{"id":90879,"date":"2024-04-15T00:00:00","date_gmt":"2024-04-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=90879"},"modified":"2025-12-15T00:00:44","modified_gmt":"2025-12-15T00:00:44","slug":"lunate-olayan-take-49-stake-in-dubai-office-tower","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/lunate-olayan-take-49-stake-in-dubai-office-tower\/","title":{"rendered":"Lunate, Olayan take 49% stake in Dubai office tower"},"content":{"rendered":"<section id=\"90881\" 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=\"90881\">\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\/04\/15\/another-stormy-week\/\">\r\n                            THIS MORNING: Another stormy week. PLUS: World Bank and IMF meetings kick off in DC                        <\/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\/04\/15\/another-stormy-week\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/another-stormy-week\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/895.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90882\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/another-stormy-week\/895-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/895.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"895.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/895.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/895.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90881\" class=\"content-area-description single-story post-90881 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-economy tag-energy tag-ma-watch tag-war-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\/4\/.7624de6d-33e9-45c7-88e3-ab607837c201.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people. <\/strong>We hope you had a lovely Eid break and that your return to work is as smooth and easy as possible. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The generous nine-day break was the last one for a while: Our next holiday won\u2019t come before mid-June, in time for Eid Al Adha. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY<\/strong> over the Eid break was Lunate and Riyadh\u2019s Olayan Group\u2019s acquisition of a 49% stake in Dubai\u2019s largest office tower, the ICD Brookfield Place (ICDBP). The acquisition is one of the largest commercial real estate transactions globally since 2020. <\/p>\n<p class=\"tag-border-left\"> PUBLIC SERVICE ANNOUNCEMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- We\u2019re getting some showers over the next few days:<\/strong> The country is expected to see heavy rainfall, accompanied by lightning and thunder, especially on coastal and southern regions, from today until early Wednesday morning, according to the <a target=\"_blank\" href=\"https:\/\/twitter.com\/ncmuae\/status\/1779488739611254972\" style=\"\" rel=\"noopener\">National Center of Meteorology<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- You can now download ownership and private benefit deeds in Sharjah from <\/strong><strong>UAE Pass<\/strong>\u2019 digital wallet, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2ni9kb-sharjahs-real-estate-registration-links-%E2%80%98ownership\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The new service covers ownership, joint ownership, and usufruct deeds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Consumers now have the right to request product recalls through the <\/strong><strong>Economy Ministry's 'right to recall' service<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/uae\/uae-now-consumers-can-request-recall-of-goods-from-market-heres-how\" style=\"\" rel=\"noopener\">Khaleej Times<\/a> reports. This service was previously limited to the good\u2019s original supplier and \u201cthe relevant party in the UAE, or in the country of origin, or in any other country\u201d. The service, which is free of charge, can be accessed through the ministry's website or app and is overseen by the Competition and Consumer Protection Department. Recalled goods can be viewed on the ministry's website.<\/p>\n<p class=\"tag-border-left\"> HAPPENING THIS WEEK- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>The 2024 spring meetings of the World Bank and the International Monetary Fund <\/strong><strong>(IMF) kicked off on Thursday <\/strong>and run until Saturday, 20 April, in Washington, DC. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What you need to know:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini is leading the <\/strong><strong>UAE\u2019s delegation at the meetings<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/twitter.com\/MOFUAE\/status\/1779085466068713527\" style=\"\" rel=\"noopener\">ministry statement<\/a>. The delegation also includes other officials from the Finance Ministry and the Central Bank of the UAE, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/economy\/2024\/04\/13\/%D8%A7%D9%84%D8%A7%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AA%D8%B4%D8%A7%D8%B1%D9%83-%D9%81%D9%8A-%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9%D8%A7%D8%AA-%D8%A7%D9%84%D8%B1%D8%A8%D9%8A%D8%B9-%D9%84%D9%85%D8%AC%D9%85%D9%88%D8%B9%D8%A9-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A-%D9%88%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D9%86%D9%82%D8%AF\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kristalina Georgieva<\/strong>, the IMF\u2019s managing director, will hold a press briefing this Thursday to discuss the global policy agenda, which will be followed by a separate briefing hosted by <strong>Jihad Azour<\/strong>, IMF\u2019s director of Middle East and Central Asia department.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart: Georgieva just got a second, five-year term <\/strong>as IMF boss. Her next term begins on 1 October 2024. The IMF\u2019s executive board said she was getting another term thanks to her \u201cstrong and agile leadership \u2026 navigating a series of major global shocks.\u201d Georgieva was named IMF boss just months before covid-19 kicked off. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Renewables giant Masdar will host the World Future Energy Summit from <\/strong><strong>tomorrow through to this Thursday, 18 April, in Abu Dhabi<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/masdar.ae\/en\/news\/newsroom\/masdar-set-for-leading-role-at-world-future-energy-summit\" style=\"\" rel=\"noopener\">statement<\/a>. The summit will address solutions for development in the transformation of future energy systems, and feature discussions on recycling, waste-to-energy, and air-to-water trends and progressions. The event will include a Green Hydrogen Summit to ramp up the development of the global green hydrogen economy and support the transition towards net-zero emissions, where former UK Prime Minister Boris Johnson will deliver a keynote address, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2ni9n4-boris-johnson-bertrand-piccard-headline-masdar%E2%80%99s\" style=\"\" rel=\"noopener\">Wam<\/a> writes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The government-organized AI summit Machines Can See is scheduled to take place this <\/strong><strong>Wednesday <\/strong>at the Museum of the Future in Dubai. The one-day event will discuss the use of AI to transform urban systems and services, outlook on AI investments, and explore the risks of AI.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Token2049 is taking place this Thursday and Friday at Madinat Jumeirah in Dubai.<\/strong> The event is set to bring together over 10k attendees from more than 5k companies, featuring over 200 speakers and more than 150 exhibitors. Flare Network\u2019s co-founder and CEO of Flare Labs, Hugo Philio is set to speak at the event on 18 April, according to a statement posted on X.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt3\"><\/a> <strong>There\u2019s no single big story abroad this morning, but driving the news for the foreseeable future: <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Are we looking at an Iran-Israel war? <\/strong>Saudi, G7, Egyptian, and G20 leaders are all pushing Tel Aviv and Tehran to cool off lest they tip things over into a wider regional conflagration. It\u2019s the singular priority in policymaking circles this morning, as underscored by the banner headline in the Wall Street Journal: <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/biden-wanted-to-avoid-a-regional-war-now-hes-got-one-770745f3\" style=\"\" rel=\"noopener\">Biden wanted to avoid a regional war. Now he\u2019s got one<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The key message to Israel, per Politico: <\/strong><a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/04\/14\/us-israel-responding-iran-00152150\" style=\"\" rel=\"noopener\">Don\u2019t do something you\u2019ll regret.<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh and Abu Dhabi could be key to how this all plays out<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/gulf-states-vulnerable-influential-seek-stop-new-iran-israel-war-2024-04-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a> notes, given our unique positions as intermediaries between Iran, Israel, and the United States. We unpack that notion in our War Watch section, below.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The wildcard: How will Netanyahu react? <\/strong>And on what time scale? International leaders will have plenty of forums in which to express \u201cdeep concern\u201d this week, with G7 foreign ministers and EU heads of state both set to meet on Wednesday and G20 finance ministers meeting on Thursday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also \u201ctop of mind\u201d<\/strong> as we keep shrugging off the post-Eid blues:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The IMF and World Bank annual meetings get fully underway later today<\/strong> in Washington, DC. The IMF will release its World Economic Outlook and part of its Global Financial Stability report tomorrow and its fiscal monitor on Wednesday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- It\u2019s earnings season once again. <\/strong>1Q figures are set to kick off in the West and here at home, with Goldman Sachs, Bank of America, Morgan Stanley, and BNY Mellon all set to release financial reports between today and tomorrow. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not enough news in the pipeline for you?&nbsp;<\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/fa1844c4-ac2e-48ce-9c99-a8352533d6e2\/\" style=\"\" rel=\"noopener\">The halving of BTC<\/a><\/strong> should take place sometime around Saturday, <strong>Donald Trump\u2019s criminal hush-money trial<\/strong> gets underway today in New York City, and <strong>India kicks off its 44-day parliamentary election<\/strong> process on Friday.<\/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=\"wwtt4\"><\/a><strong> #1- Abu Dhabi-backed RedBird IMI is in talks with the UK government to potentially sell the Telegraph <\/strong><strong>and Spectator titles separately<\/strong>, a step that might draw in additional interested parties, including former Fox News head Rupert Murdoch, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-12\/redbird-imi-wants-uk-to-allow-separate-telegraph-spectator-sale\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. RedBird IMI has tapped Raine Group to oversee any sale process and is examining various sale structures. This includes negotiations with the British Department for Culture, Media, and Sport on \u201cwhether it can convert its call option over the media assets into shares,\u201d according to Sky News. RedBird expects that selling the Spectator independently could yield around GBP 100 mn (AED 457.2mn) or more. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong>RedBird IMI\u2019s acquisition of the two magazines <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6dfacfc8-c431-4a7e-938b-a330c9d30130\/adnoc,-bp-put-newmed-stake-acquisition-on-hold-%2B-uk-takes-another-step-towards-blocking-redbird-imi%25e2%2580%2599s-telegraph-takeover-bid\" style=\"\" rel=\"noopener\">stalled<\/a> after the UK government passed a resolution that would ban foreign state ownership of media outlets. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Alabbar exits Belarus:<\/strong> Real estate b\u2019naire Mohamed Alabbar has entered a preliminary agreement to sell his stake in \u201ca USD multi-bn property development\u201d in Belarus\u2019 capital, Minsk, amid Western sanctions imposed on the country, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/uae-property-tycoon-withdraws-sanctions-hit-belarus-collaborates-with-kushner-2024-04-07\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing sources in the know. Alabbar plans to sell off his stake through his investment vehicle Symphony Global Holdings, the sources said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2026and looks to venture into Serbia:<\/strong> As he is reportedly exiting his investments in Belarus, Alabbar is looking to invest in Serbia to redevelop a property that formerly belonged to the Yugoslav army into a residential complex, according to the newswire. Alabbar will cooperate on the Serbia development with former US President Donald Trump\u2019s son-in-law Jared Kushner, Donald Trump\u2019s son-in-law, saying he is \u201cvery excited about more high-end development in the market.\u201d However, a source familiar with the investment plans told Reuters that the talks are still in the early stages, with the property tycoon joining as an advisor. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#3- Altman pushes for more large-scale AI infrastructure:<\/strong> OpenAI CEO Sam Altman pushed for private sector support for costly, large-scale AI infrastructure, boosting chip supply, energy, and data center capacity during meetings with investors and government officials in the UAE last week, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-10\/openai-s-altman-pitches-global-ai-coalition-on-trip-to-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing people familiar with the discussions. Altman\u2019s visit to the UAE comes as he is aiming to ramp up global infrastructure for AI against concerns that infrastructure development will not keep up with rapid developments in the technology.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not Altman\u2019s first time in town: <\/strong>In <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0264addb-0ed9-4d3e-bdd6-3452dc45784a\/response-plus-medical-acquires-uk-based-prometheus-medical-%2B-japan-kyoto-trade-exhibition-begins-today\" style=\"\" rel=\"noopener\">January<\/a>, Altman met with Sheikh Tahnoon bin Zayed Al Nahyan and Abu Dhabi-based G42 while attempting to onboard large global investors for a proposed USD multi-bn chip venture. The funds would go toward setting up a network of factories to manufacture semiconductors to address OpenAI\u2019s semiconductor needs and decrease reliance on semiconductor chip giant Nvidia.<\/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=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/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\/war-watch\/\">War 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=\"90883\" 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=\"90883\">\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\/04\/15\/lunate-olayan-take-49-stake-in-dubais-largest-office-tower\/\">\r\n                            Lunate, Olayan acquire 49% stake in Dubai\u2019s ICD Brookfield Place in rare upbeat transaction                        <\/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\/04\/15\/lunate-olayan-take-49-stake-in-dubais-largest-office-tower\/\" 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\/04\/15\/lunate-olayan-take-49-stake-in-dubais-largest-office-tower\/')\">\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\/04\/15\/lunate-olayan-take-49-stake-in-dubais-largest-office-tower\/\">\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=Lunate, Olayan take 49% stake in Dubai\u2019s largest office tower&url=https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/lunate-olayan-take-49-stake-in-dubais-largest-office-tower\/\">\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\/04\/15\/lunate-olayan-take-49-stake-in-dubais-largest-office-tower\/&title=Lunate, Olayan take 49% stake in Dubai\u2019s largest office tower\">\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=Lunate%2C+Olayan+take+49%25+stake+in+Dubai%E2%80%99s+largest+office+tower+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F04%2F15%2Flunate-olayan-take-49-stake-in-dubais-largest-office-tower%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\/04\/15\/lunate-olayan-take-49-stake-in-dubais-largest-office-tower\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/771.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90884\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/lunate-olayan-take-49-stake-in-dubais-largest-office-tower\/771-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/771.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"771.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/771.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/771.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90883\" class=\"content-area-description single-story post-90883 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-adq tag-brookfield tag-enterpriseam-uae tag-lunate tag-ma-watch 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\/4\/.43d3bb8b-42bb-45ac-964f-cbf060864822.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Abu Dhabi investment firm Lunate and <\/strong><strong>Riyadh\u2019s<\/strong><strong> Olayan Group have acquired a 49% <\/strong><strong>stake in ICD Brookfield Place (ICDBP)<\/strong>, buying into Dubai\u2019s largest office tower, according to a <a target=\"_blank\" href=\"https:\/\/lunate.com\/en\/news-insights\/announcements\/olayan-and-lunate-acquire-stakes-in-icd-brookfield-place\" style=\"\" rel=\"noopener\">joint statement<\/a> last week. The acquisition is one of the largest commercial real estate transactions globally since 2020 \u2014 and stands out as a rare commitment to office space after demand for the asset class contracted sharply in most major global centers in the wake of the covid-19 pandemic.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know: <\/strong>A <a target=\"_blank\" href=\"https:\/\/lunate.com\/\" style=\"\" rel=\"noopener\">Lunate<\/a> fund and <a target=\"_blank\" href=\"https:\/\/olayan.com\/\" style=\"\" rel=\"noopener\">Olayan Financing Company<\/a> will separately acquire 24.5% stakes in the tower. The Investment Corporation of Dubai (ICD) \u2014 the Dubai government\u2019s principal investment arm \u2014 and Brookfield will evenly split the remaining 51%. Financial terms of the agreement were not disclosed, but Bloomberg previously set the tower\u2019s value at USD 1.5 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve been expecting this: <\/strong>The tower was put up for sale last year with interest mainly coming from buyers from the region and Asia, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-04\/dubai-real-estate-abu-dhabi-s-adq-to-bid-for-icd-brookfield-place\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. Abu Dhabi wealth fund ADQ was reportedly among bidders looking to grab a minority stake in the tower.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the tower: <\/strong>ICDBP is a mixed-use real estate development that is home to global financial institutions, law firms and other offices, including JP Morgan, BNP Paribas, and Clifford Chance. It is over 98% occupied at premium rents, according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cThis transaction further supports our Long Term Capital strategy to invest in premium assets, delivering attractive yields and capital appreciation,\u201d said Lunate Managing Partner Murtaza Hussain. \u201cThis investment is a testament to the continued demand for premier office properties like ICD Brookfield Place and underscores the fact that capital continues to seek high-quality real estate globally,\u201d added Jad Ellawn, managing partner and regional head of the Middle East at Brookfield.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/brookfield\/\">Brookfield<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/lunate\/\">Lunate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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=\"90885\" 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=\"90885\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/adnoc-gets-the-green-light-for-fertiglobe-acquisition\/\">\r\n                            Adnoc gets the green light for Fertiglobe acquisition                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/adnoc-gets-the-green-light-for-fertiglobe-acquisition\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/adnoc-gets-the-green-light-for-fertiglobe-acquisition\/')\">\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\/04\/15\/adnoc-gets-the-green-light-for-fertiglobe-acquisition\/\">\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=Adnoc gets the green light for Fertiglobe acquisition&url=https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/adnoc-gets-the-green-light-for-fertiglobe-acquisition\/\">\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\/04\/15\/adnoc-gets-the-green-light-for-fertiglobe-acquisition\/&title=Adnoc gets the green light for Fertiglobe acquisition\">\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=Adnoc+gets+the+green+light+for+Fertiglobe+acquisition+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F04%2F15%2Fadnoc-gets-the-green-light-for-fertiglobe-acquisition%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\/04\/15\/adnoc-gets-the-green-light-for-fertiglobe-acquisition\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1046.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90886\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/adnoc-gets-the-green-light-for-fertiglobe-acquisition\/1046-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1046.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1046.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1046.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1046.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90885\" class=\"content-area-description single-story post-90885 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-adnoc tag-enterpriseam-uae tag-fertiglobe tag-investment tag-ma tag-ma-watch 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\/4\/.5c4ecb1e-a65d-413e-9fad-2bc31c712603.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The European Commission has approved the Abu Dhabi National Oil Company (Adnoc)\u2019s<\/strong><strong> acquisition of Netherlands-based OCI Global\u2019s stake in Fertiglobe<\/strong>, according to a European Commission (EC) <a target=\"_blank\" href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/mex_24_1823\" style=\"\" rel=\"noopener\">statement<\/a> last week. Chemical producer OCI Global <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c1b11e94-533d-4af4-984c-ed48fd056c83\/adnoc-becomes-a-majority-shareholder-in-fertiglobe\" style=\"\" rel=\"noopener\">previously held<\/a> a 50% +1 stake in their joint venture Fertiglobe for AED 13.28 bn (c.USD 3.62 bn).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> The two companies signed a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0950134a-1a6b-4cfe-837a-20e8600359de\/adnoc-to-acquire-50%2525-stake-in%253cmark%253e-fertiglobe-%253c%2Fmark%253efrom-oci-for-usd-3.62-bn\" style=\"\" rel=\"noopener\">binding agreement<\/a> to offload OCI\u2019s 51% stake in Fertiglobe in December. Adnoc\u2019s shares in Fertiglobe were said to have increased to 86.2% at the time, with the remaining in freefloat on the Abu Dhabi Securities Exchange. Fetiglobe shares were priced at an 8% premium at AED 3.20 (c.USD 0.87) per share, OCI said in December.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What Adnoc stands to gain:<\/strong> The acquisition aims to boost the production and distribution of nitrogen fertilizers by Fetiglobe, according to the EC statement. Adnoc\u2019s acquisition of OCI\u2019s stakes is part of a company drive to expand its global ammonia production network, in efforts to grow a platform for the low-carbon fuel which also serves a (green) hydrogen carrier.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fertiglobe is positioning itself as a major ammonia player: <\/strong>Fertiglobe sent the world\u2019s first <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/e9bd1665-9b52-41eb-bea5-a8f4c0966873\" style=\"\" rel=\"noopener\">ISCC PLUS-certified (International Sustainability and Carbon Certification) green ammonia shipment<\/a> to India from its electrolyzer facility in Egypt\u2019s Suez Canal Economic Zone in December. Fertiglobe, alongside Adnoc-ADQ JV Ta\u2019ziz, GS Energy, and Mitsui, has also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a7ee2a39-7450-4ac3-be27-eea643fe8ecf\" style=\"\" rel=\"noopener\">signed a shareholder agreement<\/a> to construct a facility to produce some 1 mn tons of low-carbon ammonia annually in the UAE. The company is currently studying another green hydrogen project in the UAE in collaboration with Masdar and Engie.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not the first \u2014 or last \u2014 partnership between Adnoc and OCI: <\/strong>Both sides <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c1b11e94-533d-4af4-984c-ed48fd056c83\/adnoc-becomes-a-majority-shareholder-in-fertiglobe\" style=\"\" rel=\"noopener\">inked an MoU<\/a> to explore importing and distributing ammonia in the EU in December. The agreement will see the two explore joint investments in decarbonization and product distribution projects in North America and Europe. OCI is also considering offering its US crop nutrient unit Iowa Fertilizers to Adnoc for more than USD 3 bn.<\/p>\n<p class=\"tag-border-left\">IN OTHER ADNOC NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adnoc had its eyes on BP for LNG portfolio, but has reportedly backed out: <\/strong>Adnoc reportedly entered discussions to acquire a \u201cbig stake\u201d in multinational oil and gas company <a target=\"_blank\" href=\"https:\/\/www.bp.com\/\" style=\"\" rel=\"noopener\">BP<\/a> in a bid to up its liquefied natural gas (LNG) portfolio, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/uaes-adnoc-recently-eyed-bp-takeover-target-sources-say-2024-04-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing people familiar with the matter. Talks \u201cdidn\u2019t go far,\u201d after the Emirati oil giant weighed political considerations and decided that BP would not be the right fit for its strategy, the sources added. Adnoc also looked at other international companies for wider LNG access, with no further information disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale for a no to BP? <\/strong>UK governments have in the past told BP that they would block any takeover attempts by foreign entities, owing to the company's strategic value at GBP 88 bn, Reuters adds, citing people familiar with the matter. The potential government intervention might have swayed Adnoc\u2019s decision on the transaction \u2014 especially after the British government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/8dcfa86d-6c4f-42e8-a876-49f89eb35c70\/more-ipo-activity-ahead\" style=\"\" rel=\"noopener\">recently<\/a> objected to a UAE-led takeover of British newspaper The Telegraph.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:&nbsp;<\/strong>Adnoc has doubled down on its efforts to increase oil and gas production capacity, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bf7bd619-f88a-4b27-a210-0c319a28d66f\/adnoc-gas-earmarks-usd-13-bn-for-local-%2B-int%25e2%2580%2599l-expansion\" style=\"\" rel=\"noopener\">recently earmarking USD 13 bn<\/a> over the next five years to expand in domestic and international markets. The company plans to double its LNG production capacity by 2028, and grow its global presence by \u201cacquiring new positions in the gas value chain, targeting opportunities in Europe, India, China and South-East Asia.\u201d Adnoc is reportedly seeking to submit a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d9446c8e-1486-4248-adb0-b63091d03864\/australia%25e2%2580%2599s-trade-minister-is-coming-to-town-%2B-plenty-of-tennis-for-the-weekend\" style=\"\" rel=\"noopener\">bid higher than EUR 11.3 bn<\/a> to acquire German polymer materials manufacturer Covestro.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fertiglobe\/\">Fertiglobe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"90887 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=\"90887\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/90887-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90887\" class=\"content-area-description single-story post-90887 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"http:\/\/www.mashreq.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/386.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"90888\" 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=\"90888\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/fab-considers-acquisition-of-turkish-lender-yapi-kredi\/\">\r\n                            FAB eyeing Yapi Kredi acquisition amid growing interest in Turkish investments                        <\/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\/04\/15\/fab-considers-acquisition-of-turkish-lender-yapi-kredi\/\" 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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Neither Yapi Kredi nor FAB commented on the reports. \u201cAs an investment holding company, we may evaluate alternatives regarding our portfolio and engage in discussions with relevant parties as necessary at all times,\u201d Yapi Kredi\u2019s majority owner, Koc Holding AS, said in a statement in response to reports of a MENA investor\u2019s interest in acquisitions in Turkey, according to Bloomberg.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FAB isn\u2019t the only UAE bank to have shown interest in Turkish investments:<\/strong> Dubai Islamic Bank <a target=\"_blank\" href=\"https:\/\/www.dib.ae\/about-us\/news\/2023\/09\/28\/dubai-islamic-bank-a-leading-financial-institution-in-the-uae-enters-turkish-digital-banking-and-financial-technology-sector-via-an-equity-investment-in-tom-group-of-companies\" style=\"\" rel=\"noopener\">announced in September<\/a> that it plans to purchase a 20% stake in Turkey's TOM Group of Companies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Ties between the UAE and Turkey have warmed as of late:<\/strong> Last year, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/turkeys-erdogan-ends-gulf-tour-with-abu-dhabi-visit-2023-07-19\/\" style=\"\" rel=\"noopener\">the UAE<\/a> inked over USD 50 bn in agreements with Turkey during a visit from Turkish President Recep Tayyip Erdogan, including commitments to develop energy and natural resources projects and a trade agreement.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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=\"90890\" 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=\"90890\">\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\/04\/15\/dp-world-is-reportedly-eyeing-an-acquisition-of-hong-kong-based-cargo-services-far-east\/\">\r\n                            DP World is reportedly eyeing an acquisition of Hong Kong-based Cargo Services Far East                        <\/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\/04\/15\/dp-world-is-reportedly-eyeing-an-acquisition-of-hong-kong-based-cargo-services-far-east\/\" 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\/04\/15\/dp-world-is-reportedly-eyeing-an-acquisition-of-hong-kong-based-cargo-services-far-east\/')\">\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\/04\/15\/dp-world-is-reportedly-eyeing-an-acquisition-of-hong-kong-based-cargo-services-far-east\/\">\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=DP World is reportedly eyeing an acquisition of Hong Kong-based Cargo Services Far East&url=https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/dp-world-is-reportedly-eyeing-an-acquisition-of-hong-kong-based-cargo-services-far-east\/\">\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\/04\/15\/dp-world-is-reportedly-eyeing-an-acquisition-of-hong-kong-based-cargo-services-far-east\/&title=DP World is reportedly eyeing an acquisition of Hong Kong-based Cargo Services Far East\">\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=DP+World+is+reportedly+eyeing+an+acquisition+of+Hong+Kong-based+Cargo+Services+Far+East+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F04%2F15%2Fdp-world-is-reportedly-eyeing-an-acquisition-of-hong-kong-based-cargo-services-far-east%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\/04\/15\/dp-world-is-reportedly-eyeing-an-acquisition-of-hong-kong-based-cargo-services-far-east\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2163.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90891\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/dp-world-is-reportedly-eyeing-an-acquisition-of-hong-kong-based-cargo-services-far-east\/2163-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2163.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2163.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2163.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2163.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90890\" class=\"content-area-description single-story post-90890 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-dp-world tag-enterpriseam-uae tag-hong-kong tag-ma-watch 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\/4\/.1a5fd2a7-9b9c-4db2-9581-bb54cbeec1fd.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Port<\/strong><strong> operator DP World is reportedly finalizing the acquisition of Hong Kong-based <\/strong><strong>logistics firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cargofe.com\/\" style=\"\" rel=\"noopener\">Cargo Services Far East<\/a><\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-05\/dubai-s-dp-world-said-to-near-deal-for-hong-kong-tycoon-s-assets\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported, citing sources with knowledge of the matter. The potential acquisition could be valued between USD 300-400 mn, with the move set to expand DP World\u2019s Asian footprint.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Details are scant:<\/strong> Both firms are working to finalize the transaction, with an announcement possible in the coming days, sources told Bloomberg. A final value of the acquisition depends on the assets included in the sale. We first caught wind of the talks <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/dfa5b9c0-e7e0-493c-a8bb-2104b685fd58\/dp-world-in-talks-to-acquire-hong-kong-based-logistics-firm\" style=\"\" rel=\"noopener\">back in November<\/a>, with sources at the time valuing a potential takeover at USD 800 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the company: <\/strong>Cargo Services Far East \u2014 owned by Hong Kong tycoon John Lau \u2014 operates in cold chain logistics, ocean and freight shipping, and fashion distribution, according to Bloomberg. The company has offices in 35 cities in China, Singapore, Australia, South Africa, and the US. The firm\u2019s stock dipped by around 31% over the last 12 months, valuing the company at around USD 212 mn, the outlet also said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DP World has been on an expansion spree: <\/strong>DP World inked an agreement with Brazil\u2019s leading railway operator Rumo to establish a new terminal for grains and fertilizers at Port Santos <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3bac5505-d570-47ba-9b3f-5002f0a38827\/dp-world-to-build-new-grain-and-fertilizer-terminal-at-brazil%25e2%2580%2599s-santos-port-%2B-boost-global-handling-capacity-by-year%25e2%2580%2599s-end\" style=\"\" rel=\"noopener\">last month<\/a>. The port operator also announced that it was gearing up to develop a new <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c78133a0-0f4a-4383-90cc-c55ff44d4506\/du-secures-fintech-license-%2B-dubai-is-getting-a-new-university\" style=\"\" rel=\"noopener\">USD 50 mn logistics center<\/a> in South Korea\u2019s Busan New Port, with construction slated to begin at the end of the year and operations kicking off by 2Q 2026.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dp-world\/\">DP World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/hong-kong\/\">Hong Kong<\/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=\"90892\" 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=\"90892\">\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\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/airlines-suspend-reroute-flights-following-iran-attack-against-israel\/\">\r\n                            Airlines suspend + reroute flights following Iran attack against Israel                        <\/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\/04\/15\/airlines-suspend-reroute-flights-following-iran-attack-against-israel\/\" 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 attacks \u2014 which comes after Iran vowed to retaliate for an Israeli attack on 1 April on the Iranian embassy in Damascus that killed 16 members of the Revolutionary Guards \u2014 marks a significant escalation between the regional enemies. Some 99% of the drones were intercepted, Israeli military spokesperson Daniel Hagari told the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a5096429-5eb5-4d0f-8525-5e60c3b35448\" style=\"\" rel=\"noopener\">Financial Times<\/a> yesterday, with the UK and US also intervening to intercept some of the drones, the newspaper reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Jordan, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.nna-leb.gov.lb\/en\/politics\/687357\/lebanon-lifts-airspace-closure-beirut-airport-resu\" style=\"\" rel=\"noopener\">Lebanon<\/a><\/strong><strong>, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/mot.iraq\/posts\/pfbid029nNEpJQLvrv6VVKWrJcR7wNJEU868KWXBEaYMqkhbyXUziEhu9AEH3wNcSSnKb8Ul?locale=ar_AR\" style=\"\" rel=\"noopener\">Iraq<\/a><\/strong><strong> closed their airspaces as a temporary precautionary measure after <\/strong><strong>Iran launched the drones<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-14\/airlines-confront-new-iran-israel-risks-as-disruption-grows?srnd=economics-trade\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. Lebanon and Iraq both reopened their airspaces on Sunday morning. Amman continued its closure for several hours, but also followed suit yesterday, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/jordan-iraq-reopen-airspace-after-iran-attacks-2024-04-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Israel shut its airspace for both domestic and international routes on Saturday before reopening them yesterday morning. Flights will remain canceled at Tehran\u2019s Mehrabad International Airport until 6 am, Iranian news agency <a target=\"_blank\" href=\"https:\/\/en.irna.ir\/news\/85443614\/Iran-extends-flight-cancellation-at-Tehran-airport\" style=\"\" rel=\"noopener\">IRNA<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Which airlines were affected:<\/strong> Etihad Airways canceled flights to Tel Aviv and Amman yesterday and rerouted others to and from Europe and North America, an airline representative told <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/travel\/2024\/04\/14\/emirates-etihad-and-other-uae-airlines-cancel-and-divert-flights-amid-airspace-closures\/\" style=\"\" rel=\"noopener\">the National<\/a>. Emirates also canceled some flights and temporarily rerouted others, but resumed operations yesterday. \u201cWith the re-opening of these airspaces, we are resuming our scheduled operations to\/from Jordan, Lebanon, and Iraq from the afternoon of April 14,\u201d a spokesperson told the newspaper.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There was a naval escalation, too:<\/strong> Prior to the drones, Iran\u2019s Revolutionary Guard seized an Israeli-linked MSC container vessel, MSC Aries, in the Strait of Hormuz \u2014 around 50 nautical miles north of Fujairah \u2014 on Saturday, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/62603\/%D8%A5%D9%8A%D8%B1%D8%A7%D9%86-%D8%AA%D8%B3%D9%8A%D8%B7%D8%B1-%D8%B9%D9%84%D9%89-%D8%B3%D9%81%D9%8A%D9%86%D8%A9-%D9%85%D9%85%D9%84%D9%88%D9%83%D8%A9-%D9%84%D8%B1%D8%AC%D9%84-%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D8%A5%D8%B3%D8%B1%D8%A7%D8%A6%D9%8A%D9%84%D9%8A-%D9%82%D8%B1%D8%A8-%D8%A7%D9%84%D9%81%D8%AC%D9%8A%D8%B1%D8%A9\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reported on Saturday. The vessel was operating a service from UAE\u2019s Khalifa port to Nhava Sheva in Mumbai, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a88ddb36-0af5-4718-afbc-6f6fbab366a9\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE reacts:<\/strong> The UAE called for \u201crestraint\u201d and \u201cto avoid exacerbating tensions and instability in the region,\u201d according to a <a target=\"_blank\" href=\"https:\/\/www.mofa.gov.ae\/mediahub\/news\/2024\/4\/13\/14-4-2024-uae-war\" style=\"\" rel=\"noopener\">Foreign Ministry statement<\/a> yesterday. The ministry urged reaching a resolution through diplomatic channels and \u201cadhering to the rule of law. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Regional sources speaking to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/gulf-states-vulnerable-influential-seek-stop-new-iran-israel-war-2024-04-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a>&nbsp;<\/strong><strong>see mediators in Riyadh and Abu Dhabi being central<\/strong><strong> to a potential detente in the region<\/strong>, as Gulf states look to prevent a full-blown war between Iran and Israel. A war would impact Gulf states who share air space with Iran and host several US military bases. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A spillover that everyone is trying to avoid:<\/strong> \u201cNobody wants an escalation. Everybody wants to contain the situation,\u201d a Gulf source with knowledge of his government\u2019s thinking said. \u201cThe pressure is not on Iran alone. The pressure is now on Israel not to retaliate,\u201d the source said, adding that a response by Israel on vital Iranian sites \u201cwill affect all the region.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FACT CHECK- The UAE has not <\/strong><strong>suspended diplomatic ties with Israel<\/strong>, diplomatic sources from the two countries said, debunking social media claims, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/fact-check\/uae-did-not-suspend-ties-with-israel-diplomats-say-2024-04-10\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. The unverified reports of suspended ties had emerged after Israel <a target=\"_blank\" href=\"https:\/\/wck.org\/news\/gaza-team-update\" style=\"\" rel=\"noopener\">killed seven volunteers<\/a> from the nonprofit World Central Kitchen \u2014 the UAE\u2019s partner in the Amalthea humanitarian initiative in Gaza \u2014 at the beginning of the month. The UAE <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/25dc42a3-98f4-4466-9ac5-65a5c6ebd789\/sheikh-abdullah-bin-zayed-al-nahyan-talks-gaza-%2B-cooperation-with-hungarian-fm.-plus:-uae-condemns-israeli-attack-on-world-central%253cmark%253e-kitchen-%253c%2Fmark%253econvoy\" style=\"\" rel=\"noopener\">condemned the attack<\/a> at the time. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>President Sheikh Mohamed bin Zayed Al Nahyan spoke with Qatari Emir Tamim bin<\/strong><strong> Hamed Al Thani and Jordan\u2019s King Abdullah<\/strong> to discuss the situation in Gaza as well as boosting diplomatic ties, Wam reported separately (<a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2nia6x-uae-president-emir-qatar-discuss-bilateral\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2nia9r-uae-president-king-jordan-discuss-regional\" style=\"\" rel=\"noopener\">here<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong><strong>The UAE pledged more aid for Gaza: <\/strong>President Sheikh Mohamed bin Zayed Al Nahyan pledged USD 15 mn to Cyprus\u2019 Amalthea Fund, which aims to support the UAE-funded maritime corridor initiative to deliver aid to Gaza through Cyprus, according to a Foreign Ministry <a target=\"_blank\" href=\"https:\/\/www.mofa.gov.ae\/en\/mediahub\/news\/2024\/4\/10\/10-4-2024-uae-gaza\" style=\"\" rel=\"noopener\">statement<\/a>. Two aid cargo arranged by the UAE have <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e4bc7e1e-7bfb-4ffe-83f0-75f01ebaec27\/mgx-could-invest-in-openai%25e2%2580%2599s-chip-and-power-production-venture-%2B-eagle-hills%25e2%2580%2599-investment-in-budapest-could-reach-eur-10-bn\" style=\"\" rel=\"noopener\">set sail from Cyprus\u2019 Larnaca port<\/a> to Gaza through the new UAE-funded maritime corridors delivering aid to Gaza, with the first ship carrying 200 tonnes of food and supplies. The UAE has since <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/123bdc4a-0d5c-4b01-b0dc-e8e22eb53de4\/uae-suspends-gaza-maritime-aid-following-world-central-kitchen-aid-worker-killings\" style=\"\" rel=\"noopener\">paused<\/a> aid shipments to Gaza via its maritime corridor from Cyprus following an Israeli strike that killed seven World Central Kitchen workers.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/aviation\/\">Aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/emirates\/\">Emirates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/its-going-to-get-worse-before-it-gets-better-for-gcc-banks-with-turkish-subsidiaries\/\">\r\n                            GCC banks\u2019 Turkish subsidiaries to face higher losses in 2024 before disinflation kicks in -Fitch                        <\/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\/04\/15\/its-going-to-get-worse-before-it-gets-better-for-gcc-banks-with-turkish-subsidiaries\/\" target=\"_blank\">\n                    Open in new tab        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             <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/797.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90895\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/its-going-to-get-worse-before-it-gets-better-for-gcc-banks-with-turkish-subsidiaries\/797-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/797.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"797.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/797.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/797.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90894\" class=\"content-area-description single-story post-90894 post type-post status-publish format-standard has-post-thumbnail hentry category-banking tag-banking tag-emirates-nbd tag-enterpriseam-uae tag-fitch-ratings tag-inflation tag-turkey wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.034b83f7-3b7d-44e5-8d77-2112e3690526.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Gulf banks with subsidiaries in Turkey are expected to incur higher net losses <\/strong><strong>this year, before disinflation in Turkey begins to reduce the lenders\u2019 losses<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/banks\/gcc-banks-with-turkish-subsidiaries-to-benefit-from-macro-policy-shift-05-04-2024#:~:text=Fitch%20forecasts%20Turkish%20inflation%20to,2024%20and%2029%25%20in%202025.\" style=\"\" rel=\"noopener\">Fitch Ratings<\/a> said in a research note. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FOR CONTEXT-<\/strong> GCC banks\u2019 Turkish subsidiaries adopted hyperinflation reporting in 1H FY 2022 in response to cumulative inflation in Turkey exceeding 100% over three years. This reporting requires banks to include the net monetary losses in their income statements by restating their non-monetary assets and liabilities to reflect the impact of hyperinflation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates NBD was among the hardest-hit, along with Qatar National Bank (QNB)<\/strong>, with both lenders seeing their risk-weighted assets ratios, Fitch\u2019s core profitability metric, fall by 60-70 bps.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The outlook:<\/strong> Banks are now expected to turn in net losses of USD 2.8 bn this year \u2014 up from USD 2.6 bn in 2023 \u2014 on the back of high inflation in Turkey, which is expected to average at 53% this year. Fitch <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/banks\/gcc-banks-have-sufficient-buffers-to-withstand-turkish-risks-05-04-2023\" style=\"\" rel=\"noopener\">had previously forecasted<\/a> 2024 net losses for these banks would come in at USD 1.3 bn. However, net losses are expected to halve next year to USD 1.4 bn as disinflation takes hold in Turkey, with Fitch expecting inflation to cool to 29%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GCC banks are expected to no longer rely on hyperinflation reporting from 2027<\/strong>, as disinflation should reduce the subsidiaries\u2019 net monetary losses,'' according to Fitch. Additionally, \u201cslower TRY depreciation should reduce the adverse capital impact from currency translation losses,\u201d as the firm predicts the Turkish Lira\u2019s depreciation against the USD to slow down by 22% in 2024 and 7% in 2025 resulting in \u201csmaller currency translation losses and less capital erosion\u201d over the two years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Traditional monetary policy will do some good:<\/strong> The banks\u2019 losses will gradually fall in tandem with the decline in economic risks and the implementation of \u201ctraditional monetary policies,\u201d head of Middle East Banks at Fitch Redmond Ramsdale told Asharq Business (<a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/62536\/%D9%81%D9%8A%D8%AA%D8%B4-%D8%AA%D8%B1%D9%81%D8%B9-%D8%AA%D9%82%D8%AF%D9%8A%D8%B1%D8%A7%D8%AA%D9%87%D8%A7-%D9%84%D8%AE%D8%B3%D8%A7%D8%A6%D8%B1-5-%D8%A8%D9%86%D9%88%D9%83-%D8%AE%D9%84%D9%8A%D8%AC%D9%8A%D8%A9-%D9%85%D9%86-%D8%AA%D8%B6%D8%AE%D9%85-%D8%AA%D8%B1%D9%83%D9%8A%D8%A7-%D8%A5%D9%84%D9%89-73-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D9%88%D9%84%D8%A7%D8%B1\/\" style=\"\" rel=\"noopener\">watch, runtime, 5:23<\/a>). Fitch upgraded the ratings of 18 Turkish banks, including GCC lenders\u2019 subsidiaries, following Turkey\u2019s sovereign rating upgrade to \u2018B+\u2019 with a positive outlook from \u2018B\u2019 with a stable outlook in <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/banks\/fitch-upgrades-18-turkish-banks-places-5-vrs-on-rating-watch-positive-on-sovereign-upgrade-15-03-2024\" style=\"\" rel=\"noopener\">March<\/a>, signaling growing confidence in inflation falling on the back of the policies the country has been implementing since June 2023.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/emirates-nbd\/\">Emirates NBD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fitch-ratings\/\">Fitch Ratings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"90896\" 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=\"90896\">\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\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/dubai-introduces-new-authority-to-regulate-difc-local-court-disputes\/\">\r\n                            Dubai introduces new authority to regulate DIFC + local court disputes                        <\/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\/04\/15\/dubai-introduces-new-authority-to-regulate-difc-local-court-disputes\/\" 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\/04\/15\/dubai-introduces-new-authority-to-regulate-difc-local-court-disputes\/')\">\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\/04\/15\/dubai-introduces-new-authority-to-regulate-difc-local-court-disputes\/\">\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=Dubai introduces new authority to regulate DIFC + local court disputes&url=https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/dubai-introduces-new-authority-to-regulate-difc-local-court-disputes\/\">\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\/04\/15\/dubai-introduces-new-authority-to-regulate-difc-local-court-disputes\/&title=Dubai introduces new authority to regulate DIFC + local court disputes\">\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=Dubai+introduces+new+authority+to+regulate+DIFC+%2B+local+court+disputes+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F04%2F15%2Fdubai-introduces-new-authority-to-regulate-difc-local-court-disputes%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\/04\/15\/dubai-introduces-new-authority-to-regulate-difc-local-court-disputes\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1602.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90897\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/dubai-introduces-new-authority-to-regulate-difc-local-court-disputes\/1602-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1602.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1602.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1602.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1602.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90896\" class=\"content-area-description single-story post-90896 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation-watch tag-courts tag-difc tag-enterpriseam-uae tag-judiciary tag-regulation-watch 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\/4\/.47098b04-ebca-4dc8-b9bb-e16f67f1bc4c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A new authority will now be responsible for resolving jurisdictional conflicts <\/strong><strong>between Dubai courts<\/strong>, following a decree from Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/april\/08-04\/mbr-difc\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>. The Judicial Authority for Resolving Jurisdictional Conflicts between DIFC Courts and Judicial Authorities in the Emirate of Dubai overtakes the former Judicial Tribunal for Dubai Courts and DIFC Courts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Roles + responsibilities:<\/strong> The authority will decide which courts handle disputes, specify enforceable judgments in cases of conflicts, and carry out tasks assigned by the Ruler of Dubai or the Chairman of the Dubai Judicial Council. It will be chaired by the president of the Court of Cassation at Dubai Courts, with DIFC Courts deputy chief justice acting as deputy chairman.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Courts under its jurisdiction: <\/strong>The authority\u2019s legal rules are binding on all judicial bodies in Dubai, including the Court of Cassation, Court of Appeal, Court of First Instance, and any future courts in Dubai, plus DIFC Courts. Its decisions are binding but can be appealed.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/courts\/\">courts<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/difc\/\">DIFC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/judiciary\/\">judiciary<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/regulation-watch\/\">REGULATION 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=\"90898\" 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=\"90898\">\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\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/abu-dhabi-issues-decree-making-environmental-data-reporting-mandatory\/\">\r\n                            Abu Dhabi issues decree making environmental data reporting mandatory                        <\/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\/04\/15\/abu-dhabi-issues-decree-making-environmental-data-reporting-mandatory\/\" 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\/04\/15\/abu-dhabi-issues-decree-making-environmental-data-reporting-mandatory\/')\">\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\/04\/15\/abu-dhabi-issues-decree-making-environmental-data-reporting-mandatory\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Abu Dhabi issues decree making environmental data reporting mandatory&url=https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/abu-dhabi-issues-decree-making-environmental-data-reporting-mandatory\/\">\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\/04\/15\/abu-dhabi-issues-decree-making-environmental-data-reporting-mandatory\/&title=Abu Dhabi issues decree making environmental data reporting mandatory\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Abu+Dhabi+issues+decree+making+environmental+data+reporting+mandatory+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F04%2F15%2Fabu-dhabi-issues-decree-making-environmental-data-reporting-mandatory%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\/04\/15\/abu-dhabi-issues-decree-making-environmental-data-reporting-mandatory\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/157.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90899\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/abu-dhabi-issues-decree-making-environmental-data-reporting-mandatory\/157-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/157.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"157.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/157.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/157.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90898\" class=\"content-area-description single-story post-90898 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation-watch tag-abu-dhabi tag-enterpriseam-uae tag-regulation tag-regulation-watch 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\/4\/.e67478cd-31c0-4aef-bb1c-e4045ca12314.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New standards on environmental reporting: <\/strong>Businesses licensed by the Environment Agency of Abu Dhabi will be required to report their environmental data \u2014 including power usage and emissions \u2014 every year under a new decree issued by Chairman of the Environment Agency of Abu Dhabi (EAD) Sheikh Hamdan bin Zayed Al Nahyan, according to an <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/environment\/in-his-capacity-as-chairman-of-environment-agency-abu-dhabi-hamdan-bin-zayed-issues-resolution-on-reporting-environmental-data-in-the-emirate\/\" style=\"\" rel=\"noopener\">Abu Dhabi Media Office<\/a> last week. The statement did not clarify when the new requirements will go into effect. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The requirements: <\/strong>Businesses will have to report on their energy, water use, and emissions in Abu Dhabi during 1Q of each year. They will also need to include information on operations, equipment, and emission control, as well as report accidents. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EAD\u2019s role:<\/strong> The EAD will be responsible for setting standards, monitoring discharges, evaluating reports, and overseeing corrective actions, according to the statement. They will also conduct awareness workshops on environmental reporting. In addition to existing penalties, the EAD can impose further administrative penalties for violations of the new environmental reporting rules. The agency is also tasked with working out a mechanism through which businesses can report the data, the statement added.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/regulation\/\">regulation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/regulation-watch\/\">REGULATION 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=\"90900\" 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=\"90900\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/five-holdings-union-coop-report-2023-financial-results\/\">\r\n                            Five Holdings + Union Coop report 2023 results                        <\/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\/04\/15\/five-holdings-union-coop-report-2023-financial-results\/\" 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\/04\/15\/five-holdings-union-coop-report-2023-financial-results\/')\">\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\/04\/15\/five-holdings-union-coop-report-2023-financial-results\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Five Holdings + Union Coop report 2023 financial results&url=https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/five-holdings-union-coop-report-2023-financial-results\/\">\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\/04\/15\/five-holdings-union-coop-report-2023-financial-results\/&title=Five Holdings + Union Coop report 2023 financial results\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Five+Holdings+%2B+Union+Coop+report+2023+financial+results+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F04%2F15%2Ffive-holdings-union-coop-report-2023-financial-results%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\/04\/15\/five-holdings-union-coop-report-2023-financial-results\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/tax-abacus-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90901\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/five-holdings-union-coop-report-2023-financial-results\/tax-abacus-1600px-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/tax-abacus-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"tax-abacus-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/tax-abacus-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/tax-abacus-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90900\" class=\"content-area-description single-story post-90900 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-union-coop 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\/4\/.8ac2028e-9a7b-45f4-942d-ff180f306476.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hospitality group Five Holdings saw its net income increase 35% y-o-y to AED 314 mn in <\/strong><strong>2023<\/strong>, according to its <a target=\"_blank\" href=\"https:\/\/www.nasdaqdubai.com\/trading\/disclosures\/dbf324dd-636b-4b65-991a-580641415fb6\" style=\"\" rel=\"noopener\">earnings release<\/a>. The hospitality group\u2019s revenues rose 37% y-o-y to AED 1.7 bn during the year. On a pro forma basis, reflecting its acquisition of Universo Pacha SA, the company saw revenues of AED 2.1 bn, marking a 69% y-o-y increase, while net income reached AED 390 mn, up 68% y-o-y. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai-based UAE \u0441onsumers' co-operative Union Coop\u2019s net income stood at AED 297 <\/strong><strong>mn in 2023<\/strong>, down 19.7% y-o-y, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/801.pdf\" style=\"\" rel=\"noopener\">financial results (pdf)<\/a>. The company\u2019s revenues also fell 1.4% to AED 1.7 bn in 2023.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/union-coop\/\">Union Coop<\/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=\"90902\" 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=\"90902\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/etihad-taps-interim-coo-plus-new-un-ambassador-to-the-un\/\">\r\n                            Etihad taps interim COO. PLUS: New UN ambassador to the UN                        <\/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\/04\/15\/etihad-taps-interim-coo-plus-new-un-ambassador-to-the-un\/\" 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\/04\/15\/etihad-taps-interim-coo-plus-new-un-ambassador-to-the-un\/')\">\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\/04\/15\/etihad-taps-interim-coo-plus-new-un-ambassador-to-the-un\/\">\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=Etihad taps interim COO. PLUS: New UN ambassador to the UN&url=https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/etihad-taps-interim-coo-plus-new-un-ambassador-to-the-un\/\">\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\/04\/15\/etihad-taps-interim-coo-plus-new-un-ambassador-to-the-un\/&title=Etihad taps interim COO. PLUS: New UN ambassador to the UN\">\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=Etihad+taps+interim+COO.+PLUS%3A+New+UN+ambassador+to+the+UN+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F04%2F15%2Fetihad-taps-interim-coo-plus-new-un-ambassador-to-the-un%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\/04\/15\/etihad-taps-interim-coo-plus-new-un-ambassador-to-the-un\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2109.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90903\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/etihad-taps-interim-coo-plus-new-un-ambassador-to-the-un\/2109-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2109.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2109.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2109.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2109.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90902\" class=\"content-area-description single-story post-90902 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-uae tag-etihad-airways tag-moves tag-united-nations 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\/4\/.09188b87-bf44-4a77-8c0b-b0a7b5b3f9bb.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Etihad Airways<\/strong> has tapped <strong>John Wright<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/johnwright1721\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as <strong>interim COO and guest officer<\/strong>, as it embarks on a global talent search for a permanent appointment for the COO position, reports <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/business\/aviation\/2024\/04\/13\/etihad-chief-operating-officer-mohammad-al-bulooki-steps-down\/\" style=\"\" rel=\"noopener\">the National<\/a>. Wright previously held the position of vice president of network, airports, and cargo operations at Etihad. He replaces former COO Mohammad Al Bulooki (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mohammed-al-bulooki-434909236\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), who resigned from his position after taking on the role in 2018. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>President Sheikh Mohamed bin Zayed Al Nahyan<\/strong> has <strong>appointed Ambassador Mohamed Abushahab <\/strong>(<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mohamed-abushahab-381060215\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as the UAE\u2019s Permanent Representative to the United Nations, succeeding Ambassador Lana Nusseibeh, who has held the position since September 2013, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/13v5f97-ambassador-lana-nusseibeh-ends-tenure-permanent\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Abushahad assumes the role after joining the UAE mission to the UN as Deputy Permanent Representative in 2021. Nusseibeh will continue to serve as the political affairs assistant minister and envoy of the foreign affairs minister.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/etihad-airways\/\">Etihad Airways<\/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\/united-nations\/\">United Nations<\/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=\"90904\" 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\/117160.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=\"90905\" 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=\"90905\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/capital-markets-and-ai-in-the-spotlight\/\">\r\n                            Capital markets and AI in the spotlight                        <\/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\/04\/15\/capital-markets-and-ai-in-the-spotlight\/\" 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 business information service spoke to several investors and experts, as well as IHC CEO Syed Bsar Shueb, about the complex dynamics of capital markets and foreign vs. local investments in the country. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also getting attention: The UAE\u2019s race towards becoming an AI giant <\/strong>\u2014 especially as Saudi Arabia looks to ramp up its infrastructure, with both looking at ways to move up the AI ladder, including offering subsidies to cloud providers.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adx\/\">ADX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/dfm\/\">DFM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/nasdaq-dubai\/\">Nasdaq Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-in-the-news\/\">UAE IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"90907\" 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=\"90907\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/rta-awards-contract-for-1-6km-tunnel-in-dubai\/\">\r\n                            RTA awards contract for 1.6km tunnel in Dubai. PLUS: More from Mubadala, ADEK, Adafsa, and ITC                        <\/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\/04\/15\/rta-awards-contract-for-1-6km-tunnel-in-dubai\/\" 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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data-image-title=\"864.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/864.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/864.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90907\" class=\"content-area-description single-story post-90907 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-dubai tag-education tag-energy tag-enterpriseam-uae tag-healthcare tag-infrastructure tag-mubadala tag-roads-and-transport-authority tag-transportation 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\/4\/.207be697-f3db-476c-8f93-22f9956e0e25.mp3\"><\/audio><\/figure><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> D<\/strong><strong>ubai's Roads and Transport Authority has awarded a contract for constructing the Al <\/strong><strong>Khaleej Street Tunnel Project<\/strong>, part of the Al Shindagha Corridor Improvement Project, according to a <a target=\"_blank\" href=\"https:\/\/www.rta.ae\/wps\/portal\/rta\/ae\/home\/news-and-media\/all-news\/NewsDetails\/awarding-contract-for-3-lane-al-khaleej-street-tunnel-project\" style=\"\" rel=\"noopener\">press release<\/a>, which did not disclose the identity of the company that was awarded the contract. The 1.6 km tunnel, which will consist of six lanes and accommodate up to 12k vehicles per hour, will extend from the end of Deira\u2019s Infinity Bridge to the intersection of Al Khaleej and Cairo streets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Part of bigger plans to ease traffic:<\/strong> The Al Shindagha Corridor Improvement Project is expected to service 1 mn people and reduce travel times from 104 minutes to 16 minutes by 2030. <\/p>\n<p class=\"tag-border-left\">ENERGY<span style=\"background-color: transparent;\">-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mubadala-backed Atvos signs agreement for USD 69 mn biomethane plant in <\/strong><strong>Brazil: <\/strong>Brazilian sugarcane processor Atvos, which is backed by Abu Dhabi\u2019s Mubadala Capital, will build a USD 69.4 mn biomethane factory in Nova Alvorada do Sul in Brazil, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/wealth\/wealth-management\/mubadala-backed-atvos-inks-deal-to-build-69mln-biomethane-plant-in-brazil-orabwqor\" style=\"\" rel=\"noopener\">Reuters<\/a> reported on Thursday. Atvos already owns an ethanol factory at this location. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The biomethane plant will run on sugar cane waste and is expected to have a 28 mn cubic meter capacity per crop. Final approval is pending an engineering analysis, but the project should be underway this year. Mubadala Capital \u2014 the asset management arm of UAE investor Mubadala Investments \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/edcbe24f-803d-4fee-a975-fdaaac2b7dac\/today:-masdar-beats-acwa-power-in-a-bid-to-build-and-operate-the-sixth-phase-of-al-maktoum-solar-park\" style=\"\" rel=\"noopener\">acquired in October<\/a> Grupo Novonor\u2019s 6.85% stake in Atvos, bringing its total stake to 38.35<\/p>\n<p class=\"tag-border-left\">AVIATION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mubadala-owned Sanad will continue servicing Asiana Airlines\u2019 V2500 engine <\/strong><strong>fleet \u2014 exceeding 80 aircraft \u2014 for five more years<\/strong>, after inking a USD 145 mn five-year contract extension with the South Korean carrier on the sidelines of the MRO Americas event in Chicago, reports <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/fr\/article\/b2lpynz-sanad-solidifies-its-partnership-with-asiana\" style=\"\" rel=\"noopener\">Wam<\/a>. The Abu Dhabi-based aerospace engineering and leasing solutions company has been the sole maintenance, repair, and overhaul services provider in the MENA region for Asiana Airlines \u2014 South Korea\u2019s second-largest airline \u2014 since 2018.<\/p>\n<p class=\"tag-border-left\">EDUCATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Social care professionals working in private educational institutions will now be <\/strong><strong>granted licenses by Abu Dhabi\u2019s Department of Community Development and Department of Education and Knowledge (ADEK)<\/strong> after the two bodies inked an MoU, reports the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/community\/department-of-community-development-to-license-social-care-professionals-in-private-education-institutions-in-abu-dhabi\/\" style=\"\" rel=\"noopener\">Abu Dhabi Media Office<\/a>. The agreement aims to up the qualifications and services provided by social care workers employed in Abu Dhabi\u2019s private schools to support student well-being and improve their academic performance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The partnership will see the two bodies initially license 80 social care professionals working with ADEK, with the rest of the necessary licenses to be issued in the near future. A joint high-level committee comprising senior management from both departments will oversee the agreement\u2019s implementation and monitor the performance. As part of the agreement, the departments will also coordinate work on priority joint programs between the social and educational sectors, and ramp up information sharing.<\/p>\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>Adafsa joins global efforts to combat Covid:<\/strong> The <a target=\"_blank\" href=\"https:\/\/www.adafsa.gov.ae\/English\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Abu Dhabi Agriculture and Food<\/a><a target=\"_blank\" href=\"https:\/\/www.adafsa.gov.ae\/English\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Safety Authority (Adafsa)<\/a> laboratories have joined the World Health Organization\u2019s Coronavirus Network of Reference Laboratories, CoViNet, to participate in global research efforts aimed at early detection, surveillance and genetic characterization of coronaviruses, such as SARS-CoV-2 (better known as COVID-19) and MERS-CoV, according to a <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/health\/abu-dhabi-agriculture-and-food-safety-authority-laboratories-join-world-health-organization-coronavirus-network-as-reference-laboratory\/\" style=\"\" rel=\"noopener\">statement<\/a> from the Abu Dhabi Media Office.<\/p>\n<p class=\"tag-border-left\">TRANSPORTATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ITC partners <\/strong><strong>with Japanese<\/strong><strong> firm to enhance traffic intel:<\/strong> Abu Dhabi\u2019s <a target=\"_blank\" href=\"https:\/\/www.itc.gov.ae\/\" style=\"\" rel=\"noopener\">Integrated<\/a><a target=\"_blank\" href=\"https:\/\/www.itc.gov.ae\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.itc.gov.ae\/\" style=\"\" rel=\"noopener\">Transport Centre<\/a> has partnered with Japanese research company <a target=\"_blank\" href=\"https:\/\/locationmind.com\/\" style=\"\" rel=\"noopener\">LocationMind<\/a> to enhance data utilization and support traffic analysis efforts in Abu Dhabi, the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/transport\/integrated-transport-centre-partners-with-locationmind-to-advance-traffic-analysis-research\/\" style=\"\" rel=\"noopener\">Abu Dhabi Media Office<\/a> reports. The partnership seeks to deploy AI and machine learning for traffic analysis, accident prediction, and traffic signal optimization. It also plans to deploy smart city applications for real-time public transport updates and event-specific population movement alerts.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/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\/energy\/\">energy<\/a>\n      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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=\"90909\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"90909\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/faster-approvals-simpler-structure-and-more-impact-will-be-hallmarks-of-world-bank-its-chief-says\/\">\r\n                            Faster approvals, simpler structure, and more impact will be hallmarks of World Bank, its chief says                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/faster-approvals-simpler-structure-and-more-impact-will-be-hallmarks-of-world-bank-its-chief-says\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" 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  <a href=\"https:\/\/api.whatsapp.com\/send?text=Faster+approvals%2C+simpler+structure%2C+and+more+impact+will+be+hallmarks+of+World+Bank%2C+its+chief+says+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F04%2F15%2Ffaster-approvals-simpler-structure-and-more-impact-will-be-hallmarks-of-world-bank-its-chief-says%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/faster-approvals-simpler-structure-and-more-impact-will-be-hallmarks-of-world-bank-its-chief-says\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/834.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90910\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/faster-approvals-simpler-structure-and-more-impact-will-be-hallmarks-of-world-bank-its-chief-says\/834-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/834.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"834.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/834.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/834.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90909\" class=\"content-area-description single-story post-90909 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 tag-world-bank 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\/4\/.1caeb790-3659-4f56-a000-3ffce62964d9.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>World Bank Group President Ajay Banga kicked off the IMF and World Bank <\/strong><strong>Group\u2019s spring meetings last Thursday with a press conference <\/strong>at which he talked about challenges facing the global economy and how the group plans to expand its role in addressing them (<a target=\"_blank\" href=\"https:\/\/live.worldbank.org\/en\/event\/2024\/2024-spring-meetings-opening-press-conference?intcid=WBW_XPL_LangSched_EN_EXT_sm2024\" style=\"\" rel=\"noopener\">watch, runtime: 34:26<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>G20 wants the WB Group to play a larger role on the global scale: <\/strong>Banga touched on some of the most-talked-about global issues including climate change, food insecurity, pandemics, poverty, and scarce resources, saying that \u201cG20 leaders challenged the World Bank Group to change and to be a bigger part of the solution,\u201d with the bloc providing a roadmap of 27 recommendation for the group to boost the <strong>speed <\/strong>and <strong>simplicity <\/strong>of its processes, \u201cleveraging our [the group\u2019s] <strong>balance sheet<\/strong>, engaging <strong>partners <\/strong>and the <strong>private sector<\/strong>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More bucks for more bang: <\/strong>The group has liberated USD 40 bn over the past 10 years from its balance sheet by adjusting its loan to equity ratio to be able to take part in more projects with bigger investments. The group plans to use some of its tools including the portfolio guarantee mechanism, and the hybrid capital instrument \u201c to leverage every dollar we receive, six to eight times over the coming decade,\u201d Banga explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new fund for cross-border projects: <\/strong>Earlier this month, the group \u201cbegan offering 50-year financing through IBRD at no additional cost for projects that provide cross-border benefits,\u201d said Banga, adding that the group has launched a <strong>\u201cLivable Planet Fund that can be funded by governments, but also by philanthropies,\u201d<\/strong> to finance these new incentives. \u201cAll these instruments, what they do is they help us support the ambitions of middle-income countries, but we must do all we can to lift up lower-income countries,\u201d he highlighted.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mobilizing funds for lower-income countries:<\/strong> The IDA replenishment is coming up at the end of 2024 and the group is aiming to pool together generous funds to refill the association\u2019s coffers. \u201cIDA is the largest source of concessional financing for lower-income countries,\u201d said Banga.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Data openness to encourage private investment in developing economies<\/strong>: \u201cLast month, we started to publish our proprietary data as a global public good to kind of inspire investor confidence,\u201d said Banga, explaining that the group started by publishing private sector data by country income level, private sector default data categorized by credit rating, and sovereign default and recovery rate statistics dating back to 1985.<\/p>\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>Holding steady? <\/strong>Traders around the world seem to be taking Iran\u2019s missile and drone attack on Israel \u2014 unprecedented though it may be \u2014 with a grain of salt:<\/p>\n<ul>\n<li>US stock futures ticked up overnight and European futures inched down ever so slightly. All three major US indexes closed down last week;<\/li>\n<li>Gold and oil prices \u2014 both on an upward march of late, with gold having hit another all-time high last week \u2014 pulled back slightly yesterday;<\/li>\n<li>The USD is holding steady and BTC strengthened overnight. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING NOW- Major Asian benchmarks are down across the board this morning. <\/strong>The Shanghai Composite is taking it in stride, off 0.3% in early trading, while the Hang Seng, Kospi, and Nikkei are all down 1.1-1.3%.<\/p>\n<p><a target=\"_blank\" id=\"t.28d1af0656683151d606ec24af018c5b2d29f2fe\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,237<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: -3.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,244<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +4.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">3,729<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: 2.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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\">5.1% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,667<\/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: +5.9%)<\/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>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\">28,504<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.3% (YTD: +14.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;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\">5,123<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.5% (YTD: +7.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,996<\/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: +3.4%)<\/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>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,955<\/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: +9.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 90.45<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 1.77<\/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%<\/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 2,374.70<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 64,251.30<\/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\">+1.9% (YTD: +50.8%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\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>MBME Group approved paying shareholders 10% bonus shares as dividends for<\/strong><strong> 2023&nbsp;<\/strong>,amounting to AED 250 mn, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/799.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>Burjeel Holdings approved an interim dividend distribution of AED 65 mn<\/strong>, equivalent to one fils per share, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/800.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>Abu Dhabi-based Eshraq Investments canceled over 135k of its treasury shares<\/strong><strong> last week<\/strong>, reducing the firm\u2019s capital by AED 135 mn, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/815.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>NCTH seeks shareholder approval to acquire Alpha Dhabi subsidiaries:<\/strong> The National Corporation for Tourism and Hotels\u2019 general assembly is set to meet this Wednesday, 17 April to hold a shareholder vote on its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fa7faa39-cc5a-43f8-ab24-7aea18e4060c\/national-corporation-for-tourism-and-hotels-acquires-alpha-dhabi-subsidiaries\" style=\"\" rel=\"noopener\">proposal to merge three hotel businesses<\/a> owned by Alpha Dhabi into its portfolio through a share swap agreement, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/832.pdf\" style=\"\" rel=\"noopener\">ADX disclosure<\/a>. The targeted businesses for acquisition include ADH Hospitality, Murban (BVI) Holding, and Hill View Resorts in the Seychelles.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/world-bank\/\">World Bank<\/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=\"90911\" 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\/04\/15\/90911-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90911\" class=\"content-area-description single-story post-90911 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\">APRIL<\/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>15-16 April (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/blockchain-life.com\/asia\/en\/\" style=\"\">Blockchain Life Forum 2024<\/a><\/span><span style=\"font-weight:400;\">, Festival Arena, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 April (Monday): Dubai Metro Red Line Y junction goes live.<\/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>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;\">17-18 April (Wednesday-Thursday): International Translation Conference, Abu Dhabi National Library and Archives. <\/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 style=\"font-weight:400;\">, Madinat Jumeirah in Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>22-24 April (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.emiratesskills.ae\/en\/Competitions\/NationalCompetitions\/Pages\/default.aspx\" style=\"\">Emirates Skills National Competition<\/a><\/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 style=\"font-weight:400;\">, Dubai World Trade Centre. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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>29 April- 5 May (Friday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/adbookfair.com\/en\/adibf\/participation-terms-and-conditions\" style=\"\">The Abu Dhabi International Book Fair<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi National Exhibition Centre (ADNEC). <\/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>1-2 May (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.capitalmarketsummit.ae\/\" style=\"\">Capital Markets Summit<\/a><\/span><span style=\"font-weight:400;\">, Madinat Jumeirah, Dubai  <\/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>15 May (Wednesday): UAE and Indian officials are set to meet for the first time on the India-Middle East-Europe Economic Corridor. <\/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<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/investopia.ae\/events\/investopia-europe\/\" style=\"\">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-Thursday):<\/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>30 May (Thursday):<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/adfosummit.ae\/\" style=\"\">Abu Dhabi Family Office Summit<\/a><\/span><span style=\"font-weight:400;\">, Saadiyat Rotana Resort, 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;\">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>5-8 December (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tickets.formula1.com\/en\/f1-3312-abu-dhabi?pgs=1&gad_source=1&gclid=CjwKCAjw_e2wBhAEEiwAyFFFo5lKSTphNqFv_Ectz0OzLo0NjMI0mNztBGynm9Rtn7X60C1_KW-XpBoCweIQAvD_BwE\" style=\"\">Formula 1 Etihad Airways Abu Dhabi Grand Prix<\/a><\/span><span style=\"font-weight:400;\">, Yas Marina Circuit. <\/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>, Adnec Centre Abu <\/span><span>Dhabi<\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10-12 December (Tuesday-Thursday): Middle East Business Aviation, Dubai World Central.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Lots of M&#038;A | Are we looking at an Israel-Iran war? | New authority to regulate DIFC<\/p>\n","protected":false},"featured_media":90880,"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-90879","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"19de9934-0344-41fe-805e-ebab35df9da3","teaser":"Lots of M&A | Are we looking at an Israel-Iran war? | New authority to regulate DIFC","photo_url":"https:\/\/ent.news\/2024\/4\/532.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ 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