{"id":90525,"date":"2024-03-28T00:00:00","date_gmt":"2024-03-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=90525"},"modified":"2025-12-14T23:54:32","modified_gmt":"2025-12-14T23:54:32","slug":"govt-mulls-introducing-golden-and-silver-licenses-for-businesses","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/govt-mulls-introducing-golden-and-silver-licenses-for-businesses\/","title":{"rendered":"Gov\u2019t mulls introducing golden and silver licenses for businesses"},"content":{"rendered":"<section id=\"90527\" 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=\"90527\">\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\/28\/golden-licenses-for-business\/\">\r\n                            THIS MORNING: Golden licenses for business? + More b\u2019naires in the UAE and Dubai in 2024                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/golden-licenses-for-business\/\" target=\"_blank\">\n                   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href=\"https:\/\/x.com\/intent\/post?text=Golden licenses for business?&url=https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/golden-licenses-for-business\/\">\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\/28\/golden-licenses-for-business\/&title=Golden licenses for business?\">\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=Golden+licenses+for+business%3F+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F03%2F28%2Fgolden-licenses-for-business%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\/28\/golden-licenses-for-business\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/698.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90528\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/golden-licenses-for-business\/698-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/698.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"698.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/698.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/698.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90527\" class=\"content-area-description single-story post-90527 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-adq tag-cbuae tag-education tag-enterpriseam-uae tag-ma-watch tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.e7c3ad9e-ee4a-421a-965e-42d088816ca0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends. <\/strong>We\u2019re nearing the end of what felt like a particularly long week \u2014 but we\u2019re grateful the news cycle has let up a bit. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s another M&amp;A-heavy day<\/strong>, with an otherwise mixed bag of news spanning <strong>debt<\/strong>, <strong>energy<\/strong>, and <strong>logistics<\/strong>. <strong>The biggest stories to keep an eye out for<\/strong> are <strong>Ras Al Khaimah government<\/strong>\u2019s move to <strong>up its stake in RAK Properties<\/strong>, an <strong>AED 865 mn syndicated loan for an Al Seer Marine JV,<\/strong> and the <strong>completion of <\/strong><strong>Abu Dhabi National Hotels<\/strong><strong>\u2019 buyout<\/strong><strong> of Compass Group\u2019s stake in their JV<\/strong>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We also have part two of our sit-down with our friends at Mashreq\u2019s Fernando Morillo <\/strong>\u2014 a must-read for fellow banking and AI nerds.<\/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 6:37pm in Dubai and 6:40pm in Abu Dhabi, and you have until 5am to hydrate and caffeinate ahead of Fajr in Abu Dhabi, and until 4:56am in Dubai.<\/p>\n<p class=\"tag-border-left\"> PUBLIC SERVICE ANNOUNCEMENTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- WEATHER- Expect another sunny, windy day in Dubai<\/strong>, with the mercury hitting 28\u00b0C before falling to an overnight low of 18\u00b0C. In Abu Dhabi, similar conditions will see a daytime high of 27\u00b0C and an overnight low of 21\u00b0C. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong><strong>Employers subject to the pension law must register their Emirati employees within 30<\/strong><strong> days of their employment<\/strong> and report service charges to the General Pension &amp; Social Security Authority (GPSSA), the authority said in a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/government-news\/gpssa-insured-emiratis-must-be-registered-within-30-days-from-the-date-of-their-employment-iccxt7c8\" style=\"\" rel=\"noopener\">statement<\/a>. Employers must notify the GPSSA within 15 days when Emirati employees leave, or face penalties of AED 200 per day of delay. Delays in salary payments are subject to penalties of AED 100 per day, while non-payment incurs a 10% extra charge.<\/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\"> <a id=\"wwtt1\"><\/a> <strong>#1-<\/strong><strong>Is the government mulling the introduction of golden licenses for businesses?<font face=\"Arial\">&nbsp;<\/font><\/strong>The UAE\u2019s Economic Integration Committee has reportedly discussed a proposal to introduce 10-year golden licenses and five-year silver licenses for businesses at a meeting yesterday, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/business\/economy\/uae-mulls-10-year-golden-business-licences-1.1711549579744\" style=\"\" rel=\"noopener\">Gulf News<\/a> reports, without providing further details. The licenses would come in a bid to boost government revenues and stimulate business activity, the outlet said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>#2- Abu Dhabi wealth fund ADQ is considering a bid for <\/strong><strong>Pola<\/strong><strong>nd\u2019s largest poultry <\/strong><strong>and <\/strong><strong>meat producer, Cedrob Group<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-27\/abu-dhabi-s-adq-said-to-eye-bid-for-polish-poultry-firm-cedrob\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing people familiar with the matter. Initial bids for the company are expected in April, with Cedrob appealing to ADQ as a means to ramp up food security in the Gulf, the sources added. The size of the sale was not disclosed, but Bloomberg <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/terminal\/S1LJPPDWRGG0\" style=\"\" rel=\"noopener\">previously reported<\/a> that the Polish company was weighing a sale that would value it at near USD 2 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not the first time ADQ invests in food security: <\/strong>Since covid-19, ADQ has doubled down on its efforts to secure food supplies. In 2020, the wealth fund snagged a 45% stake in European agricultural trader <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d3b1b571-d927-4315-9f1d-921f9353689b\" style=\"\" rel=\"noopener\">Louis Dreyfus<\/a> for an undisclosed amount, and poured USD 1 bn into Middle Eastern hypermarket chain giant <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/article\/idUSKBN2740P4\/\" style=\"\" rel=\"noopener\">LuLu Group<\/a> to help fund its expansion in Egypt. <\/p>\n<p class=\"tag-border-left\"> DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a><strong>#1-<\/strong><strong>The UAE has 24 b\u2019naires, putting it 22nd on the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.hurun.net\/en-US\/Info\/Detail?num=K851WM942LBU\" style=\"\" rel=\"noopener\">Hurun Global Rich List 2024<\/a><\/strong>, which measures the number of USD b\u2019naires around the world. The UAE\u2019s ranking dropped y-o-y despite four new b\u2019naires being added to the country\u2019s tally. Dubai came in 28th place on a city level \u2014 also down from last year\u2019s ranking \u2014 with 21 b\u2019naires living in the city, two more than the previous year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong><strong>The USD 1 bn Mother\u2019s Endowment Fund has raised AED 770 mn since its launch <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/de957552-8c44-49b7-9725-3c4d1ee63e26\/infini-capital-to-manage-adgm-asian-hedge-fund#:~:text=Dubai%20launches%20AED,their%20mothers%E2%80%99%20names.\" style=\"\" rel=\"noopener\">two<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/de957552-8c44-49b7-9725-3c4d1ee63e26\/infini-capital-to-manage-adgm-asian-hedge-fund#:~:text=Dubai%20launches%20AED,their%20mothers%E2%80%99%20names.\" style=\"\" rel=\"noopener\">weeks ago<\/a>&nbsp;<\/strong>to improve education worldwide, <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/uae\/2024\/03\/26\/uae-education-fund-raises-dh770-million-in-first-two-weeks\/\" style=\"\" rel=\"noopener\">The National<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai-based real estate developer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/azizidevelopments.com\/\" style=\"\" rel=\"noopener\">Azizi Developments<\/a><\/strong><strong> donated AED 600 mn yesterday to the initiative<\/strong> to fund the establishment of an educational complex in Dubai, marking \u201cone of the largest ever charitable donations in the UAE,\u201d Dubai Crown Prince Hamdan bin Mohammed <a target=\"_blank\" href=\"https:\/\/twitter.com\/HamdanMohammed\/status\/1772896701352644968\" style=\"\" rel=\"noopener\">said on X<\/a>.<\/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>The Sharjah Commerce and Tourism Development Authority will be on the agenda <\/strong><strong>for the Sharjah Consultative Council (SCC) when it meets today<\/strong>, Wam reports. The SCC will discuss unspecified recommendations related to the authority based on an SCC report. <\/p>\n<p class=\"tag-border-left\">HAPPENING NEXT WEEK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- CBUAE to hold AED 29 bn m-bill auction: <\/strong>The Central Bank of the UAE (CBUAE) will auction four m-bills worth up to AED 29 bn next Monday, 1 April, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2475.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. One of the m-bills is a tap issuance, and the four have tenors ranging from 28 to 336 days.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Decoding central bank speak: <\/strong>M-bills are short-term securities issued in AED by the CBUAE at no interest. The bonds typically have maturity dates of one to 12 months and are not retrievable through any other listing. A tap issuance allows the CBUAE to more finely control money supply by allowing it the flexibility to continue selling bills past the initial auction date.<\/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\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s no single story capturing the imagination of the global press <\/strong>this morning, but watchers of the green economy will want to pay attention here: <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Janet Yellen is stirring the pot with China, warning Beijing against dumping key <\/strong><strong>components of the global green economy <\/strong>on other markets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yellen claims China is dumping excess production of solar panels, EVs, and lithium ion <\/strong><strong>batteries <\/strong>on other countries. She said the practice \u201cdistorts global prices and production patterns and hurts American firms and workers, as well as firms and workers around the world.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why the fuss? <\/strong>Western economies are scrambling to catch up to China on clean-tech manufacturing. They see it as critical to energy security, to the green transition, and to bringing manufacturing jobs back to the west. The US is offering tax breaks and subsidies to everyone from green hydrogen producers (hello, Inflation Reduction Act) to key component makers, sparking competition with Canada and the European Union. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why now? <\/strong>Yellen was speaking on the eve of her second trip to Beijing as US treasury secretary. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Read more: <\/strong>Head to our website for links to stories from the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6d52ed0d-4d4e-4540-8950-4c0c5a789992\" style=\"\" rel=\"noopener\">Financial Times<\/a> and <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/03\/27\/yellen-china-solar-ev-surplus-global-markets.html\" style=\"\" rel=\"noopener\">CNBC<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ON A RELATED NOTE- <\/strong>EV and business nerds alike (Elon stans, not so much) will enjoy this morning\u2019s analysis from the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/autos\/byds-rise-challenges-teslaand-its-valuation-b9de43eb?mod=finance_feat1_hots_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>, which writes that Chinese EV maker \u201cBYD\u2019s rise challenges Tesla \u2014 and its valuation. The companies are increasingly close peers while being valued completely differently.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tesla is worth about 7x more<\/strong>, and \u201cit takes a lot of faith in Tesla Chief Executive Elon Musk\u2019s promise of autonomy to rationalize the difference,\u201d the Journal suggests.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/cbuae\/\">CBUAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/education\/\">Education<\/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\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"90529\" 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=\"90529\">\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\/28\/ras-al-khaimah-government-is-now-rak-properties-biggest-shareholder\/\">\r\n                            Ras Al Khaimah government is now RAK Properties\u2019 biggest shareholder                        <\/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\/28\/ras-al-khaimah-government-is-now-rak-properties-biggest-shareholder\/\" 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\/28\/ras-al-khaimah-government-is-now-rak-properties-biggest-shareholder\/')\">\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\/28\/ras-al-khaimah-government-is-now-rak-properties-biggest-shareholder\/\">\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=Ras Al Khaimah government is now RAK Properties\u2019 biggest shareholder&url=https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/ras-al-khaimah-government-is-now-rak-properties-biggest-shareholder\/\">\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\/28\/ras-al-khaimah-government-is-now-rak-properties-biggest-shareholder\/&title=Ras Al Khaimah government is now RAK Properties\u2019 biggest shareholder\">\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=Ras+Al+Khaimah+government+is+now+RAK+Properties%E2%80%99+biggest+shareholder+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F03%2F28%2Fras-al-khaimah-government-is-now-rak-properties-biggest-shareholder%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\/28\/ras-al-khaimah-government-is-now-rak-properties-biggest-shareholder\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2477.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90530\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/ras-al-khaimah-government-is-now-rak-properties-biggest-shareholder\/2477-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2477.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2477.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2477.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2477.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90529\" class=\"content-area-description single-story post-90529 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-enterpriseam-uae tag-invictus tag-ma-watch tag-rak-properties tag-ras-al-khaimah tag-real-estate tag-waha-capital 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\/.b61918b5-44d5-4d76-8faf-da1f9a228ec7.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Ras Al Khaimah government has upped its stake in RAK Properties to 34%<\/strong>, up from 5% previously, through a capital increase, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2470.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. The government became the developer\u2019s single biggest shareholder after RAK Properties\u2019 general assembly greenlit a capital increase that would issue 920 mn new shares, pending the approval of the Securities and Commodities Authority.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other shareholders: <\/strong>Al Saqr United Group owns an 8.94% stake in the company, while the remaining shares are in freefloat, according to its <a target=\"_blank\" href=\"https:\/\/www.rakproperties.ae\/investor-relation\/major-shareholders\/\" style=\"\" rel=\"noopener\">website<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- RAK Properties approved a dividend payout of AED 60 mn for 2023<\/strong>, equating to 3 fils per share. Shareholders also get 4% bonus shares, valued at AED 80 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">OTHER M&A NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Waha Capital calls off Peninsula warehouse sale:<\/strong> ADX-listed investment management company <a target=\"_blank\" href=\"https:\/\/www.wahacapital.com\/\" style=\"\" rel=\"noopener\">Waha Capital<\/a> has terminated the sale of 17 warehouses between the firm\u2019s subsidiary Waha Land and Abu Dhabi-based property investment firm <a target=\"_blank\" href=\"https:\/\/www.peninsula-reh.com\/\" style=\"\" rel=\"noopener\">Peninsula Real Estate Management<\/a>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2469.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. The company did not provide details on the reasons behind the termination. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>In <a target=\"_blank\" href=\"https:\/\/www.peninsula-reh.com\/press-release\/waha-capital-agrees-sale-of-leased-warehouse-assets-in-almarkaz-industrial-development-to-peninsula\/\" style=\"\" rel=\"noopener\">August 2022<\/a>, Waha Capital agreed to sell Peninsula 17 leased warehouses at Al Markaz Industrial Development for AED 555 mn in an all-cash transaction. The agreement also included the sale of 136k sqm of completed industrial properties that Waha Land was developing at the time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Invictus greenlights offer for Graderco stake:<\/strong> The board of Ghitha\u2019s trading arm, Invictus Investment, signed off on presenting a binding offer to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/1e9c1f9c-7161-4ee3-9c3b-261ef26184ff\" style=\"\" rel=\"noopener\">acquire a stake<\/a> of up to 60% of Zalar Holding\u2019s stake in Moroccan agriculture trader Graderco, along with all its subsidiaries, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2488.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. Invictus had first announced plans to acquire the company in February as part of its push into North and East Africa.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/invictus\/\">Invictus<\/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\/rak-properties\/\">RAK Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ras-al-khaimah\/\">Ras Al Khaimah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/waha-capital\/\">Waha Capital<\/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=\"90531\" 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=\"90531\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/adib-extends-aed-865-mn-syndicated-loan-to-al-seer-marine-and-bgn\/\">\r\n                            ADIB extends AED 865 mn syndicated loan to Al Seer Marine and BGN                        <\/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\/28\/adib-extends-aed-865-mn-syndicated-loan-to-al-seer-marine-and-bgn\/\" 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 financing marks the second tranche of a USD 370 mn syndicated loan to finance three very large gas carriers (VLGCs) in South Korea and Japan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> Two of the vessels are set to be delivered in 2025, and the third in 2026, according to the statement. These ships will feature dual-fuel LPG engines, advancing towards zero-carbon propulsion.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> ADIB led the agreement, supported by specialized mandated arrangers including Abu Dhabi Commercial Bank, National Bank of Fujairah, Commercial Bank of Dubai, and Saudi Arabia\u2019s Islamic Corporation for the Development of the Private Sector. Global law firms Denton served as the Syndicate\u2019s Legal Council, and Holman Fenwick Willan served as legal counsel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Al Seer Marine received a VLGC named North Gas with 84.3k cubic meters capacity from Hyundai Heavy Industries back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/17a7fcbe-395a-48f5-a7b6-c9675cbdefbe\/another-saudi-airport-to-get-a-revamp-%2B-sczone-eyes-more-green-energy-cooperation,-and-al-seer-marine-gets-new-vlgc\" style=\"\" rel=\"noopener\">October 2023<\/a>, marking the second VLGC delivery under the AED 459 mn agreement by ABGC. The first VLGC, Lucky Gas, was delivered in June. Al Seer Marine's fleet now totals 20 ships.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-commercial-bank\/\">Abu Dhabi Commercial Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-islamic-bank\/\">Abu Dhabi Islamic Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/al-seer-marine\/\">Al Seer Marine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/bgn\/\">BGN<\/a>\n                <!-- <span 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href=\"https:\/\/enterpriseam.com\/uae\/tag\/national-bank-of-fujairah\/\">National Bank of Fujairah<\/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=\"90533 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=\"90533\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/90533-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90533\" class=\"content-area-description single-story post-90533 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\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=\"90534\" 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=\"90534\">\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\">COFFEE WITH\u2026<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/for-our-fellow-banking-and-ai-nerds-part-ii\/\">\r\n                            Part two of Coffee with: Fernando Morillo, Global Head of Retail Banking at Mashreq                        <\/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\/28\/for-our-fellow-banking-and-ai-nerds-part-ii\/\" target=\"_blank\">\n            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data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/for-our-fellow-banking-and-ai-nerds-part-ii\/2211-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2211.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2211.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2211.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2211.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90534\" class=\"content-area-description single-story post-90534 post type-post status-publish format-standard has-post-thumbnail hentry category-coffee-with tag-ai tag-banking tag-coffee-with-2 tag-enterpriseam-uae tag-fintech tag-mashreq 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\/.489e0182-c14a-472c-b01c-87e90441098f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>What does the future of banking look like, and will we still need physical branches five or<\/strong><strong> 20 years from now? Will there be room for relationship managers? <\/strong>In part two of our interview with <strong>Fernando Morillo<\/strong> (<a target=\"_blank\" href=\"https:\/\/ae.linkedin.com\/in\/fernandomorillolopez\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), the group head of retail banking at Mashreq, he dives into these questions and more \u2014 including where he sees open finance and AI playing a role in managing bank-client relationships, and the bank\u2019s strategy for its different markets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A quick refresher about Fernando: <\/strong>He has been with Mashreq for nearly three years, and is in charge of everything from the retail experience through digital propositions Mashreq Neo and NEOBiz. A tech nerd at heart, Fernando\u2019s thoughts on what he viewed as a \u201cboring\u201d industry \u2014 banking \u2014 completely changed when the internet came along. Before working at Mashreq, he had a run at McKinsey &amp; Co, where he was focused on banking, ins., retail, and digital across Europe, the Middle East, Africa, and the United States. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>If you haven\u2019t read <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/24760c59-5df3-47f4-a51a-31982ccb899f\/for-our-fellow-banking-and-ai-nerds\" style=\"\" rel=\"noopener\">part one<\/a><\/strong><strong> of our interview<\/strong>, he discusses everything from how AI will impact jobs in the banking industry to the transformation of chatbots and the embeddedness of software into everything a bank does.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We spoke over the course of multiple days in Cairo and Dubai.<\/strong> Edited excerpts of our conversation follow. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KEY TAKEAWAYS from part 2: <\/strong><\/p>\n<ul>\n<li><strong>Banks have one big edge over fintechs: Scale.<\/strong> He\u2019s not losing sleep over fintech startups, saying some may hit escape velocity, but others will run into the wall \u2014 and others, still, will become service providers to larger institutions.<\/li>\n<li><strong>Where will you speak with a human? Go to a branch?<\/strong> When the regulator or the complexity of a transaction demands it. When you want to (if you're HNW). Or if you\u2019re a corporate client with a complex transaction.<\/li>\n<li><strong>Open finance has the potential to transform bank-client relationships<\/strong>, giving clients a more comprehensive insight into their finances and banks the knowledge they need to provide better advice and become more embedded in clients\u2019 decisions.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Where does the competition between established banks and non-bank financial institutions shake out? There\u2019s an extent to which our region \u2014 the GCC in particular \u2014 is overbanked. And with the end of the era of free money, it seems there could be an opportunity for people with larger balance sheets, deeper pockets, longer-term views, maybe less shareholder pressure to make a play.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FM:<\/strong> Yes, and all of that comes as we have these disruptive technologies starting to make a difference in the industry. I think there\u2019s an opportunity for disruption across industries, not only banking. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In banking and finance, we operate in regulated markets. That\u2019s certainly going to have an impact on how much change or consolidation will take place. But incumbents will face a lot of disruption unless they adapt, change their behavior, and operate with the nimbleness of software houses. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">What clients want from you is effectively software solutions applied to personal finance and their interactions with digital ecosystems. If you are not the supplier of those solutions, it will be increasingly difficult for you to be competitive, and that will trigger consolidation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: So will we see incumbents replaced by new market entrants? <br \/><\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FM:<\/strong> Frankly, I don\u2019t think it will be a massive disruption \u2014 there\u2019s enough space for everyone. There are incumbents who will survive \u2014 the ones who adapt, who understand their clients, and serve them digitally. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">And not all of the new entrants \u2014 the fintech players and neobanks \u2014 will thrive. <strong>There\u2019s a bit too much hype about fintech players right now, if you ask me. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The reality is that only a handful of fintech players will reach a critical threshold with a sufficiently differentiated product.<\/strong> There is a lot of space in the middle for fintechs that can provide banks with services and solutions that banks are not naturally positioned to build. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\">Mashreq recognizes the critical role fintechs play in reshaping the financial landscape and we\u2019re committed to collaborating with these entities to bring cutting-edge solutions to our customers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: So the future for fintechs is to become service providers to banks? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FM:<font face=\"Arial\">&nbsp;<\/font><\/strong><strong>As software houses, fintechs have a ruthless focus on solving a client\u2019s single, specific problem. Banks, on the other hand, offer specific solutions to a very broad array of problems.<\/strong> So it's very difficult to have the perfect solution for each of our problems in the way we service our clients, and that\u2019s where working with fintechs can be very helpful. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It's not a binary situation. We'll see some banks thriving, others having to be integrated into larger institutions.<\/strong> We'll see some fintechs that will go straight to clients and become direct competitors of banks. And we\u2019ll see some fintechs that will be fantastic providers of solutions to banks and to other fintechs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And, of course, we\u2019ll see many fintechs that will not make the cut.<\/strong> Think about it: At the beginning of the 20th century, there were several hundred automobile producers in the United States. How many are there today? Eight? Ten?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And in the meantime, there is so much banks can learn from how nimble fintech players are.<\/strong> At Mashreq we have units that work across functions in an agile way. Scrum masters in a bank\u2026 .Who\u2019d have thought that was possible a few years ago? <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: How can banks know enough about the totality of your finances to make good recommendations in an AI world?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FM: That\u2019s where open finance comes in<\/strong> \u2014 an emerging set of standards that will allow you to get an integrated view of your financial position regardless of where you are or what you\u2019re doing. You can see how much money you have, how much money you owe, how much money you should save in order to manage your life financially. That's how banks will become part of your life in use cases that transcend the product, and actually tell you whether it is financially sound for you to make that transaction or not. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And that\u2019s the direction of travel. Big data is already there. AI is getting there. And now, open finance is being established in many countries <\/strong>\u2014 it\u2019s a data structure and series of pipes that will allow people to share their financial data from one institution to another. I\u2019m very excited about the new use cases that it will make possible. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Think about how easy it will make going shopping for a loan, for example, if you can get data on five different banks and see their tailored offers, all in a single portal. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What is the role of the physical branch in this world? Will there be branches 5 years from now? 20? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FM: Branches are the apotheosis of the universal banking approach<\/strong>, where all segments go and interact with their finances \u2014 a one-stop physical shop that\u2019s still a big part of the banking system worldwide. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re moving in the other direction at Mashreq<\/strong> \u2014 in the UAE, we\u2019ve cut our branch network by 85%. It\u2019s been a deliberate move driven by client demand. People don\u2019t want to go to a physical place and wait in line to do something they can do online. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">For instance, Mashreq NEO in the UAE is a true reflection of this approach \u2014 a full-service, branchless bank proposition that provides best-in-class customer experience. Mashreq NEO was the first in the UAE to provide access to international markets for investments, including foreign equities, gold trading and foreign currency accounts. It is the largest digital proposition in the region that offers a full suite of banking products, both transactional and discretionary services and investment products.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But I think we\u2019ll still see a need for physical branches in a handful of types of situations<\/strong>. <strong>The first involves complexity<\/strong>, where it is too difficult for a client to sort out a solution by themselves. <strong>The second is regulatory<\/strong> \u2014 some things still need to be done in person. And the third is more high-value interactions in which what I call \u2018the tail of complexity\u2019 requires an interaction with a human. This often cannot be a video call or a phone call but a conversation that has to take place across several interactions with data and an exchange of ideas. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Even as AI becomes more able to read human intent and emotion \u2014 and it\u2019s getting there \u2014 <strong>other situations will simply be better managed face-to-face by a human<\/strong>, who understands the needs of the person sitting across from them at a human level. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">At Mashreq we are expanding our touch points (exploring newer channels) across the UAE offering more enhanced services to our customers. And branches will continue to play an important role, albeit a different one.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">We see the branches evolving to serve the changing needs of customers, specifically those who require deeper personal engagement and advisory services such as purchasing a home, financing a business or discussing legacy decisions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: How often will I speak with my relationship manager in the future?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FM: Part of the answer depends on whether you\u2019re a small or large business, whether you\u2019re a private banking client or other.<\/strong> More and more, you\u2019re going to get good access to data and sound advice over your device. And you\u2019re going to be able to click in the app to bring your RM into the conversation through chat or video in the digital space. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">And then <strong>if it\u2019s more complex, perhaps you\u2019ll want to see the RM in an office, or the RM will come to you. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Think of it this way: If it\u2019s tweaking your portfolio, you\u2019ll probably do that 90% or more of the time in the app. Maybe you\u2019ll tap to call in your RM if you have an additional question, but the AI will be great at portfolio construction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Where you\u2019ll want a face-to-face interaction isn\u2019t when you\u2019re gently rebalancing a portfolio, but when you feel that you need to completely burn it down and start from scratch because you worry you may have gotten the allocation completely wrong. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What about at the corporate banking end of the scale? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">FM: Corporate or wholesale is really outside of my purview, but <strong>I would expect you\u2019ll see AI tools being used by bank relationship managers, risk teams, and the like<\/strong> to ensure they better serve their corporate clients. But robo-advisors for large corporates really don\u2019t seem to be in the pipeline now. Mashreq made substantial progress with the introduction of new digital platforms in its investment banking sector, contributing to enhanced operational efficiency and client servicing. It\u2019s additive.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: How does your strategy on digitization differ in, say, Egypt or Pakistan versus the UAE? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FM: They\u2019re really different propositions, even if they\u2019re all moving in the same direction. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In Egypt or Pakistan, it\u2019s about digitizing the country\u2019s financial system and driving financial inclusion at large <\/strong>\u2014 bringing more people and SMEs into the system is what\u2019s going to move the needle for the industry and for society. It\u2019s not the time yet to come up with advanced, super-niche products.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In a developed economy like the UAE, the foundations for digital are already in place. So the next big thing is digitizing wealth management<\/strong> and providing clients with more advanced products and services that give them the tools they need to manage their finances in the long run. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And in the case of SMEs in the UAE, it's more about digitization of loans and bringing down the cost of lending.<\/strong> And that will roll out to less-developed economies as they mature. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What\u2019s driving growth for you folks? Your full-year results were fantastic. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FM: In the case of the UAE, the country has had a phenomenal few years. <\/strong>We\u2019ve benefitted from great management of Covid, the recovery in oil prices, and from the simple fact that the UAE is a great place to live. That\u2019s made it a global hub for business and sparked a property boom. And as a bank, we are growing with that \u2014 it\u2019s not just us at Mashreq but the sector as a whole. And, of course, the interest rate environment is great for banks because it provides a tailwind. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In parallel, the bank has a truly entrepreneurial culture, so we\u2019ve really gone for growth \u2014 growing our assets, our liabilities, our services. And as we\u2019ve done so, our risk management approach has been just right. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Our culture of innovation and obsession with client experiences and digital have allowed us to outperform the market. It's this obsession with coming up with something cool and good for the market that creates the numbers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">And let\u2019s not forget our greatest asset \u2014 our people, who are instrumental in our ability to deliver a superb customer experience and develop award-winning products and services.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: And in Egypt?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FM:<\/strong> Our operation is much smaller in retail in Egypt. For the most part, we are a corporate bank there, but we see huge potential for growth in the mass market. I think we can play a fantastic role in driving financial inclusion, which is going to be a massive catalyst of growth in the country in the long term. With 110 mn people, the opportunity is immense. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We want to be the ones who gave the middle-aged entrepreneurs of tomorrow their first accounts, their first credit cards, their first loans.<\/strong> We want to look back in 10 years\u2019 time and say we did our bit on that front. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What\u2019s the biggest surprise more than two years into your time with Mashreq?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FM: The quality of the people<\/strong> \u2014 Mashreq has always been known as a business that can choose and develop great talent, but now that I\u2019ve been here, it\u2019s amazing to see how deep that runs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">And maybe we\u2019ve been a bit too successful on that front [laughs]. Because what happens is that people come here, develop as professionals, and then <strong>others in the market start poaching talent\u2026<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">I think the other big thing \u2014 on the personal front \u2014 has been re-learning that everything is possible and can be done in a very agile way without compromising on risks. Coming from very large institutions, this gets beaten out of you, and Mashreq is amazing: It has no fear of trying new things, and it balances that off with a very careful approach to risk management. You can see that in our non-performing loan ratio, which is less than half the industry average. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Mashreq is careful about risk, but it leaves the door open to try new things and new technologies in business. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Your limits in business are internal \u2014 they\u2019re in you. It\u2019s all about your attitude toward what\u2019s possible, and that\u2019s something I\u2019ve rediscovered at Mashreq. This amazing entrepreneurial culture where you are in a meeting and someone says something that sounds ridiculous, but then you figure out how to make it real. This comes from the top, this culture of \u201cyou need to try anything that provides an amazing client experience, even if it sounds crazy \u2014 just look for ways to minimize risk as you do\u201d.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Here, we\u2019re asked to dream and come up with things that challenge the status quo. It\u2019s very refreshing, and it\u2019s something I have had to relearn since coming here. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/coffee-with-2\/\">COFFEE WITH\u2026<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fintech\/\">fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mashreq\/\">Mashreq<\/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=\"90536\" 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=\"90536\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/abu-dhabi-national-hotels-now-fully-owns-its-jv-with-compass-group\/\">\r\n                            Abu Dhabi National Hotels now fully owns its JV with Compass Group                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/abu-dhabi-national-hotels-now-fully-owns-its-jv-with-compass-group\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The value of the transaction \u2014 which will see ADNH acquire Compass\u2019 entire 50% stake in the company \u2014 was not disclosed in the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>ADNH and Compass Group had reached an agreement for the takeover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0a538a1e-fb1c-44f8-b320-fca86cb2317d\/Abu%20Dhabi%20National%20Hotels%20is%20taking%20over%20its%20JV%20with%20Compass%20Group\" style=\"\" rel=\"noopener\">earlier this month<\/a>. The acquisition \u201cis part of ADNH\u2019s strategic plan to boost its revenues\u201d and income margins from key business segments,\u201d the company said at the time. The transaction is expected to help ADNH reel in an additional AED 100 mn in annual net income.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>ADNH established a JV in 2008 with Compass Group and is now \u201crated as the biggest provider of food and manpower services to corporates and organizations,\u201d according to <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/business\/markets\/abu-dhabi-national-hotels-eyes-dh100m-net-profit-gain-after-buying-out-compass-group-stake-1.1709877102258\" style=\"\" rel=\"noopener\">Gulf News<\/a>. The JV now offers its services, which include retail and vending, cleaning and housekeeping, pest control, and integrated facilities management, to clients ranging from schools and universities, to defense and correctional players, and the healthcare industry.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-national-hotels-company\/\">Abu Dhabi National Hotels Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/compass-group\/\">Compass Group<\/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=\"90538\" 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=\"90538\">\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\">LOGISTICS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/dp-world-to-build-new-grain-and-fertilizer-terminal-at-brazils-santos-port-boost-global-handling-capacity-by-years-end\/\">\r\n                            DP World to build new grain and fertilizer terminal at Brazil\u2019s Santos Port + boost global handling capacity by year\u2019s end                        <\/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\/28\/dp-world-to-build-new-grain-and-fertilizer-terminal-at-brazils-santos-port-boost-global-handling-capacity-by-years-end\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li 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href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/dp-world-to-build-new-grain-and-fertilizer-terminal-at-brazils-santos-port-boost-global-handling-capacity-by-years-end\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2386.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90539\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/dp-world-to-build-new-grain-and-fertilizer-terminal-at-brazils-santos-port-boost-global-handling-capacity-by-years-end\/2386-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2386.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2386.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2386.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2386.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90538\" class=\"content-area-description single-story post-90538 post type-post status-publish format-standard has-post-thumbnail hentry category-logistics tag-dp-world tag-enterpriseam-uae tag-infrastructure tag-logistics tag-transport 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\/.9e8a978f-5785-4f9c-aed3-9e95f89536ca.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> DP World to establish new terminal at Port Santos:<\/strong> Emirati port operator DP World has inked a 30-year agreement with Brazil\u2019s leading railway operator <a target=\"_blank\" href=\"https:\/\/rumolog.com\/\" style=\"\" rel=\"noopener\">Rumo<\/a> to establish a new terminal for grains and fertilizers at Port Santos, according to a <a target=\"_blank\" href=\"https:\/\/www.dpworld.com\/en\/brazil\/news\/latest-news\/rumo-e-dp-world-anunciam-acordo-para-construcao-de-novo-terminal-de-graos\" style=\"\" rel=\"noopener\">statement<\/a>. The agreement will boost the port\u2019s handling capacity by some 12.5 mn tons per year \u2014 including 9 mn tons of grains and 3.5 mn tons of fertilizer. Rumo will pour USD 500 mn of investment into the project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The new terminal will be developed in DP World\u2019s private-use terminal on Santos\u2019 left bank, the statement said. The agreement's initial operating period is for 30 years, with an option to extend subject to DP World\u2019s approval. DP World will overlook port operations, including cargo movement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The timeline:<\/strong> Construction is expected to take some 30 months, upon fulfillment of precedent conditions such as government approvals, the statement also said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> DP World invested some USD 50 mn as part of a larger USD 85 mn terminal expansion project to boost its container operations at the port, acquiring 21 new port assets to increase capacity to some 1.7 mn TEU, according to a separate <a target=\"_blank\" href=\"https:\/\/www.dpworld.com\/en\/brazil\/news\/latest-news\/dp-world-anuncia-novo-investimento-de-250-milhoes\" style=\"\" rel=\"noopener\">statement<\/a> released last week.<\/p>\n<p class=\"tag-border-left\">IN OTHER DP WORLD NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The port operator plans to boost its container handling capacity globally by around <\/strong><strong>7.6 mn twenty-foot equivalent units (TEU) to 102.6 mn TEUs by the end of 2024<\/strong>, from 95 mn TEUs the year prior, <a target=\"_blank\" href=\"https:\/\/www.emaratalyoum.com\/business\/local\/2024-03-27-1.1838779#:~:text=%D9%83%D8%B4%D9%81%D8%AA%20%D9%88%D8%AB%D9%8A%D9%82%D8%A9%20%D8%A3%D9%86%20%D9%85%D8%AC%D9%85%D9%88%D8%B9%D8%A9%20%D9%85%D9%88%D8%A7%D9%86%D8%A6,%D8%A3%D9%88%20%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA%D9%87%D8%A7%20%D9%81%D9%8A%20%D8%A3%D8%B3%D9%87%D9%85%20%D8%A7%D9%84%D9%85%D9%84%D9%83%D9%8A%D8%A9.\" style=\"\" rel=\"noopener\">Emirates Today<\/a> reports, citing a DP World document. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TEUs? <\/strong>A TEU is a standard measurement in the shipping and terminal industry and is based on the dimensions of a common twenty-foot shipping container. The acronym stands for Twenty-foot Equivalent Unit. A double-length container, for example, would count as two TEUs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> The firm will add around 1 mn TEUs to its Jeddah market, around 900k TEU to its London Gateway, and 400k TEUs each to South Korea\u2019s Busan Port and India\u2019s Cochin Port. A further 3 mn containers will be added to its Chinese facilities, 400k containers to its Belgium market, 300k containers each to Egypt's Sokhna Port and Tanazania\u2019s Dar el Salaam Port, and 200k containers each to Canada\u2019s Vancouver ports and Peru\u2019s Callao Port. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dp-world\/\">DP World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/transport\/\">transport<\/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=\"90540\" 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=\"90540\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/umm-al-qaiwain-ruler-taps-special-advisor-investcorp-capital-appoints-new-cfo\/\">\r\n                            Umm Al Qaiwain Ruler taps special advisor + Investcorp Capital appoints new CFO                        <\/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\/28\/umm-al-qaiwain-ruler-taps-special-advisor-investcorp-capital-appoints-new-cfo\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2492.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90541\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/umm-al-qaiwain-ruler-taps-special-advisor-investcorp-capital-appoints-new-cfo\/2492-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2492.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2492.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2492.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2492.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90540\" class=\"content-area-description single-story post-90540 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-uae tag-investcorp-capital tag-moves tag-umm-al-quwain 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\/.90237c1d-51d6-40a7-9200-fcb7404e92ea.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Umm Al Qaiwain Ruler Sheikh Saud bin Rashid Al Mu\u2019alla <\/strong>appointed<strong>Sheikh <\/strong><strong>Ahmed bin Nasser bin Ahmed Al Mu\u2019alla<\/strong> as his<strong> special advisor<\/strong>, with the rank of head of a department, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b2c712o-saud-bin-rashid-mualla-appoints-special-advisor\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investcorp Capital<\/strong> has appointed <strong>Rohit Nanda<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/rohit-nanda-0922425\/?originalSubdomain=bh\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as its <strong>chief financial <\/strong><strong>officer<\/strong>, effective from 2 April, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2494.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. Nanda previously served as Investcorp\u2019s head of operations and head of investment structuring and business support in Asia. He succeeds Abbas Rizvi (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/abbas-rizvi-b4368319\/?originalSubdomain=bh\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), who has been tapped as CFO of Investcorp Holdings.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investcorp-capital\/\">Investcorp Capital<\/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\/umm-al-quwain\/\">Umm Al Quwain<\/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=\"90542\" 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=\"90543\" 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=\"90543\">\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\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/is-the-russian-expat-boom-slowing\/\">\r\n                            Is the Russian expat boom slowing? Plus: Emirates CEO\u2019s two cents on what Boeing needs                        <\/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\/28\/is-the-russian-expat-boom-slowing\/\" 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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           \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\/28\/is-the-russian-expat-boom-slowing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1471.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90544\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/is-the-russian-expat-boom-slowing\/1471-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1471.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1471.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1471.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1471.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90543\" class=\"content-area-description single-story post-90543 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-emirates tag-enterpriseam-uae tag-fdi tag-uae-in-the-news tag-uae-russia-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\/.6b58be07-62f6-40e8-808d-6aa9b897491d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a mixed bag for the UAE in the foreign press this morning<\/strong>, with one dominant theme being a tougher environment for Russian expats in the country. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Are Russians over the UAE? <\/strong>Some Russian expats in the UAE are considering returning home or moving away after an expat boom last year drove up rents and costs of living, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-28\/dubai-s-glitz-dims-for-russians-on-costs-us-sanction-pressures\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing bankers and experts. Russian money flows into the UAE are also slowing down, and businesses are downsizing, one immigration firm representative said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This isn't expected to have an impact on the economy: <\/strong>While Russians have left their mark on both Dubai and Abu Dhabi \u2014 but more so Dubai \u2014 the impact from a potential exodus of expats would be minimal considering the presence of other wealthy expats from different nationalities, experts said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Russian oil firms are also reportedly experiencing payment delays due to heightened scrutiny<\/strong> from UAE banks, as well as banks in China and Turkey, over US sanctions compliance, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/russia-struggles-collect-oil-payments-china-uae-turkey-raise-bank-scrutiny-2024-03-27\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports.<\/p>\n<p class=\"tag-border-left\"> ALSO WORTH NOTING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates CEO Tim Clark wants to see the next Boeing CEO have a \u201cstrong <\/strong><strong>engineering\u201d background <\/strong>and exhibit more \u201clateral thinking\u201dfollowing an escalating crisis in quality at the airplane manufacturer, he told the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/fcacc767-5f05-414e-bebc-61c737764e7b\" style=\"\" rel=\"noopener\">Financial Times<\/a>. Emirates is one of the manufacturer\u2019s biggest clients.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/emirates\/\">Emirates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-in-the-news\/\">UAE IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-russia-relations\/\">UAE-Russia 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=\"90545\" 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=\"90545\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/adnoc-begins-crude-oil-production-from-belbazem-offshore-block\/\">\r\n                            Adnoc begins crude oil production from Belbazem offshore block                        <\/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\/28\/adnoc-begins-crude-oil-production-from-belbazem-offshore-block\/\" 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 block \u2014 located 120 km northwest of Abu Dhabi \u2014 comprises three offshore fields in Belbazem, Umm Al Salsal, and Umm Al Dholou. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> Adnoc aims to produce up to 45k barrels a day (bbl \/ d) of light crude through the block, and 27 mn standard cubic ft per day of associated gas, eyeing a company production target of 5 mn bbl\/d by 2027, with an eye towards achieving gas self-sufficiency. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher: <\/strong>Adnoc awarded an AED 2.73 bn construction contract for the Belbazem offshore block back in <a target=\"_blank\" href=\"https:\/\/adnoc.ae\/en\/news-and-media\/press-releases\/2021\/adnoc-awards-usd744-million-contract-for-full-field-development-of-the-belbazem-offshore-block\" style=\"\" rel=\"noopener\">May 2021<\/a>. Belbazem leverages operational facilities from the Satah Al Razboot offshore field operated by Adnoc Offshore, plus Al Yasat\u2019s AI and digitization solutions to enhance efficiency while slashing emissions and costs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Positive Zero + Tamimi Energy partner on solar energy:<\/strong> Subsidiaries of KSA\u2019s <a target=\"_blank\" href=\"https:\/\/www.tamimienergy.com\/\" style=\"\" rel=\"noopener\">Tamimi<\/a><a target=\"_blank\" href=\"https:\/\/www.tamimienergy.com\/\" style=\"\" rel=\"noopener\">Energy<\/a> and Dubai-based decarbonization firm <a target=\"_blank\" href=\"https:\/\/www.positivezero.com\/\" style=\"\" rel=\"noopener\">Positive Zero<\/a> have signed a partnership agreement to develop solar projects across Saudi Arabia, according to a <a target=\"_blank\" href=\"https:\/\/sirajpower.com\/positive-zero-and-tamimi-energy-join-forces-to-support-rapid-growth-of-saudi-clean-energy-market\/\" style=\"\" rel=\"noopener\">statement<\/a>. Subsidiaries Sirajpower and Enerco will work together to finance, develop and source talent and tech for commercial and industrial solar power solutions across the Kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Positive Zero just received a lot of funds to put towards decarbonization projects:<\/strong> US-based investment giant BlackRock <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/8fe9e705-13ed-477d-9135-d10d32696df7\/uae%25e2%2580%2599s%253cmark%253e-positive-zero-%253c%2Fmark%253eis-getting-usd-400-mn-from-blackrock-for-decarbonization-efforts\" style=\"\" rel=\"noopener\">invested USD 400 mn<\/a> in Positive Zero through a diversified infrastructure fund. The investment allows Positive Zero to grow its sustainable energy adoption and offer fully financed sustainable energy solutions across the GCC which it has already begun doing in the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/123c70da-9926-41c3-a0b4-28ed13d8fe12\/uae-and-france-launch-climate-investment-platform\" style=\"\" rel=\"noopener\">UAE<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/93cfd03d-1ec6-4ad4-9a13-cda3b136e8e1\/saint-gobain-10-mw-solar-powered-glass-factory-in-progress\" style=\"\" rel=\"noopener\">Oman<\/a>.<\/p>\n<p class=\"tag-border-left\">AGRICULTURE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Badia Farms teams up with Bahraini Edamah to invest in Bahrain\u2019s sustainable <\/strong><strong>agriculture sector: <\/strong>Dubai-based urban vertical farming company <a target=\"_blank\" href=\"https:\/\/www.badiafarms.com\/\" style=\"\" rel=\"noopener\">Badia Farms<\/a> signed a partnership with the <a target=\"_blank\" href=\"https:\/\/www.edamah.com\/\" style=\"\" rel=\"noopener\">Bahrain Real Estate Investment Company<\/a> (Edamah), the real estate arm of Bahraini sovereign wealth fund Mumtalakat, to invest \u201cseveral mn USD\u201d to establish a sustainable farm in Bahrain, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/edamah_aenaexaepaetaer-aepaesaeqaefaepaehabraepaesaehaeqaepaezaey-activity-7178035406720909316-qjzc?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">statement<\/a>. Under the agreement, Badia will lease a 50k sqm plot of land in the Bahraini village of Hamala from Edamah. <\/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 will see Badia use advanced hydroponic farming methods, water recycling and solar power to maintain year-round crop production, according to a separate <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/edamah-and-badia-farms-partner-on-innovative-new-agricultural-project-in-bahrain-f202t98i\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE-based Green Metal Industries has earmarked AED 367 mn (USD 100 mn) to <\/strong><strong>set up a steel recycling and manufacturing plant<\/strong> located in AD Ports\u2019 Khalifa Economic Zones Abu Dhabi, Kezad, according to a <a target=\"_blank\" href=\"https:\/\/www.adportsgroup.com\/en\/news-and-media\/2024\/03\/27\/green-metal-industries-to-set-up-steel-recycling-and-production-facility-in-kezad\" style=\"\" rel=\"noopener\">statement<\/a>. Located in the Kezad industrial area, Kezad Al Ma\u2019mourah, the plant will span some 116k sqm and is set to commence commercial operations in 1Q 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INFRASTRUCTURE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DIP Angola taps Chinese firm for infrastructure works: <\/strong><a target=\"_blank\" href=\"https:\/\/dipangola.com\/\" style=\"\" rel=\"noopener\">Dubai Investments Park<\/a><a target=\"_blank\" href=\"https:\/\/dipangola.com\/\" style=\"\" rel=\"noopener\">(DIP) Angola<\/a> signed an agreement with China Harbour Engineering Company (CHEC) for the first phase of DIP Angola\u2019s infrastructure development, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/dubai-investments-park-angola-inks-deal-for-phase-1-infrastructure-development-qah1s9o4\" style=\"\" rel=\"noopener\">press release<\/a>. Over the course of 10 months, CHEC will construct the roadworks, storm sewer systems, water systems, and electrical infrastructure for phase 1A of the project.<\/p>\n<p class=\"tag-border-left\">REAL ESTATE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- New sustainable residence in Dubai Marina? <\/strong>Dubai-based real estate developer Select Group and IHG Hotels & Resorts\u2019 Six Senses are launching a 122-storey Six Senses Residences in Dubai Marina, including 251 residences, and wellness infrastructure and amenities, in what it says will be the world\u2019s tallest residential tower, IHG said in a <a target=\"_blank\" href=\"https:\/\/www.ihgplc.com\/en\/news-and-media\/news-releases\/2024\/six-senses-residences-dubai-marina-engineered-with-integrated-wellness-from-the-ground\" style=\"\" rel=\"noopener\">statement<\/a>. The project is slated for handover in 1Q 2026, with WSP Middle East responsible for design and construction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Key Mavens Development is gearing up to launch a new AED 300 mn project in Dubai Creek\u2019s <\/strong><strong>Jaddaf Waterfront area<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/key-mavens-development-company-is-preparing-to-launch-its-new-project-montage-at-a-cost-of-300mln-dirhams-wgsj0q7s\" style=\"\" rel=\"noopener\">press release<\/a>. The project, named Montage, will offer luxury residential units at what it says will be \u201creasonable prices compared to its location.\u201d<\/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\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi-based healthcare company M42\u2019s Imperial College London Diabetes Centre <\/strong><strong>is set to inaugurate a center for diabetes treatment in Madinat Zayed<\/strong>, Al Dhafra in 2H 2024, the Abu Dhabi Media Office <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/health\/m42s-imperial-college-london-diabetes-centre-to-open-first-diabetes-dedicated-tech-enabled-facility-in-al-dhafra-region\/\" style=\"\" rel=\"noopener\">said<\/a>. The center aims to facilitate treatment for over 6k patients in the area by cutting travel time by 75%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INS.-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PureHealth\u2019s subsidiary, the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.damanhealth.ae\/\" style=\"\" rel=\"noopener\">National Health Ins. Company (Daman)<\/a><\/strong><strong> has<\/strong><strong> partnered with <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.axaglobalhealthcare.com\/en\/\" style=\"\" rel=\"noopener\">Axa Global Healthcare<\/a><\/strong> to offer international private medical ins. plans to its customers in the UAE that provide access to Axa\u2019s network of 1.9 mn healthcare providers worldwide, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/13u2uft-daman-provides-international-health-insurance\" style=\"\" rel=\"noopener\">Wam<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<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>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.abudhabichamber.ae\/en\" style=\"\" rel=\"noopener\">Abu Dhabi Chamber of Commerce<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/uaeiic.ae\/en\/\" style=\"\" rel=\"noopener\">UAE International Investors<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/uaeiic.ae\/en\/\" style=\"\" rel=\"noopener\">Council<\/a><\/strong><strong> will promote <\/strong><strong>Abu Dhabi as a global investment hub<\/strong> by forming economic delegations and holding joint workshops and international events to expand the Chamber\u2019s international members, after the two sides signed an agreement, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/government-news\/abu-dhabi-chamber-and-uae-international-investors-council-sign-collaboration-agreement-to-promote-their-strategic-cooperation-v2tr221z\" style=\"\" rel=\"noopener\">press release<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/daman\/\">Daman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dp-world\/\">DP World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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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=\"90547\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/victims-of-the-ftx-meltdown-are-getting-100-of-their-money-back-and-then-some\/\">\r\n                            Victims of the FTX meltdown are getting 100% of their money back \u2014 and then some                        <\/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    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data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2536.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2536.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2536.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90547\" class=\"content-area-description single-story post-90547 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-cryptocurrency tag-enterpriseam-uae tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.ae7e318b-fb16-4bc7-bf8d-a9e4acdb5225.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>FTX founder Sam Bankman-Fried will be sentenced in a US court today, and it\u2019s anyone\u2019s <\/strong><strong>guess how many years he\u2019ll do in the pokey: <\/strong>A handful, as his lawyers have suggested, or up to five decades, as prosecutors are suggesting. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why is it so hard to sort out? <\/strong>And why is the gulf between defense and prosecution sentencing recommendations so wide?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Crypto has soared since FTX melted down \u2014 its appreciation against the greenback is <\/strong><strong>masking the underlying losses. <\/strong>Prosecutors have called the meltdown of FTX \u201cone of the biggest financial frauds in American history.\u201d But his legal team told the judge that, in the end, everyone is being made whole through bankruptcy proceedings: \u201cEach victim . . . will receive 100 cents on the USD, plus interest,\u201d they say.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Customers may in fact get 40% than the initial value of their claims <\/strong>against FTX, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ee1579c1-9837-4262-bafa-053cde94e538\" style=\"\" rel=\"noopener\">Financial Times<\/a> said earlier this week, citing remarks by FTX\u2019s bankruptcy administrators. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But, but, but\u2026 <\/strong>That math relies on the fact that clients who filed claims against FTX are getting their money back in USD. But their original assets were crypto, and BTC, for example, is up about 4.4x to nearly USD 70k between the time FTX\u2019s meltdown and now. The value of the AI assets FTX held \u2014 including a nearly USD 1 bn stake in Anthropic that administrators recently sold \u2014 have also soared.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Read more in the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a9fdccbc-e8ff-4c85-ac81-94cf9c2cad8c\" style=\"\" rel=\"noopener\">Financial Times<\/a><\/strong> or head to our website for links to the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/currencies\/the-crypto-reboot-that-wasnt-why-ftx-2-0-floundered-5e729c4c\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.coindesk.com\/policy\/2024\/03\/27\/how-sam-bankman-frieds-sentencing-hearing-may-play-out\/\" style=\"\" rel=\"noopener\">CoinDesk<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/03\/27\/sbf-team-argues-for-5-6-year-sentence-ftx-customers-to-get-money-back.html\" style=\"\" rel=\"noopener\">CNBC<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also worth knowing about this morning:<\/strong><\/p>\n<ul>\n<li><strong>From the FT\u2019s Lex: \u201c<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1c6b9b22-e0fa-402f-b6c5-9ac480c8f1a3\" style=\"\" rel=\"noopener\">Donald Trump taps superfans to make Spacs great again.<\/a><\/strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1c6b9b22-e0fa-402f-b6c5-9ac480c8f1a3\" style=\"\" rel=\"noopener\"><\/a> TMTG looks like a rightwing meme stock combined with the classic pathologies of the blank cheque bubble.\u201d<\/li>\n<li><strong>There should be \u201cno rush\u201d to cut rates given recent US inflation data<\/strong>, a senior US Federal Reserve official said yesterday, though he didn\u2019t rule out the possibility of rate hikes later this year. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/feds-waller-still-sees-no-rush-cut-rates-amid-sticky-inflation-data-2024-03-27\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE MARKETS THIS MORNING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian shares are in the red this morning <\/strong>while US futures were largely unchanged overnight, leaving the Dow, Nasdaq Composite, and S&P 500 still on track to close the first quarter up 10% or more. European futures were up slightly as we slid toward dispatch time this morning, suggesting major benchmarks will open in the green later today.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Today is the last day of trading in 1Q 2024 for most Western markets, which will close Friday and Monday for the Easter holiday weekend. <\/p>\n<p><a target=\"_blank\" id=\"t.1accb0a91cbb9e1b7c7df1d856f9545fd3be2865\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,273<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: -3.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,231<\/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: 4.2%)<\/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>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\">3,716<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9% (YTD: -3.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;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-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,607<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +5.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28,224<\/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\">-2.9% (YTD: +13.4%)<\/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>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\">5,248<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: +10.0%)<\/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>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\">0.0% (YTD: +2.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,081<\/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: +12.4%)<\/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>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 86.31<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.07%<\/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 1.72<\/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\">-3.9%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,194.8<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 69,010.50<\/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% (YTD: +63.2%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ADX fell 0.5% yesterday<\/strong> on turnover of AED 1.2 bn. The index is down 3.2% 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>Ooredoo (+3.1%), Emsteel Building Materials (+2.8%) and Response Plus Holding (+2.4%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>The National Bank of Ras Al Khaimah (-4.6%), RAK for White Cement and Construction Materials (-3.7%) and E7 Group (-3.3%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the DFM<\/strong>, the index fell 0.3% on turnover of AED 663.8 mn, while Nasdaq Dubai closed down 0.9%.<\/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>The Emirates Central Cooling Systems Corporation (Empower) has approved the<\/strong><strong>distribution of AED 425 mn in dividends for 2H 2023<\/strong>, a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2476.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a> reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates Driving Company approved the distribution of AED 183.2 mn in cash dividends<\/strong><strong> in 2023<\/strong>, equivalent to 34% of paid capital for the year, amountings to 17 fils per share, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2495.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai Refreshment approv<\/strong><strong>ed a dividend payout of AED 72 mn for 2023<\/strong>, equivalent to 80 fils per share, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2504.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"90549\" 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\/28\/90549-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90549\" class=\"content-area-description single-story post-90549 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>26 March-21 July (Tuesday-Sunday): \u2018From Kalila wa Dimna to La Fontaine: Traveling through Fables\u2019 <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.louvreabudhabi.ae\/en\/exhibitions\/kalila-wa-dimna\" style=\"\">exhibition<\/a><\/span><span style=\"font-weight:400;\">, Louvre Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 March (Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tickets.dubairacingclub.com\/landing.html\" style=\"\">The Dubai World Cup<\/a><\/span><span style=\"font-weight:400;\">, Meydan Racecourse.<\/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>17 April (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/machinescansee.com\/\" style=\"\">Machines Can See<\/a><\/span><span style=\"font-weight:400;\">, Museum of the Future, 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>18-19 April (Thursday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.dubai.token2049.com\/\" style=\"\">TOKEN2049<\/a><\/span><span>, Madinat <\/span><span>Jumeirah<\/span><span style=\"font-weight:400;\"> in Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19 April-5 May (Tuesday- Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.dubaiesportsfestival.com\/en\/home\" style=\"\">Dubai Esports & Games Festival<\/a><\/span><span style=\"font-weight:400;\"> (DEF 2024). <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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>23-25 April (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.domotex.de\/en\/about-us\/domotex-worldwide\/domotex-middle-east\/\" style=\"\">Domotex Middle East 2024<\/a><\/span><span>, Dubai World <\/span><span>Trade<\/span><span style=\"font-weight:400;\"> Centre. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">24-26 April (Wednesday-Friday): Global Education & Training Exhibition.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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>6-9 May (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wtm.com\/atm\/en-gb\/lp\/register-for-arabian-travel-market.html?utm_source=google&utm_medium=cpc&utm_campaign=cpc&utm_content=search_branded&gad_source=1&gclid=CjwKCAjwh4-wBhB3EiwAeJsppIU3GbvlJ38AFwezne5fd-tNEyE4gz2rOCTb_BMKLmi6gtMVN4PHWRoCEH0QAvD_BwE\" style=\"\">The Arabian Travel Market<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Centre, Dubai. <\/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>21-23 May (Tuesday-<\/span><span>Thursday<\/span><span>):<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.isnrabudhabi.com\/\" style=\"\">International Exhibition for National Security & Resilience<\/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>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\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>RAK gov\u2019t ups stake in RAK Properties | Mashreq\u2019s Morillo on fintech + AI | DP World\u2019s push for expansion<\/p>\n","protected":false},"featured_media":90526,"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-90525","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"5af943c9-5e9c-4f2e-ad6b-78af1de98cf8","teaser":"RAK gov\u2019t ups stake in RAK Properties | Mashreq\u2019s Morillo on fintech + AI | DP World\u2019s push for expansion","photo_url":"https:\/\/ent.news\/2024\/3\/2544.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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