{"id":90938,"date":"2024-04-16T00:00:00","date_gmt":"2024-04-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=90938"},"modified":"2025-12-15T00:01:31","modified_gmt":"2025-12-15T00:01:31","slug":"economy-to-grow-3-9-this-year-according-to-the-economy-ministry-and-the-world-bank","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/economy-to-grow-3-9-this-year-according-to-the-economy-ministry-and-the-world-bank\/","title":{"rendered":"Economy to grow 3.9% this year, according to the Economy Ministry and the World Bank"},"content":{"rendered":"<section id=\"90940\" 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=\"90940\">\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\/16\/world-future-energy-summit-kicks-off-today\/\">\r\n                            THIS MORNING: School\u2019s out + World Future Energy Summit kicks off                        <\/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\/16\/world-future-energy-summit-kicks-off-today\/\" 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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projections from the Economy Ministry, the World Bank, and Oxford Economics for the <strong>UAE\u2019s GDP growth<\/strong> this year; and <strong>trade data<\/strong> from the World Trade Organization. <\/p>\n<p class=\"tag-border-left\">PUBLIC SERVICE ANNOUNCEMENTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong><strong>Registration for support services for students with special educational <\/strong><strong>needs for the 2024\/2025 academic year has opened until 28 June <\/strong>through the Community Development Ministry\u2019s <a target=\"_blank\" href=\"http:\/\/www.mocd.gov.ae\/\" style=\"\" rel=\"noopener\">website<\/a>, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.mocd.gov.ae\/en\/media-centre\/news\/15\/4\/2024\/news15-4-2024.aspx\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a><strong> #2- Public sector employees + students can stay home for the storm:<\/strong> Dubai Crown Prince Hamdan bin Mohammed Al Maktoum has mandated remote work for Dubai government employees and private school staff due to the ongoing storm in the emirate and other parts of the country, with exceptions for essential on-site roles, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2o3pna-hamdan-bin-mohammed-directs-dubai-government\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Students across the UAE will also take their classes remotely until Wednesday due to the weather conditions, the Government Media Office <a target=\"_blank\" href=\"https:\/\/x.com\/UAEmediaoffice\/status\/1779846281059315890\" style=\"\" rel=\"noopener\">said on X<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Human Resources and <\/strong><strong>Emiratization<\/strong><strong> Ministry has <\/strong><strong><a target=\"_blank\" href=\"https:\/\/x.com\/MOHRE_UAE\/status\/1779829543936663873\" style=\"\" rel=\"noopener\">also advised<\/a><\/strong><strong> private sector <\/strong><strong>companies to take the essential measures to safeguard workers\u2019 safety<\/strong> at outdoor work sites. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Traveling through DXB? Expect some delays today and tomorrow<\/strong> and allow for extra time to get through check-in at the airport, Emirates Airlines said in <a target=\"_blank\" href=\"https:\/\/x.com\/EmiratesSupport\/status\/1779887414204567663\" style=\"\" rel=\"noopener\">a post on X<\/a>.<\/p>\n<p class=\"tag-border-left\"> HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>#1-<\/strong><strong>The World Future Energy Summit kicks off <\/strong><strong>today in Abu Dhabi and runs through to Thursday, 18 April<\/strong>. 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. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The event will include a Green Hydrogen Summit to ramp up the development of the global green hydrogen economy<\/strong> 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<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- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.middleeast-energy.com\/en\/home.html\" style=\"\" rel=\"noopener\">Middle East Energy Exhibition<\/a><\/strong><strong> begins today in Dubai<\/strong> and runs until this Thursday, <a target=\"_blank\" href=\"https:\/\/www.albayan.ae\/world\/arab\/2024-04-15-1.4856003\" style=\"\" rel=\"noopener\">Albayan<\/a> reports. The event, organized by the Energy and Infrastructure Ministry, features over 1.5k exhibitors focused on energy security and sustainability solutions. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3-<\/strong><strong> The 2024 spring meetings of the World Bank and the International Monetary Fund <\/strong><strong>(IMF) continue today <\/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>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 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\"><strong>#1- The government-organized AI summit Machines Can See is scheduled to take place tomorrow&nbsp;<\/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>#2- 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<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<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- State oil companies in the GCC are projected to reduce spending until 2026 to a <\/strong><strong>still sizable USD 110-115 bn<\/strong>, which is expected to impact profitability and rig demand, according to an S&amp;P Global Ratings <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/ratings\/en\/research\/articles\/240415-gcc-oil-and-gas-producers-capex-cooldown-won-t-fire-up-drillers-leverage-13059990\" style=\"\" rel=\"noopener\">report<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Saudi Arabia\u2019s Aramco recently halted its capacity expansion plan, prompting concerns about spending among GCC oil and gas producers. However, the UAE and Qatar will continue to boost crude oil production capacity to 5 mn bpd, with Adnoc planning to achieve this target by 2027, compared to its current capacity of 4 mn bpd as of February 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a><strong> #2- <\/strong><strong>Dubai-based hotel operator Five <\/strong><strong>Holdings<\/strong><strong> Chairman Kabir Mulchandani is \u201cconcerned\u201d about the impact of regional tensions on the company and the wider industry<\/strong>, although the company has grown over the past several months despite Israeli tourists being a significant client base, Chairman Kabir Mulchandani tells <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/dubai-party-hotel-operator-five-worried-by-middle-east-flare-up-2024-04-15\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Some 8% of Five\u2019s business \u201ccomes from Israel,\u201d Mulchandani said, noting that the Israeli client market has become \u201cpractically zero\u201d since Israel\u2019s attack on Gaza began in October. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company \u2014 which has its eyes on an IPO next year \u2014 is keeping an eye on regional developments<\/strong> to determine the full scale of its impact on its business, the chairman said.<\/p>\n<p class=\"tag-border-left\"> DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The UAE telecom market size is projected to reach USD 9.37 bn in 2024<\/strong> and an estimated USD 10.93 bn in 2029, with a projected compound annual growth rate of 3.15% during the period, according to a <a target=\"_blank\" href=\"https:\/\/www.mordorintelligence.com\/industry-reports\/analysis-of-the-telecom-sector-in-the-united-arab-emirates-industry\/market-size#:~:text=The%20UAE%20Telecom%20Market%20size,period%20(2024%2D2029).\" style=\"\" rel=\"noopener\">report<\/a> by Mordor Intelligence. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Zayed Humanitarian Legacy initiative has pledged AED 20 bn over the next 10 <\/strong><strong>years<\/strong> to support global humanitarian and development efforts in aid delivery, inequality, and sustainable development, according to an Abu Dhabi Media Office <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/community\/chaired-by-theyab-bin-mohamed-bin-zayed-international-humanitarian-and-philanthropy-council-convenes-to-implement-aed20bn-zayed-humanitarian-legacy-initiative\/\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The value of assets managed on exchange traded funds in the UAE hit AED <\/strong><strong>771 mn in February 2024<\/strong>, up from AED 737.9 mn in 2023 and AED 61.5 mn in 2020, Sherif Salem, partner and head of public markets at Lunate, told <a target=\"_blank\" href=\"https:\/\/bit.ly\/3Q74rJd\" style=\"\" rel=\"noopener\">Al Etihad<\/a>. Trading volumes in ETFs rose to AED 5.2 bn in 2023, up from AED 2 bn in 2021, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a><strong> #4<\/strong><strong>- Dubai International Airport jumped to second place globally in passenger <\/strong><strong>numbers in 2023<\/strong>, rising from the fifth spot from the year prior, marking a 31.7% y-o-y increase to 87 mn passengers, according to the latest Airports Council International <a target=\"_blank\" href=\"https:\/\/aci.aero\/2024\/04\/14\/top-10-busiest-airports-in-the-world-shift-with-the-rise-of-international-air-travel-demand\/\" style=\"\" rel=\"noopener\">report<\/a>.<\/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>#5- Thermal power made up 77.7% of the UAE\u2019s total power generation mix by the <\/strong><strong>end of 2023<\/strong>, according to London-based data and analytics firm <a target=\"_blank\" href=\"https:\/\/www.globaldata.com\/media\/power\/uae-power-mix-will-continue-dominated-thermal-power-next-decade-says-globaldata\/\" style=\"\" rel=\"noopener\">GlobalData<\/a>. Gas-based thermal power comprised 80.2% of the power mix in 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Total thermal power capacity is expected to reach 46.1 GW by 2035<\/strong>, up from 41.2 GW in 2023. Coupled with the country\u2019s substantial gas and oil reserves, the UAE is anticipated to continue relying on thermal power for its energy mix over the next 10 years, the firm said.<\/p>\n<p class=\"tag-border-left\"> THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel\u2019s senior military officer signaled yesterday that \u201cmissiles into the territory of the <\/strong><strong>State of Israel will be met with a response.\u201d <\/strong>Herzi Halevi was speaking in a carefully choreographed set piece, standing in front of an F-35 fighter jet on one of the air bases Iran had targeted in the Sunday missile and drone attack. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHERE WE STAND NOW: Officials in the Arab world and the West are still working <\/strong><strong>overtime to try to tamp things down<\/strong>, with the United States, the European Union, Germany, France and the UK all urging Israel to hold back. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/38a1f8d2-404b-46ed-8285-39bcaca5bcb0\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/israels-next-move-after-iran-attack-involves-complex-calculations-2b998b3a\" style=\"\" rel=\"noopener\">WSJ<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/04\/15\/world\/iran-israel-gaza-war-news\" style=\"\" rel=\"noopener\">NYT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/04\/15\/israel-will-respond-iran-missile-attack-00152370\" style=\"\" rel=\"noopener\">Politico<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The tone abroad: <\/strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6c6d687b-2273-462c-a84f-6f8c033a6eef\" style=\"\" rel=\"noopener\">A dangerous turning point in the Middle East<\/a> (FT)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Regional markets were mixed as traders took things in stride: <\/strong>The ADX was up slightly, as was the Tadawul, while the DFM was largely flat. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US markets reacted much as <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2024-04-14\/iran-attacks-israel-what-it-implies-for-global-economy-markets\" style=\"\" rel=\"noopener\">Mohamed El Erian suggested<\/a><\/strong><strong> they would<\/strong>, with major benchmarks sagging at the closing bell. Traders of European equities took things with a bit more equanimity as major benchmarks closed up or little changed yesterday. Oil and gold were up a little bit in overnight trading. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EnterpriseAM Hyperbole Award\u2122: <\/strong>\u201cWe\u2019re now in the prelude to World War III precisely when humanity should rebuild its economy towards the rapid goal of decarbonization.\u201d <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/04\/15\/world-leaders-react-to-irans-unprecedented-air-assault-against-israel.html\" style=\"\" rel=\"noopener\">CNBC<\/a> used the \u201cprelude to World War III\u201d bit in its front-page coverage of sentiment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other headlines worth knowing about:<\/strong><\/p>\n<ul>\n<li><strong>Sales of Apple\u2019s iPhone lineup may have fallen as much as 10% in 1Q 2024<\/strong>, according to independent data, losing a bit of ground as Samsung launched its S24 lineup and Chinese manufacturers Xiaomi and Transsion picked up steam in their home market. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2c13254b-9995-4408-b02b-6f07ce706b8e\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/li>\n<li><strong>Tesla is laying off up to 10% of its global workforce<\/strong>, CEO Elon Musk said in a memo to employees. The company\u2019s shares were down 3% on the news. (<a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/04\/15\/tesla-shares-dip-in-premarket-trade-on-global-layoff-reports.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/li>\n<li><strong>Goldman Sachs\u2019 28% bottom-line growth beat analyst expectations<\/strong>, sending its stock up 3%. Advisory work, underwriting fees, and bond trading fueled profit growth. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/goldman-sachs-profit-jumps-28-investment-banking-strength-2024-04-15\/#:~:text=Goldman'\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/li>\n<\/ul>\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gulf Information Security Expo and Conference will take place from next Tuesday to Thursday, 23-25<\/strong><strong> April<\/strong> at the Dubai World Trade Centre. The event will gather hundreds of cybersecurity firms, government officials, and cyber experts from 130 countries. You can book your ticket here.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Carpet and flooring industry event Domotex Middle East 2024 is scheduled on 23-25 April <\/strong><strong>at the Dubai World Trade Centre.<\/strong> The event brings together industry leaders like Merinos, Oriental Weavers, Solomon Carpets, and Al Abdullatif, as well as brands like Azim Silk.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The World Economic Forum\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/special-meeting-on-global-collaboration-growth-and-energy-for-development-2024\/about\/\" style=\"\" rel=\"noopener\">Special Meeting on Global Collaboration, Growth<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/special-meeting-on-global-collaboration-growth-and-energy-for-development-2024\/about\/\" style=\"\" rel=\"noopener\">and Energy for Development<\/a><\/strong><strong> is scheduled for 28-29 April<\/strong> in Riyadh, Saudi Arabia. The two-day meeting addresses global challenges in economic development, including energy transitions and geopolitical tensions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It will feature over 700 participants, including Economy Minister Abdulla Bin Touq<\/strong>, who will sit on a <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/special-meeting-on-global-collaboration-growth-and-energy-for-development-2024\/sessions\/vacationomics\/\" style=\"\" rel=\"noopener\">panel covering the rise of the tourism sector<\/a>, and Majid Al Futtaim Holding CEO Ahmed Galal Ismail, who is participating in a <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/special-meeting-on-global-collaboration-growth-and-energy-for-development-2024\/sessions\/economic-perspectives-for-the-middle-east-and-north-africa\/\" style=\"\" rel=\"noopener\">panel on MENA economic perspectives<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T<\/strong><strong>he Abu Dhabi International Book Fair is set to take place from 29 April to 5 May <\/strong>at the Abu Dhabi National Exhibition Centre (Adnec), with Egypt as the guest of honor and Egyptian novelist Naguib Mahfouz as the focus personality. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Arabian Travel Market is taking place from 6-9 May at DWTC Dubai<\/strong> under the theme Transforming Travel Through Entrepreneurship. The event will focus on issues relating to entrepreneurial strategies designed<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The<\/strong><strong><a target=\"_blank\" href=\"https:\/\/tickets.formula1.com\/en\/f1-3312-abu-dhabi?pgs=1&amp;gad_source=1&amp;gclid=CjwKCAjw_e2wBhAEEiwAyFFFo2R7bisdO1JWme2C9Tuhl6DvWo17sanXAFj_mo8NI5w7g5I5kn98ZhoC7SoQAvD_BwE\" style=\"\" rel=\"noopener\"><\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/tickets.formula1.com\/en\/f1-3312-abu-dhabi?pgs=1&amp;gad_source=1&amp;gclid=CjwKCAjw_e2wBhAEEiwAyFFFo2R7bisdO1JWme2C9Tuhl6DvWo17sanXAFj_mo8NI5w7g5I5kn98ZhoC7SoQAvD_BwE\" style=\"\" rel=\"noopener\">Formula 1 Etihad Airways Abu Dhabi Grand Prix<\/a><\/strong><strong> is set to kick off at Yas <\/strong><strong>Marina Circuit on 5 December <\/strong>and run through 8 December. This event marks the 24th and final race of the longest Formula 1 season. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tourism\/\">tourism<\/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=\"90942\" 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=\"90942\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/16\/its-international-gdp-forecast-day\/\">\r\n                            Economy Ministry + World Bank + Oxford Economics chime in on GDP growth projections                        <\/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\/16\/its-international-gdp-forecast-day\/\" 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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That\u2019s up 0.4 percentage points from the ministry\u2019s previous forecast, which had penciled in 3.5% growth in 2024. The World Bank is on the same page, saying in its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/961.pdf\" style=\"\" rel=\"noopener\">MENA Economic Update report (pdf)<\/a> that it also expects GDP growth to hit 3.9% this year. Oxford Economics, meanwhile, has revised its projections for the UAE\u2019s growth down 0.4 percentage points to 4.4%, down from the 4.8% the advisory firm previously projected in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/64f0d406-ad8f-41f8-b5bb-f332c73b919c\/non-oil-sector,-ipo-momentum-to-be-main-drivers-of-uae%25e2%2580%2599s-economy-in-2024\" style=\"\" rel=\"noopener\">December<\/a>, Scott Livermore, chief economist at Oxford Economics Middle East, <a target=\"_blank\" href=\"https:\/\/wam.ae\/ar\/article\/b2o3h7w-%D8%A3%D9%83%D8%B3%D9%81%D9%88%D8%B1%D8%AF-%D8%A5%D9%8A%D9%83%D9%88%D9%86%D9%88%D9%85%D9%8A%D9%83%D8%B3-%D9%84%D9%80%D9%88%D8%A7%D9%85-56-%D9%86%D9%85%D9%88%D8%A7-%D9%85%D8%AA%D9%88%D9%82%D8%B9%D8%A7-%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\" style=\"\" rel=\"noopener\">told Wam<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s consensus that growth will pick up even more next year \u2014 although there\u2019s no <\/strong><strong>consensus on exact figures:<\/strong> The World Bank expects economic growth to accelerate to 4.1% in 2025, while Oxford Economics is more optimistic, saying the domestic economy could grow 5.6% next year, Livermore said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The Central Bank of the UAE said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3a93b9d0-a516-4b2b-8f3f-dd9f0aa362db\/cbuae-downgrades-its-growth-projections-for-2024,-saying-economy-will-grow-4.2%2525\" style=\"\" rel=\"noopener\">earlier this month<\/a> it expects the economy will grow at a 4.2% clip in 2024, marking a downward revision of 1.5 percentage points from its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/12f420c8-0f81-4607-a27d-a40a6ecc8281\" style=\"\" rel=\"noopener\">December<\/a> projection. The CBUAE sees growth accelerating to 5.2% in 2025, supported by steady growth in the non-oil economy and stable oil production levels towards the end of 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Non-oil economy to keep the momentum going:<\/strong> The country\u2019s non-oil GDP growth is expected to come in at 4.3% in 2024, building on the continued (albeit slower) growth in 2023, according to Livermore. This is an upwards revision from the 3.8% Oxford Economics had previously penciled in, following the government\u2019s successful economic diversification efforts particularly the growing tourism sector, which is considered \u201ca main growth driver\u201d and a key focus on the UAE\u2019s growth agenda, according to the firm\u2019s general manager. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- Tourism is a big focal point:&nbsp;<\/strong>The tourism sector's contribution to Dubai\u2019s GDP is expected to have <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c99dbd86-0736-49e9-bc89-93a7edbbba2c\/dubai-on-track-to-open-more-than-30-new-hotels-in-2024-in%253cmark%253e-tourism-%253c%2Fmark%253epush\" style=\"\" rel=\"noopener\">doubled to 36.1%<\/a> in 2023, reaching pre-pandemic levels, according to property consultant <a target=\"_blank\" href=\"https:\/\/cavendishmaxwell.com\/insights\/reports-and-whitepapers\/dubais-hospitality-sector-market-performance-in-2023\" style=\"\" rel=\"noopener\">Cavendish Maxwell<\/a>, which attributes growth to initiatives to boost the tourism sector, with the national tourism strategy pegged to increase GDP contribution to AED 450 bn and attract investments worth AED 100 bn by 2031. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi\u2019s Department of Culture and Tourism is also planning to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ad9d19f6-0b80-4c99-ad72-212dbf4024c6\/abu-dhabi%25e2%2580%2599s-new%253cmark%253e-tourism-%253c%2Fmark%253estrategy-earmarks-usd-10-bn-for-infrastructure\" style=\"\" rel=\"noopener\">spend USD 10 bn<\/a><\/strong><strong> on <\/strong><strong>infrastructure<\/strong> as part of the emirate\u2019s new tourism strategy. The Abu Dhabi Executive Council approved the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6145fdda-1604-4ee4-a3fd-6d1ee4d0d0e3\/sam-bankman-fried-sentenced-to-25-years-in-prison\" style=\"\" rel=\"noopener\">emirate\u2019s tourism strategy for 2030<\/a>, aiming to almost double the number of visitors to 39.3 mn and boost the sector\u2019s contribution to non-oil GDP to AED 90 bn per year by the end of the decade.<\/p>\n<p class=\"tag-border-left\">INFLATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Inflation on track to cool: <\/strong>Inflation is expected to decelerate to 2% from 3.4% in 2023 on the back of lower energy and food prices globally, according to the ministry\u2019s report. This would be 2.8 percentage points below the 4.8% peak of in 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The CBUAE has a different view<\/strong>, having revised its inflation projection for 2024 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3a93b9d0-a516-4b2b-8f3f-dd9f0aa362db\/cbuae-downgrades-its-growth-projections-for-2024,-saying-economy-will-grow-4.2%2525\" style=\"\" rel=\"noopener\">earlier<\/a> to 2.5%, an increase from the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/12f420c8-0f81-4607-a27d-a40a6ecc8281\" style=\"\" rel=\"noopener\">previously<\/a> projected 2.1%. The ministry adjusted its projection on the back of inflationary pressures including higher oil, wheat, and corn commodity prices as well as the impending depreciation of the USD as rate cuts loom. The bank expects inflation to remain unchanged at 2.5% in 2025.<\/p>\n<p class=\"tag-border-left\">DEBT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government\u2019s debt bill is projected to continue declining<\/strong>, with the state\u2019s debt-to-GDP ratio expected to come in at 29.4% in 2024, down from 30.5% of GDP in 2023, the ministry said. The World Bank estimates the 2023 debt-to-GDP ratio stood at 29.2%, with a 5.8% primary balance.<\/p>\n<p class=\"tag-border-left\">THE BIGGER PICTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the region:&nbsp;<\/strong>The World Bank expects to see 2.8% growth in the GCC this year and 4.7% in 2025, the report reads. This is attributed to the expected phasing out of voluntary oil production cuts. It\u2019s also expecting a 2.7% growth for the MENA region this year and 4.2% in 2025, matching pre-pandemic levels. That\u2019s more or less on par with Oxford Economics, which expects to see 2.7% average GDP growth across the GCC. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The worst is over for the global economy: <\/strong>Expecting global economy to grow by 2.4% this year and by 2.8% in 2025, Livermore said that the \u201cworst point for global growth has passed, as the activity data from the United States, China, and the Eurozone has been reassuring lately, and we expect activity to improve in most countries in the future.\u201d<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/inflation\/\">inflation<\/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=\"90944\" 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=\"90944\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/16\/consumers-drove-a-13-y-o-y-surge-in-retail-spending-in-2023\/\">\r\n                            Consumers drove a 13% y-o-y surge in retail spending in 2023                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/16\/consumers-drove-a-13-y-o-y-surge-in-retail-spending-in-2023\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Growth was attributed to a 14% increase in the retail economy \u2014 spanning hypermarkets and supermarkets, F&amp;B, leisure and entertainment, and fashion \u2014 as well as a 12% increase in non-retail spending \u2014 including government services, airline tickets, petrol and gas stations, and education.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The retail economy was red-hot in 2023<\/strong>, with stronger y-o-y growth coming during the first half of the year, while 2H 2023 was lower y-o-y due to the base effect from the previous year\u2019s FIFA World Cup, which reeled in a surge of tourists in 2H 2022. Consumer spending also \u201cstood out\u201d during 4Q 2023 \u2014 comprising 27% of all retail economy spending for 2023 \u2014 on the back of COP28, which similarly attracted thousands of visitors to the country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Super- and hypermarket spending increased by 3% y-o-y<\/strong>,<strong> <\/strong>with spending in the first half of the year up 5% y-o-y. Brick-and-mortar stores accounted for 85% of total sector spending despite a 19% hike in e-commerce and digital sales driving the growth. Retail general categories saw an uptick of 16% y-o-y in spending, with F&amp;B contributing 41% (up 25% y-o-y) of spending, hotels comprising 35% (up 17% y-o-y), and electronics making up 9% (up 33% y-o-y).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI #1- <\/strong>Dubai\u2019s hospitality market achieved an overall average occupancy of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c99dbd86-0736-49e9-bc89-93a7edbbba2c\/dubai-on-track-to-open-more-than-30-new-hotels-in-2024-in-tourism-push\" style=\"\" rel=\"noopener\">77% in 2023<\/a>, representing a 6% y-o-y increase in occupancy rates. The emirate recorded a record high of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0df74e8c-26c2-4e16-a5e2-1d69121849ed\" style=\"\" rel=\"noopener\">17.15 mn tourists in 2023<\/a> \u2014 which surpassed pre-pandemic levels and 2022 figures by growing 19.4% y-o-y. Abu Dhabi also recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ad9d19f6-0b80-4c99-ad72-212dbf4024c6\/Abu-Dhabi%E2%80%99s-new-tourism-strategy-earmarks-USD-10-bn-for-infrastructure\" style=\"\" rel=\"noopener\">earmarked USD 10 bn<\/a> for the emirate\u2019s new tourism strategy, geared towards almost doubling the number of visitors to 39.3 mn and boosting the sector\u2019s contribution to non-oil GDP to AED 90 bn per year by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Electronics spending was driven by a reset in retail and wholesale prices<\/strong>,<strong> <\/strong>and an increase in e-commerce activity, which comprised 13% of sector spending. E-commerce doubled its presence in the UAE marketplace compared to 2019, rising 7 percentage points to 12% in 2023 on the back of gov\u2019t initiatives to edge the digital economy\u2019s GDP contribution to 19.4% by 2032, a robust fintech sector, and growing digital literacy among consumers. Around 70% of total consumer transactions in 2023 were made using mobile phones.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Leisure and entertainment spending rose 15% y-o-y<\/strong>,<strong> <\/strong>with a 33% y-o-y uptick in cinema expenditures driving over two-thirds of the growth. Cinemas saw high activity in 2Q and 3Q 2023, driven by movie screenings of top-performing blockbuster movies, including Oppenheimer and Barbie. Recreational activities for tourists saw a less sharp increase during the year, only growing 4% y-o-y.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Consumer expenditure on fashion climbed 31% y-o-y in 2023<\/strong>,<strong> <\/strong>with the first half of the year accounting for 82% of the y-o-y increase on the back of the annual Dubai Shopping Festival and promotional sales. Tourist spending in the sector increased 64% y-o-y, and represented 23% of total spending in the sector (up 4 percentage points from the previous year). The report forecasts the luxury fashion market will continue to rise, owing to an increasing number of tourists in the region and a growing e-commerce marketplace.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Non-retail spending stats: <\/strong>Consumer spending across real estate services doubled in 2023 compared to the previous year, while spending in transportation increased 57% y-o-y. Petrol and gas stations and airlines Witnessed less dramatic increases, petrol and gas stations grew 28% y-o-y, and airlines by 25%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI #2- <\/strong>The UAE\u2019s residential real estate market ended 2023 on a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/93f934ee-0231-47f6-aba4-f34a0cf0f7d6\/more-growth-incoming\" style=\"\" rel=\"noopener\">strong note<\/a>, with Dubai\u2019s residential market soaring to a record high of some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c6435782-6320-496f-9931-c1e92f4edc2c\/property%253cmark%253e-transactions-%253c%2Fmark%253ein-dubai-crossed-the-100k-mark-for-the-first-time-in-2023\" style=\"\" rel=\"noopener\">119k units sold<\/a> over the year, up 29.6% y-o-y from the sales recorded in 2022. Abu Dhabi\u2019s real estate market registered over 11k transactions, jumping 77.7% y-o-y in 2023, driven by off-plan sales more than doubling and secondary market sales rising 27.7% y-o-y.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/majid-al-futtaim\/\">Majid Al Futtaim<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/retail\/\">retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tourism\/\">tourism<\/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=\"90946 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=\"90946\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/16\/90946-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90946\" class=\"content-area-description single-story post-90946 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreq.com\/en\/uae\/about-us\/our-company\/awards-accolades\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/945.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"90947\" 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=\"90947\">\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\">TRADE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/16\/the-uaes-exports-hit-usd-488-bn-in-2023-wto\/\">\r\n                            The UAE\u2019s exports hit USD 488 bn in 2023 \u2013WTO                        <\/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\/16\/the-uaes-exports-hit-usd-488-bn-in-2023-wto\/\" 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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This marked a 5% y-o-y decline in merchandise exports and a decline from its ranking as the 11th biggest exporter in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/995.pdf\" style=\"\" rel=\"noopener\">2022 (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The country saw imports increase 7% y-o-y to USD 449 bn<\/strong>, and ranked 16th in terms of global merchandise imports, climbing two spots in the ranking when compared to the WTO\u2019s 2022 report. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For services trade, the UAE ranked 13th globally in exports<\/strong>, with exports climbing 8% y-o-y to USD 165 bn. Services trade imports also increased 13% y-o-y to USD 108 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The global stocktake:<\/strong> Global merchandise trade in goods is expected to increase by 2.6% in 2024 and 3.3% in 2025 after experiencing a decline of 1.2% in 2023. Import demand was notably low in 2023 across most regions, particularly in Europe, North America, and Asia. However, the Middle East and the Commonwealth of Independent States region saw a notable surge in imports during this period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The war in the Middle East and the attacks on commercial ships in the Red Sea and Suez Canal have impacted shipments through the Red Sea and Suez Canal<\/strong>, according to the report. Containerized goods \u2014 which make up half of the freight volume passing through the canal \u2014 has seen a 72% decline between November 2023 and February of this year, while freight costs more than tripled during the same period on the back of additional fuel costs associated with long detours and increased ins. premiums.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The outlook remains uncertain<\/strong>, but carriers do not expect the situation in the Red Sea to improve significantly anytime before 2Q 2024, according to the report.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/shipping\/\">shipping<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"90949\" 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=\"90949\">\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\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/16\/alec-butec-jv-tapped-to-build-abu-dhabis-first-waste-to-energy-plant\/\">\r\n                            Alec, Butec JV tapped to build Abu Dhabi\u2019s first waste-to-energy plant                        <\/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\/16\/alec-butec-jv-tapped-to-build-abu-dhabis-first-waste-to-energy-plant\/\" 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 waste-to-energy plant will sit near the Al-Dhafra landfill and process some 900k tonnes of non-recyclable waste a year for a period of 30 years. The statement did not disclose the investment ticket or a construction timeline.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s doing what?&nbsp;<\/strong>The JV, <a target=\"_blank\" href=\"https:\/\/alecbutec.com\/\" style=\"\" rel=\"noopener\">Alec Butec<\/a>, will oversee the engineering, procurement and construction of the facility, as well as manage external works and site infrastructure, alongside Swiss-based cleantech company <a target=\"_blank\" href=\"https:\/\/www.hz-inova.com\/en\/\" style=\"\" rel=\"noopener\">Hitachi Zosen Innova<\/a> (HZI). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The Emirates Water and Electricity Company and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/23956d8f-bb70-4b57-b2fe-31e886440c13\/iraq-%2B-jordan-sign-new-interconnection-agreement\" style=\"\" rel=\"noopener\">Tadweer Group<\/a> signed a concession agreement with a Japan-based consortium to develop the Abu Dhabi-based greenfield waste-to-energy independent power project at the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/1a7ada38-d8d8-4d31-a408-6ad9a725af8d\/ewec-%2B-tadweer-partner-with-japanese-consortium-on%253cmark%253e-waste-to-energy-%253c%2Fmark%253efacility\" style=\"\" rel=\"noopener\">start of the month<\/a>. The consortium includes Japanese conglomerate <a target=\"_blank\" href=\"https:\/\/www.marubeni.com\/en\/\" style=\"\" rel=\"noopener\">Marubeni Corporation<\/a>, HZI, and <a target=\"_blank\" href=\"https:\/\/www.join-future.co.jp\/english\/\" style=\"\" rel=\"noopener\">Japan Overseas Infrastructure Investment Corporation for Transport &amp; Urban Development<\/a>. The facility aims to offset approximately 1.1 mn tonnes of CO2-equivalent emissions annually with an 80 MW power generation capacity capable of powering more than 70k homes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Butec and Alec formed the JV back in <a target=\"_blank\" href=\"https:\/\/www.butec.com\/delighted-to-announce-that-alec-and-butec-launched-a-new-jv\/\" style=\"\" rel=\"noopener\">April 2021<\/a>, merging their assets, personnel, and experience to provide cost-effective and environmentally sustainable solutions for major projects in the UAE's utilities, industrial, and environmental sectors.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/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\/waste-to-energy\/\">waste-to-energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"90951\" 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=\"90951\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/16\/budget-saudi-subsidiary-snags-stake-in-overseas-development-uae-unit\/\">\r\n                            Budget Saudi subsidiary snags stake in Overseas Development UAE unit                        <\/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\/16\/budget-saudi-subsidiary-snags-stake-in-overseas-development-uae-unit\/\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/892.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90952\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/16\/budget-saudi-subsidiary-snags-stake-in-overseas-development-uae-unit\/892-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/892.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"892.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/892.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/892.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90951\" class=\"content-area-description single-story post-90951 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-logistics 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\/.22b18ea1-2fd2-479c-a603-48cb78e158bf.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Budget Saudi subsidiary acquires majority stake in Overseas Development in UAE: <\/strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/aljozoor-alrasekha-trucking-co-rahaal\/about\/\" style=\"\" rel=\"noopener\">Aljozoor<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/aljozoor-alrasekha-trucking-co-rahaal\/about\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/aljozoor-alrasekha-trucking-co-rahaal\/about\/\" style=\"\" rel=\"noopener\">Alrasekha<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/aljozoor-alrasekha-trucking-co-rahaal\/about\/\" style=\"\" rel=\"noopener\">Trucking (Rahaal)<\/a> \u2014 a wholly-owned subsidiary of automobiles rental firm <a target=\"_blank\" href=\"https:\/\/www.budgetsaudi.com\/en\/\" style=\"\" rel=\"noopener\">Budget Saudi<\/a> \u2014 has signed a sale and purchase agreement to acquire a 70% stake in UAE freight forwarder <a target=\"_blank\" href=\"https:\/\/www.geslogistics.com\/about-us\" style=\"\" rel=\"noopener\">Overseas Development<\/a> \u2019s subsidiary in the UAE, the parent company said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MjYwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5MzYy\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The transaction was valued at a price of AED 13.3 mn (c. SAR 13.6 mn). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bringing a months-old MoU to fruition: <\/strong>Rahaal had penned a six-months MoU with Overseas Development <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVBNc4IwFPwtHjx28sAa9Ih1inT8gIJVuDgBXpUZIU4ITPXXN4pt1VbbMjmQze6-t0tCMidhzqp0yWTKc7ZW9yCki7ZJQR90YAID_wEoeBad-h2tr1MyOyd0RhYFd2y6E91og_UCJPyXHjynDe6jM2oN4RksoH_Tw5XP_HV-oPTGVYKtEY-EJIy23jaL-JoE9zqFGjHznJd5jBnmkgSa2iQ8HzYxu4bK8tSz7KHZ6lDjkvBDWRfrfm_jQLgR18P80MnNTDOBBS9FjOR5ifI0yDAtZJ9JRtyYxSscYoVrhy2xroElVVpwUexZJLjT9liBseSiv7GTT-Siqo3gSRlLf7tBVbcCJFcj1D8YTWhpTdBB1w9ENchLd-pFg9qaiXhV67QPwrjMIhT96Ai9Cp59ucGJG9vHivehjg6Lej2Jb9I7ONfbJErtoEi5CkA22XQ63_kYde3UqUa9cbs6P8tG4x0ZPXfb\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzQyNjAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzY5MzM1\/\" style=\"\" rel=\"noopener\">back in July 2022<\/a> for the potential acquisition of 70% of the latter\u2019s subsidiaries in Saudi, UAE, and Kuwait \u2014 an agreement that was then renewed for another six months in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVBdb4IwFP0tPuxx6QVnwUccGbr4gYJTeTEF75REKCmFTH_9CizxY9NtTZu0t-ece88hAVmSIGVlvGUy5inbq_cqoOuORUHvmzCBvv8MFDyHzn1Ts3VKFpcAc-RQmI6t6UQ3OuC8AQn-xQfP7cD0xR21hzADB-jf-HBjWb_2Xym-cRMw0IhHAhKEB--QhHxPVk86haZipSkv0ggTTCVZaWqS4LLZxOoaystrzxkMrbZJjWvAD2Fdjfs9jRpwx66HaZ3JXU8LgTkvRIRktkV5bmQY59JmkpFpxKIdDrHEvcu22MTANmWcc5FXKJWcquQYSS7sbLD5el_FlAm-KSLpHzJsAJIreXUH7QHa6uigt2ugauLFR_WjQSPMRLQ78ar_cZGEKOywSluV3gVPTmJwJsYqR1HlpxHQ1o81Q-KH9GrhRnSj2C6KmFfTZ8l8vjz6GHYHsVuOeuNOebm3rdYnlFco-g!!\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzQyNjAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzcxNzI2\/\" style=\"\" rel=\"noopener\">January 2023<\/a>. The parties later <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lZLRToMwFIafZRdcmnOAUcC7OmPHMmRYUOjNUjYySaAQ02nm00vkiimb9q7N9-c_30lBQAZCyffqIHXVKln391yQrUMJWksPI1wmCyTIGUkTz7wPbHgZA17ICMaPNI4s10H2jCD-lUe-cTB-2IT2Gp-QIflbHicOvdqf93l3GjCBgwBRnPipKdoa8rlFcHihSrVHtSubUmnIzX4SMS6LqO_2Lqs7Fqyp7RH3HPhlWWfj_tzGN3BJ96KwRYDLtyvSMRmkd23TSTU2X4E41G0x_IxXrbtbAw3Uci8_jrXR10ulFlJDZk4DwR4y15qjD12TptlnUhZ-UAU3rNmG2snpbPYFRLuv5A!!\/dz\/d5\/L0lHSkovd0RNQU5rQUVnQSEhLzROVkUvZW4!\/\" style=\"\" rel=\"noopener\">signed a binding MoU<\/a> for the acquisitions in March 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we still don\u2019t know: <\/strong>Rahaal\u2019s acquisition of Overseas Development\u2019s unit in the UAE is the second to materialize through a sales and purchase agreement after the company <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDRcoIwEPyWfkAnB5aAj1imSAcVRKvw4gRIkRkhTAhM9esbpFOrrbbN5CG32b3bWxShNYpK0uYZETkryU7WYYQ3molBHRswg_HiETAENl4uDMVSMVqdE4yJjcGfmv5M1TWwXwBF_9JD4GngP3mTgQtzsAH_TQ9Xjvnr_FDq9asER0EBilAU74N9EbMdCh9UDD1iliVryoQWtBQoVKST6HzYzBzqcpfnke245sDA-iXhh7Au7H5P40i4sW5Ay2MmN3dacVqzhicUzTMqvi7i5rWwiCDIT0iypS5t6c4jGe1jIGmb14zXHQuF90qH1TQRjFuVk34iF1FVnKVNIhb7isq4JSCYHPHxrmTzID_ISoG-HeHJ9sTt_qdNEVNuxV3KEnrlrDg1IJ37pPPei5RN70LQNxEcm_W8VCo8ynMmfaKqWC7XhwWNh07utZPRVGvPb3Z39w5-xZzN\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzQyNjAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc3MTU3\/\" style=\"\" rel=\"noopener\">finalized procedures in November<\/a> to acquire a 70% stake in Overseas Development\u2019s subsidiary in Saudi. It remains unclear whether a sealed acquisition of the Overseas Development subsidiary in Kuwait by Rahaal would follow.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the company: <\/strong>Founded in 1976 in Jeddah, Overseas Development provides industry-specific logistics, shipping and freight services across the Kingdom, Kuwait, the UAE, and Lebanon. The company also offers customs brokerage and ins. services for its sea, land and air shipments, according to its <a target=\"_blank\" href=\"https:\/\/www.geslogistics.com\/solutions\" style=\"\" rel=\"noopener\">official website<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"90953\" 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=\"90953\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/16\/general-authority-of-islamic-affairs-has-a-new-chairman\/\">\r\n                            General Authority of Islamic Affairs has a new chairman                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/16\/general-authority-of-islamic-affairs-has-a-new-chairman\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Al Darei has a background in Islamic jurisprudence and experience in Islamic affairs. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/moves\/\">MOVES<\/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=\"90955\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43010.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.mashreq.com\/en\/uae\/neo\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/20607.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Rise every day<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43009.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/20617.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"90956\" 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=\"90956\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/16\/dubai-cable-company-expands-to-20-new-countries\/\">\r\n                            Dubai Cable Company expands to 20 new countries + more from Al Ansari Exchange, Fils, and Emirates NBD                        <\/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\/16\/dubai-cable-company-expands-to-20-new-countries\/\" 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\/16\/dubai-cable-company-expands-to-20-new-countries\/')\">\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\/16\/dubai-cable-company-expands-to-20-new-countries\/\">\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 Cable Company expands to 20 new countries&url=https:\/\/enterpriseam.com\/uae\/2024\/04\/16\/dubai-cable-company-expands-to-20-new-countries\/\">\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\/16\/dubai-cable-company-expands-to-20-new-countries\/&title=Dubai Cable Company expands to 20 new countries\">\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+Cable+Company+expands+to+20+new+countries+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F04%2F16%2Fdubai-cable-company-expands-to-20-new-countries%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\/16\/dubai-cable-company-expands-to-20-new-countries\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/980.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90957\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/16\/dubai-cable-company-expands-to-20-new-countries\/980-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/980.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"980.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/980.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/980.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90956\" class=\"content-area-description single-story post-90956 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-ducab tag-emirates-nbd tag-enterpriseam-uae tag-fintech tag-manufacturing 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\/.073dc3c5-7b5f-4f6b-b9f0-01c3dabc961c.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Ducab expands to 20 new countries: <\/strong>Dubai Cable Company \u2014 more commonly known as <a target=\"_blank\" href=\"https:\/\/ducab.com\/\" style=\"\" rel=\"noopener\">Ducab<\/a> \u2014has expanded into 20 new markets, bringing its geographic footprint to 75 countries, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/april\/15-04\/ducab-group\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>. The company offers 85k cable variants to nuclear energy, marine, offshore, and oil and gas industries, 60% of its production going towards exports. <\/p>\n<p class=\"tag-border-left\">FINTECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Al Ansari Exchange will integrate Al Etihad Payments\u2019 instant payment platform, Aani,<\/strong><strong> into its operations to simplify its digital payment services<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/893.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a>. The Aani app allows customers of the personal remittance and foreign exchange company to make mobile number, email, or QR code-based transactions without requiring IBANs, and features a suite of advanced payment technologies, including requests to pay and split bills. It will also be integrated with Al Ansari Exchange\u2019s WPS Payroll card and prepaid cards.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Fils and digital banking player Aion have partnered up to work on advancing <\/strong><strong>sustainable finance <\/strong><strong>in the Middle East<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/921.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>.The collaboration aims to integrate environmental, social, and governance (ESG) principles into financial services across the MENA region, offering ESG scoring, sustainable investments, and green products, over the coming months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Fils:<\/strong> The startup specializes in helping businesses integrate ESG efforts, like carbon credit purchases, into their transactions using their APIs.<\/p>\n<p class=\"tag-border-left\">BANKING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates NBD has rolled out a new card catering specifically to high-net-worth <\/strong><strong>individuals<\/strong>, according to a Dubai Media Office <a target=\"_blank\" href=\"https:\/\/mediaoffice.ae\/en\/news\/2024\/april\/15-04\/emirates-nbd#:~:text=Emirates%20NBD%2C%20a%20leading%20banking,its%20affluent%20Priority%20Banking%20clientele.\" style=\"\" rel=\"noopener\">statement<\/a>. The card \u2014 a collaboration with Visa \u2014 is tailored to affluent clients holding a minimum balance of AED 500k in deposits and investments. \u201cThis new offering will deliver exceptional value to our affluent client base in the form of distinguished lifestyle benefits and a competitive rewards program,\u201d Emirates NBD\u2019s head of priority banking and personal banking, Yousuf Mohd, said. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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\/ducab\/\">Ducab<\/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\/fintech\/\">fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/manufacturing\/\">MANUFACTURING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"90958\" 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=\"90958\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/16\/european-central-bank-will-likely-cut-rates-this-summer\/\">\r\n                            European Central Bank will likely cut rates this summer                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/940.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90959\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/16\/european-central-bank-will-likely-cut-rates-this-summer\/940-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/940.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"940.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/940.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/940.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90958\" class=\"content-area-description single-story post-90958 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-uae tag-financial-markets tag-inflation tag-interest-rates tag-planet-finance tag-us-federal-reserve wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.46710f16-e367-45b0-9330-883c53efe814.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ECB to cut rates in June? <\/strong>The European Central Bank (ECB) will start cutting interest rates in June, Governing Council member Francois Villeroy de Galhau told French newspaper <a target=\"_blank\" href=\"https:\/\/www.lejdd.fr\/economie\/le-gouverneur-de-la-banque-de-france-au-jdd-nous-sommes-en-train-de-gagner-la-bataille-contre-linflation-144058\" style=\"\" rel=\"noopener\">Le Journal du Dimanche<\/a> over the weekend. \u201cBar a surprise, we should decide on the first cut at our next meeting on 6 June \u2026 Our cut early June will have to be followed by other cuts by year-end,\u201d he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where rates currently stand: <\/strong>The ECB kept rates unchanged when it met last Thursday, keeping the deposit rate at a record 4% in place since September. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile in the US, June cuts are looking less likely: <\/strong>Traders have ruled out the Federal Reserve slashing rate over the summer \u2014 some have penciled in mid-September for when the Fed will start cutting rates, while some don\u2019t see the Fed cutting rates at all this year, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/fed-seen-waiting-until-september-cut-rates-2024-04-10\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. This came in response to <a target=\"_blank\" href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\" style=\"\" rel=\"noopener\">March\u2019s inflation data<\/a> coming in hotter than expected \u2014 consumer price inflation rose 3.5% y-o-y up from 3.2% the month before.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Tap or click here to read this section<\/strong> with all of the links to our background coverage as well as to external sources.<\/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>Major Asian benchmarks are all substantially in the red this morning<\/strong>, following Wall Street\u2019s lead: Korea\u2019s Kospi is off 2.1%, the Nikkei is down 1.6%, and the Hang Seng has lost 1.2%. The Shanghai composite is fairing a bit better \u2014 it\u2019s off just 0.8% after China reported its economy grew 5.3% in 1Q 2024, beating expectations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>European and US stock futures are largely unchanged<\/strong> but point to a lower opening later today.<\/p>\n<p><a target=\"_blank\" id=\"t.0a215b2622542fb0b46c6fe0d030b25e6dfd2ef4\" 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-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,254<\/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: -3.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,244<\/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\">0.0% (YTD: +4.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">0.0% (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\">5.4% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,708<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +6.2%)<\/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\">29,616<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+3.9% (YTD: +19.0%)<\/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\">5,062<\/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\">-1.2% (YTD: +6.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,966<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +3.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,984<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +10.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 90.10<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 1.68<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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 2,398.40<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 63,303.90<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +49.2%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ADX rose 0.2% yesterday<\/strong> on turnover of AED 1.3 bn. The index is down 3.4% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Multiply Group (+14.8%), Q Holding (+4.6%) and Emirates Stallions Group (+4.0%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Palm Sports (-9.9%), Gulf Medical Projects Company (-9.6%) and Response Plus Holding (-3.2%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the DFM<\/strong>, the exchange stayed flat on turnover of AED 628.3 mn. Nasdaq Dubai also remained flat.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/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\/interest-rates\/\">interest rates<\/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\/us-federal-reserve\/\">US Federal Reserve<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"90960\" 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\/16\/90960-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90960\" class=\"content-area-description single-story post-90960 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;\">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>28-29 April (Sunday-Monday): World Economic Forum\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.weforum.org\/events\/special-meeting-on-global-collaboration-growth-and-energy-for-development-2024\/about\/\" style=\"\">Special<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.weforum.org\/events\/special-meeting-on-global-collaboration-growth-and-energy-for-development-2024\/about\/\" style=\"\">Meeting on Global Collaboration, Growth and Energy for Development<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.<\/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 style=\"font-weight:400;\">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 style=\"font-weight:400;\">, Adnec Centre Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10-12 December (Tuesday-Thursday): Middle East Business Aviation, Dubai World Central.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>World Future Energy Summit kicks off | Merchandise exports fell 5% in 2023 | Consumer spending climbed 13% last 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