian Sea and Black Sea via Turkey, Georgia, and Azerbaijan, the statement said. The port will consist of a range of integrated facilities, including a container freight station, warehouses, and a car storage park, and will serve as an entry, exit, and regional transit point for manufacturers, shippers, and consignees moving containers, vehicles, and other merchandise for distribution and storage. <\/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 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/8edf9e4b-0ac1-4f35-af51-9d8b15bba502\" style=\"\" rel=\"noopener\">finalized its acquisition of Spain-based Noatum<\/a> in mid-2023, 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-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ad-ports\/\">AD Ports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"90390 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"90390\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/90390-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90390\" class=\"content-area-description single-story post-90390 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"http:\/\/www.mashreq.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/386.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"90391\" 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=\"90391\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/international-resources-holding-completes-mopani-copper-mines-in-zambia-acquisition\/\">\r\n                            International Resources Holding completes Mopani Copper Mines in Zambia acquisition                        <\/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\/03\/25\/international-resources-holding-completes-mopani-copper-mines-in-zambia-acquisition\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The value of the transaction was not disclosed in the statement, but <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/abu-dhabis-irh-invest-11-bln-zambias-mopani-copper-mines-2023-12-22\/\" style=\"\" rel=\"noopener\">previous reports<\/a> indicated that IRH would invest USD 1.1 bn for a 51% stake.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Breakdown:<\/strong> The financial terms of the agreement involves an equity component of USD 620 mn as well as a USD 400 mn loan component, according to ZCCM Investments Holdings\u2019 statement. Last month, Zambia\u2019s state-owned ZCCM Investments Holdings approved the transaction, retaining 49% ownership and three out of nine board seats, according to a <a target=\"_blank\" href=\"https:\/\/www.zccm-ih.com.zm\/2024\/02\/27\/zccm-ih-shareholders-unanimously-approve-the-mopani-copper-mines-transaction\/\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>IRH is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/482e41b3-3619-4bbd-95ac-21dfbd9c9c4d\/\" style=\"\" rel=\"noopener\">also reportedly looking<\/a> to bid for private equity player EMR Capital's 80% stake in Zambia\u2019s Lubambe Copper Mine. EMR Capital previously received a USD 1 mn offer from China's JHCX Mining. JHCX Mining also offered to take over the project's USD 857 mn debt.<\/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\/international-holding-company\/\">International Holding Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/international-resources-holding\/\">International Resources Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"90393\" 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=\"90393\">\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\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/could-exposure-to-high-emitting-sectors-pose-liquidity-legal-risks-to-gcc-lenders\/\">\r\n                            Exposure to high-emitting sectors could pose liquidity, legal risks to GCC lenders \u2013S&amp;P                        <\/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\/03\/25\/could-exposure-to-high-emitting-sectors-pose-liquidity-legal-risks-to-gcc-lenders\/\" 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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lenders?&url=https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/could-exposure-to-high-emitting-sectors-pose-liquidity-legal-risks-to-gcc-lenders\/\">\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\/03\/25\/could-exposure-to-high-emitting-sectors-pose-liquidity-legal-risks-to-gcc-lenders\/&title=Could exposure to high-emitting sectors pose liquidity, legal risks to GCC lenders?\">\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=Could+exposure+to+high-emitting+sectors+pose+liquidity%2C+legal+risks+to+GCC+lenders%3F+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F03%2F25%2Fcould-exposure-to-high-emitting-sectors-pose-liquidity-legal-risks-to-gcc-lenders%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\/03\/25\/could-exposure-to-high-emitting-sectors-pose-liquidity-legal-risks-to-gcc-lenders\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2075.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90394\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/could-exposure-to-high-emitting-sectors-pose-liquidity-legal-risks-to-gcc-lenders\/2075-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2075.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2075.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2075.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2075.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90393\" class=\"content-area-description single-story post-90393 post type-post status-publish format-standard has-post-thumbnail hentry category-banking tag-banking tag-debt tag-enterpriseam-uae tag-sp-global-ratings 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\/3\/.9d969b8a-c35d-40b7-86e8-7c14a98c186e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Climate transition poses a number of downside risks to GCC banks<\/strong>,<strong> <\/strong>especially to those with extensive exposure to high-emitting industries and borrowers, according to a <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/ratings\/en\/research\/articles\/240321-credit-faq-gcc-banks-climate-transition-journey-has-only-just-begun-13039777\" style=\"\" rel=\"noopener\">recently-published FAQ by S&amp;P Global Ratings<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: <\/strong>As we move closer to net-zero targets, lenders that have big blocks of clients in carbon-emitting sectors could start to see their access to finance get more expensive \u2014 and may face legal risks a bit further out. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The UAE aims to deliver on its net-zero target by 2050, with USD 163 bn in earmarked investments and 50% renewables energy-mix target for 2050. Meanwhile, Saudi Arabia wants renewables to account for 50% of its electricity production by 2030 with USD 187 bn in investments committed to climate action by 2030 and a 2060 net-zero target. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The methodology: <\/strong>The rating agency assessed the direct lending of rated GCC banks to the sectors most impacted by the transition to clean energy, including oil and gas, mining, quarrying, manufacturing, and fossil fuel-fired power generation sectors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Direct lending to carbon-intensive players accounted for 12% of GCC banks\u2019 overall loan <\/strong><strong>book in 2023 <\/strong>\u2014 a rate that S&amp;P calls \u201cmanageable\u201d \u2014 and has remained basically unchanged for the past three years, the rating agency said citing disclosures by the region\u2019s central banks. It\u2019s important to note that state-owned oil giants typically self-finance via JVs and \/ or tap global debt markets for financing\u2014 explaining the low ratio. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some lenders are at a higher risk than others: <\/strong>GCC banks that depend heavily on foreign funding have higher liquidity risk than others because a shift in investor appetite for lenders with exposure to carbon-emitting sectors could result in outflows of funds, squeezing local liquidity. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Diversification of financing sources: <\/strong>Regional banks have issued more sustainable bonds and sukuk over the past two years to mitigate against the risk of lower liquidity and unlock new sources of funding. Sustainable debt issuances led by Saudi and the UAE doubled y-o-y to USD 23 bn in 2023. Meanwhile, the Middle East accounts for a mere 3% of global sustainable issuances.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How regional lenders are faring in climate risk reporting:<\/strong> Only two thirds of the 20 reviewed GCC rated banks have published a materiality assessment, while only 30% consider environmental risk as a key risk. Only four of the assessed lenders have \u201ccommunicated publicly that exclusion policies are part of their risk management framework,\u201d S&amp;P notes. Meanwhile, none of these lenders is in an advanced stage of implementing climate risk-adjusted loan pricing, while 70% of them offer sustainability-labeled products.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two of the UAE\u2019s banks are on the right track: <\/strong>First Abu Dhabi Bank and Abu Dhabi Commercial Bank are the only two banks in the region who are members of the net-zero banking alliance and who have communicated publicly about planned sustainable financings with a predetermined deadline, according to S&amp;P Global. FAB is also classified to be among the most advanced banks in terms of quantifying targets for financed emissions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More work on the regulatory front is required<\/strong>, including the incorporation of climate change into stress tests and scenarios that encompass mitigation measures. The Central Bank of the UAE\u2019s principles for the effective management of climate-related financial risks are a \u201cstep in the right direction,\u201d the agency said, adding that it will still require \u201csignificant investments\u201d from UAE banks in order to be effective. <\/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\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sp-global-ratings\/\">S&amp;P Global Ratings<\/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=\"90395\" 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=\"90395\">\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\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/kowepco-and-edf-set-to-build-uaes-1-5-gw-khazna-solar-project\/\">\r\n                            Kowepco and EDF set to build UAE\u2019s 1.5 GW Khazna solar project                        <\/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\/03\/25\/kowepco-and-edf-set-to-build-uaes-1-5-gw-khazna-solar-project\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The project \u2014 located in Abu Dhabi\u2019s Al-Khazna bordering Al Ain \u2014 will be completed by 2027. Kowepco is also expected to supply important equipment to domestic companies. The investment ticket was not disclosed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the solar farm: <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ac5a6d33-aaf5-4511-a65a-c057c0232f85\" style=\"\" rel=\"noopener\">The Khazna Solar Photovoltaic Power Project<\/a> is a greenfield solar power project with a generation capacity of 1.5 GW expected to be similar in scale and production capacity to <a target=\"_blank\" href=\"https:\/\/climate.enterprise.press\/stories\/2023\/09\/10\/swedens-h2-green-steel-lands-funding-for-mega-green-steel-plant-102582\/\" style=\"\" rel=\"noopener\">Al Dhafra<\/a> Solar PV and <a target=\"_blank\" href=\"https:\/\/climate.enterprise.press\/stories\/2023\/07\/10\/today-uks-actis-is-reportedly-close-to-acquiring-a-580-mw-wind-farm-in-egypt-101803\/\" style=\"\" rel=\"noopener\">Al Ajban<\/a> Solar PV. Once fully operational, the project is expected to reduce CO2 emissions by over 2.4 mn tons per year \u2014 equivalent to removing about 470k cars from the road.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Emirates Water and Electricity Company<font face=\"Arial\"> <\/font>(Ewec) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ac5a6d33-aaf5-4511-a65a-c057c0232f85\" style=\"\" rel=\"noopener\">invited developers<\/a> to submit expressions of interest for the development of the Khazna solar farm last year. The selected developer will be tasked with constructing, financing, operating, maintaining, and owning the solar plant, with Ewec being the sole offtaker of solar power generated under a long-term 30-year PPA.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not the pair\u2019s first UAE venture: <\/strong>Kowepco and EDF were selected by Ewec <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6f8be454-7e03-4f2b-aae5-926c113a0af0\/EDF-%2B-Korea-Western-Power-set-to-build-UAE%E2%80%99s-1.5-GW-Al-Ajban-solar-project\" style=\"\" rel=\"noopener\">last month<\/a> to develop the 1.5 GW <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/43031cf2-39a8-4286-aa35-e6dddbd11964\" style=\"\" rel=\"noopener\">Al Ajban solar IPP project<\/a> for an estimated investment ticket of USD 748 mn. The plant will break ground in June and is set for completion in 2026. The partners are also currently developing Oman\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/13e04bb2-8f33-4830-a313-ef533ce04fba\" style=\"\" rel=\"noopener\">500 MW Manah solar project<\/a> which will provide clean energy for approximately 50k homes while offsetting 780k tons of CO2 annually.<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ewec\/\">Ewec<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/solar-energy\/\">solar energy<\/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=\"90397\" 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=\"90397\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/orascom-construction-reports-net-income-rise-as-backlog-records-record-high\/\">\r\n                            Egypt\u2019s Orascom Construction reports net income rise in 2023 as backlog records record high                        <\/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\/03\/25\/orascom-construction-reports-net-income-rise-as-backlog-records-record-high\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The construction giant recorded revenues of USD 3.4 bn in 2023 \u2014 a 19.4% y-o-y decrease \u2014 which the company attributed to the devaluation of the EGP as its figures are denominated in USD.<\/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 company\u2019s revenues dipped 10.9% y-o-y to USD 1 bn in 4Q 2023, which contributed to a 21.5% y-o-y drop in net income to USD 43.8 mn in the same period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Backlog hits historic high, new awards triple in 4Q:<\/strong> Projects in Egypt accounted for 68.3% of Orascom Construction\u2019s total consolidated backlog, which rose 45.7% y-o-y to reach a record USD 8.1 bn in 2023. The company\u2019s new awards rose 234.3% y-o-y in 4Q to USD 1.9 bn, driving new awards up 58.8% y-o-y to USD 5.8 bn in 2023. Egypt projects constituted 66% of the company\u2019s new awards in 4Q.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s currency float may shake things up:<\/strong> Orascom Construction\u2019s backlog figures are calculated based on Egypt\u2019s official exchange rate as of 31 December 2023. Should the EGP come to settle at 50 to the greenback following the float, the company\u2019s 2023 backlog figures would be c.8.2% lower at USD 7.4 bn, the statement said. The EGP currently stands around 46 to the greenback according to the country\u2019s current official rate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking forward:<\/strong> \u201cWe continue to deliver consistent results as we execute our long-term operational, financial, and capital allocation strategies. We also believe that we have established the right fundamentals that have allowed us to navigate the current environment and position us well for the challenges of 2024,\u201d company CEO Osama Bishai said.<\/p>\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>Sharjah Cement &amp; Industrial Development\u2019s net income stood at AED 3.7 mn in 2023<\/strong>,compared to a net loss of AED 39.6 mn in 2022, according to the firm\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2106.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a>. The company\u2019s revenues stood at AED 634.5 mn, down 0.15% y-o-y. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bildco reports net loss:&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/bildco.ae\/\" style=\"\" rel=\"noopener\">Abu Dhabi National Building Materials Company (Bildco)<\/a> reported a net loss of AED 25 mn in 2023, according to the firm\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2103.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a>. The company saw its revenues climb 31.6% y-o-y to AED 41.2 mn.<\/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\/construction\/\">CONSTRUCTION<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/infrastructure\/\">infrastructure<\/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=\"90399\" 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=\"90399\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/sultan-al-jaber-re-elected-adnoc-drilling-chairman\/\">\r\n                            Sultan Al Jaber re-elected Adnoc Drilling chairman                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/sultan-al-jaber-re-elected-adnoc-drilling-chairman\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/sultan-al-jaber-re-elected-adnoc-drilling-chairman\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/sultan-al-jaber-re-elected-adnoc-drilling-chairman\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Sultan Al Jaber re-elected Adnoc Drilling chairman&url=https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/sultan-al-jaber-re-elected-adnoc-drilling-chairman\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/sultan-al-jaber-re-elected-adnoc-drilling-chairman\/&title=Sultan Al Jaber re-elected Adnoc Drilling chairman\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Sultan+Al+Jaber+re-elected+Adnoc+Drilling+chairman+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F03%2F25%2Fsultan-al-jaber-re-elected-adnoc-drilling-chairman%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/sultan-al-jaber-re-elected-adnoc-drilling-chairman\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2113.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90400\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/sultan-al-jaber-re-elected-adnoc-drilling-chairman\/2113-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2113.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2113.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2113.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2113.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90399\" class=\"content-area-description single-story post-90399 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-adnoc-drilling tag-enterpriseam-uae tag-moves tag-sultan-al-jaber 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\/3\/.00034b72-4bde-45f0-8a72-27ae43b78b33.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adnoc CEO and Industry Minister Sultan Ahmed Al Jaber has been re-elected as <\/strong><strong>Adnoc Drilling\u2019s board of directors\u2019 chairperson<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2155.pdf\" style=\"\" rel=\"noopener\">ADX filing (pdf)<\/a>. Saif Alkindi (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/saif-al-kindi\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) was also re-elected as Adnoc Drilling\u2019s vice-chairperson.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Education Minister Ahmad Al Falasi has been reappointed as the UAE Space <\/strong><strong>Agency\u2019s chairman<\/strong>, a position he held from 2017 to 2020, according to a <a target=\"_blank\" href=\"https:\/\/twitter.com\/uaespaceagency\/status\/1771163335918010682?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1771163335918010682%7Ctwgr%5E0968586aca7b5e82a8bacb0fa2a38fa3571a9f21%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.thenationalnews.com%2Fuae%2F2024%2F03%2F23%2Fahmad-belhoul-al-falasi-reappointed-as-uae-space-agency-chief%2F\" style=\"\" rel=\"noopener\">statement<\/a>. Al Falasi previously chaired the General Authority of Sports, and served as Minister of State for Entrepreneurship and SMEs. He will be replacing the UAE Space Agency\u2019s former chair \u2014 and youngest woman to lead a space agency \u2014 Sarah Al Amiri.<\/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\/adnoc-drilling\/\">Adnoc Drilling<\/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\/sultan-al-jaber\/\">Sultan Al Jaber<\/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=\"90401\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43010.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.mashreq.com\/en\/uae\/neo\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/20607.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Rise every day<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43009.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/20617.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"90402\" 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=\"90402\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/fractal-marine-dmcc-unable-to-stop-uk-sanctions-faces-potential-closure\/\">\r\n                            Fractal Marine DMCC unable to stop UK sanctions, faces potential closure                        <\/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\/03\/25\/fractal-marine-dmcc-unable-to-stop-uk-sanctions-faces-potential-closure\/\" 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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Legal representatives of the company have labeled the UK government's accusations that the company has links with Russia\u2019s shadow fleet as unfounded and warned of potential liquidation if the sanctions persist.<\/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\/uae-in-the-news\/\">UAE IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"90404\" 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=\"90404\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/iota-launches-usd-10-mn-investment-fund-barakah-nuclear-plant-is-now-online\/\">\r\n                            IOTA launches USD 10 mn investment fund + Barakah nuclear plant is now online. PLUS: Joby is optimistic about air taxi ambitions in Dubai                        <\/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\/03\/25\/iota-launches-usd-10-mn-investment-fund-barakah-nuclear-plant-is-now-online\/\" 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\/03\/25\/iota-launches-usd-10-mn-investment-fund-barakah-nuclear-plant-is-now-online\/')\">\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\/03\/25\/iota-launches-usd-10-mn-investment-fund-barakah-nuclear-plant-is-now-online\/\">\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=IOTA launches USD 10 mn investment fund + Barakah nuclear plant is now 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href=\"https:\/\/api.whatsapp.com\/send?text=IOTA+launches+USD+10+mn+investment+fund+%2B+Barakah+nuclear+plant+is+now+online+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F03%2F25%2Fiota-launches-usd-10-mn-investment-fund-barakah-nuclear-plant-is-now-online%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\/03\/25\/iota-launches-usd-10-mn-investment-fund-barakah-nuclear-plant-is-now-online\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2181.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90405\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/iota-launches-usd-10-mn-investment-fund-barakah-nuclear-plant-is-now-online\/2181-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2181.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2181.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2181.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2181.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90404\" class=\"content-area-description single-story post-90404 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-barakah-nuclear-plant tag-enterpriseam-uae tag-investment tag-nuclear-energy 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\/3\/.297ac99b-0950-4da5-bb17-a7df3282dd82.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">INVESTMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IOTA launches USD 10 mn tradetech investment fund: <\/strong>Global tech network IOTA\u2019s newly-founded vehicle, IOTA Ecosystem DLT Foundation, officially launched its new USD 10 mn fund at an event in Abu Dhabi yesterday, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/13tweyy-iota-foundation-launches-10-million-investment\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Launched in partnership with global trade infrastructure TLIP, the USD 10 mn vehicle is geared toward funding UAE-based African startups and ventures in the fields of tangible asset tokenization, tradetech and trade finance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>Asset tokenization is a process that represents digital tokens as tangible assets, such as financial assets, bonds, shares or equity, stretching to art, commodities, intellectual property and real estate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> IOTA launched IOTA Ecosystem DLT Foundation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/af6235ed-f704-48a3-ba24-e62daf6f3565\/\" style=\"\" rel=\"noopener\">in November<\/a>, with over USD 100 mn in IOTA tokens in seed funds. The foundation is the first established under Abu Dhabi Global Market\u2019s distributed ledger technology <a target=\"_blank\" href=\"https:\/\/www.adgm.com\/media\/announcements\/adgm-introduces-the-worlds-first-dlt-foundations-regime\" style=\"\" rel=\"noopener\">(DLT) foundations regulations<\/a>, which were introduced in February.<\/p>\n<p class=\"tag-border-left\">ENERGY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1-<\/strong><strong>Barakah nuclear plant is now online: <\/strong>The Barakah Nuclear Energy Plant is now fully operational after the fourth and final reactor of the plant has been successfully connected to the UAE\u2019s power grid, according to the <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/emirates-nuclear-energy-corporation_barakahforthenation-activity-7177184248456437760-GH8L?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">Emirates Nuclear Energy Corporation<\/a>. The unit will amp up the power grid\u2019s capacity by 1.4k MW of clean energy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI<\/strong>- <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ad13b83b-8291-4c4e-8fec-3c3ca5d88c2d\/barakah-one%25e2%2580%2599s-aed-8.89-bn-refinancing-gets-green-loan-label#:~:text=ICYMI%2DEarlier,generated%20electricity%20annually.\" style=\"\" rel=\"noopener\">Earlier this month<\/a>, Enec\u2019s operating and maintenance subsidiary Nawah Energy Company started up the plant\u2019s fourth unit. The fourth unit has generated more than 60GWh of clean electricity. After starting full commercial operations later this year, the plant expects to offset some 22.4 mn tonnes of emissions with 40 TWh of generated electricity annually.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong><strong>Positive Zero sets its sights on UAE + Oman: <\/strong>Dubai-based decarbonization firm <a target=\"_blank\" href=\"https:\/\/www.positivezero.com\/\" style=\"\" rel=\"noopener\">Positive<\/a><a target=\"_blank\" href=\"https:\/\/www.positivezero.com\/\" style=\"\" rel=\"noopener\">Zero<\/a> and <a target=\"_blank\" href=\"https:\/\/www.se.com\/en\/\" style=\"\" rel=\"noopener\">Schneider Electric<\/a> have inked an agreement to ramp up the adoption of clean energy technologies in the UAE and Oman, according to a Thursday <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/1999.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The agreement will see the two companies cooperate on distributed microgrid projects, clean mobility solutions, energy efficiency, and sustainability.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fast facts:<\/strong> The global energy-as-a-service market is expected to cross USD 112 bn by 2030 on the back of a heightened adoption of distributed energy resources and green solutions, the press release adds, citing SkyQuest Technology. American multinational investment firm BlackRock pledged a USD 400 mn investment in Positive Zero in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d622b5a7-d1f6-4bfd-ab03-8b259bb03999\/blackrock-to-invest-usd-400-mn-in-dubai-decarbonization-firm\" style=\"\" rel=\"noopener\">December 2023<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Beeah\u2019s solid waste management JV in KSA gets a nod:<\/strong> The General Authority for Competition (GAC) approved the setup of a joint venture comprising Madinah Regional Municipality\u2019s investment arm Al Mqr Development, Saudi Investment Recycling (SIRC) subsidiary Akam and UAE\u2019s waste management firm Beeah for solid waste management in Madinah, <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2482006\/business-economy\" style=\"\" rel=\"noopener\">Arab News<\/a> reported yesterday. The JV is set to tackle sewage control and treatment hurdles in Madinah through developing sorting stations, public landfills and other infrastructure. No further details were provided on the joint venture or when it plans to begin operations.<\/p>\n<p class=\"tag-border-left\">TRANSPORT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US-based air taxi startup Joby expects to launch commercial operations in Dubai<\/strong><strong> as early as the end of next year, before launching in the US<\/strong>, Joby\u2019s president of operations, Bonny Simi, told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-22\/air-taxi-startup-joby-sees-start-of-dubai-services-before-the-us\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. Progress on a partnership with Dubai is \u201ca bit more advanced in the approach that they\u2019re taking\u201d compared to other regions, according to Simi, who also credits Dubai\u2019s government\u2019s efforts to \u201cremove roadblocks\u201d for helping \u201cde-risk\u201d that initial launch. The US-based firm plans to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b2a4a77b-0207-4729-b482-df5e077c487f\/dubai-to-abu-dhabi-in-30-minutes\" style=\"\" rel=\"noopener\">initiate its air taxi services<\/a> in the UAE by late 2025 or early 2026. <\/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\/barakah-nuclear-plant\/\">Barakah nuclear plant<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/nuclear-energy\/\">nuclear energy<\/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=\"90406\" 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=\"90406\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/imf-chief-calls-on-china-to-reinvent-itself-to-end-mounting-property-crisis\/\">\r\n                            IMF chief calls on China to \u201creinvent itself\u201d to end mounting property crisis                        <\/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\/03\/25\/imf-chief-calls-on-china-to-reinvent-itself-to-end-mounting-property-crisis\/\" 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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Georgieva urged China to implement policies to \u201creinvent itself,\u201d including measures that would boost domestic consumption and production rates and end the country\u2019s mounting property crisis.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>A more domestic consumption-centered policy mix could add USD 3.5 tn to China\u2019s economy over the next 15 years, but this depends on \u201cboosting the spending power of individuals and families,\u201d reducing risks from local government debt, and completing abandoned housing projects, Georgieva said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Chinese economic miracle no more? <\/strong>Foreign direct investment to the world\u2019s factory in 2023 hit its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0e1495ad-1a4d-4f74-b404-ee09522ef45d\/foreign-direct-investment-in%253cmark%253e-china-%253c%2Fmark%253ehits-lowest-level-since-1993\" style=\"\" rel=\"noopener\">lowest level in three decades<\/a> on the back of slow post-pandemic recovery and the property crisis continuing to worsen with the country\u2019s largest property developer <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f4b947d8-7556-448a-8b50-618d672ebf63\" style=\"\" rel=\"noopener\">defaulting<\/a> on a USD bond in October. The slowdown in China also led credit rating agency Moody\u2019s to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e0022b80-dc73-486c-9206-9635e1143edd\/moody%25e2%2580%2599s-issues-negative-outlook-for-global-banks\" style=\"\" rel=\"noopener\">downgrade its outlook<\/a> on the country\u2019s sovereign credit rating to negative from stable in December.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH NOTING-<\/strong><\/p>\n<ul>\n<li><strong>OQ Oman taps advisors for upcoming IPOs: <\/strong>Omani state-owned oil and gas player <a target=\"_blank\" href=\"https:\/\/oq.com\/en\" style=\"\" rel=\"noopener\">OQ<\/a> has tapped HSBC to help list the company\u2019s exploration and production arm that could raise a record USD 1 bn \u2014 a record for the country. Morgan Stanley will help list the company\u2019s methanol and liquefied petroleum gas business. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-22\/oman-state-energy-firm-is-said-to-pick-banks-to-list-two-units\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/li>\n<li><strong>Bahraini wealth fund takes over<\/strong><strong>UK\u2019s McLaren:<\/strong> Bahraini sovereign wealth fund <a target=\"_blank\" href=\"https:\/\/www.mumtalakat.bh\/\" style=\"\" rel=\"noopener\">Mumtalakat<\/a> has become the sole owner of the UK\u2019s supercar maker <a target=\"_blank\" href=\"https:\/\/www.mclaren.com\/\" style=\"\" rel=\"noopener\">McLaren Group<\/a> after increasing its share to 100% from 60%. (<a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/business-68639320\" style=\"\" rel=\"noopener\">BBC<\/a>)<\/li>\n<\/ul>\n<p class=\"tag-border-left\"> THE MARKET THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are in the red and US and European futures largely unchanged <\/strong>as traders look ahead to a holiday-shortened trading week. Dow, S&P, and Nasdaq futures were all down by fractions of a percentage point. The Kospi, Hang Seng, Nikkei, and Shanghai Composite were all (just) in the red at dispatch time this morning. <\/p>\n<p><a target=\"_blank\" id=\"t.f05a66317e19503e9e2d01d73eb7917a6f148281\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,322<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: -2.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,280<\/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: +5.4%)<\/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>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\">3,766<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: -2.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.1% o\/n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.3% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-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>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,796<\/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\">-0.3% (YTD: +6.9%)<\/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>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\">29,060<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +16.7%)<\/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>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\">5,234<\/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: +9.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,931<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +11.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,031<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +11.3%)<\/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>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 85.43<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-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>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 1.66<\/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-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 2,181.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.1%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 66,499.80<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.38% (YTD: +50.3%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The DFM rose 0.1% yesterday<\/strong> on turnover of AED 418 mn. The index is down 5.4% 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>Al Firdous Holdings (+14.7%), Ithmaar Holding (+8.9%) and Ekttitab Holding Company (+4.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Air Arabia (-5.7%), Al Salam Bank (-3.3%) and Mashreq (-2.8%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on<\/strong><strong> the ADX<\/strong>, the index rose 0.4% on turnover of AED 792.5 mn, while Nasdaq Dubai closed up 0.4%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai Ins. approved distributing AED 70 mn in dividends to shareholders<\/strong>, equivalent to 70 fils per share, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/ar\/article\/articledetail\/id\/1713974\" style=\"\" rel=\"noopener\">Argaam<\/a> reports. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/bahrain\/\">Bahrain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/china\/\">China<\/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\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/kristalina-georgieva\/\">Kristalina Georgieva<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mumtalakat\/\">Mumtalakat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/oman\/\">Oman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/oq\/\">OQ<\/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                            <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=\"90408\" 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=\"90408\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/uae-egypt-presidents-meet-in-cairo-fm-discusses-gaza-with-cypriot-counterpart\/\">\r\n                            UAE, Egypt presidents meet in Cairo + FM discusses Gaza with Cypriot counterpart                        <\/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\/03\/25\/uae-egypt-presidents-meet-in-cairo-fm-discusses-gaza-with-cypriot-counterpart\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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         <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=UAE%2C+Egypt+presidents+meet+in+Cairo+%2B+FM+discusses+Gaza+with+Cypriot+counterpart+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F03%2F25%2Fuae-egypt-presidents-meet-in-cairo-fm-discusses-gaza-with-cypriot-counterpart%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\/03\/25\/uae-egypt-presidents-meet-in-cairo-fm-discusses-gaza-with-cypriot-counterpart\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2170.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90409\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/25\/uae-egypt-presidents-meet-in-cairo-fm-discusses-gaza-with-cypriot-counterpart\/2170-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2170.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2170.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2170.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2170.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90408\" class=\"content-area-description single-story post-90408 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-diplomacy tag-enterpriseam-uae tag-uae-egypt-relations wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.e2c05981-abd6-4536-b125-02e71b5573b2.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>President Sheikh Mohamed bin Zayed discussed bilateral relations and regional <\/strong><strong>issues with Egypt's President Abdel Fattah El Sisi in Cairo<\/strong> on Saturday, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2aeqvp-uae-egypt-presidents-meet-cairo-discuss-bilateral\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The two leaders touched on topics including Gaza's humanitarian situation and Middle East peace efforts. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign Affairs Minister Sheikh Abdullah bin Zayed Al Nahyan lauded Cyprus\u2019 aid<\/strong><strong> efforts<\/strong> for Gaza during talks in Abu Dhabi with Cyprus\u2019 Foreign Minister Konstantinos Kompos, where they also discussed Middle East developments, and affirmed support for the Amalthea initiative to set up an international maritime corridor delivering aid to Gaza from Cyprus. (<a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/13twevm-abdullah-bin-zayed-receives-cypriot-fm-commends\" style=\"\" rel=\"noopener\">Wam<\/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\"> OTHER DIPLO NEWS-<\/p>\n<ul>\n<li><strong>Condolences to Russia:<\/strong> Sheikh Mohamed bin Zayed, Sheikh Mohammed bin Rashid Al Maktoum, and Sheikh Mansour bin Zayed Al Nahyan expressed their condolences to Russian President Vladimir Putin for a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/russia-mourns-victims-deadly-concert-hall-attack-2024-03-24\/\" style=\"\" rel=\"noopener\">terrorist attack<\/a> at a Moscow concert hall. The UAE illuminated its landmarks in the colors of the Russian flag on Saturday in solidarity with the victims of the terrorist attack at a Moscow concert hall. (<a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2aeqsw-uae-leaders-condole-with-russian-president-victims\" style=\"\" rel=\"noopener\">Wam<\/a> | <a target=\"_blank\" href=\"https:\/\/wam.ae\/a\/b2aeqvr\" style=\"\" rel=\"noopener\">Wam<\/a>) <\/li>\n<li><strong>Energy and Infrastructure Minister Suhail Al Mazrouei met with the International <\/strong><strong>Atomic Energy Agency\u2019s Director General Rafael Grossi <\/strong>to discuss cooperation to improve international climate action on the sidelines of the Nuclear Energy Summit in Brussels. (<a target=\"_blank\" href=\"https:\/\/twitter.com\/MOEIUAE\/status\/1771882648228532663\" style=\"\" rel=\"noopener\">X<\/a> <strong><a target=\"_blank\" href=\"https:\/\/twitter.com\/MOEIUAE\/status\/1771882648228532663\" style=\"\" rel=\"noopener\"><\/a><\/strong><a target=\"_blank\" href=\"https:\/\/twitter.com\/MOEIUAE\/status\/1771882648228532663\" style=\"\" rel=\"noopener\">post<\/a>)<\/li>\n<li><strong>Sharjah, Thailand to boost economic and trade cooperation: <\/strong>The Sharjah Chamber of Commerce and Industry met yesterday with a diplomatic delegation from Thailand to discuss ramping up trade volumes, focusing on joint investment and participation in events, including through establishing a Thai business council and inking a comprehensive economic partnership agreement. (<a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b2b068s-scci-thai-ambassador-discuss-ways-expand-economic\" style=\"\" rel=\"noopener\">Wam<\/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\/uae-egypt-relations\/\">UAE-Egypt relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"90410\" 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\/03\/25\/90410-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90410\" class=\"content-area-description single-story post-90410 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;\">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;\">11-31 March (Monday-Sunday): Nad Al Sheba Sports Tournament, NAS Sports Complex. <\/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 March-14 April (Thursday-Sunday): Dakakeen Festival, Khorfakkan Amphitheatre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 March-10 April (Thursday-Wednesday): Ramadan Nights 2024, Expo Centre Sharjah.<\/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 March (Tuesday): Chimera JPMorgan UAE Bond UCITS ETF to debut on the ADX.<\/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>4-8 April (Wednesday- Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.theminacup.com\/\" style=\"\">The Mina Cup<\/a><\/span><span style=\"font-weight:400;\">, JA sports 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;\">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>15-16 April (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/blockchain-life.com\/asia\/en\/\" style=\"\">Blockchain Life Forum 2024<\/a><\/span><span style=\"font-weight:400;\">, Festival Arena, 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;\">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>16-18 April (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldfutureenergysummit.com\/en-gb\/ecowaste.html\" style=\"\">EcoWaste Exhibition and Forum<\/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;\">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>23-25 April (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.argusmedia.com\/en\/events\/conferences\/fertilizer-asia-conference\" style=\"\">Argus Fertilizer Asia Conference<\/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;\">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:400;\">24 April-1 May (Wednesday-Wednesday): Abu Dhabi Mobility Week.<\/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;\">24-25 April (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;\">25 April (Thursday): Bayanat AI and Yahsat simultaneous general assembly meetings <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25-26 April (Thursday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/posts\/driftx_driftx-smartautonomoustechnology-urbanmobility-activity-7155243737772613633-c5C_\/\" style=\"\">DRIFTx<\/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>29-30 April (Monday- Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/events.globalreinsurance.com\/dwic\/\" style=\"\">Dubai World Ins. Congress<\/a><\/span><span style=\"font-weight:400;\">, Atlantis, The Palm.  <\/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>1-5 May (Wednesday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sharjahanimation.com\/agenda\" style=\"\">The Sharjah Animation Conference<\/a><\/span><span style=\"font-weight:400;\">, Expo Centre Sharjah. <\/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>7-9 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aimcongress.com\/\" style=\"\">AIM Congress<\/a><\/span><span style=\"font-weight:400;\"> 2024, 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;\">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>8-12 May (Wednesday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.tradearabia.com\/news\/TTN_419864.html\" style=\"\">Schmetterling Annual Conference<\/a><\/span><span style=\"font-weight:400;\">, Al Ain and 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;\">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>14-16 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.theairportshow.com\/\" style=\"\">The Airport Show<\/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>15 May (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.difc.ae\/whats-on\/news\/difcs-preferred-position-for-hedge-fund-ecosystem-develops-through-exclusive-hfm-partnership\" style=\"\">HFM Summit<\/a><\/span><span style=\"font-weight:400;\">, DIFC. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18-26 May (Saturday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.livenation.me\/auh-comedy-week\" style=\"\">Abu Dhabi Comedy Week<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19 May (Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/investopia.ae\/events\/investopia-europe\/\" style=\"\">Investopia Europe<\/a><\/span><span style=\"font-weight:400;\">, Milan.<\/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 May (Sunday): RTA\u2019s Deadline for bids to design and build Dubai Metro's Blue Line.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>24-25 May (Friday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/thebabyexpo.com\/\" style=\"\">Baby Expo<\/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: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:400;\">27-28 November (Wednesday-Thursday): RAK Energy Summit, Al Hamra International Exhibition and Conference Centre, Ras Al Khaimah.<\/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>9-10 December (Saturday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/b.tc\/conference\/mena\" style=\"\">The Bitcoin Mena Conference<\/a><\/span><span style=\"font-weight:400;\">, Adnec Centre 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;\">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>MBC acquires stake in Anghami | CBUAE greenlights Network International acquisition | Barakah is now online<\/p>\n","protected":false},"featured_media":90383,"menu_order":0,"template":"","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-90382","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"53236d3c-4e88-48d1-b61d-ee4e8e654999","teaser":"MBC acquires stake in Anghami | CBUAE greenlights Network International acquisition | Barakah is now online","photo_url":"https:\/\/ent.news\/2024\/2\/1201.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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